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Sports media startup Wave Sports and Entertainment (WSE) has laid off 56 people—roughly one-third of its staff—as worsening economic conditions continue to hit tech startups.
The Santa Monica-based company began laying off workers last week, the company confirmed to dot.LA. A WSE spokesperson said the “restructuring” will allow the firm to focus on “core areas of expertise” like storytelling and league partnerships, with most of the eliminated roles coming from “supporting functions.” The layoffs, first reported by Insider, leave the company with 110 employees.
“As the industry begins to face economic headwinds, this restructuring will also allow WSE to maintain its strong balance sheet position, continue aggressively investing in key growth areas and manage from a position of strength,” the spokesperson said in a statement.
The startup is only several months removed from announcing a $27 million Series B funding round in February, which attracted investors like private equity firm TZP Group and venture capital firm Crossbeam Venture Partners. Star athletes have also been drawn to WSE’s platform; Milwaukee Bucks superstar Giannis Antetokounmpo joined the company’s Series B round as a “strategic partner,” while other athlete-investors include Cleveland Browns quarterback Baker Mayfield and former Duke University basketball star Jay Williams.
WSE produces sports video content that it publishes on social media platforms such as Snap, TikTok and Facebook, reaching more than 115 million followers globally, according to the company. Its brands—which include BUCKETS, FTBL, and HAYMAKERS—offer sports highlights, commentary and athlete profiles, among other digital content.
The company is far from the only tech firm—from giants Netflix and Snap to startups like Albert—that has slashed staff or slowed hiring in recent months amid increasingly precarious economic conditions. Privately-backed companies have cited a pullback in venture funding behind their need to cut costs, with private investors now also feeling the pain of a stock market that officially fell into bear market territory on Monday.
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Sports media startup Wave Sports + Entertainment (WSE) has raised $27 million in new funding from a host of investors, including reigning NBA Finals MVP Giannis Antetokounmpo.
The Santa Monica-based company announced Thursday that it closed a Series B round led by private equity firm TZP Group, with Crossbeam Venture Partners, GPS Investment Partners, Verance Capital and Nimble Ventures also participating. Milwaukee Bucks star Antetokounmpo joined the round as a “strategic partner,” WSE said—joining existing sports-world investors like Cleveland Browns quarterback Baker Mayfield and former Duke University basketball star Jay Williams.
WSE provides sports content on social media platforms such as Snap, TikTok and Facebook, reaching more than 110 million followers globally, according to the company. Its brands—which include BUCKETS, FTBL, and HAYMAKERS—offer sports highlights, commentary and athlete profiles, among other digital content.
The startup plans to use the new funding to help launch and scale both new and existing brands and shows. It also plans to develop sports betting content, consumer products and in-person experiences, and invest in its content management and analytics platforms.
“WSE represents the future of sports and entertainment for an entire generation of new fans,” company co-founder and CEO Brian Verne said in a statement. “We are evolving legacy sports media by creating content that resonates with today’s audiences and that is designed for the digital formats where they spend most of their time.”
WSE also named media industry veteran Rich Battista as executive chairman of its board of directors on Thursday. The former Time Inc. CEO and Fox television executive is currently a board member at Major League Baseball Players Inc., the for-profit arm of the MLB Players Association. Battista also had a brief four-month stint as CEO of Imagine Entertainment, the Beverly Hills-based film production company founded by Brian Grazer and Ron Howard.
After closing the Series B round, Ishaan Sutaria, who co-founded WSE with Verne in 2017, stepped down as co-CEO and left the company’s board of directors to pursue other business ventures, WSE said.
In December, WSE rebranded from Wave.tv and unveiled a new 8,500-square-foot headquarters in Santa Monica.
- Inside Barcode, the New Kyle Kuzma-Backed Sports Drink - dot.LA ›
- KB Partners' Steven Ahern on How Tech Will Change Sports - dot.LA ›
- Wave Sports and Entertainment Lays Off a Third of Its Staff - dot.LA ›


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U.S. security regulators are investigating gasoline pump failures in additional than 600,000 diesel Ram vans that might trigger the engines to stall or lose energy.
The probe covers Ram 2500, 3500, 4500 and 5500 heavy-duty vans with 6.7-litre Cummins turbodiesel engines.
The Nationwide Freeway Visitors Security Administration says in paperwork posted on its web site Monday that it obtained 22 complaints and two subject studies of engines stalling because of high-pressure gasoline pumps failing. Company paperwork say it has no studies of crashes or accidents.
The company says a assessment of the complaints discovered that the engines cease above 25 miles per hour, disabling the vans.
It says that in November of 2019, Fiat Chrysler (now Stellantis), maker of the vans, issued a guaranty bulletin to sellers telling them to gather gasoline pumps on the vans.
The company says it is opening the investigation to learn how typically the issue occurs, what fashions it covers and whether or not there is a security defect. The probe might result in a recall.
Stellantis mentioned Monday in an announcement that it’s cooperating with the probe.

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Intel is getting ready for a flood of new Ultrabook designs that will not only offer new form factors--including hybrids that can switch between laptops and tablets--but also will continue driving down the price of the systems, with some coming in as low as $699.
In addition, many of the new Ultrabooks--company executives are predicting as many as 75 new designs over the next few months--reportedly should hit the market in time for the all-important back-to-school buying season, according to Intel executives.
Intel executives have been talking about Ultrabooks since May 2011, detailing very thin and light notebooks that offer the same experience as traditional laptops with features--such as always-on capabilities, long battery life and, eventually, touch-screens--that tablets currently offer. The devices are seen as a way for Intel, not only to give a jolt to the slowing PC marketplace, but also to give the giant chip maker another avenue into the booming mobile device space. Currently, most of the smartphones and tablets on the market run chips designed by ARM Holdings and made by the likes of Qualcomm, Texas Instruments, Samsung Electronics and Nvidia.
The first batch of Ultrabooks began showing up on store shelves late last year, made by Lenovo, Dell, Acer, Asus and others and powered by Intel's current Sandy Bridge Core chips. Some were priced as low as $800, but most were more than $1,000.
Now, Intel is preparing to release its next-generation Ivy Bridge Core chips, which promise greater performance and power efficiency than the Sandy Bridge processors, and which Intel officials believe will kick off the new round of Ultrabook designs.
Speaking at the Intel Developer Forum show in China, Kirk Skaugen, general manager for Intel's PC Client group, said the new systems will leverage Microsoft's upcoming Windows 8 operating system and tablet features, including touch-screens.
"I think we can deliver the best of a tablet, and the best in what users know in a notebook," Skaugen told reporters at the show, according to IDG News.
This article was originally published on 04-12-2012


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Nintendo isn’t the only classic gaming company that’s suffering financially. Capcom also released its financial results from April 1st to June 30th, and both sales and profits have declined from the same period last year.
Sales were reported as $104 million, which is a 24 percent decline. Operating income saw a decline as well, hurting Capcom with a $6.9 million loss. Capcom blamed the income loss on “foreign exchange losses caused by the rapidly rising yen”, which is valid, but the main reason the company is struggling is because of the lack of major releases.
The only major games the company published in 2016 are Street Fighter V and Phoenix Wright: Ace Attorney – Spirit of Justice. They also released Umbrella Corps very recently in late June, but that’s simply not enough.


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Commerce Secretary Wilbur Ross said parts of an Asia-Pacific trade deal rejected by the Trump administration could form the basis of a revamped North American Free Trade Agreement.
“There are some concessions that the Nafta partners made in connection with the proposed TPP,” Ross said in an interview May 3 at the Bloomberg Breakaway Summit in New York, referring to the Trans-Pacific Partnership. “There is no reason to throw those away. We would view those as the starting point.”
Just days after taking office in January, President Donald Trump withdrew from the TPP, a 12-nation trade deal his predecessor Barack Obama supported but that hadn’t been approved by Congress. Other nations in the pact, which also included America’s Nafta partners, Canada and Mexico, have expressed interest in trying to salvage the TPP without the United States.
Trump’s criticism of TPP has been similar to NAFTA, which he blames for hurting U.S. workers and hollowing out the manufacturing sector. He’s threatened to withdraw from the accord if the United States can’t negotiate a new version that reduces its trade deficit, particularly with Mexico.
Ross’ comments indicate the United States may look for Mexico and Canada to replicate concessions they made in the TPP negotiations. For example, Canada offered to compensate dairy farmers in TPP member countries, while Mexico agreed to labor reforms such as changes to protect collective bargaining.
Ross said NAFTA is “at best an obsolete agreement.”
He suggested the United States will try to toughen so-called rules of origin that govern how much local content needs to be included in products such as cars. The administration also wants to modernize the agreement to cover digital services and improve the accord’s dispute-resolution provisions, he said.


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In response to Abercrombie & Fitch CEO Mike Jeffries’ comments about plus-sized shoppers in his stores, blogger Jes A. Baker, who is a size 22, posed for striking photos wearing Abercrombie clothing. She talks to TODAY’s Savannah Guthrie about why she chose to take a stand.
Passengers who put their feet on armrests and flip their long hair behind their seats, ugh: TODAY’s Kathie Lee Gifford and Hoda Kotb chat about some of the nightmarish flying experiences their Facebook friends have shared.
Abercrombie CEO's Mark Jeffries' recent claims that his brand is not made for "fat people" was a bold and controversial move, but offensive as his comments were, is he being savvy about target marketing? Full story
(Reuters) - Abercrombie & Fitch Co <ANF.N> on Friday reported a drop in comparable sales during the holiday quarter on weakness at its overseas stores and in its Hollister chain, and the youth retailer warned of a sluggish start to the new fiscal year. Full story
In a shift that is upending retailers’ plans, many children, teenagers and their parents are delaying their school purchases. Full story


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On Wednesday, Google came out strong against Microsoft, Apple, Oracle and other companies, arguing that they are waging “a hostile, organized campaign against Android” by purchasing a large number of “bogus patents,” which can then use in lawsuits against Google.
Google Senior Vice President and Chief Legal Officer David Drummond explains their side of the story on the company blog:
“They’re doing this by banding together to acquire Novell’s old patents (the ‘CPTN’ group including Microsoft and Apple) and Nortel’s old patents (the ‘Rockstar’ group including Microsoft and Apple), to make sure Google didn’t get them; seeking $15 licensing fees for every Android device; attempting to make it more expensive for phone manufacturers to license Android (which we provide free of charge) than Windows Phone 7; and even suing Barnes & Noble, HTC, Motorola, and Samsung. Patents were meant to encourage innovation, but lately they are being used as a weapon to stop it.
“A smartphone might involve as many as 250,000 (largely questionable) patent claims, and our competitors want to impose a “tax” for these dubious patents that makes Android devices more expensive for consumers. They want to make it harder for manufacturers to sell Android devices. Instead of competing by building new features or devices, they are fighting through litigation.
“This anti-competitive strategy is also escalating the cost of patents way beyond what they’re really worth. The winning $4.5 billion for Nortel’s patent portfolio was nearly five times larger than the pre-auction estimate of $1 billion. Fortunately, the law frowns on the accumulation of dubious patents for anti-competitive means — which means these deals are likely to draw regulatory scrutiny, and this patent bubble will pop.”
Microsoft quickly fired back, saying that they had tried to team up with Google to bid on the patents, but Google declined the offer.
“Google says we bought Novell patents to keep them from Google. Really? We asked them to bid jointly with us. They said no,” tweeted Microsoft General Counsel Brad Smith
TechCrunch reports that Microsoft Head of Communications Frank Shaw added to the return fire with a tweet that revealed another Google lawyer, Kent Walker, had declined Microsoft’s request to team up on a patent bid back in October 2010.
The revelation that Microsoft was, in fact, trying to work together with Google, not against it, has led many to argue that Google is just acting like a sore loser.
“They’re effectively arguing against the idea of the patent system itself, simply because Android violates a bunch of patents held by Google’s competitors,” writes Daring Fireball’s John Gruber (a well-known Apple enthusiast). “It’s not ‘patents’ that are attacking Android. It’s competing companies whose patents Google has violated — and whose business Android undermines — who are attacking Android.”
While Google may have undermined its own argument by saying that Microsoft was waging an attack when it had evidently tried to join forces, some contend that Google didn’t go nearly far enough. Rather than fight against specific patents, some say the company should come out against software patents entirely, a stance supported by many computer programmers.
“Google is one of the world’s largest and most prominent victims of our innovation-taxing patent system, so lobbying for better patent laws seems like an obvious way to fight back,” writes Timothy Lee in Forbes.
As Lee points out, Congress is currently working on patent reform legislation with the America Invents Act. But this bill, says Lee, only offers “modest procedural changes,” and will do little to prevent “the kind of abusive litigation that’s now plaguing Android.”
Google is far from the first organization to point out how broken the US patent system is, especially when it comes to software patents.
Last month, both NPR and the Economist published in-depth reports that offer a wealth of evidence that proves just how broken the US patent system is. Whether or not Google’s crusade will help push forth real change in this area — or even if Google wants real change — remains to be seen.
- Google Pixel 8 and Pixel 8 Pro are still at their Black Friday prices
- Best Google Pixel deals: Save on Pixel 8, Pixel Buds, and Pixel Watch
- Google Pixel Fold just got a huge price cut for Black Friday
- Best Buy Black Friday deal knocks $100 off the Google Pixel Tablet
- Google Pixel 8 and Pixel 8 Pro just had their prices slashed


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The squeeze on household incomes and continued new car supply constraints mean that the UK’s car finance sector is likely to be restricted to ‘single-digit growth’ in 2022, the FLA has said.
The Finance and Leasing Association’s March car finance sector data showed that business volumes rose by just 2% to £4.75 billion on a 2021 period hampered by ongoing COVID-19 trading restrictions in the sector, as the value of new business rose by 8% to 238,667 vehicles.
It marks a slowdown of the recovery at the end of a Q1 2022 period which, as a whole, delivered new business volumes up 18% on the same quarter in 2021, at 570,081 vehicles, as values rose by 28% to £10.65bn.
Geraldine Kilkelly, the FLA’s director of research and chief economist sought to highlight the impact of supply constraints on the automotive recovery, but also warned of the impact of the UK’s cost of living crisis.
She said: “The slowdown in growth reported by the consumer car finance market in March was primarily driven by the adverse impact of supply shortages in the new car market. The consumer used car finance market remained buoyant reaching new heights in March as monthly new business surpassed £2bn for the first time.
“The UK economic outlook has weakened significantly because of the squeeze on household incomes and business profit margins from higher inflation.
“Pressure on household incomes this year and the ongoing vehicle supply issues mean the consumer car finance market is likely to record single-digit growth in the value of new business in 2022 overall.”
Kilkelly's comments come a month after the FLA said a “difficult” near-term economic outlook had caused it to reduce its value growth projection for the sector from 11% to 7%.
Kilkelly added: “As always, any customer worried about meeting payments should speak to their lender as soon as possible to find a solution.”
According to the FLA’s data, the consumer new car finance market reported a fall in new car business of 6% by value (to £4.64bn) and 8% by volume in March (to 188,335) compared with the same month in 2021.
In Q1 2022 overall - a period reported by the Society of Motor Manufacturers and Traders (SMMT) to be down 1.9% by volume in Q1 - new business volumes in this market were 6% higher than in the same quarter in 2021 at 748,339 as the value of business rose 9%, to £17.89bn, perhaps due to OEMs focussing on higher-priced vehicles and EVs.
Plugging the gap in March, the consumer used car finance market reported new business up 31% by value, to £2.2bn, and 10% by volume to 136,315 compared with the same month in 2021.
In Q1 2022 overall, new business volumes in this market were 26% higher than in the same quarter in 2021, at 381,746, as values rose 21% to £1.44bn.


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BY DR. LLOYD COVENS
The more than 4500 files sent into the Food and Drug Administration last month may look like the start of a major fact-finding journey to prepare a reasonable solution to the “CBD food/drink additive” issue.
But savvy Washington watchers are in agreement– FDA has no plan to bring an interim arrangement to deal with the CBD-confusion it has created– and it will be compelled later this year when a Congressional enactment of a solution will be introduced.
“FDA could make clear that any CBD products that remain on the market — subject to a limited period of enforcement discretion — may not make any claims to treat disease. Other claims — for example, that it might help with relaxation — would have to be substantiated with evidence,” writes former FDA head Scott Gottlieb. In a Washington Post newspaper editorial, Gottlieb argues “this framework should also be expressly unique to CBD. Otherwise, there’s a risk it becomes a precedent for food and supplement makers seeking a back door to add other drugs to foods,” said Gottlieb. See his full article on CBD below,” Gottlieb writes.
Now, with major parts of the industry dependent on some clarity from FDA– and an equally large part of the farming industry waiting for USDA guidance— the US hemp industry must now hold on until October for rules to allow legal production of CBD, and an equally important set of policies to bring responsible new CBD-based products to market.
Of special interest will be the rules allowing CBD into non-alcoholic drinks— something being closely monitored by giants like Coca Cola, Diageo, Proctor and Gamble, Constellation Brands, Molson-Coors and Anheuser-Busch. All the majors have contacted CBD makers to respond to a ton of analytical questions over hemp sourcing, CBD purity, and technical responses which the beverage makers think will make their drinks successful in a market expected to surpass over $2Bil per year after 2021.
Pressure from hemp state Senators–consumer groups, anti-Chinese American farm interests, and a rising tide of patients wanting unfettered CBD access now (not after 2 or 3 years of clinical studies) means the political winds swirling around the FDA will not slow down until the agency issues an interim temporary rule.
They may decide to allow some low level of CBD, such as 12MG, to be combined in one serving of a food or a beverage. For over-the-counter daily oils, capsules or other “medicine-looking” formulas, the FDA could allow daily dosing to reach 60MG/daily without any prescription or healthcare oversight. And then, a pharma-grade dose (only available from your physician by RX) could be permissible for daily use exceeding 61MG, much like the several hundred milligram dosing supplied by GW Pharmaceutical’s Epidiolex.
Other OTC items– like Aleve-naproxen or like fish oil– have been allowed a dual higher/lower dose to enter the market where lower dosing ensures the public is unlikely to face adverse effects from suggested use. In fact, GW itself says its years of clinical study of CBD found no consumer side effects until dosing surpassed 65MG a day, suggesting “liver toxicity” might occur beyond that level. A prescription ensures that those levels will be monitored by a physician, adding to consumer safety.
Meanwhile, certain states– California and Connecticut continuing to move ahead to join Colorado and New Mexico— are moving ahead to pass laws which will allow the non-adulterated addition of CBD into that state’s food, drinks and cosmetics. Those laws will initially keep those products only being sold within their state boundary, bottled up by the FDA’s continuing “unproven” challenge that CBD has not been found safe. Consumer Reports estimates more than 4.6Mil. US consumers are now actively taking CBD products within the past 30 days. And not one of those users (let alone another 2.6Mil medical cardholders in the US) have reported a hospitalization, a long-term sickness, or a fatality from the use of CBD.
Following on last week’s Senate Agriculture hearing, Washington is expecting the offices of the FDA, the EPA and Ag to be visited by a strong message from Kentucky’s senior Senator, Mitch McConnell, and other farm state Senators. Their message: Let this American agriculture community thrive and reduce/remove barriers to a wide–and completely legal access to tested CBD for human consumable products.
–Based in Denver, Dr. Lloyd Covens, DBA is a seasoned cannabis industry journalist and the publisher of West420 NewsWeekly. Writing his doctorate on diffusion of innovations, Covens has been an expert journalist/researcher for 20 years chronicling new technology, global television and renewable energy advancements. He has reported on developments in the cannabis and hemp industry with weekly reports since 2014 covering the western U.S. for legal medical cannabis, recreational sales and hemp production. Covens is also the creator of the annual CO Hemp CBD Conference held in Pueblo, Colorado.


text: Baxter and Bailey creative director Matt Baxter pops up in today’s Daily Telegraph to share his thoughts on brand impact, measurable success and the important role of a CDO (Chief Design Officer) on the board of successful businesses. Telegraph journalist Katie Hope approached Matt for comment, alongside Sarah Weir, chief executive of the Design Council, and Anna Soisalo, executive director at Smart Design. On the subject of impact, Matt had this to say: “For our education clients, good design can help encourage potential undergraduates to apply to a certain university. For our charity clients, good design can help persuade people to donate or to get involved in a cause. The end goal of the design challenge should be understood from the outset.” You can read the full article on the Telegraph website right here.


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- 2018 was a rough year for some retailers, and the state of their stores reflected that.
- Sears, JCPenney, and the now-defunct Toys R Us are among the retailers that struggled the most. They also had some pretty disorganized stores.
- These were the messiest stores we visited in 2018.
2018 was a rough year for some retailers.
There are a number of reasons that so many stores had a difficult year. Toys R Us was forced to liquidate because it was unable to sustain its debt load after a leveraged buyout in 2005. According to a filing with the bankruptcy court, Toys R Us had still been making $400 million payments on its debt every year.
Department stores, in particular, have been struggling because of declining foot traffic to malls and a disappearing middle class. Sears, JCPenney, Lord & Taylor, and Macy's have all closed stores in the past year, and in October, Sears filed for Chapter 11 bankruptcy protection. Sears has been closing stores and selling off assets following years of crippling sales declines.
The rise of e-commerce has also played a role in the downfall of some retailers that are struggling to keep up with the likes of Amazon. And while many stores have been working on improving their strategies to compete, it hasn't always been enough. Even on Black Friday, traditionally one of the biggest shopping days of the year, stores were relatively empty.
All of these factors have been causing brick-and-mortar stores to struggle. During our visits to stores this year, we found that some had empty shelves and no shoppers, some were so crowded with inventory that they were hard to navigate, and others were a complete mess.
Of the dozens of stores we visited in 2018, these were in the worst shape:


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In 2015, some $199m was invested in almost 9,000 start-ups around the world, according to the 2015 Global Accelerator Report from Gust and Fundacity.
The report, which provides an important insight into how the accelerator industry globally is evolving, surveyed 836 organisations, out of which 387 qualified as accelerators.
These 387 accelerators invested in 8,836 start-ups during 2015.
The US and Canada lead with the most investment ($90m), followed by Europe ($41m) and Latin America ($31m).
Europe leads the world in new accelerator launches
In 2015, 77 new accelerators programmes were launched around the globe; with the most (26) launching in Europe.
The Middle East has the highest number of not-for-profit accelerators (49pc); most other regions are comprised of between 75pc and 65pc for-profit accelerators.
Some 91pc of accelerators rely on alternative revenue sources to start-up exits in order to operate in the short-term, yet 25pc report relying on start-up exits in the long-term.
Europe has the highest number of accelerators that rely on funds through corporate sponsorship in both the short-term (78pc) and long-term (64pc).
The most active accelerators in 2015 were Entrepreneurial Spark (UK), which accelerated 660 start-ups, followed by Plug and Play (global), which accelerated 403 start-ups, and Start-Up Chile, which accelerated 250 start-ups.
The most popular category of start-up ideas that accelerators reported an interest in investing in were internet of things (75pc), big data analytics (65pc), SaaS (65pc), and fintech (64pc).
Accelerators image via Shutterstock


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PUTRAJAYA (April 13): The Royal Malaysian Customs Department has opened 13 investigation papers on unregistered businesses charging the goods and services tax (GST).
Customs director of GST Datuk Subromaniam Tholasy said prosecution against these companies was expected to begin this week.
"These companies are mainly from Klang Valley and Johor, and involved in restaurant and sundry shop operations
"They imposed GST although they are not resgistered, this is a serious offence," Subromaniam said.
He was speaking at a press conference on GST organised by the Finance Ministry here today.
Malaysia has implemented GST starting from April 1 this year.
Under Section 96 Goods and Services Act, upon conviction, a company is liable to a fine not exceeding RM30,000 or jail term of not more than two years or both. The offender is also liable to a financial penalty amounting to twice the amount of tax collected.
Meanwhile, Subromaniam said price of goods were expected to stablise in the "next month or two", after the GST implementation. He said the Customs, and Domestic Trade, Cooperative and Consumerism Ministry, would work together to make sure price of goods come down.
Subromaniam said regulators would ensure that traders, who had paid 10% sales tax on their stocks, remove the sales tax if they were entitled to the refund. This is because the sales tax and GST had made products more expensive.
"We'll make sure our auditor go in and look at the prices before and after. For those companies which are entitled for the (10% sales tax) refund, surely they need to discount the sales tax, then only they can add on the GST," he said.
Consumers have complained to the authorities on costlier goods and services, after the GST was implemented.
As at April 12, the ministry had received 4,023 complaints regarding GST, of which 1,754 complaints or 44% were on price hike of goods hike. The most popular complaints involved food and beverages in restaurants, baby milk powder and diapers.


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WEAR - Search Results
Dozens of new jobs coming to East Milton
EAST MILTON - Dozens of new jobs could be coming to East Milton.
Santa Rosa County is now advertising the sale of a 10 acre piece of land in the Santa Rosa Industrial Park.
A manufacturing company has been eyeing the location, with plans to hire 50 new positions.
The name of the company is being kept under wraps until the deal is finalized.


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Mars, Outback Steakhouse, McDonald's, and others ranked on animal welfare equity in new Mercy For Animals report.
LOS ANGELES, Nov. 16, 2021 /PRNewswire/ -- Mercy For Animals, in partnership with a coalition of animal protection organizations, released the inaugural International Cage-Free Equity Index. The report assesses 39 well-known restaurants and manufacturers on the geographic scope and international equity of their cage-free egg commitments. The report is available here.
Companies include PepsiCo, Burger King, and Subway. Unilever and Shake Shack are among the top performers, while Mars, Outback Steakhouse, and McDonald's rank poorly.
"Concerns about animal welfare and food safety do not end at the borders of the U.S. and European Union," said Zoë Sigle, global corporate engagement manager at Mercy For Animals. "Excluding consumers and animals in the global South from corporate social responsibility is inequitable and unacceptable. We call on corporations with cage-free egg commitments in the U.S. and EU to expand their commitments globally."
Virtually every major U.S. and European food company has pledged to end the use of cages in their U.S. and European egg supply chains—to improve not only hen welfare but food safety, as hens in cages have higher risk of Salmonella infection.
But not all international food companies have moved to eradicate cages globally. While commitments have driven industry-wide shifts away from cages in the U.S. (32% of hens are cage-free) and EU (52% of hens are cage-free), the vast majority of hens in many global South countries are caged. For example, in Brazil, 95% of laying hens are caged; in China, 97%; in Mexico, 99.5%; and in India, 100%.
This report serves to inform consumers about how companies prioritize international equity regarding animal welfare. Companies are urged to publish meaningful, time-bound cage-free policies for their global supply chains and report progress toward their commitments.
Mercy For Animals is a leading global nonprofit working to construct a compassionate food system. Active in the United States, Canada, Mexico, Brazil, and India, the organization has conducted more than 80 investigations of factory farms and slaughterhouses, moved more than 300 food companies to adopt animal welfare policies, and helped pass historic legislation to ban cages for farmed animals. Join us at MercyForAnimals.org.


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Telstra and the National Australia Bank (NAB) have joined forces to create a digital business marketplace — dubbed Proquo — designed to provide small businesses with an online platform where they can network, trade or swap services with each other.
iTWire today had a face-to-face chat with Evan Goldberg, founder and chief technology officer of cloud-based ERP vendor NetSuite. iTWire asked what he could teach software developers about starting a company.
For the past 12 weeks’ start-ups have been working with corporate accelerator Slingshot to polish their hopefully, investor attractive, innovative health care apps.
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NBN are so bad at what they do. Missed appointments are a given in nearly all installations, and just a[…]
Yes indeed, but that pre-supposes the existence of executives who a) actually understand a business model of revenue & profit[…]


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We’re excited to announce the Poq Autumn ’14 Release, which allows retailers on the Poq platform to roll out fully native apps for Android!
It’s time to bring the beauty and simplicity of native apps to Android, so all Christmas shoppers can get the fast and beautiful shopping experience of native apps.
Android has really taken off in retail this year, and is now up to a third of the mobile traffic. Retailers often have amazing native apps for iPhone and iPad, but great Android apps are not yet common.
We’ve spent the last 6 months building a fully native app platform for Android, to complement our existing iPhone and iPad offering. Retailers on our platform can now manage both platforms on one system. Check out some of our apps here: Blue Inc, Officers Club, People Tree.
Having one central place for all content, reports, analytics and management is a huge time-saver. Our iOS and Android platform is fully native, which means the apps are built for the device they are on, improving the user experience to get a 2-3 times higher conversation rates and provide a better in-store experience.
It’s common knowledge that Android now powers the majority of phones shipped globally. What most people don’t know is: Many of these phones were cheap, low end devices. Traffic to retail websites in the UK generally stems from expensive iPhones and iPads and that caused 90% of the traffic coming from iPhones and iPads.
During 2014 we have seen a strong rise of Android mobile traffic, especially for retailers with younger target demographics like Blue Inc. On average between 29% of mobile traffic now comes from Android devices, the vast majority of that from high end Samsung devices such as Samsung Galaxy S3, S4 and S5. The latest generation of Android devices are fast, powerful devices with great screens, great for mobile ecommerce! We believe this trend will continue, and therefore Android should be treated as a key area of investment.
In fact the biggest retailers in the Internet Retailer’s Mobile 500 have already launched native Android apps with huge success. Of the top 500, 233 have launched native iPhone apps and 204 native Android apps. With an average of 42% of mobile revenue coming from apps, the way to success can only be to serve both Android and iPhone natively.
Comscore recently reported that a third of retailer’s mobile users are mobile-only. We think it’s a waste to only serve a stripped-down mobile website to mobile-only Android users.
We’re now making Android apps available to all retailers on the Poq platform. The apps have already been featured in Retail Week and Direct Commerce Magazine. Check out some examples here:


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Consultations launched for Thurrock river crossing
Both consultations will lay the legal foundations for changes to how road user charges will be collected and enforced under a free-flow operation at Dartford.
Free-flow technology will allow motorists to use the Dartford Crossing without having to stop at barriers to hand over payment. It will allow the remote collection of payment through a variety of methods including telephone, text message, online, and at retail outlets - giving motorists greater flexibility in how and when they pay the charge.
Free-flow charging is part of a package of planned improvements being carried out by the government to improve motorists' experiences in using the Dartford Crossing. Discounts will remain in place for those that set up an account and pay in advance and for those that qualify for the Local Residents' Discount Scheme.
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Barclays has announced that it will be closing its bank in Desborough later this year.
The company has said that its branch in Station Road will close its doors to customers on October 30.
One of the reasons given for the closure is that the number of people using the Desborough branch has fallen by nearly half since 2008.
Barclays community leader for Northamptonshire, Mia Cooper, said: “The way customers undertake their banking is changing as people increasingly use online, telephone and mobile devices.
“We must therefore evolve the shape and size of our branch network in response to changing customer behaviour.
“At Barclays Desborough branch, customer usage has declined by 49 per cent since 2008 and half of our personal customers regularly use alternative branches, which is why we have taken the difficult decision to close the branch on October 30 2015.
“Our colleagues at the Barclays Desborough branch have been consulted about the change and will be given the opportunity to work at a nearby branch.
“We hope that the availability of nearby branches, access to services at the local Post Office and our range of digital channels will help to ease the transition for our customers.”
She said information will be going out to customers about the planned closure, and added: “We do not take the decision to close any branch lightly and we are committed to adhering to the new UK Government protocol on branch closures.
“All of our customers will receive a letter, posters will be displayed in branch and colleagues will be on hand to assist customers with any concerns they may have.
“We will be proactively engaging with local businesses and the wider community to discuss the alternative ways customers will be able to undertake their banking locally, before the branch closes on October 30 2015.”


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Japan retail sales rebound
Japan retail sales bounced back in April according to trade ministry data.
Rising five per cent in the month, year on year, the figure reversed a three month long downward trend and gave the Bank of Japan room for cautious optimism on the overall state of the nation’s struggling economy. In March, retail sales fell nine per cent, although that was largely due to an irregular March 2014 when consumers brought forward spending prior to a sales tax increase on April 1.
The BoJ says the retail figures show consumers are more confident, easing the pressure on the bank to prolong a stimulus program.
Based on a seasonally adjusted month on month basis, Japan retail sales rose 0.4 per cent in April following a drop of 1.8 per cent in March.
The Japanese economy expanded at the fastest rate in a year in the first quarter, finally emerging from the 2014 recession.


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Handling Cross-Border Payments
dLocal is a fintech startup company that handles cross-border payments and provides platforms in 29 countries, enabling major companies, including Amazon and Booking.com, to charge business consumers in various currencies through local credit card payments, bank transfers, and more.
Moreover, dLocal provides money transfer services to companies that want to send money to agents and contractors, such as Uber. dLocal’s main concept, known as “One dLocal,” consists of a direct application programming interface (API), a platform, and one contract that allows global companies to receive and send payments.
Moreover, the startup’s platform settles funds around the world without being required to handle separate pay-in and payout processors. It also establishes numerous local entities and integrates multiple buyers and payment methods in each sector.
The fintech startup company has more than 325 merchants around the globe, including ecommerce retailers, software as a service (SaaS) companies, online travel companies, and marketplaces. dLocal’s other well-known clients include Banggood, Constant Contact, Didi, DropBox, GoDaddy, MailChimp, Microsoft, Spotify, TripAdvisor, Wikimedia, and Zara.
The fintech business has separately announced the appointment of a former JP Morgan banker, Sumita Pandit, as its new chief operating officer (COO), while the startup’s former COO, Jacobo Singer, is now the president of the fintech startup.
Pandit has almost 20 years of experience in the investment business banking sector. He previously served as an advisor to companies in various fintech areas, including payments, financial software, neo-banks, and insurtech. Apart from JP Morgan, Pandit also worked at Goldman Sachs.
"I am excited to join the team during a period of strong growth. Sebastián and Jacobo have built a generational business. I am looking forward to partnering with them as we focus on delivering long-term value for our merchants, consumers, and partners,” Pandit said in a statement.
dLocal believes that newly-appointed Pandit will help the company provide services to global merchants that are looking to lure consumers from emerging markets, Kanovich said.
“Emerging markets represent some of the fastest growth opportunities in digital payments, underpinned by a rising middle class and the rapid growth of e-commerce. dLocal’s unique platform empowers merchants with a single integrated payment solution, to reach billions of customers, accept payments, send payouts, and settle funds globally,” said Deepak Ravichandran, general partner at Alkeon Capital.
The South American business entered the unicorn territory in September of last year when it secured $200 million and reached a valuation of $1.2 billion. The company’s existing investors also include General Atlantic and Addition.
South American fintech startup dLocal secured $150 million in the latest funding round led by Alkeon Capital, taking its business valuation to $5 billion. Furthermore, the startup has appointed a former JP Morgan and Goldman Sachs banker Sumita Pandit as its new COO to replace Jacobo Singer, who is now the president of the fintech company.
About the Author
Luigi Wewege is the Senior Vice President and Head of Private Banking at Caye International Bank. Outside of the bank, he serves as an instructor at the FinTech School which provides online training courses on the latest technology and innovation developments within the financial services industry. Luigi is also the published author of "The Digital Banking Revolution."


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A new brewery is coming to Montgomery County.
After years of planning, husband-and-wife team Brendan and Bailey O’Leary are expecting to open True Respite Brewing Co. in December.
They signed a lease Tuesday morning for a 9,554-square-foot space at 7301 Calhoun Place in Derwood.
“Oh my gosh, we’re pumped,” Brendan O’Leary said Tuesday afternoon.
The O’Learys had been hoping to open a brewery in the county since April 2014 and said they toured about 15 to 20 spaces before eventually settling on the final site, which is off Gude Drive. They liked it for its three glass walls and open look, as well as its high ceilings necessary for brewing equipment.
As its name suggests, the O’Learys hope the brewery will be a place people will go to relax. Bailey O’Leary said the interior would have a “modern adult treehouse” design to evoke the feelings of comfort and escape. This is no child’s treehouse, though—the brewery equipment will be visible from the taproom.
“We want people to come in and get the full experience of being in a brewery while still being comfortable,” she said.
True Respite joins a handful of breweries in the county, including Denizens Brewing Co. in Silver Spring, 7 Locks Brewing in Rockville and Waredaca Brewing Co. in Gaithersburg. Chains Rock Bottom and Gordon Biersch also operate breweries in Bethesda and Rockville.
The taproom will cover 2,500 square feet, while the brewery will also feature a 1,200-square-foot walk-in cooler space. The other 5,800 square feet will be used for production space and storage.
True Respite Brewery’s 15-barrel brewhouse will be capable of brewing 465 gallons at a time, Brendan O’Leary said. It will use another 3.5-barrel system allowing them to brew 16 different small-batch for the tap room.
The brewery will start with about 2,000 barrels per year at the location, but he said they will look into opening a larger production brewhouse once they exceed the volume that can be produced there.
He said they will be “constantly rolling through new recipes,” but have so far settled on six staples they will offer: roasted English stout, white wine-inspired grisette, Belgian golden strong, American IPA, Belgian wit and a Belgian double.
“We’ll let our customers dictate what stays on tap,” he said.
He noted that they have not yet announced the name of their brewmaster.
The couple initially planned to open a brewery in downtown Bethesda, but the lease fell through and Brendan O’Leary said they “fell in love with Rockville” and are happy to have found their new space just north of the city.
They will not serve food at the brewery, but they will host food trucks, Bailey O’Leary said. They will also keep local red and white wines on the menu.
True Respite Brewing Co. will probably be closed Mondays and Tuesdays and open from 4 to 9 p.m. Wednesdays and Thursdays, 1 to 10 p.m. Fridays, 11 a.m. to 10 p.m. Saturdays and 11 a.m. to 9 p.m. Sundays.
The brewery will not be affected by a brewery bill that Gov. Larry Hogan allowed to become law without his signature last week. That bill targets breweries larger than True Respite, permitting them to serve more beer in their taprooms but limiting their hours.
Brendan O’Leary said the Gude Drive area is becoming a “brewer’s alley” with True Respite Brewery as well as Twin Valley Distillers, Mayorga Organics and the planned Saints Row Brewing. He plans to work with and promote these other beverage companies as he brings his own brews to the area.
“Rockville is really underserved,” he said. “It’s a community that’s really, really thirsty for some great local craft beer.”
Above: A mock-up of beer taps at the brewery, provided by Brendan O’Leary.
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Shanghai Auto Show of 2017 welcomed companies, car enthusiasts and vehicle experts around the world. Famous car companies showcased amazing new cars at the auto show of Shanghai. Some of the best cars showed at the event are as follows.
This amazing concept of Vision E was a stunner at the 2017 Shanghai Auto Show.
This one of the best cars showcased at the Shanghai Car show. It is ERX5 crossover from Shanghai Automotive’s Roewe brand. This car is made by Britian’s famous car brand, Rover.
BYD’s Dynasty crossover concept stole the 2017 Shanghai Automotive show. Legendary investor Warren Buffett has a major investment in BYD.
Hongqi launched its original S-Concept in the Shanghai Car show 2017. Hongqi is China’s major automotive car brand.
The famous car company Lynk & Co launched its new 01 crossover, also known as the ‘Digital Crossover’.
Changan also launched its new CS55 crossover concept in the Shanghai Auto Show 2017.
Tiggo Coupe Concept was launched by the famous car company, Chery.
Beijing Automotive company launched an armored-styled vehicle known as BJ80. This vehicle is military-styled and rugged.
Senova D50 sedan also raised some eyebrows in the Shanghai car show.
The EP9 supercar.
Shanghai Automotive’s MG E-Motion was one of the best-looking cars in the Shanghai Auto Show 2017.
GM unveiled its hybrid Chevrolet FNR-X plug-in crossover concept.


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For many businesses, 2020 was written off as a lost year. Major projects were put on hold; others were reimagined into something that still turned a profit, albeit a smaller one. Budgets were adjusted. Perhaps most notably, a mass migration to remote work occurred, leaving executives to pay rent on unused office spaces.
According to the Economist, before the pandemic, Americans spent 5% of their working time at home. BY spring 2020, that number skyrocketed to 60%. Zoom learning curves aside, the transition went better than expected. But, privacy concerns quickly overshadowed convenience. IT professionals had more immediate problems to troubleshoot than glitchy virtual trade show platforms or employees resistant to restart their computers.
"As people brought their computers home, they also brought the webcams needed for Zoom meetings into their home," noted Lori Metz, CEO of C-Slide, Lehi, Utah. "These can easily be hacked and people can unknowingly open their home up to be seen and heard by cyberattackers."
Security breaches may not stop there. Ambitious criminals can hack into a device's microphone and hear personal or business conversations that could expose sensitive information or confidential strategies. The good news is there are tech accessories that eliminate security risks or address other pandemic-inspired concerns. Print+Promo Marketing connected with Metz, and Wendy Knapp, vice president of sales for iClick, Seattle, to learn more.
read Elise Hacking Carr's full article here: http://digitaleditions.napco.com/publication/frame.php?i=703537&p=46&pn=&ver=html5


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The Brampton Chrysler Assembly Plant will be closed for the rest of January due to a widening global shortage of the semiconductors used in auto parts. The shortage has affected the entire automotive industry.
The effect of this closure is that around 3,000 workers will be on a temporary layoff as Fiat Chrysler deals with the microchip shortage.
A company spokesperson said that the plant being idled right now will minimize the impact of this shortage and make sure that the company overall can continue production.
There is another company plant closed down for now in Mexico, and other car companies such as Honda and Nissan are also lowering output.
The Brampton plant manufactures the Chrysler 300 as well as Dodge Charger and Challenger.


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LifeStages program is expected to enable one-on-one resolution services and consultation on-demand
Midwest-based Partners Mutual Insurance (Partners) has launched identity theft resolution services by Identity Theft 911, America’s identity management and identity theft resolution services.
The company claims, that the identity Theft 911’s LifeStages program would enable one-on-one resolution services and consultation on-demand, besides access to certified fraud specialists, including credit and fraud monitoring tools. It also provides assistance with placing fraud alerts, completing fraud affidavits, replacing documents and interfacing with police departments, creditors, collection agencies and credit rating bureaus.
LifeStages program offers online access to Identity Theft 911’s educational material, including daily threat alerts, investigative articles, monthly newsletters, white papers and preventative tips.
Rick Ewert, President and CEO, Partners, said: “Through the experts at Identity Theft 911, our customers can benefit from personalised fraud assistance, resolution services and proactive identity theft education when they lose a wallet, have their mail stolen, discover forged credit accounts opened in their name, and other potentially damaging situations.”


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The update to Google Assistant in Android Auto also brings tighter integration with the vehicle systems, with Google saying that cars from BMW, Mercedes-Benz and Hyundai, Kia and Fiat Chrysler will also let you check your fuel level, lock doors, and more.
According to The Verge (via Android Police), the previous implementation on Android Auto used Google Voice search. The experience was tardy and not a whole lot of users could get anywhere close to the page, given how hard to reach it was. You can also look for a specific command, using the included search option.
To help its users a bit, Google is launching a new directory page for the Google Assistant today. Let us know by commenting below.
3 injured in fire near top of Trump Tower in NY
An unnamed fire official said the blaze started in the cooling vents with no danger inside the building. Someone called from their phone to report the incident to the fire department.
The news of more headphones with Google Assistant inside comes days after Amazon announced the launch of its Alexa Mobile Accessory Kit to put the AI assistant into more headphones and wearable devices.
Developers that create apps for Google Assistant build actions into these apps, expanding the capabilities of the Assistant and making it more useful for users.
Reviews of the Google Assistant experience with Pixel Buds and Bose QuietComfort 35 II found this to be a standout issue, since accessing the real estate in your ears is markedly different from delivering a buzz in your pocket or a card that pops up on your phone's lock screen.
Israeli killed in West Bank shootout attack
Settlements are illegal under worldwide law and are one of the main obstacles to peace between Israelis and Palestinians. About 600,000 Israelis live in West Bank settlements.
Finally, Google is expanding Assistant further into existing categories, including TVs and headphones. Starting this week in the US, the Assistant is coming to Android Auto. To make the platform more enticing, it is consolidating its disparate commands under the name "Actions". We're calling them Actions. If last year's CES was the year of Alexa, Google Assistant is dominating the conversation in 2018. With these integrations, millions of new smart home devices are being connected to the Assistant every month, so you can stay in control, whether you want to heat up the house, check on the laundry or make sure you locked the back door.
Actually, don't do that.
LaMelo and LiAngelo Ball Earn a Win In Lithuanian Debut
LaMelo Ball added 10 points and 9 assists, inlcuding this no-look pass from that showed his flair. The Ball brothers will play for BC Vytautus as their squad takes on BC Zalgiris at 1:30 p.m.


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Hertz Global Holdings Inc. (NASDAQ: HTZ) reported earnings yesterday that fell short of expectations, primarily due to several challenges it encountered, including price cuts by Tesla and the elevated repair costs associated with electric vehicles (EVs).
Tesla’s aggressive price reductions aimed at boosting sales have had a significant impact on the resale value of EVs within Hertz’s fleet, causing a decrease of approximately one-third. Furthermore, the repair expenses for EVs have been unexpectedly high, nearly double the costs of repairing gasoline cars, according to CEO Stephen Scherr.
In the third quarter, the rental car company disclosed an adjusted profit of 70 cents per share, falling below the 77-cent average estimate projected by analysts surveyed by Bloomberg. Scherr noted that excluding the EV-related expenses, Hertz would likely have met Wall Street’s expectations.
As a result of these challenges, Hertz’s stock plummeted by as much as 15% in New York, compounding the losses it had already experienced, with the stock having depreciated by a third of its value since the start of the year.
To address these issues, Hertz intends to slow down its EV procurement efforts while focusing on cost management. Currently, Hertz boasts a fleet of 50,000 EVs, with Tesla models accounting for 35,000 of them, constituting roughly 11% of the total fleet. Despite these setbacks, Scherr emphasized that Hertz is still committed to acquiring 100,000 vehicles from Tesla and an additional 175,000 EVs from General Motors Co. However, achieving the goal of having EVs make up 25% of the fleet by the end of 2024 seems unlikely. The immediate priority is to collaborate with parts suppliers to reduce repair costs, and as EV prices stabilize, Hertz plans to expand its EV fleet.
Scherr explained, “We have an opportunity to purchase these cars now at roughly a third less than where we bought the initial component of our Teslas. We’re ultimately better buyers on a falling price where the margin composition on those cars will be better. They will be even better to the extent that we solve the issues around damage and cost.”
In the current year, Hertz plans to procure 10,000 EVs from GM, with commitments to purchase an additional 165,000.
The increased depreciation costs, which surged by 52% in the quarter to $282 per car per month, were not solely due to falling EV prices. A year ago, Hertz was able to sell its used vehicles at higher prices, as the resale market was flourishing. In comparison, the company is projected to make $800 million less from vehicle sales this year compared to the previous year, as Scherr pointed out.
Scherr noted, “In 2022, the residual prices of used cars were through the roof, but the ability to sell cars and make a profit has come down.”
Despite these challenges, the demand for travel continues to grow following a robust 2022. Hertz’s utilization rate for the quarter was 83%, up from 80% the previous year. However, the revenue per day declined by 7% to $62.46.
On the other hand, Tesla’s own Q3 2023 financials fell short of expectations as the price cut strategy did not yield the expected volume growth the automaker was projecting. The quarter also recorded a 7.6% operating margin for Elon Musk’s automaker, continuing the declining trend while also being the company’s lowest since 2020. This was attributed to a series of price reductions in key markets and increased investments in Cybertruck development, artificial intelligence, and factory upgrades.
Information for this briefing was found via Bloomberg and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.


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Consumer Commission reveals tampering with expired food labels
A National Consumer Commission investigation has revealed that 84 major retailers in Mpumalanga and the North West have been tampering with expired food labels.
Chain stores such as Shoprite, OK Foods, Spar and U-save have been found guilty of altering, replacing or removing labels from expired food products such as eggs, milk, cheese, meat, baby formula and biscuits in order to keep them on the shelves. The Commission has also discovered that some labels were handmade with incorrect expiry dates and placed over the original ones.
According to the Times, this has put consumers at risk of diarrhoea and vomiting, and can, in severe cases, even cause death.
"Generally speaking, the vulnerable sectors of the population - young children, the elderly, those with compromised immune systems and pregnant women - are more susceptible to food poisoning,” said food microbiologist food safety expert, Lucia Anelich.
Under the Consumer Protection Act, to alter, falsify or remove a food label is an offence and those found guilty can spend up to 12 months in prison or receive a fine of up to one million rand.
Prudence Moilwa, the Commissions Head of Investigation, has said that the stores found guilty, have signed forms admitting to the offence, and promised to correct the practise of false labelling.
Speaking to the Times, Spar Group Merchandise executive, Mike Prentice said that, “All of the Spar stores are actually owned by the independent retailers and are therefore managed separately and are not owned by Spar the listed company. As a result, they do not have reporting channels on all events that take place at store level.”
The Consumer Commission has expressed its shock at the discovery and plans to extend their investigation to the whole of South Africa.
Photo courtesy of www.savinglifestyle.com
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Venture capital (VC) funds made hay while the sun was shining. They pumped billions of dollars into new-age startups, and drove entrepreneurs to aggressively chase top line growth. And despite the absence of a robust business model, they boldly defended the inexplicable sky-high valuations of many of these firms that hardly showed profit visibility. In fact, it was considered blasphemy to question founders on when the business would break even in light of the hefty losses quarter after quarter.
The astronomical valuations came on the back of irrational and lopsided top line growth that came at the cost of unit economics, based on the underlying assumption of a ‘huge’ growth potential that could be readily unlocked for value and profits once the business reached the desired scale and size.
The market was fairly new-age, largely untapped, and was riding the wave of Internet penetration. This optimism was backed with high consumer spending, and signs of robust economic growth—and this contributed to the perplexing and rocketing valuation of startups.
Critics questioned the rationale behind the valuation of many of these new-age startups, a few of which at certain points exceeded the market cap (m-cap) of decades old blue-chip companies. But, no one was complaining. The startup ecosystem was the cynosure of all eyes. Customers lapped up the freebies, steep discounts, and convenience of the new experience. And, to ensure there was no love lost, startups continued to increase marketing and customer acquisition spends to dole out offers that were bigger and better than industry peers. This, of course, was done by burning investors’ money. But most investors, intriguingly, encouraged founders to keep their eyes on meeting revenue targets to scale the business, even if the business was slipping heavily in the red. Why?
Higher valuations present the opportunity for most VC funds to exit profitably in five-eight years at attractive return multiples on the capital invested. Funds like Tiger Global, for example, continued to bet on the assumption of the underlying growth potential of startups, and with each round of funding, the valuation increased to tens of billions of dollars. For instance, after a little over eight years, it cashed out its investment in Flipkart and made a killing by earning over $3 billion from its $1 billion investment. More and more funds have tried to replicate the model, contributing to the boom in the startup industry. Alas, many have burnt their fingers and have now left the very founders they encouraged in the lurch. Why?
The economy is grappling with multiple challenges, the optimism and robustness have been replaced with liquidity concerns and a weak outlook for demand. The unravelling economic upheaval has not spared startups. And, VC funds have been quick to take the cue for an urgent shift in tact and track.
“Investors want to see a solid business model with fundamental unit economics when they scale. Too many VCs have backed consumer businesses that were reliant on discounting at launch but who then failed to maintain sales when discounting was stopped. VCs have their hands full dealing with issues within their portfolio and [are] not looking as aggressively at new deals until they sort out their current issues,” cautions Singapore-based DSG Consumer Partners in a letter to the chief executives and founders of its portfolio companies.
“Valuations are correcting. We are seeing a 30%-50% reduction in the multiples being applied. CPG [consumer packaged goods] brands, which were once getting priced at 5-8x revenue, are now priced at 3-6x—only specific to brands with strong gross margins, not reliant on high CAC [cost to acquire a customer]. Retailers, including restaurants, are seeing Ebitda multiples of 6-12x, which is 0.5-2x revenues,” says Deepak Shahdadpuri, founder and managing director, DSG Consumer Partners, in a letter dated November 21.
The confidence for a blockbuster, multi-bagger exit has diminished, too. “We are witnessing a rapid decline in risk appetite from VC funds. This is a sharp contrast to the market sentiment six months ago. In the past three weeks, we have seen five different fundraising rounds or M&A (merger and acquisition) discussions collapse post-term sheet and pre-closing. In some cases, this has led to job cuts and deep cost rationalisation, some within the portfolio and some outside. Many startups aren’t even getting a term sheet,” adds Shahdadpuri. “We believe that the winter is already here in the VC market,” he warns.
For now, the bubble of euphoria may have burst and it’s back to business basics, finally. DSG Consumer Partners expects liquidity to be tight in 2020 and has cautioned founders of its portfolio companies—comprising OYO, Chai Point, Raw Pressery, Eazydiner.com., and Veeba, to name a few—to conserve cash and focus on capital-efficient growth. “Build a business to be profitable. Look at your P&L [profit and loss] and ensure that each cost item is justified and required; if not take out those costs today,” it advised startup founders.


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New 2023 QD OLED TV strategy from Samsung to raise industry expectations
5 Jan, 2023 | Ken Park
Samsung began shipping its first OLED TV in March 2022, though not in large quantities initially. Samsung Display’s yield rate hindered the initial supply, and after rumors of failing to adopt WOLED panels surfaced, changing the OLED TV lineup was inevitable. Samsung suddenly adjusted its stock-keeping units (SKUs) of OLED TV models with its distribution channels after experiencing difficulties in its WOLED panel supply negotiations with LG Display. As a result, Samsung did not unveil its first QD OLED TV even at CES 2022, and instead of a global launch, it quietly launched the 55- and 65-inch models mainly in the US and some European countries.
Samsung VD applied Samsung Display’s latest panel technology, which is its first QD OLED panel. Even so, and despite it being Samsung’s newest product after nine years, this model was purposely not put in the top grade of the TV lineup. Instead, to preserve the consistency of its “Neo QLED TV” brand name, which has existed since 2021, Samsung selected its QN95 model to top its 4K lineup as it had a similar screen size.
Samsung moved the S95 model one level down. As it was not a top-tier product, it did not bring out the maximum specs that a QD OLED panel could produce. The S95’s price was determined according to QN95’s top-of-the-line pricing strategy. Samsung did not even put the term “QD” in front of “OLED TV.”
Samsung’s sales of the S95 series, which had started quietly, changed dramatically in the second half of 2022
First, Sony, which had entered the market late, placed its A95K series, equipped with the same Samsung Display QD OLED panel, at the top of its lineup. Despite the higher price, the A95K series received massive media and industry attention and its sales volume increased every month.
In addition, Samsung Display’s panel yield rate soared by more than 80% from July onward, and panel supply outstripped consumption. So, if Samsung VD had not consumed all of the previously promised quantity, Samsung Display would have had a problem with panel stocks piling up.
Most importantly, Samsung’s strategy had entered a completely different phase, unlike in the first half of the year, after it received an internal directive to achieve its volume target. This directive was interpreted as Samsung VD should consider further investing in Samsung Display’s QD OLED panel capacity. As a result, Samsung could apply price discounts—mainly used when the market is in decline and are simple and effective to drive sales—on the latest model within months of its introduction.
Samsung’s October shipments exceeded 70,000 units for the first time, and Sony’s shipments, which had a relatively wide price gap, fell (Figure 1). Sony’s shipment drop and Samsung’s drastic price reduction shocked the entire OLED TV market, affecting LG Electronics’ WOLED sales price strategy as well.
Samsung’s and Sony’s QD OLED TV shipments are expected to reach 440,000 units in 2022. LG Electronics, which does not have QD OLED, is highly likely to show negative growth compared to last year.
Samsung’s action of hastily increasing its shipment volume through its pricing strategy in 2H22 instead of using global launching, branding reinforcement, or marketing promotion strategies is burdensome to its cost structure, Samsung Display’s new investment plans, and Samsung’s future roadmap.
The steep price drop affected the increase in QD OLED TV shipments and expanded the possibility of a price drop throughout the OLED TV market. Further, in terms of Samsung’s premium lineup, the price drop caused relatively low sales in its Mini LED product category.
Samsung highly likely to learn from its OLED TV debut in 2022 and use a completely different OLED TV strategy in 2023
First, instead of a quiet product launch, Samsung will conduct a hard launch in 2023. This is one of the reasons why CES 2023 has been eagerly awaited—through the event, we expect Samsung to formally launch a new QD OLED product and to publicize it extensively.
Second, in expanding the lineup from one series to two, the 77-inch will be introduced in 2023 to reinforce the premium segment. This lineup is possible because the 77- and 49-inch can be produced together using Samsung Display’s multi-model glass (MMG) technology. With the size composition prepared to promote the premium segment lineup, we can expect TV sets to have the maximum picture quality performance that QD OLED panels can inherently produce.
Third, we have also detected changes in Samsung’s product strategy. Previously, the priority for the target quantity was Mini LED TVs, not QD OLED TVs. Samsung’s initial target for QD OLED TVs in 2022 was 600,000 units, but in reality, it did not exceed 400,000 units. This is because the Mini LED TV shipment target was still high, and Samsung prioritized the product strategy and target volume for this lineup. While Samsung’s 2023 QD OLED TV target is set at over 1 million units, the sales target for Mini LED TVs has not been raised.
Lastly, we expect new players TCL, Sharp, and Philips to introduce QD OLED TVs next year, alongside current players Samsung and Sony. As competition increases, Samsung’s product strength and promotional strategies will be most effective in attracting market attention and will provide an advantage.
Samsung’s product performance, number of lineups, and promotional strategy will be important criteria to determine the QD OLED TV market size in 2023. Therefore, CES 2023 will undoubtedly be a major stage to analyze Samsung’s strategy and identify QD OLED TV product capabilities and market potential in the coming year.
According to Omdia’s latest forecast, the QD OLED TV market is expected to grow 141% year-over-year (YoY) in 2023, as seen in Figure 2.
Ken Park, Senior Research Manager
As part of Omdia's Components and Devices team, Ken Park heads the Professional AV Devices research team, specializing in global TV set market research with display technology expertise and various industry experiences. Read bio
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Lycos, Inc. (NASDAQ: LCOS), which saw the number of shoppers on its network increase 450 percent during the 1999 holiday season, has announced that is taking a 14 percent stake in Internet Commerce Services Corp. (iCOMS) and is forming a strategic partnership to build both companies’ e-commerce businesses.
iCOMS provides electronic commerce applications for companies that are looking to do business online, and already supplies services to more than a hundred firms. The company sets up online commerce systems that allow retail and business-to-business merchants to “pay as they sell,” rather than invest up front in technology and staffing.
iComs has supplied software for or works directly with nearly one thousand companies and organizations, including Hasbro, Stanford University, Doubleclick, Entertainment Boulevard, Biz2Net, First Union Corp. and major league baseball teams.
Through its new partnership with Lycos, those companies will have the opportunity to register as LYCOShop merchants and gain access to nearly 30 million Lycos shoppers. iCOMS is no stranger to Lycos, having provided operational support, merchant support and development services for the company as a leading support provider for Open Market’s Transact and ShopSite software packages, which Lycos employs on its site.
Potential to Expand
iCOMS says it will use the Lycos investment to fund general operations, expand its infrastructure and pursue potential acquisitions. In addition, Lycos Senior Vice President of Corporate Development Jeff Bennett will join the iCOMS board of directors. iCOMS executives say they are looking to Bennett and big brother Lycos for much-needed experience in the Internet business, as well as relationships with other established Net companies.
Lycos, meanwhile, will enjoy the ability to benefit financially from a company that is competing in the up-and-coming Internet technical services business, while being able to outsource Lycos technical needs to a partner instead of a third party.
“We are very impressed with their capabilities and the overall strength of the company and management. We believe that they have tremendous potential for rapid growth as the need for e-commerce technical services grows,” Lycos CEO Bob Davis said.
Lycos joins Technology Link Capital, AsiaTech Ventures, Primus Capital, Corning Capital, Venture Investment Management Company and FINECO as strategic investors in iCOMS.
The other six companies combined to contribute $10 million (US$) in May to keep iCOMS growing after its 1997 launch with a $2.3 million boost from other private investors. Lycos is the only investor in this third round of funding.
Building on Success
Lycos will also look to iCOMS and other relationships to maintain the momentum it built during the holidays. Like many other online merchants benefiting from the Internet’s continually improving familiarity to consumers, Lycos doubled its shopping traffic the day after Thanksgiving.
The company is taking that improvement, and the 450 percent overall growth during that season, as a sign it is doing something right, Vice President of E-Commerce Kim Boucher said. She attributed the company’s strong shopping season at least partly to its decision to integrate the LYCOShop service into the many different content, community and search sites Lycos operates.


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Even since the release of Marvel Snap, Nuverse are actively working with the community. They regularly post exciting news and announce their plans for the future on the Discord server and other official media. Recently, they have confirmed plans about the Collect Tokens update.
Read this guide, and you will learn everything you should know about the Collector Tokens rollout in Marvel Snap. There is no time to lose. Let’s get started!
The foremost thing in the newest update is the new currency – Collector Tokens. They will be got by playing the game and used to purchase unique cards that can not be obtained by leveling up. After releasing this news, people started to ask if they would be rewarded with Collector Tokens for their progress.
Unfortunately, there is no certain answer to this question. Second Dinner has said no, but Ben Brode on Twitter announced they gave a new plan. So, he will reveal specific details about it soon.
Friend Mode is one of the most awaited features in Marvel Snap. And in a recent talk with community developers confirmed that it will be added by the end of 2022. Moreover, friendly battles will have unique rules that will be adapted especially for them.
Of course, one of the foremost things that will be added in the Collector Tokens update is new cards. Nuverse plan to release pools 4 and 5 in this update, but they want to do it gradually. So, they will release a few cards per week.
When the update comes?
Even though there is no specific date for the update, developers said they want to release 1 significant update per month. The game was released on October 18. So, the newest update should be released by the end of the month. But Collector Tokens might be delayed due to various aspects. Therefore, follow our website to find out the latest news about Marvel Snap.
Meta Description: The newest Collector Tokens update includes friend mode, new cards, and the new currency. And the update is planned to be released by the end of the month.


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Tudor’s Black Bay Ceramic One sold for a ridiculous amount at Only Watch 2019James Robinson
If history is anything to go by, we shouldn’t have been surprised at news coming out of Only Watch 2019 that Tudor’s entry into the charitable auction, the Black Bay Ceramic One, had sold for a staggering 350,000 CHF ($515,000 AUD).
In fact, for Tudor’s third pièce unique entered into Only Watch to do anything other than command a crazily large bid would’ve been an abnormality.
Why, you may ask? Well, the Swiss marque’s first “Only Watch”, the Tudor Black Bay One, was submitted for auction at the 2015 event, and while the estimate for the stainless steel diver was a mere few thousand Swiss francs, it ended up selling for a monolithic 375,000 CHF!
Two years later, Tudor was back at Only Watch 2017 with the Black Bay Bronze One, and, just like its inimitable steel counterpart, it too sold for a whopping chunk of change – 350,000 CHF, to be precise.
However, while the previous two Tudor Only Watches represented only slight deviations from the standard models they were based off, the Black Bay Ceramic One represents wholesale change for the Black Bay, and it’s all to do with the 41mm case.
This is the first Black Bay we’ve seen hewn from a solid ceramic case, and it’s an absolute stunner thanks to its brooding matte black colour palette and a combined finishing that involves both bead-blasted and brushed elements.
The unique timepiece is complemented by a stainless steel crown that has been given a matte black PVD coating, and a titanium bezel, complete with matte ceramic insert, which has also been PVD-treated.
The Tudor Black Bay Ceramic One also features a sapphire crystal case back, another first for the Black Bay range, which shows off the Swiss watchmaker’s in-house Calibre MT5602 movement, which is chronometer certified, offers no less than 70 hours of power reserve and features a matte black PVD-treated oscillating weight to match the rest of the timepiece’s stealthy aesthetic.
Yet another first for the Black Bay range, the Ceramic One is paired with a hybridised band that incorporates both black alligator leather and rubber strap, complete with matte black PVD-treated folding clasp and safety catch, which is satin-finished.
So, when you take all these one-off features into account, it’s little wonder that the Tudor Black Bay Ceramic One sold for roughly 80 times more than its estimate.


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The Lokhen team would like to thank you for your participation and attention at the Nufam exhibition event, which took place from 30 September to 3 October 2021 in Karlsruhe.
The fair was a moment of great success, shared with partners, customers and potential new customers, thanks to the new launch at Lokhen:
ORIGAMY ,THE ONLY FOLDABLE WHEEL CHOCK IN THE WORLD, ACCORDING TO STANDARD DIN 76051.
We at Lokhen will continue to pursue this mission: always be BORN TO INNOVATE; constantly develop new technologies to improve and innovate our products and to win the loyalty of all those who trust us every day.
Just THANK YOU.


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The possibility that new transmissions products will be built at General Motor Corp.'s Toledo Powertrain isn't stopping Ray Wood from trying to bring additional work to the factory on Alexis Road.
Under the new national labor contract ratified last month by the United Auto Workers, the plant could land work to make transmissions for hybrid-electric rear-wheel-drive vehicles as well as transmissions for Chevrolet Corvettes.
The contract calls for the Toledo plant, which employs 1,800 hourly workers, to be considered for planned transmission products of the rear-wheel-drive "Gen II Hybrid" in 2011 or 2012. It is in the running for production of the rear-wheel-drive, dual-clutch transmission for the Corvette in 2012.
If the new products are made here, it is unclear whether additional workers would be hired, said Mr. Woods, president of UAW Local 14 at the plant.
"Our goal is protect our current employees and try to get ourselves positioned for new workers," he said.
The local factory has consistently placed in the top of the Harbour Report annual rankings for productivity among U.S. transmission facilities from any automaker.
Wanda Montion, a GM spokesman, said the company doesn't discuss allocation of products to plants.
David Cole, chairman of the Center for Automotive Research in Ann Arbor, said the technology being implemented by GM for hybrid-gasoline vehicles could create many jobs for the automotive industry.
"The bottom line is that a lot of stuff is going on in the transmission area," he said. "I think you will find that GM is up to their noses in every technology you can think about."
Mr. Wood said the union will work to secure additional transmission production as product plans become available.
"If there are opportunities to get more work, then we are going to make a pitch to GM officials," he said.
GM is investing more than $832 million in the plant to make more fuel-efficient six-speed transmissions. The company is adding 400,000 square feet to the 1.8-million-square-foot factory to house new equipment to build a six-speed, transmission for rear-wheel-drive vehicles beginning in late 2008.
A front-wheel-drive version of the better performing transmission will begin in early 2010. The four-speed rear-wheel transmissions made at the plant are to be phased out in 2011.
At the height of production, the plant was making about 8,300 units a day. It now turns out about 3,700 a day, Mr. Wood said.
The first generation of GM's transmissions for rear-wheel-drive hybrid vehicles will be launched next month for full-sized sport-utility vehicles.
The automaker's two-mode, gas-electric system allows the vehicles to be powered by electricity alone at low speeds, with electricity kicking in to assist the gasoline engine at high speeds.
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Portland, Ore. (October 23, 2017) – Pear Bureau Northwest is excited to present the award for 2017 Pear Retailer of the Year to Sprouts Farmers Markets Produce Warehouse. The award, which was presented on the show floor of the 2017 PMA Fresh Summit in New Orleans on October 21st, is based upon an exemplary record of pear category improvements in merchandising performance and sales increase. 2017 marks the second consecutive year Sprouts has received the honor of Pear Retailer of the Year. “Sprouts has again done an outstanding job of building their pear category,” stated Kevin Moffitt, Pear Bureau Northwest CEO. “On behalf of nearly 900 pear growing families in the Pacific Northwest, we congratulate the Sprouts team and truly appreciate their support and focus on pears.”
Each year, Pear Bureau Northwest partners with grocery retailers across North America to increase overall success in the pear category. Continuing on their path of the previous year, Sprouts has pursued many of the best practices for increased pear category sales recommended by USA Pears, including displaying two green pear varieties at once. They also give shoppers choices by promoting multiple pear varieties, carrying two sizes of top selling varieties, increasing impulse purchases through in-store sampling, allocating plenty of the valuable front of store space to pear displays, and training personnel to improve category knowledge. “The implementation of these best practices no doubt brought new consumers to the category while fully satisfying and pleasing their current pear customers leading to increased sales,” said Moffitt.
“Sprouts carries an incredible amount of variety for their customers. They carry Anjou, Bartlett, Bosc, Comice, Concorde, Starkrimson, Forelle, Seckel and other pear varieties as they become available,” explained Dave Howald, Western Regional Manager for Pear Bureau Northwest. “When they do a promotion like ‘Pear-Fection’, they create custom signage and build beautiful large displays to create excitement and generate sales.”
Sprouts Director Chad Miller cited pear selection has been a key factor to success and aligns with the company’s dedication to earning customer trust. “Customers trust Sprouts for our selection of fresh produce, including pears, and that trust has grown year over year as we expand our footprint and reach even more shoppers,” he said, adding that two additional factors are “merchandising that supports the entire product mix and team members that are equipped to answer questions helps shoppers when purchasing pears.”
Produce managers at Sprouts consistently seek opportunities for their staff to learn from experts, and providing training pays off with happy, engaged customers and increased pear sales. Miller pointed out, “We are known for our knowledgeable team members and provide them continued education on our selection of pears, which translates to enhanced customer engagement with the product.”
Miller is honored to accept this award on behalf of the company. “Sprouts is very excited to be recognized and to know that the effort of our team members continue to make our stores a trusted destination for pears,” he said.
This year, Pear Bureau Northwest also recognizes Bristol Farms, Dave’s Markets, Defense Commissary Agency, Giant Eagle, H-E-B, Heinen’s Grocery Store, Jewel-Osco and Tops Friendly Markets for their outstanding performances in boosting pear sales and consumption.
The Pear Retailer of the Year Award was established by Pear Bureau Northwest in 2011. Past honorees were Demoula’s Market Basket (2011), Meijer (2012), Ingles (2013), Publix Markets (2014), Wegmans (2015) and Sprouts Farmers Markets Produce Warehouse (2016). The Pear Bureau’s team of regional marketing managers selects the annual recipient based on Northwest pear’s category performance, creativity and best practices in pear merchandising, and overall excellence in supporting the pear category.


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Last September, Microsoft officials admitted they were putting the mobile versions of the Microsoft Office applications for Windows on the back burner. Late last week, Microsoft announced the end of support date for those Office Mobile applications: January 12, 2021. After that date, Microsoft won't provide any more security fixes, bug fixes or technical support for those applications.
Microsoft is telling users who already have the apps installed on their Windows Phones before the end of support date will still be able to use the apps. But the apps won't get any security updates, fixes or technical support after January 2021.
Microsoft describes these Office Mobile apps -- specifically Word, Excel, PowerPoint and OneNote -- as "the Office apps for phones using Windows 10 Mobile." Windows 10 Mobile's final end-of-support date is tomorrow, December 10, 2019.
As Microsoft officials said a year ago, company officials decided to prioritize development for the iOS and Android versions of its Office apps and, on Windows, for Win32 and web versions of these apps. As a result, they said they planned to deprioritize the Universal Windows Platform (UWP), touch-first mobile variants.
However, these Office Mobile apps also can work on other Windows devices that are not Windows Phones. Some people use them on Windows tablets, Surface Hub, HoloLens and even the Surface Go because they can be downloaded and used for free. Office Mobile apps are free on devices with screen sizes of 10.1 inches or smaller. I am fairly sure that Microsoft is going to cease supporting these Office Mobile apps for Windows everywhere as of next year. (I asked the company for clarification, but no answer so far.)
Update (December 11): It turns out Microsoft is only going to drop support for these apps for Windows Phones, but will continue to support them on Windows 10 tablets, Surface Hub and HoloLens. I asked whether the word "support" means that Microsoft will continue to provide regular security updates for the Office Mobile apps on these other platforms. I have not gotten a definitive response to that question, but believe the answer is yes, given the boiler plate statement Microsoft is sending to the press:
"This (end-of-support announcement) only applies to the apps on Windows 10 Mobile. We will continue to support them for use on Windows tablets under 10.1. However, the best experience for people who want to use Office on a PC is through the desktop apps with an Office 365 subscription, or the web apps which are available for free to consumers at office.com."
At its Ignite conference last month, Microsoft reversed course with its Win32 version of OneNote. Instead of deprioritizing that OneNote 2016 desktop version, as had been planned previously, Microsoft officials said they'd continue to provide new feature updates for it.


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The much-awaited Microsoft’s Surface Duo phone is available now. It is a dual-screen Android phone launched from the maker of Windows. The phone now available for ordering and will be shipped to consumers immediately. The Microsoft Duo is the first smartphone that the company has released since the end of its support for the Windows Phone platform offered five years back.
The Duo phone is priced at a lofty sum of $1,399. The phone has two 5.6-inch OLED screens, each with a satisfactory resolution of 1,800 by 1,350 pixels. The screens are neatly separated by a 360-degree hinge, which lets the user open the phone like a book or fold it again. The device is enormous—145.2mm×186.9mm×4.8mm. A phone of that size wouldn’t fit into many pockets! Microsoft, however, doesn’t call it a phone. It is a kind of tablet that has phone-like features and runs on a smartphone build of Android core with voice calls on the same cellular networks like AT&T.
Microsoft Surface Duo
Microsoft company earlier announced the Surface Duo phone and the Surface Neo, which is again a dual-screen hybrid of a tablet and a phone. However, the Neo is built for a Windows version that is designed specifically for the dual-screen devices rather than the Android powerhouse. In terms of specifications, the Surface Duo has 6GB of RAM and a Snapdragon 855 core processor.
The phone is available in both 128GB and 256GB variants and also has a 3577mAh battery. However, it has only one camera of 11 megapixels, but this camera can either a front or a rear camera depending on what the user does with the hinge. The user authentication on the phone is done through a fingerprint reader, and the device supports input from a Surface pen. The Surface Duo has only one USB-C port.
There is also a single speaker, which means the user wouldn’t get stereo sound here. However, it would be quite challenging to get stereo audio on this phone with two speakers, given how the user supports or holds the device. The Surface Duo runs on Android 10. As Android 11 was launched a week recently back, the Duo comes with the Android’s prior version.
Dual-screen phones like the Microsoft Surface Duo have become a reality due to smartphone companies like Samsung‘s recent attempts to create foldable screens that didn’t work out quite well. However, their dream of building a smartphone-sized device to use a giant, tablet-sized viewport exists. Interested buyers of the Surface Duo can order the phone from Microsoft’s website.


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Now here is a piece of news that is a bummer, pun intended. Turns out, the so-called flushable bathroom wipes that we use and flush down the toilet without a worry aren’t really flushable after all. In fact, these wipes are the biggest culprits in the US, when it comes to clogging of sewers. What is expected of these flushable wipes is that they would break down and dissolve once flushed down the toilet, but that isn’t happening, which in turn is leading to a lot of trouble for municipalities around the US.
Reportedly, millions of dollars is going the drain because of this issue. Workers and equipment have to be especially appointed just for unclogging of the sewers and blocked pipelines. This problem actually came to the fore, when in London the municipality faced a similar issue. As a matter of fact, a gargantuan 15-ton lump mainly comprising of these wipes was found in the sewers there. If you can’t picture in your head how huge such a lump would look, just imagine a lump as big as a school bus or slightly bigger.
It seems this flushable wipe issue has grown in proportion in the last 4 years, which coincides with the growing popularity of the so-called flushable cleaning cloths. The flushable wipe industry since 2007 has grown in leaps and bounds and is presently a $6 billion industry, which should give you an idea of how popular a product it is. While these bathroom wipe companies are laughing all the way to the bank, the municipalities are having sleepless nights because of how serious this is becoming. In fact, officials have even begun keeping track of which households use the most number of these wipes, by monitoring how clogged their sewage pipelines are.
After the matter is investigated, authorities send letters to the households using these wipes in a large quantity, appealing them to cut down on using this product. The companies that manufacture these wipes have washed their hands off the blame completely. Instead they blame the households for the whole issue, saying it is because of non-flushable wipes and baby wipes being flushed down the toilet that all the clogging is taking place. A rep for one of the companies was even quoted as saying “My team regularly goes sewer diving. We’ve seen the majority, 90 percent in fact, are items that are not supposed to be flushed, like paper towels, feminine products or baby wipes.” It seems like this is one issue that won’t dissolve so easily.


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There was a great bit the other night on The Daily Show With Jon Stewart about why Brad Pitt has suddenly become this great activist for humanitarian issues and green
Rod Stweart quipped today that he wants to follow in the footsteps of Elvis Presley’s death — no, not by dying on the toilet — but by bring buried in
Fashion mags have been on a green kick recently and it continues with this month’s 10 page spread on ethical clothing in Vogue. Not to be outdone, London Fashion Week
The trend of offsetting energy use with credits that go towards the development of renewable energy sources is heating up. One company, NativeEnergy, is taking that challenge to movie studios
Brad Pitt is featured on the cover of the latest Esquire magazine and before their interview was given a homework assignment to come up with ’15 Things Everyone Should Know’.
Summer Oakes is not your average model. Her direction in the fashion world has set her apart from her constituients. Why? Oakes only models clothing made from organic or recycled
Famous chef Jamie Oliver — also known as The Naked Chef — wants to make his new restaurant in Cornwall more friendly by installing wind turbines. From the article, “He


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The patch Bethesda's hit RPG that PS3 players have been waiting for — y'know, the one that should get the game working the way it's supposed to — will be coming later today, according a tweet by VP of PR and Marketing Pete Hines. You'll also get those upgraded kill cams and a slew of other features in the 1.5 update, which is reportedly already live for the Xbox 360.
Skyrim 1.5 Patch Live For Xbox 360, Due Later Today For PS3
Trending Stories Right Now
Electronic Arts has canceled its open-world Star Wars game, according to three people familiar with goings-on at the company. The game, announced alongside the shutdown of Visceral Games back in 2017, had been in development at EA’s large office in Vancouver.
Assassin's Creed Odyssey Director Says 'We Missed The Mark' With Controversial DLC Relationship [Update]
A day after apologizing for surprising Assassin’s Creed Odyssey players with a mandatory in-game relationship that seemed to contradict the game’s pre-release promise to let players define their character’s own sexuality, the game’s creative director offered a fuller apology and explanation of what his team was trying to accomplish and what they got wrong.