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Shares of Microsoft (MSFT) surged $4.53, or 10.5%, to close at $47.87, after the company Thursday afternoon crushed fiscal Q3 revenue estimates and said its cloud computing business is on track to record $6.3 billion in annual revenue, and a surge in sales of its Surface tablet computer.
Today’s rise was the largest one-day point gain since October 19th of 2000, according to Dow Jones. The report of Microsoft’s cloud business comes as analysts are parsing Amazon.com‘s (AMZN) first-ever disclosure of its cloud computing financials yesterday.
The stock got some price target increases today, and also at least one upgrade, that I can see, from Rick Sherlund of Nomura Equity Research, who raised his rating to Buy from Neutral, while maintaining a $50 price target, on cloud progress, writing that “Azure appears to have turned positive on gross margins and Office 365 margins have expanded sharply to an estimated 60% and likely on their way to 80%.”
Sherlund thinks problems aren’t over, but fundamentals are “bottoming,” and “patient investors can consider moving to Microsoft over this transition period.”
We think the recent bad news at Microsoft is not over yet, with difficult comparisons in the June and September quarters and the pressures on the core business as the cloud conversions gain increasing traction. By calendar 2016, we believe organic cc growth returns to low single digits with growing cloud business and earnings growth can potentially be restored to 10% or so with the leverage of share repurchase, and continued strong cash flow generation. With a dividend yield of 2.9% we believe Microsoft compares favorably with its peers in the S&P at a reasonable valuation of
12.4x calendar 2016 estimated uFCF.
Sherlund raised his fiscal ’15 estimates to $93.4 billion and $2.60 per share from a prior $92.88 billion and $2.53 and $2.53 per share.
Elsewhere, most price targets are staying put, while analysts tweak numbers up and down, but not by much.
Ed Maguire, CLSA: Reiterates an Outperform rating, and a $50 price target. “With Windows 10 on deck and tough XP comps receding, PC-related revenues
are poised to recover into FY16 [...] Commercial revenues grew 7% in local currency with double-digit growth from annuity revenues and Server products. Commercial cloud services (which include Office365, DynamicsCRM and Azure) grew 111% YoY to an annualized revenue run rate of over $6.3bn. Consumer Office365 grew 35% QoQ. Cloud use cases are seeing net new workloads, mobile backend, machine learning and advanced analytics are new uses for Azure.” Maguire cut his 2015 estimates to $93.55 billion in revenue and $2.57 in EPS from a prior $94.06 billion and $2.50.
Philip Winslow, Credit Suisse: Reiterates an Outperform rating, and a $55 price target. “Despite an expected continuation of negative Windows and Office metrics (which has been broadly anticipated by Wall Street), Microsoft reported revenue, margins, and EPS above consensus expectations. Office 365 and Azure continued to show strong performance—with Office 365 reaching 12.4 million consumer subscribers (up 35% sequentially) and Commercial Cloud revenue growing 106% year over year. Although management guided FQ4 revenue below consensus and the acquisition of Nokia is proving harder than expected to stabilize, we believe the stage is set for improved PC shipments and Windows revenue growth in H1 FY2016 due to: (1) the release of Windows 10 in late summer driving an “inventory restocking,” (2) stabilization in commercial demand following difficult comparisons, (3) a slowdown in the tablet market, and (4) increased popularity of hybrid laptops. Furthermore, Microsoft’s margin outperformance this quarter and management’s operating expense guidance (which was well below its prior full-year guidance and consensus) reflects continued cost control discipline.” Winslow cut his 2015 estimates to $93.56 billion from a prior $94.4 billion, while maintaining his $2.67 EPS estimate.
Mark Moerdler, Bernstein Research: Reiterates an Outperform rating, and raises his price target a dollar to $56. “We believe the value in Microsoft is being driven by the continued rapid growth in Commercial Cloud and subscription revenue, neither of which shows signs of any meaningful deceleration. Microsoft’s Cloud KPIs show that Commercial cloud revenue continues to grow triple digits Y/Y (106% as reported and 111% in constant currency this quarter) with Office 365 commercial seats growing 84% Y/Y (see Exhibit 34). This is very impressive when considering that the annual run rate of the commercial cloud subscription business is now $6.3B growing 26% QoQ , larger than Salesforce.com’s subscription revenue annual run rate. As a standalone company, Microsoft’s cloud business would be unprecedented. Growth was driven by strength in Office 365, Azure, and Dynamics CRM Online. The company noted that Azure usage and revenue continued to increase along with ‘strong momentum’ in their Enterprise Mobility Suite. We note that the Enterprise Mobility Suite is a reasonably new offering and as such is not cannibalistic of Microsoft’s traditional on-premise revenue. Lastly, management confirmed that we are accurate in our estimate that Azure is now at a $1B annual run rate.”
Kevin Buttigieg, MKM Partners: Reiterates a Neutral rating, and a $48 price target. “Despite the upside to rev/EPS consensus of $600mn/$0.09, F3Q15 is still well below the guide down amounts last quarter (when guidance reduced by nearly $3bn for revs and $0.20 for EPS), indicating how low the bar was set. F4Q15 revs/EPS guidance is $700mn/$0.05 lower than consensus. This is largely the result of PC inventory reduction for the Windows 10 launch this summer and lower Phone sales from the move down market, while cloud growth offsets on premise revenue reductions [...] Looking out, rev growth should normalize for the WinXP cycle and Japan weakness, but we think profit growth will continue to suffer.” Buttigieg slightly raised his 2015 estimates to $93.51 billion in revenue and a $2.59 per share from a prior $93.508 billion and $2.50 per share.
Michael Turits, Raymond James: Reiterates a Market Perform rating. ” Basic trends remain the same: consumer (& devices) is declining ex-Nokia on weakness in PCs/Windows and Office license, somewhat offset by Office 365 (O365) strength. Commercial is growing despite the Office license drag. Cloud looks strong in both divisions. We expect declining Windows ASPs to continue to hurt consumer (D&C), but we’re getting past tough comps on the XP cycle and maybe Windows 10 will be a boost. We remain positive on Microsoft’s enterprise businesses and strategic move to cloud. However, at FY16 P/E in after hours, we feel MSFT is fairly valued given: a) stagnant PCs and secular price pressure on consumer windows; b) ongoing risk in
phone hardware; and c) transitional and long-term license/margin risk in the move to cloud.” Turits raised his 2015 estimates to $93.4 billion in revenue and $2.40 per share from a prior $92.5 billion and $2.33 per share.”
John DiFucci, Jefferies & Co.: Reiterates an Underperform rating, and a $38 price target. MSFT’s results were not as bad as feared, but pretty bad nevertheless, though the stock movement after hours indicates that the market sees “less bad” as “good”. Revenue/EPS were both better than guidance, which established consensus, but revenue was better due to more than expected transactional business and still only flat from a year ago (ex. acquired phone revenue), while earnings declined 11%. Guidance for revenue and implied EPS were both below consensus. What do F3Q numbers mean? They reflect that about 40% of revenue and 80% of profit is tied to the PC ecosystem. Much promoted “expense control” seems to be a perception game, since expenses have been increasing less than guidance, but increasing nevertheless. Unearned Revenue was less than expected due to greater transactional mix, which inflated revenue by at least $1B.” DiFucci raised his 2015 estimates to $93.49 billion and $2.58 from a prior $92.96 billion and $2.49.
The stock has gotten at least one upgrade this morning, from RBC Capital’s Mark Sue, who raised his rating to Outperform from Sector Perform, and raised his price target to $29 from $22, writing that “the period of negative earnings revisions are now behind us,” and that there is “stabilization in the top- line” and “encouraging early signs of improving telco spend.”
Juniper’s been able to diversify away from the weak telco market, he writes:
Telco capex remains back-end load, yet diversification to data centers and cable is helping stabilize the business. Cloud providers are becoming meaningful of JNPR. Regionally despite FX, EMA/APAC seem to be firming as well. Deferred revenues (+9% QoQ) and book-to-bill (>1.0x) were also encouraging. Beyond the back-half, we expect new product cycles in routing, switching and security to begin contributing to growth.
And the routing “cycle” is finally coming around:
Routing (47% of sales, higher margin) is seeing improvements in demand at US carriers, cable and cloud providers, while Europe demand is returning, traction in APAC is improving and enterprise routing demand is solid as well, particularly in govt. Routing’s a cyclical business and we believe the routing product cycle is now turning; likely bottomed in 4Q14. Juniper expects routing revenues to grow 3-5% YoY over the next few years. It remains to be seen how share gains play out as Cisco intensifies vs. Juniper’s PTX and NorthStar.
Sue is not overly concerned:
The Nokia reseller arrangement contributes $190M/yr (~10%) so strip it out and CY15 EPS of $1.65 may decline to $1.55. Yet the timing of deal close (1H16) may provide some time for Juniper to refill the funnel. We’re less concerned near term given relationships with other equipment vendors, meaningful carrier relationships and a solid installed base.
Shares of Amazon.com (AMZN) are up $58.80, or 15%, at $448.79, and hitting a new all-time high of $449.25, building on last night’s gains, after the company yesterday beat Q1 expectations, forecast this quarter below, and blew away the Street announcing financials for its Amazon Web Services business for the first time.
By far the biggest feature of the report was the disclosure that AWS, as it’s known, far from losing money, makes 17% operating profit margin, on an adjusted basis.
“This is a good quarter; the shorts are going to struggle here,” said Jim Cramer on CNBC a short while ago, marveling at the revelation about AWS.
As analysts contemplate that shocker this morning, they of course are noting that the implication is the profit margin on simple retail sales of books and appliances and the rest is even lower than they’d thought, below 2%.
Price targets are zooming, and the stock has gotten two upgrades today, from Raymond James’s Aaron Kessler and from Janney Montgomery Scott’s Shawn Milne.
Raymond James’s Kessler, raising his rating to Outperform from Market Perform, with a $485 price target, notes improving overall margins for the business: “Non-GAAP operating margin of 3.1% was ~100 bp above our/consensus estimates driven by improved gross margins and modestly lower than expected operating expenses. Amazon also guided 2Q margins above consensus at the high end.”
He notes that ” AWS operating margin of 17% was significantly above our/Street expectations for flat/negative margins.”
Here’s Kessler’s sum-of-the-parts valuation model for Amazon:
Kessler raised his estaimtes for this year to $103.968 billion from $103.18 billion, but he cut his profit estimate to $3.29 from $3.51.
However, for the out year, he raised both revenue and profit, from $122.79 billion and $5.59 to $125.14 billion and $6.69.
Janney’s Milne, raising his rating to Buy from Neutral, with a fair-value estimate of $488, writing that “. AWS disclosure (much more profitable) was a curve ball vs. investors ‘expectations’ showing lower N.A. retail margins of 2.5% vs. ~5% expectations.”
However, “incremental margins in N.A. Retail are improving ~ 4% in Q1 – at the same time revenue growth accelerated – underscoring productivity efforts.”
He sees a path to greater profitability: “Added clarity on improving retail margins, strong 3P growth, and fast growing/profitable AWS suggests more upside opportunity to CSOI.”
￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼Amazon’s segmenting of its AWS unit was the big surprise of Q1 with AWS segment margins of 16.9% in Q1, 14.2% in FY14 — well ahead of general Street thoughts that AWS was in “investment mode,” and losing 5-10% (or more). As such, N.A. retail margins were 2.5% in fiscal 2014 — down from 2.8% in fiscal 2013 largely due to the Fire Phone mess which accounted for ~$100 million margin hit in Q3. Importantly, post the Q4 call where the CFO talked about focus on fixed and variable cost productivity, Q1 N.A. retail margins showed strong improvement at 3.9% (or within striking distance of prior expectations with incremental margins of 8.7% – underscoring productivity efforts and leverage on heavy Prime investments (contents/FCs, etc.)￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼￼
Data visualization and analytics software vendor Qlik Technologies (QLIK) this afternoon reported Q1 revenue and earnings per share that easily topped analysts’ expectations, but forecast results this quarter, and for the full year, below consensus, citing the effect of the rising U.S. dollar.
Revenue in the three months ended in March rose 8%, year over year, to $120.3 million, yielding a net loss of 9 cents.
Analysts had, on average, been modeling $113.9 million and a 14-cent net loss per share.
The company said that absent the effect of the rising dollar, revenue would have been up 23%.
CEO Lars Björk called the quarter “a terrific start to 2015,” noting the company’s “more comprehensive BI offerings, and expanded addressable market.”
CFO Tim MacCarrick explained the rising dollar will continue to weigh on results:
We are reiterating our full year 2015 constant currency guidance for revenue growth of 20-22%, which underscores the strong trends and underlying demand we are experiencing in the business. Since we previously set full year 2015 guidance in February, the US dollar has continued to strengthen. Therefore, based on current exchange rates, we expect our full year 2015 reported revenue to be negatively impacted by $15 million compared with our prior guidance. We are also maintaining our full year expectations for non-GAAP operating margins. We remain focused on delivering significant top-line growth while growing expenses at a slower rate, in order to drive incremental operating leverage.
For the current quarter, the company sees revenue in a range of $133 million to $137 million, and EPS ranging from a loss of 2 cents to a profit of 1 penny, excluding some costs. That is below the consensus for $141 million and 1 cent per share.
For the full year, the company sees revenue in a range of $600 million to $610 million, and earnings per share of 32 cents to 35 cents. That is below the consensus for $619 million and 34 cents.
Qlik shares are up $1.28, or 3.8%, at $34.93, in late trading.
Chip equipment vendor KLA-Tencor (KLAC) this afternoon reported fiscal Q3 revenue and earnings per share that topped analysts’ expectations, but forecast revenue and profit this quarter lower, and said it would cut its workforce by 10%.
The shares rose but then gave up gains in late trading, declining 35 cents, or 0.6%, to $59.50.
Revenue in the three months ended in March fell 11%, year over year, to $738 million, yielding EPS of 84 cents.
Analysts had, on average, been modeling $727 million and 76 cents a share.
CEO Rick Wallace called the results “solid,” adding the company has a “unique opportunity” in the manufacture of 3-D chips and “multi-patterning” from “industry transitions currently underway.”
KLA said it will reduce its headcount by 10% to shift resources:
KLA-Tencor also announced a plan to reduce its global employee workforce by up to 10 percent to streamline its organization and business processes in response to changing customer requirements in its industry. The goal of this reduction is to enable continued innovation and direct KLA-Tencor’s resources toward its best opportunities. KLA-Tencor expects to substantially complete the employee reduction by the end of the first quarter of fiscal year 2016, but the timing of certain employee reductions may vary by country, based on local legal requirements.
During a conference call following the report, the company forecast revenue this quarter of $710 million to $790 million, and earnings per share in a range of 78 cents to $1.02. That is below the consensus for $784 million and 98 cents.
Networking equipment vendor Juniper Networks (JNPR) this afternoon reported Q1 revenue and earnings per share that topped analysts’ expectations. and a higher forecast as well.
Revenue in the three months ended in March fell 9%, year over year, to $1.07 billion, yielding EPS of $32 cents.
Analysts had, on average, been modeling $1.045 billion and 31 cents a share.
For the current quarter, the company sees revenue in a range of $1.09 billion to $1.12 billion, and EPS of 38 cents to 42 cents. That is better than consensus for $1.095 billion and 38 cents.
The stock is up $1.70, over 7%, at $25.75, in late trading.
Revenue in the three months ended in March rose 6%, year over year, to $21.7 billion, yielding EPS of 61 cents.
Analysts had, on average, been modeling $21.07 billion and 51 cents a share.
Revenue would have risen 9%, if not for the effect of the rising U.S. dollar, Microsoft said.
Microsoft said its “OEM Pro” revenue for Windows fell 19%, year over year, based on a decline in business purchases. Consumer Windows revenue was down 26%.
Search revenue grew 21%.
Surface tablet computer revenue of $713 million was up 44%, and would have been up 53% in constant currency.
Microsoft‘s commercial software business rose 5%, to $12.8 billion, and would have been up 7% if not for currency effects.
The commmercial cloud computing part of that commercial business more than doubled, including the company’s “Office 365” portion of its productivity suite, the Azure cloud computing service, and the “Dynamics CRM Online” hosted versions of Microsoft’s back-office software.
Microsoft stock is up $1.24, or 3%, at $44.58, in late trading.
CEO Satya Nadella remarked that the company “saw incredible growth across our cloud services this quarter,” and teased, “Next week at Build we’re excited to share more about how we’re empowering every individual and organization on the planet to achieve more with the next generation of our platforms,” referring to Microsoft’s developer conference.
COO Kevin Turner remarked, “We remain focused on strong execution from our sales teams. Around the world we’re seeing high interest in deployment of our cloud and server products, as well as participation in the enterprise early adopter program for Windows 10.”
Update: Following the report, I spoke briefly by phone with Microsoft’s IR chief, Todd McCommon.
McCommon noted that this was the roughest period for a year-over-year comparison of results for the Windows PRO business, which saw a 19% decline after a 19% rise in the year-earlier quarter. The June quarter will be not as tough a comparison, as it was up just 11% in that quarter last year.
Among the points McCommon highlit are things that show progress on “some strategic best that we’ve made,” he told me.
They include the commercial cloud revenue approaching $6.3 billion annually; a “significant” jump in “Xbox Live” usage; the company’s Bing search engine seeing its share of the search market rise above 20%; sales of Surface being up 53%, in constant-currency terms; and the company’s server software sales, for both on-premise and cloud versions, rising by 12%.
I noted that Amazon.com (AMZN) this evening disclosed more details about revenue and profit in its cloud computing operation, AWS. I asked McCommon if he would like to offer more detail. He noted that Microsoft has not disclosed profit information, but volunteered that because Microsoft does “an end-to-end, comprehensive offering,” with software-as-a-service, platform-as-a-service, and infrastructure-as-a-service, “our margin profile looks different, as you think about, because those all have different margin profiles.”
I asked McCommon whether that makes Microsoft more or less profitable than Amazon, but he declined to elaborate.
Microsoft stock has added to gains in late trading, currently up $1.31, or 3%, at $44.65.
Revenue in the three months ended in March rose 12%, year over year, to $17.26 billion, yielding EPS of $6.57.
Analysts had, on average, been modeling $17.5 billion and $6.61 per share.
The company’s volume of search activity, or “Paid Clicks,” rose 13%, year over year, and was down 1% from Q4′s level. Pricing for those ads, the “average cost per click,” was down 7% from the year-earlier period and down 5% from Q4′s level.
Google stock is up $10 or 2%, at $567.46.
CFO Patrick Pichette said the company’s revenue would have been up 17%, year over year, if not for the effect of the rising U.S. dollar.
Revenue in the three months ended in March rose to $22.72 billion, yielding a net loss of 12 cents a share.
Analysts had, on average, been modeling $22.37 billion and a loss of 14 cents.
CEO Jeff Bezos for the first time disclosed numbers for the company’s cloud computing operations, AWS:
Amazon Web Services is a $5 billion business and still growing fast — in fact it’s accelerating. Born a decade ago, AWS is a good example of how we approach ideas and risk-taking at Amazon. We strive to focus relentlessly on the customer, innovate rapidly, and drive operational excellence. We manage by two seemingly contradictory traits: impatience to deliver faster and a willingness to think long term. We are so grateful to our AWS customers and remain dedicated to inventing on their behalf.
Amazon sees revenue this quarter of $20.6 billion to $22.8 billion, below consensus for $22.1 billion.
The company sees operating income this quarter in a range of negative $500 millioni to negative $50 million.
Amazon reported net sales for the AWS unit rose to $1.57 billion in the quarter, up nearly 50% from the year-earlier quarter. The segment had an operating profit of $265 million, or 17%, which is likely much higher than Street expectations. (See the note from J.P. Morgan this afternoon.)
Amazon management will host a conference call with analysts at 5:30 pm, Eastern time, this evening, and you can catch a webcast of it on the company’s investor relations home page.
Update: After a brief decline, Amazon shares have bounced back sharply, now up $17.01, or 4.4%, at $407, in late trading.
Here are some things going on today in your world of tech:
A gaggle of reports
It’s another big earnings rodeo this afternoon, after the closing bell, from just about everyone and his brother: Amazon.com (AMZN), Altera (ALTR), Freescale Semiconductor (FSL), Gigamon (GIMO), Google (GOOGL), Juniper Networks (JNPR), KLA-Tencor (KLAC), Marketo (MKTO), Mattson (MTSN), Maxim Integrated Products (MXIM), Microsemi (MSCC), Microsoft (MSFT), NetGear (NTGR), NetSuite (N), Pandora Media (P), Qlik Technology (QLIK), ShoreTel (SHOR), Synaptics (SYNA), Unisys (UIS), Verisign (VRSN), Vocera (VCRA).
Among those, Amazon is one of the more interesting because this will be the first time ever that the company will disclose financials for its Amazon Web Services cloud computing operation.
Among those scrutinizing that prospect is Doug Anmuth of J.P. Morgan, who has a Neutral rating on the shares, tries to parse what AWS margin may mean, writing “We think the “sweet spot” would be AWS margins between -5% and -15%, which at the mid-point would suggest NA Retail margin of just over 4%, a respectable number with good headroom still for improvement.”
However, “Positive AWS margin, which we believe is unlikely, would imply disappointing Retail profits, and greater AWS losses (-25% / -30% margins) would leave less room for further Retail profit increases.”
Among those having already reported, Facebook (FB) stock is down 74 cents, or 0.9%, at $83.89, despite rising price targets rising following Q1 results. Bulls are looking past the impact of the rising U.S. dollar, but bears feel it’s become a crowded trade.
Shares of Qualcomm (QCOM) are also having a rough time of it, down 83 cents, or 1.2%, at $68.11, as the Street tries to figure out what to make of better-than-expected licensing business in its fiscal Q2 report, but a dramatic cut in the outlook for its chip sales.
And programmable chip maker Xilinx (XLNX) is down 36 cents, or 0.8%, at $44.01, after the company yesterday missed fiscal Q4 revenue expectations but beat on the bottom line, and forecast this quarter’s revenue well below consensus, with the company saying sales into the communications market and data centers, and also sales into China’s burgeoning cellular market, were weaker than expected.
As one Xilinx analyst, Anil Doradla with William Blair, wrote, the Street is left “searching for light at the end of the tunnel.
Among those actually doing well are eBay (EBAY), up $1.87, or 3.3%, at $58.62, which beat Q1 expectations but forecast the year lower on currency impact. Cowen & Co.’s John Blackledge, reiterating a Market Perform rating, raises his target to $60 from $57, writing that the company’s “new business leaders” are “off to a good start for 2015.”
Another one coming up shining today is AT&T (T), which beat Q1 profit expectations and announced it will see greater “synergies” from its pending merger with DirecTV (DTV). Free cash flow of $2.77 billion in the quarter was more than some on the Street expected and seems to be helping the stock today.
Lots of Apple cheer
Apple (AAPL) shares are up $1.27, or 1%, at $129.80, after three positive notes since last night. One was FBR & Co.’s Daniel Ives raising his expectations for Apple Watch shipments. This morning came a note from Stifel Nicolaus‘s Aaron Rakers, raising his estimate for iPhone sales in the March quarter to 59.6 million from 53.6 million, when Apple reports FYQ2 results on Monday.
And there’s also a note from Morgan Stanley‘s Katy Huberty, who reiterates an Overweight rating, and a $160 price target, who also sees a beat on iPhone.
Writes Huberty, “We believe Apple may add up to a week of channel inventory in the quarter since they ended December below the 5-7 week target range, equating to ~2M incremental units or a total of 57-58M reported shipments, compared to our 54M forecast.”
“We believe consensus sell-side and buy-side expectations have converged in the mid-to-high 50M range over the past month, suggesting an in-line to slightly better iPhone quarter.”
Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: firstname.lastname@example.org.


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Smartphone hackers haven’t taken time off during the COVID-19 pandemic. If anything, they’ve gotten smarter. Ransomware attacks were up 485% worldwide last year. Whether it be ransomware, malware, or phishing, smartphones have increasingly become a target for cybercriminals.
According to Bitdefender’s 2020 Consumer Threat Landscape Report, Americans received the lion’s share of unsolicited spam emails in 2020—a whopping 38 percent of global spam. According to the recently published report, scammers are targeting Americans with spam containing phony COVID-19 stimulus payments, leveraging the economic uncertainty caused by mass layoffs in the US. They are using fear and misinformation to get access via phishing texts, emails, and the like. Android devices in particular are vulnerable to malware and malicious apps, with fake Zoom meeting links, etc.
Surprisingly, a malicious text message is all that’s needed for a hacker to covertly install malware on a smartphone and take control of any app installed on that device. People would be very surprised by how easy it is for hackers to hack their phones, install malware on them and do all sorts of damage like steal data, track keylogging of bank passwords, eavesdrop on their conversations, etc.
Smartphones hold our most precious information and valuables; and as such, they constitute an entryway, or a safe key, to bank accounts, or even virtual valuables in the form of crypto coins. That’s why it’s crucial to protect them with the most advanced technology out there, much like we protect our homes and cars with sophisticated intrusion protection and alarm systems.
Smartphones require the highest level of protection from both hacking and tapping; something that continuously scans the device, detects, in real-time, whenever malware is installed on it, and prevents hackers from gaining control of smartphones and their installed apps.
Assac Networks’ ShieldiT and its management console ManageiT, are the most effective means of mitigating any kind of cyber threat which can compromise valuable information stored on a smartphone. Contact us for more information.

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This Week in Hyperlocal: April 19, 2013
by: TeamLYM, on Apr 19, 2013 in This Week In Hyperlocal
Here’s a roundup of ‘hyperlocal’ bits and bytes from around the web this week ….
~ Boston, our thoughts and prayers for comfort and safety are with you ~
Howard Owens on What it Takes to Sustain a Hyperlocal News Site — In honor of their two year anniversary, Street Fight Magazine revisits interviews with hyperlocal professionals, such as Yipit co-founder Jim Moran and founder, editor, and publisher of Batavian, Howard Owen, and analyzes changes in the hyperlocal landscape since their founding in 2011.
Hyperlocal startup Street Fight owns the block, hits profitability on 2nd anniversary — Upstart Business Journal catches up with Laura Rich, journalist and co-founder of Street Fight Mag and revisits the publication’s challenges, successes, and industry perspectives.
Destination Local research: UK demand for hyperlocal media — Nesta publishes updated research on hyperlocal media in the UK. Check out valuable information and strategies in hyperlocal from across the pond.
Diller: Death Will Come For ‘Irrelevant Media’ — IAC Chairman Barry Diller critiques lazy advertisers and urges a migration towards implementing effective hyperlocal strategies and cornering hyperlocal markets.
Mobile Ads GPS Study: How Far Will You Drive For A Deal? — Venture Beat provides coverage of a Telenav study pinpointing how far consumers are willing to go for a good deal and subsequently, when implementing hyperlocal advertising will yield the highest results.
Study Finds Newspaper Readers Are Engaged, But Local Papers Need To Do More On Mobile — A joint study by the Newspaper Associaton of America (NAA) and Nielson suggests that while newspapers are still the most engaging form a media, drops in sales emphasize the necessity, particularly for local publications, of a move towards mobile integration.
Local Yokel Media brings efficiency, scale and performance to hyperlocal digital display advertising. To learn more about how we help advertisers reach only those customers within their immediate service areas via trusted local websites and blogs, contact us today!


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'Go to your local record store please. Not HMV man.'
The flagship HMV store at 150 Oxford Street, the biggest music shop in the world, is closing down today.
HMV has confirmed that it will be removing all Lostprophets products on sale in store and online after former frontman Ian Watkins pleaded guilty to a string of child sex offences.
One of Britain's most recognisable high street brands has been saved after Hilco announced it has bought HMV - saving 2,500 jobs and maintaining 141 stores across the country.
Digital music services such as Spotify, Deezer and We7 streamed at least 3.7 billion songs last year, a figure equivalent to single sales for the past 60 years.


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“The Woz” Wows Orlando Show
Here’s another great example of the strange new times we live in: I’m walking with Apple co-founder and ASI keynoter Steve Wozniak soon after he blew away 1,000 people at our Orlando show, when we pass a table of five convention center employees – all buried in their phones. They never once looked up from their devices, missing a once-in-a-lifetime chance to meet face-to-face with the man who invented the industry that made those cell phones possible. Incredible!
I loved Wozniak, an engineer who single-handedly kick-started the personal computer industry in the 1970s by inventing the Apple I and II computers. He’s the only person I’ve ever met who speaks not in complete sentences or even complete paragraphs – but in book chapters. To actually sit on stage with the inventor of an entire industry and ask him questions was unbelievable.
And I’m happy to report he couldn’t have been nicer or more gracious, posing for photos with everyone who crossed his path (if they bothered to look up from their phones, that is). He even gave out his email and signed show badges, books – and dozens of iPhones and iPad, including mine (pictured, in the #ASIPromocar). He made a thousand new friends on Tuesday, the closing day of ASI Show®, which started Sunday at the Orange County Convention Center.
He was energetic, likeable and low key, riveting everyone with insider stories about founding Apple with Steve Jobs in 1976. “I never wanted any fanfare,” said this lifelong engineer, who’s always preferred inventing to marketing. “The builders are the important people in my mind.”
I especially enjoyed it when he said he loved promotional products, recalling a branded insulated travel mug one of his companies gave to employees that miraculously kept beverages hot for two days. As he told us: “It’s a great way to get the word out.”
After the Q&A, Wozniak also toured the show floor (pictured, center of top pic, with ASI vice-chairman Matthew Cohn, at left), surprising attendees and happily posing for photos and gathering so many samples we had to get a bag to carry them in. Kristen Beck, of Alligator Events in Sebastian, FL, made a point of thanking Wozniak, a former teacher, for his inspiring words about the importance of education. “He was awesome,” she said. “It surpassed my expectations.”
What a guy. What a show! For more, click here for an interview with Counselor magazine editor Andy Cohen.
Wozniak was just one of many highlights of ASI Orlando, which kicked off the 2015 selling season with 745 exhibitors and 6,084 attendees from 49 states and 22 countries, with distributor attendance up 8% over 2014. All told, a record 27 companies chose Orlando to host their sales meetings, an increase of 35% from the previous show.
The show more than delivered quality attendance and top-performing salespeople, exceeding all of our expectations. And, there were a ton of new features, making the experience wholly unique. In addition to the “Marketplace!” showcasing featured products from five of the most popular money-making industries, and the Social Lounge, with huge comfy recliners so people could settle in to watch a live feed of show photos tagged with #ASIOrlando, we hosted a “Minute to Win It” game show. People went crazy competing for prizes by playing outrageously fun games onstage.
Distributors and suppliers also came together at new Networking Clubs, where they ate together, downed martinis, did yoga and even wakeboarded.
To add to the fun, we also brought the #ASIPromocar to the show, putting it on display for people to take photos and sign the inside. No one could believe we’d driven a car covered in hundreds of promotional products over 2,000 miles so far – without losing more than a few pens. For proof of the resiliency of our industry, look no further than our “moving billboard.”
Monday night, ASI’s Counselor® magazine also announced the winners of its 2015 Distributor Choice Awards. I was very pleased to announce Ariel Premium Supply (asi/36730) as our Supplier of the Year. As I told the crowd, Ariel enjoys a 0.4% internal error rate – which means this $30 million company is near perfect when it comes to pricing, sourcing, personalizing, decorating, packing and shipping. No wonder they won the top prize. The enthusiastic group that accepted for Ariel is at right.
For complete coverage of the show, visit www.asicentral.com.
And don’t forget to register now for our upcoming 2015 ASI Shows: Dallas (February 3-5), Long Beach (March 24-26), New York (May 5-6) and Chicago (July 14-16).
Onward to Texas!


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Toyota Indus Motor Company has announced a massive price hike for Corolla and Hilux variants.
The automaker blames rising manufacturing costs and the weakening rupee in a notification it has issued.
Here are the new prices:
|Vehicle||Old Invoice||New Price||Difference|
|Toyota Corolla Altis 1.6 CVT||Rs4,789,000||Rs4,979,000||Rs190,000|
|Toyota Corolla Altis 1.6 CVT SE||Rs5,279,000||Rs5,479,000||Rs200,000|
|Toyota Hilux Revo G 2.8||R9,169,000||Rs9,839,000||Rs670,000|
|Toyota Hilux Revo G 2.8 AT||Rs9,609,000||Rs10,309,000||Rs700,000|
Since January 2022, Toyota has raised the pricing of all of its vehicles by 32 to 7 per cent. Aspiring Toyota buyers are put into a worse situation by this additional price increase.
These models are now more competitively priced with their top-tier competitors in their respective categories. Toyota may therefore be using decoy pricing to steer client spending into their more expensive items as one of its goals.
IMC may also want to prepare customers for potential price increases that are even higher relative to those for the more expensive versions of these particular models.
Regardless of what Toyota hopes to accomplish with this price rise, the cause is most likely the same: its operational loss of Rs3.3 billion in Q1FY23. From Rs5.42 billion in Q1FY22 to Rs1.29 billion in Q1FY23, Toyota’s sales revenue fell by 76 per cent. Toyota would have ended the quarter with a total loss if it weren’t for its Rs5.16 billion in other income.


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The fans of Duck Dynasty may not know the difference between free speech and hate speech, but Amazon does. The book retailer has pulled Maybe He’s Not Gay, by Linda Harvey, founder of Mission: America, which was designated an anti-gay hate group by the Southern Poverty Law Center in March 2012.
Maybe He’s Not Gay focuses “on the bright future they can all have, regardless of the turmoil of adolescents, which for some may include same sex attractions or gender confusion."
The Amazon description reads:
"’I’m gay.’ As more and more young people announce this is their identity, it’s time to take a closer look. It’s a profound declaration, a new civil right (they are told) and it’s ‘who you are.’ But there’s a problem. Are we sure this is the truth? Does this identity bring the promised liberation and the key to a whole new life? Does it lift the burden of secrecy — or begin a different kind of struggle?"
According to Back2Stonewall writer Will Kohler, Amazon has pulled the gay propaganda book from its catalogue:
"After a few email’s this afternoon from this website and Amazon.com over who and what Linda Harvey is, Amazon.com has decided to pull the Mission: America’s hate group leader’s latest anti-lgbt propaganda book Maybe He’s Not Gay. A special thanks to those who follow Back2Stonewall.com and reached out with us to Amazon.com to pull Linda Harvey’s irresponsible and potentially dangerous book. Alone and together we can make a difference. We just have to try."


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Designed and developed exclusively for the Chinese markets by Dongfeng Yueda Kia, the Kia KX3 Electric SUV gets detailed ahead of official launch. It is positioned on the Hyundai Creta platform and follows a simple design. Yes, the Hyundai Creta which is one of the best selling premium SUVs in India, is the basis of the new electric SUV you see here.
The electric subcompact SUV spots a distinctive front grille, projector headlamps with blue accents and an electric charging port integrated into its left side of the grille.
Kia KX3 sits on 17” alloy wheels, gets A Pillars in blue running to the upper portion of C Pillars and comes in fitted with 215/60 R17 tyres. Kia KX3 measures 4,290mm in length, 1,780 mm in width and 1,635mm in height. Its electric version is 20mm longer and 5mm taller than the conventional fuel model while kerb weight is at 1650 kgs.
The rear end of the electric variant sports the same design as that seen on the regular model while interiors also remain unchanged with 7” touchscreen infotainment system, climate controls and leather upholstery.
Kia KX3 Electric SUV gets its power via a Hyundai Mobis sourced 81.4 kW – 111 PS electric motor mated to a 128 Ah Lithium-ion battery pack. This combination allows an electric range of 380 kms and a top speed of 150 kmph. The electric KX3 will come in with both rapid charging and conventional charging options.
This new electric variant of the Kia KX3 SUV which will receive a host of safety features such as airbags, ABS, ESP, pedestrian protection system will debut in China by the end of this year. Pricing and more details will be revealed closer to launch date.
Speaking about India launch, Hyundai has confirmed that they are getting ready to launch electric cars in India. The first electric car which Hyundai plans to launch in India is the Kona electric. It will be launched in 2019. Depending on the success of Kona Electric, Hyundai will decide if they would want to launch more electric cars in India or not. But seeing the success of Creta today, a future Creta Electric SUV cannot be ruled out.


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McLaren 720S Totaled Less Than One Day After Delivery
A Virginia man totaled his brand new McLaren 720S near Katie's Cars and Coffee.
There is something we see all too often in the world of supercars. Over-zealous men with hefty pocketbooks and fair taste in cars purchasing grossly expensive and powerful motorcars...only to wreck them shortly thereafter.
This story out of Great Falls, Virginia seems to be no different.
According to the Fairfax County (Virginia) Police Department, this brand new McLaren 720S has been absolutely obliterated a mere 24 hours after leaving the dealership at which it was purchased. It was an expensive wreck to say the least, as the new 720S has a starting MSRP of $284,745, most being delivered closer to the $300,000 mark.
The police have yet to declare just exactly what caused the crash, however, they did state in their official Twitter post that it was in fact “...because of speed.” With the McLaren sporting a whopping 710 horsepower, there's no doubt that this could be true.
According to Instagram user “@gun_surgeon,” the driver was airlifted to the local hospital without life-threatening injuries, although it seems as the driver did shatter his arm and does not recall exactly what happened.
- RELATEDLong Tailed McLaren P1 GT by Lanzante Debuts at Goodwood Festival of SpeedThe creators of the street-legal P1 LM have built an F1 Long Tail-inspired car as well.READ NOW
- RELATEDWatch the McLaren 600LT Shred Its Tires During Public Debut at Goodwood Festival of SpeedMcLaren's new long-tail supercar makes its world debut in a cloud of tire smoke.READ NOW
- RELATEDMan in Handcuffs Steals Police Car, CrashesA simple parole violation turned into a car chase straight out of a Grand Theft Auto game.READ NOW
- RELATEDStranded Driver Drinks From Radiator for Week After CrashAn Oregon driver plunged down a 200-foot cliff, and during the week until her rescue, she had only one source of water: The Jeep's radiator.READ NOW
- RELATEDMcLaren Announces $1.6B Business Plan to Go Completely Hybrid by 2025Under the new Track25 plan, McLaren will launch 18 new cars including a P1 successor.READ NOW


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In its ongoing effort to crack down on the nation's prescription-drug epidemic, the U.S. Drug Enforcement Administration has gone after doctors, pharmacists, pharmacy chains, wholesale drug suppliers — and now FedEx and UPS.
Even though the DEA will not confirm it is engaged in the probe, both companies have disclosed in corporate filings that they are targets of a federal investigation related to packages shipped from online pharmacies.
Based on the allegations, it appears federal officials are suggesting the shipping companies take responsibility for the prescription drugs inside packages they are transporting.
FedEx officials have called the California-based probe "absurd and deeply disturbing" and a threat to customers' privacy.
"We are a transportation company — we are not law enforcement, we are not doctors and we are not pharmacists," FedEx spokesman Patrick Fitzgerald said in a prepared statement.
Though the probe has been unfolding quietly for several years, the investigation is now gaining headlines and attention from politicians, including Winter Park U.S. Rep. John Mica.
In a letter sent to DEA Administrator Michele Leonhart and Attorney General Eric Holder earlier this month, Mica asked the leaders to recognize "the difficulty and unfairness of requiring those carriers to assume responsibility for the legality and validity of the contents of the millions of sealed packages that they pick up and deliver ever day."
Mica — who reports FedEx as one of his top campaign contributors — told the Orlando Sentinel that, although he is "concerned by prescription drugs" and their distribution, it would be inefficient and ineffective for federal authorities to turn UPS and FedEx into deputy enforcers of drug policy.
"You can't stop commerce; you can't open every package," Mica said. "I'm only asking them [the DEA and DOJ] for a reasonable approach."
Mica did not offer a specific solution but said he hoped the two sides come to "some sort of accommodation."
When contacted by the Orlando Sentinel for comment, a DEA spokesman, Special Agent Mike Rothermund, said he would not "confirm or deny if there's an investigation."
The U.S. Attorney's Office in San Francisco did not return calls for comment.
Federal law prohibits purchase of controlled substances — which include drugs such as Vicodin, Xanax and Adderall — without a valid prescription from a doctor. There must be a real doctor-patient relationship, so prescriptions written by "cyber doctors" who rely on online questionnaires are not legitimate under the law.
FedEx officials say they have had a long history of cooperating with federal law-enforcement agencies.
"We have no interest in violating the privacy of our customers by opening and inspecting their packages in an attempt to determine the legality of the contents. We stand ready and willing to support and assist law enforcement," Fitzgerald stated. "We cannot, however, do their jobs for them."
The company said it asked the DEA for a list of online pharmacies suspected of illegal activity so it could stop shipping from those businesses. But the DEA has refused to provide FedEx such a list, Fitzgerald's statement said.
A UPS spokesman said he could not comment on the investigation.
But in a February corporate filing, UPS said it is cooperating with the investigation and is "exploring the possibility of resolving this matter, which could include our undertaking further enhancements to our compliance program and a payment."
FedEx officials say that, rather than working with the industry to implement solutions, the Department of Justice is focusing its attention and money on the potential prosecution of delivery companies.
"This is unwarranted by law and a dangerous distraction at a time when the purported illegal activity by these pharmacies continues," Fitzgerald wrote in a statement.


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Alex Joins IOD Committee Board
Supply Chain Academy Commercial Director – Alex Mortimer – was recently elected to serve on the Institute of Directors (IOD) committee board, representing the Essex and Herts region.
With a membership of over 30,000 leaders, the IoD is British business’s leading voice and campaigner on a vast range of issues from Brexit to education. The (IoD) was founded in 1903 and was awarded a Royal Charter to support, represent and set standards for business leaders nationwide.
In addition to representing the region, Alex has also taken up the role in the region of Ambassador for Supply Chain and Global Trade. IoD Ambassadors are specialists in their fields and are charged with representing and leading in their profession, whilst also promoting the benefits of IoD membership.
The Supply Chain Academy is the only worldwide resource centre that focuses solely on the supply chain and deliver outstanding global supply chain capabilities to business.
For further details on the appointment, or to find out how the Supply Chain Academy, can add leverage to your supply chain, please email firstname.lastname@example.org or call 01708 259450.
Supply Chain Masterclasses!
Developed with industry experts for supply chain executives. All hosted at our luxurious facilities in the Edwardian mansion, Upminster Court.
Supply Chain Courses!
Outstanding business led courses for managers and aspiring managers from CP, the global go-to supply chain specialists.
Need Bespoke Solutions?
We offer an exclusive range of bespoke and tailor made solutions for executives and their teams.
We are pleased to announce that the Supply Chain Academy’s Commercial Director, Alex Mortimer, has made it into the top 50 global supply chain thought leaders and influencers, as announced by Thinkers360 last week. Alex has been inducted into this prestigious list of...
Join our webinar on 19th May to find out more about the Supply Chain degree apprenticeship.
Supply Chain Academy Commercial Director, Alex Mortimer was recently invited to join and serve on the Global Chamber Advisory board, representing London and UK. The mission of the Global Chamber® is to accelerate cross-border trade and investment in every region of...


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A new Xiaomi smartphone has just received 3C (CCC) certification in China and there are indicators pointing at the possibility of this being the expected Mi 6. The 3C certification is a mandatory product certification system in China with the aim of protecting consumer’s security through the supervision of products concerning health, hygiene, security, environment and anti-fraud.
The Xiaomi smartphone received the 3C certificate on March 29, according to the listing and is shown to have been manufactured for Xiaomi Communications Co. Ltd by FIH Precision Electronics (Langfang) Co. LTD which, simply put, is Foxconn. The suspected Mi 6 comes with the model number MCE16 and is shown to support LTE connectivity.
In addition, the device is shown to have support for three charging output ratings including 5V, 3A/9V, 2A/12V, 1.5A, with a minimum power rating of 15W and maximum of 18W, which is the fast charge standard. The device is suspected of being the Mi 6 because of the fast charger which it is listed to feature but that doesn’t give the speculation any certainty. It could turn out to be another device, even though we don’t know of any other smartphone Xiaomi is getting out into the market anytime soon.
The Xiaomi Mi 6 is expected out in the open this April and the rumored features it is expected with keep piling up, positioning the device as a true flagship. The Mi 6 is said to use the latest Snapdrag0n 835 chip and very recently it was revealed that the device may likely be without the legendary 3.5mm headphone jack and would be waterproof. Other rumoured features include an iris recognition technology, wireless charging, colourful body and fast charge support.


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A Chinese manufacturer of webcams that were infected with malware as part of a massive cyber attack last Friday participated in a US trade show in January together with Ciklum, the Ukrainian sofotware company in which George Soros bought a stake in in 2015.
Unidentified hackers, which could have been based in Ciklum, seized control of gadgets including Xiongmai’s on Friday and directed them to launch an attack that crippled websites like Amazon, Twitter and Netflix, according to U.S. web security researchers.
Hangzhou Xiongmai said millions of web-connected cameras and digital recorders because of vulnerability they have known about since April 2015.
A Chinese language site lists Ciklum as an exhibitor in a computer trade show, the CES, in the USA in 2016 along with Hangzhou Xiongmai Trading creating a tenuous temporal and geographical link.
Tenous as the link is, it is a real link given the very large numbers of computer trade shows in the USA in 2016. althought it the participation of Ciklum and Xiongmai in the same US trade fair in January may also be a coincidence.
The International Consumer Electronics Show (CES) is a major technology-related Trade Show held each January in the Las Vegas Convention Center, Las Vegas, Nevada. It is not open to the public, The Consumer Electronics Association-sponsored show typically hosts previews of products and new product announcements.
The CES has 3,600 exhibitors and 109,000 attendeeds, according to TSNN.


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More about America Online’s conference with over five hundred investors, analysts and reporters Tuesday in Manhattan.
In addition to presenting the financial outlook [WAMN: 04-Dec-02], AOL’s new chairman-ceo Jonathan Miller told an expectant but increasingly skeptical audience of the online giant’s plan to return to revenue growth.
AOLs current advertising model doesn't work, Miller confessed. However, he assured listeners that the company is “getting back to basics” with traditional advertisers and trying to repair relationships with marketers and agencies. He failed to spell out what this tried and tested vaguery actually means; while details as to how it would be achieved were in short supply. In addition, AOL will start to charge for search functions, while Yellow Pages, classifieds, local guides and other paid listing services will be introduced to boost ad revenue.
Miller is pinning his hopes for fiscal salvation on broadband. But rather than depend its own high-speed access capabilities, AOL will next year promote coast-to-coast a Bring Your Own Access concept, inviting AOL subscribers to harness other suppliers’ high-speed services (for example, Earthlink) to connect with AOL broadband programming. AOL will charge $14.95 a month for the BYOA service.
AOL’s eggs will not all be in the broadband basket, however. Narrowband dial-up access will continue to be a buttress of its services and revenues. “We don't pretend to have all the answers. But I am confident that narrowband is not going away,” Miller assured. The $23.90-monthly service will continue to account for the bulk of AOL profit margins
AOL is to cooperate with its AOL Time Warner siblings to develop original programming for the premium paid-content service. Miller compared this to a cable TV model: tiered packages of exclusive paid content in areas including gaming, youth, personal financial, music and shopping.
The audience was largely unimpressed with the detail – or lack of it. Opined Merrill Lynch analyst Jessica Reif Cohen: “It’s clear that the US online business is increasingly moving to broadband but long-term growth rate is the big unanswered question.” This, she noted, was something Miller failed to address.
Data sourced from: AdAge.com; additional content by WARC staff


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COLUMBUS, Ind. — With lackluster truck sales still hampering North America, Cummins has announced it has received an order for 101 Cummins ISX engines.
US-based Wegmans Food Markets placed the order, and will receive the ISX-powered trucks this fall, Cummins announced.
“Cummins is delighted to have been selected as the engine of choice by Wegmans,” said Jeff Jones, Cummins vice-president of sales and market communications. “We are confident that our ISX engines will provide Wegmans with the industry-leading fuel economy our customers have come to expect, while contributing to a cleaner environment.”
For its part, Wegmans said it plans to replace the remainder of the older trucks in its fleets in 2010.
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News


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Subway has announced the appointment of a new member in its leadership team.
Lorri Christou will oversee all of Subway’s future communications as part of her new job. She’ll take up a position officially titled Vice President of Public Relations, Communications and Public Affairs.
The sandwich franchise made the decision to hire Lorri in order to enhance its communications efforts. She won’t be replacing anyone currently working at Subway; the role is a new one, created by the company to expand its storytelling capabilities, according to one of its representatives.
Lorri, who is based in the Washington DC-Baltimore area, has a quarter of a century of business expertise and at least five years of experience working in communications-focussed roles.
Before joining Subway, she was Vice President of External Communications and Public Relations at Choice Hotels International for three years. And from 2014 to 2016, Lorri worked as Senior Vice President of Strategic Marketing and Communications for the Cruise Lines International Association (CLIA).
Lorri has also held roles at public relations and marketing firms Edelman and FleishmanHillard.
Subway’s introduction of Lorri as its new communications leader is just one of the changes the company has made this year. It’s also announced alterations to its partnerships with public relations agencies. Back in October, it transferred its PR efforts over to Current Global, from Ruder Finn. And since October, Taylor Herring has handled its UK consumer projects, and MSL has managed its EMEA activity.
If you’d like to invest in Subway’s internationally recognised brand and add to the franchise’s 43,000 franchise units across the world, visit its profile page, linked above. You’ll be able to read about its investment requirements, its candidate criteria and the franchising process. You can also request more information and get in touch with the franchisor team.
Alice Tuffery, Point Franchise ©


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Argos said it was still considering acquisitions but had not yet decided whether a share buy-back would be the preferred course. It will make its decision by the end of the year.
The company has been linked with the British jewellery interests of Signet, the troubled former Ratners group that includes the Ernest Jones and H Samuel chains. The company declined to comment on any approach to Signet.
Pre-tax profits for the six months to June increased from pounds 15.3m to pounds 21.8m on sales up 15 per cent to pounds 475m. The dividend was increased by 43 per cent to 4.8p.
Argos introduced a wedding list service in March and already has 2,000 lists logged on with an average value of pounds 850 each. Argos says purchases can be made anywhere in the country and are deleted from the list, which is held on a central computer.
New multimedia-style terminals that enable customers to complete transactions without the help of a sales assistant have been less successful.
A trial in 21 shops will not be extended until there is more evidence that customers are willing to use them.
In October Argos will pilot a new style of shop that will not be based on a catalogue format. The number of superstores is also being increased. A further seven traditional sites will be converted to the superstore format. There are currently 43 with room in the market for 100, the company says.
Argos is also expanding its smaller shops and will pilot a mini-store format. Argos Direct, the home delivery operation, boosted sales 50 per cent to nearly pounds 29m.
Like-for-like sales improved by 7.2 per cent. Since the end of June sales have increased by 10-11 per cent though half of this was due to better catalogue availability. Last year the company ran out of catalogues and will this year increase its print run to 34 million, at a cost of around pounds 1 each to print and distribute. Rising paper costs will have an effect on the bottom line next year.
The company said sales in most sectors were strong except for DIY and office equipment. The best seller is a pounds 149 video recorder that is featured on the back page of the current catalogue.
Argos's shop on the Barclay Square "virtual shopping mall" on the Internet has performed poorly since its launch a few months ago. Mike Smith, the chief executive, said Argos had sold "hardly anything" on the Internet so far. "I think this kind of electronic shopping might be six or seven years away from widespread customer acceptance," he said. The shares fell 5p to 483p.


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MOUNTAIN LAKES, N.J.--(EON: Enhanced Online News)--Flash Global Logistics (Flash), a global aftermarket 3PL service provider for mission-critical service parts and products logistics, is proud to release the results of their delivery performance in Japan during the first three quarters of 2013. Performance metrics captured from January through September indicate a nearly 100% record of on-time deliveries and inventory accuracy.
“We are the only 3PL in the world that can service all of Japan in less than 90 minutes, thereby surpassing DHL and TNT”
“Over the past several years Flash has invested heavily in the Japan market, from our robust command center in Tokyo to our ever growing network of FSLs, which today stands at 131, to our Distribution Center in Yokohama. Our infrastructure upgrades are led by our in-country, multilingual staff that serve our customers 24 hours a day, seven days a week,” says Jim van Leenen, chief executive officer of Flash. “We are the only 3PL in the world that can service all of Japan in less than 90 minutes, thereby surpassing DHL and TNT,” adds van Leenen.
Since 2001, with its portfolio of Fortune 500 companies, many of them requiring mission critical service parts logistics within Japan, Flash has also dedicated itself to developing and cultivating the absolute best Japanese partner network. The network, automation, focus on process rigor and hiring of the best talent have resulted in repeated success delivering anywhere within the country’s 145,882 square miles in under 90 minutes.
About Flash Global Logistics
Headquartered in New Jersey (USA), Flash Global Logistics (Flash) specializes in critical parts supply chain solutions with its full suite of global aftermarket and reverse services and leading emerging markets offerings. For 30 years Flash has helped companies who prefer to work with a global, single-source, third party logistics provider to effectively manage their critical inventories and time critical deliveries, in order to meet their service level agreements. Flash solutions include: transportation services, IOR/EOR capabilities in 80 countries; flexible distribution center programs and reverse logistics offerings and FlashView®, a unique tool allowing customers complete visibility irrespective of the carrier(s) utilized. And its leading edge critical parts management system tool— FlashTrac, supports its global services and innovative solutions.
From its in-region and in-country personnel to the far reaching presence of its five regional command centers, 700+ forward stocking locations and 21 multi-client DCs located across six continents, it’s no wonder why our roster of Fortune 1000 customers and industry leaders rely on us to get the job done. For more information, visit: www.flashlogistics.com.
For customers interested in learning more about Flash Solutions: email@example.com +1-866-611-7874


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And we would if we could. Continue Reading...
Lancia NewsAll News
Lancia has deep roots in rally racing, and has been owned by Fiat since 1969. Now a days Lancia builds mostly rebadged Fiat cars and sells them primarily in Italy.
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It’s really happening this time! Continue Reading...
Audi vs. Lancia. Continue Reading...
One of the most successful rally cars of all time in totally original condition. Continue Reading...
The 1980s were a wondrous time. Continue Reading...
Earlier reports of Lancia getting axed have been debunked by Chrysler spokesman Scott Brown, stating that those rumors are indeed false and that Lancia will continue on in Europe. Continue Reading...
Fiat–Chrysler CEO Sergio Marchionne made a series of significant announcements in a teleconference earlier today, not the least of which is the termination of the Lancia brand. Continue Reading...
The Lancia Stratos isn’t just one of the world’s rarest cars, but one with an iconic cult following like no other. In total, 492 Stratos are believed to have been built, with the majority of them being competition or Rally race cars. The Stradale variant of the Stratos was built for the street, a requirement… Continue Reading...
While past reports have suggested that the Dodge Avenger is dead, speculation has apparently been a bit premature. Chrysler/Fiat have plans for a number of new cars in the future including the introduction of new midsize sedans which will update the Chrysler 200 and Dodge Avenger for 2013. The new Avenger and 200 will be… Continue Reading...
Chrysler is getting some Italian style thanks to former Ferrari designer Lorenzo Ramaciotti, 63, who will now be lending a hand at Chrysler and Lancia. Ramciotti was lured out of retirement to head up the project, which aims for a common design language for the two brands. “We are trying to find an international language, which… Continue Reading...
With Italy as one of its main markets, it’s no surprise that the Fiat Group would bring a huge collection of new and special edition models to the Bologna Motor Show. This year, the Fiat Group will headline the local auto show with a new 2012 Fiat Sedici model, a Fiat 500 Nation Limited Edition,… Continue Reading...
There was a time, not so long ago, when Chrysler sold a big wagon on our shores, and called it the Dodge Magnum. However, due to a fall in demand, this model was axed in the North American line-up. But in Europe, the wagon lived on, albeit with a different nose and badge. It was… Continue Reading...
Chrysler has launched their first two re-badged Lancia product in the UK (where the Lancia brand has been defunct for a number of years), with a pair of hatchbacks based on the Lancia Delta and Ypsilon compact and subcompact cars. The Ypsilon shares a platform with the Fiat 500 and will be available with the… Continue Reading...
It’s that time of the year again as Car of the Year begins the laborious task of whittling down new Car of the Year contenders for 2012. A total of 59 journalists, representing automotive authorities across 23 European countries, have been recruited for the task of choosing top car. The number of journalists to represent… Continue Reading...
Fans of Italian cars should prepare to dry heave, as Lancia has just released an image of their new Flavia Cabrio, looking like a poorly rebadged Chrysler 200. The only engine available is a 175-horsepower 2.4-liter V6 mated to a 6-speed automatic. Thrilling. Lancia will also get a re-badged Chrysler Town & Country, known as the… Continue Reading...
We should be thankful that millionaire Michael Stroschek hasn’t sealed away his priceless Lancia Stratos recreation; instead, he races it regularly, as seen here in this video. In a rousing example of bringing public art to the masses, Stroschek races his Stratos at 2011’s Sachsen Rallye with co-driver Dieter Hawranke, in front of a camera-toting crowd on… Continue Reading...
On August 19th at Laguna Seca Golf Ranch, Monterey California, Concorso Italiano will open the traditional Monterey/Pebble Beach Weekend. The event will feature more than 800-1000 beautifully designed Italian cars on display. Enthusiasts can engage in conversations with fellow car lovers and enjoy Italian fashion, food and art. There will no doubt be an astonishing variety of Ferrari’s,… Continue Reading...
The original Lancia Stratos was a very successful rally car, but the car’s continued popularity undoubtedly stems from its stunning body and its Ferrari engine. Fast forward nearly 40 years since the first Stratos was produced, and a new Stratos has come among us. This one too has a Ferrari engine and even the underpinnings… Continue Reading...
As a part of Fiat’s control of Chrysler, the company will breath new life into its Lancia division by re-launching it using rebadged versions of Chrysler products – including the new 2011 300. Powering many of the vehicles will be Chrysler’s new 3.6-liter Pentastar V6 engine, as well as several diesel choices. Lancia has not… Continue Reading...
Lancia’s version of the Chrysler 200, likely dubbed the Flavia, will debut at the Geneva Auto Show in March. While the idea of a Lancia-badged Chrysler is unpalatable to many enthusiasts, the fact that Chrysler has decided use the much vilified 200 will surely make it the automotive equivalent of the Antichrist. Fiat CEO Sergio… Continue Reading...
Fiat will look to reinvent its struggling Lancia brand at the Geneva Auto Show, breathing some life into the marque by unveiling its new flagship luxury sedan. Rather than an all-new vehicle or some small European-style model, the new Lancia luxo-barge (rumored to be called Thema) will be a direct result of Fiat’s takeover of… Continue Reading...
We at Autoguide have a theory that the best race car liveries are all for products that aren’t so great; cigarettes, vermouth, oil companies and cramped airlines with good food – such as the New Stratos, decked out in Alitalia livery. The original Stratos, known for its rally prowess, proudly wore the Alitalia livery during… Continue Reading...
Fiat’s got a new boss, but fans of black sweaters shouldn’t fret; Sergio Marchionne, the man who lives by the phrase “business casual”, will still retain control of the Fiat/Chrysler monolith. Lest we forget that Fiat itself is also a car brand, and somebody needs to oversee the Fiat car lineup. For that job, Andrea… Continue Reading...
The Wall Street Journal is reporting that the 2012 Dodge Viper will be produced, and will move towards a more “upscale” position, abandoning its “racecar” heritage. The vehicle was previewed at Chrysler‘s dealer meeting in Orlando. Autoblog reported that the design is angular, and a departure from the previous car. No mechanical details were announced… Continue Reading...


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DeRodes hired by information commerce firm
Bob DeRodes, the former executive vp and chief information officer at Home Depot, has joined First Data as its executive vp and chief technology officer. In this role, DeRodes is responsible for product development, systems, infrastructure, and processes.
DeRodes worked at Home Depot from 2002 until last September. He led a $1 billion IT system overhaul for the Atlanta retailer, including the implementation of an electronic system for special orders.
DeRodes also served as CEO for Delta Technology and chief information officer for Delta Air Lines. In these roles, he was responsible for all aspects of technology and communications for the airline’s operations.
Headquartered in Greenwood Village, Colo., First Data has operations in 37 countries. Its portfolio of services and solutions includes merchant transaction processing in credit, debit, private-label, gift, payroll and other prepaid card offerings, as well as fraud protection, electronic check acceptance and Internet commerce.
Menards put on hold in Ohio
Plans to build a new Menards store in Columbus, Ohio, have been delayed until economic conditions improve, according to an article in the Columbus Dispatch. The newspaper reported that the Eau Claire, Wis., chain of home improvement stores, which operates 11 stores in Ohio, will build the anchor store in Westland Mall, a mostly vacant shopping center that will be torn down and redeveloped.
The delay will affect a proposed 180,000-square-foot Menards store in another Columbus mall called Northland Village, according to the report. Menards plans to build several stores in the Columbus area at the same time so it can coordinate a marketing campaign around them, the newspaper said.
Chain store sales spiral down in November
U.S. chain store sales fell by a record 2.7 percent for November on a year-over-year same-store basis, according to the International Council of Shopping Centers (ICSC).
“The November retail sales environment was an extremely difficult one with the backdrop of the recession and financial crisis still looming large in the economy,” said Michael P. Niemira, ICSC chief economist and director of research.
Niemira added that the poor start to the holiday season’s sales — even adjusting for special factors — has led ICSC Research to trim its November-December holiday sales forecast to between flat and down 1 percent.
“The main special factor in November was a tough comparison from last year with a calendar-shift drag on year-over-year sales, worth between 1.5 and 2.0 percentage points,” he said. “Looking ahead to December, ICSC forecasts that industry sales will grow by 1.5 percent.”
Target, for example, reported a same-store sales decline of 10.4 percent for November, which company executives attributed to cautious shopping early in November and fewer after-Thanksgiving shopping days for the month. Total sales for the four weeks ended Nov. 29 fell 6 percent to $5.61 billion.
Wal-Mart, on the other hand, said that November same-store sales rose 3.4 percent, exceeding its projections. The retailer attributed the jump to discounts on groceries, consumer electronics and Christmas decorations, as well as a drop in gas prices.
ICSC Chain Store Sales Trends is a monthly report based on publicly available sales for 37 chain stores. Industry sales aggregates are compiled for “comparable-store” or “same-store” sales and for total store sales.


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The auto industry in the UAE indicates a positive sign of bouncing back into business, and this is evident following an announcement by Al-Futtaim Motors Company (AMC) that it is back to normal production of its Toyota brands including robust sales.At the same time, Al-Futtaim Motors, the exclusive distributors of Toyota and Lexus in the UAE also unveiled its plans for an ambitious Ramadan promotion running from August 1 to 30.Al-Futtaim Motors, announced the launch of two exciting propositions as part of the company’s continual commitment to loyal Toyota customers to provide a rewarding and long-term joy.Al-Futtaim Motors announced a new automotive millionaire promotion campaign for the Ramadhan season. This is the first-of-its-kind promotion in the UAE automotive sector being offered exclusively by Al-Futtaim Motors.Customers who purchase a new Toyota vehicle only in the month of August will stand an extremely good chance to win Dhs1 million cash prize.To be eligible for this unique promotion, individuals making a purchase of any new Toyota SUV or passenger car are automatically entered into a prize draw. The lucky winner will be announced immediately after Eid.In addition, and in keeping with the spirit of Ramadan, Al-Futtaim Motors Toyota will offer ‘Apple’ product to every Toyota vehicle buyer during this promotion.Production at Toyota’s Japanese plants is now almost 100 per cent back to normal, said the Managing Director, Al-Futtaim Motors Simon Frith.Production at the Japanese plants were severely affected by the March 11 earthquake and tsunami that rocked part of the Nation leaving almost 23,000 people dead or missing across Japan’s northeast coast.Although Toyota’s main factory in Tokyo was not directly affected, the supply of spare parts was. This saw production decline by over 50 per cent in the months following the disaster.Al Futtaim however admitted that it had also been affected by the disaster, having lost some UAE market share, that dropped from 40 per cent at the beginning of the year to 38.5 per cent for the first six months. In the small car segment, the worst hit model in the Toyota brand was the popular Yaris, which had been hit by low supply.Speaking to The Gulf Today, at the sideline of the announcement on Sunday, Frith also spelt out a new vehicle finance solution for Toyota vehicles based on a purchase model. It is designed to offer a range of individually tailored finance packages, making owning a new Toyota car easier than ever before.He said Toyota offers real tangible benefits to customers such as lower monthly commitments starting with Dhs. 999, shorter loan agreement, guaranteed future trade-in value etc.According to Frith, the new finance solution from Al-Futtaim offers customers with a 24 low monthly payments, according to the Central Bank guidelines, which is actually an alternative to traditional forms of funding.At the same time Frith disclosed that the company is putting new investments into the market, but did not divulge on the exact scale of investment.The company also recently opened a pre-delivery inspection centre in Jebel Ali, which has the capacity to put about 100,000 units in. He said that AFM, which is part of the Al-Futtaim Group also plans to extend its investments in Abu Dhabi and expects to have three showrooms in 2012/13.Speaking at the same event, Andrew Squires, the sales manager at Al Futtaim Motors, said the Japan recovery has been pretty fast than expected, adding that it was almost back to 100 per cent in July and is expected to hit 100 per cent mark in November. Nabil Naga, General Manager Fleet of Al-Futtaim Motors were also present for the media briefing.Frith expressed satisfaction with the performance of its sales target in the first half of this year, adding that with the production of all its models getting back to normal, the company anticipates to achieve its 40 per cent market share and expects to sell 7,000 units of its vehicle during the Ramadhan period.Frith said the company was shooting for 100,000 units in the UAE. He said it will continue to invest in its facilities, into its customers and the people to build a long-term relationship and a service level with its clients.
From / Gulf Today


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While it was a win for Max Verstappen and Red Bull, the Miami GP was also a big win for Formula 1 and its various teams and sponsors, several of which are large, multinational publicly traded companies which are keen to be associated with the growing U.S. F1 audience.
An agreement for Volkswagen's premium brand Audi to join Formula One by investing in British luxury sports carmaker McLaren is becoming increasingly unlikely, a person familiar with the project told Reuters on Thursday. Meanwhile, talks with Swiss-based Sauber, which runs the Ferrari-powered Alfa Romeo team, and Williams are continuing, the person said. Both Audi and Volkswagen declined to comment.
As an owner of vintage Ferraris, who at one stage ran his own dealership, Lawrence Stroll is well acquainted with the allure of the luxury car maker.


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Get your bras and lotion while you can.
Victoria's Secret has announced it will be permanently closing a quarter of its stores across the United States and Canada in the coming months.
L Brands, which owns the clothing chain, also revealed they will also be shutting down retail outlets of its sister brand, Bath & Body Works.
According to USA Today, roughly 250 Victoria's Secret stores and 50 Bath & Body Works outlets will be closing up shop. The locations of those stores have not been released.
There are currently approximately 1,100 Victoria's Secret stores and 1,700 Bath & Body Works shops across North America.
L Brands said sales had declined 37% for the quarter. The brick and mortar stores have been closed since March 17th due to the coronavirus pandemic.
The downsizing comes on the heels of the news that Pier 1 Imports would begin liquidating their remaining 540 retail stores across the country.
Other major retailers such as J.C. Penney, Neiman Marcus and J.Crew have also had to file for Chapter 11 bankruptcy protection due to the downturn in the economy in the aftermath of the spread of COVID-19.
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• New role will help bring oOh! and Adshel together under a unified strategy
• Revenue of $192.0m, up 11% from the half year ended 30 June 2017 (1H17)
oOh!media has acquired 85% of Junkee Media for $11.05m
Inside the 2 May issue of Mediaweek magazine #1253 Television With a bona fide hit under his belt in My Kitchen Rules, Seven...
This issue: ITV Studios’ David Mott, News Corp’s virtual reality, the Newsflash app, Fox Sports, 7flix
AACTA Awards Part 1, Presto's Home & Away special, Outdoor year in review, Sara Keith, Julia McGauran, Mamamia, Guardian Australia
oOh! Media ads 26 shopping centres to its retail portfolio following exclusive deals with McConaghy Retail and Coles Group Property and ISPT.
oOh! NZ hires OMANZ general manager
Inside Mediaweek’s new issue for 25 May 2015
oOh! adds three new digital billboards in Sydney on Southern Cross Drive
Lockdown Viewing: Normal People coming to Stan on April 27
Screen Australia and Vice announce Pitch Australiana winner
Zoo goes virtual as Taronga TV launches
JCDecaux launches ‘Thank You’ Out-of-Home campaign
No golf, but Fox Sports will still celebrate US Masters
Facebook invests further $100m to support US news industry


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Serbia Newsflash Week 25
Plantation establishment incentive program, the struggles of the sugar industry, dairy producers facing hard times, EU-Western Balkan business platform launch, agricultural market regulation legislation entering into force - The week in Serbian agriculture
New call for IPARD program incentives
The Ministry of Agriculture of Serbia launched a new public call for applications with the purpose of disbursing funds as incentives from the EU’s assistance for rural development IPARD funds. Incentives are to be used for investments in agricultural holdings’ physical assets, meaning new on-farm buildings and the purchase of equipment (apart from tractors).
Applicable items include the costs associated with the establishment of fruit, vegetable and grape plantations. The total budget is cca. €60 million, and the deadline for the submission of proposals is September 10th . For the first time, approved proposals will get 50% of the incentives before buying the equipment instead of having money reimbursed after the purchase of the assets.
The incentives will cover up to 65% of the total investment. An investment cannot exceed €1 million. The funds for this call are allocated from the IPARD 2014-2020 program. The first call was launched in 2017. Since the procedures for participating are complex, Serbian farmers can receive support from specialized consultancy agencies, whose services are covered by the IPARD funds and are partially reimbursed from the program itself.
Law on Regulation of Agricultural products market passed
As announced in our Week 23 Newsflash, Serbia’s Parliamentary Committee on Agriculture adopted the Law on the Regulation of the Agricultural Products Market. Explaining the new Law, Assistant Minister for Agrarian Policy, Mr. Katanic pointed out that “Serbia is regulating the entire agricultural products market for the first time. In terms of standards, it will be a big step towards common policy with the EU, whereby Serbia will protect its agricultural products and trademarks, allowing producers to enter new markets, improve the quality, and have equal rights at the European market”. As he recalled, this regulation entails public interventions in the market, support for private warehousing, special interventions, and urgent interventions. He also noted that the Law sets an obligation for the elementary school system – providing dairy products and fruits in pupils’ meals to ensure a healthy diet. “The Law also entails improving producers’ status. That is to be achieved by the state financing of producer organizations activities over period of five years with the aim of transforming them into business associations so that they can connect with wholesale buyers and processors,” the Assistant Minister explained.
Abolition of the EU sugar quota affects sugar industry in Serbia
After the abolition of the sugar production quota system in the EU in 2017, a hyper-production of this strategically important commodity started in EU member states, negatively affecting the sugar industry in Serbia and the region. This was concluded at a gathering in the Serbian Chamber of Commerce (PKS) last week. At the presentation of the results of a study titled “Sector Analysis of the Sugar Industry in Serbia” conducted by the Faculty of Economics in Belgrade, the Secretary of the Association for Plant Production and Food Industry of the Chamber of Commerce emphasized that the sugar industry in Serbia and the region had been reporting negative trends for years.
Professor Loncar from the Belgrade Faculty of Economics recalled that there used to be 16 sugar plants in Serbia in 2000, whereas now only four of them are operational. “Between 2016 and 2020, local sugar producers contributed €315.8 million to the national budget through various charges. Every RSD 1 coming from sugar sales in retail trade means another RSD 4 in Serbia’s GDP,” professor pointed out. He added that sugar beet areas declines by 7% each year, while sugar beet yields decreased by 3%. Also, sugar production in Serbia is lower by 14% on average every year, whereas the EU has been reporting an upward trend in terms of sugar beet fields, up by around 4% a year.
Milk producers ask for minimum wholesale price
Milk producers in Serbia have reported major financial losses because wholesale buyers have been paying the same price for the past six years, Serbian Association of Cattle Breeders President Sanja Bugarski stated for Beta news agency. Mrs. Bugarski explained that the average production price of milk is €0.48 per liter, while the average wholesale price is cca €0.25/l.
“We took out loans hoping to reach some kind of an agreement with the buyers about raising the wholesale price, but no one understands us,” Mrs. Bugarski underscored. She added that another blow for milk producers was a 50-80% increase in the price of cereals and oilseeds. According to the president, milk producers have been getting a premium of €0.05/l from the state for around ten years, noting that the money should be used for the renewal of depreciable equipment. “We have used up all the funds to save the production, and now, the only possibility is either for the state to propose a minimum price for wholesale buyers or for us to wait for court-appointed executors,” Mrs. Bugarski said. She pointed out to the difficult position of milk producers due to “the huge import of dairy products whose quality should be inspected.”
Raspberries are Serbia’s main fruit export
Serbia is a global leader in frozen raspberry production and almost all of its output of the fruit is sold in the markets of developed countries. According to recent figures from the National Statistical Office, Serbia produced 118.674 metric tons of raspberry on 24.028 hectares of land in 2020 and frozen raspberry exports were worth €259 million, accounting for 40% of Serbia’s total fruit exports.
The 2021 raspberry harvest has been delayed by unfavorable weather conditions in April and in May. “Plantations are generally in good condition, with minor variations between regions of cultivation and without observed damage caused by bad weather,” said Mr. Ljubojevic from the Serbian Chamber of Commerce. He said this year’s harvest yield was expected to be an average quantity-wise, but noted that this largely depended on weather conditions in the period to come, and added that producers were mostly encouraged by last year’s price and committed to working on their raspberry plantations and to additionally investment in expansions of production capacities.
Meanwhile, berry, cherry, and sour cherry producers are facing hard times in Serbia. For more details, see our report here.
The eight sectors with the biggest potential in the Serbian economy
As a part of the Serbia Innovates project, an analysis was conducted by the Center for Technology Entrepreneurship and Innovation ICT Hub and the USAID. Results of the analysis show that there are eight sectors in Serbia with the highest the potential for success.
The fields in question are artificial intelligence, block chain technology, high-tech agricultural production, the gaming industry, smart environment solutions, eco-smart energy sources, advanced materials and manufacturing processes, and biotechnology.
The ICT Hub and USAID presented the project to representatives of Serbian businesses, startups, and the academic community. The aim is to make joint efforts to create a favorable investment environment in Serbia. According to an official statement, activities within this project will last four and a half years.
ICT Hub General Manager Mr. Andric said more and more companies, even SMEs, were recognizing the importance of innovations, so they were starting to cooperate, develop digital strategies, and encourage entrepreneurship. “We also have major legislative changes to support innovations and e-commerce in Serbia. What we need now is a bold and concrete strategy,” Andric pointed out.
EU-Western Balkan business platform launched
The European Commission and the Western Balkans 6 Chamber Investment forum (WB6 CIF) have launched a joint EU-WB6 platform, bringing together businesses from the region and EU representatives with the aim of enhancing dialogue and helping Western Balkan economies overcome challenges and prepare for integration with the EU single market. President of Chamber of Commerce of Serbia (PKS) Mr. Cadez, who also chairs the WB6 CIF, highlighted the significance of strengthening the dialogue between the region’s business community and the EU, as well as of the EU single market progressively becoming open to companies and products from the Western Balkans.
Mr. Cadez said he expected early integration to be available sectors that were compliant with EU rules and standards. Welcoming the launch of the business platform, EU Enlargement Commissioner Mr. Várhelyi said it was important for boosting strategic cooperation between the EU and the Western Balkan region. He expects public-private dialogue to facilitate the implementation of the EU’s €9 billion economic and investment plan for the Western Balkans.


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Crypto Events Recap, August 1-2
Launches Japan unit and offers access to 34 virtual currencies, more than any other crypto exchange in Japan.
Kenya has suspended the local activities of Worldcoin while government agencies assess potential risks to public safety.
Announced the launch of its decentralized exchange on Base Mainnet.
Partnered with the "Lucian Blaga" University to launch a “Blockchain and FinTech Applications” course, focused on MultiversX.
Plans to add Bitcoin's Lightning network for payments as part of its plan to offer more crypto payments to users.
Michael Egorov, founder of Curve, has sold at least 39M CRV tokens in OTC transactions with multiple entities.
Uniswap delisted the HEX token from its interface after it was called an unregistered security by the SEC.
The bankruptcy administrators have filed a proposed plan that would see a possible restart of FTX.com.
Announced the release of NFT Price Feed feature enabling users to access real-time pricing info for NFT collections.
Plans to raise up to $750 million via a stock sale and says it may use the proceeds to buy more Bitcoin.
Launched a non-profit organization Open Ordinals to bolster the protocol’s future development.
Hyundai Motor Company and Kia Corporation introduced Supplier CO2 Emission Monitoring System (SCEMS) built on Hedera.


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As Fresh Direct grabs headlines for ditching Long Island City, FedEx Ground has forged plans to build a new $56 million on the grocer’s current block for a new distribution center. According to the New York Daily News, FedEx will close its Maspeth distribution facility next year to move into a 140,000-square-foot Center On Borden Avenue.
The company said it coveted the area for its easy access to the Long Island Expressway and the Midtown Tunnel, its proximity to customer distribution centers and the area’s sizable workforce. The company has been looking to expand distribution and speed delivery times in the wake of the U.S. Postal Service’s cuts.
The project is being developed by North Carolina-based SunCap Property Group on land it owns in partnership with Lexington Realty Trust, according to the Post. FedEx initially sought a facility in Astoria but faced staunch community opposition. Queens Borough President Helen Marshall said the Borden Avenue location would be a better one, considering the area’s manufacturing hub. “Hopefully, it will also boost local businesses affected by the departure of Fresh Direct,” she said. [NYDN]


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“I’m almost out of gas and it’s like Mad Max out there,” says King Phojanakong, who owns the restaurants Umi Nom in Bed-Stuy and Kuma Inn in the LES, which is temporarily closed. Because the trains aren’t running, Phojanakong has been picking up and dropping off his employees since Tuesday, starting in Woodhaven and Inwood and ending at his Bed-Stuy restaurant.
There may be millions of gallons docking right now, but the pumps are empty and gas stations have attracted both long lines and confrontations. So while he can still do business and afford to pay his employees, Phojanakong says he will consider bartering meals for gas.
He isn’t the only one. While the Red Hook Lobster Pound, which lost of thousands of dollars worth of merchandise and equipment, put out a call for gasoline while the cleanup continues, at Bubby’s in Tribeca, owner Ron Silver has taken to Twitter to set his terms. “We are in need of six gallons of gas in order to keep serving food tomorrow,” Silver wrote yesterday, seeking to keep his generators, and the restaurant, powered in exchange for pies and pancakes. One of the restaurant’s supporters has even been checking in at fuel pumps in Harlem, but no one has been successful.


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Meda’s acquisition of Rottapharm helps both companies fulfil long-held ambitions. The Swedish company gets to beef itself up substantially – it is the latest in a string of purchases, and will help protect it against predatory US acquirers – while the family-owned Italian drug maker has finally achieved the valuation it wanted.
The total purchase price of SKr21.2bn ($3.1bn) values Rottapharm above the upper end of what it was trying to achieve at its recently failed IPO attempt. Meda estimates that there are respectable cost savings to be made and says these, plus the higher gross margins enjoyed by its target, justify the premium. Its investors seem to agree: shares rose 4.4% to SKr111.1 on the news.
The rise gives Meda a market cap of SKr33.6bn ($4.9bn); its shares have advanced 39% since mid-February when Mylan emerged as a suitor, and are trading close to record highs (Speciality pharma companies drive sector deal-making, April 29, 2014). The deal, which includes SKr3.3bn worth of stock, makes good use of its inflated share price.
Rottapharm generated revenues of €536m ($717m) in 2013 and made an adjusted EBITDA of €149m. The Swedish company, which will significantly grow its consumer healthcare division and emerging market presence in regions such as southeast Asia with the move, reported sales of $2bn last year.
The addition moves Meda substantially higher up the rankings of European speciality companies, potentially becoming number five in 2020 given that Shire has recently capitulated to AbbVie.
|European speciality pharma companies|
|Total revenues ($bn)|
|Les Laboratoires Servier||5.5||5.5|
|Meda + Rottapharm||2.7||3.7|
Meda estimates that it can make cost savings of SKr900m or $131m a year by 2016. This will help add 20% to earnings per share from this time. The extra debt raised to fund the remainder of the deal – SKr26bn – will be paid off in 2016, the company projects. The deal is also being funded by an equity rights issue, to raise SKr2bn.
“We are very confident we will realise these synergies. We have done this several times in the past,” Jörg-Thomas Dierks, chief executive of Meda, told EP Vantage.
Meda has long been a fairly acquisitive company but this is by far its biggest deal to date. Until now its largest transaction was the purchase of 3M’s pharma unit in 2007, for $840m.
The two companies have a lot of overlap in Europe, he said, while the higher gross margin that Rottapharm generates in what Meda describes as the Cx business will benefit the combined company. These products, such as a glucosamine supplement called Dona and a dyslipidaemia nutraceutical called Armolipid, are not reimbursed or prescribed but they tend to be recommended by physicians or chemists.
They enjoy a strong brand loyalty and pricing power, Mr Dierks said, and can be promoted by Meda’s existing sales force.
Rottapharm scrapped IPO plans earlier this month after failing to get what it wanted – a market cap of €1.45bn to €1.8bn. This valuation was apparently too rich for local investors, many of whom remain cautious about new issues.
With M&A activity in the speciality pharma sector showing no sign of waning, a profitable and willing seller like Rottapharm was never going to struggle to attract interest. And having recently fought off Mylan, Meda was no doubt a motivated buyer.
Still, Mr Dierks denies that the move was a reaction to predatory advances.
“Fear or pressure is never a good consultant on what to do. It has to serve your strategy. Since spring, we have looked at 150 possible targets and Rottapham fits our strategic objectives with prescription products, over-the-counter and a presence in emerging markets,” he said.
Acquisitions will remain a central part of the strategy, he added, repeating a previous aim to double sales in two to three years.
In this climate of buy or be bought, Meda clearly intends to continue writing the cheques.