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Visa Launches Foundation With Inaugural Grant to Women’s World Banking
Visa (NYSE:V) today marked the launch of the newly-incorporated Visa Foundation, which has been established as part of Visa’s larger social impact strategy that will prioritize the growth of micro and small enterprises around the world, enabling individuals, businesses, and economies to thrive. To mark its inception, the Visa Foundation is making its first financial commitment of up to $20 million to Women’s World Banking.
At the heart of the Visa Foundation is the belief that micro and small enterprises are the backbone of the global economy. In fact, small and medium enterprises account for more than 90 percent of enterprises worldwide, and contribute 50-60 percent of global employment.1 However, these segments struggle to access the financial tools, capital and training programs required to enable them to fully thrive. The Visa Foundation’s core mission is to support efforts to rectify this imbalance.
“As a brand and a business, Visa has always stood for making a positive and transformational impact on the world,” said Al Kelly, chief executive officer for Visa and Visa Foundation board member. “The Visa Foundation has been established to build on a long history of corporate giving and will accelerate the delivery of our social impact goals. Our intention is to establish a legacy of meaningful contributions by helping millions of microenterprises thrive.”
Women’s World Banking Support
The Visa Foundation’s first multi-year initiative will be a five-year, up to $20 million grant to Women’s World Banking aimed at supporting millions of women-led small and micro enterprises.
Despite their contribution to both the formal and informal economy worldwide, women-owned micro and small businesses are unserved or underserved financially. According to the World Bank there is a staggering $300 billion annual credit deficit for formal sector women-owned small and medium sized businesses.2 Financial products such as savings, credit and insurance can help low-income women to build their assets, grow their businesses, and ensure economic resilience in challenging times.
With the Visa Foundation’s support, Women’s World Banking will develop sustainable solutions for women entrepreneurs to build their enterprises and establish financial safety nets while also advancing leadership skills and financial capabilities. Over the next five years, the program will:
- Develop, test and scale innovative and sustainable products, that may include bundled financial services, business continuity insurance and technology-based solutions that drive positive financial behaviors
- Expand Women’s World Banking’s global network of partner financial service providers to effectively serve 50 million more financially underserved individuals
- Measure the impact that having access to improved financial services has on women enterprise owners
- Drive knowledge sharing, innovation and best practices within the global community on how to best support small and micro enterprises
The Visa Foundation grant is designed to support Women’s World Banking’s efforts around the world, with an initial focus in India, Mexico, Egypt and Nigeria, as key markets to drive growth among low-income, women-owned small enterprises.
“Women and women-owned businesses continue to be disproportionately excluded from accessing formal financial services, impacting hundreds of millions of individuals with a significant effect on families and communities,” said Stephen Kehoe, Visa’s senior vice president for global financial inclusion, speaking at Women’s World Banking Making Finance Work for Women Global Summit in Dar es Salaam in Tanzania. “By supporting measures to include women, there is a strong multiplier effect in terms of increased financial health for all. For this reason, the Visa Foundation chose to focus its first grant on women-owned enterprises and has selected Women’s World Banking as our first grant recipient.”
“Women’s World Banking is thrilled to be Visa Foundation’s inaugural grantee. We share a vision to serve low-income women entrepreneurs whose contribution to economic growth is far below its potential,” said Mary Ellen Iskenderian, President and CEO of Women's World Banking. “One billion women worldwide are unbanked, a significant number of them business owners. Through this partnership, we will deliver solutions that drive women’s access and usage of innovative financial services, so that they create economic opportunity for themselves and their families.”
About the Visa Foundation
The Visa Foundation, the philanthropic arm of Visa, works with charitable organizations to support underserved people and communities. As its central focus, the Visa Foundation is committed to helping low-income, financially underserved micro and small enterprises around the world to thrive and prosper. The Foundation, registered in the U.S. as a 501(c)(3) entity, also supports broader community needs as well as humanitarian responses in times of crisis.
 International Finance Corporation, “IFC Issue Brief: Small and Medium Enterprises.” March 2012
 International Financial Corporation, “Closing the Credit Gap for Formal and Informal Micro, Small, and Medium Enterprises.” 2013
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Philip Morris International Launches Next Generation of IQOS, the World’s Leading Heated Tobacco Product23.10.2018 02:30 | Pressemelding
In its passion and drive to provide better choices to people who smoke, Philip Morris International Inc. (“PMI”) (NYSE: PM), the global leader in smoke-free innovation and science, has launched the next generation of IQOS. The new IQOS 3 and IQOS 3 MULTI integrate extensive consumer insights and feedback to improve design and user experience while maintaining signature taste, sensory attributes and ritual—all underpinned by strong scientific substantiation. The new versions aim to further encourage a growing number of smokers to switch, to the benefit of their health, public health and, ultimately, society. The new iterations were launched today in Tokyo, Japan—the country considered the birthplace of IQOS. The iconic brand offers the best in taste and satisfaction in the category, and almost 6 million adult smokers have already quit cigarettes—with more than half of those in Japan. “Our dream was to create a better alternative for smokers, and IQOS has made this dream a reality; it’s
Logitech Delivers Record Q2 Sales and Double-Digit Profit Growth23.10.2018 01:00 | Pressemelding
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the second quarter of Fiscal Year 2019. Q2 sales were $691 million, up 9 percent in US dollars and 10 percent in constant currency, compared to Q2 of the prior year. Q2 GAAP operating income reached $65 million, compared to $59 million in the same quarter a year ago. Q2 GAAP earnings per share (EPS) grew 15 percent to $0.38, compared to $0.33 in the same quarter a year ago. Q2 non-GAAP operating income grew 18 percent to $85 million, compared to $71 million in the same quarter a year ago. Q2 non-GAAP EPS grew 26 percent to $0.49, compared to $0.39 in the same quarter a year ago. Q2 cash flow from operations was $85 million, up 24 percent compared to Q2 of the prior year. Cash flow from operations for the fiscal year to date was $97 million, compared to $67 million for the same period a year ago. “Q2 showcased the power and diversity of our portfolio,” said Bracken Darrell, Logitech president and chi
SmartStream Steps Ahead with New Industry Digital Payments Solution22.10.2018 23:01 | Pressemelding
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced the launch of TLM Aurora, the next generation of Corona, the industry’s leading reconciliation platform – the first new module is designed to support the new industry standards in the digital payments world, by providing connectors to SWIFT GPI, RTGS, as well as Blockchain based networks, allowing for real-time operational control, proactive exception management and low TCO. TLM Aurora provides the new generation of integrated operational control for the digital marketplace. As transactions increase in variability, velocity and volume, the need for scalable, real-time, integrated reconciliations is greater than ever. TLM Aurora supports organisations in performing operations such as SWIFT and SEPA transfers, mobile, cash and card payments, digital currencies, settlements and reconciliations. The solution is agile enough to support the smallest of organisations and can be
CoreLogic to Acquire Symbility Solutions Inc.22.10.2018 22:12 | Pressemelding
CoreLogic (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today announced the Company has entered into a definitive agreement to acquire the outstanding shares of Symbililty Solutions Inc. (“Symbility”) (TSX.V: SY) not already owned by CoreLogic. CoreLogic currently holds approximately a 28% ownership interest in Symbility. Symbility, founded in 2004, is a leading provider of subscription and cloud-based property insurance claims workflow solutions for the Property & Casualty insurance industry. Symbility also provides an extensive array of innovative enterprise mobile and application software solutions. The company is headquartered in Toronto, Canada and operates in the U.S., Canada, the United Kingdom, Germany, Netherlands, Australia and New Zealand. “Symbility expands our footprint in property and casualty insurance domestically and in key markets around the globe. Further scaling our insurance and international footpri
Pacific Drilling Awarded Contract for the Pacific Bora22.10.2018 21:00 | Pressemelding
Pacific Drilling S.A. (OTC: PACDQ) (“Pacific Drilling” or the “Company”) announced today that its deepwater drillship the Pacific Bora has been awarded a contract by Nigerian Agip Exploration Limited (a subsidiary of Eni SpA) for drilling operations in Nigeria. The term of the contract is for one firm well plus two additional option wells. The contract is expected to commence in mid to late November 2018 and firm contract backlog is estimated at $9 million. Pacific Drilling Chief Executive Officer Paul Reese commented: “On the heels of our previous announcement of new work for Pacific Santa Ana in Mauritania, we are pleased to have secured this contract for the Bora which reflects our substantial experience in Nigeria and our uninterrupted commitment to providing exceptional drilling services to our clients.” Currently offshore Abidjan, Côte d'Ivoire, the Pacific Bora is a sixth generation deepwater, dynamically-positioned drillship capable of operating in water depths up to 10,000 fee
ResMed Wins German Patent Infringement Case Against Fisher & Paykel22.10.2018 20:30 | Pressemelding
ResMed (NYSE: RMD) (ASX: RMD), the world’s leading tech-driven medical company and innovator in sleep apnea and respiratory care, today announced the results of a court and patent office ruling in Germany in ResMed’s favor. A trial court ruling from the Munich District Court states that the headgear used on two Fisher & Paykel CPAP masks – the Simplus full face and Eson 2 nasal mask – infringes ResMed patent EP 2 373 368 B1 in Germany. In a separate decision, the Opposition Division of the European Patent Office had already decided that the patent asserted against Fisher & Paykel is valid. Each decision may be appealed by Fisher & Paykel. “We applaud the Munich District Court for reaching this just finding, and are exploring all options in light of the fact that Fisher & Paykel is selling CPAP masks with headgear that infringes a valid ResMed patent in Germany,” said ResMed Chief Administrative Officer and Global General Counsel David Pendarvis. “We will continue to defend our intellec


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This is the new Partick Thistle home kit 2020/21, PTFC’s new primary strip for the upcoming League One season. Made by new kit partners O’Neills, the new uniform is the first to be produced by the Irish manufacturer after they inked a deal to replace Joma, and was officially unveiled on June 19, 2020.
O’Neills, who had also unveiled a charity Thank You NHS jersey for Thistle last month, have stuck to the club’s red and yellow colours, but with a broken stripe design, paired with predominantly black shorts and socks. The goalkeeper jersey is pink in colour, and both tops have Just Employment Law as the primary shirt sponsor.
The early conclusion of the season forced Thistle to be relegated from the Championship, despite the club having a game in hand. Continue reading
These are the new Partick Thistle Thank You NHS shirts 2020, special edition charity tops created by PTFC’s new kit partners O’Neills. The Irish manufacturer are PTFC’s new kit partners and will be releasing their new home and away strips later this summer, and this charity offering is the first for their club from the stable.
Limited numbers of this PTFC Thank you NHS jersey will be produced, and £5 from the sale of every top will go to charity. Continue reading
This is the new Bohs third shirt 2020, League of Ireland club Bohemians’ new second alternate strip for the season. Made by kit partners O’Neills, the new Bohs third jersey was officially unveiled on 16 March, 2020. It was originally supposed to debut a few days ago in their away league clash against Cork City, but that fixture was postponed due to the Coronavirus epidemic sweeping across Europe.
The third jersey is primarily blue, with a hint of yellow, as can be seen in the pic below.
Des Kelly Interiors are the jersey’s primary sponsors, having signed a four year deal with the club a few months ago. Continue reading

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Technology Law Analysis
August 02, 2018
Here's why Cash on Delivery is not illegal in India
This article was originally published in the 30th July 2018 edition of
Several sections of the media reported this week that the ‘Cash on Delivery’ model made popular by e-commerce players in India is illegal. They did so on the basis of the Reserve Bank of India’s (RBI) reply to a Right to Information (RTI) application.
But a close analysis of the RBI’s RTI reply and the relevant legal provisions reveals that the Cash on Delivery model is not illegal, and that the RBI has not said so either.
For complete article, please click here.
– Jaideep Reddy & Gowree Gokhale
You can direct your queries or comments to the authors
The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.


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Lots needed for Light up Axminster auction
- Credit: Archant
BBC’s Homes under the Hammer star Graham Barton to conduct the town’s biggest ever charity auction
Christmas may seem a long way off - but the Light up Axminster team is already preparing to make this year’s festivities the best yet.
The group, which gave the town centre such fantastic illuminations last December, is looking at expanding into new streets this time.
But every string of lights and garland of bulbs needs funding.
And that’s why ‘Light Up Axminster’ is putting the talents of one of its key members to good use.
You may also want to watch:
They have asked Graham Barton, an auctioneer for the BBC’s ‘Homes Under The Hammer’ programme, to organise the biggest Charity Auction of Goods and Promises the town has ever seen.
Graham has helped raise more than £1million conducting auctions all over the country for hundreds of charities over the years and intends to make the Axminster one, on Saturday, June 23, an unforgettable occasion and a barn-storming success.
- 1 Honiton Town Council freezes its share of council tax
- 2 'Let’s get out of the stranglehold this killer virus has had on our lives' by staying home
- 3 Quite a year for a Honiton auctioneers Chilcotts
- 4 Parent+ Support Hub receives special thanks from Co-op
- 5 Rural Proofing response will be guided by Labour’s motion says Cabinet at Devon County Council
- 6 Honiton's Freya gets the chop for the Little Princess Trust
- 7 Devon Young Farmers discuss the challenges of farm succession
- 8 How you can help your children keep up with studying
- 9 New contractors to roll out fibre broadband across South West
- 10 Patients asked to stay away from Honiton Surgery
However, what every auctioneer and indeed every auction needs is lots and lots of…LOTS!
Said Graham: “So, if you’d like to donate an auction lot, you might be thinking what sort of things can be included in a charity auction. There are no hard and fast rules but here’s a quick look into the catalogues from a few of Graham’s recent events:
Meals out, hotel stays, bottles of wine and spirits, barrels of beer, cakes, hampers (not just food, beauty products, gardening nic-nacs etc), haircuts and beauty treatments, vouchers for goods and services, holiday accommodation (home and abroad), half or full days of special skills labour (plumbing, electrical, mechanical, gardening etc), sporting, leisure and musical experiences, new clothes, art and pottery, sporting memorabilia, jewellery, logs and even manure!
Added Graham: “The bottom line is that if you’d pay money for the “thing” then someone else probably would, too, and that means more light bulbs for more of the town’s streets at Christmas. Simple! “
To donate an auction lot, drop the details to firstname.lastname@example.org with details, or telephone Cindy Furse (the chairman of Light Up Axminster) on 07930 800225.
Added Graham: “We look forward to receiving details of your auction lot anytime between now and the early part of June.
Every pound raised is another light bulb bought, so many thanks in advance for any lot(s) you’re able to donate.”


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Archive for the ‘BMW Motorcycle Owners Association’ tag
A BMW takes a knee in front of Manchester, Vermont’s luxurious Equinox Resort
photo courtesy BMW MOA
You’ve got a great opportunity to see our great state and swing by our
offices this summer now that the BMW Motorcycle Owners Association (BMW MOA)
has decided to hold its annual International Rally in Vermont.
The event is from July 20 to July 23, 2006, and it’s being held at the Champlain Valley Exposition Center in Essex Junction, Vermont, just east of Burlington. The MOA Rally is a camping and riding event, and there’s not much better riding in the Northeast than the fabulous paved roads and more rugged unpaved terrain of the Northeast Kingdom.
Like every MOA Rally, you’ll see new bikes and old bikes, but mostly bikes
being ridden from all over the country and all over the world.
information, visit www.bmwmoa.org/rally/rally06/, or call the MOA
directly at (636)394-7277.
For the really ambitious, the BMW MOA, The Colorado BMW Club and the BMW
Riders Association (BMW RA) have joined forces and have linked all three of
their rallies into one mega-rally called the Peaks of America Tour.
begins at the BMW RA’s Discover Yourself in Idaho Rally July 6 through July 9. From there, ride to the Colorado BMW Club’s Top O’ the Rockies
Rally July 13-16 in lovely Paonia, Colorado, and end up at the MOA’s aforementioned “Vermont, It’s Not Flat” Rally here in our home state. For more information visit www.bmwmoa.org/rally/rally06/poa.htm
And tell acting BMW MOA President Dave Swider you heard it from his pals at Hemmings.
(This post originally appeared in the April 13, 2006, issue of the Hemmings eWeekly Newsletter.)
Vintage Ducatis will take center stage at AMA’s Vintage Motorcycle Days, July 15-17 in Lexington. Ohio.
Within a week, Ohio is going to be ground central for motorcycle enthusiasts
around the country. Not for its exceptional riding terrain (of which there
is some to be had, believe it or not), but for the events that are set to
land there over the next couple of weeks.
First up is the annual AMA Vintage Motorcycle Days, held this July 15 to 17
at Mid-Ohio Sports Car course in Lexington, Ohio. Now in its 14th year, the
event that began as a fundraiser for the Motorcycle Hall of Fame Museum has
grown into a one-of-a-kind motorcycling haven, with AHRMA races, a dirt
track race, a huge swap meet with over 1,100 vendors, an auction and other
events to keep two-wheeled enthusiasts enthralled.
This year, Ducati is
the featured marque. Pre-registration is closed, but there’s loads of
information at www.amadirectlink.
Following right on the heels of AMA Vintage Motorcycle Days is the BMW
Motorcycle Owners Association (MOA) rally, to be held this year in Lima,
Ohio, from July 21 to 24. The MOA Rally is in its 33rd season and, as always,
BMW Motorrad USA is involved, offering demo rides and lots of goodies for
prospective BMW owners. BMW rallies are known for camping, and the MOA rally
is no exception. Entertainment this year is provided by George Thorogood.
Oh, and there’s a beer tent.
Preregistration is closed, but you can contact
the BMW MOA at (636) 394-7277 or learn more at http://www.bmwmoa.org/rally/rally05/index.htm>www.bmwmoa.org.
(This post originally appeared in the July 14, 2005, issue of the Hemmings eWeekly Newsletter.)


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EV startup Simple Energy plans to raise up to $15 mn
Simple Energy, the Bangalore-based EV startup plans to raise $15 mn in Series A. This round of Series A is expected to be closed by the third quarter of this year and might be backed by VCs based in India and New York.
This Bangalore-based start-up had also recently released the testing images of the prototype version of the production vehicle earlier this month, post raising pre-series funding of an undisclosed amount.
While Simple Energy plans to deploy 60% of the funds to establish a state-of-the-art manufacturing facility that will boast a production capacity of 50000 units, the rest of the funds will be utilized in setting up the experience centers, and expansion of the manpower.
Speaking on this, Mr.Suhas Rajkumar, Founder, and CEO of Simple Energy said; "We are looking to raise these funds to scale our operations and our building synergies with investors. In the next two years, we are aiming to be a dominant player in the electric mobility segment. We are also developing indigenous technology in the powertrain of the vehicle which will be the foundation to our upcoming products"
The launch of the flagship e-scooter shall be in the mid of this year with pre-bookings beginning from the launch day itself, followed by the deliveries soon after. Simple Energy aims to produce and sell 50000 units in the first 12 months of the launch.
As per the product specs revealed, the Mark 2 will have a 4.8 kWh lithium-ion battery, a claimed range of 240 km in eco mode, top speed of 100kmph, and 0-50 kilometers per hour acceleration in 3.6 seconds. Other key features a mid-drive motor along with a removable battery and futuristic design. It also comes with smart features like a touch screen, on-board navigation, Bluetooth, etc The e-scooter will be priced at Rs1,10,000 to Rs.1,20,000.
DISCLAIMER: This information is published as per the press release sent to us. It has not been verified or ratified by OVERDRIVE.


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What’s That Have to Do With the Price of Beer in Germany?
Dan Hamermesh, on his Economic Thought of the Day blog — it is excellent, and always fun — wrote this recently:
A disaster has occurred in Germany: The staple drink – beer – is rising in price. The reason is that there is a worldwide shortage of barley, a major ingredient in the brew. This has pushed up the price of barley, and shifted the supply curve of beer to the left. I would think that the shortage is temporary – with higher prices of barley, more farmers will plant the crop. That should alleviate the shortage, bring the price of this input back down, and after a year or two lead beer prices back more or less to their current levels. Not much consolation for those wishing to quaff the brew of the holidays, but their pain is probably going to be short-lived (and, if they drink enough, they won’t remember it anyway!).
One upside of this “disaster” is that there may be less crime in Germany, at least in the short run. Here’s what we wrote on the subject in a column about the economic impact of different weather events, including global warming:
Consider 19th-century Bavaria. The problem there was rain – too much of it. As Halvor Mehlum, Edward Miguel and Ragnar Torvik explained in a recent paper, excessive rain damaged the rye crop by interfering with the planting and the harvest. Using a historical rainfall database from the United Nations, they found that the price of rye was significantly higher in rainy years, and since rye was a major staple of the Bavarian diet, food prices across the board were considerably higher in those years, too. This was a big problem, since a poor family at the time would have been likely to spend as much as 80 percent of its money on food. The economists went looking for other effects of this weather shock. It turns out that Bavaria kept remarkably comprehensive crime statistics – the most meticulous in all of Germany – and when laid out one atop the other, there was a startlingly robust correlation between the amount of rain, the price of rye, and the rate of property crime: they rose and fell together in lockstep. Rain raised food prices, and those prices, in turn, led hungry families to steal in order to feed themselves.
But violent crime fell during the rainy years, at the same time property crimes were on the rise. Why should that be? Because, the economists contend, rye was also used to make beer. “Ten percent of Bavarian household income went to beer purchases alone,” they write. So as a price spike in rye led to a price spike in beer, there was less beer consumed – which in turn led to fewer assaults and murders.


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New 4-Inch 'iPhone 5e' Could Feature A8 Chip, 1GB of RAM, Apple Pay and VoLTE Calling
Chinese website cnBeta [Google Translate] is the latest source to claim Apple will release a new 4-inch iPhone early this year. The blog, citing Foxconn sources, shared many new details about the so-called "iPhone 5e" that we have broken down for comparison against previous 4-inch iPhone rumors below.
iPhone 5s and iPhone 5c, both released in 2013
- "iPhone 5e" vs. "iPhone 6c"
Apple's next-generation 4-inch iPhone has been given several names, including "iPhone 6c," "iPhone 7c" and "iPhone 5s Mark II," but this is the first report where it has been called "iPhone 5e."
The website claims "iPhone 5e" will represent an "enhanced" iPhone 5s and replace the latter in Apple's smartphone lineup once released. iPhone 5e would be Apple's new entry-level handset.
- A8 Chip with 1GB of RAM
The report says the "iPhone 5e" will be powered by Apple's 64-bit A8 chip and 1GB of RAM. Apple devices with an A8 chip: iPhone 6, 6 Plus, iPad mini 4, Apple TV 4, iPad Air 2 and the newest iPod touch.
Japanese website Mac Otakara also said the new 4-inch iPhone will have an A8 chip, without disclosing potential RAM, while Chinese website MyDrivers said the device will have an A9 processor and 2GB of RAM.
KGI Securities analyst Ming-Chi Kuo also said the 4-inch iPhone will have an A9 chip in a research note to investors, but that appears to be more of a prediction rather than supply chain evidence.
- 16GB/64GB Storage
The report claims the "iPhone 5e" will have 16GB base storage, with a 64GB model also available. Chinese website MyDrivers also said the new 4-inch iPhone will have 16GB base storage.
- iPhone 5s Camera
"iPhone 5e" will have the same rear-facing 8-megapixel iSight camera as the iPhone 5s, according to the report. If the "iPhone 5e" proves to be an "enhanced" iPhone 5s, then this makes sense.
No other reputable iSight camera rumors have surfaced about the new 4-inch iPhone, but Mac Otakara said the device will have an improved FaceTime HD camera with ƒ/2.2 aperture.
- Slightly Thinner and Lighter
The report claims the "iPhone 5e" will be lighter, implying that it will likely also be thinner. Mac Otakara previously reported the new 4-inch iPhone will resemble a sixth-generation iPod touch.
Mac Otakara now says the new 4-inch iPhone will have dimensions of 122.90 mm x 57.63 mm, which is fractionally thinner than the iPhone 5s. Apple could use 2.5D cover glass like the iPhone 6s.
- Apple Pay
Apple will reportedly add NFC and Touch ID to the "iPhone 5e" to support Apple Pay, which is not available on the iPhone 5s unless paired with an Apple Watch.
KGI Securities analyst Ming-Chi Kuo has also claimed the new 4-inch iPhone will feature Apple Pay to complete Apple's lineup of NFC-enabled devices.
- VoLTE Calling
The report claims the "iPhone 5e" will support VoLTE calling, allowing for wideband, high-quality phone calls on select carriers in the U.S. and nine other countries.
- Rose Gold and Colors
The report corroborates previous rumors claiming the new 4-inch iPhone will be available in Rose Gold and other existing iPhone colors.
Multiple reports claim the device will have an anodized aluminum finish like the iPhone 5s, rather than plastic casing like the budget iPhone 5c.
- Pricing and Availability
The report claims the "iPhone 5e" will launch in February-March, possibly around the Chinese New Year, lining up with multiple other reports claiming the new 4-inch iPhone will launch in early 2016.
Pricing could start at around 3,288 yuan ($500 U.S.).
cnBeta accurately reported on the iPhone 6s Plus's packaging and smaller battery, but also incorrectly claimed the A8 chip would top 2 GHz a few years ago.
Google and the three major U.S. carriers, including Verizon, AT&T, and T-Mobile, will all support a new communications protocol on Android smartphones starting in 2022, a move that puts pressure on Apple to adopt a new cross-platform messaging standard and may present a challenge to iMessage.
Verizon recently announced that it is planning to adopt Messages by Google as its default messaging...
We're just a few months away from when Apple is expected to reveal the 2021 iPhone, dubbed the "iPhone 13." In preparation for its launch, it has been pulling in shipments of different components needed to produce the new iPhones, according to a report from DigiTimes.
In years past, Apple released its latest iPhone lineup, alongside a new Apple Watch, during a September event at Apple Park....
We've seen a lot of teasers about the Beats Studio Buds over the past month since they first showed up in Apple's beta software updates, and today they're finally official. The Beats Studio Buds are available to order today in red, white, and black ahead of a June 24 ship date, and they're priced at $149.99.
The Studio Buds are the first Beats-branded earbuds to truly compete with AirPods...
For this week's giveaway, we've teamed up with MAXOAK to offer MacRumors readers a chance to win a Bluetti portable power station and an accompanying solar panel. Bluetti makes a range of portable power station options that are useful for camping, emergencies, power outages, off-grid living, and similar situations.
The Bluetti EB70 is a solid middle of the road option that offers 716Wh and...
Apple has published a FAQ titled "Expanded Protections for Children" which aims to allay users' privacy concerns about the new CSAM detection in iCloud Photos and communication safety for Messages features that the company announced last week. "Since we announced these features, many stakeholders including privacy organizations and child safety organizations have expressed their support of...
Apple has shared a new support document that indicates kernel extensions — which it calls "legacy system extensions" — will not be compatible with a future version of macOS because they "aren't as secure or reliable as modern alternatives."System extensions are a category of software that works in the background to extend the functionality of your Mac. Some apps install kernel extensions, which...
See update at bottom of article Spotify this week confirmed that its plans to add AirPlay 2 support to its iOS app have been placed on indefinite hiatus.
In an online discussion forum post, a Spotify representative said the streaming music service had been working on supporting AirPlay 2, but the company has paused the efforts "for now" due to "audio driver compatibility issues." The...
YouTube is planning to stop supporting its YouTube app on the third-generation Apple TV models, where YouTube has long been available as a channel option.
A 9to5Mac reader received a message about the upcoming app discontinuation, which is set to take place in March.Starting early March, the YouTube app will no longer be available on Apple TV (3rd generation). You can still watch YouTube on...
Apple recently dropped the $19.99 fee for OS X Lion and Mountain Lion, making the older Mac updates free to download, reports Macworld.
Apple has kept OS X 10.7 Lion and OS X 10.8 Mountain Lion available for customers who have machines limited to the older software, but until recently, Apple was charging $19.99 to get download codes for the updates.
As of last week, these updates no...
Google is rumored to be working on a new wireless charging stand that could deliver 23W of charging power to its upcoming Pixel 6 and Pixel 6 Pro phones, according to a leaked inventory image published by Android Police.
Image via Android Police. If true, that would beat the iPhone 12's maximum 15W wireless charging speed (or 12W on iPhone 12 mini) using Apple's MagSafe charger, and...


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On Wednesday, the Ministry of Home Affairs said that the Central Armed Police Forces (CAPFs) canteens will sell only indigenous products from 1 June. Taking to Twitter, Home Minister Amit Shah said that the decision was taken in line with Prime Minister Narendra Modi’s appeal to use local products. The decision will be applicable to all CAPF canteens across the country and will be implemented from 1 June.
The Home Ministry said that 50 lakh family members of about 10 lakh CAPF personnel will use indigenous products.
The news comes a day after PM Narendra Modi called for the making of a “self-reliant India” in a televised address. PM Modi had said that lesson from the current state of the world is that becoming self-reliant is the only path before India. “The state of the world today teaches us that a AtmaNirbhar Bharat is the only path. PM Modi said while announcing a Rs 20 lakh crore economic package for the country.
Shah today said that all canteens of the Central Armed Police Forces (CAPFs) like the CRPF and the BSF will sell only indigenous products from 1 June to 50 lakh family members of about 10 lakh personnel.
Shah said that PM Modi’s appeal for becoming self-reliant will certainly put India on the path of becoming a world leader. “In this direction, the Home Ministry has today decided that all CAPF canteens will sell only indigenous products. This will be applicable to all CAPF canteens of the country from 1 June, 2020. 50 lakh family members of around 10 lakh CAPF personnel will use the swadeshi products,” Shah tweeted.
Local is not just the need, it is our responsibility also,” he said in his address to the nation. The prime minister said from today every Indian has to become “vocal for their local”, not only to buy local products, but also to promote them proudly.
Time, the prime minister said, has taught us that “we must make the local as a mantra of our life”. “The global brands were sometimes also very local like this. But when people started using them, started promoting them, branding them, felt proud of them, they became global from local products,” he said.


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The Café at OutLoud!, 1707 Church Street, has closed its doors, making it the second time a gay coffee shop has closed in the same location.
A press release sent out Feb. 8, says that the Café is “is in the process of restructuring their business in order to better serve the Nashville community.”
Coffee, soft drinks and some prepared foods and desserts are now available at OutLoud! Books and Gifts. The couches and tables that were once in the Café have been relocated to the lounge area of the bookstore, and wireless Internet will remain available.
Ted Jensen and Kevin Medley are the owners of both businesses. It was on Nov. 11, 1996, that Outloud! Books and Gifts opened its doors.
“Unfortunately, a combination of a bad economy and slow business worked together to make keeping the venue going in it’s present incarnation difficult despite recent high-profile events that were held there including ‘Mary Gauthier and Friends,’ which raised almost $4,000 for OutCentral,” the news release stated.
John Wade, president of Nashville’s GLBT Chamber of Commerce said it was important for businesses to grow and thrive in the area that is known as Nashville’s “gay district” (the Church Street corridor just before downtown).
“The Chamber is disappointed to see another establishment in the community close. While we understand this to be a temporary closing, we also understand that business must be profitable,” Wade said. “It is our hope the owners can find a way to either manage a profitable café business or another one with consumer demand that would make it a worthwhile venture for them. The presence of vibrant businesses on Church Street is good for the community as well as the city. We hope the right formula for a business at this storefront will be found."
Events that have been scheduled for February in the Café space will still be held, though its not entirely clear what will happen past that point.
“The owners and management of OutLoud! Books and Gifts and Café OutLoud! are looking into ideas for restructuring the Café space in order to keep it as a performance and event space as well as other uses which are currently being researched,” the news release stated. “In the meanwhile, all events thus scheduled and advertised for Café OutLoud! for month of February will go on as scheduled with the exception of Sunday brunch.”
Those events include two art openings, "Read Our Lips," an original theatrical presentation of monologues in the tradition of Eve Ensler’s classic "The Vagina Monologues," and a night of music from Tasha Valentine featuring Kat Hunter. Thursday movie nights are still being held through the end of February as well.


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Google has announced it will start rolling out its huge new update for Gmail from next month. Users will have the option to opt out of using the new client for an additional four weeks. Admins can also let users opt in to the new Gmail when they want. That transition'll be automatic, but the opt-out option will still be made available for another four weeks after that.
The new weekly activity summary will give users deeper insight into how they use their phones. However iOS 12 is expected to introduce some improvements to Siri , one of which is a new app called Siri Shortcuts . This will be similar in concept to the Google Home Routines where users can group together a series of actions that can be executed with either a tap on the app or with a customized voice command.
New data protections require apps to get user permission before using the Mac camera and microphone or accessing personal data like user Mail history and Messages database. Mojave represents an initial step; for the first time, Apple-made iOS apps such as News, Stocks, Voice Memos, and Home are coming the operating system.
Compared to the Snapdragon 835 laptops, the new chipset promises a 30% boost in performance and 20% better battery life. Qualcomm today announced the Snapdragon 850 Mobile Compute Platform for Windows 10 on ARM devices. Furthermore, the chipset also supports LPDDR4X quad-channel memory, with high-resolution audio playback being enjoyed on wired as well as wireless audio headphones too, thanks to Aqstic and aptX audio.
Facebook Inc . has formed data-sharing partnerships with 60 device makers, including Apple Inc. and Microsoft Corp., giving them access to information of users and even their friends, a New York Times report has claimed. The firestorm erupted in March when it emerged that Cambridge Analytica , a consulting firm with ties to President Donald Trump's campaign, gained improper accessto tens of millions of Facebook users' data.
Apple is proud to support LGBTQ advocacy organisations working to bring about positive change, including GLSEN, PFLAG, The Trevor Project, Gender Spectrum and The National Center for Transgender Equality in the United States, and ILGA internationally.
Apple on Monday announced a new app to allow users to get reports on how much their kids are using particular apps on their iPhones and iPads. For people who want to take more control over their app usage, App Limits will let them set limits on the amount of time they spend in certain apps.
Some experts wonder if the problems with iOS will damage Apple's reputation for delivering quality devices. At the time, Apple said it was working on "new features and enhancements" to address the concerns, and in March it added a new webpage to educate parents about existing controls.
The survey found that teens are spending more time online than ever before. This is according to a survey made and released by the Pew Research Center . Facebook is still used by more than half of all teens aged 13 to 17, the survey results indicate. According to the survey , YouTube , Instagram , and Snapchat are the most popular social media networks amongst teenagers.
By purchasing GitHub, the company could increase adoption of its wide-ranging software, like Windows 10 ( which recently hit a big adoption milestone ) and the Azure cloud platform. Both Microsoft and GitHub haven't responded to requests for comment. Founded in 2008, GitHub hosts 27 million software developers working on 80 million repositories of code.
Gamers would be understandably skeptical of leaks coming from 4chan, but according to Kotaku , there is reason to believe that Fortnite for Nintendo Switch is true. The ultra-popular battle royale game also features cross-play between the various platforms its available on, with the exception of PlayStation 4 to Xbox One gameplay.
There is, of course, still a healthy secondhand market for film camera bodies out there, as many professional photographers still prefer to work with film. But it also adds that it may refuse fix after October 31, 2020 due to lack of replacement parts. While the camera on your phone can likely take better photos quicker and more easily, if you're craving the classic feel of film, there are a few companies that still manufacture 35mm SLRs, including Leica and Nikon.
Valve Software said in a statement Tuesday the developer, Revived Games, and ACID were removed from Steam . Berdiyev, meanwhile, was previously booted from Valve' platform after releasing a game called Piccled Ricc based on an episode of Cartoon Network's " Rick and Morty ".
The Xiaomi Mi 8 , which incidentally skips the 7 in favor of the number 8 to mark the company's eighth year, shares a similar notch design and vertical rear cameras. Is this your new phone? It sports a 5.88-inch FHD+ OLED display. The rear comes with the features like 2x Zoom dual pixel phase detection autofocus and has a dual LED flash.
Inside, the Mi 8 is powered by a Snapdragon's 845 processor, the same chip you'll find in most other Android flagships including the LG G7 and Samsung Galaxy S9 . It's not surprising since we've been hearing about the new Xiaomi Android phone the past few months. The 3.5 mm audio jack was ditched back in 2017 with the announcement of the predecessor Xiaomi Mi 6, but there is USB-C for all the connections.
Google recently unveiled similar AR object-saving functionality under the name Cloud Anchors at its I/O developers' conference, sweetening its offering by including both Android and iOS compatibility. Said to be missing at WWDC this year: new hardware. Bands from the current Apple Watch models will still be compatible with the new timepieces.
In the picture below, you can see this collectible gift is labelled - Assassin's Creed Odyssey . Earlier today, we broke a story about the next step for the iconic Assassin's Creed franchise equipped with a location and even photos of merchandise.
It all started on May 29 when the Bethesda Game Studios Twitter account sent out a tweet that featured the familiar "Please Stand By" screen from previous Fallout games. While Reclamation Day is obviously when the inhabitants of Fallout 76 leave the Vault to reclaim the Earth above, it's not a thing we've seen or heard of before.
From hardware to software, here's taking a look at every aspect of the Pixel 3 and Pixel 3 XL that has been rumoured and speculated so far. The Pixel 3 XL's notch will earn its keep in part by including not one but two front-facing cameras, sources say.
In addition to Xbox Game Pass, Games With Gold offers a pretty simple way to rack up free games from month to month so you don't have to part with as much cash. It's not just racing, it's racing transformed! Lego Indiana Jones 2: The Adventure Continues features scenes from all four of the Indiana Jones movies, along with two-player split-screen gameplay.


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Fifth annual Irish Made Awards has two fitting new sponsors
Irish Country Magazine has announced the launch of the fifth annual Irish Made Awards with two fitting new sponsors for 2021 – Guaranteed Irish and the Design & Crafts Council Ireland (DCCI).
As Irish producers look for new ways to shine a light on their business amidst the challenges of the pandemic, the Irish Made Awards offer a boost to businesses in the form of expert advice and mentorship from sponsors the DCCI and Guaranteed Irish, together with an advertising package from Irish Country Magazine.
The Irish Made Awards seek to recognise businesses that stand out in terms of their vision, craftsmanship, and determination to produce incredible products here on Irish soil. Not only do these Irish businesses and brands support local employment, they are the ambassadors for Irish design and production that inspire others to follow their lead and develop their ideas and art here in Ireland.
Mayo-based Foxford Woollen Mills was an Irish Made Award winner last year.
Commenting on the launch of this year's Irish Made Awards, Klara Heron, editor of Irish Country Magazine, said: “The last 12 months have seen many businesses pushed to their limits as they try to weather the pandemic storm, keep afloat and retain staff. We have all had to work harder than ever, but for many brands it has also provided an opportunity to refocus on what our customers value most.
“For us at Irish Country Magazine, it is our celebration of all things Irish in every issue of our glossy magazine. In fact, it is this love of sharing Irish made products that brought about the creation of the Irish Made Awards. Growing bigger every year, last year the Irish Made Awards had over 350 entrants across 10 categories and a final tally of 54,000 online votes.”
Brian McGee, market development director at Design & Crafts Council Ireland and co-sponsor of the Irish Made Awards 2021, added: “As a long-time sponsor of the Irish Made Awards, Design & Crafts Council Ireland is once again encouraging all makers to enter. The competition is tough, but so many exceptional designer-makers have come through each year to win a prize.
“During the pandemic, the Irish consumer has shown amazing support for all things ‘made local’, and so many of our talented makers have used this time wisely, researching and developing new products and enhancing their websites.
“So we are extremely excited to see the new and creative ideas emerging from such a tough year. Taking part in the awards provides publicity and recognition for the great work done by makers in villages and towns all over Ireland.”
Guaranteed Irish is the co-sponsor of the Irish Made Awards 2021, and CEO Bríd O'Connell commented: “This year presents us with a unique opportunity to reinforce the behavioural changes of Irish consumers, who are now consciously buying Irish goods to support local as a result of the pandemic and now Brexit.
“Never before has the importance and indeed the economic value of buying Irish been so prevalent. The shift of consumer attitudes and behaviours towards buying Irish has become a lifestyle choice, just like our focus on sustainability. The pandemic has forced us to see the difference that buying Irish can make to a person's livelihood first-hand.
“Guaranteed Irish is calling on all Irish retailers to stock at least one Irish producer from craft and textiles to lifestyle and beauty. We all want to support local, but we also need to support Irish, there is a difference. By being mindful of this, we are keeping the money in the local economy while championing our local producers.”
The overall winner of the Irish Made Awards 2021 will receive an incredible prize worth €16,000 to seriously boost their business. This includes an advertising package with Irish Country Magazine, participation in the DCCI Design Ireland Programme and e-Commerce Bootcamp, plus a one-year membership from Guaranteed Irish with one-to-one mentoring. Category winners and runners-up will be featured in a special Irish Made Awards issue of Irish Country Magazine in October.
Judges handpick the category finalists, with winners decided by combining the public vote and judges’ vote. The Irish Made Awards 2021 judges are: Klara Heron, editor, Irish Country Magazine; Brian McGee, market development director at the Design & Crafts Council Ireland; Bríd O'Connell, CEO, Guaranteed Irish; Eddie Shanahan, branding and retail consultant; Russell James Alford and Patrick Hanlon, GastroGays.com; Ruth O'Connor, fashion editor; Sonia Deasy, founder of Pestle & Mortar; Anna Daly, TV presenter and founder of Little Bliss; Chupi, jewellery designer; and Róisín Healy, deputy editor, Irish Country Magazine.
There are 10 Irish Made Award categories: fashion, accessories, jewellery, textiles, beauty, home, gift, furniture, food, drink.
The Irish Made Awards are open to all Irish businesses, big and small, that manufacture their product in Ireland. See https://irishcountrymagazine.ie/awards for more information.


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Several united state cities have actually set up taxes on beverages with added sugar in order to reduce usage, however brand-new research study suggests these plans currently have one achilles’ heel.
The study found that sugary drink taxes just minimize purchasing if price tags at shops state that customers are paying that tax when they purchase the beverage.
“If cities desire these plans to be reliable, they require to control just how these sweet drinks are labeled at the shops where they are sold– as well as they currently don’t do that,” claimed Grant Donnelly, lead writer of the study and also aide teacher of advertising and marketing at The Ohio State University’s Fisher College of Company.
The searchings for suggest that price tags ought to discuss the tax obligation, yet not the quantity, since consumers tend to overstate how much the tax is, Donnelly claimed. If they recognize the true dimension of the tax, they are extra happy to pay it.
Among the cities that presently have a tax on sweet drinks are Philly, San Francisco, Seattle, and Boulder.
The research study was released online just recently in the journal Psychological Science.
The research included a field research at two corner store in San Francisco, which presently has a tax on sweet drinks of 1 cent per ounce– an included 12 cents to a 12-ounce drink.
Researchers differed the price tags put on the sweet drinks over the eight-week research study. There were three price tags that were rotated: One that merely said the rate for the 12-ounce drink ($1.52); one that had the cost as well as the message “Consists of SF Sugary Drink Tax”; and also one that consisted of the very same message as well as included that the profits of the tax obligation would certainly support local college student programs.
All non-sugary beverages, which were exempt to the tax obligation, merely had the cost of the beverage, which was $1.40.
The scientists compared sales of the drinks throughout the research study period to both instantly coming before weeks. Throughout this time, the sweet beverage tax obligation was in effect, however there were no price tags on any kind of drinks. They additionally contrasted sales to the two years preceding the tax obligation.
Outcomes revealed that sales of sugary drinks were not reduced throughout both weeks prior to the study began, compared to sales in the two years prior to the tax. To put it simply, the tax obligation itself did not minimize acquisitions of sugary beverages.
The scientists then checked out the effects of the 3 different price during the course of the research.
Outcomes revealed that the share of sugary beverages got when the tags merely showed the price (47%) was not substantially various from the two-week duration before the research study.
However the share of sweet beverages bought did decline slightly (45%) when the tags discussed the rate consisted of the added tax obligation.
Outcomes revealed that the majority of customers that picked to avoid sugary beverages with the added tax obligation selected a drink that was exempt to the tax.
“Consumers are averse to taxes, so when they discover that their favorite drink has this sweet drink tax, some are less interested in buying it,” Donnelly claimed.
“They normally replacement for much healthier beverages, like bottled water. So the tax obligations do not seem to injure the shops that market beverages.”
Tags that kept in mind where the taxes would be invested had no significant effect past the tags that just noted the added tax obligation.
In a different online research, the researchers asked individuals that consumed sugary beverages to estimate what the tax would certainly get on a 12-ounce can of their favored drink that set you back $1.52. The ordinary price quote was 40 cents– much more than the 12 cents actually imposed in San Francisco.
Another research study discovered that when consumers were informed the tax obligation was just 12 cents, they reported they were much more most likely to still acquire the beverage.
“People do not such as tax obligations, but they assume this tax obligation is much higher than it really is,” Donnelly said. “If you inform customers truth price of the tax, it is no more effective in minimizing purchases.”
The bottom line, he said, is that if cities want these plans to be effective at decreasing consumption of undesirable beverages, they must mandate that tags state the added tax– but not reveal how much it is.
Co-authors on the study were Paige Guge and also Ryan Howell of San Francisco State University and Leslie John of Harvard College.


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Shopper Sanetra Thompson is among thousands of Floridians who are planning to spend more money this holiday season than they did in 2003.
Sanetra Thompson says, "Last year I didn’t spend as much because my daughter is only two. She’ll be three next year so I’m spending more this year."
Eight out of 10 Florida retailers are expecting holiday sales to be at least as good or better this year than last. That may sound surprising on the heels of a year that saw catastrophic storms hit almost every county in the state.
But the Florida Retail Federation says we were in good economic shape going into the hurricanes and we have rebounded strongly.
Obviously Florida’s hurricanes will affect the shopping season. Retailers expect they’ll see a difference in the types of gifts people will buy this year.
Bill Herrle of the Florida Retail Federation says, "We think spending will be up overall, but the product selection may be a little bit different. That dishwasher that might not have been the best Christmas present last year might be a little more practical and a little more well received Christmas present this year."
Chris Moleski is looking at a very practical vacuum cleaner for Christmas and she’s thinking practical for the kids, too.
Chris Moleski says, "Our kids are getting older, so we’re looking for more useful things, less toys and more things we can do together, bikes, roller blades, things of that sort."
Some families in hard-hit areas will just be happy to have a roof over their heads this holiday season, but for the most part, retailers expect to ring in the new year on a positive note.


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Toyota announces new technology and prices for the 2014 Camry and Rav4.
Read This Article
Could your next ride back from the Bellagio be in a Johnny Cab?
The Toyota Camry has reached the milestone of surpassing 10 million sales in the U.S.
Starting with the 2013 model year, the Toyota Avalon Limited will offer in-console Qi wireless charging for all mobile devices that are Qi-enabled.


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Huawei, Oppo, Vivo, Xiaomi, and Realme combined market share reaches highest-ever 42%.
Overall smartphone shipment declines by 1%.
Realme enters the top 10 brands for the first time.
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The combined global smartphone market share of Chinese smartphone-makers Huawei, Oppo, Vivo, Xiaomi, and Realme (HOVXR) reached 42 percent -- the highest ever -- even as global smartphone shipments fell by 1.2 percent year-over-year (YoY) to 360 million units during the second quarter of 2019, making it the seventh consecutive quarter of decline, Counterpoint Research has said in its latest report.
The market research firm attributed heavy marketing, faster portfolio refresh, high spec devices at aggressive prices, and multi-channel presence as some of the key reasons why the Chinese brands fared better than other global OEMs. This happened even when the Chinese smartphone market continued to decline. China alone accounts for over one-fourth of the global smartphone shipments and declined by 9 percent YoY during the quarter. Meanwhile, India remained a key growth market as the shipments set a second-quarter record.
“The US-China trade war escalated with Huawei added in the entity list in May. Despite the ban, Huawei was able to register a 4.6 percent growth during the quarter, capturing a 16 percent market share. The effect of the ban did not translate into falling shipments during this quarter, which will not be the case in the future. In the coming quarters, Huawei is likely to be aggressive in its home market and register some growth there, but it will not be enough to offset for the decline in its overseas shipments. This will further lead to the decline of the overall smartphone market in 2019. However, the gap created in the market by Huawei gives a window of opportunity to other OEMs, especially Samsung, to leverage,” Tarun Pathak, Associate Director at Counterpoint Research, said in a statement.
Varun Mishra, Research Analyst at Counterpoint Research noted, “We expect that 5G will have a faster rollout than 4G LTE. Unlike 4G, which was split between FDD-LTE and TD-LTE, 5G has a universal standard, which will make the ramp-up faster. We expect sales of 5G devices to be over 20 million in 2019. Network expansion of carriers, subsidies, and more OEMs committing to early 5G device launches than during the early 4G era Since these devices are expected to be limited to the premium segment in 2019, the adoption will also drive the market average selling price (ASP). Consumers are also expecting to pay higher for the 5G smartphone than what they paid for the 4G device.”
The firms says that a portion of the decline in 2019 is likely to be compensated by the adoption of 5G. Even though shipments has continued to decline, the market Average Selling Price (ASP) is likely to increase, which will drive revenue for the industry. The adoption of 5G in mature economies and the shift from entry-level phones to mid-segment phones in emerging economies will drive up ASPs, Counterpoint Research said.
Samsung grew by 7.1 percent (YoY), capturing over one-fifth of the global smartphone market share. The OEM has completely overhauled its product portfolio in 2019 with its A and M series targeting the sub $300 price segment aggressively. Huawei grew by 4.6 percent (YoY), but the US trade ban will affect its growth momentum, especially in the overseas market. The effect in Q2 2019 was not severe because the order came late into the quarter. The real effect of the trade sanction will be in Q3 2019, it said.
Apple iPhone shipments fell by 11 percent, and iPhone revenues fell by 12 percent year-on-year. This was the third consecutive quarter of decline in Apple iPhone shipments. To ramp up sales, Apple implemented price cuts for the iPhone XR in India and China markets. Realme entered the top 10 OEMs globally for the first time. It took Realme only one year to achieve this feat. This was also the third consecutive quarter that Realme sold within the top 5 brands in India.
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You probably don't want to find these Amazon.com oddities waiting under your tree.
From cashmere to comforters, the discounts may seem good now, but just wait until the holidays are over.
What will kids be begging for this holiday season? Expect a lot of classic toys with a high-tech twist, according to TimetoPlayMag.com, which released its list of the year's hottest toys.
According to Truecar.com, seven out of the nine best days to buy a car are in December. Here are some tips on how to negotiate the best deal.
AAA holiday travel forecast: Despite continued worries about the economy, 91.9 million Americans are expected to go somewhere this season.
Tens of thousands of protesters have flooded the streets of Hong Kong to demand open elections free from Beijing's influence. Eight protesters explain why they're ...
From the Microsoft Zune to the BlackBerry PlayBook, the Fire Phone is following in some unfortunate footsteps.
They may have million dollar-plus nest eggs, but they had to make some big sacrifices along the way to get there. Here's what these four savers did without in order to ...
For an exclusive CNNMoney list, research firm Universum Global surveyed college students around the world to see where they most want to work.
From ebooks to phone service, here are some tips for living your digital life on the cheap.
The new Ford Mustang has been upgraded and updated to compete globally - but never fear, it's still a monster.
Some CEOs and founders agree to salaries of just $1 a year. But once goodies like bonuses and stock options are added in, some of those executives end up taking home ...
Turn heads as you blow by traffic in this roadster convertible from Mercedes.
CNNMoney looks at the five states with the biggest differences in middle class incomes.


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As the Bank of Japan continues to expand quantitative easing, Wolfgang Koester warns that holders of U.S. equities will soon start feeling the effect of the weakening yen.
Continue Reading Below
Koester, FiREapps Chairman and CEO, warns that some companies in the United States aren’t taking enough action to protect themselves against currency volatility -- and the consequences will be clear in this quarter’s earnings.
“Some of these companies have actually come out and said we’re hopeful that the yen doesn’t weaken, said Koester, “Well, unfortunately, that wasn’t true.”
The Japanese Economy Minister, Akira Amari, insists the country isn’t aiming to weaken the yen, but is only attempting to fight deflation. Still, in the past quarter the U.S. dollar strengthened from 78 cents per yen to 87 cents per yen.
“Companies that did business in Japan will be receiving 11% less in cash,” said Koester. “When we’re talking about an 11% change in value in the yen, in one quarter, this can be a significant number if not hedged.”
According to Koester, investors should be wary of companies that do a significant amount of business in Japan. Several companies acknowledged the impact of a weakening yen in previous earnings reports and Koester predicts their profit margins were even more severely impacted by the dollar-yen relationship in the fourth quarter.
Koester calculates that Corning (NYSE:GLW), Harley Davidson (NYSE:HOG) and Ralph Lauren (NYSE:RL) will feel the worst effect of the declining yen, but the ripple effect will also reach companies like Biogen Idec (NASDAQ:BIIB) and Salesforce.com (NYSE:CRM).
McDonald’s (NYSE:MCD) and Coach (NYSE:COH) both claimed currency volatility weighed on their results in the last quarter. In an earnings call, McDonald’s CEO, Don Thompson, said currency translation accounted for a negative impact of one cent in fourth-quarter EPS, and full year EPS by 17 cents.
“McDonald’s got significantly hit by this. It was pretty obvious,” said Koester.
Coach opened five new stores in Japan during the last quarter and still saw a decrease in revenue from Japanese sales. “In Japan, we posted a 2% decrease in constant currency while sales in dollars were down 7% from prior year, reflecting the weaker yen,” said Coach chairman and CEO, Lew Frankfort.
Koester points out that some companies are taking the necessary measures to protect shareholders from the dangers of a stronger dollar versus the yen. Yahoo "is well-prepared; they’ve done risk management properly for years. I know they’ve got other things they’re thinking about and currency may not be the number one, but when it comes to financial risk management -- solid company.”
To determine which companies will successfully hedge against currency woes, Koester looks for low numbers on foreign exchange gain or loss line in earnings releases. Koester ranks Pfizer (NYSE:PFE), Avnet (NYSE:AVT), Accenture (NYSE:ACN) and FLIR (NASDAQ:FLIR) as the companies most prepared to handle the yen’s volatility.
“These are companies that over the past few years have not been affected by currency volatility in comparison to others in their sector” said Koester.
In the third quarter of 2012, Koester calculated S&P 500 companies lost $22.4 billion due to currency volatility. He says currencies could prove to be just as damaging in fourth quarter results. While the main fourth-quarter concern worldwide was the yen’s value, Koester points out that this will likely change in the next quarter.
“The only difference is what currency is next. I’m going to be sitting here in three months and we’re going to talk about maybe the yen, but maybe we’re going to talk about Brazilian Real and what companies that will be impacted,” said Koester.
Koester’s Likely to be Negatively Impacted by Yen Weakness:
- Columbia Sportswear
- Harley Davidson
- Sigma Aldrich
- Philip Morris
Koester’s Best Prepared for a weaker Yen:


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¶Sonic Corporation, Oklahoma City, named Goodby, Silverstein & Partners, San Francisco, part of the Omnicom Group, as its creative agency of record. The assignment, with spending estimated at more than $100 million, had been handled by Barkley, Kansas City, Mo., which will continue to work for Sonic on tasks like public relations and cause marketing. Sonic also recently changed media agencies, shifting that assignment to Zenith, New York, part of the ZenithOptimedia unit of the Publicis Groupe, from Barkley. Goodby, Silverstein had most recently created campaigns for Denny’s. Sonic will also continue to work with agencies like Euro RSCG Discovery, part of the Euro RSCG Worldwide unit of Havas, for assignments like customer relationship management, and Lopez Negrete Communications, Houston, for ads aimed at Spanish-speaking consumers.
¶Mohegan Sun, Uncasville, Conn., selected People Ideas and Culture, New York, as agency of record on its account. The assignment, with spending estimated at $15 million, had been handled by Kirshenbaum Bond Senecal & Partners, New York, part of MDC Partners. People Ideas and Culture will lead a consortium of agencies to work on the Mohegan casino account, which includes Horizon Media, Naked Communications, Profero and T.A.G.
¶Krispy Kreme Doughnut Corporation, Winston-Salem, N.C., selected Barkley, Kansas City, Mo., as its agency of record as the company consolidates assignments for tasks like advertising, media planning and buying, social media and digital work, which were handled by various agencies. Spending was not disclosed; it was estimated at $1.5 million for 2009. Dwayne Chambers, the new chief marketing officer at Krispy Kreme, had worked with Barkley when he was vice president for marketing at the Sonic Corporation from 1999 to 2003.
¶Bank of the West, San Francisco, chose Heat, San Francisco, as its advertising agency of record. The assignment, with spending most recently estimated at $13 million, had been handled by Hoffman/Lewis, San Francisco.
¶Alex Bogusky, formerly of Crispin Porter & Bogusky and MDC Partners, is joining the Alliance for Climate Protection, Washington, as creative director and chief marketing officer. Mr. Bogusky has been focused on environmental, social and consumer issues since he recently left the advertising industry. He will be seeking the help of executives from advertising and marketing companies to find new ways to discuss climate change on behalf of the alliance, whose chairman is Al Gore.Continue reading the main story
¶Kash Sree joined SS&K, New York, as partner and chief creative officer. He succeeds Marty Cooke, who left last summer to become United States chief creative officer at Rapp, New York, part of the Omnicom Group. Mr. Sree had most recently been executive creative director at Pereira & O’Dell, San Francisco.
¶Norm Yustin was hired by the Chicago office of Euro RSCG Worldwide, part of Havas, as one of two presidents, joining Joy Schwartz. The other president, Jamie King, is leaving to open an agency in San Francisco, Camp & King, with Roger Camp. Mr. Yustin had been global chief marketing officer at Claire’s Stores. Havas will take a minority stake in Camp & King; Mr. Camp had most recently been chief creative officer at Publicis & Hal Riney, San Francisco, part of the Publicis Groupe.
¶Gustavo Martinez joined the McCann Worldgroup, part of the Interpublic Group of Companies, as president for European operations, to be based in Milan. He succeeds Brett Gosper, who had been based in London; he is leaving, the agency said, to pursue other opportunities. Mr. Martinez had been director for global brand management and global new business director at Ogilvy & Mather Worldwide, part of WPP.
¶Thomas Hjelm joined New York Public Radio as vice president and chief digital officer, a new post. He had most recently been senior director for content strategy and business operations at NBC Local Integrated Media, New York, part of NBCUniversal.
¶Kevin Gilbert joined Trisect, Chicago, as chief strategy officer, a new post. He had been vice president and strategic planning director at Arc Worldwide and Leo Burnett, Chicago, part of the Publicis Groupe.
¶Advertising sales at the Web sites of broadcast television stations rose 14 percent last year from 2009, according to a report prepared by Borrell Associates for TVB, New York. Online revenue composed 6 percent of total gross revenue, the report said, compared with 3.5 percent three years ago.
¶Parade Publications, New York, part of Advance Publications, plans to introduce this week the first issue of Dash, a monthly food magazine that will be carried, like Parade, in newspapers. The first issue has advertisers like Campbell Soup, Hormel, Jelly Belly, Kellogg and the WhiteWave division of Dean Foods.
¶Dentsu West, part of Dentsu, acquired Firstborn, New York, a digital agency that works for clients like Aflac, PepsiCo and the Wm. Wrigley Jr. division of Mars. Financial terms were not disclosed. Firstborn will operate with current management as an autonomous unit of Dentsu West, which has made other acquisitions recently like McGarryBowen and 360i.
¶H2O Associates, New York, was acquired for undisclosed financial terms by Peppercom, New York. It will continue to operate under its name and current management.Continue reading the main story


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Global lifestyle brand MINISO is to open at Basingstoke’s Festival Place.
The design-led retail store will offer a range of high-quality, affordable products including toys, tech, stationery, homeware, food and beauty – as well as products from partnerships with well-loved brands such as Disney, Toy Story, Minions and We Bare Bears.
This will be the brand’s eighth franchise in the UK and the 17th store overall and it will open at Basingstoke Festival Place on Saturday 10 December at 12pm.
A number of activities will take place to celebrate the launch, including an opportunity to meet MINISO’s mascot PenPen, a high-energy drumming performance, and free gifts (worth over £25) with every purchase of £5 or more for the first 150 customers. The 2,580 sqft store unit will be located in the lower mall, near Next.
Saad Usman, COO at MINISO UK, said: “We're delighted to announce the launch of our store at Festival Place. We believe that the opening of this store, our first in Hampshire, is the perfect place for us to continue our expansion in the UK.
“At MINISO UK, we’re committed to getting the retail industry back on its feet, demonstrated not only by the investment into our fantastic new store, but also the creation of 10-15 new jobs in the local market.
“With innovative and exciting products that are high-quality and great value, we look forward to welcoming customers of all ages through our doors on opening day and beyond.”
Centre Director Neil Churchill said: “It’s fantastic to welcome MINISO to Festival Place. We’re delighted this excellent global brand is joining our ever-expanding retail offering, and we’re confident the new store will prove to be a hit with our customers.”


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- Balenciaga is under fire over a recent series of holiday ads.
- Influencers and TikTok users are filming themselves cutting up their own designer goods.
- While it can relieve anger, it doesn't quite move the needle for the larger cause at stake.
Just after Thanksgiving, 3.6 million people watched as Gianna Avalos cut through her $1,500 Balenciaga leather bag.
Avalos's video was a personal protest of the Spanish luxury brand — a favorite of celebs like Kim Kardashian and Julia Fox — that's been accused of sexualizing young children in a recent holiday ad campaign. Earlier this week, she told Insider that destroying her Balenciaga tote was meant to raise awareness about the brand's misdeeds.
"There is a reason why I didn't throw away, repurpose, donate, or sell the bag. I no longer desired for this bag to have a place in our society," the mother of one said.
It's a profound thought and a principled gesture. We do, after all, hold people with a platform of any kind accountable to speak up about important human rights issues (Kardashian called the ad campaign "disgusting" and said that she's now "reevaluating" her relationship with the brand). That's what Avalos did — or, at least, that's what she intended to do. Yet it's difficult to say whether what she's done will actually move the needle.
In recent years, brands from Nike to Chanel have been the subject of social media destruction campaigns, with users taking to Instagram and TikTok to publicly ruin their luxury goods. Users have gained millions of views by setting fire to their Yeezys or taking scissors to their Chanel bags. Like so much these days, if it doesn't happen in front of a camera, it's like it hasn't happened at all.
This is not to undermine what Avalos and many others are doing — they're rightfully upset with the designer brand. Consumers may have made peace with the loss of thousands of dollars in value. Still, it's hard to say whether destroying their personal property will do much to influence Balenciaga or affect its $2.3 billion dollar bottom line.
The comment sections of some of these viral protests are trying to answer this. Fans have written "respect" and "proud of you" to Serbian musician MC Stojan who cut into his green Balenciaga sneakers. But other top comments noted that acts like his wouldn't hurt Balenciaga much. "They already got your money," some noted.
Some wondered if taking to social media to destroy its luxury goods inadvertently raised Balenciaga's profile. "Am I the only one who thinks that by influencers doing this, they increase the value of Balenciaga?" one wrote.
Lindsey Solomon, the owner of Lindsey Media, a PR firm for fashion brands, told Insider the bad press and backlash against Balenciaga will absolutely raise the company's visibility. And product sales — if they don't go up because more people are aware of the brand now — won't be threatened at all.
"More than anything, it'll provide a spotlight on Balenciaga for non-fashion consumers or middle America," said Solomon. "It's not going to affect them in the long run, in terms of sales, it's sort of a blip in their year, really."
He predicts that six months from now, people will forget about the controversy altogether. And the brand, known for pulling stunts designed to get the internet riled up, will launch a more positive ad campaign that will naturally have more people paying attention to it and supersede its current controversy.
"Controversy is their best PR tactic. Whether it's unintentional or planned out, they're going to use it to the best of their abilities," he said. "People like to take their moral high ground. But it's not going to change their consumer habits."
And as long as Balenciaga maintains its status among the uber-rich and famous, it has no incentive to rethink its values. (By the way, its new Le Cagole handbag was named an "it" bag among celebrities this year.)
"I don't think Balenciaga is going to change their ways. People are still going to buy; they still love their shoes; they still love their bags," Solomon added.
Still, people may continue to take fire and scissors to their own purchases to express their moral indignation. Over the years, it's become a part of the cycle of corporate outrage. In October, a man filmed himself burning his Yeezy shoe collection in a stand against rapper Kanye West's antisemitic remarks. And earlier in the year, Russian influencers butchered their Chanel purses to protest the company's decision to stop selling Chanel goods in Russia.
Those standing against social equality have even taken up this form of protest. In 2018, people burned their Nike apparel after the company released an ad featuring Colin Kaepernick.
There is, of course, a cynical side to all this, too, as some use these corporate controversies to flog their own profiles. On Friday, a press release was sent out on behalf of Brazilian microinfluencer Luana Sandien announcing that she'd destroyed a Balenciaga dress she'd planned on wearing to an upcoming awards show.
Attached were several videos and images of Sandien taking scissors to her black gown and then tearing the rest apart with her bare hands.
What makes this protest particularly hollow is that it's a self-selecting group of consumers who can even participate. Most of us can't afford to purchase Balenciaga, let alone destroy it. We can't hit them where it really hurts: their wallets.
Solomon empathizes with those who care deeply about protecting children. But, he says, Balenciaga is a brand that historically flirted between edgy and over the line. Instead, he says, the target should be on institutions that enable the sexualization and exploitation of children, not just one company.
"People want to stand for something, but fashion is full of contradictions," he said.
"People are right to be upset with the ads, but we allow pedophilia and the hypersexualization of children on a global scale. It exists in society on a micro level and macro level, from Hollywood to people's homes. Ultimately Balenciaga is not the only one. And we're not doing anything productive to change things."


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January 28, 2020
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ISTANBUL (Reuters) – Turkey said on Wednesday new coronavirus measures limiting the working hours of restaurants and cafes and introducing a partial lockdown on weekends will take effect from the evening of Nov. 20, according to an interior ministry statement.
Restaurants, cafes, shopping malls and hairdressers will only be allowed to operate from 0700 GMT to 1700 GMT, the statement said, while restaurants and cafes will only be open for takeaway and delivery services.
Under the new curbs, which will take effect from 1700 GMT on Friday, cinemas will be closed for the rest of the year.
The government said on Tuesday it would impose tighter coronavirus measures as cases surged in recent weeks. Ankara reported 3,819 new symptomatic cases on Tuesday and 103 COVID-19 deaths in the country, taking the total death toll to 11,704.
A partial lockdown will also be introduced across the country over the weekends until further notice, the interior ministry said, adding these would not disrupt supply and production chains.
Writing by Ezgi Erkoyun; Editing by Ana Nicolaci da Costa
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Some of the DDoS Attacks never detected have been revealed by cybersecurity company StormWall.
This specific botnet, which enabled DDoS attacks of up to 2TB / s, sets a new record over the lifetime of the Internet as we know it until now. 'now.
Hailing from Spain, the botnet, which included 49,000,000 servers, was openly available for rental online, starting at $ 2,500 for two days of use.
Thebotnets are networks of hacked computer devices used to perform cyberattacks .
According to Stormwall, most of the DDoS attacks detected were directed against the gaming industry.
"The attacks carried out by the new botnet are fairly standard and it can launch attacks using UDP, TCP and HTTP protocols (at the seven of the OSI model) with browser emulation, "the company said.
" Attacks of such power affect not only the victim but also the entire chain of its suppliers and can cause problems accessing the Internet at the same time for hundreds of thousands of users and online resources. "
Hackers have access to the Internet.New tool for about a month, StormWall adding that only cloud-based DDoS protection services with sufficient network filtering capacity will be able to cope with the scale of attacks caused by the botnet.
Earlier this year, the company reported 25.4% more attacks against its customers During its first quarter of 2021 and into the fourth quarter of 2020, businesses in e-commerce, construction,


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More info about Samsung's upcoming Android Go smartphone leaked out0
We already know the Galaxy J2 Core will be equipped with a quad-core Exynos 7570 processor and 1GB RAM, but now we've learned that it will also feature dual-SIM support. As a matter fact, Samsung Galaxy J2 Core offers hybrid dual-SIM support, which means one of the slots can be used to expand internal storage.
Also, the back cover is removable as seen in the phone's manual that has just been leaked online. In order to insert the SIM cards, you'll have to completely remove the battery. A micro-USB port is included as well, which isn't surprising considering that we're talking about a budget-friendly smartphone.
Although it's an Android Go smartphone, some of the pictures included in the manual show Samsung apps are pre-installed on the Galaxy J2 Core, such as Galaxy Apps and Smart Switch. It remains to be seen when exactly Samsung will introduce its first Android Go smartphone and how much it will cost, but we won't be surprised to see this one showcased at IFA 2018 later this month.


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When the government unveiled a plan for providing essential medicines free of charge in all public health facilities in the country, the step was considered a game changer. However, since its announcement, the free medicines initiative seems to have gone onto the backburner; as it stands now, it has been drowned under the other big-ticket public welfare announcements the government made recently.
The free medicines initiative is a welcome step towards universalization of healthcare in India, considering that expenditure on medicines makes up for nearly one-third of the total healthcare spending by an average household. While it is true that many other factors, including some obvious ones such as availability of safe drinking water and hygienic sanitation, can contribute handsomely towards improving the overall public health conditions, yawning deficiencies in access to such facilities has resulted in excessive dependence on medicines. For millions of Indians, curative healthcare is the stark reality and preventive healthcare a cherished dream.
It is hardly surprising, therefore, that the focus of the debate on healthcare in India should be on access to medicines at affordable prices. Policymakers have long recognized the importance of this issue and in so doing took proactive steps several decades ago to ensure that India develops a strong domestic pharmaceutical industry. Those responsible for charting the destiny of this country in the early years after independence recognized that the pharmaceutical industry the world over was being driven by a small set of global companies that were using their patent monopoly to keep a stranglehold over the market. During these years, Indian consumers had to pay a heavy price: a sub-committee of the US senate reported in 1963 that prices of pharmaceutical products in India were among the highest in the world.
What followed were deliberate attempts to promote a domestic pharmaceutical industry. The building block of these attempts was the Indianization of the colonial Patents and Designs Act of 1911. The new law enacted in 1970 helped the generic pharmaceutical industry take root and within the next two decades, India could boast of the largest generic pharmaceutical industry in the developing world. This industry not only provided the cheapest formulations to patients in India, it provided affordable medicines to patients in Africa afflicted by HIV/AIDS, tuberculosis and malaria. More importantly, the presence of generic producers changed the dynamics of markets for pharmaceutical products as market leaders were forced to moderate the high prices they were charging for medicines to treat the diseases.
As the government of India rolls out its free medicines initiative, it needs to understand that the only way this programme can be successful is to ensure the domestic industry is able to provide generic medicines at affordable prices. For a government that is trying to rein in its bulging expenditure, availability of essential medicines at affordable prices should be of prime importance. The onus is, therefore, on the government of India to ensure that the country’s generic industry is nurtured well so that it can keep up the supplies needed to effectively implement the free medicines initiative.
It is imperative to nurture the generic pharmaceutical industry given the uncertainties facing the industry stemming from the spate of takeovers. The government should respond to this development with alacrity for the country can ill-afford to lose the industry that can contribute to the improvement of the health of its populace. A number of recent reports have alluded to the increasing disease burden of India’s population, besides reporting that in respect of the health indicators figuring in the millennium development goals, India needs to tighten its belt.
What must the government do to provide a sense of security to the generic pharmaceutical producers? The first step should be to formulate a policy that considers the imperatives of a strong a viable generic industry. It is important that this policy take a medium-term perspective so that the foundations of this industry can be strengthened. For doing so, plans will have to be put in place to ensure that the pharmaceutical industry in India is built from the basic stage of production. This, in other words, implies that the industry does not merely produce formulations, but produces the active pharmaceutical ingredients (APIs) as well. It should be pointed out that one of the major weaknesses that India’s generic industry has developed in recent years is its increasing dependence on countries such as China for APIs. This trend needs to be reversed by taking urgent steps to increase domestic production of APIs.
The most formidable challenge is undoubtedly to ensure that not only do the existing generic pharmaceutical producers pledge continued commitment to the industry, new investors should also feel motivated to commit to the development of the generic pharmaceutical industry in India. For this to happen, the government needs to play a proactive role to protect the interests of generic producers, particularly against hostile takeovers. If US lawmakers can prevent takeovers of their petroleum firms in the interest of national security, why can’t the Indian government take similar steps to ensure the health of its population?
Biswajit Dhar is director general at Research and Information System for Developing Countries, New Delhi.


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NBC News reports:
Tesla is covering travel costs for employees seeking out-of-state abortions, joining the ranks of major companies who’ve introduced a similar policy to benefit workers affected by new restrictions in the past few months.
The company said in its 2021 “ Impact Report ” released Friday that it expanded its Safety Net program and health insurance offerings last year to include “travel and lodging support for those who may need to seek healthcare services that are unavailable in their home state.”
The car maker officially moved its corporate headquarters last year from Silicon Valley to Texas, which passed a law banning abortions at roughly six weeks of pregnancy.
Read the full article.
Tesla is covering travel costs for employees seeking abortions outside their home state.
The company said in its 2021 “Impact Report” that it expanded its Safety Net program and health insurance offerings last year to include travel and lodging.https://t.co/MrXj9apqxr
— The Associated Press (@AP) May 6, 2022


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By Miranda Lupion
By now you’ve probably heard about the battle for Amazon’s second headquarters. But Russia’s e-commerce market is witnessing a fight of its own. From Chinese giant Alibaba to leading Russian lender Sberbank, both foreign and domestic players are competing for page views and purchases. What is the current state of Russia’s nascent yet rapidly developing e-commerce scene? And what challenges lie in store?
The State of Russia’s E-Commerce Market
Over the past three years, unlikely conditions (pg. 1) popularized online shopping in Russia. The impact of sanctions, low oil prices, and a ruble devaluation coupled with high rent costs and low consumer demand have challenged brick-and-mortar stores while propelling the growth of digital retail. The industry has attracted venture investments of US$2.6bln annually (pg. 1). In 2015, one in 5 Russians between the ages of 16 and 55 made at least one purchase online. By 2016, this figure jumped to one in 4, meaning around 43 percent of population or an estimated 62 million Russians (pg. 14) were shopping online. (Statista puts this figure at a more conservative but still impressive 46 million.) Clothing and shoes, followed by toys, hobby, and DIY products rank as the most popular purchases from both domestic and foreign sites. In 2017, business-to-consumer e-commerce accounted for an estimated 1.39 percent of Russia’s GDP (pg. 17) and 2.8 percent (pg. 18) of total retail sales. In 2018, figures are expected to rise to 1.71 percent (pg. 17) and 3 percent (pg. 18) respectively.
Although these numbers may seem low, GDP and retail figures fail to capture Russia’s appetite for cross-border products. Statista reports that Russia is actually ahead of a handful of EU countries in e-commerce spending. Chinese retailers are especially popular in cities with 100,000-500,000 residents, where both local choices and incomes are usually limited. In 2016, the number of imported orders increased by 73 percent (pg. 24). Local market orders rose only 6 percent (pg. 24). In the first quarter of 2017, Russians spent 106 percent more in foreign online stores than during the same period in 2016. China is the real winner though; in 2016, 80 percent of Russia’s cross-border orders came from China. Alibaba’s AliExpress became Russia’s most visited online store with over 22 million (pg. 15) unique visitors per month. 85 percent of Russians shopping on AliExpress live in the regions. For many of them, AliExpress marks their first experience with online shopping (pg. 15).
Strides in internet connectivity and electronic payment methods have especially benefitted cross-border retailers. In 2016, Russia’s internet penetration rate tied with the U.S.’s at 76 percent: given the right consumer spending dynamics – though they’ve lagged of late – Russia may ripen for online buying. With smart phone penetration nearly topping 53 percent, Russians are starting to browse on smaller screens too. The spread of internet-linked devices is especially crucial for consumers living outside big cities, who tend to prefer foreign retailers and who may not have fixed broadband subscriptions at home. While the share of Russians shopping on smartphones is still less than 20 percent, mobile internet penetration is expected to reach nearly 62 percent by 2022. This development is good news for foreign retailers; 21 percent of Russians who prefer to shop internationally also prefer to purchase using their mobile phones.
Even when ordering online, cash on delivery (COD) was traditionally the go-to payment choice for Russians – a limiting factor for foreign sellers. However, in 2012, AliExpress launched a QIWI wallet payment option, allowing Russians to use an app they already trusted to pay digitally. This along with the later widespread adoption of PayPal (pg. 11) lowered the barrier to e-commerce entry for small and medium-sized enterprises as well as consumers. In 2016, 60 percent (pg. 40) of domestic sales were still paid for through COD, but shoppers paid for almost 100 percent of their cross-border (pg. 40) purchases in advance, usually via PayPal, Visa, or QIWI. Despite the lingering popularity of COD for domestic orders, 2016 marked the first time the majority of Russia’s online shoppers made at least one payment with a click.
Challenges for Chinese Retailers
While foreign retailers reap the rewards of Russia’s digitization, they lose out on delivery. High international shipping costs are compounded by poor infrastructure so Russians prefer “click and collect” shops over post or courier delivery. In 2015, 72 percent (pg. 43) of consumers collected online purchases in stores. Russian e-commerce players Ulmart and Citilink both allow buyers to collect their purchase at outposts or brick-and-mortar stores (pg. 12-13).
This preference for pick up cripples growth for cross-border retailers, who typically ship packages first through their national postal service and then the Russian post. In a survey on e-commerce, Russia’s respondents reported they prefer to buy from foreign retailers where products are cheap. However, they are concerned about both the customs and shipping aspects of international delivery. Russia, endowed with territory the size of Pluto’s surface, ranks 99 out of 160 on the World Bank’s Logistical Performance Index, which measures the efficiency of customs clearance process, quality of trade and transport infrastructure, and ease and quality of logistical services.
Beyond these structural barriers, Russian internet company Yandex is gunning to challenge China’s massively popular online retailers. Sberbank abandoned joint talks with Alibaba last month and instead announced a US$1bln deal with Yandex, Russia’s most popular search engine. The joint venture effectively doubles the tech company’s value, linking Sberbank’s customers to Yandex.Market while transforming the site’s price comparison function into a fully-fledged online retailer.
While Yandex’s expansion could threaten Alibaba, the Chinese giant has been thinking ahead. In October, the company began testing its Tmall in Russia. Tmall orders ship directly from Alibaba’s partner warehouses in Russia, putting the site on par with its domestic peers and giving the soon-to-launch Yandex.Market a run for its money. The Kremlin should invest in delivery infrastructure and simplify its customs controls not just to make buying Chinese knockoffs easier, but because these changes will help the country’s own sellers abroad. Russian retailers have successfully sold digital goods internationally, but customs and shipping constraints (pg. 22) have prevented the large-scale sale of physical products. The e-commerce game is not zero-sum, and these improvements have the potential to benefit both the dragon and the bear.