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As 2012 draws to a close, it's been another turbulent twelve months for the economy. This was the year we went back into recession - but also the year that unemployment fell.
At the heart of the story are the region's businesses - desperately trying to grow despite all the cuts. Since January, we've been following the fortunes of twelve of them in the ITV Business Club.
All this week we'll be looking back on their year. We begin with two firms who've been forced to look further afield for success.
More top news
Firefighters who saved the life of an 18-month-old boy have been praised for their bravery.
A woman admits causing 'life-changing' injuries to an eight-year-old boy after she drove her car into a crowd during Eid celebrations.
Mike Ashley's Sports Direct has seen its half year profits dented. The retailer said that statutory pre-tax profits plunged 67.3%.


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In guidance published this morning urging the trade to eliminate ‘artificial’ trans fats, charge less for healthier foods and speed up salt and saturated fat reduction measures, guidance group vice chair professor Simon Capewell said: “If salt levels in food are reduced by 5-10% a year, most consumers don’t even notice any difference in taste, their taste buds simply adjust.”
While this was true up to a point, manufacturers contacted by FoodManufacture.co.uk said they had quickly learned that they would eventually reach a cut-off point after which consumers did notice a real difference.
More importantly, Capewell had also failed to recognise that salt performed a technical function in foods, which meant that manufacturers faced structural and microbiological challenges once salt levels went below a certain point, they added.
Food and Drink Federation (FDF) director of food safety and science Barbara Gallani said: “Technical challenges are not just presented by consumer acceptance of taste. There are more substantial functions that salt provides in food manufacturing, for example, providing food structure and texture. As the FSA's consultation has shown, there were some quick wins at the very beginning of the process, but continuing salt reductions have become more challenging, meaning an inevitable slowing in pace."
"Microbiological safety of food can also be compromised if recipes are changed in a way that increases the water activity of foods. Industry is investing a lot of resources into developing products with lower salt contents and will continue to do so, but this must be done in such a way as to ensure that the safety and quality of the products on offer is not compromised."
Separately, calls in the NICE guidance for the Food Standards Agency’s (FSA’s) front-of-pack traffic light labelling system to be established “as the national standard” in the UK, backed by “legislation to ensure its universal implementation” also raised eyebrows in the trade given that MEPS have only just voted to block the use of traffic light labels across Europe via the Food Information Regulation.
Finally, its invitation for the UK government to “consider supportive legislation if necessary” to force manufacturers to make further reductions in saturated fats also fails to take into account that such food legislation is increasingly decided at EU level, one industry source told FoodManufacture.co.uk.
FDF: NICE is out of touch with reality
The British Retail Consortium (BRC) said it was surprised by NICE’s intervention given that the food industry has spent years working with the FSA to reduce salt, fat and sugar from processed foods.
Director of food and consumer policy Andrew Opie told FoodManufacture.co.uk: “This isn’t a problem we recognise. Retailers have been at the forefront of re-formulation for years, working with government to improve the composition of food without compromising quality.”
He also questioned the suggestion (above) that firms could simply carry on reducing salt indefinitely: "As we have already achieved major salt reductions over a number of years, further reductions are more difficult without compromising taste and durability of products."
Food and Drink Federation communications director Julian Hunt added: “We are surprised that NICE has found the time and the money to develop guidance that seems to be out of touch with the reality of what has been happening for many years.”
He also took issue with the references to trans fats given that the levels consumed in the UK were now negligible. “Industry reformulation efforts have already resulted in the levels of trans fats in foods dropping to well below the suggested maximum daily intake recommended by the World Health Organisation.”
Th Dairy Council also expressed surprise at NICE's intervention: "We are surprised that NICE has chosen to release recommendations in areas where government agencies already have initiatives under way.”
Greencore said many manufacturers had already reduced or removed hydrogenated vegetable oils from products: "Our policy is to have no artificial trans fats or hydrogenated vegetable oils added to our products and these have been removed from all of our product categories."
Diet, heart disease and stroke
However, NICE public health director professor Mike Kelly said following the guidance would save lives: “This guidance aims to save lives and reduce the terrible toll of ill health caused by heart disease and stroke.”
Lobby Group CASH (Consensus Action on Salt and Health) also welcomed the guidance, said chairman Graham Macgregor: “For every 1g reduction in salt intake, more than 12,000 strokes and heart attack events will be prevented. This is of even greater importance given the cost savings that must be made by the present government. ”

domain: news


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GT MOTORCYCLES JOINS DUCATI DEALER NETWORK
GT Motorcycles, one of the largest motorcycle dealers in the South West, has become the latest dealership to join the Ducati dealer network.
The company has been representing motorcyclists in the South West with dedication and passion for over 30 years. With outlets also in Torbay and St. Austell, the Plymouth based dealership has always shared Ducati’s passion for motorcycling and the brand was a natural progression for GT Motorcycles.
For Ducati UK it will be represented in Plymouth for the first time and will bring much needed coverage to the far south west corner of England. A dedicated area covering 500 square feet of showroom is set to display the award winning range of Ducati motorcycles along with an extensive range of the 2009 Apparel collection and an exciting array of Ducati Performance accessories.
The GT Motorcycles service area will contain the latest Ducati tooling and diagnostic equipment and factory trained technicians bringing the level of expertise and attention to detail that Ducati riders have come to expect.
The new dealership will also have a range of demonstrators for customers to try that will include the fun fuelled Hypermotard, the light and fantastic 848, the iconic Monster 696 and the flagship 1198.
Dealer development manager, Andy Simpson, is delighted with the new appointment of GT Motorcycles and commented, “Genuine passion and enthusiasm for Ducati are the bedrocks for success with our brand. I am really pleased that Mike and his team at GT Motorcycles will be the people delivering the special Ducati experience to Devon and Cornwall. “
GT Motorcycle owner, Mike Grainger, shared Andy’s enthusiasm for the new partnership with Ducati stating, “The new GT Motorcycles showrooms in Plymouth could have been made for Ducati. The bright, clean and modern display areas are exactly what our discerning customers expect in the twenty first century and the Ducati range of motorcycles, clothing and accessories fits the bill perfectly.”
GT Motorcycles will be holding a Ducati Open Day on the 23rd and 24th May, where the Ducati road show will be attending with their event truck and a selection of demonstrators and display bikes including the new Streetfighter.
10-12 Elburton Road
Tel: 01752 480250


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MANILA - Factories supplying food packaging may continue to operate despite a lockdown order imposed in Luzon to prevent the spread of the coronavirus disease, Trade Secretary Ramon Lopez said Saturday.
Speaking to radio DZMM, Lopez said this was to avoid a shortage in the supply chain.
"Allowed na rin na mag-produce sila ng mga karton at delata sa packaging. Allowed po na magproduce sila para hindi magkaroon ng shortage sa supply chain," Lopez said.
(Manufacturers are allowed to produce boxes and cans for food packaging. This is to avoid a shortage in the supply chain.)
Cabinet Secretary Prospero Nograles, spokesperson of the interagency task force on the coronavirus response, earlier said food companies can operate at half of their total workforce during the ongoing enhanced community quarantine in Luzon.
But Lopez said factories may go beyond the threshold for basic necessities depending on the available supply in the market.
"'Yung kakailangananin pa magtrabaho beyond the 50 percent, may mga importanteng produkto iaa-allow naman po natin iyon. (Gaya ng mga) delata, instant noodles or tinapay very basic at hindi puwedeng mawala sa merkado kaya it can go beyond 50 percent,” he said.
(We will allow manufacturers to operate beyond the 50 percent workforce threshold for basic necessities like canned meat, instant noodles or bread. It’s very basic and it can't go out of stock in the market.)
Luzon is currently under enhanced community quarantine, which only allows for transport of basic goods and services such as food and medicine, among others, to contain the spread of the coronavirus disease.
Rex Agarrado of the Philippine Association of Meat Processors, Inc. (PAMPI) earlier said their factories had a hard time receiving raw materials and packaging as they were barred entry in checkpoints, delaying the manufacturing process.
Under lockdown guidelines, the movement of cargo shall be unhampered.


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A McDonald’s restaurant in Croydon wants to completely revamp its building, and expand its drive-thru – but there are concerns it could lead to an increase in litter and noise.
The fast food chain submitted a planning application earlier this year to revamp its drive-thru lane at the Waddon branch, next to Pets at Home just off Purley Way, to incorporate "tandem ordering" - where two customers can place their orders at once.
At the moment, only one customer can order at a time and those forced to wait a little longer for their food are asked to park up.
In a planning statement submitted to Croydon Council on February 15, McDonald's said the makeover would mean customers would not have to sit in long queues to place their orders.
The statement reads: "The application includes a reconfiguration of the drive thru lane to introduce tandem ordering at the side of the existing McDonald’s restaurant.
“In essence the inclusion of the tandem lane provides an additional order point in the drive-thru lane for customers to purchase meals.”
McDonald's believe this ordering process will increase the speed of preparing orders, as well as reducing the length of any potential queues during peak times.
The planning application also details a "complete" makeover to the existing indoor and outdoor seating areas as well as an extension so the kitchen can be closer to the drive-thru window
And if the application is approved, the store would also be expanded by 46 square metres – with a 17.4 square metre extension to the back of the restaurant to “improve operations”, as well as an extension of 29.2 square metres to its front to “improve the available facilities”.
The application, which is due to be heard by the Croydon Council planning sub-committee on Thursday (June 28), has been recommended for approval, but Waddon councillor Robert Canning has raised concerns.
Cllr Canning believes the potential changes may lead to an increase in congestion, as well as an increase in litter and noise, around the retail park and neighbouring roads.
He told the Advertiser: “[Residents raised] concerns around air quality, additional disturbances and additional litter if the site is expanded. There were several residents who raised objections about the application.
“I think it isn’t clear from the planning application how many extra cars or customers will use the site. A lot of the application is to redevelop the site and to expand it but there is no indication about how much potential there is for additional problems around noise, air quality and litter and the other potential disturbances for those residents who back onto the site.”
Cllr Canning added that he hopes McDonald’s addressed some of the concerns raised by residents themselves before any work, if approved, is started.
“The hearing is on Thursday evening and I am hoping there will be a bit more scope with the conditions,” he said.
“Maybe there should be something to require litter to be picked up and I hope, if these conditions fall outside the planning committee’s remit, McDonald’s will go away and respond to the concerns residents have.
“They could even go out and do litter picking themselves or go and plant some trees to help with the air quality.”
What do you think of the plans? Get in touch by emailing firstname.lastname@example.org.


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WASHINGTON, (Pakistan Point News - APP -25th Augst,2016) : US top retailers have said they are opening investigation against one of Indias top textile companies, a week after a major retailer announced to cut ties with the company for selling cheap sheets as premium Egyptian cotton for two years. The Indian company Welspun India sells products to almost all major US retailers including Wal-Mart, J.C. Penny Co., Bed Bath & Beyond and Target. Egyptian cotton is famous for its softness and durability.
Target last Friday said it was withdrawing thousands of items from its shelves after an investigation showed that the Indian company was selling cheap cotton sheets using non-Egyptian cotton for two years. Target also announced to cut ties with the company. On Wednesday, other retailers Wal-Mart, J.C. Penny and Bed Bath announced that they were also launching investigation against Welspun for selling phony Egyptian cotton sheets, Wall Street Journal reported.
We will aggressively pursue our investigation and take appropriate action, if needed, the report said quoting Bed Bath & Beyond. Welspun said it had hired an accounting firm to review its supply chain. The companys shares prices has taken a plunge since the revelation, falling to its maximum limit on Wednesday for a third-straight day, the report said. This has forced the stock exchange to suspend trading in its shares for touching down the maximum limit.
Two-third of its $898 million sales for the year that ended March 31 were from American retailers. The company also supplies towels for the Wimbledon tennis tournament and the Rugby World Cup. The report quoting a Target spokeswoman said about 750,000 sets of sheets in stores between August 2014 and July 2016 under the Fieldcrest brand were labeled as made with Egyptian cotton. Target accused the Indian company for violating its policies. Global retailers have complained of poor quality and weak compliance at factories in India and Bangladesh, the report said.


text: Tesco has sued The Guardian and its editor, Alan Rusbridger, for libel and malicious falsehood over stories, comments and podcasts about the supermarket giant's tax arrangements. You'll find them here, and here and here and here. They reveal how Tesco has used offshore tax avoidance structures. And, of course, tax avoidance is a legal activity. So why has Tesco sued and what are the implications? That's the subject of my column in today's London Evening Standard.


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MAY THE ODDS BE EVER IN YOUR FAVOR
Inside the ‘Hunger Games’ of Porn
Virtual Reality Is the Next Battleground for Your Data
As the internet-connected world reels from revelations about personalized manipulation based on Facebook data, there’s an even bigger crisis of trust on the horizon.
THE SIXTH SENSE
How Technology Will Screw Up Our Senses
‘We’re doing a giant experiment on ourselves.’
The Week in 7 Insane Photos: October 27, 2017
From a $90 million funeral to the backlash against the Kenya election, The Daily Beast brings you the best shots from the week that was.
The Future of Porn Is Here and It’s So Real You Can Feel It
High tech teledildonic devices, where tactile sensations are transmitted between viewer and live web cam performer, are being championed by PornHub. They could change porn forever.
Nintendo’s ARMS Really Packs a Punch
The new boxing game for the Nintendo Switch is everything that Wii Sports Boxing wasn’t. So recruit a few friends and get ready to kick some CG ass.
CES 2017’s Best Gear and Gadgets
The Daily Beast peeks into some of the hottest tech coming out of the annual Consumer Electronics Show in Las Vegas
THE FUTURE IS NOW
Being Batman in Virtual Reality
With the release of Sony’s new headset, everyday consumers can now experience virtual reality—and the surreal thrill of becoming the Dark Knight himself.


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DAILY BRIEFING: Department store chain House of Fraser could be changing hands again
DEPARTMENT SALE Chinese tycoon Yuan Yafei could be putting House of Fraser on the market.
Yafei, head of the Sanpower conglomerate, bought the department chain two years ago for £450million.
But it was been reported that it could now be sold to C.banner – another Chinese outfit run by Yafei’s brother-in-law Chen Yixi.
Potential sale: Chinese tycoon Yuan Yafei could be putting House of Fraser on the market
MILLIONAIRE OUTBURST The founder of scandal-hit claims management firm Quindell has labelled its new management ‘stupid’ after their actions saw him investigated by the Serious Fraud Office.
Rob Terry quit in August last year, and incoming chairman Richard Rose changed its 2013 accounting figures to show a £64million loss instead of a £107million profit.
Quindell is now known as Watchstone Group.
SEOUL MATES Pottery business Denby has made a comeback after winning unexpected interest in South Korea.
The 200-year-old firm was rescued out of administration by Hilco in 2009 and has since doubled annual sales to £50million.
Economy woes: The recovery faltered at the start of the year as worries about the global economy and Britain’s future in the European Union took their toll
It has now opened a site in Gangnam, the Seoul district made famous by 2012 pop hit Gangnam Style, and a third of turnover comes from overseas.
ENGINEERING OFFER One of Britain’s oldest engineering firms has been put on the market by owner Dubai International Capital.
Doncasters, a 238-year-old firm based in Burton-upon-Trent in East Staffordshire, has a £1.2billion price tag.
ECONOMY WOES The recovery faltered at the start of the year as worries about the global economy and Britain’s future in the European Union took their toll.
The Office for National Statistics is this week expected to report that output in the first quarter of 2016 rose by far less than the 0.6 per cent expansion seen in the final quarter of last year.
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- Taking a look at the E10 fuel hoping to help the UK go net zero
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With the Nokia 9 rumours and renders floating around the Internet, HMD Global seems all set to release an average priced smartphone into the market. HMD will be slowly covering almost all price bracket possible for releasing their smartphones.
The company is rumoured to launch its cheapest smartphone out to the market. Allegedly, Nokia 2 will be priced around $99 in the US. Nokia’s cheapest smartphone up to date was the Nokia 3 which was sold in the US for as less as $150, now with the launch of Nokia 2, that’s about to change.
The Nokia 2 is confirmed to release with the model number – TA-1035. As per leaks, the Nokia 2 is listed as a dual-Sim model will be available for retail at B&H for $99. The device will be launched in two colour variants, Black and white.
Talking about the display and specifications, Nokia 2 will be sporting a 5 inch HD display and is expected to be powered by the Qualcomm Snapdragon 210 chipset. The chipset is clocked at 1.27 GHz. The smartphone will be having either 1GB or 2GB Ram. As of now, there has been no statement on the amount of storage, but I think it’ll be no more than 32GB.
The device will be juiced up with a massive 4,000 mAh battery which surprisingly is more then what’s needed for a low budget device, guess HMD has some tricks up its sleeves. Nokia 2 will come with Android Nougat 7.1.1 out of the box. Some leaks show us that there are three on-screen buttons. A volume rocker and a power button on the right side of the device. Nokia 2 will sport an 8 Mega-Pixel rear sensor and a 5 Mega-Pixel front camera, of course, you can’t have dual cameras at this price range.
Recent leaks also show us that the Nokia 2’s design is quite similar to that of the Nokia 3 except for the curved edges.
As of now, there are no updates on when and where the phone will be launched. For more details stay tuned to our website. What do you think of this smartphone? Will it be a hit? Let us know down below.
Source: Telecomtalk, bgr.in
Image Source: Gadgets NDTV, India Today, Android Authority


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Happening from 5 to 8 July 2018 at the SMX Convention Center, the Travel Madness Expo 2018 is all set to bring the latest local and international tourism opportunities to all Filipino travellers!
At the forefront of the event are delegates from the Republic of Taiwan, which made it to the world’s ten must-visit travel destinations in 2017 according to a survey by a UK-based travel magazine. The country also became a top tourism destination among Philippine passport holders after the implementation of the visa-free trial late last year.
Visitors can visit the Taiwan Pavilion at booth numbers 63-66, wherein an exciting lineup of themes await such as Gourmet Food, Shopping, and Flower Harvesting. Here, you can catch the Taiwanese dance group Zero Four, who will showcase the bicycling culture, beaches and temples of Taiwan through a creative choreography.
DIY events are prepared by the Taiwan Tourism Bureau to give aspiring travellers a chance to experience Taiwanese cuisine, as well as local arts and crafts. Two of them are the Taiwan Image Biscuit Painting event and the Paper Lego “Dogs Bring Luck” event, which is completely kid-friendly.
Foodies will also feel like celebrating as there will be food tasting opportunities available at the pavilion. You can try the Homemade Aiyujelly with Lemon and Taiwanese Spicy Anchovy Rice Noodles, two culinary favourites from the Heart of Asia.
Finally, Patty Lee and Sharon Huang, the hosts of the “Fun Taiwan” show on Travel & Living Channel (TLC), will be dropping by the pavilion to have a meet and greet with their Filipino fans at 1pm on 1 July.
The Taiwan Pavilion is definitely not short on exciting surprises and activities to watch out for at the annual travel expo. By purchasing any Taiwan tourism package on site, you can even take home limited edition souvenirs courtesy of the Taiwan Tourism Bureau and TLC. If there’s a perfect time to visit Taiwan, the land of the world-renowned Taroko George, Taipei 101 and Sun Moon Lake, it is NOW!
Information extracted from a press release issued by the Taiwan Tourism Bureau.


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Carnival Cruise Line plans massive makeover of 19-year-old Carnival Triumph
A Carnival cruise ship that dates to the 1990s is about to be reborn.
The 2,758-passenger Carnival Triumph next spring will undergo a makeover so big the line plans to rechristen the vessel with a new name: Carnival Sunrise.
Announced on Tuesday, the overhaul will take place over two months at a dry dock in Cadiz, Spain, and cost nearly $200 million – one of the priciest cruise ship makeovers on record. Completed in 1999, Triumph cost $420 million to build (about $620 million in today's dollars).
"It's really a transformation of the ship, so we feel it merits the renaming," Carnival Chief Operations Officer Gus Antorcha told USA TODAY in advance of the announcement. "I think for her guests it'll feel like a new ship."
The makeover will include the addition of 115 cabins, the revamping of all existing cabins and the addition of a dozen food and drink outlets.
In the plans is the addition of a new deck-top recreation area with a suspended ropes course, basketball court and miniature golf course. The ship also will get a new water park area with two massive slides.
Carnival has undertaken a ship overhaul on this scale once before. In 2013, the line spent $155 million on a months-long, bow-to-stern makeover of its 1996-built Carnival Destiny. The ship also was renamed and now sails as the Carnival Sunshine.
Antorcha said the positive feedback the line received after the Destiny-to-Sunshine transformation was an impetus for the overhaul for Triumph.
"Guests rave about the Carnival Sunshine," he noted.
Like Destiny before its transformation, Triumph lacks the array of deck-top fun zones and interior dining and lounge concepts found on newer Carnival ships. The makeover will "put a ship into our fleet that has as many features as newer ships, and I think guests react to that," Antorcha said.
Carnival currently operates 26 vessels with several more on order.
New eateries planned for the soon-to-be-named Sunrise include Cucina del Capitano, an Italian restaurant that already is on many Carnival ships, and Carnival's signature Fahrenheit 555 Steakhouse. The vessel also will get a Guy’s Pig & Anchor Bar-B-Que Smokehouse — a casual open-air eatery created in partnership with Food Network star Guy Fieri. It's a concept just debuting on Carnival ships.
In addition, the overhaul will bring a version of Carnival's Bonsai Express sushi outlet and a new multicourse dining experience called The Chef's Table. A new poolside "lido marketplace" with sandwiches, pizza and other quick bites also is planned, and there will be an expanded version of the line's coffee bar, JavaBlue Cafe.
The transformation will include the addition of an adults-only retreat called Serenity and an expanded spa. Retail spaces will be expanded and kids areas modernized.
The dry dock work will begin March 1 at the Navantia shipyard in Cadiz and end in late April. Following a renaming ceremony, the newly christened Sunrise will sail out of Norfolk, Virginia, and New York City. It'll move to Fort Lauderdale, Florida, in October.


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WINSTON-SALEM, N.C. — Premium donuts and fewer discounts contributed to improved store-level margins in the recent year for Krispy Kreme Doughnuts, Inc. For the fiscal year ended Jan. 31, Krispy Kreme net income was $32,398,000, equal to 50c per share on the common stock, up nearly 8% from net income of $30,060,000, or 45c per share, for fiscal 2015. Revenues for the year increased nearly 6% to $518,714,000 from $490,334,000.
Still, results came in below analysts’ expectations. Krispy Kreme’s share price was down by as much as 10% in morning trading on March 23 from the previous close of $15.34.
|Tony Thompson, president and c.e.o. of Krispy Kreme|
“During F.Y.16, we made headway on a number of key initiatives,” said Tony Thompson, president and chief executive officer of Krispy Kreme, during a March 22 earnings call with financial analysts. “One of the most significant was that we were able to drive positive comp sales while pulling back on the percentage of transactions involving a discount. We are pleased with what we’ve been able to accomplish directionally. However, we still have room for improvement on delivering consistent margin performance in the company store segment.
“It is a challenge for everyone in our industry to balance the promotional activity needed to drive sales with the ability to generate acceptable margins.”
Initiatives under way at Krispy Kreme include an incentive program to drive beverage attachment and the implementation of tiered pricing on specialty and limited-time offer donuts.
“The L.T.O. premium pricing that we put in place during F.Y.16 (was) very successful,” Mr. Thompson said. “So this year, we are adding a second tier that is incorporating not only those L.T.O. donuts, but within our current donut set, a number of donuts that are at that same premium price point. So, a second tier of pricing. Then of course, we have a third tier, such as our apple fritter, that we will work on developing out longer term that is at an even higher price point.”
The company said it also plans to expand distribution of some of its grocery products into convenience and drugstore channels in the coming months.
“We are partnering with a third party for the manufacturing and distribution of our longer-shelf-life, non-yeast-based products within the convenience and drugstore channels,” Mr. Thompson said. “This arrangement will enable us to achieve national distribution within these channels over time. …we expect this to add a couple million dollars to this year’s profits.
“The bigger accomplishment here is it will help us learn as we explore other longer-term opportunities to more efficiently distribute great Krispy Kreme products and increase our reach. With fewer than 300 shops domestically, and just over 800 locations internationally, there is tremendous runway for growth ahead of us.”
Net income for the fourth quarter was $8,246,000, or 13c per share, up 26% from $6,546,000, or 10c per share, for the prior-year period. Revenues were $130,360,000, up 4% from year-ago revenues of $125,367,000.
“Company same-store sales increased slightly for the quarter and rose 2.4% for F.Y.16, marking our seventh consecutive year of same-store sales growth,” Mr. Thompson said. “Domestic franchise comps outpaced company shops, increasing 2.5% and 4.8% for the quarter and year, respectively. International franchise comps were negative, as anticipated, given the growth strategy in those markets.”
During the year, the company added 134 net new units, representing 14% system-wide growth, led by double-digit unit growth in international markets, including new country openings in South Africa and Germany.
“We also signed development agreements for seven new countries, including Bangladesh, Cambodia, Guatemala, Panama, Peru, Bolivia and Myanmar,” Mr. Thompson said.
For the year ahead, the company expects to achieve continued growth in system-wide domestic same-store sales and to open approximately 30 new domestic shops and 120 to 140 new international franchise shops.
|Price Cooper, c.f.o. of Krispy Kreme|


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Phantom further revealed
Infinium Labs mysterious console - The Phantom - stepped further into the public eye over the weekend, as it was confirmed on Friday that the fledgling manufacturer Infinium Labs would launch a preview video of the device last night: which they did.
The video was created by 2Advanced Studio and promoted by Gigex, who'll lend their considerable promotional and distributional weight behind the console's unveiling.
Having watched the video I can also report that the Phantom is more than a little ambitious - claiming to be the most powerful system available, with the largest catalogue of titles, and offering multiplayer support and games on a pay-per-play basis.
The new console will contain an Intel 3ghz CPU, an NVIDIA graphics card, over 100gb of hard-drive space (some of which will no doubt be taken up by the pre-loaded games we're promised), 256mb of RAM, networking/wireless network capabilities, and no CD/DVD drive. We're talking broadband only here folks.
Gamers will have the option of trialing games before purchasing them online, renting games, and a full online service (chat, email, news, multiplayer, contests, etc) will comes as part of the custom-built interface, based on Windows XP Embedded. The system will also be fully upgradeable.
Indeed, perhaps the biggest issue now confronting the Phantom is its pricing, given that what we're talking about is basically a high-end PC with a content delivery system bolted-on. It may be on this front that it will either thrive or fail.
We urge you to watch this video, also available at Phantom.net, for further details on this interesting machine.
Update: We've a little more information now, taken from a Gigex interview. The system will apparently cost less than $399 to purchase, with subscription to the VPGN weighing in at around $9.95 per month. The system is set to launch in the first-quarter of 2004, with titles and other specifics being confirmed at this year's COMDEX (November 17-20, Las Vegas).
- Wii U version of Project CARS may not be released
- Diversity and gay romance didn't hurt sales says BioWare's David Gaider
- Microsoft accidentally leaks a “placeholder” release date for Halo: ODST remaster
- Shipment of copies of Splatoon robbed en-route to the UK
- Mortal Kombat X not coming to PS3 and Xbox 360 in June
- Spiders' The Technomancer to debut at E3
- Dirty Bomb open beta is coming next month
- Ubisoft now emailing players to encourage them to finish their games
- Supremacy, Call Of Duty: Advanced Warfare's next DLC coming to Xbox next month with added Bruce Campbell


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When Business Insider magazine says Whole Foods should be terrified of Aldi, it is time to pay attention. An announcement by the German supermarket chain was made on January 1st. Beginning ASAP and affecting all their US stores, the following pesticides will no longer be allowed on fruits or vegetables:
What a way to start the new year!
Aldi has now become the first major retailer in Europe to ban pesticides to be known as toxic to bees from all produce in their stores. Apparently, public pressure won out again, and Germany is ahead of the curve. To-date, toom Baumarkt DIY, a German hardware-type store will no longer allow “any product that contains this endocrine-disrupting chemical concoction, and as of today, no such products can be re-ordered from their stores,” reports Natural Society. Some of the largest garden retailers in the UK, including Homebase, B&Q, and Wickes, have also voluntarily stopped selling neonicotinoids. The bees will be so happy.
If you remember, we covered the EPA’s study on how dangerous neonicotinoids are to bees. These pesticides have been proven to cause bee reproduction, navigation, and foraging issues as well as suppression of their immune systems. It would be fantastic to see the American government ban them as well, but it has yet to happen. Requests, demands, marches, wisdom — and proof from the EPA — have all been ignored.
However, we can champion Aldi. Not only has Aldi banned the pesticides, but they are also doing much, much more for their customers:
- They are expanding their organic food brands, removing some artificial ingredients from products and adding more gluten-free items.
- They have removed certified synthetic colors, partially hydrogenated oils, and MSG from their private-label products (which make up 90% of sales).
- They have expanded their sales of fresh and organic meat and produce, including the “Never Any!” brand of meats that contain no added antibiotics, hormones, animal by-products or other additives.
- The chain will also expand the SimplyNature line (which is free of more than 125 artificial ingredients) and their gluten-free liveGfree brand.
- Their milk was free of artificial growth hormones, but now its yogurt, sour cream, cottage cheese, and other dairy products will be as well.
- Lastly, they have begun to offer more high-end foods like artisanal cheeses, smoked salmon, quinoa, and coconut oil.
They became one of the world’s largest food retailers by offering low prices, and with these new decisions, they are repositioning themselves. Their prices on fresh produce and packaged goods are already around 30% lower than Walmart’s, but this makes them a force to be reckoned with. They will be able to better compete with not only Whole Foods but also Kroger.
While they currently have about 1,500 stores in the U.S., there are plans to open about 500 more stores in the next two years. Personally, I hope that it will force more stores to make these changes as well, or lose out on profits and customers.
Yes, you’ll still have to use a quarter (which you get back) to use a shopping cart when you shop at Aldi, and you’ll have to bag your groceries. Also, you will have to look at all the products displayed in their shipping cartons (this makes restocking quick and very simple). However, you’ll save a ton of money and have access to clean food for your family. I think the trade-off is more than worth it.
Erin Elizabeth is a long-time activist with a passion for the healing arts and has worked in that arena for a quarter century. Her site HealthNutNews.com is less than two years old but has already cracked the top 20 Natural Health sites worldwide. She is an author, public speaker, and has recently done some TV and film programs for some of her original work that have had international media coverage. You can get Erin’s e-book for free here and also watch a short documentary on how she overcame vax injuries, Lyme disease, a significant weight gain, and more. Follow Erin on Facebook, Twitter, and Instagram.


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Being stressful is normal, but not for long. So instead of relying on pills and other mumbo jumbos, a study revealed that there is a way to overcome your stress without you realize. What is that? Painting.
Excelling in your field? Check. Neat attire? Check. Cooperation? Teamwork? And, your decision amid problems? Despite being subtle, these subtle things, called soft skills, determine how your future at a company may be.
Indonesian Agency for the protection and placement of International Migrant Workers (BNP2TKI) on Tuesday announced the number of Indonesian workers in South Korea has multiplied in 2018, from 3,719 people in 2017 to 6,921.


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BookTalk has been a TikTok sensation, basically normal people and influencers gush over new and old books they are reading and this helps drive sales to digital and brick and mortar bookstores. This hashtag has been going strong for a number of years and has been viewed more than 64 billion times. TikTok is looking to further capitalize on the trend even further, by launching a Book Club. Each month, a new book will be announced and community members can read along, being encouraged to “share their experiences” and thoughts. TikTok will also include a special hub dedicated to the Book Club within the app, where the month’s new title will be shared. Well, since it launched last month, Amazon has announced that they are going to be sponsoring it.
Amazon said the move would enable it to extend its “That Reading Feeling Awaits” campaign, which aims to inspire a love of reading and celebrates “the invisible magic that happens inside our imaginations when we read”. As part of the campaign, Amazon created free, bespoke reading emojis and stickers to allow customers to share their love of reading across social channels. TikTok users can now access the new reading emojis by searching @amazonbooks in Stickers to express their reaction to the latest TikTok Book Club selection.
James Stafford, head of partnerships and community at TikTok, said: “It’s been amazing to see #BookTok grow into a truly global phenomenon, which is having a profound impact on the literary world. From spotlighting little-known authors and genres to introducing the classics to a new generation, #BookTok has helped to reignite a passion for literature. We are creating a new take on the #BookClub format so our community can continue to connect, spark conversations and share the books they love most.”
Lisa De Meyer, UK country manager at Amazon Books, added: ” “At Amazon, our team’s mission is to inspire reading, celebrate books of all genres and all ways of reading. We’re excited to support the #BookTok community’s love of reading and offer new visual ways of expressing that reading feeling.”
Terms of the deal were not disclosed, such as the money that Amazon is paying TikTok, but considering the two sides are doing official comments, it has to be at least a few million.
Michael Kozlowski is the editor-in-chief at Good e-Reader and has written about audiobooks and e-readers for the past fifteen years. Newspapers and websites such as the CBC, CNET, Engadget, Huffington Post and the New York Times have picked up his articles. He Lives in Vancouver, British Columbia, Canada.


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Cybersecurity researchers Piers O'Hanlon and Ravishankar Borgaonkar from Oxford University have demonstrated a new attack at Black Hat Europe 2016 that enables hackers to capture a smartphone's unique 15-digit IMSI number within a second as they walk past, and then use that number to spy on the user's movements.
The attack is possible because most smartphones in the world today are programmed to automatically connect to popular Wi-Fi networks. For example, Virgin Media runs the Wi-Fi network on the London Underground, but users can only connect to it via their operators.
So for example, let's say you are an O2 mobile subscriber, and you have set up your phone to connect to O2's Wi-Fi network, which bears the SSID name "Wifi Extra". The operator has configured your phone so that whenever your phone detects that "Wifi Extra" is in range, it will automatically try to authenticate and gain access to this network, without you needing to do anything.
Because your phone is already configured to do this, if an attacker were to put a rogue access point on a London street and renamed its SSID to "Wifi Extra", as you walked past, your phone would immediately try to authenticate, and the rogue access point could steal your phone's IMSI number immediately. As the IMSI number is a unique identifier for your smartphone, your movements could then be tracked, wherever you go.
The researchers also demonstrated a second variation of the attack whereby the Wi-Fi calling feature offered by mobile operators can be hijacked, so instead of the device connecting to make a call, instead the rogue access point can intercept the traffic from the smartphone trying to make the call and quickly extract the IMSI number in seconds as well.
Phone makers, mobile OS creators and operators must work together
Clearly this is a big privacy issue, and since government law enforcement agencies have access to databases of IMSI numbers, this attack could easily be used for mass surveillance. Unfortunately, solving the issue isn't simple and the researchers say it hasn't been fixed, so if an attacker were to set up a rogue wireless access point today, they could start collecting IMSI numbers in droves.
"I reported this to the OS manufacturers, handset manufacturers and the GSMA over six months ago. They all suffer from the same problem and ultimately a solution needs to be deployed to suit them all," O'Hanlon told IBTimes UK.
"It's not an overnight fix. it's not a vulnerability you can just patch, it requires work from the standards body level, the operator level, the handset level and the vendor level so they have support from the hardware, meaning the boxes the operators stick in their data centres."
O'Hanlon says that protocols like conservative peer pseudonym support – introduced in iOS 10 by Apple as a result of conversations with the researchers – can help to improve the overall privacy approach, but it's not enough on its own, and a better solution would be to use a security protocol called EAP-TTLS to implement cryptographic certificates on the systems that the smartphone needs to talk to.
"The mobile industry needs to work together to ensure that the users' privacy is sufficiently protected. Some of the organisations don't really see it as much of an issue, but Apple and the GSMA are taking it seriously," he stressed.
"Apple have been very keen to get this problem under control, but no one organisation can fix it, so there's a limit to what Apple can do without operators deploying it."
The mobile industry responds
Apple told IBTimes UK that it's aware of the issue and claim to have addressed it in iOS10. Apple reminds iPhone users to best protect themselves by making sure they are using the latest version of the mobile operating system and avoid joining untrusted networks.
A Google spokesperson said: "Because this issue affects all mobile platforms, we're working closely with partners across the mobile ecosystem to develop mitigations and protect users, regardless of the devices they use. "
The GSMA says that it is aware of the research, but it cautions that the research concerns only specific authentication mechanisms over Wi-Fi.
"Current internet standards ensure that the network identifier can be protected using temporary identities. This protection was already available on the network side and is now being rolled out in mobile devices," a spokesperson told IBTimes UK.
"The GSMA welcomes positive research that identifies and pinpoints implementation issues that can be fixed and that results in enhanced security levels and ongoing user confidence in mobile services, and we appreciate that the researchers were able to share their research at a meeting of the Fraud and Security Architecture Group in late September."
UK mobile operator O2 says that it is aware of the research and is protecting its customers by issuing temporary identities during authentication through current internet standards. "We take privacy of our customers seriously and we are working closely with industry partners to improve the authentication process," an O2 spokesperson told IBTimes UK.
Despite the GSMA saying that a fix is now being rolled out on mobile devices, there isn't a consensus in the mobile industry about which solution should be used. O'Hanlon said that there are a range of potential solutions to address the issue, but each solution comes with its own complexities that could cause problems for the user or the network.


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Open App Store principles
Brad Smith, President and Vice Chair of Microsoft in his post on the company blog:
Today we’re announcing a new set of Open App Store Principles that will apply to the Microsoft Store on Windows and to the next-generation marketplaces we will build for games. We have developed these principles in part to address Microsoft’s growing role and responsibility as we start the process of seeking regulatory approval in capitals around the world for our acquisition of Activision Blizzard. This regulatory process begins while many governments are also moving forward with new laws to promote competition in app markets and beyond. We want regulators and the public to know that as a company, Microsoft is committed to adapting to these new laws, and with these principles, we’re moving to do so.
Microsoft is definitely getting ahead of pending fears from regulators about their Activision Blizzard acquisition with this announcement, but it also helps to distance themselves from the recent actions of Google and Apple. Apple has shown these past few weeks that they are sticking to a hard line, and almost daring the government to regulate them. Nobody can say that they will bend easily. Meanwhile Microsoft is implementing much of the assumed changes that would be asked of them in the near future and helping to ensure the FTC doesn’t put the kibosh on them becoming the third largest gaming company in the world.
As we’ve said on other occasions, we recognize that the emerging new era of tech regulation brings with it both benefits and risks, not just for a single company but for our entire industry. As others have pointed out, there are risks with any new regulation, and these deserve a fair hearing and thorough consideration. But as a company, we continue to be more focused on adapting to regulation than fighting against it. In part this is because we have been adapting for two decades to antitrust rules, and we’ve learned from our experience. While change is not easy, we believe it’s possible to adapt to new rules and innovate successfully. And we believe it’s possible for governments to adopt new tech regulation that promotes competition while also protecting fundamental values like privacy and national and cyber security.
Calling out the stance of Apple and Google while simultaneously making it known that the US government really doesn’t understand the industry well enough at this point in time to regulate it correctly either. A well executed statement that underscores the immediate anxiety that comes with considering how easy it could be for our lawmakers to really fuck this up big time for consumers.
Just as Windows has evolved to an open and broadly used platform, we see the future of gaming following a similar path. Today 2.8 billion consumers worldwide, including more than 190 million Americans, play games, and we expect the global number will reach 4.5 billion by 2030 as new generations turn to gaming for entertainment, community, and a sense of achievement. Our vision is to enable gamers to play any game on any device anywhere, including by streaming from the cloud. App stores on the most relevant and popular everyday devices like mobile phones; PCs, including Windows PCs; and, in time, the cloud, are important to realizing this vision.
Microsoft under Satya Nadella has certainly made a huge change of course in that the platform doesn’t have to be Windows, the focal point is no longer Windows everywhere. As long as the company has a presence it has a stake in the game, and a wider revenue net to throw regardless of who the hardware vendor is.
But too much friction exists today between creators and gamers; app store policies and practices on mobile devices restrict what and how creators can offer games and what and how gamers can play them. Our large investment to acquire Activision Blizzard further strengthens our resolve to remove this friction on behalf of creators and gamers alike. We want to enable world-class content to reach every gamer more easily across every platform. We want to encourage more innovation and investment in content creation and fewer constraints on distribution. Put simply, the world needs open app markets, and this requires open app stores. The principles we’re announcing today reflect our commitment to this goal.
Put even more simply, Apple doesn’t allow video game streaming services like Microsoft’s Xbox Game Pass on their App Store so please regulate the industry so that Apple has no choice but to provide us a native app presence. Netflix, Amazon Prime, Hulu, etc. are all allowed on the App Store but not Game Pass. It would be interesting to hear Apple try and explain why game streaming services aren’t allowed. I cannot think of a single good reason outside of Apple feeling as though they aren’t making enough money from the arrangement and that definitely will not fly with regulators.
You can click through and read the entire post for all of their stated commitments, but number 10 really stood out to me when considering the recent news cycle:
We will not disadvantage developers if they choose to use a payment processing system other than ours or if they offer different terms and conditions in other app stores.
In short; please allow our acquisition, and Google and Apple aren’t being fair to developers and consumers. Microsoft is definitely showing commitment to bolster openness on their platforms, but there are still discrepancies when it comes to their gaming ecosystem. Pending government involvement that forces similar changes to Google’s Play Store and Apple’s App Store would ultimately benefit Microsoft’s bottom line. That is a very key takeaway when considering the why of their strong stance in favor of regulation.


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Evolving to better transform and benefit the larger value chain, from producers to consumers
VANCOUVER, British Columbia, July 26, 2022 (GLOBE NEWSWIRE) — TELUS is broadening its business strategy to deliver data insights and a wide range of integrated digital solutions to customers beyond the agricultural sector, and changing the name of its agriculture unit to TELUS Agriculture & Consumer Goods as a signal of its commitment. Rapidly growing its assets and capabilities since its launch nearly two years ago, the newly rebranded unit is now well positioned to connect participants across the entire value chain, from seed growers to food and consumer goods retailers, and enable them to make sound, agile, data-driven business decisions to minimize costs and waste. Leveraging the latest technology, the industry expertise of its global team, artificial intelligence and TELUS’ Internet of Things (IoT) capabilities, TELUS Agriculture & Consumer Goods aims to vastly improve the way food and other goods are produced, distributed and consumed, and how these processes impact net profitability and consumer value, with a view to alleviating unnecessary strain on our natural resources. Currently, more than one in five TELUS Agriculture & Consumer Goods customers are manufacturers of packaged foods, beverages and products that include everything from cosmetics to bakeware and batteries.
“At TELUS, we are proud to direct our human and technological innovation toward answering some of the most significant social challenges facing our world. This includes ensuring global access to a nutritious food supply that is safe, secure and connected, whilst at the same time, helping to effectively manage the disconcerting amount of goods that never end up in the hands of consumers due to waste, spoilage, quality issues and inaccurate forecasting,” said Darren Entwistle, President and CEO of TELUS. “Through our expanded TELUS Agriculture & Consumer Goods business, our team is committed to leveraging our technology-driven efforts to optimize the production of food and consumer goods in a manner that is more sustainable and environmentally friendly. Together, we are caring for the planet for future generations, and improving outcomes for citizens and families around the world.”
Pre-consumer waste presents a host of significant issues, notably as it piles up in the world’s increasingly overburdened landfills, which are among the largest sources of greenhouse gas emissions. It’s estimated that at least one third of food alone is lost or wasted globally before it reaches shopping baskets. By tackling the agriculture and consumer goods industries’ complex data harmonization and management challenges, and putting data to work generating real-time actionable intelligence, TELUS Agriculture & Consumer Goods is making it easier for value chain participants to collaborate and enhance processes, allowing them to adapt more swiftly to evolving consumer preferences.
“Our solutions digitize and optimize key business functions along the entire value chain, from production to trade promotion management, improving efficiency and profitability. We believe that by better connecting these solutions and using the data insights that they offer, we can create more value for the entire value chain. At the same time, we can improve the safety, quality and sustainability of food and other goods, all in a way that is traceable and clear to the end consumer,” says John Raines, President of TELUS Agriculture & Consumer Goods. “TELUS Agriculture & Consumer Goods is the largest, independent data insights and digital technology player in this sector, and our new name captures the breadth of the market we now serve.”
TELUS Agriculture’s expansion has included the addition of a series of assets to the business unit’s unmatched and growing portfolio, namely Blacksmith Applications in 2021. The U.S.-based company is a leading provider of trade promotion management, optimization and analytics (TPx) solutions for consumer packaged goods manufacturers and retailers. With a presence on five continents, the TELUS Agriculture & Consumer Goods team now works with six of the 10 top food and beverage suppliers and nine out of the 10 largest agriculture companies in the world.
About TELUS Agriculture & Consumer Goods
TELUS Agriculture & Consumer Goods is a leading global technology provider delivering data insights and digital solutions to agriculture, food and consumer goods customers in 60 countries with a view to creating better producer-to-consumer outcomes. Backed by a global team of 1,600 experts across Canada, the United States, Mexico, Brazil, the United Kingdom, Slovakia, Armenia, Germany, China, and Australia, TELUS Agriculture & Consumer Goods offers a growing list of integrated solutions for analytics, data, supply chain, trade promotion, farm and livestock production management. By leveraging technology and data, TELUS Agriculture & Consumer Goods is creating a unified, trusted and sustainable value chain to enable more efficient production and logistics, while lowering the impact on the environment, to progress its vision of transforming supply chains and making the future friendly.
For more information please visit telus.com/agcg and follow @TELUS_AGCG on Twitter and TELUS Agriculture & Consumer Goods on LinkedIn.
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications technology company with $17 billion in annual revenue and 17 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security. Our social purpose is to leverage our global-leading technology and compassion to drive social change and enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. The numerous, sustained accolades TELUS has earned over the years from independent, industry-leading network insight firms showcase the strength and speed of TELUS’ global-leading networks, reinforcing our commitment to provide Canadians with access to superior technology that connects us to the people, resources and information that make our lives better.
TELUS Health is Canada’s leader in digital health technology, improving access to health and wellness services and revolutionizing the flow of health information across the continuum of care. TELUS Agriculture & Consumer Goods is a global technology provider of innovative data insights and digital solutions, creating a unified, trusted and sustainable value chain. TELUS International (TSX and NYSE: TIXT) is a leading digital customer experience innovator that designs, builds, and delivers next-generation solutions, including AI and content moderation, for global and disruptive brands across high-growth industry verticals, including tech and games, communications and media and ecommerce and FinTech. TELUS and TELUS International operate in 28 countries around the world.
Driven by our determination and vision to connect all citizens for good, our deeply meaningful and enduring philosophy to give where we live has inspired TELUS, our team members and retirees to contribute more than $900 million, in cash, in-kind contributions, time and programs, and 1.8 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world. Together, let’s make the future friendly.
TELUS Public Relations


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Samsung Powers the 2016 Olympics Experience in Virtual Reality
Wednesday August 17, 2016
The 2012 Summer Olympics in London was the most watched television event in history. In fact, 219.4 million viewers tuned in from America alone. Every year, hundreds of millions use their TVs, tablets and smartphones to view the peak of athletic competition; however, only a fraction get the opportunity to experience it firsthand. This year however, that is about to change thanks in large part to Samsung.
National broadcaster, NBC, is hinting at plans to capitalize on the virtual reality technology being developed for smartphones, by incorporating it into their Olympic coverage in Rio, Brazil. NBC‘s plan revolves around Gear VR, the virtual reality headset developed by Samsung in collaboration with Oculus. Owners of Samsung’s headset will receive exclusive access to over 85 hours of virtual reality content, accessible through the NBC Sports app for Android.
What Virtual-Reality Viewers Will See
All the key moments from the Rio 2016 Olympic Games will be shown in full 360-degree HD virtual reality, allowing true fanatics and casual fans of the games to fully immerse themselves in all the action. Just by using the Gear VR and a compatible Samsung smartphone with the NBC Sports app, viewers will be transported right into the heart of the action, providing them with a thrill that only few are able to experience.
The list of virtual reality coverage includes:
- The opening and closing ceremonies
- Men’s basketball
- Track and field
According to Tech Crunch, all the virtual reality content will be streamed on a delay of about one day, as the games occur. NBC will be releasing virtual reality-enabled highlight reels for everyone to stay up to day on the action. The Rio opening ceremony is set to begin Friday, August 5 and available to for virtual reality streaming, 24 hours later.
On top of introducing this new virtual reality format, NBC will also stream more than 4,500 hours of content once the games begin. With updates and exclusive content available exclusively through the NBC Sports app, the network is doing everything possible to create what many are calling “most live Olympics ever.”
According to Samsung, who happens to also be the official Smartphone partner for the Summer Olympics, the list Gear VR compatible devices include: The Galaxy S7, Galaxy S7 Edge, Galaxy S6, Galaxy S6 Edge, Galaxy S6 Edge+, Galaxy Note 5, Galaxy Note 7.
Beyond the Games
There is very little doubt in the minds of most people that virtual reality will only grow and forever change how people experience entertainment. Samsung is clearly one of the leaders anticipating this transition and providing the technology that enables future growth. This forward-thinking perspective and proactive approach to developing technology is a major reason why Cartridge World has partnered with Samsung to develop PrintWorld™, a mobile app that provides consumers with true mobile printing capabilities.


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The CEO of Hiscox had said the firm’s investment performance and its decision to balance its international activities with retail products has enabled it to weather the costs of a series of storms in 2019.
Bronek Masojada, (pic) was speaking as the company announced its annual results for 2019 which saw its pre-tax profits fall to $53.1 million from the 2018 figure if $135.6 million.
The firm reported gross premiums written were up by 8.1% in constant currency, despite “disciplined action to reduce $200 million in underperforming lines”.
However, the group combined ratio was 105.7% compared to the 94.5% figure with group profits impacted by large catastrophe events. It has reserved $165 million for Hurricane Dorian and Typhoons Faxai and Hagibis, in addition to $25 million of reduced fees and profit commissions.
However it was a different story in retail. Profits for Hiscox Retail increased by 22% to $178.4 million, with a combined ratio of 98.7%,
Investment returns increased significantly to $223 million compared to $38.1 million for the previous 12 months.
“Our strategy of balance, between big-ticket lines and our more steady retail earnings, provides resilience and opportunity,” said Mr Masojada. “Our growing retail profits and strong investment return has enabled us to weather a third consecutive year of storms. We are investing for growth as we look to capture the many opportunities we see ahead.”
Looking too the months ahead Hiscox said it was too early to estimate the impact of Coronavirus.
“The main areas of potential exposure for Hiscox are event cancellation, travel and personal accident cover and we have received notifications of small claims to date,” said the firm. “Pandemic is covered in a very small part of the portfolio where we have very controlled net exposure.”


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Investment into the African tech startup ecosystem passed the US$3 billion mark for the first time in 2022, with the space withstanding global economic headwinds to post a record year. This is according to the eighth edition of the annual African Tech Startups Funding Report released by startup news and research portal Disrupt Africa, which is available free to all as part of an open-sourcing initiative in partnership with Flat6Labs, MarketForce, 4Di Capital, Mercy Corps Ventures, Newtown Partners, and InsiderPR. The report tells the story of an impressive 2022 in which more startups raised more funding than ever before, in spite of a global downturn in investments, especially in riskier asset classes such as venture capital. Nigeria, Egypt, South Africa and Kenya remain Africa’s “big four” from a funding perspective, yet they secured a smaller share of total funding between them than in 2021, with startups from more African countries than ever before securing investment. Nigeria remained the undisputed leader, however, with 180 startups raising a combined US$976,146,000. Though Nigeria and the rest of the “big four” remain clear leaders, there is still plenty of activity elsewhere on the continent, with startups backed in 27 African countries.
Africa’s Tech Sector Remains Source of Global Investment
- AFRICA TOP 10
- 1 min read


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The owners of IPL Franchises Kolkata Knight Riders and Delhi Daredevils decided to grab the franchises in South Africa Global T20 League. At the same time two franchise owners of Pakistan Super League (PSL), Peshawar Zalmi and Lahore Qalandars also shown interest in this brand new T20 League and bought franchises.
Apart from these four owners, two South African businessmen and businessmen from Hong Kong and Dubai also grabbed the ownership of franchises in this eight franchises T20 League.
Cape Town, Durban, Benoni, Bloemfontein, Johannesburg, Stellenbosch, Pretoria and Port Elizabeth are the cities which hosts the brand new franchises based Global T20 League in South Africa.
Knight Riders brand already owns T20 teams in both Indian Premier League (Kolkata Knight Riders) and Caribbean Premier League (Trinbago Knight Riders), now owns their third franchises as they bought the ownership of the Cape Town franchise. Bollywood Superstar Shah Rukh Khan, a major shareholders on Knight Riders brand made an announcement with lots of proud. The owners of Delhi Daredevils – GMR Sports bought the Johannesburg franchise.
Franchise owners of PSL teams Lahore Qalandars and Peshawar Zalmi bagged the rights of Durban and Benoni based franchises respectively. The owner of Qalandars Fawad Rana bagged the Durban franchise and Javed Afridi, the owner of Zalmi now owns Benoni Franchise.
South African businessman Osman Osman who are the owner of lifestyle brand bagged the Pretoria based franchise and the other businessman from the country owns the franchises which based on Stellenbosch. The name of the owner of that franchise is Mushtaq Brey.
The businessmen from Hong Kong and Dubai also bagged franchise each and they owns Bloemfontein and the Port Elizabeth franchises respectively. The owner of Bloemfontein franchise is Sushil Kumar from Hong Kong, meanwhile Port Elizabeth franchise owns by Dubai’s Ajay Sethi.
Cricket South Africa also unveiled eight former South African national players as brand ambassadors. Former captain Graeme Smith, Ashwell Prince, Herschelle Gibbs, Paul Adams, Andrew Hall, Andrew Hudson, Allen Donald and Paul Harris are those former players who going to work as a brand ambassadors.
The Global T20 League planned to play on every South African summer and the first grand season will be played later this year. The marquee South African players were announced in April and now they assigned to their respective teams for the first two seasons of the tournament.
The captain of South Africa’s ODI and T20 sides, AB de Villiers went to Pretoria franchise while, Stellenbosch bagged the service of test captain Faf du Plessis. The hard hitting middle-order batsman David Miller has announced as the marquee player of Bloemfontein and the no. 1 leg-spinner Imran Tahir named as Port Elizabeth’s marquee player.
The successful openers of South African team Hashim Amla and Quinton de Kock will be the face of Durban and Benoni franchises respectively.
JP Duminy who plays for Delhi Daredevils in the IPL, gone to Knight Riders camp in this tournament as he named as marquee player of Cape Town franchise. But GMR sports hold their another South African player who played his first ever IPL season for Delhi Daredevils earlier this year, Kagiso Rabada as a face of Johannesburg franchises.
“The announcement of the team owners is a key milestone to successfully launch our T20 Global League,” said Haroon Lorgat, Chief Executive of CSA. “We are thrilled by the international mix of owners and the passion and excitement that was clearly demonstrated during the bidding process by them and the marquee players. It sets up our #T20GL as a fans favourite in the cricketing calendar.”
SA Global T20 League’s first ever draft process will take place in coming August. Around 400 players have shown their interest to be the part this brand new T20 League and the auction will be held on August 19, announced by Cricket South Africa.
|Franchise City||Owners||Marquee player|
|Durban||Fawad Rana||Hashim Amla|
|Benoni||Javed Afridi||Quinton de Kock|
|Pretoria||Osman Osman||AB de Villiers|
|Stellenbosch||Mushtaq Brey||Faf du Plessis|
|Cape Town||Shah Rukh Khan||JP Duminy|
|Bloemfontein||Sushil Kumar||David Miller|
|Johannesburg||GMR Sports||Kagiso Rabada|
|Port Elizabeth||Ajay Sethi||Imran Tahir|
One more T20 League comes on our way to give lot more excitement and make all fantasy players excited. We will come with further news soon..
Cricket is what everyone loves. If you’re ready to play fantasy cricket but don’t know how to analyze players, consider his Articles as the foundation of your fantasy teams. Anand is a cricket blogger and fantasy cricket lover.


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Tesla reaches annualized production rate of over 1 million EVs towards end of Q3 2021
American electric vehicle manufacturer Tesla Motors has announced that it reached an annualized production rate of more than 1 million EVs in third quarter (Q3) of 2021, thanks to increased production of Model Y crossover utility vehicle (CUV) at the Shanghai factory.
Making the announcement about the company’s incredible milestone, Chief Financial Officer (CFO) Zach Kirkhorn said that the great progress was made possible by increased production volumes of the Model Y as well as the Model S.
Speaking on the topic, Kirkhorn said, “We were also able to achieve an annualized production run rate of over 1 million cars towards the end of the quarter. The increase in production rate has primarily been driven by further ramping of the Model Y at our Shanghai factory. Additionally, we have made great progress increasing production volumes of Model S.”
The ramped up production and deliveries of the Model X also played a crucial role in the helping the EV giant in hitting the production milestone of over 1 million EVs toward the end of the last quarter.
The company’s Q3 financial results are also very impressive. It marked Tesla’s ninth profitable quarter in a row, and the company declared a profit of $1.86 per share. Strong financial results would obviously have not been possible without strong deliveries. A record 241,300 EVs were delivered to customers during the July to September quarter. The figure represents growth 20 per cent quarter-over-quarter and 70 per cent year-over-year.
Kirkhorn noted that the transition of the company’s gigafactory in Shanghai as its main export hub was also a key factor contributing to the new annualized EV production milestone.
The top financial executive, however, also noted that the company continued to face big challenges due to worldwide shortage of some key components, such as semiconductor chips. Moreover, issues related to logistics also kept harassing the company.
In spite of all those issues, the CFO went on to say that the EV giant would be able to maintain its goal to grow at an average rate of 50 per cent per annum. It looks quite feasible for the next year as Giga Texas and Giga Berlin manufacturing plants are all set to start production. There is a great room for growth as these two mega factories has a capacity to produce as many as 10,000 EVs per week.
New Zealand News
- Porsche reportedly developing electric version of 718 sports car
- Tesla Model Y Performance becomes little bit more expensive to order in China
- Porsche’s recently unveiled Mission R Concept previews electric race cars of future
- Chinese manufacturer GAC’s Aion V e-SUV can charge 0-80% in just 8 minutes
- Plug-in cars’ share grows to 32% in Netherlands in September 2021
- Italian motorcycle racer Valentino Rossi enters e-bike business with VR46 MTB range
- Micro Mobility shows off production version of Microlino 2.0 and 3-wheeled e-scooter
- Chinese electric motorcycle maker Evoke Motorcycles to set up shops in Spain


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Bt cotton seed price cut to Rs740 per packet
Agriculture ministry slashes price of Bt cotton seeds to Rs740 per packet weighing 450 grams from Rs800 earlier, a move that will benefit over 8 million cotton growers in India
New Delhi: In a move that will benefit over eight million cotton growers in India, the agriculture ministry late on Monday slashed the price of genetically modified Bt cotton seeds to Rs740 per packet from Rs800 per packet earlier.
The ministry also reduced the trait or royalty fees payable by domestic firms to technology developer Mahyco Monsanto Biotech (India) Pvt. Ltd to Rs39 per packet from Rs49 earlier. A packet of Bollgard II Bt cotton seeds weighs 450g.
The new prices will come into effect from the forthcoming kharif crop season beginning in June. Last week, Mint reported on the likely government move to offer some respite to cotton farmers battered by repeated pest attacks and crop losses.
The domestic seed industry pegs the losses arising out of the price cut at around Rs300 crore, as 50 million cotton seed packets are usually sold in a year. Falling margins in cotton seed production will definitely impact seed supply and availability for farmers, said Kalyan Goswami, director general of industry lobby National Seed Association of India.
In March 2016, the agriculture ministry, on the recommendation of a nine-member panel, slashed prices to Rs800 per packet, compared with Rs830-1,000 charged earlier—and cut royalty fees sharply by over 70%. Last year, prices were kept unchanged.
“The latest price cut and reduction in royalty fees is a huge setback for responsible research-based seed companies who will be demotivated to spend on R&D,” said Ashwani Yadav, executive director of Federation of Seed Industries of India, a lobby of research-focused seed firms.
India approved genetically modified Bt cotton for commercial cultivation in 2002. Following the introduction of Bt cotton and its efficacy in resisting bollworm pest attacks, India became a leading exporter of cotton globally. However, in recent years, Bt cotton fields have seen repeated pest attacks and crop losses—in Punjab in 2015 and in Maharashtra last year.
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text: More details were recently revealed about Max Raid Battles and the Wild Area, new features in the highly anticipated games, Pokémon Sword and Pokémon Shield. A new Gym Leader and Poké Ball Plus compatibility with the games were also announced. The newest additions to the main series of the Pokémon role-playing video game franchise, Pokémon Sword and Pokémon Shield will be launching November 15, 2019 exclusively on Nintendo Switch. Pokémon HOME only allows you to transfer Pokémon that appear in the Galar Pokédex for Pokémon Sword and Shield. In a recent interview with USgamer, Game Freak talked about why this is the case and a number of other topics. However, in a new issue of Famitsu, Junichi Masuda says that his team has not yet decided on whether they should include Pokémon that don’t appear in the Galar Pokédex. Famitsu has also revealed that Game Freak chose not to include Mega Evolutions and Z-Moves in Pokémon Sword and Shield. Instead, the new feature that is being focused on is Dynamax.


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There are some wars between corporations in the computer industry that are almost epic, for example Apple vs Microsoft or IBM vs Dell. This is also the case between Facebook and Google as with the latest report from the daily beast there is no cease-fire. As it appears Facebook hired a public relations team not to polish the company’s image but to smear the image of Google by planting a series of false or exaggerated news over the internet. The whole story broke loose when a blogger that was contacted by the PR firm blew the whistle and everything came to the surface. USA today actually spotted the whole story and made it public.
Read more on an excellent and detailed article by Dans Lyons on the daily beast here.
Source: USA Today


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Amazon’s share prices have topped $2000 (£1536) for the first time in its history, as the ecommerce giant edges ever closer to the coveted $1 trillion ($768.2 billion) mark.
Earlier this week Morgan Stanley raised Amazon’s price target to $2500 (£1920), which sent its share prices jumping 3.4 per cent on Wednesday and a further 0.6 per cent on Thursday.
This lifted its market value to $975.8 billion (£749.4 billion), hot on the heels of Apple which became the first public US company to hit $1 trillion ($768.2 billion) earlier this month.
The influential bank said that it has “increasing confidence that Amazon’s rapidly growing, increasingly large, high margin revenue streams (advertising, AWS, subscriptions) will drive higher profitability and continued upward estimate revisions”.
For the year to date Amazon’s share prices have already increased 70 per cent.
Jeff Bezos, the founder and chief executive of Amazon, currently owns 78,885,140 shares in his company, equating to 16.2 per cent of its total outstanding shares.
If and when Amazon hits the $1 trillion ($768.2 billion) mark, Bezos’ stake would be worth $161.74 billion (£124.34 billion), keeping him comfortably at the top of Forbes’ rich list.


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By Kevin Prentice
Project Loon. That’s the name of Google’s new project, their idea to include those deprived of internet with that sweet luxury. Google plans on connecting these areas together by balloon technology, interconnected and beaming information from one balloon to another from the stratosphere.
Google has the utmost confidence in their new project saying “these balloons can deliver widespread economic and social benefits by bringing internet access to the 60% of the world’s people who don’t have it.”
Each balloon has a boxy gondola, used for internet access, with solar powered electronics. To communicate they use radio links, telecommunications network and beam down cellular internet, like those you’d use on your cellular provider to get on Facebook or Twitter. The balloons are made by fashion industry seamsters and some supplies found at a hardware store.
Mike Cassidy, the project’s leader, said, “The technology is now sufficiently cheap and reliable for Google to start planning how to roll it out.” Confident in his creations, Cassidy wants to have enough balloons ready to go by the end of 2015 for testing in several parts of the southern hemisphere.
Cassidy also says that even though Facebook is working on internet delivered by drones, his balloons will be able to hold their own. The drones and satellite competitors are a bit behind Project Loon, plus it’s pricier to launch satellites or power and build drones.
“For a long time balloons will have a big cost advantage,” says Cassidy. Those working on Project Loon are sure that the project will serve the good of the world. Cassidy, speaking with confidence said, “This is a way of changing the world.”


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Cara Delevingne and Puma have made a yoga collection you can feel good about buying. The Exhale Collection is made of eco-friendly materials, including 70 percent recycled polyester, and fully offsets any unavoidable emissions.
“Yoga is one of my biggest passions, it has impacted my life in such a positive way. When PUMA approached me about partnering to create a yoga line, I was thrilled,” Delevingne said in an official statement. “We both are very focused on the environment, that is why it was important to design a collection with minimal impact. This creates a more meaningful impact on our mind, body, and practice; allowing us space for peace and tranquility to simply exhale.”
The debut collection, featuring sports bras, crop tops, knit tops, and a biker unitard, is on sale now with prices ranging from $55 to $100. The second drop is expected available at the beginning of April.
Delevingne has been a longtime ambassador for the global sportswear brand. The partnership was announced back in 2016 and since then, she’s collaborated with Puma on a slew of collections, including one with Balmain, a special Pride release to support the LGBTQ+ community, and more.
Check out photos from the campaign starring Delevingne, below, and shop the collection over on Puma’s website just in time to have some refreshed yoga gear for Earth Day.


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It’s been announced via the PlayStation Twitter account that PS5 exclusive Returnal has been delayed. Originally set to launch on March 19, the psychological horror bullet-hell shooter will now be releasing on April 30, 2021.
The delay is a fairly short one that’s being implemented to allow for further polish, according to the statement. This will easily be developer Housemarque’s biggest title to date, having previously created the smaller, yet brilliant Resogun and Matterfall. Hopefully the new release date gives the team enough time to get the game to where they want it to be and that no further delays are necessary.
Update: Returnal has a new release date of April 30, 2021. SIE and Housemarque have made the decision to move the release date in order to give the team extra time to continue to polish the game to the level of quality players expect from Housemarque.
See you in April! pic.twitter.com/xb6IBWJ5TQ
— PlayStation (@PlayStation) January 28, 2021
Are you excited for Returnal? Are you a fan of Housemarque’s previous games? Let us know.


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After falling in April, inflation picked up once more in May, potentially harming crypto markets that are still struggling from the Federal Reserve’s stricter monetary and fiscal policy.
The Consumer Price Index (CPI) increased by 8.6% in the year starting in May last year and ending in May 2022, the biggest 12-month gain since December 1981, according to the Labor statistics bureau.
Food, shelter, and fuel accounted for the highest monthly increases in the CPI, a market index that analyzes changes in a wide variety of products and services. Monthly, the energy index rose 3.9 percent after dropping in April. In May, the power index grew by 1.3 percent, suggesting that electricity prices have risen by 12 percent in the last year, raising the cost of Bitcoin mining.
Mining may become more costly and less lucrative as energy costs rise, according to Jason Schenker, senior economist of Prestige Economics. In terms of cryptocurrency in general, he doesn’t believe that people are flocking to much more defensive assets, which would not benefit crypto.
If the Fed continues to raise interest rates aggressively, investment banks may be enticed out of the crypto space in favor of less risky options such as treasuries and securities. The values of most virtual currencies would suffer if there was a selloff.
Crypto Market Drops
At the same time the Bureau of Labor Statistics report was released, the larger cryptocurrency market took a knock. As per CoinMarketCap, Bitcoin has dropped 4.2 percent, while Ethereum has dropped almost seven percent in the last 24 hours.
Other cryptocurrencies were impacted worse, notably Avalanche (down 10%), Solana (down nine percent), and Cardano (down nearly 11% in the last day).
We’ve already observed a slowdown in institutional investment, and this trend is expected to continue IntoTheBlock, a data science firm focusing on cryptocurrency markets, has a head of research named Lucas Outumuro. Bitcoin has not shown to be an efficient hedge against inflation as many had hoped, despite the fact that this was one of the primary narratives propelling it ahead last year. Today’s market action, however, shows Bitcoin falling much less than Nasdaq and S&P 500; if this pattern continues, institutions may reconsider its attitude.
Inflation is driving people to be more careful with their finances, particularly those with lower incomes who spend a larger amount of their budget on essentials such as food and housing. Budget cuts may have a negative impact on the demand for digital resources.
The Fed is treading carefully as it raises interest rates, making borrowing more costly in an effort to chill consumer consumption and the economic system. If they increase interest rates too quickly, the economy could enter a recession, and the current report provides them less breathing room.
Higher borrowing rates make it more expensive for most companies to expand, which has a significant influence on IT company growth. As per a report issued in April by Arcane Research, the value of Bitcoin has now become predominantly intertwined with the value of tech stocks listed on Wall Street. According to statistics provided by blockchain analytics firm Chainalysis, this tendency has maintained throughout June.
How External Factors Are Affecting Crypto
To sum things up, cryptocurrency is no longer a stand-alone phenomenon. It has been increasingly intertwined with the world as we know it as more and more countries and organizations begin to accept crypto as a legitimate form of currency. As such, established financial principles such as inflation and hikes in energy prices are all impacting the once solitary giant that was cryptocurrency.
Bitcoin miners – who account for a large portion of the total Bitcoin market capital – are being faced with hikes in energy prices alongside various fiscal regulations, which are severely affecting their profitability and efficiency. By connecting the dots, it becomes clear that various issues in the world, such as a possible recession and exorbitant energy price hikes, as a result of Russia’s endeavors have crept their way into the crypto space.
The Bottom Line
Various financial indicators and experts, along with evidence of major cryptocurrencies struggling to climb back to their former heights emphasize just how seriously crypto investors have to be about investing huge amounts of money, specifically those looking to hedge inflation.
WeInvests is a financial portal-based research agency. We do our utmost best to offer reliable and unbiased information about crypto, finance, trading and stocks. However, we do not offer financial advice and users should always carry out their own research.Read More


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EghtesadOnline: New electricity tariffs for heavy consumers will start at the end of this Iranian month (June 21).
After parliament rejected a government proposal to raise tariffs for subscribers across the board, the government made changes to the bill and it was finally ratified by the Majlis, and came into effect from May 22, the Persian-language economic newspaper Donya-e-Eqtesad reported.
As per the new rules, electricity tariff will increase by 23% for consumers who do not comply with the announced patterns from June to September, when both the temperature and power consumption rise phenomenally.
The Energy Ministry says close to 80% of consumers are in the average 300-kilowatt hour bracket per month, which is set as a basic consumption model. Consumers in this category will be eligible for a discount in their billing if they consume less electricity in the four months compared to the same period a year ago, according to Financial Tribune.
The new regulations target the remaining 20% heavy consumers who apparently could be compelled to rethink their consumption patterns or get hit in the pocket.
Revenues generated by the hike in tariffs will be used to replace traditional electric meters with smart meters that ensure accurate billing as they digitally send meter readings to utilities without any human involvement. Smart meters also have monitors so users can better understand their energy use and adjust if necessary.
Part of the new revenue will also be spent on reducing waste by improving and optimizing power distribution networks.
One key reason, experts say, why big consumers are often indifferent to repeated government appeals for judicious use is that electricity prices are too low compared to many countries.
Power generation costs, including production and transmission, is 2 cents per kilowatt-hour while electricity is sold at 0.7 cents per kWh now.
Data released by the Energy Ministry show among 200 countries, Iran sells the cheapest power after Egypt, Kuwait and Myanmar.
Water, electricity, gas and gasoline are subsidized in Iran and successive governments have said that the prohibitive subsidies are not sustainable. The entire concept of subsidies has come under a very big question mark for years with proponents and opponents floating ideas and views that are poles apart.
The country's current installed power capacity is 81,000 megawatts but a lot less is produced, especially in the hot season, due to water shortage in hydroelectric dams, wastage and technical problems.
Last year was one of the driest in half a century, and the country faced problems with supplying electricity in all sectors. Therefore, the government set out to find a workable solution.
One plan called for revising tariffs for heavy consumers. Other programs included changing working hours of state organizations and replacing 10 million fluorescent lamps in state bodies with the energy-efficient LED light bulbs.
Official data has it that while development of technology has led to a 4.5% growth in power consumption across the world, Iran's rate is 3.5 times over and above the global average. Average global electricity consumption rises by up to 3% per annum, but demand in Iran jumps to almost 10% every year – a development that economists say could turn into a crisis if not checked sooner rather than later.
Not Too High
Although with the new rule the government intends to control consumption during the hot summers, the mere 23%-rise does not seem to be too high for consumers who have no problem paying something extra and living in the comfort of coolers 24/7.
For example, if a heavy consumer had to pay 7 million rials ($50) last month, with the same amount of consumption, they will be charged 8.6 million rials ($61.4) in the next bill.
Apparently, it would not be any burden for those who have been visibly neglectful of their high consumption to pay an additional $11.4!
Energy expert Alireza Daemi believes that as far as heavy consumers do not pay the real price of the electricity they use, there will be no change in their consumption levels – seen as unacceptably high even as per the standards of rich and developed countries.
“Tariffs should be adjusted so that prices gradually approach real costs,” the former deputy for planning and economic affairs at the Energy Ministry said recently.
Therefore, if heavy consumers are charged three times the price they pay now (2 cents instead of the current 0.7 cent), that would to some extent compensate power generation costs and may help curb high consumption.


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Tue, Sep. 8, 10:57 AM
- Vague rumors that Pixelworks (NASDAQ:PXLW) has landed a design win for Apple's expected iPad Pro appear to have given a lift to shares. The Nasdaq is up 1.6%.
- Apple is expected to show off the Pro, rumored to have a 12.9" display, at its Wednesday event. Pixelworks has said it plans to start mass-production for its Iris mobile video processor in Q3, and that a second-gen Iris chip is sampling.
Fri, Aug. 7, 6:58 PM
- Pixelworks (NASDAQ:PXLW) closed at $4.76 today after pricing its stock offering (first announced yesterday afternoon) at $4.75, nearly 14% below Thursday's close.
- 3.25M shares are being sold, with the underwriter having a 487.5K-share overallotment option. Not counting the overallotment option, gross proceeds are set to total $15.4M.
Fri, Aug. 7, 9:14 AM
Thu, Aug. 6, 5:36 PM
Thu, Aug. 6, 4:48 PM
- Pixelworks (NASDAQ:PXLW) plans a public stock offering of yet-undisclosed size and pricing. Uses for net proceeds "may include, among other things, increasing our working capital, financing of ongoing operating expenses and overhead, and funding of capital expenditures, such as the continued development of solutions for the digital projector, digital television, and mobile device markets."
- The video processor developer had $14.4M in cash at the end of Q2, and $3M in short-term credit lines. Shares have tumbled to $4.80 in AH trading.
Fri, Jul. 31, 9:54 AM
- Pixelworks (NASDAQ:PXLW) followed up its slight Q2 beat by guiding on its earnings call (transcript) for Q3 revenue of $16M-$18M and EPS of -$0.01 to -$0.10, in-line with a consensus of $17.1M and -$0.04.
- CEO Bruce Walicek stated projector design win activity remained strong for Pixelworks' Topaz video processors, and that mass-production of its Iris mobile video processor is expected to start in Q3. A next-gen Iris chip is sampling.
- Projector-related chip sales rose in Q2, while TV/panel-related chip sales fell. Gross margin fell to 48.3% from Q1's 48.8% and Q2 2014's 51%; Q3 GM guidance is at 48%-50%. Operating expenses fell by $400K Q/Q and rose by $100K Y/Y to $8.8M.
- Q2 results, PR
Thu, Jul. 30, 4:08 PM
Mon, Jun. 8, 12:49 PM
Fri, Jun. 5, 12:47 PM
Wed, Jun. 3, 12:45 PM
Tue, Jun. 2, 9:21 AM
Mon, Jun. 1, 12:00 PM
- Asus (OTC:ASUUY) is using Pixelworks' (NASDAQ:PXLW) Iris mobile video processor in its new Hero ZenPad tablet. The companies appear to be referring to Asus' ZenPad S 8.0, an 8" Android tablet that was unveiled this morning at the Computex trade show; it has a 2048x1536 resolution and quad-core Intel Atom CPU.
- Asus/Pixelworks also state the ZenPad is "the world's first tablet to incorporate Pixelworks' True Clarity display enhancements," and claim True Clarity integration allows the device to provide blur-free video, cleaner/sharper images, and automatic lighting compensation.
- Pixelworks has surged to its highest levels since early March. The company stated during its April 30 Q1 CC it had landed new Iris design wins; a second-gen version of the processor is expected to enter mass-production by year's end.
Wed, May 20, 1:48 PM
- Pixelworks (NASDAQ:PXLW) has surged on volume of 505K shares (far above a 3-month daily average of 188K). No news has yet hit the wires to explain the move.
- The video processor developer has recovered the losses seen 3 weeks ago after it posted a Q1 miss and issued soft Q2 guidance. Shares go for 1.6x 2015E sales and 1.3x 2016E sales.
Thu, Apr. 30, 7:26 PM
- In addition to missing Q1 estimates, Pixelworks (NASDAQ:PXLW) guided on its CC (webcast) for Q2 revenue of $14M-$15M and EPS of -$0.04 to -$0.14, below a consensus of $18.1M and -$0.01.
- The continued ramp of projector SoC shipments to Pixelworks' co-development project partner is expected to be offset by a "temporary shift in order patterns" at other projector clients. New designs were seen in Q1 for Pixelworks' Iris mobile video processor; a second-gen Iris chip is expected to enter mass-production by year's end.
- Q1 chip sales rose 35% Y/Y to $14.4M; Pixelworks thinks it gained projector chip share. Licensing revenue was "negligible." Gross margin (non-GAAP) was 48.8% vs. 50.3% in Q4 and 60.1% a year ago; the Y/Y drop has to do with a mix shift towards chip revenue. Q2 GM guidance is at 48%-50%
- GAAP operating.expenses fell by $200K Y/Y to $10.2M - $6.3M was spent on R&D, and $3.9M on SG&A. Pixelworks ended Q1 with $15.6M in cash, and a $3M short-term credit line.
- Shares have fallen to $4.00 AH.
- Q1 results, PR.
Thu, Apr. 30, 4:11 PM
Mon, Apr. 20, 3:12 PM
- With the Nasdaq up 1.3%, many tech companies are posting big gains, and only a few are seeing major losses.
- Notable gainers include audio codec chipmaker Cirrus Logic (CRUS +4%), gaming headset maker Turtle Beach (HEAR +11.4%), video processor developer Pixelworks (PXLW +6%), U.S. solar installer Vivint (VSLR +5.4%), CDN owner Limelight (LLNW +5.9%), cloud revenue management software firm ServiceSource (SREV +4.9%), language software firm Rosetta Stone (RST +4.6%), and storage hardware maker Quantum (QTM +5.3%).
- Notable decliners include craft goods marketplace/recent IPO Etsy (ETSY -8%) and touch sensor developer UniPixel (UNXL -12.2%).
- Cirrus, a major beneficiary of strong iPhone 6 sales, has made fresh 52-week highs; the company reports on April 28, a day after Apple. Beaten-down Turtle Beach is up 52% from an early April low of $1.85; new executive hires and product launches might be helping. Quantum (also making new 52-week highs) is up 38% since pre-announcing strong March quarter sales on April 9. Pixelworks reports on April 30.
- Etsy is now down 18% from last Thursday's post-IPO opening trade of $31.00, as investors balance strong growth and a fervently loyal user base with steep multiples; shares are still up 60% from their $16 IPO price. Likewise, UniPixel is down 18% since announcing a deal to buy Atmel's XSense touch sensor assets on Friday morning.
- Previously covered: Microsoft, Manhattan Associates, Ascent Solar, Check Point/FireEye, Rovi, FARO Technologies
PXLW vs. ETF Alternatives
Pixelworks Inc designs, develops & markets video & pixel processing semiconductors, intellectual property cores, software & custom ASIC solutions for digital video applications. Itsproducts can be used in a various devices.
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