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Old Mutual Wealth IPO targeted for early in the new year as it reveals plan to rebrand as 'Quilter'
- Stock market float to form part of four way break-up of Old Mutual's business
- Firm to be split into 'Advice and Wealth Management' and 'Wealth Platforms'
- Asset manager Old Mutual Global Investors' future yet to be determined
Anglo-South African financial services giant Old Mutual has said it is targeting a spin-off and stock market float of its wealth and investments business for 'early 2018' under new brand 'Quilter'.
Old Mutual Wealth will be split into two divisions under the Quilter banner; 'Advice and Wealth Management' and 'Wealth Platforms'.
The former will include financial adviser network Intrinsic, which will be rebranded as Quilter Financial Planning; the multi-asset business, which will become Quilter Investors; and investment manager Quilter Cheviot, which will retain its name.
Old Mutual is targeting a stock market float of its wealth and investments business for 'early 2018' under new brand 'Quilter'.
Wealth Platforms will include the UK platform, which will become 'Quilter Wealth Solutions', and Old Mutual Wealth's international business, which will become 'Quilter International'.
While it may be a new brand for the business, it is far from a new name to the world of finance, with Quilter's origins dating all the way back to 1771.
As part of the break-up, Old Mutual is believed to be looking to sell-off part of asset management business Old Mutual Global Investors.
The company said it is still conducting a review of the fund unit run by veteran fund manager Richard Buxton and has yet to make a final decision on its future.
Media reports have indicated Buxton is considering leading a management buy-out of the business with backing from private equity firms.
OMGI CEO Richard Buxton is reportedly eyeing a buyout of the firm.
FTSE 100 listed Old Mutual first announced plans to break up its vast, sprawling financial services business into four parts in 2016 as it had become too complex to run efficiently given the increased regulatory pressures.
Old Mutual Wealth CEO Paul Feeney commented: 'Having two distinct but complementary segments will help us to continue to deliver good customer outcomes for new and existing customers.'
'We very much look forward to listing in 2018 as Quilter. We believe that we have a compelling investment opportunity as we continue to deliver strong and sustainable returns for shareholders in our own right as a fast-growing, independent and publicly listed company.'
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MIAMI BEACH, Fla. – The more than 1.2 million square feet of exhibit space that makes up the footprint of the 2004 Yacht & Brokerage Show is sold out, with more than 50 yachts on a waiting list, the show’s producers reported in a recent statement.
The 16th annual international show, February 12 – 16, 2004 along the Indian Creek Waterway and Collins Avenue on Miami Beach, will feature more than three-quarters-of-a-billion dollars’ worth of yachts ranging in size from 40 feet up to 150 feet, according to Yachting Promotions, the show’s producer.
After the highly successful Fort Lauderdale International Boat Show, producers of the Yacht & Brokerage Show said they are anticipating big crowds and big sales.
“Right now big ticket items, including large luxury yachts, are in strong demand and selling,” said Andrew Doole, vice president of Yachting Promotions, Inc. “The strengthening economy and positive economic outlook is certainly helping to fuel the growth in the luxury yacht sector.”
The Indian Creek Waterway will showcase over 500 yachts including superyachts, express cruisers, sportfishing boats, family cruisers and ocean-going trawlers ranging in price from $250,000 to over $20 million, reported producers.
The Yacht & Brokerage Show is sponsored by KeyBank USA and INAMAR Recreational Marine Insurance. The show is owned and sponsored by the Florida Yacht Brokers Association and Yachting Promotions, Inc.
- For more of the latest news, click here.

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Last Updated: January 16, 2020
Last Updated: October, 2019
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. Total consumption expenditure is expected to reach nearly US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
Retail market in India is projected to grow from an estimated US$ 672 billion in 2017 to US$ 1,200 billion in 2021F. Online retail sales are forecasted to grow at the rate of 31 per cent year-on-year to reach US$ 32.70 billion in 2018.
India is expected to become the world’s fastest growing e-commerce market, driven by robust investment in the sector and rapid increase in the number of internet users. Various agencies have high expectations about growth of Indian e-commerce markets.
Luxury market of India is expected to grow to US$ 30 billion by the end of 2018 from US$ 23.8 billion 2017 supported by growing exposure of international brands amongst Indian youth and higher purchasing power of the upper class in tier 2 and 3 cities, according to Assocham.
The Indian retail trading has received Foreign Direct Investment (FDI) equity inflows totalling US$ 1.66 billion during April 2000–March 2019, according to the Department of Industrial Policies and Promotion (DIPP).
With the rising need for consumer goods in different sectors including consumer electronics and home appliances, many companies have invested in the Indian retail space in the past few months.
India’s retail sector investments doubled to reach Rs 1,300 crore (US$ 180.18 million) in 2018.
Walmart Investments Cooperative U.A has invested Rs 2.75 billion (US$ 37.68 million) in Wal-Mart India Pvt Ltd.
The Government of India has taken various initiatives to improve the retail industry in India. Some of them are listed below:
E-commerce is expanding steadily in the country. Customers have the ever increasing choice of products at the lowest rates. E-commerce is probably creating the biggest revolution in the retail industry, and this trend would continue in the years to come. India's e-commerce industry is forecasted to reach US$ 53 billion by 2018. Retailers should leverage the digital retail channels (e-commerce), which would enable them to spend less money on real estate while reaching out to more customers in tier-2 and tier-3 cities.
It is projected that by 2021 traditional retail will hold a major share of 75 per cent, organised retail share will reach 18 per cent and e-commerce retail share will reach 7 per cent of the total retail market.
Nevertheless, the long-term outlook for the industry is positive, supported by rising incomes, favourable demographics, entry of foreign players, and increasing urbanisation.
Exchange Rate Used: INR 1 = US$ 0.0159 in FY19.
References: Media Reports, Press Releases, Deloitte report, Department of Industrial Policy and Promotion website, Union Budget 2017–18, Consumer Leads report by FICCI and Deloitte - October 2018
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Last Updated: January 16, 2020
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You can now play The Walking Dead for Switch in its entirety as the rest of the series is now available on Nintendo’s eShop. After lay-offs plagued the release schedule for Switch ports of the popular Telltale games, the entire Clementine saga is now available on Nintendo’s latest consoles. Head below for all the details.
Telltale’s The Walking Dead — a series of games that played a large part in popularizing episodic adventure titles of this nature — was supposed to release on Nintendo Switch as part of a staggered launch schedule starting in August 2018. After the first game in the series made it to the eShop ahead of the final episodes landing on Switch in March of last year, the two games that sat in between were nowhere to be found. While Seasons 2 or 3 were supposed to hit the eShop in late 2018, Telltale tragically shut down and was forced to lay-off all but a small portion of its workforce.
Walking Dead for Switch
Fortunately for fans of the series, Walking Dead creator Robert Kirkman and his Skybound Entertainment company now control the rights to the games. After hiring on a bunch of the former Telltale employees, Skybound is finally completing the previously scheduled work on the Walking Dead for Switch ports. This is just the mainline Clementine story for those curious as the dedicated Michonne standalone narrative is yet to be mentioned for Switch.
Considering how popular and seminal these titles were for gamers and the genre, it is excellent news to see the entire experience alive and well on a growing platform. While many of Telltale’s other assets were scooped up by LGG Entertainment in what appears to be a successful attempt at reviving the studio and its IP, The Walking Dead is controlled by Kirkman’s company — who is also bringing the rest of the series to Steam later this week alongside the new The Walking Dead: Saints & Sinners VR game.
Availability and Pricing
Telltale’s The Walking Dead: Season Two and A New Frontier (Season 3) are now available as digital downloads on the Nintendo eShop at $14.99 each. For those on other platforms, like PS$ and Xbox One, these titles are still readily available on both PSN and even via Microsoft’s Game Pass streaming platform.
FTC: We use income earning auto affiliate links. More.


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Get set for evil strategy gaming, Wii owners! Disgaea maker Nippon Ichi may be making the move to the Nintendo platform soon.
Responding to questions from The Kabushiki Shimbun in Japan, Nippon Ichi CEO Kouichi Kitazumi said "We'll be looking into signing on with Wii in the future."
Earlier in the interview, Katazumi had admitted that his company had not given enough support to Nintendo game machines. "We wanted to sign on and get new fans," he said of Nintendo platforms in general.
Nippon Ichi recently released its first games for the DS in Japan.


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A last-minute UK city break over the summer bank holiday weekend could set travellers back by an extra 22 per cent in the nation's costliest locations, latest research has suggested.
The study, by money.co.uk, investigated the average nightly price of rentals on accommodation booking site Airbnb over the dates and locations where the UK’s biggest events and bank holidays taking place throughout 2021.
The prices were then compared to the corresponding dates of the previous week to reveal which events increase Airbnb prices the most with Halloween weekend in Glasgow seeing prices soar by a staggering 58 per cent.
The three-day summer bank holiday weekend encourages many to embark on a city break, with Airbnb prices in the UK’s biggest cities increasing by an average of six per cent this coming weekend. Liverpool saw prices increase the most, with the nightly fee jumping by 22 per cent.
best-priced bargain breaks were in Sheffield and Birmingham, according to data, where Airbnb prices increase by a mere one per cent.
Five cities with the biggest price increase over the summer bank holiday:
Prices also spiked when demand coincided with special events or occasions.
In the country’s 10 biggest cities, prices rose by six per cent on average for Halloween, but the city which saw the biggest price increase by far was Glasgow, with the average price going up by 58 per cent.
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To save money, avoid staying in Airbnb’s during Christmas weekend, as average rental prices go up by an average of eight per cent, the highest average increase of all bank holidays. Prices increased most notably in Edinburgh with a hike of 18 per cent compared to the previous weekend.
The research also revealed the 10 cities with the biggest price increase over the rest of 2021’s national holidays:
For more stories from where you live, visit InYourArea.


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Last Updated on
Valve has unveiled what it is terming a digital “booklet” in which the future of the brand’s Steam Deck PC handheld is detailed in full on the cusp of its release in Asian markets, such as Hong Kong, South Korea, Japan, and Taiwan.
The completely free 52-page booklet goes into a multitude of details surrounding manufacturing, design, and varied prototypes for the Steam Deck, as well as the brand philosophy behind Valve itself and how Steam came to be.
Most interesting is the firm’s labeling of its Steam Deck and the SteamOS platform as being a “multi-generational product line,” highlighting that these first three main iterations of the device are mere stepping stones for the future.
Thus far, the Steam Deck price is separated into three main tiers, with a $399 base product at 64GB, a $529 256GB version, and a $649 version that has a much better screen and 512GB of storage. The Steam Deck officially launched in late Feb. this year and has since sold around 1.5 million units according to PlayTracker.
Even so, a Steam Deck 2 is already in high demand. It’s not entirely clear what an upgraded Steam Deck could look like, but Valve does note the importance of the system in regards to its future. In its digital Steam Deck booklet, Valve cites it “will build new versions to be even more open and capable than the first version of Steam Deck has been,” proving that its initial product is all but the starting line.
Around 15% of Steam’s total library is currently playable on the system, which amounts to about 4,500 games. And since the device’s rather rocky launch, Valve has upended its messy logistical constraints and announced earlier this month that it will be doubling shipments, ensuring that consumers with current preorders receive their Steam Deck by the end of the year.
Valve has also made a point to keep the Steam Deck software updated consistently, with an OS and client beta debuting several weeks ago. The platform offers a host of interesting PC-based workflows beyond the gaming mold, making it one of the most sought-after handhelds on the market.


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Samsung’s latest ad ‘poking fun’ at Apple while comparing S9 with the iPhone 6: This is the time of the year when the mobile phone company Samsung takes out in order to present a feature of the ad poking fun at Apple. Both mobile phone company Apple and Samsung are caught up and involves in the long-standing courtroom battle at the moment.
This hasn’t prevented the South Korean tech giant from releasing an ad taking potshots at the present of its competitor. This isn’t the first time when Samsung has an ad which will take various digs at the Cupertino-based company.
This company is known for the releasing ads that mock a number of features of the iPhone. When the iPhone X had released, Samsung’s ad was somehow made fun of its notch – something which goes on the latest scenario reportedly.
The new ad goes something like this: a young lady appears in several situations where the ‘slower’ iPhone lets her down while people with Samsung S9 get their work done via the help of the jiffy.
Like, the accessing of the Google Maps on iPhone is display to the terribly slow or getting tickets scanned at an airport counter which also somehow looks like, the awkward.
Now in the ad, it shows that the lady then goes to an Apple store in order to complain and is said by an executive that she required turning off her performance management.
Now it seems like, that obviously, Samsung is trying to hit Apple at the battery slowing fiasco that is being admitted to in December 2017.
The ad ends with the lady is finally ‘being happy’ as she has shifted to a Galaxy S9. The message of the ad being “Upgrade to Galaxy”.
This one is the good and better ads arrive from the Samsung but it doesn’t hide the fact that the mentioned lady also has an iPhone 6.
This ad does have a very hazy ticker in the starting time that mentions due to the unavailability of other iPhone models, the iPhone 6 was used.
This is no less than, that’s what Samsung would like to make their viewers perceived and believe. Though, comparing the iPhone 6 – a phone launched almost around 4 years back – to the Galaxy S9, the new and the latest handset in the market is a bit ‘trying too hard’.
This is also so that, the iPhone 6 runs the latest iOS but still it’s an older smartphone anyway.


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Around four hundred asda workers and members of the GMB union marched defiant through Leeds on 16th October, angry at the company’s plans to sack staff members that hadn’t signed up to contract six by 2nd November. 558 more words
Tags » Retail
WESTBOROUGH, Mass — No more picking up those adult beverages from the store, now they can be at your door in just a few hours… that’s if you’re a BJ’s Wholesale Club member! 177 more words
Despite a renewed focus on the customer experience, retailers are missing the mark on what’s really important to consumers, according to a new survey by Oracle Retail. 553 more words
Christian Dior is the latest brand to become embroiled in controversy in China.
The French luxury house issued an apology on Thursday following a recruitment presentation at Zhejiang Gongshang University in the eastern Chinese city of Hangzhou, where a company employee showed a map of the country that excluded Taiwan, according to posts on Chinese social media platform Weibo. 289 more words
Click and regret: Brits wasting over half a billion pounds every year online on unwanted goods, Gekko finds
A new report – Click and Regret- from marketing agency Gekko has today revealed the shocking waste now involved with online shopping. According to the survey, £641m is the astonishing figure consumers are wasting online every year buying goods they don’t want and failing to return them. 320 more words


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SINGAPORE - Singapore businesses can look forward to greater protection for their investments in China, fewer barriers to investing in China and more access to China's services sector.
This will be the outcome once both countries conclude talks on the review of the current China-Singapore free trade agreement (CSFTA) , targeted for next year.
Minister for Trade and Industry Lim Hng Kiang exchanged letters with his Chinese counterpart, Minister of Commerce Gao Hucheng on Saturday to officially start talks to broaden the scope of the pact first signed in 2008.
"A forward-looking, substantive and comprehensive upgrade of the CSFTA will enhance support for ongoing and future collaborations between Singapore and China," said Mr Lim.
A Ministry of Trade and Industry statement noted that the enhanced CSFTA will "inject new dimensions" and "refresh its relevance" to the business communities in both countries.
It will include a "high-quality" upgrade of the investment chapter, to give investors better protection and "addresss" investment barriers.
Through the upgraded agreement, the two countries will also explore greater cooperation in the services sector, in areas such as legal services and financial services.
New areas such as environment and e-commerce will also be included to keep the CSFTA "abreast of global developments".
The CSFTA was the Chinese government's first such agreement with an Asian country. It has since gone on to sign several FTAs with other countries, some of which are more updated, as they have taken into account current developments, said observers.
Under the current agreement, 95 per cent of Singapore's exports to China are already duty free, while there are no tariffs on all Chinese exports to Singapore.
Singapore and Chinese companies in hospital and selected business services sectors enjoy preferential access in each other's markets. In addition, Chinese companies in the education services sector also enjoy greater access to Singapore.
The business community in Singapore welcomed the upgrade, calling it a "timely move".
"It been nearly seven years since the agreement came into force (in Jan 2009), and the services sector in China has seen an increase in activities (since then)," said Singapore Business Federation chairman SS Teo.
"There could be new forms of investments in these sectors (for our businesses)," he said, adding that there is more room for China to lift market restrictions in the healthcare, education and elder-care sectors.


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American singer, rapper and songwriter, Saweetie has got social media fans buzzing as she releases some stunning new pictures that showcased her curves.
Saweetie is ranked among the best entertainer in the world and she has been consistent in dishing out hit projects for her fans.
The talented singer and songwriter have also been able to capture the hearts of fans with her fashion sense.
Saweetie continued this good form some few hours ago when she shared pictures of herself rocking a bikini.
Fans and top personalities have all taken to the comment session to share their thoughts as they continue to adore the beauty on display.
See pictures below:
In other news, multiple award-winning filmmaker, Mo Abudu has revealed that story about the fall of alleged fraudster Hushpuppi will be released in the next few months.
According to Mo Abudu, her company has been able to struck a deal with an American company to release a story that will be based on Hushpuppi’s lifestyle.
Mo Abudu noted that the action movie will be titled “The Fall of the Billionaire Gucci Master” (Read Details Here).


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An Upper Peninsula man accused of large-scale cigarette trafficking has pleaded guilty in Detroit federal court.
“We need to make sure that e-cigarettes and other nicotine-containing devices are regulated in the best interest of public health,” the governor said.
Electronic cigarettes have surpassed traditional smoking in popularity among teens.
Several students have complained that the school’s “25-feet smoking rule” is not being followed.
Legislation unanimously approved Wednesday would redistribute revenue from taxes on cigarettes
Banning the sale of electronic cigarettes to kids may seem like a no-brainer, yet a number of health advocacy groups oppose legislation that does just that.
CVS Caremark is kicking the habit of selling tobacco products at its more than 7,600 drugstores nationwide as it focuses more on providing health care.
Michigan’s $2-per-pack cigarette tax, 11th-highest in the country, has made the state a target for smuggling, which hurts tax revenues.
The Mount Pleasant school says the policy, “A Breath of Fresh Air,” will eliminate the use of tobacco products indoors or outdoors on campus.
The legislation would make it illegal for any tobacco product to be lit in a vehicle when a person under the age of 18 is inside.


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Jersey Mike’s Day of Giving to benefit Tri-State childhood cancer organization
CINCINNATI (WXIX) - Wednesday is Jersey Mike’s annual Day of Giving where 100% of the sub-shop’s sales will go to Tri-State charities.
This year, Jersey Mike’s 26 Greater Cincinnati locations will donate their sales to CancerFree KIDS.
CancerFree KIDS has helped many patients, including 5-year-old Declan Donovan.
When he was just two years old, Donovan was diagnosed with a rare form of cancer.
He went through 67 weeks of chemo and six weeks of radiation.
Donovan is now 19 months in remission from cancer and his parents credit research from organizations like Cancer Free Kids with helping save their son’s life.
You can support CancerFree KIDS by ordering from Jersey Mike’s in-person or online all day.
Find a Jersey Mike’s location near you here.
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Copyright 2023 WXIX. All rights reserved.


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CTIA, The Wireless Association and its member companies are urging Congress to pass legislation requiring a five-year hiatus on new discriminatory state and local wireless taxes. To achieve this goal, Representatives Zoe Lofgren (D-CA) and Chris Cannon (R-UT) introduced the “Cell Tax Fairness Act” today in the U.S. House of Representatives.
“The wireless sector of the technology industry continues to be an important driver for growth in our nation’s economy. Americans don’t just talk on their wireless phones anymore; they access the Internet, get information, pay bills and use wireless to be more productive at work and other every day activities, ” said Lowell McAdam, CTIA-The Wireless Association® Chairman and Verizon Wireless President and CEO. “With about 15 percent of each customer’s monthly bill already going to taxes and fees, increasing discriminatory and unfair taxes on wireless customers presents a clear and present danger to future growth. Policymakers should roll back taxes on wireless customers.”
According to analysis from a new study that examines trends of taxation on wireless service in the U.S., consumers continue to face a substantial, unfair tax burden, paying over twice the 7.1% rate imposed on other competitive goods and services subject to sales tax. Between 2003 and 2007, taxes and fees on wireless service increased four times faster than taxes on other goods and services.
“Keeping wireless taxes at a fair and reasonable level is critical to growing the economy and making the workforce more productive, efficient and informed,” said Steve Largent, CTIA-The Wireless Association® President and CEO. “We should do everything in our power to remove the roadblocks—such as excessive, discriminatory wireless taxes—that stand in the way of progress, and the Cell
Tax Fairness legislation introduced today in the House is a positive step in the right direction.”
The latest CTIA wireless industry survey released earlier this month revealed that as of year-end 2007 more than 255 million wireless users were recorded in the U.S., roughly 84% of the population. The survey also showed a dramatic increase in SMS, with more than 48 billion messages reported for the month of December 2007 alone—1.6 billion messages per day. This represents an increase of 157% over December 2006. Additionally, a March report issued by the Federal Communications Commission showed that in comparison to other platforms for high-speed internet service, mobile wireless comprised more than 68% of the overall growth in high-speed lines from June 2006 to June 2007.


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ADOTAS — Unsurprisingly, Internet couponing is growing, according to a new survey.
In addition to finding that 34 percent of those surveyed were using coupons more frequently today than they were six months ago, according to Burst Media, nearly 70 percent of respondents would print and redeem an Internet coupon for a product they would be interested in purchasing.
“The use of the Internet as a source for coupons has soared,” Chuck Moran, VP of Marketing for Burst Media, said in a statemtent. “The advantage of Internet coupons over their paper counterparts is that advertisers can more finely target their offers – whether through content, geographic or even behavioral targeting. Additionally, the immediacy and ability to measure performance on the Internet allow marketers to run last minute promotions and react to changing market conditions.”
The survey, which was administered to more than 4,500 women 18 years or older, revealed that although the Sunday newspaper is still the primary source of coupons, there was a substantial increase in the use of the Web for coupons – rising to 16 percent today from 3.8 percent in 2002.
Additionally, the survey found that Internet coupons are particularly effective in attracting consumers’ attention. Three-quarters of women 35-54 years indicated they would print and redeem an Internet coupon – this compares to 62.2 percent of women 18-34 years and 67.7 percent of women 55 years and older.
— Express your opinion, comment below.


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When Tate & Lyle’s allulose line was first launched in 2015, the corporate invested in a advertising and marketing marketing campaign to introduce individuals to the low-calorie pure sweetener.
Abigail Storms, now the worldwide head of sweeteners at Tate & Lyle, informed Advert Age on the time that the purpose of this marketing campaign was to persuade individuals within the meals enterprise that this sweetener — which is 70% as candy as sugar with 90% fewer energy — was for actual.
“While you say low-calorie sugar, notably to an skilled R&D individual, it nearly sounds too good to be true,” she informed Advert Age. “There’s a stage of disbelief, but in addition intrigue and pleasure concerning the prospects.”
Allulose, which is a detailed chemical relative of sugar and has most of the similar bulking and mouthfeel properties, has solely gotten extra interesting over time. As a result of it’s metabolized in a different way than standard sugar, the Meals and Drug Administration dominated in 2019 that it doesn’t have to be included beneath a product’s whole sugars on the Vitamin Information panel.
Six years later, allulose has a whole lot of believers. Since April 2019, there have been 161 new merchandise launched with the sweetener, and lots of extra are in growth. With this speedy spike in recognition, some producers are discovering it tough to get a provide of allulose from Tate & Lyle, with the tight provide being talked about in current earnings calls.
Storms, in a current interview with Meals Dive, stated the corporate is working arduous to satisfy demand.
“This surge is way more excessive than you’d have anticipated,” she stated.
“When you’ve a surge in demand that actually goes up nearly on a weekly foundation, there’s a whole lot of administration of how one can meet that demand.”
International head of sweeteners, Tate & Lyle
Tate & Lyle had anticipated that the ingredient could be in style, Storms stated, and the corporate anticipated the surge to be proper about now. It takes about two years for product growth and reformulation to maneuver from idea to a meals or drink product, she stated — the identical period of time that has elapsed since FDA’s determination on allulose.
And with half of grownup shoppers actively trying to cut back their general sugar consumption, based on a FONA Worldwide report, producers are on the lookout for substitutes that may come as shut as potential to replicating the style and mouthfeel. Plus, with the COVID-19 pandemic altering client attitudes about more healthy consuming, demand for better-for-you meals — typically made with much less sugar — has skyrocketed.
Tate & Lyle’s allulose merchandise, that are marketed beneath the Dolcia Prima model, can be found in two kinds: liquid allulose syrup — used primarly for drinks, ice cream and a few confectionery purposes — and crystalline allulose — used for completed baked merchandise that aren’t fat-based, and tabletop sweeteners. Storms stated the corporate is making extra allulose each month, and is forward of demand for the liquid selection. The problem is assembly demand on the crystalline kind, which is desired due to its manufacturing versatility.
Tate & Lyle is working arduous to extend its manufacturing capability for crystalline allulose, Storms stated. However she famous this has every thing to do with an especially excessive demand for the ingredient and isn’t straight associated to different challenges the meals enterprise as an entire is going through, like growing commodity prices or problem find manufacturing employees.
Storms didn’t point out what Tate & Lyle’s present allulose capability is or how a lot the corporate is making. She stated the corporate has the biggest allulose manufacturing capability on the planet, and there’s one facility in america the place it’s made.
A couple of different producers make allulose, together with Ingredion. All have indicated the recognition of the sweetener has made it tough to satisfy demand.
In a name with buyers following Tate & Lyle’s most up-to-date earnings report in Might, CEO Nick Hampton stated that allulose is changing into more and more extra necessary to the corporate’s enterprise. It’s taking a look at add capability, and he stated the curiosity in allulose helps jumpstart the corporate’s development.
Allulose has appeared in quite a lot of merchandise, however bars are the preferred software, based on Tate & Lyle. The following hottest merchandise embrace candy biscuits and cookies, dairy ice cream and frozen yogurt, chilly cereals, baking components and mixers, and tabletop sweeteners.
Regardless that demand exceeds provide for a few of Tate & Lyle’s allulose sweeteners, Storms stated the corporate remains to be working with new shoppers who’re searching for an allulose-sweetened product or reformulation. Tate & Lyle’s purposes and tech service groups will assist shoppers when it comes to formulation help, however they are going to be open concerning the surge in demand and potential timing points to get merchandise out.
And, Storms stated, Tate & Lyle remains to be investing in constructing consciousness of allulose amongst shoppers, producers and well being care professionals. So the corporate is working to create much more enterprise as time goes on.
Storms stated that there is not quite a bit that may be stated or promised about allulose availability proper now, however she is hopeful that provide will quickly catch up.
“When you’ve a surge in demand that actually goes up nearly on a weekly foundation, there’s a whole lot of administration of how one can meet that demand,” Storms stated. “And that is actually what we’re engaged on as we communicate — to present ourselves that grace of flexibility and skill to satisfy that demand.”


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A cold winter day might have some dreaming of sunnier times with a nice cold lemonade in hand.
This year, however, lemonade will be used as a teaching tool as the Business Centre Nipissing Parry Sound and North Bay and District Chamber of Commerce present Lemonade Day.
“Lemonade Day is an initiative for kids to start, own and operate their own lemonade stand,” Kennedy Horton, the program and events coordinator at the Business Centre said. “There is training that they can participate in and workbooks that they have to complete.”
Registration is open now for children aged nine to 12 and closes April 1. On April 8 there will be lemonade lessons, as a training day, while June 6 will be Lemonade Day. Those who register will receive a backpack with the workbook that outlines the steps needed to start a business.
The process is designed to teach children the steps needed to start a business, setting goals, creating a business plan, forming a budget, finding an investor, saving money and donating a part back to the community.
“The whole idea came from the Young Professionals committee at the Chamber of Commerce and they thought the Business Centre a great partnership to offer this program because we deal with a bunch of entrepreneurs on a day to day basis,” Horton explained. “We thought it would be great to be the first to offer this in Ontario and to offer it to our community.”
There will be a competitive side to Lemonade Day as well. Kids will compete in three categories; best tasting, best stand and young entrepreneur of the year. Best tasting and best stand are awarded locally, while the young entrepreneur of the year is awarded nationally. Whoever wins that distinction will be able to attend the international entrepreneurship conference in Texas.
As for the day itself, Horton says they welcome outside competition.
“The licence that we hold is for the City of North Bay,” she said. “As long as they set up their lemonade stands within the city limits, we have no problem with them coming from outside and putting their lemonade stand in North Bay.”


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Amidst widespread discussion and fear of collecting personal data for ad targeting, one of the leading marketplaces for such audience data has raised a big round of venture funding. New York City-based eXelate today announced a $15 million Series B round led by Menlo Ventures, which included previous investor Carmel Ventures of Israel.
The Wall Street Journal set off a discussion last weekend with a series of articles it called an “investigation [of] the business of spying on Internet users” (not behind the usual WSJ paywall; that page links to all the relevant stories). Probably the most damning thing it described were the vast numbers of cookies assigned to users by commercial web sites without adequate warning, and sometimes without knowledge of the main web site that users were visiting. However, the WSJ conveniently ignored the fact that most behavioral targeting companies’ ultimate goal is not spying; their stated goal is to provide a better advertising experience that is more personalized and valuable. There’s always the chance that data collection could be diverted for nefarious purposes, but “creepy spying” is not a bullet point in the business plan of companies like eXelate.
Sure, users are not out there clamoring for better ads, but they also like free, ad-supported content, and we all know nobody clicks on irrelevant banner ads anymore. Behavioral targeting promises to raise CPMs by finding more likely and desirable purchasers. Today, behavioral targeting is often kind of awkward; after you visit an online clothing or furniture store it seems to follow you around the web, popping up in ad units in the margins of all sorts of sites you visit.
But companies like eXelate say that’s just the beginning. “Most online advertising is stuck and the bottom of the funnel; It’s all performance based where you have people in the market for X and you want to get them to convert,” said Mark Zagorski, eXelate’s chief revenue officer, told me in a recent interview. “That’s the easiest, but I think how we can start moving up the funnel is with different data — demographics, income — stuff that goes beyond intent, because that’s where you want to create awareness.” (For more from that interview and on the general problem of monetizing the social web, see a GigaOM Pro (sub req’d) story I wrote called Social Advertising Models Go Back to the Future.)
eXelate, which has raised $19 million to date, says it has 150 million monthly U.S. uniques and emphasizes its attention to privacy. Meanwhile direct competitor BlueKai (which has directly rebutted the WSJ piece) has raised $34.7 million including a $21 million third round in February.
If you’re totally creeped out by behavioral advertising and would rather avoid it altogether, the best thing for you to do is go to this Network Advertising Initiative page, select all and opt out. You’ll still see ads on the Internet, but they won’t be tailored for you (and it’s possible, according to BlueKai CEO Omar Tawakol, that as a result you will see more and more disruptive ads to make up the difference in lost revenue).


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THUSONG Financial Services (TFS) says it owes its reputation of exceptional customer service to its clients’ loyalty.
The Maseru-based microfinance institution also has branches in Leribe and Mafeteng and provides quick personal loans which can be disbursed within four hours of application.
This micro finance institution was established in 2011 and offers micro loans from as little as M500 up to M30 000 payable from three months up to three years.
TFS managing director, Montoetsane Nchai, told the Lesotho Times this week that his company also prides itself in offering some of the most affordable interest rates in the market.
“Affordability and customer care are our key strengths as an organisation,” Mr Nchai said.
“You can browse through existing micro finance companies and I doubt you can find any one offering cheaper loan interest rates than us. We can offer interests that are as low as seven percent per month.”
He said the company is also well known for its friendly service to clients.
“We have good customer care because we always get positive feedback from our clients. We have not been actively marketing our services to the market since we started except through word-of-mouth recommendations from our satisfied clients.
“So, the majority of our market penetration can be attributed to our exceptional customer service. However, we intend to supplement by engaging in regular marketing through media platforms such as radio, newspapers and social media. We also have a unique advantage of our ability to consolidate or takeover loans held with different service provider for the convenience of our clients. This is significant because other companies out there do not offer such a service.”
Operations manager Tlali Tšoafo said their loans can be applied for using online platforms such as email and WhatsApp for customer convenience.
“We have online application platforms to reduce the costs associated with travelling from remote parts of the country to get to our offices just for an application that can ultimately be rejected.”
Mr Tsoafo said requirements for the loan application include two recent pay slips, three months’ bank statements, employment confirmation and the identity document.
The company’s primary target market is predominantly government employees and corporates which whom they can arrange stop orders.
Although they are currently serving people in formal employment, efforts are being made to include the under banked and unbanked populations, Mr Nchai said.
The company prides itself in understanding the financial legal framework owing to its long-standing experience in the field. Its service provision also aligns with the echoing call for financial inclusion by the Central Bank of Lesotho (CBL) for all and easy access to credit. These of course come as a direct effort to boost small businesses and rescue the seriously ailing economy exacerbated by the effects of Covid-19.


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P90X Founder Tony Horton Sticks to Vegan Diet
The fitness celebrity is drinking vegan protein shakes and has eliminated animal products in the pursuit of ultimate health and wellness.
August 14, 2017
Founder of extreme fitness program P90X Tony Horton has been following a vegan diet for more than two weeks. “I’m in the midst of a little vegan experiment,” Horton announced last week via a video on Instagram. Horton revealed he committed to follow a vegan diet for two weeks but chose to extend his “experiment” indefinitely. “So far so good,” Horton said. “I feel amazing!” The extreme athlete has been using vegan protein powder from fitness food company Shakeology, which he said made transitioning to a vegan diet easier for him. This month, a host of celebrities have announced that they are adopting a vegan diet—including Orange is the New Black star Danielle Brooks, musician Ne-Yo, and reality star Kylie Jenner.


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Remix Sessions Underway Since 2003
Many Genesis fans know that work has been underway since late 2003 to mix the album for re-release in 5.1 Surround Sound. The album's upcoming release as a Super Audio CD has not been a surprise as some pictures of the 5.1 remix sessions have featured the band's engineer working on the project with a Sony Sonoma DSD Digital Workstation.
Latest Details from Genesis Music Web Site
The latest details about the project suggest that the finished product will arrive in music stores in Europe this April. On the Genesis Music web site, we're told this week that "We can now confirm that "The Lamb.... SACD remaster" will be released on 18th April 2005. Engineer Nick Davis has gone to extreme lengths to find, sort and remix the new version from the original Lamb 24 track tapes. The SACD version will come with a new 5.1 SACD mix and a new CD stereo mix."
It sounds like an interesting journey to producing the new edition of this famed album is coming to completion. We'll keep an eye on this upcoming Surround Sound SACD as it nears store shelves this April.


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Martin Howe, CEO of Teq4 states: “After all these years of waiting, just wondering what the future will hold, we’re here.”
The landscape of retail and themed entertainment is already starting to look completely different. Buildings are no longer static, statues can move, experiences are more immersive than ever before. This is all because LED screens now move to match the content that they are displaying-breathing life into what was previously a flat, static landscape. Billboards are no longer stand-alone rectangles; they are tailored, moving configurations of LED. Screens are anthropomorphic, vivid animations have leapt out and become a living, dynamic aspect of the environment around us.
This is all possible because of ScreenTeq™ with Motionflex™, a flexible LED screen technology that can be manipulated into almost any shape and curvature, and programmed to move to match the content that it is displaying.
Teq4 rolled out their very first live demonstration of ScreenTeq with Motionflex at IAAPA Orlando 2019 and it was received incredibly well. They saw lots of visitors coming up with fantastic concepts for how they would use our dynamic LED screen technology right there on the spot, within moments of seeing it for the first time.
With ScreenTeq™ with Motionflex™, Teq4 can build almost any shape or configuration of LED screen, and screens that can move.
“We invite you to embark on this exhilarating journey into the future of screen technology with us,” says Martin Howe, “Come to us with your most daring, bold, concepts and we will bring them to life, pixel by moving pixel.”


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Those of you hoping to see a surprise announcement from Sony that the PlayStation Portable 2 is imminent could be in for a disappointment: an unnamed source claims that it won't be hitting shop shelves until the end of next year.
Despite reports that development kits for the PSP2 are already in the hands of game studios, video game site VG247 quotes an anonymous British source as stating that he has been told "it's coming in late 2011".
The news will come as a blow for those hoping that they might be picking up the as-yet unannounced device as a Christmas gift, and presents gaming rival Nintendo with an opportunity: with the three-dimensional 3DS hand-held due out in the middle of next year and offering vastly improved performance over its predecessor, Nintendo could easily steal a march on the slow-to-release Sony.
Sadly, the source was less forthcoming on solid details. While it's an open secret that Sony will be coming out with a successor to the PSP after the failed attempt at a refresh that was the PSP Go - which ditched the UMD optical drive in favour of download-only games from Sony's PlayStation Network digital distribution service - hard facts as to the specifications and features of the device are difficult to come by, although an unsubstantiated rumour claims that it will be powered by Nvidia's Tegra chipset.
If the rumour proves true, and Sony won't be launching until at least the tail end of next year, meaning it's not just Nintendo that could have cause for celebration. Panasonic, a name not seen in the gaming market since the flop that was the 3DO, could be in with a chance with its MMO-centric Jungle hand-held - providing it can hit the market before Sony's PSP2.


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Vinyl records sustain digital future
Author’s note: This is the piece I pitched to the Miami Herald and DJ Times after our stay in Fort Lauderdale. The Herald said it was too “trade specific” and the Times said it was too “Stanton specific,” so I’m publishing it here so it can see the light of day. Enjoy.
HOLLYWOOD, Fl. — Despite three decades of newer technology, vinyl records are still crackling. In fact, vinyl sales grew last year, doubling to almost two million in the U.S., according to Nielsen Media Research—the highest they’ve been since 1991.
“Though vinyl’s popularity waned with the emergence of cassettes and CDs in the late 1980s, records continue to hold a niche in the music marketplace, especially among audiophiles and DJs,” says Joshua Friedlander, vice president of research for the Recording Industry Association of America (RIAA).
Helping to boost last year’s total is a growing number of teens who prefer the collectible nature and warmer sound of vinyl—comparable to listening to a “live” self-playing piano, as opposed to flat MP3s, which are often forgotten as quickly as they are downloaded.
“There is a whole event that takes place when people put on a vinyl record, almost akin to opening a bottle of wine,” says Tony Rodrigues, vice president of marketing for Stanton Magnetics, one of the world’s largest producers of needle cartridges. “There is the presentation of the artwork, the tactile sense of extracting the record from the sleeve, the smell of vinyl, and the distinctive analog sound. It’s not the same when you push a button to play an MP3.”
The “event” that Rodrigues speaks of has not only made Stanton what it is today, but a renewed interest in vinyl is helping the small Florida company buoy its past as it transitions to the future.
Stanton, established in 1947 as The Pickering Company, is headquartered in Hollywood, a few blocks from the Atlantic. The company employees 66 Floridians, split between the main office and its Riviera Beach manufacturing plant. “Yes, we still manufacture cartridges in the USA,” Rodrigues emphatically tells me. The company is now led by CEO Tim Dorwart.
Under the direction of co-founder Walter Stanton, an accomplished audio engineer and pioneer of early electronics, the company has a history of firsts: first stereo cartridge, first detachable turntable cartridge, first standardized cartridge for jukeboxes, and first low impedance cartridge.
But the “firsts” have slowed in recent decades, as consumers flocked to CDs and MP3s. Still, thanks to stubborn demand for vinyl, Stanton managed to grow during those periods. Its revenues peaked “earlier this decade” Rodrigues says, before professional DJs started shying from turntables for the convenience of and versatility laptops.
While the vice president admits his company didn’t see a “huge increase” in 2008 with the spike of vinyl interest, he says his company is solid thanks continued sales. “We still haven’t seen the huge declines forecasted by industry observers,” he says. “While this happens, the gains made by consumers getting into vinyl more than offset the losses caused by computer DJs.”
Unfortunately for Stanton, vinyl represents only a fraction of total music sales, despite outpacing both MP3 growth and plummeting CD sales last year. “Even with triple digit growth rates, vinyl remains a relatively tiny part of the music market,” says Friedlander, “less than 1 percent of the overall industry vs digital music’s share.”
As a manufacturer of equipment dependent on recorded music, Stanton is very aware of this, as are its primary competitors: Shure of Chicago, and Numark out of Rhode island. So how do you evolve a business founded on a product that is still endeared by many, but will never enjoy the same popularity it once did?
Rodrigues says the answer is found in USB turntables, which his company now manufactures, in addition to supplying the needles that enable them. A double whammy of sorts. “USB turntables meld the experience of vinyl with the portability of digital, allowing music aficionados to migrate their record collection to a computer, while still being able to play vinyl when the occasion permits,” he says. “We see this as a key element to our future growth.”
It’s a clever strategy, one that lets Stanton double dip on “long play” vinyl sales and buy time as it shifts to digital. Granted, the company’s success is still pegged to vinyl this way. But being niche doesn’t mean you can’t grow, as the company has already proved. In fact, retro chic has never been hotter.
© 2009 Blake Snow


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As the year 2013 is coming to an end, the race is on to predict what awaits us in 2014. We asked 40 experts in the field of Digital Marketing from across the globe, to throw some insights on what they believe will be the Future of Marketing in 2014.
Content marketing emerged as a clear winner among the experts.
Jess, SVP – Legacy Marketing Partners stated, “Everything is short format content and visual as well and will continue to be in 2014.”
“More and more Marketers will endorse content marketing to reach out to users. Relevant and useful content will be in demand in 2014.” said Kapil Ohri – Planning Director Ogilvy & Mather
“The last decade and a half saw the birth of two new distinct marketing channels; first Search, then half a decade later Social! 2014 might well indicate the beginning of the Content (marketing) channel – and if that is the case, we are up for an exciting ride the next coming years.” – Dennis R. Mortensen Entrepreneur, Author CEO of Predictive Analytics company.
Read through all the 40 predictions and Have your say on what you think will be the future of marketing in 2014.


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Government-funded, low-cost cell phones are shipping with pre-installed malware aimed at bombing users with unwanted ads, according to researchers.
The UMX U686CL Android-based phone, which is made available to low-income citizens in the U.S. via the Lifeline Assistance Program for $35, uses a “Settings” app that researcher claim is actually a “trojan dropper.” According to Nathan Collier, a researcher at Malwarebytes, its function is to fetch and install other applications or malware.
Unfortunately for those enrolled in Lifeline, the Settings app cannot be removed. That’s because the Settings app is essential and provides user access to the phone’s core settings. As such, if it’s uninstalled, the device becomes unusable.
The code in question is “heavily-obfuscated malware we detect as Android/Trojan.Dropper.Agent.UMX,” Collier wrote in a post on Thursday. He added that its nuts and bolts are nearly identical to another known mobile dropper trojan, which comes in two variants called ALReceiver and ALAJobService.
“The only difference between the…codes are their variable names,” according to the analysis.
At their core, both droppers have an encoded string within the code that, once decoded, reveals a hidden library file named com.android.google.bridge.LibImp.
Once it’s decoded (using Base64 decoding), the library is loaded into memory using DexClassLoader. And after the library is loaded into memory, the dropper fulfills its function by installing another piece of malware – in the case of UMX U686CL, it’s a known malvertising application called HiddenAds.
Collier said that Malwarebytes customers have confirmed that an app called HiddenAds has suddenly appeared on their phones. After installing on a device, periodic full-screen ads will plague the user.
There’s also a second concerning application pre-installed on the phone, dubbed Wireless Update. This also serves a legitimate function, receiving and installing over-the-air OS upgrades for the phone – and it does this automatically. However, it also automatically receives and installs other apps without user consent, Collier warned, making the app questionable at best.
“From the moment you log into the mobile device, Wireless Update starts auto-installing apps,” he noted. “There is no user consent collected to do so, no buttons to click to accept the installs, it just installs apps on its own.”
These apps have so far been malware-free, but the functionality obviously opens the door to potential malware infections down the line, Collier said. And adding to the concern is the fact that Wireless Update’s code is identical to code used by a malware from a shady company called Adups Technology.
“Adups is a China-based company caught collecting user data, creating backdoors for mobile devices and, yes, developing auto-installers,” he said. According to previous research, the Adups app has been seen installing HiddenAds and other trojans on victim devices in the past. And Adups the company has been in hot water before, after Android phone-maker BLU Products admitted to sharing reams of information with it, including the full contents of their users’ text messages, real-time cell tower location data, call and text-message logs, contact lists, and applications used and installed on devices.
Wireless Update can be uninstalled, but users would be left with no security fixes. Collier pointed out that this could be a decent tradeoff.
Who is Responsible?
Looking into how the malware got there to begin with, Collier found only dead ends and a lack of response.
China is where the phones are manufactured, and the dropper app’s code also appears to have been created by Chinese authors: “The more discernible variant of this malware uses Chinese characters for variable names. Therefore, we can assume the origin of this malware is China,” according to the analysis.
This brings up the question of whether the dropper was injected somewhere along the supply chain during the manufacturing process in Asia, unbeknownst to the manufacturer. Google last year reported an uptick in efforts by bad actors to plant potentially harmful applications on Android devices in this way.
“Malicious actors increased their efforts to embed PHAs into the supply chain using two main entry points: New devices sold with pre-installed PHAs and over the air (OTA) updates that bundle legitimate system updates with PHAs,” wrote Google in its Android Security and Privacy Year in Review 2018, released last April. “The developers of pre-installed PHAs only need to deceive the device manufacturer or another company in the supply chain instead of large numbers of users, so it’s easier to achieve large-scale distribution.”
Malwarebytes’ Collier said that he wasn’t able to confirm whether or not the company is aware of the pre-installed malware. As for Wireless Update, presumably the company made the choice to go with the Adups code for this feature, but again — this is not confirmed.
Meanwhile, the phone is a Virgin Mobile-branded phone distributed by Assurance Wireless. Assurance Wireless is a federal Lifeline cell phone service provider, offering eligible customers phones, minutes and data. The phone is available at $35 under the government-funded program.
“We informed Assurance Wireless of our findings and asked them point-blank why a U.S.-funded mobile carrier is selling a mobile device infected with pre-installed malware?” Collier said. “After giving them adequate time to respond, we unfortunately never heard back.”
Threatpost reached out to Assurance Wireless and Virgin Mobile for comment and will update this post with any additional details.
Not a New Issue
Pre-installed malware and unwanted applications are not a new phenomenon, as noted. For instance, in an investigation of malware infections on BLU brand phones, Threatpost found that many phones came pre-installed with malware and also downloaded more malware via a third-party update tool.
Consequences have been significant for some affected device manufacturers, if the malware or unwanted application is knowingly installed. For instance, Lenovo, the Chinese PC giant, came under fire in 2014 for pre-loading the Superfish code. That powered something called VisualDiscovery, which was meant to help shoppers by analyzing images on the web and presenting similar product offers with lower prices—a form of targeted advertising. After a major vulnerability was found in the Superfish code, backlash was swift, given that the adware was pre-installed on machines without any disclosure on the part of Lenovo. VisualDiscovery was installed on nearly 800,000 Lenovo laptops before the issue came to light, and the laptop-maker ended up paying a $7.3 million settlement.
In the case of the UMX U686CL, there’s a socioeconomic disparity issue here that’s worth noting, Collier pointed out: “Budget should not dictate whether a user can remain safe on his or her mobile device. Shell out thousands for an iPhone, and escape pre-installed maliciousness. But use government-assisted funding to purchase a device and pay the price in malware? That’s not the type of malware-free existence we envision.”
Concerned about mobile security? Check out our free Threatpost webinar, Top 8 Best Practices for Mobile App Security, on Jan. 22 at 2 p.m. ET. Poorly secured apps can lead to malware, data breaches and legal/regulatory trouble. Join our experts to discuss the secrets of building a secure mobile strategy, one app at a time. Click here to register.


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New York, NY – March 15, 2011 – Just in time for its second birthday, Doodle Jump announces surpassing 10 million paid mobile downloads. Since bursting onto the App Store in March 2009, Doodle Jump has captured the hearts and minds of casual gamers around the world thanks to its playful art style, sublime tilt controls and charming protagonist, Doodle the Doodler. Hollywood has also taken notice of Doodle Jump’s widespread successes as E.B., the star of Universal and Illumination Entertainment’s upcoming live action/CG-animated comedy, Hop, made a recent cameo in the mega-hit iPhone title.
Lima Sky, the creative force behind Doodle Jump, is set for an ambitious expansion of the franchise with development plans to bring Doodle Jump to XBLA Kinect, one of the hottest sectors in console gaming. A free multiplayer update will be out very soon for the iPhone version, and the long-awaited Doodle Jump for iPad is, well, still in the works. Tapping into their creative juices, Lima Sky is designing Doodle Jump for iPad to include brand new content. With Doodle Jump stationery sets published earlier this month, a new line of Doodle Jump toys in development, and an upcoming Doodle Jump comic book, this year is poised to be the biggest yet for one of the mobile’s most famous franchises.
“After such incredible first two years, it is safe to say Doodle Jump has exceeded even our wildest imaginations,” says Igor Pusenjak, founder of Lima Sky. “We are looking forward to bringing even more amazing content to millions of Doodle Jump fans around the world.”


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After a few weeks of rumors and assumptions, Google has officially announced it’s own subscription music service at the 2013 Google I/O Conference this afternoon.
Google has been working on the service for the better-part of the last few years. The new music service will work with the current music store already built-into Google Play. This will allow customers to easily stream millions of tracks that are already on the service. There will be a recommendation program that will help you find new music based on music that you already enjoy. The service is running inside a normal web browser with local tracks streaming tracks all in one library for easy discovery. The service isn’t free of course, since there are licensing fees involved. The service will start at $9.99 a month, after a 30-day free trial. If you signup before June 30th, the monthly fee will cost $7.99.
More details on the service will be announced after the official reveal is finished at the Google I/O conference that is currently underway.
Navigate a safer internet
Three major players will take your bets
Disney and Comcast have reached an agreement to launch Disney+ and ESPN+ on Xfinity. The integration allows X1…
Tile is making it easier to find a misplaced Fitbit Inspire 2. Users will soon see a notification…
ESPN+ on Hulu: It's now easier than ever to watch ESPN+ content because you can stream it right from the Hulu app.
The Vudu app will now be available on Amazon Fire TV Edition smart TVs and Fire TV streaming devices, with movies and shows to stream.
NCAA March Madness Live App: Turner Sports updated the NCAA March Madness Live App, allowing users to second-screen on more devices.
Netflix Downloads for You: Netflix's latest feature will automatically download shows and movies that you are interested in watching.
David Bowie on TikTok: Warner Music Group, Sony Music Entertainment and The David Bowie estate reached an aggreement to honor the late performer.
The HBO Max app is launching on Roku devices this week, and already launched on the popular PS5 from Sony earlier this week.
Apple set a December 14th launch date for Apple Fitness+, its first fitness experience for the Apple Watch.
Rotten Tomatoes launched a new Top Critics program for its Tomatometer rating system, including new criteria that will increase inclusion.
Hulu's Watch Party feature allows up to 8 viewers to watch shows and movies together while social distancing, is now available.
Amazon announced Amazon Pharmacy, offering to help customers purchase their prescription medications online.
Spotify's annual Premium holiday offer is back, offering ad-free music to enhance your holiday season.
Amazon Music is remastering thousands of songs and albums to Ultra High Definition with 3D Audio Support


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Kosovo kudos for Hunting
Engineering and oilfield services group Hunting has won a £100 million contract to provide temporary field accommodation and ongoing support to the British Army in Kosovo, thanks to pre-fab cabins designed to withstand the Balkan winter.
Some 5000 soldiers will sleep in Kudos Kabins, made of a honeycomb aluminium structure sandwiched between metal skins.
Chairman Richard Hunting said: 'We're planning for up to four feet of snow on the roofs.'
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Health and fitness brand Fitness First, owned and operated by Landmark Group in the Middle East, has announced the opening of a new community club in Mudon, Dubai. The mixed club is designed to complement current Fitness First clubs while offering a brand new unique training experience, with a focus on allowing customers to train like athletes, through a variety of diverse training programmes.
Mudon community club is a brand new athletic-based concept, bringing new innovations to Dubai and offering unique training facilities for all abilities from triathletes looking to train in the pool on their way to the cycling track at Al Qudra or those looking to use the Watt Bikes to hone in on their cycling skills. Reformer Pilates is also accessible to those who favour a workout enhancing strength, balance and coordination.
The state-of-the-art new facility will cater to every need of the modern, active, health-conscious gym-goer while also providing the necessary amenities for first-time members. The high-performance club includes brand new signature classes and top of the range fitness equipment and specialist programmes for all fitness levels and abilities.
Fitness First Mudon provides the ultimate health-club experience for athletes and avid gym members alike, with group exercise classes and a fully equipped cardio theatre and loaded weights, all designed to offer a dynamic fitness environment that keeps members motivated.
It is one of the first clubs to offer Wattbike, the indoor bike trainer which delivers performance insights for every rider. An unparalleled first for Fitness First and the region will be a Kube Wall, featuring an all new Rips, Ropes and Straps class, an intensive 30-minute workout which changes every week and focuses on total body conditioning and interval training. Athletics and innovative workout concepts are paramount to the new Fitness First Mudon gym.
The new Fitness First community health club in Mudon Dubai sets a new standard for health and fitness clubs, with unrivalled services and facilities and the friendliest staff. The high performance club includes brand new classes and premium fitness equipment and specialist programmes for all fitness levels and abilities such as Charge, a brand new class to optimise metabolic rate and boost post-workout calorie burning.
For those wishing to train hard and train serious in the great outdoors, the advanced and innovative Outdoor Functional Training zone offers unplugged training concept Parkour and Beaverfit Performance Rig, and the swimming pool will offer programmes such as Swim Academy and Masters Swim.
The facility is also outfitted with the latest equipment such as SKILLMILLS for indoor running, TRX, Rip Trainers and Assault Bikes. Alternatively, the Mind and Body Studio offers Power Yoga, Flow Yoga and other specialist classes led by world-class fitness professionals.
Fitness First Mudon will also cater to younger generations. There will be a SPORTSZONE, which will play host to kids’ academies including basketball, cricket, football and more as well as providing a superior outdoor sport facility for adults who want to take part in team sports such as football, volleyball and basketball.
“We are delighted to be presenting this innovative, athletics inspired club to the region, which provides an unprecedented new meaning to the word gym. Mudon is like no other club in the Middle East and we are looking forward to welcoming members to show them how this gym stands out from the crowd and can propel you to new levels of fitness,” says COO George Flooks.
Fitness First continues to cement its position as the region’s leading fitness brand with over 67 clubs across 51 locations in the Middle East, including the UAE, Bahrain, Qatar, Saudi Arabia, Kuwait and Jordan.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
Snapchat has been betting big on Augmented Reality’s (AR) retail future consideringJune 22, 2021 | By Jibran Chouguley
Union Coop, a consumer cooperative in the UAE, revealed that 78% of
Union Coop has opened its 23rd branch within the UAE in Jumeirah
Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and
UAE-based Al Maya Group announced that it will be boosting import of
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
GMG, a family-owned holding company, has confirmed its plans to expand its
The Ministry of Human Resources and Social Development in Saudi Arabia has
Extravagant, conceptual, great food and views are some of the ways that
UAE-based Moroccan beauty brand izil’s constant transformation and evolution to meet the
Abu Dhabi’s state investment company ADQ is in talks to invest about $500 million
The once powerful department stores that anchored malls and streets around the
Who isn’t a sucker for discounts? Customers today are spoiled for choice
The various e-commerce and virtual retail stores that cater to different product
A private helicopter carrying the chairman and managing director of Lulu Group,
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to


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Google Antitrust Investigation by U.S. Could Mean Years Tied Up on Defense
Google Inc. (GOOG) may be forced to spend years defending itself in a U.S. Federal Trade Commission investigation that could be the government’s biggest antitrust probe since the Microsoft Corp. (MSFT) case.
Even if Google ultimately prevails, the probe might create uncertainty around the company’s business, slowing its momentum, lawyers and analysts said. Federal courts ruled that Microsoft engaged in illegal monopoly practices in a dispute that stretched over two U.S. presidential administrations.
“Google effectively is already running under the yellow flag of caution,” Eric Goldman, associate professor and director of the High Tech Law Institute at Santa Clara University in California, said in an interview. An FTC probe “could make it more difficult” for Google to compete, he said.
The agency is likely to examine whether Google is using its position in Internet search to subdue rivals in adjacent markets with threats and jacked-up advertising rates, the lawyers said. The company’s conduct in new sectors, such as mobile devices, also will probably be a focus, they said.
The FTC alerted technology companies of plans to gather information from them for the probe, three people familiar with the matter said in April.
The FTC’s investigation is the latest example of government regulators’ growing concern that the Mountain View, California- based company is restricting competition on the Internet.
The European Union and the state of Texas have begun investigations and the U.S. Justice Department is monitoring Google’s compliance with an agreement letting it purchase ITA Software Inc.
Google has set aside $500 million for a U.S. government investigation into online pharmacy ads the company accepted that may have violated the law, a person familiar with the matter said.
The FTC is already overseeing Google’s compliance with a settlement to tighten privacy policies after charges last year its Buzz social-networking service used deceptive tactics.
The number of regulators looking at Google is like “a lot of dogs growling at their feet -- and they have to pay attention to each and every one of them,” said Rebecca Arbogast, a Washington-based analyst with Stifel Nicolaus & Co. “This is the ‘new normal’ for Google, as long as they have dominance and have their hands in so many pots.”
Mistique Cano, a spokeswoman for Google, said in an e-mail that the company “understands that with success comes scrutiny.”
“We are happy to answer questions about our business, as we have during four separate reviews by the federal government over the past four years,” she said.
Google rose $2.78 to $528.38 at 1:31 p.m. New York time on the Nasdaq Stock Market. The shares declined 12 percent this year before today.
Google invited regulators’ scrutiny by skewing its search results and advertising fees to favor its own services, giving it an “unassailable competitive advantage,” said Shivaun Raff, chief executive officer of Foundem, a U.K.-based price- comparison website that competes with Google.
“I don’t believe the antitrust laws of the United States obligate Google, or rather entitle any of Google’s rivals, to specific, prominent listings,” he said in an interview.
The FTC may seek to determine whether Google illegally used its clout as owner of the world’s most popular Internet search engine to exclude competitors from such search markets as travel, said Kenneth Glazer, the former deputy director of the FTC’s Bureau of Competition.
“I’d want to focus on the area of Google’s greatest strength, which, of course, is search engines,” he said in an e-mail.
The investigation also may involve the FTC’s Bureau of Consumer Protection, which would look at whether Google deceived Internet users by skewing search results to favor its own services, Melissa Maxman, the Washington-based co-chair of the antitrust practice group at Cozen O’Connor, said in an interview.
Maxman said she’d be “shocked” if the consumer protection unit wasn’t involved.
The FTC should examine whether Google doctored search results to “raise the cost of Google’s rivals, raise their advertising costs, raise their development or operating costs,” said FTC official Melanie Sabo, who is likely to play a leading role in a Google probe, at a panel discussion in December.
The FTC may also want to know if Google tried “to decrease the number of eyeballs” viewing competitors’ websites, said Sabo, assistant director for the FTC’s anticompetitive practices division. Sabo said at the time she was speaking for herself and not the agency.
Google is already the target of antitrust complaints filed by rivals. In a case before the EU, Foundem accused Google of excluding the price-comparison website from its search results and increasing by 10,000 percent the fee for advertising on Google.
Foundem’s complaint said a Google official told the company that computer formulas used to calculate rankings were tweaked to penalize emerging price-comparison and travel Web services.
When more than three years later, Google lifted Foundem’s penalty, the company said it discovered Google was giving preference to its own competing service, Google Product Search, by placing it near or at the top of rankings.
Google has said that 80 percent of Foundem’s content wasn’t original.
Google’s power to promote its products is exaggerated by critics, said Goldman, the Santa Clara professor.
“Just because Google can market the crud out of it, doesn’t mean it’s going to win in the marketplace,” he said.
Federal investigators may also look at Google’s treatment of Skyhook Wireless Inc., said James Grimmelmann, an associate professor of law at New York Law School who specializes in the Internet.
In a lawsuit filed in Suffolk County, Massachusetts, Superior Court, Boston-based Skyhook said Google sabotaged plans by Motorola Inc. and Samsung Electronics to use Skyhook’s location-finding software on the companies’ mobile phones.
Google, which makes a competing application, told Motorola and Samsung incorrectly that the Skyhook software didn’t work with the Google-made Android operating system running on the phones, according to the complaint.
In a May 13 court filing, Google said it hadn’t done anything wrong.
“If Skyhook suffered any damages, which is denied, then any such damages resulted solely from its own acts or omissions,” Google said.
Google’s position of dominance is unprecedented, making the outcome of any investigation unpredictable, said Bert Foer, president of the Washington-based American Antitrust Institute.
“We’ve never had a Google or a Google equivalent,” he said. “We’re going to have feel our way around.”


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WASHINGTON -- District of Columbia Councilmember Jim Graham (D-Ward 1) is looking for $3.2 million to help kill a revenue-generating provision in Mayor Vincent Gray's 2013 budget proposal that would allow bars and restaurants to sell alcohol until 4 a.m.
As The Washington Post reports, Graham may have found $710,000 in potential tax revenues in a plan that would instead allow holders of Class A licenses -- liquor stores -- to sell alcohol on Sunday, which is currently prohibited in the nation's capital and a handful of states.
Graham, who represents nightlife neighborhood destinations like Adams Morgan and U Street, thinks that extending the 3 a.m. alcohol cut-off to 4 a.m. could create late-night nuisances for local residents. The councilmember has been quick to also point out that so-called "voluntary agreements" that many businesses must sign with advisory neighborhood commissions would prevent later hours of operation for affected restaurants and bars.As DCist noted last month when the mayor released his budget proposal:
Under Gray's proposal, bars would be allowed to extend weekday and weekend hours by an hour—booze could be sold until 3 a.m. on weekdays and 4 a.m. on weekends—while liquor stores could start selling at 7 a.m. Monday through Saturday. (You could also buy beer and wine at the grocery store starting at 7 a.m. on Sundays.) Additionally, a presidential inauguration weekend would be established for 2013 and 2017—there was one in 2008—that would allow bars to stay open until 4 a.m. and give restaurants the ability to serve customers 24 hours a day.
Lifting Sunday "blue laws" has been a tactic many states have considered to generate needed revenue in dismal budgetary times. But in many parts of the country, those efforts have been opposed by family organizations and religious groups.
As the Post points out, Graham said that members of an alcohol task force in Ward 7 has expressed their opposition to expanded liquor sales saying that it would encourage bad behavior outside liquor stores.


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GhanaVeg Awards 7 Vegetable Sector Companies
GhanaVeg awarded 7 companies during its 3rd Fruit and Vegetable fair held at the La Palm Royal Beach hotel. The award was done by the Minister of Food and Agriculture Dr. Afriyie Akoto and the Netherlands Ambassador to Ghana, H.E. Ron Strikker Award.
Joekopan Enterprise was awarded for the ‘Best New Product-Export Market’ despite the challenge of the Export Ban. Joekopan had developed new product lines like okra, long bean, tinda and others for non EU markets and has explored supply for domestic market to remain in business.
Eden Tree limited was awarded for ‘Best Business Innovation’ for the outstanding performance of processing fruits and vegetables for the domestic market and the launch of an ultra-modern facility to help in processing vegetables for its customers.
AB Farms was awarded for ‘Most Sustainable Business’, for managing a strong cyclical production regime in two locations, building own packhouse and preparing for GlobalG.A.P. Certification as well as directly employing about 30 farm hands, with permanent farm manager and agronomist among other innovative activities.
Kukobila Nasia Farms received the award for “Most Inclusive Business” for its contribution towards the production of butternut for export within a nucleus outgrower scheme and support, providing inputs directly to outgrowers as part of a buy-back arrangement and introducing to its nucleus outgrower farms, the use of irrigation at Kukobila in the Northern Region.
Tikola Limited was awarded for ‘Best New Product- Domestic Market’ for providing hybrid seeds to farmers that have widely been acclaimed to have high-yielding capacity with two breakthrough varieties in tomatoes and onions and backstopping sales with technical assistant to farmers.
Lubok Farms for ‘Most vibrant and Growing Business’ for constructing 7 greenhouses for protected cultivation– an innovative technology, mounted a system to generate own electricity using solar power – a good innovation in the face of increasing electricity tariffs and currently producing good bullet peppers for sale to supermarkets in Accra
To climax the event, GhanaVeg awarded Fruit Masters for ‘Best Exhibition Booth’ during the fair. Fruit Masters got the award for neatly arranging produce, smartly attired booth managers and locally produced fresh fruits and vegetables.


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In a session that is unlikely to go down in the history books as one of the most exciting ever, the Australian dollar did next to nothing in overnight trade as holidays in the US and UK sapped markets of any energy.
After briefly falling below .7150 in early Asian trade, the AUD/USD rebounded to around .7180 in Europe before oscillating in a 10-pip range for the remainder of the session.
The AUD/USD eventually closed the session buying .7179, almost unchanged from Monday’s opening level.
Very exciting, I know.
But trust me, investor interest, and more importantly market volatility, looks set to pick up on Tuesday, so there is a reason to read on.
On the data front, markets will receive the last inputs into Australian GDP with the release of quarterly balance of payments (including next export contribution) and government expenditure figures. The net export figure will be eyed closely as it is expected to provide the bulk of GDP growth for the quarter.
Australian building approvals and private sector credit figures for April will also be released.
Conveniently, all are scheduled to hit at exactly 11.30am AEST.
Outside of Australia, there’s also a raft of Japanese data scheduled including household spending, industrial output and unemployment figures for April.
Later in the session, UK and US markets are back, something that will almost certainly boost market interest in the Asian session.
US PCE inflation figures, the Fed’s preferred gauge of measuring inflationary pressures, will be released along with personal consumption and income figures for April. Rounding off the session, the Case-Shiller house price survey for March and Chicago PMI report for May will also be released.
Plenty to keep investors interested, and generate some movement in currency markets.
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The 2016 Annual Health Fair was hosted by the Canadian College of Naturopathic Medicine (CCNM) on January 13th, 2016. This is an excellent opportunity for companies in the natural health industry to meet with CCNM’s 600 students and faculty and introduce their products and services.
The event was the largest in CCNM’s history, with nearly 60 companies in attendance, including a diverse representation of supplement companies, compounding pharmacies, labs, software companies, professional associations and other related groups. The school received excellent feedback from vendors and students. One company stated that it’s “always good to visit CCNM, meet some friends, and interact with the students”.


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South Africa is in an enviable geographic position. The country's expansive coastline is a 3 000 kilometre shoreline which skirts around the southern tip of Africa and spans both the Atlantic Ocean to the west and Indian Ocean to the east.
Source: federico rostagno via 123RF
This strategically-positioned coastline places South Africa in a position to serve as a maritime hub and an ideal maritime transit point and a centre of global trade. The maritime sector has the potential to unlock economic growth opportunities for the country and position South Africa as the gateway to Africa.
The South African oceans economy has the potential to contribute R54bn to local GDP and the ability to create 316 000 jobs, according to a study conducted by the Nelson Mandela Metropolitan University.
The South African government has successfully outlined and implemented a growth blueprint for the ocean economy which is known as Operation Phakisa. This initiative has already created 40 000 jobs, and the sector itself is estimated to have contributed over R25-billion to the country’s GDP.
The success of Operation Phakisa is also attributable to the country’s unique selling point, which is its world-class infrastructure in all its eight major ports, which includes one of world’s biggest coal terminals at Richards Bay, the southern hemisphere’s deepest and biggest natural harbour of Saldanha, and two of the world’s top container ports – Durban and Cape Town.
These ports serve as an important flow of the mineral bulk including coal and iron ore, agricultural produce such as wheat, maize, soya, animal fee and fresh produce, and automotive vehicles and components, timber and forest products.
Despite the strides that the ocean economy has made in revitalising the economy, the sector is constrained by high port costs compared to other countries in the region which render local ports uncompetitive.
The outbreak of the Covid-19 pandemic has further slowed the growth of the sector as travel restrictions resulted in subdued demand and created bottlenecks at the ports of entry.
While Covid-19 has had an adverse impact on the maritime sector in South Africa, the pandemic also accelerated the digital transformation of the sector. Covid-19 health and safety protocols has necessitated people to minimise physical interaction and opt for touchless technologies to minimise the transmission of the virus.
To that end, Servest predicts that autonomous or remote ships, drones, and e-learning will be the smart solutions that will define the operations of the maritime industry. As the country enters the post-Covid-19 era, innovation and digitisation in the maritime sector will become more pronounced as the industry starts to reap the benefits of digitisation and realise the operational efficiency that results from deploying smart solutions.
We are already seeing autonomous ships launching out to sea with minimal crew on board. Drone technology with advanced technology to dispatch smaller items to ships and virtual e-learning training programmes for seafarers on board will become the new norm.
The maritime industry is under immense pressure to reduce its carbon footprint. Innovative and customised solutions will go a long way towards edging the sector towards decarbonisation and lessen its carbon footprint.
With the economy unable to soak up youth unemployment which is at an all-time high of 34.9%, the maritime industry is well-positioned to provide career opportunities to young graduates. The maritime industry offers a wide variety of opportunities, including but not limited to deck officers, engineers, skippers, maritime lawyers, and many more.
The maritime sector, which accounts for more than 90% of cross-border trade, is resilient and has weathered many storms, the most recent being the Covid-19 pandemic.
Maritime transport is the backbone of the global economy. The industry is undergoing rapid transformation that is driven by a range of technological innovations aimed at making operations greener, cheaper, and more efficient.
The foundation for building on the success of the industry are firmly in place. Servest believes that the impetus for accelerating the growth of the industry lies in the deployment of customised smart technologies that will be driven by a skilful and dedicated personnel.


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If you’ve read the latest headlines about Britain’s tech industry, you’d think the country hadn’t been rocked by the greatest political and economic uncertainty since the Second World War. Not only are UK startups raising record amounts of funding year on year, but tech giants like Amazon are investing and doubling down on the UK economy, as if the mood music was taken straight from a dance scene in La La Land. Surely Brexit Britain is booming?
This week Amazon said it would hire 5,000 people across the UK this year, boosting its headcount by a quarter when it moves into new offices in London’s Shoreditch. At least 500 of those new jobs will be in Amazon’s new research and development centres in Edinburgh, Cambridge and London, which has a hand in developing technology for Alexa, drones and Prime Video.
It was hailed as clear sign of the ecommerce giant’s long-term commitment to Britain. But of course 4,500 of these jobs will be in its packing warehouses across the UK. That said, Amazon did add 3,500 new jobs in the UK in 2016 and opened its first UK AWS data centres in London.
Doug Gurr, Amazon’s UK country manager made it all sound pretty sexy, emphasising “all types of roles from flight-test engineers, software engineers and corporate managers” while fleetingly mentioning the “fulfilment roles in our fulfilment centres” when speaking to the FT.
The move followed promises by other tech giants to double-down on the UK, seemingly undeterred by the uncertainty around Brexit.
In November last year Google said it would hire an additional 3,000 people in its London office over the next few years. Soon after, Facebook said it would hire an extra 500 employees in the UK in 2017, boosting its British headcount by 50 per cent.
Apple also announced last year that it will establish a new UK headquarters at the re-vamped Battersea Power Station, taking an enormous 500,000 square feet.
So, given all this apparently good news why is it that survey after survey reveals an underlying sense of dread and fear from the UK startup community about the future?
Again this week, new surveys out of the UK startup community found huge underlying concerns.
The Coalition for a Digital Economy (Coadec), a policy group representing tech and digital startups, released two reports in quick succession.
The first highlighted a critical fall-off in the STEM skills held by the UK’s population due to a lack of government funding. The second sounded alarm bells over visa restrictions leading to a tightening of the numbers of high-skilled specialists from overseas.
Right now the tech sector accounts for 16 percent of U.K. domestic output and 3 million workers, or 10 percent of all jobs in the U.K. By contrast, manufacturing accounts for 10 percent and construction accounts for 6 percent. As you can probably gather, most people work in the service economy.
Coadec said the UK is going to need an extra two million digitally skilled workers by 2020 to satisfy its growing tech economy. Software developers are the most sought-after, accounting for 27 percent of vacancies. But at the moment the UK is the bottom division internationally when it comes to the proportion of teenagers studying math to a high level.
Separately, Coadec warned that restrictions on the availability of high-skilled specialists from overseas risks choking off a major growth sector of the U.K. economy. It’s calling for a special visa to allow qualified people to enter the U.K. and seek work in the digital economy, given that a third of the average tech company’s workforce is from outside the UK. It estimates there is already a talent shortage of 800,000 workers. In a year or so’s time that figure will probably hit a million.
But is it easy to hire tech workers from overseas in the UK? Almost 70 percent of respondents to the Codec survey said bureaucracy and time is already a major barrier, and many said they were put off by the red tape and around £6,000 in legal fees to make a single hire. Of course, we can expect that to get so much easier and cheaper after the UK leaves the EU…
So where are these millions of tech people going to come from? Space?
While the media and politicians trumpet a few thousands “tech jobs” created in Amazon’s packaging centres, it turns out that the UK tech industry — and especially startups — is facing a huge shortfall in the number of people it requires to feed its economy, and with continuing uncertainty over the status of EU workers in the UK due to Brexit.
Unsurprisingly, the Brexit propaganda doesn’t tell the whole story.
For Amazon is creating jobs all over Europe, not just the UK.
The pomp about Britain being “Open for Business” as the Prime Minister likes to trumpet, wears thinner when you realise the moves by Amazon are simply part of a wider European expansion. In fact Amazon is so confident in the EU that it’s hiring 15,000 people across the continent.
What are we to make of this huge divergence in views? On the one hand the tech giants seem to be doubling down. But at the startup end of the spectrum, where the pockets are not nearly so deep, they are enormously concerned about were they are going to get their future talent.
It’s probably time then, as our US cousins like to say, to wake up and smell the coffee.
Let’s start with the big dividends for large companies around property.
Commercial property, where all these Google, Apple and Facebook employees are going to be housed, is in a state of post-Brexit confusion.
A quarter of the value of commercial property deals that were in the market on June 23, the day of the EU referendum, fell through. Any savvy person at one of the above tech companies would immediately have sealed a sweet deal on their new office at that point.
And around £3.5bn worth of commercial property transactions have failed since the UK voted to leave the European Union. Although values have held up, all this uncertainty will have likely allowed the tech giants to play hard ball with property developers.
And Apple’s 1,400 employees are simply being merged from eight offices around the capital into one. That’s quite a saving.
Let’s also remind ourselves that while Amazon is moving into the famous Shoreditch area, where London’s tech startup boom originated 10 years ago, it’s now a place were most early startups must huddle together in packed co-working spaces, often unable to afford office spaces of their own.
Then there’s the currency. With the Pound crashing to the floor in recent months, it’s become cheaper than ever before to hire in the UK, which remains the simplest and easiest place in Europe to both hire and, crucially, fire, when needs be. The salary bills in the UK are currently making Financial Controllers weep with joy.
And if you are selling “things”, as Amazon and Apple are, your profits are just fine, as retailers look to squeeze more out of a British public who must buy their good in their diminishing pounds, even as costs go up.
Is seems like Brexit Britain might well be a ‘Shangri-La’ for a certain type of ‘tech industry’ which has deep pockets, access to international currency reserves and plenty of property lawyers. But where the future of its innovation sector, its startups and entrepreneurs is concerned, it’s not looking at Shangri-La so much as La La Land, singing a much sadder tune.