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When something big, even shocking, happens, we naturally want answers. And in this online news cycle, we want them now.
Take the recent bankruptcy of Barneys, the iconic luxury (don’t call us a department store!) department store. According to the flurry of stories written over the past week, Barneys owes its unfortunate demise to 1. the emergence of online shopping, leading to decreased foot traffic to stores 2. high priced urban leases 3. competition from its own brands and 4. hedge fund ownership.
In a statement, Barneys went with reasons 1 and 2: “Like many in our industry, Barneys New York’s financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand,” CEO Daniella Vitale said.
Nowhere in any of these reasons/excuses lies the most likely culprit of Barneys’ problems and subsequent bankruptcy: the company itself.
Let’s start with a big caveat. Barneys is a private firm, which means the company has not had to disclose financial figures up until this point. The lack of transparency makes it hard to analyze the company’s situation.
With that said, I offer exhibit A in indicting the company’s leadership circle: the broader luxury market, unlike the mid-tier market, is absolutely killing it right now. Last year, the global luxury market grew a robust 5 percent to an estimated $1.36 trillion, with positive performance across most segments, according to a report by Bain consulting firm.
If Barneys can’t succeed in such a favorable market, when can they succeed?
Since the Great Recession more than a decade ago, wealth inequality has widened, with the rich getting richer and the middle class shrinking. Therefore, it’s no accident that the two retail segments that have performed relatively well in the United States during this time have been luxury and discount/dollar stores, the top and bottom ends of the markets.
Meanwhile, mid-tier retail chains, especially department stores and mall-based apparel specialty shops, have struggled as shopping has migrated from physical stores to the Internet.
Over the past few years, we’ve seen several once prominent chains have filed for bankruptcy, including Borders, Payless Shoes, Radio Shack, Toys ‘R Us, Sears, David’s Bridal, and Nine West to name a few. In most of these cases, these retailers were either too late or inept to build a viable e-commerce strategy.
Here’s why the “blame it on the Internet” excuse doesn’t work for Barneys. Yes, online sales are important for all types of retailers but less so for luxury goods. Rich people still like to see the merchandise up close and personal, aided by highly trained and capable sales staff.
And unlike the mid-tier retailers that have struggled, Barneys does not directly compete with Amazon, the 1,000 pound juggernaut of online retail. People go to Amazon for price and convenience while people go to Barneys and its kin for quality, status, and exclusivity.
Are rents high in New York City? Well, duh. There’s a reason why the rents are rising: affluent people want to live in New York. That’s why you need to sell more stuff to those people to keep paying the bills.
So if Barneys is not selling enough very expensive merchandise to keep the lights on, then that’s the company’s fault.
With all of this talk about leases and the Internet, we sometimes forget that the raison d’etre for luxury stores like Barneys to exist is to convince people to buy stuff. That’s called merchandising and marketing.
More specifically, since Barneys’ does not make the goods it sells, it must work with luxury brands to generate sales. As CNBC noted, luxury brands are increasingly looking to sell their products to consumers.
Why is that? Trust me, brands don’t really want to run physical stores or websites because that’s not their core business. Plus, judging by the leases in New York, these operations are expensive.
That’s why they need retailers. So if retailers are failing to get the job done, then brands will take matters into their own hands.
Barneys’ arrogance probably hurt them too. In a 2016 interview with the Business of Fashion, then CEO Mark Lee poo-pooed the ongoing trend of allowing brands to directly operate stores-within-stores inside Barneys, a concept popular in Asia and increasingly so in America.
“We’re not a landlord for brands,” Lee sniffed. “People come to us for the Barneys choice; the Barneys point of view.”
Prior to 2012, Best Buy thought the same thing. The consumer electronics retailer had long felt it was pretty good at selling things. But falling same store sales and changing leadership prompted Best Buy to eventually adopt the store-within-a-store model. Today, against all odds, Best Buy is once again thriving.
Barneys appears to have recognized its error. In recent years, bag maker Goyard, which sells $1,150 handbags, had begun to rent space in Barneys Madison Avenue store. It was probably better for Barneys to swallow its pride and at least generate some revenue from rent than not earn anything from lack of consumer interest.
Yes, it’s a difficult time to be a retailer these days. The Internet is a disruptive force that has transformed retail. And global economics can be wacky.
But sometimes, the demise of a retailer comes down to this simple reason: the company just failed to execute.
Perhaps journalists and analysts want to instinctively absolve Barneys of responsibility because they cater to rich people. After all, struggling mid-tier retailers like JCPenney don’t get that kind of deference.
But even rich people and companies that cater to rich people can still screw up.


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Samsung, the world’s biggest memory chip maker, also makes some of the fastest SSDs in the world. Last year, the company launched its first consumer-grade PCIe 4.0 SSD. Now, the company has started teasing a new device that looks like a portable SSD, and it could launch soon.
The South Korean firm has started teasing a portable rugged device with the hashtag #RuggedDurability. From the looks of it, the device looks like a rugged version of the T7 SSD. It appears to have a rugged body, a USB Type-C port, and a status LED. It could launch in various storage capacity options. It remains to be seen if it features a PCIe SSD or a SATA SSD.
Samsung’s T7 and T7 Touch SSDs, which were launched in the first half of 2020, are already pretty rugged. They have a solid aluminum casing and shock resistance of up to 2 meters. However, the upcoming SSD could feature even better durability and we can see an MIL-STD 810G rating and even resistance to extreme temperatures.
Would you buy this rugged SSD? Let us know in the comments section below.
Join SamMobile’s Telegram group and subscribe to our YouTube channel to get instant news updates and in-depth reviews of Samsung devices. You can also subscribe to get updates from us on Google News and follow us on Twitter.

domain: news


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[internetworkers] media notes
thomas at tbeckett.com
Wed Sep 18 16:32:20 EDT 2002
A couple of interesting news items popped up in local pubs today.
- Hesketh.com had their entire corporate site poached by Eastern Europeans
and sold to an unsuspecting Brit firm.
- Todays Geeks, Artists and Musicians are tomorrow's prosperity! The cover
feature in this weeks Independent outlines how the Triangle has the highest
proportion of talented/creative people in the U.S. This will create the
foundation for the Next Big Thing in the tech economy.
Not online yet, but it will be eventually at: http://indyweek.com/
More information about the InterNetWorkers


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Golf holidays favourite La Manga Club has received three nominations in this year's World Travel Awards.
The Murcia attraction is in the running to pick up gongs for being Spain's leading golf resort, Europe's leading golf resort and Europe's leading golf and leisure resort and chief executive Adrian Constant claimed to be "delighted" to receive such recognition from the Oscars of the tourism industry.
Noting that La Manga Club has "led the way" for European resort destinations since being the first to launch almost four decades ago, he stated: "These nominations are the latest in a long line of plaudits to highlight the fact that La Manga Club is one of the finest resorts in the world."
The awards are voted for by the general public as well as industry professionals, representing well over 100,000 travel agencies in more than 100 countries around the world.
The La Manga Club blog has picked out the luxury holiday resort in Spain's new Advanced Football Academy (AFA) as one of the highlights of its 2010 sports offering.
Held at the world-renowned La Manga Club Professional Football Centre, the AFA "offers a more intensive programme" than the standard five-day Football Academy for three to 16-year-olds, with budding soccer stars aged between 13 and 18 able to attend two daily sessions.
Fitness and stamina are the focus of the morning's training (between 09:00 and 10:00 local time), while technical skills are concentrated on in the afternoon (between 16:00 and 17:30).
The price per week of an individual child attending both lots of sessions is 275 (£242), while it costs 250 a head to do just the technical work.
La Manga Club, the luxury holiday resort in Spain, has launched some special offers on chocolate treatments as part of its Easter holiday celebrations.
Starting yesterday (April 5th) and running throughout this month, Spa La Manga Club is giving visitors the opportunity to enjoy its Chocotherapy - The Full Works package for 90 (£79.42).
The deal includes a body scrub, a chocolate body wrap and a full-body chocolate massage, and those booking the treatment will receive complimentary access to all the spa's facilities, such as the Jacuzzi area and fitness centre.
A new drive to convince more people to take their holidays in Spain will star Catalan chef Ferran Adria.
The renowned cook will become the new face of Spanish tourism as the country seeks to promote its already internationally-recognised cuisine to holidaymakers in Europe, China and the Middle East.
Launching the new campaign in London, Spanish tourism minister Joan Mesquida described Adria's achievements as "the tip of the iceberg" of Spanish food and said: "The success of Spanish gastronomy is not going to fade away soon."
Spain remains a hugely popular holiday destination, attracting tens of millions of tourists each year.
Thomas Norret of Denmark has won the first Ecco Tour La Manga Golf Masters tournament.
He emerged victorious after a six-hole playoff, with fellow Dane Kasper Linnet Jorgenson and Norwegian Marius Thorp sharing second place.
Going into the tournament, Norret was 18th in the Ecco Tour's order of merit. Finland's Janne Mommo hit a hole-in-one in the first round of the competition and was tied for the lead at the end of the first day, but it was Norret who finished on top.
Golf holidays in Murcia are popular among fans of the club and ball game, it has been suggested.
Travel Daily UK reported that the region has "been a favourite" among customers of Golfbreak.com for some time, with the courses, venues and climate all contributing to the appeal.
And it is also convenient to travel to, with the majority of airlines running flights to Murcia daily and Alicante's airport just 45 minutes away.
Holidays in Spain are still the number one choice for European holidaymakers, according to a new report.
The research carried out by survey organisation Eurobarometer found that 10.4 per cent of those questioned were planning to take a Spanish holiday, trailed by France and Italy respectively.
Respondents to the survey said their main motivation for getting away was rest and recreation, followed by a desire for sunny weather and good beaches.
Guests at Murcia's La Manga Club will have access to a number of special water activity offers from April 1st if they are qualified divers.
The team from Adventure Divers will be back at the luxury holiday resort in Spain through to June and are throwing in some fresh deals to attract those already initiated in the wonders of water exploration.
A guided shore dive is available for free to people buying any 4 x guided diver package, while anybody booking two boat dives in the marine park will be given kit hire for no charge.
There will also be a Deep Diver package on offer as the speciality of the month.
Scuba instruction and guided dive specialist Adventure Divers will be at La Manga Club in Murcia, Spain from April 1st, giving guests the opportunity to enjoy the wonders of underwater activities during the summer season.
Information disclosed in the official La Manga blog this week revealed that the team will be running a number of special offers to attract would-be divers in the two-month period to June, including a 'buy one, get another half price' deal on courses for beginners.
Free t-shirts will also be given out to those booking the Open Water course and the children's Bubblemakers course is to be made available with a ten per cent discount.
"If you're not already a scuba diver then 2010 is the year for you to learn .
Holidays in Spain continue to be the most popular trips in Europe among travellers from some of the continent's biggest nations, new figures have shown.
According to a report conducted by GFK Travel Insights, for British, Dutch and German holidaymakers, the country remains number one in terms of sales-based market share for this summer, ahead of one of the biggest growers in Turkey.
The research follows statistics from Skyscanner in January, which revealed five of the top ten most searched for destinations from UK airports for 2010 were in Spain - along with a further six in the top 50 - and the global sales director of Cheapflights.co.


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TJA Health, LLC (TJA) is pleased to announce the addition of a new product to its global product offering. Hydrasmile, a dry-mouth ultra-hydrating spray, which aims to serve the tens of millions of people around the globe who suffer from the debilitating symptoms of dry mouth caused by cancer treatment, various medications, or the multitude of other sources of xerostomia.
“Hydrasmile contains the newest state-of-the-art ingredients to combat extreme dry mouth,” says Dr. Lawrence Hier, Founder and President of TJA Health, LLC. “The dry-mouth community has been underserved for years by products that have poor taste, lack efficacy, or both. Our goal with Hydrasmile is singular: to provide a solution rooted in optimizing survivorship”.
Over the last 36 months, TJA distributed Hydrasmile to many leading cancer treatment centers around the globe. The response to the product has been positive and consistent.
One clinic remarked, “…Dr. Jensen found your product at the PNDC this past summer and loved the slim design and taste of the spray, but as good consumers, we ordered 18 samples from 18 companies to test for our office as we want to carry products in our office permanently. All this to say, your product is the top dog, #1, the BEST product our patients and we tested. The design, the taste, and the benefits will keep us returning to order more!”
Hydrasmile is available now.
For more details, contact Ian Miller via phone at (877) 677-5277 or via email at firstname.lastname@example.org.


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HIGH POINT – Spot rates for 40-foot containers continued their dramatic rise since April into December.
According to the World Container Index from shipping analytics firm Drewry, that rate climbed to $3,435.57 as of Dec. 3, a 12.3% jump increase from early October.
After declining January through March to around $1,500, the 40-foot spot rate reached $2,000 in August and surpassed $2,500 in September.
Ocean-shipping spot rates typically fall off after the fall peak season, but with all consumer goods sectors playing catch up, those rates will likely stay higher than usual into the New Year.
The World Container Index assessed by Drewry is a composite of container freight rates on eight major routes to and from the United States, Europe and Asia.


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The Internet of Things — the network of internet-connected devices that might include your alarm clock, thermostat, and refrigerator– is growing, and that carries important implications for fintech and beyond. On Twitter, the hashtag #IoT has reached over 3.3 million users in the past several hours, with around 387 retweets and counting, whichRead More
Post Tagged with: "wearables"
It seems bankers like watches. Today brought news of two more banks announcing the development of Apple Watch apps: DAB Bank in Germany, and BankMobile, a mobile offering from Customers Bank in Pennsylvania. Speaking purely anecdotally (though we are working on the hard numbers) it appears clear that more banksRead More
The Consumer Electronics Show (CES) 2015, which officially begins tomorrow in Las Vegas, is the country’s premier event for introducing high-tech gadgets. This year will see a plethora of wearable technology, supposedly capable of measuring everything from the wearer’s mood to turning his thoughts into speech. The buzzy-est item so far appears toRead More
New standalone applications for Google’s Android Wear — — the company’s smartwatch operating system — are starting to hit Google Play store.
But not from Google Wallet.
Three important smartwatch launches over the last week or so appear to have changed the dynamic for wearable payments.
Loyal readers of this blog will know that Bank Innovation maintains strong views on the future of banking. From apps to wearables, we’ve got passionate opinions on which direction financial services is — and should be — heading. Join us for this webinar where we will share our latest thinkingRead More
Westpac New Zealand, a bank with a passion for wearables, is currently testing a version of its Cash Tank balance-checking app on Google Glass. (Bank Innovation reviewed the Cash Tank smartwatch app here.) The forward-looking bank is also working on iBeacon solutions for the retail shopping experience. Wearables received starRead More
Apple’s iPhones get the oohs and ahs, but it’s Samsung’s name on 3 out of 10 smartphones around the world — and that share continues to grow. Samsung has a smartwatch that already has banking apps (and PayPal) running on it, and the company will bring its Galaxy Smart GlassesRead More
There has been speculation for some time about the form a Google Glass banking app would take. The suspense is over. Spain’s Banco Sabadell has created a banking app for Google Glass that displays the nearest ATM, allows the viewing of accounts and supports 24/7 video conferencing. Sabadell isn’t just tiltingRead More


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LMS Capital believe that CopperEye technology addresses one of the most fundamental challenges faced by today’s software vendors and enterprises
17 September 2003 -- Bath, UK -- CopperEye today announced that it has secured third round equity funding of £2 million (GBP) from one of its existing investors, LMS Capital. CopperEye will use the funds for ongoing development of its business and to support its entry into the US marketplace. Previous rounds of funding have been used to develop and demonstrate the value of the company’s revolutionary data indexing technology. Called Adaptive Addressing, CopperEye’s technology delivers a dramatic increase in performance in data intensive solutions of up to 100* times.
As a result of this investment, CopperEye has a new Chairman; Richard Joyce joins CopperEye’s Board of Directors with immediate effect. Joyce brings a wealth of experience; he has had a long career at 3com where he held a number of positions culminating in Senior Vice President Worldwide Sales. Joyce is also non-executive Chairman of Wireless Information Network Ltd.
Joyce said: “I am delighted to have joined CopperEye at this time. CopperEye is an exciting company that is poised on the edge of real success. With its innovative technology and plans to grow rapidly through entry into the US market, it’s certainly a company to watch”
Nick Habgood, who led the investment on behalf of LMS Capital, and is a current member of CopperEye’s Board of Directors, said: "We are delighted to further our investment and involvement with CopperEye. The Adaptive Addressing technology has been shown to deliver such fundamental and quantifiable benefits in a range of data management applications at a time when the amounts of information that enterprises have to deal with is growing exponentially.” He added: “Already we’re seeing leading companies – Orange being one of the most recent - turning to CopperEye’s innovative new indexing technology to greatly increase the performance of their data management applications. Also, among the benefits these companies are citing are vastly improved operational performance, speed of response to the marketplace and enhanced customer service.”
“CopperEye is one of the very few early-stage companies in the UK IT marketplace that is still able to attract new rounds of funding, “ said Paul McCafferty, founder and Chief Operating Officer of CopperEye. “This additional investment is a testament to our current success, our people, products and vision of the future.”
McCafferty continued: “It is imperative that we continue to grow in line with our business plan. To achieve this, we intend to build a heavyweight presence in the US - to strategically position us to grow revenues and market awareness rapidly. Being in one of the main software development centres in the world is very important to our future. With this strategy, we fully anticipate further rapid growth and profitability.” He concluded.
- ends -
For further information contact:
Susan Morgan Fiona Moon
Press Office Marketing Director
Tel: 01225 745493 Tel: 01225 745492
Email: firstname.lastname@example.org email: Fiona.email@example.com
About LMS Capital
LMS Capital is the venture capital division of London Merchant Securities plc (LMS) a public FTSE 250 company listed on the London Stock Exchange.
CopperEye Ltd is an international developer and supplier of revolutionary technology that significantly accelerates operations within new and existing data management systems. The company has invented and patented a totally new type of data indexing technology called Adaptive Addressing. It offers an innovative technical solution that has a substantial positive impact on business competitiveness and operational database performance.
Custom Indexing is the Adaptive Addressing product for Java, C and C++. The product is a full set of APIs that enable application developers to easily create new custom solutions. These resultant applications can achieve increases in performance of up to 100* times. By dramatically improving database performance, the solutions provide increased availability of information, unprecedented speed and business efficiency, as well as significant cost benefits.
CopperEye is headquartered in Bath, UK. For further information visit: www.coppereye.com
*in test environments within CopperEye.
Copyright (c) 2003 CopperEye Ltd. CopperEye and Adaptive Addressing are registered trademarks of CopperEye Ltd. All other brand and product names are trademarks of their respective owners.
This press release was distributed by ResponseSource Press Release Wire on behalf of CopperEye in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.


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We're still unwrapping all of the subtle software changes in store on the Galaxy S7 and S7 edge, but one extremely useful — albeit subtle — feature addition is the integration of the Whitepages database into the stock dialer app.
This deep integration into the dialer will automatically identify incoming calls that aren't associated with any of your contacts, attempting to give you information on the caller before you choose to pick up or ignore the call. Leveraging Whitepages' huge database, the dialer will also warn you when an incoming call is from a known spam or scam number, saving you from picking up a potentially unwanted call.
The spam and scam detection system will improve over time as well, as you'll have an opportunity to manually flag fraudulent calls directly through the dialer if you encounter them. Whitepages boasts that its database has over 600 million active phone numbers in the U.S. and a total of 1.5 billion globally, meaning there's a good chance that the next "unknown" caller you have may actually turn into a known person or business before you even answer.
If this sounds familiar, it's likely because Google, Cyanogen and others have integrated similar features into their stock dialer apps. The Whitepages database will be available to Galaxy S7 and S7 edge users in 16 countries across North and South America, Europe, Asia and the Middle East.
Whitepages Partners with Samsung to Bring its Leading Caller Identification and Spam Detection Service to the Galaxy S7
Mobile Data Leader Expands Globally Across Five Continents
SEATTLE and BARCELONA--(February 21, 2016) —Whitepages, the leading source for caller identification and phone spam detection services in North America, today announced a partnership with Samsung that will provide Galaxy S7 users with a seamless experience that helps to identify unknown callers and also protects them against the increased threat of phone spam and scams. The new service will be available for Galaxy S7 users in 16 countries across North America, South America, Europe, Asia and the Middle East, providing an overall better phone experience that includes:
- Caller Identification: By leveraging Whitepages that includes more than 600 million active mobile and landline phone numbers in the US and over 1.5 billion unique numbers globally, users will be able to make informed decisions about whether or not to answer an incoming call.
- Spam and Scam Detection: With Whitepages' state of the art phone reputation service, users will have much needed context for unsolicited spam and scam calls, giving them peace of mind when answering or ignoring a call. It also includes a spam button for users to easily report spam numbers which will in turn, help other users from falling victim to fraudulent calls.
- Nearby Business Search: Powered by a global database of local business information, users will be able to search directly within the native dialer to easily find nearby businesses for any and all of life's purchases and curiosities.
With this partnership, Samsung will provide a better phone experience that not only identifies unknown calls and, but protects Galaxy S7 users from phone spam and scams. The issue of caller identification has come to the fore in recent years as phone scam and text spam has significantly increased due to a lack of filtering at the carrier level and a rise in automated VoiP /OTT platforms that have driven the cost of communication down to fractions of a cent. Of the 300 MM incoming calls that Whitepages scans per month in the US, more than 15 MM are classified as "unwanted". In addition, in December, Whitepages released its annual "State of the Unwanted Call" report which revealed a 35 percent growth in spam and scam calls in 2015, as compared to 2014.
"We are pleased to work with Samsung on one of the great issues currently impacting mobile users worldwide," said Alex Algard, Founder and CEO of Whitepages. "Ensuring phone safety through user-friendly services is what we do at Whitepages. We are happy to have worked with Samsung on the Galaxy S7 to provide their users with the greatest phone experience possible and further grow our footprint in the international arena."
With this partnership, Samsung joins the ranks of T-Mobile which announced a partnership with Whitepages last year to bring the company's caller identification and spam/scam protection app, Name ID, to T-Mobile phones. These partnerships with world class handset manufacturers and telecommunications companies are further affirmation that Whitepages is the vanguard of scam detection technologies and is the first line of defense for consumers' mobile phones.
The new Whitepages caller identification and spam and scam detection features will be available when the Galaxy S7 launches in Australia, Brazil, Canada, France, Germany, Hong Kong, Israel, Italy, Mexico, Philippines, Singapore, Spain, Sweden, Turkey, the United Kingdom, and the United States, with additional countries to come.
The Samsung partnership adds to Whitepages' suite of Caller Identification apps from its Whitepages Caller ID for Android to its Caller ID for iPhone to its recent revamp of its Mr. Number app.
Whitepages is the leading source for caller identification and phone spam detection in North America. With a database of more than 600 million mobile and landline phone numbers in the US, and over 1.5 billion unique numbers in its global database, Whitepages leverages its extensive data insights to identify unknown calls and texts and to monitor phone-based threats for consumers and businesses. Whitepages scans more than 300 MM incoming calls per month, and has detected more than one billion robo, telemarketing and scam calls and texts to date.


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The U.S. Justice Department is turning up the heat on General Motors, launching its own preliminary investigation into how and why the automaker delayed action involving faulty ignition switches catching blame for at least 13 deaths and 31 crashes.
The investigation will probe whether the GM might have violated criminal or civil laws requiring automotive manufacturers to advise federal regulators about potential safety problems in a timely manner. A timeline supplied by the Detroit maker last month indicates it first became aware of the problem as much as a decade ago.
The problem centers around an ignition switch widely used in a variety of compact GM models between 2003 and 2007. It appears that when the vehicle is jounced around on a rough road, or if a motorist uses a heavy key ring, the switch can inadvertently turn from the On position to Off or ACC. In such a situation, a vehicle’s engine can stall and its airbags can be deactivated.
But while GM apparently advised its dealers of the issue as early as 2005, and it appears to have bought back more than a dozen cars from owners who complained about the problem, it did not order a recall until last month. On February 13, the maker issued a callback for 778,562 Chevrolet Cobalts and Pontiac G5 models sold during the 2005 to 2007 model-years.
Facing criticism from safety advocates who noted the same switches were used in other products, GM ordered an expanded recall two weeks later to cover models including 2003-2007 Saturn Ions, 2006-2007 Chevrolet HHRs, and 2006-2007 Pontiac Solstice and Saturn Sky models. In all, a total of 1.6 million vehicles are now impacted, including 1,367,146 sold in the United States.
A call to the Justice Department has not yet been returned but several wire reports indicate the investigation is being led by the U.S. Attorney’s office in the Southern District of New York.
Asked for comment on the investigation, GM spokesman Alan Adler said through an e-mail, “There is no comment from Department of Justice in the wire stories and therefore we do not have one either.”
It is one of several inquiries now underway. Separate investigations have been launched by House and Senate Committees, the House Energy and Commerce Committee on Monday advising both GM and the National Highway Traffic Safety Administration that it wants documents relating to the switch problem and subsequent recall within two weeks.
The order covers “a detailed timeline of interactions and communications between GM and NHTSA related to stalls, air bags and/or ignition switches in the GM vehicles subject to recall.” And, in a notable exception to the partisan politics dividing Washington, both Republican and Democratic members of the committee have expressed their concerns.
(For more on the House and Senate investigations, Click Here.)
NHTSA is also coming under fire for failing to step in earlier to force a recall for the switch problem but it remains unclear precisely how much information GM had provided the safety agency.
The long delay in responding to the ignition switch problem has perplexed those who had expected such problems to be addressed by the so-called TREAD Act passed in 2000. Short for the Transportation Recall Enhancement, Accountability and Documentation Act, it was enacted in the wake of problems involving the Ford Explorer and Bridgestone tires that were linked to 270 deaths.
NHTSA, meanwhile, has launched its own investigation of the recall and has demanded answers to a list of 107 questions.
In what could be her first serious test since becoming GM’s first female CEO, Mary Barra has announced she will oversee the maker’s internal investigation of the switch problem and belated recall. It has hired two major law firms to assist in the process, including Chicago-based Jenner & Block, whose chairman, Anton “Tony” Valukas, is a former U.S. attorney who oversaw the investigation of the 2008 collapse of Lehman Brothers.
(Click Herefor more on the internal GM investigation.)
It remains to be seen what the Justice Department is looking for and what sort of laws it believes might have been broken. NHTSA, meanwhile, could fine GM as much as $35 million and seek criminal charges if it decides the maker didn’t recall the affected vehicles when it new they were defective. The fine, if levied, would be the highest ever for an automaker.
GM has already settled a number of lawsuits related to the defective switches but, ironically, the company’s 2009 bankruptcy might shield the maker from some of the costs it could otherwise face. After emerging from Chapter 11, the company left most of its debts and liabilities with the “old” GM. Lawsuits related to those who were injured or killed prior to July 2009 would have to sue the old entity, rather than the “new” GM, in bankruptcy court.
(Click Here to find out how bankruptcy might help GM…again.)


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The International Federation of the Phonographic Industry has released its full-year 2022 report. The research is headlined with one key metric: The global recorded music market grew by 9.0% in 2022, driven by growth in paid subscription streaming.
The report comes days after the RIAA (Recording Industry Association of America) divulged its 2022 numbers, likewise emphasizing paid music subscription leading overall growth. (RAIN coverage HERE.) Both organizations track recorded music income exclusively.
The IFPI says that total global music revenue added up to $26.2-billion. This compares with U.S. revenue from recordings at $15.8-billion.
Key global streaming metrics from IFPI:
- Subscription streaming income rose 10.3% year-over-year, to $12.7-billion.
- Total paid subscription users globally: 589-million.
- Total streaming (paid plus ad-supported) grew 11.5% in the year, delivering $1.5-billion.
- Total streaming revenue totals 67% of total recorded music revenue. (In the U.S., according to RIAA, that portion of total revenue is 84%.)
- China’s recorded music revenue grew 28% year-over-year, becoming a top-five market for the first time.
- Latin America grew 26%, and has experienced steady growth for “more than 10 years.”


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Original Story (03/27/22): 2022 is a crazy year for OG Jordan releases. The “Chicago” Air Jordan 1s are making their return (at least in some sort of “Reimagined” form), as well as the “Fire Red” Air Jordan 3s. The Air Jordan 2, which is having a big year all on its own with various collaborative iterations, is also set to return in true OG form.
Dropping in the OG white, red, and black “Chicago” colorway, the 2022 version of the Air Jordan 2 is expected to closely resemble the original 1986 release, down to the packaging and accessories. Expect these to come in the original Wings logo box, equipped with a Wings logo hangtag and packaged with an OG-style booklet.
The Air Jordan 2 OG “Chicago” is currently expected to drop on October 22nd on SNKRS and at select retailers. Stay tuned to Modern Notoriety for updates.
Air Jordan 2 OG “Chicago”
Color: White/Varsity Red-Black
Style Code: DX2454-106
Release Date: December 30, 2022
Price: $200 USD
Update (09/02/22): Check out in-hand shots of the 2022 Air Jordan 2 “Chicago” below, complete with OG packaging, hangtag, and booklet. Photos via scollard23:
Update (08/12/22): Check out on-feet photos of the 2022 Air Jordan 2 “Chicago” below, courtesy of Yankee Kicks. These are now slated to drop on December 30th.
Update (07/15/22): Grab a first look at the 2022 Air Jordan 2 “Chicago” below, courtesy of solesbyzay_backup:
OG 1986 release, photo via bigbostrong:


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|20-10-2012, 02:27 PM||#1|
Join Date: May 19 2008
[Techreport.com] New Samsung Chromebook costs $249, has ARM inside
The Samsung Chromebook 550 Chromebook that came out in May is a nice little machine, but at $449.99, it isn't exactly cheap. Google and Samsung have now taken the wraps off a new, cheaper Chromebook that starts at a much more tantalizing $249.99—and it's already listed at Newegg.
|$249, arm, chromebook, costs, inside, samsung, techreportcom|
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Latest News on Ultrabook
Showing of 0 - 10 from 206 results
Ultrabook - Total results - 206
Nov 23, 2016
ASUS 'Zenbook 3' will start selling from November 27 starting at Rs 1,13,990ASUS has announced the launch of the flagship ultrabook 'Zenbook 3' in India starting today. The company detailed that the flagship Ultrabook will go on sale starting November 27, 2016.
Nov 23, 2016
Asus ZenBook 3 review: Outperforms the MacBook; but Dell XPS 13 could be a stiff competitorThe Zenbook series has been at the premium edge of the Asus laptops product portfolio, concentrating on generally making slim ultrabooks. This segment is in its fifth generation this year and we have the Zenbook 3 headlining the series. So let us have a look at this slim ultrabook and see if it indeed makes for a MacBook replacement.
Oct 13, 2016
HP Spectre x360 vs Dell XPS 13: On paper, the Spectre is now the ultrabook to beatWhich ultrabook do you go for? A few years ago, the cho ice was blindingly obvious: You buy a MacBook Air. Today, the market is chock full of laptops claiming to be ultrabooks. These include offerings from Lenovo, Dell, HP, Acer and more.
Aug 23, 2016
Acer Aspire S13 review: This might just be the best Windows-based Ultrabook in its price rangeAcer’s Aspire S13 is slim, light, well-built and more powerful than the Air; it’s also more expensive. It does seem like a great device, but is it worth it?
Apr 08, 2016
HP's slimmest laptop the Spectre 13, coming to India by mid-JuneGlobal printing and personal computer major HP Inc on Thursday launched world's thinnest HP Spectre 13 laptop - weighing 1.1 kg and as thin as an AAA-battery at just 10.4 mm with sixth generation Intel Core i5 and i7 processors.
Dec 02, 2015
Apple Macbook Air revamp will see 15 inch displays, better battery life, improved cooling and moreThe Apple MacBook Air lineup has not seen a major redesign since its launch back in 2010 but currently stands tall, even with its old design as it is still a great ultraportable offering.
Jun 25, 2015
Lenovo Yoga 3 Pro review: A visual stunner, but for Rs 1,14,990 battery and performance not upto markThe Yoga series is in its third generation this time around and the Lenovo Yoga 3 Pro is the flagship multi-mode ultrabook in the series.
Dec 29, 2014
Tablets and Ultrabooks become 30% more affordable in emerging markets: ABI ResearchThe Average Selling Price (ASP) of Ultrabooks and tablets declined by 7.8% in 2014, as the market matured and commoditised, allowing these devices to become more affordable in all markets
Jan 31, 2014
Sony VAIO Fit 13A: Costs a pretty penny for a novelty featureArray
Jan 12, 2014
Lenovo launches 'world's thinnest 14-inch ultrabook' ThinkPad X1 CarbonLenovo showed off the new and updated version of the ThinkPad X1 Carbon at the ongoing CES festival in Las Vegas.


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Game streaming services like Project xCloud violate App Store policies, says Apple
Even Google Stadia and Nvidia GeForce Now are not available on the iPhone and iPad because of these policies.
August 08, 2020 / 05:00 PM IST
Samsung recently unveiled its flagship Note 20 duo this week. One of the big announcements during the Unpacked event was Samsung’s partnership with Microsoft, which includes special enhancements for the xCloud game streaming service on the Galaxy Note 20 Duo.
Customers who pre-order the Galaxy Note 20 or Galaxy Note 20 Ultra will get a three-month pass. However, xCloud’s beta test on iOS ended early, before the launch of the service on September 15. This is due to Apple App Store policies. Even Google Stadia and Nvidia GeForce Now are not available on the iPhone and iPad because of these policies.
In a statement to Business Insider, Apple said, “The App Store was created to be a safe and trusted place for customers to discover and download apps, and a great business opportunity for all developers. Before they go on our store, all apps are reviewed against the same set of guidelines that are intended to protect customers and provide a fair and level playing field to developers.”
The best part about game streaming services like Project xCloud is that users do not require an expensive gaming PC or Xbox console to play titles. You can simply use a browser or phone to stream games directly from the cloud. However, at the moment, it does not look like Apple users will be able to reap the benefits of cloud game streaming.
Project xCloud is launching with the Xbox Game Pass Ultimate this September for USD 15 per month. This will give you access to a library of over 100 titles, including first-party and third-party games.Also Read: Samsung Galaxy Note 20 vs Galaxy Note 20 Ultra 5G: Are the differences worth the extra price?


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World of Beer will be opening its second Jacksonville area location, this one at the Beaches, later this year. It's going into the space formerly occupied by Yogaberry and Mambo's at 311 Third St. N.
The area's first World of Beer opened just over a year ago in the Tinseltown area.
Franchise co-owner Wayne Farmer said the Beaches location will be a little larger (4,000 square feet versus 3,200) and have liquor, which Tinseltown does not.
It will have 50 to 60 draft beer taps and 500 beers in bottles and cans.
When WOB started seven years ago in Tampa, few of its locations had food and it was common for customers to bring food in from elsewhere. All new locations will have a full menu, Farmer said, but food from elsewhere is allowed because that had become a tradition in the Tampa area.
The chain now has 58 locations in 17 states and has sold a couple hundred more franchises, according to its website.
Farmer and his partner, Frank Hudson, have the rights to the Jacksonville area. He said they will definitely open at least one more, though they don't know where.
They're opening one in Chattanooga, Tenn., Labor Day weekend, he said.
The Beaches location will employ about 45 people, most part time, he said, with hiring starting about 60 days before opening.
It's right across Third Street from Green Room Brewing, one of the area's local brewers.
Mark Stillman, co-owner of Green Room, said he's optimistic about the new neighbor.
"They do have more recognition and broader reach than us," he said. "And they're selling our beer. Maybe someone will be there and look across the street. Hopefully, we'll have some customer sharing.
"And, really, anything is better than a boarded-up, empty space."
Roger Bull: (904) 359-4296


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Debuts first pro team gear at NYC event.
By Thomas J. Ryan
Ramping up its push into soccer, Under Armour last week unveiled its first match kits under its new multi-year partnership with the New York Cosmos, the reigning champions of the North American Soccer League (NASL).
The Cosmos are the first professional soccer team sponsorship in the U.S. for Under Armour, which replaced Nike.
The Cosmos captured their second league title in three seasons and seventh overall in its history. Legends who have played for the club in its heyday in the seventies include Pelé, Franz Beckenbauer, Giorgio Chinaglia and Carlos Alberto as well as Raúl and Marcos Senna, legends at famed Spanish sides Real Madrid and Villarreal CF, in recent years.
“It’s one of the most iconic U.S. soccer teams that there is,” said Peter Murray, vice president, global brand and sports marketing, during the event at Under Armour’s Brand House in New York City. Under Armour brought out all the club’s players as part of the team’s annual media day, which SGB attended. “It’s got a great history and legacy and they’re the reigning champion!”
Murray also said the partnership underscores Under Armour’s commitment to expanding the sport of soccer. The brand will work with the club’s Academy Affiliates Program, which partners with 19 youth soccer clubs in the New York metropolitan area. The Cosmos have also recently received academy status, and Under Armour will work with the Cosmos as they continue to build youth development programming in the New York/New Jersey metropolitan area.
“Under Armour’s brand history is to make athletes better and we’re committed and passionate about growing the next generation of soccer fans around the world,” Murray said.
Cosmos COO Erik Stover noted that he first saw Under Armour create a “whole new category” in its early days and how that as a sports fan he noticed they eventually started “to show up at strange places,” citing the golf course and basketball courts.
“Now over the last five to 10 years, it’s really just exploded,’ said Stover of the brand. “And knowing that they’re now turning their attention to soccer in the U.S. and for us to be on front end of that with them is just a tremendous opportunity for us.”
As far as changes, Stover said fans should expect to see better distribution and in-store presentation, more unique designs and limited-edition series, and additional sideline gear, such as track jackets.
Shawn Flynn, Under Armour’s director of global football, told SGB that the Cosmos partnership represents a further amplification of Under Armour’s push into soccer while noting that the brand already has a strong foothold in the sport.
For eight years, Under Armour has been outfitting youth soccer programs in the U.S. with over 100,000 kids wearing its gear. Its first soccer cleat arrived five years ago.
Professionally, Under Armour outfits world-renowned soccer clubs such as Tottenham Hotspur F.C., São Paulo FC, Colo-Colo and Cruz Azul as well as players like Memphis Depay of Manchester United, Granit Xhaka of Borussia Mönchengladbach, and 2015 FIFA Women’s World Cup winners Lauren Holiday and Kelley O’Hara.
In fall 2015, Under Armour launched its first soccer campaign, “Slay Your Next Giant.” In early March of this year, Under Armour signed on as the Official Match Ball Partner of the NASL.
Flynn said the Cosmos partnership would help Under Armour reach women athletes. He added, “ We had two players on the U.S. women’s soccer team last year and if you look at all club programs, its 50/50 boys and girls. So we continue to do that. But when you gain a partnership with an iconic team like the Cosmos, you have a lot of ways to take advantage of it.”
“I think it was important for them to have a team in the U.S. being a U.S. company,” Hunter Freeman, a defender on the team, told SGB. “But to do it with the most iconic soccer team in the U.S. with the Cosmos a win-win for both.”
While noting that he was largely introduced to Under Armour through its hunting apparel while growing up in Texas, Freeman feels Under Armour’s push into soccer is a natural evolution as it has found quick success in other sports.
“I almost look at Under Armour like Nike was 10 or 15 years ago when they were starting to get into soccer and people were kind of saying, ‘What are they doing?’ with Adidas and Puma everywhere. But now look where they are. So I think in five or 10 years you’ll see Under Armour in the same spot.”
The partnership includes competition, training, sideline, and travel gear and apparel. The team will debut the white uniform at their season opener at Hofstra Stadium on April 3 against Ottawa Fury FC.
Photo courtesy Under Armour


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Photo for illustration (Source: plo.vn)
The “Da Nang Thank You 2020” programme will last from May to December with attractive products and services. More than 150 local travel companies have joined the programme so far.
Under the programme, maritime tourism services will be discounted from July 17th to 31st and shopping and entertainment services, from November 23rd to December 6th. Besides, Da Nang Fantastic Week will run from December 22nd-28th with special activities and events to mark Christmas and New Year holidays.
Apart from free tickets to famous tourist destinations like Ngu Hanh Son and museums from June 1st to August 31st, there will be discounted tour packages to be offered by eight prestigious firms.
Initially worth 3.85 billion VND (165,500 USD) raised by individuals and organisations in the city, the Da Nang Tourism Promotion Fund is set to connect the business community and create more resources for tourism promotion, especially amidst COVID-19.
The central coastal city aims to serve 9.8 million tourists in 2020, a year-on-year rise of 12.74 percent, according to the municipal Department of Tourism.
The number of international visitors is expected to increase by 13-15 percent year-on-year.
The city is building a night economic development plan in the field of tourism to realise the 2020 target.
In 2019, Da Nang welcomed 8.69 million holidaymakers, including nearly 3.5 million foreigners, up 30.7 percent from the previous year./.


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Homebase owner sees profits slump 87% after UK hit
Wesfarmers confirmed a hit of £524 million on its Homebase division and saw UK and Ireland losses more than treble.
The Australian owner of struggling DIY chain Homebase has revealed woes at its UK business left half-year profits crashing 87%.
Bunnings group Wesfarmers, which bought Homebase in 2016, confirmed a hit of 931 million Australian dollars (£524 million) on its UK and Ireland arm as it saw losses more than treble in the division.
It blamed the “rapid repositioning” of Homebase and difficult trading in the UK for an increase in underlying pre-tax interim losses in the UK business to £97 million from losses of £28 million a year earlier.
The writedown and UK losses left Wesfarmers’ nursing an overall plunge in group profits to 212 million Australian dollars (£119 million) for the six months to December 31 from 1.6 billion Australian dollars (£901 million) a year earlier.
The loss for the half reflected continued trading and execution challenges as a result of the rapid repositioning of Homebase following the acquisition Rob Scott, Wesfarmers managing director
Wesfarmers dealt a blow to staff earlier this month when it put nearly 2,000 Homebase jobs at risk and warned up to 40 stores could shut as part of a review of the business.
The group is rebranding Homebase as Bunnings – a well-known brand in Australia – but the £340 million takeover and overhaul in the UK is so far proving ill-fated, given the differences in the two markets and tough retail trading conditions in Britain.
Wesfarmers reported a 15.5% tumble in revenues to £517 million in the UK and Ireland business and confirmed that five loss-making Homebase branches were closed in its first half.
But it said it was working hard to improve UK trading and will update on its review of Homebase in June.
Wesfarmers managing director Rob Scott said: “The loss for the half reflected continued trading and execution challenges as a result of the rapid repositioning of Homebase following the acquisition.
“The management team has been strengthened and a review is underway to identify the actions required to improve shareholder returns.”
Homebase operates from 250 stores and employs 12,000 people in total in the UK.


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adidas NMD S1 “Triple Black” is Coming Soon
First making its way to shelves back in 2015, the adidas NMD was welcomed with an unpredictable surge of hype, due in part to its insane level of comfort, its versatility, its Instagram post-worthiness, and — of course — Kanye West and his timely shift to adidas. Over the past six years, we’ve seen the silhouette go through a handful of remakes, from Pharrell’s collaborative NMD Hu to the newly-revealed R1 V3. Though none have quite tipped the scales like the OG or the Hu, the Three Stripe’s new adidas NMD S1 has been the line’s most impactful model in recent times.
For its next, the silhouette goes back to basics, delivering a timeless “Triple Black” rendering to where everywhere, from the mall to the gym to the bleachers.
Though we’ve come across the official images of the adidas NMD S1 “Triple Black,” a release date for the pair is yet to be set. So while we await further details, grab a detailed look at the pair here below, and be sure to keep your eyes glued to our official Twitter account for further updates on its release.
adidas NMD S1 “Triple Black”
Release Date: 2023
Style Code: FZ6381
Color: Core Black/Grey Four-Cloud White
Retail: $180 USD


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Buying A Used 2000-2006 Honda Insight Hybrid: The Guide
Green Car Reports
MARCH 20, 2014
If you''ve been reading Green Car Reports over the past week, you might have seen we recently bought a 2001 Honda Insight--an example of one of the first hybrids sold by a major automaker. But what if you want to buy your own early Insight?


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Grimsby Garden Centre has become North East Lincolnshire’s first independent business to team up with food app with a conscience Too Good To Go after reopening its café this month.
Helping to prevent surplus food from going to waste, the new partnership means food that hasn’t sold will be available to Too Good To Go users to rescue.
Every year, the hospitality industry wastes more than one million tonnes of surplus food. Too Good To Go lets people buy surplus food from restaurants, cafes, retailers and producers to stop it going to waste simply by downloading the app and searching for nearby businesses with unsold food.
Users can purchase ‘magic bags’ via the app to collect and enjoy at an allotted time but don’t know what is inside the bag until they pick it up.
Owned by leading NHS mental health services provider NAViGO, Grimsby Garden Centre knows first hand how good food and good drink can do good, with all their profits going back into the upkeep of the centre and local services.
NAViGO head of commercial services Jo Keen says: “We’re really focussed on ensuring that no edible food goes to waste. Too Good To Go makes it easily available to local people at a reduced price. Not only is that better for the environment but it also means more people get to enjoy food that may otherwise have been thrown away.”
Grimsby Garden Centre is currently undergoing a major redevelopment which has seen its café reopen as The Potting Shed, doubling in size and introducing outdoor wooden booths and a garden.
Future phases will see the introduction of an eco-friendly green barn and an independent shopping village made from repurposed shipping containers.
Jo continues: “As you’d expect from a garden centre, we’ve got a genuine focus on improving our environmental impact. Our transformation plans will see the introduction of eco-friendly buildings, we’re introducing electric car charging points, and we’re supporting the new generation of gardeners through our Grow With Us schools project.”
As well as being the first independent eatery to sign up to the app in North East Lincolnshire, the Potting Shed offers 10% to all NHS, armed forces, emergency services and North East Lincolnshire Council employees as well as a free drink to the local lifeboat crew who have been out on a shout.


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Fashion for Good is pleased to announce seven new innovators selected to participate in its 2022 Asia Innovation Programme. Chosen by Fashion for Good brand and manufacturing partners during a hybrid digital/in-person event in Mumbai from a group of innovators, the nine-month programme provides the participants with tailored support to help them scale – matching the innovators with relevant industry partners to drive piloting, implementation, and investing activities.
The selected innovators joining the Fashion for Good 2022 Asia Innovation Programme are: Picvisa, Gaiacel, AN Herbals, Fermentech Labs, Sodhani Biotech, Vaayu and UKHI Hemp Foundation
“We are extremely excited to kick off our third year in Asia and continue to generate tangible impact in the region with the addition of these seven new innovations. By providing them with a platform to learn and grow, and connecting them with leading industry players, the programme offers an opportunity to drive the implementation of their solutions in the supply chain at scale.” – Priyanka Khanna, Head of Asia Expansion at Fashion for Good.
Focusing on processing, one of the most impactful steps in the value chain, this year’s selection of innovators are developing technologies with the potential for positive disruption within this area in the Asia region. Innovators AN Herbals, Fermentech Labs, Gaiacel and Sodhani Biotech, are developing unique solutions in dyeing, pretreatment and finishing from plant, forest and agricultural waste using technologies such as bioprocessing, nanocellulose and microorganisms. The remaining innovators present pioneering innovations in raw materials, impact and end-of-use, with UKHI Hemp Foundation exploring alternative materials from hemp, Vaayu tracking carbon impact through the value chain, and Picvisa enabling the recapture of value from existing materials.
As with previous selections, these innovators receive bespoke support based on the immediate requirement of each innovator to scale, as well as exposure to corporate partners and industry ecosystem players vital to their continued growth and development. The seven new innovators mark the fourth selection of innovators to participate in the Asia Innovation Programme since establishing a presence in Asia in 2020, which has supported a total of 28 innovators through the Programme.


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The World Poker Tour (WPT) has announced that it will utilise the cloud-native Ateliere Connect platform from Atelier Creative Technologies to transform its media supply chain.
WPT high-stakes poker tournaments are currently being shown across more than 150 countries thanks to a significant presence across television and online platforms like ClubWPT.com and WPTGlobal.com, as well as mobile apps like WatchWPT.
With Ateliere Connect on board, WPT can now leverage a combination of media processing technology and artificial intelligence to efficiently organise and manage its media inventory.
Ateliere provides machine learning algorithms for accurate identification to lessen the need for manual version control and compliance checks.
Loc Sondheim, WPT Head of Distribution, commented: “Our goal has always been to bring the excitement of the game to audiences everywhere. As our product offering and geographic reach expanded, we found our current media infrastructure limiting.”
WPT Director of Content Operations & Post Production, Ian Matteson, added: “Ateliere gave us media inventory management, version control, packaging and delivery capabilities neatly wrapped into one platform. The move eliminated the “versionitis” that was bloating our inventory and driving up operational costs.”
WPT’s business model features country-specific branding that requires multiple video versions due to different contractual obligations – something that Ateliere Connect will ensure is met as the partnership goes forward.
Kira Baca, CRO of Ateliere, said: “Ateliere’s platform is a perfect fit when it comes to the dynamic Sports/Gaming industry, providing visionary companies like World Poker Tour the means to transform their media supply chains fundamentally.
“By integrating the advanced capabilities of Ateliere’s AI technology and state-of-the-art tools, these entities not only realise an increase in revenue and a reduction in costs, they also secure a substantial strategic advantage in delivering products faster to market.
“The end game is the same for our customers – we are here to help them actualise the full potential of their content and propel their operational performance to new heights.”


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Coronavirus zonked recent production of electronics components as well as consumer gadgets and wearables, such as smart watches and earwear.
“We’re expecting some declines [in wearables] in the first quarter of 2020 due to supply constraints,” Jitesh Ubrani, research manager for mobile devices at IDC, told FierceElectronics.
“February was pretty much a wash in terms of production, and since then factories in China have been operating at very low capacity,” he added. “There are still labor shortages, and logistics still remains an issue. In China, as well as other markets such as Europe, demand will also be reduced since many consumers are staying at home.”
IDC is publishing a forecast for the first quarter soon, but declines are anticipated over the 118.9 million wearable devices shipped in the fourth quarter of 2019, which represented 82% growth over the fourth quarter of 2018.
More than half of the wearables shipped in fourth quarter 2019 were earworn devices, which IDC calls hearables, that focus on the audio experience, including rich quality audio and noise cancellation like the refreshed AirPods, called AirPods Pro from Apple. Hearables can also track health and fitness and provide language translation, as well as act as smart assistants.
Hearables benefited in 2019 from a number of new product introductions as well as more smartphones that cut the cord with traditional earphones, “practically driving users to purchase a hearable,” noted Ramon Llamas, research director for wearables at IDC.
Apple led the market in the fourth quarter for all wearables with 43 million devices shipped thanks to the AirPods and Apple Watch, as well as Beats products. Apple Watch shipments actually declined by 5% over the prior year due to supply shortages, IDC said.
Xiaomi ranked second with 12.8 million wearables, of which three-quarters were wristbands, IDC said. Samsung finished third with 10.5 millions shipped, followed by Huawei (9.3 million) and Fitbit (6 million).
For all of 2019, IDC said the same companies finished in the same order with Apple shipping 106 million wearables, followed by Xiaomi (41.7 million), Samsung (30.9 million), Huawei (28 million) and Fitbit (15.9 million). Year-over-year growth was 89% with 336 million devices shipped, compared with 178 million in 2018, IDC said.
Apple and Samsung captured a greater share of the market in 2019, Ubrani noted.


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FASTag, the electronic toll collection system, will be made mandatory for all toll paying vehicles in four months time, Road Transport and Highways Minister, Nitin Gadkari, said in the Lok Sabha on 16 July.
He also said that during the period, all toll collection centres, which account to over 500 in the country, will be converted to be able to accept FASTags.
"Within four months all our toll plazas will be converted to FASTags and not one person will halt at toll plazas. We have issued 58 lakh FASTags so far," Gadkari said in response to the issue of vehicles without such tags entering a dedicated 'tag-only' lane address at the Parliament.
"Within four months every person (with a vehicle) will have to purchase the FASTags sticker and this will be made mandatory. It is already present on new cars and those who do not have the sticker will not be able to get past the toll plaza," he further said.
The nearly 450 FASTags toll plazas in India which use Radio Frequency Identification (RFID) technology to make toll payments directly from the prepaid or savings account linked to it. These toll plazas are controlled by a mix of National Highway Authority of India (NHAI) and private concessionaires.
While the major highways that have dense traffic have these FASTags collection systems, vehicles get stuck in queues as commuters without the FASTags also enter these lanes, causing delays.


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28 April, 2017
An Apple Pay that works between users could be the jumpstart that the service needs.
If it happens this time, the new Apple product would compete with offerings from big USA banks as well as PayPal, its millennial-popular subsidiary Venmo, as well as Square Cash in the increasingly competitive world of digital money-transfers.
Much like Venmo and its competitors, Apple's new service would enable iPhone users to transfer money to each other quickly using their mobile phones.
Apple's also talked with Visa about creating prepaid debit cards tied to such a new service, Recode says - which could boost usage of Apple Pay that's been lighter than expected.
These services have typically been money losers for the new entrants in the space, but are seen as the gateway to the next generation of payment and personal finance services. The company reportedly registered $17.6 billion this past quarter. This way, Apple would hold an advantage over other peer-to-peer payment systems like Venmo which require you to wait for your cash.More news: Browns could flunk the draft by trading up for Mitchell Trubisky
Recode also reported that Apple is talking with Visa V about making its own pre-paid debit cards. Still, most analysts remain hopeful about the future of Apple Pay, particularly on the web and via apps, seeing as how the service eliminates the need for users to manually enter their shipping and payment information every single time they go to make a purchase.
It looks like Apple Pay is getting a major upgrade this year.
Apple Pay launched in October 2014 in an attempt to capture a chunk of that business. Several sources inside big USA banks told Recode that Apple Pay usage has been lighter than expected since it launched two and a half years ago.
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but chosen members of our portfolio services.
Still, limiting the payments service to Apple devices only seems absurd - here's hoping Apple opens up its walled garden just a little bit, should the product ever come to fruition.


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Alto-Shaam is pleased to announce the promotion of Lucy McQuillan to a newly created role as Chief Commercial Officer.
As a high-ranking member of the executive leadership team, McQuillan will drive long-term, sustainable growth for the company and its partners. She will lead the company’s commercial efforts, including the development and execution of Alto-Shaam’s strategic objectives and key results.
“As the newest addition to Alto-Shaam’s developing C-level management team, Lucy is exceptionally positioned to spearhead our commercial growth strategies,” said Steve Maahs, President and Chief Operating Officer at Alto-Shaam. “Her well-rounded background and proven leadership make her a great fit to oversee the advancement of our business and industry as a whole.”
Previously, McQuillan was the Executive Vice President of Global Sales at Alto-Shaam. She has more than 30 years of collective experience in the foodservice industry. To her new role, McQuillan brings extensive experience in marketing, product management, chain leadership and sales team development. Throughout her career, McQuillan has developed numerous commercial excellence programs, including process and people improvement programs with global teams. She began her career earning a degree in Mechanical Engineering from Birmingham University, England.
“Alto-Shaam’s growth potential is significant,” McQuillan said. “I am excited to deliver on our brand promise and drive our long-term goals that unlock new opportunities for our customers, employees and valued partners.”
To learn more about Alto-Shaam, visit our about us page.


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Walmart US has appointed Duncan Mac Naughton as chief merchandising officer for its US stores, with immediate effect. Mac Naughton will oversee all merchandise categories across more than 3,700 stores in the US business. He will continue to report to Bill Simon, Walmart US president and CEO.
Naughton joined the company in 2009 as chief merchandising officer for Walmart Canada. In October 2010, he was named executive vice-president of merchandising for Walmart US, where he was responsible for consumables, health and wellness, and walmart.com. Before joining Walmart, Mac Naughton held leadership roles at Kraft Foods Inc., H.E. Butt Grocery Company and Albertson’s Inc. He also served as executive vice president of merchandising and marketing at Supervalu Inc.
“We are fortunate to have outstanding, seasoned leadership across our merchant organisation. Naughton has distinguished himself with a proven record of success in every organisation that he has worked in, including Walmart in the United States and Canada,” said Simon. “He is a strong steward of our culture and he understands that merchandising is at the very core of our business.”
“I am pleased to have the privilege to lead Walmart US merchandising. We remain focused on ensuring that our assortment exceeds our customers’ expectations, both in stores and online. While much has been accomplished, we are working closely with our suppliers to deliver the products and the brands our customers are looking for at Walmart’s every day low prices,” said Mac Naughton.
– IndiaRetailing Bureau


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With Microstrategy’s infamous bitcoin purchase back in 2020, the firm has consistently made headlines. This time, the company purchased more bitcoins again — 262 BTC for $15 million.
Michael Saylor, CEO of Microstrategy, tweeted that the firm now holds a total of 91,326 BTC. At the time of writing, the total value for their accumulated bitcoins is more than $5 billion. Saylor mentions that the average price for their bitcoin purchase is $24,214.
As of the moment, MicroStrategy is the biggest independent publicly-traded business intelligence firm with a premier enterprise analytics platform. The firm has been consistently buying bitcoins since 2020.
Their CEO, Michael Saylor believes that 2021 will be a good year for bitcoin. The company firmly backed those words with actions as Microstrategy continues to be in the headlines for their massive bitcoin purchases.
This article first published on coinquora.com
To read the full article, Click Here


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Ruparel Realty clocks Rs 1000 crores in home sales
Ruparel Realty has registered impressive sales over the last three quarters, with an inventory sold amounting to more than 1,350 flats worth Rs 1000 crores
The recently launched tower 3 of Ruparel Optima in Kandivali, in the affordable housing segment has received an overwhelming response with impressive sales of 375 units leaving only 95 units for potential buyers.
Meanwhile, their luxury project Ruparel Palacio sold 50% of its inventory in only 9 days.Ruparel Palacio is one of the first buildings in Mumbai’s western suburbs to offer a private elevator to each apartment and two apartments per floor to ensure maximum privacy to its residents. This project comprises of 2 and 3 BHK with a carpet area of 799 sq/ft and 935 sq/ft respectively and prices starting from INR 1.73 Cr.
Other projects which received similar response were Sky Greens and Optima tower I & II in Kandivali launched earlier in April 2017.
“We were expecting a good response to our projects and look forward to building on this drive in the months ahead. We have seen an upward trend in sale of 1BHk apartments in the affordable segment and managed to sell more than 80% of the inventory in our recently launched project, Optima”, said, Amit Ruparel, Managing Director, Ruparel Realty.
He added, “Regulatory measures taken by the government over the last one year are now showing positive effects in the real estate sector. We are confident of the growth in the sector and plan to launch more projects in the coming year”.
Of the total 1,350 flats sold, nearly 990 flats accounted for 1 BHK which reflects a shift in consumer trend towards smaller & affordable houses.
The company is currently constructing residential and commercial projects spread across more than 3 million sq ft in Mumbai and Navi-Mumbai.


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Ladies: Come to Thailand and get your breasts slapped
Thailand is already famous for its medical tourism services, including affordable breast implants and liposuction.
Now word is spreading overseas of a beauty shop in Bangkok that offers non-surgical “body-slapping” treatments to improve the female figure.
A riveting Bangkok Post video takes a look at the shop that provides these treatments, which is owned by Khemmikka Na Songkhla -- aka Khunying Tobnom -- who has been practising the techniques for two decades.
The procedures include slapping a women’s breasts to make them larger, as well as buttock- and face-slapping to firm things up. According to media reports, the Thai Health Ministry carried out a six-month study on the procedure and determined the slapping technique to be legit.
So should we expect inflows of slap-happy tourists begging for Khemmikka’s treatments? Perhaps.
For more on the shop, Ban Tobnom, visit www.bantobnom.com. Address: 32/78 Ramintra Soi 65, Lad Prao, Bangkok. Tel: +66 (0)2 945 8296


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US LPG export spike may push VLGC rates to $300,000/day by 2015: DNB
Singapore (Platts)--11 Dec 2013 459 pm EST/2159 GMT
Very large gas carrier freight rates could rise to $200,000-300,000/day in late 2015 and beyond from the current $37,000/day with the opening of the enlarged Panama Canal, because of the spread in propane prices between the US and China, DNB Markets said Wednesday.
VLGCs sailing through the expanded Panama Canal will result in more arbitrage cargoes moving east, the DNB report said.
VLGC demand to ship out from the US would increase from 16 vessels in 2013 to 78 ships by 2017, the report said, with more than 50% of the volume going to north Asia by 2017, up from around 20% currently.
LPG traders, such as Vitol, are currently seeing a profit of $7.7 million per VLGC cargo based on an 84-day round voyage, current spot VLGC rates, current propane arbitrage of $414/mt, and a terminal fee of $68/mt, DNB said.
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LP Gaswire reports on the LPG/NGL industry every business day. It details emerging market trends, pricing, and market news for ethane, iso-butane, natural gasoline, normal butane, and propane in the Japan, Arabian Gulf, Mediterranean, Northwest Europe, and U.S. Gulf Coast markets.
Propane is currently priced around $620/mt in the US compared with $938/mt in northwest Europe and $1,034/mt in China. Chinese butane prices are even higher, at around $1,114/mt.
DNB said officials from Japanese trading house Itochu, Vitol and US group Enterprise Products were interviewed for is research report.
Butane and propane are mainly used for gasoline blending, as a fuel gas, and as a feedstock for the petrochemical industries.
The arbitrage movement on propane has been affecting VLGC spot rates, which reached a high of $55,000/day in the third quarter.
The LPG market in 2015 is likely to have tight vessel availability and a high arbitrage, DNB Markets said, adding US LPG exports alone will absorb the current VLGC order book for 2014-16, assuming there is no further expansion of LPG terminals in the US.
DNB raised its forecast for VLGC rates during 2013-15 by 40% to $45,000/day for 2014, $60,000/day for 2015 and $55,000/day for 2016, up from a previous forecast of $37,000/day during 2013-16.
The US share of global LPG trade is on the rise and this will push up the demand for VLGCs to ship the gas. The US accounted for 12% of the LPG exports of the top 9 exporters in 2012, rising to 21% in 2013.
--Sameer Mohindru, firstname.lastname@example.org
--Edited by Dan Lalor, email@example.com


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A woman already jailed on drug charges has been tied to a pair of theft cases at Target at Rolling Acres Plaza in The Villages.
A loss prevention officer attempted to stop the woman Dec. 4 as she attempted to leave the store with a hover board electric scooter without paying for it, according to an arrest report from the Lady Lake Police Department. The hover board was worth $179.99 and had been placed in the bottom of a shopping cart. The woman fled the store with the shopping cart and the hover board.
The same woman returned to the store on July 14 and stole a Canon Ivy mini printer after concealing it in her backpack.
Both thefts were captured on surveillance.
Jessica Hope Clark, 21, of Wildwood, was arrested on drug charges July 31 by Fruitland Park police.
She was identified as a suspect in the Target thefts and warrants were obtained for her arrest.
She remains behind bars at the Lake County Jail on $5,000 bond.


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Symantec’s Intelligence report for June shows a marked drop in spam received by business email users worldwide. Their metrics show businesses received a little less than half the spam they usually receive over a month. Perhaps the spammers are taking vacation days as well?
Agent Alex has been following news about the Cryptowall, Cyptolocker and Crowti malware as part of his service as a member of our Technical Tools Team. He reached out to say that there have been some recent developments to which we should pay attention. Let’s let him tell it.
Apple computer users have mostly flown under the “malware radar” for years. For a variety of reasons, the Mac operating system (OS) wasn’t targeted by hackers as much as Windows was, and Mac users were able to browse the Web largely unaffected by infections. But as Apple’s share of the computing market has grown, cyber-criminals have set their sights on the Mac OS.
So you’re sitting there, innocently using your computer, when a window flashes on the screen, bearing the logo of the FBI. You’ve been locked out of your computer for breaking some not-too-specifically-identified copyright law. The solution on the screen? Pay a fine to the “FBI” to “unlock” your computer and use it again.


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This story has been updated to include stock price change.
NEW YORK (TheStreet) -- American Eagle (AEO) shares are plunging more than 9% after the teen retailer reported a tough third-quarter leading to a more cautious outlook for the rest of the year.
As expected, American Eagle reported adjusted earnings of 19 cents a share. The Pittsburgh-based company had said last month that it was upping its adjusted earnings guidance to 19 cents a share from 14 cents to 16 cents a share based on slightly better margins than previously expected.
On a GAAP basis, the company reported net income of $24.9 million, or 13 cents a share compared to $78.6 million, or 39 cents a share, in the year-earlier period. This year's quarter includes non-cash charges of 6 cents a share related to the company's previously disclosed plans to close a distribution center in Warrendale, Pa., as it opened up a new one in Hazelton, Pa.
The company had alerted investors last month that revenue declined 6% in the quarter to $857 million while comparable sales decreased 5%, which includes online sales.
Still shares were sinking 9.6% to $14.82 on Friday after the company said that it expects fourth-quarter earnings between 26 cents and 30 cents a share "based on a double-digit decline in comparable sales."
Analysts, according to Thomson Reuters, were expecting fourth-quarter earnings of 39 cents a share. American Eagle posted adjusted earnings of 55 cents a share in the year-earlier quarter.
American Eagle joins other teen retailers in reporting rough third quarters. Aeropostale (ARO) reported a larger-than-expected loss on Wednesday and said comparable sales plunged 15% in the quarter. Elsewhere, Abercrombie & Fitch (ANF) and Express (EXPR) are also suffering.


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As more carriers roll out STIR/SHAKEN, phone numbers and source of calls will be verified. Carriers are experimenting with various alerts, but to date there is no standardized way of notifying consumers of verified calls. If the call can be validated, the consumer may be notified with a verification keyword or symbol on the incoming call display. If the call cannot be verified, the call may be blocked or the consumer notified on their caller ID screen warning of a potential scam call. For more about Stir/Shaken Service Providers visit my website.
The purpose of notifications is to allow consumers to decide whether they wish to answer, ignore or block the number. With STIR/SHAKEN and other anti-robocall protections in place to stop scam calls, consumers should feel more confident and empowered about answering the calls they do want to receive.
Regulators and legislators continue to enact new rules to ensure service providers implement effective ways to combat illegal robocalls. In response, phone companies are deploying Caller ID authentication with the STIR/SHAKEN standard. But what does this mean for businesses and how they connect with customers through calls?


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Wickedride Adventure Services Pvt. Ltd, which runs separate online motorbike and scooter rental platforms, has raised Rs 62.13 crore (around $9.1 million at current exchange rates) in a fresh funding round led by venture capital firms Sequoia Capital and Accel Partners.
According to the Bengaluru-based startup’s latest filings with the Ministry of Corporate Affairs, Raghunandan Gangappa - the co-founder of ride-hailing firm TaxiForSure, which was acquired by Ola - also participated in the round.
In February, VCCricle had reported that Wickedride was in the process of closing a $10 million funding round. This was soon after the firm had raised $1.5 million from the family investment office of Sutures India chairman Chandrasekhar Gopalan.
The latest round, which was secured earlier this month, valued the company at roughly around Rs 130-132 crore (around $19 million), as per back-of-the -envelope estimates by VCCircle.
It could not be immediately ascertained whether this was the company’s Series-B round.
Separate email queries sent to Varun Agni and Anil G, two of Wickedride’s co-founders, as well as Sequoia and Accel Partners did not elicit responses till the time of publishing this report.
Wickedride Adventure Services Pvt. Ltd was started in 2014 by Vivekanand Hallekere along with Varun Agni and Anil G. The company operates two different entities for its online bike and scooter rental ventures.
WickedRide is its premium motorbike rental platform, where users can rent from a fleet which includes brands such as Harley Davidson, Benelli, Royal Enfield, Kawasaki, Triumph, Ducati, KTM and Americana.
Users can rent the bike on an an hourly, weekly and monthly basis. The service is available across more than 10 locations including Bengaluru, Mysore, Jaipur, Manipal, Ahmedabad, Gokarna and even New Zealand, according to information available on WickedRide’s website.
In 2016, Uber had partnered with WickedRides to offer premium motorcycle ride services, as part of its ‘Uber Moto’ offering which was later shuttered as it was found to be in violation of the regulations.
The Metro Bikes arm of the business offers motorbikes and scooters on hire primarily for urban commutes and last-mile connectivity.
Users can avail the one-way rental service which allows them to pick up the bike from a designated location and drop it off in another one.
This service is also available across more than 10 locations across India.
Metro Bikes also offers a monthly subscription-based plan where a user can pick a bike/scooter from a metro station, take it home and drop it back there the next morning.
Recently, the firm launched this service in association with Bengaluru Metro Rail across 33 metro stations in the city.
Earlier this month, The Economic Times had reported that Omidyar Network and Hero Group’s Sunil Munjal were in advanced talks to separately invest in Metro Bikes.
Deals in the Space
A few ventures in the broader online vehicle rental space have raised funding in recent months.
In April, the parent of online scooter rental platform Vogo raised $7 million (Rs 45.5 crore) in funding led by homegrown ride-hailing major Ola.
In February this year, car rental startup Zoomcar raised $27.6 million (Rs 176 crore) from automotive major Mahindra & Mahindra Ltd as part of a $40 million Series C round.
Before that, Bengaluru-based self-riding bike rental company Ontrack raised an undisclosed amount in seed investment from Diverse Middle East FZE, a Dubai-based family office, and others.


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An industry alliance spearheaded by Nestlé Professional today asked hospitality ambassadors to step forward to promote the industry to young people. The ‘Choose Hospitality Pledge’ includes Choose Hospitality, CareerScope, Springboard, and a growing number of hospitality and industry leaders. Partners were brought together by Nestlé Professional following its research revealing that young people have negative perceptions of the sector. To address this, the alliance is mobilising a team of hospitality ambassadors, tasked with visiting secondary schools across the UK to give young people an inspiring and comprehensive picture of the hospitality sector.
More than 40% of hospitality businesses now face skilled worker shortages, Over the next 5 years, the situation is expected to get worse, with experts forecasting a 13-14 million talent gap for positions suitable for hospitality graduates. To understand why the hospitality sector is finding it particularly hard to recruit talent, Nestlé Professional commissioned MMR Research to speak to young jobseekers, young hospitality professionals and industry influencers from across the UK.
The research revealed that, although some young job seekers are interested in the industry, many view it as a ‘back-up career’, with long hours and hard work. These negative perceptions are fuelled by insufficient information and a lack of ambassadors they can relate to. When it comes to advice, more than 1 in 4 young people ask people already working in the industry, valuing their advice over that of their teacher or careers advisers. Fortunately, 62% of the young people working in hospitality say they love their role, indicating an untapped pool of potential ambassadors.
To address this, Nestlé Professional has convened the ‘Choose Hospitality Pledge’, encouraging hospitality businesses and rising industry stars to put themselves forward as industry ambassadors. Hospitality leaders including Whitbread, Compass, Sodexo, Elior and PACE have already pledged support, plus industry organisations such as Bridging the Skills Gap and the Institute of Hospitality. These will be promoting the scheme and providing ambassadors to send out to schools in each region. Ambassadors will be given specially developed materials, speaking aids and opportunities at their local schools to help them engage youngsters and promote a career in the industry.
Katya Simmons, managing director Nestlé Professional UK&I says:
“Hospitality businesses are more than twice as likely as other industries to experience challenges filling vacancies . We were keen to understand why, so we could highlight ways in which our industry could come together to deal with these issues.”
“We learned that a lack of clear information and advice from key influencers has led to a serious image problem for the industry. Yet at the same time we have an untapped resource of bright, young individuals who could be inspiring and educating young people on hospitality careers.
“Given the severity of current recruitment challenges, it’s important that we act now. The Choose Hospitality Pledge is all about galvanising up-and-coming hospitality superstars. Helping us to get young people excited about our industry again, and showcasing hospitality as a stimulating, flexible and incredibly rewarding career.”
Amanda McDade, CareerScope says:
“Forging industry and education links is one of the most effective ways to highlight the vibrant and diverse job roles in hospitality. There are plenty of inspiring industry ambassadors out there who are passionate about their job and the industry and keen to showcase these.
“Springboard’s Ambassador programme is already doing an amazing job, connecting industry ambassadors with young people. We’re looking forward to sending even more ambassadors out into schools through the Choose Hospitality Pledge. Because only through giving schoolchildren a solid understanding of hospitality at an early age can we start to nurture and inspire future industry talent.”
Claire Bosi, Choose Hospitality says:
“The UK’s hospitality sector is incredibly diverse and varied, making it one of the most exciting sectors to work in world-wide. Despite this, there’s still very low awareness around the roles available to young people, and the potential for them to progress fast. Our hard-hitting team of ambassadors at Choose Hospitality do a fantastic job, inspiring young jobseekers to consider a career in the sector. We’re looking forward to working with others in the alliance, taking inspiring ambassador out to schools, so they can start working their magic even earlier!
Gemma Raby, Whitbread says:
“Young people have joined Whitbread, and no doubt countless other hospitality businesses, with no academic qualifications, and have gone on to have fantastic, fulfilling careers at a senior level. It’s a well-kept secret, but it shouldn’t be.
“Hospitality isn’t about entry level, no skill or experience required roles, it’s a place where young people can start in these roles and quickly progress to senior level, be that running their own business, developing menus and food offerings or in finance, digital and tech or learning and development roles.
“At Whitbread, we’re committed to being a Force for Good in the communities in which we operate. We were already taking action, promoting hospitality to local secondary schools before we heard about the Choose Hospitality Pledge. It is important that we share our stories to highlight to young people the amazing variety of careers that are available and just how accessible they are to all.
To sign up as an ambassador, businesses and individuals should go to https://careerscope.uk.net/choose-hospitality-pledge/


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Dow Coating Materials Introduces Innovations at Symposium
October 12, 2009
PHILADELPHIA – Dow Coating Materials, a business unit of The Dow Chemical Co. dedicated to innovation in the paint and coatings industry, will be showcasing a wide range of new technologies and research initiatives at the Western Coatings Symposium in Las Vegas, taking place October 25-28. The eight presentations by Dow researchers will focus on a variety of innovations made possible following the company’s recent acquisition of coatings powerhouse Rohm & Haas. The Western Coating Symposium will be the first major North American event where Dow showcases the newly formed business.


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Last week, we joined thousands of the financial sector’s leading professionals in Las Vegas for the Money20/20 USA conference.
A key theme throughout was the importance of compliance and consumer protection amidst new innovations in the consumer finance industry.
Here are our key takeaways from the event for compliance professionals, including using compliance as a competitive advantage, key considerations for BaaS partnerships, the impact of artificial intelligence (AI), and consumer protection and financial inclusion.
Compliance is a competitive advantage
Compliance, as we know it, is undergoing a radical transformation. It’s evolved from a check-the-box mandatory process to a competitive differentiator. Understanding the spirit of regulation is the first step in gaining a competitive edge—acknowledging the reasoning behind regulations (although they sometimes can feel tedious) can help foster a better product or service from the get-go.
To truly excel with compliance, it should be integrated into a company’s culture from the beginning and be an ongoing program with everyone on the team taking part. If an organization starts “the right way,” then there are numerous advantages you can get out of compliance down the line—increased speed-to-market, seizing opportunities, avoiding silos, building trust with partners and consumers, and more.
In the fast-paced world of consumer finance, and especially for fintechs, agility is vital for success. To achieve total agility, companies must have someone knowledgeable about legal and compliance matters on board from the beginning. This enables them to move swiftly and make informed decisions while mitigating risks.
Not to mention, the cost of noncompliance can be hefty. In a compliance survey conducted by Alloy, it was found that 60% of fintechs identified noncompliance costs as a significant concern, with 37% of them paying over $500,000 in compliance-related fees.
And, if an organization gets hit with an enforcement action, they then have to navigate additional costs, including those of an investigation and legal fees, and internal teams must dedicate time to investigations. Investing in compliance from the beginning is not only a strategic choice but also helps reduce costs in the long run.
As the industry continues to evolve through partnership and technology advancements, compliance must take a front seat. Organizations should look at compliance as a competitive advantage and integrate it into the company culture from the beginning to reap its benefits—increased speed-to-market, trust-building, risk mitigation, cost savings, and more.
BaaS partnerships thrive with trust and compliance
Another key theme revolves around partnerships between fintech companies and banks—a relationship led by trust and transparency.
For fintechs, embracing their bank partners allows for open communication and swifter market entry. Meanwhile, building a solid foundation in compliance requirements can lead to higher customer satisfaction, repeat business, and sustainable long-term value.
Fintechs that invest in compliance can avoid silos that often form in more established companies, where compliance and risk data get disconnected from other parts of the business. This integration and open communication help build a strong relationship between fintechs, banks, and regulators, fostering success on all sides.
The takeaway is that as the sector continues to evolve, we can expect to see an increasingly consistent approach to compliance. And, banks and fintechs alike play a critical role in ensuring marketing compliance and helping their partnerships thrive.
AI’s promise also poses risks to the industry…
AI was brought up in probably just about every session this year, and its potential is almost limitless—but a much-discussed risk in the consumer finance industry was specifically around bias and discrimination.
There’s a need for comprehensive and unbiased data to support ethical AI practices. The output from AI is only as good as the input—meaning, if biased and skewed data goes in, biased and skewed results come out.
While formal regulations are lacking in the space, the CFPB has been vocal about AI and its expectations, and other regulators will likely follow suit in the near future.
The takeaway is that AI should be used responsibly. Explainability is the name of the game—organizations have to understand and be able to explain the data used, what it’s being used for, its outcomes, and the controls in place to mitigate risk.
While bias can’t be completely eliminated, there are certainly efforts that can be made to minimize it.
…But AI is revolutionizing compliance in a good way
Although AI does pose risks if not used responsibly, it still offers benefits for the compliance function.
AI, bots, and automation are revolutionizing compliance—creating dynamic, proactive systems that replace outdated, static practices. The benefits? Reduced financial and regulatory risks and greater efficiency.
Consumer finance organizations should be eyeing automation and bots to modernize and enhance their compliance procedures while bearing in mind their limitations and ensuring that procedures and practices are compliant with existing regulations.
Using technology and automation for compliance efficiency
In the dynamic landscape of finance and compliance, technology encourages successful partnerships between risk and compliance teams for fintechs and banks.
As growth and profitability remain priorities, technology serves as a valuable tool to help manage costs, improve compliance processes, and resolve data quality issues—especially for established banks still working with outdated systems and fragmented data.
As the sector continues to evolve, the adoption of innovative technology is key for effective risk management and successful partnerships.
PerformLine hosted an entire session on this topic—Watch the session on demand here.
Financial inclusion is just as important as consumer protection
A pivotal concern in the financial industry is finding a balance between consumer protection and financial inclusion. Both of these are important as financial technologies and products continue to innovate—but so far, only consumer protection has made it to formal regulation.
The absence of legislation to address access to capital creates roadblocks for underrepresented consumers. While there are years of consumer protection rules, regulations, and precedents, research shows that the bottom line hasn’t moved for underrepresented consumers.
It’s clear that the Consumer Financial Protection Bureau (CFPB) is a substantial player in the space. The CFPB has made innovative strides toward financial inclusion in recent years but has yet to publish clear rules or regulations for consumer finance organizations.
The takeaway is that financial institutions should be at the forefront of advocating for—and implementing—inclusive policies, prioritizing consumer protection while promoting inclusion.