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Old innovation ecosystem models are broken, it is time to realise the open models based around startups (particularly scalable global product based tech startups) are the key to our future. The above diagram by StartupCommons summarises the change in focus at a macro level, we also need to look at the basics of our cultural … Continue reading The Way Forward for Innovation in Australia
As blockchain outstrips bitcoin in fintech what are the hot areas? CB Insights has some insightful views, looks a bit like Google Trends...
Mobile has long been the catch cry for startup and enterprise Business Technology experts alike. This article originally from TechCrunch gives a very well prioritised list of how and why with examples.
Seven years ago when the iPhone was first introduced, smartphones were a novelty. Now they’re the default method of computing for most people. As of late last year, Americans spent 34 hours a month on their mobile devices, compared with just 27 hours accessing the web via a computer, according to Nielsen.
This mobile-first mindset has also deeply permeated the enterprise. Some 95 percent of knowledge workers own smartphones, and they reach for them first to do all kinds of tasks – from email and document sharing/management to meeting planning and videoconferencing.
Smartphones and tablets are also rapidly entering business sectors such as construction, shipping, manufacturing, healthcare, real estate, education, law enforcement, fleet management and others. Most people have noticed field workers using mobile devices equipped with industry-specific apps (everyone from rental-car agents to home contractors) to…
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This new MS CEO is unlike any other, after Office on iPad and Salesforce.com now there is this droid phone, talk about changing strategy …
Meet the Nokia X2, the first Android-based smartphone being made by Microsoft.
Yes, you read that right: Microsoft has just made a new Android-based handset.
It’s also still using the Nokia name at this point, despite previously saying it didn’t plan to trade on that name for long. (Evidently Microsoft’s marketing minions are still working on cooking up that “go forward” smartphone brand.)
The Nokia X2 is not the first Android device Microsoft owns, being as Redmond took over Nokia’s mobile making division in April — a move which brought the original Nokia X device under its wing. But some doubted whether Microsoft approved of Nokia’s Android experiment — and speculated that the line would be quickly culled by Redmond.
Nokia forked Android back in February to create a new smartphone platform, which it called the Nokia X Software Platform to slot in between — pricing-wise — its Series 40 based low cost Asha devices and its Windows Phone…
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Britain is able to set its own trade policy as a result of its exit from the European Union, and Boris Johnson has hailed a pact with the US as a key post-Brexit prize. Here’s what you need to known about deals and their potential impact on the UK economy.
What is a trade deal?
Trade deals are contractual arrangements between countries that regulate their trading relationships. A free trade deal typically aims to make trading easier by reducing or eliminating charges or taxes, known as tariffs, on goods crossing national borders. These tariffs can also apply to services, as well as goods.
Another goal of trade deals is to remove quotas on the amount of goods that can be traded between countries. Some deals also seek an alignment of regulations or rules to make trading simpler between the countries involved.
Trade deals can be bilateral between two countries or multilateral between more than two states.
What impact did Brexit have on the UK’s trading relationships?
One major outcome of Brexit is that the UK is now able to negotiate, sign and ratify its own new trade agreements. While the UK was a member of the EU its trading agreements were negotiated by the European Commission on behalf of the bloc as a whole.
The Government says it is seeking “to reproduce the effects of trading agreements that previously applied to it to ensure continuity for UK business”.
To this end, the Department for International Trade was set up following the Brexit vote with the priority of launching negotiations with the US, Australia and New Zealand.
The current Secretary of State for International Trade is Anne-Marie Trevelyan, who replaced Liz Truss after she was appointed Foreign Secretary in a cabinet reshuffle.
Why does the UK want a trade deal with the US?
America is the single largest trading partner for the UK, with over £200bn worth of trade a year already occurring between the countries. A trade deal with such an important partner could offer significant economic benefits – although some experts have argued most elements of trade between the US and UK are already covered by existing arrangements.
However, expectations of a quick agreement between the countries have faded, with the Biden administration appearing to be more focused on domestic priorities and Boris Johnson telling reporters that he would “much rather get a deal that really works for the UK than get a quick deal”.
UK officials have suggested an alternative to signing a deal with the US could be to join the existing free trade agreement between the US, Mexico and Canada, known as USMCA. It was signed in 2020 while Donald Trump was still in office following a long renegotiation of the 1994 Nafta deal between the three countries, and primarily covers specific regional issues related to the three North American nations.
However, USMCA has limited coverage of services, a strong component of trade between the UK and US, so joining would probably offer fewer upsides than a direct deal with Washington. It also has no built-in accession process for prospective entrants, so it is not clear how the UK would go about joining.
What other trade agreements does the UK want to join?
The UK also formally applied in early 2021 to join a free trade agreement between 11 countries around the Pacific Rim, known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The CPTPP members are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. CPTPP countries accounted for £110bn of trade with the UK in 2019, with the agreement covering 500m people between its member countries.
On June 2 2021, it was announced that the accession process would begin to allow the UK to join the CPTPP, which would remove tariffs on 95pc of goods traded between members.
What trade deals has the UK already signed?
Since leaving the EU, the UK has signed trade deals with 69 countries and one with the EU. Nearly all of these deals replicate the arrangements that were in place before Brexit.
The first deal to contain marked changes of these was the UK-Japan Comprehensive Economic Partnership Agreement (CEPA), which was signed in October 2020 and including some expanded provisions on digital services. The Government claimed that the boost to trade between the UK and Japan would be over £15bn, but did not provide a timeline for this estimate.
The UK also reached a free trade “agreement in principle” with Australia in June 2021, which outlined the broad strokes of a deal that is yet to be formally agreed. The Government says this will mean over £4bn of UK exports will no longer be subject to tariffs. Full access for beef and lamb imports from Australia will not occur for 15 years, but there were concerns at the agreement’s announcement that farmers could be undercut by cheap imports.

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Sneakers and artistic expression have long been linked but few are the kicks that can cross genre, culture, and style boundaries. Even rarer are those that can do so while remaining relatively unchanged for decades on end. The Converse Chuck Taylor sits atop that exceedingly short list. 100 years after their debut, Chucks are still as cool on Lil Wayne as Wilt Chamberlain.
Unlike many sneakers, whose brand image may depend on new features and technology, the cachet of Converse is heavily tied to the style of those who wear them. So, for its newest campaign “Made by you,” the brand has curated a collection of portraits, showcasing the diversity and self-expression of individuals past and present who have chosen to wear Chuck Taylor All Stars–from musicians to artists, skaters to fashionistas, the known and the unknown. But these aren’t portraits of the people, just the Chucks.
Converse collected over 200 unique Chucks from around the world and will kick off the campaign with street exhibitions of the portraits in New York, London, Beijing, displayed outdoors on the streets in huge light boxes. Patti Smith, the Andy Warhol Foundation, artists Futura and Jeff Soto, model Sayo Yoshida, media folk like Jefferson Hack of Dazed magazine and Maxim editor-in-chief Kate Lanphear, as well as “Style Guy” Glenn O’Brien will be featured alongside portraits from everyday Chuck fans.
Geoff Cottrill, Converse’s vice president/general manager of brand and segments says the brand team did a lot of work thinking about what the simple truth is that connects people and connects this brand to people, and arrived at the Chuck being a badge of self-expression. That is, Converse makes the shoe, but the people have made the brand.
Patti Smith isn’t exactly known for her commercial endorsements, but Cottrill says the legendary artist was all in for her Chucks. “I was with Patti Smith recently and she said, ‘I don’t really do these kinds of things but when you guys called I was immediately in. Converse is my sneaker, worn it my whole life, I love it.’ And she really wanted to tell the story of her sneakers.”
Cottrill says the brand gets about 13,000 social media tags every day in which people are talking about their Chucks, whether it was a trip to a gallery, a concert, painting, traveling, they’re telling a story through the lens of their sneaker. “We thought this is something we need to tap into and celebrate,” he says. “This is happening without us already. People are celebrating their Chucks without us, so we’re just trying to support and shine a spotlight on it.”
The campaign also includes a Google Cardboard experience in New York City, where people will be able to stand next to 15 nine-foot portraits of sneakers, slip their phone in the Cardboard and enjoy a 3-D experience with stories on artists Ron English and King Tuff. Those not in New York will still be able to check it out on their smartphone or desktop. Converse is also launching a new Chuck Taylor tumblr to celebrate fans’ creativity and self-expression with the shoe, and fans will also have the chance to get their own kicks photographed and made into portraits at local Converse stores.
Cottrill says “Made by you” fits into the brand’s overall marketing strategy of not only celebrating self-expression and the individual around the world, but also contributing to culture. He likens using the sneaker as a way for creative people like Ron English or Patti Smith to tell a story, to the brand’s Rubber Tracks studio in New York, which provides free recording studio time for bands and artists. “It’s our small way of contributing to culture,” he says. “I’d much rather contribute to youth culture than sponsor it. So it’s a matter of us doing things, rather than co-opting or extracting cool from our consumers.”


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Two disclosures before I get to the body of this entry:
First, an apology to the Linksys executive that I spoke with several weeks (maybe, ahem, two months ago) about their sustainability issues. Sorry it has taken so long to actually WRITE this post. Sorry for having a personal life, or at least trying to have a personal life.
Second, any time I write about Cisco's green strategies, I feel obliged to mention that I do some regular communications consulting work for the organization that runs their reseller channel partner programs (aka, their worldwide channels organization). This work has NOTHING to do with any of their green strategies, but I want everyone to be aware of the connection nonetheless.
Now, onto your regularly scheduled blog.
So, today, the company is launching what it's calling its One Million Acts of Green campaign in order to get people to start doing the little things that could make a difference in reducing overall greenhouse gas emissions. Here's a link to the site. Still under 100,000 acts in the United States. What are you waiting for?
Cisco is also using the initiative to tout some of the things that one its divisions, the Linksys home networking unit, to cut back on its impact. This, actually, was the topic of my interview earlier this year (ahem) with Marna Bullard, vice president of worldwide marketing for the Cisco Consumer Business Group and the executive sponsor of green activities for the company.
Working with supply chain management company ModusLink Global Solutions, this Cisco unit has reduced its overall packaging materials for each product shipped by almost 49 percent, according to Bullard. This, in turn, has helped it cut back on the number of air shipments needed to get its products from Point A to Point B.
The company also is sourcing inks that are soy-based, which is 100 percent recyclable. Nearly 100 of its products in in packages that use at least 80 percent recycled content.
Although Bullard originally expected these practices to cost more, she has managed to keep her costs at LEAST even with the previous methods, which were much harder on the environment. "The net-net was that we ended up around even," she says, speaking referring to the packaging overhaul.
Here's a link to more information about the various things that this Cisco unit is doing to help improve its sustainability message, without raising its overall costs.
This stuff didn't happen overnight. Bullard's team worked with their counterparts at ModusLink for about a year-and-a-half in order to rethink their supply chain practices. The company has a suite of services call the Sustainable Solutions Suite that covers everything from package design to supply chain network optimization to footprinting of your supply chain's greenhouse impact.
Ryan Humphrey, director of professional services for ModusLink, says his company is engaging most frequently with companies from the consumer electronics and computer peripherals/storage sectors, especially those that need to balance environmental concerns with retail marketing considerations. When it comes to packaging, which is a big source of waste and potential cost savings for many of these companies, Humphrey says companies should focus on four main considerations:
Incidentally, the World Resources Institute and A.T. Kearney released a study late last year about the potential impact to the consumer goods industry if they DO NOT adopt more sustainable business practices. The study they cosponsored suggests that companies that fail to embrace new practices could see a decline in earnings of between 13 percent and 31 percent by 2014 and between 19 percent and 47 percent by 2018.


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Bad news for tools: The end of the Hummer SUV
Those who require an oversized, gas-guzzling, military-style tank to drive to Starbucks are in for some bad news.
According to the Wall Street Journal, GM's negotiations for a sale of the Hummer brand to Chinese manufacturer Sichuan Tengzhong Heavy Industrial Machinery Co. fell through on Wednesday. Chinese regulators failed to approve the $150 million deal, concerned with Hummers' large size and poor fuel economy as well as adding another vehicle to an already crowded market of Chinese auto manufacturers.
Introduced to the United States in 1998, the Hummer, styled after the military Humvee tank, was a giant, hulking, parking-spot-hogging symbol of the years of excess, along with tanning parties, spinning rims, bling-bling culture, Paris Hilton, life coaches, The Real Housewives of Orange County, and the word 'humongosize.'
But like the fratboys and suburban princesses that seemed to favor them, the Hummer fizzled out fast. It sold 71,000 units in the U.S. in 2006. By 2008, sales were down to 9,000, according to Time Magazine.
GM says it will begin an orderly wind-down of the Hummer brand network and will still honor Hummer warranties. (At least, that's a temporary break for famous Texas burnt orange hummer owner Roger Clemens.)
Good-bye, Hummer. And may I add: Good riddance.


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March 29, 2000
E-tail Sales Follow Their Own Timetable
By J. D. BIERSDORFER
ale time in the world of brick-and-mortar retailing tends to
mean holiday time -- Presidents' Day, Labor Day and other
times when people are off work and
physically out shopping. On the Web,
retailing is also developing its own
sale rhythms, though they are less
predictable and tied to the times
people are in cyberspace or visiting
Many e-commerce sites already
discount merchandise and therefore
do not follow traditional sales schedules. The exceptions are the big shopping holidays -- Christmas, Valentine's Day, Mother's Day and Father's Day -- according to statistics
from BizRate.com, a site that tracks
online shopping habits.
Sites that specialize in gift-giving
help spread online shopping activity
past the holidays. Flooz.com, which
sells gift currency that users can
redeem in online stores, is seeing the
sales of its retail partners, which
include Tower Records and Godiva
chocolates, increase at off-peak
times. "They love that we can take
advantage of the holidays by getting
people to send and receive Flooz, and
then drive the recipients into the
stores right after the holidays," said
Robert Levitan, the company's cofounder and chief operating officer.
Reel.com, a film-related site that
combines content with the sale of
movies on videocassette and DVD,
offers sales and promotions tied to
news events and trends rather than
calendar holidays, said Dave Rochlin, the chief operating officer. The
site has made its own annual sales
tradition centered on the Academy
Awards. "We obviously know the Oscars are huge for movie watchers,"
Mr. Rochlin said. He added that
Reel.com has in the past brought in
many customers for its content,
which included Oscar-prediction
games and film retrospectives, and
ended by selling them movies.
Even sites that are spun off from
traditional establishments are
adapting their sales practices to the
habits of online shoppers. "We're catering to different customers with
different time considerations," said
Gene Domecus, the vice president
for Internet merchandising at Macys.com. "When consumers come to
your Web site looking for a product,
they are ready to buy it now. 'On sale
tomorrow' or 'Come back three days
from now' doesn't work."
Macys.com went online in 1996 offering only bridal registry services.
The site was revamped in 1998 to
include many of the items found in
Macy's retail stores, from women's
suits to toasters. But though the merchandise may be the same, the sale
practices are not. The purchasing
habits of online shoppers differ: "I
do most of my business between noon
and 3," Mr. Domecus said. "People
really shop online at lunchtime and
then after 10 at night." Sales online
are a different animal, too; the borderless dimensions of Macys.com enable the site to reflect a special sale
at the Macy's West or Macy's East
But the convenience of online shopping in general may also diminish
the need for significant discounting.
"When the stores are closed and
we're still open and doing business,"
Mr. Domecus said, "the sale calendar also starts to not make sense."


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TDK has announced the release of two premium audio Boomboxes and a Sound Cube as part of its Life on Record range
The Sound Cube pumps audio out from four sides of its compact frame
A modern take on the Boombox that graced the shoulders of many a hip hop fan in the 1980s
The Boombox sports a 6-inch subwoofer and a couple of 6-inch coaxial drivers which knock out 35 Watts of full range power
The two-speaker Boombox's full range output is rated at 20 Watts RMS
The retro rotary dials are joined by touch sensitive controls, which can be used to access and play audio files on a connected external flash or hard drive
TDK has announced the release of its Life on Record range. The new line of premium audio gear includes two- and three-speaker Boomboxes and a 360-degree Sound Cube. Each member of the line-up mixes retro styling with modern functionality, and even allows users to plug in an electric guitar or microphone for some play/sing-along fun.
Other Images from this Gallery


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Chinese companies have sent Russian entities 1,000 assault rifles and other equipment that could be used for military purposes, including drone parts and body armour, Politico cites data provided by Import Genius, a customs data aggregator.
The shipments took place between June and December 2022, according to trade and customs data obtained by Politico. China North Industries Group Corporation Limited, one of the country’s largest state-owned defence contractors, sent the rifles in June 2022 to a Russian company called Tekhkrim that also does business with the Russian state and military.
Weapons modelled off of the M16 but tagged as “civilian hunting rifles” in the data
have been reported to be in use by paramilitary police in China and by armed forces from the Philippines to South Sudan and Paraguay.
Russian entities also received 12 shipments of drone parts by Chinese companies and over 12 tons of Chinese body armour, routed via Turkey, in late 2022, according to the data.
Da-Jiang Innovations Science & Technology Co., also known as DJI, sent drone parts — like batteries and cameras — via the United Arab Emirates to Russia in November and December 2022.
It is currently unclear if Russia is using any of the rifles included in the shipment data on the battlefield, But the DJI drones have been spotted on the battlefield for months.
Russia managed to import body armour worth around $10 million in December last year, according to the customs data from Import Genius. Those bulletproof vests were manufactured by Turkish company Ariteks and most were imported straight from Turkey, although some of the shipments arrived to Russia via the United Arab Emirates. Russia also imported some body armour from Chinese company Xinxing Guangzhou Import & Export Co.
Trade data also shows that Russian state defence company Rosoboronexport has imported microchips, thermal vision devices and spare parts like a gas turbine engine from a variety of countries ranging from China to Serbia and Myanmar since 2022.
Dual-use items could also be a way for China to quietly increase its assistance to Moscow, Politico notes.
CNN reported yesterday that Ukraine’s military had downed a Chinese UAV Mugin-5 in the Donetsk region. Mugin Limited confirmed to CNN that it was their airframe, calling the incident “deeply unfortunate.” “We do not condone the usage. We are trying our best to stop it,” a spokesperson for Mugin Limited told CNN.
CNN and The Wall Street Journal sources familiar with the US intelligence data previously reported that China was considering supplying drones and ammunition to Russia for use in the Ukraine War.
Russia was negotiating a serial drone production deal with the Chinese manufacturer of drones Xi’an Bingo Intelligent Aviation Technology in late February this year, Der Spiegel reported. It was reported that the company had agreed to test and provide Russia’s Defence Ministry with 100 ZT-180 drones by April.


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Tesla has been forced to extend wait times for new models in Germany after the company announced a series of price cuts across its range.
Prices of the entry-level Model Y were slashed by some 17 per cent last week, while prices of the Long Range and Performance variants were cut by 4 per cent and 1 per cent respectively. After these cuts, Tesla has revealed that the delivery window for base models is now between February-March while it was previously January-March.
Expected deliveries of the Long Range and Performance versions remain in the January-March period.
Read: Tesla Slashes Up To $13k Off Prices In U.S. And Europe To Counter Sales Slowdown
While speaking about the issue during a podium discussion arranged by the German union IG Metall, Brandenburg’s Economy Minister Joerg Steinbach said that the electric automaker should accelerate production to cut customer waiting times. Output “has to grow up a bit more,” he said.
Auto News Europe reports that Tesla’s Germany factory is adding between 200 and 300 people each week to its workforce. This comes despite Steinbach revealing that a number of other companies in the region are struggling to find talent.
Tesla has cut prices in many of its most important markets, including China, Europe, and North America. Price cuts have been particularly dramatic in the U.S., so much so that the entry-level Model Y can now be picked up for $52,990 compared to the $65,990 prior to the cuts. This also puts the SUV under the $55,000 tax credit cap, meaning it is eligible for a discount of $7,500. It’s hardly a surprise then that orders have spiked.


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The increased likelihood of the El Niño weather pattern could see emerging markets – including South Africa – face stagflationary risks and higher food prices as soon as this year.
This is according to Schroders senior emerging markets economist David Rees, who defined El Niño as a periodic weather pattern typically observed every two to seven years, where a warming of sea waters in the Pacific Ocean disrupts the climate.
El Niño can disrupt weather patterns and, therefore, significantly impact food prices.
Rees said El Niño could lead to drier conditions in some areas of Latin America, Australia, India, and Southern Africa while bringing heavier rainfall to other regions. In both circumstances, food prices could be affected in several ways.
Firstly, low rainfall can cause the water levels of the Panama Canal to fall, resulting in ships carrying lighter loads to avoid grounding. This logistical challenge may cause inflationary pressures and disturb supply chains.
El Niño is also expected to impact the supply side of the global commodities market.
“There are already reports of heavy rain disrupting copper mining in Chile. However, in Asia, drier weather and shorter monsoon seasons can be positive for the extraction of other metals and ores such as bauxite, nickel and tin,” he said.
“South Africa is already experiencing some extreme weather conditions, and the onset of El Niño is likely to exacerbate these issues in the months ahead, with higher winter rainfall giving way to a hotter and drier summer.”
This shift in weather conditions is also likely to affect the local and global supply of food, which could push prices significantly higher.
“While leading indicators imply that food inflation in South Africa should still fall significantly in the near term, the effects of El Niño could cause it to rebound in 2024, leaving the South African Reserve Bank with less room to lower interest rates.”
According to Rees, while the relationship between El Niño and global food prices is multifaceted, a stronger El Niño event could potentially lead to a significant increase in food prices, especially if energy prices remain stable.
This scenario could push average emerging market food inflation into double digits during 2024, limiting central banks’ ability to lower interest rates and fueling stagflationary risks.
Rees said the impact of El Niño will be felt unevenly across different economies.
“Higher food prices and shortages of goods can have a devastating impact on poorer emerging markets and even trigger social unrest,” he said.
“Meanwhile, those EM economies that are major net exporters of food can suffer from a loss of export revenues if production losses are worse than any price increases.”


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The campaign will run across television, OTT and digital for the next few weeks. A fair amount of influencer led activities have also been planned.
Manu Sharma, group vice president, Reliance Brands, said, "Reimagining the iconic 'DICE' has been one of the most exciting projects that we have been associated with. Nothing makes us more proud that from the idea of DiiCii being conceptualised in India to being manufactured locally, it will now be available across international markets, making it one of our largest 'Make in India' initiatives to go global."
Krishan Jagota, product design lead, Sideways, said, “Our design approach is to take the disruptive route and add novel play patterns over classics that stood the test of time. The Diicii ecosystem reimagines the function of a dice for the 21st century, while keeping it inclusive, simple and fun. It acts as a platform to nudge a child’s creativity. The randomised illumination has the potential to create thousands of play patterns and new games. We encourage customers to create their own games and share with the community.”
Nalin Avasthi, technology lead, Sideways, said, "While developing Diicii’s electronics, the challenges we faced were two pronged — we had to scale the electronics down while optimising for a long battery life. Over several prototypes, refinements and countless test rolls, we indeed managed to do both and we’re indeed proud of that.”


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Cloud security provider Qualys wants to raise up to $100 million in an initial public offering of its common stock.
The company provides a cloud computing based platform for companies to secure its IT infrastructure and is backed by chief executive Philippe Courtot, who owns about 40 percent of the company. Venture capital firm Trident Capital has a 27.4 percent stake.
The company has 5,700 organizations in 100 countries on its books and earned $21.2 million for the quarter ended March 31. This is a little more reasonable than the Facebook IPO, which means that the social notworking company was more of an abnormality rather than a trend towards over priced technology companies.
Qualys did not tell Reuters how many shares it will sell or their expected price.
The outfit is one of the new generation of companies which have been formed to make cash on the rise of the cloud.
While many companes who have been talking about the Cloud are the usual suspects, such as IBM, Oracle, HP and Microsoft, there have been a growing number of smaller speciality companies coming to the fore.


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STATE HOUSE NEWS SERVICE
FISCAL YEAR 2022 was another record-setting one for the Massachusetts Lottery with all-time highs for total revenue, prizes paid out, and commissions or bonuses paid to retailers, but the agency came up just short of topping its profit record, officials said Tuesday morning.
Estimates for the fiscal year that ended June 30 show the Lottery took in a record $5.86 billion in revenue and paid a record $4.309 billion of that money back out to players. But Interim Executive Director Mark William Bracken said the Lottery expects it will turn over $1.102 billion in net profit for the Legislature to use as local aid — that’s $10 million less than the record $1.112 billion profit turned in fiscal year 2021.
“The efforts of our retail partners and our team members, with the guidance and support of Treasurer Goldberg and our Commissioners, contributed to another banner year even as the pandemic continued to pose challenges,” Bracken said. “We are especially grateful for our customers, who were rewarded with a record amount of prize winnings.”
The fiscal 2022 numbers will still need to be audited, but Bracken said he does not expect them to change substantially by the time the audit is completed in September. Bracken said the Lottery surpassed its revenue record (previously $5.828 billion set in fiscal 2021) by approximately $32 million, handed out $335 million in commissions and bonuses (besting the $333.3 million record set in fiscal 2021), and set a new record high for Keno sales ($1.217 billion compared to fiscal 2021’s $1.057 billion). The Lottery’s administrative costs were two percent of overall revenue.
“Overall, you’ll see our instant ticket sales were down over $120 million for the fiscal year, our Mega Millions sales were down $38 million, that was somewhat canceled out by our Powerball sales being up $33 million. Our big winner of the year was Keno, being up $160 million, almost $161 [million],” Bracken said.
The Lottery paid out a slightly higher percentage of its revenue as prizes in fiscal 2022 (73.53 percent) than it did in fiscal 2021 (73.49 percent). Lottery players won 196 prizes of $1 million or more in fiscal year 2022, including 29 prizes valued at $2 million or more.
Treasurer Deborah Goldberg, who oversees the Lottery and chairs the Lottery Commission, noted that “as the Lottery celebrates its 50th anniversary, we continue to set records and generate valuable resources for every community in the state.”
Since the first ticket was sold in 1972, the Lottery has generated more than $143 billion in revenue, returned more than $31 billion in profit for the state to use as unrestricted local aid, paid out more than $100 billion in prizes, and has paid more than $8 billion in commissions and bonuses to its statewide network of retailers.
Goldberg and the Lottery have been attempting for years to secure legislative authority to sell Lottery products online, arguing that the Lottery’s profits are not sustainable without the ability to compete with various online gaming options for younger players. Complicating that argument — as the latest attempt to authorize online Lottery sales moves into conference committee talks — is the fact that the Lottery continues to post strong and record-setting financials even without the ability to sell products online.
The Lottery launched a mobile cashing feature on its app in September, allowing players to check if their tickets are winners and, if they are, remotely claim prizes between $601 and $5,000 that otherwise would have needed to be claimed at a Lottery office. Between September and June 30, the Lottery processed 23,612 transactions totaling $30.8 million on the app, which officials said saved customers more than $200,000 in gasoline costs by eliminating vehicle trips to Lottery claim centers.
Bracken also told the Lottery Commission on Tuesday that, despite a $5 million decrease in sales last month, the Lottery turned an estimated profit of $65.8 million for June.


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Lyft Inc. is one of the most famous unicorns slated to go public in 2019. The ride-hailing company will begin trading on the Nasdaq on Friday under the symbol "LYFT." It plans to sell 30.7 million Class A shares, and on Wednesday increased its IPO price range to between $70 and $72 from between $62 and $68. At the upper end of the spectrum, this would mean a valuation of over $24 billion.
Like many of its peers, Lyft is adopting a dual-class structure with each Class A share entitled to one vote and each Class B share entitled to 20 votes. Logan Green and John Zimmer, the company's founders, will own all of the Class B stock and have 49% of voting power.
The IPO was reportedly oversubscribed on the second day of the investor roadshow. However, while Lyft bulls see massive growth potential for the capital-light company in a rapidly evolving $1.2 trillion U.S. transportation market, the firm still faces major issues, per a recent Barron’s report. At the forefront of its woes include mounting losses, which surged by more than 32% year-over-year (YOY) to $911 million for full year 2018. This has raised questions regarding whether the Silicon Valley-based firm can post a profit in the long-term.
Second, on the competitive front, Lyft is challenged with making money as the number two ride hailing company behind global market leader Uber Technologies Inc. Additionally, the firm faces regulatory concerns in largely uncharted territory, making it a risker play. Others are concerned about the fact that control will remain with Lyft’s two co-founders, and lastly, some say that Lyft’s IPO filing omits details necessary for investors and analysts to create a financial model for the company.
Collision Course: 6 Pitfalls Facing Lyft Investors
- Widening losses increased to $911 million
- Competition against market leader Uber
- Regulatory concerns
- Control will remain with co-founders
- IPO filing insufficient to create financial model
Source: Barron’s, Bloomberg
Famed LUPA Companies Gear Up for IPOs
Lyft is part of a group of four stock nicknamed “LUPA,” comprised of companies that were born into the mobile app generate and have become a vital part of today’s consumer economy. Lyft, its main rival Uber, travel industry disruptor Airbnb, and web-based photo bulletin board Pinterest, have all either filed to go public, or have been rumored to be considering an IPO in the near future.
Critics of the 2019 unicorn IPOs focus on the fact that many of the companies slated for the public markets are still operating in the red. Meanwhile bears suggest that their business models don’t look sustainable in the long-term.
As for Lyft in particular, competing against Uber at home and in international markets, where Uber is the clear market leader, is a unique challenge. Both companies remain at the mercy of regulators, who threaten business in major hubs like New York. Barron’s adds that Lyft CEO Logan Green, and President John Zimmer, both co-founders in their 30s, will hold a combined 49% of the vote following a conversion of their Class A shares into super-voting Class B stock with 20 votes each. Meanwhile, their economic stake in Lyft will stand at about 5%. This scenario would make it hard to oust management.
Others remain concerned over lack of financial clarity.
"It’s never good when companies decide to not be straightforward about the math of their business, and these guys told us almost nothing you need to build a model,” said Rett Wallace, CEO of Triton Research Inc, per Bloomberg. “I would suspect, given the incentive structure, that Lyft had many, many M&A conversations with buyers that would have been able to see the detailed numbers.”
Wallace added that, “one could speculate that the lack of success in those conversations might have impacted the company’s willingness to disclose more detailed numbers to its backup buyers in the public market.”
Risks aside, the prospects for Lyft remain robust. Revenue skyrocketed to $2.2 billion in 2018 from $343 million in 2018, with the firm stealing another 17% of the market as of year-end, with a 39% share. The company received its first buy rating ahead of its IPO as DA Davidson initiated coverage at buy.
Management recently highlighted the fact that cars are utilized merely 5% of the time, yet cost Americans $1 trillion annually, leaving plenty of room to grow the market and capitalize on the rapidly booming gig economy. At the same time, the company is pushing into new growth markets like bike sharing, scooter rentals, and autonomous driving technology. Without showing it can turn a profit, however, many more conservative investors may want to remain on the sidelines.


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Has Digital Delivered on its Promise?
Brands want to be publishers but don’t know how. This is just one of the top five things digital media needs to fix, and Digiday will be taking a break from the office to speak with top executives about this and more during Advertising Week. In addition to bringing our confessions series live with a chat with our female confessor, we’ll be asking top agency execs whether digital has truly delivered on its promise. A full outline of the events we’ll be moderating can be found below.
View from the Corner Office (Monday, Oct. 1, 4:00 pm, NASDAQ MarketSite)
In a rapid-fire session about “Five Things Digital Media Needs to Fix,” Brian Morrissey will discuss the digital revolution with top industry CEOs. Speakers include: Yin Rani, president N.A of UM; Don Coleman, chairman & CEO of Global Hue; Mike Lescarbeau, president & CEO of Carmichael Lynch; Lori Senecal, chairman and CEO of kbs+, Duff Stewart, president and CEO of GSD&M; and Tim Spengler, worldwide CEO of Magna Global.
The Digital Transformation of News (Tuesday, Oct. 2, 11:15 a.m., Lincoln Center)
Today’s consumers digest news across multiple platforms, with mobile consumption quickly overtaking Web. Brian Morrissey will discuss with David Payne, svp and chief digital officer at Gannett, the audience shift to connected devices and how USA Today and parent company, Gannett, are leading the way in this transition.
Creative Storytelling with Data (October 2, 4:00 p.m., Hearst Tower)
Jack Marshall will moderate this session, exploring how marketers can both leverage data and deliver memorable creative to tell more engaging and effective brand stories. Speakers include Kristine Welker, CRO of Hearst Digital Media; Pat Stern, CCO of iCrossing; Seth Barron, advertising program manager of The Zoo at Google; Adam Lavelle, CEO of Core Audience; and Clay Fisher, head of online and mobile acquisition of DirecTV.
Confessions of a Female Ad Exec (Wednesday, Oct. 3, 10:00 a.m., NASDAQ MarketSite)
Digiday’s editor-in-chief, Brian Morrissey, will bring Digiday’s confession series to life, with Colleen DeCourcy, CEO of Socialistic, who will explore the issue of gender diversity in the ad industry.
The Sharing Economy (Wednesday, Oct. 3, 6:00 p.m., Liberty Theater)
The advertising and media ecosystem is now driven by sharing. Digiday’s Jack Marshall will speak with some of those influencing the pace of change. Speakers include Elizabeth Harz, vp of Chegg; Drew Buckley, COO of Electus; Matt Mill, global head of sales for Aurasma; Scott Nelson, svp marketing for OurStage; Tom O’Regan, president of Martini Media; and Sasha Savic, CEO of MediaCom USA.
Will Digital Deliver on its Promise? (Thursday, Oct. 4, 1:00 p.m., Nederlander Theatre)
Digital is playing an increasingly dominant role in the lives and purchase decisions of consumers, yet advertising’s success with digital marketing initiatives has been decidedly mixed. Join Digiday’s Brian Morrissey for a conversation with Aaron Shapiro, CEO of Huge, and Chet Gulland, head of digital strategy at Droga5, about the highs and lows of digital marketing.
A Conversation with Coca-Cola: The Liquid & Linked Mobilization of the Olympics (Thursday, Oct. 4, 1:30 p.m., W Union Square)
Join Digiday’s Giselle Abramovich in a discussion with Kim Stiller, Coca Cola’s head of mobile brand strategy, about the beverage brand’s strategy during the Olympics.
With Canva and Adobe’s new updates, the generative AI race enters the brand design space
Canva and Adobe are just two of several major design and visual platforms that are rapidly introducing new generative AI capabilities in the service of brands.
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Terry Kawaja explains why he invested in Possible, the Dmexco founder’s new conference
Kawaja believes Possible will super-serve the intersection of marketing, media and tech like no other tentpole can. And he's invested his own money into it.
SponsoredHow ironSource’s hybrid mediation solution is enhancing mobile ad monetization
Produced in partnership with Marketecture The following article highlights an interview between Nimrod Zuta, ironSource’s senior vice president of product, and Eric Seufert, general partner at Heracles Capital. Register to watch more of the discussion and learn how advertisers are leveraging hybrid mediation solutions to fuel more effective ad monetization. Advertisers are facing a particular […]
Execs are ignoring the dangers of ‘confidently incorrect’ AI and why it’s a massive problem
That means significant risks are emerging as companies rapidly race to re-orient themselves around ChatGPT without being aware of – or ignoring – the numerous pitfalls.
Why Chips Ahoy’s linear TV budget is crumbling in the face of new digital options
To keep up with Gen Z shoppers, Mondelēz-owned brand Chips Ahoy! is all but waving bon voyage to its linear television advertising budget in favor of digital advertising.


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Scooter rental startup Bounce has laid off around 20% of its 600-strong workforce this week in a bid to cut costs and preserve capital, according to four people aware of the development. Most of these people were from mid and senior-level with high pay packages, added the people cited above.
This comes at a time when businesses have been hit hard due to the ongoing Covid-19 pandemic, prompting startups to work towards saving resources and expand their runway.
The Bengaluru-based company has let go of around 120 employees primarily from an internal project called ‘New Initiatives’ and customer support. Of these, 100 are senior to mid-level employees. All of them have been asked to leave with three months severance. A major portion of these employees were looking after experiments including bike taxi, car-pooling and kirana stores initiative
“Bounce was internally working on carpooling and bike taxi services,” said one of the sources cited above, requesting anonymity. “With this layoff, the company is likely to put a brake on such experiments.”
Under the ‘kirana stores’ initiative, the company was partnering with small retailers to use their locations as designated pick-up and drop points.
“It’s not clear whether Bounce will scrap this completely or not,” added the second person cited above, requesting anonymity.
Bounce CEO Vivekananda Hallekere, however, denied any such development.
“We have let go of about four people in product and tech and about 20- 30 over the last few days in customer care,” he said. “New initiatives team is handled by the CEO’s office and is intact. We work with contract folks and we let go of those contract engineers as and when the project is done. We usually replace them with internal folks.”
The company also confirmed that it has given insurance cover to impacted employees and helping them with outplacement.
It’s worth noting that Bounce has been cutting costs since early January. To ramp up revenue and bring accountability amongst users, it had increased security deposit by 3X and charged a higher cost per kilometer travelled from users. The company has brought down monthly burn in the range of $5 million from $7 million.
The company, founded by Hallekere, Varun Agni and Anil G, raised $105 million in January from a clutch of investors including Accel and B Capital. The bike-sharing company has grown fairly quickly over the last one year and has also managed to have a strong cap table with a clutch of marquee investors on it.
It has also hired aggressively as it was looking to grow fast and achieve scale. Bounce is also known to be one of the startups in the country that pays high packages to senior level employees to attract the best talent from other more established startups.
Bounce competes with another scooter-sharing startup Vogo, which has been funded by the likes of Ola and Stellaris Venture Partners, among others. Vogo had also laid off about 15% of its workforce across hardware and product teams.
Update: We have updated the story to carry the company’s comments that include 3 months severance given to laid-off employees, insurance and help in outplacement.


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CRN brought together a group of leading resellers to discuss whether or not we have finally reached the end-game in the PC market, and if it is now inevitable that major vendors will all sell direct to their biggest customers and anyone else who wants to buy direct, leaving the channel with small reward.
For some time now there has been practically no margin in the provision of desktop and mobile PCs and even servers. With prices and margins still coming down, and vendors under extreme pressure to maintain market share, is it time to accept that we should just take the cheapest route to delivering the boxes and make our money from services?
Is it time, with so few vendors left in the market and Dell’s market share continuing to increase, to accept that hardware vendors must simply take the orders and whatever margin is left in systems sales, and find new ways to recognise reseller advocacy for their products? Wouldn’t this, in the long run, be better for everyone, including the customer?
If this is not the way forward, what is? How can we help vendors to find the right approach? What do we need them to do? CRN brought together members of its Reseller Council to discuss this issue in depth.
While acknowledging that it is hard to make money out of PCs now, Gordon Davies, sales director at VAR Compusys, does not believe it is time to give up on the boxes completely and simply accept that whatever fulfillment model users want and vendors choose to adopt.
“We don’t think it’s time to give up. We have re-engineered our business to provide a broader level of services and to do what we call ‘selling glue’. We’ve been investing in that for three years now, and it’s really paying off for us. Going to a fulfillment model just makes no sense. If anything, we see profit coming back,” Davies said.
How will this happen with prices being so low? The answer, said Davies, is that the PC simply provides the touch-point with the customer. It is not the solution in itself.
“As long as that touch-point is a good experience there is a whole raft of other stuff you can do if you are flexible and good enough. You just have to understand what the customer wants to achieve, then deliver it. It is that simple: do that and you’ll make a profit,” he added.
Paul Barlow, who was managing director at VAR Equanet when the council met, and is now group sales director at PC World Business PCWB, following the buyout of Equanet by PCWB (CRN, 23 January), referred to a recent IDC report that showed low prices are not the strongest driver for customers. They expect a competitive price, but they want a decent level of service and more importantly, a relationship. “How can vendors have that relationship on the street as we do?” he asked.
Robert May, managing director at Ramsac, said that his firm has looked at pulling out of hardware completely and just selling services several times, but as yet, it always continued to sell the products. “Clients want to get the entire solution from us,” May said.
According to Davies, there has been a profit-shift. And while the mix of what the reseller charges the customer for has changed, the actual margin has declined much less.
“We are making roughly the same margin but on a smaller sell-out cost and an average selling price. The profit has moved from the box to the services you can bundle around it,” he said.
Customers will buy those services from resellers that they trust, said Davies. Resellers have had to invest in improving their skills to meet this need, but the demand is there because IT departments will often not have the means to deliver the desired end result.
“We are selling more services around the kit. Two years ago we would not have charged for the project management of a sale, but we do now,” he said.
This element of the reseller’s service is often overlooked, and it is something vendors can’t do at all well, according to Barlow.
“If you want a vendor to ship 1,000 units in two month’s time, that’s no problem. But to do a roll-out over a three-month period, of 20 PCs a week with an image on them, and it never works – we take the pain away from the vendors,” he said.
Why then, have we all been so concerned about Dell? We shouldn’t be, Davies contended.
“Dell continues to grow faster than the market, and you would be stupid not to be concerned about that or the underlying factors that allow it to do that. Once you start looking at that, you see some of the inequities there are in the market and you start addressing them,” he said.
While certainly worthy of our attention, Davies said that the direct model Dell uses is not all that great when you start to dismantle it and address it in a sensible way.
We should not, for example, take Dell or other direct vendors to customers as they will simply take over the account. Davies and other Council members hinted that this had been done too much by some major resellers which are now paying the price.
Another reason we should continue to be wary of Dell, said Tony Davis, managing director at Elcom IT, is that it is shaking the confidence of vendors which have, up to now, been channel-focused. However, the rumours that Dell will start a major reseller recruitment drive in the UK before the end of 2005, did not come to fruition.
Some council members admitted that they have already sold Dell kit themselves. One member of the panel asked: “If Dell had a channel programme today how many of us would sign up? I would.” The argument here is if there is demand for the product, resellers need to meet that demand. Other council members said they would not consider being part of a Dell channel.
Selway Moore is a Hewlett-Packard (HP)-only reseller, so it would certainly be among the latter. Phil Reakes, managing director at the company, said that channel-friendly vendors had contributed to some degree to the noise that has been made around Dell.
“We live or die by HP, and we have direct experience. HP has helped to create a lot of the increased competition that a lot of us fear. We are a mid-market reseller, and HP had a clear objective to go direct into its bigger accounts. It actually worked directly with SCC and Computacenter to push them down-market into the mid-market space. HP helped to create that problem because it was running scared of Dell.”
Simon Aron, managing director at Eurodata, agreed that Dell has triggered off reactions from other vendors that were causing greater competition for resellers. But he added that Dell had also managed to turn the tables to some degree on its rivals by bringing services business to the channel. Aron added that Eurodata has won several contracts to service Dell-populated desktop estates in large firms. “Dell recognises us as a triple Gold Microsoft partner. Dell don’t have the resources to handle the services side, but still need to fulfill this need in the market,” he said.
Eurodata is about one of 20 Microsoft partners in the UK that Dell calls in to provide specialist consultancy. Maintenance and support for areas such as storage are provided by specialist third parties such as Getronics and Unisys. Other council members pointed out this is all well and good for the resellers that get the business, until Dell buys a services company, as is predicted by some observers.
But Aron is not so sure that Dell will do this. “Dell tried a few years ago, and it couldn’t find anyone big enough. If you look at the market now, even though it’s consolidated, Dell will still find it difficult. It’s a fundamental problem that Dell has and it does realise at the upper echelons that it is a manufacturer. Dell knows what it is good at and not good at,” he said.
Aron added that the services that are developed around a PC or laptop are only available for a short period of time, and most of those processes – even maintenance – are automated, or are being automated by customers. Rather than buying comprehensive maintenance contracts, corporate customers are simply getting rid of faulty systems now. Eurodata’s strategy is to focus on processes that are not desktop-related.
“The more I can get away from hardware-related services the better. That is what we are working towards,” Aron said.
Compusys’ Davies said his company, is no different. Even though it is not yet ready to give up hardware sales, it has been making that play for three years or more now.
“The fact is every year when we look at doing our budgets, hardware has been returning a profit. We have just done our biggest server deal ever,” Davies said.
Even so, other parts of the business make much more money for resellers. Davies said being a Microsoft Gold partner had helped the company tremendously. It generated well over £1m worth of business for Compusys in the past year, close to half of which is profit, he told the council.
However, the hardware still has to be there. While members of the council seem to be happy and making money from servers, the PCs and laptops are harder work, Aron said. Sales people can make good commissions on selling consultancy, but virtually nothing on hardware. The drive to sell the boxes therefore is removed. The problem, Elcom’s Davis pointed out, is it is very difficult to make the switch and replace the millions generated in hardware revenues with services. “If you do that how can you support 100 staff? All you can do is work towards it,” he said.
Whether you can make a return on it or not, the hardware is often simply the door-opener, according to Barlow.
“The relationship is then there to introduce the other services. The communication between the two companies gets going because we provide the hardware,” he said. “We are able to test ideas such as mobility, security, storage solutions and there is credibility, because we already have a reputation with that customer.”
Once the case is proven, the trick can often be repeated and generate some profitable hardware sales, which effectively closes the loop for the reseller. One reseller on the council has recently won business with public services right across the UK with a replicated solution that needed a lot of storage in every installation.
“It was a hardware-based problem which we were able to fix. We’ve run that out across the country and it has made us lots of revenue. It has managed to solve our customer’s problems and do things they have never been able to do before,” said the reseller.
Too many vendors have been distracted by Dell, Barlow said. According to Reakes, others including HP, have put clear demarcation lines in for the channel for the first time. This has, at least, made the competitive situation clearer. But other members were less happy. One claimed that they had lost a customer to HP, which had gone direct direct. And the reason: “We had to go in direct because we were competing against Dell,” HP had allegedly told the VAR.
Another member said they’d had similar experiences in competitive situations and there is uncertainty among the council members that direct sales are being properly policed by some vendors.
Reakes said he thinks HP is at least trying to police its selling activities now, but that it may still be in a period of transition. “But I do believe that the tide is turning. I have seen at least three deals recently of unaccredited resellers competing for business and HP going to the customer and saying: ‘Look, we will not allow you to buy from these people,’” Reakes said.
Other resellers were eager to see evidence of this happening with deals they are involved in. One suspected that they would do it only with high-value products such as blades and storage (which Reakes said the deals were for) where the accreditation will really matter, but not for low-ticket items such as PCs.
While some of the channel-focused vendors scratch their heads about what to do, Dell has been starting to take some opportunities to get the channel on side. One reseller said that while Dell will play along and not sell to established customers of the reseller, it will often compete direct for new business. Another reseller, asked if other council members had noticed an improvement in the service Dell provides, as he had. Members thought that Dell has been trying to give resellers shorter lead times and better response on support calls. This may simply because Dell is bringing in the right kind of help rather than actively courting resellers. Even so, if it is doing a better job, this does not bode well for other vendors.
Kate Hembury, sales director at WStore, agreed that vendors are often focused on the wrong things. Even those that do support the channel do not provide the right type of support a lot of the time. They are very focused on their programmes and processes and are not able to help resellers with business and sales advice, which is something many of them probably need, she said.
Whoever the vendor is and whatever tactics they decide to employ makes little difference to the reseller in the end, Davis noted.
“You need to look at why people might want to use a reseller. Neither HP nor Dell manage the customer experience well as a direct play, and the channel overcomes a lot of those shortcomings. It’s about the value that a reseller provides in this day and age. Sometimes you do feel like throwing the customer and the vendor together and saying: “Here you go, see how you get on and then come back and tell us that we are not worth four or five per cent.” I think we earn it and sometimes neither the vendors nor the customers appreciate that enough.”
Resellers, Barlow said, need to formulate a marketing plan that is strong enough to get that message across, partly because the resources are not there. VARs however, have no way to pool their resources and compete with the messages that the vendors take to market that focus on their own products and services. The vendors themselves, it seems, are unwilling to help VARs do this. At present, part of the reason is the success of the Dell model, even though this has recently started to look shaky in terms of growth.
Aron said, there are also problems, with European laws that actually make it illegal to set up a dealer network in only one country; it has to go across the European Commission. Vendors such as HP cannot run individual in-country campaigns to promote, for example, UK resellers that focus on the public sector. Channel managers have in-country control, but central European operations stymie any initiative to promote resellers. Other board members were more skeptical and felt that it has more to do with vendors being unwilling to spend money driving business to anyone’s door but their own.
Whatever the reason, resellers perhaps may need to make a collective commitment to promoting themselves. Barlow asked other council members if they would be prepared to make that commitment. “I would, because I think it has been a long time coming. Why can’t we?” said Barlow. It was, added Compusys’ Davies, just a question of will. The desire perhaps is growing among resellers.
Compusys (01296) 505100
Elcom IT (01753) 442500
Equanet (020) 8974 2321
Eurodata (020) 7619 1500
Ramsac (0870) 756 9001
Selway Moore (0118) 903 7900
WStore (08700) 113310
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It should be the time to eat, drink and be merry.
But for some battling to put food on their table, this Christmas will be the toughest time of the year.
With unemployment and benefits cuts hitting hard, the sad reality is not everyone will be welcoming in the festive period as they struggle for a basic meal.
As many celebrate around them, Christmas has the potential to be the breaking point for those finding it hard to make ends meet.
That’s why we are calling on you to help.
Two years ago, we launched a Christmas campaign, asking our readers to buy an extra item of food when shopping to give to those in need.
Now we aim to do it again – at a time when donations are needed more than ever.
Statistics from the Portsmouth Citizens Advice Bureau shows people using the city’s food bank this year has risen 61 per cent from 2012.
For the first 10 months of 2013, just under 5,000 were helped to get food.
As CAB chief executive Lynne Davies says, it’s a staggering number, with Portsmouth one of the most in-demand food banks in the country.
Here’s how you can play a part to help.
Next time you are out shopping, all we ask is that you buy an extra item of food and then drop it into a special News trolley on your way out.
The full list of participating supermarkets – along with a recommended food list – is featured on page 5 today.
We will then gather up all our your donations and distribute them to food banks and churches across our area to help those who need it most.
It’s a small gesture but one that can go a long way to making a difference for those who could otherwise have a cold and lonely winter.
You’ll hear plenty of times over the next few weeks that this time of year is all about giving.
We hope you can spare whatever you can and evoke the true spirit of Christmas by letting those less fortunate know you care.


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Nintendo is announcing the system's worldwide release information in a series of press conferences. Japan has already had their fill earlier today, and now it's the turn of Europe and North America.
Rumours suggest a price point of around £230 and a November or December release. We'll be liveblogging the European conference here, as well as providing details of what happens Stateside too.
> Digital Spy's ongoing coverage of the Wii U
Join us for the live blog in 30 minutes, or at 3pm BST / 9pm EST / 7am PST.


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The Albany Fall Craft Beer Festival will be held 4 to 8 p.m. Saturday, Nov. 5, at the Washington Avenue Armory in Albany. The debut event drew 1,200 attendees and was sold out. The fall festival will focus on winter beer, including a Dark Room featuring stouts, porters and more. Food by local restaurants including the Bayou Café, Dinosaur Bar-B-Que and Mach’s Brick Oven Pizza.
Tickets are $35 in advance, $40 at the door, if available. Tickets for designated drivers cost $5 and include free soft drinks.


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It’s headlined The Dirty Little Secret of Credit Card Rewards Programs, by Chenzi Xu and
The vast majority of merchants pass these costs on to consumers by charging more for their products — regardless of how one pays.
The result? Lower-income consumers are forced to pay higher prices on the goods they buy, but they rarely receive any benefit from rewards programs, according to the Federal Reserve, which has been tracking the distributional effects of card rewards. Its December 2022 report estimates an annual redistribution of $15 billion in rewards value from poorer people to richer people, from low-education people to highly educated people and from diverse communities to less diverse communities.
Put another way, credit card rewards are essentially a tax on less affluent consumers, who are much more likely to pay for their goods with cash, debit cards or standard credit products that accrue no such rewards.


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See on Scoop.it - La Gazzetta Di Lella - News From Italy - Italiaans Nieuws
President of Italy praises Ferrero, who he says was ‘always ahead of his time’Michele Ferrero, the world’s richest confectionery maker whose Nutella chocolate and hazelnut spread helped raise generations of Italians and define Italian sweets, has died, officials said. He was 89.Sergio Mattarella, Italy’s president, praised Ferrero as one of the protagonists of Italian industry, “always ahead of his time thanks to innovative products and his tenacious and reserved work”.
See on theguardian.com
via Tumblr http://bit.ly/1zVEejZ


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We all know the future of the industry is clearly in streaming services, more than us the same Microsoft who has been working hard for some time to bring Xbox Game Pass to as many places as possible.
It is with this objective in mind that recently some clues have been unearthed by 9to5Google which indicate that New Xbox Game Pass update on Google Play Store adds basic but official support to Android TV
Are Xbox Cloud Gaming and Xbox Game Pass compatible with Android TV?
Everything points to a resounding yes, but don’t get carried away so quickly, because Microsoft itself has not commented on this finding. Th is is not a special app, it is actually the same app that can be downloaded on Android phones, however, it now appears to have a launcher from the main screen on Android TV devices, indicating the catch in charge of the screens operating system.
The same site has done some quick tests to verify operation and it says that the navigation is a bit slow and the interface has not changed
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Salesforce has named former eBay CEO Devin Wenig to its Global Advisory Board to expand international growth. The board will provide strategic guidance and support the company’s growth into new markets, “deepening Salesforce’s role as a trusted digital advisor to CEOs and leaders around the world.”
Salesforce explained in Thursday’ announcement:
“Salesforce announced an EMEA Advisory Board, chaired by President and Chief Strategy Officer Alex Dayon, to support the company’s expansion strategy in Europe, Middle East and Africa (EMEA).
“Now, the Global Advisory Board spans The Americas and EMEA to bring together some of the most accomplished business leaders from across industries to offer proven leadership, expertise, and a unique understanding of the transformational potential of Salesforce. They will provide strategic guidance and help increase business value to our customers globally.”
According to Wenig’s bio on Salesforce.com’s website, since his departure from eBay in 2019, he founded and is a principal of the Norse Charitable Trust and continues to serve on the board of directors of General Motors (GM) and Cruise Automation.
Other new members of the Global Advisory Board named today include former executives of companies including Aetna, Hudson’s Bay, The Dow Chemical Company, Gap, and TikTok.
Alex Dayon, President and Chief Strategy Officer, Chairman of the Advisory Board, Salesforce, was quoted in the announcement: “Overnight, digital became priority #1 for every company. Our customers are looking for trusted advisors to help digitally transform and deliver exceptional customer experiences. This Global Advisory Board will be instrumental in our ability to accelerate our customers’ success from anywhere.”


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Adobe, known around the world as a provider of various content creation tools, will continue to actively expand the functionality of its software and gradually increase its potential. Especially a big stake is placed on the Photoshop photo editor, which has been on the market for more than 30 years, since the release of its first version happened in 1990, when only a few personal computers could afford, because then they cost a fortune. Almost every year since then, developers have released new versions of this graphics editor, adding new functions and capabilities to it, and at the same time improving the old ones.
As everyone probably understands and realizes, it is impossible to improve the quality of a photo by increasing its resolution, because in this case, the clarity will disappear, and the details will become blurred. You can only lower the quality, but not raise it in any way. Nevertheless, modern technology has made such a procedure possible, and Adobe has been able to prove it. The graphics editor Photoshop for working with photos and images has been updated to a new version, which added the function of stretching without loss of quality. It allows you to increase the quality of a photo by four times, that is, you can make a high one from an initially low resolution without losing quality.
The new feature is called Super Resolution, and it is available in a plug-in called Adobe Camera Raw (ACR), which is available to all Photoshop users. The newly launched feature works very well, quadrupling the quality of photos. In fact, it allows you to turn any low-quality image into a high-quality one, and this is done by artificial intelligence, supplemented by a neural network. All images processed using the “Super Resolution” function contain a minimum amount of artifacts, have clear contours and details, as well as a high degree of detail for all objects. The new technology, developed by Adobe, is based on a dedicated model of advanced machine learning.
To make the new opportunity work very well, the company had to train it on millions of photographs of a wide variety of objects. From a 12 megapixel image, you can get a 48 megapixel photo, thereby increasing the original resolution by four times. Super Resolution is currently available for all Photoshop users through the Camera Raw (ACR) plug-in, but it contains one important limitation. You cannot increase the resolution of any picture more than four times, and the maximum should not exceed 500 megapixels. Currently, according to independent experts from the PetaPixel resource, this function of improving the quality of photos without degrading the quality is the best on the market.


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Is Apple releasing a new iPhone in 2020?
According to JPMorgan analyst Samik Chatterjee, Apple will release four new iPhone 12 models in the fall of 2020: a 5.4-inch model, two 6.1-inch phones and a 6.7-inch phone. So the 5.4-inch and one of the 6.1-inch models will be the lower-end devices, presumably called the iPhone 12.
What will Apple release in 2020?
Apple Event October 13, 2020 Introducing iPhone 12 and iPhone 12 Pro with 5G, MagSafe accessories, and HomePod mini.
Is iPhone 12 out?
Pre-orders for iPhone 12 Pro begin Friday, October 16, with availability beginning Friday, October 23. iPhone 12 Pro Max will be available for pre-order Friday, November 6, and in stores beginning Friday, November 13.
Will iPhone prices drop in 2020?
The iPhone 8 Plus and iPhone 8 originally started at $650 and $550 but then dropped to $550 and $450, respectively. With the iPhone 12 mini and iPhone 12 Pro Max, Apple now has a lineup of eight iPhones at a broad range of price points starting at $399 for the 2020 iPhone SE.
What will be in the iPhone 12?
At a Glance. The iPhone 12 and iPhone 12 mini are Apple’s mainstream flagship iPhones for 2020. The phones come in 6.1-inch and 5.4-inch sizes with identical features, including support for faster 5G cellular networks, OLED displays, improved cameras, and Apple’s latest A14 chip, all in a completely refreshed design.
How much will the iPhone 12 5G cost?
You can configure it with 64GB, 128GB, and 256GB of internal storage for $799, $849, and $999. The price moved up $50 to account for the addition of 5G and OLED display and to make space for the iPhone 12 mini at the bottom of the lineup. 5 дней назад
How do I get a free iPhone 12?
Both new and existing AT&T customers can get a free iPhone 12 when trading in an iPhone 8 or newer. You’ll just need to sign up to one of AT&T’s new Unlimited plans. AT&T’s iPhone 12 offer includes free phones for those who upgrade.
Does iPhone 12 have fingerprint?
Apple’s iPhone 12 comes with several upgrades like 5G support, a refreshed design, and a camera that’s better at taking photos in the dark. But there are several useful features found on Android phones that the iPhone still lacks. These include a fingerprint sensor and an always-on display.
What is the cheapest iPhone ever?
The iPhone SE is the most inexpensive phone Apple has ever launched, and that’s a really great thing.
How much will the iPhone 7 cost in 2020?
iPhone 7 Price and Availability iPhone 7 Price in Nigeria ranges from 89,000 Naira to 200,000 Naira, depending on your location and built-in storage.
Will the iPhone 11 price drop after iPhone 12?
Apple reduced the price of the iPhone 11 from $699 down to $599 after the company announced the new iPhone 12 series. The standard $799 iPhone 12 is a better comparison for price, as it has the same screen size as the iPhone 11.


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American Printer's mission is to be the most reliable and authoritative source of information on integrating tomorrow's technology with today's management.
Aug 12, 2010 12:00 AM
Norcross, GA-based Unisource Worldwide Inc. has added porcelainECO – an exclusive premium coated paper brand – to its product lineup. This environmentally friendly paper is Forest Stewardship Council (FSC) Chain-of-Custody certified and has a post-consumer waste (PCW) content of 10%.
Unisource has created a promotion for printers entitled the “Put It In Play, Giveaway” to market the new porcelainECO sheet. The promotion will end on September 30, 2010, and five printers will be randomly chosen as winners of a “Put It In Play, Giveaway” package – valued at $2,500 – which includes:
For more information, visit: http://www.unisourcelink.com/paper/commercialprinting/porcelaineco.asp.


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Ford today gave the first official public viewing of its production-ready, India-spec EcoSport at a Delhi mall while revealing more details of the much anticipated compact SUV. The EcoSport will be offered in four trims, eight colours and three engine options including the 1-litre EcoBoost turbocharged mill. Manual transmissions will be available in both petrol and diesel spec while the automatic gearbox will come only in the petrol variant. In fact, the diesel engine will be the same 1.5-litre unit that’s on the Fiesta.
The EcoSport will also be equipped with Sync, Ford’s voice-enabled in-car connectivity system. Developed in collaboration with Microsoft, the technology will let you operate your Bluetooth-enabled phone and USB devices via voice commands – just say the words and Sync will dial calls, read out text messages and browse and select music tracks.
The vehicle’s unveiling was part of Ford’s new EcoSport Urban Discoveries campaign that will give 100 winners, picked through an online contest, a chance to drive the urban SUV around their cities. The drive begins in May and one contestant will get to drive home an EcoSport based on the jury’s decision. More details on the contest are available on the EcoSport Urban Discoveries website.
The SUV is currently on display at the EcoSport Urban Hub, which has been set up at Select City Walk and Infinity Mall in Delhi and Mumbai respectively. The EcoSport Urban Hub is part of a 12-city road show that will be held in Bengaluru, Chandigarh, Kochi, Ludhiana, Chennai, Jaipur, Hyderabad, Ahmedabad, Pune and Kolkata in a phased manner. Visitors to the hub will get to see, touch, feel and learn more about the SUV’s features.
“The EcoSport Urban Discoveries will help us engage with and educate people about our upcoming EcoSport, and with this approach we would like to help customers take the right purchase decision,” said Vinay Piparsania, executive director of Marketing, Sales and Service at Ford India.
No questions on prices were entertainted and Ford fell short of announcing the launch date of the EcoSport though speculations point to a June 2013 roll out.
Be the first to get latest news and updates about EcoSport. Click Allow


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Guess Who's Not Coming to America?
With the dollar being not so strong against the Euro and the British Pound, among others, you'd think that foreign visitors would be flocking to the United States.
You'd be wrong.
According to statistics from the Travel Industry Association (TIA) and the U.S. Dept. of Commerce, there were two million fewer overseas visitors in 2007 than in 2000, and that's cost an estimated $137 billion loss to the U.S. economy.
Take a closer look at the stats, and you'll notice that foreign visits and spending bottomed out in 2003, an obvious post-9/11 response. Since then, the numbers have been creeping up: In 2007, nearly 24 million overseas travelers came to the United States, an increase of 5 million from the 2003 low point, but fewer than the 26 million who visited in 2000. The TIA stats maintain that, had the trend continued, 33 million should be visiting by now. Overseas visitors are spending at record levels: more than $96 million in 2007. But again, the TIA says that amount would be far greater if more overseas visitors were coming to our shores.
The cause? Sept. 11 can't be entirely blamed for the trend, the TIA says. Bad publicity about our strict entry procedures is having a chilling effect, and the United States is not doing enough to counteract the bad rap. Enter the Travel Promotion Act, which is now before Congress. It would create a $200 million annual marketing campaign to persuade overseas visitors that the United States is a great destination.
Half of the funding would come from a $10 fee that would be imposed via airline tickets on foreign visitors who can visit without obtaining a visa (the rest of the funding would come from private sources, plus a $10 million loan from the U.S. Treasury).
Not surprisingly, the bill has pitted the TIA, cruise lines, hotels, etc., against the airlines, who maintain they are already collecting enough money from passengers. (Obama, by the way, is for the bill, while McCain is not).
What do you think? Should the United States be doing more to promote travel here? Is collecting the money from foreign visitors the way to go?
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The first build will arrive in mid-December.
Leather Cover, Silicone Cover, Clear View CAse, as well as S Pen color options.
OIS on the main camera also confirmed.
The 12-core M2 Max processor adds two extra cores over its predecessor.
The OnePlus 11 is expected to be among the first phones to benefit from the extended software support.
Reservations opened up back in August, December 17 is the actual launch date.
It has a titanium unibody design and is water-resistant up to 200 meters.
The reason is the passing of Jiang Zemin - the former General Secretary of the Chinese Communist Party.
The HarmonyOS watch doubles as a charging case for a pair of true wireless buds. There is also a new kids smartwatch on the way, which has two screens.
The iQOO 11 Pro and iQOO 11 are going official in December.
The phone appears in a hands-on video, confirming the design.
The X 27 is a 27-inch gaming monitor and the E 24 is a 24-inch productivity monitor.
The phone is a Galaxy A04 variant with a new name.
It's coming on December 2 with the Dimensity 8200 SoC.
With effects of a recession deepening, Kuo believes people who can’t get an iPhone now, won’t get one later.
It’s not the first time that the two Chinese giants team up to make a car together but this time this will be a completely new brand.
Samsung's incredibly quick and comprehensive rollout continues.
It's no surprise really, given that they're theoretically part of the same generation.


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Some Ramona residents don’t like at all the plan to install 42 acres of solar panels on a neighboring property…mostly for aesthetic reasons, despite assurances, promises, and revised plans from the contractor.
Against neighborhood and planning-group opposition, the county approved the placement of solar panels on this 43-acre patch of Ramona farmland.
Posted May 28, 2013
Stories this photo appears in:
Ramona fights solar panels


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Suffolk businesses looking to hire ‘Brexit advisors’ to help explain what exactly is going on
- Credit: PA
For many Brexit is proving to be an unsolvable puzzle.
A seemingly endless riddle designed to split opinion and induce anxiety for businesses across the nation.
The one unifying theme throughout has been no one is really sure what will happen next.
In a bid to combat this, a first of its kind scheme has been launched across Suffolk to hire two Brexit business advisors to explain just what exactly is going on.
MORE: New Bernard Matthews factory ‘would create 650 new full-time jobs’Earlier this year the government revealed it would be awarding local councils extra money to help prepare for Brexit.
The Suffolk Public Sector Leaders (SPSL) group has decided to pool the money to create a joint fund.
This fund has since granted cash to Suffolk Chamber of Commerce to create the posts to support small and medium businesses.
“Individually, each of the councils would be limited in what they could achieve with this extra funding,” said Stephen Baker, chief executive of East Suffolk Council and a SPSL representative.
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“However, by pooling the money, we can really make a difference and help those most in need our support, the small businesses.
“This is another example of how the local authorities in Suffolk work together with our partners to address the problems that we face, working towards a joint goal.”
The scheme will function as a help desk of sorts – with the two new advisors offering support as well as the latest expert advice to businesses on during the extended period of Brexit uncertainty.
The pair will also take on a problem-solving approach by speaking with businesses and diagnosing barriers to their survival and growth.
They will then devise action plans to address these issues and help the firms better prepare for the new challenges.
It is hoped the positions will be filled by July, and will last for two years as businesses adapt to life outside the European Union.
For some businesses the help cannot come soon enough.
A recent survey from Suffolk Chamber of Commerce revealed the lack of certainty around Brexit has already had a negative impact on investment and employment.
While the group’s quarterly economic survey showed a further decline in business activity, especially in cash flow, orders and profitability.
“We have received reports of many companies stockpiling inventory, including one company which has brought forward a quarter’s worth of stock - £40m in total,” said chief executive John Dugmore.
“Clearly, this is only sustainable in the short-term as stockpiling both eats into working capital and becomes increasingly expensive as warehousing capacity grows more scarce.
“The period since the June 2016 referendum has been extremely frustrating for the business community in Suffolk and across the UK.
“Business leaders and entrepreneurs are by nature pragmatists, able to make the best of virtually any eventuality, but clarity and good quality advice and support are needed to drive business on.”
Surya Foods is one of the region’s businesses left frustrated by the ongoing uncertainty created by the Brexit extension.
The international food company, based in Harwich, is part of the Flying Trade Group and imports and exports world food across the globe.
“We are in the same position as we were yesterday and we simply don’t know what kind of trading arrangement the UK will end up with.” Said Suki Dulai, chief executive of the Flying Trade Group.
Harry Dulai, Surya Foods managing director added: “It is not the concept of Brexit causing an issue for businesses, it is the uncertainty.
“Unfortunately this is simply a continuation of that uncertainty and it will continue to hinder our business: it leaves a question mark over pricing, availability and delays our long term investments.”
“We have already seen retailers delaying promotions for the remaining part of the year from which we are now seeing a short term inflation.
“We are fortunate to have substantial storage capacity to strengthen our stocks so any delays at the port wouldn’t affect us too much.”


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LANSING — Sen. John Proos is encouraging Southwest Michigan residents to be mindful of phone and email scams, especially those which ask for personal information or money to claim a prize sweepstakes.
“The growth of the Internet, email and social media has increased convenience for consumers. Unfortunately, along with that growth has come an expanding outreach by scam artists looking to take your money or steal your identity,” said Proos, R-St. Joseph. “I urge all Michigan families to look out for scams and report them to the state attorney general’s office.”
Residents may report a suspected scam to the Attorney General’s Consumer Protection Division by calling 1-877-765-8388 or by visiting their website at www.michigan.gov/ag. There you can click on Complaints to learn how to file a complaint online or by U.S. mail.
“Consumer Alerts” with advice on numerous consumer issues, include several popular scams, are also available on the attorney general’s site under Consumer Protection.
“Scam artists are becoming clever in disguising their fraudulent activity, and are increasingly targeting vulnerable populations, like our seniors,” Proos said. “Two simple rules will help you avoid falling for most scams: Never pay anything to collect a prize; and never give out your credit card number, bank account information or Social Security number over the phone or in an email. No legitimate contest or bank will ever ask for personal information like this.”
Any resident who believes they have been a victim of a scam and has experienced any trouble contacting the attorney generals’ office are welcome to contact Sen. Proos’ office by phone at (517) 373-6960 or by email at: firstname.lastname@example.org.


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By Ross Markman, Retail Relations Editor
Eight miles from the tiny town of Larchwood, Iowa (pop. 788), Fran Zuraff faces a major competitor for customer dollarsSouth Dakota.
Competition wasn’t quite as stiff until recent months, when Zuraff and hundreds of fellow Iowa retailers had been banking on a relatively new profit center, TouchPlay lottery machines, to help recoup revenue lost at the pumps.
That all changed, however, when Iowa Gov. Tom Vilsackurged by a coalition of mayors, town council members and lawmakersbanned TouchPlay from the state, just a few years after those same legislators approved its implementation.
The Larchwood Mini Mart, which Zuraff has owned for the past 12 years, operates under the ConocoPhillips brand and earned an extra $400 to $500 in net margins per month from TouchPlay.
Some retailers face more substantial losses as a result of the governor’s flipflop. One particular store owner, according to a c-store operator who asked not to be named, risks losing his home and going bankrupt after investing in several of the TouchPlay machines.
“If the state is so concerned about gambling away money that should go to feeding their children, this is not going to stop those people from playing these machines,” Zuraff said. “If they want to play, they’re going to go to South Dakota.”
Nearby Sioux Falls, S.D., is home to several casinos that will reap the gambling revenue that, prior to TouchPlay’s removal, stayed in Iowa.
Critics of TouchPlay argued that the glorified casino slots ultimately would lead customers down the path of gambling addiction, bankruptcy and depression. Lottery officials and c-store owners, however, contended that the convenience industry is ideal for TouchPlay because stores already provide an age-restricted environment (see “A Touch of Controversy,” March 2006, p. 8).
Under the ban, which goes into effect early this month, stores with TouchPlay machines were given 45 days to remove them, with the threat of hefty finesa 65% excise tax on revenuesif they don’t comply. Some retailers said they will respond through litigation, arguing that they made a substantial investment in TouchPlay after a commitment by legislators to implement the program.
Zuraff is one of the fortunate c-store owners; she opted to lease two machines from the manufacturer instead of purchasing them. As part of the lease agreement, she kept only 25% of the profits, but also isn’t strapped with the financial burden of owning useless equipment.
“It’s going to be a disaster for people who bought the machines,” she said.
Larry Bentler, president of Houghton, Iowa-based Jet Gas Corp., said most retailers he knows leased the machines. Jet Gas operates eight stores in the rural southeast region of Iowa.
Although Bentler didn’t invest in the machines, his chain is losing a nice chunk of profits with the removal of TouchPlay as much as $3,000 per month at one particular store.
“I saved myself a couple hundred thousand dollars by not investing in the machines,” Bentler said. “I really don’t have damages other than lost profits.”
Many retailers expressed distrust for lawmakers, just a few years after the legislature teamed with private industry to generate the revenue stream. The state received 24% of net dollars from the more than 6,000 machines scattered throughout Iowa, which, according to the Des Moines Register, totaled more than $242 million since July 2005.
“It’s fine if [lawmakers] want Iowa to be pristine, but then let’s do away with the lottery and the casinos,” said Mark Nelson, president of Spencer, Iowa-based Dyno Oil Corp., which operates nine convenience stores in the northwest region of the state. Dyno Oil had a total of 32 TouchPlay machines, with profits in excess of $20,000 per month companywide.
“I don’t think anyone anticipated the growth that it would have,” Nelson said. “Then, all of a sudden, the casino interest said, ‘Oh my gosh, we have to put a stop to this.'”
Zuraff echoed that sentiment, and said she ironically had more customers use the machines in the first few days following the ban than had used them before the governor approved their removal.
“It is really sad that the state of Iowa allowed them to be put in, and now they’re taking them out,” she said. “It’s just nasty, and leaves me with little faith in our government.”


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NH Financial Group aims to log 1 trillion won in net profit in 2018 by strengthening the Wealth Management and Corporate Investment Banking sectors of its operation.
The group will improve its competitiveness to compete with rival financial groups like Shinhan, KB and Hana by finding new businesses and streamlining its structure.
This is the gist of the financial group’s 2018 management plan, which was approved at the board’s meeting held Nov. 27, along with a structural reform plan.
Chairman Kim Yong-hwan said the group prepared its foundation in 2017 for another leap forward. Next year, NH will consolidate its operations and be recognized from financial markets as a leading financial group in the country, challenging the major groups.
The group has decided to set up a new unit to manage its wealth management sector. It will strengthen its wealth management operation to challenge the similar units of the large-scale financial groups, with a specific aim to expand the sector’s operation with marketing moves targeting the baby boomer generations.
Its strategies for the corporate investment banking sector involve issuing notes to secure funds, which NH will use to provide loans to SME customers through its nationwide financial network. The group also will seek to find new businesses to beef up its operations, and the REITs management is a possible area that it might take up as its new business in next year.
NH Capital will take up a long-term car rental business as well as its offshore operation in 2018, while NH Investment and Securities will set up a Global Strategy Headquarters to strengthen its overseas operation. The company will also expand the number of employees at its Hong Kong branch.
The bank will broaden its operation in Asian retail financial markets in China, Indonesia, Malaysia, Myanmar and Cambodia, among others, with its Hong Kong branch as a base.
Also included in the plan is a digitalization strategy.
The first move will be to promote the vice president in charge of the digital finance of NH Bank to CDO to take charge of the entire digitalized financial transactions of the bank.
The digital financial officer will be assigned to each of the bank’s branch office and the digital financial sector will have robots installed to help the operation amid manpower shortages. There also will be a digital team which can take care of both face-to-face and non-face consultations at each branch office around the country.
The board members also discussed important personnel matters, including the appointment of CEOs at some affiliates whose terms are up at the end of this year, such as the CEO of NH Bank.


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February 01, 2011 – Kharkov - DataArt, a high-end software development company with headquarters in New York City and R&D centers in Eastern Europe, announced its 2010 achievements, reaching an all-time high in annual revenue, with a year-over-year increase of 35%.
2010 proved to be a spectacular year for DataArt. The company has signed 47 new clients across key industries, with Financial Services practice growing 25%, Healthcare & Pharma 125% and Mobile Solutions practice exploding ten-fold compared to 2009.
The surge in Mobile Solutions business is due to an increasing demand for iPhone, iPad and Android app development from new and existing clients across all industries of DataArt’s expertise. Mobile solutions developed by DataArt in 2010 include search, payment, betting, advertising, shopping and photo browsing applications.
“Our record growth is fueled by the new generation of internet startups set to transform traditional industries,” said Eugene Goland, President of DataArt. “DataArt’s technology and industry expertise allows our clients to focus on their vision and marketing, making it possible to establish efficient and powerful partnerships.”
In 2010, DataArt has strengthened its onsite presence in New York and London with several executive hires and opened a Sales & Management office in Switzerland. DataArt’s R&D centers in Russia and the Ukraine hired a total of 200 new developers.
DataArt was named to Inc. 5000 List of America’s fastest-growing private companies by Inc. Magazine and a Top Five Company for Career Advancement by Ukrainian Business Status.
DataArt (www.dataart.com) is a high-end software engineering firm with industry-specific expertise in financial technology, online travel, healthcare, media, and mobile solutions. With a dedicated engineering base in Eastern Europe, DataArt helps clients to optimize time to market and to minimize software development risks in mission critical and knowledge intensive systems. DataArt has been named one of the world’s top and fastest growing service providers by BusinessWeek, Global Services 100, IAOP, and Inc. Headquartered in New York City, DataArt runs four R&D centers in Russia and the Ukraine, and maintains offices in London, UK.