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What to consider when building fintech solutions for financial inclusion
With the wide range of digital solutions on the market and smartphone penetration at an all-time high, financial exclusion ought to be a thing of the past. But adoption rates of such solutions amongst women in rural communities still aren’t high enough to make a real impact, despite countless applications promising to digitize cash-based economies, bank the unbanked, and encourage saving.
The primary institution tackling global financial inclusion is Women’s World Banking (WWB), a non-profit organization founded in 1976 to serve women who have been left out of the formal banking system. It is the largest network of microfinance institutions in the world and has broadened its scope to include policy advisory, investment, and consultancy on digital financial products.
The current WWB President and CEO, Mary Ellen Iskenderian, has held the position since 2006, overseeing the rollout of countless digital solutions in the years since. Jumpstart spoke to Iskenderian at RISEConf 2019 to learn more about introducing and optimizing fintech products in developing communities.
A complicated tapestry
“One big takeaway, that is absolutely consistent across pretty much every market we’re working in, is that the relevance to women really has to be proven. You can’t assume that what is relevant to men is going to be relevant to women,” says Iskenderian.
WWB takes a behavioral approach to how they look at financial products, as countless implicit cultural factors can affect the adoption of new technology. This lesson was reinforced in a recent case study on engagement strategies for women in Nigeria. WWB worked with mobile banking vendor Diamond Yello to acquire and retain more female users of the service.
In the early stages, it was clear that the onboarding process was reasonably straightforward, and the company didn’t encounter issues in this area. The problem was the number of dormant accounts, as women weren’t finding any relevant use cases that encouraged them to continue using the app.
“The women would say, My husband and I divide up the things that we pay for. He pays utility bills, and I pay school fees,” says Iskenderian. “If there were a way for them to pay school fees digitally, we would’ve had a different story.”
A similar project in Pakistan with mobile wallet vendor JazzCash yielded different, but equally telling results. The acquisition of female customers stalled because of one major, easily-overlooked problem: a male-majority agent network.
“If that intrepid Pakistani woman went into that male-owned shop, she then had to give her cellphone number to him […] which in that culture, was just really, really difficult,” says Iskenderian.
Technology offers new avenues
Many traditional financial institutions still don’t see a business case for serving women. Iskenderian believes that this is an opportunity for fintech startups to grab a slice of the pie, and data from past efforts has highlighted that it’s quite a sizeable pie.
“Women are better repayers, and they’re stickier savers. In both developed and developing countries, women buy more insurance than men do,” Iskenderian says. The problem is that in many formal banking systems, women are treated as second-class citizens.
In India, for instance, much of the resistance to banking stems from unpleasant experiences of being treated poorly, or not understanding how to use ATMs and other services. But once they were shown how to use the products and services, and it was demonstrated that they would work reliably every time, women became some of the most loyal customers.
“Women have done very well with peer-to-peer lending platforms, and anything that allows women to overcome barriers like collateral for lending, or additional sources of information that get fed into a credit score. If your fintech is disrupting these processes, it can be a real opportunity to serve women,” she says.
Catering to female users
While the number of digital solutions is increasing in leaps and bounds, more needs to be done to reach women and provide a relevant enough service to retain them. World Bank data from 2014 to 2017 on select Asian and African countries shows stark discrepancies in adoption rates and the type of products that succeed among women.
For instance, Ghana, Kenya, and Zimbabwe showed much higher adoption of digital payments and mobile money accounts than South and Southeast Asian countries. Comparing the lowest and highest numbers, 0.8% of Pakistani women and 69.4% of Kenyan women used mobile money accounts in 2017, representing a 64% decrease in Pakistan and a 26% increase in Kenya.
That said, digital payments (isolated from mobile money accounts) have grown exponentially in South Asia; the number of digital payments made and received by women in Bangladesh increased from 4.3% in 2014 to 21.2% in 2017.
WWB’s projects around the globe have uncovered many unquantifiable insights about women’s financial behavior, and the complex dynamic between married couples in countries where many important monetary decisions are still reserved for men.
For example, in cases of employed women who were previously paid in cash and are now paid directly to their bank accounts, their husbands are no longer able to access their hard-earned money. There is an understanding that money in a formal institution should be treated with respect, and this, in turn, is having a positive effect on the way women conduct themselves.
“Any time they have a greater sense of control over their resources, you really start to see that take shape in their sense of self-esteem, their sense of decision-making power in the household, or at least their voices being heard,” says Iskenderian.
Women’s unofficial role as household ‘risk mitigators’ is showing through in WWB’s research. The availability of digital credit and mobile money has uncovered a unique trend: while convenience is still important to women, they also appreciate having a separate account that makes it harder to access their money. This belief of keeping savings inaccessible is characteristic to women, and a preference that WWB has never heard from a man.
Although WWB’s roots lie in their microfinance network, technology has allowed the organization to partner with an ever-widening spectrum of companies, ranging from banks and insurance companies to telecoms and retailers. In fact, in some African countries, retailers like grocery stores are some of the foremost providers of financial services.
WWB’s commitment to technology can also be seen in their position as a founding partner of Facebook’s Libra, the social media titan’s offering to the digital assets space. Combining Facebook’s formidable reach with WWB’s client base–most of whom are the world’s low income and underbanked–could be a golden opportunity to boost inclusion.
As the case for financial inclusion becomes stronger and the benefits more tangible, it can be expected that the explosion of fintech products will narrow down to address specific problems in innovative ways. With new technologies, a greater understanding of the issue amongst policymakers, and better availability of data, there may be a key to unlocking the barriers holding the world back from greater inclusion.


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By Namugerwa Martha
In this current Economic recession in Uganda, many businesses have called it a quit; some have sent many of their employees’ home packing in order to suit the playing field.
Still on the same point, that brings me to a query whether Micro Finance Institutions will still stay in business despite losing clients day by day due to the rapid growth of other cash rendering services like Mobile Money.
Micro Finance institutions like Finca Uganda Limited have been declining in their profits since people no longer depositing or taking loans from the institutions.
James Onyutta, chief executive officer Finca Uganda Limited says that he is afraid that in time there will be no micro finance institutions due to a lot of losses that are being incurred lately in this financial sector.
“The people’s rate of borrowing or depositing money is very low and this is exerting a lot of pressure to Micro Finance Banks yet other money sectors like mobile money services are gaining a lot of profits lately,” Onyutta said.
People are more engaged in mobile money services because it is easy to access and also demand fewer profits unlike banks.
Meanwhile being a client on mobile money service, by saving with it a person can easily access a loan without being asked for many papers.
Do you have a story in your community or an opinion to share with us: Email us at firstname.lastname@example.org

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Telecom launches national commercial WiFi networkSeptember 27 - 10am
Telecom New Zealand today announced its plans to rapidly expand and commercialise its national WiFi network.
The telco has already turned selected public phone boxes into WiFi hotspots, with 700 hotspots live by October 7 and more than 2,000 hotspots expected to be live by the middle of 2014.
Speaking in Auckland this morning, Telecom Retail CEO Chris Quin also announced that from the same date the company will offer WiFi free to all Telecom mobile customers on pay-monthly plans and on the $19 and $29 prepaid packs.
Quin says Kiwis are using their smartphones and tablets in more and varied ways every day, and this means they’re using more and more mobile data.
“We want to encourage our customers to use as much data as possible, because we know how the smartphone applications and services they’re using are at the very centre of the way people now live, work and play,” he says.
“Adding free WiFi to their plans and packs is just another way that Telecom is helping our customers to make the most of their devices and to stay seamlessly connected on their smartphone, tablet or laptop anywhere, anytime.”
The WiFi network has been developed and implemented by Telecom Digital Ventures, the lean incubator-style business unit at Telecom designed to develop new business opportunities.
Digital Ventures SVP Mobility Ed Hyde says Telecom has extensively trialled the WiFi service since last Christmas, with close to 175,000 people already registered to use the service.
“Our WiFi network has already attracted a huge number of smartphone users – both Kiwis and visitors – who have enjoyed the ability to do more things on the go,” Hyde says.
Telecom’s WiFi network is spread throughout the country, with a particular concentration in the main population centres of Auckland, Wellington, and Christchurch and in key holiday spots.


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Jack Dorsey, the company’s co-founder and chairman, will serve as interim chief executive while the board searches for a permanent successor.
The change is effective July 1. Twitter shares were up more than 7 percent in after-hours trading immediately after the news was announced.
Since Twitter’s debut as a public company in 2013, Mr. Costolo has repeatedly disappointed Wall Street as the company struggled to attract new users, refine its products and develop new forms of advertising.
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(Recasts lede and adds CEO, analyst comment, detail.)
BRUSSELS (MarketWatch) -- Supermarket operator Delhaize Group NV DEG, -7.69% Thursday said it expects to perform well in any U.S. economic downturn, as it revealed a drop in fourth-quarter sales that met analysts' expectations.
The Belgian company, which does two-thirds of its business in the U.S., saw its shares rise 4% on the upbeat statement. At 0930 GMT, the stock was up 4% at EUR51.42, outperforming an 0.7% rise in the Bel-20. The shares have fallen about 17% over the past month in a generally negative stock market.
"We are preparing for another strong year in 2008," said Delhaize Chief Executive Pierre-Olivier Beckers. Despite uncertain economic conditions, "strong companies will be able to seize opportunities," he said.
Total fourth quarter sales fell 3.4% to EUR4.7 billion, from EUR4.8 billion, mainly due to the dollar's 11% fall against the euro compared with the last quarter of 2006. U.S. sales came in at $4.6 billion, up 4.5% from $4.4 billion, although comparable store sales rose 3.7%. Sales in Belgium were EUR1.14 billion, up 1.4% from EUR1.13 billion.
Analysts agreed that the company was well positioned to show resilience in any U.S. downturn due to its aggressive pricing strategy.
KBC analyst Pascale Weber noted that Delhaize has brought down prices, especially at its Food Lion stores, close to those offered by Wal-Mart Inc. WMT, -1.86%
The company operates the Food Lion, Hannaford and Sweet Bay chains in the U.S., as well as Delhaize supermarkets in Belgium. U.S. competitors Supervalu Inc. SVU, +10.55% and Family Dollar Stores Inc. (FD0) recently issued profit warnings citing nervous consumers.
Delhaize CEO Beckers said the company wouldreap benefits from recent initiatives, including revamps of its Sweetbay chain in the U.S. and price investments through the group.
The company is also planning to accelerate store openings, particularly in the U.S. where it wants to increase the sales network by between 146 and 156 stores.
But analysts cautioned that investors will still be concerned about the impact of a U.S. downturn and fierce competition on the company's domestic market.
Delhaize's full year sales came in at EUR19 billion, down 1.4% from EUR19.2 billion in 2006. The figure was slightly above analysts' estimates of EUR18.94 billion.
Company Web site: www.delhaizegroup.com/


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It looks like there’s a new excellent addition to the market of security camera systems by the company “Rogers”. This service will allow you to use your smart phone or tablet pc to control all of your home security cameras and alarm systems, as well as things such as thermostat, information on carbon monoxide levels, and even water leaks.
A security system that also lets homeowners control appliances and thermostats remotely using a smartphone is being offered by Rogers Communications.
Ian Pattinson, vice-president and general manager of Rogers Smart Home Monitoring, a new service that launched in Ontario Wednesday, said his family uses the system to arm security, turn off lights, automatically shut off devices such as a curling iron and adjust the thermostat in a single step when they leave home. Further adjustments can be made using his iPhone while he is out of the house.
“I’m connected everywhere,” he said at a media demonstration in Toronto. “If an alarm goes off, I have a better idea of what’s going on. This really gives the homeowner incredible control.”
This is very much along the same lines as the services offered by Verizon that we reported about just recently. It’s interesting to imagine how the future may be, with everyone able to control even the most minute of settings at their home remotely from any location in the world.
The technology, which Rogers hopes to make available outside Ontario soon, consists of an interactive touchpad that controls a typical security system monitored by Rogers from a central station for a monthly fee. The system has both cable and wireless connections, and is only available to Rogers cable high-speed internet customers.
It integrates email and text messaging to keep homeowners informed. Sensors and cameras detect motion, smoke or carbon monoxide or allow automatic or remote control of small appliances, thermostats or lights to save energy.
Adjustments can be made through the touchpad or through an iPhone or iPad app, although Android and BlackBerry apps are in the works.
Erica and Anthony Antonelli are among the 750 Rogers employees and their families who have been using the system recently as part of a final test before launch.
Anthony, 41, said he was initially most interested in the security features, as he and Erica, 39, have a new four-month-old daughter, Luciana. But the family has found other uses for it.
“The thermostat we use like 20 times a night,” he said, adding that there are several flights of stairs between the bedroom and the thermostat. Now the couple can make it warmer or colder using the iPad beside their bed.
Thankfully, the more this technology progresses and becomes more available, the more able we all will be to keep our families safe and sound no matter where we are in the world, or how far away.


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Earlier in the month VRFocus reported on news that developers Phenomenon Games and BulkyPix would be integrating support for the Oculus Rift virtual reality (VR) head-mounted display (HMD) into its PC top-down action shooter, Meltdown. Support was due to arrive via a free patch. Said patch, titled 1.7, has now arrived along with several other updates to the videogame. The developer has also released a VR FAQ so that fans can easily get the title up and running on their kits.
Meltdown is a PC and mobile title described as a tactical arcade shooter featuring both single and multiplayer modes. Players are cast as Zed, a solider fighting his way through a space station that’s suffered a system malfunction. Zed can level up and gather loot as he assaults 30 randomly generated levels. Players can pick from three specializations, each with their own skills, and battle three bosses. The Steam version of the experience costs £3.49 GBP.
Along with VR support, update 1.7 also improves Meltdown’s rendering pipeline, melee and rocket collisions, and bandana cloth physics. There’s also some fixes, including one for a broken Fury achievement, XInput crashes and a number of other small changes.
The VR FAQ reveals a number of other facts about the support, including that the developers will be integrating other HMDs ‘in the future’. These devices aren’t named, though could well include the HTC Vive, which is due for release in holiday 2015.
VRFocus will continue to follow Meltdown closely, reporting back with any other updates.


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Survey finds 7 out of 10 Americans unlikely to travel for holidays
SAN DIEGO (KUSI) – A new national survey commissioned by the American Hotel & Lodging Association (AHLA) shows that many Americans are not expected to travel this holiday seasons. Results show that 72% of Americans are unlikely to travel for Thanksgiving and 69% are unlikely to travel for Christmas, compounding the challenges for the hotel industry during this public health crisis.
Business travel has been even more impacted. Only 8% of Americans say they have taken an overnight business trip since March, and just 19% of respondents who are currently employed—or 8% of all adults—expect to travel for business within the next six months. Sixty-two percent (62%) of employed Americans have no plans to stay in a hotel for business.
The survey of 2,200 adults was conducted November 2-4, 2020 by Morning Consult on behalf of AHLA. Key findings of the survey include the following:
• Only 3 in 10 (32%) respondents have taken an overnight vacation or leisure trip since March
• 21% of Americans say they are likely to travel for Thanksgiving, 24% are likely to travel for Christmas
• Looking ahead to next year, 24% are likely to travel for spring break
• 44% say their next hotel stay for vacation or leisure travel will be a year or more from now or they have no plans to stay in a hotel
“This holiday season will be an especially difficult time for all Americans, and our industry is no exception” said Chip Rogers, president and CEO of the American Hotel & Lodging Association. “Fewer people will be traveling, and business travel remains nearly non-existent. That’s why it’s so important for Congress to pass a relief bill now. Millions of Americans are out of work, and thousands of small businesses are struggling to keep their doors open. We cannot afford to wait until the next Congress is sworn in for relief. They need help now.”
Chip Rogers, president and CEO of the American Hotel & Lodging Association, discussed the findings and what they mean to the hotel & lodging industry around the country on KUSI’s Good Morning San Diego.


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As we’ve reported previously, the Trump administration’s trade war has recently entangled electric bicycles, among other products, in billions of dollars worth of trade tariffs with China.
Now American electric bicycle companies are responding about how this could impact their businesses, generally for the worst.
The goal of the Trump administration’s trade war has been to penalize China for what it considers unfair trade practices that reduce the cost of their products – electric bicycles in this case.
In theory, increasing the prices of imported electric bicycles would allow US companies to better compete, giving them a chance to invest in local manufacturing of the necessary components.
However, there is actually very little US-based e-bike manufacturing as it is, as almost all e-bike dealers in the US import their e-bikes from abroad, mostly China.
So instead of giving US companies breathing room to manufacture their own e-bikes, the tariffs are largely just hurting the US electric bicycle industry by preventing it from importing and selling affordable e-bikes, without solving the underlying reasons causing US e-bike companies to choose not to manufacture their e-bikes in the US in the first place.
To help determine how the new tariffs would impact the US e-bike market, I spoke with a number of e-bike companies about what changes might be in store for the future of their businesses.
A bleak future for the US e-bike industry
As it turns out, the results don’t look good.
Both small and large e-bike businesses in the US are already reeling from the effects of the tariffs.
A representative for Ancheer, a California-based e-bike company that sells some of the most affordable e-bikes in the US, expressed dismay over the tariffs in an interview with Electrek. Ancheer will regrettably be raising prices on their electric bicycles, but intends to try to absorb some of the cost to avoid passing on the entire 25% tariff to their customers.
Rad Power Bikes, another US-based e-bike company, also plans to increase the prices of their electric bicycles. The company already announced that prices would increase by $200 on each of their e-bike models. According to the founders of Rad Power Bikes:
“Manufacturing in China allows us to achieve our quality and affordability standards while meeting a very high demand. We analyzed all of our manufacturing options when we started building e-bikes and continue to do so. It wasn’t, and still isn’t, feasible to manufacture in the U.S. for the price, quantity, and quality to which we are dedicated.”
Before news of the tariffs, Rad Power Bikes had been on track to achieve $50 million in sales this year – quite a feat for a company that started as an Indiegogo project only three years ago.
But with a sudden price increase in an industry that was only beginning to take hold in the US, the future of such explosive growth may be called into question.
Small e-bike businesses could be impacted even worse
But it isn’t just big companies that are hurting. Smaller electric bicycle companies are perhaps hit harder than anyone.
I spoke with Barent Hoffman, the owner of West Coast Electric Cycles, a high performance electric bicycle builder and components dealer, in a conversation about how the tariffs impact his small business:
“As an independent custom e-bike builder, I rely on components that are manufactured in enormous scale in Asia, at prices that cannot be matched by any American supplier.”
Hoffman described to Electrek how despite performing much of the assembly of his custom e-bikes himself in his Bellevue Washington WCEC shop, he is still reliant on parts that come from Asia.
And with the uncertainty of how long the tariffs will last, he is afraid to order more stock at 25% higher prices and potentially face the prospect of the tariffs being removed shortly afterwards on a whim of the current administration, leaving him stuck with artificially expensive inventory that is much harder to sell.
“The tariffs are detrimental for a small business like mine. I do not have the resources to develop domestic manufacturing, nor do I have the financial capacity to absorb the cost of the tariffs. It’s just an unfortunate situation to be in.”
Another independent e-bike dealership, Adam Solar Rides in Pittsburgh, Pennsylvania, is also feeling the crunch. With essentially zero low-cost electric bicycle manufacturers in the US, Adam Solar Rides imports their entire lineup of electric bicycles from abroad, mostly from China. Like many small businesses owners, they are left with questions about how exactly the unclear tariffs might affect them and other e-bike dealers.
According to the owner, Adam Rossi:
“I’m curious about the definition of ‘manufactured’ too. Can we ship parts to another country, assemble it there, and call it manufactured? Or what is the definition on the tariff, is it just where it’s shipped from?”
The confusion makes it difficult for small businesses to plan and budget for even the immediate future, and nearly impossible to develop their longer term business strategies in the face of a trade war that is constantly developing and shifting.
Kenny Fischer, the founder of Denver-based FattE-Bikes, sent Electrek his views via email:
“The new tariffs that have hit our industry (and so many others) will be difficult to navigate. Not because they will hurt our business but because they hurt the American consumer. If the US were more manufacturing friendly I think most bike companies would be happy to manufacture here. However it is very expensive to manufacture in the US and overseas manufacturing is the only real way to offer the American consumer potentially life changing products.”
FattE-Bikes does hope to mitigate the effects of the new tariffs by moving towards a new model of assembling their e-bikes in the US, even if the parts are originally manufactured in China and thus will still be impacted by the new 25% tariffs.
According to Fischer:
“We may not be “made” in America but we can be built here. In doing so we’re creating jobs, improving quality control, and unlike most e-bike companies that will hike up their prices, we still aim to offer an exceptional product at an exceptional price.”
Larger companies are finding new countries to manufacture in – just not the US
Unlike small companies who can’t afford to open new manufacturing centers in countries outside of China, much less in the US, some large e-bike companies are using this exact strategy to avoid the tariffs by moving production out of China to another country.
Oyama, whose electric folding bicycle we recently reviewed, has production facilities in both China and Taiwan, and are now focused on transferring more production to Taiwan.
According to Ken Fagut, Global Sales Consultant for Oyama and the CEO of Foldaway Solutions:
“Oyama has committed resources to make their Taiwan factory a world class e-bike manufacturing center and is actively recruiting some of the finest minds in the industry to support them.”
Tern, another large manufacturer of electric bicycles, is taking a similar strategy. According to Steve Boyd, General Manager at Tern North America:
“We have multiple manufacturing partners and are working to move these particular models out of China, although that will take 9-12 months due to lead times and production planning.”
In the meantime, Tern will be forced to raise prices on their current electric bicycles, with prices expected to increase by around $500, according to Boyd.
A representative for another large international bicycle company informed me that his company is now shifting its production of their 2019 electric bicycle models to two other Southeast Asian countries to avoid the import tariffs on Chinese e-bikes. The source spoke on condition of anonymity as he was not authorized to speak publicly on the matter.
What about the few companies in the US that build electric bicycles?
For the few US companies that already had some level of US manufacturing, the effects of the new Tariffs will be largely mixed.
Both Vintage Electric and Optibike, two US-based e-bike manufacturers, already build their electric bicycles in the US using a combination of local and foreign-manufactured parts.
Andrew Davidge, the founder of Vintage Electric, feels this distinction is important, even if imported electric bicycle parts are still affected by the increased tariffs:
“Anyone importing ‘parts only’ from China is subject to the same tariffs so it’s a level playing field. We source our parts globally and do not build bikes in China.”
Both Vintage Electric and Optibike build more expensive electric bicycles in smaller numbers that are geared towards wealthier clientele. By focusing on what some would consider “luxury electric bicycles”, these companies might be better positioned to either absorb the cost of increased tariffs on imported parts such as electric bicycle motors, or find customers with enough expendable income that the higher prices of the final e-bikes wouldn’t be as large of a deterrent.
And by manufacturing a portion of their parts domestically, such as Optibike who sources locally built frames for some of their models, the tariffs will have less of an impact on the company.
However, the uncertainty of the new tariffs may still be problematic. According to CEO of Optibike Jim Turner:
“I think if the tariffs were to continue long term it would make building bikes in the USA more likely for other companies, but components would probably still be sourced from overseas. The problem with these tariffs is no one knows how long they will last so probably no changes in production in the e-bike industry will occur in the near term.”
Will the US ever begin manufacturing electric bicycle components?
“Just build them in AMERICA!”
That’s the common refrain, right? And it’s the whole point of these 25% tariffs on imported Chinese e-bikes.
But is it even possible. Will it ever happen?
To get more insight on the possibility of the US becoming an e-bike manufacturing center, I spoke to Nick Drombosky, a consultant for US-based electric mobility startups and owner of multiple e-bike companies including Banker Supply.
With all of Drombosky’s experience, he has tried for years to find a way to build e-bikes in the US. But according to him, it just doesn’t work.
“First, Taiwan and China have been building almost all the bikes for the entire world for the past 30-40 years. They have ecosystems and two generations of tradesmen that result in the best bikes in the world. Look at all the top brands—Giant, Specialized, Cannondale— they all make their top end bikes in China and Taiwan. Even look at the Italian brands and you’ll see they build their frames in China and Taiwan and paint them in Italy.”
While many people ridicule the term “made in China” as being synonymous with poor quality, the fact of the matter is that they’ve spent years honing their skills to build high quality bicycles.
You get what you pay for. Companies who want to pay for high quality e-bike designs get some of the best and experienced bicycle designers in the world. Even the cheapest of the electric bicycles coming out of China are often surprisingly high quality for the price, as we have personally seen in some of our recent low-budget e-bike reviews.
According to Drombosky:
“The United States has a huge gap in education. You can go to China and find all the specialized engineers you need all day. They have been focusing on technical education for men and women for decades that the US has spent getting mad at Chinese people who just want to work.”
That isn’t to say the US doesn’t have their own great engineers. Of course they do, even if they don’t have the same relevant industry experience as Chinese engineers and designers. But it takes more than just quality designs to sell US-made electric bicycles.
“Second, even if you do make bikes in the US, they will be multiple times more expensive than their overseas counterparts and 99.9% of consumers won’t pay that price. When my shop tried selling a US-made bike next to a Chinese bike, with signage that explained why the US-made bike was more expensive, we couldn’t even sell one. Customers would stand there and talk about how they want American-made goods, then they would buy the Chinese bike.”
And even if companies could convince customers that paying 2-4x the price for an e-bike was worth it, that wouldn’t be their last obstacle. As Drombosky explained:
“Third, if you did make bikes here, at least if they are of high quality, you would still have to import the tubing because no steel or aluminum manufacturer in the states makes the specialized butted or hydro formed tubing that modern bikes need.”
Ironically, not only would a US e-bike manufacturer need to import the raw materials for their frames, but they could still be subject to import tariffs that the Trump administration has placed on imported steel and aluminum from China. Thus, the e-bikes could end up even more expensive than just US-built e-bikes, as customers would also have to pay for the higher cost of the imported raw materials.
But it doesn’t even end there.
“Even if you deal with the tubing supply chain and consumer retail price tolerance, there is no supply chain here for the cables, shifters, crank sets, chains, saddles, and every other part. It would take decades to set all of this up, but you would first have to get consumers to the point where they will pay $1,800 for the bike that they could get for $400.”
And then add in all of the other e-bike parts including motors, batteries, throttles, speed controllers, etc. All of these parts are mass-produced in China. They simply aren’t available in the US and no one is designing them or manufacturing them. The US would likely have to start by reverse engineering the Chinese products and learning how they produce them. How’s that for irony?
So what does the future hold?
If talking with so many e-bike companies has shown me anything, it’s that no one really knows what will happen. In fact, I’m not even sure the White House knows what the future of these tariffs will be.
But it is not complicated to see the detrimental effects that these policies very likely could cause. Simple high school AP Economics taught me that this won’t be good for either China or the US in the long-term. Even if a country can produce multiple items better or cheaper than another country can produce them, it is always in both countries’ best interest to focus their resources on their most skilled areas, and trade with other countries for the products they can’t produce as well domestically.
That’s not my opinion, that’s the basic principle of Macroeconomics, and was explained well by the New York Times recently in relation to the current Trump trade war.
Those who mess with free trade are usually the ones who don’t understand it. And in the end, it won’t be the governments that pay the price. It will be citizens.
FTC: We use income earning auto affiliate links. More.


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After several years of helping smartphone users with typing seamlessly using one hand, Nuance confirmed that it is discontinuing Swype support immediately.
For others, the future unavailability of the keyboard app is not necessarily a bother. After all, the Google Play Store features several options with the iOS app store likewise with a few of its own.
Apps such as Gboard, SwiftKey, and Fleksy are just a few of the honorable mentions based on popularity. However, most users claim that Swype is both accurate and quicker than the competition.
Dancedar, a Reddit user, reportedly found out about the end of support for the app when an e-mail was sent to inquire about a problem. According to the original post, the app continuously crashed during every reboot of the user's Google Pixel 2 on Android 8.1.
The support team allegedly asked for additional information and possibly a screenshot or video of the problem. The user complied and provided what was needed but received a response that suggested the app was no longer supported by the developer.
Shifting Its Focus Elsewhere
"Nuance will no longer be updating the Swype+Dragon keyboard for Android. We're sorry to leave the direct-to-consumer keyboard business, but this change is necessary to allow us to concentrate on developing our AI solutions for sale directly to businesses," the developer replied. "We hope you enjoyed using Swype, we sure enjoyed working with the Swype community."
Several sources supposedly communicated with Nuance to confirm if the product is indeed no longer supported. Even though it is still available via the Google Play, post-market support is not available anymore. Users might want to download it now before it is permanently removed by the company soon.
Swype Recently Updated
Some speculate that Nuance decided to discontinue Swype due to loss of popularity. Even if most of its loyal users claim that it performs better than other apps, the download numbers might prove otherwise. A quick check with the Google Play Store shows that Google Keyboard and SwiftKey were noticeably downloaded more times.
Both of the abovementioned virtual keyboard apps numbered over a hundred million downloads each, with Google's first-party option currently over 500 million. Unfortunately, Swype's download numbers only registered around 1 million.
Its discontinuation came as a shock to users as it recently received an update in January, with improvements made to its text engine and emoji predictions. Swype made its debut on the Play Store in 2013 and was supposedly rated as one of the best gesture-based-typing keyboard available at the time.


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Here are a few items that caught my attention in the publishing space this week.
NewCo needs to focus beyond the Nook
Jim Milliot at Publishers Weekly reported this week that Barnes & Noble is looking to open Nook digital bookstores across the globe. He writes that according to Barnes & Noble’s 10-K filing with the Securities & Exchange Commission, “B&N says that through NewCo it plans to launch the Nook digital bookstore in 10 countries within 12 months.” [Link added.]
Joe Wikert (@jwikert), GM and publisher at O’Reilly Media, has written much this year about B&N business strategies and where the company needs to go. I reached out to find out what he thinks of this latest move. He says the important factor is what they’re going to do with the stores — opening B&N stores overseas similar to stores in the U.S. would be “silly,” he says, and that B&N and NewCo really should focus on opening technology-oriented stores that focus on more than just the Nook.
His entire (lightly edited) response is reprinted here with permission:
“I definitely think B&N needs to reinvent itself. It’s still very much stuck in the traditional brick-and-mortar mold. I was excited when Microsoft announced its investment and likely joint creation of NewCo with B&N, but, of course, we haven’t heard much since that original announcement.
“The latest news that B&N is looking to expand overseas isn’t earth shattering, and what I’d really love to know more about is how they intend to branch out. Let’s face it. Bookstores in pretty much every other country are feeling much the same pain stores in the U.S. are dealing with. So, it would be silly for B&N to simply think they could open up a bunch of stores overseas that look like the ones they have here. In my opinion, what they really need to do is reimagine the in-person experience they can offer, both here in the U.S. and everywhere else on the planet. That’s where Microsoft could come in.
“I’d love to see B&N’s stores evolve into more technology and solutions outlets. They’ve undoubtedly had some success by adding the Nook kiosks into their existing stores. Let’s see if they can take that a step further and create technology stores within the stores, featuring much more than just the Nook. For example, what about Xbox? Or Kinect? Those areas in Best Buy seem to be the last ones that are getting much foot traffic these days. Microsoft has their own small chain of stores, 16 or so, I believe. Rather than building that chain out any further, why not work with B&N to have a Microsoft consumer technology area within the B&N stores? And not just here in the U.S. This could be done around the globe.
“Everything about NewCo up to now seems to indicate it’s only about digital and online, not the brick-and-mortar stores that are the very foundation of B&N. I hope that changes over time. The opportunity for NewCo isn’t just with Nooks and ebooks. It’s also about a much broader technology play that can help both companies compete with the likes of Amazon.”
Ereading data leads to new content forms
Alexandra Alter posted an interesting piece this week at The Wall Street Journal on how ereading not only is changing reading behavior and the reading experience, but how ebooks are putting valuable never-before-seen data into publishers’ hands. She notes that traditionally, publishers measured reader satisfaction via reviews and sales data, but that such limited metrics are a thing of the past as the publishing industry begins to embrace big data “and more tech companies turn their sights on publishing.” Focusing on Barnes & Noble as an example, Alter reports:
“Barnes & Noble … has recently started studying customers’ digital reading behavior. Data collected from Nooks reveals, for example, how far readers get in particular books, how quickly they read and how readers of particular genres engage with books. Jim Hilt, the company’s vice president of e-books, says the company is starting to share their insights with publishers to help them create books that better hold people’s attention. … Barnes & Noble has determined, through analyzing Nook data, that nonfiction books tend to be read in fits and starts, while novels are generally read straight through, and that nonfiction books, particularly long ones, tend to get dropped earlier. Science-fiction, romance and crime-fiction fans often read more books more quickly than readers of literary fiction do, and finish most of the books they start. Readers of literary fiction quit books more often and tend skip around between books.
Hilt told Alter that the data has already affected B&N’s offerings on the Nook. For example, data showing readers often abandon long nonfiction works led to Nook Snaps.
Books as great datasets for the web
Hugh McGuire (@hughmcguire), founder of PressBooks, recently spoke at TEDxMontreal about the blurring lines between books and the Internet, and the value the web can bring to books. Here are a few short snippets from his talk:
“It turns out that ebooks are just made of HTML, which is the programming language or the markup language that drives the Internet … So, it makes sense since we’ve been making these kinds of structured collections of text available as websites for many many years that we would use the same kinds of technologies to make ebooks. But, of course, there’s a terror here — and a catch. That’s that publishers are deathly afraid of the Internet. And, in a way, they have very good reason to be afraid of the Internet because the Internet is famous for gobbling up business models and spitting out total chaos.
“But it hasn’t been so bad yet because ebooks look pretty similar to books, in terms of the structure of the business and what we can do with them. That, really, I think is a problem. It’s a problem because in order to get this similarity with the past, we’ve ended up constraining ebooks and making them look a lot more like print books and a lot less like the Internet.
“There are all sorts of things you can do with a website or information that’s on a website that you can’t do with ebooks. You can’t link to a canonical version of an ebook. You can’t link to a specific chapter or a specific page … So, this poses a question to all of you, as readers. The question is this: Would you have more value if books were available in print and ebooks and a web version, or if you just had print and ebooks?”
McGuire talks about what we can do with books on the Internet, the value web versions can add to books, and thinking about books as great datasets that could be explored in new ways once they’re opened up on the web. You can watch his full TEDxTalk below:


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London (CNN Business)The world’s biggest metal exchange is changing its rules to combat child labor, money laundering, bribery and corruption.
The London Metal Exchange will require producers that operate in high-risk and conflict zones to demonstrate that their products are responsibly sourced by 2022.
It’s a major policy shift for the 142-year-old exchange, which until now certified metals for trade only by evaluating qualities such as their shape, weight and chemical composition. Now it’s trying to ensure that the metal that ends up in cars or electronic devices is ethically sourced. Continue reading London Metal exchange is getting serious about child labour and conflict


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How leading companies advance their business and brand by creating shared value
The world now faces an increasingly complex set of challenges: growing income inequality, climate change, and food scarcity, to name just a few. While governments and NGOs continue their work in these areas, the corporate sector is now standing up to help address these issues, recognizing that the world is moving towards a new center of balance where societal impact is just as important as profits. Leading companies around the globe are acting to create meaningful change that not only advances business objectives and the world in a sustainable way, but also continually strengthens brand value.
However, a review CSR reports, even among leading Canadian companies, reveals that many organizations are simply going through the motions, either aiming for minimum targets for regulatory compliance or recasting standard business practices through a politically expedient lens. In both instances, these organizations are missing valuable opportunities to create positive social impact, enhance the long-term viability of their business, and share more compelling and differentiating stories with the marketplace. By shifting focus from compliance to creating shared value, these companies can strengthen both their business performance and brand.
What is Shared Value?
Shared value is the idea that a company can create measureable business value by addressing social issues that directly intersect with its business. The notion goes beyond philanthropy or sustainability efforts to identifying specific challenges that will grow the company’s profits while creating positive outcomes for society. Michael Porter and Michael Kramer, who coined the term, identified unique ways companies can create these shared value opportunities, including product innovation that focuses on societal benefits, efficiencies in the supply chain that reduce environmental impact, and supportive industry relationships in the communities where a company operates.
Many leading companies have realized the benefits of creating shared value, such as GE. Since launching its Ecomagination business in 2005, the company has earned over $105 billion in revenue from associated products and services. Focused on building innovative solutions for today’s environmental challenges, the Ecomagination business has grown at twice the rate of the rest of the company. Walmart has realized similar success with its own shared value initiatives. In its efforts to reduce product packaging and optimize delivery routes, Walmart has lowered its carbon emissions while saving $200 million in costs—a clear and dramatic example of redefining productivity in its value chain.
Shared Value and Brand Value
But beyond driving revenue and improving margin, shared value initiatives provide companies with the opportunity to build brand value. No matter what the goal—from enhancing employee clarity on the company’s purpose to differentiating the brand or improving perceived authenticity and relevance—creating shared value fortifies the attributes that strengthen B2B or B2C brands. The result is a brand better able to drive choice, enhance loyalty, and ultimately increase brand value.
Shared Value and Internal Clarity
A key tenet to any strong brand is an internal sense of clarity. After all, how can employees be responsible for delivering a brand they don’t understand? This includes being aligned with what the brand stands for—its purpose in the world—so they can engage fully and deliver on its promise. Studies show that companies enjoy significant benefits from highly engaged employees, and frequently see uplift in every business performance indicator: profitability +16 percent, productivity +18 percent, customer loyalty +12 percent, and quality +60 percent.
Canadian outdoor recreation outfitter, MEC (Mountain Equipment Co-op), understands its purpose in the world (inspiring Canadians to be active outdoors) and motivates employees accordingly. But to fulfill its mission, MEC understands it must go beyond providing equipment and play a role in conserving the outdoor spaces where people use MEC’s gear. Through its involvement in local communities and outdoor industry associations, and its integrated business and sustainability strategy, MEC embodies shared value. It is building supportive industry clusters that create, develop, and innovate opportunities within its market, while ensuring employees understand the brand’s purpose.
Shared Value and Differentiation
Canada’s leading telecommunications brands have struggled to differentiate and drive consumer choice beyond price, but one brand stands out for making significant strides to separate itself from the pack. With the launch of Bell’s Let’s Talk initiative in 2010, the company has made progress to put an end to the stigma surrounding mental health by raising national awareness and committing $62 million in funding. While Let’s Talk is playing a vital role in bringing attention to one of the most widespread health issues in this country, it is also helping Bell engage with consumers in a more meaningful way—on the very devices they provide to them. This effort differentiates the brand in a way that has been proven to drive consumer choice and loyalty.
Shared Value and Authenticity
To convey authenticity effectively, a brand’s communications must consistently align with its actions. For instance, as Canadian financial services brands send messages of partnership and support to customers, consumer debt levels head to a forecasted all-time high in 2014— largely due to easy access to credit. One exception is National Bank.
With its ClearFacts initiative, National Bank provides consumers with a plethora of free advice to help Canadians make more sound financial decisions today and tomorrow. Guidance spans from how to best manage daily expenses, such as cell phone data usage, to longer-term considerations like buying a home and planning for retirement. By creating a service that supports the financial health of consumers, National Bank is strengthening its credibility and the authenticity of its brand.
Shared Value and Relevance
In Canada, childhood obesity is expected to have significant impact on industries such as healthcare and insurance, yet one brand taking on the issue represents a different sector altogether. In 2013, Canadian Tire launched a national advertising campaign bringing broader awareness to childhood obesity, encouraging parents and kids alike to embrace sport and outdoor activity to live better. Canadian Tire extends this effort far beyond ad campaigns by continuously supporting its Jumpstart initiative. Founded in 2005, Canadian Tire Jumpstart enables financially disadvantaged kids to participate in sports by helping to cover the cost of registration, equipment, and transportation. These cumulative efforts notably enhance the brand’s relevance with Canadians by driving interest and engagement in sport, and ultimately, health and well-being.
The concept of creating shared value is equally relevant to the non-profit sector. In focusing on new ways to partner, non-profit organizations along with their corporate sector donors are transforming traditional corporate philanthropy into shared value opportunities. One NGO taking on this approach is Plan Canada. “We’re finding more and more opportunities to engage with our corporate partners, moving beyond donations to engaging their employees more holistically,” says Paula Roberts, Executive Vice President, Marketing & Development at Plan Canada. Not only does this approach support Plan Canada’s work in various regions across the globe, but it also strengthens employee engagement levels within its corporate partner base, a proven metric to enhance both productivity and profitability within a business.
In creating shared value, these brands demonstrate the opportunity at hand: to be leading Corporate Citizens while strengthening their organizations’ bottom line and brand value. By stepping outside category norms, each has shown how doing what is beneficial for society can, in turn, be beneficial to the business and brand. As more companies move from compliance to embracing shared value in their strategic business planning, we will hopefully see an exciting evolution in category norms altogether.
Meghan Fraser is a Director of Strategy for Interbrand Canada. You can follow her on Twitter @meghannfraser.


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One of Kylie Jenner's mega-popular lip kits does way more than just stay on all day. A special-edition version, a pale pink called Smile, has raised half a million dollars for charity after two limited runs.
The lip kit benefits Smile Train, a charity that helps children in developing countries who have cleft lip or cleft palate, giving them free surgeries that can change their lives. People with untreated clefts can have trouble breathing, speaking, and eating.
The Smile lip kit has had two limited runs so far. The first, which wrapped up in October, raised more than $159,000.
And now that the second run has completed, that total is up to $500,000, People reports. The shade is now sold out, so you'll have to keep an eye on the Kylie Cosmetics site to see if they restock. Until then, you can donate to the charity at smiletrain.org/kylie.
Proud mom Kris Jenner tweeted her congratulations, and Kylie sent her thanks right back. It's just the warm fuzzies everyone needs to start the new year.


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The all-new Ford Focus will arrive in showrooms in early 2011 with the aim of finally dethroning the Volkswagen Golf as western Europe’s best-selling car, according to company sources.
The new Focus won’t just be a key player in Europe, either; it’s set to become a global car, to be sold in North America. The US version will be unveiled at the Detroit show in January, before the European car.
The new Focus will go on sale after the launch of the recently unveiled C-Max five and seven-seat MPVs, the first models based on what Ford sources call “an all-new, global platform”.
The production version of the C-Max, to be built in Spain, is set to be launched at next September’s Paris show. The seven-seat version is heading for the US along with the Focus.
Design sources say Ford is going to make the new Focus much sportier and more coupé-like than the current model.
“The hatchback Focus will be relatively lower and sportier than the C-Max you saw at the Frankfurt show,” said our insider. “The important point is that there will be much more differentiation in terms of the relative stance and the H-point between the hatches and C-Max than on the current models.”
The H-point is designer shorthand for the position of the driver’s hip point, which in practice means that the upcoming three and five-door Focus hatchbacks will have lower seating positions and markedly low-roofed styling.
The Focus’s chassis is also likely to be more sportily tuned than that of the C-Max, which is aimed at families and older drivers who appreciate the higher seating position.
The Focus will also get its own interior design theme, with the dash angled towards the driver to deliver more of a cockpit-like feel.
The new Focus will be powered by a new range of ‘Ecoboost’ downsized turbocharged petrol engines.
“The plan is for all our petrol cars to have smaller-capacity, direct-injection turbocharged engines,” said one source. “We especially have to meet the average CO2 target figure that has been set in the European Union, but downsized turbocharged engines are already proving popular in North America as well.”
One casualty of the move to greater fuel efficiency will be the five-cylinder Volvo-derived engine that powers today’s Focus ST. The next generation of the model is likely to be powered by a turbocharged 2.0-litre four-pot, which can develop as much as 276bhp.
Aside from its range of diesel engines, Ford is working on a new range of super-frugal three-cylinder turbo petrol units, with capacities “much smaller than 1.6 litres”.


text: Joya and Kybun, the Swiss brands of comfort shoes, have developed a common retail concept. Matthias Müller – son of Karl Müller, the founder of the MBT brand of comfort shoes – will be managing the recently introduced retail concept as well as directing the new joint venture Kybun Joya Retail. Joya and Kybun already have three Kybun Joya stores in Switzerland, all opened in the past nine months. Kybun Joya Retail plans to open two additional stores in Spain and another in Italy in the near future. Consumers can test Kybun and Joya shoes for 14 days and return them if not satisfied. Kybun and Joya have also launched a common social media campaign on Google, Facebook and YouTube to support its new retail concept. The retail concepts of Kybun Joya can be implemented at different levels. The investment can range from about €140,000 for a store of 120 square meters to €28,000 for a shop-in-shop.


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Some agencies spending 90-percent of IT budget on legacy systems — report
October 21, 2016
Some agencies are spending 90 percent or more of their IT budgets on operations and maintenance, the report released last week found.
David Stegon was a staff reporter for FedScoop and StateScoop from 2011-2014.
The National Institute of Standards and Technology released draft guidelines for securing mobile devices and is requesting comments through December 14.
The draft, "Guidelines on Hardware-Rooted Security in Mobile Devices," defines the fundamental security components and capabilities needed to enable more secure use of products.
"Many current mobile devices lack a firm foundation from which to build security and trust," said NIST lead for hardware-rooted security Andrew Regenscheid, one of the publication's authors. "These guidelines are intended to help designers of next-generation mobile phones and tablets improve security through the use of highly trustworthy components, called roots of trust, that perform vital security functions."
On laptop and desktop systems, these roots of trust are often implemented in a separate security computer chip that cannot be tampered with, but the power and space constraints in mobile devices could lead manufacturers to pursue other approaches such as leveraging security features built into the processors these products use, he said.
The NIST guidelines are centered on three security capabilities to address known mobile device security challenges, including device integrity, isolation and protected storage.
To attain the security capabilities, the guidelines recommend that every mobile device implement three security components that can be used by the device's operating system and its applications.


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McDonald's in Coca-Cola Freestyle test
Nov. 11, 2009
McDonald's Corp. is the lastest quick-service chain to test Coca-Cola Co.'s new Freestyle self-service fountain-drink dispenser, according to a story by Nasdaq. The dispensers, which feature more than 100 branded beverages, are being tested in Atlanta and Southern California markets.
Other QSRs testing the machines include Jack in the Box, Burger King and Wendy's.
One area where McDonald's will likely focus during the test will be on how the machine affects service times in an industry intent on speed of service.
Equipment & Supplies
Food & Beverage
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On the Move: BMW, Carrefour, Royal & Sun Alliance
From Standard & Poor's European MarketScope
ROYAL & SUN ALLIANCE was up £0.03 to £1.64. The company reported fiscal operating profit of £780 million, +5% - ahead of analyst estimates. Numis said the results were marginally ahead of the consensus, with the operating result ahead of the expected £770 million, and expects the increased DPS and positive outlook to be taken positively by the market.
DRAX was unchanged at £7.28. The company reported fiscal EBITDA of £583 million, +144%; final DPS 9.1p, second special DPS 32.9p, total DPS 134.7p. It announced investments of up to £67 million to increase capability to produce 10% of output from renewable fuels by 2009, in addition to the £100 million turbine enhancement project. It expects the investments together to save over 3 million tons of CO2 emissions a year, equaling the output of around 700 wind turbines.
SUEZ (SZE) was up €0.68 to €37.51. The company reported 2006 net profit of €3.606 million, higher than expected, with EBITDA of €7.100 billion at the top end of expectations.
CARREFOUR was down €1.08 to €51.72. The company posted fiscal 2006 sales incl. VAT of €87.422 billion, +6.3% excl. currency; fiscal 2006 net. profit from recurring operations of €1.86 billion; fiscal 2006 net income group share of €2.268 billion, +58%.
PERNOD RICARD was down €7.22 to €149.40. Reporting first half 2006/2007 results, the company posted operating profit of €886 million, up 20% year-over-year, but below consensus expectations of €922 million.
BMW was up €1.14 to €43.64. The company reported 2006 group pretax profit of $euro;4.124 billion, in line with expectations. Group net earnings last year were €2.874 billion. The company proposed a dividend payment of €0.70 per ordinary share. The company said it will again ask for authorization to buy back up to 10% of its share capital.
SALZGITTER was up €3.97 to €102.37... 2006 pretax profit tops expectations / Stake buy in focus - the company is taking a 78% stake in Kloeckner Werke. No financial details provided. Earnings-wise, the company tabled 2006 revenues of €8.45 billion and pretax profit of €1.85 billion. pretax profit before one-offs was €947.9 million, comfortably ahead of expectations. the company sees 2007 steel prices above 2006 levels.
SGL CARBON was up €0.63 to €20.83... 2006 earnings top expectations - the company reported 2006 sales of €1.19 billion, EBIT of €170 million and net profit of €40.7 million. It points to raising it mid-term goals as it expresses confidence to be able to increase both sales and earnings this year.
ELEKTA was down SEK13.50 to SEK137.50. The company will report nine months sales at SEK3.082 billion, operating profit at SEK246 million and order bookings at SEK3.539 billion. The company guided for 2006-07 growth of 10% vs. 10-15% previously.
LUNDBECK was up DKK3.00 to DKK163.50. S&P Equity Research upgraded the company to hold vs. sell and raised its target to DKK163 vs. DKK133. Following the release of the fourth quarter results yesterday, the firm said the key feature of the outlook is the improvements in the company's pipeline profile.
BBVA was up €0.44 to €18.19. Cheuvreux upped its target to €22.70 from €22.20, selected list.
SACYR-VALLEHERMOSO was up €1.17 to €41.24. The company's shares rose with traders commenting that it is a very volatile stock and was one of the worst hit in the recent sell-off.
BP ITALIANA was up €0.33 to €11.56. Shares traded higher as the company's possible merger with BPVN will be put to the vote at the upcoming EGM. A local influential broker is confident that the merger will be approved.
LONZA was up CHF3.30 to CHF113.40. Morgan Stanley upgraded the company to equal weight from underweight and lifted its price target to CHF113 from CHF62. It thinks the company's transformation into a life sciences company gives it secure, high-margin growth to 2012.
AEGON was up €0.49 to €15.01. The company reported full year operating earnings before tax of €2.83 billion, higher than the expected €2.76 billion.
FORTIS was up €0.23 to €32.33. The company reported fourth quarter net profit before divestments of €749 million vs. €461 million the year before, but lower than the €763.6 million expected.


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Buffalo Wild Wings is raising wing prices as chicken costs soar
Buffalo Wild Wings Inc. says it will increase the price of its wings to offset the soaring costs of chicken.
The Golden Valley-based company said it will raise its "Wings Tuesday" promotion to 50 cents per in-bone wing at company-owned locations, up from 45 cents. Buffalo Wild Wings also may increase prices for its Boneless Thursday promotion.
Buffalo Wild Wings also said it will update its menu in July — two months earlier than expected — with an overall price increase of 1-3 percent.
"We don't do that lightly. We wait until we really see some sustained price increases which we have seen," CEO Sally Smith said on a conference call as reported by The Wall Street Journal.
While Buffalo Wild Wings (Nasdaq: BWLD) reported strong quarterly sales and profits on Tuesday, rising chicken prices are threatening its bottom line. Bone-in wing prices are $1.92 per pound, up 57 percent from a year ago, the Journal reported. Bone-in chicken wings account for about 20 percent of the restaurant chain's commodity costs.
Smith said she thinks the company has "some room" to raise prices without upsetting customers because overall menu price increases have been in the 1-3 percent range each of the last several years.
>Click here to read the Journal's story.
Ed Stych assembles a daily stream of best-in-class information for entrepreneurs and top managers that appear in The Business Journals' national How-To blog.
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Fresh Fridays on the Hilltop, a free produce distribution through the Hilltop Alliance, will continue with a distribution on April 8.
The Fresh Fridays on the Hilltop, the Hilltop Alliance’s free produce distribution, will again pass out pre-boxed food on Friday, April 8 on Allen Street at the St. John Vianney Church parking lot in Allentown.
Due to COVID-19, the distribution went from a “shopper” style where people were able to pick and choose from the available produce to a Grab-N-Go model where people don’t have to leave their cars and will have a box of fresh food along with another box of dairy products placed in their trunks.
The no-contact distribution allows both those picking up boxes of food and the staff and volunteers helping them to remain safe while distributing the boxes.
While supplies last, households are able to pick up two boxes of food totaling approximately 40 pounds; one with produce and one with dairy products while supplies last. People will be able to pick up the boxes either by driving up and having them placed in their trunk or walking up and taking the boxes with them.
Those walking are strongly encouraged to bring a shopping cart or wagon to take their boxes home.
The distribution will take place at the St. John Vianney Church parking lot at the corner of Allen and Climax streets in Allentown, beginning at 3 p.m. and will go until all boxes are distributed. Those picking up the boxes, either walking or in a vehicle, will not be permitted in the parking lot.
The distribution is part of the USDA’s Coronavirus Farm Assistance Program through the Greater Pittsburgh Community Food Bank and is specifically for Hilltop residents. Households in the Zip Code areas of 15203, 15210, 15211, and Carrick residents in 15227 are welcome.
There is no requirement to preregister and there are no income guidelines, but only one set of boxes per car or household.
A safe and successful event is a primary concern. Those walking up to receive their boxes are required to wear masks and follow social distancing recommendations.
For more information, contact Jeph Martin at the Hilltop Alliance, 412-586-5807 ext. 3.
Fresh Fridays on the Hilltop is sponsored by the Hilltop Alliance, Brashear Association, St. John Vianney Food Pantry, and the Greater Pittsburgh Community Food Bank with support from PNC Bank, Dollar Bank, PA Dept. of Community & Economic Development, and Birmingham Foundation.


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Online sellers who make money from eBay targeted in tax crackdowns
Online sellers who use websites such as Ebay to make money but don't declare it will face one of the 'biggest tax crackdowns in history', it was reported last night. As part of plans to obtain details of millions of online transactions, the HMRC wants …
Read more on Daily Mail
Tech experts rake in the cash by teaching online
Influenced by Timothy Ferriss's book The 4-Hour Workweek, Walter sought out work that would require limited time yet provide adequate money. So early in June … That's the kind of success that would make many an IT pro wonder: Could I teach online too?
Read more on Computerworld


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Facebook launches Instagram Lite — a stripped-down version of the app for emerging markets
Wednesday, July 4, 2018
By Arjun Kharpal
Facebook introduced a stripped-down version of the social photo-sharing app Instagram, aimed at users in developing markets.
Instagram Lite quietly appeared on the Google Play Store Wednesday for Android smartphones and the size of the app is just 574 kilobytes, substantially smaller than the roughly 90 megabytes required for the main Instagram app.
The Lite app lets you post pictures, create and watch stories that disappear after 24 hours, and search for users. Users currently don’t have the option to message friends or share videos, but a description on Google’s app store said that those functions are coming soon.
Instagram Lite is aimed at emerging markets which typically are dominated by lower cost Android devices. Users in these countries have limited data plans and that’s where Lite versions of apps become important.
Photo courtesy of Highways England.


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Implementing a video strategy is like completing only a part of the task. If as a marketer, you don’t know how to properly measure effectiveness, you could be wasting big money.
As per an estimate of the Internet Advertising Bureau (IAB), UK & PwC’s yearly digital ad spend report, in 2016, expense on mobile video ads more than doubled to £693m. It doubled up to 103% making it the fastest growing ad format in the UK. It implies, currently, that it accounts for a huge 29% of the total digital ad expense.
And even as Facebook and Google are building their future around digital video channels, you can’t ignore its importance.
Nevertheless, with the soundness of the measurement metrics of the Facebook coming under powerful inspection, numerous marketers are puzzled when it comes to understanding how to fruitfully measure video effectiveness.
According to the chief of strategy at Poke, the digital ad agency responsible for Ted Baker’s shoppable video campaign, Bogdana Butnar, the truth is the industry still depends too much on completion rate.
She claimed that measuring based on video completion is turning out to be irrelevant because of the rise of Instagram and Snapchat.
Butnar stated that video completion is less pertinent for video environments like Instagram Stories or Snapchat that are fragmented and overall for mobile. It is the reason for Google switching to simpler 6-second ads casting away the traditional skippable.
Questions Every Marketer Should Ponder Upon
The effectiveness of video ads is measured by Realeyes emotionally via access to people’s webcams. Mihkel Jaatma, its CEO, believes emotional response will turn out to be a more common thing for marketers to measure success on.
He said as behavior is driven by emotions, so a successful video will be one that creates a strong emotional response. The best method to measure the effectiveness of a video is to measure the emotional response to it. When there is higher engagement, it is more likely a viewer will take action.
Research and insight director at We Are Social, Andre van Loon stated gathering data like impressions, average completion rates or video views are not the only proofs that customers have enjoyed, remembered, felt persuaded by or done anything differently because of a branded video.
He says marketers should ponder upon questions like: Did the viewing of video lead to product or brand advocacy? Were the videos able to strengthen existing attitudes or behaviors, or create new ones? Were the brand’s videos able to make an impact on consumers’ buying intentions? Were they able to lead to increased sales?
How viewability differs between platforms
Van Loon stated for some of the other platforms, viewability can be impacted by grabbing attention in a short amount of time (scrolling past videos on Facebook, for instance). But again, said if you own interesting content which you can communicate through a variety of channels or platforms, it is more likely to generate the kind of interest that will actively seek you out.
Talking about viewability across different platforms, in particular, the likes of YouTube and Facebook, he says brand building plans applied over time will make more reasons for consumers to regularly watch videos.
In the end, CEO of agency 4PS, Matt Phelan, says accomplishing digital video advertising goals isn’t a question of prioritizing mass reach and targeting exclusively. He noted some marketers are getting so involved in measuring success that they are forgetting the actions to achieve it.
He added it is not really a matter of reach vs. targeted. Marketers are to aim for targeted reach. You don’t have to go after reach just for hitting the biggest audience. Take data for instance; owning useful data is much more vital than having large data. Big doesn’t always equal better. It is absolutely true in marketing.


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urfi javed video Urfi Javed keeps injuring the fans every time with her killer look. Every time she surprises people with her impeccable style. Once again he has done something similar. Recently, she has posted a video of herself on social media, in which she is seen wrapping the wire. Yes, this time she has made the wire her outfit.
Urfi Javed has shared a video on social media, in this video at first she is seen with blue wire but in the blink of an eye she also made a dress of the same wire. This video of Urfi started going viral as soon as it came on social media. Urfi has once again made people crazy with her bold style. Urfi Javed surprises people with her look and once again she has done something similar.
Urfi Javed is just 25 years old
Fans eagerly wait for every picture and video of the actress. And as soon as Urfi shares her latest look with fans, it becomes viral within minutes. Urfi Javed is only 25 years old and she is very active on social media, fans are also eagerly waiting for the latest experiments of Urfi every day.
Urfi’s fashion experiments
Every single pose of Urfi becomes a topic of discussion on social media. Most of these posts remain in the news about the strange photoshoot of Urfi. Actually, more than her work, Urfi is in the news only because of her unusual clothes. Sometimes she makes clothes out of jute sacks, sometimes with glass and sometimes she makes clothes by applying only photos.


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Rihanna and E-40 will be popping by Top Dawg Ent.'s fourth annual Christmas drive.
As much as the holidays is about receiving, it's equally about giving back. Many rappers, entertainers and artists in general use the holidays as a time to give back to their respective communities is some fashion. Whether it be food drives, free concerts or using their platform to help out during the holiday season. This year, Top Dawg Entertainment return to their stomping grounds for their fourth annual Christmas giveaway and have just announced some big names that'll be popping by.
Earlier today, Top Dawg tweeted out some of the special guests that'll be popping by during their fourth annual Top Dawg Entertainment holiday concert and toy give away. Alongside the TDE roster, they also announced Rihanna and E-40 will also be coming through for a special performance. The toy drive is set to take place at Nickerson Gardens tomorrow and will begin at noon. Expect performances from Kendrick Lamar, SZA, ScHoolboy Q, Jay Rock, Ab Soul and Isaiah Rashad. While they announced Rihanna and E-40, it's looking like they also have other special guests who will be performing as well. They've yet to reveal it but you best believe it'll be big.
The holiday concert is a great way for Top Dawg Entertainment to cap off what has been arguably their biggest year to date. With Kendrick Lamar and SZA dropping their respective albums, they became hip hop's powerhouse that houses some of the most prominent and well-respected artists in the game.
Check out TDE's trailer for the holiday drive below.


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Apple officially abandoned exhibiting its wares at CES, but that doesn’t mean the company doesn’t have a presence at the event. Of course, there are hundreds of vendors that cater to Apple products, from iPhone cases to Thunderbolt drives, but we don’t mean that.
Apple has more than 250 of its employees registered to attend CES 2012 in Las Vegas. So what could they all be doing on the show’s floor? It seems that covert operation is the name of the game. It’s normal for a company to want to be on top of what the competition is offering. Apple’s employees are also taking notes on how other companies present their goods and how booths are organized.


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Meet Brady and Christen Raanes, owners of c(3) wines, an endeavor as delicious as it is philanthropic.
A summer release party helped introduce a local couple’s wines to the Greater Hattiesburg area. Brady and Christen Raanes introduced (c)3 wines, a collection of four wines that serve a double purpose – not only are they enjoyable to drink, but funds raised through their sales support four non-profits.
“The release party at Branch was a good opportunity to introduce the wines,” said Raanes, a Hattiesburg businessman. The wines were also served during a recent ADP After Hours held at the Greater Pinebelt Community Foundation, where Brady serves on the board, and this summer’s Laughs for Life preparty, for which Raanes’ coworker, Kent Oliver, serves as director. Those proceeds support the Multiple Myeloma Foundation, one of (c)3’s charities.
And while the wines have just made their way to Mississippi, the whole concept began well before the wine thing.
In 2010, the Raanes began an adoption process which took them to Ghana, Africa, where they lived in a hotel for three months until the process was finalized.
Sitting around, they had a lot of time to think and by the end of the 90 days decided they wanted to create some type of charity.
“There were enough charities that existed in the world; we didn’t want to reinvent the wheel,” said Brady.
“Three months is a long time to sit in a hotel room and have all of these ideas spinning,” added Christen, “so we really talked a lot about a charity and like he said, there are so many out there we thought maybe we could do something that was a little bit different.”
What came to mind was supporting the charities that were already out there doing good work, not trying not to overlap them.
The couple brainstormed a lot, Brady admitting he had a ton of bad ideas.
One day while sitting at Crescent City, Christen, who serves as CEO of the nonprofit, broached the subject of doing something charitable with wines, something they both liked and enjoyed.
Not knowing much about wine or living in a zip code that would support their idea, the couple was sure there was something out there for them.
After much Googling and research, they came upon a company in the Napa Valley called The Wine Foundry, which acts as the middleman between existing wine companies that want to add a different varietal, so they source grapes from other vineyards.
“The Foundry makes that easy for other vineyards as well as those of us who own zero land and don’t grow any grapes at all, but would like to purchase,” Christen said.
The couple began by sampling wines from the different vineyards and deciding which flavor profiles they really liked.
Christen explained that the process involved taking a bottle of approximately 95 percent cabernet and adding a little Muhlbach and a little Petit Verdoh and Cabernet Franc, all of which added a little bit of complexity to the wine.
“That was the fun part,” she said, “sitting with the wine maker. He’d mix a sample and let us taste, informing us at the same time that it was going to taste different once it had aged because it would soften.”
The Raanes bought their first batch of wine, from two different vineyards, in 2012, and blended that. They also bought every year since up to 2016.
But just because they had wine, didn’t mean they were ready. Because of the aging process required, their wines sat in barrels in Napa for two years.
Christen explained that with the first batch, which was released in 2015, the grapes were harvested, crushed and then barrel aged for two years. “You can do it for a lot less or a lot longer than that, but under heavy influence from our wine maker, who knew a whole lot more than we did, he recommended two years. When he thought the time was right, we bottled and released it.”
Brady added they had laid out a fairly large chunk of money to buy the barrels from multiple years just to have it sit in the Napa Valley for two years aging and waiting.
Their four wines – 2012 Cabernet Sauvignon, 2013 Cabernet Sauvignon, 2015 White Blend, and 2016 Sauvignon Blanc – are strictly their “babies,” just like the two boys – Manny (from Ghana) and Beni (from the Congo), they adopted and made part of their family.
The name they chose for their wines is (c)3. Christen explained the thought process behind the name. “Because this was so much about the non profits that we were working with and giving back to, we wanted it to reflect that,” she said, “Since 501(c)3 is the tax code for non profits, we took the (c)3 from that.”
While the wines are available online, Mississippi is one of 33 states and the District of Columbia where there is not direct-to-consumer sales. Other states include Alabama, Georgia, Utah, Montana, South Dakota, and a lot of states in the northeast.
For wines brought into the state there is a 27 percent tax, according to Raanes. “So, on top of the wholesale price is a 27 percent tax and then anything the retailer adds on top of that to make a profit,” Brady explained. “It’s pretty ridiculous.”
“We jumped through a lot of hoops and just got it through the Mississippi ABC this summer,” he said. “We worked for a solid year to get it here.”
The Raanes explained that most people work with a distributor, who also takes some off the top, but Jamie (Farris-Lincoln Package) helped them understand the process so they could do it themselves to avoid that extra charge.
“Jamie has been great,” said Brady. “We’ve worked together and played baseball together, so he was really helpful in making it happen.”
(c)3 is currently on sale at Lincoln Road Package store and Brady has been talking with other Hub City wine store owners.
“We’ve talked to them and hopefully it will work out,” Brady said. “I’ve also talked with Dusty (Frierson) at Branch, where the release party was held, about putting it on their menu as well.”
He said that Martha Allen, director of Extra Table, has also talked to some places in the Jackson area about carrying the wines, which would benefit Extra Table.
As far as Mississippi sales, funds from anything sold through one of Robert St. John’s entities or through Allen, will go to Extra Table. Profits from sales through other Hub City Sales will benefit the Pinebelt Community Foundation.
When a bottle is purchased, the buyer can select whichever of the charities they want to support. At that time, the Raanes receive a notification and the money is allocated to the charity with checks being sent out quarterly or annually.
The annual commitment to each charity changes each year and so far, the Raanes aren’t sure which charities the wine sales will support next year.
“So far, it’s still a fairly small dollar figure,” said Brady, “somewhere around $5,000 or $6,000, but I think it’s beginning to grow and snowball, so we’re really excited about that. Things just take time.”
The wines will remain the same until they run out of inventory.
“The 2015 white blend, we bought the least of, and we have less than two cases left of it,” Christen said.
The holidays are usually a good time for (c)3 wine sales, with people being thoughtful and giving gifts, according to Christen. “It’s the gift that gives back, and that is good,” she said.
Brady said hopefully they will have their wines in other Hub City stores by year’s end.
Growing up Raanes
These days the Raanes boys are growing and deeply involved in school and other things.
Manny is 15, 6-feet tall and plays basketball at Purvis High School. He had just turned 7 when they adopted him. His parents have both been amazed at how he’s adjusted. “He has just a little bit of an accent,” Brady said. “Other than that he’s just a Mississippi guy with a weird accent, but is doing great.”
Beni, who came from the Congo, is now 11 and was 6 when he was adopted. “He’s sharp as a tack,” his proud dad says.
While Manny spoke a little bit of English when he was adopted, Beni spoke no English.
Christen homeschooledl the boys for two and three years, respectively, to get them caught up. “They adjusted well and it was a very easy transition for us, which is not always the case,” she said. “After we adopted Manny and it went so smoothly, we said, ‘Let’s do this again.’”
Brady has two adopted brothers and they had friends who had adopted.
“That kind or removed some of the scariness,” he said.
“We were young newlyweds, and didn’t think going through that process was for us, but God changed our hearts over the years and it’s been great for us.”
Beth Bunch is managing editor of Signature and The PineBeltNews. She’s not partial to wine, but would definitely give these a try.


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Apathetic customers. water-thieving dope growers and wine robbers are among the stories you could have missed today.
It has actually been one more busy week, with a lot of red wine information flying about. Nevertheless, right here are some tales that might have flown under your radar.
White wine popularity dropping in younger drinkers– research study
The last decade has actually seen a considerable drop in regular US and also UK red wine enthusiasts in the 21-34 year-old group, according to study carried out by UK-based White wine Knowledge. According to their consumer study, released on Tuesday, in 2010 24 percent of those younger drinkers in the UK said they were routine white wine drinkers. By 2020, that had dropped to 14 percent.
The US revealed a similar fad with regular enthusiasts in that exact same age group dropping from 28 percent to 18 percent over the same duration. On the other hand, older drinkers had reportedly upped their intake, with regular white wine drinkers in the over 55 year-old bracket increasing from 37 percent to 56 percent in the UK and also 32-47 percent in the US (again, in between 2010 and 2020).
“The data shows that a typical 21-34 year old in the US is around fifty percent as most likely to be a monthly white wine drinker in 2020 as they remained in 2010, and there is a similar tale in the UK,” the research stated.
While there were “mitigating scenarios” consisting of an expanding aging population increasing that market, the drop in young consumers stays a problem. However, the trends differ from market to market.
“Canada’s red wine drinking population is in fact expanding among more youthful grownups, while Australia’s is in gentle decline throughout all age teams,” stated the research.
World’s most costly French french fries cooked in Dom Pérignon
If you’ve ever wondered what you need to truly jazz up your home-cooked French fries, it possibly that you’re not blanching them in Dom Pérignon Champagne. That is among the components worldwide’s most pricey dish of french fries.
The Guiness world record-winning snack– on the menu as “Crème de la Crème Pomme Frites”– was generated by cook Joseph Calderone at New York restaurant Blessing 3. The recipe got in the document publications simply lately and also establishes diners back US$ 200 (EUR170).
The french fries are made from Chipperbec potatoes, twice-fried in French goose fat, with a previous blanching in Champagne Ardenne vinegar as well as Dom Perignon (classic not defined but we suspect it is likely a recent release), skilled with Guérande truffle salt, truffle oil, grated truffles, truffled Gruyère potatoes and also finishd with a sprinkle of 23-karat (edible) gold dirt.
Popular with the well-to-do, Serendipity 3 in Manhattan’s Upper East Side, has actually only simply resumed following its closure over the Covid pandemic. The restaurant is recognized for its flamboyant– and also pricey– cuisine. Its “Golden Opulence Sundae” was already holds the Guinness Publication of World Records title for the most expensive treat ($1000).
“Individuals come below to celebrate, to really run away the fact of life often,” said Calderone.
California weed growers condemned for water shortage
Who would be a The golden state grapegrower? As fears proceed, not just over the impending wildfire period, however likewise around insurance coverage with some insurer reportedly reluctant to extend policies in some locations, so current water emergencies (declared by Napa, Yountville, St. Helena and Calistoga) add to an already stressful season.
While drought records from the state are significant, some remain hopeful. “Vines have their very own mechanisms for reacting to dry spell, with really strong survival reactions,” vineyard manager (as well as Napa Valley grapegrower of the year 2015) Mike Wolf told the Napa Valley Register. “So we do not need to water like we would in an extra regular situation.”
Nonetheless, it doesn’t really assist water concerns that reports have actually appeared of illegal growers of the most recent boom plant– cannabis– siphoning off a reported 12 billion litres of water from the state water system in the previous 8 years.
“Water stealing has never ever been extra serious,” John Nores, former head of the California Department of Fish as well as Wild Animals Marijuana Enforcement Group (MET), informed US nationwide information electrical outlet CNN.
“Officials say the thieves are getting their hands on water by getting into safe water stations, drilling into water lines, using fire hydrants and using violence and hazards against farmers, swiping truckloads of water for their crops under cover of darkness,” CNN reported.
While the angering appears to be concentrated in the more north as well as southern locations of the state, the results are potentially serious with one sheriff in mentioning the siphoning off of water would have a “massive effect” on the neighborhood aquifer.
The MET group has reportedly made around 900 arrests and also removed over 400 miles (640km) of pipes diverting water from streams.
Guv’s red wine shop broken into
Equally as California governor Gavin Newsom signed a costs focused on punishing arranged retail theft so, for the 4th time this year, Newsome’s family-owned PlumpJack wine store in San Francisco was broken into on Tuesday.
According to the San Francisco Chronicle, police hurried to PlumpJack Red wines & & Spirits shop (in the Cow Hollow community in the north of the city) at around 6.40 am, after they looked out by the store’s alarm. They discovered a shattered window but the suspects had actually fled.
“Wednesday’s theft attempt comes just days after the embattled Democratic governor signed an expense aimed at punishing retail burglaries throughout the state,” said the New York Daily Information.
Newsome is a founder of the PlumpJack company (that includes a vineyard), although he stepped back from its operating and also put his possessions in a blind trust complying with is election as guv.
Amphorae matured under water because 100BCE
Two weeks ago, we complained the present pattern of aging a glass of wine (and also various other alcohols) underwater. But this week, we were treated to the genuine (albeit unintentional) point when it arised divers had actually discovered an ancient Roman vessel and its freight of wine-filled amphorae on the Mediterranean seabed off the shore of Palermo, in northwest Sicily.
The second such locate of its kind (a few weeks earlier, another ancient wreck– additionally with amphorae of white wine– near the island of Ustica, some 30 miles north of Palermo), both vessels apparently go back ot the 2nd century BCE.
“One of one of the most crucial archaeological finds of recent years,” said UK broadsheet the Guardian, “the findings [from the dive as well as healing] will certainly clarify Rome’s profession activity in the Mediterranean, where the Romans traded spices, a glass of wine, olives and also various other items in north Africa, Spain, France and the Middle East.”
Sicilian all-natural wine, matured in amphora, undersea? Remarkably in advance of its time.