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We've heard of plenty of food hybrids here at Delish, but cars and ketchup? In an effort to salvage the waste created in the production of ketchup, like the tomato seeds and stems, Heinz Company and Ford Motor Company are putting their heads together. The goal, explains FWx, is to create a sustainable material that can be used in vehicle manufacturing. In other words, that Ford Focus you've been eyeing for a while could eventually be made of tomato guts.
As the Ford website further explains, the companies are looking into options such as using dried tomato skins to make the small storage compartments near the vehicle dashboards and the like. The ultimate victory would be to develop 100% plant-based plastics, according to the Associate Director of packaging and R&D for Heinz. And this isn't the first time either company has showed an interest in environmental sustainability and consciousness. For nearly two years, Ford has worked with companies including Heinz and Coca-Cola to lessen their footprint and minimize use of petroleum-based packaging.
We have to assume this doesn't mean your car would smell like ketchup, but we kind of wish it did. Maybe they'll even toss in a burger-scented air freshener to sweeten the deal.
Take a look at this adorable infographic for more information about the project in a pretty pictoral format:
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NEW DELHI (Reuters) - Accumulated losses at SpiceJet (SPJT.BO) have fully eroded the net worth of the company as at September 30, its auditors said on Monday, after the second biggest budget carrier in India posted a quarterly net loss.
The company's ability to operate on a "going concern" basis is "significantly" dependent on establishing continued profitable operations and raising cash to meet short- and long-term obligations, the auditors said in a review report to the company.
(Reporting by Anurag Kotoky; Editing by Anupama Dwivedi)
Trending On Reuters
India's parliament began debating the goods and service tax (GST) on Friday that seeks to transform the country into a common market, but experts said compromises made to enlist the support of states risked diluting the impact of the biggest tax reform in decades. Article
RBI chief Rajan calls for formal financing routes for farmers - report Full Article
India to host Afghan leader, seeks to regain ground lost to China, Pakistan Full Article

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The Pulaski County Coordinated Local Assistance Service Project is getting ready to make the holiday season merry for families in need throughout the community. It includes area churches, service organizations, individuals, schools, law enforcement agencies and businesses who head up the annual toy store, clothing and food box distribution through Pulaski County Human Services. Right now they’re looking for donations of new toys and clothing and items for the holiday food baskets. Volunteers are also needed. Call 574-946-6500 and ask for Midge or Jacki if you would like to help out. Registration is also open for anyone who would like to receive food, toys and clothing this holiday season. Sign up through Dec. 4 at Pulaski County Human Services, 115 W. Pearl St. in Winamac.
Written by Mary Perren
WKVI News Director Mary Perren is glad to be back home in northern Indiana and on the radio. She’s a North Judson native with more than 20 years of news experience. She’s worked in print and radio news in Indianapolis, Hopkinsville, Ky., Nashville, Tenn. and most recently in Winamac before taking over as news director for Kankakee Valley Broadcasting in February of 2013. Her work has been honored by the Associated Press, StateNets News Association, Curb Foundation, Hoosier State Press Association and IBA. When she’s not sitting in the anchor chair or chasing down news, Mary enjoys shopping for antiques, attending concerts and taking long walks and rides in her vintage Saab convertible, weather permitting. She’s also a hopelessly devoted Chicago Cubs fanatic who still cringes at the mention of Steve Garvey and Josh Beckett and maintains it wasn’t Steve Bartman’s fault.


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Could Netflix serve as an inspiration to the luxury watch industry? It can, or at least its co-founder Marc Randolph and his book about the genesis of the streaming service This Will Never Work already has, says Maximilian Büsser, the founder of avant-garde brand MB&F.
“Last year, I read Randolph’s biography. The
"Last year, I read Randolph's biography. The one thing that he has learnt is that you have to try something. Try small. Don't put your whole company at stake. If that doesn't work, try something new,"
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Nvidia Designs Quad-Core CPU for Mobiles
Nvidia is making some serious noise in the channel, and not just about graphics cards. The company’s Tegra line of mobile CPUs have been cropping up everywhere as the mobile tablet/phone wars heat up. Nvidia recently showed off its powerhouse of a CPU dubbed “Kal-El” (which is Superman’s Kryptonian name). But how super is it, and what are the implications for the channel and the ongoing consumerization of IT?
In two years, your phone will be less valuable than a paperweight. (Hey, at least a paperweight was designed to be a paperweight.) The new line of Tegra CPU/GPUs are intense little chips that not only provide ultra-HD resolutions (2560×1600) on both a 10-inch tablet screen and an external monitor simultaneously, they also come complete with a GPU.
It’s not proof of concept — Kal-El is real and was demoed at Mobile World Congress 2011 running on an Android tablet with 1440p video playing and running 3D games. According to Nvidia’s blog, Kal-El is also:
The first mobile quad-core processor. And it contains a new 12-core GeForce GPU. Our customers are getting samples now, and they’re planning production in August.
Wrap your head around that, if you can. That’s a system-on-a-chip with enough density and muscle to outpace anything currently on the market, and could easily outperform current netbooks with a little extra RAM.
So why should the channel care? These devices will be in the hands of your customers, or demanded by them, very soon. Either way, be on the lookout for ultra-powerful tablets and smartphones powered by Kal-El. They have the potential to do so much more than their predecessors, and by proxy, VARs and MSPs have the potential for more services wrapped around those devices.
Flipside: You might want these things for yourself. I think we’re getting very close to a world where an instant-on, always-on powerhouse in your back pocket is easily available and affordable.
The future is here! Get excited!


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The Big Buchan Bridal Bash Wedding and Gift Exhibition is returning to showcase the finest wares the wedding industry has to offer.
The event is taking place from 11am to 4pm on Sunday, September 29, at Banff and Buchan College, including an exclusive, hour-long fashion show starting at 2pm.
Entry to the event is free and everyone is welcome to attend. Whether you have a wedding to plan or would like a look around the stands for gift ideas, there is something for everyone.
To promote the event, The Big Buchan Bridal Bash team will be taking over the Pop-Up Shop at 70 High Street, Fraserburgh, on Friday, August 23, from 9.30am to 5pm.
There will be a range of exhibitors coming to the shop to give a sneak preview of what the show has in store.
For one day only, the Pop-Up shop will be offering those interested in attending the exhibition the chance to collect an early bird fast-track ticket.
Exhibition-goers with this ticket will be able to skip the queue at the door and get into the show hassle-free.
There will also be a chance to buy raffle tickets to win fantastic prizes which will include: win your wedding or event for 40 people at Banff Springs Hotel; half price wedding video package from West Park Productions; £200 off any bridal gown at La Orr; chocolate favours from Fizzy Parties; 10% off any wedding dress at ‘I Do Bridal Wear’; and many more prizes.
Commenting on the Pop-up Shop, Clare Scott, who is organising the events, said: “Preparations are going really well.
“There’s a few of the exhibitors who are coming along who will be at the exhibition including bridalwear, a hotel, stationers, a cake company and a jewellery company.”
For further details, contact Clare Scott on 01771 644163 or email firstname.lastname@example.org
Alternatively, visit the Big Buchan Bridal Bash Facebook page.


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The beauty products from the skin of executed Chinese prisoners
A Chinese cosmetics company is using skin harvested from the corpses of executed convicts to develop beauty products for sale in Europe, an investigation by the Guardian has discovered.
Agents for the firm have told would-be customers it is developing collagen for lip and wrinkle treatments from skin taken from prisoners after they have been shot. The agents say some of the company's products have been exported to the UK, and that the use of skin from condemned convicts is "traditional" and nothing to "make such a big fuss about".
He suggested that the use of skin and other tissues harvested from executed prisoners was not uncommon. "In China it is considered very normal and I was very shocked that western countries can make such a big fuss about this," he said. Speaking from his office in northern China, he added: "The government has put some pressure on all the medical facilities to keep this type of work in low profile."


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Small Business Saturday is a day for everyone — from the business owners who create jobs to the customers who buy locally — to support small businesses that invigorate the economy and keep communities thriving. It began in 2010 when American Express founded Small Business Saturday to help small businesses get more exposure during one of the biggest shopping weekends of the year. Last year, over 100 million people came out to shop at independently-owned small businesses on the day.
I wondered if anyone had noticed the irony of not-so-small American Express sponsoring a small business promotion. Bungalow Bill's blog did.
It's very expensive for small business owners to accept American Express, and many small business owners already hurting to make a profit simply cannot afford to take American Express.
You see, when you shop at a small business and use a credit card, not only are you paying an interest fee or annual fee to use that card, the merchant as well must also pay the fee. For the small business owner, this hurts the already tight bottom line. American Express charges higher fees than other credit cards, which of course takes away from important profits small businesses need to survive in these tough times.
If you are going to visit a small business today, don't pull out your American Express. Pay with dollars. You will be helping the small business owner out.
As I wrote last year on Small Business Saturday, if one 'buys' the set of statistics that —
for every $100 spent in locally owned independent stores, $68 returns to the community through taxes, payroll, and other expenditures, whereas if spent in a national chain, as so many are doing today on so-called Black Friday, only $43 remains locally, and if on-line, probably nothing
—supporting your neighbors would seem to be a mutually beneficial cause.
According to the Small Business Administration, small businesses of less than 500 employees account for around half the U.S. GDP (gross domestic product) and more than half of the employment in the U.S. More than 75% percent of those small businesses have fewer than 10 employees.
But why stop there?
Why not, tomorrow, make it SMALL BREWERY SATURDAY, be that at the brewery (if it has an open house) or at a brewpub, or at an independently-owned beer shop, or at a locally-owned restaurant or pub that supports local beers.
According to the Brewers Association, 97% of the more than 2,000 breweries in the U.S. are small and independent. It defines small as producing fewer than 6 million barrels per year. In 2011, these small breweries, combined, were responsible for 103,585 jobs and produced a total retail dollar value of $8.7 billion.
Tomorrow, while you're at it, why not support your local farm, winery, and cidery? And, for that matter, why not repeat often?


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For many years, LIN Mediaís WTNH-TV New Haven/Hartford, Conn., has
featured a weekly segment focused on a pet in need of adoption.
The segments have resulted in a 100 percent adoption rate for featured
pets on News Channel 8. Marketing Producer Sandy Potter expects
WTNH-TVís partnership with the Robin I Kroogman Animal Shelter to
continue to be a winning campaign.


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BUSINESSDESK: Postie Plus Group has renegotiated its banking covenants with the Bank of New Zealand because there was a possibility it would breach them in October.
"Although it was not clear to Postie Plus Group whether a breach would in fact occur, the company advised BNZ and has now reached agreement with BNZ for a change to the company's banking covenants," the retailer says in a statement to NZX.
The change removed any concern about a breach in October 2012.
In September, the company reported an annual net loss of $183,000 including one-off restructuring costs.
The normalised full-year net profit was $493,000.
Chairman Richard Punter said then that having taken into account the company's financial position and compliance with all banking covenants, directors had decided to pay a final dividend of a cent a share on December 14.
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Qualcomm held its annual Snapdragon Summit in Hawaii this week, while the highlight was Snapdragon 8 Gen 2It wasn’t the only technology on display.
Razer made a surprise debut with the Razer Edge 5G, a Snapdragon-powered gaming laptop that’s meant to rival other laptops like the Steam Deck — and they let us snap a few pictures of the device.
The Razer Edge 5G was initially announced by Verizon in September. The device is the result of a collaboration between Razer, Verizon, and Qualcomm, as the mobile device is built on the Snapdragon G3X Gen 1 gaming platform.
The Edge 5G consists of a 6.8-inch FHD+ AMOLED touchscreen display with a 144Hz refresh rate and a detachable Razer Kishi V2 Pro controller. The console comes in the box and includes micro switch buttons, analog triggers, programmable macros and HyperSense Haptics.
You can also detach Kishi V2 Pro for storage. This means you can toss the console in your bag and put the more fragile screen in your pocket for added protection.
The Edge 5G powers the Razer Nexus gaming console and is compatible with Android devices, PC, Xbox and cloud gaming titles, including games on the Google Play Store and Xbox Game Pass.
It’s the first device to be powered by Qualcomm’s Snapdragon G3x Gen 1, which features active cooling to support long gaming sessions, and runs on Verizon’s 5G Ultra Wideband network in the US.
There’s also support for Wi-Fi 6E and Bluetooth 5.2, and the Edge 5G comes with 8GB of RAM and 128GB of expandable storage. There’s a 5,000mAh battery that can be charged via the USB Type-C port, as well as a 3.5mm headphone jack, a 5MP front camera, and two-way speakers with THX Spatial Audio support.
We saw Edge 5G was able to pull 2Gbps, although the mobile device should be able to pull up to 4Gbps.
We got a chance to get our first look at the handheld device at this year’s Snapdragon Summit, as you can see in these images. However, we can’t share any first impressions of the Razer Edge 5G other than these images at this time.
If you are excited to get your hands on the device, you can expect it to be launched in the US in 2023 at a price of $399.99.


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Show me the money! – Money Mate
Show me the money!
US President Joe Biden’s big stimulus plans, Bitcoin’s price, UK jobs and Australia’s inflation are all in the spotlight this week.
The Aussie sharemarket will be watching Wall Street closely for its reaction to how the Senate treats Biden’s US$1.9 trillion stimulus package, with Republicans already pushing back.
Meanwhile, Bitcoin’s fall from its record high has been swift. After dipping below US$30,000 last week, prompting calls it’s now in a bear market, the cryptocurrency will be one to watch.
On Tuesday we’ll get a snapshot of how months of lockdowns have affected the UK’s unemployment rate – currently sitting at 4.9% – and later in the week US GDP data will reveal how the world’s biggest economy is faring.Tuesday 18:00 AEDT
GBP Jobs data (Nov)
How have the UK’s lockdowns impacted unemployment?Wednesday 01:00 AEDT
US House Price Index (YoY) (Nov)
Have US house prices grown in the last month?Wednesday 11:30 AEDT
AU CPI (QoQ) (YoY) (Q4)
Will Australia’s inflation rise for the second consecutive quarter?Friday 00:30 AEDT
US GDP (QoQ) (Q4)
Has the US economy grown in the fourth quarter?
Have groceries gone up?
Australia’s quarterly inflation figures will be released on Wednesday, spotlighting the change in the price of goods and services across the country.The CPI headline figure was 1.6% in the third quarter on the back of higher childcare fees.The NAB and CBA are forecasting a more modest 0.6% and 0.9%, respectively, in the December quarter.
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EcoSynthetix DuraBind Resin Implemented by Wood Composite Leader
Sustainable, Ontario-based chemicals company EcoSynthetix, announced that one of the top 15 wood composite manufacturers will be implementing their DuraBind resin for particleboards this year. The company published the details in its FY2022 Climate Report last week. The wood composite leader produces particleboards for a renowned international leader and is another step forward in their effort to reduce their carbon footprint.
Particleboard represents 55% of the international retailer’s wood-based resources by weight. The adhesive used for wood products represents 5% of the retailer’s overall carbon footprint. The manufacturer has verified bio-based adhesives as one of the most crucial movements in material selection within their supply chain and a prime enabler of obtaining their goal. This retailer has been using DuraBind resin for commercial purposes for over a year at several of its mills. The next steps that they plan to actualize include increasing the volume of resin used in the mill’s production, extending the resin to other mills they own, and adoption of it by other manufacturers within this retailer’s supply chain.
“This is another significant step forward for this market leader in their ongoing commitment to improving their carbon footprint and emissions,” said Jeff MacDonald, CEO of EcoSynthetix. “Moving to a sustainable, bio-based solution like our DuraBind™ resin can have a material impact in helping them achieve their industry leading climate targets. As thought leaders in their sector, choosing to use innovative, bio-based materials that deliver both value and performance sets a standard for other manufacturers within their supply chain. It’s another example of consumers and retailers becoming increasingly aware of their impact on climate and the choices required within their buying behaviour and supply chain to make a difference.”
EcoSynthetix’s DuraBind is a bio-based alternative to traditional binder solutions that have been used in the wood composites industry for decades. The resin meets the industrial standard in bond and flex strength and offers up to a 25% reduction in board-to-press sticking and a dramatic reduction in MDF blow line build-up. DuraBind enables the development of wood panels that are far more advanced than the existing regulatory standards for VOC emissions and increases the renewable capabilities of engineered wood panels.


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Hey, remember all the fuss about Kylie Jenner becoming the world’s youngest billionaire when she was just 21? To which everyone was like, EXCUSE ME?! Yeah…about that—she may not be billionaire rich anymore (more on that in a few), so let’s dive riiiight in because you need to know more. Immediately.
First Up, Let’s Talk ‘Keeping Up with the Kardashians’
Keeping Up with the Kardashians has been on television since 2007, which means Kylie Jenner has been making mad money since she was a little kid. In late 2016, Forbes reported that the Kardashians’ salaries, while still ginormous, weren’t ACTUALLY as huge as you’d expect—just hovering in the “low seven figures.” Which sort of makes sense considering the show is basically just one massive branding opportunity for the family.
The Hollywood Reporter revealed that in 2015, E! agreed to an $80 million deal through season 14, and Kylie’s certainly getting a slice of that pie. Meanwhile, Variety reports that in 2017, E! agreed to a “below $100 million” deal to renew the show through 2020.
Sooo, About Kylie Cosmetics…
It’s made Kylie a fortune—and the company is only a few years old. Kylie’s most recent Forbes profile claimed that company “revenue climbed 9% last year to an estimated $360 million.” But apparently, these figures no longer hold up.
Forbes recently published an exposé in which they revealed that Kylie Cosmetics, “is significantly smaller, and less profitable than the family has spent years leading the cosmetics industry and media outlets to believe” after reviewing documents from Coty, the company who recently purchased 51 percent of Kylie Cosmetics in November 2019. Coty’s report claimed that Kylie Cosmetics took in $177 million in 2018, not the $360 million that Kylie led Forbes to initially believe.
So maybe “a fortune” was a bit of an overstatement, but hey—moolah is moolah.
Shop Kylie Cosmetics
Also, Don’t Forget About Her Endorsements
Kylie has endorsement deals with brands like PacSun and Puma, and in 2016 always-on-it Forbes estimated that close to 20% of Kylie Jenner’s $18 million earnings came from these deals. DAMN.
So, What’s Kylie’s Total Net Worth?
Just slightly more than the total value of her company! Forbes estimates that she’s worth just under $900 million thanks to money from Kylie Cosmetics, endorsement deals, her clothing line with Kendall Jenner, and of course her stint on the long-running E! reality show Keeping Up with the Kardashians (not to mention Life of Kylie).
Source: Read Full Article


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The powers that be have yet to make an official ruling about whether we’re in a recession, but that hasn’t stopped businesses from factoring a recession into their plans for the coming months. Earlier this week, we looked at how the sell side is approaching a possible recession. This week, it’s the buy side’s turn.
Digiday+ Research surveyed 85 professionals from the buy side — in this case, agencies and brands — to find out whether they’re expecting a recession in the coming months and, more importantly, what they’re planning to do about it.
First of all, Digiday’s survey found that buy-side pros are definitely expecting a recession to happen in the next six to 12 months: 56% of agencies and brands said they agree somewhat or strongly that we will be in a recession in the next six months, and 67% said the same of the next year. Meanwhile, only 18% of respondents said they disagree somewhat or strongly that a recession will occur in the next six months, and only 15% said they disagree there will be a recession in the next year.
Despite the apparent agreement among buy-side pros that a recession is on its way, agencies and brands either don’t know what the outcome of a recession would be for them, or they’re waiting to make any guesses one way or another.
When asked whether they’re worried for their jobs or their companies in the event of a recession, not one answer choice garnered even 30% of respondents. When combining those who said they disagree somewhat or strongly that they’re worried about their jobs, just over half (51%) of respondents said they’re not worried. And 45% said they disagree somewhat or strongly that they’re worried about their companies.
On the flip side, only 28% said they agree somewhat or strongly that they’re worried about their jobs if we enter into a recession, and slightly more than a third (34%) said they agree somewhat or strongly that they’re worried about their companies. All in all, Digiday’s survey found that agency and brand pros don’t have strong feelings one way or another about whether a recession will cause them to worry.
The buy side’s wait-and-see approach to a possible (or probable) recession became more clear when agency and brand pros told Digiday what their companies have done to prepare — mostly because the most popular answer was that agencies and brands haven’t done anything to prepare for a recession. Forty-five percent of respondents said their company hasn’t made any preparations related to a recession.
Meanwhile, the next most-popular answer followed fairly far behind, with 35% of agency and brand pros saying their companies have cut travel and entertainment spending. Instituting hiring freezes or slowdowns was the third most-popular answer among respondents, 29% of whom said their companies have done this.
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The OMGVoice fashion police are out to arrest the wrongdoers!
The crime was committed on Saturday, April 8th, 2017 at the 2017 Ghana Music Awards, and the culprit is no other than our brother from the Westside, Edem.
What exactly did he do?
He showed up at the 2017 VGMA looking like this.
Ummmm, we are just not sure what is going on here.


text: Company Updates Blog Syte and Farfetch win Best Brand Collaboration and Best Product Launch Campaign at the Glossy Awards Europe Lihi Pinto Fryman July 25, 2019 2 Min Read Syte and luxury fashion marketplace, Farfetch, are excited to announce that the two companies won the first-ever Glossy Award Europe in the categories “Best Brand Collaboration” and “Best Product Launch Campaign” for ‘See it, Snap it, Shop it’. The Glossy Awards Europe recognize the companies transforming the European fashion and beauty industries. On July 9, 2019, the organization announced the first batch of winners as judged by executives from top media and retail brands such as Work&Co, Glamour U.K and Fekkai Bastide Retail Brands, and more. Farfetch, the luxury online retail platform that serves shoppers in almost 200 countries, collaborated with Syte and launched the award-winning, in-app ‘See it, Snap it, Shop it’ feature in 2018. Powered by Syte’s visual AI technology, the solution allows customers to take a photo or a screenshot of any outfit inspiration and shop visually similar options available in the Farfetch inventory. To encourage user adoption, Farfetch and Syte rolled out awareness-focused campaigns that educate shoppers about the functionality and benefits of using the in-app visual search tool during the product launch. Syte powers visual search, recommendation engines, deep tagging, and in-store smart solutions for retail. Through its visual AI technology that is industry benchmarked as best, Syte empowers brands, retailers, and marketplaces like Farfetch to connect more customers to products that inspire them. In an increasingly visual world, Syte provides retailers with a strong competitive advantage that delivers a unique, convenient, and relevant customer experience that shoppers are looking for. To know more about this exciting news and the other winners reinventing the beauty and fashion industries in Europe, check the Glossy article here.


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Cordray to join Pitney Bowes as president of Volly
Pitney Bowes is planning a second-half 2011 launch for Volly, which will enable brands to send messages such as bills, promotional mail and catalogs directly to consumers through an app. The Volly application will be available for the iPhone and iPad, as well as desktop and laptop computers. The company is also planning an Android version of the app.
Cordray, based in Pitney's Stamford, Conn., headquarters, will report to Leslie Abi-Karam, EVP and president of mailing solutions management. He will have six VP-level direct reports, he said.
“What I will focus on is working with the team to nail the consumer experience, the ease of use and the range of creativity,” said Cordray. “We want to make this as simple and intuitive as possible.”
He added that he was attracted to the position because it offered the same challenges and opportunities as working for a startup company.
“I was excited about being able to join something that is new and exciting,” said Cordray. “It will be an exciting consumer trend: consumer control of all communications coming towards them in all forms…This will continue to evolve and I want to be a part of this.”


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Cadillac’s pretty serious about taking down their German rivals. The ATS-V is a thorough example of this, as an attempt to dethrone the venerable BMW M3/M4.
However, if you are familiar with BMW, you’d know that it’s not just the sedan and coupe that exist in the world of the M3 as there are plenty of more hardcore editions such as the E46 M3 CSL and the E92 M3 GTS.
Taking that into consideration, word is Cadillac might be interested in following suit with the ATS-V by making a more hardcore variant to the already preexisting version.
“We might have something down the road that is a little bit more aggressive,” said chief engineer, Dave Leone, to CARandDRIVER in a recent interview.
Not much else is known, but the market is rich for such variants, as shown by the existence of the Mercedes-AMG Black Series, and the newly-established Jaguar SVO division and their new R models.


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US megaretailer Target is having a tough time of it.
Having said that, so are its customers – and even, as it now turns out, many of its non-customers, too.
Late in 2013, pretty much half way between Black Friday and Christmas, Target realised it has been, well, the target of an enormous data theft.
As far as Target could tell, its breach wasn’t quite in the very top league, such as those of Adobe and Sony, both of whom had been plundered in the past to the tune of more than 100,000,000 records.
But the breach at Target was epic by any standards, with 40,000,000 payment card records sucked up by cybercriminals.
→ Early reports suggested that printed CVVs (the three digit codes that only ever appear in printed form on the back of your card) had been stolen along with card numbers, expiry dates and so forth. We were sceptical, as we explained in Episode 127 of the Chet Chat podcast, because the stolen records appeared to relate to in-store purchases, also known as card present transactions, where the CVV is not used. Target subsequently confirmed that these printed security codes were not stolen. That reduces the risk of fraudulent on-line purchases, because card not present transactions usually require the CVV.
Sadly, Target just got promoted to the top league.
The company has now joined the “hundred million plus” data breach club, following its discovery that a further 70,000,000 records were plundered in the raid:
As part of Target's ongoing forensic investigation, it has been determined that certain guest information - separate from the payment card data previously disclosed - was taken from Target. This theft is not a new breach, but was uncovered as part of the ongoing investigation. At this time, the investigation has determined that the stolen information includes names, mailing addresses, phone numbers or email addresses for up to 70 million individuals.
From this, it seems reasonable to infer that the crooks who got into Target’s network enjoyed much wider rein than was obvious at first, penetrating more than one business system.
Presumably, from Target’s use of the words “guest information,” this additional data wasn’t related only to customers who actually purchased something from one of the company’s stores during the November-December 2013 timeframe, but also potentially to anyone who has ever interacted with Target in any way.
In other words, you may be at risk from this exposure even if you’ve never bought anything from Target.
In some ways, this second part of the breach is worse than the first, because it involves truly personal PII (personally identifiable information).
That’s because, for most people, getting a new credit card is actually much less disruptive, and considerably easier, than getting a new phone number or a new address.
And in case anyone was in any doubt whether a breach is bad for the company that gets breached, Target has the answer.
As well as presenting bad news to its customers and so-called “guests,” the company has had to publish an update to its fourth-quarter financial predictions.
Target is warning shareholders that EPS (earnings per share) will most likely end up at $1.20-$1.30, down from earlier predictions of $1.50-$1.60.
It is also warning of poorer-than-expected sales, despite upbeat performance until the original breach announcment:
This outlook anticipates a fourth quarter 2013 comparable sales decline of approximately (2.5)%, compared with prior guidance of approximately flat comparable sales. The updated sales expectation reflects:
* Stronger-than-expected fourth quarter sales prior to the Company’s December 19, 2013, announcement of a payment card data breach;
* Meaningfully weaker-than-expected sales since the announcement, which have shown improvement in the last several days, and;
* A comparable sales decline of (2)% to (6)% for the remainder of the quarter.
Target isn’t mincing its words: the breach has hit the company where it hurts.
Let’s hope that there aren’t any more databases that the crooks got into while they were targeting Target.
Imagery of bullet hole courtesy of Shutterstock.
5 comments on “Target’s data breach MUCH bigger than first thought – now more than 100,000,000 records”
I don’t understand how the breach could endanger anyone who has ever interacted with Target in any way. If this is true, then Target must have other information in the stolen information/database other than credit card information/Name/Address. That sounds like they had credit bureau type info.
I’m assuming what they mean by “guests” are people who have done things such as filling in surveys, requesting catalogues, entering competitions, and the like, whether they later went on to become customers or not.
The whole problem seems to be that this isn’t additional information that happened to be in with the credit card data – it’s data taken from a completely different system, perhaps even one from a completely different business division (e.g. from marketing, not from sales).
That’s why I described the breach as 40,000,000 records, plus “a further 70,000,000 records,” and why I ended with, “Let’s hope that there aren’t any more databases that the crooks got into while they were targeting Target.”
In other words, it seems that what we have is a giant breach consisting, so far, of two big sub-breaches…
Any speculation why Target’s internal security tools failed to stop these breaches? And secondly, considering that Target is a huge corporation with presumably top-notch security people and big security budgets, does this mean smaller retailers and online merchants with much smaller budgets for security are more at risk for this kind of breach? What should every merchant now do in light of these revelations?
The problem with security tools (in general) is that they’re really good at detecting things they’ve been told exist, and usually pretty bad (though getting better) at detecting things that have never been seen before. That’s why targeted attacks are so effective.
Just because a company is big and has the resources to have top-notch security people, doesn’t mean they do. Shareholders don’t like companies spending a penny they don’t have to, and, sadly, good security practices are often seen as paranoid, unneeded spending. You’re actually much safer shopping with retailers hit with huge data breaches a few years prior, because there’s just about the only businesses with the proper amount of fear and good judgement put into them.
Every merchant should do now what every merchant should do always. Assume you’re going to get hit, secure your data accordingly, and don’t keep data you don’t need! Do you settle for “This is probably good enough.” It probably isn’t. Don’t do your own card processing if you can avoid it; do your research on the security of available card processors and trust them to be more competent (because it’s their business, not yours).
Excellent information and advice. We just hope it is well-taken by companies big and small and that it is a wake-up call to all consumers to have ID Theft protection in place before it is needed.


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The acquisition, expected to close by the end of the year, would expand Iron Mountain's services for the legal market, enabling it to offer software and services that cover discovery and data investigations, compliance and associated records management, and litigation matters.
Stratify is a privately held Mountain View, Calif., company that offers software and services that organizations use in gathering discovery-related electronic information, whether in Microsoft Office documents, PDF files, or e-mail. Discovery is the process of gathering data requested by the opposing side of litigation. Stratify's software, however, also is used in investigative and regulatory matters.
Iron Mountain, a Boston-based company with revenue of $2.4 billion last year, offers products for data protection, records management, and disaster recovery back-up services. The company already has a sizable business in the legal market, so the Stratify offerings would augment Iron Mountain's existing portfolio. For Stratify, the acquisition provides a larger sales and distribution operation.
Iron Mountain plans to operate Stratify as a division that would continue to sell e-discovery products, which are used by a number of large companies. Stratify says its software can reduce expenses for law firms and corporations by providing lawyers with a single review application for scanned paper and native electronic documents. In addition, the software manages documents through the entire discovery life cycle.
The latest acquisition is the second announced by Iron Mountain this month. The company expanded its presence in the health-care sector through the purchase of RMS Services, which generated $27 million in sales last year. Financial terms weren't disclosed.
RMS is a records and file-room management services company that helps health-care providers convert records to electronic format and then store them. The health-care industry is gradually trading in paper-based medical records for electronic systems, creating a huge sales opportunity for records management companies.


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Announcing its decision on the petition filed by the federal government, NEPRA adjusted the tariff of K-Electric under the head of Uniform Tariff Policy.
Across Pakistan, electricity users are charged a flat or “uniform” tariff, as per government and NEPRA rules and regulations. Individual distribution companies cannot unilaterally make any changes. All such petitions are subject to a public hearing and review prior to approval. A public hearing on this petition was held on December 27, 2022.
As per the NEPRA decision, the approved uniform quarterly tariff revisions will be applicable to KE customers for a period of 4 months from January 2023 to April 2023 which will be applied to the consumption for the months of October, November, December 2022 and January 2023 after notification by the federal government. For accounts already issued in January 2023, adjustments will be charged the following month.
According to the decision, the application of the 4th quarterly adjustment by category is as follows:
Residential consumers with consumption up to 300 units (excluding lifeline customers) will be charged Rs. 1.4874 per unit, while residential consumers with consumption above 300 units will be charged Rs. 3.2116 per unit. All other categories are charged Rs. 4.4547 per unit.


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Thursday, March 18, 1999 Published at 15:37 GMT
Business: Your Money
Car makers 'distorting' prices
MMC will now investigate the UK's £24bn new car industry
The OFT says it has referred the matter to the Monopolies and Mergers Commission (MMC) for deeper investigation.
The OFT's initial enquiries follow investigative reports aired on television last year which were said to show that carmakers were dictating the retail prices of their cars to dealers, preventing the retailers offering discounts.
John Bridgeman, director general of the OFT said: "It is clear that the market isn't working properly and that there is an imbalance of power between manufacturers and dealers, which is distorting competition.
The OFT says that most dealers "appear to be far from independent" and reported an uncooperative response from some manufacturers.
The OFT said that its seven-month inquiry found that manufacturers would not give volume discounts to dealers, which could have been passed on to the consumer.
In addition, the practice of setting 'recommended retail prices' by manufacturers appeared to give good profits to even inefficient delaerships.
'Nothing to hide'
The Society of Motor Manufacturers and Traders (SMMT) said in a statement it would co-operate fully with an inquiry, that it had "nothing to hide" and that the industry adhered to "the framework of rules defined by UK and European governments".
A 1992 MMC report found competition satisfactory in the industry. The European Commission is to inquire into retail distribution overall across Europe.
Your Money Contents


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Check out what the media said about Logitech products this week.
This week, Logitech announced the Logitech G810 Orion Spectrum Mechanical Gaming Keyboard, with top gaming and technology outlets such as PC Gamer, PC World, Tom’s Hardware and The Verge sharing the news. Polygon described it as Logitech’s “best gaming keyboard to date” and noted that it “seems to nail the sweet spot between aesthetic and features.”
Lewis Leong of IGN featured the Logitech G502 Proteus Spectrum in a list of best gaming mice, highlighting it as “one of the most versatile gaming mice on the market, with a highly accurate sensor, on the fly DPI settings, and a handy sniping button.”
Alex Cranz at Gizmodo featured the Logitech Harmony Elite in a how-to guide titled, “Build This Dream Theater for Your Super Bowl 50 Party.” He stated, “A butler, a TV, and a good audio system are fine, but you still need something to control it all.”
Andy Taylor of TechTalk Radio posted his interview with Vincent Borel, Business Manager of Consumer Video at Logitech, and highlighted the Logi Circle’s value in capturing events in our everyday life.


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Daily VideoJanuary 30, 2014
With smart gadgets everywhere, tech companies face new privacy questions
With smart gadgets becoming a ubiquitous part of everyday life – embedded in cars, watches, glasses refrigerators and even thermostats – many fear the ways that private companies could misuse private customer data.
At the Consumer Electronics Show in Las Vegas this month, Jim Farley, a marketing executive at Ford Motor Company caused a stir when he said, “By the way, we know everyone who breaks the law, we know exactly when you do it, because we have a GPS sensor in your car, we know where you are, and we know how fast you’re driving. But, seriously, the — we don’t supply that data to other people either.”
Ford later went on to insist that it doesn’t track or transmit data from vehicles without a customer’s consent.
Google and Microsoft have also recently faced accusations that their products could violate users’ privacy. Google recently bought the smart thermostat and appliance company Nest Labs, which collects data from the home and connects to phones.
The company says that means it will not share the data with its new owner, Google.
Warm up questions
- What are some electronics you use that collect data on your location and what you’re doing?
- Should some types of data be private? Which kinds?
- Do you ever think about how your personal data might be used by companies? Why or why not?
Jim Farley, a marketing executive at Ford Motor Company caused a stir when he said, “By the way, we know everyone who breaks the law, we know exactly when you do it, because we have a GPS sensor in your car, we know where you are, and we know how fast you’re driving. But, seriously, the — we don’t supply that data to other people either.”
- What questions do you have after reading that quote?
- How can you be sure that technnology companies aren’t using your private data?
- Why do you think that Google bought Nest Labs? What direction might they want to take their corporate mission through this technology?
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“As the shopping season draws to a close, budget-conscious parents are likely hoping that end-of-summer sales and promotions will be just what they need to wrap up their school lists,” says Matthew Shay, president and chief executive officer, NRF. “Much of the delay this summer could also stem from families holding out for a sales tax holiday in their state, as well as from influential teenagers who want to first see what their friends are buying before they ask mom and dad to commit to their fall needs.”
According to the survey, as of Aug. 12, fewer families had stepped
College families on the other hand, got a good jump on retailers’ sales and promotions this summer: 23.4 percent say they are completely finished with their lists, up from 20 percent last year. Additionally, slightly fewer families this year say they haven’t started shopping (26.2 percent vs. 28.8 percent last year.)
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The Hyde Park Summer Sidewalk Sale is back for 2023 – taking place Thursday-Saturday, July 20-22 from 9:30 a.m. – 6:30 p.m. in the Courtyard at the Hyde Park Shopping Center at 55th Street and South Lake Park Avenue.
Participating businesses include:
30-60% off! Last of a kinds, old friends, overstock, shopworn stuff, and discontinued toy gems! Out on the sidewalk, prices slashed to the bone, and yours for a bargain!
Savings on women’s clothing tops and bottoms, men’s and women’s sandals, running shoes, dress shoes, and much more.
Sponsored by the University of Chicago in partnership with Downtown Hyde Park and the Hyde Park Chamber of Commerce.


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North Texas continues to attract new and larger businesses. Now Comerica Bank has announcement that construction of its new office tower at The Star in Frisco will begin later this year and is expected to open between late 2023 and early 2024.
The business and innovation building will complement Comerica’s headquarters in downtown Dallas, where executive offices, commercial banking, wealth management and other business units will continue to operate.
“This represents a significant investment in Comerica’s strategic vision,” Megan Crespi, executive vice president and director of technology and business services for the company, said in an official statement. “Expanding our headquarters footprint to one of the most sought-after locations for business and innovation in the United States positions our bank for future success.”
As previously covered by Local profile, North Texas is becoming an attractive destination for businesses in different fields, especially the technology industry. It’s no wonder Comerica wants to set up a new space including an innovation center to test new concepts and a tech genius bar in Frisco after other tech companies called dibs on spots around town.
“Frisco is known for cultivating an exceptional environment for businesses to thrive,” said Brian Foley, President of Comerica’s Texas Market. “The hub’s on-site amenities and prime location will help support our company’s vision for future growth, including our ability to attract and retain top talent.
Comerica will also come with employment opportunities for the region. The new building is expected to house approximately 300 workers from various teams, including technology and product management to front-line business units, and will include learning and interview centers at the new human resources office.
The company hopes The Star’s mixed-use campus will provide colleagues with entertainment, sports, retail, residential and educational opportunities that will further enhance the worker experience and help attract new talent in the process.


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Bitcoin hit a new record high Thursday with rising investor interest causing a rally for the price of the cryptocurrency.
The bitcoin price hit an all-time high of $5,144.97 in early trade on Thursday, according to data from industry website Coindesk. This surpassed the previous high of $5,013.91 hit on September 2.
Investors appear to have shrugged off much of the negative news from regulators around bitcoin.
Bitcoin values soaring in 2017
Bitcoin’s prices in 2017 have been nothing short of spectacular. The crypto currency often referred to as digital gold blew past the prices of the precious yellow metal in mid 2017. Bitcoin prices flirted with the $1000 mark in January this year but after that rapid acceptance of the virtual currency saw a boom in its prices.
Reports have emerged in the last few days that trading in the world’s second-largest economy could resume. A report by Cryptocoinnews.com, citing Chinese state-owned news company Xinhua, said that bitcoin trading will likely resume with more regulation. This could include new licensing and anti-money laundering regulations to be implemented by exchanges.


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|Country||Value (USD Million)|
|United Arab Emirates||33.39|
Which country allow to import onion from India?
|1||U S A||459.00|
Is export of onions banned in India?
The central government on Monday removed the ban on the export of all varieties of onions with effect from January 1, 2021. … Onions, including Bangalore Rose onions and Krishnapuram onions, have been allowed for export from January 1, 2021.
Where are onions exported?
The 5 biggest exporters of onions are Netherlands, China, Mexico, Indian and the United States sold 59.9% of all onions exported during 2020. That percentage indicates a concentrated international market of onion sellers.
Is India importing onion?
“As a result of these measures, onion import came in significant quantities from October onward, and by the end of December, 2020 a total of over 65,546 MT was imported,” he added.
Can onion be exported from India?
India exported onions valued at $198 million in the April-June period of FY21 and $440 million through 2019-20. The country had exported around 10 lakh tonne in 2019-20. Bangladesh, Malaysia, the UAE and Sri Lanka are the top importers of Indian onions.
Which country onion is best?
China – Ranked #1, the country accounts for 24.92% of total world Onion production. Cultivated over 1,127,609 hectares. Yield: 220,896 hg/ha. India – Ranked #2, the country accounts for 22.83% of total world Onion production.
Does India import onion from Pakistan?
New Delhi: The government has decided to import onions from ‘Pakistan, Egypt, China, Afghanistan or any other origin’, according to a Metals and Minerals Trading Corporation Limited notifications. … Earlier, in February India had hiked customs duty on all goods imported from Pakistan to 200%.
Which country exports the most garlic?
Garlic production in China is significant to the worldwide garlic industry, as China provides 80% of the total world production and is the leading exporter. Following China, other significant garlic producers include India (5% of world production) and Bangladesh (1%).
Does the US import or export onions?
Between 2013 and 2017, U.S. imports of onion sets from Peru were valued at approximately $400 per metric ton. Peak months for imports of onion sets were December through March. The U.S. is the biggest export market for fresh onions from Peru and is increasing in its importance.


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“It has been massively challenging but also massively rewarding,” says Pete Ehemann. He’s talking about the process involved in setting up The Cumberland, a speakeasy cocktail bar a street back from the beach in the Sydney suburb of Manly — the first time he’s had a piece of a bar himself.
Tag: Petr Dvoracek
The Ketel One Hundred Club is a new initiative by the luxury Dutch vodka brand that has been formed of 10 bartenders from each of the 10 key Ketel One markets around the world. In Australia, Diageo’s Reserve Brands invited the top entrants from the World Class Vodka Martini Awards to join.


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The OnePlus 8T has just debuted with a phone featuring a 120Hz AMOLED panel, 65W fast charging and a new design. OnePlus is now shifting gears to focus on its flagship portfolio in 2021.
OnePlus usually releases its numbered flagship in May, but this year it unveiled the OnePlus 8 series on April 14th and started selling on April 29th. In 2021, we plan to launch the OnePlus 9 series in March.
OnePlus 9 release date
OnePlus has yet to set a release date for OnePlus 9, but according to information received from insider sources, the launch event is scheduled for around mid-March. OnePlus isn’t the only company considering the early launch of its flagship product in 2021. Samsung will also launch the Galaxy S21 series in January, six weeks earlier than the usual February launch period.
It’s no wonder OnePlus wants to release OnePlus 9 in March. This will give the numbered flagship series more time on store shelves before the T mid-cycle refresh appears in the fall. By launching the OnePlus 9 in March, OnePlus will be able to position its flagship products in 2021 more effectively than Samsung, Xiaomi, etc.
With the initial launch, the OnePlus can better position the OnePlus 9 than the Galaxy S21.
It’s too early to speculate about the OnePlus 9’s internal hardware, but the OnePlus is likely to leverage Qualcomm’s upcoming 5nm chipset, the Snapdragon 875. The OnePlus 8T guides 65W fast charging through Warp Charge 65, so the OnePlus 9ga series offers the same charging standard. IP68 waterproof, wireless charging and camera upgrade should also be checked.
As for how accelerated launches will affect mid-cycle refreshes, it will be interesting to see if OnePlus maintains its dual flagship launch cycle going forward. OnePlus avoided the 8T Pro and launched only the regular OnePlus 8T in this generation, and you can only get one flagship series a year as the company is increasingly focusing on carrier partnerships in the United States.
OnePlus’ business model of selling phones for just six months before releasing a new version doesn’t cut it anymore. Carriers like Verizon and T-Mobile want to sell their phones for at least a year, and the T-Mobile variant of the OnePlus 7T is still on sale almost a year after launch. The unlocked version has been sold out for months. before.
What’s the next step for OnePlus Nord?
OnePlus can focus on the Nord series to increase sales in the future. The OnePlus 8 series hasn’t been sold in meaningful numbers to the company, but the OnePlus Nord continues to do well in major markets like India.
OnePlus introduces two models to the Nord series later this year. It’s the OnePlus Nord N10 5G and entry-level Nord N100 heading to the U.S. powered by the 5G-ready Snapdragon 690 chipset.
In 2021, OnePlus was able to bring the OnePlus 9 series to the default flagship option of the year, then turn its efforts into the mid-range and budget segments with multiple Nord devices throughout the year. We have to wait to see how that goes, but we will learn more about the OnePlus 9 in the coming weeks.


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June 19, 2019 Industry news
The results from our product data survey are in: it is clear that consistent, high-quality data is now of paramount importance to branded suppliers in the grocery industry
A couple of months ago, we asked you to take part in a short survey to help us better understand your pain points when it comes to managing and sharing product data in the grocery sector. The results we received were conclusive.
Product data is seen as a key priority for 91 per cent of respondents. The 9 per cent who don’t see it as a priority come from companies in the less than £10m annual turnover band.
Complete and transparent product data is seen as either “important” or “very important” to sales by 93 per cent of respondents. Not a single respondent thought it to be a trivial part of their selling success - a firm indication of the overall need for complete and transparent product data.
Additionally, when asked if the importance of accurate product data has changed over the past five years, 80 per cent agreed that it is “more important now than it was five years ago”, with no-one selecting it as “less important”.
Moving from the impacts of good data to the consequences of bad data, we found that more than half of respondents felt that poor-quality data had a “high impact” on operational efficiencies, with only 2 per cent feeling it had a negligible part to play.
Interestingly, every company with an annual turnover of less than £10m said that poor data had either a high or medium impact on operational efficiencies, highlighting a need for the wider industry to ensure data quality.
An overwhelming percentage of companies surveyed (78 per cent), said that they mostly use spreadsheets and emails to manage and share their product data with customers. This jumps by 16 per cent to 94 per cent for companies with an annual turnover less than £10m. A labour-intensive process which can be susceptible to and magnify human error, manual data entry will almost always have an effect on overall operational efficiency.
One of the key touchpoints for data sharing with retailers and wholesalers is the launch of new product lines. When asked which element of the new-lines process respondents would most want to improve, almost half of those surveyed said they would like to see a “standardised process for sharing data with multiple retailers”.
This was closely followed by approximately one in three citing “an easier way to collate product data from multiple sources”, with one in five respondents seeking more clarity around what information is required by retailers.
The results of the survey clearly point to the need for an easier, clearer way to collate and share product information that streamlines the new-lines process. This is underscored by the fact that 57 per cent of respondents said that they have to complete between two and five new-line forms/retailer portals per new product. This increases to 64 per cent for those with an annual turnover of less than £10m.
Significantly, one in three respondents have to complete more than six new-line forms/retailer portals per new product, with 7 per cent of those surveyed having to complete more than ten.
Again, this highlights just how labour intensive the manual process of launching new products to market can be for the average company.
We also posed a question around what our respondents deemed to be the most important factors when selling grocery items through multiple online retailers.
High-quality brand images are seen as the most important factor by four in five of those surveyed, although this dropped to 54 per cent for those working for companies with a turnover of less than £10m. Half of respondents believed that both consistent product information and price were the next most important factors, with this changing to price (37 per cent), product information (28 per cent) and product reviews (28 per cent) for companies with a turnover of less than £10m.
This clearly shows that brand owners hold good product information, both visual and descriptive, as key influencing factors when selling grocery items online.
While not particularly sexy, the statistics show that high-quality product data is becoming more and more important to both retailers and brands, particularly as consumers become increasingly demanding about the products they buy.
But it is not just the data itself that is important – it is also the way in which it is captured and shared.
productDNA provides a one-stop shop for capturing and sharing product data with all retailers. Using a standardised, industry-designed data model, required product attributes are consistent across all retailers and are clearly explained within platform.
As a branded supplier, this means that you only need to capture your product data once to be shared directly with all your customers through the platform or via a full export.
The quality of all inputted data is also guaranteed, as every product entered into the platform undergoes an independent physical check for data accuracy and consistency. This means both suppliers and retailers have more confidence in the data provided, improving efficiency and trust across the entire industry.


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UK unveils ‘world-leading’ Digital Strategy
March 1, 2017
Karen Bradley, the UK Culture Secretary, has launched a Digital Strategy designed to create a world-leading digital economy that works for everyone, with skills, infrastructure and innovation at its heart. It backs the UK digital sectors to invest for the long term and includes measures to help all businesses harness the productivity benefits of digital innovation.
The strategy follows the recent modern Industrial Strategy, and will help Britain to build on its strengths to secure a future as a competitive, global nation.
According to the government, businesses have played an important role developing the strategy. To capitalise on these new relationships and deliver a thriving, outward-looking digital economy, the strategy also sets out plans to empower innovative businesses and deliver world-class connectivity. This includes:
- The creation of five international tech hubs in emerging markets to create and develop partnerships between UK companies and local tech firms. These hubs will help provide British businesses with a global competitive edge and drive collaboration on skills, innovation, technology, and research and development. The hubs will be based upon the successful UK-Israel Tech Hub which to date has delivered more than 80 partnerships with a deal value of £62 million (€72.46m).
- A new competition to spark the development of new FinTech products that can support those who struggle to access financial services and provide consumers with the tools they need to manage their finances well. This will build on the UK’s existing lead in the FinTech sector, which was worth more than £6.6 billion in 2015, and make sure the digital economy works for all, not just the privileged few.
- A commitment to create a Secretary of State-led forum for government and the tech community to work together to spark growth in the digital economy – through innovation and the adoption of digital in the wider economy.
- A Business Connectivity Forum, to be chaired by the Department for Culture, Media and Sport, to bring together business organisations, local authorities and communications providers to help businesses access fast, affordable and reliable broadband.
- Confirmation of £1 billion programme to keep Britain at the forefront of digital connectivity, announced at Autumn Statement. This funding will accelerate the development and uptake of next generation digital infrastructure – including full fibre broadband plans and 5G.
Secretary of State for Culture, Media and Sport Karen Bradley said the UK’s world-leading digital sectors were a major driver of growth and productivity, and the government was determined to protect and strengthen them. “This Digital Strategy sets a path to make Britain the best place to start and grow a digital business, trial a new technology, or undertake advanced research as part of the Government’s plan to build a modern, dynamic and global trading nation. To do that, we will work closely with businesses and others to make sure the benefits and opportunities are spread across the country so nobody is left behind,” she vowed.
“There should be no digital divide – every individual and every business should have the skills and confidence to make the most of digital technology and have easy access to high-quality internet wherever they live, work, travel or learn.”
At the heart of the strategy are steps to ensure everyone can develop the skills they need to thrive in an increasingly digital world and measures to help businesses harness the benefits of innovation.
Government has taken the lead in this area and has committed to help adults who lack core digital skills to access training free of charge, similar to the approach taken for literacy and numeracy. The strategy builds on this by establishing a Digital Skills Partnership and, as part of the Digital Strategy, Government has secured the following new pledges from private sector organisations:
- Google will launch a Summer of Skills programme in coastal towns across the UK. It will develop bespoke digital skills training schemes to help boost tourism and growth in seaside towns.
- Lloyds Banking Group is to give face-to-face digital skills training to 2.5 million individuals, small and medium businesses and charities by 2020. The training, as part of its Helping Britain Prosper Plan, will include Internet banking.
- Barclays will assist up to 1 million people with general digital skills and cyber awareness in 2017, grow its UK Eagle Lab network by up to 100 per cent, and teach basic coding to 45,000 children.
- BT will expand its Barefoot Computing Project to enable a further 500,000 children to develop early computational thinking skills by the end of the 2017/18 academic year. The scheme helps primary school teachers with no previous computer science background feel confident to teach the new computing science curriculum.
- The HP Foundation will bring a free online learning platform – HP LIFE – to the UK. This will improve business, IT and digital skills for disadvantaged groups in the UK and aims to reach 6,000 new UK users over the next five years.
- Accenture will partner with FutureLearn to develop a new national digital skills programme to boost learning through online collaboration. Through partners, the programme could reach as many as 100,000 people across the UK.
Josh Hardie, CBI Deputy Director-General, said that UK companies were at the forefront of the digital revolution. “The pledges announced by the Government underline businesses’ commitment to build the skills we need for a modern economy, as well as tackle barriers to technology adoption. To uphold our position as a world-leading digital economy businesses, we and the Government need to work together – the strategy’s focus on skills, connectivity and innovation provide a useful framework for this.”
Ronan Harris, Google Managing Director UK & Ireland, said: “We believe that digital can have a transformative impact, no matter where you live and what your job is. Everyone deserves access to the tools and opportunities the web has to offer and that is why we welcome the Government’s timely Digital Strategy which ensures the benefits of the digital economy are spread across the country.”
“We are delighted to be part of the Digital Skills Partnership and will continue to invest in the free skills training offered through the Digital Garage, launch a new programme aiming to help seaside communities, and – as a global first – are launching engineering apprenticeships, giving young people without a degree the opportunity to join Google’s world class software teams.”
The strategy also contains new measures to support Britain’s world leading AI sector which announced previously. A major AI review led by Wendy Hall and Jérôme Pesenti to identify the critical elements for this exciting technology to thrive and grow in the UK. It will consider how Government and industry could work together to back this technology, with the aim of establishing the potential for a possible sector deal. The UK is already a world-leader in the science underpinning this technology and the sector has the potential to grow further, from early research to commercialisation.
A funding boost of £17.3 million from the Engineering and Physical Sciences Research Council (EPSRC) to support the development of new robotics and artificial intelligence technologies in universities across the UK.
The strategy also builds on the Government Transformation Strategy, launched earlier in February 2017 by Minister for the Cabinet Office Ben Gummer, which maps out how Government will transform the relationship between the citizen and the state to improve public services. This has ambitions to make it as easy to renew a passport or report a crime as it is to buy a book online, and aims to sign up to 25 million people onto the Government identity service Verify by 2020.


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Southern Metropolitan News, 7/22/11
Chinese online P2P video service provider, download accelerator software developer, and online game operator Xunlei has postponed its Nasdaq IPO for an indefinite period of time. A spokesperson for Xunlei said the decision was due to current US stock market conditions as well as uncertainty regarding Chinese firms after a series of accounting scandals.
Xunlei had originally planned to list on July 20 and then delayed listing for one day. Xunlei previously lowered its expected IPO share price from USD 14-16 to USD 12-14, and the number of shares to be issued from 7.6 mln to 6 mln, meaning the company would raise a total of USD 78 mln at an average share price of USD 13.
Xunlei's spokesperson said that the postponement is unlikely to have any major effect on the company.
Editor's Note: For more information on this topic, please see "Rumor: Xunlei to IPO on July 20," MD 7/09/11 issue.


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Real money (and real tax consequences) in the virtual world — Wacky Tax Wednesday
Sales of digital land and digital art generate real money — and real tax consequences.
You may have seen the headlines. From the Wall Street Journal (WSJ): “NFTs Are Spurring a Digital Land Grab — in Videogame Worlds.” From the New York Times (NYT): “JPG File Sells for $69 Million, as ‘NFT Mania’ Gathers Pace.” And like me, you may find yourself wondering how we got to this point.
As first, gamers bought virtual weapons, tools, and other enhancements to up their game. A dollar here, a dollar there, the kind of money I could understand a person spending on a hobby (though altogether it amounts to billions, according to the WSJ). People spend a lot of money on boats, books, cars, music, and all sorts of sports, after all.
Once players got involved in building worlds, the scale of purchases grew. As the WSJ reports (and I admit to having no firsthand experience in this area), “players can buy digital deeds for real estate,” and “rent out their land to other gamers, charge others for using it or even sell it — either within the game or on a third-party exchange.”
As in my corner of the real world, virtual real estate can be surprisingly spendy. Earlier this year, a group of people purchased a virtual kingdom, the Citadel of the Stars, for $1.6 million. Mirandus, the game in which the kingdom exists, is still “in development.”
“Land” in other virtual worlds is going for astronomical prices, too. In March, the virtual reality The Sandbox valued its digital properties at roughly $37 million after two pieces of virtual property sold for about $2.8 million.
Real money may not change hands in virtual worlds, but cryptocurrency does. And cryptocurrency can be converted to cash.
I guess it’s a new twist on the old game of land speculation. Back in the day, people lured west by promises of open space and fertile land didn’t know what they were getting into either. Some ended up losing everything thanks to summer droughts and winter temperatures cold enough to freeze cattle. At least virtual worlds don’t come with those hazards, though spending hour after hour in a chair may involve other risks.
Gamers and “land” developers aren’t the only people being swept up in the virtual craze. Last spring, Christie’s sold the first “purely digital artwork (NFT)” for $69,346,250, the highest price paid for something of its kind. In another first, Christie’s said bidders could pay with the cryptocurrency Ether. A non-fungible token (the NFT from the headline) issued by the digital marketplace MakersPlace guarantees the authenticity of the piece.
All this is extremely interesting. But I of course want to know where tax fits in with virtual transactions.
The tax implications of virtual currency
The Internal Revenue Service explained “how existing general tax principles apply to transactions using virtual currency” back in 2014. According to Notice 2014-21, “the sale or exchange of convertible virtual currency, or the use of convertible virtual currency to pay for goods or services in a real-world economy transaction, has tax consequences that may result in a tax liability.” However, this may not be true for other types of virtual currencies (e.g., non-convertible).
The IRS treats virtual currency as property. As such, “general tax principles applicable to property transactions apply to transactions using virtual currency.” Thus, taxpayers who receive virtual currency as income must report its fair market value.
Another IRS notice explains, “The sale or other exchange of virtual currencies, or the use of virtual currencies to pay for goods or services, or holding virtual currencies as an investment, generally has tax consequences that could result in tax liability.”
Creating cryptocurrency is like baking a cake
“Mining” virtual currency may constitute a trade or business, according to IRS Notice 2014-21. If it does, net earnings resulting from those activities “constitute self-employment income and are subject to the self-employment tax.” Basically, making money out of nothing makes real tax obligations.
A married couple is challenging this and seeking a refund of taxes paid on the cryptocurrency tokens they created. In a complaint file in a U.S. District Court on May 26, 2021, they assert “they did not receive the tokens at issue as compensation, but rather created them, like a baker who bakes a cake.” Thus, they believe, “they should not be taxed immediately on the creation of new property.”
The taxpayers say tax should apply only after they realize income from the virtual coins they mined, by selling or exchanging them. This contradicts the IRS guidance in Notice 2014-21. It will be interesting to see what the court has to say about it.
Sales tax and cryptocurrency
The Washington Department of Revenue is one of a handful of states that explains how sales tax applies when “bitcoin is tendered in an amount equal to the amount invoiced for goods or services and the related retail sales tax.” If a seller immediately converts a bitcoin payment into U.S. dollars, tax is computed on the converted amount as it is with more traditional types of transactions. Sellers must document the time of sale, the value of the converted amount, and the transaction.
Determining taxable value becomes more complicated if bitcoin isn’t immediately converted to U.S. dollars at the time of sale, and the value of the bitcoin is greater or less than the amount invoiced when it is converted. In this case, “the value may be determined via a reliable cryptocurrency pricing index,” and tax may be computed on this value.
The department invites taxpayers to contact the department for more guidance in the event “sellers accept payment in bitcoin that is greater or less than the amount invoiced for goods or service and the related retail sales tax.”
Washington state doesn’t accept bitcoin or other virtual currencies for tax payments. Ohio does — or rather it did for a short time. Less than a year after announcing taxpayers could pay taxes with bitcoin, Ohio suspended cryptocurrency tax payments, and it has yet to resume the program.
States do recognize a need to regulate, and tax, virtual transactions. On June 30, 2021, Delaware adopted an express reporting requirement for virtual currency, with an exemption for game-related digital content with minimal or no value. It requires virtual currency to be converted to U.S. dollars prior to reporting and remitting to the state. Texas recently passed a law relating to the control of virtual currency and the rights of purchasers. And a new Wyoming law specifies how commercial law applies to specific types of digital assets.
Some years back, a friend who sold 3D printers told me he’s seen customers tear up when a printer spits out their avatars. It may not be my thing, but I understand life in the virtual world has real significance. It has real tax consequences, too.
For more wacky tax tales, and other tax-related stories, check out the Avalara blog.
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Hong Kong — China’s factory activity slipped by a fraction on slightly softer demand, a monthly survey released Monday showed, AP reports.
The official purchasing managers’ index came in at 51.4 for April, easing from 51.5 in the previous month but still above the 50-point mark that separates expansion from contraction on the index’s 100-point scale.
The latest numbers come as trade tensions between China and the U.S. remain elevated, with potential implications for China’s sprawling export-oriented manufacturing sector.
The China Federation of Logistics & Purchasing’s survey found that factory output held steady but new orders and new export orders weakened for the month, indicating waning demand.
“Imports and exports continued to maintain growth, (but) the growth rate has slowed down,” said Zhao Qinghe, senior statistician at the National Bureau of Statistics, which released the data on its website.
Activity in the rest of China’s economy also held up fairly well, with further growth in the services sector, which is playing an increasingly important role as communist leaders in Beijing pivot the country away from its industrial roots. The group’s non-manufacturing purchasing managers’ index rose to 54.8 from 54.6 in March.


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THE first Suffolk Food and Drink show at Gifford’s Hall, Hartest, was so successful the organisers say it will be back next year.
Matthew Patten, of the organisers, Foodstuf Events, said: “Aldeburgh has its food festival in the east but we don’t have anything in the west, yet we have the food producers and the restaurants.
“The weather on Saturday was good and it was a lovely atmosphere with people sitting on the grass. A lot of the stalls sold out. It will be annual.”
Cookery demonstrations by top local restaurants, including The Crown at Bildeston and The Swan at Lavenham, were so popular one chef said the crowd was bigger than he had at Suffolk Show.
Mr Patten said: “They were all so extrovert and it really worked well so they’ve all said they want to come back.”
Visitors got wine tasting vouchers for the hall’s vineyards and could buy everything from pate to rare breed meat, cheese and cakes.


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Mitsui Takes Stake in German Composites Firm
As it continues to beef up its carbon fibers business, Japan’s Mitsui & Co. has taken an equity stake in Forward Engineering, a German company specializing in the design and engineering of lightweight automotive structures from carbon fiber and other composites. The size of the stake was not disclosed. Both parties have also formed an alliance to expand their services worldwide. Mitsui will promote and leverage Forward Engineering’s services and specialist knowledge throughout its global network in order to boost its presence in the automotive carbon fiber market.
Forward Engineering was spun out of Roding Automobile – a technology company and elite manufacturer of the carbon lightweight Roding Roadster sports car - in March this year. Mitsui said the market for parts made from carbon fiber and other lightweight materials is expected to expand rapidly as the automotive industry works to continue cutting emissions and energy consumption.
This latest deal follows several others within the last two years. In April 2015, the Tokyo-based company entered a cooperation agreement with the Innovative Composite Center of the Kanazawa Institute of Technology to develop new methods for making automotive parts and other products using carbon fiber composites.
In March this year, it acquired stakes in Hexagon Composites, a Norwegian manufacturer of carbon fiber-reinforced high-pressure cylinders, and Hankuk Carbon, a South Korean producer of carbon fiber composite products.


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We are launching the next activation in the Feeding the Future campaign series with The Economist, which aims to highlight the impact of food waste on the environment, and the economy: “Waste Not. Want Not”
As part of the “Waste Not. Want Not” program, an Economist-branded fruit and vegetable cart will take to the streets offering pedestrians a free smoothie made from produce that is destined for the trash – illustrating that ugly, wonky or bruised fruit and vegetables that are rejected by supermarkets can still be eaten and taste great. We have partnered with Hungry Harvest, a startup that’s rescued over four million pounds of produce from going to waste, who will provide the ugly produce. Consumers who participate in the program will have the opportunity to subscribe to The Economist at an introductory rate of 12 weeks for $12 and as a special gift can opt to have the publication plant a tree on their behalf.
Consumers will gain an understanding of how “ugly” ingredients are, in fact, perfectly edible, healthy and delicious, but are often thrown out before even arriving at the market. The activation will shine a light on the fact that each year 30-50% of food produced globally goes to waste, $750 billion worth of food is thrown away, and in America, 35 million tons of food are discarded. Reducing this by just 15% could feed more than 25 million people each year.
“The Economist reader is someone who is globally curious and cares about the world beyond their backyard,” said Yanna Wilson-Fischer, Director, North America Marketing & Global Experiential, The Economist. “The Feeding the Future campaign brings our mind-stretching journalism to life in a way that encourages potential readers to step out of their comfort zones and reconsider what they know about The Economist.”
Sense partnered with The Economist to develop the award-winning Feeding the Future campaign framework and execute these provocative programs. These programs were designed to educate the public on facts surrounding their footprint on the planet, while simultaneously growing The Economist’s brand awareness and audience.
“Sense is all about bringing brands ‘to life’ through innovative experiences and we are pleased to work with The Economist to develop and launch these engaging activations,” said Sarah Priestman, President, Sense New York. “Building on our successful campaigns in the UK, we are leveraging the campaign framework to bring live experiences that present The Economist brand to the US market in new and unexpected ways.”
Launched in the U.K. in 2014, The Economist’s experiential activities have generated more than 30,000 new subscriptions worldwide to date. In addition, its marketing program garnered a 2017 #DoDifferent award for Long Term Strategy from the Marketing Agencies Association (MAA) and the MPA Imagination Award for Audience Development, as well as numerous other awards.


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It will open seven shop-in-shops within the de Bijenkorf retail brand. It is a first for John Lewis, which currently has no presence in Europe outside of the UK but has been ramping up its presence in other international markets.
The first three shop-in-shop departments will open in the spring of 2016 within de Bijenkorf’s flagship stores in Amsterdam, Rotterdam and The Hague.
This will be followed by additional openings in Eindhoven and Utrecht by the end of next year and in Amstelveen and Maastricht in 2017.
The John Lewis departments will be sized between 300 sq ft and 500 sq ft with the retailer’s in-house store design team managing the look and feel of the retail space.
The shop-in-shop areas will offer John Lewis branded home and lifestyle products across bed, bath, living and gifting assortments.
John Lewis said it wanted to increase awareness and engagement with international customers and expand its existing international presence.
Since 2014, John Lewis has opened 14 shop-in-shops across Singapore, the Philippines and South Korea.
"We’re delighted to be debuting our first European shop-in-shop and de Bijenkorf is the perfect partner to enable us to bring John Lewis to a new customer base and country," said MD Andy Street.
"Our existing shop-in-shops have been well received and are trading well... We hope to announce more international collaborations in 2016."


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Microsoft CEO Steve Ballmer delivered a keynote address on the eve of the Consumer Electronics Show in Las Vegas, focusing on his company’s Xbox 360 entertainment initiatives, the new Windows Phone 7 mobile platform, and what we can expect to see from future versions of Windows PCs.
Xbox 360 Kinect
Microsoft’s “Kinect” motion controller for the Xbox 360 game console launched before the holidays and has so far appeared to be a big win for the company. Ballmer noted that 8 million of the $150 Kinect peripherals were sold in the first 60 days of its release.
Microsoft has been consistently highlighting its “You are the controller” slogan to differentiate the Kinect system (which uses cameras and microphones to translate body movements into game commands) from competitors such as the Nintendo Wii and Sony’s PlayStation Move peripheral—both require the use of handheld controllers.
Aside from Kinect’s uses when gaming, Microsoft has expanded its functionality into the Xbox 360’s entertainment features, specifically the console’s built-in Zune audio and video playback capabilities.
Instead of using an Xbox 360 controller or optional remote control with Zune, Kinect owners can play videos and music via a series of simple voice controls and motion gestures. For instance, saying, “Xbox, play Elvis Presley” begins playing any Elvis tracks found on the system. Users can then hold one hand up in front of the TV and swipe it back and forth to change tracks. (More on Time.com: Top 10 Failed Gaming Consoles)
While the motion control works well in Microsoft-developed media functions like the Zune software, the company is working to integrate it with third-party services as well. Ballmer announced that Kinect control would be coming to the Xbox 360 versions of both Netflix and Hulu Plus this spring.
Microsoft also demonstrated how Kinect can be used to interact remotely with friends. For instance, four people could virtually hang out together chatting while their body motions and facial expressions were mimicked via their on-screen avatars. The Kinect camera even recognizes when someone stands up to cheer about something. It’s full body recognition, translated into a cartoonish avatars that hang out together on screen even though their respective real-life counterparts may be miles away from each other.
The feature is called Avatar Kinect and will be available this spring to Xbox Live Gold subscribers. (More info on the new Kinect features found here.)
Windows Phone 7
Microsoft gave a brief demonstration of its new Windows Phone 7 mobile platform during the keynote as well. There wasn’t much shown that hasn’t been shown before, except for copy and paste functionality, which is coming in an update due out in the coming months. Microsoft also promised that the update would provide faster switching between programs and faster load times for games. Furthermore, Windows Phone 7 handsets will be available on Sprint and Verizon within the first half of the year. (More on Time.com: 50 Windows Phone 7 Apps to Get You Started)
Microsoft has announced that the next version of Windows (not due out until next year) will support full system-on-a-chip (SoC) features along with compatibility with mobile processors based on ARM technology.
System on a Chip architecture will allow Windows PCs to shrink down to a relatively tiny size and work in several form factors. One engineer held up a prototype SoC design about the size of a cracker and said, “This is the processor, the memory, and the motherboard. All you need to do is add a battery and a screen.” (More about Microsoft’s SoC plans here.)
Finally, Microsoft showed off a new version of its “Surface” computer platform. Surface is an all-touch system generally meant for retail and industrial installations like bars, banks, and stores.
Current versions of Surface computers are relatively large and cumbersome since they rely on multiple cameras stored inside the hardware to drive the multi-touch interface. Microsoft’s next version of Surface, however, makes use of a technology the company developed called “PixelSense” which, in essence, turns each pixel of the touchscreen display into a sensor.
As such, cameras are no longer necessary and the Surface machines have been able to shrink down to thicknesses of as little as four inches. The new Surface machines will also be coated in rugged Gorilla Glass, which Microsoft says will be able to withstand a beer bottle being dropped from up to 18 inches. In other words, look for the tables at your local pub to eventually turn into to giant touchscreen computers at some point. (More on Surface here).
More on Time.com: