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Topic: Steve Jobs
01/18/2017, 11:01 am
Under Tim Cook -- who assumed the CEO reins from Steve Jobs in 2011 -- Apple has become a more hierarchical company, where people largely stick to the tasks they were hired for, according former Apple engineer Bob Burrough.
01/11/2017, 05:01 pm
Former Apple executive Tony Fadell discusses the genesis of what would become the iPhone, Steve Jobs' insistence about a rotary dial in software, and the evolution of the iPod in a new interview.
01/09/2017, 10:01 am
On the 10th anniversary of the iPhone's unveiling, Apple marketing chief Phil Schiller reminisced on the past decade, talking about what the iPhone means to the company, how it has changed Apple over time, and the marks the device has made on the entire world.
01/09/2017, 03:01 am
Ten years ago today, Steve Jobs unveiled the original iPhone during his keynote address at Macworld 2007. More than just a new product, the new device launched a radical new computing platform and rapidly accelerated the sophistication of mobile computing.
12/08/2016, 09:12 am
Stars John Hodgman, Justin Long and the ad team responsible for Apple's 'Mac vs. PC' campaign -- launched in conjunction with the Intel Mac -- recently got together and talked about the evolution of the concept, other celebrity ad campaigns proposed and scuttled, and the difficulties of working with perfectionist Steve Jobs.
10/05/2016, 01:10 pm
Apple executives Tim Cook and Eddy Cue both claimed spots in Vanity Fair's annual "New Establishment" list on Wednesday, even as Cook once again paid tribute to his famous predecessor -- Steve Jobs -- on the fifth anniversary of his death.
10/05/2016, 12:10 pm
Five years ago today, Steve Jobs passed away -- just one day after Apple introduced Siri on the new iPhone 4s. While the pundit press immediately dreamed of a rapid collapse of Apple in his absence, instead the company Jobs cofounded spiraled upward to become the largest and most profitable ever. Why were they all so very wrong?
09/02/2016, 02:09 pm
An online auction has started containing a large amount of Apple founder Steve Jobs' personal effects, including a leather jacket worn in a famous picture taken underneath the IBM logo.
08/31/2016, 05:08 pm
Laying years of rumors to rest, veteran technology journalist Walt Mossberg this week confirmed knowledge of Apple's work on a full-fledged television set, saying Steve Jobs phoned him to discuss the project shortly before his death in 2011.
08/24/2016, 10:08 am
Though Wednesday marks the five-year anniversary of Tim Cook officially taking reins at Apple, he actually oversaw the company's day-to-day operations well before he was named CEO, and during some of its most difficult days.
08/19/2016, 02:08 pm
The International Photography Hall of Fame and Museum -- based in St. Louis, Missouri -- on Friday announced the posthumous induction of Apple co-founder Steve Jobs, citing the iPhone's contributions to the photo world.
03/08/2016, 07:03 pm
Originally set to debut in April, "Nerds," a musical adaptation of the epic rivalry between tech titans Steve Jobs and Bill Gates, has canceled its scheduled Broadway run.
03/04/2016, 10:03 pm
Rev. Robert Palladino, whose work as a master calligrapher influenced a young Steve Jobs and subsequently the typography of Apple's first Mac computers, died on Friday at the age of 83.
03/03/2016, 12:03 pm
A musical opening in New York City later this month, The Crazy Ones, will revolve around Apple co-founder Steve Jobs in some of earliest years at the company, including his internal and external conflicts.
02/24/2016, 11:02 am
It's easy to forget that the empires built by Steve Jobs, Bill Gates, and their peers were raised on foundations laid more than a century ago. On the day Apple's co-founder would have turned 61, let's take a moment to appreciate the pioneers who came before.
01/14/2016, 05:01 pm
The famous rivalry between tech titans Steve Jobs and Bill Gates, whose companies Apple and Microsoft together shaped the modern computing world, is the focus of an upcoming Broadway musical comedy called "Nerds," set to open in April.
01/14/2016, 10:01 am
Awards season continues to be kind to the stars of Danny Boyle's Steve Jobs biopic, as the Academy of Motion Picture Arts and Sciences bestowed one nomination apiece on Michael Fassbender and Kate Winslet for their roles in the film.
01/11/2016, 09:01 am
The Danny Boyle biopic Steve Jobs picked up two awards during the Golden Globes on Sunday, including Best Screenplay for Aaron Sorkin, and Best Performance by an Actress in a Supporting Role for Kate Winslet.
12/29/2015, 01:12 pm
CNN has launched a microsite advertising its upcoming broadcast of "Steve Jobs: The Man in the Machine," the controversial Alex Gibney documentary about Apple's iconic co-founder.
12/28/2015, 12:12 pm
Prague's newly opened "Apple Museum" claims to be the largest private exhibition of its kind, featuring rare items like the Macintosh TV, Steve Jobs business cards from NeXT and Pixar, and an Apple Lisa.


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Even as cryptocurrency values dropped, the number of ATMs has exploded, globally.
In fact, according to Coin ATM Radar, there are now 5,055 of them around the world. At the moment, the U.S. has the most with 3,271 machines installed. New Jersey has 177 Bitcoin ATMs. New York has 125. Illinois has 360 of them.
Globally, Austria has 267. Canada has 690. Argentina now has nine. Germany has 36. Hungary has 26. The Dominican Republic has 12. Mexico even has 12. Norway has two. France has one. Japan has three. Finland has 13. Even Kenya has one.
And those numbers will only grow, in our opinion.
The Global ATM Market could be Worth $145 Million
By 2023, the global ATM market could be worth as much as $145 million. That’s according to a study by the B2B firm, Markets and Markets. They note the market could grow at a compound annual rate of 54.7% over the next five years.
Experts expect that the largest market for cryptocurrency ATMs by 2023 will continue to be North America, which currently stands at 73%. Therefore, this makes the US the leader in the installation of cryptocurrency ATMs.
“The US is expected to continue to dominate the crypto ATM market during the forecast period owing to the presence of a large number of crypto ATM hardware and software providers and favorable investment environment (without any legal barriers),” the report titled “Crypto ATM Market – Global Forecast to 2023” noted. “In 2017, the Government of Mexico declared Bitcoin legal. In addition, Canada has recorded extensive start-up activity, especially for cryptocurrency.”
Global Adoption Gaining Momentum and Bitcoin ATMs will Accelerate this
The number of businesses accepting cryptocurrency is growing by leaps and bounds. Intuit, PayPal, Dish Network, and Overstock are some of the biggest.
At Microsoft for example, you can buy content in the Windows and Xbox stories. The company was even behind the launch of Azure Blockchain as a platform that allowed larger-scale businesses to use blockchain to facilitate settlements.
Even Facebook, which is reportedly weeks from launching its own cryptocurrency could be made available at ATM cash machines.
In short, it would appear the crypto boom has only just begun.

domain: news


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In the news
CTV News features EcoTank on Consumer Alerts
A new dispenser is popping up at gas stations across the Greater Toronto Area, allowing drivers to top up their windshield washer fluid while filling the tank with gas. "It's true some people are looking at them, and they're not sure exactly sure what they are for," said Sean Elliott with EcoTank Canada.
EcoTank said it is now operating 288 windshield washer dispensers in four provinces.
"We manufacture these dispensers and install them at gas stations, EV chargers and condos, and now Canadians can refill their windshield washer fluid without using a plastic jug," said Elliott.
The dispenser is similar to a regular gas pump. Drivers prepay at the pump and can then use a hose that will fill directly into the car's windshield washer reservoir. The dispenser can also be used to refill washer fluid plastic jugs.
The washer fluid costs about the same as the containers of fluid drivers can purchase inside gas stations. CTV News Toronto went to a Canadian Tire gas bar where washer fluid cost $1.80 per litre.
You prepay but are charged only for the amount you use.
"You only pay for what you need. If you need three litres, you get three litres instead of buying a whole jug," said Elliott. The company is hoping the environmentally friendly idea catches on with consumers. "The more people that try it and see how it works, the more people will use it over time," said Elliott.
EcoTank is based in Orangeville and launched its first dispenser about two years ago. The technology was first used in Europe. It's estimated more than 70 million jugs are purchased in Canada annually.
Click here to see the story!


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PLEASANTON, Calif. — Safeway here said last week it has no immediate plans to expand its initial test of a new payment program that avoids bank fees, though it has reportedly received inquiries from other companies interested in offering similar programs.
The initiative — called Fast Forward — links Safeway’s loyalty cards to a shopper’s checking account, thereby avoiding bank fees on debit transactions. It was launched in February in the Sacramento, Calif., market as part of the chain’s gas rewards program.
Safeway said the program does not require customers to obtain another debit card nor even to produce an actual card. Instead, Fast Forward allows them simply to enter their phone number and a personal identification number at the checkout to qualify for gas discounts.
The company said it will be “many months” before Fast Forward might be expanded to other markets.
However, Safeway has already received requests from other retailers interested in adopting the technology and indicated it may be willing to share the information with them, Robert Edwards, Safeway’s new chairman and chief executive officer, said during last week’s annual meeting, shortly before which he formally took over leading the company from longtime CEO Steve Burd.
“We’ve been working for a number of years on payment technology that provides efficiency,” he told shareholders. “We’re embracing the technology that we can use throughout the system and making it available to partners who have expressed interest.
“When people think of innovation, they think of Silicon Valley. At Safeway we’re always looking for innovation and best practices.”
In separate remarks during the meeting, Edwards detailed previously announced plans for Safeway to try to boost its appeal to affluent customers at some locations by re-merchandising the Center Store sections differently.
The chain is already engaged in remodeling the Center Store to improve adjacencies “and to provide solutions rather than just stocking shelves,” he said.
However, tests at 14 stores with an upgraded merchandise mix “exceeded expectations,” Edwards said, prompting Safeway to identify 150 stores with a base of more premium customers — those with higher incomes and educations who have been less affected by the economic downturn.
Of the 270 center-store upgrades planned for this year, 76 have been designated as premium store.
The transition to Edwards’ as CEO was low-key, with Burd introducing his successor and urging him to “show us what you’ve got.”
At the end of the formal portion of the meeting — during which shareholders re-elected eight directors — Burd said he had met Edwards in 1978, when he was consulting on a project for the Santa Fe Pacific Co., where Edwards worked, “and I thought he was a real talent.”
They met again in 2004, he recalled, when Safeway was seeking a new chief financial officer. “I’m a financial guy myself,” Burd said, “which meant it was difficult to find a financial guy that met my standards.
“But Robert was that guy, and for the past nine years, I’ve started every day in his office, though I’m not sure why we didn’t meet in my office.
“There’s no more shareholder-friendly, more determined CEO than Robert, and I couldn’t be leaving the company in better hands.”
Edwards thanked Burd for his years of service, noting that the company’s stock had risen from $18.09 per share a year ago to $25.47 per share. His long-term objective, he said, is “to continue to produce attractive results that the stock market will reward.”
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By AZ Business Magazine
The Arizona Association for Economic Development announced the results of its State of Arizona Economic Development survey at its recent spring conference. AAED surveyed its membership of more than 500 economic development practitioners and those that provide goods and services from the private sector.
Key takeaways from the survey include:
• Strong economic outlook for the next year
• Without available buildings, skilled labor/talent and adequate infrastructure, communities will struggle
• Economic developers must increasingly address workforce issues
• Practitioners and providers view infrastructure differently


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After lots of pre-launch publicity, Boehringer Ingelheim has unveiled a beta version of its pharma game "Syrum" on Facebook. It's an evolution in the pharmaceutical industry's use of the social media platform and gives the German drugmaker a new tool to educate the general public about the challenges of its business.
Pharma groups have plenty of Facebook pages dedicated to corporate, disease-focused or brand initiatives. Yet commentators have called "Syrum" the industry's first stab at a social game, and it's one that puts players in a virtual lab and challenges them to create drugs and bring them to market. And while the game might fall under the umbrella of BI's digital marketing efforts, don't expect to see any promotions for the company's products on "Syrum" (at least not initially).
"We built 'Syrum' with a view to creating an ecosystem through which we could engage with people around education. It's also to do with reputation management, market research and recruiting talent," John Pugh, BI's director of digital, told PMLive. "We spend quite a lot of time and energy on our social media channels and this is another part of that, where we create a whole integrated framework."
To entertain players, the game marries elements of a card game like "Pokémon" and the popular social game "Farmville" with the challenges of drug development to combat diseases, as PMLive reports. And the game builds on BI's previous plays in the gaming world, including funding a Facebook game for the Diabetes Hands Foundation and tapping the research community Kaggle to solicit predictive data models.
As PMLive reports, "Syrum" has been three years in the making and missed a previous launch date late last year. With the beta version of the game, BI expects to get feedback from a pool of initial players on tweaks and improvements needed, and the full public launch of the game on Facebook is expected next year, InPharm reports. It should be interesting to learn whether the game catches on and motivates others in the pharma realm to enter the world of social gaming.
In other news, BI and diabetes drug partner Eli Lilly ($LLY) have joined forces on an online program called "My Well Planner" that provides diabetics with information about changes they can make to improve their health. PMLive reports that the program is part of the two companies' U.S. marketing effort for the diabetes drug Tradjenta.
- check out InPharm's report
- see PMLive's article
- and FiercePharma's take
Boehringer hits 'on' switch for first pharma Facebook game
Boehringer Ingelheim lets Facebook game loose
Will 'gamifying' drug R&D win more than Facebook fans for Boehringer?
Boehringer sets launch date for pharma's first social game on Facebook


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Cards to help good causes
Derek James helps launch Norwich's Charity Christmas Card Shop.
Houses cost less than �3,000, petrol was 25p a gallon, queues were forming outside the cinemas to see The Sound of Music and The Beatles took America by storm.
This was 1965, Britain was swinging and in Norwich a group of people were preparing to open a little shop.
While the 60s are now a distant memory, this shop opened again this week, reaching out to the people of Norwich and Norfolk as it has done every year for 45 years.
Our very own Charity Christmas Card Shop was one of the first in the country and it has become part of city life over the decades.
During that first season in business the shop took �2,310. Last year the amount raised was �53,547 and this year the target is �55,000.
Overheads are paid through donations and fund-raising so all profits go directly to the charities concerned. Unlike other charity card shops, no profits from sales are taken into the organisation.
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For years I have been a customer so I was especially pleased to be asked to open the shop, which now has a permanent home at The Assembly House, this week.
Cards from almost 30 charities, local and national, including the civic charity Rotary House, are on sale at the shop which is run entirely by a team of about 100 volunteers.
The shop is open in the Noverre Gallery at The Assembly House seven days a week from now until December 18, Monday to Saturday from 9.30am to 5pm, and on Sundays from noon until 4pm.
Please take a look. These charities need and deserve your support and I want to thank all the people who give up their time to run the shop.


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Liquor Stores NA COO Talks US Plans, Strategy
FILED OCTOBER 25, 2016
Liquor Stores North America (LSNA) has the bulk of its stores in Canada, but you may have noticed the retailer has been inching its way into the US in recent years through both acquisitions and new store locations. LSNA now has 22 stores in Alaska, 15 in Kentucky, two in New Jersey, and one on the way in Connecticut and in Massachusetts, respectively. Your editor recently sat down with LSNA's US COO Steve Rop to discuss the plans for US expansion and discerning between a fad and trend, among numerous other things.


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Although nay sayers still say that tablet/slate computers haven’t proven that they are actually needed in this world, a host of companies are moving forward with producing them. Each of those devices need an operating system to power them, and while there are quite a few going with Google’s open source Android under the hood, Microsoft isn’t going to let Windows 7 sit this fight out.
According to ZDNet, Microsoft CEO Steve Ballmer named off all of the companies working on Windows 7 slate computers at his keynote for the Worldwide Partner Conference this week. Mentioned in the presentation were Asus, Dell, Samsung, Sony and Toshiba, and shown on a slide was the HP logo. There had been some questions about HP sticking with the plan even though a prototype was shown at the Consumer Electronics Show (CES) this year, but with the company now owning the webOS system from Palm, no one was quite sure what their plans were.
The tablet market is going to be a very crowded place by the end of this year. Google is expected to roll out its ChromeOS tablets this fall, Android tablets are already hitting the streets, an HP tablet powered by webOS could be out, the iPad will of course by handing around and now you can add in a slew of Windows 7 devices. For a tech space that barely existed 12 months ago, that is a whole heck of a lot of devices for consumers to choose between. One can only imagine what CES 2011 will look like as every mom and pop electronics company comes up with their own system.
It’s going to become a war of apps, battery life and price, and I think the operating system will actually not matter that much. Apps will probably become the most important factor, and the tablet that offers the most bells and whistles will probably be the winner. Unfortunately, or fortunately depending on your view point, it looks like everyone is going to be playing catch up with Apple in this product space.


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Light vehicle output grew by an impressive four per cent in 2006, to 66.4 million units, as demand in Asia provided a substantial boost to output. But as East European car plants continue to expand the ultimate fate of a number of plants in Western Europe remains in doubt. Pete Kelly
The global light vehicle market has started 2007 strongly with year-to-date sales already up by almost one per cent (to April) thanks to a record-breaking run of rapid economic growth. The good news for those in the industry is that there are good reasons to expect continued improvement in demand at the global level. However, the performance will be uneven in different regions.
China was an important factor in the strong start to 2007, with early-year sales rising to a record level. Not only do the many positive demographic and macro-economic trends evident in China for much of the past several years appear to be likely to continue for some time to come, but there has been some evidence of manufacturers engaging in aggressive marketing and pricing policies aimed at increasing market share. While many in the industry deny this is a symptom of overcapacity concerns, as might very often be the case in a number of the World’s other markets, one must wonder whether there are not some manufacturers concerned about keeping the rapidly expanding production base well utilised. Yet, while this development is worthy of a comment, we do not see overcapacity as a being likely to become a problem for the Chinese industry.
The West European light vehicle market is poised to enjoy a stronger year in 2007. Yet, the fact remains that mature markets like North America and Western Europe retain only limited potential for expansion, despite their large size, beyond the short term. In the USA, light vehicle sales look set to stagnate, at best, this year as macro-economic factors take a toll and the Big Three manufacturers at least try to keep away from pricing incentives, concentrating instead on reducing their production base to meet the requirements of a reduced market for their vehicles. The erosion of Big Three share continued last year as the Asian companies continued to improve their position: Ford, GM and DaimlerChrysler combined lost three per cent share in 2006, compared with 2005 (taking penetration down to 56.5 per cent). Meanwhile, Toyota gained a further two per cent share, with 15.4 per cent in total, overtaking what was then DaimlerChrysler.
Booming market conditions, in the meantime, continue in a number of emerging markets. The rapid expansion of China is at the top of this list of course. But, even in Brazil, where a long history of financial instability has eroded the confidence of industry decision makers to the extent that investment in new products has been damaged, the recent performance and near-term outlook are excellent. Demand in Russia has also excelled.
From a segmental perspective, mature markets appear to be responding to higher fuel prices and increased environmental concerns in a way that will likely prove to be durable. For example, in North America, large SUVs and Pickups have peaked in terms of market share and will remain under pressure well into the next decade.
Despite many unknowns relating to how the European Union will manage a reduction in vehicle
CO2 emissions, this will push those buyers who would still be inclined towards an SUV-type vehicle towards small or midsize SUV variants. It remains unclear at this time how producers of premium vehicles, some of which have significantly above average CO2 emissions, will cope with the coming changes, but the ability to sell smaller vehicles with premium pricing will likely become an area of great interest for product designers.
In many emerging vehicle markets, the small vehicle is already dominant, primarily as a consequence of lower pricing. Expensive fuel and/or fiscal and regulatory policies will slow the expansion of larger vehicle share more than was expected just a few years ago but the kind of slow reduction in share of large SUVs that is expected in the US does not appear likely. This is a result of such vehicles’ role as a status symbol as much as mode of
Light vehicle output grew by an impressive four per cent in 2006, to 66.4 million units, marking out the fifth successive year of growth as demand in Asia provided a substantial boost to output.
Gains in Asia dominated as output in the region grew by over two million units to 25.5 million and, of this large increase, 1.5 million units came from China. In North America and Western Europe however, output fell as restructuring hit. The large restructuring programmes at the Big Three in North America were largely responsible, though it remains a moot point as to whether there will need to be more action. Ford and GM have made relatively large inroads, but capacity reductions at Chrysler appear inadequate.
Changes in Western European output are more a case of transition from West to East, as East
European plants continue to expand. The ultimate fate of a number of plants in Western Europe remains in doubt. What is most difficult to predict is exactly which plants, especially in core automotive countries such as France, Germany and Italy, will ultimately close. Attrition – in the form of a gradual reduction in output as products are replaced – may well be the approach from some car companies seeking to avoid the negative political consequences of the outright closure of a large plant.
What continues to be important, of course, is that the industry remains in growth and that there are winners and losers behind the structural shifts. It is in this context of expansion and profound change that the full impact of the very visible changes in play at
the OEM level may mask the true scale of the changes within the broader automotive industry: as vehicle assembly moves to lower-cost countries, then so too will large swathes of the supply industry, to become involved in new supplier parks and related infrastructure. This process has often lagged the moves of car manufacturers but it is catching up.
Pete Kelly is senior director Europe, JD Power Automotive Forecasting www.jdpowerforecasting.com


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Nio, a Chinese electric vehicle manufacturer, has decided to offer a Nio Phone smartphone for free to buyers of its 2024 models. This initiative, which began on February 22 and is limited to March, seeks to increase sales and take advantage of the tight integration between phone and cars.
Why give a phone?
Nio may have noticed that pre-order numbers weren’t what they expected, so this giveaway could be a boost for the brand. Furthermore, the Nio Phone is not just any phone, but a high-end device with a powerful Snapdragon 8 Gen 2 processor, a 6.81-inch OLED display, and a 5,200 mAh battery.
The Nio Phone is not only an attractive gift, but also offers a number of features exclusive to the brand’s vehicles. It allows you to control the air conditioning, massage seats and other car functions from your phone, making it an extension of the infotainment system.
Everyone who buys the 2024 models will receive a free smartphone, specifically the ES8, ES7, EC7, EC6, ET5 and ET5 Touring models. Pre-orders did not begin until February 22 and the first cars were received on March 8, according to CnEVPost. For now, the event is limited to March.
The company released the first-generation Nio Phone on September 21, 2023, and currently offers three variants starting at RMB 6,499 ($904), RMB 6,899, and RMB 7,499 respectively.
It is too early to know if this strategy will be successful. However, the offer of a high-end smartphone as a free gift is certainly original and could attract new customers. Plus, the integration between phone and car offers a unique experience that could be a deal-breaker for some buyers.
We are likely to see more cases of integration between smartphones and cars in the future. As cars become smarter and more connected, the phone can become an essential tool for controlling and personalizing the driving experience.
Would you like to receive a free smartphone with your next electric car?
Leave your opinion in the comments!


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The 2021 Chevy Trailblazer reintroduces to the nameplate as an all-new small crossover for select markets, and so far, the it has shown impressive sales strength. Now, GM Authority has uncovered the fastest- and slowest-turning 2021 Chevy Trailblazer trim levels.
For those who may be unaware, the vehicle turn rate referenced here is a measure of the average time it takes a particular model to sell, or rather, how long that model “sits” on a dealer lot.
According to documents seen by GM Authority, the 2021 Chevy Trailblazer is turning at an average of 36 days, as of the beginning of December. The fastest-turning trim level is the sporty RS, with an average of 29 days. Meanwhile, the mid-range LS trim level is the slowest-turning trim at 51 days.
For reference, an average of 60 days to turn is considered very good in the auto industry. As such, the low time to turn for the 2021 Chevy Trailblazer demonstrates just how strong demand is for the new crossover.
As GM Authority covered previously, the new Chevy Trailblazer RS is exceeding all expectations, doubling Chevrolet order and sales forecast at launch and helping to raise average transaction prices. Sitting alongside the Activ trim in the model lineup, the Trailblazer RS features LED tail lamps, a leather-wrapped, flat-bottom steering wheel, a leather-wrapped shift knob, 18-inch wheels, a black mesh grille, and black badging.
What’s more, the 2021 Chevy Trailblazer is punching one weight class higher than intended, competing with C-segment rivals, even though it is positioned in the B-segment.
The 2021 Chevy Trailblazer recorded 10,322 units delivered in the U.S. during Q3 of 2020, and remained the fastest-turning vehicle in the industry during the time period. U.S. sales for the first nine months of the 2020 calendar year are reported at 17,024 units total.
The sales pace is expected to accelerate as additional units are produced. In fact, General Motors plans to cut production of the Chevy Trax by 30 percent heading into the 2021 calendar year, with the 2021 Chevy Trailblazer taking up the newfound production capacity.
The 2021 Chevy Trailblazer rides on the GM VSS-F platform, with assembly for the North American market taking place at the GM Bupyeong plant in South Korea. The Trailblazer is also produced at the Dong Yue plant in China. Engine options include a pair of turbocharged three-cylinder gas units, including the 1.2L LIH and the 1.3L L3T.


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PARIS — Hennes & Mauritz continues to struggle to pull out of its defensive mode, missing expectations with a 21 percent drop in second-quarter profit and reporting it accumulated stocks of clothing over the period.
The Swedish fast-fashion retailer is undergoing a broad overhaul in a bid to catch up with nimbler rivals, investing in supply chains and artificial intelligence, as well as bolstering the online services. The earnings report prompted concern about progress of the turnaround efforts.
“We went into the second quarter carrying too much stock, and we still had some imbalances in the H&M assortment — something that we are gradually correcting,” said chief executive officer Karl-Johan Persson.
Profit for the March-May period totaled 4.638 billion Swedish kronor, or $520 million, slightly below expectations as markdowns continued to weigh on company earnings. In addition, the company flagged disruptions to the supply chain as it moved to modernize its systems and improve delivery times.
Sales for the quarter amounted to 60.46 billion Swedish kronor, or $6.9 billion, flat in terms of local currencies compared to the same quarter last year.
Disruptions affected sales in the U.S., France, Italy and Belgium, as well as online services in Nordic countries, H&M said.
Analysts expressed disappointment at the earnings report.
“The miss, although small, is particularly disappointing given already low expectations,” noted Barclays in an e-mailed note to clients.
Mounting inventory levels have been a source of concern for the company in recent months, and analysts flagged an increase in the proportion of inventory compared to sales.
“Inventory continues to grow in absolute terms [up 13 percent in local currencies] and as a proportion of sales,” noted UBS in a research note, adding the figure stood at 18.2 percent compared to 16.1 percent for the same period last year.
“These are historic highs for the company, and we think they are a reflection of a structurally challenged supply chain which will take time to improve,” the Barclays note said.
In a conference call with analysts, executives moved to reassure investors that they can draw down the stocks.
“We have not sold according to plan. We will clear this during summer sales as good as we can in our own channel and we will look at third parties as well,” Persson said in the call. He added that H&M’s goal is to improve the situation by the end of the season compared to same period last year, noting that many of the products were “seasonless.”
“It’s a balancing act of doing it most efficiently,” Persson also said, while declining to further detail the company’s plans.
H&M also flagged disruptions in the supply chain as it struggles to speed up its process, which affected group sales over the quarter to the tune of around two percent of group sales over the quarter, executives said.
“As part of our transformation work we are transitioning our logistics systems to make our supply chain even faster, more flexible and more efficient. These transitions are complicated and can result in temporary interruptions, as unfortunately occurred during the second quarter in some of our major sales markets,” Persson said. The executive added that technical glitches had arisen when integrating the warehouse management and automation systems, but that the issue had been largely fixed, paving the way for an easier transition for future markets. Eight countries have been shifted to the new system.
H&M is also exploring new ways to improve its stores and has launched a new discounter retailer selling other brands. In recent weeks, the group opened two Afound stores, selling fashion and lifestyle products at bargain prices from hundreds of brands.
“Reception has been very good so far,” said Persson, noting the company has plans to open more of the stores in Sweden this year.
The group also plans to bulk up the offer of H&M Home, extending the product range beyond textiles, decorations and products for kids to include furniture.


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Any shoppers who like a bargain will love to shop at Aldi.
People who enjoy grabbing a bargain will see themselves being pulled to the massive supermarket chain instantly.
But according to the Manchester Evening News, the supermarket has a 'bargain hour', when it reduces the food which is about to expire by 50 per cent.
You would be forgiven for thinking that the best time to pop to Aldi for these half off products is at the end of the day.
But that's not always the case.
Several shoppers have reported finding items with 50 per cent off labels at opening time - which is 7am for many stores across the country.
However, it does vary from store to store, so you're best contacting your local branch if you want to find out the best time to go to get your hands on these stickered items.
Speaking about the reduction hour, a spokesperson for Aldi said: "All items are reduced to 50 per cent of the recommend sales price before stores open on their best before or use by dates."


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The company beat Wall Street expectations for its first quarter ended September 30, with pandemic-induced demand for the software giant’s cloud-based services driving sales.
- Subrat Patnaik and Stephen Nellis
- Best places to work
Any return to the office is still likely to allow more people to work from home at least a few days a week as part of the new fashion for hybrid working.
- Jennifer Hewett
ASX-listed ARB Corp thinks there’s big upside in the US for 4WD and ute accessories orders are bigger across the group than pre-COVID-19.
- Simon Evans
When Jeff Bezos boasted of his Amazon conquests on Twitter, Tesla CEO Elon Musk responded with a tweet of a second-prize silver medal emoji.
- Ben Stupples
The Tesla CEO’s net worth rocketed way above that of Amazon’s Jeff Bezos after an agreement with investors revalued Mr Musk’s space exploration company, SpaceX.
- Scott Carpenter
- Life & Leisure
As impossible as this may sound, one would soon tire of messages announcing an Oompa Loompa carrying a package was at one’s door.
- John Davidson
With three of the five FAANG stocks now in a correction, investors need to think carefully about where big tech goes from here. But it might not all be bad news.
- James Thomson
Only 8 per cent of Australian artificial intelligence users are seriously looking at the dangers lurking in the technology, a new study has found.
- John Davidson
Premier Investments is a case study in the creation of a highly tuned retail business with huge growth opportunities from taking famous local brands to international markets.
- Tony Boyd
The online bookseller is doing due diligence on several businesses and prepared to spend between $10 million and more than $100 million on the right deals.
- Sue Mitchell
John and Jenny Paulson are divorcing after 20 years of marriage, the latest split in a billionaire family that’s set to reshape one of the world’s largest fortunes.
- Pierre Paulden and Katherine Burton
Mirakl, which provides marketplace platforms for Catch Group and Click Frenzy, plans to accelerate expansion after raising $US555 million.
- Sue Mitchell
Melbourne-based company Flippa, which runs an online marketplace for people to buy and sell online businesses, has raised $15 million in a round led by Sydney-based venture firm OneVentures.
- Natasha Gillezeau
Local Measure almost went bust when its hospitality sector clients shut down, but it repurposed its technology to work in contact centres and business is booming.
- Paul Smith
Their tremendous ability to rapidly grow profits has defied Cassandras who said buying such a share for more than 30 times earnings would haunt investors.
- Lu Wang
US President Joe Biden sharply criticised the roughly 80 million Americans who are not yet vaccinated.
- Zeke Miller
America’s Federal Aviation Administration said the rocket ship carrying Richard Branson and five Virgin Galactic employees in July veered off course.
- Marcia Dunn
The company said Wednesday that it plans to hire 55,000 people around the world, with about 40,000 of those roles in the US.
- JOSEPH PISANI
The absence of tech and dominance of banks and miners leaves the list of Australia’s biggest companies mostly unchanged since BOSS was launched 21 years ago.
- Richard Henderson


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Tuesday, March 1, 2011
Geneva 2011: Sbarro's Evoluzione vs. Lamborghini
This year at the Geneva Motor Show, Espera Sbarro design school, has made a cool car for us. Just for show, 25 students made a car in thirteen weeks. Took a 180 hp engine from an Audi. They called the car 'the Evoluzione".


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Apple has just unveiled CarPlay in the International Motor Show which held in Geneva. With CarPlay, it will become very easy and safe to use the device inside the car. On the other hand, Google has already set Alliance with the companies like Honda, Ford in this regard and the first car equipped with the latest feature by Google will be releasing at the end of this year.
CarPlay is no doubt an innovative feature that lets you do all the smartphone related activities such as answering the call, getting direction from your iPhone, sending text and listening to the music while driving on the road. In order to enjoy this feature, you will have to use the touchscreen or knob on your dashboard for interacting and giving direction to the smartphone.
If you have iPhone 5/s or 5c then you can interact with your device while connecting it with your car. Initially, the app will support some basic function only which includes GPS-tracking, texting, voice calling and music playback. The applications like Spotify and Podcasts will also be supported and off course Siri (the revolutionary virtual assistant) will be there to help you in getting the things done.
Honda is manufacturing the cars that will be compatible with CarPlay and other companies such as Ferrari, Volvo, Jaguar, Hyundai and Ferrari also showing their interest and it seems these companies will add this revolutionary feature in their latest models to tempt the customer.
The iOS product marketer and Apple’s vice president, Greg Joswiak says, “Apple customers always want to have their content on fingertips and Carplay lets the user to use iPhone with minimum distraction.”
It seems as Apple will face tough competition again as Google has already started working with the partners like Audi and Honda. There are many other companies as well that are offering similar features but the Apple’s biggest rivalry in this niche will be Tesla which has already equipped their cars with 17’’ display that runs on Linux based UI.
At the end of this year, cars with Apple’s CarPlay will be available in the showrooms. However, people living in the countries other than Europe will have to wait for some more time.


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Big Data - China's Digital Landscape and Rising Disruptorsdata iot smart-city artificial-intelligence internet-of-things big-data smart-city-technologies
Sari Arho Havrén
+852 6895 5221
The Chinese government has set ambitious goals in its big data industry development to foster new economic drivers. One of these goals is e.g. to increase the annual sales of China’s big data industry (including related goods and services) to RMB 1 trillion by 2020 from an estimated RMB 280 billion in 2015. This report examines the Chinese big data industry and its innovators along with possible future opportunities and implications that China's expanding big data industry could entail for Finland.


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When institutions blow apart, the old rules give way to something that’s more like no rules. Which is pretty much where we are in journalistic branded content.
In that environment, brands have to be careful and behave, or they could find themselves losing the public’s trust.
The old structure of the media industry had its flaws. But when news and information flowed through traditional newspapers and magazines, trained journalists imposed a shared code of law, especially when it came to things like conflicts of interest, separating advertisers from coverage, and objectivity. Same with books and publishing houses, though book editors generally had a different set of standards from journalists.
If those institutions were gatekeepers, the gates have been obliterated by storming mobs. Instead of pitchforks, they’ve come bearing Web news sites, blogs, Twitter, self-publishing, Kindle Singles, etc. The democratization of media has been wonderful and eye-opening in so many ways, but there’s also this: Some in the storming mobs have a lot of money to spend and a motivation to use it in ways the old journalists usually squashed.
Case in point: the government of Malaysia. Last week, the story surfaced that Malaysia paid 10 media columnists – who wrote for outlets such as Huffington Post and National Review – to write pieces smearing an opposition leader, Anwar Ibrahim. With a hunger for content and less scrutiny of what they publish, Web news sites are particularly vulnerable to this kind of thing.
We’ve seen instances of Twitter abuse. Lots of questions have been raised about celebrities getting paid by companies to tweet about their products – with no disclosure about the arrangement. Rainn Wilson got called out for pitching del Taco on the sly.
Lately stories have surfaced about schemes to manipulate bestseller lists so books like Zappos CEO Tony Hsieh’s Delivering Happiness looks like it zooms to the top.
Who knows how much of this goes unreported and unseen. So the temptation can be great for brands to sponsor content in sneaky ways.
But then, getting outed is a bitch. Anything pro-Malaysia in any news outlet is now suspect. Any celebrity mention of del Taco will raise an eyebrow.
In this new environment, brands have to be guardians of their own credibility. The best way to do that is to be as transparent and noble as possible when it comes to journalistic content. Don’t try to trick us. Yes, a brand may get away with it, but if we do find out, the brand will lose our trust. That’s not worth it.


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Royal Pharma's hostile bid for Elan collapses
ROYALTY Pharma’s hostile bid for Irish drug company Elan has lapsed after its shareholders approved a share buyback proposal.
Royalty’s bid offer was conditional upon shareholders at Elan rejecting four resolutions at the company’s EGM today.
Shareholders threw out the other three proposals.
Royalty's latest bid offered $13 in cash per share and added a clause known as a contingent value right that could add a further $2.50 per share if blockbuster drug Tysabri hits certain sales milestones.
Dublin-based Elan put itself up for sale last week in a last-ditch attempt to fend off a hostile bid by Royalty Pharma.
Elan urged its shareholders not to tender into Royalty's current offer, worth a potential $8bn (€6bn), but said the US company would be able to participate in the formal sale process if it so wishes.


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Hackers steal data from 2.9mn Adobe customers
Software titan Adobe Systems warned that hackers stole credit card numbers and other information relating to nearly three million customers.
Massive breach at eBay, which urges password change (Update 2)
US online giant eBay said Wednesday cyberattackers broke into its database containing customer passwords and other personal data in what could be one of the biggest breaches of its kind.
Researchers test quantum encryption hacking risk
(Phys.org) —Quantum communication systems offer the promise of virtually unbreakable encryption. Unlike classical encryption, which is used to send secure data over networks today and whose security depends ...
Evernote hacked: 50 million passwords reset (Update)
Online note-taking service Evernote Corp. has been hacked and is resetting all its 50 million users' passwords as a precaution.
Twitter says hackers compromise 250K accounts
Twitter confirmed Friday that it had become the latest victim in a number of high-profile cyber-attacks against media companies, saying that hackers may have gained access to information on 250,000 of its ...
US, British officials victims of Stratfor hack: press
Email addresses and passwords belonging to British, US and NATO officials were posted online following the hacking of a US intelligence analysis firm over Christmas, the Guardian daily reported Monday.
Player information swiped in hack of Ubisoft system
Videogame titan Ubisoft on Tuesday warned that hackers swiped names, email addresses and other information about users of its online gaming community.
Nvidia: 400,000 coded passwords may have been hit
U.S. semiconductor maker Nvidia Corp. says up to 400,000 users of its forums have had their encrypted passwords compromised in attacks dating back to early July.
Sony Ericsson's Canada site hacked: company
Hackers have attacked Sony Ericsson's Canadian eShop website, affecting 2,000 users, the latest online strike against the Japanese electronics and entertainment giant, a Sony spokesman said Wednesday.
1.29 million customers' data stolen from Sega (Update)
Hackers have stolen the personal data of some 1.29 million customers of the Japanese game maker Sega, the company said Sunday, in a theft via a website of its European unit.
Deals site LivingSocial says it's been hacked
Online deals service LivingSocial said Friday that its website was hacked, and the personal data of more than 50 million customers may have been affected.
Twitter, Washington Post targeted by hackers
Social media giant Twitter is among the latest U.S. companies to report that it is among a growing list of victims of Internet security attacks, saying that hackers may have gained access to information on ...
Passwords: How to choose one and why we need them
I just did a count of the systems I use that require a password and gave up at 40. I know I'm not alone; for many of us, it often seems we have too many passwords to manage.
Hackers hit videogame giant Electronic Arts
US videogame giant Electronic Arts (EA) on Friday revealed that hackers had looted user data in "a highly sophisticated" attack.


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LAS VEGAS--(BUSINESS WIRE)--Cantor Gaming, an affiliate of global financial services company Cantor Fitzgerald, announced today it has received authorization from the Nevada State Gaming Control Board to field test a new sports betting medium called Inside Wagers.
Inside Wagers, which will initially be introduced at the M Resort Spa Casino, gives patrons the opportunity to wager on individual games inside the conventional bookmaker lines. The system will operate on a commission basis to the patron on bets that are accepted.
“Inside Wagers is a line within the line, a revolutionary concept in the world of sports betting,” said Lee Amaitis, CEO of Cantor Gaming. “We’re creating an environment that allows people to get in and out of games at a much lower cost. Instead of the traditional 10 percent fee imposed on every bet, patrons will now be offered the opportunity to wager on an event at a substantial discount to the traditional rate,” he added.
Bets through Inside Wagers can only be placed during a designated betting window on a first-in, first-out basis. Once the window of time closes, additional bets are not allowed. All bets are then reviewed and either accepted in total, in part, or declined by the sports book based on demand of the wagering marketplace.
“Because lines continually move and Inside Wagers betting windows will open and close throughout the week starting on Thursday, patrons can take advantage of making bets based on the anticipated movement of the line, just as you would in the financial market,” said Mr. Amaitis.
Inside Wagers further builds upon Cantor Gaming’s expertise in financial technology, bringing Wall Street style trading to Las Vegas sports wagering. “We’re in the business of creating unique gaming experiences and continuously updating our products and technology to offer customers a gaming experience that they can’t get in any other sports book,” Mr. Amaitis said.
About Cantor Gaming
Cantor Gaming is an affiliate, and gaming licensee, of global financial services firm Cantor Fitzgerald L.P., which has over 65 years of experience and unparalleled expertise of highly secure real-time, global financial transaction processing, management, and execution. Cantor and its affiliates process over $140 trillion of financial transaction securely every year over its proprietary technology platform.
Cantor Gaming is the first company licensed to manufacture, distribute, and operate a mobile gaming system by the state of Nevada and remains the world leader. Cantor Gaming was also the first company to introduce In-Running wagering to Las Vegas, enabling wagering on live sporting events throughout the event. Cantor Gaming is the exclusive provider of mobile gaming and In-Running wagering solutions to the Hard Rock Hotel & Casino, Las Vegas Sands Corp, and M Resort Spa Casino, and also has announced that it will provide sports wagering and mobile gaming to the Tropicana.
Cantor Gaming also offers mobile solutions to the gaming industry through its proprietary mobile gaming device, eDeck™ (known as Pocket Casino at the Las Vegas Sands’ Venetian and Palazzo), which offers casino customers the ability to play innovative casino games developed by Cantor Gaming including XtraOdds Baccarat™ and XtraOdds Blackjack™ as well as new and exciting progressive jackpot games within designated areas of the casino property, away from the casino floor.
For more information, please visit: www.cantorgaming.com.
About M Resort Spa Casino:
M Resort Spa Casino is located on over 90 acres at 12300 Las Vegas Blvd. S. on the southeast corner of St. Rose Parkway and Las Vegas Boulevard. Situated higher in elevation than other resort-casinos on the Las Vegas Strip, the M Resort provides optimal views of the world-famous Las Vegas skyline from its guest rooms, suites, conference center and restaurants. The resort offers 390 guest rooms and suites, over 92,000 square feet of gaming, nine restaurants and five destination bars, more than 60,000 square feet of meeting and conference space, a state-of-the-art spa and fitness center and a 100,000 square foot events piazza. Future developments for M Resort will bring up to one million square feet of retail in a partnership with Taubman Centers Inc. and a 14-screen digital movie entertainment complex. For more information, visit www.theMresort.com. Find us on Facebook – M Resort Spa Casino. Follow @MResort Twitter. Read our M Point of View Blog.


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Mark Byrnes is a former senior associate editor at CityLab who writes about design and architecture.
Citing "manufacturing reasons," the fast food chain announced it has closed its three locations on the peninsula.
McDonald's announced earlier today that it has closed its three Crimea restaurants, calling it "strictly a business decision which has nothing to do with politics."
According to an Associated Press report, the company said it's evaluating "potential business and regulatory implications" in relation to Russia's annexation of Crimea, which has led to restrictions on financial and banking services on the peninsula.
The fast food chain says it hopes to reopen the locations "as soon as possible." In the meantime, it's offering affected workers new positions at its Ukrainian restaurants, along with relocation pay.
In response, Vladimir Zhirinovsky, the Russia Parliament's deputy speaker, said on Russian television that he wants to see McDonald's leave Russia entirely. Zhirinovsky added that the nationalistic Liberal Democratic party he belongs to will be organizing protests at some of the 400 McDonald's locations across the country. The AP reports however that other pro-Kremlin officials say the government has no plans to shut down any McDonald's locations.
The announcement is just one addition to a growing list of small changes in Crimea since it was annexed by Russia last month. Swiss-headquartered Universal Postal Deutsche Post said earlier this week it will not be able accept outgoing mail to the peninsula anymore, stating that delivery could no longer be guaranteed. And hundreds of heroin addicts in Crimea have been cut off from a methadone program that has helped curb rising HIV rates around Ukraine since 2012.
Below, scenes from McDonald's shuttered Simferopol location earlier today:


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In Britain, GBP 468 million worth of gadgets have been thrown in the bin in the past five years according to swiftcover.com.
Research of more than 2,000 UK adults revealed that more than 300 million gadgets – an average of six per person – worth £15bn, have been bought in the past five years; while a third (36 per cent) of Brits have bought six or more gadgets in this time. Furthermore, 1.6 million Brits have bought more than 21 gadgets since 2006, spending at least £1.5bn in the process.
With gadgets being updated so frequently – in some cases every six months, they are quickly superseded by new models. So much so that a third (35 per cent) of all gadgets bought in the past five years are no longer in use by the original owner, while 27 per cent of people use less than half of their purchases.
James Barclay, home insurance manager at swiftcover.com, said: “We’re most definitely a gadget nation and our thirst for the newest and the best is growing rapidly, apparently regardless of any financial restraints we currently have.”
Of those now not used, the location of 60 per cent of gadgets isn’t known by their owners. Furthermore, according to swiftcover.com 9.3 million gadgets worth at least £500 million have been discarded and thrown in the bin. Interestingly, recycling (19 per cent) or giving the gadget to friends or family (21 per cent) is common for gadget loving Brits while 16 per cent have resold their item to recoup costs or enable the purchase of new gizmos.
The research also highlighted differences between men and women: while 40 per cent of women choose to recycle or hand-down gadgets to friends or family, a third (31 per cent) of men preferred to sell or discard their unwanted gadgets.
Barclay continued: “The lifespan of a gadget is getting shorter and shorter as they are being replaced by more up to date and in many cases, more expensive models. Having the right insurance in place is essential otherwise the risk of losing thousands of pounds worth of gadgets and their content is very real.”
A third (29 per cent) of those who’d bought gadgets in the past five years assumed that their contents insurance covered all of their gadgets. More concerning was that 36 per cent of those surveyed said that they ‘hadn’t insured any gadgets’.
The research was commissioned for swiftcover.com’s home insurance product, which includes £500 cover for digital assets such as MP3s or films stored on a computer or digital media player, alongside competitive cover for gadgets and home entertainment systems.
Source : swiftcover.com


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Is Queensland’s property market finally outpacing NSW?
Queensland has become the state to watch when it comes to property, following its strong response to the COVID crisis an...
A review of property auctions and private sales in Melbourne by the Real Estate Institute of Victoria (REIV) has revealed more expensive property markets are favouring sale by auction, while private treaty remains the sale method of choice in more affordable markets.
They are also all more expensive than the median Melbourne price, a simple sign that the more expensive a home is the more likely it is to be offered at auction, according to the REIV.
“Indeed, in the most recent June quarter, the median price of houses sold at auction was $730,000 and for those at private sale it was $500,000,” it said.
At the other end of the scale, five suburbs that recorded 95 per cent of sales by private sale – Pakenham, Point Cook, Werribee, Cranbourne and Melton – have two factors in common: they are growth suburbs and they are affordable, according to the REIV.
“This data should serve as a reminder to buyers that while the week-by-week clearance rate is an interesting barometer of the market, it won’t tell you a lot about demand in the more affordable or outer suburbs.”


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This has resulted in some retailers rationing the commodity to three packetsÂ of one kilogrammes to an individual. At the same time, some traders in some localities are selling the packet at as high at K300 (about $1.80) per one kilogramme against the retail price of K220 (about $1.32) in some chain stores such as Shoprite, Peoples and Metro.
The erratic supply of sugar on the market has become more visibleÂ in the past two months with the shortage of brown sugar.
In a normal season, Illovo produces about 300Â 000 tonnes of sugar, 60 percent of which is sold locally and the rest exported to markets in the European Union (EU), USA and the African region, according to the company.
Illovo public relations officer Irene Phalula told Business News on Wednesday that they have information that some traders are exporting their commodity to regional markets where it is also on high demand. She said that is not something which happens every year.
â€œThe main impact is that it [the exports] can lead to deficit in stocks meant for domestic market. However, our survey shows that sugar is generally available in main urban outlets which show that we are managing the situation sufficiently at the moment. We expect the supply situation to be normalised by April when we start our new sugar milling season,â€ she explained.
Phalula, nonetheless, said they always meet the demand of the commodity, prioritising domestic consumers first but argued the demand towards the end of last year was unprecedented.
But when asked if the company has complained to the authorities on the behaviour of some traders exporting the commodity, Phalula said: â€œThe authorities are aware of the situation and we are confident that a solution will be found.â€
But director of trade in the Ministry of Industry and Trade Derby Makwelelo disputed Illovoâ€™s assertions on exports and attributed the shortage of the commodity to the non-function of some of their machines.


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Surprises in every corner at Chacharas Gema
Last updated 7/12/2020 at 6:17am | View PDF
Chacharas Gema is a little shop at 7th Street that is filled with surprises.
Owner Gema Garcia Hernandez greets all who enter with a warm welcome.
Hernandez, originally from El Grullo, Jalisco, Mexico, arrived in Wasco 19 years ago in 2001 and has owned the shop since 2002.
Hernandez said she and her family were looking for a place to set up their shop and decided to look in Delano; however, after stopping in Wasco first, they spotted the downtown and liked what they saw.
"We owned the same type of business in our hometown in Mexico," she said.
"We are a family of five that came from Mexico trying to look for a better life for our sons and for them to have a better life and work opportunity. " She added that the family has lived a happy and prosperous life in Wasco. "All my sons are very responsible men that went to school," she said. "Now they have good jobs where they can help better the community."
Chacharas Gema carries a little bit of everything, from small packs of snacks, household cleaners, gift bags, hardware, to kitchen items and balloons.
"Our biggest sellers are gifts, accessories and cosmetics," Hernandez said.
"I like Wasco because it's a very commercial town and a lot of people come to purchase from neighbor towns," she said. "Also because people are very friendly and calm."
One of her concerns is the delinquency in the city. "I would like Wasco to have more vigilance or security and to better the green areas of the town," she said. "I also feel like the town needs to add some public restrooms downtown."
Hernandez said she belonged to the Downtown Business Association for four or five years, but that she doesn't currently belong to it.
"I feel like years ago, the town was more worried about local businesses and would help promote local businesses, but that has stopped," she said.
Hernandez said her family lived in Wasco for eight years, but now live in Shafter.
Chacharas Gema is located at 911 7th St. The store can be reached at 661-758-3664.


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3 Ways the Collaborative Economy Is Shaking Up Real Estate
The success of companies like Uber, Airbnb, and WeWork has helped usher in a new era known as collaborative consumption. The previously unknown concept of moving towards a bartering system rather than the old ownership models that we’ve grown accustomed to gives individuals the opportunity to rent or borrow goods and services from someone else. Where taxi companies would historically buy cars, Uber drivers use their own vehicle while the company brokers the deal between the customer and the driver.
For Commercial Real Estate, specifically, the success of the collaborative economy has helped create disruptions in the industry. Suddenly, developers aren’t doing things the way they used to. Instead, they’re looking at ways to integrate collaborative consumption, rather than work with it.
1. A Larger Move towards Co-working Spaces
When co-working office space companies like WeWork first started appearing in cities across the country, the office industry didn’t think much of it. After all, this portion of commercial real estate was historically one of the most resilient to change and disruption. But after the co-working industry started to get a bigger portion of the market as more corporations explore co-working office solutions, titans in the traditional office industry are being forced to come up options to compete with their young competitors, including coming up with their own co-working models.
2. Ridesharing Is Changing the Way Developers Allocate Space
In cities like San Francisco and Oakland, where parking spaces are a limited and precious commodity, the success of ridesharing companies like Uber and Lyft couldn’t have come at a better time. Their popularity has helped encourage a lot of residents to ditch their cars and embrace bicycling and ridesharing.
This shift towards ridesharing has even caused San Francisco to look into converting some on-street parking spaces into designated pick-up spots, in hopes of reducing congestion. For multifamily developers, this has helped reduce the need for large parking lots. Instead, parking areas have become smaller, and the excess land can be turned into something useful to everyone – like a multipurpose area or small store.
3. The Airbnb Model Comes to Retail
Airbnb has created a significant challenge in the hotel industry by attracting a market that would rather live like a local when traveling rather than staying in hotels. But in the retail industry, Airbnb’s business model has been used successfully with companies like Store Front and Appear Here connecting companies looking to rent temporary stores for pop-ups, events, and other functions with available retail spaces. And with properties available by the day, month, or week, businesses can easily use these locations to help them with market research and expansion, as well as short-lived sales campaigns.
Adapting to an Ever-Changing Market
We’re living in a time of innovation and disruption, where we’re constantly learning new ways to use technology to enhance our lives. For this reason, it’s important that professionals working in CRE take the necessary steps to stay up to date with changes in the industry so that they’re not left behind.


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(Bloomberg) -- An index tracking expected business conditions in South Africa’s manufacturing industry rose to an 11-month high in January, with purchasing managers expecting improved global economic conditions to outweigh the effects of intense power outages and other domestic headwinds.
The gauge, which measures expected business conditions in six months’ time, rose to 63.8 from 54.9 in December, Absa Group Ltd. said Wednesday.
The increase, likely driven by better expectations for the global economy, is encouraging “given the poor potential for the domestic economy to accelerate demand growth for factory goods,” the lender said. “There are more signs of the European economy avoiding a near-term recession and the reopening of the Chinese economy providing a further boost to global demand.”
South Africa is suffering its worst bout of electricity rationing yet, with state-owned utility Eskom Holdings SOC Ltd. implementing rolling blackouts on 205 days last year and every day so far in 2023. The outages, which are needed to protect the grid from collapse when Eskom’s plants can’t meet demand, are curbing activity in Africa’s most industrialized economy.
The central bank last week cut its economic growth forecast for 2023 to 0.3% from 1.1%. Its projection assumes the blackouts, known locally as loadshedding, will shave two percentage points off output growth. Economists in a Bloomberg survey predict there’s a 45% chance of the nation slipping into a recession this year.
The overall purchasing managers’ index dipped to 53 from 53.1 in December. While an outcome above 50 signals expansion, “continued activity growth would require a sustained improvement in demand and most likely a move to less intense stages of loadshedding,” Absa said.
The manufacturing sector accounts for about 14% of South Africa’s gross domestic product.
--With assistance from Rene Vollgraaff.
©2023 Bloomberg L.P.


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2 Beaten-Down Growth Stocks With 90% or More Upside Potential in 2024
This year's artificial intelligence (AI) boom has benefited many industries, but particularly the technology sector. While tech stocks are riding the AI wave, some overlooked, undervalued stocks in other sectors also have the potential to grow exponentially in the long run.
Here, we'll look at two such growth stocks that, in my opinion, have yet to reach their full potential. My first pick is Xencor (XNCR), a clinical-stage biotech company that is working diligently to beat life-threatening diseases. Investing in biotech companies has its perks, as healthcare products constantly remain in demand, regardless of the state of the economy.
My second choice is multi-state cannabis operator Trulieve Cannabis (TCNNF). Cannabis stocks have had a bumpy ride, going from a high in 2021 to a low now. However, a TD Cowen analyst believes “legalization of cannabis is inevitable,” though it may take a few years. This implies that cannabis companies with strong fundamentals, such as Trulieve Cannabis, would be good buy-and-hold stocks for long-term investors.
So far in 2023, Xencor shares have fallen 22%, while Trulieve’s shares have dipped 24%, underperforming the S&P 500 Index’s ($SPX) gain of 19%. Nevertheless, Wall Street believes that these two growth stocks have 90% to 100% potential upside by the end of 2024.
The Case For Xencor
The California-based clinical-stage biotech company Xencor has made significant strides in the development of novel antibody therapeutics to treat hard-to-treat life-threatening health conditions. With its innovative XmAb technology platform, Xencor has emerged as a key player in the biotech industry.
Its cutting-edge XmAb platform enables the modification of antibodies to improve their stability, potency, and half-life, thereby improving their efficacy in treating a wide range of diseases.
The company continues to heavily invest in research and development to strengthen its product pipeline, with those expenses totaling $65 million in Q3. Plus, Xencor’s strategic partnerships with bigger biotech firms like Amgen (AMGN), Janssen Biotech, Gilead Sciences (GILD), and Omeros Corporation (OMER) to develop antibodies may help the company turn a profit soon.
Furthermore, Xencor's sale of Ultomiris and Monjuvi OMERS Life Sciences royalty interests resulted in a cash inflow of $215 million to its balance sheet. Xencor was also wise to halt the development of the XmAb104 bispecific antibody based on efficacy data and redirect resources to more important projects.
The company had a cash balance of $541.4 million at the end of the quarter. According to management, the "cash runway now extends into 2027."
Xencor's engineered antibodies hold enormous promise in the treatment of various cancers, autoimmune disorders, and infectious diseases, increasing the likelihood of more strategic partnerships, thus adding to the company's revenue in the future. Analysts expect Xencor’s full-year 2023 revenue to increase by 18.6% to $195 million.
Overall, Wall Street remains bullish about Xencor's long-term prospects, rating it a "strong buy.” Of the 12 analysts covering XNCR, 10 have a “strong buy” recommendation, one has a “moderate buy” rating and one suggests a “strong sell.”
The analysts’ average price target of $39.67 represents a potential upside of about 97% from current levels.
The Case For Trulieve Cannabis
Investors' interest in cannabis stocks may have waned as a result of the lack of progress toward federal legalization. The industry as a whole, on the other hand, is experiencing explosive growth. According to Statista, the global cannabis market could grow at a compound annual growth rate of 15% to be worth $102.9 billion by 2028. This may be part of the reason why Wall Street is so bullish on multi-state operators like Trulieve Cannabis.
Founded in 2016, Trulieve swiftly transitioned itself from a small medical cannabis retailer in Florida to a leader in the U.S. cannabis industry. Initially, the company only focused on its home state of Florida, where it has established a dominant position with around 130 stores.
Trulieve has now spread its roots to other states, with 190 stores nationwide offering the best range of medical and recreational cannabis. Furthermore, Trulieve's acquisition of peer cannabis company Harvest Health in 2021 gave it a stronghold in the cannabis markets of the northeast, southeast, and southwest.
Due to the oversaturation of the American cannabis market, Trulieve's total revenue fell 7% to $275 million in the third quarter. While Trulieve isn’t profitable yet, it has managed to be profitable from an operational standpoint in the last few years, thanks to its focus on not going on an expansion spree. Its adjusted EBITDA in the quarter came in at $78 million, compared to $100 million in the year-ago period.
Trulieve ended the quarter with around $200 million in cash and cash equivalents. It also generated a free cash flow of $87 million. Trulieve’s debt-to-equity ratio stands at 0.62. A higher ratio could imply a company’s heavy reliance on debt to carry out its operations.
Overall, Wall Street rates Trulieve Cannabis stock as a “buy” with an average target price of $11.22. Valued at a market cap of $1.1 billion, analysts foresee Trulieve stock rising by 89% in the next 12 months.
Analysts predict an increase of 0.29% in total revenue to $1.12 billion in 2024. Trading at 1 times forward 2024 projected sales, Trulieve is ridiculously cheap for a growth stock in a lucrative industry that has high-growth potential.
On the date of publication, Sushree Mohanty did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.


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JULY 15, BERLIN—International gaming seat specialist Secretlab today announced a partnership with StarLadder to become the official choice of gaming seats for the highly-anticipated StarLadder Major Berlin 2019, the final of only two Counter-Strike: Global Offensive (CS:GO) Major Championships held each year, and the first-ever CS:GO Major to be hosted in Berlin, Germany.
The StarLadder Major Berlin 2019 – which takes place from August 23 to September 8 – is the most important tournament of the year for teams, particularly being the final CS:GO Major of the year for the likes of legendary Astralis and current #1 CS:GO seeds Team Liquid, to prove their mettle. Astralis and Team Liquid have already qualified for this event based on their performance at the previous CS:GO Major, along with 11 other teams. The final 11 spots will be decided through the Minor Championships starting this week.
This is the first CS:GO Major tournament that StarLadder is hosting and boasts a whopping $1 million prize pool, with the winning team taking home $500,000. It will also be hugely watched by fans all over the world – with last year’s CS:GO Majors raking in 47.2 million and 49 million viewers respectively, ranking only behind the League of Legends 2018 World Championships and Dota 2‘s The International 2018.
To ensure the best player performance, the top S-Tier CS:GO tournament will be equipped with the world’s top-rated gaming seats, particularly the all-new Secretlab Classics* – the result of 3 years’ extensive R&D as well as rigorous quality and durability testing and certification – to comfortably support the players, as well as casters, for the matches and training sessions during the course of the qualifiers and the tournament.
*Secretlab Classics is the official collection of our 2020 award-winning gaming chairs, which includes the Secretlab OMEGA 2020, the Secretlab TITAN 2020 and TITAN XL 2020, and all their Special Edition (SE) variants.
Said Ian Alexander Ang, co-founder and CEO of Secretlab: “We’re proud to provide our award-winning chairs to support these top Counter-Strike: Global Offensive players with the best sitting experience throughout the StarLadder Berlin Major so they can deliver the best gaming showing of their lifetimes. CS:GO players today are rightfully selective about only using the best-quality gear – even tilting their keyboards to give themselves a performance edge. This is what Secretlab chairs are engineered for: To perfectly complement and support every gamer’s unique sitting preference regardless of game, from the fully-adjustable armrests to the backrest – giving the best comfort and optimizing their performance.”
Said Alexander Chegrinez, Chief Business Development Officer at StarLadder: “Partnering with the world’s best gaming equipment brands to support the most talented and top CS:GO players is of the utmost importance as tournament organizers. Secretlab was the clear choice as a gaming product leader; their gaming seats are of unmatched quality. Having sat on their award-winning chairs ourselves, we are confident their gaming chairs would complete every CS:GO professional’s list of essential gear for top gaming performance.”
Secretlab was established in 2014 to create the pinnacle of gaming seats – each extensively designed and engineered with only materials of the highest grade to ensure absolute comfort and unparalleled support. Today, Secretlab is the global choice of gaming seats for premier gaming tournaments, top esports professionals and over 100,000 satisfied users from more than 50 countries worldwide, alongside rave reviews from international media publications. And we’re only getting started.
Founded in 2001, StarLadder, one of the global esports industry leaders, has been hosting proprietary international tournaments StarSeries and Invitational in CS:GO, Dota 2, PUBG and HearthStone. StarLadder is known for its high quality and innovation in handling event management, studio and video production, live streaming for global audiences and supporting its online platform for amateur, semi-pro and professional tournaments. For more information on StarLadder please visit www.starladder.com.


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The entire presidential campaign season this year has been dominated not by substance or ideas, but by negativity and personal attacks. It’s all kind of gross, really, and it came to a head yesterday when Mother Jones released a video of Mitt Romney basically dismissing 47 percent of America as deadbeat mooches who pay no taxes, take no personal responsibility themselves, and dine each night on expensive government cheese. Mmmmm. Government cheese (no seriously: Growing up, I knew kids who got government cheese, and that sh*t was awesome. It taste SO good after a crack rock).
Basically, Romney is speaking to most of our readership, and the fact that you’re all reading this when you SHOULD BE WORKING totally proves his point, right? (Side note: Think of how much extra money the government could generate if those welfare and Social Security checks came in coupon booklets sponsored by corporate grocery brands, or they had to click on a website ad to receive their money. Think of the THOUSANDS of pennies the government would save! Oh, wait? What am I thinking. Like all of you tax-avoiding mooches, they’ll just complain about the ads or install adblock.)
Anyway, where was I? Oh yes: The substance-free presidential campaign. Well, things are about to change because Jon Stewart and Bill O’Reilly have agreed to a 90-minute debate on October 6th, billed as “The Rumble in the Air-Conditioned Auditorium.” The two have debated frequently and mostly respectfully on each others’ shows many times over the years (and their mutual respect/disdain for one another is kind of adorable), but a 90-minute debate will give them an opportunity to really get to the meat of the substance, or more likely, give Bill O’Reilly more time to SHOUT.
It’s going to be kind of awesome, and surely more informative than the actual presidential debates, which will probably entail Obama trying to run down the clock while Romney sneers atop his podium made of $100 bills and gold bricks.
Here’s a promo for the debate, which will cost $4.95 to watch, and all proceeds will go to various charities.
Also, Maguita NYC has suggested that we do an open thread during the debate, and I think that’d be great. Consider it done. Be back here on October 6th, and bring your personal attacks and negativity.


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Mitutoyo America - Search Results
Articles About Mitutoyo America
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News about the newest products from the Gear Industry
News about the latest products in the industry.
News from around the Industry
The secret to meeting today's inspection demands is influenced by the technology and those in charge of operating it.
he complete Industry News section from the November/December 2021 issue of Gear Technology.
News about the Latest Products
The complete Industry News section from the November/December 2013 issue of Gear Technology.
Move over, Michael Jordan. While the Addendum staff is as proud as any other Chicagoans of our unbeata-Bulls, we confess to a soft spot in our hearts for the hometown's other championship basketball team: The Chicago American Gears.
The complete Product News section from the July 2014 issue of Gear Technology.
The latest video from Koepfer America, Sandvik's Gear Up event and IMTS product previews
Are trains still a growth industry prospect for manufacturers?
Herman Riccio, Chicago Gear Works President, to Retire; Gleason Opens MI Sales Office; American Pfauter hires Steve Peterson; plus AGMA's technical calendar for the Fall of 1984.
Gear Technology speaks with David Goodfellow, president of American Pfauter, L.P., and Pfauter-Maag Cutting tools, L.P., to get his impressions about the state of the gear industry and its prospects for the future.
Industry News from October/November 1984 Gear Technology.
The complete Product News section from the November/December 2014 issue.
Borazon is a superabrasive material originally developed by General Electric in 1969. It is a high performance material for machining of high alloy ferrous and super alloy materials. Borazon CBN - Cubic Born Nitride - is manufactured with a high temperature, high pressure process similar to that utilized with man-made diamond. Borazon is, next to diamond, the hardest abrasive known; it is more than twice as hard as aluminum oxide. It has an extremely high thermal strength compared to diamond. It is also much less chemically reactive with iron, cobalt or nickel alloys.
Gleason 350GMS helps put higher quality, more reliable gears into its next-generation TC10 automatic transmission.
Latest News from around the industry
News about the Latest Products
It's hard to think of a show more essential to attend than IMTS. It's the cornerstone event for the industry, the center of the universe for a week, the one show to rule them all.
Rolled out at EMO 2007, the Scudding process is a continuous cutting operation that uses a tool design similar to a helical shaper cutter. It can be used for a wide range of gear applications...
News about all of the upcoming products int he industry.
The latest technology on display in Columbus, OH. October 24-26.
This special edition of Product News includes highlights from Gear Expo 2017 of new products that caught the editors' eyes.
Safe cutting tool clamping, superfinishing gear shafts, gearbox parts cleaning, gear deburring and more new gear-related products.
Back around 2005-2010, the most exciting things that were happening in broaching had little to do with broaching. What was happening - and continues to evolve today - was the emergence of on-the-edge CNC, software and servo drive technology. Together, they practically transformed a metalworking process as old as water into a viable, alternative consideration for producing high-volume part runs.
Furnaces North America Exhibition Highlights Future of Heat Treating.
The complete Industry News section from the November/December 2018 issue of Gear Technology.
Motion + Power Technology Expo VIP Exhibitors special advertising section.
Faster, more efficient manufacturing offered with table-top design from American Broach & Machine.
The latest news from Nordex, Gleason, Solar Atmospheres, and more.
The latest news AGMA Foundation, DVS Technology Group, Mitutoyo and more.
New machining fluids for automotive, jaw boring rings, virtual machine simulation and coordinate measuring software are highlighted in the March/April 2018 issue of Gear Technology.
Mitutoyo offers capable, affordable and flexible gear inspection option via coordinate measuring machines and gear inspection software.
The complete Product News section from the January/February 2013 issue of Gear Technology.
The complete Industry News section from the January/February 2013 issue of Gear Technology.
The complete Product News Section from the August 2013 issue of Gear Technology.
The complete Industry News section from the August 2014 issue of Gear Technology.
The complete product news section from the September / October 2014 Issue Gear Technology.
News about the latest products in the industry.
News on the latest products in the industry.
The latest in machine tools, cutting tools, inspection equipment, shop floor gages and other products for the gear industry.
The latest from Liebherr, Gleason, Klingelnberg and more.
See the latest gear industry products from Marposs, GWJ Technology, Norton|Saint Gobain, Mitutoyo, C&B Machinery, DMG Mori, Gear Motions and LK Metrology.
Gear-related new technology from Affolter Group, Liebherr, PTG Holroyd, BMW Motorrad and more.
The complete Product News section from the January/February issue of Gear Technology.
The complete Product News section from the March/April 2019 issue of Gear Technology.
The complete Product News section from the September/October 2019 issue of Gear Technology.
The complete Product News section from the November/December 2019 issue of Gear Technology.
The complete Industry News section from the November/December 2019 issue of Gear Technology.
The complete Product News section from the May 2020 issue of Gear Technology.
Gear inspection has long been a highly specialized costly investment and an overall challenging part of the gear manufacturing process. Given that complicated gages, testers, and CNC equipment all go into creating high quality gears, companies may want to invest in a CMM to streamline inspection.
The complete Product News section from the September/October 2020 issue of Gear Technology.
The complete Industry News section from the September/October 2020 issue of Gear Technology.
When it comes to modern gear measurement, there are still essentially two primary tools that shops use. The first is a machine dedicated solely to measuring gears, which had been the primary method for many years, until recently.
The latest news from GKN, Milan Manufacturing, Solar Atmospheres, Heidenhain, Furnaces North America, Gleason, Haas Multigrind, Schunk and Michigan Metrology
News Items About Mitutoyo America
1 Mitutoyo America Releases New MeasurLink Collection Schedule Module (January 19, 2021)
Mitutoyo America Corporation is pleased to announce the release of a new module into its MeasurLink Suite.MeasurLink’s Collection S... Read News
2 Mitutoyo America Introduces FORMTRACER Avant Series (October 5, 2020)
Mitutoyo America Corporation has announced the release of the FORMTRACER Avant Series Contour and Surface Roughness measuring system. The... Read News
3 Mitutoyo America Launches CRYSTA-Apex V Series (August 25, 2020)
Mitutoyo America Corporation is pleased to announce the release of the CRYSTA-Apex V Series to its Coordinate Measuring Machine product l... Read News
4 Mitutoyo America Expands Custom Solutions Offerings (August 14, 2020)
Mitutoyo America Corporation is pleased to announce the expansion of its Custom Solutions offerings. Mitutoyo will now offer &ldquo... Read News
5 Mitutoyo America HR-530 Rockwell Hardness Testers Features Unique Electronic Control and Inside Ring Hardness Testing (February 16, 2018)
Mitutoyo America Corporation is pleased to announce the release of the latest Rockwell Hardness Testers in its HR-530 Series, including t... Read News
6 Mitutoyo America Corporation Announces Personnel Changes (March 31, 2017)
Mitutoyo America Corporation (MAC) has announced organizational changes. For the past 10 years, Shigeyuki Sasaki has provided leader... Read News
7 Mitutoyo America 519 Series Mu-Checker Probes and Displays Allow Multi-Point Measurements of Small Parts (July 21, 2016)
Mitutoyo America Corporation introduces the 519 Series of high-accuracy Mu-Checker probes and displays. These electronic gaging systems a... Read News
8 Mitutoyo America Announces Opening of 35,500-Square-Foot Facility (July 19, 2016)
Mitutoyo America Corporation announces the grand opening of the newly renovated M3 Solution Center in City of Industry, CA. This nea... Read News
9 Mitutoyo America Corporation Announces New East Coast M3 Solution Center (May 28, 2015)
Mitutoyo America Corporation recently announced the opening of a new M3 Solution Center in New England. Located in Marlborough, MA, the n... Read News
10 Mitutoyo America Corporation Announces New President (December 9, 2011)
Shigeyuki Sasaki has been appointed the new president at Mitutoyo America Corporation, headquartered in Aurora, Illinois. Sasaki has serv... Read News


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Across the apparel specialty retail sector this season, "Help Wanted" signs are almost as visible as point-of-sale markdowns, with an unprecedented number of top-level jobs up for grabs.
This is the time of year when retailers release their fourth-quarter and year-end results and, at those chains having tough times, also let go executives from their jobs, figuring fresh blood is needed to turn things around.
While there are standouts in the sector — such as J. Crew, Abercrombie & Fitch and American Eagle Outfitters — many well-known names are struggling with sluggish growth or sharply declining profits, like Gap Inc. These retailers have serious issues revolving around product, positioning and execution and are challenged by an aging population and a lack of management bench strength.
"I don't think there is a common denominator, but there is an unusual number of vacancies. This is a very good time to be a candidate," noted Hal Reiter, president and chief executive officer of Herbert Mines Associates search firm.
In most cases where big jobs must be filled, "companies are looking for the great creative talent who can enhance the brand through the product and the marketing," observed Margaret Mager, retail analyst and managing director for Goldman Sachs & Co. "That type of commercial/creative talent is a scarce commodity. Truly creative geniuses you can count on one hand. Specialty chains also want people who can lead organizations, translate vision and get groups to execute on a vision. That's rare, too. At the end of the day, you can't institutionalize creativity. Technology is a wonderful thing for business, but it also has the ability to stifle creativity. Great merchants like Mickey Drexler and Michael Jeffries came of age when technology didn't stymie creativity."
The dearth of merchant talent is an issue across the entire retail industry, but analysts and headhunters agree the brain drain is acutely apparent in the fashion specialty sector, underscored by the situation at Gap Inc., which has several executive slots to fill. Gap will begin its hunt for a new ceo in earnest this quarter. A search firm is expected to be hired soon. "We're not sitting idly," said Robert Fisher, chairman, during a conference call last Thursday. He's been the interim ceo since Paul Pressler was pushed out last January and said he has no intention of taking the ceo job permanently.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"


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The UK's ramping up its focus on transport technology with the launch of a new hub for developing driverless car technology.
The plans to create a testing "corridor" along the M40 between London and Coventry with bases in the midlands city and Stratford are part of £100m of investment in the technology promised by the government industrial strategy.
Meridian, announced today by industry and climate change minister Claire Perry, will also involve private business and is also seeking to attract foreign investment.
"The Meridian co-ordination hub embodies this ambition, creating a globally recognisable brand that will bring the automotive sector, academia and Government together behind a common set of strategic goals," said Perry.
A fresh government report estimates that connected and autonomous vehicle (CAV) technology wil be worth £907bn globally by 2035 and £52bn in the UK alone, creating 27,000 job, the majority of which will be highly skilled.
"... through government investment and collaboration with industry in this area we will ensure that the UK becomes one of the global ‘go to’ destinations for the development of this technology," Perry added.
Graham Hoare, Ford's director of global vehicle evaluation and verification an chair of the Auto Council Technology Group, said: "The UK has long-standing capabilities across many of the sectors supporting new vehicle technologies and an approach that is more open and collaborative than other markets."
Meanwhile, a new startup accelerator has been launched to help innovative firms developing transport technology.
The new programme from Wayra, the startup incubator of mobile giant Telefonica, and the Transport Systems Catapult, the government's transport innovation centre in Milton Keynes, is seeking startups from across the "intelligent mobility" sector tackling issues such as congestion and overcrowding, emissions and safety.
Network Rail and tech consultancy ThoughWorks will also be involved in mentoring the startups over the six month scheme.
“Transport is an area where data-driven tech solutions are already making a huge difference to the lives of billions – from the development of the Oyster card to the creation of journey helpers like Citymapper," said Wayra UK director Gary Stewart.
Through this innovative programme, we hope to support the development of the next generation of transport systems breakthroughs and contribute further to making the UK the best place in the world to scale a transport start-up.”
The latest efforts follow millions of pounds handed out over the summer to groups developing driverless car technology. One of them, Driven, this week unveiled its protoype model vehicles which will soon be seen tested on the roads around Oxford.
A startup involved in another group testing the tech, Five AI, this week landed £14m in fresh funding from a line up of top investors, including an early backer of Facebook and Spotify in a fresh boost for the UK's expertise.


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Samsung Galaxy S22 series tipped to start at $799
Samsung is gearing up to launch its flagship Galaxy S22 series at the "Galaxy Unpacked 2022" event on February 9. In the latest development, tipster Anthony has revealed prices of the Galaxy S22, the S22+, and the S22 Ultra. As per the leak, the lineup will start at $799 (roughly Rs. 60,000), which is similar to the launch price of the Galaxy S21 series.
Why does this story matter?
For those wondering whether the leaks and rumors about the Galaxy S22 series have come to an end now that Samsung has set the launch for February 9—they have not. This time, it is the alleged prices of the handsets that have found their way online. With only a few days to go, we are certain that there is more news to come.
The S22 Ultra will have a QHD+ AMOLED screen
The Galaxy S22 series will have a punch-hole cut-out on the top-center, slim bezels, and an in-display fingerprint sensor. The S22 and S22+ will sport a 6.1-inch and 6.6-inch Full-HD+ AMOLED display, respectively, while the S22 Ultra will feature a 6.8-inch QHD+ AMOLED screen. The S22 will have 1,500-nits of peak brightness; the S22+ and S22 Ultra will come with 1,750-nits of peak brightness.
The S22 Ultra will have a 108MP main camera
The Galaxy S22 and S22+ will flaunt a triple rear camera arrangement, comprising a 50MP primary shooter, a 12MP ultra-wide sensor, and a 10MP telephoto lens. They will sport a 10MP selfie snapper. The S22 Ultra will boast a 108MP main sensor, a 12MP ultra-wide lens, a 10MP telephoto shooter, a 10MP periscope snapper with 10x optical zoom, and a 40MP selfie camera.
They will run on One UI 4.1
The S22 series will be powered by an Exynos 2200/Snapdragon 8 Gen 1 SoC, mated with up to 12GB of RAM and up to 512GB of storage. The S22 will pack a 3,700mAh battery with 25W fast-charging support, while the S22+ and S22 Ultra will house a 4,500mAh and 5,000mAh battery, respectively, with 45W fast-charging capability. They will boot Android 12-based One UI 4.1.
Galaxy S22 series: Pricing and availability
The official pricing and availability details of the Galaxy S22 series will be announced at the time of its launch on February 9. However, as per leaked details, it will start at $799 (around Rs. 60,000), while the base version of S22+ will cost $999 (approximately Rs. 75,000). The top-tier S22 Ultra is likely to start at $1,199 (around Rs. 90,000).