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BEIJING (Reuters) - The chief executive of top mobile-phone maker Nokia said on Friday the world market was likely to exceed expectations next year.
The firm, which produces one in three mobile phones sold worldwide, has forecast that the mobile device market this year would reach 780 million units.
Asked about the outlook for next year, chief executive Jorma Ollila told reporters in Beijing: "The robust growth will continue and will exceed expectations, as it did this year".
Nokia expects a large portion of that growth to come from China, one of its fastest growing markets.
"We estimate that by 2010 China will have added another 250 million subscribers, strengthening its position as the single largest mobile market in the world," said Ollila.
China has about 380 million mobile subscribers currently.
The firm said last month third-quarter net sales rose 18 percent, but growth was driven by demand for its cheaper phones in emerging markets.
Nokia sold 30 percent more phones in the third quarter compared with year earlier as a result of booming sales in China and India. That growth came after the introduction of a range of new models and aggressive pricing after stagnant sales and market share losses last year.
Nokia's third-quarter sales increase was less impressive than at number two maker Motorola — which increased its handset sales by 66 percent — but it gained market share from market number three Samsung Electronics.
Reflecting the aggressive pricing policy, the average selling price (ASP) for Nokia phones slipped to 102 euros in the third quarter, down from 108 euros in a year earlier, and are expected to fall further in the current quarter.
Nokia sees 2006 market beating expectations
By Staff Writers on Nov 28, 2005 9:00AM
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Israel’s Finance Ministry announced on Tuesday that a consortium led by the Adani Group of India has successfully finalised the acquisition of the northern Israeli port of Haifa for 4 billion shekels ($1.15 billion).
An underperforming industry that has been hampered for years by labour strikes has undergone a nearly two-decade overhaul that culminated with the sale of one of Israel’s major seaports after a five-year process.
To decrease expenses and lower the above-average wait times for ships to unload, the nation has begun selling its state-owned ports and constructing new private terminals. Port renovations are required to preserve economic growth as around 99% of all goods are imported and exported from Israel by water.
Israel announced in July that it would sell the port in Haifa, a crucial crossroads for trade throughout the Mediterranean, to the successful bidders Adani Ports and regional chemicals and logistics business Gadot.
A new port in Haifa across the harbour was inaugurated by China’s Shanghai International Port Group (SIPG) last year and with the addition of SIPG and the Adani-led consortium, Israel’s reputation as a regional trading hub should improve.
According to Adani Ports and Special Economic Zone, the purchase of Haifa Port with a local Israeli partner will expand trade routes with the company’s Indian ports and, in the long run, might improve connectivity between Europe and the Middle East, according to Reuters on Thursday.
The biggest port developer and operator in India, Adani Ports, claimed that with the purchase, it will “expand its footprint into the European port industry, which includes the lucrative Mediterranean region.”
Israel’s second-largest port, Haifa, will be privatised by Adani Ports and Special Economic Zone Limited (APSEZ), which was awarded the contract last Thursday in partnership with the Gadot Group.
“This is a much higher price than the government (of Israel) had first anticipated and has a price-to-earnings ratio of 18 (roughly calculated, based on the average of the past three years). It is as if Adani is saying: Step aside, this is a strategic purchase, and for us, the price is less important”, the report stated.

domain: news


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Patriotic natives will no longer be able to purchase tours to Egypt directly and through third power. According to reliable information of the Federal Agency for tourism, tour operators are not allowed to trade permits in the Arab Republic.
"The Federal tourism Agency announced a clear position on the necessity of ending the implementation of tourist trips. Tour operators announced that from November 6 the work terminated, and organized our tourists can't get to Egypt either directly or through third power", - said the head of the Federal tourism Agency Oleg Safonov.
Along with this, according to reliable reports "Russian news service", the people of Russia still continue to buy tours in the Arab country, without looking at bans. So, the most famous currently the Egyptian resort of Taba on the Red sea, 10 km from the Israeli-Egyptian border. Tourists arrive at the Israeli airport of Eilat and reach the resort by bus.
But even this does not save the situation - the tour operators incur huge losses. As we were informed Days.Roux, according to reliable information of the Federal tourism Agency, at the moment, the amount of damage from the ban on flights to Egypt is estimated at 1.7 billion rubles. And this amount may still increase because it is unknown when the flights will be reconstructed.
Note that Egypt is the most famous tourist destination among domestic travellers. According to reliable information of Rosstat, in the 1st half of 2015, the country was visited by over a million pilgrims - more than 19% of the number of inhabitants of Russia who went on vacation in another state. In fact, not affected the popularity of the direction and the devaluation of the ruble.
sections: Economics, World News, Accidents


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Business in the Exchange is diverse and doing well
Exchange stoked for a big Switch
Skateboard shop to transform heritage building
When Nick Van Seggelen and his business partners gaze out the massive front windows of their soon-to-be-opened Exchange District skateboard shop, they can't help but smile.
Less than a half a block away is Red River College's downtown campus, which is teeming with 18- to 25-year-old students.
"That's our key demographic," Van Seggelen said during a recent interview. "I'm also an ex-Red River student and I still have close ties to the students' association."
Its close proximity to the Princess Street campus was one of the main reasons Van Seggelen and his twenty-something business partners -- Chris Erbus, Steve McKim, Allen Krueger and Wes Anderson -- decided to lease the main floor of 123 Princess St. for their new 2,500-square-foot store.
That and the fact it's a heritage building that oozes character, with 3.6-metre-high windows, exposed brick walls and large, timber beams.
"We just love the area and the old buildings," Van Seggelen said. "As soon as we walked in the front door for the first time, we were in awe."
Their new shop, which will be called The Switchboard, is scheduled to open on May 24. In addition to skateboards, it will carry a wide selection of snowboards, wakeboards, boarding apparel and accessories.
It's hard to tell who's happier about The Switchboard setting up shop in The Western Elevator Lofts building -- the five business partners, the man behind the conversion of the former industrial building into a commercial/condominium complex (military man Patrick Hitchcock), or Lisa Holowchuk, executive director of the Exchange District Business Improvement Zone.
"It's great to see another business opening in The Exchange," Holowchuk said. "They'll fit in very well. We welcome them with open arms."
"And I'm very happy I've finally got a tenant for the main floor," Hitchcock said, noting the space has sat empty since he bought the four-storey building in 1998.
Although the three upper floors of condos -- six in all -- sold quickly, Hitchcock said it's been a struggle finding tenants for the main floor and lower level of the 104-year-old building.
"But these guys are going to have a really cool business," he added. "It's exactly what the area needs and it works very well with all the young people in the area."
Bill Thiessen, a commercial agent with RE/MAX Performance Realty and a former business development officer with CentreVenture Development Corp., said the area could benefit from another locally owned, specialty retailer.
"If stores like this succeed... it provides another building block for somebody else to come in behind them," Thiessen said. "These are offbeat, cool, local stores, and that's what makes it (The Exchange District) fun."
Holowchuk said the presence of Red River's downtown campus -- the first phase opened in 2002 -- has been a bonus for the Exchange. Not only has it helped lure new retailers to the area, but it's provided a large, new target market for the more than more than 600 businesses and non-profit organizations that were already there.
"It's also been a positive contributor to the neighbourhood in terms of bringing life to the streets and drawing people to the area."
She said the college's proposal to convert the 103-year-old Union Bank Tower at Main Street and William Avenue into student housing and a new home for its culinary and hospitality school could provide an even bigger boost because of it will add 100 new apartments to the area.
The Switchboard is the third retail venture for the five young business partners, who hail from Winnipeg and Brandon.
They also own a boutique hotel -- The Hub Hotel -- and a skateboard/snowboard/wakeboard shop -- The Business Board Shop -- in Russell and a retail kiosk in the Asessippi Ski Area and Winter Park near Russell.
Van Seggelen and Erbus said when they decided last year to open a store in Winnipeg, the only area they looked was The Exchange.
"This area reminds me a lot of Gastown in downtown Vancouver, and I love going there," Van Seggelen said.
Erbus said Canadian cities boast funky, downtown shopping districts, and they think the Exchange District could fill that role in Winnipeg.
"There is a lot of potential in these old buildings," he added.
Elevator tower's ups and downs
Here's some history of the 104-year-old Western Elevator building, at 123 Princess St.:
1904 -- The four-storey brick building opens on the east side of Princess Street between William and Bannatyne avenues.
1905 -- The building gets its first tenant -- Miller and Richard Co., which supplied metal type and printers' machinery to the printing and publishing industry. It remains there until 1931.
1933 -- The Western Elevator and Motor Co. and Power Mine Supply moves into the building.
1984 -- Western Elevator relocates and building used for storage and a woodworking shop.
1999 -- Patrick Hitchcock purchases the building and converts it into a commercial/condominium complex called The Western Elevator Lofts. 2001 -- The six 1,420-square-foot condos are sold. All are completed by 2003.
2003 -- A plan by Hitchcock to open a food store/deli on the main floor falls through.
2007 -- Construction of a penthouse condo on the roof begins. Now it nears completion.
2008 -- A commercial tenant -- The Switchboard -- is found for the main floor.


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Fall Toy Preview ’16 Draws Optimistic Crowd of Global Toymakers, Retailers
TIA Honored by Dallas Convention & Visitors Bureau for its Continued Partnership with the City
October 4, 2016 | More than 3,300 toymakers, buyers, licensors and trade guests hailing from 36 countries were in Dallas, TX last week to attend the Toy Industry Association’s (TIA) 10th annual Fall Toy Preview.
Held September 27-29 at the Dallas Market Center, the long-lead marketplace drew 758 buyers from 359 retail outlets – from mass merchants and supermarkets to discount chains and specialty shops – to preview tens of thousands of brand-new toys and games slated for release in 2017.
Notable retailers in attendance included Walmart, Target, Toys“R”Us, Amazon.com, Kmart, Michaels Arts and Crafts, and A.C. Moore. Toys“R”Us demonstrated its continued commitment to the fall marketplace by way of their participation – more than 170 buyers, field managers and executives from the retail giant were present at the show.
Dozens of licensors were also on hand to broker deals that will bring beloved characters and brands to life, including 20th Century Fox, Cartoon Network, Disney Consumer Products, NBC Universal, and Nickelodeon.
Hundreds of toymakers displayed their new and developing product lines in open, closed or combination booths and showrooms. Many exhibitors remarked on the quality of their buyer appointments and were pleased with the positive feedback they received throughout the show.
“Fall Toy Preview was a great success! The event drew a considerable, optimistic crowd and showcased thousands of compelling playthings from our industry’s most creative toymakers,” said Marian Bossard, TIA senior vice president of global market events. “Industry analysts are forecasting another successful year for the industry … and the innovative toys and games shown at Fall Toy Preview are sure to propel sales through the 2017 holiday shopping season.”
This year marked Fall Toy Preview’s 10th anniversary, an occasion that was recognized by the Dallas Convention & Visitors Bureau (CVB), which presented TIA with a special sculpture as a ‘thank you’ for its continued partnership with the city.
The sculpture – a seven-inch, hand-cast pewter skateboarding bird mounted on a brick salvaged from historic Dallas structures – is a miniature replica of the original 22-foot-tall sculpture seen on the Dallas skyline, created by Dallas CVB Artist of the Year and world-renowned sculptor Brad Oldham. The piece celebrates “the leap of faith that artists and entrepreneurs take every day,” stated Oldham, who visited the Dallas Market Center during Fall Toy Preview’s Opening Night Party to present his creation to TIA President and CEO Steve Pasierb.
“Receiving an original Brad Oldham sculpture is an honor for all TIA members and further evidence of the high esteem the Dallas Convention & Visitors Bureau holds for Fall Toy Preview,” said Pasierb. “The 2016 Preview delivered robust buyer attendance, strong international representation and member booths and showrooms that were buzzing with activity. We can’t wait for October 2017 and the next Fall Toy Preview!”
TIA’s Fall Toy Preview gives toy buyers from mass, long-lead and specialty outlets the opportunity to meet one-on-one with toymakers and marketers more than a year in advance of in-store delivery. For more information, visit www.FallToyPreview.org. Save the date for Fall Toy Preview 2017, to be held October 2-5 at the Dallas Market Center.


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Since the earliest days of Hollywood, Southern California has been a champion exporter and influencer of popular culture, first with movies and television shows sent to every corner of the globe and later with surf trunks, skate shoes, premium denim, Von Dutch trucker hats and the curious creation that was the Juicy Couture velour tracksuit.
So it follows that over the last decade and a half, a growing number of retailers that have shaped the SoCal style scene have become bankable, exportable brands themselves. The most recent example is American Rag Cie, which late last month opened a flagship store in Shanghai (the first of many planned stores in the Chinese market).
"It's no surprise that L.A.-based retailers are finding success globally," says Tom Julian, men's fashion director at the Doneger Group, a New York City-based retail and merchandising consulting firm. "L.A. retailers have been creative visionaries, as well as contemporary curators of a warm-weather lifestyle that today can be embraced in any international city, especially those in Japan and Hong Kong. That lifestyle has also moved beyond apparel and into architecture [and] design."
Julian says there are some powerful factors working in favor of L.A. retailers looking to expand internationally. One is the ability to "leverage the cultural cues of beach life, celebrity life and athletic life." A second is a seasonless L.A. look, and a third is simply the way they merchandise the goods they sell.
"L.A. retailers have always understood how to take iconic American items like T-shirts, jeans, sneakers and leather jackets and mix them in a modern way for young shoppers as well as [for] international style mavens," he says.
Ilse Metchek, president of the California Fashion Assn., a group representing the state's textile and apparel businesses, puts it another way. "The word 'California' is simply a selling point," she says, "New York does not have that. You never hear of anyone talking about a 'New York lifestyle.'"
While the far-flung outposts share DNA with their stateside forebears, Ron Herman (who has a baker's dozen self-named boutiques in Japan) says the retail experience in these distant ports is anything but SoCal cookie-cutter.
"The Japanese customer doesn't need palm trees or surfboards. They don't need board shorts," says Herman. "What they do appreciate is a passion for specialty store retail … and a cultural environment."
Herman should know what he's talking about. In the U.S. he has a reputation as an extremely influential retailer (albeit one with a relatively small bricks-and-mortar footprint of just three stores, on Melrose, in Malibu and Brentwood). In Japan he's grown into a full-fledged lifestyle brand, a la Ralph Lauren — customers can drive Ron Herman Toyotas, get facials in a Ron Herman spa and have their wedding receptions catered by a Ron Herman Cafe.
Here's how a few of the brands that helped shape L.A.'s retail landscape are doing things differently overseas.
In 1961, a young entrepreneur by the name of Fred Segal touched off the first wave of designer denim mania in L.A. Four years later he opened what would be his branding legacy: the original shop-in-shop concept. Acting as landlord, Segal clustered a cadre of cutting-edge, independent retailers under one Melrose Avenue roof and the Fred Segal Center concept was born. In 2012, the Segal family (Fred had long retired) sold the intellectual property rights to the brand to Sandow, which sees opportunity in international expansion.
Goods: Segal's Melrose and Santa Monica locations (not part of the Sandow deal) were incubators of famed retail brands including Ron Herman and Ron Robinson, and the mix of retail and restaurant offerings created an environment that generations of shoppers wanted to not only visit but spend money in.
International presence: The first non-U.S. outpost for the brand, a three-building complex known as Fred Segal Daikanyama, opened in Tokyo in April. In a nod to its L.A. origins, it has a food truck out front and ivy-covered walls.
Popular overseas: According to Fred Segal CEO Paul Blum, designer sneakers and denim have been strong since the complex opened, and he describes the vintage handbag business as "a runaway success." But Blum says one product — from the food offerings, not fashion — has been the biggest hit so far: bottles of Fred's Brew, a private-label cold-brewed coffee. "They can't seem to get enough of it over there," says Blum. "It's taken us kind of by surprise."
American Rag Cie
Mark Werts opened his first American Rag store in San Francisco in late 1984, followed by a Los Angeles boutique in November of 1985. An expanded version of that L.A. flagship still fronts La Brea Avenue.
Goods: Heavy on the vintage offerings and renowned for an extremely deep bench of denim, the American Rag stores in L.A. and Newport Beach also serve up an eclectic, high-low mix of workwear, sportswear, housewares and accessories.
International presence: "We had a store in Paris sometime in the 1980s," says Werts, "but the Tokyo boutique we opened in 1997 was the first deeply successful international store." Today there are 13 Japanese stores, one each in Jakarta, Indonesia, and Bangkok, Thailand, and a 6,500-square-foot store that opened in Shanghai in late July. It's the first of many stores planned for the Chinese market.
Popular overseas: "[The stock is] similar but edited to the local market. There are certainly climatic variations for the local markets — in Bangkok a cold winter day is 84 [degrees] and for 11 months out of the year it's 95 [degrees], so heavy jackets would not be an item other than for a Russian tourist," Werts says. "We sell a general concept of what we call California lifestyle and folks overseas have an idea of what that means. We're certainly more denim-based than some other [retailers]."
Canadian expat Fraser Kitson Ross opened his first Kitson boutique on South Robertson Boulevard in Los Angeles in April 2000, leveraging a retail empire from the combination of celebrity clients coming through the doors and camera-wielding paparazzi waiting on the sidewalks.
Goods: Tourist-friendly and fashion-focused, Kitson stores — more than a dozen in California and one each in Las Vegas and Portland, Ore. — serve up a bumper crop of tchotchkes, trinkets and T-shirts ranging from coffee mugs that read "More issues than Vogue" to exclusive L.A.-flavored collaborations with designers such as Brian Lichtenberg and Lauren Moshi.
International presence: The first foray beyond U.S. borders, in 2007, was a short-term lease in Dubai, followed by a shop in the Shinjuku area of Tokyo in 2009. Other temporary stores, short-term leases and pop-up shops followed across Japan (eight in all), Korea (six) and Taiwan. Although none of those locations is currently open, a company representative says plans are underway for a permanent foreign flagship store "in the near future."
Popular overseas: The company says tote bags bearing the store's name in huge letters and "Los Angeles" in smaller letters just below are the most popular items ordered for international shipment via the store's e-commerce site. And even though there is currently no bricks-and-mortar presence overseas, a company representative says a Kitson-branded line of personal care products "continues to be very popular" in Japan. Among those items: perfumes, shampoo, lotion and handkerchiefs, many bearing the store's name and the slogan, written in English: "Have beautiful hair like LA celebrities every day."
Ron Herman opened his first boutique — all of 600 square feet — at the Fred Segal Center on Melrose Avenue in 1976. Today that store has grown to cover some 20,000 square feet and Herman's name graces two other U.S. stores, one in Malibu and the other at the Brentwood Country Mart.
Goods: The kind of SoCal-flavored sportswear, denim and accessories that are the city's default uniform. Herman's love of merchandising and his buying staff's eye for up-and-coming talent have made him one of the city's most influential retailers. (The store helped launch labels Juicy Couture and Earl Jean, among others.)
International presence: Herman's first non-U.S. store was a 2,500-square-foot store that opened in the Sendagaya neighborhood of Tokyo in August 2009. Today there are 13 boutiques across Japan, with two more scheduled to open by the end of the year.
Popular overseas: While many of the same Cali-casual categories popular in Herman's stores here — denim, T-shirts, sweatshirts and fleece — are also popular abroad, what's most sought after, he says, is "anything branded Ron Herman." And there's a whole lot more of that than you might imagine: full men's and women's denim, sportswear and casual wear, a line of home furnishings (RH California) and relaxation spas (Sense Ron Herman).
Over the years the retailer has also collaborated on an impressive list of co-branded products in the Japanese market resulting in Ron Herman watches (with both Rolex and G-Shock), Vans footwear and even a limited-edition 2012 Toyota FJ Cruiser, complete with a surfboard-suitable roof rack.
In what's perhaps the best evidence that Herman has succeeded in building a lifestyle brand abroad, couples getting married at Riviera Zushi Marina in Kanagawa, Japan, can opt to have the Ron Herman boutique there help with all of their nuptial needs — from flatware to footwear to formalwear — with the Ron Herman Cafe serving up the reception dinner after the ceremony.


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Larry Ellison is eyeing the same milestone as his enterprise software rival, but it will likely take a 'transformational' acquisition for Oracle to get there first.
Analysts are cautious in the lead-up to Oracle's earnings release this afternoon. Here's why no panic is necessary.
Like many software companies, Oracle is moving from a focus on selling software licenses to a sales model more akin to services.
The tech giant's acquisition of Opower is its second purchase of a cloud software company in the past week.


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· By Dillon Rose
Oklahoma jewelry maker supporting other local artists
By Emma Davis, Staff Writer for The Oklahoman
A Tulsa jewelry artist has supported local artists and musicians through jewelry sales as changes made due to COVID-19 have put many out of work.
Jewelry artist Rachel Dazey, designer at the jewelry store Dillon/Rose, began selling copper cuffs at the beginning of the COVID-19 pandemic to benefit Oklahoman creatives, including graphic and tattoo artists, Dazey said.
Dazey said she chose to make her cuffs from copper because of its antiviral and antibacterial capabilities. Dazey sees the metal as a symbol of hope.
“I ... just wanted to encourage my community of creatives in Oklahoma, where (they’re) obviously going through all their shows being canceled, not being able to perform, (and) having to really figure out how to show the public their work,” Dazey said. “So I came up with this idea to use copper as the symbol to just encourage them and bring hope to our community.”
After reaching her goal of $2,500 on March 25 that went directly to local creatives, Dazey began partnering with Tulsa’s Red Dirt Relief Fund to give a portion of her profits to Oklahoma musicians, Dazey said.
The Red Dirt Relief Fund, whose mission is to provide a safety net for Oklahomans in the music industry, launched a COVID-19 emergency grant program that has provided assistance to 472 applicants and $118,000 in grants since March 16, said Katie Dale, Red Dirt Relief Fund executive director. Each grant of $250 is given to someone in the music industry who has been hit with $1,000 or more in financial loss due to cancellations or postponements.
Dazey’s contribution to the Red Dirt Relief Fund has helped fund nine grants in this program, Dale said.
“It's just really inspiring to have the support of other artists, especially given her particular work, to see the need for fellow people working in the arts in Oklahoma,” Dale said. “And the support she's gaining through her customers and the clientele can be shared with those who are having a harder time making a living during this time.”
Dazey plans to continue her sales through the website until music venues are reopened.
“Musicians have been, I think, one of the hardest hit as creatives, and we have such a vibrant music community here that I really want to see that continue after this," she said. "So it's important to me to continue supporting them.”
Red Dirt Relief Fund
For more information about the Red Dirt Relief fund, go to reddirtrelieffund.org.


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Crown Flour Mills to introduce bakers’ app
Crown Flour Mills, a subsidiary of Olam Grains Nigeria, says it will soon inaugurate an exclusive app solely for bakers.
The Managing Director, Olam Grains Nigeria, Mr Anurag Shukla, who made this known in Lagos during the unveiling of Alhaji Raji Omotunde as the firm’s Mama Gold Flour brand ambassador, said that the bakers’ app would allow bakers across the country to interact with the firm on their products.
Shukla, who was represented by the Deputy Managing Director of the company, Mr Rohit Chugh, said the app would be inaugurated before July.
A statement on Thursday quoted him as saying, “We all know that digital technology is the way to go. All that the bakers will have to do is download the app and connect with the company much faster, to take the Mama Gold Flour to the next level.
“The Bakers app will be a meeting point for all bakers, dealers and others to connect and engage the firm on its products.”
Also speaking during the unveiling, the Vice- President, Commercial, Crown Flour Mills, Mr Bolaji Anifowose, said that the choice of Omotunde, who was the Chairman, Lagos State Master Bakers and Caterers Association of Nigeria as the brand ambassador for Mama Gold Flour was to promote the brand.
He said, “The firm has been looking for ways to better connect with bakers and the opportunity presented itself in the selection of Omotunde.
“The event today will create a platform to relate with bakers and to personify the brand in the ambassador. Omotunde has shown tremendous support for the brand in over 20 years. It is a well-deserved honour.”
The National President, Association of Master Bakers and Caterers of Nigeria, Dominic Daniels, commended the company for maintaining and strengthening a cordial relationship with bakers.
Daniels, who was represented by Alhaji Kabir Hassan, said that the association would also like to encourage the firm to maintain a good price regime and quality of the Mama Gold Flour.
Bakers and caterers from across the country attended the event, while awards were given to some of them, according to the statement.
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Consumer awareness is key to carbon reduction
Published: 09 April, 2013
Increased consumer awareness for sustainable solutions and their benefits, better regulation and financial incentives are likely to have the most impact on the UK’s ability to meet its carbon reduction targets, according to a recent survey conducted by Saint-Gobain.
Conducted with Ecobuild 2013 visitors, the survey found that 25 percent of respondents believe increased consumer awareness would have the most impact, with 21 percent opting for better regulation and 20 percent for financial incentives. Fourteen percent thought new product and technological innovation would have the most impact and 11 percent, industry training.
Respondents also believe that changes in consumer behaviour would have the least impact with just 9 percent mentioning this as the most important driver for change.
In addition, the survey found:
- Only 33 percent of respondents think there is any chance that the UK can now meet its 2050 carbon reduction targets
- 76 percent of people believe that in the current economic climate, price is more important than environmental performance
- More than three quarters of visitors (78 percent) felt that whole-life carbon calculations should become compulsory
- 69 percent believe the current government is not the greenest ever.
To listen to the opinions of individual survey respondents, visit Saint-Gobain’s YouTube channel and view the Ecobuild videos.


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* New estimate $10-$11.50/shr; previous estimate $8-$9.50
* Sees net proceeds of $247.7 mln
* Pricing due Wednesday
NEW YORK, Sept 22 (Reuters) - Lithium-ion car battery maker A123 Systems Inc AONE.O on Tuesday raised the estimated price of its initial public offering by 23 percent and now expects proceeds of about $276 million.
A123 estimated it will sell 25.7 million shares at $10 to $11.50 apiece, according to a filing with the U.S. Securities and Exchange Commission. The original price range was $8 to $9.50.
The IPO is set to price on Wednesday and start trade on Nasdaq the following day,
The A123 IPO comes amid a flurry of eight deals this week and is likely to test how much risk IPO investors are ready to take on. It will be the first IPO this year by a company never to have made a profit.
Still, A123’s revenue nearly doubled to $42.9 million in the first half of 2009 compared with the year-earlier period. But the company recorded a loss of $40.7 million, due in part to high research and development costs.
A123, founded by scientists linked to the Massachusetts Institute of Technology, develops batteries and battery systems for hybrid electric vehicles, plug-in hybrid electric vehicles, and electric vehicles and works with such carmakers as BMW (BMWG.DE), Chrysler and General Motors Co [GM.UL].
A123 began selling its products commercially in 2006 and now has about 1,700 employees, according to the filing. It first filed for its IPO in August 2008.
According to the updated filing, the Massachusetts-based company expects net proceeds from the IPO of $247.7 million and will use the funds to expand its manufacturing capacity and possibly acquire other companies.
Of the 25.7 million shares being sold, 2.6 percent are being offered by existing shareholders.
The IPO is being managed by Morgan Stanley and Goldman Sachs. (Reporting by Phil Wahba; editing by John Wallace)


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The activists warned that they will launch flash-mob demonstrations in stores neglecting the campaign.
One of the key targeted products, which the campaigners say should be removed from the stores, is ‘Ahava’ cosmetics.
The South African government says the campaign is not political and is based on protecting human rights in line with international law.
The activists believe that businesses and people alike cannot turn a blind eye to the campaign.
“We believe that eventually civil society in South Africa, especially the middle classes that have these options to buy these products, are in fact going to listen to the Palestinians’ cry,” an activist said.
In August, the South African government confirmed that it will not import goods produced in the occupied West Bank and East al-Quds (Jerusalem) with “Made in Israel” labeling.


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The positive comments include:
Chris Wallace, vice president of media for search-marketing firm iCrossing Inc., whose clients include Coca-Cola Co., says, "Our experience has been positive, in part because we do a significant amount of due diligence prior to migration" to the new system. Veronica Muth, a marketing coordinator for Telogis Inc., a fleet-management services and software firm in Costa Mesa, Calif., that spends about $3,000 a month on Yahoo search ads, agrees about the experience. "The migration process was easy," says Ms. Muth, who attended a Yahoo seminar about the upgrade for advertisers last week.
Search Engine Land also reports:
Rob Montalbine says technical glitches prevented the Hawthorne, N.J., relocation-services company where he is Internet-marketing manager from accessing Yahoo's search-ad system for most of three days after its upgrade. "With an aggressive search-marketing campaign and matching budget, three days is a millennium," says Mr. Montalbine, whose company buys ads linked to 14,000 keywords through Yahoo and at times has spent more than $7,000 monthly on search ads.


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PARIS — Emanuel Ungaro has found its new chief designer — Esteban Cortazar, WWD has learned.
An announcement is expected as early as today. Ungaro chief executive officer Mounir Moufarrige has a knack for making surprising designer choices. As president of Chloé, he picked the then 25-year-old Stella McCartney to succeed Karl Lagerfeld in 1997. Bogota, Colombia-born Cortazar, 23, presented his first signature collection in New York at the age of 18 and was immediately embraced by such retailers as the late Kal Ruttenstein at Bloomingdale's.
Neither Ungaro officials nor Cortazar could be reached for comment Thursday.
Cortazar will succeed Peter Dundas, whose three seasons at Ungaro were rocky at best. The house has experienced a bit of a revolving door in its design department, Dundas himself having succeeded Vincent Darre. Ungaro hopes Cortazar will be able to generate excitement at a house founded in 1965 and known for its polkadots, sexy draping and vivacious prints.
Ungaro has been wracked by instability since its founding couturier retired in 2004. His handpicked successor, Giambattista Valli, had some success, but he clashed with management. Ferragamo purchased Ungaro in 1996. They sold the business in 2005 to high-tech entrepreneur Asim Abdullah.
Moufarrige recently named a new designer, Frank Boclet, to rev up Ungaro's men's business.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
Stay up to do date with breaking news and trending stories with WWD’s “The Essentialist.” Our newsletter delivers the top news in fashion right to your inbox. Want more info? Link in bio. #wwdfashion (📷: @kukukuba)
"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.


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Blockchain Bites: Employee convicted in first NFT insider trading case, Mastercard reveals crypto payments solution, Coinbase launch international exchange following clampdown, Sports Illustrated launches NFT ticketing platform
Michael Bacina, Steven Pettigrove, Jake Huang, Luke Misthos and Luke Higgins of the Piper Alderman Blockchain Group bring you the latest legal, regulatory and project updates in Blockchain and Digital Law.
Sunk: Ex-OpenSea employee convicted in first NFT insider trading case
A former Head of Product at OpenSea, a well known non-fungible token (NFT) marketplace, was found guilty on Wednesday in what US prosecutors described as the “first ever digital asset insider trading” case. He is now facing a maximum sentence of up to 40 years in prison.
A jury in New York convicted 32-year-old Nate Chastain of wire fraud and money laundering for using nonpublic information from his employer to trade on NFTs in 2021. Chastain purchased the NFTs ahead of OpenSea featuring them on its home page, knowing the NFTs would sharply increase in price.
The Manhattan US attorney’s office claimed that Chastain had bought 45 NFTs in around 5 months and sold them for up to 5 times the price he paid, pocketing tens of thousands of dollars in profit. Chastain’s trading activities were first revealed by on-chain sleuths.
“He cheated, he stole, and he lied…He saw a way to make some extra money, to capture some upside”.
“He had information that would give him a leg up on every other NFT trader”.
While US prosecutors used the words “insider trading” to describe Chastain’s alleged crimes, they did not bring traditional insider-trading charges, which involve securities or commodities violations. Instead, they charged him with wire fraud and money laundering. Because of this, whether the NFTs in question are securities or commodities was not necessary to determine in this case.
Prior to the trial, Chastain’s lawyers had fought to bar any mention of “insider trading” from the case, arguing that the prosecutors hadn’t formally identified NFTs as either a security or a commodity, and were taking liberties with the term. Instead of insider trading, the lawyers said Chastain’s actions were akin to an employee of an art gallery promoting their own painting and fetching a higher sum for it as a result. These arguments were rejected by the court.
The court also agreed that confidential information about which NFTs will be featured by OpenSea can be considered property, which was a key element to the prosecutors’ wire fraud case. Prosecutors said that OpenSea, which was founded in 2017, treated the information as confidential and that Chastain signed a confidentiality agreement when he started working for the company, which included a “protection of information” provision.
However, lawyers for Chastain argued that the information wasn’t treated as confidential or property by OpenSea, arguing the relevant company rules weren’t clear. They also said OpenSea lacked a formal insider trading policy:
Not only were there no OpenSea policies, trainings, or compliance programs to inform employees of any restriction on trading featured NFTs, the government would have the jury believe that a generic confidentiality agreement, signed by newly hired employees, covered the conduct.
A policy that would have expressly prohibited the defendant from buying the NFTs in question was only put in place by OpenSea after Chastain’s transactions came to public knowledge.
Following last year’s high profile Coinbase insider trading case in which one defendant has pled guilty, the OpenSea case establishes a significant precedent by utilizing traditional fraud charges to prosecute trading in digital assets based on inside information, sidestepping the complex securities law issues required to bring insider dealing charges. The highly contentious issue of whether fungible digital tokens or NFTs are securities or commodities will remain a heated ground for future debate.
The OpenSea and Coinbase cases are also an important reminder for Web3 companies to implement well considered token dealing policies to curb trading on inside information by employees and contractors and to prevent the reputational fallout caused by insider dealing in cryptoassets including NFTs. In considering whether to implement a token dealing policy, it is important to instruct competent lawyers who are deeply familiar with both digital assets, corporate and financial services laws and the unique issues which arise involving digital assets.
Building trust in Web3: Mastercard reveals crypto payments solution
Mastercard, the global payments giant, has launched a new customer verification solution for Web3 that is intended to enhance trust for consumers and businesses transacting using blockchain technology. The solution, known as “Mastercard Crypto Credential,” was announced earlier this week and taps into Mastercard’s CipherTrace blockchain analytics tools to help verify trusted addresses and support AML/CTF compliance.
As part of the solution, users will receive a unique identifier called the “Mastercard Crypto Credential,” which will allow them to verify instantly whether an address they wish to send funds to has been vetted by Mastercard and is operating according to the company’s compliance standards. Furthermore, the solution is designed to exchange basic transaction information to facilitate AML/CTF compliance and reduce the risk of loss of funds or fraudulent activities. If a bad actor obtains a unique identifier, Mastercard will have the ability to revoke their verification.
Mastercard Crypto Credential is initially available to developers on the Aptos, Avalanche, Polygon, and Solana blockchains. Mastercard is also partnering with wallet providers, including Bit2Me, Lirium, Mercado Bitcoin, and Uphold to facilitate cross-border transfers between the US, Latin America and the Carribean,
Mastercard’s latest move deepens its increasing involvement in digital assets over the last few years. Recently, the company launched a nonfungible token (NFT) gated musician accelerator program in partnership with Polygon, which offers free access to materials, unique AI tools, and other experiences to holders of Mastercard’s Music Pass NFT.
Mastercard’s rival, Visa, is also stepping up its involvement in digital assets announcing a new stablecoin payments-focused project on 24 April 2023 through a new job listing. Visa’s Head of Crypto, Cuy Sheffield, said in a tweet:
We have an ambitious crypto product roadmap @Visa and just opened a few reqs for senior software engineers to help us drive mainstream adoption of public blockchain networks and stablecoin payments.
Visa and Mastercard, as well as other traditional ‘big money’ corporates like Venmo and NAB, are increasingly pushing ahead with their Web3 plans. Despite crypto winter, financial services companies are continuing to look to blockchain technology as a source of innovation and, unlike in years past, increasingly building crypto solutions for public rather private blockchains.
Coinbase launch international exchange following US crypto clampdown
Coinbase Global Inc. plans to expand its business by launching a derivatives exchange catering to institutional crypto traders based outside the US. The newly launched platform, named Coinbase International Exchange, will list perpetual futures for Bitcoin and Ether from this week after obtaining a license from the Bermuda Monetary Authority.
The move will allow Coinbase to compete with offshore players like Binance, who have already established a strong foothold in the crypto derivatives market. For now, the international exchange will only be available in Bermuda and for non-US institutional clients upon application.
Coinbase is doubling down on international expansion at a time when the blockchain industry faces increased regulatory challenges in the US. Coinbase received a Wells Notice from the SEC earlier this year alleging possible securities violations despite its consistent efforts to engage with US regulators and seek regulatory clarity for the cryptocurrency industry. These efforts culminated last week in Coinbase initiating administrative proceedings against the SEC seeking a response to a Petition which it lodged last year calling on the SEC to exercise its rulemaking powers to establish a tailored regime for digital asset securities.
According to Coinbase, perpetual futures make up 75% of global crypto trading volumes. Perpetual futures offer a way for investors to gain exposure to cryptocurrency without needing to own the underlying asset. Crypto traders often use perpetual futures to hedge against losses or speculate on the underlying tokens’ prices using leverage. These contracts do not have an expiration date and can be held for as long as the investor wishes.
On the Coinbase International Exchange, eligible investors will be able to access perpetual futures contracts with up to five times leverage. All trades will be settled using USD Coin ($USDC), the stablecoin issued by Circle Internet Financial Ltd., in partnership with Coinbase.
In a recent blog post, Coinbase reaffirmed its commitment to the US market but criticized the country’s regulatory approach, calling it a “disappointing trend.” The company generated 84% of its revenue from the US market last year, where it is most recognized. With rumors that a number of other US based exchanges have received Wells Notices, it appears likely that major exchanges will continue to pursue growth internationally as other jurisdictions, such as the EU, UK, Hong Kong and Australia, move forward with fit for purpose regulatory regimes for crypto-assets.
Sports Illustrated launches Box Office NFT ticketing platform
American sports magazine, Sports Illustrated, has announced the launch of its own NFT-based ticketing platform on the Polygon Network. The platform, called “Box Office” will allow fans to purchase and own digital collectibles that represent event tickets. Following in the steps of Ticketmaster, the move aims to revolutionise the way sports fans purchase tickets and interact with live events.
Released by “SI Tickets”, a subsidiary of Sports Illustrated, Box Office will allow event owners, organisers and hosts to create, manage and promote scalable NFT tickets. SI Tickets CEO, David Lane, expressed his bullish view on the digitisation of ticketing:
Blockchain is the future of ticketing, and now owners, promoters, hosts and attendees have access to an advanced ticketing experience that transforms the antiquated barcode into engaging and collectible content.
SI Tickets has also announced a partnership with blockchain software company ConsenSys to create a “Super Ticket” which allows attendees to scan their NFT tickets for benefits such as expedited entry passes, drink coupons, music downloads and receive post-event video content and rewards thereafter.
ConsenSys Global Co-Head, Johnna Powell said:
We believe the partnership with SI Tickets will make it easier for owners, promoters, and facilitators to create a fan experience that reaches previously unseen levels of engagement
By leveraging Polygon’s fast and low cost blockchain infrastructure, Box Office aims to offer a seamless ticketing experience for sports fans, while also reducing the risk of fraud and counterfeiting.
The launch of Box Office represents a significant step forward for the adoption of blockchain technology in the sports industry. By using NFTs to represent event tickets, Sports Illustrated and its partners are creating a more secure and transparent ticketing system that benefits both fans and event organizers alike.


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Wheaties is celebrating 100 years with the release of its new limited-edition Century Box Series, starting with “The Greatest,” Muhammad Ali.
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The limited-edition Muhammad Ali collectible box represents the first in a multi-part commemorative series, launching throughout the brand’s centennial year and featuring “inspirational champions that span decades, sports, and unforgettable cultural moments.”
Each Century Box in the series will feature iconic athletes who have previously appeared on the Wheaties box and shaped sports culture.
Ali was chosen to kick off the series in honor of his six core principles of confidence, conviction, dedication, giving, spirituality, and respect.
You can find limited-edition Muhammad Ali Centennial Series Wheaties boxes at national grocery retailers nationwide starting this month.
Image – Wheaties


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87% of SMEs plan to invest over the next year according to new SME report from Bibby Financial Services Ireland
- €114,338 is average investment amount planned per business over next 12 months
- Nearly half of SME’s (45%) say it is taking longer for business customers to pay since the pandemic began – with delays of up to five weeks being experienced
- One third of SME’s have written-off an average of €28,164 each in bad debt
- Over one third of businesses are considering M&A opportunities and plan to use private equity, business loans and invoice finance to finance the activity
87% of SMEs are planning to invest in their business over the next 12 months according to a new report from Bibby Financial Services Ireland, a leading provider of financial support and funding solutions to Irish SMEs.
The statistics show that an average investment amount of €114,338 is planned per business, with the top three areas of investment identified as:
- Staff training and development (39%)
- Digital technology and IT (39%)
- Recruitment of new staff (34%)
The majority of businesses (84%) also say they are either confident or very confident about their business prospects for the remainder of the year and into 2022, with 54% identifying new customers as a top area for growth. Meanwhile, 35% of businesses say they don’t believe a return to pre-pandemic levels will recover until after Q1 2022, with this sentiment felt strongest by transport and wholesale businesses who believe that demand will not return until at least August 2022.
Notwithstanding growing optimism, key fiscal and operational challenges still remain for Ireland SMEs. 29% say suppliers have gone into administration, liquidation or receivership, rising to 43% for those in the construction section and 41% for wholesalers. Other key challenges include increasing business costs (32%), overcoming Covid-19 safety protocols (29%) and renegotiating new rates with customers and suppliers (28%).
Further demonstrating the supply chain impact of the pandemic, more than one in ten (12%) say they have withheld payments to suppliers, with those in the transport sector (19%) most likely to have held back these payments. While subsequent impact on the flow of payments between Irish businesses is expected, its effects are likely to be long-standing.
Key findings show:
- Nearly half of SME’s (45%) say that it is taking longer for business customers to pay since the pandemic began
- On average, payment has been delayed by almost five weeks for those experiencing extended payment times (4.98)
- Bad debt, owing to the inability to pay or protracted default of debtors, is an issue for a proportion of SMEs, with nearly one third writing-off sums owed (30%), with an average of €36,392 lost per business
- The wholesale sector has been disproportionately impacted by payment issues, with 47% of those businesses suffering from bad debt
As a result, managing cashflow and accessing working capital is a key consideration for SMEs moving forward, with almost a quarter of SMEs (22%) say they now need cashflow support more than ever before. In addition, the Bibby Financial Services Ireland report also states that almost four out of ten (38%) SME’s say they will require additional funding into 2022 as they look beyond the pandemic and return to growth.
Such funding will be vital in ensure businesses can deal with inflation, overcome supply chain disruptions, ramp up recruitment to fulfil demand, and invest. As a result, considering solutions from the private sector that protect against bad debt and offer access to working capital will provide SMEs with certainty of payment and sustainable sources of liquidity.
The pandemic has also offered businesses an opportunity to reflect, with some entrepreneurs and business owners deciding it’s time to restructure, refocus, innovate and grow, while others have come to the conclusion that it’s time to exit their business totally. Over a third businesses (36%) say they are considering merger and acquisitions opportunities in the coming months, while one in ten (9%) SME owners are considering a management buy-in, rising to 19% for wholesale and 33% for transportation businesses. When it comes to funding transactions, SMEs owners consider private equity, business loans and invoice finance as the top three ways to finance merger or acquisition activity.
Mark O’Rourke, Managing Director of Bibby Financial Services Ireland, says that although times have certainly been more testing than ever before, he believes Irish SMEs are now on the cusp of a strong recovery as we look towards 2022.
"SMEs generally are showing significant resilience after such a turbulent few months, and are remaining positive despite the challenges that still lie ahead. Our new report shows there is genuine light at the end of the tunnel both for businesses and the economy. The time has come to begin to move forward with confidence.
However, as businesses recover and get back on their feet, its concerning that a third say their greatest challenge is rising business costs, while almost a quarter say they need cash flow support more than ever before. As a result, the private and public sectors need to remain focused on providing any required financial support to enable SMEs to do what they do best - drive employment, boost output, and fulfil consumer demand.
This help comes in many forms, be it through the provision of funding to unlock cashflow, supporting businesses in overcoming the complexities of trading overseas in a post-Brexit world or helping SMEs to understand changing customer behaviours and transitioning to digital operating models. The research ultimately shows that a diverse range of financial tools including invoice finance will help companies grow and prosper into 2022."
Download our report here


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Canada this week lifted all import restrictions on Japanese foods, which were imposed on April 1 in the wake of the ongoing nuclear crisis at the Fukushima No.1 nuclear power plant in northeastern Japan.
The Canadian Food Inspection Agency lifted the restriction Monday, saying that all products tested were far below radiation limits, the Japanese Ministry of Agriculture, Forestry and Fisheries said on Tuesday.
The Fukushima No.1 plant in Fukushima Prefecture, located about 220 kilometers northeast of Tokyo, was ravaged by the catastrophic March 11 earthquake and tsunami. It has suffered fires and explosions, leaking radiation.
Japanese economy news from JOC:
Japan Upgrades Economic Assessment
Amid fears of radioactive contamination, about 40 foreign countries and regions imposed import restrictions on Japanese foods. Canada became the first country to lift all import restrictions, the Ministry of Agriculture, Forestry and Fisheries said.
Japan's exports of farm and fishery products to Canada totaled about 4.6 billion yen ($57.5 million) in 2010.
The CFIA demanded test results verifying the safety of all food products imported from Fukushima and 11 neighboring prefectures -- Miyagi, Yamagata, Ibaraki, Tochigi, Gunma, Saitama, Chiba, Tokyo, Niigata, Yamanashi and Nagano.
As for the other 35 Japanese prefectures, the CFIA demanded certificates proving the origin of all food products.
Japan, the world's largest net food importer, has been revving up its food export drive in recent years. But the import restrictions imposed by about 40 countries and regions have dealt a serious blow to Japanese food shipments.
According to figures released by the Ministry of Agriculture, Forestry and Fisheries, Japan’s exports of agricultural, fishery and forestry products plunged 14.7 percent in April from a year earlier to $470.0 million.
Agricultural products, including processed foods, livestock products, grain, vegetables and fruits, nose-dived 18.5 percent to $267.5 million, while fishery products sank 11.7 percent to $187.5 million.
Hong Kong was the largest export destination for Japanese agricultural, fishery and forestry products in April, followed by the U.S. and South Korea. Japan’s U.S.-bound shipments totaled $76.3 million in April, down 3.3 percent from a year earlier.


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A LAW firm that specialises in cyber crime is to take High Court action against Ticketmaster (TM), following the data breach at the company last June (see LIVE UK 222).
Hayes Connor Solicitors says it has around 650 clients who were affected, of whom 63 per cent had experienced credit card fraud as a result of the data hack, and 31 per cent have suffered “psychological trauma”.
“We have sought to resolve this matter in a non-contentious manner, however, Ticketmaster maintains that it has not failed in its data protection duties.” Hayes Connor MD Kingsley Hayes tells LIVE UK. “Having exhausted all alternative routes, we will now be issuing the claim to the High Court.”
“When personal and financial data has been stolen, as was the case with Ticketmaster last year, it can be some time before fraudulent activity becomes evident, as stolen information is often used in batches – particularly when there are a large number of individuals affected.
“This serious data breach impacted thousands of customers who, like our existing clients, are highly likely to either have already had their personal information used for fraudulent transactions, or can expect this to happen sometime in the future.”
Hayes added that cyber criminals can go as far as setting up bank accounts and taking out credit in data breach victims’ names.
Last November, several major banks, including Lloyds, HSBC and the Royal Bank of Scotland, told LIVE UK that they were continuing to monitor customer accounts for the fraud attempts and had issued many replacement cards.
Live Nation Entertainment-owned TM said at the time that it had contacted all potentially affected customers, advising them to reset their passwords and offering them a free 12-month identity monitoring service.
Information which may have been compromised included customers’ names, addresses, email, telephone numbers, payment details and TM login details.
Hayes was not available to comment on the planned action as LIVE UK went to print.


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Forbes describes IoT and AI as two independent technologies that have a significant impact on multiple industry verticals. While IoT is the digital nervous system, AI becomes the brain that makes decisions that control the overall system. The lethal combination of AI and IoT brings us AIoT – Artificial Intelligence of Things – that delivers intelligent and connected systems that are capable of self-correcting and self-healing themselves.
22Miles Visual Communications solutions with PublisherPro.AIoT supports the AIoT architecture, on one hand in facilitating ingestion of data at the edge, like our sensor readings in our temperature sensing TempDefend, or proof of play in our content publishing to displays, on the other hand, processing it through AI, like our facial/image recognition, reformatting it into visual components, that are then scheduled and displayed in a dynamic fashion that fits the relevant application and market.
With full management control and enterprise governance, all ingested data feeds the analytics engine that translates it into actionable and real-time insights that can transform operations and experiences.
Vertical Markets 22MILES Serves
22MILES in the News and Blogs


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Pragmatic Play, a prominent content provider for the iGaming industry, has expanded its presence in Africa by partnering with PrideBet, a Ghana-based sports and casino brand. This multi-product deal allows PrideBet to offer Pragmatic Play’s complete portfolio of Slots content, including popular titles like Big Bass series, The Knight King, Gates of Olympus, and Sugar Rush. Additionally, PrideBet players can enjoy Pragmatic Play’s full suite of Virtual Sports content, which produces realistic and fully immersive entertainment experiences powered by a real-time physics engine.
This partnership represents Pragmatic Play’s latest move in Africa as it consolidates its position in regulated markets across the continent. Ghana is one of the biggest and most highly regulated markets in Africa, and with player protection and sustainability being top priorities for Pragmatic Play, this partnership offers an excellent opportunity to expand its presence on the continent.
Irina Cornides, Chief Operating Officer at Pragmatic Play, expressed her delight at welcoming PrideBet to their expanding client base. She added that this partnership represents an excellent opportunity for the company to expand its presence in Africa, with player protection and sustainability being top priorities.
Kwadwo Amaning-Kwarteng, Country Manager at PrideBet Ghana, sees Pragmatic Play as a strategic partner in the company’s strong ambition to become the premier sports betting and gaming destination for players in Ghana and beyond. He further stated that the addition of elite-level content from Pragmatic Play would allow them to attract even more fans of both verticals and truly stick to their slogan of “Together We Play” at PrideBet.
This partnership between Pragmatic Play and PrideBet highlights the importance of expanding iGaming in Africa and providing players with high-quality content that delivers immersive entertainment experiences.
The post Pragmatic Play Expands Presence in Africa with PrideBet Deal appeared first on iGaming.org.


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Opinions from analysts around Wall Street on Tuesday
From Standard & Poor's Equity ResearchTHINKEQUITY UPGRADES APPLE TO BUY
ThinkEquity analyst Darren Aftahi says Apple's (AAPL) new product rollout powered a solid fourth quarter. He notes, even excluding a 1-time tax benefit, EPS grew a robust 50% year-over-year. He believes, with a refresh of its Mac and iPod lineups and three new carriers set to debut iPhone in Europe in November, Apple will continue to outpace the industry in growth heading into the holiday season.
Aftahi ups $4.54 fiscal year 2008 (September) EPS estimate to $5.33, $4.81 fiscal year 2009 to $5.97. He says by carrying forward Apple's current calendar year 2007 p-e of 40 to his calendar year 2008 EPS estimate of $5.69, he arrives at a fair value of $227, or 30% upside, making shares a buy, vs. his former rating of accumulate.
JEFFERIES CUTS TEXAS INSTRUMENTS TO HOLD FROM BUY
Texas Instruments (TXN) posts $0.52 (including a $0.02 gain) third quarter EPS. It sees $0.48-$0.54 fourth quarter EPS.
Jefferies analyst John Lau says Texas Instruments is still one of the best semiconductor companies in the world with strength in the analog and wireless segments. However, with worse-than-expected share losses in the wireless segment, he believes that the company's fundamentals are weakening.
Lau cuts $1.80 2007 EPS estimate to $1.78, and his $14.2 billion revenue estimate to $13.8 billion. He cuts $43 target price to $37.
BAIRD DOWNGRADES HUB GROUP
Hub Group (HUBG) reported third quarter results and issued disappointing guidance. Baird analyst Jon Langenfeld says he's downgrading Hub Group to neutral from outperform, as the third quarter shows strains of domestic freight recession. He says, while $0.42 third quarter EPS beat his and consensus estimate of $0.40, tax rate and bonus reversals added $0.04 to bottom line.
Langenfeld says he downgrades due to the difficult external environment, which limits near-term growth; growing pricing pressure within the domestic freight environment; and few near-term catalysts for Hub Group, given the continuing domestic freight recession, lack of acquisition activity, and internal organizational restructuring.
He cuts $0.40 fourth quarter EPS estimate to $0.36, $1.44 for 2007 to $1.42, and $1.63 for 2008 to $1.50.


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The Bharat Interface for Money (BHIM) UPI app saw transactions of 6.8 million for the month of August 107, and transactions worth Rs 1,898.6 crore. There were 16.6 million UPI transactions in August, with Rs 4,127 crore being transacted. Thus, BHIM processed 41% of all UPI transactions and accounted for 46% of the amount transacted in August. In August 2017, Number of transactions using BHIM increased by 25% to 6.8 million from 5.4 million last month, while amount transacted also increased to Rs 1,898 crore with a growth of 19%, according to data provided by the National Payments Corporation of India. The NPCI is the bank-owned organization that runs the Unified Payments Interface (UPI). UPI doesn't allow wallets, in order to give banks a competitive advantage. Currently, BHIM is live on 55 banks and has seen over 18 million app downloads. However, the National Payments Corporation of India (NPCI), which developed BHIM, does not give information on the number of virtual payment addresses (VPAs) created and the number of accounts linked to the UPI. Also read: Why is the government funding BHIM? Other issues In terms of net additions, the number of transactions for BHIM grew by 1.4 million in August 2017 while the total amount transacted was up by Rs 298.5 crore. In the previous month (July 2017), number of transactions had increased by 0.8 million, and the amount transacted had grown by Rs 113.4 crore. With growth in the number of transactions, the average amount per transaction for BHIM has been on the…
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It’s no secret that devices are becoming ever more intelligent. New business models, technologies, trends, and developments including big data, the internet of things, and cloud computing mean data security requirements have changed. Twenty years ago, firewalls were the ultimate in security.
Now though, they are an ever smaller component of security strategies. For example, the moment a company considers deploying a cloud solution they must also think about secure integration and operation, and of course the security of the software solution itself. After all, nobody wants to lose control over important business data.
Before, everything was stored on a mainframe in a locked room. But with increasing interconnection of companies and business models, more and more IT and manufacturing systems are wired up to the internet, making them easy targets for hackers. The more companies invest in cloud applications, the greater the need for solutions that protect these fundamentally new infrastructures.
An interesting question, for example, is where should a company?EU?s data be stored? This is an important issue, especially in an era of smart manufacturing. It is part of the reason why mid-size companies hesitated for a long time before deploying cloud solutions. Today it makes even more sense to bring in a strategic technology partner as cloud vendors often have higher security standards than most companies have for storing their own data.
Without the cloud, many business models would be unattainable for companies, such as digital farming and intelligent transportation systems, and of course, smart manufacturing. Every new use of technology inevitably raises new security issues.
Platforms Bring Flexibility and Security
One way of going digital without compromising on security is the platform-as-a-service model which creates a safe environment for customers to develop and operate cloud solutions from vendors or even their own solutions. Some of the security measures that…


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CPSC: Magnetic Sketchboards by Battat Recalled for Choking Risks
11/02/2011 // WPB, FL, USA // Injury Lawyers News // Nicole Howley
Plattsburgh, NY — Battat Inc. and the U.S. Consumer Product Safety Commission (CPSC) are voluntarily recalling Toulouse-LapTrec magnetic sketchboards in the U.S. and Canada. The CPSC announced the recall on November 2, 2011, for choking hazards the defective product poses to consumers.
The recall was issued after it became apparent that the magnetic tip of the drawing pen could dislodge from the pen, which poses a choking hazard to children.
“This recall involves the Toulouse-LapTrec magnetic sketchboard, which has a white plastic writing surface bordered by either a red or brown plastic frame, and has a bean bag type backing. The sketch board has four animal shapes across the top – a rabbit, dog, cat and duck. The multicolored magnetic pen is affixed to the front of the sketchpad. The model number BX1026 (red frame) or BX1027 (brown frame) can be found on a paper wrapper that comes with the product at the time it was purchased,” reported the CPSC.
The sketchboards were sold for about $16 at Target, Barnes and Noble stores, and other various retailers nationwide. Consumers are advised to contact Battat for a free replacement sketchboard.
For more information concerning the product recall, consumers can contact Battat toll-free at (866) 665-5524 between 8:30 a.m. and 4:30 p.m. ET Monday through Friday, or visit www.battatco.com.
Legal News Reporter: Nicole Howley-Legal news for product liability attorneys.
Url: West Palm Beach Personal Injury Lawyer News


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Holly Willoughby opted for a very stylish denim outfit on Wednesday as she hosted I'm A Celebrity... Get Me Out Of Here! alongside Declan Donnelly.
The 37-year-old presenter looked nothing short of sensational as she boldly rocked double denim, in a short blue skirt and shirt.
Holly's outfit did not come cheap though, as all components added up to cost almost £500.
The blonde bombshell sported an axelle shirt from ba&sh.
The denim-look shirt features a ruffle neck, and is still available for £165 online.
Meanwhile, she teamed it with a reworked edition of Madewell's rigid denim straight mini skirt, which can still be bought for £43.96.
The This Morning star teamed her outfit with a pair of chunky brown boots, which her stylist confirmed are the Nanette combat boots from Grenson.
Fans can get their hands on the tan shoes for £280, which are available online through shopbop.
Holly's outfits have been a huge hit with viewers since she hit screens as Ant McPartlin's replacement, with many questioning the star about where they could find her daily ensembles.
However, fans were recently talking about her look for a different reason, as they questioned why she appeared to have changed mid-way through Anne's Bushtucker Trial.
At one moment Holly was wearing a black sleeved top without a pattern, and the next scene showed it featuring a design on the front.
But ITV have now cleared up what happened – and no, Holly did not change her top during the show.
It was in fact down to a “mistake” in editing, after producers spotted Holly’s jumper had a logo on it.
With this not allowed on screen, not just on ITV but other shows and channels too, the decision was made to “blur out” the top as to not re-film the trial.


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Sales from the upcoming holiday season are expected to cross $1 trillion USD.
Origin article by eMarketer Editors
Despite healthy consumer spending overall in 2019, the upcoming holiday season will be affected by economic uncertainty and a shorter timeframe. (This year has six fewer days between Thanksgiving and Christmas than in 2018.)
We forecast that total US holiday retail sales will climb 3.8% to $1.008 trillion this year: the first-ever trillion-dollar holiday season. Last year saw even less growth, at 2.4%.
Cyber Monday is once again expected to be the biggest online shopping day in US history, with a total that could approach—or even surpass—$10 billion. Black Friday, Thanksgiving and “Cyber Tuesday” should also rank among the leading days for the season.
“Holiday spending growth will be driven by a consumer economy that remains robust, due to low unemployment, rising wages, a strong stock market and healthy consumer confidence,” eMarketer principal analyst Andrew Lipsman said. “At the same time, rising tariffs, trade war tensions, stock market volatility and dampening consumer sentiment all weigh on the season’s growth potential. A shortened calendar between Thanksgiving and Christmas also presents a challenge.”
Brick-and-mortar remains dominant. In-store sales for the 2019 holiday season will increase by 2.5% to $872.25 billion. Brick-and-mortar still represents the majority (86.6%) of holiday sales, but its share has steadily declined.
Ecommerce sales this holiday season will increase 13.2% to $135.35 billion. That means ecommerce will represent 13.4% of all holiday retail sales this year, a figure that has been growing steadily.
eMarketer estimates mcommerce will grow 25.1%, and it will represent 47.5% of holiday ecommerce sales this year.


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a Grand Theft Auto 6
trailer will arrive early next month, the first
official word on an inevitable new installment in the open-world crime series.
This follows a
(may require registration or subscription) that Rockstar was finally set to announce the sequel
as early as this week. To call a new GTA game highly anticipated seems like an
understatement, as Grand Theft Auto V
has remained a bestseller since
launching over a decade ago, and has
sold over 180M copies
sales of the series are now well over 380
. The story was originally unconfirmed, attributed to "people familiar
with [Rockstar's] plans," but Jason Schreier is a very reliable source, and his
report supported an indication
from financial reports
from Rockstar parent Take-Two, as well as a
. Now there's a
about this, celebrating next month's 25th anniversary of Rockstar
Thanks to the incredible support of our players worldwide, we have
had the opportunity to create games we are truly passionate about — without you,
none of this would be possible, and we are so grateful to all of you for sharing
this journey with us.
In 1998, Rockstar Games was founded on the idea that video games could come to
be as essential to culture as any other form of entertainment, and we hope that
we have created games you love in our efforts to be part of that evolution.
We are very excited to let you know that in early December, we will release the
first trailer for the next Grand Theft Auto.


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SINGAPORE — Publicis Groupe Singapore agencies Publicis Singapore, Leo Burnett, and BBH have swept the Singapore Effies with a combined haul of five Golds, five Silvers, and one Bronze for work across Singtel, McDonald’s, the Health Promotion Board, Samsung, and Income Insurance Limited. Publicis Singapore Strategy Director Valerie Wang also took home the inaugural Planner/Strategist of the Year prize in recognition of her contributions to winning work.
As a result, Groupe client Singtel was the most awarded brand of the night, bringing home a total of four Golds, two Silvers, and one Bronze from both Publicis Singapore and Leo Burnett.
Publicis Singapore was awarded two Golds, two Silvers, and one Bronze for two Singtel campaigns – GOMO: “5G Not Just Better, Cleverer” and “Roaming (Kinda) Travel Influencers” – and for one campaign with the Singapore Health Promotion Board, “It’s OKAY to Reach Out.”
Leo Burnett Singapore was awarded two Golds and one Silver for its Singtel entries “Live from the Underground” and “Singtel Super Stacker” along with one Gold for the agency’s McDonald’s “Scream for Ice-cream” campaign.
BBH Singapore was awarded one Silver for its Samsung campaign, “Make it Yours, Make it Bespoke” and one Silver for its Income Insurance Limited campaign, “Happy Hour with Income’s FlexiTravel.”
“We’re proud and grateful that such a breadth of work from our Groupe has been recognized for outstanding creative effectiveness. While each agency has different strategies for great work, what’s common across all is the passionate belief that creativity continues to be key to helping brands win today,” said Joanne Theseira, CEO of Publicis Communications Singapore.
See the full list of winners here.


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Recalls can be a big inconvenience for car owners — but that is changing. From Tesla to General Motors, more automakers are using smartphone-style over-the-air updates to replace the faulty software responsible for the recalls.
Automotive recalls have been running at or near record levels in recent years. Last year, around 31 million vehicles were recalled for safety-related problems in the U.S., more than twice as many as in 2010, according to the National Highway Traffic Safety Administration, or NHTSA. Government data show that a growing share of the recalls involve glitches in the software controlling the fast-expanding array of onboard computer systems. And, in many cases, it's now becoming possible to fix these problems remotely.
All Tesla vehicles come with the ability to download software to update digital control systems, and most EV startups, such as Rivian and Lucid, plan to build over-the-air, or OTA, capabilities into their products, as well. Ford will have 1 million vehicles on the road with OTA functionality by the end of the year, a number that could grow to 33 million by 2028, the company said. Other manufacturers, including GM, Mercedes-Benz and Volkswagen, are making similarly aggressive moves.
The technology, which first became commonplace on smartphones, is "going to become pretty much universal over the next five years," said Sam Abuelsamid, principal auto analyst with Guidehouse Insights. The payoff, he said, is likely to be enormous — for both carmakers and car buyers. Safety advocates and regulators have reason to celebrate, as well.
Several new recalls underscore the benefits. Last week, Tesla announced that it will recall nearly 300,000 Model 3 sedans and Model Y SUVs sold in China because a glitch in their driver assistance systems can lead to surges of unintended acceleration. GM, meanwhile, is recalling a similar number of 2021 sedans and SUVs sold by its Buick, Cadillac, Chevrolet and GMC brands in the U.S. because their warning lights may not be triggered by airbag failures.
Tesla has routinely used over-the-air updates to tweak onboard technology, and it plans to remotely download new software to fix the latest problem. GM will take a similar approach, remotely replacing the faulty software, although it also said "owners may schedule to have the updates performed at a GM dealer."
The approach is becoming increasingly common. In February, Mercedes said owners of 1.3 million vehicles could avoid dealer visits to repair a software-related problem if they subscribed to the company's Mercedes Me subscription service.
OTA technology won't eliminate the need to take a car in for repairs. Plenty of recalls still involve faulty mechanical systems, such as bad brakes, leaky fuel lines or misfiring airbags. But automakers and industry analysts agree that a sizable share of recalls could be handled remotely in vehicles able to receive remote software downloads.
While skipping a service call is a clear plus for motorists, there are other benefits, said Abuelsamid, the analyst, who said, "There are enormous cost savings associated with using over-the-air updated versus bringing vehicles back to the dealership."
There is yet another significant benefit. At most, only about 70 percent of owners affected by recalls typically get repairs completed, according to the NHTSA. And the number can drop sharply when the problem appears to be relatively insignificant. But even those "can prove deadly," said former NHTSA Administrator Joan Claybrook, a longtime automotive safety advocate.
In 2019, the vehicle tracking service Carfax estimated that 63 million vehicles were on the road with open safety recalls, a 34 percent increase from 2016.
While remotely handling recalls is one of the primary benefits of building OTA technology into new vehicles, there are other advantages. The technology can be used to send new features to vehicles, as well, much as smartphone manufacturers make new apps and functions available.


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Dick's Sporting Goods Inc. is taking a step further to advocate for gun control, part of a rapid transition for the retailer that's also a major vendor of firearms in the U.S.
The company has retained Glover Park Group to lobby congress on the matter, according to a disclosure form filed in late April. The move is unusual for a firm in the retail sector, where few brands tackle such a politically-charged issue for fear it will turn off customers.
Following a mass shooting at a Parkland, Florida high school in February, Dick's announced it would stop selling assault-style rifles and high-capacity magazines. It also increased the firearms purchase age to 21.
Dick's, the biggest sporting-goods retailer in the U.S., was one of many brands to eschew the gun industry following the shooting. Walmart Inc., Kroger Co., L.L. Bean Inc., and Orvis Co. all made changes to their firearms offerings. Other companies severed ties with the National Rifle Association as a result of nationwide protests that followed the Parkland attack.
Chief Executive Officer Edward Stack said at the time that while the company supports second-amendment rights, "we have to help solve the problem that's in front of us. Gun violence is an epidemic that's taking the lives of too many people, including the brightest hope for the future of America--our kids."
The sporting-goods retailer is working with three lobbyists from the Glover Park, a legislative and public affairs firm, who have worked with both Democrats and Republicans. The disclosure form listed the lobbyists as John Johnson, who worked for former President Bill Clinton, Andrew King, who previously worked for Republican Senator Lindsey Graham, and Christina Brown, who worked with Democratic Senator Bob Casey.
A spokesman for Dick's declined to comment. Glover Park didn't respond to requests for comment.
After changing the company's stance on guns, Stack vowed to be become an advocate and visited Washington in March to meet with members of Congress. That included being hosted by Senator Dianne Feinstein, a California Democrat who has been a gun-control advocate for decades.
Stack's push on gun control comes as the business his father founded faces difficulties. The stock has fallen about 38 percent in the past 12 months as the retailer faces increasing competition from Amazon.com Inc. and suppliers, such as Nike Inc., that are generating more revenue through their own stores and websites. Ending the sales of some guns will also hurt revenue.
The hiring of Glover Park Group by Dick's was reported earlier by The Federalist.


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Tejal Rao is the California restaurant critic at The Times and a columnist for the The New York Times Magazine, based in Los Angeles. She has won two James Beard Foundation awards for her restaurant criticism.
Friday: Some expert advice from Los Angeles. Also: More reopening updates.
By Jill Cowan and Tejal Rao
You can sip it or have it with rice and yogurt. You can treat it like a soup or a glass of savory juice.
By Tejal Rao
A White House meeting with hospitality executives this week did little to clarify plans for millions of affected workers.
The Great Depression and other hardships made lasting changes, but the recent boom in sourdough starters, vegetable gardening and buying local may not be as permanent.
Rajma, Punjabi-style red beans, is the best kind of comfort food right now.
In isolation, the D.I.Y. fantasy world of the Chinese YouTube star is a dreamy escape, and a lesson in self-reliance.
Online orders and no-contact pickup can be an economic lifeline, but someone still has to make the food.
In Los Angeles, some community-supported agriculture services have seen their membership triple in just a few weeks.
A quick purée, seasoned with lemon and garlic, is a kind of delicious all-purpose dip, sauce and spread.
There’s no traffic. Drive-throughs are open. But anxiety is everywhere.


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FALLING OFF A CLIFF…. About a month ago, initial estimates showed that the U.S. economy shrank by 3.8% in the fourth quarter of 2008. One analyst, at the time, described it as an economic “train wreck.”
If 3.8% was a train wreck, we’re going to need a whole new list of adjectives to describe the new numbers.
The fourth-quarter estimate was revised this morning, and as it turns out, the economy shrank by 6.2%. This graph, by way of the Washington Post, helps drive the point home nicely.
It was the worst economic showing in a quarter-century.
There was, alas, no silver lining. The Post reported, “Nearly every segment of the economy contracted sharply during the fourth quarter, the data show. Consumer spending fell 4.3 percent, compared with 3.8 percent in the third quarter. Investment in office buildings, shopping centers and other nonresidential structures sank 5.9 percent, compared with an increase of 9.7 percent in the previous quarter. Real exports of goods and services plummeted 23.6 percent, compared with an increase of 3 percent in the third quarter. As tax revenue plunged, state and local government spending also fell 1.4 percent, after rising 1.3 percent in the period from July through October. For all of 2008, the economy grew 1.1 percent, in contrast to an increase of 2 percent in 2007.”
Dean Baker added, “I’ve been pretty pessimistic all along, but [the numbers] came in worse than I expected and that’s pretty bad. You worry this is just a free fall.”


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Microsoft is bundling PlayerUnknown’s Battlegrounds with the Xbox One X. The hot as fire battle royale multiplayer game just launched as an Xbox exclusive and racked up over 1 million players in 48 hours. That’s a million players without a demo version. To celebrate, Microsoft is offering the game as a free bonus to all Xbox One X buyers until the end of the year.
Despite some widely reported technical issues, it appears Battlegrounds will be as big of a hit on consoles as it is on the PC. That’s a lot of chicken dinners.


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from the doesn't-fit-in-the-palm-of-your-hand dept.
frontwave writes "After the huge success of the iPad, with over 4 million units sold since its introduction, all major hardware vendors of PCs and mobile devices are coming out with new tablets in the next few months, including Apple with a smaller version of the popular product. Analysts estimate the market for tablet devices (over 6" screen size) to be around 25 million units for 2011."
You know, Callahan's is a peaceable bar, but if you ask that dog what his
favorite formatter is, and he says "roff! roff!", well, I'll just have to...


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The Nigerian Postal Service (NIPOST) says it will introduce a new electronic money order service in February. This news is coming at a time when the Post is poised to undertake a major restructuring.
This development was disclosed when the Post Master general of NIPOST, Mr Bisi Adegbuyi, led his management team on a courtesy visit to the Bureau of Public Enterprise recently. NIPOST’s electronic money order will allow Nigerians to send money anywhere in Nigeria within a short period of time. This represents the first move to transition the service from being focused on a single product.
More reforms for NIPOST
A singular focus on mail delivery services was one of the crucial challenges identified as a problem for the Nigerian Postal Service. Diversifying its product offerings is a key aim in the new reform plans which will see them branch off into multiple services.
According to Mr Bisi, “NIPOST has been re-engineered to carry out certain services, among them are e-commerce, e-insurance, rural banking, and a Post Youth Engagement Strategy, aimed at the youth who form the vast population of Nigeria.”
Since 2017, talk of a restructuring at the Nigerian Postal Service has been widespread and imminent. In August last year, the Minister of Communication, Abdur-Raheem Adebayo Shittu, brought the matter to the front-burner. He launched two new documents: Restructuring and Modernising Nigerian Postal Service, and NIPOST Vision 2020. Both documents aim to modernize the Post’s operations and give the Post a new set of goals to pursue.
Moves to restructure NIPOST has been hailed as a welcome development by industry watchers. The Bureau of Public Enterprise, has been tasked with the mandate to reform the service.
According to the Director General of the BPE, Mr. Alex Okoh, the reforms would lead to the unbundling of NIPOST into several business components. He is optimistic that this would bring about a stronger brand, efficient service delivery and help the service become more profitable.
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Credit cards costing small businesses $100 a week
Shoppers are used to getting mad at big corporations that charge eye-watering credit card fees.
Airlines, ticket sellers, taxi companies and parking buildings have few qualms about slapping buyers with a $2, $5 $10 or even $20 fee on top of their original purchase.
But little businesses are struggling with credit card fees they do not feel they can pass on to shoppers, fuelled by the rise of tap and go payments, say retail and business advocates.
"It's interesting because all the big companies pass on credit card charges on so it's surprising that small companies can sustain not passing it on," says software company Xero's managing director Victoria Crone.
"It's a far more intimate (customer) relationship than a big company so they are far more cautious."
The issue is heating up because shoppers have embraced handy tap and go payment cards, which pay for purchases under $80 with a single tap and now account for millions of payments a month.
Business advocates say the system is pushing money into the credit card network at the expense of cheaper eftpos processing, which will end up costing shoppers money when small outfits can no longer absorb the cost.
The Commerce Commission raised fears of a payment monopoly driving up prices for consumers in its 2014 Consumer Issues report, released to Stuff under the Official Information Act.
"PayWave and PayPass have been touted as the latest and greatest advancement in retail technology ... (but) already we are seeing signs that NFC transaction systems are replacing the current eftpos payment system with its lower fee structure. This could result in a transaction fee structure monopoly and increased charges to consumers as traders pass on their increased transaction costs through surcharges or increased prices," it said.
Crone says more small businesses are fighting back by leaving the tap and go function switched off on their payment terminals to avoid forking out the extra fees.
That's not very convenient for shoppers, however. Crone argues a better way would be to beef up the eftpos system with added convenience to let the old system compete.
New Zealand was an early adopter of eftpos and it has served us well. But debit cards are replacing eftpos cards because they offer convenient contactless and internet payment options, which eftpos cards do not, says the Retailers Association.
Retailers say PayWave is displacing eftpos transactions because when people use contactless debit cards the payments are processed through the credit card network, even though they are spending their own money from their bank account.
This costs retailers extra, because while eftpos charges a fixed six monthly fee, credit cards charge a percentage margin, meaning every small transaction costs.
Paying per swipe "is cool if you're selling high value goods. But contactless is targeted at low value goods," says Crone.
In 2009 the Commerce Commission settled a case with banks and credit card companies over the way they charge for credit cards, and for the first time gave shops the right to add a margin to pass on the cost of credit card payments. The Commission said banning shops from adding a surcharge was "shielding cardholders from paying the cost of their payment choice."
The settlement was designed to cut credit card fees paid by retailers but a review in 2013 found that, while some retailers were paying lower fees, many were actually paying more.
Those who were paying less were more likely to be big retailers.
Despite this, a 2012 survey of 3500 retailers found only about 15 per cent refused to take Visa and Mastercard and fewer than one in 10 surcharged for credit cards. The survey has not been repeated, despite the Commerce Commission noting in 2013 that credit card margins looked set to rise again.
Crone says she has personally noticed more small businesses refusing to switch on their terminal's tap and go function, as well as some refusing credit cards altogether or adding a margin to credit card purchases. She is surprised more small business are not passing on the costs.
She estimates a small business turning over $20,000 a month could be paying $100 a week in credit card transaction fees if it is charged a 2 per cent margin.
"This is likely around 10 times the cost of the eftpos unit and likely around the same cost as their full telecommunications spend," she says.
Xero and the Retailers Association want an eftpos revival: more investment in the eftpos network to inject more convenience so it can compete with credit and debit payments. Crone says it is crucial to hang on to eftpos because it benefits both businesses and consumers.
"We need to encourage an easy eftpos alternative because ... eventually the extra costs that are being incurred via countless cards will be passed on."
Banks are already developing instant mobile phone payment methods that let people pay immediately for small purchases from their bank accounts.
"You want something you can use to pay for your coffee," says Crone.
In the meantime, don't be angry if you try to tap and go but find that the helpful function has been disabled.
The shop may be trying to make your coffee cheaper.