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Can Google’s cloud finally win a place in the enterprise?
When Google Inc. opens its three-day Cloud Next conference on Wednesday, its top executives will be showing off new services, partnerships and customers of its cloud computing service in hopes of stealing a march on the cloud’s reigning leaders, Amazon.com Inc. and Microsoft Corp.
But for the most important potential customers of its cloud services — the big corporate enterprises that still haven’t moved most of their critical operations to the cloud — it all boils down to one overriding question: Can I trust you to run my most critical services for the next decade?
For all of Google’s clear expertise in designing and running its own cloud-based operations, it continues to have trouble convincing the biggest companies it’s committed to enterprises and cloud computing and won’t suddenly change direction as it has with so many consumer services. Indeed, Diane Greene, senior vice president in charge of the Google Cloud Platform, admitted some frustration last fall at the persistent question. “It drove us crazy because yeah, we are really serious about the enterprise,” Greene said.
A number of partners and customers say Google is starting to prove it. It has added new technologies such as identity management and support for Microsoft Corp.’s Windows operating software. It has also forged a number of partnerships with the likes of Accenture that help companies with their information technology transitions. And Google has hired a lot of enterprise-trained talent in the past year.
“All these things sound boring, but it’s quite important for enterprises,” said Dan Conde, an analyst with the Enterprise Strategy Group. “Sometimes people don’t give them as much credit as they should.”
Observers credit the new attitude to Greene, a founder and longtime leader at enterprise veteran VMware Inc. She joined Google when it bought her startup Bebop in late 2015 and has been visiting potential customers and partners worldwide to cement deals.
But Greene still has a lot more to prove — since as Conde put it, Google’s overall cloud offerings are “like Swiss cheese — there are a lot of holes. And every single hole is an objection” to using Google Cloud, he said.
The traditional databases and applications such as human resources management, business intelligence and customer support that these big companies run don’t sound nearly as exciting as some of the cloud customers Google likes to talk about, such as Snap Inc., Evernote Corp. and Apple Inc. But the traditional companies still account for the vast majority of information technology spending. According to a new report from Bain & Co., cloud accounts for represents about 16 percent of the $1.1 trillion enterprise IT market, so traditional “workloads,” or computing tasks, represent the bulk of the cloud opportunity.
“They have to push hard to get new workloads because that’s how you survive in the cloud,” said Holger Mueller, vice president and principal analyst at Constellation Research.
And rivals such as Amazon Web Services and Microsoft Azure have a big head start. AWS, the leader at least in the base infrastructure-as-a-service layer, commanded a third of the $10.3 billion market in the fourth quarter alone, according to the research firm Canalys. Second is Microsoft Corp.’s Azure, with Google a distant third. IBM Corp. and Oracle Corp. are also trying to provide various kinds of cloud services to their customers.
Lots more work to do
Google has a lot of work to do. For one, it must provide a large enough infrastructure to compete with AWS and Azure in the base level of cloud computing, infrastructure as a service. Urs Hölzle, Google’s senior vice president for technical infrastructure, said last year that the $9.9 billion Google spent in 2015 on its cloud infrastructure was double AWS and Microsoft Azure spending combined. Hölzle also promised that Google would announce about one new data center region a month this year and vowed to “keep up that pace for quite a while.”
Even more important, though, enterprises will be looking to see if Google can help bring together more of what they need to move workloads to the cloud, while also making sure they can sync them with the workloads they need to keep in their own data centers because of legal compliance or regulatory concerns. “The majority of people still believe data and applications will need to be partly on-premises,” said Mario Blandini, vice president of marketing at SwiftStack Inc., whose latest hybrid cloud storage software works with the Google Cloud.
In September, Google announced an alliance with Accenture to develop cloud and hybrid solutions for customers in specific industries. It also announced a number of new customer support services. And in a pre-Cloud Next announcement today, Google unveiled a simplified partner program and new or expanded partnerships with Intel Corp., Check Point Software Inc., Veritas Technologies LLC and Egnyte Inc.
Not least, it has made some new hires from enterprise ranks. Last year, for instance, it hired Tariq Shaukat, former chief commercial officer at Caesars Entertainment Corp., as president of customer engineering and operations for Google Cloud, with the intention of providing more hand-holding to big customers. Last November, it hired Cloudera Inc. and VMware Inc. veteran Bertrand Yansouni as global partner sales and alliances lead for Google Cloud Platform, and last month, it moved him over to handle all global partner sales and strategic alliances.
For their part, enterprises themselves need to adapt to new ways to use and manage IT services in the cloud era — including new cloud-based machine learning and analytics technologies Google is offering to cutting-edge users. But at Cloud Next, they’re hoping to see Google meet them more than halfway.
Photos by Robert Hof
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BlackBerry 'Outraged' Over T-Mobile Promotion
Replying to: who can blame t-mobile? by amarryat
Re: who can blame t-mobile?
When I was an employee for at&t, there were always rumors, which were never 'officially' confirmed, but which we always suspected, that Apple was paying 'incentives' to at&t stores or certain agents to encourage them to force the iPhone on customers and to discourage them from selling customers any other device....
The reason for this is because so many customers reported that they were actively discouraged by store agents from buying anything but an iPhone.....customers said that they were told that a certain phone was not in stock at the store when it really was in stock, and that when store agents were told by a customer that they wanted such and such a phone they store agents would tell them that no they shouldn't want that phone, they should get an iPhone etc etc etc
It just seemed weird to us that so many people walked into a store wanting to get one phone, but walked out with an iPhone, including many who had no idea how to use them, and who frankly didn't even want them, at least once a week I spoke to someone who complained that a store agent talked them into getting an iPhone and they never even wanted one and cannot figure out how to use them......and we thought, agents can't be doing this on their own for no reason, Apple simply MUST BE paying them to do it.....we never had any confirmation but this is what literally every single one of us in the call center I worked at believed, it seemed to be the only logical explanation for why store agents seemed so obsessed with pushing the iPhone on everybody who walked into an at&t store
I for one eventually got so sick of having store agents trying to force me to buy an iPhone that somewhere along the way I decided that I'm not going to buy phones at the store anymore and started ordering them online, where I could get what I wanted without being pressured to buy whatever phone store agents wanted to force on me.
Stories like this seem to me to confirm these rumors.....and they confirm, I think, that underhanded tactics to force people to sign up for a particular phone are not limited to at&t, and they aren't limited to Apple...
Honestly, this kind of heavy handed tactic to force Blackberry users to switch to another device is probably the result of pressure, and perhaps payments under the table, from Google and/or Apple.....it literally makes no sense any other way....it makes no sense for T-Mobile to deliberately antagonize some of their customers in such a way.....

domain: news


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As announced at the Gamescom 2021 event, Microsoft is bringing cloud gaming to Xbox Series X, S, and Xbox One devices. It means Xbox Game Pass Ultimate members will be able to play Xbox cloud gaming titles with no installation required on the hard drive. In addition to enabling super-quick gameplay with no installation necessary, cloud gaming on Xbox will also make It easy to play with friends.
Microsoft plans to make cloud gaming available during the holiday season. Of course, the significant promise here is that users can start playing their favorite or new titles without waiting minutes or hours.
Xbox Cloud gaming is here
The Xbox Game Pass library consists of more than 100 titles, and many are available in the cloud version. For instance, users can enjoy games like Forza Horizon 4, Destiny 2, Minecraft Dungeons, and Sea of Thieves, to name a few. Of course, the developer will bring cloud gaming support to more titles in the future.
For example, the blog post mentions that users can play Gen 9-only games like Microsoft Flight Simulator could be played on Xbox One devices with the help of Cloud Gaming on Xbox. Usually, titles like MFS and The Medium are available only on Xbox Series X and Series S devices.
The company says that it will keep testing the program during this fall. Microsoft is yet to confirm the exact public release of the program, but it will likely be running smoothly by the start of 2022. It has provided little specifications of the program as well.
For instance, it mentioned that games via Xbox Cloud Gaming will be running at a resolution of 1080p and a frame rate of 60fps. Of course, it is a decision to ensure the best gaming experience on multiple devices.
It is also worth noting that cloud gaming on Xbox is not available in all regions. You may have to check the official website to see if your country is on the supported list. As expected, the list says that the program will be available in Canada, the UK, the US, and several European nations. It is unclear whether or when Microsoft will extend the support for other regions.


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Digitally Up will be working with Huawei Pakistan to solidify the company’s digital footprint in Pakistan and promote its products and services through online channels.
There is one thing which is constant is digital marketing, that is change. Here we have enlisted how digital marketing will change in 2019.
The hottest topic today on social media is Stories, and Facebook is monetizing it by creating Stories Ads. Learn what advertisers can do with this new CTA.


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In Patent Dispute, Tesla Plays Offense
Professor Mark Lemley spoke with Chelsea Allison of The Recorder about Tesla Motors' use of in-house lawyers and the risk involved with this strategy.
In-house lawyers at Silicon Valley darling Tesla Motors Inc. have taken a bold stance against patent infringement claims.
Rather than wait to be sued — and apparently without a general counsel in place — Tesla filed a complaint for declaratory judgment after receiving a demand letter from Los Angeles patent holder pointSET.
According to a recent analysis by Mark Lemley, director of Stanford Law School's Program in Law, Science and Technology, declaratory judgment actions aren't totally uncommon, as they represent about 7 to 8 percent of all patent suits. But, he said in an email, "Relying on in-house counsel is a lot less common, and a much riskier strategy."


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New reports claim that one of the biggest TV manufacturers in the world, Samsung, is eyeing to ship more than 40 million TVs in 2023. This forecast is to make sure that it cements its top spot in the TV market. While the South Korean giant believes it will be able to reach the 40 million mark, it would be quite a challenge because of the economic slowdown in the category in the coming quarters.
However, Samsung needs to be optimistic despite the adverse conditions to guarantee its leadership in the industry. Out of the projected 40 million TV units, around 39 million units will be Liquid Crystal Display (LCD) TVs, and 1.5 million units are planned for quantum dot OLED (QD-OLED) models.
Like LG, Samsung won’t be entering or launching any White OLED (W-OLED) models. W-OLED models are currently only made by LG Display. Samsung will be relying on CSOT, HKC, LG Display, BOE, and AUO for LCD panels for its TVs.
Samsung to give an edge to its Chinese supplier CSOT over BOE for display supply
Among all these suppliers, the Chinese CSOT (a subsidiary of TCL) will be the major one for Samsung, supplying around 10 million units (via TheElec). Samsung is also supporting CSOT more than BOE because of the dispute it has with the latter over marketing agreements. Moreover, Samsung Display, a subsidiary of Samsung, also owns shares in CSOT and sold its Suzhou factory to a Chinese partner earlier. All these favorable buildups definitely give CSOT an edge over other suppliers.
BOE, at one time, was the second-largest supplier of LCD panels to Samsung for TVs. But with the ongoing dispute and other factors, the position of BOE on Samsung’s portfolio of suppliers has declined in recent times. Not only the dispute, but Samsung is also looking to diversify its LCD supply because of the hit the TV industry took because of the pandemic.


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12:51pm PT by Lesley Goldberg
Comic-Con 2011: Check-In With GetGlue for Stickers, Exclusives
Social networking entertainment site GetGlue.com is heading to Comic-Con.
The site has teamed with networks and studios for exclusive Comic-Con stickers for more than 25 television shows and feature films.
From The Walking Dead, Doctor Who, True Blood and Dexter to features Cowboys & Aliens and Captain America, fans who check-in at each panel will receive exclusive stickers, swag and other special rewards.
For example, fans who check in at Showtime’s Dexter/Shameless/Homeland panel will receive exclusive stickers as well as 15 percent off Comic-Con gear at the official Showtime store with trivia stickers promoting Dexter where 10 fans could win a special Dexter action figure.
Registered users unable to attend the San Diego event can also check-in during the Wednesday-Sunday event to earn stickers as well.


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China closed more than 100 websites carrying pornography and thousands of social media accounts in an renewed effort to clean up the internet.» Read More
Emil Wolter, Head of Regional Strategy, Asian Equities at RBS, says that Asia is doing relatively better and is outperfoming the rest of the world's economies.
Analysts are predicting that Japan will intervene to slow down the yen as early as this week.
Discussing the headwinds facing China and whether investors should stay away, with David Mann, Standard Chartered head of Research Americas.
German retail group Metro saw sales grow only marginally in the second quarter, led by its emerging markets business, as weak consumer spending in Western Europe weighed on its results.
Peter Wong, Asia Pacific CEO of HSBC speaks about his growth strategy for the Asia Pacific region.
In the issue, Consumer Reports pulls no punches on the Civic saying, "Stopping distances are long, the ride is choppy, road noise is pronounced, and the interior feels cheap."
While Europeans and Americans traveling abroad still face steep roaming charges, travelers from mainland China can call home for as little as it costs to make a local call in that market. The NYT reports.
Peter Lai, Director at DBS Vickers Securities says the yuan will benefit from the U.S. debt talks.
With the deal reached Sunday night, the United States has a good chance of escaping the debt limit showdown with its credit rating intact. But as the NYT reports, America's government may not be so lucky with its reputation.
After days of growing public fury over last month’s high-speed train crash and the government’s reaction, Chinese authorities have enacted a virtual news blackout on the disaster except for positive stories or information officially released by the government. The NYT reports.
For all the hand wringing, complaining and eye rolling being done by auto makers who are now on board with the new fuel efficiency targets, one thing you don't hear about is the excitement of engineers, designers, and suppliers. Excitement? Yes, excitement.
British luxury carmaker Rolls-Royce Motor Cars expects sales from Asia to account for 40% of its total by year-end. In an interview at his headquarters in Goodwood, England, CEO Torsten Müller-Ötvös discusses his roadmap for the Asian region with Managing Asia.
French retail and luxury group PPR page90PPR-FRfalsefalse43pricetruefalsefalsefalse0QuotefalsetrueChartfalsetrueNewsfalsetrueProfilefalsetrueAdd to Watchlistfalsetruetruehttp://api-cdn.cnbc.com/api/chart/chart.aspGE4true3 on Friday posted forecast-beating first-half sales and profits, pulled by the strong growth of its luxury brands in major markets such as China.
David O'Neil, CIO at ASEAN Investment Management discusses why he is bullish on Vietnam.
David Marshall, Senior Analyst, Asia-Pacific Financials at CreditSights, believes that a crisis in the U.S. bond market would affect all Japanese banks. He explains more.
Daniel Hui, Senior FX Strategist at HSBC, believes Asian currencies are set to appreciate, especially the won, Singapore dollar and offshore yuan in the absence of global systemic risks.
Mark Mobius, Executive Chairman at Templeton Emerging Markets Group says emerging markets have become safe havens as a result of the U.S. debt impasse.
Michael Kurtz, Head of Regional Strategy at Macquarie Securities talks about the outlook for China's economy.
Michael Kurtz, Head of Regional Strategy at Macquarie Securities, says investors have already priced in the risk of a breakdown in U.S. debt talks.
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Simon Grose-hodge, Head of Investment Advisory, South Asia at LGT Bank Singapore, remains overweight on developed markets as the U.S. and Europe are showing signs of recovery.
Kelvin Tay, MD & Regional CIO for Southern APAC at UBS Wealth Management, expects U.S. firms to report 8 percent growth for 2014, but warns of risks from the recent winter freeze.
David Forrester, Senior Vice President, G10 FX Strategy at Macquarie, expects the Bank of Japan to unleash more stimulus ahead, which will spur further yen weakness.


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SIM-Free iPhone X Now Available From Apple Online Store in the United States
Starting today, Apple is offering a SIM-free version of the iPhone X from its online store in the United States, allowing customers to buy an unlocked iPhone without choosing a carrier.
SIM-free versions of the iPhone X in all capacities list the same ~one week delivery estimate available for other iPhone X devices. SIM-free iPhone X models ordered today will arrive on December 12.
SIM-free iPhone X models will work with any carrier and have full support for both CDMA and GSM networks, much like the Sprint and Verizon versions of the new smartphone. iPhone X models from AT&T and T-Mobile do not support CDMA networks and are not compatible with Sprint or Verizon.
Since iPhone X pre-orders kicked off on October 27, Apple has only allowed customers to buy an iPhone X with an AT&T, Sprint, T-Mobile, or Verizon SIM, though models purchased in full are listed as unlocked. At launch, Apple was requiring carrier pre-activation to make an iPhone X purchase, but that requirement was lifted in mid-November.
It's been possible to get the equivalent of a SIM-free unlocked iPhone X ordering a Verizon model and paying full price, but now there is an official SIM-free version.
Now that SIM-free iPhone X models are available, Apple is will also soon allow its employees to purchase the iPhone X through the internal employee site at a discount.
Apple's second-generation AirPods Pro are finally nearing launch, with a release expected later this year. If you are considering upgrading to the new AirPods Pro once they are released, keep reading for a list of five new features to expect.
In addition to all-new features, the second-generation AirPods Pro will likely adopt some features added to the standard AirPods last year.
There's just about a month to go until Apple holds its annual September event focusing on new iPhone and Apple Watch models. We thought we'd take a quick look at everything that's rumored for Apple's September event to give MacRumors readers a rundown on what to expect when the first fall event rolls around.
The iPhone 14 can probably be described more as an "iPhone 13S" because...
Apple's rumored 10th-generation iPad is currently in production and will feature "major" design changes, according to a report from Taiwanese website DigiTimes.
A mockup of the potential 10th-generation iPad design by Renders By Shailesh The report did not provide any specific details about the 10th-generation iPad's new design, but rumors suggest the device will feature a larger 10.5-inch...
Apple today seeded the sixth betas of upcoming iOS 16 and iPadOS 16 updates to developers for testing purposes, with the updates coming a week after Apple released the fifth developer betas.
Registered developers can download the iOS and iPadOS 16 profiles from the Apple Developer Center, and once installed, the betas will be available over the air.
iOS 16 introduces a revamped Lock...
The Apple Watch SE was announced in September 2020 and has been a popular Apple Watch model for customers looking for their first smartwatch or an affordable Apple Watch. Apple Watch SE customers may be wondering, however, what's in store for them with the upcoming Apple Watch Series 8 and what new features they can expect. Continue reading to find out. Apple Watch SE vs. Apple Watch Series ...
Samsung today announced the launch of the Odyssey Ark, which the company says is the world's first 55-inch 4K curved display with a 165Hz refresh rate for improved gaming performance. Samsung first previewed the monitor at CES, but it is now available to order.
Subscribe to the MacRumors YouTube channel for more videos. Priced at $3,500, the Samsung Odyssey Ark features mini-LED technology...
This week brought some shocking news for iOS 16 beta testers, with Apple bringing back the iPhone battery percentage to the status bar after a number of years.
Other news and rumors this week included word that Apple has started recording portions of its media event planned for next month to introduce the iPhone 14 and Apple Watch Series 8, claims about iPhone 14 Pro pricing and Apple's...


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Ben’s Soft Pretzels has provided more than 30,000 pretzels, and lots of smiles, to essential workers since the pandemic began through the Pretzel Partner Program. The initiative allows members of the community to sponsor a pretzel delivery to essential workers of their choice by going to benspretzels.com and clicking on “Pretzel Partners”.
For a $39.99 sponsorship, a locally owned Ben’s Soft Pretzels bakery will deliver 20 fresh pretzels, 20 dipping sauces, and a personalized note from the sponsor to an organization providing essential services. If the last year has taught the growing pretzel brand anything, it’s that all occupations are essential to the American economy and deserve a big “thank you” in the form of a pretzel sponsorship.
From healthcare workers to teachers to farmers to utility workers to food service professionals, Ben’s Soft Pretzels has been brightening others’ day and providing delicious fresh pretzels all across the country.
“We are not finished. We have thousands of more smiles to see. Our pretzels are not like anything else in the world. People smile ear to ear when they see a ½ pound Ben’s Soft Pretzels, pretzel heading their way. We like it that way, now we are asking for the Ben’s family to help us on this journey by sponsoring a facility,” said Brian Krider, Co-Founder of Ben’s Soft Pretzels.
About Ben’s Soft Pretzels
Ben’s Soft Pretzels is home to the World’s Greatest Soft Pretzel. One bite will forever change your perception of what a pretzel should taste like. The nearly half-pound fluffy, buttery, melt-in-your-mouth artisan pretzel goodness features imported German pretzel salt and 12 gourmet dipping sauces to choose from. Founded in 2008, Ben’s Soft Pretzels has become one of the nation’s fastest-growing soft pretzel franchises with 115+ locations in 11 states. For more information visit benspretzels.com and connect with Ben’s Pretzels on Facebook, Instagram, and Twitter. #worldpretzeldomination
Source: Ben’s Soft Pretzels
Category: Member News


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Rocket maker for NASA and the Air Force to begin 3D printing parts
United Launch Alliance (ULA), who makes rockets for NASA and the Air Force, is planning to 3D print 100 parts for the next-gen model of its Vulcan rocket, which is expected to launch in 2019. Rockets cost about $165 million for ULA, and 3D printers are expected to save as much as $1 million per year in manufacturing costs. Creating these parts in house with 3D printing allows ULA to maintain internal quality control without having to deal with other companies. ULA has previously used 3D printing to make molds and guides, but has not used it to make parts before. Additionally, the company expects to use 3D printing for “rapid prototyping of parts.” This allows engineers to test a part for functionality before having to go through production or deal with a supplier.
Would you expect 3D printing to be adopted in something like rocket manufacturing?
What other manufacturers do you think could benefit from 3D printing parts?


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Although Google has always insisted that the regular version of YouTube is not for children, it’s never offered a web version of the separate YouTube Kids app, which restricts content based on age and disables certain features such as commenting. That’s going to change this week, as Google has quietly revealed plans for a YouTube Kids website. YouTube is also tweaking the age groups for the Kids app, with different content for “Preschool” (ages 4 and under), “Younger” (for ages 5 to 7), and “Older” (for ages 8 to 12) kids. Previously, YouTube Kids had only two screening levels: 8 and under, and 9 to 12.
Strangely, Google seems to be downplaying the news, announcing it via a forum post (where it was spotted by Android Police) instead of its official blog. But as TechCrunch points out, the website launch could be tied to a rumored settlement with the Federal Trade Commission, which was investigating whether YouTube violated children’s privacy laws by tracking and targeting kids with ads. Because the regular YouTube site allows for such tracking—even for content that clearly appeals to children—any kids who used the site might have been subject to tracking. It’s possible that in the future YouTube will add an age gate to its site and redirect children to YouTube Kids instead.
Update: The YouTube Kids website is now live at youtubekids.com.


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Natural & Organic Awards Europe 2016
by Editor (comments: 0)
The winners of the coveted Natural and Organic Awards Europe 2016 were announced Monday the 18th of April at the Natural & Organic Products Europe trade show, which took place at ExCeL London. According to Business Wire, the awards, which celebrate the standout brands and products of the year, were hosted by Natural Products News in association with the Soil Association.
The ‘best new product’ awards were voted for by visitors to the show on the 17th of April and then judged by a panel of leading industry experts; including Al Overton (head of buying at Planet Organic), Julian Wright (purchasing director at The Health Store), Julie Goodwin (owner of Natural Health) and Jeff Martin (MD of As Nature Intended). The winners were selected from over 320 New Product Showcase entries, in categories covering food, health, beauty and natural living.
The winners in their respective category were: Bounce Foods, Booja-Booja, Pukka Herbs, Tsuno, Nutristrength, Tabitha James Kraan, Kinetic Natural Products Distributor, Natrasan, Hope’s Relief & Bodyverde, Inika Cosmetics, YES Organic Intimacy, G & G Vitamins, Wild Oats, Holland & Barrett, Lovechock, Viridian Nutrition and Natures Aid.
The next edition of Natural & Organic Products Europe will take place on 2nd and 3rd April 2017 also at ExCeL London.
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Join host Chris Hill and a panel of Motley Fool investment analysts each week as they cover the week’s top business news and financial headlines, while breaking down the stock market implications for investors. Plus, interviews with best-selling authors, industry experts, and an inside look at stocks on our radar.
New episodes available every Friday.
Mars makes some of the most popular chocolate candies in the world. It’s dedication for secrecy rivals Willy Wonka. Joelle Glen Brenner, author of the book The Emperors of Chocolate: Inside the Secret World of Hershey and Mars, shares why secrecy is such a crucial ingredient in the industry.
Intel falls on a big drop in its data center business. Netflix reports its weakest subscriber growth in 4 years. Tesla reports its 5th consecutive quarter of profitability. Southwest Airlines rises despite reporting its biggest loss ever. Chipotle falls despite a surge in digital sales. Procter & Gamble hits an all-time high. Boston Beer gets a big boost from hard seltzer and Twisted Tea. Coca-Cola reports better-than-expected profits. Quibi calls it quits. And Jack in the Box serves up chicken-scented face masks. Motley Fool analysts Ron Gross and Jason Moser discuss those stories, weigh in on some recent dividend hikes, and share two stocks on their radar: Ameris Bancorp and CRISPR Therapeutics. Plus, corporate governance expert and film critic Nell Minow shares some surprising insights on the state of the movie business.
Apple unveils its new iPhones. Fastly falls on TikTok concerns. United Airlines CEO predicts flying won’t return to normal until 2024. Amazon reports that third-party sellers brought in $3.5 billion on Prime Day. Intuitive Surgical deals with headwinds from the pandemic. Johnson & Johnson pauses its COVID vaccine trial. Disney restructures its business around streaming. Coca-Cola pulls the plug on Tab. And Edge Innovations makes robot dolphins a reality. Motley Fool analysts Ron Gross and Jason Moser discuss those stories and share two stocks on their radar: Visteon and Bed Bath & Beyond. Plus, Common Sense Media Founder Jim Steyer talks social media and the shifting technology landscape.
Even before he became CEO of Apple, Tim Cook was known as a steady operator who was both thoughtful and, at times, cautious. Best-selling author Leander Kahney shares how joining Apple in the late 1990s might have been the biggest risk Tim Cook has taken in his professional life.
Roku and Netflix rise on upgrades. AT&T prepares to sell DirecTV at a steep loss. Movie theater stocks AMC, Cinemark, and Cineworld tumble on news that Cineworld is closing all cinemas in the U.S. and U.K. IBM spins off its legacy business. AMD gets serious about acquiring chip maker Xilinx. Domino’s dips due to rising cheese costs. Software company Alteryx surges on a boost in guidance. Costco reports big sales numbers for September. And Apple and Amazon get primed for big events. Motley Fool analysts Ron Gross and Jason Moser discuss those stories and share two stocks on their radar: Equinix and EXP World Holdings. Plus, management consultant Roger Martin shares insights from his book, When More Is Not Better: Overcoming America’s Obsession with Economic Efficiency.
The market reacts to news that President Trump has tested positive for COVID-19. The Labor Department reports slowing jobs growth. Bed Bath & Beyond soars on surprising earnings. Twilio hits a new high. Pepsi gets a boost from snacks. McCormick serves up strong earnings and a stock split. Popeye’s gets into the chocolate-stuffed beignet business. And the Supreme Court of Ireland rules that Subway bread isn’t really bread. Motley Fool analysts Andy Cross and Ron Gross discuss those stores and share two stocks on their radar: Union Pacific and Rocket Companies. Plus, journalist Matthew Yglesias talks about his new book, One Billion Americans: The Case for Thinking Bigger.
Costco reports strong growth but shares slip. Nike just does it. AutoZone revs up revenues. Stitch Fix gets slammed. Tesla generates some buzz from Battery Day. Nikola founder and Chairman Trevor Milton abruptly resigns. Quibi explores strategic alternatives. And Amazon unveils an indoor drone security camera. Motley Fool analysts Andy Cross and Jason Moser discuss those stories and share two stocks on their radar: Unity and Inspire Medical. Plus, Wharton Professor and consumer behavior expert Katy Milkman talks temptation bundling and how an increase in temperature makes us bad at shopping.


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This is the sort of progress we can all root for. Two years ago, contrary to the expectations of many, The Car Wash Show in Nashville, TN drew close to 8,000 attendees, making it the largest show in 10 years. It even topped the attendance at the previous show in Las Vegas by 16 percent. Forward to 2017, with the show having returned to Las Vegas, and David Begin, then president of the International Carwash Association, was able to pronounce that event the biggest in 10 years.
With a preliminary tally of 8,788 registrants, the ICA, in a now familiar refrain, has declared the 2018 show, held in Las Vegas, the biggest in over a decade. We are inching ever closer to that five-figure attendance the association’s annual event was able to attract in 2004. Will we get there? With larger and larger numbers of car wash locations concentrated in the hands of fewer owners through consolidation, and with M&A activity on the rise among industry vendors, is the number of participants in the industry growing or declining?
In his address at the State of the Industry Breakfast, ICA president Haji Tehrani drew sharp distinctions between his experiences in the corporate world and those in the car wash business. While he labored in the former, information was kept close to one’s chest, lest a competitor gain an advantage. In the car wash business, operators share information as a matter of course, perfectly willing to help newcomers and peers alike. Imagine that, was Tehrani challenge to his audience. It was almost wistful, as if this unique industry characteristic was in danger of expiring. With the industry destined to become more corporate, that notion might not be farfetched.
Consolidation and mergers and acquisitions are not the only changes impacting the industry. Technology, both inside and outside the car wash business is advancing at a fast pace and, whether part of our industry or not, has an effect on how we do business. Within the industry, tech was evident on the show floor and in the seminars. From equipment control to access to payment methods to marketing — everything is being automated and/or digitized.
Perhaps the most daunting challenges come from the auto manufacturers. The connected car is now not only a mode of conveyance, but also a communication instrument, and a co-driver. Advanced driver assist systems (ADAS) help motorists to safely negotiate the roads, but create headaches for the car wash operator. In his presentation on New Car Technology at The Car Wash Show, Derek Kaufman of Schwartz Advisors foresaw the day, admittedly a long way off, when either a car wash button or recognition through vehicle telematics will alert the car that it is entering a car wash and automatically disengage the ADAS for the duration of the wash. Autonomous cars are a huge step up from ADAS, and while their presence is not an immediate concern, it serves those in the auto service industries well to monitor their progress. Kaufman figured that while individually owned cars would rack up approximately 15,000 miles a year, autonomous vehicles could be expected to do 150,000 miles a year. Those cars are going to get dirty real fast, real often.


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There’s hardly any sector that coronavirus hasn’t adversely affected.And the manufacturing industry is not an exception. What’s so debilitating about manufacturing on halt is hundreds of jobs could be placed in jeopardy. Multiply that on the whole American landscape, and you know things are hanging in the balance.
The manufacturing business is one of the major sectors in the economy, with a16% Gross Domestic Product globally. That’s a lot. But due to the COVID-19 outbreak, some companies decided to close their factories temporarily. This is because of the falling demand and many government restrictions. Still, some companies have already adapted and have been increasing in profit and productivity.
As companies slowly reopen, it is important to focus on emerging stronger for the next few years. To do so, prioritizing safety solutions and long-term health should be at the top of your list. And here are some primary steps you can take to increase your company’s productivity while keeping everyone out of harm’s way.
Keep Your Employees Safe As Possible
The rising threat of pandemic has become a challenge for manufacturers. That’s especially because factories cannot process without workers present. It’s as simple as that. For this reason, the safety and health of the employees should first and foremost be the top priority. Or you’d be shooting yourself in the foot if you don’t.
To limit exposure, you should consider having scheduled skeleton crews work in shifts. You should also get the same employees on individual crews and limit to just a few managers working at every shift.
Moreover, you should adjust your workspace so that you don’t encourage groupings and virus infection. A good way to do this is to install high-speed roll-up doors. By doing so, you diminish the risk of people waiting at the door, grouping and touching one another.
If your facility is big, make sure you install washing stations. That way, workers can rid themselves of the virus every time. Washing of hands is considered a vital protocol to contain the virus, CDC recommends.
Exercising flexibility is the key to help lower down the risk of spreading the virus. And to prevent workers from getting quarantined.
The Use of Power Automation in Manufacturing
For better quality control and monitoring, the use of power automation can free employees from repetitive operations. For one, intelligent automation helps in enabling factories with limited capacities to run smoothly just by using machines with remote monitoring. This alone has been very beneficial to the manufacturing industry.
In addition to that, AI is also helpful to automate better visual quality control during productions. The use of AI-enabled software and smart cameras helps manufacturers achieve better quality inspections than human inspectors. This technology came at the best timing, especially because of the social distancing rules that companies need to follow 24/7.
Be Innovative And Be Open To Change
Compared to pre-pandemic times, doing things the usual way may not be the best thing to do right now. The drastic change caused by the pandemic has made manufacturers more innovative in their operations. For example, many manufacturing employees are still working on site. But the use of 3D printers might make it work to produce products and goods while reducing the risk of exposure.
You should also consider changing new production goals and modes. Nowadays, many distilleries have been converting their alcoholic drinks into disinfectants. Due to the high demand for shipping boxes, paper producers and manufacturers are also producing cardboard and making more to-go boxes. So that restaurants that have been temporarily or permanently closed could use this for closure.
Even the slightest alteration can make a big difference to the way you operate your business. You need to produce products that are essential to the community. Do that, and you should be able to reap the fruits of your labor in the long run.


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By Aoife White, AP Business Writer
BRUSSELS, Belgium The European Commission on Wednesday endorsed a Nokia-backed mobile TV standard called DVB-H, saying Europe needed to pick one technology over others and promising to look at ways to mandate its use.
Europe's choice of DVB-H, or Digital Video Broadcasting for Handhelds, was expected. The move will likely prevent rival standards, such as U.S.-based Qualcomm Inc.'s MediaFLO and others developed by Chinese and South Korean manufacturers, from gaining ground in the world's richest market. The European Union has 490 million consumers.
DVB-H is an open standard that can be licensed by anyone. It was developed by European research institutes, has already lined up support from a group of companies headed by handset maker Nokia.
The EU said next year would be crucial in the growth of mobile TV; many people are expected to use their phones to watch the Beijing Olympics and the European Football Championship.
It said choosing one standard would stop market fragmentation such as happened in the Betamax versus VHS video wars of the 1980s.
The EU has taken the same tack before. In the 1980s it pushed GSM (the Global System for Mobile communications) for mobile phones, a move that saw Europeans switch to mobiles much faster than people in the U.S., where regulators did not mandate a single standard.
Now the European Commission, which heads the EU's executive branch, is asking member governments and industry to back DVB-H and its strategy for mobile television in Europe. It said it would come up with draft rules to mandate the use of DVB-H "if necessary and appropriate."
"Europe is today at a crossroads," EU Telecoms Commissioner Viviane Reding said. "We can either take the lead globally -- as we did for mobile telephony based on the GSM standard developed by the European industry -- or allow other regions to take the lion's share of the promising mobile TV market. Wait-and-see is not an option."
Mobile TV is still at an early stage in Europe. Italy boasts half a million users, while Finland only launched commercial services last month. France and Spain plan to do the same later this year. Mobile TV trials are taking place in Austria, Belgium, the Czech Republic, Ireland, Sweden and the Netherlands.
The European Broadcasting Union -- which represents major national public broadcasters such as Britain's BBC and Germany's ARD and ZDF -- said it was too soon to adopt one standard for mobile broadcasting.
"It should be up to businesses to define attractive business models that will entice consumers to opt for the standard they like best," it said.
In the U.S., regulators are not mandating a single TV standard for cell phones. Modeo, a unit of cell-tower builder Crown Castle International Corp., has started broadcasting using DVB-H in New York City, but few phones can pick up the signal. Verizon Wireless uses Qualcomm's MediaFLO, and AT&T Inc. is planning to do so.
Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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A P.E.I. man who used a stolen credit card to make purchases at McDonald’s and the Oak Tree Liquor Store was sentenced to 30 days in jail Tuesday.
Jesse Paquet, 24, appeared before Judge John Douglas in provincial court in Charlottetown for sentencing after he pleaded guilty in March to using a stolen credit card and breaching probation.
On Dec. 17, a residence in Lower Newtown was broken into and among other things, an RBC credit card was stolen.
Later that day, Paquet used the stolen credit card for a purchase at McDonald’s for $8.14 and again for $4.24.
On Dec. 18, Paquet bought $38.08 worth of liquor with the stolen credit card from the Oak Tree Liquor Store.
Crown attorney Nathan Beck said evidence does not support that Paquet stole the credit card from the residence, just that he used it three times.
Beck said the victim was reimbursed for her loses by RBC and that Paquet was co-operative with police when he was arrested.
The court heard housing appears to be the main issue for Paquet.
Beck said there are currently no beds available at Talbot House or through the Strength Program.
“There is not really anywhere for him to go at the moment,” said Beck.
Defence attorney Thane MacEachern says Paquet has been trying to address his addiction issues.
“He doesn’t want simply a room and board situation, he is looking to address some underlying issues,” said MacEachern.
Paquet told the court he messed up but is staying clean and sober after completing the detox program.
“I’m just trying to do my best,” said Paquet.
Paquet has a prior criminal record, including a number of a thefts and one possession of stolen property.
In addition to jail time, Paquet is on 12 months of probation and must pay $100 to the victims of crime fund.


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- Company plans mid-2018 commencement of adult-use market sales in Canada as it addresses medical segment opportunity
- The firm received its cultivation license during the fourth quarter of 2017, anticipates receiving its sales license by May
- Phillip Millar, MMG president, said company’s portfolio includes genetic strain that holds the highest level of CBD in Canada, sees potential in medical segment and for European export
Golden Leaf Holdings, Ltd. (OTCQB: GLDFF) (CSE: GLH) recently announced that its subsidiary, Medical Marijuana Group (“MMG”), has received its first order of genetics at its St. Thomas, Ontario facility as it transitions from a production location to a functioning plant-growing unit (http://nnw.fm/jB6a3). The move comes after MMG received its cultivation license in the fourth quarter of 2017.
The firm anticipates receiving its sales license by May, and it has already prepared applications for licenses for oil extraction and wholesale. The plants received at the St. Thomas location are expected to be ready for cultivation in three months, the company said, and it anticipates additional shipments in the future.
GLDFF is a Canadian company with operations in Oregon, Nevada and Canada, and it is one of the largest cannabis oil and solution providers in North America. GLDFF cultivates, extracts, manufactures and distributes its products through its own branded Chalice Farm retail dispensaries, as well as third-party dispensaries. Its advantages include a scalable and proprietary supply chain, low cost production of cannabis supply oils, high brand equity and a proven business model that’s exportable to other states.
“MMG Canada has bold expansion plans for 2018 as its prepares for the commencement of adult-use market sales in Canada in mid-2018, and to adequately address the ever-increasing medical segment opportunity,” William Simpson, CEO of the company, stated in a news release.
The company’s portfolio includes a genetic strain which holds the highest level of CBD in Canada. Phillip Millar, MMG president, added, “This genetic is extremely valuable in the medical market and also holds tremendous potential for European export. We are encouraged by the strong demand for our high-quality THC strains that we expect will provide a strong platform for dynamic growth across Canada.”
For more information, visit the company’s website at www.GoldenLeafHoldings.com
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(NBC NEWSCHANNEL) A potential faulty stand prompted Vizio to recall its 39-and-42 inch E-series flat screen televisions.
The company says the stand assembly can fail and cause the television to tip over unexpectedly.
Vizio has received 51 reports of the recalled televisions tipping over.
The recall impacts about one-quarter million televisions sold at Best Buy, Target, Walmart and other retail stores nationwide.
Consumers can also go to www.vizio.com and click on "safety notice" for more information.
Affected models are the E390-B0, E390i-B0 and E420i.
Unemployment fraud frustrating employees
Millions of your tax dollars are paid to thieves each year. They're ripping off you and the government by filing fraudulent unemployment…
Injury after Jeep airbag explodes for no reason
The recall repair process is supposed to fix safety hazards, but in one recall the airbags are still going off for no reason.
American Laser Skincare suddenly closes
A nationwide laser hair removal office closed its doors abruptly surprising customers and employees who are out cash.
Grills rusting exposing flame to propane tank
Grillers across the country say their grill is a safety hazard. The Consumer Watchdog exposes the problem and gets the manufacturer to take action.
Restaurant shut down for roaches 2nd time
Roaches shut down a restaurant for the second time this year. The changes the owner says he is making.


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Google is removing the “beta” label from many of its key services, including Gmail, Google Calendar, Google Docs, Google Talk, and Google Video for Business. The move is seen as a way to attract large businesses to Google Apps, its suite of messaging and productivity applications.
For most users of Gmail and Google Calendar, today’s news is little more than a lifting of the “beta” label for these already-reliable Google services. But Google says removing the “beta” label is a big deal for the businesses that it hopes will switch to Web-based Google services — and away from software-based services offered by Microsoft and IBM.
Bye Bye Beta, Hello New Features
Google says it has beefed up the Google Apps suite by adding offline access to e-mail and calendars and streamlinging access to Google Apps for BlackBerry users. Google also says that its Web-based messaging platform is now more compatible with Microsoft Outlook and it has improved contact management for Google Apps.
Google hopes large businesses will now feel more comfortable about entrusting Google with its core communications services. A Google Apps Premier Edition account, which includes Gmail, instant messaging, documents, and spreadsheets (among other apps) cost businesses $50 per user per year.
“We’ve come to appreciate that the beta tag just doesn’t fit for large enterprises that aren’t keen to run their business on software that sounds like it’s still in the trial phase,” wrote Rajen Sheth, senior product manager, Google Apps, in a blog post announcing the changes.
Google: The Little Guy
“No business is going to rely on a ‘beta’ service for something as important as e-mail,” says Matt Cain, lead e-mail analyst with market research firm Gartner. But, he adds, just by lifting the beta label does not guarantee Google success.
Google may be a giant in the search engine space, but the company is only a bit player when it comes to providing e-mail to businesses. Microsoft owns about 70 percent of the e-mail market, followed by IBM with 17 percent, according to Gartner. Cain says Microsoft and IBM don’t have any serious competition yet, but can expect nipping at their heels from Web-based services such as Google and a new offering from Cisco expected as a result of the company’s purchase of PostPath. These services are cloud based, meaning companies don’t have to host servers on site and any heavy infrastructural lifting is done by the provider offsite. Google’s pitch for its communications suite also includes a claim that Google Apps can save companies 50 to 70 percent compared to “other e-mail solutions.”
In recent months Google has stepped up its battle against Microsoft to win over the enterprise business market. Last month Google released a new plug-in that allows businesses to switch to Google Apps. The utility can migrate a company’s e-mail, calendar, and contacts to Google’s cloud while retaining the interface of Outlook.
“Google has listened to what enterprises want, and it has delivered much of that,” Cain says. Google says it manage 15 million business inboxes and “tens of millions” more consumer Gmail inboxes.
Cain doesn’t anticipate cloud-based e-mail management to pose a threat to offerings provided by Microsoft and IBM for another two to four years.
Bring Back the Beta!
Google representatives say by no means does the removal of the beta label mean Google will stop innovating and experimenting with new features offered through Google Labs for Gmail, Google Calendar, and other Google App services. It says existing Google Labs users can re-enable the beta label for Gmail from the Labs tab under Settings.


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Microsoft and SAP promote co-operation
Microsoft Viet Nam and SAP announced their partnership.
Microsoft Viet Nam and SAP – one of the global leaders in enterprise software – on Friday announced a strategic partnership.
This mutual collaboration aims to propel Viet Nam’s Industry 4.0 by providing integrated offerings from both companies for enterprise customers in Viet Nam to be able to drive more business innovation in the cloud. This collaboration will also help accelerate SAP and Microsoft’s cloud business growth in Viet Nam.
As leaders in enterprise software, SAP and Microsoft are aligning closely to provide companies in Viet Nam with the safe and trusted path to digital transformation. SAP and Microsoft are moving ahead in bringing SAP’s various software and services to Azure. The two tech giants will also co-engineer, go to market together with premier solutions and provide joint support services to move forward to the best cloud experience for customers.
General Director, Microsoft Viet Nam, Pham The Truong, said “The strategic partnership with SAP marks a milestone for Microsoft in not only powering our own organisation, but also powering our enterprises in Viet Nam to run their most mission-critical applications and workloads with SAP S/4HANA on Azure.”
“We are taking our relationship to the next level with this new capability to run SAP S/4HANA in the Microsoft Azure environment,” said Josephin Galla as Managing Director, SAP Viet Nam. “The world’s significant businesses trust Microsoft and SAP. This trusted, optimised and seamless enterprise-ready cloud strategic partnership will help businesses in Viet Nam accelerate their digital transformation. Together, we will help Vietnamese companies leapfrog and thrive in Industry 4.0.”
SAP HANA Enterprise Cloud — SAP’s private managed cloud service — on Microsoft Azure allows customers to run SAP S/4HANA in a more secure, managed cloud. With SAP HANA Enterprise Cloud on Azure, customers get the best of both worlds: application management and product expertise from SAP and a global, trusted and intelligent cloud from Microsoft Azure, including the range of Microsoft cloud services.
Around 85 per cent of businesses in the world’s Fortune 500 are operating on Microsoft and SAP systems. In Viet Nam, there are 15 firms starting their digitalisation progress by running SAP service in the Microsoft environment.
Xiaomi unveils new products to welcome 3rd year in Viet Nam
Redmi Note 7. – VNS Photo courtesy of Xiaomi Vietnam
Global technology company Xiaomi launched the Redmi Note 7 in HCM City on Thursday.
The company said the mobile phone was one of four new products it is launching that day to kick off its third year in the Vietnamese market and expand its already large product portfolio.
“In March 2017 Xiaomi first entered Viet Nam with its distributor agreement,” Steven Shi, Xiaomi’s head of Southeast Asia, said.
“We started with nothing here other than some very loyal Mi Fans. In the two years that have passed we have built a brand that sees us number four in the market, oversees a range of Mi stores spanning the nation, and offers a full eco-system of products that we are adding to today.”
“We promised Viet Nam that we would deliver on our Innovation for Everyone mission here, and today we are once again fulfilling that promise to the market,” he said.
It has a 48mp camera with enhanced light sensitivity that captures bright, clear images even in low light. The camera is coupled with the company’s latest AI features.
The Redmi Note 7 will be available in blue and black and cost from VND3.99 million (US$175) to VND5.96 million ($261) when it hits shop shelves on March 28.
The Redmi 7 was also unveiled at the event. It features a 6.26-inch display and 12+2 MP dual cameras. The company said the phone would enter the “record books for the power it packs at an incredible price point.”
It is also available in blue and black and costs VND2.99 million ($131).
The other products launched at the event were the Mi Home Security Camera Basic 1080 and 16-million color Mi LED smart bulb, which the company said could last 11 years.
They will be available from Match 28 for VND699,000 ($31) and VND499,000 ($22).
MoT backs Vietjet’s plan to expand Dien Bien Airport
Dien Bien Airport in the northern province of Dien Bien. — Photo maybaygiare.vn
Vietjet’s proposal to expand Dien Bien Airport in the northern mountainous province of Dien Bien has received support from the Ministry of Transport (MoT).
The new-age airline wants to build the airport’s new passenger terminal at an expected cost of nearly VND1.85 trillion (US$79.6 million) under the build-operate-transfer format with a contract term of 55 years.
The airline also said it would prioritise renting the new terminal after the contract expired.
In a recent report, the MoT said Vietjet had asked Dien Bien’s People’s Committee to set aside VND1.21 trillion to fund site clearance and resettlement of affected families.
The local budget would cover new facilities such as runways, a taxiway, apron and roads at VND1.34 trillion and a new air traffic control tower worth VND60 billion, as per the report.
Vietjet estimated that the expansion of the airline would take 24 months, the report noted.
The Airports Corporation of Vietnam (ACV) would retain its position as the operator of the airport. In term of the new passenger terminal, ACV would team up with Vietjet to recruit staff for the terminal, parking lot and other supporting facilities.
The provincial People’s Committee had previously stressed the importance of upgrading the airport in a document sent to the MoT.
According to the MoT, Dien Bien Province needed to balance its budget for the clearance work amid State budget constraints. The central budget could only set aside VND1.34 trillion for the project.
The ministry also suggested the Prime Minister to assign the Commission for Management of State Capital at Enterprises and the ACV to promptly work out an effective funding solution for the airport’s expansion if the province failed to get sufficient financing from the State.
Hanoi Plas Print Pack expo attracts 50% more exhibitors
The 2019 Hanoi Plas Print Pack, a biennial international exhibition on the plastic, print and packaging industry, will be held in Ha Noi next month with 50 per cent more exhibitors than last time.
The 10th edition has attracted 180 exhibitors from 10 countries and territories – India, Taiwan, the Netherland, South Korea, Hong Kong, Malaysia, Japan, Singapore, China, and Viet Nam – and will feature South Korean and Taiwanese pavilions.
It will feature most phases of the production process. In the raw material segment, for instance, companies like Toyo and De Paauw will introduce plenty of products made from high-quality plastic materials and recycled plastics, while Chyi Yang, Aoxiang and Polystar will showcase multi-layer plastic film blowing machines.
In packaging, Hemingstone and Chao Wei will exhibit bag-making machines with various functions.
In the printing segment, Truong Thinh will introduce German industrial inkjet printer Leibinger while Queesense will present aniline printers for polyethylene, mobile phone, paper, and other packaging materials.
In addition to showcasing the latest products and technologies, the exhibition will also feature a workshop on Industry 4.0 opportunities in the Vietnamese plastic and packaging sector, which will help participants understand more about the market.
According to Mordor Intelligence Research, the compounded annual growth rate of the Vietnamese plastics market will be 6.63 per cent in 2018-23, with the largest driving force being injection molding, which is used to produce thin-walled plastic parts such as household appliances, household electronics and automobile control panels.
To be organised by the Viet Nam National Trade Fair and Advertising Company (Vinexad), Yorkers Trade and Marketing Service Co Ltd and the Viet Nam Plastics Association, the exhibition will be held at the Hanoi International Exhibition Centre from April 24 to 27.
It is expected to attract over 8,000 trade visitors.
Rice farmers in Tiền Giang switch to saltwater-resistant crops
Farmers in Tiền Giang Province’s Tân Phú Đông District categorise lemongrass they have harvested before selling them to traders.
Farmers in Tiền Giang Province’s Tân Phú Đông District have turned nearly 500ha of low-yielding rice paddies into lemongrass and soursop farms because of saltwater intrusion and drought.
The two crops can tolerate high levels of salt.
The rice paddies used to yield only one rice crop each year in the rainy season because of the saltwater and drought in the dry season.
Now farmers grow lemongrass on 360ha and soursop on the rest.
Besides being hardy, they also offer high yields and are in great demand in the market.
Nguyễn Văn Sum, who grows lemongrass on his 0.7ha of rice paddy in Tân Phú Đông’s Phú Thạnh Commune, said lemongrass is easy to grow and suits the soil and harsh conditions in the district.
He harvests around 30 tonnes a year and earns VNĐ50 million (US$2,150) a year, many times the money he would make from rice, helping his family escape poverty, he said.
Lê Hồng Đáng of Tân Phú Đông’s Phú Đông Commune has converted his 5,000sq.m rice field into a soursop orchard.
It gives high yields of 5-7 tonnes of fruits a year and he earns VNĐ70 million ($3,020), he said.
He has also taught dozens of poor rice farmers in the neighbourhood how to grow soursop and helped them switch.
Phú Thạnh and Phú Đông are the most affected in the district by saltwater intrusion and drought. Previously farmers would grow one rice crop in the rainy season and leave the field fallow in the dry season.
The district is located at the end of the Tiền River, a tributary of the Mekong, and is badly affected by saltwater intrusion as a result when the water flows backwards in the dry season.
Under the district’s agricultural restructuring plan in the period to 2020, it is identifying crops that can adapt to saltwater and drought and provide high incomes such as lemongrass and soursop.
The district has about 1,500ha under lemongrass and an annual output of 22,000 tonnes.
It is planted in fields, embankments, along roads and around houses in the district.
Some farmers still rotate between lemongrass and rice while others have given up rice.
The district had nearly 1,000ha under soursop as of the middle of last year compared to 600ha in 2015, according to its Agriculture and Rural Development Division.
The fruit provides some 10 times the income as rice, it said.
Soursop can be harvested throughout the year.
The district’s soursop is sold in other delta provinces but mostly to HCM City. The fruit is eaten fresh or used to make fruit shakes and jams.
Nguyễn Văn Hải, head of the division, said the district plans to use all low-yield rice fields to grow lemongrass, soursop and other high-value crops that can tolerate the district’s harsh natural conditions next year.
The crops help farmers improve their lives, he said.
The district had more than 3,500 poor households last year, or a 31 per cent rate.
Tân Phú Đông, one of Tiền Giang’s poorest districts, aims to reduce the rate to 19 per cent by next year.
Trà Vinh shrimp farmers earn more from staggered breeding
A rice field used for both growing rice and breeding aquatic species like shrimp in Long Hòa Commune in Trà Vinh Province’s Châu Thành District.
Giant river prawn farmers with more than one pond in the Mekong Delta province of Trà Vinh increased their incomes by staggering the release of prawn fry into their ponds through the last breeding season to ensure there was no oversupply and prices remained high.
In the past, farmers used to release and thus harvest the prawns together, running the risk of oversupply and losses if prices declined.
But this time, they were advised by local agricultural officials to stagger the release.
Nguyễn Văn Nam, who has bred the prawns in Châu Thành District’s Long Hòa Commune for five years, said he earned VNĐ200 million (US$8,620) from two ponds with a total area of 1.2ha in the 2018-19 season.
At the beginning of the season he began to breed fry in one pond and a month later in the other.
After eighth months he harvested the largest prawns (making eight to 12 to a kilogramme) in the first pond and left the smaller ones untouched. One month later, he did the same in the second pond.
He kept harvesting the prawns when they reached market size, and this way he harvested them several times during the crop, he said.
Giant river prawn is one of the aquatic species that Trà Vinh authorities encourage farmers to raise in both brackish water and freshwater since it is easy to breed and resistant to diseases.
Giant river prawns can live in water with a salt content of 0.4-0.6 per cent and so can adapt to areas affected by saltwater due to climate change.
The province has some 2,100 households raising them in nearly 2,000ha of ponds and producing 1,500 tonnes annually, according to the province’s Fisheries Sub-department.
They earn an average of VNĐ50 – 70 million ($2,155 – 3,120) per hectare per year.
Households who breed only male prawns earn up to 1.5 times more than those breeding both sexes.
The giant river prawn, black tiger shrimp and white-legged shrimp are the province’s major shrimp species and are bred in brackish water.
Trà Vinh has 30,000ha of brackish water where more than five billion shrimp are bred annually, according to the Department of Agriculture and Rural Development.
But there are only 48 establishments producing fry which meet only 45 per cent of local demand.
The province thus has to buy fry from other elsewhere, mostly from the neighbouring province of Bạc Liêu and south central provinces of Ninh Thuận and Bình Thuận.
Phạm Minh Truyền, director of the department, said it was difficult to monitor the quality of fry since the province buys large volumes from other provinces.
Many farmers in Trà Vinh have been affected by the slow growth of their shrimp this year because of the poor quality of fry, according to the department.
Lê Thị Nhàn, who has a 0.3ha pond in Cầu Ngang District’s Vinh Kim Commune, said she bred 15,000 white-legged shrimp fry this year and they only reached a weight of 99 to a kilogramme after two and a half months.
In previous crops, they would often reach a weight of 82 to a kilogramme within two months, she said.
Ten of her neighbours also faced the same situation this year, she added.
To improve oversight of fry quality, Trà Vinh has signed agreements with provinces from which it buys them.
Besides it has solicited investment in farms to produce fry.
The province breeds shrimp under various models like industrial farming, extensive farming, breeding in mangrove forests, and farming shrimp in rice fields in the dry season.
Quang Tri to launch major port projects
My Thuy port in design (Photo: baodautu.vn)
The construction of two key port projects worth more than 14.8 trillion VND (636.4 million USD) is scheduled to begin in the central coastal province of Quang Tri this year.
The Nam Cua Viet specialised seaport will be built on 19 ha within the 120ha Cua Viet port in Trieu Phong district in May. Funded by the CFG Quang Tri Co. Ltd, the project is set to cost 640 billion VND (27.52 million USD).
It consists of two phases. The first phase, lasting until 2020, is expected to construct two wharves serving ships weighing 3,000 – 5,000 DWT and capable of handling 0.2 – 0.5 million tonnes of throughput per year. The second phase will kick off after 2020, building another two wharves for boats of similar or bigger sizes compared to those in the first phase, with annual throughput capacity of 1 – 1.4 million tonnes.
In September, the construction of the 685ha My Thuy port is scheduled to begin in the East – South Quang Tri Economic Zone in Hai An commune, Hai Lang district. The three-phase project, costing in excess of 14.2 trillion VND (611.2 million USD), will build 10 wharves, each capable of handling 100,000 DWT vessels.
The area aims at providing port services for the economic zone, local industrial parks, and goods in transit from Laos and norteastern Thailand on the East-West economic corridor.
Seaport logistics sector to play bigger role in Hai Phong’s economy
A container is loaded onto a truck at Tan Vu Terminal of the Hai Phong port complex
The northern port city of Hai Phong is working to develop logistics services so that they will contribute 25 – 30 percent of its gross regional domestic product (GRDP) by 2030.
The target was set in the city’s plan for logistics services development until 2030.
Hai Phong hopes that by 2020, logistics services will enjoy an annual growth rate of 25 – 30 percent and contribute 15 – 20 percent of the GRDP. The respective figures are aimed at 30 – 35 percent and 20 – 25 percent by 2025.
The city looks to have a basically complete logistics network by 2030, when the sector will maintain a growth pace of 30 – 35 percent and its contribution to the local economy will reach 25 – 30 percent.
To realise these targets, the city is developing various logistics services, especially the ones serving local seaports and airport such as goods transportation, customs clearance, and container storage and loading services.
By 2025, it will develop six logistics centres able to handle about 90.65 million tonnes of goods per year, or 50 – 60 percent of the goods volume that needs logistics services in the city.
These centres will be upgraded and expanded by 2030 to handle 140.35 million tonnes of goods each year, or 60 – 65 percent of the goods volume needing logistics services.
Under this plan, the city will promote the training of logistics human resources to raise the rate of trained workers in this sector to 70 percent by 2025 and 80 percent by 2030.
Chairman of the municipal People’s Committee Nguyen Van Tung said Hai Phong is a port gateway which ranks first in the northern region and second in Vietnam in terms of the goods volume handled.
Notably, the Hai Phong and Lach Huyen port complexes hold the utmost importance in Vietnam when they are located near international shipping lanes and are connected with existing facilities to form a system of terminals. This will increase the volume of goods transported via the city as well as demand for logistics services in the time ahead.
HCM City backs Thailand’s KBank to open first branch in VN
Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen (R) and First Senior Vice President at KBank Pattanapong Tansonboon
Ho Chi Minh City will create favourable conditions for Thai-based Kasikorn Bank (KB Bank) to open its branch in the city, the first of its kind in Vietnam, helping diversify local credit and banking activities, Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen has said.
Hosting a reception for First Senior Vice President at KBank Pattanapong Tansonboon on March 22, Tuyen spoke highly of the bank’s strengths in small and medium enterprise (SME) lending and digital banking services, and said that the bank’s development strategy in Vietnam is in line with the city’s orientations.
He hoped that during its operation in the city, KBank will enhance cooperation and share experience in financial management and development of financial and credit services with Vietnamese partners.
Pattanapong Tansonboon, for his part, said that the bank stands ready to share experience with the Vietnamese city in supporting SME development, handling bad debts, branching out digital banks and implementing cashless payment.
KBank is one of the leading providers of SME lending in Thailand. The bank received licenses to reopen its representative offices in Hanoi and Ho Chi Minh City in 2014. It is going through procedures for another license to open its first branch in Ho Chi Minh City, Vietnam’s biggest economic hub.
Vietnam, RoK boost financial, economic partnership
Participants pose for a group photo at the conference
The eighth international economic and financial conference of Vietnam and the Republic of Korea (RoK) took place in Hanoi on March 22.
The event was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) in coordination with Vietnam’s Ministry of Finance, the RoK’s Financial Services Commission, and EDaily magazine.
Deputy Minister of Finance Tran Xuan Ha said the cooperation between Vietnam and the RoK has deepened in various fields after over 25 years of establishing diplomatic ties, particularly in economics and finance.
He noted that in 2018, two-way trade reached 65.7 billion USD.
The RoK is now the biggest foreign investor in Vietnam. In the past five years, the RoK’s annual registered foreign direct investment (FDI) has always been at around 7-9 billion USD.
The RoK is also one of Vietnam’s biggest bilateral donors with many loans through the Korea Economic Development Cooperation Fund (EDCF). So far, the RoK Government has signed 55 credit agreements with Vietnam worth a total 2 billion USD.
More than 6,600 RoK investors have joined the Vietnamese stock market and six RoK-invested securities companies are active in Vietnam. RoK insurance firms are also operating effectively in Vietnam.
The Deputy Minister gave a brief overview on the economic situation in Vietnam, highlighting an impressive growth of over 7 percent in 2018.
Last year, Moody and Fitch credit ratings organisations upgraded their outlook on Vietnamese Government bonds to stable, he said.
Vietnam is an ideal destination for major trans-national groups, including those from the RoK such as Samsung, LG and Lotte, he added.
The Southeast Asian country has attracted more than 27,000 FDI projects with total registered capital of over 335 billion USD over the past 30 years. The total FDI disbursement was 185 billion USD.
In the coming time, the Vietnamese Government will push ahead with institutional reforms while maintaining macro-economic stability, curbing inflation, and ensuring major balances of the economy, he said.
“We will continue restructuring the economy, especially public investment, State enterprises, in addition to improving the business environment and promoting economic growth in a rapid and sustainable manner,” the deputy minister affirmed.
While evaluating the cooperation potential of the two countries, chairman of EDaily Kwak Jea-sun said Vietnam is the most important partner of the RoK in the ASEAN in terms of promoting new investment policies in all arenas such as education and human resource exchanges.
He noted that in 2018, the two countries exchanged 3.3 million workers and Korean companies have been continuously expanding investment in Vietnam.
Commercial transactions between the two sides have been promoted, he said, adding that Vietnam is the third biggest export partner of the RoK, after China and the US.
Vietbuild Hanoi to feature over 1,600 pavilions
More than 1,600 pavilions will be set up at Vietbuild Hanoi 2019 (Photo:tuoitrethudo.com.vn)
More than 1,600 pavilions will be set up at the Vietbuild international exhibition, the largest exhibition of the construction sector in Vietnam, which will take place in Hanoi from March 27-31.
The event is expected to draw nearly 200 domestic businesses, 45 joint ventures and over 160 foreign groups and enterprises from 18 countries and territories, heard a press conference in Hanoi on March 22.
Representatives from the organising board said the construction material sector faces many difficulties in 2019, as many foreign companies will be able to export their goods to Vietnam under free trade agreements to which Vietnam is a member.
Therefore, domestic companies are striving to enhance their competitiveness and improve product quality in order to compete with their foreign counterparts.
Following the success of the previous events, Vietbuild Hanoi 2019 provides a venue for businesses to display their latest products in the fields of construction, building materials, real estate, and interior and exterior decoration.
Last year’s expo attracted 1,500 booths run by nearly 400 domestic and foreign companies.
Vietnam learns international experience in building e-government
At the workshop (Source: http://vpcp.chinhphu.vn)
A workshop was held in Hanoi on March 22 to seek ways to improve the institutional framework for e-identification and e-authentication in e-government development towards a digital government and economy in Vietnam.
The event was co-organised by the Vietnamese Government’s Office, the Ministry of Information and Communications, the World Bank, and the Australia Agency for International Development.
Participants shared effective models which are being carried out in some countries such as Estonia, Singapore, Thailand, and Denmark, and talked about challenges during the implementation process.
Minister and Chairman of the Government’s Office Mai Tien Dung said e-identification and e-authentication in e-government building is important to the reliability of e-transactions, especially online public services.
He said nearly one billion people globally lack identification while the remaining 6.6 billion people have some form of identification but more than half of the identification forms cannot be used effectively in the today’s digital ecosystem.
He pointed to the fact in Vietnam that individuals and organisations have many codes such as health insurance codes, social insurance codes, tax codes, and bank deposit codes.
In absence of a national database on population, the Prime Minister has requested domestic and foreign experts to devise ways to authenticate identification using these codes as soon as possible.
According to Dung, most public services portals and information systems in Vietnam still use accounts and passwords to authenticate identification of users, which does not ensure accuracy.
He said Vietnam is building institutions to ensure the confidentiality of personal information, connection, sharing, identification and authentication as well as information security during the process of transaction.
The country launched the National E-Document Exchange Platform on March 12.
The national public service portal will be launched in the fourth quarter of this year.
The Minister hoped the World Bank, the Australian Government, and international experts will continue supporting Vietnam to build the e-government.
Can Tho seeks logistics centres for air transport
Can Tho International Airport
The Mekong Delta city of Can Tho needs to develop logistics centres to meet increasing demand for the transportation of goods by international and domestic airlines.
Vo Thanh Thong, chairman of the city’s People’s Committee, made the statement at a recent meeting with the Ministry of Industry and Trade (MoIT)’s delegation. He added that four businesses have put forward proposals to develop such centres in cooperation with the city.
Logistics services for the transport of goods by air are very important for Can Tho and the Mekong Delta region, Thong said, because agricultural products, especially farming and fishery products, must be fresh if they are to be sold at high prices. Therefore, besides preservation, the moment of transport for those products is very important.
At present, Can Thơ International Airport is connected with Hanoi in the north, Da Nang in the central region, and Phu Quoc and Con Dao islands in the south. In 2019, the airport will be connected through five new domestic routes to the northern port city of Hai Phong, Thanh Hoa, Vinh, and Nha Trang in the central region, and Da Lat in the Central Highlands and two international routes to Bangkok (Thailand) and Kuala Lumpur (Malaysia).
Can Tho expects to exploit these routes for both transporting passengers and cargo, Thong said. Therefore, demand for logistics services is high, especially demand for the transport of fresh agricultural products.
Municipal authorities are in the process of studying the four investors that have made proposals to choose suitable partners, according to the official.
He said the projects need support from the Ministry of Industry and Trade and the Ministry of Transport to ensure efficiency, especially in terms of selecting partners.
At the meeting, Minister of Industry and Trade Tran Tuan Anh said the ministry would continue to discuss more details about the development of air logistics centres with Can Tho’s authorities.
He said now the MoIT is in the process of talking with a Japanese partner about the development of a food processing centre in the Mekong Delta region. Under the project, an air logistics facility will be developed to serve the food processing centre.
The minister also asked Can Tho to pay more attention to attracting enterprises, especially from the Republic of Korea and Japan.
In August 2018, Can Tho City People’s Committee and Vietnam Airlines Corporation (Vietnam Airlines) signed an agreement to develop the Can Tho Air Logistics Centre on an area of about 27 hectares next to Can Tho airport.
FDI firms contribute ideas to promote growth in HCM City
An FDI firm in Ho Chi Minh City
Representatives from foreign-invested (FDI) enterprises in Ho Chi Minh City contributed their ideas and recommendations to spur growth in the city at a meeting with municipal leaders on March 23.
Secretary of the city’s Party Committee Nguyen Thien Nhan hailed the development of the FDI sector in the city, which has become one of the growth drivers for the city. He reported that 1.55 billion USD had been poured into HCM City in the first three months of 2019, up 20.4 percent from the same period last year.
The official said the new trend of technological development and globalisation has required the city’s administration to reform its management in order to create a favourable environment for business activities and innovation.
Chairwoman of the American Chamber of Commerce in Vietnam (AmCham) Amanda Rasmussen said at the meeting that HCM City has made progress in facilitating business activities and goods circulation.
However, she said the frequent change of laws and regulations, including taxation policies and tax rates, is causing difficulties to foreign investors, as it affects their business and investment plans.
Vice Chairman of the European Chamber of Commerce in Vietnam (EuroCham) Tomaso Andreaatta affirmed that HCM City is an attractive destination for foreign investors, including those from Europe. However, to achieve a breakthrough in growth and foreign investment attraction, the city should accelerate infrastructure projects and take effective flood control measures along with improving public transport.
Andreaatta added that as European investors pay great attention to the environment, HCM City should set up a body to manage the discharge of waste water in industrial parks and propose the Government issue policies on air quality and public transport development, thus ensuring a clean living environment for the city’s residents and foreign investors.
Carlos Dominguez Agulleiro, deputy head of the Economic and Commercial Office of Spain in HCM City, said an increasing number of Spanish enterprises are making the decision to invest in Vietnam. If in the past they were attracted to the country by the low labour cost, now they choose the country based on high growth, stable macroeconomic foundation and a clear policy on global cooperation.
At the same time, he pointed to existing hurdles to the flow on investment into HCM City, including a lack of transparency of procedures, which causes delay and uncertainty for enterprises and investment projects. In addition, delayed transport projects have affected the pace of many investment projects, and the lack of suitable infrastructure has remarkably reduced the competitiveness of Vietnam in general and HCM City in particular.
Chairman of the municipal People’s Committee Nguyen Thanh Phong appreciated the recommendations of the foreign business community, and stressed that the city always considers the FDI sector an important part of the local economy and attaches importance to promoting the sector’s long-term development.
According to the official, the city is now home to more than 8,000 FDI projects with total registered capital of nearly 45 billion USD. With an average 20 billion USD of export revenue each year, the FDI sector accounts for 58.7 percent of the city’s total export value. The sector is employing 670,000 workers and creating indirect employment for millions of others.
Phong affirmed that the city will continue with efforts to create a favourable and competitive investment environment in accordance with international standards and commitments in new-generation free trade agreements to which Vietnam is a member. The city’s administration will always listen to investors and work closely with them for the city’s sustainable development and the investors’ success, he said.
BIDV named as Best Retail Bank in Vietnam for five consecutive years
The Bank for Investment and Development of Vietnam (BIDV) was named the Best Retail Bank in Vietnam for five consecutive years.(Photo: vnexpress.net)
The Bank for Investment and Development of Vietnam (BIDV) was named the Best Retail Bank in Vietnam for five consecutive years by The Asian Banker Magazine.
The award was presented to the bank at a ceremony held in Dubai, the United Arab Emirates on March 21, in conjunction with the Excellence in Retail Financial Services International Awards 2019.
With this valuable award, BIDV has affirmed its unceasing efforts in providing the customers with high-tech products and services.
Last year, the bank paid due attention to promoting modern distributing channels and became a pioneer in applying the achievements of the Fourth Industrial Revolution to meet the diverse demands of the customers. Its prominent products include BIDV SmartBanking featuring virtual assistance, QRPay, online currency trading, BIDV Pay allowing customers to withdraw money at ATMs without cards, among others.
Besides, BIDV has improved customer services through the 24/7 Contact Centre and Social Medial Command Centre.
To date, the bank has launched over 100 products and services for individual customers.
As of December 31 last year, BIDV’s total assets exceeded 1.28 quadrillion VND (55.11 billion USD), the most among banks in Vietnam. The bank also posted more than 9.63 trillion VND (414.2 million USD) in pre-tax profit, an annual increase of 11 percent.
The bank was ranked 307th in the 2019 list of the world’s top 500 valuable bank brands recently announced by the Brand Finance, an independent branded business valuation and strategy consultancy firm. The ranking was up 44 places against 2018.
VN firms advised to stay alert to risks of US-China trade tension
Deputy head of the Trade Remedies Authority of Vietnam Chu Thang Trung
Vietnamese importers and exporters should stay alert and take a proactive approach to risks posed by the unpredictable development of the US-China trade tension, experts said at a workshop in Ho Chi Minh City on March 22.
Deputy head of the Trade Remedies Authority of Vietnam Chu Thang Trung said that the trade war between the two largest economies of the world has been affecting the goods trading flow, and increasing the US’s trade defence investigations against its big importers.
It has also forced the two countries’ enterprises to seek ways to intensify exports to third countries, putting import pressure on other markets, including Vietnam, Trung stated.
According to him, if the trade war is not solved early, there is a great risk for Vietnamese exporters to be subject to trade defence investigation and measures of the US.
He cited as examples several cases in the past, when the US’s investigation and trade defence tax targeting Chinese products were usually followed by measures against the same kinds of Vietnamese product 3-4 years later.
Lawyer Nguyen Thi Phuong Thao from IDVN Lawyers Firm said that the biggest risk of the trade tension for Vietnamese enterprises is the transfer of commodities from China to Vietnam. She said Chinese goods will enter Vietnam in the form of temporary import for re-export or for simple processing in order to gain Vietnamese origin, and then be exported to the US.
This move will help Chinese goods avoid high taxes, but it will be a good reason for the US to conduct an investigation and apply trade defence against Vietnamese products.
Therefore, she advised Vietnamese businesses to keep themselves up to date regarding trade defence measures imposed on products of China and other competitors. They should also think twice before using materials originated from China and other countries which are subject to US trade defence measures.
Meanwhile, Chau Viet Bac, Vice Secretary General of the Vietnam International Arbitration Centre (VIAC), suggested Vietnamese firms to take the initiative in assessing risks, avoid getting involved in the transfer of goods from China, and well keep documents on origins of products and materials.
Samsung Vina launches six new monitors
Samsung Vina Electronic launches six new computer monitors to meet the demands of users.—Photo news.samsung.com
Samsung Vina Electronics has launched six new computer monitors.
The new monitors include the Space monitor, UR59C curved monitor, CRG9 with 5K resolution, CR500 with three-sided bezel-less design and QHD resolution, and the CJG50 and CJG51.
Suh Kyung Wook, president of Samsung Vine Electronics, said the company had conducted research to improve the product and bring the best experience to users.
The new generation of monitors frees up desk space and improves image quality to meet users’ work and entertainment needs, he said.
The space monitor is designed with an integrated clamp design that allows users to adjust the height of the monitor to meet the needs and eye level of users.
With a flexible design and high resolution (the 27-inch version has QHD resolution and the 32-inch version has 4K UHD resolution), the space screen offers extremely detailed photos with the sophistication of a new-style screen.
The 49-inch CRG9 has 5K resolution and is considered to be the best monitor in the market for gamers. The CRG9 monitor also has HDR AMD Radon Free Sync technology which reduces lag and delay
The 32-inch curved UR59C monitor with 4K resolution has up to one billion colours, offering rich visual experiences, especially useful for designers.
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text:
ZestMoney co-founders quit after PhonePe deal falls through
The development comes two months after the much-talked-about acquisition of the buy-now-pay-later (BNPL) platform by PhonePe fell through.
Monday May 15, 2023,
2 min Read
Lizzie Chapman, Priya Sharma, and Ashish Anantharaman, the co-founders of, have officially resigned from the company.
The development comes two months after the much-talked-about acquisition of the buy-now-pay-later (BNPL) platform byfell through.
“Over the last few weeks, we have done a lot of thinking and whilst it has been very hard for us to arrive at this conclusion, we have decided that we will step away from our Operating roles as CEO (Lizzie), CFO & COO (Priya) and CTO (Ashish),” the management informed the team over an email seen by YourStory.
The trio will continue to be significant shareholders in the company.
“To reiterate; we are also immensely proud of the incredible team and the unique culture we built at ZestMoney - which was only underlined to us in recent weeks as we saw how everyone of us came together to support each other during one of the hardest times a startup can go through,” Chapman added.
Walmart-backed fintech decacorn PhonePe had been in talks to acquire Zestmoney for $200 million-$300 million since November 2022. However, in March, it walked away from the deal citing issues with due diligence, leaving ZestMoney high and dry. The deal would have strengthened the digital payments major's foothold in the lending space.
“Priya, Ashish and myself started ZestMoney almost 8 years ago with a dream of making life affordable for millions of Indians…we are proud of how far we went on that journey and the advances we made in truly democratising credit in the country using our path-breaking technology,” the email read.
The co-founder continues, “We have 100% belief and faith in the potential that ZestMoney has and the new management team who will step up at this time and we will do absolutely everything we can to support them and you, both over the next 4 months as we transition, and over the longer term.”
On reports of PhonePe taking over ZestMoney's assets and onboarding its employees, its Co-founder and CEO Sameer Nigam clarified the company did not take over the latter's assets.
“We bought a copy of their LSP tech IP & separately hired ~130 ZM employees. The Tech IP *copy* was purchase with the company's founders, board and investors' consent. The employees were hired with ZM's consent since they had to downsize,” Nigam wrote in reply to a Twitter post.
(The copy was updated to change the headline)
Edited by Kanishk Singh