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buyers, including Fosun, a Chinese conglomerate, are circling Britain’s oldest
package holiday operator. The company could be split up in a move that could
lead to its high street stores and package deals being taken over by one of its
Cook has been struggling with a dip in demand for package holidays and
cut-throat online competition. Potential bidders are now gearing up for either
a partial or full takeover of the struggling company which has already
announced that it is closing 21 high street stores and many more to come.
of interest in its Tours business began when it was first reported on Sky News
that it was seeking to offload its airline business. But it has since announced
a string of profit warnings, including an 80% drop in its share value. Fosun, a
Chinese company which is also the largest Thomas Cook shareholder, is among a
number of investors that have expressed interest in its business.
Cook has said that it is seeking to focus more into increasing investments in
directly-owned hotels which are now more profitable. It will also evaluate all
the options and consider all the bids. A source close to the company said that
it is unsurprising that even rivals are making speculative approaches for other
parts of the company’s business.
has a 17% stake in Thomas Cook and already runs a joint venture with the
178-year old firm back in China. Mr. Guo Guangchang, Fosun’s chairman, rose
from rural poverty and is now one of China’s richest men.
a bid from such a private investor with deep pockets could prove quite
attractive for Thomas Cook after a troubled year, EU rules banning majority
foreign ownership could get in the way of a lucrative deal. The rules could
prevent Fosun from running the airline arm of the tour operator.
May 2018, Thomas Cook’s shares traded above £1.40. But they have since dropped
to 25.4p before the bank holiday which left its market value at £376m as
compared to a net debt of £1.6bn. The tour operator is trying to tackle its
huge debt pile and has taken up restricting specialists, Alix Partners, to work
on its balance sheet and its cost reduction plans. The company was recently
compelled to call for a meeting of its shareholders to support an extension of
its debt limits which had been “inadvertently broken.”
analysts have already warned that the tour operator may have to ask its
investors for more cash even though it has surpassed the period in which cash
reserves are at their lowest for many of the highly seasonal tour operators.
things are not looking too good for the entire holiday sector which is in the
midst of a fierce price war. Thomas Cook’s biggest rival in Europe, Tui, has
already issued profit warnings. Budget airline Easyjet has also issued a
significantly downbeat outlook.
online marketplace is also proving to be brutal for Thomas Cook. More
holidaymakers are now opting for the internet rather than visiting high street
branches. While 64% of Thomas Cook’s sales are through its website, this rising
preference has mostly benefited online travel agencies.
company announced the closure of 21 stores last month, including the loss of
321 jobs. As the company adjusts itself to the online spending revolution,
analysts believe there will be many more closures across its 566-store network.
Cook is named after its founder who was a cabinet maker and who operated day
trips from Leicester to Loughborough. The company has recently issued two
profit warnings in two months towards the end of last year. In its most recent
profit warning, the company blamed the “disappointing year” on the prolonged
heatwave in the summer across Europe for killing consumers’ appetite for
budget airlines have gone belly up in recent months. These include the British
regional carrier Flybmi which collapsed in February, Iceland’s Wow Air which
folded last month, and Indian Jet Airways which grounded all its flights this
spinning off its airline arm could be an attractive source of cash for Thomas
Cook. This is not the first time the tour operator has faced concerns about its
survival. Similar doubts were raised back in 2012 when it was forced to dispose
of hotels and part of its airline business. The company even carried out a
rights issue in 2013 in what seemed like a desperate attempt to shore up its
Figures released by business information company CRIF
Vision-Net show that the entrepreneurship spirit continues to flourish in
Ireland despite Brexit uncertainty.
An average of 71 companies were set up every day
within the first three months of 2019 against an average insolvency rate of two
Within the first quarter of 2019, a total of 6,413
companies were formed in Ireland. These are the best figures of Q1 in the last
13 years and a 14% increase on the previous record-breaking Q1 of 2018.
The biggest contributors to these figures were
professional firms, which accounted for 1,448 new start-ups in the first three
months of the year, a 22% increase from the same period last year. Social and
professional services recorded an impressive 50% growth (949 new firms) over
the same period in 2018.
However, the financial sector, which is the third
largest sector, decreased by 1% to record 708 new start-ups as compared to 715
in Q1 of 2018 while the construction industry showed a modest 1% growth.
Releasing the figures, Christine Cullen, Managing
Director of CRIF Vision-Net, said that “the buoyant entrepreneurial spirit in
Ireland continues to weather the continued uncertainty across the water.”
Cullen further commented that “the first quarter of 2019 has been the best in
13 years for start-ups in Ireland,” and that “industries including professional
services and social and personal services saw significant growth.” Meanwhile,
much-discussed sectors such as construction and finance have again shown strong
Ms. Cullen also observed that, other than the concerns
over a slowdown in the global economy, Brexit remains the greatest challenge of
2019. It now sits at the top of all business agendas, in both big and small
companies. And the concern is particularly acute for many of the companies that
are susceptible to supply chain disruptions, costly tariffs and border checks
on the horizon.
Therefore, it seems businesses are doing everything
they need to do to prepare themselves for the unknown and the potentially messy
post-Brexit period. Cullen pointed out that, “in the meantime, it is critical
that the Irish Government continue to provide assistance to safeguard the
economy from the worst effects of a No-Deal Brexit.”
Twelve counties made double-digit growth rates in the
total number of start-ups in Quarter One, with Dublin recording the highest
number of start-ups among all the counties. There were 3,089 start-ups
established in the capital within the first quarter of the new year, which is
close to half of all the start-ups in the entire country within the period.
Cork recorded the second highest number of start-ups
with 690 new businesses being established in Q1 of 2019 – a 13% increase over
the same period in 2018. Galway came in a distant third with 236 new start-ups
– a 1.2% drop while Limerick was fourth with 210 new start-ups which was a 7.7%
improvement on Q1 of 2018.
It is also worth noting that this growth in start-ups
wasn’t confined to the counties with the highest urban populations. Louth
recorded a 21% increase while Donegal had a 16.5% increase in the number of
companies formed. Kerry was up by 7%, Wicklow was up by 14%, and Wexford saw a
38% increase in new company start-ups.
However, data from business and credit risk analyst
CRIF Vision-net also shows that the rate of insolvencies in 2019 has remained
relatively low as compared to the previous year. There was an almost 26%
year-on-year drop in insolvencies in 2018 versus 2017. Quarter One of 2019
recorded 192 insolvencies as compared to 186 in the same period for 2018.
The wholesale and retail sectors were the most
insolvent, with a total of 31 recorded insolvencies, which is a 34.8% increase
on the Q1 figures for 2018. The professional services sector also had the same
figures, 31 insolvencies, which was a 10.7% increase in the while the
construction sector recorded 25 insolvencies – a 13.8% reduction.
Dublin was, unsurprisingly, the most insolvent county
followed by Galway and Cork. Clare, Waterford, Carlow Mayo, Westmeath,
Tipperary, Laois, and Kilkenny all recorded less than five insolvencies each in
Q1 of 2019 as compared to Q1 of 2018.
Sara Constatini, CRIF’s Regional Director for the UK
and Ireland, pointed out that the continued growth in the number of Irish
start-ups in Q1 is very encouraging. She indicated that international data
shows that Ireland is on course to outperform even some of Europe’s biggest
economies, such as Germany, in 2019.
However, while the domestic economy is thriving,
external challenges continue to cause several concerns. Other European
economies are also feeling the cloud of uncertainty and the next couple of
weeks will be crucial in determining the European market confidence in 2019 and
Following several corporate collapses, including the
collapse of Carillion and BHS, the UK competition watchdog has made proposals
that could split up the big four accounting firms.
The proposals also include compelling the big
accountancy firms to work with their smaller rivals. While the CMA (Competition
and Markets Authority) resisted calls for a split of the big four,
PricewaterhouseCoopers, EY, Deloitte and KPMG, it has said it might be an
option five years down the line if there are no significant improvements in the
Following its fundamental review of what it termed
“serious competition problems in the sector,” CMA’s final report recommended
that the UK government pass new laws that will compel big accounting firms to
put some distance between their auditing operations and their more lucrative
consulting divisions. Such laws, it says, would prevent conflict of interest.
To stoke competition, the CMA also called for
corporations across the UK to be forced to hire smaller “challenger” auditing
firms to analyse their books along with the big four. However, it proposed that
the largest and most complex organizations be excluded from this requirement.
But accounting firms have raised concerns and even
severely criticized some elements of these proposals. Business lobby group,
Confederation of British Industry, indicated that this move could undermine the
confidence in corporate Britain.
Marcus Scott, the chief operating officer of
TheCityUK, which represents financial services and professional firms, also
criticized the proposals. He said that such recommendations may make for good
headlines but are poorly focused. He further stated that “there was no evidence
that they would lead to genuinely enhanced audits.”
The CMA still insists that its blueprint will improve
the profession. Andrew Tyrie, CMA chair and former Tory MP supported the
blueprint and said that “people’s livelihoods, savings, and pensions all depend
on the auditors’ job being done to a high standard.” He pointed out that “too
many fall short – more than a quarter of big company audits are considered
sub-standard by the regulator. “This,” he said, “cannot be allowed to
Lord Torie also indicated that the government had also
received similar recommendations from three separate reports. This was a
reference to the recent Kingman review of audit regulation and the Brydon
review of audit quality and effectiveness, which, he said, “In large part, they
come to similar conclusions.” He further pointed out that “conflicts of interest
cannot be allowed to persist; nor can the UK afford to rely on only four firms
to audit Britain’s biggest companies any longer.”
According to the CMA, the fact that large accountancy
corporations are engaged to scrutinize companies’ book while at the same time,
earning huge fees for advising on corporate matters such as takeovers and tax
issues, has fueled several conflict of interest allegations.
To avoid conflict of interest, the CMA has proposed
that the auditing and consulting functions should be “operationally” separated,
with different leadership, management teams, accounts and even pay policies.
That means the two functions would no longer share profits or staff promotions.
Even bonuses would now have to be on audit quality.
The current accounting regulator, the Financial
Reporting Council, will perform a five-year progress review, even though the
Kingman review had recommended its replacement with a tougher successor.
According to the CMA, the option of a full, structural
split, which will compel accounting firms to split into two, entirely
independent outfits, should remain under discussions during this review period.
The CMA also said that any corporation that engages any of the big four
accountancy firms should also hire a “challenger” audit firm to spur
competition in the sector and help the smaller accounting firms grow.
The huge and most sophisticated corporations in the
UK, which would likely include banks such as Barclays and HSBC, would be exempt
from this requirement. However, EY, one of the big four firms has severely
criticized the proposals and said that they were a missed opportunity and
“risked the UK’s attractiveness for business.”
As far as EY is concerned, splitting up auditing and
accounting functions would undermine the quality of auditing since the firms
would then not be able to draw from critical skills, capabilities, and
investments in the company. It would effectively diminish the resilience of the
Commenting on the proposals by CMA, EY said that, “at
a time when the FRC [Financial Reporting Council] is reviewing corporate
reporting, and the Brydon review may change the scope of audit, it appears
ill-timed for the CMA to restrict the skills needed to deliver high-quality
audit now and in the future.”
KPMG also criticized the proposals for joint audits
and said that “shareholders, audit committees and the regulator must have total
confidence in the ability of these firms to complete this work before the
market can move ahead with this recommendation.”
With more customers worried about problems with their
orders, delivery costs, and increasingly preferring to choose fresh produce
themselves, online grocery shopping is set for slow growth in the UK, analysts
from Mintel have revealed. It seems many consumers remain reluctant to order
fresh produce online.
In a survey of 2,000 internet users, the private London-based
market research firm also found that at least 42% of older internet users have
never bought groceries online and had no intentions of doing so, at least not
in the immediate future.
Nick Caroll, the associate director of retail research
at Mintel indicated that alongside food discounters, online grocery shopping is
one of the fastest growing sectors in the overall grocery sector. But research
now shows that the number of online grocery shoppers is plateauing, and that
retailers are struggling to entice new customers to use their services.
Mintel revealed that online grocery deliveries
comprised around 7% of the whole sector, valued at £12.3 billion and with a
projection of 10% by 2023. According to the forecasts, sales were expected to
rise to £19.8 billion. However, if the research is anything to go by, this is
unlikely to materialize. 45% of consumers polled said they had shopped for
groceries online, down from 49% in the previous year.
Mintel found some evidence of disparity between the
younger, more enthusiastic people and the older more sceptical shoppers who
regarded online grocery shopping with suspicion. Only 35% of shoppers aged 45
and above had ever used online shopping for their groceries. It is now emerging
that the older shoppers are getting more reluctant to join the online grocery
shopping revolution, and that their reluctance is now growing. The number of UK
shoppers aged 45 and above who have never bought groceries online and have no intention
to do so has now increased from 34% in 2015 to 42% in 2018.
But there may be other potential issues as well. About
1 in 4 reluctant shoppers thought the delivery charges for online shopping were
too high. 18% quite disliked being subjected to minimal order quantities or
values, a common requirement for most online stores. Further complaints
revolved around missing products, receiving goods that were so close to their
expiry dates, incorrect substitutions, and late deliveries.
According to the research, online shoppers in the UK (63%)
said that they have had at least one issue with an order in the past one year. For
online stores who also operate traditional brick and mortar stores would not be
too worried about this because grocery shoppers are likely to go back to the
store if they run into challenges with their orders.
Mintel’s research indicated that a great majority of
shoppers (73%) said they just preferred heading out to the store and picking
out fresh groceries for themselves. This might be a great concern moving
forward given the thin margins that traditional brick and mortar stores now
Big food retailers have increasingly relied on online
grocery shopping as an important element of their business strategy. Most
notably in recent days, Marks and Spencer £750 million deal to acquire a 50%
share of Ocado’s retail business. It was a clear indication that Marks and
Spencer, which has struggled in recent times, wanted an immediately scalable,
rough and ready platform to strengthen its online business and grow its sales.
High street retailers will for the first time get at
home delivery service. Overall sales in the high streets have fallen in recent
times due to the overall challenging conditions. The lack of a reliable online
delivery system has been chief among the challenges. This is hardly surprising
as Mintel’s research revealed that more than two thirds of online shoppers in
the UK have had an issue with at least one of their orders in the past year.
However, Mintel now points out that not all retail
shopping trends are working in favour of the internet. Online shopping services
are best suited to some of the traditional big basket weekly shopping routines,
especially at a time where many consumers are shopping on a top-up basis or
Large, basket-style shopping, which online grocery
shopping best supports does not quite fit with the current shopping habits.
Other innovative service offerings such as same-day delivery targeted towards
immediate meal solutions could drive growth in the sector. Once hailed as a growth
area for many retailers, online grocery shopping may be losing its shine after
all, at least in the UK.
Paschal Donohue, Ireland’s minister for finance, has
declined to comment on emerging reports that the European Commission is taking
a closer look at Google’s Irish tax regime.
Sources familiar with the matter indicated that the EU
is now scrutinizing how the technology giant uses its operations in Ireland to
help cut down its corporate tax obligations within the trade bloc.
Sources close to the matter say the review was only
preliminary and may not necessarily lead to a full-scale investigation into the
firm’s Irish operations. An EU investigation, it seems, is not quite imminent
and Irish authorities are bullish that the preliminary conversations are
sufficient to avoid a more in-depth probe of Google’s tax arrangements.
Google declined to issue a statement on the matter as
did the European Commission. But a source revealed that Margrethe Vestager, the
EU Competition Commissioner, discussed a potential issue with Pascal Donohue,
Ireland’s minister for finance. “I can’t comment on any matters in relation to any
particular company. That is the role of the European Commission to comment on
any investigations they may or may not be considering,” said Mr. Donohoe.
Mr. Donohoe was speaking in Washington where he was
attending the World Bank Spring meetings. He indicated that the Irish
government has had a good relationship with the European Commission and that
and that it was up to them to determine what kind of probes they feel are
required across the EU.
Last year, Bloomberg reported that officials from the
European Commission had held in-depth talks with Irish authorities on whether
Alphabet Inc, Google’s internet-search unit complies with rules limiting tax
perks provided by individual governments of member states in the trade bloc.
While no formal investigations have been launched as
yet, the report comes amid a clamp-down at the EU and OECD level on some of the
tax practices of digital companies. Mr. Donohoe indicated that the issue of tax
was something that was always contested and that Ireland was also engaging in
the debate. “It is a debate we are participating in,” said the minister for
finance, adding that he expected to see “further change take place in relation
to the taxation of the digital sector.”
Mr. Donohue particularly pointed out OECD’s forthcoming
work on digital taxation. The intergovernmental economic organization
headquartered in Paris will, by the end of the year, publish its roadmap on
taxing the digital economy. It is also expected to come forward with more
details of its plans before the summer.
The EU had previously made unsuccessful attempts at
introducing EU-wide digital tax policies. According to the finance minister,
the move could have resulted in reciprocal measures from other parts of the
world if the European Union had acted unilaterally.
Several big technology giants, including Apple,
Google, and Facebook, have their European operations’ base in Ireland which
provides a lower basic corporate tax rate as compared to other EU member
states. Ireland has continually resisted efforts by other EU member states to
align tax rates and tax calculations across the trade bloc.
Therefore, Vestager’s probes have opened up other
avenues for the EU to intensify pressure on low-tax member states, including
Ireland, Netherlands, and Luxembourg. The risk is that these states may lure
firms away from other member states.
Until recently, Google has seen little scrutiny of its
Irish operations, and whether they violate the EU’s state-aid arrangements. The
EU has also targeted Amazon.com for its tax deals with Luxembourg. However,
Apple has received more scrutiny in recent times, with the technology giant
ordered to pay around €13 billion for its deals with Ireland that helped reduce
its effective corporate tax rate. Ireland and Apple have appealed the decision.
Google’s European is in Dublin and its sprawling
campus, which is dubbed Googletown, is located close to the south docks. Google
landed in Ireland back in 2003, and with only 100 employees. The firm now
employs about 7000 people in Ireland.
According to company records, the firm recorded a
profit of €1.2 billion from revenues of €32.2 billion. Therefore, it paid about
€167 million in corporate tax.
Ms. Margrethe Vestager, EU’s competition commissioner,
has been at the forefront of Google’s regulatory woes in Europe. She even
stepped up an anti-trust probe as soon as she took office back in 2014 which
her predecessor had been willing to bring to an end.
Mr. Donohue is due to present an update to his cabinet
counterparts on the latest economic forecasts for the country when he returns
to Dublin on Tuesday. He will also outline the Department of Finance’s
projections for both this year and the coming year.


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Ahmed Bouaida, president and CEO of the Petrom fuel station, which has a network of 250 service stations spread throughout the Moroccan territory, will be the representative of Petrole du Maghreb SA Branch Spain, its first foreign company branch, whose objective will be the "import, export, purchase, distillation, refining, manufacturing and business of all hydrocarbons".
With headquarters in Casablanca and more than 70 years of history, Petrom says that it is a leader in the Moroccan hydrocarbons market, with a 50% market share in the distribution of fuel oil.
In addition to fuels, Petrom offers lubricants, being a leader in the import and distribution of chemicals. In its service stations, it has catering businesses and the European leader in car wash stations, Eléphant Bleu, is present in Morocco exclusively in Petrom. Since 2017, it also has a network of Point S centers, a French brand specializing in auto repair and maintenance.
Parallel to the landing of the Moroccan group in Spain, whose operations are registered on October 25, 2019, some of its great Spanish counterparts are landing in the northernmost country in Africa. On October 21, Cepsa announced that it would launch its network of service stations through a joint venture with the local company Derhem Holding.

domain: news


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Ascend Performance Materials’ Pensacola plant was selected by the Florida Sterling Council and FloridaMakes as a finalist for the 2017 Florida Sterling Manufacturing Business Excellence Award.
Established by Florida Governor Rick Scott, the award recognizes manufacturing excellence for companies in the State of Florida that are leaders in how they perform their operations, management, performance and productivity. Companies were chosen based on leadership, strategic planning, customer and market focus, measurement, analysis and knowledge management, workforce focus and operations focus.
Ascend’s Pensacola plant is the largest integrated nylon facility in the world. The site produces basic chemicals and nylon polymer in a single facility that consists of multiple chemical manufacturing and polymer manufacturing units. The site supplies a diverse customer base in the Americas, Europe and Asia in the growing markets of automotive, electronics and consumer goods.
“Ascend’s Pensacola plant manufactures more than one billion pounds of total products annually that include Nylon 6,6 polymer and chemical products,” said H. Allen Faulkner, Ascend’s program manager for chemicals growth at Pensacola. “With these large volumes of products, it requires us to have the highest level of manufacturing operations at the site to successfully meet the needs and expectations of our customers.”
“Since 1953, Ascend has been a part of the Pensacola community,” said John Johannenmann, Ascend’s chemicals site director at Pensacola. “We are honored to have been named as a finalist for an award that is recognized across our state for manufacturing excellence.
As a finalist, Ascend was featured at the 2017 Florida Sterling Conference and was honored earlier in the month at the Manufacturing Finalist Recognition and Networking Reception.
Pictured: Ascend Performance Materials. Photo for NorthEscambia.com, click to enlarge.


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Sunday, Oct. 2, between 9 a.m. and 1 p.m., County Recycling’s Shoes For The Cause will host the first annual shoe drive as part of this year’s Autism Speaks Walk at Jones Beach, field 5.
Shoes for the Cause will be collecting all used women’s, men’s and children’s shoes, boots, cleats and leather goods (handbags, jackets, gloves, belts, etc.) the day of the event. The event is scheduled to have over 30,000 area participants and Shoes for the Cause is hoping to collect over 100,000 pounds of footwear for which Autism Speaks will receive an impressive monetary donation based on the total pounds collected.
Those wishing to help out are asked to gather up all the used footwear and leather goods as you can and come on down and drop them off at the start of the event. The Shoes For The Cause team will be there at 8 a.m. to accommodate early drop-offs.
For Long Island residents wishing to donate their used shoes and leather goods a donation zone is currently placed at their corporate headquarters located at Autism Speaks, 382 Main St., Port Washington, NY 11050.
Accordingly, arrangements can be made to pick up any large group or corporate collections by contacting email@example.com or calling 800-261-7099.
County Recycling a social and local enterprise is built on a strong environmental and philanthropic foundation, and is one of the leaders in the “Wear – Donate – Recycle” global movement. Binny, the Wear Donate Recycle mascot will be present at the walk for a meet and greet with the kids.
For more information, visit www.mycountyrecycling.org.


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The opening of the much-anticipated Apple Store at Grand Central Terminal in New York City, which will become the company's largest retail venue, is officially scheduled for next week. A new message on a series of ticker screens featured on the boarded-up storefront announced Apple will be arriving at the highly-trafficked commuter terminal Friday, Dec. 9, according to TheNextWeb. “Apple Store, Grand Central.
Apple Retail Store
The Apple Store is a chain of retail stores owned and operated by Apple Inc., dealing in computers and consumer electronics. The stores sell Macintosh personal computers, software, iPods, iPads, iPhones, third-party accessories, and other consumer electronics such as Apple TV. Many stores feature a Theatre for presentations and workshops and a Studio for training with Apple products; all stores offer a Genius Bar for technical support and repairs, as well as free workshops available to the public. Under the leadership of Ron Johnson, the former Senior Vice President of Retail Operations, the Apple Stores have, according to an article in the New York Times, been responsible for "[turning] the boring computer sales floor into a sleek playroom filled with gadgets".
As of August 2012, Apple has 393 stores worldwide, with global sales of US$16 billion in merchandise in 2011. Apple Stores lead the United States retail market in terms of sales per unit area but offer limited career...


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Aegis Brands Inc. (Aegis) has declared its plans to acquire St. Louis Bar & Grill for a reported $50 million. Details of the acquisition were released on September 29.
St. Louis Bar & Grill is a Toronto-based franchised casual dining bar & grill company, operating in more than 70 locations across four provinces. Founded in Toronto in 1992, St. Louis is known for its signature wings, ribs, and garlic dill sauce.
“Brent Poulton and his team have done an exceptional job growing and fine-tuning this brand over the years,” said Steven Pelton, president and CEO of Aegis. “We couldn’t be happier to welcome the brand, the employees, and the franchisees of St. Louis into Aegis. Aegis’ intent is to continue to grow the St. Louis brand across Canada and beyond. I admire the culture and vision of the brand and we intend to build off what has been created. The store-level economics and exciting growth plans allow St. Louis to fit perfectly into Aegis’ plans to grow and create value for shareholders and we expect this acquisition to be accretive in the first year. Mr. Poulton built a company that focused on the fundamentals of the restaurant business. This has resulted in a very healthy network of franchised stores which will serve as a strong foundation upon which to grow.”
The company is also set to open its first location in Brantford, Ont. on October 3rd.
“Brantford has been a top priority for us. It’s a bustling centre and there’s big demand locally. We’re really excited to be in the neighborhood and to welcome guests who know us well, but can now enjoy us in their hometown,” said Royal Nasager, vice president of marketing, St. Louis Bar & Grill.
The new locally owned and operated restaurant will be more than 3,000 square feet of comfortable dining, a state-of-the-art kitchen, and bar with plenty of screens to play a wide variety of sports.


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November 17, 2016
The logistics startup 4TiGO, The Truck Network, today forayed into Salem for the transporters to join the mainstream cashless economy with an innovative B2B payment system designed specifically for the Indian transport industry.
The cloud-based technology platform and complementary business services of 4TiGO bring various stakeholders in the logistics industry, including consignors, consignees, fleet owners, transport companies and agencies—together onto a common platform and enable them to exchange information, transact and manage their entire business.
All the transactions made on the platform are cashless and securely facilitated through 4TiGO’s partnership with Federal Bank, a company release said here.
Additionally, 4TiGO has announced the facilitation of working capital credit for the transporters on its network and through the extension of credit, 4TiGO aims to boost the business of truck drivers, fleet owners and MSMEs, and drive the smooth management of cash flow that could support their business requirements.
The start-up has been funded by Infosys co-founder Nandan Nilekani and Accel Partners in the release.
“The idea is for a truck driver, anywhere in India, to be able to find a load, seal the deal and be on his way, all in just three clicks. To achieve this, we have created an intuitive user interface by combining 14 streams of technology. By using 4TiGO’s platform, they would also be able to gain additional earning of about Rs 25,000 a month on each truck,” Vivek Malhotra, co-founder and chief of Strategy and Marketing, 4TiGO, said in the release.
The potential of 4TiGO has been recognised by Federal Bank and the Indian Oil Corporation Limited (IOCL), both of whom have partnered with the platform to provide a multitude of benefits to its members, developing an innovative B2B electronic platform that delivers on the promise of “fulfilment assurance” and “payment guarantee”.
4TiGO is also leveraging the 800 retail outlets of IOCL to provide complementary amenities to truck drivers, such as fuel discounts, overnight stay facilities, secure parking, breakdown assistance and repair and maintenance facilities for greater driver safety and convenience.
“We are looking to help the small transporters and fleet owners leapfrog into the emerging cashless economy by facilitating online transactions for everything from lorry-hire to fuel and toll payments and even the remittances by the driver to his family. This would reduce the official cash requirement to under Rs 1,000 a day per truck,” said Malhotra.
4TiGO recently expanded its footprint in Tamil Nadu and signed-up over 150 transporters and fleet owners across all major transportation centres in the state. Over 1,000 trucks have joined the 4TiGO network to support the demand of transporters on the network who are expected to be placing over 300 loads every day in search of trucks, Malhotra said.


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This boozy Austin company is one of the most dog-friendly in the U.S., list says
Leaving Fido at home when heading to the office is never fun. But a growing number of companies are embracing having pooches in the workplace. A new ranking of dog-friendly businesses highlights some of the best, just in time for Take Your Dog to Work Day on June 21.
One Austin company made Rover's list of "Best Dog-Friendly Companies of 2019," with Tito's Handmade Vodka ranking No. 29.
Dogs are allowed in the office, with pet-friendly amenities.
The founder of the company, Tito Beveridge, is so committed to man's best friend that the Tito's website even has a page dedicated to its "Take Your Dog to Work Every Day" mission. Photos of employee dogs, known as "co-woofers," are also featured on the site.
In addition, the vodka company has pursued initiatives to help pets in need, while also offering pet accessories for sale online. Net proceeds benefit various nonprofits.
RELATED: Restaurants in Austin where you can take your dog
Rover compiled its list using results from a survey of dog owners who work in an office and data from a poll of dog-friendly companies in the U.S.
The top three dog-friendly offices in the U.S. are:
1. Amazon (Seattle)
2. Procore Technologies (Carpinteria, Calif.)
3. Trupanion (Seattle)
RELATED: Where to adopt a cat, dog or other pets in the Austin area
Editor's note: This post has been updated to more accurately reflect Tito's policies.


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NEW DELHI: India is exploring ways to secure supplies of metals such as copper and lithium from some of the world's top producers by acquiring overseas mines, as part of efforts to meet rising domestic demand, government sources said.
To start with, India has identified one copper and two lithium mines in resource-rich Argentina to either acquire or secure long-term leases, the sources said.
The sources, with direct knowledge of the matter, did not wish to be identified, citing official rules.
"A team of experts has already studied the technical aspects of the one copper and two lithium mines in Argentina by visiting the sites," said one of the sources.
"Now, we will start the commercial assessment, and that will take about a couple of months."
The effort is part of India's wider push to secure critical metals and minerals from top world producers, the sources said.
A spokesperson for the Ministry of Mines did not immediately respond to a request for comment.
KABIL is expected to set up its unit in Argentina to mine and process lithium, the sources said.
Lithium is an important raw material used to make electric vehicle batteries. As part of a broader push by the government to meet its decarbonisation goals, India has introduced a clutch of measures to boost sales of electric vehicles (EVs).
India is set to become the world's third-largest market for passenger and other light vehicles, displacing Japan, according to a forecast by S&P Global Mobility.
Other than lithium, copper consumption has jumped in India, even as the country produces only 10-15% of its total copper requirement.
India was on track to be one of the world's fastest-growing copper markets in 2022, bucking the trend of softening demand expansion elsewhere, including top consumer China, amid a slowing global economy.
The company unveiled a line-up of 14 production-ready vehicles from its portfolio that communicate the brand’s focus on sustainable, conscious, and innovative technology as part of MG’s vision in India.
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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Internal combustion engine (ICE) vehicles or electric vehicles (EV) - owning which one makes a better financial and environmental decision. Find out here.
- Why the electrification of transport will be critical in solving India’s air pollution struggles
- Central incentives kindles EV demand resurgence
- Electric 2-wheelers set to boom as manufacturing stalwarts look to expand EV footprint, shows survey
- Pan-India survey reveals growing willingness among car owners to go electric


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The Consumer Financial Protection Bureau (CFPB) cautions the use of virtual currencies like Bitcoin, citing potential issues such as unclear costs, volatile exchange rates, scams and hacking, and companies that may not offer help or refund. The CFPB adds that anyone who encounters a problem with a virtual currency product or service can now submit a complaint with the Bureau.
“Virtual currencies may have benefits, but consumers need to be cautious and they need to be asking the right questions,” says CFPB Director Richard Cordray. “Virtual currencies are not backed by any government or central bank, and at this point, consumers are stepping into the Wild West when they engage in the market.”
Virtual currencies are designed to be an alternative to current payment systems. Better-known virtual currencies include Bitcoin, XRP, and Dogecoin. Often referred to in the industry as “digital currencies,” they are a way for people to track, store, and send payments over the Internet, and they may make payment processing cheaper or faster. However, they are not backed by any government or central bank. In addition, because virtual currency accounts are not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, if a virtual currency company fails – and many have – the government will not cover the loss.
Virtual currency companies are springing up around the world to offer products and services to consumers. There are virtual currency exchanges, which are companies that help consumers buy or sell virtual currencies. There are also online “digital wallet providers,” which are companies that allow consumers to create accounts with them to store and manage their virtual currencies. Many virtual currency exchanges are also wallet providers, and vice versa.
Virtual currencies carry significant risk, including:
Exchange rates are volatile and costs unclear:
The exchange rate of Bitcoins to U.S. dollars in 2013 fell as much as 61 percent in a single day. In 2014, the value of Bitcoins has dropped by as much as 80 percent in a single day. Consumers who buy virtual currencies should be prepared to weather this kind of volatility. Consumers should also consider whether there are mark-ups or other fees when using an exchange or digital wallet provider. Companies may be charging consumers to buy, spend, or accept virtual currencies.
Hackers and scammers pose serious security threats:
Virtual currencies are targets for highly sophisticated hackers and scammers. Individuals, digital wallet providers, and exchanges are all at risk. For example, if a hacker gains access to a consumer’s Bitcoin “private keys,” which are 64-character codes that unlock the consumer’s funds, the consumer can lose all their virtual currency. Fraudsters are also taking advantage of the hype surrounding virtual currencies to pose as Bitcoin exchanges, Bitcoin intermediaries, and Bitcoin traders in an effort to lure consumers to send money, which is then stolen.
Companies may not offer help or refunds for lost or stolen funds:
Some virtual currency companies do not identify their owners, provide phone numbers and addresses, or even specify the country in which they are located. Before using a company’s products or services, consumers should carefully consider if they know how to contact the company in question, and if they know their contractual rights. If a consumer trusts a company to hold their virtual currencies and something goes wrong, the company may not offer the kind of help the consumer would expect from a bank, debit card, or credit card provider. In fact, some virtual currency companies disclaim responsibility for consumer losses if funds are lost or stolen.
Published with permission from RISMedia.


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The largest and most fattening gingerbread candy shop in Houston makes its holiday return
You can smell it from a block away when the weather is right. The aroma fills the Hilton Americas-Houston lobby. It can make guests salivate at less than 50 yards.
Every year the award-winning pastry chefs at the Hilton Americas-Houston install one of the biggest gingerbread and chocolate displays in the city inside the lobby of the hotel during the holiday season.
This year the hotel's spokesperson Tere Perry said that that the 2.5 ton candy shop comes loaded with 800 pounds of gingerbread bricks, 725 pounds of painted white chocolate, and around 300 pounds of candy on the shop's store shelves. Even the cupcakes inside the candy shop are made of sugar to last over the holidays. The chocolate tiles on the floors are a new touch for 2018.
The complete scene -- the shop, snowman, deer, Santa, and three candy children included -- is laden with a total of around 7.6 million calories by the kitchen's estimation. Even a sleigh laying down on cotton snow on the ground is made of chocolate.
The inedible creation (the display is sealed with lacquer) may have a festive smell but it can't be tasted.
ASTROS WONDERLAND: Houston Astros to host their own Nutcracker Market-inspired holiday event
Earlier this week pastry chefs Mahesh Weerasinghe and Glenna Artripe began hauling out blocks of gingerbread and dark chocolate along with other accouterments to the lobby near the front desk. Work was completed on Wednesday morning and soon after it was the co-star of selfies and impromptu holiday portraits.
Nearly 2,000 hours of work go into the design and construction of the holiday scene. Artripe said five employees begin work on the display months in advance in between gigs.
JUST AROUND THE CORNER: Ice skating returns to Discovery Green just in time for the holidays
Weerasinghe and Artripe love their work and try to outdo themselves each year.
"We both love it, you have to, and that's how we come up with all these creations," Weerasinghe said. "We already have ideas for next year."
Weerasinghe said that sometimes tiny bites appear overnight that need to get fixed promptly. Maybe room service was just taking too long.
The sculpture comes down and goes back into cold storage just before New Year's Eve.
The holiday candy shop by the numbers:
2.5 tons in weight
7.6 million calories in total
990 eggs used in baking
650 pounds of butter
850 pounds of sugar
800 pounds of gingerbread
300 pounds of icing
1,00 pounds of dark chocolate
725 pounds of white chocolate
1,850 man hours spent building the components and installing the house
Craig Hlavaty covers Houston history and pop-culture. Read him on our breaking news site, Chron.com, and on our subscriber site, HoustonChronicle.com. | email@example.com | Text CHRON to 77453 to receive breaking news alerts by text message


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What you need to know
- MOFT has announced a new MagSafe iPhone 13 case that also includes a hybrid wallet and stand combo.
- The set, available in multiple colors, is available for $68 — or $58 if you order soon.
MOFT has announced a new MagSafe case that also comes with a hybrid wallet and stand in the box and it might have just changed the way you use your iPhone.
Designed for iPhone 13 but with iPhone 12 versions also available, the new case and wallet/stand combination comes in multiple colors ranging from Windy Blue to Hello Yellow. And while the fancy colors are pretty lovely to look at, it's the functionality that wins out thanks to the inclusion of MagSafe.
The essential task companions for your daily routine, together they provide protection to keep your mobile safe, versatile hands-free viewing for desk working like news browsing and video watching, powerful grip support, as well as a 3-card holder to securely house cards for on-the-go.
Not content with just holding your iPhone, the stand also includes three different orientations — all suited to different use cases. And because it's all powered by MagSafe, you can take the whole thing off when you want, too.
There is no shortage of iPhone 13 cases on offer right now, and there are stands and wallets, too. But the combination of all three things in a single kit makes this MOFT offering a compelling one — this thing might just be the best iPhone accessory you didn't know you needed!
Want to grab one of your own? MOFT will sell them for $68 when they begin shipping on October 15. But order now, and you'll get yours for just $58. Pre-orders are open now.


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Digital TV Europe has announced the launch of the first ever DTVE Summer Survey 2021.
The last year has seen huge changes in the TV and video distribution landscape, including further significant moves towards industry consolidation as the streaming revolution continues apace.
At the same time, established video service providers have responded with a variety of strategies as their traditional business model comes under renewed pressure.
In our very first mid-year industry survey, we are looking to take the temperature of a business in the midst of transformation.
We want to find out what the industry’s leading minds think about five key topic areas: the overall digital TV landscape, identifying the major trends that are shaping the business of video; the strategy of super-aggregation as a response to the shift to streaming; the ongoing rise of live streaming in sports in particular; support for the smart home as a proposition for service providers; and the growing importance of AI and analytics in keeping the customer.
The editorial team at Digital TV Europe will turn the survey results into a report available to you in September.
The extended deadline for completing the survey is 6 September 2021.
ICYMI: Virgin Media to offer Plume’s HomePass across UK digitaltveurope.com/2021/09/20/vir… https://t.co/k4ROpfIVrU
20 September 2021 @ 21:12:00 UTC
ICYMI: Mediaset on the up as it completes Dutch move digitaltveurope.com/2021/09/20/med…
20 September 2021 @ 20:00:00 UTC
ICYMI: UK broadcasters ‘close to deal’ on single unified streaming app digitaltveurope.com/2021/09/20/uk-… https://t.co/Rd3zD14jCm
20 September 2021 @ 19:00:02 UTC
ICYMI: DTVE unveils details of latest digital symposium digitaltveurope.com/2021/09/20/dtv… https://t.co/pkKAP59C52
20 September 2021 @ 18:00:01 UTC
Rlaxx TV and Smartclip team up for advertising digitaltveurope.com/2021/09/20/rla… https://t.co/Lc3OjBSsbV
20 September 2021 @ 17:28:00 UTC


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A modern, boutique, industrial development on Brisbane’s city fringe is looking to attract a new or expanding brewery/bar…
This week on the podcast, we head to the Great North and chat with Great Northern’s brand manager Antonia Ciorciari.
Founders First told the ASX today that it had signed a national distribution agreement with Bevchain, which could lead to industry-wide cold store logistics solutions.
Owner of First Choice and Liquorland says that at-home consumption and trends toward bulk buying will continue as it posts its first quarter results.
Asahi Beverages, owners of Carlton & United Breweries, has announced the sale of Stella Artois and Becks to Heineken.
Granite Belt Cider Co. has committed to supporting Granite Belt Water Relief which donates fresh water and supplies to farmers and communities affected by drought.
The Institute of Brewing and Distilling Asia-Pacific has welcomed Tully Hadley as Chair of its Asia-Pacific Board.
Pink Boots is urging members to renew their membership this week, and has invited all new members to get in touch too as the Australian chapter launches its next phase.
Coca Cola Amatil has received a takeover bid from its European counterpart as it announced an improved third quarter with its alcohol growth driven by Feral’s ‘strong performance’.
Beerfarm and Mane Liquor’s ‘The Mane Event’ Big Hazy is being launched at Mane Liquor on Saturday, October 31st.


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Would you like to get the NFL Sunday Ticket without having to install a dish, and subscribing to an expensive programming package from DIRECTV? You can — if you live in the right place. Click Amazon: Today’s Top-Selling TVs! Amazon: Today’s ‘1-Day-Only’ Deals. The satcaster offers a separate streaming edition of the popular package of
DIRECTV will offer a free preview of the NFL Sunday Ticket on Sunday, September 10, the satcaster has announced. The preview, which will be available on channels 705 through 716, will include such key matchups as the Philadelphia Eagles vs. the Washington Redskins, the Oakland Raiders vs. The Tennessee Titans, and the Cleveland Browns vs.
Amazon says it will add 112 new TV shows and movies to its Prime streaming lineup in September, including the launch of the company’s exclusive partnership with the National Football League. The new additions for September include Amazon’s first NFL game which will pit the Chicago Bears vs. the Green Bay Packers. Prime subscribers will
News and Analysis The NFL has reached an agreement with Amazon to allow the etailer to live stream 10 Thursday Night Football games during the 2017 season. Click Amazon: See today’s top-rated products in all categories! The games will be available for free to Amazon Prime customers who pay $99 a year for a membership
DIRECTV has raised the 2017 pre-season price on its most popular NFL Sunday Ticket package by almost 10 percent. The satcaster, which is now taking orders for the 2017 season, has priced the basic Sunday Ticket package at $281.94. The price is good until September 9, 2017, the night before the first week of Sunday


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Press releases • Mar 02, 2017 06:00 GMT
While Panalpina recorded the highest Air Freight volumes since 2007, gross profit margins in both Air and Ocean Freight came under pressure in 2016. This resulted in lower full-year earnings for the international freight forwarding and logistics company. Adjusted for restructuring expenses of CHF 28 million, EBIT reached CHF 109.9 million and consolidated profit CHF 80.2 million in 2016.
Press releases • Dec 19, 2016 11:00 GMT
Following last year’s UN Climate Talks in Paris and as part of a global effort to mitigate climate change, Panalpina has delivered on its promise and set science-based emissions targets for the coming years. Panalpina is now one of 32 international companies to have such targets that have been approved by the Science Based Targets initiative.
Press releases • Dec 08, 2016 08:30 GMT
For the fourth consecutive year, UNICEF and Panalpina have joined forces to fly relief goods to an African country where population movements, food insecurity, malnutrition and natural disasters have led to a health emergency and precarious humanitarian situation. In the morning hours, a Panalpina chartered cargo aircraft landed in Chad with more than 80 tons of life-saving goods on board.
Press releases • Oct 25, 2016 05:00 GMT
In the first nine months of 2016, Panalpina recorded a slight increase of EBIT and consolidated profit (adjusted for one-offs). EBIT reached CHF 93.6 million and the consolidated profit CHF 72.6 million. Against the backdrop of receding markets in air and ocean freight, volumes increased by 9% in Air Freight but decreased by 9% in Ocean Freight. Logistics continued positively on the EBIT level.
Press releases • Oct 12, 2016 12:00 GMT
Panalpina and Cardiff Business School have strengthened their partnership with the launch of a new Logistics Manufacturing Research Centre. The center will conduct leading research into the fields of distributed manufacturing, 3D printing, the circular economy and the impact of digital manufacturing on global supply chains. The new center has already secured its first research grant.
Press releases • Jul 26, 2016 12:00 GMT
Panalpina and 3D printing company Shapeways have entered into a strategic partnership which will enable both companies to expand their digital manufacturing capabilities globally. Panalpina sees digital manufacturing and 3D printing as a perfect complement to its Logistics Manufacturing Services offering, giving customers the possibility to customize products and bring production closer to demand.
Press releases • Jul 20, 2016 05:00 GMT
In the first half of 2016, Panalpina demonstrated that it can compensate for contracting oil and gas business with organic growth in other sectors even as air and ocean freight markets declined. Adjusted for an oil and gas related restructuring provision, EBIT remained stable at CHF 60.8 million and consolidated profit increased slightly to CHF 47.9 million for the first six months of the year.
Press releases • May 10, 2016 16:00 GMT
At the annual general meeting of Panalpina World Transport (Holding) Ltd., held on May 10, 2016, 64.97% of the share capital was represented. All proposals of the board of directors were approved by a clear majority and Peter Ulber was confirmed as Panalpina’s new chairman of the board of directors.
Press releases • Apr 21, 2016 05:00 GMT
Panalpina preserved profitability in the first quarter of 2016 despite the continued contraction of the global oil and gas business. The company reported an EBIT of CHF 24.0 million and a consolidated profit of CHF 17.3 million. In a continuously soft market, transport volumes grew in Air Freight but decreased in Ocean Freight. Logistics reported the fifth positive quarter on EBIT level.
Press releases • Apr 18, 2016 10:00 GMT
Less than Container Load (LCL) services are an important tool for shippers to optimize their international supply chains. Expanding and improving the global LCL network therefore remains a key priority for Panalpina and it now offers four sailings per week from Shanghai to Singapore, an industry first, and two new exclusive services from Egypt to Singapore and from India to Switzerland via Italy.
Press releases • Apr 12, 2016 09:00 GMT
During 2015, Panalpina continued its commitment to reducing its environmental impact, with a focus on greenhouse gas emissions. At the UN Climate Talks in Paris held in December 2015, it was announced that Panalpina was one of over 100 international companies and the only logistics company so far to commit to set reduction targets as part of the Science Based Targets Initiative.
Panalpina’s Board of Directors nominates Peter Ulber to become Chairman; Stefan Karlen to succeed as CEO
Press releases • Feb 26, 2016 17:00 GMT
Panalpina’s board of directors has nominated Peter Ulber as the company’s new chairman for the upcoming Annual General Meeting (AGM). He would succeed Dr Rudolf W. Hug who has served as chairman since 2007 and does not stand for reelection due to the age limitation in the company’s bylaws. Stefan Karlen, currently regional CEO for Asia Pacific, has been designated to succeed Ulber as the next CEO.
Panalpina and Cardiff Business School: successful research on lean inventories expanded to include 3D printing
Press releases • Feb 03, 2016 14:30 GMT
Three years ago, Panalpina and Cardiff University in Wales (UK), set out to search for the ‘hidden formula’ for lean inventories. This innovative partnership has allowed Panalpina to launch D2ID, a new inventory forecasting application.The co-innovation approach has been so successful, that the research is now being expanded to include new manufacturing technologies such as 3D printing.
Press releases • Feb 01, 2016 14:55 GMT
Panalpina reached an important milestone in the implementation of its new operational IT platform. Singapore and Switzerland were the first countries to go live with the latest version of the SAP® Transportation Management application. Numerous customer shipments in December and January 2016 have demonstrated that the software is ready to be rolled out further.


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(photos by Brian Makse)
Los Angeles is all about excess and going over-the-top, so of course automakers saved some big reveals for this California car show
BMW i8 Roadster
Chevrolet Corvette ZR1 Convertible
Mitsubishi Eclipse Crossover
Check it out: The next-generation Jeep Wrangler JL looks a lot like its predecessor, the JK, but it’s been improved to be smoother on-road, and more capable off, via a million little changes that will probably have to be felt to be appreciated. Plus a diesel is due in 2019, and a hybrid the year after.
Check it out: Besides losing its roof for the LA show, the i8 got a slight power bump and an extended range. The old coupe still looks the same, though, so if we had to pick one it’d have to be the Roadster for style alone, especially since it keeps the trick doors.
Check it out: Why take the Convertible version of Chevrolet’s most powerful car ever over its closed-top cousin? The coupe, revealed in Dubai a few weeks ago, almost certainly has a little advantage in rigidity, but Chevy keeps talking about the ZR1’s exhaust note, and we don’t want to block that out with any sort of roof.
Check it out: We’re not sure we dig the CLS’ new angrier, frowny-faced look, but we’re definitely giving it props for having an inline-six-cylinder underhood. That’s an engine you just don’t see in most sedans, especially not with a hybrid “boost” button attached.
Check it out: Why are we losing our heads over an SUV? We’re just excited to see Subaru compete in this space, and for the first time offer an eight-seater vehicle. 5,000 lbs of towing capacity out of a 2.4-litr Boxer four-cylinder? Neat.
Check it out: When a new piece of technology makes its debut, we get curious, and we’re especially interested in seeing how the weird variable compression tech in Infiniti’s new turbo engine works. An industry first, it could actually offer both performance and efficiency by physically changing its architecture, unlike other automakers who just use that metaphor willy-nilly.
Check it out: What excites us most about the new Eclipse Crossover, and Mitsubishi’s new range generally, is whether totally dropping sports cars from its offerings in favour of crossovers and SUVs will actually pay off and translate into market success.


text: An anonymous reader writes "The East Buchanan Telephone Cooperative started charging cellular prices for home DSL internet service starting on January 1st, 2014. A 5GB plan costs $24.95 a month while a 25 GB plan will run $99.95 per month. 100 GB is the most data you can get in a package for $299.95 per month. Each additional GB is $5. They argue that the price increase is justified because their costs have increased by 900% since 2009. About half of their customers use less than 5 GB a month while their largest users use around 100 GB a month. They argue that the switch to measured internet will appropriately place the cost on their heaviest users. With the landmark Net Neutrality ruling this week will larger providers try to move to similar price models?"


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TOKYO -- Toyota Motor has unveiled the first yacht under its Lexus luxury brand, with a 450 million yen ($4.17 million) price tag in Japan that aims it squarely at the super-rich.
The LY 650 will launch in Japan, the U.S. and Canada on Oct. 30. The 20-meter vessel combines Toyota's shipbuilding expertise with the design sensibilities of Lexus, featuring a curvy motif and a luxurious interior. It contains three sleeping quarters, with space for six people.
The boat was designed in collaboration with the Italian yacht designer Nuvolari Lenard and is built in the U.S.
Toyota has sold about 900 boats in Japan since establishing its shipbuilding business in 1997. This is the first foray outside autos for Lexus, which unveiled the yacht concept in January 2017.


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The UK government has released details on the financial model for carbon capture, usage and storage (CCUS) projects.
Under the arrangement, the government will enter into contractual frameworks similar to Contracts for Difference contracts, with an availability payment linked to the facility performance.
The payment will be paid regardless of whether the facility is dispatching as it looks to “incentivise the availability of low carbon, non-weather dependant” generation.
The government said the model “provides fair return on investment with appropriate risk allocation and without overcompensation”.
More details can be found by clicking here.


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Female Customers At Center Of Vicious NYC McDonald's Beating IndictedAre they victims or villains? Two unruly customers who were beaten with a metal pole in a Manhattan McDonald’s are, themselves, facing criminal charges.
McDonald's Worker Avoids Charges Stemming From Vicious October ConfrontationThe two women still face possible charges from that grand jury for going over that counter after Rayon McIntosh and starting the whole thing. The charge they could face: "criminal trespass."
NYC Cashier Who Beat Customers Claims Self DefenseA McDonald's cashier jailed for beating two irate customers with a metal rod says he was only trying to defend himself.


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BAIC is Launching New Car in Pakistan – For the Price of Cultus
Chinese Automaker BAIC is Launching New Car in Pakistan for the price of Cultus. However, BAIC began its operations in Pakistan last year in 2018. This was a collaboration between BAIC and Sazgar Engineering Works. Till now, the major products of the company were shown in PAPS 2020 Expo at Lahore. There few vehicles were like BAIC senova x25, BAIC senova d20 and BJ40 off-road SUV.
However, now the company is going to launch new D20 hatchback variants as well. According to the company, BAIC is Launching New Car in Pakistan and this new coming product will cost the same as the Suzuki Cultus. Doubtlessly, BAIC cars prices are going to give tough competition for the automakers in the market.
However, the BAIC D20 sedan variant will reach the market soon. As per available information, this car will be similar to Suzuki Liana in terms of shape and body profile. Furthermore, the overall look and proportions will offer an aggressive look with a high center roof0line and a short hood and trunk.
Read Also: DIGITAL FUTURE OF PAKISTAN


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ISLAMABAD: The Federal Board of Revenue (FBR) has recovered millions of cigarettes on which tax was not paid, and unearthed a tax evasion of more than Rs100 million by a tea maker.
According to an official statement issued on Friday, the FBR has started conducting raids against tax evasion on tea and cigarettes.
A team of the directorate of intelligence and investigation department of FBR’s Inland Revenue wing in Multan raided different premises and godowns located at Lutaf Abad (Bason Road), Shah Rukn-e-Alam Colony and Southern Bypass Road, and confiscated more than two million cigarette sticks on which duty had not been paid.
The directorate of Hyderabad, in its raids in Khipro and Umerkot, recovered nearly 2.5m cigarette sticks.
In all these cases, the FBR teams were not provided with any invoice for federal excise duty and sales tax or any evidence of the production or supply of the cigarettes. The cases are under investigation and the Directorate General is also tracing out the location of the origin of this trade.
A known tea manufacturer in Bahawalpur has also been found to have evaded taxes. On the basis of scrutiny of available record, the company has evaded taxes through four techniques: first, it short-paid sales tax by an amount of Rs2.893m; second, by non-payment of sales tax amounting to Rs2.585m on disposal of fixed assets; thirdly, by claiming inadmissible sales tax amounting to Rs17.098m deducted by withholding agents; and fourth, by illegal input tax adjustment of Rs49.207m.
After calculating penalty and default surcharge, the total tax liability reached Rs100.513m. The taxpayer agreed to pay the evaded amount of sales tax along with penalty and default surcharge to avoid criminal proceedings.
The taxpayer has also deposited the tax liability of Rs100.513m through six different sales tax payment challans.


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Samsung to build 10-nanometer processers
There are reports that Samsung has started building 10-nanometer processors. This means that the company will be doing this ahead of Intel and other companies.
The transistors will be about 50 times the size of a silicon atom.
Samsung is using its 10-nanometer FinFET process to build a multi-layer 3D transistor structure with an improved design. That’ll yield 27% better performance and a lower power consumption.
According to Samsung, first-gen system-on chips will start appearing in devices next year, while the second-gen technology will in the latter part of 2017.
Jeffrey O. Sarpong/233liveworld.com
- Previous Lebanese Community awards 15 law students with scholarships
- Next Shatta Wale and Samini beef comes to an end


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The global GPU market is appears to be stabilizing, even as shipment numbers fell between Q4 2021 and Q1 2022.
According to new research from Jon Peddie Research (JPR) and reported on by Windows Central, total GPU shipments from AMD, Intel, and Nvidia fell by 6.2% from Q4 2021 to Q1 2022 with a total number of 96 million units shipped during that time period.
AMD shipments decreased by 1.5%, Intel's by 8.7%, but Nvidia's shipments actually increased by 3.2%. The JPR report attributed the drop in shipments to various factors such as the political situations in China and Ukraine. While a descrease in shipments might sound like negative news, the decline is far less than the normal decline typically seen during the same period; the report points out that the 10-year median decline during this period is 10.2%.
The JPR report also predicts a compound annual growth rate of 6.3% between 2022-2026 as it forecasts solid growth later in the year.
Analysis: How is the GPU market faring?
This year has been a complicated one for GPU manufacturers in general, as prices have sharply declined while . Going by German retailer 3D Center sales data, graphics card prices have dipped on average by 13%.
AMD and Nvidia's best graphics cards were selling at an 83% and 87% premium, respectively, over their official retail prices back in December 2021. Now the Nvidia GeForce RTX 3000 series is at about 19% over MSRP, while AMD's Radeon RX 6000 series is now 12% over MSRP.
Despite this, it seems that Team Green is holding its lead over Team Red according to retailer Newegg’s top ten sellers. The list shows that all ten slots are taken up by Nvidia GPUs; in fact the top 20 list is flush with Nvidia Ampere cards with one lone exception: the MSI Mech Radeon RX 6600, coming in at number 20.
So it seems that there are signs of a general decline in revenue but despite this, Nvidia is maintaining its strong lead against archrival AMD and we don’t expect that to change anytime soon. Better still, the decline in prices is a sign that the supply of graphics cards is increasing, which makes us more hopeful about the upcoming launch of the Nvidia Lovelace cards later this year.
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Named by the CTA as a CES 2023 Media Trailblazer, Allisa is a Computing Staff Writer who covers breaking news and rumors in the computing industry, as well as reviews, hands-on previews, featured articles, and the latest deals and trends. In her spare time you can find her chatting it up on her two podcasts, Megaten Marathon and Combo Chain, as well as playing any JRPGs she can get her hands on.


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New supersite for marques
Armstrong’s has spilt the beans on a new Peugeot and Citroen supersite it is creating at Greenlane in Auckland.
The three-storey dealership at 500 Great South Road will serve as a flagship for the French marques and is due to open in May 2021.
It will cover 2,600 square metres of floor area and is at a site that was previously home to Renault and Infiniti, reports NZ Autocar.
Armstrong’s says it will also be among the first dealerships in the world to feature Peugeot's new branding.
Rick Armstrong, managing director, explains the development is a sign of the company’s commitment to the marques.
“The current product portfolio, as well as what we know of future models, including a range of EV options, means the time is right to showcase the respective ranges in an engaging new bespoke setting befitting of the level of vehicle on offer,” he says.
“The proximity of the new premises to central Auckland and the motorway interchange means that it’s a very straightforward area to access and offers varied test drive environments.”
Chris Brown, chief executive officer of Peugeot and Citroen New Zealand, adds the dealership, which will feature a dedicated event centre, will set a “new standard for the brands”.


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In an exciting development for casino enthusiasts, Pragmatic Play has unveiled its latest creation, a brand-new slot game titled “Heist for the Golden Nuggets.” The game promises to take players on a thrilling casino adventure filled with suspense, excitement, and the potential for significant winnings. With an impressive Return to Player (RTP) of 96%, this slot game is already generating buzz among both seasoned gamblers and newcomers to the casino scene.
An Intriguing Casino Caper Unfolds
“Heist for the Golden Nuggets” offers players a unique and immersive gaming experience centered around a daring heist set in a glamorous casino backdrop. As the reels spin, players are drawn into the storyline, becoming part of an elite team of thieves aiming to crack the safe and secure their share of golden nuggets. The game’s innovative theme sets it apart from traditional slot machines, allowing players to engage with a captivating narrative as they spin the reels.
Cutting-Edge Features and Gameplay
This new slot game boasts a range of cutting-edge features that elevate the gaming experience to new heights. Stacked wilds, free spins, and interactive bonus rounds are just a few of the elements that keep players engaged and excited. The game’s immersive graphics and dynamic sound effects contribute to the sense of being right in the middle of a high-stakes casino heist, making every spin an adrenaline-pumping event.
Industry Experts Weigh In
Slot enthusiasts and industry experts alike have been quick to praise “Heist for the Golden Nuggets” for its innovative approach to gameplay and its high entertainment value. The game’s RTP of 96% is also a major draw, offering players a fair chance at substantial winnings as they embark on their virtual heist. With its release in August 2023, “Heist for the Golden Nuggets” has already gained attention as one of the standout new slots of the year.A Variety of Platforms
The game is available on a variety of online casino platforms, making it easily accessible to players across the globe. Whether you’re a casual gamer looking for some excitement or a seasoned slot enthusiast in search of a new challenge, “Heist for the Golden Nuggets” offers something for everyone. Its compatibility with both desktop and mobile devices ensures that players can enjoy the game wherever and whenever they desire.
Lavish Graphics and Immersive Gameplay
One of the standout features of “Heist for the Golden Nuggets” is its attention to detail when it comes to graphics and gameplay. The visual design transports players to the opulent world of the casino, with intricate symbols and animations that capture the glitz and glamour of the setting. From the sparkling chandeliers to the richly decorated vault, every element has been meticulously crafted to create an atmosphere that immerses players in the heist narrative. As the reels spin, the anticipation builds, adding an extra layer of excitement to each gaming session.
Community and Anticipation
The release of “Heist for the Golden Nuggets” has sparked a sense of community and anticipation among online casino enthusiasts. Forums and social media platforms are abuzz with players sharing their experiences, strategies, and big wins. The interactive bonus rounds and potential for generous payouts have become hot topics of discussion, contributing to the game’s rising popularity. With its innovative gameplay, impressive RTP, and the thrill of a virtual casino heist, “Heist for the Golden Nuggets” has undoubtedly made its mark as one of the most captivating slot games of 2023.
As the summer months unfold, players can expect “Heist for the Golden Nuggets” to continue attracting attention and providing endless entertainment. With its engaging storyline, state-of-the-art features, and the allure of hidden treasures, this new slot game offers a gaming experience that’s not only thrilling but also rewarding. Whether you’re a seasoned gambler or a newcomer to the world of online slots, “Heist for the Golden Nuggets” offers an unforgettable adventure filled with suspense and the potential for golden wins.
Conclusion: A Must-Try Slot Game
As the summer of 2023 rolls on, “Heist for the Golden Nuggets” stands out as a must-try addition to the world of online slots. With its captivating storyline, engaging gameplay, and the promise of substantial winnings, this game has all the makings of a hit. As players gear up for a virtual casino heist like no other, Pragmatic Play’s latest creation is sure to keep the excitement levels high and the reels spinning.
For those eager to join the elite team of virtual thieves, “Heist for the Golden Nuggets” is now available on various online casino platforms. Don’t miss out on the chance to experience one of the most innovative and thrilling new slots of 2023.


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MUMBAI: Volvo Penta, a global manufacturer of engines and complete power systems for boat vessels and industrial applications has appointed Miron Thoms as the VP and head of Indian operation starting this November.
Thoms will be the site manager for the Volvo Penta Global Purchasing Team in India and a member of the Country Management Team of Volvo GroupIndia Private Limited, a statement from the company said.
On his new assignment Thoms said: “In support of our growth ambitions, it is critical that we continue to leverage the ‘Make in India’ approach by serving the market through local production of Volvo Penta engines in Pithampur. Volvo Penta has a fantastic global brand image today, which we can build upon further to have a stronger presence on the Indian market.”
With almost a decades service in the Volvo Group, Miron has extensive experience in marketing, sales, business development, manufacturing as well as engine and engine after-treatment technology.
With approximately 4,000 dealers in over 130 countries, Volvo Penta has engine programs that comprise diesel and gasoline engines with power outputs of between 10 and 900 hp.
"ICVs are seeing a spurt in demand and this is the best time to introduce our proven I-Gen6 BS-VI technology in one of our best-selling brands in the portfolio. These launches will further strengthen our portfolio and help us achieve our vision of being in the global top 10 CV makers," Vipin Sondhi said.


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The place for ideas is open for business (and innovation and creativity)
In one area, you'll find RIT students working on vehicles harnessing alternative fuel. In an- other space, students create software content for children's educational games in developing nations around the globe. In yet another area, crafty students develop a sensor and software program to lock and unlock their dorm room doors from remote locations.
Welcome to our new Center for Student Innovation. The 10,000-square-foot space, dedicated this fall, will serve as a nexus of creativity and technology, a hub where teams of students from all corners of the university can develop and showcase innovative and entrepreneurial projects.
Every freshman - our largest class in RIT history - toured the Innovation Center this fall. We want to instill the entrepreneurial spirit right from the start of their college experience.
We also introduced our students to Steve Shapiro, a 2004 graduate of RIT's information technology program and current MBA student. Shapiro is the creator of Digsby, a product he developed and launched from Venture Creations, RIT's high-tech business incubator.
Digsby is a free, downloadable program that allows users to link their various e-mail ac- counts, social-networking sites and instant-messenger clients, creating easy management of all programs through a single desktop widget. Launched in March 2008, Digsby has found its way into the Wall Street Journal, Laptop magazine, and PC Magazine, which listed it among the "Best Free Software of 2009." Digsby has grown to more than 1.5 million users managing more than 4 million accounts and exchanging more than 25 million instant messages every day.
Steve tells me he took advantage of all RIT had to offer, from an entrepreneurship class to office space at Venture Creations, and even hiring co-op students as employees. And this was all before we had the new center.
In many ways, the center is for the next generation. It is important that we, at RIT, create the new jobs, start the new economy, on our own. We can't wait around for someone else to do it. The center will help youth think about ideas for 20 years down the line. It will be a signature structure that brings RIT closer to the vision of becoming a global leader in innovation and creativity.
We urge you to stop by and pay the students a visit - but be prepared to bring ideas!


text: Debuting in June for Father’s Day 2018, Angelini Wines Ltd. released its own tribute: a wine in honor of Vittorio (Victor) Angelini, 91-year-old father of Angelini Wines’ Julius Angelini. “If it weren’t for my father, it isn’t likely that I would be in the wine importing business. And it’s not all just about the wine, it’s about the culture, the farm, the food and celebration of life,” said Angelini. Vino di Vittorio is a blend of primarily Sangiovese, “a little Merlot and, of course, Pergola Rosso,” from the Angelini Estate, explained Angelini. “The Vernaccia vine, now known as Pergola Rosso, is estimated to be over 100 years old, grows in front of the farm house on the Angelini Estate [in Italy]. There are less than 10 wineries that produce this Pergola Rosso commercially. It is a very aromatic varietal that is unique and a surprise to all who taste it, which is why it had to be part of the meaningful blend of Vino di Vittorio.” 2012 Angelini Estate Vino di Vittorio can be found in the Angelini Wines Ltd. portfolio along with its other imports.


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The Samsung Gear S runs on Tizen, which is Samsung's homemade operating system. Samsung has other smartwatches that run on the OS, but also models that run on Google's Android Wear. Samsung markets Tizen as having a growing ecosystem and has been working on releasing the open source OS on a smartphone. The drawback of having Tizen's ecosystem is that it is not as robust as Android's or Apple's, but Samsung says the watch will feature 1,000 apps.
Apple Watch runs on a modified version of iOS that is specifically built for the smartwatch. The company stresses the point that it is not simply a condensed version of their mobile operating system, and it is tailored for the smaller screen. The advantage of being an iOS-based platform is the ecosystem of 1.3 million apps. Apple released the WatchKit SDK to developers yesterday in order to have a slew of watch-specific applications ready to go upon release.


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Small business owners are getting frustrated by the day due to the increasing frequency of the number of governmental regulatory norms. These dictums has been reportedly giving them nightmares for the past few years. A survey conducted by the National Federation of Independent Business’s in November 2014 found out that federal as well as state business regulation and red tape is the biggest hurdle that they have to overcome at this moment. On the other hand, a meagre one percent of the survey participants have cited taxes as their business problem number one.
Additionally, the fraction of the people that have cited governmental business rules as their most important issue today is bigger than what it had been during the mid-1980s - a time when only a paltry 10 percent of the business owners quoted governmental regulations as their biggest problem.
At the moment, various researchers associated with a range of think tanks have started to believe that business regulatory laws is becoming more troublesome for the entrepreneurs that imagined. These regulatory norms are an added baggage for them that is driving the entrepreneurs to the point of disgust. As a result of these laws, a lot of prospective entrepreneurs have started to think otherwise and have become averse to the decision of floating a business venture of their own anytime soon.
As per the records, federal regulation has increased over the past three-and-a-half decades. Whereas the number of new entrepreneurial ventures floated has gradually gone down. A chart has been provided for the readers knowledge. According to the researchers working at Hudson Institute, Heritage Foundation, Hoover Institution and Ewing Marion Kauffman Foundation, the pattern shown in the given chart confirms a definite trend and is more than just a pattern.
The correlation between the number of rules’ pages in the Federal Register and the per capita rate of new employer business creation is -0.67 within a period of 1977 to 2012. On the same note, the number of pages comprising the Code of Federal Regulation and the per capita rate of business creation, similarly, correlates to -0.78 during in the same given period. Both these measures are one of the most widely used calculations that reveal the actual scope of federal regulation and the estimates of governmental rulemaking. To help you understand, a correlation figure of 1.00 implies that both of them are parallel to each other and so, are in sync with one another.
However, any correlation do not always reveal the real causation. Still, researchers make use of many reasons to prove that the increased frequency of business regulation is acting as a huge deterrent for the wannabe entrepreneurs. Heritage Foundation’s Anthony Kim shares that many entrepreneurial attempts are rendered marginal or unprofitable due to the inflated cost of regulatory compliance. This is basically uneconomical and discouraging and that they contribute to the sharp drop in the number of people foraying into entrepreneurship.
Apart from that, at the Ewing Marion Kauffman Foundation, Senior Fellow Jonathan Ortmans, was quoted as saying to the U.S. House Committee on Small Business, Subcommittee on Contracting and Workforce that increasing rules diminishes breathing space of the entrepreneurs. Moreover, excessive red tape and documentation process will further complicate the matter for the business owners. This hurdle will result in reduced number of new business ventures getting floated in a year.
Added regulation is seen poorly by the entrepreneurs. Presently, businesses regularly get in touch with the federal regulators and comply with the rules prudently. This way they find out lucrative and innovative ways to curtail their regulatory burdens. Furthermore, a high permanent cost is attached to the regulatory compliance and often, results in smaller businesses having a tough time, financially, to continue with the same. It is particularly applicable for business ventures that are relatively nascent.
In order to resolve this logjam, Executive Vice President of the Financial Service Forum, John Dearie has put forth some of his suggestions for the Congress to work on limiting the number of rules that would stand as applicable for those ventures that are less than six years old. These budding entrepreneurial ventures should be asked to follow only the essential product safety, environmental and worker protection regulations. This would provide the cash strapped greenhorn entrepreneurs a much needed financial cushion to offset any kind of economic disaster.
In this case, a young business regulatory exemption will always be a welcome relief for the entrepreneurs who are somehow struggling and are under severe stress to make their ideas click, and to get their businesses up and running. Due to such a rule, a continuous barrage of federal laws in the future will not deter any budding entrepreneur to take the plunge.


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Unlike earning Bitcoin online currently, there are only a few legitimate ways available to earn Ethereum since Ethereum is younger than Bitcoin and yet to reach more people though it is the second most dominant cryptocurrency even if Litecoin is called the predecessor of Bitcoin. Some sites have started to pay free Ethereum and we can expect more sites to pay Ethereum for doing online jobs like taking paid surveys, completing tasks, & offers, etc. For now, there are only a few ways to earn Ether online. More ways to earn ETH will be updated once they are tested and found authentic.
Gold has had at least three millennia to establish itself as a store of value people turn to when social systems are in stress. Bitcoin has only existed for 11 years. While plenty of investors are willing to speculate on the possibility bitcoin might supplant or compete with gold, the idea is far from ingrained across society. When will it be more widely accepted? Perhaps when the international crisis of global leadership unleashed by COVID-19 undermines the capacity of institutions like the Federal Reserve to sustain economic and social confidence. Whatever new institutions and systems we create going forward will need to address how the internet has upended society’s centralized systems of governance. When that happens, we’ll need a decentralized, digital reserve asset as the base value layer. As I said, it will take time. Meanwhile, the developers will keep building.
Decenter continued the push for more information on the issue and clarification from Google Ads in an appeal through Reddit’s dedicated Ethereum board, asking users to open queries as to any policy changes that could have led to the sudden banning of the key word. In addition, Decenter posted an update stating that their previous ad campaigns feature “ethereum” have been removed, furthering the implication that there is some form of censorship going on,
Briggs Nzotta - 2020-07-11 12:17:12 Sanat Chakraborty - 2020-07-11 11:51:22 Kate Malo - 2020-07-11 09:22:58 Muhamad Hidayatullah - 2020-07-11 00:02:10 soltani Soltani - 2020-07-10 14:39:40 Stephanie Grimaldi - 2020-07-10 13:19:23 Kofe J FONO - 2020-07-10 05:44:34 Ismail Nasr - 2020-07-10 04:33:13 matt lennox - 2020-07-10 03:20:59 Edem Adomey - 2020-07-10 02:44:34
ZIMBABWE ACCIDENTALLY LEAVES DOOR OPEN FOR CRYPTO. Here’s a recipe for creating a fertile environment for alternative payment systems: outlaw the system everyone is currently using. When the Zimbabwean government made the nutty step of banning digital payments – used for 85% of transactions by individuals, due to severe shortage of cash – it clearly wasn’t trying to promote bitcoin. In forcing people to go to a local bank to redeem funds locked in popular payments apps such as Ecocash, its goal was to protect the embattled Zimbabwean dollar. In a statement, the Reserve Bank of Zimbabwe, said the move was “necessitated by the need to protect consumers on mobile money platforms which have been abused by unscrupulous and unpatriotic individuals and entities to create instability and inefficiencies in the economy.” The thinking is that Ecocash, which enables currency trading, is making it easier for people to dump the local currency. But here’s the thing: Ecocash, which said it suspended cash-in-cash-out functions (presumably because its banking lines will be cut) is still keeping in-app payment facilities open. And it said nothing about stopping its fairly popular service allowing people to buy cryptocurrency. Not surprisingly, since the ban “demand for bitcoin has skyrocketed,” according to African crypto news site, bitcoinke, with “sources claiming bitcoin is now selling at at 18% premium above the market rate.”
Two of these DeFi platforms are AAVE and Compound and you should zip over and take a look. I had some Ethereum sploshing about so I popped $23 worth in and in seconds I was watching the value tick up 79 billionth of a dollar every second or so. I’m going to have to wait a year to make a $1 but that’s not the point. I just opened a deposit account in one minute, transferred money into it in seconds and now I’m watching it grow instantaneously and that purely from landing on the beach of a new continent of financial services that can spin off from this.
Why? Is it my inflation terror driving me on? No. Ethereum is onto a new crypto winning phenomena. DeFi (decentralized finance). Well, that’s what it’s called, but most DeFi is dull and almost pointless, the exciting bit is the crypto lending part where you can stash your cryptocash in a blockchain system and get paid interest on it in a “risk free” way.
DeFi’s ‘Agricultural Revolution’ Has Ethereum Users Turning to Decentralized Exchanges. DEX, often touted as a fairer and safer way to trade cryptocurrencies, might finally have its use case: yield farming. In the past, as Brady Dale reports, most people haven’t wanted to self-custody, preferring institutions to manage the risks of holding their keys for them. But in DeFi, where people undertake dual borrowing-and-lending schemes to make big, quick returns on incentives and high interest rates, is better if you control the keys during the trade. And decentralized exchanges are seizing the opportunity.
Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.
Think of AdWallet like an online dating service (but for people to be introduced to potential products/services instead of potential mates). When you fill out your personal profile (Demographics and Targets), you are enabling AdWallet to determine what ads to send you. Just like an online dating site, you will (more often than not) only get ads that fit your personal criteria and interests. Best practice is to keep your profile up-to-date and be honest. Sorry, there is no special formula to get more ads. Choose your current life stages, your favorite hobbies, most relatable philosophies and the brands you truly are loyal to and let the ads find you! Trust us, a “Cha-Ching” text message is coming…


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UPDATE (November 1, 2016, 7:56 P.M.): News just broke that the $26 million lawsuit filed against Wen by Chaz Dean (and the distributor of his line, Guthy-Renker) will be moving forward and preliminary settlement approval has been granted, according to a report from CBS Los Angeles. Translation: As a result of this class-action suit, 6 million people could be eligible to for a monetary award, from $25 up to $20,000, although a U.S. District Court judge still needs to give final approval over the settlement.
What’s more, though, is that this isn’t the end of the Wen hair care problems. Now the FDA is investigating claims of hair loss from its cleansing conditioners as well, with over 127 consumer complaints filed. That also happens to be the largest number of reports ever associated with any cosmetic hair cleansing product, according to the FDA.
However, Wen by Chaz Dean and its distributor, Guthy-Renker, still insist that their cleansing conditioners are safe for use. You can read Wen’s full statement below.
“Wen by Chaz Dean is safe and we continue to provide our hundreds of thousands of customers with the Wen by Chaz Dean products that they know and love. Since the process of litigation is time consuming and costly, we made a business decision to pursue a settlement and put this behind us so that we can focus on delivering quality products.”
We’ll continue to update this post as we learn more information.
UPDATE (July 22,2016): According to a recent statement, the FDA has decided to get involved in the Wen controversy. As of early July, the agency reports that it had received 127 reports of adverse reactions to the Wen by Chaz Dean Cleansing Conditioner products, noting that is “the largest number of reports ever associated with any cosmetic hair cleansing product.” They are now urging other consumers who have experienced issues to report them directly to the FDA. The agency also clarified that it will be looking into the “more than 21,000 complaints reported directly to Chaz Dean, Inc. and Guthy Renker, LLC that we learned of during inspections of manufacturing and distribution facilities.”
Though no determination has been made as to what, if anything, is causing the hair loss, hair breakage, balding, and itching that some users have reported, the FDA says it is calling upon the brand to provide information that might help get to the bottom of the issue, as well as reaching out to doctors and health-care providers to let their patients know about the troubles the brand has been facing and report any instances of adverse reactions to the cleansing conditioners that they may come across.
(First published January 8, 2016.)
Last month, Wen by Chaz Dean’s popular cleansing conditioner came under fire when people took to social media, posting photos and claiming that the product did a lot more than just clean their hair. A group of 200 women filed a lawsuit against the company alleging that the conditioner caused severe hair loss. And now the Environmental Working Group (EWG) has written a report saying that according to federal court documents, Guthy-Renker, the company that owns Wen, had been “quietly conducting numerous safety studies” but has not disclosed the results of the studies to the public.
The EWG writes, “What did those studies conclude? We at EWG want to know—and so do the many people who say they were injured. […] But the woefully weak and outdated federal law that governs the personal care products industry does not require companies like Guthy-Renker to inform the FDA about customer complaints or their own health and safety studies.” This is true. We reported in April of last year that ingredients in cosmetics are not regulated by the FDA. However, there’s a bill called the Personal Care Products Safety Act that aims to get the FDA to set safety levels for five ingredients in cosmetic products: lead acetate (a pigment), methylene glycol (formaldehyde used in some professional hair-straightening treatments), and quaternium-15, diazolidinyl urea, and propyl paraben (preservatives).
Here’s the thing, though: We had a few dermatologists take a close look at the ingredients in Wen’s cleansing conditioner, and they found that none of the ingredients listed on the bottle were suspicious. “The ingredient list shares a lot of things that are common in other shampoos and conditioners,” says Papri Sarkar, a Boston-based dermatologist. Sarkar says that if there’s anything in the formula that could raise some concern it would be sweet-almond oil, fragrance, and flower extracts, which are known allergens. But even then, Sarkar says, if people were experiencing hair loss due to these ingredients, they should have also reported that their scalp was itchy and pink, and that the area around their eyes was itchy and red. “Since the product would run down their face when they’re using it, the area around the eyes is especially sensitive,” she explains.
Joe Hixson, a spokesperson for Wen, says, “We test all our products, as do all reputable companies. As we’ve said before, there is no scientific evidence whatsoever to suggest that Wen products can cause hair loss. That’s what anyone using the product really needs to know.” What do you think? Would it be a good for Wen to release the results of its safety studies?
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