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As a result of a Federal Trade Commission lawsuit, the operators of “The Credit Game,” a credit repair scheme that cost consumers millions of dollars, face a lifetime ban from the credit repair industry in proposed court orders filed today.
Michael and Valerie Rando and their companies, first sued by the FTC in May 2022, would also be required to turn over a wide array of property that would be liquidated and used to provide refunds to consumers harmed by the scam.
“These defendants falsely promised consumers improved credit based on tactics that were both illegal and ineffective,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection. “Our proposed orders will permanently ban these fraudsters from peddling deceptive credit repair tactics to struggling consumers.”
In its complaint against the Randos and their companies, the FTC alleged that the scheme’s operators provided false information to credit reporting agencies regarding consumers’ credit reports. Additionally, the Randos perpetuated the harm to consumers by pitching their customers a supposed business opportunity to create their own bogus credit repair scheme. The complaint also alleged that the scammers encouraged consumers to pay for the bogus services using COVID-19 tax relief funds, which the FTC alleged was a violation of the COVID-19 Consumer Protection Act.
The proposed court orders, which were agreed to by the defendants in the case, include a number of requirements:
- Permanent ban on credit repair: The Randos and their companies are permanently banned from operating or assisting any credit repair service of any kind.
- Prohibition against unsubstantiated claims: The orders would also prohibit the defendants from making claims about the benefits, performance, or efficacy of any good or service without sufficient supporting evidence.
- Turn over possessions: The orders would require the defendants to turn over numerous properties, including: their interest in numerous real estate investments; a Lamborghini, Maserati, Land Rover, and a golf cart; and the contents of numerous bank, investment, and life insurance accounts. These assets will be liquidated by a court-appointed receiver and the funds used by the FTC to provide refunds to consumers harmed by the scam.
The orders contain a total monetary judgment of $18,875,613, which is partially suspended based on the defendants’ inability to pay the full amount. If the defendants are found to have lied to the FTC about the financial status, the full judgment would be immediately payable.
The Commission vote approving the stipulated final orders was 4-0. The FTC filed the proposed order in the U.S. District Court for the Middle District of Florida.
NOTE: Stipulated final orders or injunctions have the force of law when approved and signed by the District Court judge.
The Federal Trade Commission works to promote competition and protect and educate consumers. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. Learn more about consumer topics at consumer.ftc.gov, or report fraud, scams, and bad business practices at ReportFraud.ftc.gov. Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.


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Are you having cash flow problems? Now take advantage of a loan against your existing car in a unique CARS24 offer
If the COVID-19 pandemic has exhausted your resources, creating serious cash flow problems, your existing car can come to your rescue and provide the liquidity support you need during these difficult times. A new product has entered the market that will offer customers a loan against their existing vehicles. So all your cash flow issues are taken care of while you continue to enjoy driving your car.
The unique loan offer came from automotive technology company CARS24. Their loan product will allow customers to get a loan on their used car. Traditionally, a customer gets a finance option only when they buy a new or used car.
According to CARS24 research, the number of customers selling their cars due to lack of cash has doubled compared to the pre-Corona era. Taking advantage of this opportunity, CARS24 will now grant loans to customers who do not wish to sell their car otherwise. This will help the clients to retain ownership of the asset and at the same time secure funds for their personal needs.
The company is making this service available to Delhi-NCR now and it will be available to customers in Bengaluru and Hyderabad by next month. It is proposed to extend the product to other metros by the end of fiscal 2020.
Customers applying for the loan on their car will benefit from features such as same day loan approval and disbursement, financing up to 100% from the last value of the car (for vehicles up to 12 years), the loan launch with minimal documentation (PAN, proof of address and bank statement) and additional benefits such as the installation of an anti-theft device and easy entry options, according to a press release from the business.
Sharing the announcement, Vandita Kaul, Vice President of CARS24, said: “We have seen many instances where people have expressed an interest in selling their cars to meet their financial needs. Knowing that owning a car is becoming a necessity these days, we have come up with an initiative for our clients to secure funds and hold their assets at the same time. So far we have disbursed loans worth Rs 35 lakh to our clients in this vertical and hope to strengthen this portfolio exponentially from here. “
(With IANS entries)

domain: news


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Amazon Marketplace Coronavirus support webinar II
Start Date: Friday 24th April 2020 - 13:00pm
End Date: Friday 24th April 2020 - 13:30pm
Amazon are to run a second Amazon Marketplace Coronavirus support webinar, in which they will be providing the latest updates to Amazon’s Coronavirus policies, focusing on what has changed since their first Amazon Marketplace Coronavirus support webinar earlier this month. You can re-watch the first webinar on demand here. The new webinar will be held on Friday the 24th of April running from 1pm for approximately half an hour.
In the webinar, Simon Donegan, Head of Seller Services at Amazon UK will share details about Fulfilment by Amazon operations, Returns, and Account Health. If you are an Amazon marketplace seller and especially if you are an FBA merchant you will definitely want to listen to what Simon has to share.
Simon will be joined by Emma Jones MBE, the founder of Enterprise Nation. Emma will provide updates on government support to small businesses and you can expect to hear about everything from the Coronavirus Job Retention scheme, support for the self employed, government backed coronavirus loans as well as grants, rate relief and other tax measures designed to assist your business through the Coronavirus pandemic.
The Amazon Marketplace Coronavirus support webinar is free for all Amazon merchants should you wish to attend.


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“The phones could use Crystal Sound OLED display and hide all the sensors beneath the screen”
There are plenty of phones with full screen displays are available today. These devices use a sliding mechanism or a pop-up system to hide front facing camera and other sensors. Samsung’s answer to all this – and the notch – has been the Infinity-O display. The company punched a hole in its display to house the front facing camera, which can seen in the new Galaxy S10 series. However, the South Korean manufacturer has other plans for the future of smartphones.
During a briefing, Samsung said it wants to provide a full-screen look for its upcoming smartphones. It wants to place the front-facing camera and other sensors behind the display itself, which will give the phone a proper full screen. While the Infinity-O display has been a milestone achievement for the company, in engineering terms it is quite challenging to achieve.
Yang Byung-duk, the VP of Samsung’s Mobile Communication R&D Group Display, stated, “Punching a hole in the OLED display is a very challenging technology. We tried the technology for Galaxy’s 10th anniversary model and think the strategy worked as a result. Galaxy S10 is the only smartphone that has a hole in OLED display itself. Hole display is not one of the design options, but it is a noteworthy achievement in terms of the display technological advances.”
The company’s next milestone would be achieve a smartphone with the said full-screen display. Yang said that in the next 1-2 years, the technology can advance in a way where the camera cutout will not be visible under normal use. Later on, the sensor can continue to remain invisible even when in use. Apart from this, the company is also working on using the screen as the speaker.
Samsung is developing Crystal Sound OLED technology, which uses the screen to send out vibrations and double as a loudspeaker. LG has already done something like this in the latest LG G8 ThinQ (first impressions). This would eliminate the need for a loudspeaker and earpiece. Only then, can there be a perfect full-screen smartphone.


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Mainstream Boutique in Grand Blanc waiting a couple weeks to reopen
(5/26/2020) - While many Mid-Michigan retailers are opening their doors Tuesday, one Grand Blanc boutique will stay closed for the time being until they're sure they are ready to open.
It's been weeks since many small businesses have opened their doors and Tuesday was the big day for some to welcome customers again. But for Mainstream Boutique, their doors will stay locked for two more weeks.
The store will reopen to customers by appointment only on June 8.
"We have to be really sensitive to people who have been affected by this," said owner Erica Markee. "I know people are really eager, but this has to be done right. Especially as a business owner, you don't know who is walking in your doors."
While she wants to open her shop, there many are things to consider before doing so.
"I'm waiting on my big jug of hand sanitizer and disposable masks," Markee said. "I just want everything to be done safely and properly."
Her concern isn't just for shoppers, but also her employees.
"I just felt like, they've been off. My manager has two young kids with no child care set up. I just really need to give them the time to get stuff set up and to make sure my store is ready," Markee said.
The statewide executive order that closed Mainstream Boutique and most other retail stores forced Markee and her employees to get creative about ways to stay in business, including virtual shopping. She plans to continue that until reopening in early June.
"I'm only going to allow five people at a time because my store is so small, and then one staff member. So we will be under that 10 people limit," Markee said.
The past few months have been difficult for most retailers, but she said having a supportive community has allowed her to continue her business even through the difficult times.


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Dubai export body has plans for India
India is expected to be the third largest economy in the world by 2050, after China and the US, according to economic experts and reports, and capitalising on this, the Dubai Export Development Corporation (DEDC) has organised a seminar through the Dubai Export Academy on 'Exporting Opportunities in India'.
More than 40 UAE companies attended the seminar in the presence of Sanjay Verma, Consul General of India. Among the speakers were AJ Vidiaysagar, CEO of State Bank of India Dubai Branch, and Navin Kapoor, Managing Director, Xpertise Unlimited.
"Dubai and India have a very long trading history. Therefore, it's no surprise to find that India is currently Dubai's major trading partner with over 40 per cent of the emirate's exports going to the country," said Engineer Saed Al Awadi, CEO, DEDC.
Follow Emirates 24|7 on Google News.


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Apple executives call the Apple TV a hobby, but it appears they may hold big plans for the product, which saw sales triple year-on- year during the company's most recent financial quarter.
As the global migration to digital television gathers an impressive momentum, with audiences going online to services such as Hulu, iPlayer or iTunes, Gene Munster of investment banking firm Piper Jaffray now anticipates sales of 6.6 million Apple TVs by the end of this year.
Munster also expects a launch this year of brand new Apple TV hardware equipped with a TV input and DVR functionality. Furthermore, he also anticipates an Apple branded television set equipped with Apple TV-like features by 2011.
Munster explains: "We are expecting Apple to design a connected television over the next two years (launching in 2011) with DVR functionality built in. These recorded shows could then sync with Macs, iPhones and iPods over a wireless network. The device would push Apple further into the digital living room with interactive TV, music, movie and gaming features. With its iTunes ecosystem, Apple could develop a unique TV without any set-top boxes or devices attached."
The proposition has numerous advantages. While sales of TV shows and films through iTunes could suffer a slight impact should the company implement DVR features in the product, the Apple TV might become the single solution that replaces your DVD player, cable box and games console. Note that the iPhone and iPod touch, together with the App Store, have already seen Apple develop closer relationships with games publishers than ever before.
Third party development
Given that these partners are already now developing using the OS X-based iPhone SDK, it's no giant leap of fancy to confidently speculate on future full-strength games for the Mac from these games developers. Clearly, Apple TV could also benefit, should the company introduce an SDK for the existing or future generation of the device.
The hard work of the Boxee team – who have developed a far more advanced home entertainment system for Apple TV – proves the existing system can already be extended. "We would love to see Apple investing more resources in the living room," said Boxee CEO, Avner Ronen. "Whether these are new versions of the Apple TV, Mac mini or an actual network-connected TV, it will mean there are more devices in the living room that Boxee can run on.
We also hope that Apple will open up Apple TV for the developers, so that Boxee (as well as other similar applications) could be easily installed." The introduction of an all-in-one Apple television system could become a market-leading system.
Munster goes on to speculate: "Such a device would command a premium among a competitive field of budget TVs; we believe Apple could differentiate itself with software that makes home entertainment simple and solve a pain point for consumers (complicated TV and component systems)," he said. "Apple has indicated that it only wants to participate in categories it feels it can make a difference (and win) in. And, like with the smartphone market, we believe connected TVs fit the company's criteria," he added.
Munster is not alone with this way of thinking. Bernstein analyst Toni Sacconaghi also thinks that Apple should transform its device into a cable box. A report on Business Week echoes these musings, observing: "There's a pent-up demand among a core group of early-adopting consumers to push their extensive video collections out of their computers and into their TVs." Apple's recent $500 million five-year deal with LG Electronics may be worth keeping a close eye on.
This ostensibly secures supplies of computer screens, but remember that LG also makes televisions. There is no reason not to believe that the company could even be Apple's secret partner in its future plans for its hobby product…
Apple COO Tim Cook recently commented: "We are going to continue to invest in [the Apple TV], because we fundamentally believe there is something there for us in the future."
With the US HDTV market predicted to reach ten million sets per year, any move to broaden the front-room offering to Apple's 65 million registered iTunes users has a strong chance.
First published in MacFormat, Issue 206
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Nikola Tesla People
Relatives, friends and associates of Nikola Tesla
Colorado Springs Gazette Telegraph - December 22nd, 1989
Bulletin board helps students Computer owners interested in getting the lowdown on high-voltage pioneer Nikola Tesla and his engineering theories now can log onto the Theoretical Electromagnetic...
Article added September 15, 2017 - 10:34 AM


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In 2023, the all-new Orient Express La Dolce Vita will take the tracks with six new luxurious routes.
The European lands have been popular around the globe for their world-class rail system, thanks to experiences like travelling in the iconic Orient Express. The historic Orient Express captured the hearts and minds of many travellers and artists alike (think Agatha Christie’s 1934 detective best-seller Murder on the Orient Express), before its operations were shut down in 1977.
The luxury rail experience is all set to win hearts again by making a grand return to Italy with new trains, exciting itineraries, and latest international routes. The new Orient Express La Dolce Vita will be welcoming passengers onboard in 2023 on six trains offering six different itineraries that cover Italy from north to south, along with international routes visiting Paris, Istanbul, and Split (Croatia).
Partially owned by the Accor group and designed by Dimorestudio, the luxury rail venture is all about celebrating the glorious era of 1960s and ’70s, a historic period in Italy known as ‘La Dolce Vita’, as the name suggests. Expect a lot of art, glamour, as well as joie de vivre, incorporated well in the décor throughout its 12 deluxe cabins, 18 suites, and one Honour Suite, and the onboard restaurant.
“At Accor, we consider it an immense privilege to re-launch the historic Orient Express brand for passionate and discerning travellers. These trains offer a new vision of luxury travel that is beyond our imagination,” said Sébastien Bazin, chairman and CEO of AccorHotels, in the official press note. “Our association with Arsenale Group has opened up new horizons in perfect harmony with the heritage and philosophy of Orient Express, and marks our constant desire to keep moving forward.”
Suggested read: Orient Express goes full steam ahead with its super-luxe travel accessories
Guests can pick to stay one to three nights aboard the new trains, with ample time for excursions. A stopover in Rome will be at the heart of each of these journeys, allowing travellers to experience a stay at Minerva, the first Orient Express hotel, which will open its door for guests in 2024.
Ride the Wes Anderson carriage on The British Pullman, experience the golden age of travel


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Finnish food company Atria has announced is acquiring the business operations of Aalbaek Specialiteter A/S, Denmark’s largest manufacturer of organic cold cuts.
Aalbaek Specialiteter was founded in 1920 and is now one of Europe’s largest manufacturers of organic meat products including cold cuts, pates and bacon.
Atria said the purchase was aimed at strengthing Atria’s market leading position in cold cuts in Denmark, where demand for organic meat products has been increasing steadily for several years.
The purchase includes a butcher’s shop and a production facility in Farre close to Give. Atria Denmark’s production facility in Horsens already produces a number of Aalbæk Specialiterer’s products, and both factories will continue the production of Aalbaek Specialiter’s products on conclusion of the deal, Atria said.
As a result of the deal, Atria said its net sales were projected to grow by around €10 million ($11 million) per year.
The company will be transferred to Atria on 11 May 2015.
Source: Atria / Bruun & Hjejle


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There might be cruises to Alaska this summer after all. The House on Thursday voted to let large cruise ships sail directly from Washington state to Alaska without stopping in Canada. The Senate has already approved the change, so it goes next to President Joe Biden. Tourism officials in Alaska say the legislation is a lifeline for small businesses in the state that depend on tourists who arrive on the cruise ships. The cruise lines will have to meet health guidelines set by the U.S. Centers for Disease Control and Prevention.
The post Legislation raises hopes for Alaskan cruises this summer appeared first on WEEK.


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Oliver Spencer are excited to announce a collaboration with award-winning artist Wolfgang Buttress; an installation of a multi-sensory sculpture within their Soho store at 81 Berwick Street, London. ‘Reverie’ is an immersive experience that invites the public to explore and sit within a sculptural environment planted with wildflowers and Flax (linen).
Over the last few months we have been working with award winning artist Wolfgang Buttress on an installation for our Soho store on Berwick Street. The sculpture is a multi-sensory experience called Reverie. Using sound, scent and form the intention is to invite contemplation on the importance of sustainable fashion and how we can protect and support pollinators such as the honey bee
Tailoring has always been an important part of our collections at Oliver Spencer. We believe that wearing a suit shouldn’t have to be a chore; our unstructured suits are relaxed and easy to wear because of their simple cuts and high quality fabrics. They present a smart/casual look without the cost of comfortability.
In April 2008 Oliver Spencer opened the doors to 62 Lambs Conduit Street for the very first time. A shop, design studio and head office spread over two floors on one of central London’s most vibrant and creative streets.
With the anniversary of our 62 Lambs Conduit street store this week we thought we would ask the people that have worked on the street for Oliver Spencer.
London, a beautifully proud, tough and loving place, has provided the inspiration for Oliver Spencer’s SS18 Collection. An homage to this great city we live in, it reflects the diversity and versatility of its inhabitants and the ever changing nature of this vibrant metropolis.
Oliver Spencer showed his AW17 collection at London Fashion Week Men's last weekend. Subtitled 'Tough Love', the show was held on Saturday 7 January at 180 Strand.
In case you missed it: last week we live-streamed our first shoppable catwalk show. With new social media app Vero, you could shop the looks as they made their way down the runway.
Oliver Spencer presented AW16's collection during London Collections Men, showcasing an Afrobeat-inspired array of garments inspired by Ginger Baker's travels from London to Africa.
Music is an inspiration for Oliver Spencer. For our AW16 season our journey has taken us from London to Africa, inspired by maverick musician Ginger Baker, who traveled there and was immersed into the world of Afrobeat and collaborated with legendary musician, Fela Kuti.


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What you need to know
- LinkedIn announced an agreement to acquire marketing analytics company Oribi.
- Oribi's technology allows companies to analyze behavior on websites without requiring knowledge of coding.
- LinkedIn will open an office in Tel Aviv, Israel as part of its agreement to purchase Oribi.
Microsoft's LinkedIn just announced an agreement to purchase marketing analytics company Oribi. The move will result in more features for marketers and recruiters using LinkedIn to see insights from web activity. LinkedIn did not disclose how much it agreed to purchase Oribi for. TechCrunch cites sources claiming that the deal is worth between $80 million and $90 million.
Oribi specializes in making analytics more accessible and easier to use. Using Oribi to receive insights does not require any knowledge of coding, which lowers barriers for smaller companies. LinkedIn will integrate Oribi's technology into its own offering.
"Through the integration of Oribi's technology into our marketing solutions platform, our customers will benefit from enhanced campaign attribution to optimize the ROI of their advertising strategies," said Chief Product Officer at LinkedIn Tomer Cohen. "This means that our customers will be able to more easily measure website conversions with automated tags and code-free technology, as well as build more effective audiences, all in a way that is privacy-first by design."
Cohen notes that more than 57 million businesses around the world build their brands through LinkedIn. The acquisition of Oribi should help LinkedIn customers "achieve maximum value from their marketing strategies," according to Cohen.
Following the acquisition of Oribi, LinkedIn will open an office in Tel Aviv, Israel. Multiple members of the Oribi team are expected to join LinkedIn, including Iris Shoor, the founder of Oribi. Cohen did not mention any other specific members of the Oribi team that will join LinkedIn.
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text: Kashmir set to host its biggest tourism gathering in 30 yearsKashmir is preparing to host its biggest tourism gathering in three decades, as major players and policymakers in the travel industry across India will meet in the Valley for a convention in March, offering a ray of hope to the struggling sector here. The valley last month grabbed the cheap rolex replica uk opportunity to host the annual convention of the Travel Agents Association of India (TAAI), which was initially expected to take place in China. More than 500 influential travel, tourism and ticketing players will visit Kashmir to explore the place�s scenic beauty and its rich culture and heritage. The convention usually happens at a global destination. Kashmir has hosted it seven times, all before 1988. Over 10 tourism players from foreign countries and representatives of rolex replica for men various states are also expected to attend the 64th convention of TAAI.


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AMD still doesn’t plan to compete directly with Intel, VIA, or ARM in the netbook space. But earlier this year the chip maker introduced the relatively low power AMD Athlon Neo CPU for ultrathin laptops like the HP Pavilion dv2. It’s paired with an ATI graphics card and can handle HD video on laptop with a 12 inch display that’s not much bigger than some netbooks.
Today AMD is launching its next generation processor for ultrathin laptops. Actually, the company has a whole slew of announcements today, but I’m most interested in the new ultrathin platform which includes a 1.6GHz AMD Athlon Neo X2 dual core processor L335.
AMD’s Patrick Moorhead tested a system with this CPU, ATI Radeon HD 3200 graphics, and a 12 inch, 1366 x 768 pixel display and HDMI output. The laptop was made by MSI and wasn’t much bigger than an MSI Wind U100 notebook. Moorhead says the computer had no problem with HD YouTube and Hulu videos as well as HD video from a webcam and a Blu-Ray drive. The system could also handle modern video games.
AMD is also promising that the next generation chips will provide better battery life. The HP Pavilion dv2 topped out at around 2.5 hours. But there aren’t a lot of specifics about the battery performance yet.
In related news, AMD is trying to simplify the labels it slaps on computers with its chips. Apparently there are 221 different AMD stickers right now. I could have sworn I’d only seen 211. But anyway, soon there will be just three stickers for most computers: AMD Vision, AMD Vision Premium, and AMD Vision Ultimate. The basic Vision sticker will go on systems that can handle basic computing tasks but which aren’t really optimized for HD video. Premium systems will have support for DirectX 10.1, Blu-Ray video, and longer battery life. Ultimate labels will go on systems with extra support for HD video editing and encoding.
Patrick failed to mention battery life… not a good sign.
currently awaiting Patricks reply to my question regarding Congo and OpenCL driver support.
it would be disappointing if Congo does not get OpenCL support, as AMD market Congo as a real computing platform and not just a media consumption device.
it would also contrast unfavorably with nVidia Ion, which has CUDA support and no doubt OpenCL support soon too.
Hope this new strategy works. I like AMD but they haven’t been doing too well recently.
Comments are closed.


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Volvic Juiced is launching its first TV campaign this month as part of the juicy water drink’s first ever major above the line marketing campaign.
The 20 second ad depicts pure Volvic natural mineral water, fresh from its journey through six layers of volcanic rock, bursting through an apple tree to create Volvic Juiced. Featuring the tagline ‘Filled with Volcanicity’ the ad will run until 19 May.
Volvic will also run a targeted poster campaign near to grocery and convenience stores, as well as sampling at train stations and city centres across the UK.
Volvic Juiced, launched in April 2012, combines Volvic Natural Mineral Water with fruit juice. It already accounts for 5% of total soft drinks growth in the UK and is available in Orchard Apple, Cloudy Lemon, Berry Medley and Summer Edition Citrus Burst flavours.
Blandine Stefani, Marketing Director of Danone Waters (UK & Ireland), said: “We are predicting a very juicy summer ahead and can’t wait to show off our fantastic new ad. Volvic Juiced is a truly refreshing alternative to traditional soft drinks and hopefully this campaign will allow us to share it with more people than ever.”
The launch will be supported by in-store promotions across the UK.


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Detroit – A little over five years ago, the city of Detroit – widely known for being the epicentre of the American car industry a century ago – filed for the largest bankruptcy in the country’s history. After decades of economic and demographic decline, Motor City had accumulated nearly 16 billion euros of debt and, by 2016, around 36 per cent of its inhabitants lived in poverty. It was rock bottom – but the only other direction was up.
Today, Detroit still has a long journey ahead to re-stabilise its infrastructure and the lives of its people, but the imminent promise of revitalisation and repopulation is a silver lining. The recent opening of the Shinola Hotel – the local luxury goods company’s first hospitality endeavour with 129 guest rooms and a living-room-like lobby – is representative of that. It’s a brand that, since its conception in 2011, has always been vocal about its pride for being based in Detroit. And, despite the hardships, they stayed loyal to their city: their watch, leather and bicycle factories – and jobs – were never outsourced.


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Ranga rebrand: Bulmers promotes ginger pride
To plug the launch of its new ginger cider variant, Bulmers has launched a Facebook page promoting ginger pride.
Created by Liquid Ideas, the campaign for Bulmers Ginger carries the tag line ‘Proud to be Ginger’ and will culminate with a ‘Ginger Party’ in Sydney. To go into the running for tickets to the event, punters are asked to describe which ginger they’d take as their date in 25 words or less.
Bulmers Ginger is the first ginger cider to launch in Australia, introducing a new variant to the barnstorming cider market, which is the fastest growing alcohol category in Australia. According to Nielsen’s Scantrack Liquor study, the category grew 43% in the 12 months to June 2012.
While the Facebook page has a tongue-in-cheek tone, it could potentially fall prey to the Advertising Standards Board’s recent ruling that fan comments on Facebook pages are effectively ads and need to be monitored by the brand.
On a ‘house rules’ tab of the page, Bulmers writes, “Comments posted to this page do not necessarily represent the opinions of Bulmers or Carlton & United Breweries.”
And if you’re thinking of making any disparaging ‘red hair, no friends’ remarks, think again. Bulmer’s also writes that the page is for the love, not ‘trolling’, of proud, confident gingers. “We will review comments and will moderate or remove any that are inappropriate, offensive, inaccurate or unlawful, so keep it clean folks, there’s a time and a place.”
Bulmers Ginger will hit the market following the Ginger Party launch event, to be held on Tuesday 18 September at The Standard in Sydney.


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Generous government incentives and a thriving and competitive local EV industry are helping China surpass EV adoption goals.
Spotify’s 200-person podcasting layoff shows a change in priorities: Podcasts are still a major growth sector, but exclusivity is in the past.
The Vision Pro headset puts Apple at the forefront of the augmented reality discussion, but the device’s business focus and exorbitant pricing could limit wider appeal.
YouTube's policy reversal: Balancing free speech and controlling misinformation could influence political ad spending in the 2024 cycle.
Gen Z's podcast listening surges: New study reveals insights into the habits and preferences of this diverse listener demographic.
Ad spending growth is an illusion: Dentsu downgrades its 2023 ad spend growth forecast due to macroeconomic factors and inflation.
What Insider and Gannett strikes mean for publishing: The industry’s long decline has made it hard for companies and workers to meet at the table.
On today's episode, we discuss what AI-generated ads will look like, TikTok testing a new AI chatbot called Tako, Formula One finding a new way to advertise on its cars, ESPN offering its channel as a standalone streaming service, what using VR in a car will look like, visualizing the US workforce as 100 people, and more. Tune in to the discussion with our forecasting writer Ethan Cramer-Flood, director of forecasting Oscar Orozco, and analyst Max Willens.
With 34 million developers, a massive app ecosystem, and a burgeoning ad business, Apple could fast-track its metaverse ambitions behind its MR headset announcement.
Privacy violations expose questions about data security in IoT devices and could lead to stricter regulations and potential impact on targeted advertising strategies.
California’s publisher bill could start a wave of state-level Big Tech challenges: Facebook has threatened to pull the plug on news content in response.
Disney reaches its goal of 7,000 job cuts: The entertainment giant has entered a complicated period with slow streaming growth and battles in Florida.
Apple’s Reality Pro vs. Meta’s Quest 3: Reality Pro’s WWDC unveiling could signal a turning point for metaverse technologies. Meta could be a beneficiary with its affordable offering.
On today's episode, we discuss the significance of Netflix saying it has 5 million monthly active users on its ad tier, the biggest impacts of the new streaming service Max, and how much noise a combined Paramount+ and Showtime offering can make. "In Other News," we talk about the current state of esports and what the best connected TV (CTV) ad formats are. Tune in to the discussion with our director of Briefings Jeremy Goldman.
55% of US broadband households use connected TVs for streaming services, making standalone devices like Google’s Chromecast less essential.
The White House and Commerce Department support aggressive EU proposals, while others fear competitive disadvantage. Meanwhile, Beijing seems to have the upper hand.
NBA gears up for upcoming rights negotiations: Potential shift towards multiple partnerships with both traditional broadcasters and digital-first platforms is possible.
Tech leaders racing to develop AI technology are acknowledging its dangers and comparing them to pandemics and nuclear war.
The strike's impact on film: The WGA work halt could have an outsized long-term impact.
Two-thirds of Netflix password-sharers say they’ll get their own sub: Netflix’s password changes are unpopular, but they’ll still grow revenues.


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Mobile phone and broadband prices continue to drop - even as we get more for what we pay
Whether it’s doing the banking, keeping in touch with friends and family or researching a school project, internet access is part of daily life. And with so many of us stuck at home because of COVID-19, we’ve been reminded just how important connectivity is.
So it’s no surprise that paying for home broadband and mobile phone services is a key part of our household budgets.
What might be a surprise, though, is that while speeds and download limits keep going up, what we pay is actually going down.
New research from the Bureau of Communications and Arts Research (BCAR) shows the overall affordability of communications services is continuing to improve in Australia. Importantly, for low income households, there are affordable options to meet their basic data needs.
The trend for communications services to get more affordable is consistent over the last six years.
Most people today see a mobile phone as essential. The BCAR report finds that data and call inclusions have increased significantly for mobile prepaid plans in recent years, which is in line with the trend that mobile plans on the market today represent better value for money, and give greater choice for consumers.
Over the four years to 2018, the price of prepaid mobile plans was down by almost 4 per cent per year, and post paid mobile was down 9 per cent a year.
Yet at the same time phone plans are offering more. In 2017-18, average monthly mobile data allowances for prepaid mobile were up 153 per cent on the year before (to 11.5 gigabytes or GB); for post paid mobile they were up 91 per cent (to 14.2 GB.)
The story is similar for fixed line broadband, with prices dropping 3.5 per cent a year between 2014 and 2018.
NBN Co is working to deliver more affordable products to lower income households. Last year it brought in a lower priced entry level 12 megabit per second (Mbps) product - designed to allow retailers to offer a $60 a month plan.
The cost of phones and broadband services stands out compared to other areas of household spending. Since 2000, the consumer price index is up 63 per cent - meaning the average household has to spend 63 per cent more to buy the same bundle of goods and services as twenty years ago.
But over the same period telecommunications costs have dropped by 6 per cent - at the same time as consumers are getting much more for their money.
Consider home broadband for example. Before the NBN came along, most Australians got home broadband using a technology called ADSL. The speed was not guaranteed - and two thirds of people got less than 8 Mbps. A typical ADSL 2+ service in 2009 (including the compulsory payment of monthly line rental) cost $110 per month. It came with 45 GB of monthly data included.
Today the typical Australian gets their broadband over a 50 Mbps NBN plan, there is no monthly download limit, and they pay around $75 a month. You get much faster speeds, you can download unlimited data and it costs much less - that’s a pretty big improvement.
Sometimes it can seem like household expenses only ever go up. But when it comes to broadband and mobile prices, the numbers are clear - we are paying less, and getting more, than we used to.
Read the full BCAR report here.


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Palm Beach Media Group, publisher of Palm Beach Illustrated, Naples Illustrated and Tampa Bay Illustrated, has named Jeffrey Ditmire director of new magazine development. He was most recently publisher of San Francisco magazine.
Former executive vice president of research and planning at Viacom, Betsy Frank will join Time Inc. as the company’s first ever chief research and insights officer.
Christine Osekoski Tillman has been named national sales director at Fast Company. She most recently served as eastern advertising manager of Hachette Filipacchi Media’s Car and Driver and Road & Truck magazines.
Parents has promoted Brian Gruseke to Associate Publisher. He was formerly the magazine’s ad director.


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Pop-up shops now account for 0.76 per cent of total UK retail turnover, up from 0.6 per cent the year before, according to an annual report by the Centre for Economics and Business Research (CEBR).
The research finds that the sector is growing much faster than predicted, with 12.3 per cent more revenue this year versus 8.4 per cent last year, caused by a rise in the number of customers and an increased average spend.
Some 44 per cent of respondents have visited a pop-up in the past year, and they’re spending £8 per month more than they previously were at an annual total of £124 per person.
Britain is now host to more than an estimated 10,000 pop-ups, according to the report, and the sector employs more than 26,000 people. The lines between pop-ups and traditional retail are increasingly blurred, as well-established retailers and online-only brands are using pop-ups to test and expand into new locations and product lines.
Around 8 per cent of retailers report having launched a pop-up sometime in the past year, while 10 per cent plan to open one in the next five years.
However, barriers still remain. Obtaining a reliable internet connection remains one of the biggest challenges, and is crucial for point-of-sale (POS) devices, stock management tools and for real-time customer promotion via social channels like Facebook, Twitter and Instagram.
Additionally, despite the fact that card payments are projected to overtake cash within the next ten years, over 40 per cent of small retailers and food and accommodation providers say they are unable to process card payments.
Additionally the report highlights stock management is increasingly a key challenge, particularly as retailers try to manage sales and inventory across online, permanent and temporary shops. 25 per cent of retailers say they have lost money because they don’t have sufficient stock management systems in place.
Rob Harbron, managing economist for CEBR says, ‘Pop-up retail is continuing to become an increasingly viable platform for both people with new business ideas and for established businesses looking to engage with customers in new and innovative ways.
‘Successful retailers increasingly need to offer customers the ability to shop when and where they want. As such, the flexibility of pop-up stores makes the format increasingly attractive. However, without appropriate investment in technology, efficiently co-ordinating a range of platforms is becoming increasingly challenging for businesses.’
Ross Bailey, founder and CEO of Appear Here adds, ‘This report highlights how important the pop-up sector is becoming to the UK economy. With so many traditional retailers using pop-up shops and so many pop-up retailers moving onto long-term rents, we should no longer be looking to draw a line between traditional retail and pop-up retail – it is all just retail.’


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|U.S.-Korea trade agreement effective date|
|News Releases - Business, Economy & Finance|
|Written by Sen. Chuck Grassley|
|Friday, 24 February 2012 15:06|
Sen. Chuck Grassley of Iowa today made the following comment on the announcement from the United States Trade Representative that the trade agreement between the United States and South Korea will go into effect on March 15. Grassley and others have long-awaited the trade agreement for its significant benefits to U.S. farmers, businesses, and services providers. Congress approved the trade agreement’s implementing legislation in October 2011 after long delays in President Obama’s submission of the legislation to Congress. Upon approval of the implementing legislation, the President was authorized “to exchange notes with Korea providing for the entry into force at such time as the President determines that Korea has taken measures necessary to comply with provisions of the agreement that are to take effect on the date of the entry into force,” according to the trade representative’s office. Grassley is a senior member of the Finance Committee, with jurisdiction over international trade, and former chairman and ranking member of the committee.
“This is good news. U.S. workers deserve the boost from this new market access. They’ll rise to the challenge with quality goods and services. The implementation of this trade agreement was a long time in coming. It’s ironic that the same Administration that was slow to present the implementing legislation gave the agreement such a fast turn-around from legislative approval to the effective date. I hope the speed of implementation doesn’t cause problems. Anything that’s not spelled out now could be the source of trade disputes later.”
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SAN FRANCISCO (Reuters) – Battery Ventures, a tech-focused venture capital firm, on Wednesday said it had raised $2 billion in two new funds, a sign of investor interest in start-ups despite some high-profile stumbles including office space leasing company WeWork.
General Partner Michael Brown said a meltdown in the valuation of WeWork, backed by Japan’s SoftBank Group, did not impact fundraising, and that global growth concerns raised by the coronavirus likely would be short-lived. Low interest rates were pushing investors into venture capital, he added.
Brown said the two funds include $1.2 billion focused on early stage investments and $800 million that will be invested in more mature companies, often along with the main fund. Battery Ventures previously has invested heavily in software for businesses and sees some opportunity in technology for blue-collar workers.
“Seventy percent of the world’s population doesn’t sit behind a desk. So there’s a whole wave of…
Source Reuters Tech News


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Over 14K Microsoft partners helping customers boost their biz in India
New Delhi, Oct 28 (IANS) Microsoft now has over 14,000 partners in India who are helping customers drive business growth and digital acceleration amid the pandemic, a top company executive has said.
Globally, the company has more than 400,000 partners and 95 per cent of Microsoft's commercial revenue comes through partners.
"In India, we have a 14,000 plus partner ecosystem that delivers value to businesses and to the country's economy. Partners play different roles -- as a services scale partner, a global system integrator, a managed service provider, etc. With our partners, we share a common goal here to help customers drive business growth and digital acceleration," said Alok Lall, Partner Technology Lead, Microsoft India.
During a virtual roundtable ‘Partners of Choice' on Wednesday, Microsoft said that its offerings are helping partners in the life-cycle of building the solutions, getting them to market, reaching new customers and be available and discoverable on the marketplace by millions of customers.
"Our experience has been that digital transformation means different things for different clients. For some, it's an enterprise-wide transformation and driving the tech acceleration or adding intensity. That's where the more progressive ones are headed," said Lall.
While for others, it's more around driving growth or managing business model disruptions.
"While there could be some others who are looking at a more functional transformation of the front office or back office or reshaping the supply chain or workforce transformation and so on and so forth. So, it's a very diverse pattern," he added.
According to Sudhir Kothari, CEO and Managing Director at Embee Software, the opportunities for the small and medium businesses (SMBs) in India are massive.
"We see all kind of opportunities in SMBs right now -- ERP, CRM collaboration, security and hybrid cloud solutions. The decision-making and inclination is towards cloud innovation. This is something where Microsoft has a big role to play with their offerings," Kothari said.
Shreeranganath Kulkarni, Chief Delivery Officer, Birlasoft said that people have started looking at the adversity of Covid as an opportunity.
"It is evident that Covid has accelerated the digital journey for all of us. At this point of time, we should look at the advantage of partnering together. As a service provider, we understand the domain. We have the industry knowledge and know where our clients are present across industry verticals," Kulkarni added.


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Tesla Inc has for a long time now wished to enter the Indian market but strict import regulations by the current government are a cause for the hold-up
In what is perceived to be super exciting news for all electric vehicle (EV) aficionados particularly Tesla fans, the American EV manufacturer might enter the Indian market next year. And there is formidable authority to back this claim.
The development was confirmed by none other than Tesla Inc. CEO Elon Musk on social media. An unofficial Tesla fan club with the Twitter handle @TeslaClubIN asked Musk when the company was planning to enter India as an automaker. To which the Tesla founder replied, “Next year for sure”.
Replying to a post on the micro-blogging site which featured T-Shirts printed with messages- ‘India Wants Tesla’ and ‘India Love Tesla’, Musk wrote, “Thanks for waiting”. Soon after this, the tweet went viral as it garnered a lot of attention, especially from Indians.
Current Scenario For EVs in India
Interestingly, this development comes at a time when recently Tesla’s entry into the Indian market was teased earlier this month. According to some reports, Tesla has been in talks with some officials of the Indian government to open a research and development facility in the country. According to the report, Tesla also showed some interest in investing in a research and innovation centre in Karnataka.
The report suggested that talks were still in preliminary stages. The company thought of Karnataka because it was the first Indian state to establish a dedicated electric vehicle policy. Seeing this many other states like Delhi have followed suit with their own EV policy. Tesla’s entrance into India comes at a time when the Central government is pushing hard for the EV segment. The government in the recent past has been promoting the manufacture and use of EVs very extensively.
Why the Delay
Musk had earlier admitted that he would Tesla to set up its business in India. However, there are still some big hurdles to overcome as import duties into India are as high as 100 percent which might make Tesla electric cars way out of reach for most Indians. Tesla is seeking temporary relief from the government on import penalties and restrictions. However, the only sustainable solution to this is to locally manufacture Tesla products in India.
First Tesla in India
Tesla’s latest product in its portfolio has been Model 3 which is being manufactured in China. It has already sold over 11,000 units of Model 3 in China in August this year. The American EV brand is also setting up a new car manufacturing facility in Shanghai which is expected to start functioning from next year. It is this car which is expected to be the first Tesla to be launched in India


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A fast food delivery service is introducing a new charge just as additional fees on credit or debit cards are being banned in shops.
From Saturday, January 13 , the new law will prevent stores from penalising shoppers who want to pay by card.
But popular takeaway app, Just Eat, has introduced a new "service charge" which adds an extra 50p to customer bills, reports Wales Online.
This new charge appears in the same place on the order screen as the old 50p card fee, but it will be now be added to all transactions, whether customers pay with cash or by card.
Just Eat says it was already reviewing its approach to additional charges prior to the new law being announced, and they say that the new legislation along with their new service charge will help them offer the best possible takeaway experience.
"As of 8 January 2018 we have made a change to the way restaurants are charged to process Just Eat orders - a 50p service charge will be implemented for all orders," a Just Eat spokesperson said.
"The 50p charge simply means that along with our restaurant partners, we can continue to deliver the best possible takeaway experience, and applying the charge equally across the customer base, ensures fairness for all."
The new rules
The new rules on card charges will apply to any UK company selling to UK consumers and will also include American Express and other payment methods such as PayPal or Apple Pay.
Surcharging by local councils and government agencies, such as the DVLA, will also be banned.
The law also follows an EU directive, meaning companies across the EU will also be banned from applying this surcharge. Current rules state that companies should only charge customers what it costs them to process a debit/credit card.
However, there are fear that banning this surcharge will lead to businesses, especially smaller ones, to increase their prices.


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on Monday announced that the first batch of 40 tons of medical oxygen —imported from Chile— will arrive in Peru this weekend, noting that said supply will be repeated every week.
According to Ugarte, the import of oxygen —which will continue in the coming three to four months— will help reduce the oxygen deficit in the country.
"I am able to report that the first shipment of oxygen imported from Chile will arrive this weekend. It contains 40 tons of oxygen. This involves more than one shipment. In fact, 40 tons will be shipped every week," he emphasized.
The government official explained that oxygen will be distributed based on the demand's priorities at the national level.
At this moment, the peak in demand is on the central coast (Lima, Callao, Ica) as well as in central highlands (Huanuco, Cerro de Pasco, Junin, Huancavelica, among other regions).
"We must focus on these regions as a priority, but it does not mean that other oxygen-related strategies cannot be implemented at the national level," he pointed out.
Remarks were made during a joint session of Congressional Commissions on Foreign Trade and Foreign Affairs.


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Tuesday, July 12th. Make Today Count! Tue, Jul 19, 2016
Good Morning Crusaders! Happy Prime Day!
Amazon is holding its second annual Prime Day today. Half of all Amazon customers in the US ( 63 million) are now Prime subscribers. In his letter to shareholders earlier this year, Amazon CEO Jeff Bezos highlighted the company’s focus on Prime membership. “We want Prime to be such a good value, you’d be irresponsible not to be a member.” Today's Prime day will be bigger than ever, with more than 100,000 deals. Last year Prime Day was a huge success for SlideBelts. Sales for the day alone topped $38,000. I will keep you posted on how we do for today's Prime Day.


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It’s hard to believe, but it’s been almost a full year since the current generation of consoles was blessed with great titles such as The Orange Box, Halo 3, and Call of Duty 4. The holiday months are here again, and are offering a greater and wider variety of great games than last year’s historic season.
Gears of War 2
The original Gears of War was a critical and commercial success when it was released in 2006. The hype for the sequel could not possibly be higher.
The horrible Locus Hoard has driven humanity to seek refuge in one final city and with nothing left to defend, its only choice is to attack. Players will once again be fighting and curb stomping Locus as Marcus Fenix.
However, the original Gears wasn’t perfect. The most common complaints were how short the campaign was and how repetitive the enemies seemed as the game dragged on.
Of course, Epic has heard these complaints and fixed them. Players can expect a much more reasonable 8-10 hour campaign in Gears of War 2, with plenty of incentives to play it again.
Also, the players won’t just be fighting the normal, human-sized locus now. Many players remember the Brumak, and how terrifying and huge that enemy was.
Lead Designer Cliff Blizenski claims that in Gears 2, there are enemies that “make the Brumak looked like a tiny stuffed panda bear.”
New additions to the series include a five versus five multiplayer mode as well.
Bigger and grander, Gears of War 2 will be more than capable of carrying Microsoft’s flag this holiday season, as it could become the highest grossing game released.
The best launch title for the PS3 was undoubtedly Resistance: Fall of Man.
It did have its share of problems however, including a lack of color and less than stellar graphics. Yet, Insomniac was not content with just fixing those aspects of its game, because they are trying to create to create the best console FPS ever.
Players will again be fighting the Chimera but not always the same enemy types. Bosses are rarely found in an FPS, but Insomniac has put many 200-foot monstrosities in this game.
The main draw, however, for Resistance 2 is its multiplayer. It will have an entirely separate eight-player co-op campaign with its own unique story, as well as up to 60-person competitive multiplayer. Neither have ever been achieved on consoles.
With new guns, new enemies, huge bosses and a multiplayer segment unheard of on consoles, it seems Resistance 2 will be more than capable of surpassing the original. If it can deliver on all its promises, this will be the must-have title on any console.
Call of Duty 5 (COD5)
Many would argue that going back to WWII and abandoning the modern war setting that made COD4 so great would not be a step in the right direction. However, with more than two years of development put into Call of Duty 5 by Treyarch, the makers of Call of Duty 3 (Infinity Ward made COD4), and an underutilized pacific war setting, the game does not look like it will just be a hold over until the next Infinity Ward title.
The shift to pacific lands has also come along with a much more mature, graphic tone for the game. It features cut scenes as disturbing as watching one of your squad mate’s throat be sliced open by a Japanese officer’s katana.
The biggest announcement that has garnered so much hype for the game is that there will finally be a co-op in Call of Duty. Up to four players at a time will be able to play through the entire campaign in splitscreen or online.
It has a new setting and what looks like the fast-paced combat everyone loved from COD4. People’s most optimistic expectations for COD5 was that it can be at least half the game COD4 was, but if the end result is as good as the game looks right now, it will set the bar high.


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Need for Speed will be at gamescom 2015 this week, and you know what that means.
Need for Speed developers at Ghost Games have announced that the upcoming racer will be playable on the show floor for the first time.
Not only that, but during EA’s conference on Wednesday, August 5, new gameplay footage will be shown to all. As for the playable build, players will have access to five cars and a few of the in-game events. They will be able to use the game’s extensive customization feature too.
EA’s conference takes place 9:30 CEST, 8:30 BST, 3:30 EDT and 00:30 PDT.
We’ll be bringing your live blogs from the show floor, as well as extensive news coverage.


text: NEW YORK (MarketWatch) -- Staples Inc. spls on Tuesday said third-quarter net income for the three months ended Nov. 1 fell 43% to $157 million, or 22 cents a share, from $274.5 million, or 38 cents a share in the year-ago period. Adjusted earnings at the Framingham, Mass. office products retailer remained flat at 42 cents a share. Sales increased 34% to $7 billion. Adjusted sales fell 3% to $5 billion. Wall Street analysts expected earnings of 41 cents a share and revenue of $6.84 billion, according to a survey by FactSet Research.


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While rumors are circulating that Apple is gearing up to release a new Apple Watch Pro line this fall to replace the Apple Watch Edition, the high-end smartwatch is getting harder and harder to find. In fact, almost every model of the Apple Watch Edition is currently unavailable for purchase on Apple’s website.
That probably means that the rumors are true and that the Apple Watch Edition is not long in coming. Apple is reportedly replacing the high-end Apple Watch with a new larger model with a rugged casing and similarly high-quality materials. It would be the first time Apple released a watch this big and different from the other models.
The Apple Watch Edition has a long and expensive history. The original edition was made of solid gold and cost an eye-watering $10,000 (and more). It was sold in boutiques and came with a special commemorative box and cleaning cloth. Future models weren’t as lavish, but they all had much higher price tags than the standard version:
- Apple Watch Edition (Series 0): Solid Gold ($10,000 – $17,000)
- Apple Watch Edition (Series 2): Ceramics ($1,249-$1,349)
- Apple Watch Edition (Series 3): Ceramics ($1,249-$1,349)
- Apple Watch Edition (Series 5): Ceramics ($1,249-$1,349)
- Apple Watch Edition (Series 5): Titan ($799-$899)
- Apple Watch Edition (Series 6): Titan ($799-$899)
- Apple Watch Edition (Series 7): Titan ($799-$899)
Apple briefly stopped selling the Apple Watch Edition in 2018, with the redesigned Series 4, but brought it back a year later. The current Apple Watch edition isn’t Apple’s most expensive watch — that honor goes to the Apple Watch Hermes, which starts at $1,229 for a stainless steel watch with a nylon strap.
The new Apple Watch Pro is also expected to come in a titanium case, but with a more robust exterior to withstand extreme sports. The watch is likely to make its debut alongside the iPhone 14 at an event in September.


text: Weight loss medicine have been in the highlight. But they’re only one facet of a rising give attention to well being — on the a part of each customers and governments. The Covid-19 pandemic was an enormous issue behind the rising give attention to weight and its implications for well being, Morgan Stanley famous. “Thus well being (or wellness) has develop into extra of a driver of weight reduction than the need to evolve to a sure look; we notice that at the identical time as the speedy rise in weight reduction drug adoption, there has additionally been a robust motion (supported by social media) to destigmatise weight problems and encourage physique confidence,” it wrote. Wellness goes past weight reduction — it additionally encompasses health, diet, look, sleep and mindfulness, the financial institution wrote, citing a McKinsey survey, which confirmed confirmed that millennials are focusing extra on these elements. The financial institution famous that the enhance in health-care spending — each in absolute phrases and as a proportion of gross home product — has elevated the give attention to implementing insurance policies that deal with these points. “Even earlier than GLP-1s hit the headlines, developed markets coverage was shifting to a extra interventionist method to client well being,” Morgan Stanley wrote in a Nov. 1 report, referring to glucagon-like peptide-1 medicine initially developed for diabetes but additionally popularly used for weight reduction. “The price of treating obesity-related illnesses, and the lack of employee productiveness, makes continued intervention probably, in our view,” the financial institution added. Such medicine are additionally affecting dietary habits: Walmart mentioned final month it’s seeing a “slight change” in the means folks store for meals , which can be due partially to clients shopping for much less whereas utilizing appetite-suppressing drugs like diabetes medicine Mounjaro and Wegovy. “While the notion could also be that the US has been main the means in the adoption of weight reduction medicine, Europe has develop into comparatively extra interventionist from a coverage perspective, in the type of elevated taxes/restrictions on merchandise that are deemed unhealthy, and methods designed to push the broader inhabitants in the direction of higher well being,” Morgan Stanley mentioned. CNBC Pro takes a have a look at the stocks Morgan Stanley says will be affected by these tendencies — each positively and negatively. Beneficiaries Morgan Stanley mentioned “practical” meals, waters, skincare and cosmetics, and client well being needs to be effectively positioned. The wellness development needs to be constructive for firms that give attention to nutrient-dense meals, comparable to protein powders and different protein-enhanced meals like premium yogurts, the financial institution mentioned. French meals producer Danone is effectively positioned for the “world shift to wellness,” the financial institution mentioned, including that all three divisions in the firm may benefit: important dairy and plant-based merchandise; water merchandise; and specialised diet. Morgan Stanley upgraded its score for Danone to “chubby.” It additionally reiterated its chubby score on Glanbia — a serious producer of protein powders in the United States — in addition to Nestle , which it mentioned needs to be “broadly impartial” to the GLP-1 debate. But the financial institution mentioned Nestle has the potential to seize upside in the wellness development via its diet division, which produces protein powders and dietary supplements. The financial institution mentioned the “private care” class ought to proceed to benefit, due to the “elevated affiliation of trying good with feeling good,” mentioned the financial institution. “We suppose the “medicalisation” of skincare will proceed, with elevated uptake of energetic/dermatological merchandise, together with SPF, as pores and skin well being significance grows,” it added. It listed L’Oreal , Beiersdorf and Intercos as key beneficiaries. “We notice additionally that customers spending much less on grocery will have extra disposable earnings, mitigating near-term considerations that some buyers have round spending on the extra discretionary magnificence class,” mentioned Morgan Stanley. At threat Alcoholic drinks and smooth drinks seem like amongst classes most affected by the GLP-1 development and the give attention to wellness, Morgan Stanley mentioned. That’s as a result of medical research have proven that GLP-1 medicine will be efficient in decreasing alcohol consumption and relapse-drinking behaviors, the financial institution mentioned. Alcoholic beverage firms in its listing of stocks with an underweight score embrace Diageo and Remy Cointreau . Beers needs to be the least affected, Morgan Stanley mentioned. “GLP-1 uptake at the moment skews closely in the direction of ladies, which suggests that beer consumption, which skews male, needs to be much less impacted, at the very least in the brief to medium time period.” Brewer Anheuser-Busch Inbev is the finest positioned, it mentioned. As for smooth drinks, there’s been a “notable shift” towards low- or no-calorie drinks, which ought to “soften any potential impression,” the financial institution mentioned. British smooth drinks producer Britvic needs to be higher positioned than Fever-Tree, which produces mixers and could possibly be affected by weak spot in the spirits class. — CNBC’s Michael Bloom contributed to this report.


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During its opening keynote at WWDC 2019, Apple announced the next version of iOS packed with new features and improvements.
To start, iOS 13 brings a ton of performance improvements to the mobile platform. Apple has changed how iOS packages apps. For users, this means that app updates are 60 percent smaller and downloads are 50 percent smaller.
Additionally, apps launch up to two times faster with the new app packaging on iOS 13.
The Cupertino-based company also said that Face ID now unlocks up to 30 percent faster.
On top of that, Apple also announced a new dark mode and swipe-to-type features, called QuickPath, in iOS 13.
On the app side, Apple announced a revamped Reminders app and several significant improvements to Apple Maps, like Favourites, Collections and ‘Look Around.’ Apple also said that it rebuilt the basemap for Maps from the ground up with high-res 3D photography. It will roll out across the U.S. by the end of 2019 and come to more countries next year.
Apple also touted Maps’ privacy features.
Speaking of privacy, Apple is adding new privacy features in iOS 13. For example, users can now require apps to ask for location access each time it wants it. Additionally, Apple shut own workarounds like Bluetooth and Wi-Fi tracking.
The company also announced ‘Sign In with Apple’ at WWDC 2019. Sign In with Apple works like similar Sign In with Google and Sign In with Facebook buttons, but maintains your privacy and doesn’t track you.
Further, when you sign up for a new app or account, Apple can provide it with a randomly generated email address that forwards the information to your real email address.
When it comes to Messages, Apple will now let users share their name and photo (or Memoji) with the message. Also, Apple announced several new customizations for its Memoji platform, including new hats, glasses, piercings, AirPods and more.
Users can also use Memoji Stickers, and Apple has added Memoji to the keyboard so you can send Memoji emoji. Plus, support for creating Memoji is coming to all devices with an A9 chip or later — but only iPhone X series devices can use the animation features.
Improvements to HomePod, AirPods and more
AirPods users can now enjoy message announcements through their true wireless headphones. Whether you’re riding an exercise bike or going for a stroll, Siri can read out messages from Apple Messages and other apps as they come through.
Apple also announced a new software feature for AirPods and HomePod called Hand Off. This makes it easy to share what you’re listening to by bringing together two iPhones, or an iPhone and a HomePod. For example, if you’re listening to a song and you want to share it with a friend, bring both iPhones together and tap to send the song to your friend.
Additionally, HomePod can now recognize different users voices and provide personalized responses depending on who asks a question.
Apple brought improvements to Siri in iOS 13 as well, including Neural Text-to-speech (TTS). Neural TTS allows Siri to speak more naturally.
Finally, Apple mentioned at the end of its iOS presentation that there’s now a way to deal with call spam by sending incoming calls directly to voicemail.
Updates to Photos and more
Apple added a wealth of machine learning features to its Photos app to help improve how users can find and view pictures. Machine learning can help curate your library to highlight the best images and automatically hide clutter and similar photos. Additionally, machine learning can help showcase significant events from the past day, month or year.
The Cupertino-based company also announced new tools for photo editing, such as effects. Plus, iOS 13 brings all the photo editing tools to video.
Apple introduced several other improtant features, like Voice Control so users can operate their iPhone, iPad or Mac entirely with their voice, improve text editing photos, an update to the Files app and more.


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The Role of Government in Expanding Car Charging Infrastructure
Electric vehicles (EVs) have gained significant popularity in recent years as a sustainable alternative to traditional gasoline-powered cars. However, one of the major challenges faced by EV owners is the availability of charging infrastructure. To address this issue, governments around the world have taken an active role in expanding car charging infrastructure. This article explores the various ways in which governments can play a crucial role in promoting and supporting the growth of car charging infrastructure.
The Need for Car Charging Infrastructure
As the demand for electric vehicles continues to rise, the need for a robust and widespread car charging infrastructure becomes increasingly important. Without an adequate charging network, EV owners face range anxiety, limiting their ability to travel long distances and making EVs less practical for everyday use. Additionally, the lack of charging infrastructure hinders the adoption of electric vehicles, as potential buyers are deterred by the inconvenience of finding a charging station.
Furthermore, the transition to electric vehicles is a key component of global efforts to reduce greenhouse gas emissions and combat climate change. The transportation sector is a significant contributor to carbon emissions, and widespread adoption of electric vehicles can help mitigate this impact. However, without a reliable and accessible charging infrastructure, achieving this transition becomes challenging.
Government Incentives and Funding
One of the primary ways in which governments can support the expansion of car charging infrastructure is through the provision of incentives and funding. By offering financial incentives, such as tax credits or grants, governments can encourage private entities to invest in the development of charging stations. These incentives can help offset the initial costs associated with installing charging infrastructure, making it more attractive for businesses and individuals to participate in the market.
For example, the United States government offers a federal tax credit of up to $7,500 for the purchase of an electric vehicle. Additionally, many states provide additional incentives, such as rebates or grants, for the installation of charging stations. These incentives not only encourage individuals to adopt electric vehicles but also incentivize businesses to invest in charging infrastructure.
In addition to financial incentives, governments can also allocate funding specifically for the expansion of car charging infrastructure. This funding can be used to build public charging stations in strategic locations, such as highways or urban centers, where the demand for charging is high. By investing in public charging infrastructure, governments can ensure that EV owners have access to reliable charging options, thereby increasing the attractiveness of electric vehicles.
Regulatory Framework and Standards
Another crucial role that governments can play in expanding car charging infrastructure is the establishment of a regulatory framework and standards. By setting clear guidelines and regulations, governments can create a favorable environment for the development and operation of charging stations.
One aspect of the regulatory framework is the standardization of charging connectors and protocols. Currently, there are multiple types of connectors and charging standards used by different manufacturers, which can create confusion and inconvenience for EV owners. Governments can work with industry stakeholders to establish a unified standard, ensuring compatibility and interoperability among different charging stations.
Furthermore, governments can regulate the pricing and accessibility of charging infrastructure. By implementing regulations that prevent price gouging and ensure fair access to charging stations, governments can protect the interests of EV owners and promote a competitive market for charging services.
Collaboration between the public and private sectors is essential for the successful expansion of car charging infrastructure. Governments can foster public-private partnerships to leverage the expertise and resources of both sectors.
One way in which governments can facilitate these partnerships is by providing grants or subsidies to private entities for the installation of charging stations. In return, private companies can commit to certain service level agreements, such as maintaining a certain number of charging stations or providing 24/7 customer support. This collaboration ensures that the charging infrastructure is well-maintained and meets the needs of EV owners.
Moreover, governments can work with private companies to identify suitable locations for charging stations. By leveraging data and insights from private entities, governments can strategically plan the placement of charging infrastructure, maximizing its accessibility and convenience for EV owners.
Education and Awareness
Lastly, governments can play a crucial role in educating the public and raising awareness about electric vehicles and the importance of car charging infrastructure. By providing accurate and accessible information, governments can dispel myths and misconceptions surrounding electric vehicles, addressing concerns such as range anxiety and charging times.
Furthermore, governments can collaborate with educational institutions and industry associations to develop training programs for technicians and professionals involved in the installation and maintenance of charging infrastructure. This ensures that there is a skilled workforce capable of supporting the growth of car charging infrastructure.
The role of government in expanding car charging infrastructure is crucial for the widespread adoption of electric vehicles. By providing incentives and funding, establishing a regulatory framework, fostering public-private partnerships, and promoting education and awareness, governments can create an environment conducive to the growth of car charging infrastructure. As electric vehicles become increasingly prevalent, it is essential for governments to take an active role in supporting the development of a robust and accessible charging network. Only through these concerted efforts can we overcome the challenges associated with EV adoption and pave the way for a sustainable future.


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Pork chops, bacon-- you name it. Despite higher price tags last year due to a perceived pork shortage, these products have been in high demand.
“Domestic meat demand has been outstanding the last several years,” says Steve Meyer, Vice President of Pork Analysis for Express Markets, Inc.
Now the industry hopes demand will increase internationally, as appetites grow in other countries.
“TPP (Trans Pacific Partnership) as we look at it, is the single greatest economic driver in trade that we've ever seen or will ever see on the pork side,” says Ken Maschhoff, National Pork Producers Council (NPPC) Vice President.
The Trans Pacific Partnership is currently being negotiated among a dozen countries, all located along the Pacific Rim. Those countries account for 40 percent of world trade.
The sticking point for pork has been Japan with the country threatening to only reduce tariffs by half.
“In the last decade, we have always gone to zero with our tariffs,” says Howard Hill, Past President of NPPC. “So, that's what we expect out of the TPP partners."
Pork producers say if tariffs are eliminated, Japan has the potential of becoming the united sates' highest value market. Meyer says that would be a game changer for the amount of pork shipped.
“If those are successful, they will take a part that safeguard mechanism that has caused us to have to ship very high value product to Japan and open up all of that lower value market that's basically not available to us now,” says Meyer.
That's in addition to the $6.6 billion worth of pork already shipped each year, accounting for nearly a third of total production here at home. However, so far this year, exports to the Asian market have been very weak. Maschhoff says the recent port labor disputes in the west coast are partially to blame.
“We export 60 percent of our pork, goes on water,” says Maschhoff. “Of that, 80 percent goes off West Coast Ports.”
Meyer thinks it's the long-term impact from Port closures and delays that could cut deeper.
“We've kind of burned some bridges as a dependable supplier,” explains Meyer. “We've got to go back in and reestablish those relationships and reearn that shelf space for retail in Asia, that’s going to take some time to overcome that."
Another trade relationship that needs strengthened is China.
“Long-term, we still think China is a large growth market,” says Meyer. “You've got 1.3 billion people, you've got a huge number of them moving to the middle class, they cannot raise enough pork to feed that population.”
Meyer says the strong U.S dollar is also hurting exports to china. They can simply get pork from the EU, Canada and Brazil cheaper.
But today, it's the strong demand from our neighbors to the south that's driving exports; however, what happens in country of origin labeling is weighing on the market.
“Mexico last year for the first time for a year, remains well ahead of japan this year. The concern there is country of origin labeling tariffs and what that might do."


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Source: Lifestyle Travel Photo, Shutterstock
- American retail giant Target Corporation (NYSE:TGT, TGT:US) has beaten Wall Street’s estimates with its latest earnings released on Tuesday.
- As the big box retailer gained from the pandemic-triggered shopping spree last year, Target’s 2020 sales ballooned by over US$ 15 billion year-over-year (YoY).
- Target’s net earnings rose by over 33 per cent YoY to US$ 4.368 billion.
Propelled by increased sales during the holiday season and stimulus checks, American retail giant Target Corporation (NYSE:TGT, TGT:US) has beaten Wall Street’s estimates with its latest earnings released on Tuesday, March 2.
As Target gained from the pandemic-triggered shopping spree last year, Target’s 2020 sales ballooned by over US$ 15 billion year-over-year (YoY), which was greater than its total sales growth in the previous 11 years.
The big-box retailer’s net income expanded by nearly 66 per cent YoY to US$ 1.38 billion in the three months ending 30 January 2021. Its net earnings per share (EPS) for the fourth quarter climbed over 67 per cent YoY to US$ 2.76, which was more than the US$ 2.54 EPS estimated by analysts, Refinitiv said. As for fiscal 2020, Target’s net earnings rose by over 33 per cent YoY to US$ 4.368 billion.
Target stocks were down by less than one per cent in the premarket hours of Tuesday, March 2 (7.53AM EST). Going by Monday’s closing price of US$ 186.09, its shares have rocketed by almost 81 per cent in the past one year.
Let’s take a closer look at Target’s latest financials to know more.
Target Corporation (NYSE:TGT, TGT:US) Latest Financials
Target’s annual sales surged by nearly 20 per cent YoY to US$ 92.4 billion in 2020, while it was up 21 per cent YoY in the fourth quarter to total at US$ 27.9 billion. Its comparable sales increased 20.5 per cent YoY, while digital comparable sales catapulted by 118 per cent YoY.
©Kalkine Group 2021
Its revenue for Q4 rose 21 per cent YoY to US$ 28.34 billion, noticeably up from analysts’ projection of US$ 27.48 billion.
The Minneapolis-based retailer’s digital sales surged by nearly US$ 10 billion in 2020, which the company said was primarily boosted by a 235 per cent increase in its same-day services.
Target’s online sales reportedly picked up pace in January as Americans were given stimulus checks of US$ 600.
©Kalkine Group 2021
While most of its competitors in the retail business landscape suffered sales decline amid the pandemic, Target up-ed its game by expanding its e-commerce offerings. Referring to internal and third-party surveys, Target claimed that it gained some US$ 9 billion in market share in the latest fiscal year.
The company, however, refrained from providing a projection for the year ahead, saying that the impact of COVID-19 has made predicting consumer shopping patterns difficult.
But considering Target’s inflated sales numbers in the latest quarter and fiscal year amid the pandemic, it can be expected that the retail giant will face some challenges in living up to these standards if and when COVID-19 subsides.
As inoculation campaigns ramp up and more customers return to the old practices of heading to their favorite brick-and-mortar stores or travelling further, Target sales could likely come down back to earth. But then again, if the pandemic continues to rage, the scenario could just as much be the opposite.


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A global PropTech startup is making a network of thousands of fully furnished apartments in 15 cities across the globe available with one pass.
The Blueground Pass is a yearly or half-yearly lease with the opportunity to move between apartments, neighbourhoods, and cities across the globe.
Digital nomads looking to work from different places around the world can access 4,500 apartments across three continents, with Blueground claiming the spaces are consistently tech-enabled.
“As we come out of a period where most of us did not go further than our local grocery store, we are seeing more and more of our guests asking us to facilitate their renewed appetite to explore new locations, while continuing to work remotely,” said Alex Chatzieleftheriou, co-founder and CEO.
“Currently, 20% of Blueground guests are working remotely and another 32% are on a temporary work assignment – bringing to life the demand that led to the creation of the Blueground Pass.”
Passholders have the option to freeze up to two months and four months depending on their lease length. They can move between as few as two apartments or as many as 12, with no need to plan more than 30 days ahead of their next move.
The firm also offers 24/7 support through the Blueground Guest App, with in-app check-in and check-out, as well as a portfolio of service partners offering concierge-style services from cleaning to meal kits and wine delivery.


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Nokia Mobile started sending invitations for the upcoming launch of new Nokia devices. The press event is scheduled, as always, a day before the start of Mobile World Congress 2020 in Barcelona. On 23rd February, starting at 16:00 Barcelona time, new Nokia devices will be announced.
Different information that surfaced on the internet lead us to expect up to five new Nokia devices – 3 smartphones and 2 feature phones. A 5G Nokia 8.2, Nokia 5.2, Nokia 1.3 on the smartphone side and a new Nokia Originals device and an Android-powered feature phone called Nokia 400 4G.
The announcement will take place in Barcelona on 23rd February 2020. To get your local time for the start of Nokia Mobile’s event, click here for a timeanddate.com-provided local event time.


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PayPal and Mastercard Extend Instant Transfer to Singapore & EuropeNovember 27, 2019 | By Seth Eisen
- Through its long-standing partnership with Mastercard, PayPal is extending its Instant Transfer solution to Singapore and multiple European markets
- Through Mastercard Send,™ PayPal customers can transfer funds from their PayPal wallets to their Mastercard cards in real-time*
Following the success of its Instant Transfer feature in the U.S., PayPal and Mastercard recently extended the service to Mastercard cardholders in Singapore and a number of European countries.
Mastercard Send™ is an application that leverages the card network infrastructure to facilitate the secure availability of funds in real-time*. With Mastercard Send™, PayPal users can transfer their account balances to eligible Mastercard cards seamlessly and conveniently, typically within seconds*.
Since 2017, this service has allowed millions of Mastercard cardholders to transfer their PayPal balances to an eligible Mastercard card.
Since sales proceeds are available immediately*, Instant Transfer allows PayPal’s business users to optimize cash flow and improve liquidity. Mastercard issuers could see increased consumer engagement as a result of the Instant Transfer feature in the PayPal wallet.[i]
Shari Krikorian, Senior Vice President, Products and Innovation at Mastercard comments: “We are excited to partner with PayPal on its wider roll-out of Instant Transfer to more users in more markets beyond the U.S. This extension to our long-standing partnership with PayPal is another example of how we are leveraging our joint expertise and focusing on innovation to help even more people access their money quickly and easily.”
Jennifer Marriner, Vice President, Global Markets and Partnerships at PayPal comments:“Providing instant access to funds requires innovation and partnership within the financial industry in order to deliver an ideal customer experience. At PayPal, we are constantly innovating and working with important partners like Mastercard to deliver on these innovations. By expanding Mastercard Send into new countries it adds another choice for our customers to access their money even faster.”
PayPal will launch its Instant Transfer with Mastercard Send™ in Singapore followed by multiple European markets.
* Actual posting times for approved transactions will depend on the receiving financial institution.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 295 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.


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The TSA is taking the brakes off the tax it levies on fliers, doubling (and more) the charge built into your plane ticket.
The new charge -- which may still be blocked by Congress -- more than doubles the fees charged on each leg of your flight, and removes the previous cap on the charge, so a flight with many hops could rise precipitously. Overall, the average domestic US plane journey fare is set to rise more than 5% on the charge, which will raise an estimated $16.9B over ten years (these estimates are often low).
New TSA fees to make airfare more expensive [Catey Hill/MarketWatch]
(Image: Threat Level: Doctorow)
In 2012, Google rolled out Certificate Transparency, a clever system to spot corrupt “Certificate Authorities,” the entities who hand out the cryptographic certificates that secure the web. If Certificate Authorities fail to do their jobs, they put the entire electronic realm in danger — bad certificates could allow anything from eavesdropping on financial transactions to […]
With the shambolic FARC peace deal finally in place, the Colombian government is hoping to shift the country’s farmers from Colombia’s major cash crop: the coca leaves that are refined into the world’s cocaine supply. Perhaps with the guerrillas no longer defending the crops they relied on for operating capital, Colombia can put coca behind […]
Despite Trump’s denial of climate change the the ghastly attacks on climate science and mitigation in the new proposed budget, the Carbon Bubble — which overprices hydrocarbons and the industries that rely on them, as though we’ll be burning all of them with impunity — is about to pop.
Custom coffee vessels are the perfect piece of office flair, but it’s just a matter of time before your VOTE FOR PEDRO mug will start to lose its relevant wit. Why not have a new one every day, with whatever silly nonsense you want sticking off the sides? You can save big on your novelty […]
The Lightning port has thus far resisted the cruel fate that befell the headphone jack, and despite rumors that it may be disappearing come iPhone 8, for the present and foreseeable future, Lightning cables are a hot commodity for iPhone users. As such, we must make do in this strange time in which long, glorified […]
All the filters in the world won’t save your smartphone pics from a shaky hand. To really step up your mobile photography game, you’ll need some kind of mount to hold it steady. You could buy a smartphone attachment for a conventional camera tripod, but who wants to carry that kind of gear everywhere they […]


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Local producers support wine festival
Only a few stands remaining in produce marquee.
The organisers of the inaugural Honiton Wine Festival are poised to start recruiting vineyards to take part in the one-day event.
Nigel Reeve, of Marketing West, told business leaders last week that four marquees will be used to showcase local produce as well as wines and fruit juices.
The local produce marque is already well-subscribed, with only a few stands remaining.
Otter Valley Dairy, Olives Et Al and Burts Chips were confirmed as among those companies already signed up.
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Roger Hemming Estate Agents and Alchemy Systems, both Honiton-based businesses, were named as official sponsors.
Mr Reeve told the Midweek Herald: “We have always said we would ensure local businesses get the first option to be at the festival.
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“To make sure nobody is disappointed we initially blocked off a number of stands in the local produce marquee for local traders and we are now contacting them.
“However, if anyone is missed, we ask that they contact us as soon as possible before these last stands are gone.”
The wine festival is taking place on Allhallows Playing Field on July 28 to coincide with Market Charter Day.
To find out more about the festival call Mr Reeve on 01308 861606


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Solvay SA of Belgium announced three major changes to its global plastics businesses Oct. 2, including a PVC partnership with BASF AG of Ludwigshafen, Germany, which will create the world's fourth-largest PVC maker.
Solvay also will create a partnership for a portion of its high density polyethylene business and technology with Petrofina SA of Belgium and close a PVC plant in Ferrara, Italy.
Solvay will own 75 percent of the BASF joint venture, which will be headquartered in Brussels, Belgium, and will be managed by Solvay. BASF will contribute about 660 million pounds of annual PVC capacity to the deal, with Solvay adding almost 2 billion pounds of capacity.
The BASF facilities are located in Ludwigshafen and Antwerp, Belgium, while Solvay's European PVC production is in Jemeppe, Belgium; Rheinberg, Germany; and Tavaux, France.
The venture will be Europe's second-largest PVC maker, trailing only the recent merger of EVC International NV and Norsk Hydro ASA. Globally, Solvay/BASF will trail only Taiwan's Formosa Group, the recently announced U.S. merger of Geon Co. and Occidental Chemical Co., and Shin-Etsu Corp. of Tokyo.
Solvay officials said the move will reinforce the company's competitiveness and low-cost position in commodities.
``It is worthless being a leader in commodities without being the lowest cost leader,'' Solvay's Alois Michielsen said at an Oct. 2 news conference. ``You don't run commodities with the cost structure of specialties.'' Michielsen is the chairman of the executive committee of Solvay Group.
The joint venture, which also includes several of the company's European polyvinyl dichloride, vinyl chloride monomer, chlorine and vinyl dichloride assets, will employ 2,240.
BASF officials described the deal as ``the ideal solution.''
BASF polyurethane/PVC group leader Jean-Pierre Dhanls said in a news release the venture will enable BASF to strengthen a relatively small business and guarantee continued involvement in the positive development of PVC.
Company officials also pointed out PVC is ``not a core business for BASF.''
In HDPE, Solvay and Fina will share production at a pair of plants that are planned for Belgium. Solvay will build a plant to open in 2002, while a Fina-built plant is set to open in 2005. Each plant will have annual capacity of 550 million pounds.
Fina also will provide Solvay a global license for its metallocene technology, while Solvay will do the same for Fina with its chromium catalyst HDPE production.
The deal should provide both companies with economies of scale and allow for increased utilization rates. Solvay controls 2.8 billion pounds of global HDPE production, ranking second globally behind Equistar Chemicals. Fina expects to control 2 billion pounds by 1999.
Solvay's Ferrara PVC plant, which employs 150 and has capacity of 210 million pounds annually, is being closed because it doesn't match international standards for size and VCM access. Solvay officials said market conditions don't justify the investment needed to integrate and expand the site to meet these standards. Industry consultant Pat Duke of DeWitt & Co. in Houston said the Solvay/BASF PVC deal had been rumored for some time and made sense for both companies, particularly in light of the sagging prices and profits of the European PVC market.
The Solvay/Fina HDPE partnership is a little harder to understand, Duke said, since it doesn't include the companies' existing HDPE businesses and, since both plants would be in Belgium, does not add anything from a logistics angle.
``This just looks like a piece of a puzzle,'' Duke said. ``We might see something going on on a larger scale between Fina and Solvay that would make sense on a global basis.''