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Credit Crisis: The Smell of Fear
As “Needs” Out Do “Wants” Retailers Need to Adjust Sales Strategy
In the last few weeks, the stock market has seen more ups and downs than Coney Island’s Cyclone, with none of the fun and all of the nausea. However, even before banks and insurance companies began to tank, sales predictions for the holiday season weren’t exactly stellar. Many of the experts Picture Business spoke with for the holiday issue (August) were pretty certain consumers would be tightening their belts. But few thought the consumer electronics category would take a big hit-until now.
Back in August, Jason Goldberg, VP marketing, MTI, state, “Obviously, we’re not in a very good economic climate, but consumer electronics in general has weathered the storm far better than most other product categories. What tends to happen in the tight economic times is consumers tell us they’re going to spend considerably less on gifts than the year before. But in practice they spend very close to what they’ve spent in the past.”
Want Verses Need
Jeff Green, president and CEO of Jeff Green Partners, also thought electronics would continue to be strong compared to apparel, furniture and toy retailers. “But because of the credit crunch,” Green now says, “people are going to be spending on needs, not wants, which is a real big issue as it relates to consumer electronics.”
“But when you think about most of (the product offered) by photo and consumer electronics stores, those are wants. And that’s where I really think we’re going to see some big hits. For instance,” he notes, “Circuit City just put its entire expansion on hold though 2010 and its current sales are down,” The company, whose stock once sold for $9.65 per share and recently closed at .57 cents, has also put the brakes on expansion of its CarMax dealerships. “Yet, Best Buy, which was also down (sales were off 19 percent in the second quarter but rose 6.7% in the third quarter), is not down anywhere near that,” Green added. According to the company, the earning drop was partly due to increased spending for store enhancements and the rollout of its Best Buy Mobile concept, which was completed in August. Best Buy also plans to open about 150 new stores globally in 2009, which is up from its previous estimate of about 130 to 135 stores.
Even though Wal-Mart, the world’s largest retailer, had an increase of 8.8% over third quarter fiscal year 2007, it has already slashed prices on popular toys for Christmas. So has KB Toys, which cut prices on more than 200 items to $10 or less so consumers can get more for their money. “It will be interesting to see if Christmas will really be all about necessities (though not for children),” wonders Green.
So, does this mean the hot item this year will be gift cards to the local supermarket? “I think, as always, (retailers) with hot items will do well, especially with kids and grand kids, states Jim Bieri, CEO, The Bieri Company, a leading national retail real estate consulting firm. “My experience in watching these things over the years is, if you have something hot-it’s the right look and fashion-you’re still going to move it out the door.”
“I think the second major category is those that offer real value, whether it’s every day value like Wal-Mart or Costco, or those that do early discounting,” In addition, notes Bieri, many retailers have planned for reduced sales and traffic. “People don’t buy like they used to, “ he says. “For instance, in the past people bought for the fall season eight months in advance. The buying cycle has really shortened up for many retailers, “ Another reason for lackluster sales, he notes, is many people have all the stuff they need or maybe they’re recognizing they don’t need so much stuff.
Green believes, this year, whether people have money or not, they will start cutting back because they’re going to be nervous about their adjustable mortgages, and high fuel and food prices. In turn, retailers will need to buy smart, “ states Green, “which means they shouldn’t over buy for the season. The worst thing that can happen is you’re stuck with too much merchandise.”
“The days of ‘euphoric’ spending have gone by the wayside,” adds Bieri. “We were a nation on credit, and we continue to be on credit because that’s how we are.” So what’s a retailer to do? “Smaller retailers,” says Bieri, “as always, have to be somewhat unique. They have to really push perception of value. The small retailer can give value to their customers via service and personal interaction as much as by the product itself. The advantage a small retailer has over chain shopping is creating relationships with their customers,” he reiterates. “You can’t go into your shell. You can’t let (the economy) be a self-fulfilling prophecy. Beyond extending yourself and trying to form relationships to the customer, what else are you going to sell that customer? Think it out and make it available to them,” concludes Bieri.
On October 13, the stock market rallied and had its biggest gain ever, but plummeted again on a day or two later. However, consumers and retailers are hanging in there, for better or for worst. And for some like Wal-Mart and Costco, tough times for consumers can mean boom times for them. As Green predicts, “The crowds at Wal-Mart are going to be amazing”


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With the announcement of iOS 10 this month, I’m sure a lot of you are wondering what’s new in the latest version of Apple’s operating system. From a completely revamped Messaging app to better notifications and a focus on widgets, here’s the best new features in iOS 10 that you can expect come fall when it’s released to the public.
See Also: Don’t want to wait? Try iOS 10 beta for yourself right now. No developer account needed.
Raise to Wake
Apple has added a small feature in iOS 10 that I personally have been waiting for because I feel like it makes a big difference in my daily use. You can now raise your phone to unlock the screen. Doing this and putting you finger on the home button (with Touch ID enabled) makes for a much smoother, quicker unlocking process.
While in iOS 9 notifications really only had two possible options: dismiss them or tap them to open the app that provided the notification. In iOS 10 however, you can now respond directly from the notification and even tap and hold to get more information about the app. Not too mention they look better now, too.
Widgets have been redesigned and are no longer in the notification center. You access them by swiping right to get to Spotlight. They are also rearrangeable, and just allow more actions than before (although still need to be fully utilized by developers once iOS 10 is available).
Swipe on Lockscreen
On the lock screen you can now swipe left to get to the camera, swipe up for the control center, and swipe right to get to the new widgets we mentioned. Of course, this does mean that a certain feature had to be removed to make room for this…
No More Swipe to Unlock
With the addition of swiping on the lockscreen for other shortcuts, Apple had to remove the swipe to unlock feature. Instead you now just tap the home button (and of course if you have Touch ID enabled that’s basically what you did before to wake the phone and have it recognize your fingerprint).
Read More: Want to never have to worry about your iPhone storage getting low ever again? Here’s my video on how.
New 3D Touch Shortcuts
Apple has added new 3D Touch shortcuts to iOS 10 including a really cool one that allows you to bring up widgets for apps by force touching them from the home screen.
The New Messages
One of the biggest updates for iOS 10 is a complete overhaul of the messages app.
What can be called the “cutesification” of messages, this new update brings larger emoji, handwriting input, doodling on photos as well as full screen animations.
In addition to the new features there is also a new app store specifically for the messaging app (taking a cue from Skype, Facebook, and WeChat no doubt) that will bring even more functionality to it.
Delete Apple Apps
Finally! We can delete Apple’s own apps from the home screen. Simply tap and hold on any and tap the X to delete them like normal. No more need for a random folder housing all your unused Apple apps.
You can also get them back by heading to the Apple store and re-downloading them.
There you go a quick overview of the biggest features. What do you guys think? Are there other big ones I missed? Let me know in the comments below!

domain: news


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Tuesday's announcement of a proposed Chrysler-Fiat alliance seemed to promise new life for the struggling Auburn Hills automaker. The Italian Fiat Auto Group, which owns the Ferrari, Maserati, Alfa Romeo and Lancia brands, will receive an equity interest in Chrysler of at least 35 percent and could get a fast track to manufacturing and distributing here in the U.S. In exchange, Fiat Group will give Chrysler a shortcut to gas-saving technologies and sporty, small-car platforms. —Jim Henry
Fiat's Modern Comeback
The Fiat brand stopped selling cars in the United States in 1982. The company left behind a poor reputation for quality summed up with the mock acronym "FIAT" for "fix it again, Tony." Yet amongst a small diehard band of collector-car owners, Fiats from the 1960s continue to be well-respected. Back home in the '80s, Fiat nearly went out of business as the European Union knocked down trade barriers protecting the Italian market from imported cars.
But since the early part of this decade, Fiat has made a comeback in profitability and in European market share. Its quality is making it competitive, according to J.D. Power and Associates. Italy is Fiat's biggest automotive entity by far, with a market share of more than 30 percent, according to Standard & Poor's.
More From Popular Mechanics
While Fiat has made its mark in recent years, it hasn't escaped unscathed from the worldwide economic downturn. The Wall Street Journal reported today that Fiat posted a 71 percent plunge in profit and is asking for as much as 5 billion euros ($6.46 billion) in loans from banks to get through hard times. Fiat is not contributing cash toward the Chrysler deal.
Fuel Sippers and Sporty Platforms: the Potential Products
What Fiat gets out of this deal, besides the potential for a controlling share of Chrysler, is access to Chrysler factories and a way to re-enter the U.S. market. The sporty Alfa Romeo brand will likely be the first to come back—hopefully bringing along the stylish Mito sport coupe.
The alliance means Alfas, Fiats and Lancias could all eventually be built in North America, which would make them more affordable to U.S. customers. To save costs, Chrysler could build its own distinct versions of the same models, badging them as Dodges, Chryslers or maybe even Jeeps.
Chrysler's current well of small cars and related technology does not run deep. The company would benefit from Fiat's small-displacement, turbocharged four-cylinder engines. The Fiat Bravo, for instance, has a tiny 1.4-liter turbo Four that produces 120 hp. Fiat has bigger versions, up to 2.0-liters, plus a number of fuel-sipping turbodiesel engines. Fiat also offers several flex-fuel models that can run on either methane or gasoline.
The retro-chic Fiat 500, launched in 2007, and the hot-rodded 500 Abarth we drove last year are hip minicars that could boost Chrysler's image if the U.S. company were to build its own distinct version. The Fiat platform underneath the Fiat 500, code named 169, already serves as the basis for the tiny Ford Ka in Europe.
Fuel economy is a growing concern for Chrysler since it has a very truck-heavy model mix. Fiat has electronically controlled automatics, such as its Dualogic transmission, that can be shifted manually or left in automatic mode. With this gearbox, the Bravo gains a 3 percent improvement in fuel economy, according to Fiat, over the same car with an ordinary manual transmission.
Fiat also has high-tech interior features like Blue & Me, a hands-free communication system developed by Microsoft, similar to Ford's Sync. Fiat said it has sold more than 500,000 cars with Blue & Me in the past two years. Fiat's EcoDrive could be a worthwhile feature to work into the Chrysler lineup as well. The system monitors emissions and fuel consumption in real time, and coaches drivers to get the best possible gas mileage.
Which specific features will Chrysler use in its products? Well, that's speculation at this point, and any of these platforms, engines or features will take a minimum of 18 months to show up in the U.S. market, perhaps longer.
Using another Chrysler joint venture as an example, it took Germany's Volkswagen AG about 18 months to develop the VW Routan, a mildly restyled version of the Chrysler and Dodge minivan, that we drove back in October . So a completely distinct Chrysler body and interior on a Fiat platform would likely take longer to develop—at least a couple of years.
What the Future Holds
In the short run, the Fiat relationship gives Chrysler a new lease on life, assuming the deal improves Chrysler's long-term viability in the eyes of the U.S. government. Chrysler received a $4 billion bailout from the U.S. Treasury Department on Jan. 2. Chrysler is seeking an additional $3 billion in government loans, but first it must submit a plan by Feb. 17 to a "car czar" yet to be appointed by the Obama administration. The plan must demonstrate Chrysler's long-term viability. That would have been impossible without the Fiat relationship or something like it, according to John Wolkonowicz, an analyst for IHS Global Insight, based in Lexington, Mass. "The probability is pretty good that they will get the second payout of $3 billion. Before [the Fiat deal was on the table], if Chrysler hadn't had a tie-up like this, I don't think they would have got the money," Wolkonowicz says. "The government wants to see really solid plans for small cars. They want to see a global footprint."
Chrysler's deal with Fiat would mirror the strategy of Ford Motor Co.—adapting European technology to meet tougher U.S. requirements for Corporate Average Fleet Economy (CAFE) standards, which are now in the pipeline. Ford in North America is getting those goodies from its own Ford of Europe operation, tapping some models that are already on sale in Europe—cars like the Ford Fiesta that impressed us on a recent test drive . GM is also mining its global operations for cars such as the upcoming Chevy Spark , developed by GM Daewoo in South Korea.
Up until now, Chrysler didn't have an option like this. In fact, Chrysler has had little presence overseas since New York-based Cerberus Capital Management purchased 80.1 percent of Chrysler in August 2007, effectively undoing the DaimlerChrysler merger. Daimler still owns 19.9 percent of Chrysler. In an interview recently Daimler spokesman Han Tjan told PM the proposed Fiat-Chrysler deal does not appear to dilute Daimler's share. He said Daimler wants to "redeem" its share of Chrysler, which amounts to selling it or otherwise getting rid of it. Daimler has already written off the value of its remaining share of the company. "We welcome any initiative that helps to stabilize the situation at Chrysler," he says, "or that helps the employment situation."


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New Delhi: Tata Motors on Monday said it has partnered with ICICI Bank to offer financing solutions to its authorised passenger electric vehicle dealers. Under the partnership, ICICI Bank will provide inventory funding to the authorised passenger EV dealers in addition to the bank's funding to dealers for diesel and petrol models, Tata Motors said in a statement.
"Our dealer network forms a part of our core support pillars, and through their constant effort, we ride the electrification wave in India.
"We are confident that through this tie-up, we will make EVs more accessible and the EV purchase process a seamless and memorable experience for our customers," Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra said.
The EV dealers can avail flexible repayment tenures through the partnership, the company said.
ICICI Bank Executive Director Rakesh Jha said the electric vehicle industry is growing at a rapid pace with the rising consumer demand for environment-friendly electric vehicles.
The head of Swiss sports bike maker KTM, which claims to be the world's No 1 premium motorbike brand and also sells tens of hundreds of e-bikes in Europe, is not confident of the capability of electric vehicles beyond a point and feels that optimism on this front is "highly overrated".
The automotive sector is one of the largest industries contributing about 7.1% to India’s GDP and generating huge direct and indirect employment. In the Union Budget FY24, the industry has got major boost towards electric vehicle manufacturing, hydrogen fuel adoption and the changing technology mix. However, there were certain misses with regards to the GST reduction.


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Logistics central: Amazon paves way for Volusia County to become a major distribution hub
DAYTONA BEACH — The increased push by retailers to provide online shoppers with same- or next-day delivery is creating a need for more distribution centers within a short drive to large numbers of customers.
That could transform Volusia County into a major distribution hub in the coming years, predicts commercial real estate broker David Murphy, an executive vice president with CBRE, a commercial real estate services and investment firm in Orlando.
"They're coming," Murphy told a recent gathering of the Volusia County Association for Responsible Development, also known as VCARD.
Noting that Volusia County is at the intersection of Interstate 4 and Interstate 95 within an hour's drive of 2.7 million residents, Murphy forecast that the Daytona Beach area will become like Lakeland within the next few years. Today, the Lakeland area is home to more than 30 distribution centers, including three Amazon facilities, as well as fulfillment centers for Publix, Walmart, Home Depot, Lowe's, IKEA, Best Buy and Rooms-To-Go.
"That will be Daytona Beach in the next five years," said Murphy. "I think in the next year or two, it's going to be mind-blowing to see the amount of industrial activity that comes in here. If you look at it from a logistics standpoint, we're perfectly situated here in Volusia County."
Trader Joe's was area's first major distribution center
The 631,000-square-foot Trader's Joe's complex on the northeast corner of I-95 and Dunn Avenue opened in June 2016 as the area's first major distribution center. It is operated by an affiliate of the California-based upscale grocery chain called World Class Distribution Inc. The 399,000-square-foot B.Braun distribution center on Clyde Morris Boulevard, about a mile south of LPGA Boulevard, opened in September 2018.
Amazon, the Seattle-based e-commerce giant, opened a 66,000-square-foot last-mile delivery station in Daytona Beach in September 2019. Exactly 12 months later, it completed a 1.4 million-square-foot fulfillment center in Deltona. It is the largest distribution center in the county and second-largest building overall, behind only Daytona International Speedway.
DEVELOPERS GETTING BUSY:Commercial projects on the rise in Volusia County
Potential sites abound
The Amazon fulfillment center at 2600 N. Normandy Blvd. is the first building of the planned Portland Industrial Park that includes land directly across the street as well as immediately south of the 12-screen Epic Theatres of West Volusia movie theater.
The owners of the remaining 129 acres at Portland Industrial Park are expected to make a major announcement soon, possibly regarding a rumored new tenant that could open a nearly 1 million-square-foot distribution center.
The industrial park has sites for several more buildings that could either become distribution facilities or used for light manufacturing.
And that's not the only place developers might be looking to add distribution centers.
Snowball effect may be starting
Helga van Eckert, economic development director for Volusia County, said the county owns a six-acre parcel of undeveloped land at the DeLand Crossings industrial park next to the I-4/State Road 44 interchange that has recently drawn interest from developers.
"Having Amazon select our county is generating interest for the whole region," she said referring to the e-commerce's new fulfillment center roughly seven miles to the south in Deltona. "It's definitely making a difference."
Keith Norden, CEO of Team Volusia Economic Development Corp., assisted Amazon in helping the company find potential sites for both its fulfillment center as well as its last-mile delivery station in Daytona Beach.
"I can tell you that we're being looked at for distribution," he said of the increased interest Volusia County has gotten from other companies now that Amazon has located its two distribution facilities here. "Our time has finally come."
A recent report by a company called Quest Site Solutions identified more than a dozen potential industrial development sites in Volusia County along or near either I-4 or I-95 that are at least 50 acres in size.
They include Ormond Crossings, the sprawling 6,000 acre parcel on both sides of I-95, south of North U.S. Highway 1 that has entitlements for up to 4,5 million square feet of commercial space, and Daytona Beach International Airport where Volusia County has 435 acres of undeveloped land south of its aircraft runways and taxiways.
Other potential industrial development sites include an 880-acre property along Indian Lake Road, north of International Speedway Boulevard in Daytona Beach, a 67-acre property along Williamson Boulevard immediately south of the Daytona Beach Kennel Club, and the 400-acre Oak Hill industry property owned by Oak Hill Ventures LLC.
Not included in that report is the 1,700 acres around the I-4/I-95/Beville Road interchange owned by the Coraci family of New Jersey.
Patrick Opalewski is a longtime area commercial real estate broker who was recently hired by the family to manage its real estate holdings here as general manager of VeeCor Property Management.
"The family had been primarily selling land to developers, but now they're interested in unlocking the value of their properties themselves," he said. "They have several very large tracts including 91 acres at the northwest corner of Beville and Williamson, 180 acres across the street on the northeast corner (of that intersection), 270 acres behind the Andros Isles Apartments and 38 acres across from the (Kennel Club) dog track on the southeast corner of Bellevue and Williamson.
"We're in the planning stages right now, considering what the best mixture of uses will be for that land. It will definitely include distribution and industrial, as well as office, flex office, retail and multifamily. We will likely begin marketing the properties in 2022," he said.
CTO Realty Growth Inc. recently announced its pending sale of 1,600 acres in Daytona Beach that includes the 856-acre industrial development site along Indian Lake Road to an Austin, Texas-based company called Timberline Real Estate Partners.
The 1,600 acres under contract include 177 acres along the east side of I-95 that extends from the new Buc-ee's gas station north to Strickland Range Road, 145 acres directly to the west on the other side of I-95, and 118 acres along the west side of Clyde Morris Boulevard, from LPGA Boulevard north to Strickland.
The News-Journal was unable to reach Timberline officlals for comment. The $67 million land sale is expected to close in the fourth quarter, according to John Albright, CTO's chief executive officer.
Albright described Timberline as a "more longer-term developer," and likely isn't buying the parcels just to sit on them. "I assume they're not going to develop everything. but will want to develop key parcels."
John Wanamaker, the broker/owner of Coldwell Banker Commercial AI Group in Orange City, said he alexpects to see an increase in distribution centers in Volusia County, including some that might simply take over existing buildings that previously had a different use.
Amazon has opened or has plans to open last-mile delivery stations in former department stores in other parts of the country.
Volusia Mall in Daytona Beach has two empty former department stores: Sear's which closed two years ago and Macy's which closed in April of last year.
"With the growth that's going on (in e-commerce), it's possible that Volusia Mall could accommodate a second (Amazon last-mile station)," Wanamaker said.
Factors finally 'coalescing' in Volusia County's favor
Other commercial Realtors also expressed their belief that Volusia County is destined to become a major distribution hub. The question is when.
"I thought after the Trader Joe's deal, we'd see more distribution centers, but we didn't," said Tim Davis, a commercial Realtor with SVN Alliance Commercial Real Estate Advisors in Ormond Beach. The "World Class Distribution Center" that is exclusively used to supply Trader Joe's stores opened along I-95, just south of Tanger Outlets, in June 2015.
One of the development sites Davis is marketing is the property on Williamson, just south of the Kennel Club. The cleared land is owned by the Becks family, who also operate the Daytona Beach Flea Market. Their asking price is $18 million.
"We've had consistent interest, but the sellers are not willing to subdivide it," he said when asked for possible reasons why the site has yet to be sold.
Dick McNerney, a commercial Realtor with Adams, Cameron & Co. Realtors in Daytona Beach, has been marketing a 12-acre industrial development site along Mason Avenue, directly across the street from the Daytona Beach Amazon last-mile delivery station.
"We've had some inquiries, but we haven't had any serious bites yet," he said.
And in Oak Hill, Steve Unatin, managing partner of Oak Hill Ventures, said so far he has received more interest in the land his company owns there from residential developers than those seeking industrial space.
Murphy said his prediction that Volusia County is finally being looked at more seriously as a potential distribution hub is because of a number of factors "coalescing" at the same time,
"The reasons include the growth of I-95 as a trucking corridor, how the pandemic has shifted more consumer spending to e-commerce, and the pressure on retailers to deliver products faster and faster. ""The expectation of consumers in Florida used to be if they ordered something online or from a catalog or a TV shopping channel that a two-week delivery time was acceptable. That meant you could have a giant distribution center in Atlanta to service the entire state of Florida," he said.
"We've now gone to a two-day delivery time and are heading towards a two-hour delivery time," he said.
Murphy is one of the CBRE commercial brokers who are marketing the land along Indian Lake Road in Daytona Beach as a potential industrial park where buildings of up to 1 million square feet can be developed. The site is roughly five miles west of the I-95/International Speedway Boulevard interchange.
"We expect to see more truck traffic coming down the I-95 corridor as more products get shipped to the ports of Savannah and Jacksonville," he said in listing the area's selling points to distribution center developers and end-users.
Another reason that could make Volusia County more viable as a distribution hub is the current road project to extend State Road 429 to connect with I-4 near Sanford in 2023. "That's our western beltway around Orlando," Murphy said. "It's really going to open up the entire north Orlando area as well as Volusia County ... and it gives you an easier connection to the Florida Turnpike."
"I think you're going to see people looking at industrial land throughout Volusia County."


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College Brothers Make Climbing Gear in Chattanooga
Kelsey and Conner Scott's apartment boasts anything but your typical college student's living room. "We took home ec class in high school," Kelsey says. "It was kind of as a joke class to get an easy A and not do much work. We learned how to sew in there."
"We got into climbing right as we learned how to sew," his brother Conner says, "and I said 'Oh, we can totally make chalk bags.'"
Now these two brothers operate Granola Products out of their shared apartment. "I funded it myself so we had to start really small," Kelsey says.
Soon business spiked, and interest in the brothers products could only climb.
"We make backpacks, the chalk bags and chalk pots for climging, also coffee kits," Kelsey explains.
And the brother say they couldn't ask for a more perfect place. "It's probably the biggest outdoor community in the United States. We feel like Chattanooga's the best opportunity we could have stumbled into."
To visit the Granola products website, click here.
By: Latricia Thomas
Survey: US businesses add 212K jobs in February
WASHINGTON (AP) -- U.S. businesses added more than 200,000 jobs in February for the 13th straight month, a private survey found. It was the latest sign that strong hiring should boost the economy this year.
WEST PALM BEACH, FL -- (Marketwired) -- 03/21/14 --
Companies that pride themselves on being eco-friendly may have conflicted
ideas between marketing with ad specialties and maintaining their green
LEONARD NIMOY - ALTERED BILLS
OTTAWA, Ontario (AP) -- Canadians are marking the death of Leonard Nimoy -- by marking up some of their money.
POT IN DC
WASHINGTON (AP) -- Pot is still legal in the nation's capital -- but not in private clubs.
IN THE NEWS: RESEARCHERS WARN OF `FREAK ATTACK' VULNERABILITY
SAN FRANCISCO (AP) -- It's called the "FREAK attack."


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What economic event happened in 2016?
The vote led to stock market crashes around the world. Investors in worldwide stock markets lost more than the equivalent of 2 trillion United States dollars on 24 June 2016, making it the worst single day loss in history. The market losses amounted to a total of 3 trillion US dollars by 27 June 2016.
What was the economy rate in 2016?
For 2026, the projected value of real GDP is $20.3 trillion in constant 2009 dollars….Data on display. Projections of the U.S. economy, 2016–26: Slow growth continues.
|Decade||Annual growth in real GDP (percent)|
|Source: U.S. Bureau of Labor Statistics.|
Why is the economy dip 2016?
A global crash in oil prices had hit the country’s energy producers hard, and led to declines in business investment and manufacturing felt most acutely where Trump’s populist message was gaining traction.
What was the economic growth in 2016?
Real GDP increased 1.6 percent in 2016 (that is, from the 2015 annual level to the 2016 annual level), compared with an increase of 2.6 percent in 2015 (table 1). Revisions to 2016 real GDP from the advance estimate did not affect the 1.6 percent rate of increase.
What was the economy like in 2015?
In 2015 the U.S. economy was so slow that several historically-reliable indicators of an imminent recession were waiving red flags. Industrial Production was negative over 12 months, and retail sales growth was falling. The global economy was even weaker. By early 2016, global stock markets were falling hard.
Is Covid a recession?
The COVID-19 recession is a global economic recession caused by the COVID-19 pandemic. The recession, which began in February 2020, is the worst global financial crisis since the Great Depression. Recovery began in early April 2020, and many market indices recovered or even set new records by late 2020.
Is the economy growing right now?
Over all, the broadest measure of the economy — gross domestic product — grew by 1.6 percent in the first three months of 2021, compared with 1.1 percent in the final quarter of last year. On an annualized basis, the first-quarter growth rate was 6.4 percent.
What happened to the economy in 2015?
What was the GDP growth rate in 2020?
|Characteristic||GDP growth rate compared to previous year|
What was the economy like in 2015 2016?
The rate of economic growth declined in the U.S., and manufacturing is in a recession. Growth is very slow outside the U.S. and appears to be slowing further. Corporate earnings fell in 2015 and 2016 in what some called an earnings recession. Likewise, corporate earnings on average are less than they were a year ago.
Is the economy going to be bad in 2016?
Adding those pluses and minuses suggests that the economy was weak, but still moving in a positive direction in 2016, and is likely to continue growing in 2017. Certainly, 2016 won’t go down in economic history as a great year, but it wasn’t horrible either.
What was the biggest economic event in 2016?
Seven years after the American subprime crisis shook the whole world, global economic shocks keep coming. 2016 witnessed several events that ended up impacting economies all over the world, for good and bad. On January 4 and 7, China’s stock market saw a sharp sell-off of about 7 per cent that quickly sent stocks tumbling globally.
When did 2016 go down in economic history?
2016 won’t go down in economic history as a great year, but it wasn’t horrible either. Weatherford, on the floor of the New York Stock Exchange, Wednesday, Nov. 9, 2016.
Is the year 2016 a good or bad year?
Opinions expressed by Forbes Contributors are their own. I use economic insight to analyze issues and critique policy. This article is more than 4 years old. 2016 won’t go down in economic history as a great year, but it wasn’t horrible either. Weatherford, on the floor of the New York Stock Exchange, Wednesday, Nov. 9, 2016.


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Zach Beidler Lands Gig as Production Associate at Greenfish Labs
Just two short months after graduating from LVC, Zach Beidler was contacted by Greenfish Labs, Inc., a Virtual Reality startup located in Lancaster, Pa.
Since its founding in March of 2015, Greenfish Labs has worked with businesses to develop creative VR solutions for their marketing and promotional needs. Beidler wears many hats in his position as a Production Associate, where he is responsible for assisting in filming, VR stitching, web design, photography, and research and development.
In today’s world of digital media, Virtual Reality is an emerging new technology that promises to disrupt the tech industry in 2016. With 360â° video invading social and traditional online media, the Oculus Rift making its mark on the video game industry, and the Samsung Vibe providing a personal VR experience for people everywhere, it is safe to say the Virtual Reality is quickly making a substantial impact across the world. “VR will change the way we look at media and not just the gaming industry, but with every industry,” says Beidler. “Virtual Reality will help advance entertainment, education, health care, and many other industries.”
Beidler also appreciates the chance to be a part of a company as it grows from the ground up. “Greenfish Labs has many exciting things happening. Since the start of the new year, we’ve met with many companies and VPs in marketing about possible contracts.”
As Greenfish Labs grows and evolves, Beidler has also been able to expand the skills he learned as part of the Digital Communications program. “Working for Greenish Labs is not like your normal 9 to 5 job, it has been a fast paced environment where I can incorporate everything I learned from digiCOM, while gaining another skill set in an emerging industry,” says Beidler of his experience thus far. “So far I have applied every concentration from digiCOM. For example, I incorporate design and videography while designing a website for our 360 tours we will provide and creating behind the scene videos for our website."
“My advice for current digiCOM students is to network, network, and network. Just get your name out there and your chances in getting that first job will grow exponentially,” says Beidler.


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The tie-up with textile inputs owed to the coronavirus is sending raw material costs skyrocketing.
Manufacturers in Pakistan claim the cost of imported textile inputs—which many apparel sourcing countries bring in from China—has climbed by as much as 100 percent, according to Pakistan’s The News, in light of the shortages resulting from slowed production and a pileup at ports that has goods crawling (if not altogether held up) to their destinations.
Pakistan, along with other key apparel sourcing countries, like Vietnam, Cambodia and Thailand, are facing threats to production and raw materials stock that could dry up in the next month if supply doesn’t resurface.
“Everyone is talking about increasing exports from the country, but the fact is that production cannot be undertaken in the absence of materials,” Zubair Motiwala, a member of Pakistan’s Sindh Industrial Trading Estate Association of Industry, told The News.
According to reports, Pakistan relies on textile raw material imports from China, including dyes and chemicals, to make 60 percent of its exports. At present, much of what has already been produced is stuck at Chinese ports and, according to Motiwala, alternative suppliers in Korea, Taiwan and India have either ceased supply or are quoting prices as much as 35 percent higher.
“It is becoming difficult to continue production activities due to shortage of raw materials, while prices in the local market have gone up by 50-100 percent,” he told The News. “Value-added textile sector requires ample quantity of dyes and chemicals. It is obvious that no one keeps the inventory for more than 1 or 2 months due to cash flow constraints as large amounts of exporters are stuck in sales tax refunds.”
The fear for manufacturers in Pakistan now is that instead of benefiting from a potential uptick in manufacturing as companies scramble to clear out of China, the price hikes and inputs shortage could prevent factories from being able to complete their orders and ship them on time.
And conditions aren’t much different in Vietnam.
Once the second quarter hits, manufacturers in the country may no longer have the materials they need to make garments, as more than half of the garment industry’s inputs originate from China.
“Domestic firms have sufficient materials for production until the end of the first quarter, but many of them will face severe shortage of materials from the second quarter because they have trouble importing materials from key suppliers in China, Japan and South Korea,” Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association, told Reuters.
The unfortunate fact here, as American Apparel & Footwear Association (AAFA) president and CEO Steve Lamar said on a Sourcing Journal China trade update webinar Wednesday, is that if the United States had remained in the original Trans-Pacific Partnership (TPP), Vietnam might have been better equipped as a backup.
“When the TPP didn’t happen, there was a lot of investment in textiles in Vietnam that didn’t happen,” he said. “We would be able to source product in Vietnam using Vietnamese textiles more than we can now.”
The material shortage story continues much the same in Thailand. And manufacturers there are already experiencing delayed deliveries.
Orders from the last half year that would typically be filled in January or February are now being delayed until March because of the havoc created by the coronavirus outbreak, Thai Garment Manufacturers Association president Yuttana Silpsarnvitch told local news source The Star.
“Manufacturers have been unable to deliver their products on time because of the scarcity of materials coming from China, such as lace fabrics and buttons,” he said.
So far, there are few signs of the spread of the virus slowing, and while by some accounts manufacturing conditions are improving, it’s safe to assume a multitude of hiccups will continue to hamper supply chains in the coming months.
COVID-19, the novel coronavirus’ official name, has quickly become a global crisis.
On Wednesday, the Centers for Disease Control and Prevention (CDC), said the “novel coronavirus situation is rapidly evolving and expanding,” and current conditions meet two key criteria of a pandemic: one, that the virus has caused illness, including illness resulting in death, and two, that there has been sustained person-to-person spread. The third criteria of a pandemic is worldwide spread—which the CDC said “the world moves closer towards meeting.”
The latest situation report from the World Health Organization (WHO) says there have been 81,109 confirmed coronavirus cases globally, and according to an update Thursday morning from WHO director-general Dr. Tedros Ghebreyesus, 2,801 people have died. Now, “we’re at a decisive point,” he said, adding that what’s happening in the rest of the world is now WHO’s “greatest concern.”
“For the past two days, the number of new cases reported in the rest of the world has exceeded the number of new cases reported from China,” Ghebreyesus said. “And in the past 24 hours, seven countries have reported cases for the first time.” Those countries include Brazil, Georgia, Greece, North Macedonia, Norway, Pakistan and Romania.
Though travel into the U.S. has been restricted, the coronavirus is stateside, and the CDC confirmed a case in California Wednesday that was the first of “unknown” origin, meaning the infected individual hadn’t been exposed to anyone known to be infected. Now, the CDC is asking U.S. residents to “prepare in the expectation that this could be bad.”


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The Bundeskartellamt, Germany’s cartel office, said it’s opened investigations into Google Germany, Google Ireland and Alphabet . “An ecosystem which extends across various markets may be an indication that a company holds such a market position. It is often very difficult for other companies to challenge this position of power. Due to the large number of digital services offered by Google, such as the Google search engine, YouTube, Google Maps, the Android operating system or the Chrome browser, the company could be considered to be of paramount significance for competition across markets,” said Andreas Mundt, president of the Bundeskartellamt. The regulator also has opened probes into Facebook and Amazon .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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Alibaba co-founder and chairman Jack Ma Intends to retire in the Chinese e-commerce giant on Monday to devote his time to philanthropy focused on Schooling, ” He told the New York Times in an interview.
Ma was a British teacher before starting Alibaba in 1999 and assembled it to a multibillion-dollar online colossus, becoming among the world’s richest men and a revered figure in his homeland.
His own worth has soared along with all the company, which has been valued at $420.8 billion (approximately Rs. 30.3 lakh crores) based on its share price at the end of trade on Friday.
Ma told The New York Times he intends to resign from the business on Monday — his 54th birthday — referring to his death as”the start of an age” rather than an end.
Ma, who gave up the title of CEO in 2013, said he planned to dedicate his time and fortune to schooling.
The way he chose to make the statement was unusual. The New York Times is obstructed in China by Communist Party censors and there wasn’t any official announcement from Alibaba on Saturday.
But in an interview with Bloomberg TV released on Fridayhe succeeded in his retirement programs, saying he wished to follow in the footsteps of Microsoft founder Bill Gates, among the planet’s most prolific philanthropists.
“There’s a lot of things I can learn from Bill Gates. I could never be rich, but one thing I could do is to retire earlier,” he said.
“I think some day, and soon, I’ll go back to teaching,” he explained, adding he had been preparing philanthropy plans in his eponymous base”for 10 years”.
Ma is a portion of a generation of billionaire entrepreneurs who made their fortunes as China embraced the digital age, creating a number of the nation’s largest and most prosperous companies in the space of little more than a couple of years.
Huge conglomerates like Alibaba, Tencent, Baidu and JD.com would be to China that which Facebook and Googleare to the United States of America.
Ma is the very first of his generation of uber-wealthy tech managers to retire, a rare move in a state where business figures frequently run their empires well in their 80s — Hong Kong tycoon Li Ka-shing only retired in May at age 89.
A casual entrepreneur
Ma’s rags-to-riches narrative is particularly remarkable.
After being hauled back by US venture capitalists in 1999, a cash-strapped Ma persuaded friends to give him $60,000 (roughly Rs. 43.26 lakhs) to start Alibaba, which operated from an apartment in Hangzhou.
“The first time I used the internet, I touched on the keyboard and I locate’well, this is something I believe, it’s something that will change the world and change China,'” Ma formerly told CNN.
The firm, still headquartered in his hometown, originally allowed businesses to market products to every other internet but soon morphed into China’s largest online retail market.
It transformed how Chinese people shop and pay for things, particularly through the now ubiquitous Alipay digital payment services.
The Alibaba empire now crosses well beyond online retail and obligations to add cloud computing, digital media and entertainment, with sterling earnings growth that jumped another 61 percent in the quarter ending June 30.
As he prepares to leave the business, Ma is among China’s richest men with a net worth estimated by Forbes at $38.6 billion.
Ma has inspired strong devotion among his workers and employees, drawing comparisons with late Apple co-founder Steve Jobs — even though he practised a more open management style.
A devotee of tai chi, he has made references to Chinese martial arts in both business strategy and corporate culture.
Porter Erisman, a former Alibaba employee who left a documentary concerning the company,”Crocodile from the Yangtze,” said:”What Silicon Valley is known for, he embodies a whole lot of the with Chinese characteristics — that spirit of willingness, risk-taking, innovation.”
Chinese state media have burnished his rags-to-riches narrative, stating his parents were poorly educated along with his dad depended on a monthly retirement allowance of just $40 to support the household.
Ma’s retirement comes following a torrid few weeks due to his rival tech CEOs in China.
Richard Liu, the billionaire creator of Alibaba’s main rival JD.com, was briefly arrested in the USover a rape allegation a week. He was released and returned to China, even though the analysis remains active.
Meanwhile net and gaming giant Tencent, an e-payment rival, has seen its profits and share price fall amid an obvious regulatory push on the tech giant’s online gaming industry.
Beijing has announced plans to control the country’s popular video game industry, including restrictions on the number of new releases to address concerns over children’s vision and gaming dependency.


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Michael Sprague, a former Ford marketing executive, has left his role as chief operating officer of Kia Motors America after nearly a decade with the Korean automaker.
Sprague, who joined Kia in August of 2008, will leave in April 17. No successor has been appointed. The 52-year-old Sprague had received a series of appointments that elevated his profile. He has been Kia's COO since 2015.
While he was at Kia, Sprague launched several new vehicles, including the Kia Soul, Niro, and Stinger.
Before joining Kia, Sprague spent 12 years in various marketing roles at Ford. When he left in July of 2008, he was the group marketing manager for the Lincoln Mercury division. Prior to that, he was Ford's corporate brand strategy manager. In that role, he helped differentiate Ford's various brands at that time.
Originally posted on Automotive Fleet


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Douglas Emmett posts fourth-quarter loss
(6:20 PM ET) SAN FRANCISCO (MarketWatch0 -- Douglas Emmett Inc.
Take-Two reports a net loss for the year on higher costs
(6:13 PM ET) SAN FRANCISCO (MarketWatch) -- Take-Two Interactive Software
Greif quarterly profit rises
(5:43 PM ET) SAN FRANCISCO (MarketWatch) -- Greif Inc.
Southwestern Energy profit falls on lower gas prices
(5:37 PM ET) SAN FRANCISCO (MarketWatch) -- Southwestern Energy Co.
ESS Technology quarterly loss narrows
(5:20 PM ET) SAN FRANCISCO (MarketWatch) -- ESS Technology Inc. ESST late Wednesday reported a fourth-quarter net loss of $10.4 million, or 28 cents a share, compared with a net loss of $52.8 million, or $1.33 a share, in the year-ago period. Excluding certain items, the Fremont, Calif.-based maker of digital video processors posted a loss of $7.3 million, or 19 cents a share, compared with a loss of $10 million, or 25 cents a share, last year. Revenue in the three months ended Dec. 31 fell to $21.3 million from $44.1 million. Analysts polled by Thomson Financial were expecting a per-share loss of 29 cents on revenue of $18.3 million. ESS forecast a first-quarter net loss of 16 cents to 20 cents a share, or a loss of 14 cents to 18 cents excluding items, on revenue of $14 million to $16 million. Analysts are expecting a per-share loss of 30 cents on revenue of $15.8 million.
Comfort Systems USA swings to quarterly profit
(5:16 PM ET) SAN FRANCISCO (MarketWatch) -- Comfort Systems USA Inc.
Nektar quarterly loss narrows; revenue more than doubles
(4:48 PM ET) SAN FRANCISCO (MarketWatch) -- Nektar Therapeutics
Limited Brands posts lower profit, cuts Feb. comp sales view
(4:44 PM ET) SAN FRANCISCO (MarketWatch) -- Limited Brands Inc. LTD after Wednesday's closing bell reported fourth-quarter net income of $439.8 million, or $1.08 a share, compared with $519.2 million, or $1.28 a share, in the year-ago quarter. The year-ago results included 29 cents a share in favorable one-time items. Sales at the the parent of Victoria's Secret, Express and Bath & Body Works stores, rose 13.6% to $4.02 billion from $3.54 billion. Analysts, on average, expected it to earn $1.08 a share on revenue of $4.01 billion, according to Thomson Financial. Same-store sales, or sales at stores open at least one year, rose 8%. Citing weather conditions, Limited said it expects February same-store sales to rise in the low to mid-single-digit range vs. its prior forecast for a high single-digit rise. It forecast first-quarter per-share earnings of 25 cents to 28 cents; it sees 2007 per-share earnings of $1.75 to $1.90.
Medicis issues first quarter, 2007 financial forecast
(4:43 PM ET) BOSTON (MarketWatch) -- Medicis Inc.
PetSmart net rises, but falls short of forecasts
(4:38 PM ET) LOS ANGELES (MarketWatch) -- PetSmart Inc. PETM said late Wednesday that fourth-quarter net earnings climbed to $76.9 million, or 56 cents a share, compared with $70.9 million, or 50 cents a share, for the same period a year ago. Sales were $1.17 billion vs. last year's $1.05 billion, the company said in a press release after the close. Non-GAAP earnings put PetSmart's per-share profit at 54 cents, while the Thomson Financial estimate was for 56 cents. Sales were in line with estimates. Phoenix-based PetSmart said earnings for the coming fiscal year should be $2.03 to $2.05 a share, and include benefits of roughly 45 cents a share. The Thomson estimate is for $1.57 a share.
ManTech quarterly profit rises 33%; updates outlook
(4:37 PM ET) SAN FRANCISCO (MarketWatch) -- ManTech International Corp. MANT late Wednesday reported fourth-quarter net earnings of $13.9 million, or 41 cents a share, up 33% from $10.4 million, or 31 cents a share, during the year-ago period. Earnings from continuing operations were $15.3 million, or 45 cents a share. Fairfax, Va.-based ManTech, a provider of technology and solutions for the federal government's national security programs, posted revenue of $290.7 million vs. $261 million. Analysts polled by Thomson Financial had forecast fourth-quarter earnings of 42 cents a share on revenue of $291 million. Additionally, ManTech said it expects first-quarter earnings from continuing operations of 40 cents to 42 cents a share on revenue of $285 million to $295 million. For 2007, the company said it sees per-share earnings from continuing operations of $1.76 to $1.84 on revenue of $1.26 billion to $1.3 billion.
24/7 Real Media swings to a loss
(4:34 PM ET) SAN FDANCISCO (MarketWatch) -- 24/7 Real Media Inc. TFSM late Wednesday reported a fourth-quarter net loss of $227,000, or breakeven per share, compared with net earnings of $1.4 million, or 3 cents a share, in the year-ago period. The New York-based company posted pro forma operating income of $6.5 million, or 12 cents a share, compared with $4 million, or 8 cents a share, last year. Revenue rose to $60 million from $41.7 million. Analysts polled by Thomson Financial were expecting a per-share profit of 12 cents on revenue of $58 million. The company expects first-quarter pro forma per-share operating income of 9 cents to 10 cents on revenue of $58 million to $59 million, and expects 2007 per-share pro forma operating income of 52 cents to 55 cents on revenue of $255 million to $265 million. Analysts expect first-quarter earnings of 12 cents and 2007 earnings of 52 cents.
Wyeth facility inspection to take several more weeks
(4:28 PM ET) SAN FRANCISCO (MarketWatch) -- Wyeth WYE after Wednesday's closing bell said it expects the Food and Drug Administration's inspection of the company's facility in Guayama, Puerto Rico, to take at least several more weeks to complete. With regards to hormone therapy litigation, the drugmaker said the total number of cases it is currently defending has not changed substantially since its last update. Wyeth also reaffirmed its 2007 pro forma earnings forecast of $3.40 to $3.50; it further said its first-quarter per-share profit is expected to beat the current average estimate on Wall Street, which stands at 85 cents, according to Thomson Financial.
Medicis posts lower fourth-quarter earnings due to items
(4:28 PM ET) BOSTON (MarketWatch) - Cosmetic medical products maker Medicis Inc.
Dress Barn quarterly profit rises 21%; backs yearly outlook
(4:20 PM ET) SAN FRANCISCO (MarketWatch) -- Dress Barn Inc. DBRN late Wednesday reported second-quarter net earnings of $17 million, or 24 cents a share, up 21% from $14.1 million, or 21 cents a share, during the year-ago period. The Suffern, N.Y.-based retailer posted revenue of $340.3 million vs. $310.9 million. Analysts polled by Thomson Financial had forecast second-quarter earnings of 24 cents a share on revenue of $337 million. Additionally, Dress Barn reaffirmed its earnings outlook for fiscal 2007, saying it still expects per-share earnings of $1.30 to $1.35. Separately, the company said that comparable same-store sales in February were flat compared with a year ago. The company also said it plans to begin reporting comparable store sales on a quarterly basis, and discontinue monthly reports. The change will go into effect with next year's fiscal first quarter, ending Oct. 27.
Blount quarterly profit falls; shares slip
(11:10 AM ET) SAN FRANCISCO (MarketWatch) -- Blount International Inc.
Dycom quarterly profit rises; shares up
(10:46 AM ET) SAN FRANCISCO (MarketWatch) -- Dycom Industries Inc.
Leap Wireless swings to a loss; shares rise
(10:25 AM ET) SAN FRANCISCO (MarketWatch) -- Leap Wireless International Inc. LEAP shares surged 10% to $68.50 in Wednesday morning trade. Late Tuesday, the San Diego-based provider of wireless communications services reported a fourth-quarter net loss of $39.4 million, or 60 cents a share. In the same quarter last year, the company posted a net profit of $4.95 million, or 8 cents a share. Revenue rose to $315.5 million from $228.9 million. Analysts polled by Thomson Financial were expecting a per-share loss of 35 cents on revenue of $316 million. Leap said it added 262,000 net new customers in the fourth quarter, and expects to add 260,000 to 320,000 net new customers in the first quarter.
PRA International quarterly profit falls; shares sink
(10:14 AM ET) SAN FRANCISCO (MarketWatch) -- PRA International PRAI shares sank 13% to $20 in Wednesday morning trade. Late Tuesday, the Reston, Va.-based provider of clinical development services reported fourth-quarter net income of $5.72 million, or 23 cents a share, compared with $7.5 million, or 31 cents a share, in the year-ago period. Revenue rose to $92.5 million from $76.5 million. Analysts polled by Thomson Financial were expecting a per-share profit of 29 cents on revenue of $81.7 million. PRA forecast 2007 earnings of 48 cents to 58 cents a share and adjusted earnings 95 cents to $1.05 a share. The company expects 2007 service revenue, excluding reimbursed out-of-pocket costs associated with client projects and programs, to be in the range of $330 million to $350 million. Analysts are looking for earnings of $1.28 a share.
Bitstream shares tumble as fourth-quarter profit falls
(10:10 AM ET) SAN FRANCISCO (MarketWatch) -- Bitstream Inc.
C.H. Robinison Worldwide leads Nasdaq 100 in YTD rise
(9:48 AM ET) NEW YORK (MarketWatch) -- C.H. Robinson Worldwide Inc.
Chinese Net stocks, Google, Amazon gain
(9:41 AM ET) SAN FRANCISCO (MarketWatch) -- Internet stocks on Wednesday were trading higher as investor confidence returned to the sector after Tuesday's freefall. The Dow Jones Internet Index
was up 0.2% to 100.28 while the technology-laden Nasdaq Composite Index
added 0.2% to 2,412.77. Chinese issues were all trading higher, after getting pounded the day before. Internet service provider Netease Inc.
Eaton Vance's net income drops on charges
(9:04 AM ET) BOSTON (MarketWatch) -- Eaton Vance Corp.
E.W. Scripps & Co. cuts first-quarter earnings forecast
(8:56 AM ET) CHICAGO (MarketWatch) -- E.W. Scripps & Co.
Eaton Vance first-quarter net $2.6 mln vs $39.1 mln
(8:54 AM ET) NEW YORK (MarketWatch) -- Eaton Vance Corp.
Washington Post fourth-quarter net $95.5 mln vs $102.4 mln
(8:43 AM ET) NEW YORK (MarketWatch) -- Washington Post Co. WPO Wednesday reported fourth-quarter earnings of $95.5 million, or $9.97 a share, down from a year-ago profit of $102.4 million, or $10.65 a share. Revenue rose 10% in the latest three months to $1.04 billion from $948.7 million in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of $10.48 a share in the December period. The company attributed the rise in revenue to growth in its education, television broadcasting and cable television divisions. Shares closed Tuesday at $776.50, down 0.9%.
CORRECT: Jackson Hewitt net income rises 12%
(8:32 AM ET) NEW YORK (MarketWatch) -- Jackson Hewitt Tax Service Inc. on Wednesday said third-quarter net income for the three months ended Jan. 31 rose 12% to $27.5 million, or 83 cents a share, from $24.5 million, or 69 cents a share in the year-ago period. Revenue rose to $114.5 million from $95.1 million. Excluding litigation costs, earnings in the latest period would have been 86 cents a share. Analysts surveyed by Thomson Financial forecast earnings of 92 cents a share and revenue of $112.9 million, on average. Excluding the impact of the litigation-related costs, earnings are expected to be $1.90 to $2 a share in 2007. Analysts expect earnings of $1.91 a share for the year. (Corrects analyst estimate for 2007.)
Charter Communications loss widens
(8:32 AM ET) CHICAGO (MarketWatch) -- Paul Allen's Charter Communications
Evercore Partners adjusted net income nearly doubles
(8:31 AM ET) NEW YORK (MarketWatch) -- Evercore Partners Inc.
Allied Capital's net investment income rises
(8:30 AM ET) BOSTON (MarketWatch) -- Allied Capital Corp. ALP said Wednesday its net investment income in the fourth quarter rose to $49.1 million, or 33 cents a share, from $37.1 million, or 27 cents a share in the year-ago period. Analysts surveyed by Thomson First Call had forecast $54.4 million, or 37 cents a share. The company said net investment income in its latest quarter included employee stock-options expenses of $3.7 million and a tax expense of $1.3 million. The stock lost 78 cents on Tuesday to close $30.92.
CDC Corp. lifts fiscal 2007 adjusted profit/revenue view
(8:21 AM ET) NEW YORK (MarketWatch) -- CDC Corp.
Edison Intl fourth-quarter profit $288 mln vs $272 mln
(8:16 AM ET) NEW YORK (MarketWatch) -- Edison International Inc.
Time Warner Cable sets FY07 benchmarks prior to stock debut
(8:03 AM ET) NEW YORK (MarketWatch) -- Time Warner Cable
Martha Stewart Living profit and revenue rise
(8:02 AM ET) NEW YORK (MarketWatch) - Martha Stewart Living Omnimedia Inc. MSO on Wednesday said fourth-quarter net income jumped to $16.2 million, or 31 cents a share, from $2.9 million, or 6 cents a share in the year-ago period. Total revenue rose to $97 million from $84.6 million. Analysts, on average, expected it to earn 25 cents a share on revenue of $95 million, according to Thomson Financial. For 2007, the company is expecting revenue in the range of $330 million to $340 million, operating income in the range of $5.5 million to $8.5 million and adjusted EBITDA in the range of $32 million to $35 million, including an investment of $8 million in "Blueprint" magazine. For the first quarter, the media company expects to post revenue in the range of $62 million to $66 million, operating loss in the range of $18 million to $19 million and adjusted EBITDA loss in the range of $6 million to $7 million, including an investment of $2.5 million in "Blueprint" magazine, and a loss in its Internet segment of $3 million as the company supports its infrastructure in advance of the Web site launch. Analysts polled by Thomson Financial expect the company to post revenue of $345 million for the year, on average.
Hospira profit jumps almost 80%
(7:57 AM ET) NEW YORK (MarketWatch) - Hospira, Inc. reported a nearly 80% jump in fourth quarter profit Wednesday on higher product volumes, higher prices and favorable currency exchange. The company earned $47.4 million, or 30 cents a share, on the period - up from $26.6 million, or 16 cents. On an adjusted basis, Hospira said it would have earned 43 cents a share, vs. 32 cents in the last three months of 2005. Revenue came in at $706.5 million, a gain of 9.3%. The average estimate of analysts polled by Thomson Financial had been for Hospira
Dollar Thrifty fourth-quarter loss $2.7 mln vs net $8.2 mln
(7:48 AM ET) NEW YORK (MarketWatch) -- Dollar Thrifty Automotive Group Inc.
Barr Pharma swings to loss, while revenue rises
(7:44 AM ET) NEW YORK (MarketWatch) -- Barr Pharmaceuticals
Merck sets first quarter forecast, boosts FY view
(7:41 AM ET) NEW YORK (MarketWatch) - Drug maker Merck & Co.
NRG Energy fourth-quarter loss $30 mln vs net $64 mln
(7:33 AM ET) NEW YORK (MarketWatch) -- NRG Energy Inc.
Canada's EndoCeutics Inc. files $75 mln IPO
(7:23 AM ET) NEW YORK (MarketWatch) -- EndoCeutics Inc., a Quebec-based biopharmaceutical company developing hormone therapies for the treatment and prevention of breast cancer, late Tuesday filed to raise up to $75 million in an initial public offering with underwriters First Albany Capital, Oppenheimer & Co. and Stifel Nicolaus
King Pharma fourth-quarter net $37 mln vs loss $95 mln
(7:22 AM ET) NEW YORK (MarketWatch) -- King Pharmaceuticals
Station Casinos profit slips, revenue rises
(7:16 AM ET) NEW YORK (MarketWatch) - Station Casinos Inc.
Sprint Nextel profit rises 34%, tops analyst forecasts
(7:14 AM ET) LONDON (MarketWatch) -- Sprint Nextel
Integra LifeSciences profit slips but beats analyst view
(6:49 AM ET) LONDON (MarketWatch) -- Integra LifeSciences
American Financial Realty swings to profit
(6:49 AM ET) LONDON (MarketWatch) -- American Financial Realty Trust
Magellan Health Services posts lower profit, higher revenue
(6:47 AM ET) WASHINGTON (MarketWatch) -- Magellan Health Services Inc. MGLN reported fourth-quarter net income of $22.5 million, or 58 cents a share, down from $52.2 million, or $1.38 a share, earned in the same period during 2005. Quarterly revenue generated by the Avon, Conn.-based health-care management company reached $461.3 million from the prior year's $436.4 million. Earnings in the latest quarter benefited from one-time favorable contractual settlements of $5.1 million as well as out-of-period favorable care development of $1.7 million, Magellan Health said. The year-earlier period reflected in part the sale of certain assets to Aetna Inc. Analysts, on average, had been looking for earnings of 48 cents a share on revenue of $464 million, according to estimates compiled by Thomson Financial. Shares of Magellan Health lost $1.93, or 4.3%, to end Tuesday's trading at $42.45.
AllianceBernstein reports adjusted net to reflect error
(6:36 AM ET) TEL AVIV (MarketWatch) -- AllianceBernstein Holding L.P.,
Titan International's loss widens; quarterly sales jump 71%
(6:22 AM ET) WASHINGTON (MarketWatch) --Titan International Inc.
StarTek 4th-quarter net per share off 27%
(6:19 AM ET) TEL AVIV (MarketWatch) -- StarTek Inc.,
National Atlantic Holdings' quarterly net, revenue higher
(6:10 AM ET) WASHINGTON (MarketWatch) -- National Atlantic Holdings Corp. NAHC reported fourth-quarter net income of $3 million, or 26 cents a share, up from $2.1 million, or 19 cents, earned in the final three months of 2005. The Freehold, N.J.-based provider of specialized property-casualty insurance products and services generated quarterly revenue of $45.2 million, up from $44.6 million, in a reflection of higher net investment income. Analysts, on average, had been looking for earnings of 33 cents a share, according to estimates compiled by Thomson Financial. Shares of National Atlantic Holdings added a penny to end Tuesday's trading at $13.01.
PetroHawk Energy profit drops, to switch to NYSE
(5:23 AM ET) LONDON (MarketWatch) -- Independent energy company PetroHawk Energy
Virgin Media loss widens, offers arbitration in Sky dispute
(5:13 AM ET) LONDON (MarketWatch) -- U.K.-based, U.S.-listed cable operator Virgin Media(UK:VMED)said its fourth-quarter loss widened to 122 million pounds ($240 million) from 56 million pounds, while revenue rose to 1.08 billion pounds from 485 million pounds on the acquisition of Telewest. On a proforma basis, Virgin Media's revenue rose 18% on growth in all segments, and its churn of customers dropped to 1.7%. Net customer losses were 37,000 in the quarter. It still hasn't reached agreement with British Sky Broadcasting
Ormat Tech swings to 4th-quarter profit; revenue up 13%
(3:51 AM ET) TEL AVIV (MarketWatch) -- Ormat Technologies Inc.,
Bouygues annual profit climbs 50%, to hire 18,500 people
(2:58 AM ET) LONDON (MarketWatch) -- French conglomerate Bouygues(FR:012050)said its profit in 2006 improved 50% to 1.25 billion euros ($1.6 billion), help by the divestment of TPS and its Caribbean telecom arm and by 10% revenue growth to 26.41 billion euros. Excluding the asset sales, its profit would've climbed 26% on growth from its three construction businesses and a record performance at its telecoms arm. It's going to hike its dividend 33% to 1.20 euros a share. It's targeting 8% sales growth in 2007 and is looking to hire 18,500 employees, including 8,000 in France.
Publicis profit rises 15%, says margin hit industry high
(2:52 AM ET) LONDON (MarketWatch) -- French advertising group Publicis(FR:013057)
LogicaCMG profit climbs 24.6%
(2:45 AM ET) LONDON (MarketWatch) -- LogicaCMG(UK:LOG)said its 2006 net profit rose 24.6% to 82 million pounds as revenue grew 45.3% to 2.67 billion pounds. The services group said growth was driven by the telecoms sector, where revenue rose 24.4% on a pro-forma basis. Overall, the IT services market remained positive in 2006, with increasing volumes and a generally improving pricing environment, the company said. LogicaCMG said the IT services market has remained positive in 2007 and it expects overall growth of 4% to 6% in the European IT market in the year.
HBOS profit up 19.6%, remains cautious on unsecured lending
(2:32 AM ET) LONDON (MarketWatch) -- U.K. banking group HBOS(UK:HBOS)said Wednesday that its 2006 net profit rose 19.6% to 3.82 billion pounds ($7.5 billion), driven by growth across all its divisions. Underlying pretax profit rose 14% to 5.54 billion pounds, topping analyst forecasts as the bank kept a cap on costs. Underlying pretax profit rose 3.5% to 2.36 billion pounds in the retail division and grew 17% to 1.66 billion pounds in the corporate unit. Impairment losses on bad loans rose 8.9% to 1.74 billion pounds. But the proportion of impairments fell to 2.18% of loan advances from 2.37% in 2005. The bank said it remains optimistic about the U.K. economy, but continues to be cautious about unsecured lending due to the impact of rising interest rates, utility prices and consumer debt. HBOS also said it expects margins to decline in 2007 due to the sale of a division, continued competitive pressure in retail banking and a change in its international banking business mix.
Atos Origin swings to loss on U.K., Italy impairment
(2:32 AM ET) LONDON (MarketWatch) -- French IT services group Atos Origin(FR:005173)said it swung to a 264 million euro ($348 million) loss in 2006, hurt by a 378 million euro impairment charge in the U.K. and Italy. Revenue rose 1.5% to 5.4 billion euros. Its operating margin dropped to 4.6% from 7.3% on delays in new business in the U.K. and a difficult market in Italy. It held to its 2007 outlook of growing its operating margin when excluding the 40 million euros of costs of a previously-announced restructuring plan and of improving sales by 8.5%.
Munich Re profit drops 52%, sees profit falling in 2007
(2:25 AM ET) LONDON (MarketWatch) -- German reinsurer Munich Re(DE:843002)on Wednesday reported a 52% drop in fourth-quarter profit to 641 million euros ($845 million), slightly below analyst expectations, with gross premiums written down 2% to 9.36 billion euros. The company benefited from asset sales in the year-ago quarter. It's lifting its dividend to 4.50 euros from 3.10 euros. It's guiding to 2007 profit between 2.8 billion and 3.2 billion euros, below 2006's 3.44 billion euros, as it had to recognize tax credits for prior years on 2006's balance sheet and as the burdens from natural catastrophes is already "well above" the level at the end of February 2006.
CKE Restaurants to restate results for fiscal 2006
(2:21 AM ET) TEL AVIV (MarketWAtch) -- CKE Restaurants Inc., CKR the Carpinteria, Calif., operator of the Carl's Jr., Hardee's and La Salsa chains, said it would restate its results for the year ended Jan. 30, 2006, because of an inadvertent overstatement of an income-tax benefit. The benefit should have been $121 million; it was reported as $137 million. The error also caused an overstatement of net income for the year, it said. "The company is not aware of any evidence that the restatement is due to any material noncompliance by the Company, as a result of misconduct, with any financial reporting requirements under the securities laws," CKE said in a statement.


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If you own a Apple Watch, is already more than used to the challenges promoted by Apple. IS in the day August 25th we will have one more: the National Parks Challenge, as Twitter user @kylesethgray pointed out.
The traditional challenge celebrates US national parks, but this year in particular celebrates the 100th anniversary of the Grand Canyon National Park – last year, Apple celebrated the 50th anniversary of Redwood National Park.
To win the prize (the special medal and stickers that can be used in iMessage), you will need to register a trail, walk, wheelchair or jog exercise for at least 4.8km (round trip distance between South Kaibab Trail and Cedar Ridge), or in the Exercise app (Workout) or any other that adds records to the Health app (Health).
Apple Watch Nike +
in Apple and Nike
Cash price: from R $ 3,599.10Installed price: up to 12x R $ 333.25Sizes: 40mm or 44mmMaterials: aluminumFeatures: GPS or GPS + CellularColors: diverseLaunch: September 2018


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The Warwickshire Outlook - by Dave Ayton-Hill
In his regular assessment of the county's very latest economic outlook, Warwickshire County Council's head of economy & skills Dave Ayton-Hill asks: Will it be a Happy Christmas for the retail sector?
Consumer spending accounts for two thirds of total economic output in the UK and, in turn, retail accounts for around a third of all this spending. The relative performance of the retail sector is therefore both a key driver and barometer of overall economic activity.
When you consider that, on average, retailers generate over 50% of their sales and profits in the three months leading up to Christmas, it's clear that a good or bad Christmas can genuinely make or break a retailer.
Over 2017 we have seen a gradual erosion of consumer confidence as real wages have started to decline. Price inflation is now at a five-year high at 3%, driven by the devaluation of sterling following the EU referendum result; but average wage growth rose by 2.2% over the past year.
Many big-name retailers (including Next, Marks & Spencers and John Lewis) are warning of a difficult trading period ahead and are already experiencing sales either below average for the time of year, or below their expectations for this crucial part of the year.
Recently the British Retail Consortium have released figures suggesting that retail sales shrunk by 1% on a like-for-like basis in October compared to a year ago and official figures from the Office for National Statistics showed that the amount of goods bought by consumers fell by 0.8% in September. While October saw a small upturn of 0.3%, the overall sales figures were lower than the same time last year. Finally, Visa reported that their data shows a fall in consumer spending by 2% in October, the fastest year-on-year decline in four years. This was also the fifth monthly decline in six months, and was driven by a 5% decline in spending on the high street.
However, there is certainly a feeling of “deja-vu” as there were similar warnings last year when the spectre of Brexit was supposedly going to make consumers much more cautious and hold back on spending. In the end, retail spending was very strong and one of the key reasons why the economy saw growth in 2016 and early 2017 that was much stronger than many economic forecasters had expected.
Furthermore, it is clear that retail patterns are changing – online sales are growing strongly, up by 14% since same time in 2016 and now account for approximately 17% of all retail spending.
The on-line market is therefore critical and leads us to consider two things. Firstly, the (relatively) recent growth in popularity of the so-called Black Friday (and now also Cyber Monday). A huge focus of Black Friday/Cyber Monday is around sales over the internet and, given both the concerns over consumer spending and the rise of the on-line retail market, will be a huge test and barometer for the underlying health of the economy. Forecasters are suggesting that over £6bn of sales will be made in the UK over this weekend period, and many retailers are hoping that this “event” will help kickstart their currently relatively weak level of sales. If consumers do come out spending as the retailers hope, then many of the concerns over consumer confidence and falling real wages will disappear. However, if sales are muted, then many retailers are going to start seriously worrying about their revenues in this critical period and it will suggest that the UK economy is really starting to slow down – raising concerns for the year ahead.
The second thing to consider from this analysis is the importance of small, local retailers having a strong on-line presence as a way of securing their ongoing growth and prosperity. This is the key rationale behind Warwickshire County Council's Town Centres programme, which is supporting a dedicated training scheme focused on helping businesses improve their digital skills and maximise the opportunities that exist on-line and through social media. An example of how this help can really drive a business forward is Joco Interiors as you can read here.
It is also important to highlight the importance of small independent retailers to the local economy. At a time when the (legal) tax minimisation schemes being undertaken by large corporations is again in the news, it is worth remembering that using small local retailers can make a huge difference in your local economy.
Because most independent shops source their goods and services from the surrounding local area, money spent in these shops “sticks” in the local economy far more than spending with multi-nationals and is re-circulated through something called local multiplier effects. It is estimated that for every £10 spent in an independent shop, £50 is generated within the local economy because of these effects.
This is perhaps something to consider when browsing the on-line sales on Black Friday!


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Rumours: OPPO F3 Plus unboxing video leaked online on YouTube
With just a day away from OPPO unveiling the F3 and F3 Plus smartphone, someone uploaded a video on unboxing the device but only revealing the back side. Check out the video below:
Uploaded by Slashleaks, the girl in the video cleverly filtered it into a blurry monochrome style that disallow us to check if it’s the real deal. But she does show the items inside the box, which includes a charging cable and adapter, earphones, a protective casing and a user manual. She also compared the size to the OPPO F1s and the F3 Plus looks ridiculously gigantic in her hands. According to rumours, the F3 Plus is measured to be 163.63 x 80.8 x 7.35 mm with a 6-inch full HD display.
The F3 Plus is said to be a new dual front camera housing a 16MP + 8MP sensor and we bet that it has something to do with that 5x Dual Camera technology that was showcased in MWC 2017. Well, we will know soon enough so stay tuned for more OPPO news at TechNave.com.


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Nintendo’s previously delayed Direct games showcase has been greenlit to go ahead tomorrow night.
The games giant confirmed the news on its website and social media.
Scheduled to kick off at 11 pm BST, it is set to last approximately 35 minutes and will feature upcoming Nintendo 3DS and Nintendo Switch titles.
The Nintendo Direct had initially been pencilled in for September 6th but was delayed due to a powerful earthquake in Hokkaido, Japan.
The quake had a magnitude of 6.7 and took the lives of several people, with more confirmed missing.
The disaster followed on from a typhoon that had ravaged the west of Japan for several days prior. Called Jebi, it’s the strongest typhoon to hit the country in 25 years and has killed at least 10 people.
Following the delay news also broke that Nintendo Switch Online cloud save services would not be enabled on all titles.
According to Nintendo, it came down to the risk of cheaters and duplication bugs. While the vast majority of titles will support the feature, online games like Splatoon 2 will store player data locally.


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The inexorable rise and rise of Kickstarter was one of the defining creative stories of last year and if any of you still needed convincing as to the crowdfunding behemoth’s significance, this look back on 2012 should drive the point home. The numbers are staggering in themselves – 2.2 million people from 177 different countries pledging $319 million to help realise 18,100 projects – and Kickstarter is rightly proud of their increasing reach. But perhaps more interesting is the amazing away of projects which have come to fruition in this way – from films and computer games to a municipal font, a banana piano and a pizza museum. And then there’s the cultural milestones, such as the fact that 10 per cent of the films at Sundance started life as Kickstarter gleams in their creators’ eyes.
The purity of the platform and its commitment to increasing the amount of creativity in the world is admirable, and their review of 2012 is a fine looking thing too. Well worth a few minutes of your day.


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Car 22 gets a fresh look for Bathurst
Mobil 1 HSV Racing today announced the all new livery that James Courtney and Jack Perkins will pilot in the Boost Mobile backed car 22 for the 2017 Bathurst 1000 and beyond.
The matte-black and chrome-orange livery, which is sure to be a standout on track, will remain on car 22 for the rest of the 2017 Supercars season.
General Manager of Motorsport, Mathew Nilsson, said the striking colour scheme will be sure to turn heads.
“It’s certainly a great looking car, one that really pops and shines, especially in the sunlight,” Nilsson said.
“Having a new livery for the biggest race of the year is always special, but it’s also great to be able to have it on the car for the remaining events in 2017.
"The business is happy to bring this concept to life for the team at Boost Mobile for Bathurst, especially after the success the team had with our Retro Round liveries at Sandown."
“We will have the design on our show car in our merchandise area at Bathurst, so be sure to head over and get a photo with it.”
Car 22, alongside car 2, hit the track for the first time this Thursday, for practice at the Bathurst 1000.


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‘Squat Morrison’ and Jenny return to Kirribilli House with a… Privacy Shield Frameworks, which bar companies from using data in ways that consumers do not authorize.
‘It was lovely to hear from former (South Australian) premier Steve Marshall, Dom (Perrottet) here in NSW, I had a chat to Gladys (Berejiklian) the other night and Jeremy (Rockliff) down there in Tassie,’ he said.
A foldable iPhone 14 Foldable phones have been the biggest physical design revolution we’ve seen in phones since basically the advent of the smartphone.
In the meantime, at least I can make use of any USB-C to Lightning cable to get at least half of the convenience I’m looking for. So expecting Apple to step in line with the rest of the industry feels about as likely as asking giraffes to maybe try having shorter necks like the rest of us, OK?
I can assure you all of us were just trying to do the best we could to try and bring Australia through safely.’
But, we may have better specs and features to look forward to later this year. Donkeys, you’re fine, you’ve got enough going on.
Because then, I still need a dedicated charging cable. In-screen scanning technology is common now, with affordable phones from OnePlus invisibly hiding scanners into the display of their phones and I find that they work pretty much as well as physical scanners that were once on the back or side of the phone.
The complaint also alleges that Twitter falsely said it complied with the European Union-U.S.
«Specifically, while Twitter represented to users that it collected their telephone numbers and email addresses to secure their accounts, Twitter failed to disclose that it also used user contact information to aid advertisers in reaching their preferred audiences,» the complaint said.
The main thing I want here is a bigger zoom.
Anthony Albanese DEFENDS Tanya Plibersek after she compared… But Apple has always had its own ways of charging. Zoom lenses are superb tools for finding interesting compositions in your environment, for getting up close on those details that would simply be lost if you took your shot with a wide angle lens. Plus MagSafe charges slower than the Lightning cable and doesn’t currently support data transfer.
He has since campaigned for Kashmir’s right to self-dete
‘I’ve just dropped the girls off to school this morning and I’m looking forward to being a dad again, it’s been a while since I’ve been able to spend as much time as I would like with the family,’ he told Ben Fordham.
«We will take a decision on what strategy we have to adopt following the life imprisonment of our leader,» Khawaja Saif Din, vice-chairman of the Jammu and Kashmir Liberation Front (JKLF), slot online bet kecil which Malik heads, told AFP
WASHINGTON, May 25 (Reuters) — Twitter Inc has agreed to pay $150 million to settle allegations it misused private information, like phone numbers, to target advertising after telling users the information would be used for security reasons, according to court documents filed on Wednesday.
According to its creators, the service — powered by advanced linguistics technology — scans and analyzes digital content to pick out and flag potential safety and security risks, as well as mental health and social and emotional concerns.
‘We all worked through a time as leaders of governments together and it was very difficult …
But what I don’t want is for Apple to remove the port entirely, which was rumored when it launched MagSafe charging.
Tanya Plibersek apologises for comparing likely new Liberal… Even the 4x zoom on Google’s new Pixel 6 Pro was enough of a jump to allow for more telephoto-style images.
Malik led hundreds of armed fighters until 1994 when he renounced violence and adopted peaceful, «Gandhian» ways to become the chairman of the JKLF.
How Peter Dutton plans to soften his ‘hardman image’ to…
It’s not a step backward to put this technology in — it would simply be acknowledging that maybe the world needs a different solution to what we had before — which can be said of so many things. But they’ve not really caught on — possibly because of their high prices but also possibly because they just don’t really offer a compelling reason to make use of that fold.
Twitter’s chief privacy officer, Damien Kieran, said in a statement that with the settlement «we have aligned with the agency on operational updates and program enhancements» to protect user privacy and security.
When everyone else was using Micro-USB, Apple had that massive 32-pin connector first seen on the iPod and that was a pain, too.
Yes, Apple upped the zoom level to 3x with the iPhone 13 Pro, but that still pales against the Samsung Galaxy S22 Ultra’s whopping 10x zoom. Rumor has it that Apple’s iPhone 14 and iPhone 14 Pro are on their way with a few possible design and camera updates (maybe even an upgraded selfie camera). The iPhone 13 and 13 Pro sit among the best phones you can buy in 2022, thanks to the lineup’s superb all-around performance and camera skills.
You see, it wouldn’t work.


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I've never understood the logic behind giving entry-level products names that imply pretty much the opposite of what the product itself actually delivers.
One recent example that springs to mind is the Motorola Motoluxe, a desperately poor device that was about as far from luxury as it's possible to get. The newly announced Samsung Galaxy Ace Style, I fear, could be another.
The latest addition to the Galaxy smartphone family has been officially unveiled by Samsung after a few pics of the device hit the web last week, and like Galaxy Ace models we've seen in the past, it's every bit as basic as its looks suggest.
The 4in display is just a plain TFT panel offering a resolution of 800 x 480, while the thing is powered by a dual-core 1.2GHz processor supported by 512MB of RAM.
Storage-wise you'll have to make do with just 4GB on the Ace Style itself, or pop in a microSD card for some more. 4G LTE support, as you'd imagine, is nowhere to be found, which should at least mean less potential strain on the 1500mAh battery.
In fact, probably the only clear positive we can identify at this stage is that the Ace Style will ship with Android 4.4 KitKat pre-installed.
But beyond that, we're left scratching our heads as to what exactly about the Samsung Galaxy Ace Style is either “ace” or “stylish”.
Maybe the price? We'll have to wait and see, since Samsung hasn't revealed it yet. What we do know is the Galaxy Ace Style will come in Cream White and Dark Grey, and should start its global rollout this very month.
Via Samsung Tomorrow


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Shares of coffee giant Starbucks Corporation (SBUX) reached a 52-week high of $63.19 on Friday, May 10, following its announcement of the expanded K-Cups distribution deal with specialty coffeemaker Green Mountain Coffee Roasters, Inc. (GMCR). The deal is expected to further strengthen Starbucks’ presence in the premium coffee market.
Starbucks beat its previous high reached late last month on the back of strong earnings results for the second quarter of fiscal 2013. Starbucks also upped its earnings guidance for fiscal 2013, while retaining its sales, comps and operating margin outlook.
The closing price of the coffee maker on May 10 was $63.10, representing a solid 1-year return of about 16.5% and year-to-date return of about 15.5%. Average volume of shares traded over the last three months stands at approximately 5028K.
Starbucks and Green Mountain have announced a new minimum five-year agreement under which Starbucks will triple the number of Starbucks products that can be run on Green Mountain’s Keurig brewers. Under the existing agreement, Starbucks manufactures and sells Starbucks-branded single serve Vue and K-Cup packs to be used on the Keurig platform. Keurig is an exclusive single-cup machine which makes Starbucks coffee and Tazo tea.
Under the new expanded agreement, Starbucks will supply other brands including Seattle’s Best Coffee, Torrefazione Italia coffee, Teavana Teas, and Starbucks Cocoa in addition to the Vue and K-Cup packs. The expanded agreement, which replaces the first deal entered in Mar 2011, further strengthens Starbucks’ position in the premium single-cup coffee market.
The premium coffee segment now accounts for over 50% of the total coffee sold in the U.S. grocery, drug, and mass channels. Starbucks owns 28.2% share of premium coffee in these channels. In the premium segment, premium single cup makes up 20% of the market. Starbucks, through the VIA Ready Brew and Starbucks K-Cups, commands almost 22% share of the premium single cup market, which is a huge improvement from its zero presence in this segment just a couple of years back. The long-term strategic Green Mountain tie, together with the newly launched Verismo at-home-coffee machine and the innovations around VIA and K-Cups are expected to help Starbucks capture further share of this fast growing market in the coffee industry. The premium single-serve category is expected to become an $8 billion market globally.
Starbucks carries a Zacks Rank #2 (Buy). The company has compelling growth drivers, like La Boulange bakery products, Verismo at-home-coffee machine, Evolution Fresh juices, Teavana tea and K-Cups portion packs, to sustain earnings momentum in the upcoming quarters.
More From Zacks.com


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Watchfaces are the most interesting aspect of any wearable device. We saw a lot of interest around Android Wear when several designer watch faces started to roll along. In fact, we were really excited to try out the famous watch faces from brands like Casio or even Armani on our Motorola Moto 360 when they were released, just for the laughs. Not to forget that some of these watchfaces looked incredibly good on the round dial of an all metallic Android Wear watch.
Google has now teamed up with several top fashion brands, to add in some of the most interesting watchfaces that we have seen in the recent times. A total of nine hot brands have been added, which includes: Ted Baker, Melissa Joy Manning, Vivienne Tam, Nicole Miller, Y-3, Mango, Zoe Jordan, Harajuku Kawaii!, and ASICS. The watch faces are compatible with all the Android Wear watches including the likes of Fossil Q Founder Watch. We are not sure how keen would owners of a competing brand be to install the watchface of another designer on their watch. The new watchfaces will be available on Google Play Store for Android users, while the same for iPhone users will be made available right inside Google’s Android Wear app.


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Rachel Riley has opened up about what made a life-changing decision to help her overcome a health battle that lasted more than ten years.
During an interview with MailOnline, the Countdown The presenter – who is married to former Strictly dancer Pasha Kovalev – revealed that both she and her husband became vegetarians to ease some of her symptoms.
“We’re all vegetarians in the house, and you just try and do the little things,” she shared. “In 2018, Pasha and I went vegan and there were a lot of reasons but I was sick of food so I cut out eggs and diary and I started eating at vegan restaurants and realized the food was really good and we needed to eat There was no need for meat and then we gave up fish.”
She also took some supplements while pregnant. The 37-year-old is a doting mum to two daughters, three-year-old Maven and 18-month-old Noa, both of whom she shares with husband Pasha.
Look: Rachel Riley and Pasha Kovalev look absolutely adorable in stunning new wedding selfie
“I was sick for over ten years and the doctors were quite clueless about it and I gave up certain foods and got so much better literally overnight,” said Rachel. “I didn’t realize how bad I was feeling until I was feeling bad.”
The mother of two had earlier revealed that she had adopted a vegan diet after years of battling food intolerance. In an interview with BT Home in 2018, she revealed: “A few years ago, I stopped eating eggs and dairy and I slowly became a vegetarian. As soon as I stopped eating a lot of foods, many of my The symptoms went away almost overnight.”
Rachel and Pasha have also included vegetarian food in their daughter Maven’s diet. Talking to Hello! In December 2020, Mathias touched on Pasha’s way of managing the family to incorporate Russian traditions into his domestic life.
On how Russians celebrate the New Year, the star added: “They have a huge table of festive food. We’ve introduced Maeve to some Russian food and she loves it so far – and we’re vegetarian too That’s why we do a vegetarian version.” Mixed salad with beets and carrots and tofu.”