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Debenhams Plc Upgraded by N+1 Singer to “Buy” (DEB)
Debenhams Plc (LON:DEB) was upgraded by analysts at N+1 Singer to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a GBX 80 ($1.32) price target on the stock, down from their previous price target of GBX 85 ($1.41). N+1 Singer’s price target suggests a potential upside of 22.61% from the stock’s previous close.
A number of other analysts have also recently weighed in on DEB. Analysts at Barclays reiterated an “equal weight” rating on shares of Debenhams Plc in a research note on Friday, August 22nd. They now have a GBX 70 ($1.16) price target on the stock. Separately, analysts at Cantor Fitzgerald Europe upgraded shares of Debenhams Plc to a “hold” rating in a research note on Wednesday, August 20th. They now have a GBX 65 ($1.08) price target on the stock, down previously from GBX 70 ($1.16). Finally, analysts at Investec reiterated a “hold” rating on shares of Debenhams Plc in a research note on Tuesday, August 19th. They now have a GBX 62 ($1.03) price target on the stock. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of GBX 77.63 ($1.28).
Debenhams Plc (LON:DEB) traded up 1.69% during mid-day trading on Friday, hitting GBX 66.35. The stock had a trading volume of 1,015,430 shares. Debenhams Plc has a 1-year low of GBX 61.45 and a 1-year high of GBX 113.50. The stock’s 50-day moving average is GBX 65.02 and its 200-day moving average is GBX 73.24. The company’s market cap is £814.7 million.
Debenhams plc is a United Kingdom-based holding company. The principal activities of the Company and its subsidiaries are the sale of fashion clothing and accessories, cosmetics and products for use in the home.
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Badda Bing, Badda Boom: Carl's Jr. Goes Italian With New Parm
Marinara Lovers Rejoice!
10.21.2009 – CARPINTERIA, Calif. – October 21, 2009 – Today Carl’s Jr.®
restaurants launched its newest creation: the Parmesan Chicken Sandwich.
Featuring a crispy breaded chicken fillet topped with melted cheese, smothered in
authentic marinara sauce all on a sesame seed bun, wise guys everywhere are
lining up at the drive-thru to chow down.
“Many people love the taste of a breaded chicken breast fillet covered with cheese
and a zesty marinara sauce,” said Brad Haley, executive vice president of marketing
for Carl’s Jr. “The new Parmesan Chicken Sandwich from Carl’s Jr. is a big
sandwich that will fill those cravings in a big way. End of story. Capiche?”
The sandwich, available for $3.99 or $6.49 as a combo, is being promoted through
clever ads created by Los Angeles-based advertising agency Mendelsohn|Zien, the
firm behind many iconic Carl's Jr. and Hardee's® ads. The campaign depicts a guy
who outwits two burley hitmen types assisted by conspicuous marinara stains on
his shirt from eating his Parmesan Chicken Sandwich. The ads can be viewed on
the Carl’s Jr. YouTube channel at www.youtube.com/carlsjr.
Next week Carl’s Jr. will launch a Facebook quiz that allows consumers to answer
mob-related questions to determine which infamous “made guy” they are most like
at heart. Visit Carl’s Jr. Facebook page at www.facebook.com/carlsjr to play.
# # #
Video Embed Code
About Carl's Jr.
ABOUT CARL'S JR
Carlâ€™s Jr. is celebrating more than 65 years in the quick-service industry. What
began as a lone hot dog cart in Los Angeles, Calif. in 1941 is today an international
organization that employs nearly 30,000 people worldwide. Carlâ€™s Jr. is a wholly
owned subsidiary of CKE Restaurants, Inc. (NYSE: CKR) of Carpinteria, Calif. As of
the end of its fiscal 2010 first quarter, CKE Restaurants, Inc., through its
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Bernard Arnault’s long-term, family-driven view on luxury extends to himself.
On Thursday, shareholders of LVMH Moët Hennessy Louis Vuitton voted 81.6 percent in favor of a resolution to extend to 80 the age limit for its longtime chairman and chief executive officer, who is 73. Previously the company’s bylaws fixed 75 as the age limit for serving as CEO.
Dressed in a slim-fitting suit the same shade of blue favored by French President Emmanuel Macron, the luxury titan was in fine form on Thursday morning as he presided over LVMH’s first in-person annual shareholder’s meeting in three years. He touted the group’s “remarkable performance” in 2021, when revenues in its key fashion and leather goods business division vaulted 42 percent versus 2019 — and cracked jokes when the voting machinery got glitchy ahead of resolutions concerning his remuneration.
Arnault also indulged in some of his signature hyperbole, boasting that Christian Dior, one of the crown jewels of the diversified group, is a French name even more famous than Napoleon.
He also noted that LVMH improved its performance to such a degree in 2021 that its operating profits, which came in at 17.2 billion euros, approximate the revenues of other luxury groups — a veiled dig at smaller rival Kering.
Operating profits in 2021 were double those of 2020, and 49 percent higher than in 2019 before the pandemic hit.
Shareholders sat rapt at the Carrousel du Louvre as Arnault extolled his conviction that luxury goods is a long-term play, not a quarterly race, and one best shepherded by family with skin in the game.
Four of his five children — Delphine, Antoine, Frédéric and Jean — sat in the front row of the audience, interspersed with other LVMH brass. (Alexandre Arnault, an executive vice president at Tiffany & Co., is based in New York.)
“You are not shareholders in some anonymous group; therefore, you are part of the family,” he told the room, flashing a warm smile.
He also reiterated that “profits are a consequence of what we do” rather than a goal in itself, extolling the four key values of the group: creativity; an entrepreneurial spirt; excellence in products and retail experiences, and a commitment to doing good for the environment and society.
Shares in LVMH have gained about 25 percent since Jan. 1, but it’s not a point of pride for Arnault. “I never look at the stock exchange,” he asserted.
He reiterated his skepticism about the metaverse, even questioning Facebook’s name change to Meta. “There’s no need to rush. We should be prudent,” he said, suggesting that digital fashions for avatars is not in LVMH’s DNA. “We want to sell real products.”
While some brands are hawking virtual sneakers, Arnault touted the record-breaking auction last February that saw 200 pairs of Louis Vuitton and Nike “Air Force 1” sneakers by Virgil Abloh sell for a total $25.3 million, all to benefit the Virgil Abloh “Post-Modern” scholarship fund.
Arnault also paid tribute to Abloh, founder of the Off-White label and creative director of Vuitton menswear until his death last November at the age of 41, inviting shareholders to view the “Coming of Age” exhibition dedicated to him at the Fondation Louis Vuitton until April 27.
The executive trumpeted that Tiffany, which LVMH acquired last year, is “developing better than expected” and that its Fifth Avenue flagship in New York City, currently under renovation, should be ready by the end of the year.
LVMH conscripted French economist Nicolas Bouzou to delve into LVMH’s wider impact on the French economy. The study found that LVMH is responsible for generating some 145,000 jobs in France and adds a total of 36.6 billion euros to the economy.
The luxury conglomerate, which owns 75 brands including Fendi, Loewe, Bulgari, Dom Perignon, Sephora and Guerlain, exports 75 percent of what it produces, an amount bigger than the pharmaceutical industry, according to Bouzou’s study.
In a lively presentation, Antoine Arnault, head of image and environment at LVMH, detailed the group’s eco progress, plucking from under the podium a pair of colorful upcycled Vuitton sneakers and then a Loewe bag woven from strips of discarded leather that is currently out of stock.
He highlighted that 57 percent of the group’s boutiques are fully LED, while 81 percent of leathers used are certified LWG and 61 percent of cotton is certified, up from 74 percent and 51 percent versus a year ago, respectively.
He said the group is aiming to have 100 percent of its products eco conceived by 2030, and to reduce emissions by 55 percent in the same time frame.
Chantal Gaemperle, executive vice president of human resources and synergies at LVMH, described progress in diversity and inclusion, noting that women now occupy 44 percent of key posts at LVMH, versus only 23 percent in 2017.
The group also continues its policy of grooming and promoting talent from within. Last year, 75 percent of key posts were filled internally, with a total of 5,580 employees getting promotions.
Hermès Touts Craftsmanship Over Metaverse at Shareholders Meeting
LVMH Q1 Revenues Jump Despite War in Ukraine, China Lockdowns


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Source: Dmitry Kalinovsky ,Shutterstock
A country’s retail sector in an integral part of its economy, wherein, the retailers act as the endmost locus in the supply chain before the product/service reaches the customer whether local or international.
Speaking of the pre-COVID 19 times, the retail sector across the globe was growing by leaps and bounds, but with the pandemic hitting the shores, this sector was one of the first ones to experience a prick. The novel coronavirus has reshaped this industry and rewritten the rules of business operations.
Source: © Imtmphoto | Megapixl.com
From NZ’s perspective, the country’s retail sector did witness a little softness during the first few months of the lockdown in 2020. But with the arrival of 2021 earmarked with the easing out of restrictions, the sector is again seeing the road to revival.
According to Statistics NZ, in Q4 of 2020, New Zealand’s retail sales climbed 4.8% Y-O-Y. Sales for retailing of electronic goods were recorded at 21%, for motor parts & vehicles at 9.3% and departmental stores at 8.5%, to name a few.
Source: Copyright © 2021 Kalkine Media Pty Ltd
Emergence Of New Trends in NZ Retailing
With lockdowns and restrictions now becoming a new norm, the country saw a surge in innovative trends during shopping. Focusing on customer safety, many retail stores are introducing new customer experiences like ‘click and collect’, buy now pay later and contactless shopping, thereby, increasing their digital footprint.
A recent research suggested that over 170K New Zealanders experienced online shopping for the first time amid the lockdown in the initial months of 2020. Another study pointed that 50-70% of Kiwi shoppers purchased extra products while online shopping.
With this insight, let us now gaze at the 5 retail stocks making a splash across NZX.
The Warehouse Group Limited (NZX:WHS)
The Warehouse Group Limited was established by Sir Stephen Tindall and at present with 260+ retail stores, it is one of the largest retailing groups across New Zealand with sales amounting to $3 billion.
The Group recorded strong sales performance in January 2021, coupled with efficient cost management and outstanding operational performance. It anticipates adjusted NPAT to surpass $110 million for H1 FY21 in comparison to H1 FY20’s $46.2 million. This would result in an increase in trading gross margin to 185 basis points with closing cash of $183 million.
On 19 March 2021, at the time of writing, WHS stock was trading down by 2.51% at $3.490.
Hallenstein Glasson Holdings Limited (NZX:HLG)
Hallenstein Glasson Holdings Limited is one of the leading retailers for women’s fashion. The Company is acclaimed for its vibrant stores and a distinctive fashion sense.
In its trading update for the half-year period ended 1 February 2021, HLG anticipates unaudited PAT between $19.5 million -$20 million, up 28% on pcp. It recorded 13.6 % increase in total group sales to $182 million during the above-mentioned half year period.
With lockdowns in the initial months of 2020, online sales witnessed a surge and were recorded at 24% of sales during the first half of the year. The Company will release its half-year results and dividend distribution in the latter half of March 2021.
On 19 March 2021, at the time of writing, HLG stock was trading up by 0.27% at $7.48.
Briscoe Group Limited (NZX:BGP)
Headquartered at Auckland, the retail chain, Briscoe Group Limited is spread across NZ dealing in Briscoes Homeware, Living & Giving and Rebel Sport.
Amid the uncertain economic conditions caused by COVID 19, Briscoe Group remained resilient and delivered an impressive performance for the year 2020.
The Group sales were reported at $701.8 million, up 7.47% as per the annual statements ended 31 January 2021. Similar upward trends were recorded for the homeware sales and sporting goods sales. NPAT rose by 16.96% to $73.2 million during the year with net cash of $100.4 million at the year end.
This reflects the Group’s strong and robust balance sheet position. Briscoe had paid 6.00 cps as special dividend in January 2021. Further, the Board has agreed to pay final dividend of 13.50 cps on 31 March 2021 to its shareholders.
One major highlight was inspite of the nation-wide lockdown and restrictions, BGP cashed on to the emerging technologies and trends and reported a never before 79.65% increase in online sales which amounted to 18.81% of the group sales.
On 19 March 2021, at the time of writing, BGP stock was trading flat at $5.7.
Kathmandu Holdings Limited (NZX:KMD)
Founded in 1987 by Jan Cameron and John Pawson, Kathmandu Holdings Limited is a transnational retail store chain specialising in outdoor, lifestyle and sports. It comprises of 3 renowned brands – Kathmandu, Rip Curl and Oboz.
The Company provided few updates on its unaudited trading performance for 1HFY21. Total group sales reflected an upwards trend of 12% on previous year for 1H FY21, reflecting the successful acquisition and integration of the iconic brands, Rip Curl and Oboz. Its EBITDA is likely to be in the range $47 million- $49 million. KMD anticipates its group net debt at around $7 million.
Also, the Company witnessed the resignation of its Group CEO, Xavier Simonet. He, however, will continue to work during his notice period of six-months.
On 19 March 2021, at the time of writing, KMD stock trading down by 1.61% at $1.220.
Michael Hill International Limited (NZX:MHJ)
Established in 1979, with its first store in the NZ town of Whangarei, Michael Hill International Limited is a global multi-channel retail jewellery chain.
In its recent declaration of half-year results ended 27 December 2020, Michael Hill revealed an increase of 82.1% in its statutory NPAT to $39 million, when compared to H1 FY20’s $21.4 million. Statutory EBIT jumped to $58.9 million, up 66.9% on pcp. Group margin increased to 62.7% during the period, while MHJ aimed at balancing both margin and sales growth.
Despite the impact of COVID-19, which resulted in loss of 3,709 store trading days, Michael Hill focused on increasing its digital sales, which saw a tremendous rise of 102% resulting in $18.5 million during the six months period. On the contrary, digital sales was recorded only 2.8% of total sales for FY20H1.
The Company announced AU 1.5 cps as interim dividend, payable on 26 March 2021.
On 19 March 2021, at the time of writing, MHJ stock trading flat at $0.700.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)


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New BMW 1 Series
Last week BMW announced their new BMW 1 Series, it’s a stunning looking car.
The designers at BMW have truly pulled the cat out of the bag on this one.
Vehicle Contract hire companies are desperately trying to pre-order the popular vehicle to offer their cheap leasing rates!
Southern Van Hire and First Vehicle Leasing are going to be one of the first companies in Southampton to get hold of the vehicles.


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Following two years of rapid reader growth, Travel Market Report, the voice of the travel professional, is expanding its editorial team and coverage to better serve its audience of top selling leisure travel agents in the U.S. and Canada.
Award-winning industry journalist Donna Tunney is joining the TMR editorial team and will be authoring a weekly news column alternating between Cruises and Luxury, two beats where she has extensive experience. At Travel Weekly, Tunney served as senior cruise editor, managing editor and executive editor and was launch editor of their luxury e-newsletter. Later Tunney was editor of Travel Management Daily. She has also covered cruising for Sherman’s Travel, The Examiner and Travel42. Tunney joins TMR cruise editor Daniel McCarthy in providing the most extensive coverage of any trade publication in this important category.
Expanding coverage of Europe, Maria Lisella, another multi-award winning journalist, will join as I’s first-ever Europe Editor. Previously editor of Jax Fax Travel Marketing Magazine, Europe Editor for Travel Agent Magazine, and Associate Editor at Travel and Leisure, she is currently a New York Expert at USA Today and has been a contributor to FoxNews.com, and other consumer outlets.
Additionally, as previously announced, Marilee Crocker is now senior contributing editor. Another award-winning industry veteran, and former managing editor of Travel Weekly and Meetings & Conventions, Crocker served as TMR editor from 2011-2014. She is an expert in small and medium size businesses, and launched a syndicated column on the issues of operating a home-based business. In Crocker’s new role she will provide additional retail coverage focused on consortia and host agencies via the Headquarters Happenings column, joining Richard D’Ambrosio, senior editor of TMR, who will continue to cover retailer associations, legal and regulatory issues impacting travel agents, retailer news and contribute to Luxury coverage.
In a separate move, associate editor Jessica Montevago will assume responsibilities as Caribbean Editor.
“Travel Market Report is the only travel trade publication started by travel agents as an answer to what we believed was a void in the market. The mission of Travel Market Report is to cover industry news from the perspective of retail travel agents. Adding top journalists such as Lisella and Tunney to what is already a very strong team and having Crocker in a leading role underscores our mission as the voice of the travel professional and adds to what we believe is the best team in the business,” said Cheryl Rosen, TMR editor.
Earlier this month TMR launched its exclusive Luxury Channel, providing readers daily news and insights. “Over the past two years we’ve seen our website readers grow by 156% and now have over 80,000 top selling leisure agents who read Travel Market Report every month. In 2017 we are seeing continued strong growth with 30% gains year-to-date. These appointments reflect our goal of having the best team of editors and reporters in the industry and continuing to build our readership of full-time, top-producing travel agents by providing quality content,” said Anne Marie Moebes, EVP and co-publisher.


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Outbreaks related to nonpasteurized milk have increased since 2007
The number of infectious outbreaks associated with nonpasteurized milk in the United States increased between 2007 and 2012, according to recent findings.
Despite this, many state legislatures have considered loosening restrictions on the sale of nonpasteurized milk in response to increased demand, researchers said.
The researchers evaluated foodborne disease outbreaks reported to the CDC’s Foodborne Disease Outbreak Surveillance System between 2007 and 2012, in which nonpasteurized milk was the vehicle of transmission. They defined a foodborne disease outbreak as the occurrence of two or more cases of a similar illness resulting from consumption of a common food.
Between 2007 and 2012, a total of 81 outbreaks related to nonpasteurized milk were reported in 26 states. These outbreaks included 979 illnesses and 73 hospitalizations, but no deaths were reported. The causative agent was identified in all of the outbreaks. Of the 78 outbreaks with a common etiology, Campylobacter spp. was the most prevalent pathogen, causing 81% of outbreaks. This was followed by Shiga toxin-producing Escherichia coli (17%), Salmonella enterica serotype Typhimurium (3%), and Coxiella burnetii (1%). Three outbreaks originated from multiple pathogens.
There was an increase in outbreaks from 30 during 2007-2009 to 51 during 2010-2012. Approximately 2% of foodborne outbreaks in 2007-2009 were related to nonpasteurized milk consumption, and this percentage increased to 5% in 2010-2012. Additionally, there was an increase in the number of Campylobacter spp. infections, from 22 during 2007-2009 to 40 during 2010-2012.
For 68 (84%) of the outbreaks, data were reported on how the milk was acquired. Nonpasteurized milk was acquired from the following sources: dairy farms (71% of outbreaks); licensed or commercial milk sellers (13% of outbreaks); cow- or herd-share arrangements (12% of outbreaks); and other sources (4% of outbreaks).
Of all foodborne disease outbreaks reported from 2007 to 2009, 81% were reported in states where the sale of nonpasteurized milk was legal to some degree.
According to the researchers, outbreaks associated with nonpasteurized milk continue to pose a public health threat, which will likely only worsen with increased legalization of nonpasteurized milk sales.
“This possibility is especially concerning for vulnerable populations, who are most susceptible to the pathogens commonly found in nonpasteurized milk. Public health officials should continue to educate legislators and consumers about the dangers associated with consuming nonpasteurized milk,” they wrote.
Disclosure: The researchers report no relevant disclosures.


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Would you be willing to pay more than $100 for an Amazon Prime membership?
You may have to ask yourself that question pretty soon, as the online retail giant has just hinted that they are at least considering raising the price of the popular service. Citing a rise in transportation costs and increased usage, Amazon said that they might raise the price 20 to 40 dollars for a year’s subscription.
From Amazon’s earnings call:
We launched Prime in the U.S. nine years ago with free, unlimited two-day shipping on one main items in an annual membership priced at $79. Today, Prime Selection is growing to over 90 million items.
Even as fuel and transportation costs have increased, the $79 price has remained the same. We know the customers love Prime as the usage of the shipping benefit has increased dramatically since launch. On a per customer basis, Prime members are ordering more items across more categories with free two-day shipping than ever before.
With the increased cost of fuel, transportation, as well as the increased usage among Prime members, we’re considering increasing the price of Prime between $20 to $40 in the U.S.
Since a current Amazon Prime membership sits at $79, this means that we’re talking about a possible range of $99 to $119 per year if Amazon decides to go that route.
This announcement comes 3 months after Amazon upped the free shipping threshold (for non-Prime members) to $35. Free shipping used to kick in at a $25 order.
I don’t know, guys – what do you think? For people that constantly make use of the fast shipping (multiple items ordered per month), the price hike will probably be justifiable. For the casual Amazon Prime subscriber? The decision to stay on or hop off the boat will be a bit trickier.
Image via Stephen Woods, Flickr Creative Commons


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Thailand’s Food and Drug Administration (FDA) has recently held meetings to discuss methods of improving supervision of post-market surveillance and medical product advertising.
The Medical Device Control Division of the Thai FDA held a seminar in Bangkok on June 3rd and 4th, 2008 on Thailand’s adverse event reporting system. With attendees from both the government and industry, the meeting discussed post-market vigilance requirements based on international medical device controls.
It also provided a framework for the planned harmonization efforts of ASEAN with its Safety Alert Dissemination System. In addition, the ASEAN Consultative Committee for Standard and Quality Product Working Group on Medical Devices recently held its 8th meeting July 15 to 17, 2008, with workshops on product registration systems and medical device controls to standardize patient safety.
The Thai FDA also recently attended a workshop to determine how best to control medical product advertising. All medical product advertising needs to be submitted to the Thai FDA for approval before being published or aired. However, the Thai FDA has found numerous cases of misleading and exaggerated claims in unapproved healthcare product advertising. The Thai FDA has formed an alliance with consumer groups to set up a network monitoring medical product advertising more strictly.


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Global biofertilizers market is expected to reach $1.67 billion by 2022, according to a new study by Grand View Research, Inc. The industry is expected to witness significant gains over the next seven years, owing to rising need for feasible eco-friendly solution for plant and soil growth.
Emergence of a drop in replacements for chemical fertilizers, on account of environment friendly properties, and similar applications is expected to promote growth. Stringent regulations coupled with government initiatives supporting biofertilizers use is a primary reason for perpetuating growth over the past few years.
Favorable government support for use of eco-friendly products and increasing production output of organic foods is expected to augment market growth in North America and Europe over the forecast period.
Fluctuating chemical prices coupled with commercial response to growing food cost is expected to be one of the key drivers for the market over the next seven years. Growing need for high agricultural yield in order to meet increasing population needs has triggered products use on account of low environmental impact.
Further key findings from the study suggest:
- Phosphate solubilizing biofertilizers market is expected to grow at the fastest CAGR of 13.9% from 2015 to 2022. These include bacillus, pseudomonas and aspergillums bacteria which provide phosphorous macronutrients to plants. Soluble bacteria in the product impart superior characteristics and are the key reason for high growth expectation over the forecast period.
- Soil treatment accounted for over 30.0% of global market revenue in 2014 and is expected to grow at a CAGR of 13.0% from 2015 to 2022. Rising awareness towards deployment of eco-friendly products for increasing crop yield is expected to augment product demand.
- North America biofertilizers market was the largest in terms of revenue accounting for over 32.0% in 2014 on account of numerous manufacturers in the region. Positive agriculture industry outlook in the U.S. and Canada along with increasing awareness regarding the application of eco-friendly products in farming is expected to have favorable impact for biofertilizers market.
- Some of the key biofertilizer manufacturers include CBF China Bio-fertilizer AG, Novozymes A/S, Antibiotice S.A, AgriLife, and Symborg S.L. In January 2011, CBF China Bio-fertilizer built a new production line in the Shandong plant with an additional capacity of 10,000 tons. Novozymes' new enzyme technology is known to produce high yields of corn oil and ethanol along with energy savings during production.
To view the report, "Biofertilizers Market Analysis By Product (Nitrogen Fixing, Phosphate Solubilizing), By Application (Seed Treatment, Soil Treatment) And Segment Forecasts To 2022" click here.


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For Immediate Release
August 12, 2008
Contact: John Neurohr
Brock N. Meeks
Center for Democracy and Technology
202-637-9800 x 114
New report from the Center for American Progress and Center for Democracy and Technology finds that state attorneys general receive thousands of complaints of online fraud and abuse but have launched relatively few cases in response
Washington, D.C. - State attorneys general received thousands of consumer complaints of online fraud and abuse in 2006 and 2007 and yet, with the exception of several notable standouts, brought few significant cases in response, according to a report released today from the Center for American Progress and the Center for Democracy and Technology, Online Consumers at Risk and the Role of State Attorneys General.
Most states supplied the authors with a top 10 list ranking consumer complaint categories (Internet-related and other). In 2007, 24 out of 30 states that provided rankings reported an Internet-related category within their top 10. Eight states ranked Internet-related complaints among their top three most common consumer complaints, including four states that ranked Internet-related complaints at the top of the list.
For 2007 and 2006, 20 states provided the number of consumer complaints associated with each category - the others merely provided rankings without giving the number of complaints. In both years, these states reported roughly 20,000 Internet-related complaints.
The Federal Trade Commission also provides data for all 50 states on consumer complaints related to Internet fraud. These data are compiled from a variety of sources, including 13 state attorneys general. In 2007, the FTC reported 221,226 Internet-related fraud complaints, up almost 16,000 from 2006 and more than 24,000 in 2005.
"These numbers are startling, but they may even understate the problem," said Reece Rushing, director of regulatory and information policy at the Center for American Progress. "Consumers are often unaware, and thus may not report, when they are victimized by online threats such as spyware or phishing. We must take action against these threats to protect consumers and preserve confidence in Internet commerce."
As described in the report, several attorneys general, in particular those in New York and Washington state, brought important cases on behalf of online consumers. New York Attorney General Andrew Cuomo, for example, recently announced groundbreaking settlements with Priceline, Travelocity, and Cingular, which advertised using Direct Revenue, a company that surreptitiously installed adware on consumers' computers. In Washington, meanwhile, Attorney General Rob McKenna reached a recent settlement with the operators of several websites that lured more than 13,000 Washington consumers to divulge personal information that was then sold to third parties.
Despite these successes, however, most attorneys general have not given high priority to online fraud and abuse. Rather, most investigations and prosecutions involving the Internet appear to be focused on sexual enticement of minors and child pornography. Such cases accounted for more than 60 percent of the cases highlighted in 2007 and 2006 by the National Association of Attorneys General in its bimonthly Cybercrime Newsletter, which lists Internet-related cases brought by state attorneys general.
Among other cases highlighted, 8.9 percent involved data security, confidential records, or identity theft and 15.5 percent involved online sales and services, such as failure to deliver on a purchase or failure to provide a product or service that meets advertised quality. This type of crime has clear parallels to fraud conducted in the physical world - the Internet is merely the medium for the transaction.
This is not the case, however, for spyware, adware, spam, and phishing, which represent completely new categories of fraud and abuse. Over 2007 and 2006, the Cybercrime Newsletter highlighted just 14 cases (8.3 percent of the total) brought by state attorneys general in these areas, 10 of which were brought by Washington or New York.
"Online consumers are now at risk," said Ari Schwartz, vice president and chief operating officer at the Center for Democracy and Technology. "Internet crime costs basically nothing to execute, can be highly lucrative, and involves little risk of being caught and punished. We need all 50 state attorneys general focused on this problem. Through committed action and vigorous enforcement, they can provide a powerful and much needed deterrent."
The report recommends that state attorneys general take a number of steps to protect online consumers. In particular, attorneys general should assess the applicability and adequacy of state laws, develop computer forensic capabilities, train investigators and prosecutors to identify Internet fraud and abuse, and devote greater resources to enforcement efforts.
"In New York and Washington, attorneys general have equipped themselves to take on Internet fraud and abuse," Schwartz said. "As a result, they have won a string of important cases. Other state attorneys general should follow their lead and provide online consumers the protection they deserve."
The report can be found online at: http://www.cdt.org/privacy/20080812_ag_consumer_risk.pdf
The Center for Democracy & Technology is a non-profit public interest organization working to keep the Internet open, innovative, and free. With expertise in law, technology, and policy, CDT seeks practical solutions to enhance free expression and privacy in communications technologies. CDT is dedicated to building consensus among all parties interested in the future of the Internet and other new communications media.
The Center for American Progress is a nonpartisan research and educational institute dedicated to promoting a strong, just and free America that ensures opportunity for all. We believe that Americans are bound together by a common commitment to these values and we aspire to ensure that our national policies reflect these values. We work to find progressive and pragmatic solutions to significant domestic and international problems and develop policy proposals that foster a government that is "of the people, by the people, and for the people."


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ING Direct and Macquarie Bank have become the latest banks to sign up to support Apple Pay in Australia. According to the Apple Pay website, support from the banks is “coming soon” and will take the total number of Apple Pay supporting financial institutions in the country to 47. Four of Australia’s largest banks continue to hold out, however, and are continuing their fight with Apple for the right to collectively negotiate with third-party mobile wallet providers
- Contactless transit payments go live in Miami
- Telia tests 5G face recognition payments
- Lojas Americanas opens checkout-free automated convenience stores in Brazil
- Apple rolls out Apple Card, extends 3% cashback offer to third party merchants
- Facebook to partner with banks for WhatsApp payments rollout?


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Reported this week by Veg News is word on a pending retail launch for plant based business Nuggs. The New York based business specialized in pea protein based chicken nuggets and to date has sold direct to consumers online only.
Veg News notes that following the business securing a $7 million investment from food titan McCain in 2019, the plant based nuggets should hit shelves this Spring.
If your desperate to check out the product which is garnering rave reviews, your best best is online for now. Nuggs start at $24.99 for a 25 piece box, dropping to $29.99 for a two pack. Shipping its fee in the US.


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A spokesman for the chain said it’ll sell 30 of those stores in Southern California, with the rest of the 20 locations sprinkled in the other two states, reports the Los Angeles Times.
Those locations “do not meet the criteria of Fresh & Easy’s model of modern convenience,” the spokesman said, while the rest of the 167 total stores will undergo a makeover.
The company is also working with the designers behind the Apple store for a new food convenience store concept.
Fresh & Easy Chief Executive Jeff Keyes announced the news first in a YouTube video, according to CBS Los Angeles, which appears to longer be available.
He reportedly said in the video that the company had identified about 50 locations that “we truly believe are better suited to a a different type of retail,” noting that many of those would be closing in the next few weeks.
Fresh & Easy entered the grocery arena in 2007 as a Tesco brand, before going through bankruptcy proceedings in 2013 and emerging with Yucaipa as its new owner. It shed about 50 stores at that time as well.
The full statement is below:
“Fresh & Easy has spent much of the past year and a half since transitioning to new ownership transforming into a new business focused on delivering a new vision of modern convenience. This transformation was always going to be a challenge but the company has accomplished several major initiatives including a massive renovation project and re-launch in Las Vegas with an all-new fresh food concept. Just this month the company rolled out a new e-commerce Click & Collect service in Las Vegas, which will serve as a test for a wider rollout. Fresh & Easy has also put innovation at the forefront of the transformation of its food manufacturing business, building a successful third-party business model out of its Riverside commissary facilities.
The company is now in a better position to rationalize its store base and divest locations that do not meet the criteria of Fresh & Easy’s model of modern convenience. This move allows the company to redeploy capital into development and growth, including a 3,000 to 5,000 square foot store to provide a higher level of convenience and greater density. Fresh & Easy is also working with ADMI, the innovative firm behind the design of the Apple Store, to design the Fresh & Easy store of the future – a concept that the company believes represents the future of convenience retail and puts Fresh & Easy into a category of one: the only fresh food convenience store.”
Fresh & Easy Announces Closure Of 50 Locations; 30 In Southland [CBS Los Angeles]
Fresh & Easy closing more stores: Where they are in Southern California [Los Angeles Times]


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The local cotton market remained sluggish on Tuesday, as traders remained on the sidelines in the absence of demand from importers, brokers said.
The Karachi Cotton Association reported that traders bought just 200 bales from the ginners at the conditional price of 5,600.maund.
The Karachi Cotton Association maintained the official spot rate at the previous level of 5,500/maund.
Brokers said the demand for the cotton yarn in the domestic market remains subdued. Spinners and exporters are on the sidelines, especially in the absence of fresh triggers.
They also said the market is behaving on a very cautious note despite the proposed farm input subsidies and indicative cotton support prices by the government for the next fiscal year.


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28 February 2017
28 February 2017
French system supplier, Vision Systems has further expanded its international presence through a new strategic location, Dubai, to facilitate trade development opportunities in the Middle East, in all of Vision Systems’ market segments: aeronautics, land transport, railway and marine.
According to Vision Systems, it already has a technical trade office in Singapore to assert its presence in South-East Asia, as well as a production and sales subsidiary in Florida, US to bring the company in closer contact with the major players of the American business aviation industry. Moreover, a global network of sales agents represents the company all over the world
“It became obvious for Vision Systems, as an architect of innovations, to gain a foothold in the United Arab Emirates and most particularly in Dubai, one of the greatest innovation arena in the world. The opening of a technical commercial office in Dubai, Vision Systems Middle East, will allow the group, through the physical presence of our newly recruited Regional Sales Director, Bachir Boussebissi, to increase responsiveness and have a better appreciation of trade negotiations locally,” stated Catherine Robin, Executive Vice President & Business Development.
Visions Systems says that several Middle Eastern contacts have already shown a strong interest for its solutions, most particularly airlines and yacht designers for Electronically Dimmable Windows (EDWs).
Composites UK reports that its members are supporting the new 2018-2021 Safety in Manufacturing Plastics and Composites strategy (SIMPLC).
ZSK will hold its bi-annual technology showcase on 21-22 September 2018 at its Krefeld, Germany, headquarters. The Embroidery Technology Show assembles more than 25 exhibitors from around the world to discuss emerging trends in the embroidery manufacturing industry and demonstrate the latest products produced using techniques such as tailored fibre placement (TFP) or smart textiles.
Solvay has signed a ten-year agreement for the supply of composites and adhesives to be used across Bell's military and commercial rotorcraft programmes, including the Bell 429, 407, 505, 525, V-22, and UH-1.


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British fashion designer Giles Deacon, who took over as creative head of Emanuel Ungaro last year, is to leave the couture house, the company has said.
"Emanuel Ungaro SAS and Giles Deacon have mutually decided to end their collaboration," the fashion house said in a statement, 10 days before the start of Paris Fashion Week.
In two seasons as chief designer at Ungaro, Deacon showcased a garden party look for Spring-Summer 2011 that was all flowers and lacework, followed by a rebellious, sexy Parisian style for his Autumn-Winter collection last March.
The fashion house did not immediately announce the name of Deacon's successor, but chief executive Jeffry M Aronsson said "the creative process for executing our strategy is largely in place".
"Emanuel Ungaro embodies a very rich and distinct DNA which the company will deliver with a modern spirit," he said.
Ungaro has seen a merry-go-round of designers come and go since Emanuel Ungaro hung up his scissors in 2005, including a stint by Hollywood bad girl Lindsay Lohan in 2009 which the couturier slammed as a "disaster".


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Amazon cancels mandatory pricing terms
A number of foreign media reports, yesterday, Amazon quietly canceled a clause in the agreement with the seller, no longer require third-party sellers to sell products on Amazon lower than the price of the same products sold in other channels. Critics say the clause is anti-competitive.
Price parity agreement, or MFNs, have been used by Amazon in contracts with third-party sellers to ensure that sellers selling products on the platform will not be on any other platform, such as eBay or Alibaba. Sell the same product at a lower price.
Amazon confirmed this policy change, but declined to comment.
US authorities will continue to crack down on monopolistic behavior
A few years ago, German and British regulators investigated this practice, and monitoring threats or upcoming investigations may be the reason why Amazon has abandoned MFNs in the United States. In December last year, Senator Richard Blumenthal sent a letter to the US Department of Justice and the Federal Trade Commission, requesting an investigation into these anti-competition clauses in the Amazon contract. Investigate how they affect the price consumers pay for goods.
“Either in the short or long term, Amazon’s price-balanced terms may increase consumer prices,” he wrote in the letter. “It’s related to the fact that Amazon’s price-balancing provisions may prevent more efficient electricity. With the advent of business platforms, these platforms may offer consumers lower prices.”
On Monday, Blumenthal said in a statement: “Amazon made this sensible and popular decision after vigorously promoting and paying attention to the contract terms that forced Amazon to abandon abuse. I am still deeply disturbed by the responsibility. Federal regulators fighting anti-competitive behavior seem to be negligent, causing huge losses to US innovation and consumers.”
“The US Department of `Justice, the Department of `Justice, the United States, the United States, the United States, the Trade Commission, the Commission, must begin to actively investigate the potential monopolistic behavior of large technology companies, and take necessary enforcement actions to curb more harmful behavior,” Blumenthal said. .


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JUST hours after Bangkok Metropolitan Administration (BMA) issued a Covid-19 regulation forbidding dining at restaurants in the capital from 7 p.m. to 6 a.m. starting tomorrow, Jan. 5, Prime Minister Prayut Chan-o-cha ordered that this regulation be cancelled and the curb start after 9 p.m., Sanook.com reported late afternoon.
Gen. Prayut said he had received a proposal from the Restaurant Association and issued this order after studying it because the government did not want business to be impacted.
However restaurants have to follow measures previously in place including limiting the number of diners, maintaining social distance, which the head of the association assured restaurants would follow.
However the Prime Minister’s action is fairly confusing for both the general public and entrepreneurs because earlier in the day BMA’s spokesman Pol. Capt. Pongsakorn Kwanmuang had announced that the Bangkok Communicable Disease Committee meeting had passed a resolution that all types of restaurants only offer take-away service from 7 p.m. to 6 a.m. starting tomorrow.
Top: Prime Minister Prayut announcing his decision today. Thai headline says, “Doesn’t want business to be affected.” Photo: Sanook.com


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It looks like Dell is expanding the Alienware brand. First there was the OptX AW2210 monitor and now the TactX Headset. Judging by the specs of 16 Hz – 16kHz and -38 dB, it’s your standard gaming headset. That doesn’t mean there aren’t a couple of cool features.
First off the mic is retractable so it’s not sticking out when you’re playing solo. Also, the cord is only three feet long, but it also ships with a 7 foot extension just in case. Expect to pay $79 for the headset and it’s shipping right now from Dell.


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Shares of Tesla Inc. TSLA, +1.29% fell nearly 5% late Wednesday after the Silicon Valley car maker reported a wider-than-expected adjusted loss for the third quarter. Tesla said it lost $671.4 million, or $3.70 a share, in the quarter, versus earnings of $30 million, or 15 cents a share in the third quarter of 2016. Adjusted for one-time items, Tesla lost $2.92 a share in the quarter, versus a profit of 71 cents a share a year ago. Revenue rose to $2.98 billion, from $2.79 billion a year ago. Analysts polled by FactSet had expected an adjusted loss of $2.31 a share on sales of $2.95 billion. Shares had ended the regular trading session down 3.2%. "Demand for Model 3 is not going to be a constraint for quite a long time," the company said in its letter to investors. Model 3 production is "steadily increasing," it said.
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Christmas in Bute Park is a new illumination event due to take place this festive season in Cardiff.
It will take visitors on a magical tour of festive delight around one of the capital city’s most beloved landmarks and through the biggest Christmas lights trail Wales has ever seen.
Tickets go on sale for the event this Wednesday (August 18) at 9am, and the event runs from November 25, right through until, and including, New Year’s Eve.
You can save the link to buy the tickets here.
Tickets will cost £18 for adults, £13 for children and £55 for familes (four people).
From late November the park will be taken over by laser shows, an enchanting fairy tree avenue, a mesmerising lily pond, flickering fire sculptures, spectacular mirror ball displays, huge illuminated trees and much more.
Culminating in a special ‘Sea of Light’ installation by Ithaca Studio, who have created stunning displays for Kew Gardens, Blenheim Palace, and Glastonbury festival, the event is set to bring some much-needed festive cheer to Welsh shoppers and visitors alike this winter.
Christmas at Bute Park is expecting to welcome around 95,000 visitors over a five-week period. As well as spectacular light displays, the 1.4km route will also take in a special ‘fire garden’, a traditional Christmas fun fair and locally-produced street food and drink stalls too.
Visitors will have the option to visit during a number of different time slots running each night from November 25 right through until, and including, New Year’s Eve. . The event is fully accessible to those with wheelchairs and prams, aiming to offer an inclusive celebration of Christmas for all the family.
All slots will be held outdoors and run on a timed basis to ensure the safety of all those attending.
To get the latest What's On email updates from WalesOnline, click here


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Acquisition bolsters firm’s revenues, pipeline, and U.S. presence.
Eisai is willing to shell out $3.9 billion to buy MGI Pharma. The transaction will significantly pad the company’s oncology business as well as its position in the U.S. market.
Under the all-cash definitive merger agreement, Eisai will pay $41 per MGI share. The price represents a 25.5% premium over MGI’s closing price on Friday, December 7.
Faced with patent expiration of its cash cow, the purchase of MGI Pharma bolsters Japan-based Eisai’s position in the U.S. market. The company’s lead product, Aricept, an Alzheimer’s treatment, is expected to lose patent protection in 2010. MGI brings with it five approved therapies, which together had sales of $283.34 million during the nine-month period ended September 30.
MGI also has an end-stage heavy cancer pipeline. It has one product under regulatory review for the treatment of postoperation nausea and vomiting, five candidates in Phase III trials, one in Phase II, and one in Phase I. The deal thus gives Eisai plenty of R&D potential in the U.S., where it is currently building a 65,000 sq. ft. facility.
In fact, this is the third transaction Eisai has entered to reinforce its pipeline and international foothold. In March, the company paid $325 million to take over Morphotek, thus adding biologics to its pipeline. Last year, Eisai bought four oncology products from Ligand Pharmaceuticals for $205 million.
The acquisition is expected to be completed during the first quarter of 2008. Eisai anticipates that the transaction will then be accretive to its cash EPS in fiscal year 2008 and GAAP EPS in fiscal 2009.


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After nearly three years in business, contemporary fashion label Trademark will restructure the company to focus on its high-performing accessories category—which includes shoes, bags, and jewelry—and end the manufacturing of apparel. Sisters Louisa and Pookie Burch founded the young brand, known for its high-quality wardrobe staples, back in 2013; it will now be placing more attention on its growing e-commerce business.
Louisa tells to WWD that the fashion calendar can be a lot for a small business to handle and cites this as one of the reasons for putting an end to the clothing category. "When my sister Pookie and I started Trademark, it was with the idea of creating timeless designs with the highest level of craftsmanship, tailored to today’s market. By channeling our energy into accessories, we will be able to expand on our best-performing category. This move will also allow us to be more agile as a company, not relying on the constraints of showing on the fashion calendar, which is strenuous on small businesses," she explains. WWD reports that come 2017, Trademark will officially discontinue its signature sportswear collection, shut down its 95 Grand Street flagship in NYC, and solely become a line of shoes, bags, and jewelry.
Keep scrolling to shop our favorite Trademark picks from the spring line to buy before they're gone.
Are you sad to see Trademark's clothing line gone? Tell us in the comments!


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New York Post: “The New York Times is poised to stop charging readers for online access to its Op-Ed columnists and other content, The Post has learned. After much internal debate, Times executives – including publisher Arthur Sulzberger Jr. – made the decision to end the subscription-only TimesSelect service but have yet to make an official announcement, according to a source briefed on the matter.”
Now don’t you feel like a sucker for signing up for TimesSelect?
© 2007, Edward Champion. All rights reserved.


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Asharqia Chamber Hosts Greek business delegation
Asharqia Chamber's Board of Directors member Faisal Al Quraishi confirmed that Greek products have an important place in the Saudi market, due to the strong business relations between the two countries.
He said that the Kingdom has great business relationships with Greece, adding that there is potential to further enhance trade and economic relations between the two countries. He stressed the importance of mutual visits of more trade missions which benefit companies in the two countries
This was during the meeting with Greek business delegation on Monday, April 15, 2013 in the presence of Secretary General of the Chamber Abdulrahman bin Abdullah Al Wabel.


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In 2020, half of all phishing emails used Microsoft Office-themed content to lure in unsuspecting victims and swipe their credentials, according to a Tuesday report by Cofense. The company analyzed millions of attack-related emails and concluded that 57% of the mails were phishing emails with the intent to steal credentials, while the rest were used for planting malware in the user’s systems or as business email compromise (BEC) attacks.
Cofense researchers said that 45% of those phishing emails were Microsoft themed as they were banking on the increase in organizations migrating to Office 365. “With the number of organizations migrating to Office 365, targeting these credentials allows the threat actor to gain access to the organization as a legitimate user to go undetected,” the researchers from the company told Threatpost. They further went on to recommend the use of multi-factor authentication (MFA) to secure Microsoft Office logins.
The researchers also said that apart from Microsoft products and solutions that tie-in with Microsoft, other company names have also been used to lure in victims. “Other popular brands we observed asking for credentials were other various cloud hosting services such as Adobe, Dropbox, Box, DocuSign or WeTransfer,” the researchers said.


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Market researcher Canalys said this is an all-time record for smartphone shipments in a single quarter in India. Industry executives also attributed the surge to manufacturers pushing shipments in September since India increased import duty on smartphone display from October.
“Smartphone vendors are definitely bullish,” said Canalys analyst Adwait Mardikar.
“The government, slowly but surely reducing restrictions on movement after a three months lockdown, has created the perfect atmosphere for sustained growth. While almost all vendors have shown positive shipment growth, the true winners are the online channels, who have been buoyed with a huge influx of devices ahead of the festive season,” he said.
Canalys says the festive sales at Amazon and Flipkart are a clear indication that despite the economic downturn, India’s penchant for a good smartphone and a good bargain remains intact.
As per the researcher, Xiaomi remained the market leader, growing 9% to ship 13.1 million units in the July-September period. Samsung regained second place from Vivo, with 10.2 million units, up 7%. Samsung’s aggressive product portfolio and pricing strategy in the low-end paid off
Vivo slipped to the third spot growing 19% to ship 8.8 million smartphones, while Realme breathed down its neck with 8.7 million units shipped. Oppo completed the top five, shipping 6.1 million units.
“Ongoing tension between India and China has been a hot topic in the past few months, but we have yet to see a significant impact on purchase decisions of mass market customers,” said Canalys Research analyst Varun Kannan.
Collectively, Chinese vendors comprised 74% of total smartphone shipments this quarter, which has grown from 76% a year ago. “However, the tensions have caused Chinese smartphone brands to act more conservatively in recent months, reducing their marketing spend, and carefully trying to project the image that they are important contributors to, and stakeholders in, the economic future of India,” said Kannan.
- Front Page
- Pure Politics
- Adani Enterprises FPO Fully Subscribed on Final Day
The ₹20,000-crore follow-on public offering (FPO) of Adani Enterprises Ltd (AEL) was fully subscribed on the final day of the offer Tuesday, January 31, thanks to late demand from family offices, corporates, and foreign investors.How Gautam Adani Lost $75b Market Value but Pulled off $2.5b Issue after Short Attack
It was around 5.30 in the morning last Wednesday when senior Adani officials got the breaking news, hours before the anchor book — the institutional pillar of any issuance — of the ₹20,000-crore ($2.5 billion) follow-on offer (FPO) of Adani Enterprises Ltd was to open.Flipkart Esop Sale: Big PeDay for Nigam, Chari
The cofounders of PhonePe, Sameer Nigam and Rahul Chari, are expected to receive individual cash payouts of $20-25 million by completely liquidating their stock options in erstwhile parent company Flipkart, according to people aware of the development.
ETPrime stories of the day
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New regulations proposed by the federal government would implement fines for Canadian companies that hide security breaches in data.
The new regulations are part of the Digital Privacy Act (also known as Bill S-4), which amended the Personal Information Protection and Electronic Documents Act (PIPEDA). The proposed data breach requirements would make it mandatory for companies to comply with specific reporting standards, as well as assess the level of harm to the individual by the breach in data security. Currently, depending on provincial regulation, it is not required for companies to disclose this information.
The fines for the proposed regulations would vary depending on the type of and severity of the breach, with fines up to $10,000 for a summary offence and up to $100,000 for an indictable offence.
Members should stay aware of the situation as it progresses. Currently no new regulations have been passed but it is something to bear in mind with subscriber data.


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Interested in learning what's next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Learn more.
(Reuters) — The CEOs of Amazon, Apple, Alphabet’s Google, and Facebook will appear before a U.S. House of Representatives panel on July 27, the committee said in a statement on Monday.
Amazon’s Jeff Bezos, Facebook’s Mark Zuckerberg, Google’s Sundar Pichai and Apple’s Tim Cook will appear before the House Judiciary Antitrust Subcommittee as part of its probe into the companies, the statement said.
They will be allowed to appear virtually.
“As we have said from the start, their testimony is essential for us to complete this investigation,” Jerrold Nadler, the House judiciary panel chair, and David Cicilline, the House antitrust subcommittee chair, said in a statement.
Earlier this month, Reuters reported the big four tech platforms’ heads would testify before U.S. Congress. Lawmakers are expected to release a report on their antitrust investigation in the coming weeks.
The U.S. Justice Department is also probing the big four tech platforms. And Facebook and Amazon are facing inquiries by the Federal Trade Commission, while U.S. states attorneys general are looking at Facebook and Google.
(Reporting by Makini Brice, editing by Mohammad Zargham and Tom Brown.)
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.


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INVESTOR ALERT - FedEx Corporation (FDX) - Bronstein, Gewirtz & Grossman, LLC Announces Class Action and Lead Deadline: August 26, 2019
NEW YORK, NY / ACCESSWIRE / July 9, 2019 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against of FedEx Corporation ("FedEx" or the "Company") (NYSE: FDX). and certain of its officers, on behalf of shareholders who purchased or otherwise acquired FedEx securities from September 19, 2017 through December 18, 2018, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/fdx.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
FedEx is a global logistics company that ships goods to commercial and residential customers throughout the world.
In July 2016, FedEx significantly expanded its international operations through its $4.8 billion acquisition of TNT Express N.V. ("TNT"), a Netherlands-based logistics company with operations concentrated in Europe. To date, this has been the largest acquisition in FedEx history. This acquisition instantly added billions of dollars of European revenues to FedEx's top line and increased the Company's international revenue mix from 24% in fiscal year 2016 to 33% in fiscal year 2017.
After the acquisition closed, FedEx embarked on an aggressive strategy to integrate it's legacy European operations with TNT. On March 31, 2017, nine months after completing the acquisition, FedEx issued a three-year operating income improvement target for investors to gauge and track the purported benefits of the TNT acquisition and FedEx's integration efforts. Specifically, the Company stated that, in fiscal year 2020, its integration with TNT would result in a $1.2 billion to $1.5 billion operating income improvement above its fiscal year 2017 reported operating income (the "TNT Income Improvement Target").
On June 27, 2017, however, TNT's operations were crippled by a cyber attack known as NotPetya, which involved the spread of a malware virus throughout TNT's systems (the "Cyberattack"). NotPetya is considered one of the largest cyber attacks in history, having affected a multitude of companies on a global scale. The timing of the attack was particularly problematic for FedEx, as TNT's systems were paralyzed during the critical period involving the integration of TNT with the Company's legacy European operations.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) TNT's overall package volume growth was slowing as TNT's large customers permanently took their business to competitors after the Cyberattack; (ii) as a result of the customer attrition, TNT was experiencing an increased shift in product mix from higher-margin parcel services to lower-margin freight services; (iii) the anticipated costs and timeframe to integrate and restore the TNT network were significantly larger and longer than disclosed; (iv) FedEx was not on track to achieve the TNT Income Improvement Target; and (v) as a result of these undisclosed negative trends and cost issues, FedEx's positive statements about TNT's recovery from the Cyberattack, integration into FedEx's legacy operations, customer mix, customer service levels, profitability, and prospects lacked a reasonable basis.
The Class Period starts on September 19, 2017, when FedEx reported that the Cyberattack had negatively impacted its first quarter 2018 results (ended August 30, 2017). During the related earnings call, however, Defendants assured investors that all critical TNT systems were fully restored and fixes to its customer-specific systems were expected to be finalized by the end of September 2017. Company executives also reaffirmed the TNT Income Improvement Target. Analysts maintained their ratings and price targets on FedEx stock due to the Company's assurances about its recovery from the Cyberattack. On this news, FedEx stock increased $4.50 per share, or roughly 2.1%, to close at $220.50 per share on September 20, 2017.
The truth about TNT's deteriorating business was revealed through a series of disclosures. While making these disclosures, however, Defendants continued to assure investors that FedEx would still meet the TNT Income Improvement Target and that TNT had successfully recovered in the wake of the Cyberattack.
On June 19, 2018, FedEx provided a disappointing capital expenditure outlook for its FedEx Express segment, the reporting segment that includes TNT's results, and reported higher-than-expected TNT integration expenses. On this news, FedEx shares dropped $6.96 per share, or 2.69%, to close at $251.43 per share on June 20, 2018. Despite these issues, Defendants assured investors that the Company was "on track" to meet the TNT Income Improvement Target and that TNT's year-over-year growth had resumed.
On September 17, 2018, FedEx reported lower-than-expected earnings for its first quarter ended August 30, 2018. The Company partially attributed these results to higher-than-expected TNT integration costs. On this news, FedEx stock dropped $14.15 per share, or 5.5%, to close at $241.58 per share on September 18, 2018. Defendants, however, again assured investors that the Company was on track to meet the TNT Income Improvement Target, and touted that the Company's "strong international volume growth reflect[ed] [FedEx's] recovery from the TNT cyberattack."
On December 7, 2018, FedEx announced that David L. Cunningham would retire as FedEx Express' President and Chief Executive Officer ("CEO") on December 31, 2018. Analysts immediately suggested that Cunningham's "retirement" was a result of performance issues within the Company's FedEx Express segment. On this news, FedEx stock dropped $13.67 per share, or roughly 6.4%, to close at $201.39 per share on December 7, 2018.
The full extent of TNT's deteriorating business was revealed to investors on December 18, 2018, after the close of trading. On that date, FedEx reported a large profit miss for its second fiscal quarter ended November 30, 2018. Defendants attributed the disappointing results to lower package volumes in Europe and a negative shift in TNT's product mix to lower margin freight business following the Cyberattack, which had occurred well over a year ago. The Company also lowered its fiscal 2019 earnings guidance and announced that the TNT Income Improvement Target would no longer be achievable by fiscal year 2020. On this news, FedEx stock dropped $22.50 per share, or roughly 12.2%, to close at $162.51 per share on December 19, 2018.
If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/fdx or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in FedEx you have until August 26, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
View source version on accesswire.com:


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Cargotec has entered into an agreement to acquire the Effer truck-mounted cranes business from Bologna, Italy-based CTE Group for €50M. The business will be added to Cargotec’s Hiab business unit portfolio
CTE Group has owned Effer since 2005.
With the acquisition of Effer, Hiab will complement its loader cranes portfolio and expand its range of heavy cranes, in particular in the >100 tonnes segment, in which Effer is recognised as a global leader. Other Hiab crane brands include Loglift and Jonsered forestry and recycling cranes, as well as Argos loader cranes in Brazil.
Effer will continue to operate as part of Hiab under its own brand name and through its dealer network.
"I am happy to welcome Effer to the Hiab family," said Roland Sundén, President of Hiab. "This acquisition is a bold step in line with our growth strategy to be the global leader in on-road load handling and in particular in loader cranes, the industry that Hiab founded nearly 75 years ago."
Effer has over 50 years’ experience in developing and manufacturing knuckle-boom cranes, with its product range encompassing truck cranes from 3t to 300t lifting capacity, special application truck cranes, and marine cranes.
Distribution is managed through a network of more than 100 dealers covering 60 countries globally. Effer’s sales in 2017 totalled €71M and generated an operating profit of around €6.1M. The company has around 400 employees.
"Through its size and global scale, Hiab offers optimal opportunities for continued growth for Effer and I am delighted that we are becoming part of an organisation with an equally proud past, passion for quality and reliability, and drive for innovation", said Lorenzo Cipriani, CEO of Effer.


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Juul Labs introduced on Tuesday that it had agreed to settle about 5,000 lawsuits in a Northern California courtroom case for an undisclosed sum, resolving another authorized battle over its sale and advertising and marketing of e-cigarettes blamed for the teenage vaping disaster.
The proposed settlement on the multidistrict litigation would wrap up private harm, client class motion, authorities and Native American tribe instances in a deal that the corporate stated it had secured an funding to fund.
“These settlements characterize a serious step towards strengthening Juul Labs’ operations and securing the corporate’s path ahead to meet its mission to transition grownup people who smoke away from flamable cigarettes whereas combating underage use,” an organization spokesman stated in an announcement.
In September, the corporate settled an investigation by three dozen states for $438.5 million. That investigation targeted on the corporate’s early advertising and marketing of its merchandise, together with using younger fashions and the sale of flavors like mango and crème brûlée that many contended had been intentionally geared toward underage youths. That settlement set phrases for Juul’s advertising and marketing that prohibited the corporate from concentrating on younger individuals.
Juul has repeatedly denied concentrating on minors, and in different rounds of settlements the corporate has not admitted wrongdoing in reaching agreements with the plaintiffs. The most recent settlement doesn’t finish claims in opposition to Altria, which owned a 35 p.c stake in Juul, in line with attorneys for the plaintiffs. The settlement doesn’t supply funds instantly however will open up a claims course of.
“The scope of those fits is big,” Sarah R. London, a co-lead counsel for the plaintiffs, stated in an announcement. “These settlements will put significant compensation in fingers of victims and their households, get actual funds to varsities for abatement applications, and assist authorities and tribal entities forestall youth use of e-cigarettes throughout the U.S.”
The corporate continues to be awaiting a call by the Meals and Drug Administration over everlasting authorization on the market of its vaping units and pods. In June, the company denied the corporate’s utility to permit its e-cigarettes to stay available on the market. Juul obtained a brief courtroom reprieve, after which the F.D.A. put its resolution on maintain for additional evaluate, which is constant.
Juul stated the settlement reached on Tuesday concerned about 10,000 plaintiffs, lots of whom claimed they’d not been conscious that the product could possibly be extra addictive than cigarettes. The plaintiffs, which included faculty districts, additionally argued that the e-cigarettes had been unreasonably harmful due to their attractiveness to younger individuals. They made a variety of claims, from racketeering to fraud and unjust enrichment.
Meredith Berkman, a co-founder of Mother and father In opposition to Vaping E-Cigarettes, stated she hoped the settlement was giant sufficient “to compensate hundreds of thousands of American households whose lives have been upended by the youth vaping epidemic created by Juul.” The group just isn’t a plaintiff on this multidistrict litigation.
She stated she was troubled by the shortage of particulars initially launched by Juul and hoped the decide overseeing the litigation would require Juul to supply paperwork displaying whether or not the corporate had intentionally focused adolescents.


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Earlier, in the same case, police had arrested George on May 1 for allegedly making a communal speech against Muslims while addressing the 'Ananthapuri Hindu Maha Sammelanam' on April 29. However, he was given bail on the same day itself.
The 70-year-old former MLA had sparked off a controversy by asking non-Muslims in Kerala to avoid eating at restaurants run by the community.
Subsequently, on May 10, another case was registered against him at Palarivattom police station in Ernakulam on charges of hate speech related to another event here. He was arrested on May 25 for violating the bail conditions in the Thiruvananthapuram hate speech case.
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Samsung unveils new Galaxy Buds+ wireless earbuds with upgraded battery life, improved audio quality, and Spotify integration.
Recent Samsung Stories
Samsung just aired an official commercial for the Galaxy Z Flip during the Academy Awards just days before. the official launch.
Samsung's new generation of Galaxy devices are almost here, and the company just revealed the release date of the new devices ahead of the official launch.
Samsung reported this week that it earned a profit of $6 billion on revenues of $50 billion in the quarter ending December 31.
Samsung is bringing 5G connectivity to tablets with a new version of the Galaxy Tab S6 that is only being sold in South Korea.
Samsung's next-gen foldable phone, the Galaxy Z Flip, is almost here, and this is our first look at the official renders of the device.
Samsung announces major restructuring of its organisation, introduces new head for its smartphone business ahead of Galaxy S20 launch.
And yes, Samsung’s next line of flagship handsets will be branded as the Galaxy S20, and not as the Galaxy S11. Because 2020.
Samsung president and CEO Koh Dong-jin said at CES this week that Samsung has sold 400,000 to 500,000 Galaxy Folds.
A leaked Samsung promotional video shows that the smartphone giant will launch new Galaxy flagships in early February.
Confirming recent rumors, Samsung today officially unveiled the more affordable Galaxy S10 Lite and Note10 Lite.
Samsung announced today that it sold nearly 7 million 5G-capable Galaxy smartphones in 2019, an impressive figure.
Samsung is working on a new Lite edition device for both the Galaxy S10 and Note10, and details of both the devices have leaked ahead of launch.
This could be our first ever look at Samsung's next-gen Galaxy Fold, featuring a clamshell design and maybe a 108MP camera.
After Apple introduced major upgrades to the iPhone camera this year, Samsung plans to hit back with the upcoming Galaxy S11's 108MP camera sensor.
Samsung's new PlayGalaxy Link app lets you stream games on your Galayx phone from your PC even on the go.
Samsung reveals new form factor concept for foldable smartphones, teasing the company's potential design for its next Galaxy Fold.
Samsung's new Exynos processor is much more powerful, with 20% increase in performance, a built-in 120Hz refresh-rate display driver, and a separate modem for 5G.
Samsung starts rolling out fix for critical fingerprint issue that allowed anyone to unlock your phone with the help of cheap screen protectors.
One of the first things I noticed when I got my Samsung Galaxy Note 10 was that it shipped with an all-in-one Microsoft Office app.
Samsung reported stronger-than-expected sales of its Galaxy Note 10 lineup ahead of the launch of the Galaxy Fold.
The Samsung Galaxy Note 10+ is one of the very best smartphone flagships of 2019, with high-end specs and an excellent design.
Samsung's Galaxy S10 line is getting a lot of the Note 10 features with new camera features, Samsung DeX and Link to Windows integration, and more as part of a latest update.
Samsung's Galaxy Fold phone is finally launching in the United States on September 27, along with the Galaxy Fold Premier Service.
For the past two and a half weeks, I’ve been using testing a Samsung Galaxy Fit against the Fitbit Charge 3 I normally wear.
One of the more notable aspects of the Samsung Galaxy Note 10 launch was how much that firm is offering on trade-ins.
I’m obviously weeks behind other reviewers when it comes to the Note 10+. So here’s a quick check-in on my experience.


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Sonos is to layoff 12% of its global workforce and close its New York store due to “uncertainty and challenges stemming from the COVID-19 pandemic.” The smart speaker giant will also close six satellite offices, according to a document filed with the with the Securities and Exchange Commission.
My colleagues at What HIFi? report that Sonos CEO, Patrick Spence, will take a 20 percent pay cut from 1st July through to the 30th December while other top executives have agreed to a 20 percent salary hit from July through to September.
“The pandemic and resulting economic impacts have caused us to have to make some hard choices, including reductions to our workforce, and the closure of some of our smaller offices and our storefront in New York City,” Spence told The Verge. “These changes are necessary in order for us to emerge from this period ready to take advantage of opportunities we see in the future.”
In May, Sonos had announced it would undertake a key spending review in an attempt to “tighten” operating costs and “preserve liquidity.”
The company is thought to have around 1450 employees, but there’s no official word on when the process will begin or who will be affected. Sonos estimates the cuts and closures could cost the company up to $30 million.
What HiFi? also rerports that the news prompted rumors that Apple could swoop in and buy the struggling speaker giant. Indeed, a June 22nd report published by investment expert Andrew Left, of Citron Research, claimed that an Apple-led takeover is “likely” and could help Apple gain an advantage over smart speaker rivals Amazon and Google.


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Several performance cars roll into India, but sales still lag
While several performance cars have been launched in India recently, the Indian market seems to have not taken to performance cars in India.
- Just last week we saw the launch of Mercedes-Benz AMG GT-R and the Jaguar F-Type SVR
- Ferrari too launched its cars the GTC4Lusso in India at the start of August
- Sales of performance cars launched in India have not been significant
Several performance cars have been in rolling into the Indian market over the last few months. Just last week we saw the launch of Mercedes-Benz AMG GT-R and AMG GT Roadster, and the Jaguar F-Type SVR Coupe and Convertible in India.
While AMG GT-R and the AMG GT Roadster in India priced at Rs 2.23 crore (ex-showroom India) and Rs 2.19 crore (ex-showroom India), the Jaguar F-Type SVR Coupe was launched at a price of Rs 2.45 crore (ex-showroom) and the Convertible is priced at Rs 2.63 crore (ex-showroom).
Ferrari too launched its cars the GTC4Lusso and the GTCLussoT in India at the start of August. The GTC4Lusso in India priced at Rs 5.20 crore for the V12 engine variant. While the Ferrari GTC4LussoT with the V8 engine is priced at Rs 4.20 crore (ex-showroom).
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The Mercedes-Benz AMG GT-R comes with a massive 4.0-litre V8 Bi-turbo engine that gives out a power of 585 bhp and torque of 700 Nm. It can do 0-100kmph in just 3.6 seconds and has a top speed of 318 kmph.
The Jaguar F-Type SVR comes with a 5.0-litre V8 supercharged engine that dishes out a power of 575 BHP and 700Nm peak torque. This allows the F-Type SVR Coupe achieve 0-100kmph in 3.7 seconds, with a top speed of 322 kmph.
The Ferrari GTC4Lusso comes with the massive 6.2 litre V12 engine which dishes out a power of 681 BHP and 697Nm of peak torque. The car can achieve 0-100kmph in just 3.4 seconds and has a top speed of 335kmph.
These car launches come after the launch of performance cars such as Porsche 911 Turbo S, the Nissan GT-R and Ford Mustang GT launched last year. Even Volkswagen launched Polo GTI at the end of last year.
In just over a year and half the performance cars launched in India have increased significantly. Prior to this the only performance car that could be counted was the Fiat Punto Abarth and this too came with a smaller engine and was cheaper priced.
India has become the fifth largest passenger vehicle market in the world and is expected to become the third largest in the world within the next 3-4 years. The Indian market has grown by 9.20% and came in after China, US, Japan and Germany.
This has made India an attractive market for car makers to launch their high-end performance cars in the country. What is even more appealing to them is the luxury car sales have been seeing a steady growth in India. And luxury car sales in India are expected to gain momentum in 2017 with a greater pace in comparison to 2016, said a Business World report.
While this may be attracting car manufacturers to launch their performance cars in India, the sales of these cars has not been all too impressive till now.
Like with Fiat Punto Abarth, which was one of the most anticipated car launches in the hot-hatch segment in 2015, but failed to register much sales, these performance cars have failed get on the fast track of sales.
For instance, the Nissan GT-R, which was launched in December last year at a price of Rs 1.99 crore (ex-showroom Delhi), just managed to sell 1 car in last eight months, according to data received from the Society of Indian Automobile Manufacturers (SIAM). That too this sale of 1 unit was registered in the month of July 2017, seven months after the launch.
Ford Mustang has fared much better than the Nissan GT-R, but sales still remain to be very low. Ford Mustang has sold 279 units since its launch in India, according to SIAM data.
However, sales have been sporadic with few months of double digit sales and many others with a single digit sales. For instance, in June and July 2017 it sold only 8 units each, and in April and May it sold 9 units each. It sold 45 units in January 2017 and its highest sales during a month has been 59 units in November 2016.
Volkswagen Polo GTI, launched back in November 2016, did not manage to even sell the 99 units that were on offer in India, according to a report by Rushlane.com. It then slashed the price of the Polo GTI by a massive Rs 6 lakh to Rs 19.99 lakh (ex-showroom). It was launched for a price of Rs 25.99 lakh (ex-showroom).
This shows that while performance cars have been driving into the Indian market, they have failed even to even get past the starting line in the country. This could be due to the steep price tag that they come out at in India due to the high taxes that these cars incur.
However, if price is the reason for the poor sales of performance cars in India, sales of them cannot be expected to rise in the future with GST on luxury cars to soon go up further.


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Aequus Pharmaceuticals Inc (CVE:AQS) (OTCQB:AQSZF) (FRA:AEQ) said on Friday that it has agreed to an extension of terms for its promotional service agreement on the Sandoz drug tacrolimus immediate-release (tacrolimus IR), which is used to prevent patient rejection after organ transplants.
The Vancouver-based company said that it has extended its commercial agreement on tacrolimus with Sandoz Canada Inc to December 31, 2021. A trio of drugs including tacrolimus currently form the core of the Canadian company’s business.
In December 2015, Aequus said it began promoting Sandoz’s generic tacrolimus, a transplant therapy which aims to treat and prevent acute rejection following an organ transplant. Tacrolimus has since achieved “over 10x growth” in Canada through increased brand awareness and new patient adoption programs, according to the company.
“We believe there continues to be considerable room for growth over the next 12 months for tacrolimus IR, as we plan continued support for patients and physicians regarding the use of this high-quality and cost-effective alternative to branded tacrolimus,” Aequus Pharmaceuticals CEO Doug Janzen said in a statement.
Janzen said the extension is “particularly meaningful” as it reaffirms Aequus’ commercial capabilities across specialties, “from market access and reimbursement to sales force execution,” which is a key driver of growth in the pharma business.
“Sandoz has been a fantastic partner and while we continue to talk to them about Vistitan and other potential products, this extension allows us to seamlessly continue our efforts on Tacrolimus IR while our Eye Care team focus on the launches of the Evolve products,” added Janzen.
Vistitan, which reduces the pressure inside the eyes of patients with glaucoma was first marketed by the pharma giant Sandoz.
Medicom’s Evolve line of preservative-free, dry-eye products is a preservative-free prescription product for the treatment of open-angle glaucoma.
Contact the author Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive


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Delhi-based EkAnek Networks announced on Monday it has raised Rs 40 crore in its Series A1 investment round. The funding round was led by Alpha Wave Incubation (AWI), a $300 million venture fund managed by Falcon Edge Capital. Existing investors, Matrix Partners India, Sequoia Capital India, and Lightspeed India also participated in the round.
EkAnek Network is the parent company of recently launched beauty and grooming ecommerce startup, Foxy. The company said it will use the freshly raised funds to expand its presence in Abu Dhabi. The Emirate will be the global base for Foxy's international expansion to the GCA, MENA and other regional markets.
Additionally, EkAnek plans to hire and build a team of data scientists, product managers, and engineers in Abu Dhabi. Navroz Udwadia, Cofounder of Falcon Edge Capital, said in a release: "Foxy will offer mobile-first consumers a differentiated approach to supply, curation, and fulfilment of beauty products.
In addition, EkAnek’s unique B2B2C full-stack offering will drive tighter brand relationships with the platforms and consumers to offer consumers globally an unrivalled experience of beauty products.
EkAnek was founded by IIM Ahmedabad alumnus Kartik Sheth, IIT Delhi graduate Sachin Singhal, and IIT Kharagpur graduate Chandranshu in 2018.


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RegTech (Regulatory Technology) is a term used to describe the use of technology to help financial institutions comply with regulatory requirements. The UK government has introduced draft legislation aimed at regulating buy now, pay later (BNPL) firms, which have previously operated with little oversight. In the case of BNPL (Buy Now Pay Later) providers, RegTech is becoming an increasingly important area of focus due to the increasing regulatory scrutiny on this sector.
BNPL providers are essentially offering consumers a loan to make purchases, which means that they are subject to many of the same regulations that traditional lenders must follow. However, because BNPL providers are often newer and more innovative than traditional lenders, they may not have the same level of experience or resources when it comes to compliance.
RegTech solutions can help BNPL providers to ensure that they are complying with all relevant regulations and requirements. For example, RegTech solutions can help BNPL providers to verify the identity of their customers, monitor transactions for potential fraud or money laundering, and ensure that they are providing clear and accurate disclosures to customers about the terms of their loans.
In addition to helping BNPL providers comply with existing regulations, RegTech can also help these companies to stay up to date with changing regulatory requirements. As regulators continue to focus on the BNPL sector, it is likely that new regulations and requirements will be introduced, and RegTech solutions can help BNPL providers to quickly adapt to these changes.
Overall, RegTech is a rising need for BNPL providers because it can help these companies to manage their compliance risks more effectively, reduce their regulatory costs, and ensure that they are providing a safe and transparent service to their customers.
However, as the sector continues to grow, regulators are increasingly looking to provide greater protections for consumers. Currencycloud, a provider of international payment solutions, noted that BNPL firms have operated in a regulatory grey area, but this is changing as regulators seek to introduce legislation to cover the sector. Although the exemption that allowed BNPL firms to operate without authorization from the Financial Conduct Authority (FCA) has given consumers more flexibility in making payments, regulators are concerned about reports of consumers falling into high levels of debt. The UK government is exploring regulations that would put BNPL firms under the full remit of the FCA and give the regulator the power to withdraw firms’ authorization to operate in the UK. The US Consumer Finance Protection Bureau has also expressed concerns about the lack of protections offered by BNPL firms compared to credit card companies. Currencycloud advises that FinTechs operating in this sector must not only keep up with the new regulations, but also comply with payments regulations across all jurisdictions.


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GLOBAL – December 12, 2013 – In anticipation of what will be the largest A-List Hollywood Awards yet, Founding Director Robert Arentz has announced the inclusion of a new Platinum Award. An Award that will be given in recognition of the most successful Agency across all award groups and categories from this year.
Following on from a recent call for entries, the A-List Awards are pleased to present a new award that, Arentz says, “acknowledges the single most successful agency that has created the most outstanding body of work and won the most awards across all categories this year.”
Coming into its third year, the A-List Hollywood Awards are the only creative advertising competition of its kind in Hollywood, honoring creative excellence and innovation. A competition that highlights the link between advertising and entertainment across four award groups and several categories to recognize the best talent in International Commercial, Direction, Production, Editing, Visual Effects, Animation and more.
Apart from the new Platinum Award, the A-List Hollywood Awards announced a brand new judging panel. A panel of industry elite and an impressive group of experts from some of the most recognized advertising and entertainment companies in the world. With its international flavor, including judges from USA, Asia and Europe, it is hard to not be impressed by company names such as Leo Burnett, Universal McCann and Clemenger BBDO.
When asked to comment on the importance of the A-List Awards, panelist John Mescall from McCann Australia, went on to state that “awards shows have two purposes: to reward the remarkable, but even more importantly to show the way forward for our industry. So I’m hoping that we not only get to award some great pieces, but also select a body of work that inspires agencies and clients alike with the possibilities that branded entertainment brings.”
Jae Goodman of Creative Artists Agency Los Angeles added that “while many of the great advertising award shows have embraced the brand work being done at the intersection of marketing and entertainment, the A-List Hollywood Awards were born to celebrate this work.”
Arentz continued, “This year, we have what I believe is the best panel of industry experts to date. It is a true reflection on the importance and perception of our awards to the advertising and entertainment industry. With the caliber of companies and industry names on-board this year, I feel this will be a defining year for the A-List Awards.”
Entries for the A-List Hollywood Awards for Moving Image Advertising and Branded Entertainment are open until Friday 20th December 2013. To learn more information including guidelines, deadlines and fees, visit the A-List Hollywood Awards website.
In photo: John Mescall


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Here's an exclusive look at the pitch deck that Martian, an AI startup that helps developers find the best LLM, used to raise $9 million from investors like NEA and Prosus Ventures
- Martian is an AI startup that helps developers route tasks to different large language models.
- By routing queries to cheaper or free models, it can help businesses save money, its founders said.
- The team raised $9 million in seed funding this fall led by NEA and Prosus Ventures.
When Etan Ginsberg and Shriyash Upadhyay met for the first time, they both immediately knew they wanted to build something together.
At the time, the two future cofounders were attending the University of Pennsylvania and studying remotely during the height of the pandemic in 2020. They set up a 30-minute meeting because of their shared interest in advancing AI technology and research. Once they took the call, it ended up going on for over three hours, Upadhyay said.
Both of them had been working in natural language processing research, and were trying to figure out what to work on next after they noticed that the number of large language models, or LLMs, available to consumers had skyrocketed in the last year.
That's when they came up with the idea for Martian, a program that figures out which tasks different LLMs are best suited for and then routs the tasks to the correct model.
Now, the company has come out the gate with $9 million in seed funding in a round co-led by NEA and Prosus Ventures. Carya Venture Partners and General Catalyst also participated in the round.
LLMs, the most famous being OpenAI's GPT-4, take in prompts or questions from a user and then spit out the best answer for that query, based on its training data. But the training data varies from model to model, so certain LLMs will produce more helpful or accurate answers to specific queries than other, depending on the task at hand. And LLMs are either proprietary and cost money to buy a license — like GPT-4 and Anthropic's Claude — or open-source, like Meta's LlaMA 2, which is free for anyone to view and use.
Instead of relying on a dedicated AI team to evaluate these LLMs, Martian's API will take these queries and automatically run them through models that are more optimized for those tasks, and oftentimes much less expensive.
Companies often need help evaluating which models are better for which tasks, too. "You often need an entire AI team to go and test and evaluate these models," Ginsburg said.
Martian makes money through usage-based pricing. When customers sign on they will receive $10 in model routing credits, and then any additional queries will cost the price to license that model, plus a 20% fee, according to its website. The team is able to route queries from over 100 models, including all the major closed-source providers like OpenAI or Anthropic, as well as many open-source models.
While there are other startups that evaluate models, like Autumn8, Martian stands out by both assessing models for specific tasks and then sending the task to the right model for the job.
Upadhyay and Ginsberg weren't able to name their customers due to confidentiality, but said they range from small startups to larger enterprise companies.
Martian's investors actually approached them first after hearing about the need for a tool like this from their portfolio companies, said Upadhyay, and Prosus Ventures ended up preemptively funding their seed round. NEA signed on to co-lead the round as well.
Going forward, Ginsberg and Upadhyay hope to attract more enterprise customers and continue their research into AI models to make routing even more efficient and "build more awesome tooling."