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RAPAC earns GRS certification for second year in a row
RAPAC's EcoSix recycled resin products have received the Global Recycle Standard (GRS) certification for the second year in a row. RAPAC says that it has made ongoing efforts to promote the circular economy, reduce waste, and increase sustainability practices across its operations.
The GRS is an international, voluntary, full-product standard that sets requirements for third-party certification of recycled content, chain of custody, social and environmental practices, and chemical restrictions.
"This achievement is a testament to our commitment to sustainable practices and our ongoing efforts to make a positive impact on the environment," said Stephen Doorley, Plant Manager at RAPAC. "We believe that recycling plays a crucial role in creating a more circular economy and are determined to lead the way in promoting sustainable solutions."
RAPAC is a recycler of expanded polystyrene (EPS) and services companies worldwide with a diverse range of products. The company offers applications of polystyrene including both EPS and PS products, as well as proprietary, custom resins for a multitude of industries and applications.
Through GRS's third-party verification process, RAPAC was able to verify the recycled content of its products, as well as responsible social, environmental, and chemical practices in its production. The certification defines requirements to ensure accurate content claims, good working conditions, and minimal harmful environmental and chemical impacts for companies in more than 50 countries.


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AKRON, OHIO — Short-term supply tightening and a booming construction market allowed PVC makers to raise prices a total of 1 cent per pound in November and December.
The success of that move — and tightening in the North American market for spot material — is giving producers hope that a current 2 cent-per-pound increase also will be successful.
``We've been running really hard,'' a spokesman for PVC maker Occidental Chemical Corp. of Dallas said. ``And it helped that export values were on par with domestic values in November and December.''
Profitability remains poor, however. Borden Chemicals & Plastics LP, the fourth-largest North American producer, is considering selling its assets, while No. 6 producer Condea Vista Corp. recently swapped its 450 million-pound Oklahoma City PVC plant to Minneapolis pipe firm Eagle Pacific Industries Inc. for a share in the company.
But the biggest consolidation has been at the top, where OxyChem and Geon Co. of Avon Lake, Ohio, are merging their PVC, vinyl chloride monomer and chlorine businesses to create Oxy Vinyls LP.
Several buyers contacted recently said PVC supplies have tightened since late last year. New construction fueled the situation, as housing starts in December 1998 were 12 percent higher than they were in the same month in 1997, according to the Census Bureau.
The bureau's figures also show 1998's total of 1.62 million single-family and apartment unit starts was the highest total since 1987.
That was good demand news for pipe and siding makers, who gobble up more than half of all PVC production. But despite the market growth, resin overcapacity and decreased Asian demand kept prices down throughout 1998, when prices dropped an average of 8 cents per pound.
``Volume is unbelievable, but pipe makers have to work harder to make any money,'' a New Jersey PVC buyer said. ``Pipe makers need the [2 cent] increase to pass it on to their customers.''
Although some pipe makers at the low end of the pricing spectrum reported 2 cent increases in the November-December period, most PVC buyers reported a 1 cent jump.
A decline in spot market also has added some discipline to the market, industry sources said.
A Missouri-based PVC buyer said processors still have the advantage, but ongoing industry mergers like the Oxy/Geon deal are making pricing negotiations more competitive.
PVC supply has been further tightened by maintenance turnarounds, which have limited supplies of VCM, PVC's primary feedstock, according to a PVC executive who wished to remain unidentified.


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Is Walmart Going Chemical-Free?
It sure seems that way. The world’s largest retailer recently asked suppliers to remove eight major chemicals from their products. While this should come as no surprise – in 2013, Walmart announced that it would be asking suppliers to reduce certain substances from their personal care, beauty and cleaning products – it’s certainly a big step on the retailer’s part. Walmart came up with a definitive list of veto-d chemicals with help from the Environmental Defense Fund and aims to get suppliers to find alternatives for their products.
“The chemicals on the list include certain properties that can affect human health or the environment,” Walmart explained in their statement last week. While the list currently only consists of eight substances, these are considered high-priority and are some of the most common chemicals found in household goods. Among them, are formaldehyde, a carcinogen found in cosmetics and triclosan, a chemical found in soaps and toothpaste that is said to alter hormone regulation. This new policy has already affected about 90,000 products made by 700 different manufacturers sold in Walmart and Sam’s Club stores across the US.
It’s undeniable that this push for sustainability is a direct reflection of consumers’ gradual shift towards chemical-free products. Today’s shoppers demand transparency from the brands and retailers they frequent and want to make informed decisions regarding the products they buy, right down to the packaging. Even investors are taking a closer look at the health measures taken by companies they back, a move that not only reduces “reputational and liability risk” but allows them to “reap financial benefits from growing consumer concern about chemical risks,” according to Richard Liroff, who runs the Investor Environmental Health Network.
One thing’s for sure, we’re excited to see what sort of ripple effect this move will have on the retail industry.
Check out these amazing Hubba brands that are green, clean and chemical-free by clicking below!


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Customers, resellers bite Apple back
Three US legal firms filed a nationwide class action lawsuit against Apple yesterday, accusing it of scamming customers with shorter warranty periods and passing old kit off as new.
The suit, filed in San Francisco on Thursday (Feb 17), represents consumers and resellers in two separate subclasses.
Read the complete story . (The Register)


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Organizers for the Taste of the Town on Saturday at Hopkinsville Brewing Co. have announced the food vendors that are confirmed for the event.
They include Big Papa’s Hickory Smoked BBQ, Janae’s Italian Ice, Miss Mollies Eats and Sweets, On the Flyy, Her Sweet Fix, G’s BBQ, It’z a Philly Thing, Zilla’s Pit BBQ, Honey Bee’s Bakery, Meals by Booch and Vansauwa’s Tacos & Vegan Eats.
Taste of the Town features Black entrepreneurs who run mobile food businesses in the area. They will serve from 11 a.m. until 3 p.m. The event, now in its second year, is an Eighth of August emancipation celebration.


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In a challenging landscape for electric vehicle manufacturers, Tesla Inc. is experiencing a significant drop in market share in China, the world’s largest automotive market. The company’s struggles in China are part of a broader global slowdown in EV demand, leading to Tesla’s largest quarterly sales miss to date.
Tesla’s market share in China has decreased from 10.5% in the first quarter of last year to approximately 6.7% for the quarter ended in December. This decline can be attributed to intense competition from local manufacturers and dampened consumer sentiment in the region. Despite Elon Musk’s ambitious vision for the company’s growth in China, the reality on the ground paints a more challenging picture.
Macroeconomic factors such as supply chain disruptions and regulatory changes have added complexity to the Tesla’s operations in China.
The Chinese automotive market, known for its rapid growth and potential, has become increasingly competitive for Tesla. Local players are expanding their EV offerings and gaining traction among Chinese consumers. Additionally, macroeconomic factors such as supply chain disruptions and regulatory changes have added complexity to the company’s operations in China.
As Tesla grapples with these challenges, analysts are closely monitoring the company’s performance in China as a barometer for its global standing. The company’s ability to navigate the evolving landscape in China will be crucial in determining its long-term success in the world’s largest EV market.
Despite these headwinds, Tesla remains committed to its mission of accelerating the world’s transition to sustainable energy. The company continues to invest in research and development, innovation, and expanding
its product lineup to meet the evolving needs of consumers worldwide.
Looking ahead, Tesla’s strategy in China and other key markets will be closely watched by industry observers and investors alike. As the EV landscape continues to evolve, adaptability and strategic decision-making will be essential for the company to maintain its competitive edge and regain lost market share in China and beyond.
Tesla’s shrinking market share in China is a reflection of broader challenges facing the EV industry. How the company responds to these challenges will determine its future trajectory in one of the most important markets for electric vehicles. As the company navigates this turbulent period, all eyes are on Elon Musk and his team to steer the company towards sustainable growth and success in the global automotive market.


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Follow us on
Yoshiki Okamoto has said that his future lies completely within the realm of mobile game development.
Free-to-play games are no longer listed as being ‘Free’ on the Apple App Store.
Yogscast says comparing it to the games media is a ‘category error’.
It turns out that Sex Pistols star John 'Rotten’ Lydon is quite the gamer.
Video game advertisements on Facebook are less successful than dating ads, the firm has revealed.
Publisher EA has said it will be right at the forefront of virtual reality if the technology takes off – but a big hurdle remains before that can happen.
Western FPS king Call of Duty: Advanced Warfare has beaten a firm Japanese favourite to the top of the Japanese weekly charts.
Players of Blizzard’s all-conquering MMO World of Warcraft are being handed a five day extension to their subscriptions to make up for the troubled launch of the Warlords of Draenor ...
PC gamers complaining about the lack of a specific function in the PC version of Far Cry 4 have been revealed to be pirates.
King.com spent $55m on TV advertising in the US this year, more than PlayStation and Xbox.
Gamer Network boss Rupert Loman took to London Games Conference to reveal some insight into this year’s EGX consumer show.
A third patch that Ubisoft hopes will address some of the technical criticism aimed at Assassin’s Creed: Unity is on the way.
The number of video games websites will continue to dwindle, predicts IGN owner Ziff Davis.
Buzzfeed has delivered its advice on how marketers can succeed in a social world at London Games Conference this morning.
PlayStation’s UK boss Fergal Gara has said that the next stage in PS4’s development should see the hardware broaden its audience to attract amore casual crowd.
If you’re missing out on today’s London Games Conference you can still watch the event live online via Twitch.
The president and CEO of Sony Computer Entertainment America has suggested that PS4 has sold around double the number of Xbox One units shifted worldwide.
The rate at which Xbox One is narrowing its sales gap behind PS4 is accelerating.
There’s yet more technical bad news afoot for Sony’s PS4.
A former minister for the French Socialist Party has criticised the depiction of key figures in the French Revolution in Ubisoft’s Assassin’s Creed: Unity.
Indie studio Robotoki’s upcoming title Human Element has decided to ditch free-to-play in favour of becoming a premium product.
A patch designed to help alleviate the ongoing online problems faced by Halo: The Master Chief Collection will not arrive tomorrow as planned.
The decision to strip the offline mode from upcoming space shooter Elite: Dangerous has gone down like a lead balloon.
Now games can be blamed for ruining your cost of living as well as your children and moral fibre.
Ubisoft is going to release some DLC for the Wii U version of Watch Dogs.


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Automotive Events Group will hold its Japanese Car Day on Sunday April 24th with money from display cars being collected by Wheels for Hope and community group Rotary, the event welcomes any and all kinds of Japanese cars from classics, modern, custom and competition.
Entry for display cars is $10 and the event organisers say they have over 500 spots available for display vehicles.
Whilst car clubs will probably make up the majority of the displays, individuals are welcome to bring their pride and joys down by simply pre-booking a spot.
Coffee vans, sausage sizzles and trade stalls will all be running at the event.
Japanese Car Day runs from 10am til Midday Sunday 24th April at Capark 8, Camfield Drive, Burswood Park.
For more details check out the Official Facebook Page
Have you got an event coming up motoring related, motorsport race, event, etc? Hit us up via e-mail and get your event on our site!


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The past few weeks have been difficult for the Canadian dairy industry. In addition to speculation surrounding promised TPP compensation for farmers, the Government recently voted “no” to stopping a foreign protein substitute that’s appearing in dairy products in place of real Canadian milk.
On May 3rd the Trudeau Liberals, including the MP for Pontiac, voted down an opposition motion asking the government to support Canadian dairy by enforcing the rules on what goes into dairy products sold here.
Diafiltered milk is a cheap protein substitute. Unlike other dairy items, it enters into Canada tariff-free from the United States because it is considered to be an “ingredient”, and not true milk. Once here, the diafiltered substitute can be processed and sold for use in cheese and other dairy products.
Canada has strict standards for dairy – cheese must contain a certain percentage of real milk. Diafiltered milk is not real milk by any means, but it is being used as if it were – and this is being allowed by the Government.
This failure to enforce the rules negatively affects the Canadian economy, particularly in rural areas, as the diafiltered milk substitute finds its way into dairy products in place of real Canadian milk from our farmers.
The motion to address this deficiency was put forth by the NDP, seeking to coax the Liberals into supporting the dairy industry by “immediately enforcing the compositional standards for cheese for all Canadian processors.” The wording of the motion was even negotiable, in order to see it pass.
It’s a rare feat to have the Conservative, NDP, Bloc and Green parties voting on the same page, but all opposition parties unanimously voted to support the Canadian dairy industry.
All Liberal MPs voted against taking action to safeguard an industry that is important to many regions, including this one.
It’s extremely disappointing that Pontiac’s Liberal MP stood up to vote for his party, instead of standing up to vote for our farmers.
Sources on voting results:
Read up on diafiltered milks here:


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(AP) — This Oct. 13, 2011 file photo shows a citrus turkey surrounded by side dishes in Concord. N.H. No need for a salt shaker on the Thanksgiving table: Unless you really cooked from scratch, there's lots of sodium already hidden in all the turkey and trimmings. (AP Photo/Matthew Mead, FIle) Read more at Where's The Salt? Hidden In Your Thanksgiving Menu McDonald's, Target Drop Egg Supplier WTO Rules Against U.
GENEVA (AP) — The world's top trade body ruled against U.S. "country of origin" labels on meat products Friday in a trade victory for Canada and Mexico that could lower prices on their cattle and hog exports. In late 2009, the Geneva-based World Trade Organization opened an investigation on U.
NEW ORLEANS (AP) — The sauteed sweet potatoes with oven-roasted bell peppers, sauteed andouille, sauteed broccoli, sweet potato pancakes and orange wedges all got thumbs up from 40 third- through eighth-grade students in New Orleans — and all were Louisiana products. The pancakes were very popular — lots of students wanted seconds — but younger students tended to leave most of the broccoli on their plates, said the LSU AgCenter's Pam Hodson, who arranged the taste test as the first in what she hopes to make a statewide series.
MINNEAPOLIS (AP) — McDonald's and Target dropped one of the nation's largest egg suppliers after an animal rights group released an undercover video of the egg producer's farms in three states. McDonald's Corp. said Friday it had dropped Sparboe Farms as a supplier after a video by the group Mercy for Animals showed cases of animal cruelty at five facilities in Iowa, Minnesota and Colorado.
LYSANDER, N.Y. (AP) — Anheuser-Busch says it's expanding canning capacity at its Syracuse-area plant with the help of a $900,000 state economic development grant. The company says it will spend more than $7 million on the expansion at its Lysander facility, increasing the brewery's production by 30 percent.
ST. LOUIS (AP) — Tyson Foods' net income for the fourth quarter was less than half of what it was last year, the meat producer said Monday, with higher grain costs offsetting better prices and revenue, particularly in its chicken business. While there were operating income declines of $3 million and $12 million for beef and pork, respectively, that metric tumbled $223 million for chicken, meaning that an operating income of $141 million last year in chicken turned into an operating loss of $82 million in the final quarter of the year.
(AP) — In this photo taken Friday, Nov. 11, 2011, 10-year-old Roman Ramirez carries a banana tree branch from the tropical garden in Woodlake, Calif. Ramirez is one of the children who participate in an agricultural program that has turned 14 acres in the small farmworker community into a series of lush fruit and vegetable gardens.
TOKYO (AP) — Japan has banned shipments of rice grown near a tsunami-hit nuclear power plant for the first time after detecting radiation exceeding the legal limit. Chief Cabinet Secretary Osamu Fujimura said Thursday that a sample of rice from a farm contained 630 becquerels of cesium per kilogram.
J.M. Smucker Co.'s fiscal second-quarter net income fell 15 percent as the food maker struggled with higher costs for ingredients. The company's profit missed expectations. It's an ongoing battle for most food and beverage companies as they face a tricky balance between covering costs and not alienating consumers with higher prices.
SANTA FE SPRINGS, Calif. (AP) — A Southern California Asian food importer has agreed to pay $400,000 in back wages and interest to 71 women who were rejected for sales jobs. The U.S. Labor Department says in a news release Thursday that Tokyo-based Nishimoto Trading Co. has agreed to settle the hiring discrimination case.
LITTLE ROCK, Arkansas (AP) — Rice growers who lost sales after genetically modified rice seed mistakenly entered the U.S. market five years ago have until Monday to sign on to a $750 million settlement proposed by the German company blamed for the problem. More than 10,000 farmers in Arkansas, Louisiana, Mississippi, Missouri and Texas sued the German conglomerate Bayer CropScience after the modified strain of long-grain rice got loose in 2006.
PITTSBURGH (AP) — H.J. Heinz Co., the world's largest ketchup maker, said Friday its fiscal second-quarter net income fell almost 6 percent but adjusted results narrowly beat expectations as emerging markets remained strong and higher prices offset a volume decline. Food makers have been raising prices to offset higher ingredient costs.
(AP) — In this Tuesday, Oct. 18, 2011 photo, owner, founder and CEO Sarma Melngailis holds a plate featuring her restaurant's most popular dish, a local heirloom tomato lasagna featuring basil pistachio pesto, sun-dried tomato marinara, macadamia pumpkin seed ricotta and zucchini, in front of Pure Food and Wine in New York.
IOWA CITY, Iowa (AP) — Dozens of people sickened last year after eating salmonella-tainted eggs will receive compensation, including six-figure checks for two children, in the first wave of legal settlements with the Iowa egg producer blamed in the outbreak, attorneys in the case have told The Associated Press.
ALBUQUERQUE, N.M. (AP) — New Mexico water regulators on Wednesday adopted a settlement that puts to rest a dispute over the regulation of millions of tons of waste produced each year by the state's $2.6 billion dairy industry. The Water Quality Control Commission voted unanimously during a hearing in Santa Fe in favor of the settlement brokered by state attorneys, dairy farmers and environmentalists.
FRESNO, Calif. (AP) — State officials on Wednesday upheld a recall and quarantine of raw milk products from a California dairy after three children were sent to hospitals with E.coli poisoning in the nation's latest outbreak related to the unpasteurized product. The ruling came at a hearing by the California Department of Food and Agriculture after the owner of Organic Pastures Dairy Co.
PORTLAND, Ore. (AP) — PepsiCo Inc. will roll out its new mid-calorie soda "Pepsi Next" nationally early next spring. The company said in June that it would be testing the lower-sugar and lower-calorie soda in Iowa and Wisconsin. PepsiCo said Wednesday that testing results exceeded its expectations and it plans to begin selling the product nationally at the beginning of its second fiscal quarter.
ORRVILLE, Ohio (AP) — J.M. Smucker Co. is recalling thousands of 16-ounce jars of its Smucker's Natural Peanut Butter Chunky because of possible salmonella contamination. The Ohio-based company says the jars covered in the recall would have been purchased in the last week or so. They have "Best if Used By" dates of Aug.
(AP) — In this June 6, 2010 file photo, Austin "Jack" DeCoster, right, appears in a Lewiston, Maine, court on animal cruelty charges related to Turner egg farm in Maine. DeCoster also owns Wright County Egg, an Iowa egg farm linked to a massive salmonella recall in 2010. Dozens of people sickened last year after eating salmonella-tainted eggs from Wright County Egg will receive compensation, including six-figure checks for two children, under the first wave of legal settlements with the disgraced egg magnate blamed for the outbreak, The Associated Press has learned.
PITTSBURGH (AP) — The Pittsburgh-based H.J. Heinz Co. is promising a free bottle of its new balsamic vinegar ketchup to anybody who tried to buy it during a failed product launch on the Facebook social networking website. Monday was the first time Heinz sold a U.S. product through its Facebook page.


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Parents will spend nearly $700 to get one child ready for school this year, according to the National Retail Federation’s (NRF) annual back to school survey — and even more for a student going to college.
Here are the top three reasons why now is a good time to start selling on eBay, along with easy steps to get started today.
Reason #1: It’s an opportunity with free advertising
In 2017, eBay is going all out — email marketing, on-site ads, and more — to drive parents and students alike to your great deals. And with nearly 80% of parents starting to shop just 3+ weeks before school starts, now’s the time to make the most out of the huge influx of seasonal buyers eBay is sending your way.
Reason #2: eBay’s robust back to school page is attracting new buyers
A new, easy-to-navigate page for back to school shoppers means that popular categories like electronics, sporting goods, fashion apparel, office supplies, shoes and of course, home and kitchen, featuring dorm essentials, are front and center for customers. Visit eBay’s back-to-school page to find the profiled categories.
Reason #3: Back-to-school means more than just school supplies
While “back-to-school” may make you automatically think of new pens, pencils and notebooks, school supplies aren’t the only high-performing categories this season. Check out these NRF survey results:
- 45% of back-to-school shoppers will buy a laptop computer; more than a third will purchase a tablet or calculator; 18% will purchase a smartphone.
- For back-to-college shoppers, the survey showed that parents will spend $51.4B — with the biggest areas of spend occurring within electronics, apparel and even food.
- Food will be a bigger area of spend due to fewer students living at home this year than the past. Parents are stocking up on food and beverages to fuel those first few days of college.
Bonus reason: It’s easy to get started with ChannelAdvisor!
For current ChannelAdvisor customers registered to sell on eBay, getting your inventory listed in these hot-selling categories on eBay is easy. Take a look:
For ChannelAdvisor customers (or prospective customers) who aren’t currently registered to sell on eBay, apply to sell on eBay today.


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43 Results for "Monitor"
25 Mar in StudioFocal has announced the Alpha Evo series studio monitors. The Alpha 50 Evo and Alpha 65 Evo feature new materials, more inputs and a refreshed design.
15 Feb in StudioKali Audio has introduced the IN-5 nearfield monitors. With coaxial midrange and HF drivers, the IN-5 features the same concept as the IN-8 in a more compact package.
19 Jun 2020 in StudioMixing on headphones can be frustrating. Realphones by dSONIQ is a new plug-in designed to improve the mixing accuracy on headphones by simulating various control rooms and speakers.
05 Jun 2020 in StudioThe 6301DT features all the bells and whistles the series is known for, such as D-class amplifier and a new driver unit with auto stand-by functionality. And Dante!
21 Jan 2020 in StudioManufacturer Danley Sound labs introduced a studio monitor and subwoofer, expanding its product line-up to include studio equpment in addition to PA systems.
15 Jan 2020 in StudioOutput has announced that it has teamed up with Barefoot to introduce studio monitor speakers later this year, and they're drop-dead gorgeous. Let's hope they sound as good as they look!
17 Jan 2019 in StudioAt around USD 4000 per piece, the A23-M is geared towards the upper end of the market and audio professionals looking for a premium solution.
14 Jan 2019 in StudioIK Multimedia get the tease machine working on the run up to NAMM 2019 with what appears to be the AXE I/O audio interface with some "Z-TONE" guitar tone built in.
02 Oct 2017 in StudioAntelope Audio introduced the Discrete 4 and Discrete 8 interfaces, targeting the $1000 price segment that's been of interest to manufacturers this year. As expected, they carry traditional Antelope features...
08 Apr 2017 in StudioBerlin-based HEDD have introduced the Type 20, a compact 3-way midfield monitor for owners of smaller studios. Can this speaker successfully bridge the home and pro markets?


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GOtv has unveiled ‘Dunga Milli’, a new promotion that will see it give away Sh1millionn weekly and raft of prizes worth Sh100million for the next 8 weeks.
‘Dunga Milli’ will see Kenyans rewarded for going digital while enjoying the instant benefits of increased choice in local and international content with advanced picture and sound quality.
In addition, Kenyans can now purchase a GOtv decoder at a reduced price of only Sh1,399 from the original price of ,Sh1,799 plus a two months GOtv Plus subscription.
that aims to increase GOtv penetration as more and more Kenyans move to embrace digital TV.
GOtv, Kenya’s says it is promising to change the lives of ordinary Kenyans by turning them into instant millionaires through this exciting campaign launched in Nairobi on Friday evening.
“For every purchase and activation of a GOtv decoder, consumers will get an automatic entry into the ‘Dunga Milli’ draw where one lucky Kenyan will walk away with Sh1 million every week for the next 8 weeks” GOtv General Manager, Mr Felix Kyengo said.
There will also be daily prizes of Sh15,000, airtime plus a chance to win annual GOtv subscriptions plus airtime.
“As part of our commitment to assist with the digital migration in Kenya and to allow consumers access to digital television and great entertainment at a price everyone can afford we have introduced this special affordable decoder package at the astonishing price of only Sh 1,399 for a GOtv decoder and 2 months GOtv Plus subscription” said Kyengo.
He said with this kind of reduced pricing, GOtv has perfectly positioned itself as a leader in the digital arena and thus, will play a pivotal role towards accelerating Kenya’s digital migration process.
Kyengo said the digital terrestrial television platform is
aimed at enabling Kenya achieve speedy migration to the digital age. and that GOtv has been actively involved in raising awareness about the digital migration.
GOtv now covers over 30 cities in its pursuit to enable the government achieve a speedy migration from analogue to digital broadcasting, and will it says it will continue to roll out to new cities in the future.


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Here comes another new idea to replace the traditional light bulb
As long as I’ve been covering energy technologies, there have been ambitious entrepreneurs looking to offer better replacements for the traditional incandescent light bulb (which is being phased out in the U.S.). Among the problems that face lighting startups: The bulb is too expensive, manufacturing is really hard for a startup and regulatory hurdles take too long, among other things.
Regardless of the hurdles, though, here comes another startup with major ambition. On Monday a startup calledFinally Light Bulb Company launched, led by entrepreneur John Goscha, who previously founded a company that makes dry erase whiteboard paint. Finally makes a replacement for an incadescent (A type) light bulb that is both energy efficient and relatively inexpensive compared to some of the LEDs out there.
The bulb uses induction technology and, as the New York Times explains it, the engineers at the company were able to shrink down the induction device to a three-inch antenna wrapped in a copper wire. The result is a magnetic field inside a bulb, which enables mercury to make ultraviolet light that interacts with a phosphor coating on the bulb to produce visible light. They’re calling the technology “Acandescence,” and the startup, which is based outside of Boston, has raised about $19 million in funding.
The big upside of the Finally bulb is that the company says its quality of light is similar to an incandescent — a warm solid glow — but without the crazy-high LED prices. Many consumers hate CFLs, because the light can be such a low quality, and until very recently LEDs have been in the two-digit dollar prices. The Finally bulb is 75 percent more efficient than an incandescent and lasts 15 times longer.
The company says it intends for the first 60-watt replacement Finally bulb to be available in stores in July of this year for $7.99 (you can pre-order it now for $9.99). The 75-watt and the 100-watt will be available in the fall, says the company. They’re manufacturing it in India, and it “has almost all of its regulatory approvals,” notes the New York Times.
The big issue I see with the Finally bulb is that $8 doesn’t seem cheap enough to replace the incandescent. Big LED companies like Cree havelaunched sub-$10 LEDs and they have deep pockets to promote and distribute their bulbs. LED bulbs are just getting cheaper and cheaper, and seem as if they will inevitably be the dominant form of lighting in the future. A startup with novel tech could make money off of the slow-moving LED price drop in the short term, but LEDs will eventually get so good and cheap that it will be hard to compete with them.
Commercial Lighting Tampa FL, 813-935-4448 / 813-514-1264 / 813-514-1265 / 813-932-1086 / 813-932-1547 / 813-935-8235
CommercialLightingTampa.com, 8139354448 / 8135141264 / 8135141265 / 8139321086 / 8139321547 / 8139358235
Call Us Today!


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A competition was launched this week designed to highlight Strathearn and beyond as a place to enjoy exhilarating activities amid breathtaking scenery.
The ‘Invigorating Breadalbane’ competition, run by the Breadalbane Tourism Cooperative (BTC), includes prizes such as accommodation at Comrie Croft, bike hire from Comrie Croft Bikes, Canadian canoe hire from Cycle Scotland, an Aloft! tree top adventure at Crief Hydro’s Action Glen, lunch at the Tower Gastro Pub in Crieff, a meal at the Bridge of Lochay Hotel in Killin and Ring of Breadalbane Explorer bus day tickets.
BTC has also outlined ‘10 ideas for an active break in Invigorating Breadalbane’ to showcase the many activities available.
These include everything from walking and cycling, to golf and fishing.
All the Invigorating Breadalbane ideas, offers and competition are on www.breadalbane.org.
Entry to the competition is via a simple online form and is open until March 3.
BTC is planning a food and drink ‘expo’ on March 24 at Auchingarrich Wildlife Centre, near Comrie.
The event has been billed as a chance to allow both businesses and the general public to discover the wealth of quality food and drink available in the area, and encourage greater use of local suppliers, retailers and eateries.
Until now, the Breadalbane Tourism Co-operative has worked on a sponsorship basis, raising funds for individual initiatives, such as the Ring of Breadalbane Explorer bus and the Rings of Breadalbane walking and cycling trails.
However, now that BTC has widened its activities, it is asking local businesses to support its work with an annual subscription.
Details are available on the BTC website.


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Two man-made tragedies have shaken Bangladesh recently: riots over Islamist demands for blasphemy laws and the garment factory collapse. Bangladesh's response to both will show how well it can meet citizens' needs. US retailers must also take responsibility for factory conditions.
At least eight people were killed and 40 more injured in a suicide bombing this morning in northwest Pakistan. The country has seen scores killed in pre-election violence.


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Health and personal care brand, Vize have roped in Indian cricket team captain Virat Kohli as the brand ambassador.
“As sportspersons, we athletes are recipients of much love and hero-worship. But in these difficult times, it is the Covid warriors who are true heroes, putting their lives on the line. Vize is for the heroes who keep India unbeaten,” Virat Kohli said.
“I am pleased to be associated with Vize hygiene products because not only they are world-class products with manufacturing that meets stringent guidelines, but also have helped me commit to social causes,” he added.
“We have chosen Virat Kohli as the brand ambassador to reflect the values of preparedness, discipline, rigour, and world-class standards,” said Akshat Jain, founder, Vize.
“I am pleased to be associated with Vize hygiene products,” Virat Kohli said.


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Design will launch the Blackmagic
Pocket Cinema Camera6K, a new handheld digital film camera with a full Super 35 size 6K HDR image sensor, 13 stops of dynamic range, an EF lens mount and dual native ISO up to 25,600 for incredible low light performance at IBC this year.
They tested the machines using Blackmagic
Disk Speed Test, a utility created by Blackmagic
(the company, not the occult) in order for creators to understand whether their storage was fast enough to work with the footage coming out of Blackmagic
's various cameras.
8:30 -- 9:00 a.m.- Networking coffee in the Central Lobby of the Las Vegas Convention Center, hosted by Blackmagic
Widely regarded as one of the world's leading innovators and manufacturers of creative video technology, Blackmagic
Design creates high quality video editing products, digital film cameras, color correctors, video converters, video monitoring, routers, live production switchers, disk recorders, waveform monitors and real time film scanners for the feature film, post production and television broadcast industries.
Design has deployed the Blackmagic
eGPU, a high performance graphics processor for pro creative software such as DaVinci Resolve, 3D games and VR.
Burbank, CA, April 19, 2018 --(PR.com)-- Join the Editors' Lounge on Friday, April 27th for a night dedicated to the latest versions of Blackmagic
Design's flagship studio software: the just-released DaVinci Resolve 15 and the addition of Fusion VFX to the integrated Resolve toolset.
This fall, we will move into Phase 2, where we will be using a 12x12 Blackmagic
Design Smart Video Hub.
AMD has recently announced industry leaders AJA, Adobe, Avid, Blackmagic
Design, The Foundry and The Pixel Farm will demonstrate highly efficient workflows with deep AMD FirePro professional graphics integration at the AMD Showcase at IBC 2015.
Gaga in Gareth Pugh dress and Angela Tye puts finishing touches to exhibit, right
Cinema Raw: Shooting and Color Grading With the Ikonoskop, Digital Bolex, and Blackmagic
Danish company LogicKeyboard, a supplier of shortcut keyboard solutions, on Tuesday announced a new keyboard for Blackmagic
Design's DaVinci Resolve colour correction software for Mac.


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— Detroit's next big tour stop may end up being the General Motors Detroit-Hamtramck Assembly Plant, where the Chevrolet Volt is being built.
GM officials said they're preparing for huge interest — from school groups to industry leaders — wanting to visit the plant once official production of the extended-range electric car begins in November.
"I think it will be five times as many people as normal at the onset," said plant manager Teri Quigley.
Preproduction of the Volt is under way, with three Volts built initially. GM expects to produce fewer than 500 preproduction models by the time official production begins.
Already, the daily list of non-factory workers requesting access to the plant exceeds the factory's 1,100-person workforce, Quigley said.
"It's three times what you would normally expect … and I'm only building a couple of them," she said. "What happens later?"
Uninvited visitors aren't welcome yet. Those coming to the plant now are GM workers from other offices or Volt's suppliers.
GM is making plans for outside visitors, including preparing educational materials and a video about the Volt.
Besides the Volt, the plant has some other interesting features, including a cemetery dating to 1863 and a 16.5-acre wildlife habitat. Detroit-Hamtramck also built President Barack Obama's limousines.
"It was a heart-pumping moment," Quigley said about driving a Volt off the assembly line. "It's real — we've been looking at this thing for a long time."
With its extend-range, electric-drive powertrain, Volt is unlike other GM vehicles.
"We're totally excited. This is groundbreaking for us," said Sheryl Brown, 44, a United Auto Workers member in the quality department.
In 2007, the mood was drastically different with rumors the plant might close. But the UAW contract included an agreement that Volt would be built at Detroit-Hamtramck if GM went ahead with the car.
Last year, GM announced it was investing $336 million in the plant to prepare for the Volt.
Quigley has had teams at GM's preproduction facility in Warren, Mich., working on early versions of the Volt. "We've done a ton of training," she said.
The plant doesn't have a separate assembly line for Volt; it will be built with the Cadillac DTS and Buick Lucerne.
There are some differences, however, for the Volt, which has a 400-pound battery pack.
"It's really, really great that we've got this Volt in our system," Quigley said. "It's real. We can touch them and feel them and do our job on them. But at the end of the day, the customer who is buying the DTS in front of that Volt or the Lucerne behind that Volt, doesn't care that there was a Volt between the two. We can be excited, but we have to be focused. We can't let the Volt distract us from what we're doing on these other cars."
While Detroit-Hamtramck is running at one shift right now, Quigley hopes demand for the Volt and possibly another vehicle will justify adding a second.
"The desire to succeed is there," she said.


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Retailers and the waste industry are calling on state and federal governments to harmonise plastic bans, kerbside recycling and container deposit schemes.
Woolworths, the National Retailers Association (NRA) and a peak waste body the Waste Management & Resource Recovery (WMRR) all called for governments to synchronise the timing and requirements for single use plastics.
South Australia has already implemented a ban on single use plastics such as plastic straws, Queensland and the ACT are proposing bans for later this year, and Victoria has said its ban will begin in February 2023.
Western Australia has a series of plans to remove single use plastic by 2023 and NSW and Tasmania have yet to make any announcements. NSW has yet to ban single use plastic bags, even though other states successfully imposed bans on bags dating back to 2009.
The call by business for all jurisdictions to create consistent rules came as the federal government released its long awaited national plastics plan which called for a fast-tracking of the phasing out of unnecessary single-use plastics packaging.
The plan, released by Environment Minister Sussan Ley and the
Assistant Minister for Waste Reduction Trevor Evans, is built around a set of voluntary industry targets, but leaves the door open for “regulatory action should industry phase-outs not be achieved.”
Under the plan, loose fill and moulded polystyrene packaging will be phased out by July 2022, expanded polystyrene food ware by December 2022, and bio-plastics and PVC packaging labels by December 2022.
The plan also endorsed three other voluntary industry targets established by the Australian Packaging Covenant Organisation (APCO) to be achieved by 2025.
- 100 per cent reusable, recyclable or compostable packaging,
- 70 per cent of plastic packaging being recycled or composted,
- 50 per cent of average recycled content included in packaging.
The national plan also called for at least 80 per cent of supermarket products to display the Australasian Recycling Label by December 2023, to give consumers easy-to-understand recycling information.
About 89 per cent of packaging is now reusable or compostable, APCO data shows.
But a larger challenge remains in plastic packaging where the recycling rates sit well below national targets, at 18 per cent, but with higher rates for individual polymers such as PET (36 per cent) and HDPE (23 per cent), according to APCO. Similarly average recycled content is sitting at around 38 per cent.
The new arrangements “stand the best chance at success if they flow down from a national suite of priorities, as we are one country with myriad supply chain stakeholders operating across the various jurisdictions” said Gayle Sloan, head of the industry association WMRR.
“WMRR urges the federal government to commence the development of a nationally consistent detailed approach – in collaboration with the states and territories – so as to assist businesses and the community comply with the impending plastic export bans, as well as the various plastic plans and actions, providing national consistency and certainty,” Ms Sloan said.
Alex Holt, Woolworths general manager, welcomed the federal government’s leadership that complements the work of the states and territories.
“We note the importance of consistency in bringing about these important changes, both for industry and consumers, as we collectively reduce our reliance on plastics,” Mr Holt said.
“Reducing plastic in favour of more sustainable packaging is a priority for many of our customers and we have committed to make all of our own brand packaging widely recyclable, reusable or compostable by 2023.″
Retailers are keen to remove plastics but needed clear and consistent guidelines, says David Stout, the director of policy at the National Retail Association.
“It’s harmonisation to accelerate not harmonisation to stall,” Mr Stout said.
“National supply chains are very complex and some are even international.”
“With some of these products they’re writing contracts not for 10 minutes but for two to three years. So they have to be very clear about where the goalposts are.
“When they have got things you can do in South Australia, you can’t do in Queensland and you can do it in Tasmania, but not the rest of Australia, what happens is they sit in wait.“
“We need clear succinct information that we can all say these are the guidelines. This is where you need to go.”
He called out the various container deposit schemes that are causing confusion for consumers and industry and were a “ready candidate for a national scheme”
“You’ve got people in Tweed Heads that are actually treated differently than those in Coolangatta, some what problematic.”
“It is difficult for retailers who have got national supply chains that don’t work border to border. It is very impractical to set up a solutions, working across the individual states,” Mr Stout said.
Mr Stout said the regular meeting of environment ministers was the appropriate forum, noting that “the teams in every state are eager to have these types of policy discussions at a COAG (Council of Australian Governments) type level.
COAG was abolished and streamlined under the new national cabinet arrangements. Environment is no longer a specialised committee under the new arrangements.
The national plan refers to better alignment between states but does not specify how that will occur.
“Ideally, the federal government will adopt a polluter-pays model for managing packaging materials, with stronger independent oversight and improved targets of recycled content in plastics, given the current 20 per cent target for plastics is wholly inadequate,” Ms Sloan concluded.
According to the national plastics plan, Australia produces 2.5 million tonnes of plastic waste each year, equating to 100 kilograms per person. Of this, only 13 per cent of plastic is recovered and 84 per cent is sent to landfill, with about 130,000 tonnes of the plastic leaking into the environment each year.
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Personal banker who stole £50,000 from elderly customers is jailed for two years
Guilty: Natasha Bassi defrauded customers by taking money from their accounts
A personal banker who stole more than £50,000 from elderly customers has been jailed for two years.
Natasha Bassi, 23, from Southampton, admitted defrauding customers by taking money from their accounts – totalling £53,219 – in just six months.
She admitted fraud by making 17 unauthorised transactions between May 6 and December 16, 2014, on the accounts of 14 customers.
Jane Terry, prosecuting, said Bassi abused her position as a Santander personal banker and took the opportunity to benefit from her victims 'fragility', preying on elderly people less likely to notice money going missing from their accounts.
Detective Constable Hannah Ellis, from the Economic Crime Unit, said: 'Bassi transferred money from the bank's most vulnerable customers.
It would have been distressing for her victims when they discovered the money missing from their accounts.'
A Santander spokesman said: 'We suspended Bassi in December 2014 after identifying fraudulent activity and notified the police.
'We worked closely with the authorities and ensured that all customers were fully refunded. If a customer is ever a victim of fraud through no fault of their own, we will ensure they incur no financial loss.'
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Chicago , IL
200 East Randolph Drive 80th Floor
Plastics News' growing conference business is adding an inaugural event in 2014, the Plastics Financial Summit, to be held April 1-2, 2014, at the Mid-America Club in downtown Chicago.
This event is structured with a dinner on the evening of Tuesday, April 1, with one-day conference proceedings on Wednesday, April 2, that will include business owners and the investment community to cover the latest topics in financial matters. The subjects will include careful succession planning to how to value a company in the market, including choosing an entity structure (C corporations, S corporations, partnerships and limited liability). A segment will also include the financial considerations of establishing an international operation, offering tools and techniques to make such a transition.
If you are a business owner or an investor, this financial summit is for you. Now more than ever, there are myriad reasons to invest in plastics and this conference will cover the industry from a margin and future margin standpoint.
Plastics News' experts discuss trends impacting the recycling of plastic materials analyzing market conditions, opportunities, threats, regulatory activity, and sustainability trends' impact on supply. View analysis of leading recyclers, resin price and production trends, and recycling rates as well as perspectives from industry thought leaders regarding market trends.Learn more
December 8, 2013 - December 10, 2013Kingdom Polymers & Plastics Summit 2013
December 10, 2013 - December 11, 2013AMI's Compounding World Forum
December 10, 2013 - December 12, 2013AMI's Waterproof Membrane 2013
December 10, 2013 - December 11, 2013Case Study Conference 2013
December 10, 2013 - December 11, 2013European Bioplastics Conference 2013More Events


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Several new bits of information about the rumble enabled SIXAXIS controller have emerged, according to Inner Bits. Inner Bits states that prototypes of the new SIXAXIS controller with rumble have made their way into the hands of various Sony developers, however, there is still no official announcement from Sony. An official announcement is expected within the next two to three months.
“We can confirm that prototypes of the new rumble-enabled controllers have made their way to various Sony developers. Information on these controllers is still closely held by Sony and their partners, but an official announcement and unveiling is expected in the next two to three months.”
Also, new SIXAXIS controllers are quitely replacing the original controllers launched with the console. Hardware changes occur regularly, and so far, Sony has improved the fidelity of motion sensing in the controller.
UPDATE (4th August 2007 at 16:50):
Sony denied recent reports in speaking to GamePro that rumble-enabled PS3 controllers are on the way. Sony did, however, acknowledge motion-sensing enhancements for the SIXAXIS controller.
“We have not added rumble [to PS3], and have no announcements regarding this feature,” said Dave Karraker, Sony’s Cirector of Corporate Communications.
Karraker did confirm that developers are receiving better motion-sensing controllers, though he downplayed the news.


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On May 29, the 23rd International Exhibition for Electrical Equipment for Power and Electrical Engineering, Automation and Lighting Engineering in Expocentre – Elektro 2014 – came to an end. The exposition space of 28,000 sq m accommodated showcases of 430 companies from 21 countries, including 215 Russian companies from all over the country, and national pavilions of Belgium, China, the Czech Republic, Germany, Slovakia and Spain. The exhibitors demonstrated the latest accomplishments of the electric and power industries.
The exhibition is organized by Expocentre ZAO with support from the Russian Ministry of Energy and the Moscow City Government, and auspices of the Russian Chamber of Commerce and Industry. For the first time the organizing committee was headed by Aleksander Torshin, the First Deputy Chairman of the Council of the Federation of the Russian Federal Assembly.
The exhibition salons – Electrical Engineering; Power Engineering; Cables. Conductors. Fittings; Power Saving and Innovations; Lighting Engineering; and Building Automation – showcased the whole range of products and services satisfying the interests and demands of all participants of the electric market, e.g. power engineers, manufacturers and consumers of electrical products and cables.
The events held as part of the exhibition gave plenty of opportunities to discuss business and relevant problems. They included the Marketing Club of Electrical Engineering Companies; the 11th International Conference on Renewable and Small-Power Energy; the 2nd International Forum SMART CITY 2014 – Building Automation for Energy Saving, Comfort and Safety; Lumen. Commercial Lighting Engineering Conference; the 2nd Russian Business Forum on Electrical Engineering. Business Strategy 2014; workshops and presentations.
During Elektro 2014 Russian Grids OAO and Expocentre ZAO signed an agreement to hold major electric congress and exhibition – the RUGRID-ELECTRO International Energy Forum – in Moscow in October of 2014.
Leading international and Russian electric and power companies are invited to take part in the forum, which will include an international trade show and many other accompanying events.
To learn more, go to http://www.elektro-expo.ru/en/


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Nickelodeon President Cyma Zarghami Departs
June 5, 2018
Nickelodeon June 4 announced that longtime president Cyma Zarghami is stepping down after more than 30 years with the network. As Zarghami exits, Nickelodeon claims to have the highest share of total viewing in kids’ television.
While Viacom conducts a search for a successor, Sarah Levy, COO of Viacom Media Networks, will lead the brand on an interim basis.
Levy will work with Nickelodeon’s management team to launch a pipeline of more than 800 new episodes and accelerate the brand’s push into new and next-generation streaming platforms, film, live experiences and consumer products.
Zarghami joined Nickelodeon in 1985 and was named president in 2006. Under her leadership, Nickelodeon became a global brand for kids, spanning linear and multiplatform programming, film, live experiences and consumer products.
“Over the course of her career, Cyma has played an integral role in growing Nickelodeon into the dominant force in kids’ entertainment,” Bob Bakish, CEO of Viacom, said in a statement. “Her instincts for creating content and experiences that kids love have been vital to the brand’s success around the world.”
Upon assuming control of Viacom, Bakish said the media company would focus ongoing efforts on select brands, that include Paramount Pictures and Nickelodeon and Nick Jr., among others.
“We continue to evolve the business and connect with young audiences in new and innovative ways,” Bakish said. “I want to extend my deepest gratitude to Cyma for her leadership and wish her every success.”


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All attention is now focused on what Apple will release in the near future, but this does not prevent analysts from speculating about the more distant future.
An analyst from Barclays believes that in 2019 Apple will release not only something updated, but also a budget version of something, as well as get rid of some function. The company expects a lot of changes.
Let's start with AirPods. According to the analyst, AirPods 2 will be released during the 2019 holiday season. Earlier, there were rumors that the company would release updated headphones, and that they could be waterproof and soundproof. In addition, the new headphones will cost more than the current ones.
Apple is also working on a new budget smart speaker under the Beats brand. Earlier rumors claimed that it will be released before the end of 2018, but now it is reported that the column will also be released in 2019.
Now about 3D Touch. According to analysts and sources, the 3D Touch feature will disappear from smartphones by 2019. However, this information is not yet accurate and plans are subject to change.
There is nothing surprising in the new information, even if you have not followed the rumors before. We know there are new AirPods and budget smart columns coming out. However, information about 3D Touch is of interest.


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Instagram has been going through a lot of changes since 2022 began. Recently they rolled out an option for users to create and donate for fundraisers. Now they are working on an algorithm that will promote original content before reshared content.
The company’s head, Adam Mosseri announced the same via Twitter and said that these changes will be crucial to creators and “incredibly important to Instagram’s future”.
A few other new features are Product tags and Enhanced tags where the bio category will show up when users are tagged in a picture/video.
📣 New Features 📣Advertisement
We’ve added new ways to tag and improved ranking:
– Product Tags
– Enhanced Tags
– Ranking for originalityAdvertisement
Creators are so important to the future of Instagram, and we want to make sure that they are successful and get all the credit they deserve. pic.twitter.com/PP7Qa10oJr
— Adam Mosseri (@mosseri) April 20, 2022Advertisement
Talking about the ranking change, Mosseri said that the modifications are focused on the idea of originality. “If you create something from scratch, you should get more credit than if you are resharing something that you found from someone else. We’re going to do more to try and value original content more, particularly compared to reposted content”, he said.
The product tags option is now available for all. With this, you can tag your favourite product and drive traffic to that business or creator of the product. The enhance tags modify how normal tags show up on a post. For example, if you have a tailored category for your account on your bio, the category will show along with your name in the tags.
For more breaking news, click here.


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Over the past three months, British businesses have put 2.6 billion eggs into egg boxes and whizzed up a further 336 million processed eggs for use in other foods. That may sound like a lot (it is a lot: it’s more than 170,000 tonnes of eggs) but these figures actually represent an alarming decline in egg production. Packed eggs are down almost 10 per cent on last year, while processed eggs have fallen 12 per cent, and the difference is being noticed on supermarket shelves: Asda and Morrisons have limited egg sales to two boxes per customer, while several other supermarkets have imposed a three-box limit.
The government has had more than six months to prepare for a shortage of one of the UK’s cheapest and most nutritious foods. Farmers started warning this would happen in April. Of the money that goes into getting an egg to the shop, about 60 per cent is food, made from wheat. Russia’s invasion of Ukraine (which caused prices of fuel, fertiliser and wheat to rise precipitously) had an immediate effect on the price of egg production. Phill Crawley, an egg farmer and vice-chair of the National Farmers’ Union (NFU)’s poultry board, said the cost of feeding chickens increased by around 75 per cent in a short space of time.
But most egg farmers couldn’t push these price increases on to their customers, because the packers and supermarkets who buy from the farms have fixed-price contracts. Olly Harrison, a grain farmer who sells grain to the poultry sector, told me supermarkets did increase the price they paid for eggs by around 20 per cent earlier this year, but the increase “wasn’t making it to the farm”.
Nor is it just grain that’s a problem. Harrison said the costs of energy and fertiliser on his farm have tripled, while fuel has more than doubled and machinery costs have risen by around 50 per cent. “The cash flow needed to finance a crop and grow a crop is now more than double what it was 12 months ago.”
The economics of selling consumers a free-range egg now look like this: the farmer will buy 32,000 pullets (16-week-old hens) for £5.25 a bird, and feed each bird about £21 in grain. Over little more than a year, the birds will lay about 335 eggs each. After a year of hard work on the part of the chickens (8 per cent of whom will die during that time) and the farmer, neither is any better off. The chickens get sold for a “net old hen value” (surely one of the saddest terms in agriculture) of 5p each, if they can be sold at all, and are made into dog food. The farmer, having borrowed £1.3m to pay for his flock, can expect to make a net loss at current prices of around £265,000.
Unsurprisingly, this is leading many farmers to refrain from investing in new flocks (Harrison added that planning laws make putting up new chicken sheds “a nightmare”), and many simply can’t afford to borrow the money to do so, as rising interest rates and more nervous lenders make finance much harder and more expensive (in some cases, more than twice as expensive) to access. Still more pressure is added by the uncertainty of the worst avian flu outbreak on record (although the NFU’s president, Minette Batters, has said this is “a totally separate issue” to the egg crisis), and the complicated changes to farm subsidies being introduced as a result of Brexit.
In supermarkets, the price of eggs has risen steeply, which may be due to their other costs (wages, energy) rising, or it may be because they just want more money. After pressure from the NFU and from farmers such as Harrison on social media, some supermarkets have committed to putting more money into the supply chain, but it's still not clear how much of this gets back into new food production.
This is a big problem for the rest of us because the ability to make a decent omelette is not just a cornerstone of gastronomy (the trick is to pull the egg into the centre of the pan with a fork as it cooks); it is crucial to our economy. One of the reasons Britain is so susceptible to inflation is that we import almost half of our food, which means changes in money markets make things more expensive in British supermarkets. This is part of the reason fruit and veg prices have risen by 35 per cent in the past year. British produce is also more sustainable and supports more jobs: for less than £3bn in subsidies last year, the sector returned £11.2bn in gross value added (GVA) to the economy.
Despite a very productive climate – Harrison pointed out that the UK holds the world record for wheat production – the UK’s mistreatment of its agriculture sector means it is now in peril. The promise of a better settlement outside the EU has become a grim reality in which trade deals favour cheaper, lower-welfare imports and a lack of seasonal workers leaves produce rotting in the fields.
Crawley explained that in the egg sector, as in so many other areas of the economy, the real problem is that there is so little transparency in the supply chain. A centuries-old network of family businesses has come into contact with the cold logic of globalised capitalism, and government is failing to protect it because everyone has a different answer about where the problem lies. Harrison was more blunt: “There's no trust in any of it,” he said. “There's too many people getting a skim out of it as it goes from the farm gate to the supermarket carrier bag.”
Data visualisation by Kath Swindells.


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"The one thing we can control is wins and losses so you want to make sure that you've got the product available and obviously you didn't think Auburn was going to have the year they've had which has been a pleasant surprise so the Auburn fan base is extremely excited so we try to make sure we put in place and then try to adjust and make sure we have additional merchandise if it is warranted and certainly this year it has been. It's been good for business and good for the economy overall," said Shannon Collins, the President of ScreenTech.
ScreenTech in Dothan had its annual Black Friday sale this morning--selling t-shirts, hats and jackets for less than half the price but this year the crowds were bigger than ever thanks to the stellar seasons and a little game called the Iron Bowl tomorrow.
"A lot of people are super excited for it and they're really looking forward to getting dressed up for the game because I think both sides think that they have a legitimate chance to win the football game so that adds to the excitement. People are passionate about their teams so it's adding to a lot of the excitement here but also people buying merchandise," Collins said.


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Ubiquiti (NYSE:UI) Coverage Initiated by Analysts at BWS Financial
Equities researchers at BWS Financial began coverage on shares of Ubiquiti (NYSE:UI) in a research note issued on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Ubiquiti from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. ValuEngine lowered shares of Ubiquiti from a “hold” rating to a “sell” rating in a report on Saturday, October 5th.
UI traded up $3.85 on Wednesday, hitting $123.01. The company had a trading volume of 263,167 shares, compared to its average volume of 385,853. The company has a debt-to-equity ratio of 4.68, a current ratio of 4.21 and a quick ratio of 2.73. Ubiquiti has a 52-week low of $84.30 and a 52-week high of $174.95. The firm has a market capitalization of $7.87 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 2.32 and a beta of 1.22.
An institutional investor recently bought a new position in Ubiquiti stock. Denali Advisors LLC bought a new position in Ubiquiti Inc. (NYSE:UI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,800 shares of the company’s stock, valued at approximately $2,815,000. Institutional investors own 19.15% of the company’s stock.
Ubiquiti Company Profile
Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers worldwide. It develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.
Further Reading: What is Green Investing?
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Bank of Thailand CBDC for business pilot finds DLT limitations
The assistant governor of the Financial Markets Operations Group at the Bank of Thailand (BOT), Vachira Arromdee, has announced the results of the Central Bank Digital Currency (CBDC) for Business Prototype Development Project. The project is a collaboration between the BOT, SCG and Digital Ventures Company Limited (DV) initiated in June 2020, with support from technology provider ConsenSys. The project aims to explore how CBDC can be used by the business sector to enhance efficiency and flexibility of payments while supporting financial innovation. The CBDC system prototype uses distributed ledger technology (DLT) in integrating with the procurement management, billing, and payments systems between SCG and its business partners (suppliers).
The BOT test results demonstrate that DLT can increase payment efficiency for businesses by allowing users to set various conditions on the CBDC (programmable money) to enhance flexibility in handling business activities. The experiments include setting conditions for payments to be made as specified in invoices in supply chain financing and setting conditions to enhance efficiency in cash management. However, the results note that the usage of DLT in this prototype has some limitations, particularly in supporting large transaction volumes and preserving transaction privacy. BOT says that resolving these issues through technology development or system design will need to be explored further.
The Project marks the first time the BOT has expanded the scope of CBDC development to business users. The bank says it highlights an important step in staying apace with the advancement of digital currencies both domestically and abroad, which could play a significant role in future economic and financial activities. During 2021-2022, the BOT will focus on the research and development of a publicly-accessible CBDC (retail CBDC). The design of CBDC for widespread usage will need to take into consideration safety and efficiency as well as implications on monetary policy, financial system stability, and the roles of financial institutions and the central bank.
Latin American corporate indicators materialising challenges in 2021
Latin American corporate credit indicators point to an improving economic and operating environment for most countries across the region in 2021, while challenges surrounding the rollout of vaccinations and political volatility materialise, according to a series of new reports from Fitch Ratings.
Corporates in Argentina already have limited access to US dollar revenues and reserves. Several capital controls forced them to burn US dollar resources held abroad, reducing liquidity cushions and weakening financial flexibility. Brazil's economic recovery is threatened by a strong second wave of the coronavirus in several regions of the country, very low levels of vaccination and high unemployment, resulting in a challenging Q1 2021. Key sectors are showing gradual, although slower, recovery, despite this challenging scenario.
Chile faces a heavy political cycle over the next two years. Presidential and congressional elections take place in late 2021 amid a constitutional rewrite, which will elect a 155-member constitutional convention in April 2021. This process should end around mid-2022, when the Chilean population will vote on the new constitution. Colombian corporate revenues and operating cash flows, severely affected in 2020 by demand shocks and economic disruptions, will gradually recover and reach pre-pandemic levels in 2022-2023. About 10% of revenues and 20% of aggregate EBITDA were lost in 2020.
The ability of Mexican issuers to reduce leverage depends on boosting operating results. Expectations for gradual strengthening of leverage metrics in the next two years are challenged by the current economic environment and will most likely be delayed. Vaccine distribution and reopening of businesses will determine the speed of recovery by sector and industry. Economic activity in Peru during the first half of 2021 will be marked by continued measures of fighting the coronavirus, including the vaccination of the population, and a moderate recovery in private sector investments pending the outcome of the presidential election. Some volatility in the exchange rate is expected during the first half of the year as a result of the electoral process.
Sage expands CSI partnership to deliver vendor payments offering
Sage and Corporate Spending Innovations (CSI) have announced an expanded relationship. The companies are working together to deliver new vendor payments capabilities natively within the Sage Intacct cloud financial management system - providing a seamless experience from bill to reconciliation for joint customers.
From processing automated clearing house (ACH) batches to printing and mailing cheques, the accounts payable (AP) process is often time-consuming and costly. Finance teams end up jumping between multiple systems or getting bogged down in manual processes to deliver and reconcile vendor payments. With the new Sage Intacct Vendor Payments powered by CSI, businesses should be able to streamline and automate their payments process. This solution brings together Sage Intacct’s cloud financials and the payments platform from Corporate Spending Innovations. The offering aims to enable customers to pay vendors quickly, speed up reconciliations, and offer more ways to pay, while reducing payment transaction costs.
“With the sudden move to fully remote workforces for many businesses in 2020, CFOs became painfully aware that digitising AP, especially payments, was an initiative that should have been implemented years ago,” said David Disque, president from Corporate Spending Innovations.
“Most companies don’t realise just how much time and money gets wasted in their traditional AP workflows,” added Dan Miller, Sage’s SVP of Product for Sage Intacct. “Studies have shown it can cost companies US$20 or more per cheque to pay vendors and more than 80% of an AP team’s time is spent on manual transactions and payment processing. Sage Intacct customers can now leverage the trusted payments platform from Corporate Spending Innovations as a seamless extension to their company’s AP team to streamline the AP process and save money on each vendor payment.”
Sage Intacct Vendor Payments powered by CSI is currently available to US-based early adopters and is expected to be generally available to all US-based customers this summer.
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JD Logistics is planning to acquire a fleet of places since the Chinese firm is planning to take advantage of the cross-border cargo market. The firm will then manage to get into the global supply chain.
The logistics part of Jingdong plans on not having less than 100 planes before 2030. Some of the planes will be jointly purchased or leased. The information was issued by Yui Yi, the CEO of the firm. Initially, the firm utilized chartered planes to transport goods. The Civil Aviation Administration has also issued its approval, and the e-commerce entity can now operate the air freight business.
Businesses globally are looking for different ways to move different items from consumer electronics to masks from China to other parts of the globe. The main issue is the widespread lockdowns and some delays when it comes to manufacturing. Also, the seaports in the nation have been affected by the jam amid the pandemic. Different firms are also looking into air freight as a suitable alternative. The airlines are now having a hard time absorbing the backlog while also taking in new orders, especially as the Christmas season is about to kick in.
The supply chain has been significantly affected amid the pandemic. There has been a shortage when it comes to air freight resources and shipping resources. The disruptions by the pandemic won’t last long, and there has been a shift to online shopping around the globe. Companies such as Jingdong can take advantage of the business opportunities that come about in the process.
During a recent IPO, JD Logistics managed to raise at least $3.2 billion. The company has now managed to join other internet giants such as Amazon.
For the international business to grow, the firm based in Beijing will beef up its warehouses’ network overseas while prioritizing the construction of delivery facilities that are highly automated both in Europe and North America.
The corporation is also planning to reduce its environmental footprint. They will invest $155 million (1 billion yuan) in supply chain technology to guarantee minimal emissions within the next five years.
Jingdong is also undergoing some major changes when it comes to leadership roles. With these changes, the company is set to come up with long-term business strategies that are unrivaled. The shift is expected to impact most of the e-commerce entity’s collaborative strategies and subsidiaries within the firm. The transitions will also be smooth.
A New President Position in JD.com
Jingdong now has a president position, and it will be filled by Xu Lei, the JD Retail CEO. He will now be in charge of the daily operations at JD.com. The task of overseeing everything within the company was being handled by Liu Qiangdong, the founder of the firm. He will now step back from managing the daily functions of the different branches of JD.com.
The management structure at JD.com is sound enough, and there are many excellent business leaders who also believe in the long-term business philosophy of the e-commerce giant. For Richard Liu, he has spent a considerable number of years defining a role that Xu Lei would fill. By doing so, Richard Liu has set the stage for the success of the company.
How Does Richard Liu Plan to Move Forward?
Liu Qiangdong won’t leave Jingdong immediately. His plan focuses more on engaging in his passion for assisting the communities with underprivileged people in China. Richard Liu also wants to mentor young leaders who are set to take C-suite positions in the future while the firm grows. As the founder, Liu Qiangdong will retain 80 percent of the firm’s voting rights while maintaining an active role.


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Drinking three cups of coffee a day may help you live longer.
This is according to a study of almost half a million people from 10 European countries, as revealed by the BBC.
The research, published in the journal the Annals of Internal Medicine, suggests an extra cup of coffee could lengthen a person’s lifespan – even if it is decaffeinated.
But sceptical experts point out it is impossible to say for sure that it is the coffee that is having a protective effect, rather than say, a more healthy lifestyle in coffee drinkers.
They say there is no need to reach for that extra cup of coffee just yet!
Read more – bbc.com


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Researchers at the University of California Santa Barbara have created a cheaper way to test for COVID-19 in your home using a smartphone camera and an app.
This new system is described in a paper published in the journal JAMA Open. It uses basic laboratory equipment and the app bacticount for the detection of pathogens in saliva. You simply need to place your saliva sample on a hot plate and then use the test kit. The specific reactive solution is what amplifies any viral RNA in the saliva sample. It’s similar to the process used in COVID test kits at home.
This process is known as “Loop-mediated ISothermal Amplifying,” or LAMP.
After any viral RNA has been amplified, place a cardboard container with an LED light on top. A smartphone’s camera will then be able to look inside the box with an LED light. It should be able to see any color reactions that may indicate the presence of COVID-19. A bright red light should be created if there is a viral load. The red light will appear faster if the viral load is greater, which means it is more contagious. Based on the speed at which that red light appears, the app will calculate your viral load.
Gizmodo states that this test setup will cost less than $100. This includes the price of the phone you would need to run it. You’d pay $7 for each additional test that would require a new kit. This is a great deal compared to the hundreds of dollars that insurance providers charge for certain PCR or rapid tests.
Researchers believe this method of testing could be as accurate as a PCR. It could also allow for faster results than a PCR test done at a doctor’s clinic that processes hundreds of samples per day. It is important to remember that the study only included 50 participants. Further research will be required before this method can be widely used.
Although the original purpose of the test kit was to be used in “resource-limited settings”, its researcher informed Gizmodo that it can easily be adapted for home testing. Bacticount is only currently compatible with the Samsung Galaxy S9 because of its camera calibrations. As research continues, this could change and allow more smartphones to access the testing technology.


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updated 08:45 am EST, Fri December 3, 2010
Apple widens Moto lawsuit to get 12 more patents
Apple has quietly widened the scope of its ongoing countersuits against Motorola to include 12 more patents. The iPhone maker on Wednesday amended a Wisconsin lawsuit to accuse Motorola of infringing on 12 extra patents beyond the 12 that were already in play, most of which target Android. The move was a response to a motion for a declaratory judgment by Motorola in Delaware that could theoretically have ruled the patents invalid and prevented Apple from using them in court.
The new motion was accompanied by one on Thursday to dismiss Motorola's declaratory judgment case in Delaware or else move it to Wisconsin to better relate it to the widened lawsuit.
Apple also notably drew a connection to Motorola's countersuits against Microsoft. Transferring the Delaware motion to Wisconsin shouldn't be an issue if Motorola is already suing Microsoft there, the request said. Microsoft is already targeting Motorola in multiple ways, including suing to slow down Android and in a dispute over licenses for Xbox technology.
Expanding the legal action makes Motorola subject to as many as 24 Apple patents and gives Apple a symbolic edge, as Motorola's preemptive claims currently target Apple with 18 patents. Motorola is widely believed to have filed first suspecting that Apple's suing of HTC was the start of a campaign against major Android phone makers to slow them down or extract royalties. Apple has been bolstering its legal team to help take the edge in lawsuits. [via Florian Mueller]


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Renew will open Feb. 8
DERRY — The Renew clothing ministry at Calvary Bible Church, 145 Hampstead Road, will open Saturday, Feb. 8, from 8 to 10 a.m.
The ministry is located in a trailer adjacent to the church building. Enter at the marquee sign; Renew is on the right.
The clothing ministry is open to all area families in need or on a budget. Derry residency is not required. All clothes are clean and organized.
Households are limited to 20 of the newest items, plus an unlimited number of any other items per visit.
No donations of money are accepted. Call 434-1516 for information or visit “Renew Derry” on Facebook.
St. Luke food drive continues
DERRY — St. Luke’s United Methodist Church continues its annual “Souper Bowl” food drive to benefit local food pantries.
The church at 63 East Broadway is collecting nonperishable food items and personal care items through Feb. 2.
Church members hope to beat last year’s goal when upward of 600 items were collected.
Call 434-4767 for information.


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The round was led by Transpose Platform and Shopify, joined by Jason Lemkin of SaaStr, Rajeev Dham from Sapphire Ventures, CRV and Alven.
In late 2020, the company had raised $25 million in Series B funding on a $305 million valuation. The company was valued at $680 million prior to this round.
At the time of the Series B, it supported more than 4,500 stores with its technology that brings all of the channels that shoppers use to contact online stores into one feed for each company. This way support tickets can be managed in a number of different ways, including live chat, email, phone, SMS, messaging apps and social media.
Today, the six-year-old company is working with more than 10,000 online stores, including Princess Polly, Steve Madden, Olipop and Marine Layer, selling products via Shopify, BigCommerce and Adobe Commerce.
It also has grown to 245 employees across offices in San Francisco, Paris, Toronto, New York City, Sydney, Belgrade and Charlotte.
“The environment we’re working in has changed quite a bit. The 2020 e-commerce boom that helped fuel our growth up to our Series B has subsided, but it’s never been a more important time to upgrade the customer experience of online stores. Lower margins and higher acquisition costs require businesses to capture more revenue from their existing customers, and customer experience is at the heart of that effort.”
Romain Lapeyre – Co-founder and CEO
Even with all of that growth, the company is monitoring its cash burn rate in this new economic environment. The company’s goals early on were to hire and grow in a sustainable way.
The company will use the new funding to accelerate the development of its Automation Add-on feature, which can deflect up to a third of incoming repetitive support tickets by providing customers with instant answers. It also has a new feature coming out soon called Revenue Add-on, which will identify customers that may generate additional revenue through online customer services.


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Kelley Blue Book recently announced the main brands, categories, and top 10 winners of its U.S. 2024 Best Resale Value Awards, which aims to recognize vehicles for their projected retained value through the initial five-year ownership period.
Toyota, now for the third consecutive year, took top honours by winning Best Resale Value: Brand, while its sibling Lexus won Best Resale Value: Luxury Brand. For the top 10 cars the Chevrolet Corvette made the list, along with the Ford Bronco and Maverick, Mercedes-Benz G-Class, Porsche 718 Cayman, and the Toyota 4Runner, GR Supra, Prius, Tacoma and Tundra.
“The automotive landscape continues to change rapidly, with more new introductions of brands and models with varying powertrains each year,” said Rheia Szymczyk, Senior Manager of Valuation Operations for Kelley Blue Book, in a statement.
She added that consumers now have more electric vehicle options, such as plug-ins and hybrids, and that KBB continues to modify its Best Resale Value Awards categories to properly reflect the marketplace. “This year marks the first Best Resale Value Award for EV startup Rivian, which is taking home an award for its successful R1S electric SUV.”
The 2024 Best Resale Value awards by vehicle category are: the Honda Civic (Compact Car), Honda Accord (Midsize Car), Chevrolet Corvette (Sports Car), and the Toyota Sienna (Minivan). For luxury it is the Lexus IS (Luxury Compact Car), Lexus ES (Luxury Midsize Car), and the Lexus LS (Luxury Full-size Car).
The Toyota Prius takes the win in the HEV/PHEV category, the Hyundai IONIQ 6 in the Electric Vehicle category, and the Mercedes-EQ EQS in the Luxury Electric Car category. Rivian R1S wins in Electric SUV, the Cadillac Lyriq in Luxury Electric SUV, and the Ford F-150 Lightning in the Electric Truck category.
For the full list winners, including category winners, see below:


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The Raleigh-Durham area is full of great minds with great ideas. From inventions to designs, many have had the opinion that their idea could make it big.
NBC will be holding a casting call in Raleigh and is looking for that person or persons with an idea for America’s next great restaurant.
If you think your restaurant idea has what it takes to become the next big restaurant chain, you’re invited to apply for NBC’s new reality competition series “America’s Next Great Restaurant”.
According to show producers, contestants will compete for the opportunity to open a new restaurant chain in four cities across the U.S.
Auditions will take place on March 22 at the Chipotle at 6102 Falls of Neuse Rd in Raleigh from 10 a.m. to 2 p.m.
For a list of other audition cities or for more information, click here.


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Google might release a Google Home smart speaker with a built-in display, akin to the Amazon Echo Show. But first, the speaker itself must become a must-have product.
Smart Home April 4, 2018
A report claims that the Facebook Portal, the social network's first hardware product, will be announced at the F8 developers conference. The device will be an Amazon Echo Show competitor, but its price might make it a tough sell.
Smart Home January 10, 2018
Google launched the Smart Display platform, which will allow companies to create devices like the Amazon Echo Show but powered by Google Assistant. The Lenovo Smart Display was featured at CES 2018 to show off the platform's capabilities.
CES 2018 January 9, 2018
Google has now officially removed YouTube from Amazon Echo Show devices and will do the same thing on Fire TV by January next year. What’s Amazon’s next move?
Apps/Software December 6, 2017
Amazon has several smart home products up for sale for Black Friday. Practically every Echo device, plus the Cloud Cam, are now selling for much less than their original price.
November 24, 2017
Here's some good news for Amazon Echo Show owners: YouTube is back and Amazon says more video services such as Vimeo and Dailymotion will be added, too. However, the new YouTube looks and feels so different.
Gadgets November 23, 2017
Amazon has just put the Echo Show on sale, slapping it with $30 discount. The company is also reportedly planning on making its video platforms more friendly for advertisers to compete with YouTube.
Smart Home October 10, 2017
Google might be developing Manhattan, its own take on the Amazon Echo Show. Tipped to be released this year or next year, the device will support YouTube, Google Assistant, and much more.
Google October 1, 2017
Amazon Echo devices are now able to call mobile phones and landline numbers for free. The upgraded Alexa Calling feature was announced alongside the new batch of Amazon Echo products.
Smart Home September 30, 2017
Amazon Echo Show users won’t be able to watch YouTube on their smart speakers anytime soon. Google has blocked its video broadcasting platform from the device, saying it violated the terms of service.
Gadgets September 27, 2017
Facebook will reportedly join the ranks of Amazon, Apple, and Google by potentially releasing new hardware devices. Built from its Building 8 lab, Facebook plans to unveil a video chat device and a smart speaker, both with AI capabilities.
Gadgets August 2, 2017
Amazon has added a neat new functionality to its Echo Show, boosting its appeal. In addition to all existing perks, users will also be able to monitor their home security camera feeds.
Smart Home June 24, 2017
The Amazon Echo Show is the latest addition to Amazon's growing line of Alexa-powered smart speakers. How does the new model compare to the original Amazon Echo, the Amazon Echo Tap, the Amazon Echo Dot, and the Amazon Echo Look?
Smart Home May 10, 2017
Amazon has officially introduced its latest smart speaker, the Echo Show equipped with a 7-inch touch screen. The gadget is up for preorder now and will start shipping next month, and here's what it can do.
Gadgets May 9, 2017


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The journey from St Petersburg to New Delhi and then to Hyderabad has been long for the Scandinavian furnishing major Ikea.
Founded in Almhulty (Sweden) and currently headquartered in Leiden (Netherlands), Ikea
has taken six years from the time it announced its Euro 1.5 billion investment in India to setting up its first country store in Hyderabad. As the chain with more than 400 stores across 29-odd countries prepares to roll out the first outlet in India next week, its journey looks like a text book case study for at least six reasons, which have nothing to do with the furniture that it is famous for.
First, the way it took off was different. It was a destination announcement of a blockbuster FDI
at that point. Then Ikea
CEO and president Mikael Ohlsson met then commerce minister Anand Sharma at the St Petersburg International Economic Forum on June 22, 2012. In a few hours Ikea’s proposal to enter India had turned almost viral across the global media. There were many multinationals networking with ministers and bureaucrats in that Russian event, but Ikea
took the thunder away by making a comment on the sideline of the summit that it was committed to invest Euro 1.5 billion in India.
That leads us to the second reason why the Ikea
proposal stood out. It was the largest FDI
in single-brand retail in India. So far single-brand had not made a place for itself while multi-brand retail hogged the limelight. Walmart was all that India was bothered about then and everything that the American retail giant did made news. After Ikea’s FDI
commitment, things changed. The most important change was that single brand became fashionable. Literally so, because the next biggest single-brand FDI
came from a fashion brand H&M. But even six years after Ikea’s announcement, it remains the single largest FDI
in single brand retail.
The third reason why Ikea
is remembered is how it was able to work its way to do business in India. The single brand retail FDI
policy at that point had put a condition that at least 30 per cent of the sourcing of products had to be mandatorily from Indian small and medium enterprises if the foreign investment was 51 per cent or more in a venture. In this case, Ikea
was putting in 100 per cent FDI
and it was clear that it wouldn’t enter India if the sourcing condition wasn’t changed. Through discussion and persuasion, the FDI
condition was changed under the UPA rule. It was a minor tweak and easy for people to miss. "Mandatory" was changed to "preferably" for MSME sourcing; however, one still had to source 30 per cent from India.
Subsequently, there were other changes too in the single-brand rules including revising the timeframe from when the 30 per cent sourcing would kick in. Even price-labeling rules were relaxed as Ikea
and some others had wanted. And that’s the fourth point about how this chain got to do business on its own terms straddling smoothly through UPA and then NDA rule without getting caught in any controversy or political crossfire. It managed to do what an Apple or a Walmart was not able to. Nobody really mentioned ''lobbying'', a dirty word in the Indian context.
Linked to its way of doing business is a Scandinavian sort of patience. And that’s the fifth reason that Ikea
can be a case study. It waited for six years, from 2012 to 2018, to open its first store in the country. When its top executives were asked earlier about when the first store would come up, they simply said there’s no hurry and there’s no deadline. They could wait for five years, 10 years, 15 years or whatever it takes. The group believes in buying land cheap as its products are inexpensive. It also ensures there’s easy access to public transport before selecting a piece of land for its stores. That explains the wait, and Ikea
is not exactly calling it a long wait.
The sixth reason why Ikea
is different from many other FDI
proposals is the noise around its restaurant business. The speculation over whether it would sell its signature meatballs or not in India kept it in the news for long. Now we know that meatballs will be there, but of a different kind. And there’s Hyderabadi biryani too. Restaurants are an integral part of Ikea
stores as families usually go for day-long outings there, as the group likes to put it. It does make good business sense though--its overall turnover from restaurants and bistros is around Euros 1.8 billion.