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Kernel has reduced the acceptance of agricultural products at silos
The volume of grain accepted at Kernel’s silos in the 1st quarter of fiscal year 2022 (FY) amounted to 1 million tons of grains and oilseeds. That’s 19% less than the same period in FY2021.
The volume of grain and oilseed crops has decreased due to untimely harvesting of corn and sunflower, Latifundist reports with reference to the company’s report.
According to the report, the volume of grain exports from Ukraine in July-September 2021 increased by 5% – to 2.2 million tons. Of these, 86% were produced by external suppliers, and the rest by the agricultural division of the company.
The volume of transshipment at export terminals in Ukraine in the first quarter of 2022 FY increased to 2.2 million tons, which is 18% more compared to the same period last year.
“Yields in the company’s agricultural segment are expected to rise for all three major crops: corn, sunflower and wheat,” the report said.


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Newmark Capital is paying $121 million for the prominent David Jones menswear store in Melbourne’s Bourke Street Mall.
The deal, mooted in early April, follows a public sales campaign launched last December.
However a few months earlier, a pre-marketing announcement about the listing was leaked.
In both cases, the historic seven level, 11,814 sqm building at 299 Bourke Street carried c$150m price hopes.
CBRE Simon’s Rooney and Lewis Tong with recently departed colleague Mark Wizel represented the South Africa backed David Jones which plans to use sale proceeds to renovate its flagship store across the road at #310.
UBS has now been appointed to review the retailer’s other Australian assets which includes a Sydney CBD outlet in Elizabeth Street.
David Jones’ outgoing menswear store on Bourke Street Mall
At Melbourne’s most valuable retail point, the David Jones menswear store occupies a 2232 sqm site almost adjacent to the former GPO.
Its western boundary also abuts Union Lane while it has rear access to Little Collins Street.
The vendor offered it with a short-term leaseback – a factor which could have made the asset more attractive to the speculated purchaser, which has a track record of adding value and repositioning prime located sites.
Headed by ex-AFL sportsman Chris Langford, Newmark’s portfolio includes in South Yarra the Como office and Jam Factory – the latter which is earmarked for a $450m redevelopment which will include four major towers.
In 2018 it sold the former Jam Factory car park at 11-13 Wilson Street – the buyer, Bill McNee, which paid $12.6m, is now building a 10-level office.
Last year Newmark paid Stockland $64m for Tooronga Village Shopping Centre in Glen Iris.
Its Bourke Street Mall investment is in a development hotspot near what will be National Australia Bank’s next headquarters, which Canada’s Brookfield Properties is constructing at #405.
Next to that (#435), ISPT has earmarked a 55-level, 64,500 sqm commercial complex, penned by Bates Smart and scheduled for completion in 2023.
In March, JP Morgan Asset Management began listed a similarly priced landmark retail investment to 299 Bourke Street: the former Australia on Collins Street, now known as St Collins Lane – also via CBRE.
Postscript: this story was edited on July 28, 2020, to update Newmark’s purchase price from c$120m to $121m.

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Entertain Impact founder and CEO Paul M. Katz presented at Connections NYC, presented by LeBook on Thursday, June 18, 2015.
Le Book is a global network and resource that holds events to highlight companies and members of the creative community. The company itself operates from three countries and produces five sets of books annually to be internationally distributed.
Featured image via LeBook
Originally posted Nov. 30, 2015


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After the recent drone attack in Saudi oil prices are spiking in anticipation of a potential reduction in global oil supply.
David Blevings, spokesperson for the Irish Petrol Retailers Association said, “The recent attack on the Saudi oil infrastructure is pushing prices higher. However, the Saudi Government has announced that it will make up any shortfall from their significant oil reserves as has the US Government who say they will release emergency stock if required. We believe there will be a short term impact on wholesale fuel prices which will feed into an increase in retail prices.
It is hard to predict what will happen retail prices in the medium to longer term but remain confident that retailers will increase and decrease their price in tune with the wholesale market to continue to compete and retain their customer base”, added David.


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According to the plan, South Korea will foster at least 220 metaverse companies with sales of more than 5 billion won ($4.2 million) this year and establish a "
Metaverse and Web 3.0: All the hype around explained!
After Nike, Adidas and H&M, retail giant Walmart joins Metaverse bandwagon
Satya Nadella reveals Microsoft's plans for Metaverse
The metaverse is a shared virtual space where users interact via digital avatars while immersed in the virtual reality (VR) world. Such platforms have grown in popularity in recent years as people's activities have shifted online due to the pandemic.
South Korea also intends to launch an online Korean language institute for foreigners on metaverse platforms and several projects to apply metaverse technology in tourism, medicine, and the arts, including K-pop. To help global metaverse startups enter the South Korean market and connect them with local content companies, it will launch a "K-Metaverse Academy" to help them connect with local content companies.
South Korea is currently ranked 12th in the world in terms of market share in the metaverse industry.


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Financial Struggles in the Performing Arts – The New York City Opera collapsed at the end of September. Michael Bloomberg said “The business model doesn’t seem to be working.” That is becoming painfully true with many performing arts groups, although some keep going, largely because their supporters are willing to forgo sound business practices and donate their money for the sake of art—the essence of patronage. One cannot say the opera and concert audiences are going away – the NYC Opera was packed for its final production of Anna Nicole. The board chairman of the Minnesota Orchestra said that somehow they had run up a deficit even though they had locked out the musicians and give no concerts for over a year. One expert observed that organizations that place money before music have lost their way. According to the New Yorker, anyone feeling compelled to use the phrase “business model” might want to steer clear of the performing arts.
IPv6 – Latest Revision of the Internet Protocol – The IP, providing an ID and location system for computers on networks and which routes all traffic across the Internet, has a new revision from the Internet Engineering Task Force dealing with the continuing problem of address exhaustion with the old IPv4 standard. The vast majority of Internet traffic still uses IPv4. With the ever-increasing number of new devices being connected to the Internet, the need arose for more addresses than IPv4 can accommodate. IPv6 uses 128-bit addresses instead of the 32-bit addresses used by IPv4, and has a hugely greater capacity, but unfortunately the two protocols are not interoperarable, which complicates the transition to IPv6.
Wireless Speaker and Audio Association Grows – The WiSA Association is an industry group dedicated to bringing reliable, high-performance wireless surround sound audio products to the home theater market. They have more than doubled their membership in 2013, increasing from ten companies in 2012 to 25 in 2013. The VP of Anaview said “Delivering high performance Class D amplifiers with efficient power supplies for the wireless speaker industry is a high priority for us and our customers,” and a spokesperson for Tymphany said “Delivering high-definition wireless audio solutions is a strategic priority for us.” Their goal is to provide users with interference-free, wireless HD digital audio products that are easy to set up and interoperate with other compliant CE devices such as HDTVs, home audio systems, set-top boxes and more.
Record Amount of Innovation at 2014 International CES – The CES, which ends today in Las Vegas, has over 3200 exhibitors across the largest show floor in history – over two million net square feet. Innovation and the promise and power of technology drove the show this year. The show is considered the largest showcase of innovation on the planet. 25 exhibitors revealed new products during Press Day on Monday. Among the new products were smart earbuds that pair up with an app on a smartphone to monitor pace, location and heart rate using sensors built into the earbuds, and “Jarvis” – a hands-free headset which interacts with a smartphone. There were also many displays of the new UHD (not 4K, although many are called that) TVs and hi-res audio. Audi introduced its Sport Quattro hybrid concept car, which gets 90 miles on a single gallon of gas and has laser headlights three times strong than LEDs. (Oh-oh…)


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Shinsung E&G Chairman Lee Wan-keun (Shinsung E&G)
One year after Shinsung E&G launched a solar power business, the 2008 global financial crisis came, forcing the government to shut down subsidy programs for the industry. In 2010, a tsunami of cheap Chinese products flooded the market, leaving the Korean companies to shelve their solar power business.
Despite the aggravating market conditions, Shinsung E&G Chairman Lee Wan-keun stood firm, increasing investments to develop solar cell and module technologies and expanding production capacity.
The reason the chairman could hold his ground was simple -- it wasn’t his first rodeo.
“After starting business in 1977, Shinsung E&G had gone through major risks before it turned profits in new fields such as semiconductor cleanroom business and assembly automation equipment business,” said the 79-year-old chairman.
“Shinsung E&G solar power business was just getting started.”
Man of opportunity
In 1977, Shinsung started as a refrigeration and air conditioning company. Several years later, the opportunity of a lifetime came knocking.
In the 1980s, Samsung Electronics jumped into the chips business. To manufacture semiconductors, it needed cleanrooms with air conditioning systems that could filter pollutants and supply clean air from outside.
At this moment, Samsung placed an order with Shinsung to supply equipment for cleanrooms as part of localization efforts. But there was a major hiccup -- Shinsung was given only one year to develop the equipment.
Shinsung first tried to affiliate with foreign companies and share their technology, but couldn’t find any partners. Several months passed without a clear answer, but one day, Chairman Lee woke up with an unorthodox idea: the Trojan horse.
When employees of Samsung Electronics went to Japan to buy equipment, Lee sent his people with them. After visiting factories in Japan, Shinsung employees could gather information in the field and fill information gaps.
With the hard-earned information from Japan, Shinsung managed to develop and supply the equipment to Samsung before the deadline.
Supplying cleanroom equipment for Samsung Electronics’ chip business and LG Electronics’ display business, Shinsung grew in size.
After 30 years of plain sailing, Chairman Lee made a surprise announcement in 2007 to launch a solar power business.
“Shinsung needed a new challenge after years of doing semiconductor and display businesses. When looking for a new challenge, I learned about a solar power business. After getting consulting with industry officials and reading reports about the industry every night, I could make up my mind and announced the launch of solar power business,” the chairman said.
“However, when we actually started the business, it was more difficult than expected, so we went through a lot.”
Shinsung E&G inspects the company’s solar module. (Shinsung E&G)
One year after the launch, Shinsung’s solar power business took a hit from the 2008 global financial crisis, which clipped the growth of the global solar power industry. Then in 2010, the situation further deteriorated as Chinese companies started to enter the market and introduced cheap products based on state subsidies, causing oversupply issues.
“At the time, we could easily make profits as long as we could secure raw materials. We couldn’t possibly predict that the market would suffer oversupply issues and price competition would intensify,” the chairman said.
Starting from 2011, Shinsung hemorrhaged tens of millions of dollars in the solar power business and had to make up the losses in the cleanroom business.
Still, Shinsung decided to hold on to the solar power business, and its long wait is finally paying off thanks to President Moon Jae-in’s aggressive push for renewable energy.
In a decade, a turnaround finally came to Shinsung’s money-losing renewable energy business.
After taking office in 2017, President Moon pledged to roll out 27.9 gigawatts of solar and wind power by 2025.
In July, Moon doubled down on his commitment when he announced his Green New Deal initiative -- a massive job creation program via the promotion of renewable energy -- recalibrating the target to 42.7 gigawatts.
To reach the ambitious target, the government has been offering generous subsidies for those who generate electricity with solar or wind power. The subsidies naturally led to higher demand for solar modules, including those manufactured by Shinsung.
Shinsung E&G’s rooftop solar farm (Shinsung E&G)
To meet growing demand in the solar power market amid the Green New Deal, the company in June decided to construct a new solar module plant in Gimje, North Jeolla Province, with an annual capacity of 600 megawatts to produce 450-kilowatt solar modules.
In July, Shinsung signed a contract with construction company Hanyang to supply solar modules for the country’s biggest floating solar farm with a capacity of 73 megawatts.
For a 96-megawatt solar farm underway in Shinan, South Jeolla Province, Shinsung has provided solar modules since July and will continue to do so until next month.
In August, Shinsung signed a contract with Hyosung Heavy Industries to supply solar modules totaling 24 megawatts for a solar farm project in Shinan.
“Thanks to winning big contracts, Shinsung expects its performance to improve in the second half of this year,” a company official said.
In the fourth quarter last year, Shinsung’s renewable energy business recorded revenue of 44.5 billion won ($38 million), but suffered an operating loss of 467 million won.
In the first quarter this year, revenue fell to 38.6 billion won but operating profit improved to 419 million won. In the second quarter, revenue declined to 26.2 billion won, but operating profit spiked to 3 billion won.
Despite improving operating profits, Shinsung still faces stiff competition in Chinese solar power companies.
“The Chinese government doesn’t impose taxes when establishing solar power companies or investing in them. It even offers public funds for research. For domestic companies to gain confidence in the competition and to raise its production capacity, government support is pivotal,” the chairman said.
Last year, Chinese companies dominated the value chain of the global solar power industry, commanding 64 percent, 92 percent, 85 percent and 80 percent in the polysilicon, wafer, cell and module markets, respectively.
However, the chairman said that there is still a chance for Korean companies to stay competitive.
“Since 2018, demand started to rise for products with high quality and efficiency. Korean companies are ready to manufacture high-end products,” he said.
“Polysilicon is the raw material that makes up solar power products. When this raw material is processed to make solar cells, the technology correlates with semiconductor technology. This is why Korean companies with know-how in the semiconductors business have a competitive edge in their solar power products.”
By Kim Byung-wook (firstname.lastname@example.org)


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Lead artist Minoru Sashida and art director Takaharu Suzuki of Bandai Namco Studios excavated, organized, and archived a decade’s worth of Namco video game key visuals from the early days of video games.
Saving The Art
In the Famitsu interview, Sashida and Suzuki explained some of the challenges involved in saving the 1980s-era art. (Note: All quotes are translated from the original Japanese article.)
With the power of hindsight, the average modern video game fan might think it would be easy to recognize the value of this classic video game art. However, Sashida said that at the time, people thought that the stuff was ‘not so important.’
‘The key visuals of the early days of video games were positioned as ‘intermediate products created in the production of games,’ he said.
In addition, Suzuki said that people didn’t always know where stuff was. One reason for this is that Namco’s offices moved around several times in the past. As anyone who has ever moved knows, that presented opportunities for items to get thrown out, lost, or forgotten.
‘Due to the overlap of moving, warehouses were created in various places, and I couldn’t understand where and what was stored at all,’ Sashida said. Valuable objects also had to be protected when the company moved.
Once the old art was found, protected, and saved, they still faced challenges. For example, Sashida said that they wanted to convey the value of the art to different types of people.
‘In order to convey value to people with different values, it is sometimes necessary to define the value to some extent,’ Sashida said. He said that adding stories, painting techniques, and the context of the video game helped people understand the worth.
It’s a long interview, but it shows how these people managed to preserve such items as an original Dig Dug poster or Pac-Man ghost monster models. They have also made YouTube videos featuring the video game art! Also, according to Sashida, Bandai Namco plans virtual reality museums and products based on the original drawings. Suzuki said that he also hopes to have an exhibition of drawings in the future.


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Over the past few years there has been ever decreasing numbers of visitors entering visitor centres across the province. The Visitor Centre in Harrison Hot Springs is no exception. This trend has gone hand in hand with an increase in visitors using their mobile device to gain the information they need.
According to Robert Reyerse, executive director of Tourism Harrison “this trend has gone on for a number of years with fewer visitors in our visitor centre but with our website traffic growing at double digit rates.”
To counter this trend Tourism Harrison has placed a mobile visitor centre in the Harrison Plaza over the past three years. However, while this does have an impact to ensure visitors get the information they need it is only a partial answer.
“Our Visitor Centre, mobile visitor Centre and website offer a lot of good options for visitors but many visitors want more information and want it accessible 24/7” says Reyerse.
Based on the experience of Tourism Harrison, websites offer useful information, but even when optimized for mobile devices they have limits.
Looking at the experience of other destinations around the world the idea of a Harrison Hot Springs App was born. A dedicated App has the advantage of being specifically designed for mobile devices and allows a far better and more integrated experience for the visitors.
Reyerse, seeing a good fit with Destinations BC’s Innovation Grant program wrote a proposal in 2016 to implement an App for Harrison Hot Springs.
“In early January, we were notified that we had been successful in our grant application to fund the creation of the App and we began working with Canada’s Best Apps to develop the Harrison Hot Springs Visitor App.”
Since that time, the app has been developed and is currently in a “soft launch” phase where Tourism Harrison is testing the functionality of the App and the accuracy of all the content.
“We plan to finalize the app in the next couple of weeks and do a hard launch on June 15 just in time for the summer.”
The new App will cover all tourist attractions and features of the Harrison Hot Springs region, including several key attractions in the District of Kent such as Kilby’s, Circle Farm Tours and the Agassiz Harrison Museum among others.
The new app will contain a range of information from opening times, GPS based location finding, up to five pictures per listing and extensive information on products and services.
For the initial year, all businesses will be given a free listing on the App, however starting in 2018 the Chamber of Commerce will subsidize listing for Chamber members and non-Chamber members will have to pay to be on the App.
“The App software has annual fees and maintenance costs and accordingly Tourism Harrison will need to charge businesses to cover these costs but we believe this will be a great new way for businesses to communicate and market their products and services to our visitors,” said Reyerse.


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One of the most exciting rumors currently is the said release of a Nexus Tablet. This device is said to be manufactured by ASUS and have a 7-inch display and a Tegra 3 quad-core processor. All for an exhilarating price of $150-$250. Nothing is official yet, but a substantial amount of Android fans has been holding off on purchasing current tablets for this one. And if you need just a bit more reassurance, our friends from Android Authority claim to have it.
According to the mentioned site, an anonymous ASUS representative told them during Computex Taipei that the company is in fact working with Google to bring this tablet to the market. Furthermore, the representative mentions that said tablet will be coming by the end of June.
If this happens to be true, we are almost sure this will be one of the highlights of Google I/O this year. We will be there to get you all the juicy details, of course. But if this tablet does happen to be announced at Google I/O, this means that the biggest winner could be one of you.
If the Nexus Tablet is to be announced at Google’s developer conference, there is a high probability they will also be giving it away to attendees. Phandroid is giving away all of its Google I/O gifts; including Rob’s, Steve’s and Chris’ swag. So all of this geeky gear will end up in your hands, if you are lucky.
Another bit of good news from the ASUS ninja is also that they are in the works to bring the Padfone to the US. The source mentions that while “carriers hate it,” AT&T has been the only one to give it a green light. The process is said to be going slower than expected, so we might have to wait a while, though. For now, you can get it from third-party retailers for a very hefty price.
It seems interesting to think that carriers might hate such a unique device. But it becomes more clear as we think about the nature of its novelty. The ASUS Padfone is essentially both a smartphone and a tablet, meaning that users could be able to avoid tethering and tablet data fees. And we know carriers are not easily persuaded to give away their megabytes… or their money.
Remember these are still rumors, so take them with a grain of salt. It all seems very likely, though. We will just have to sit back and see how everything unfolds.
[Via: Android Community]


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Amazon.com Hit by New Phishing Scheme
The latest flood of phishing scams termed as "man in the middle attacks" has found its latest target in Amazon.com. In his blog on Security Fix, Washington Post analyst Brian Krebs has reported that hackers have developed a fake site designed to lure customers of the widely patronized online vendor into revealing their login info.
The volunteer website Castlecops.com, which is concerned with privacy and security matters, notified Krebs about this scam, which starts as an e-mail communication requesting users to up date account information since some illegal dealings have been detected by Amazon.com.
Krebs writes that this kind of hoax guides the user to access his or her account at Amazon.com and then it shows the data that Amazon puts on display as soon as the user is logged in. People who give false or otherwise erroneous usernames and passwords will see a replica of the page Amazon users usually view in case they wrongly type in either one of these entries. The scams are not very different from the one that struck Citibank in the summer. Experts say that they are especially grave since none of the parties is aware of what is taking place.
Russell Dean Vines, head and founder of The RDV Group, a New York-based security consulting services company told SCMagazine.com that the man-in-the-middle exploitation is quite novel. He thinks that coming attacks will be more refined than this one. They will be more difficult to tackle.
Related article: Amazon’s Customers Latest Target for Phishers
» SPAMfighter News - 1/12/2007
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Which international destinations are reopening to tourists?
Although many governments are still advising against “nonessential” international travel, a host of popular destinations are beginning to ease their Covid-19 lockdown measures and border restrictions and are moving toward welcoming tourists back.
COVID-19 travel restrictions by state: See testing, quarantine requirements
Alaska Residents, nonresidents and workers must submit a travel declaration and self-isolation plan through the state's portal. Out-of-state travelers must also arrive with proof of a negative coronavirus test taken no more than 72 hours prior to departure. Alternately, out-of-state visitors can opt to pay $250 for a COVID-19 test upon
France Plans to Welcome Tourists Starting June 9
U.S. travelers could be back to exploring the French countryside and iconic attractions like the Louvre and Eiffel Tower in June. French President Emmanuel Macron has laid out a reopening plan that would allow U.S. passport holders to enter France beginning June 9, assuming COVID-19 levels remain under control and visitors can present proof of vaccination or a recent negative COVID-19 test, The Local France reports.


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BRICS, Mega-regional FTAs and South Africa's Trade Strategy
"Global trade strategy does not appear to be a major focus of the Brazil, Russia, India, China, South Africa (BRICS) grouping, apart from the priority given to completing the stalled World Trade Organization Doha Development Round of negotiations. Mega-regional trade initiatives led by the US – the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) – have stepped into the gap. These initiatives reflect a wider regionalisation of trade dynamics, which the BRICS, both individually and collectively, are already addressing in navigating their response to the TPP–TTIP. The tripartite free trade agreement between the Common Market for Eastern and Southern Africa, the Southern African Development Community and the East African Community reflects one such option for South Africa as it tries to navigate contradictions involving its Economic Partnership Agreement (EPA) with the European Union (EU) and its hopes of not being ‘graduated’ out of the US extension of the African Growth and Opportunity Act (AGOA). It is in South Africa’s interest to promote a US–EU harmonisation between the AGOA extension and the EPAs."


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By David Nadel | February 04, 2020
There’s quite a paradox within the hemp industry. While this industry is massively successful, even being worth billions of dollars, it’s still held back by a lack of regulations and approval from the FDA. This is especially surprising considering the fact that the Farm Bill passed in 2018, making hemp a viable product that could legally be sold in stores. Because of the FDA’s lack of approval, the CBD industry is still struggling to prove its legitimacy to consumers, and it has negatively impacted CBD product manufacturers in a number of ways.
But there is hope…
Legislators in Congress have presented a bill that would essentially force CBD into approval, and this would change the industry dramatically for the better. If you remember correctly, Senator Mitch McConnell was one of the main champions behind industrial hemp cultivation, which we all know is because of his own personal investments in the industry. Regardless of his motivations, however, he has pushed legislators to make CBD as accessible as possible to the general public. Now, legislators are trying to help out the CBD industry even more.
How the FDA Has Hindered the Hemp Market
Those who don’t keep up with the CBD industry might not realize just how much the lack of approval from the FDA has negatively impacted hemp companies. For one thing, the lack of approval means that CBD still struggles to prove its legitimacy to more skeptical consumers who don’t trust anything that hasn’t been properly approved by this organization. Further, it means that companies cannot claim any health benefits, even as more and more scientific studies show the unique effects of the properties native to the hemp plant.
And, that’s not all. A lack of approval means a lack of regulations. Now, you may see this as a good thing as it means that CBD companies have more freedom to do what they want. But, in many ways, no regulation harms the industry. This is because it allows cheap companies to enter the market with poorly formulated products that give the whole industry a bad name.
And, there’s another problem. Because CBD has not been approved by the FDA, it’s classified as a “high-risk” industry. This makes it hard for hemp companies to find payment processors who are willing to work with them. Therefore, this lack of approval has detrimental effects on the CBD industry’s finances as well.
Legislators are Pushing for CBD to be Classified as a Dietary Supplement
Now, you can finally understand why CBD companies can benefit from the FDA’s approval. However, the FDA has been dragging their feet since the Farm Bill passed, and members of Congress are losing their patience waiting around. They had hoped that the passing of the bill would cause the FDA to take action quickly in order to approve CBD, but this has yet to happen. So, this new bill would essentially approve CBD on its own, and it aims to accomplish just that by pushing to classify CBD as a dietary supplement. As of now, companies are forbidden from referring to their products as supplements, and this bill, supported by many members of Congress, aims to fix that. It would also allow CBD companies to make health claims, and to add CBD to dietary supplements on the market, as well as conventional food items that are sold in stores.
What This Could Mean for the Hemp Industry’s Future
If this bill passes, it could change the industry for the better, practically overnight. It would give legitimacy to the industry at last and help the public feel like they can trust the market better than before. It would also allow for regulations to be put in place that can act as quality control over the industry as a whole. This would make customers feel safer buying CBD products that they find in stores and online. And, it would allow companies to claim potential benefits of their products, rather than having to use vague and elusive terms in order to try to sell their goods to consumers.
And, it would allow for CBD to be consumed as a dietary supplement, which means that more formulations could be developed to maximize the results of CBD. Among other things, this bill would also finally allow CBD companies to use standard payment processors and banking systems used by all other industries, which would dramatically improve the financial state of the industry.
Of course, for the time-being, we can only wait and see if this bill does, in fact, get passed. But the good news is that hemp enthusiasts and industry professionals alike can rest easy knowing that Washington’s legislators are largely on the side of CBD. And, even without approval from the FDA, it’s clear that the industry isn’t going anywhere, as demand continues to grow, and the market continues to see stellar profits. So, sooner or later, the FDA will have to come to terms with this and do something to legitimize hemp.
Now, you’re probably wondering what you can do to help with this current situation. Well, one way to get involved is to reach out to your elected officials by phone, showing your support for this bill. As of now, we can only hope that this bill gets passed, as it would sidestep the FDA and bring the market to new heights.


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The Minister of Small Business, Cooperatives and Marketing Mr. Machesetsa Mofomobe has promised to deal with informal trader’s grievances during a public gathering held at Pitso Ground in Maseru yesterday.
Mofomobe among others things promised that he will ensure that businesses which should be rightfully owned by Basotho return to them and blamed previous governments for providing the Chinese nationals with naturalization.
He indicated that he will ensure that small business licenses are issued by the Ministry of Small Business, Cooperatives and Marketing. He further indicated that on Monday next week, he together with the Minister of Local Government and Chieftainship will commence a countrywide journey starting from Mokhotlong where they will identify areas where decent and lockable shelters will be built for the informal traders.
He pointed out that his Ministry is not responsible for payments of COVID-19 Relief Fund, which for informal traders are complaining that majority of them have not yet received. He said they should approach the Office of the Prime Minister for these payments


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Jo Swinson has said the Prime Minister must use talks with Donald Trump to protect British farmers and consumers in any US-UK trade deal post-Brexit.
The Lib Dem leader will use a speech on Tuesday to call on Boris Johnson to ensure any discussions on the sidelines of the Nato summit will feature talks around the UK maintaining its food standards.
Jo Swinson claims leaked documents revealed by the Labour Party last week show American officials are pushing the UK to allow greater use of chemicals in the production of food.
This would include chlorine-washing chicken and growth hormones in beef cattle, according to the Lib Dems.
Highlighting the threat Brexit poses to British farmers, Jo Swinson’s party said there would be a loss of EU financial support, pointing out tariffs for 80% of UK agricultural products that are traded with the bloc and labour shortages due to the end of free movement.
“To make matters worse, Johnson’s desperation for a post-Brexit trade deal with Donald Trump means UK farmers risk being undercut by low-standard imports from the US.
“Boris Johnson must give a guarantee that our farmers and world-leading food standards will not be sacrificed on the altar of a Trump trade deal.
“Only the Liberal Democrats have a plan to stop Brexit so we can build a brighter future for British farmers and consumers.
“We will protect the vital supply chains that we rely on to put fresh food on the table, and uphold the high standards in food production that are the pride of our farming sector.”


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No event in viticultural history has captured the moment that an unheralded wine region shot to fame quite like the 1976 Judgement of Paris. The results of the blind tasting, in which bottles of Napa Valley Cabernet Sauvignon and Chardonnay bested wines from the leading French producers of the time, stunned all. In that moment, America’s wine industry finally emerged from the dark shadow of the failed Prohibition experiment.
In the years after the now-famous tasting, Napa producers doubled down on Cabernet Sauvignon and Chardonnay, embracing the varieties as their own. Unlike in Europe, the names of these varieties took center stage on wine labels, which only strengthened the ties between grape and region. Before long, Napa’s reputation as a world class destination for Cabernet Sauvignon and Chardonnay was sealed.
While the historic nature of the Paris blind tasting has yet to be repeated, multiple New World regions have borrowed from Napa’s playbook. Whereas the DOCs of France and Italy historically sought to turn communes into brands, regions like the Finger Lakes and Willamette Valley, and countries like Argentina and New Zealand highlighted specific grape varieties as their signature wines. In doing so, Oregon Pinot Noir and Argentine Malbec became known far beyond state, national, and even continental boundaries.
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But if the formula for success is indeed so simple, a question arises: Why haven’t other New World regions followed suit?
California, Oregon, and New York account for three of the top five American states in terms of their total number of wineries. Washington State and Texas make up the other two — neither of which has decided to go all in on a signature variety. (Nor, it could be argued, have their wine regions gained the same recognition as Napa or Willamette Valley.) And they’re not alone; look no further than states like Virginia, and California regions such as Paso Robles.
Are these and other “emerging” wine regions missing a trick, or are there valid reasons to opt against close association with individual varieties? And is the key to success really just honing in on a certain grape, or are there other more complex factors at play?
The importance of signature varieties is not lost on Aileen Sevier, director of marketing for Virginia’s Early Mountain Vineyards. Sevier’s prior experience in the industry has spanned positions at an import company, and work as a wine buyer when New Zealand Sauvignon Blanc and Argentine Malbec took off. She has no doubt that the “explosive growth and commercial success” of each example was a direct result of those regions having signature varieties. By conveying a crisp, clear message to consumers, she says, Argentina and New Zealand managed to stand out in a saturated sea of options. Even so, she adds, “There are negatives to mass-market success.”
While signature varieties offer an avenue to quick-fire recognition, they can harm a region’s prospects in the long run — especially if value and affordability are woven into their identities. Before long, journalists inevitably tire of writing about such wines, engaged drinkers will move on to something new, and sommeliers treat them as a cash cow.
As for the regions, their attempts to shift cases of their “other varieties” along with their now-ubiquitously popular signature end up falling on deaf ears among importers, who tell them there simply isn’t a market for New Zealand Pinot Noir.
This very scenario is one that Sandy Block, MW, Boston-based vice president of beverage operations for Legal Sea Foods, experienced first hand. “Coming back from New Zealand once, I got so excited I put seven New Zealand Pinot Noirs on my list,” he recalls. “That quickly got whittled down with the help of the accountant to zero.”
Nevertheless, Block agrees on the importance of signature varieties as a means of becoming known. He points to the varying fortunes of Oregon and Washington in the Pacific Northwest as an example: While Oregon is much smaller in terms of production, the state has marketed its wines successfully via its association with Pinot Noir, he explains. Washington wine, on the other hand, is almost invisible on the East Coast despite its quality “because nobody knows what to make of it,” he says.
The Importance of Tourism
While Sevier and Block highlight the pitfalls of becoming pigeonholed, others argue there are ways for a region to avoid second- album syndrome. The key is focusing on local markets.
Oskar Bynke, co-owner of Hermann J. Wiemer Vineyard in New York’s Finger Lakes region, attributes the region’s success to Riesling. When it comes to selling alternative varieties, Bynke also shares experiences of distributor pushback.
“Ten years ago,” he says, “the only ‘in’ you had if you wanted to sell as a glass pour in New York City was dry Riesling at a very competitive price.”
That’s no longer the case, though, thanks to the Finger Lakes’ burgeoning tourism industry. As visitations to the region’s tasting rooms increased, wineries have been able to taste guests on their full range of offerings from Pét-Nats to Cabernet Franc. Bynke says the “critical mass of tourism” makes producing and selling those wines a viable economic option.
Early Mountain’s Sevier also cites tourism as an important factor in the greater conversation of how a wine region gains recognition.
As a director of marketing, her role is to promote a Virginia winery that produces 11 grape varieties, from a region that has not historically taken the signature variety route. Based on her experience, Sevier contests this is the right decision for Virginia. “With the variability of our climate, the same way Bordeaux has significant vintage variation,” she says, “diversification is the right way for us to be sustainable long term.”
While diversification makes it admittedly tough to communicate with consumers, tourism and tasting room visits allow wineries to break down those barriers, she says, adding, “It’s the most powerful connection you can make.”
The Might of Marketing
Exploring the pros and cons of signature varieties risks ignoring a critical piece of this puzzle: Finding and embracing a specific grape variety does not guarantee success.
On the opposite end of the spectrum, there’s historical precedent for signature varieties never taking off. “I had high hopes 15, 20 years ago of Carménère being that grape for Chile,” Block says. “People don’t love Carménère.”
Similarly, he describes the Pinotage coming out of South Africa over the past decade as being “stellar” and something the country could hang its hat on. In 2019, the native South African red variety accounted for just 7 percent of the country’s grape plantings.
Does this cast doubt on the signature variety theory or is this failure a combination of marketing and approachability?
Almost certainly the latter. Carménère and Pinotage are not well-known varieties in the same way that Cabernet Sauvignon or Pinot Noir are. And while the same could be said of Malbec prior to its runaway success in Argentina, the latter’s flavor profile is considered much more mass-market friendly, lacking the vegetal pyrazine notes of Carménère and Pinotage’s meaty, smoky character.
These are not just hypothetical ideas for vintners in “younger” wine regions to consider; they’re conversations and discussions that play out in real life.
Matt Crafton is the winemaker at Napa Valley’s Chateau Montelena — the very winery that provided the winning Chardonnay for the Judgement of Paris tasting. However, in the early 2000s, he started out as a cellar rat in Virginia. At the time, Crafton recalls, the region was trying to ride the coattails of Napa’s success by putting out Chardonnay and Cabernet Sauvignon. Though the grape names would have been familiar to Napa drinkers, the taste and quality were certainly not.
Crafton remembers a meeting during that period where the issue was debated by vintners, winemakers, and “high-end marketing people” from Virginia’s wine industry. “On the production side, everyone was talking about how Viognier, and Rhône and Spanish varieties would do really well in Virginia,” he says. “But the marketing people kept pushing back, saying, ‘Viognier is not going to sell your wine.’”
We can explore different interpretations of success and the nuances of wine marketing all we want, but ultimately it all boils down to quality.
Winemaking is as much about experience as it is know-how. The year the Napa wines won the Judgement of Paris, Chenin Blanc plantings in the region outnumbered Chardonnay by almost two to one. Carignan reigned supreme across the state, and certain areas of Napa were thought to be too cold for high quality red grape production.
The success of Chateau Montelena’s Chardonnay and Stag’s Leap Vineyards’ Cabernet Sauvignon — the winning red — didn’t just serve validation to these producers; it helped teach them, and their neighbors, a thing or two about their region.
“I find it really fun to look through our old labels,” says Marcus Notaro, Stag’s Leap’s current winemaker. “We were making things like Alicante Bouschet, Gewürztraminer, and Riesling — it was a time of great experimentation.”
And such experimentation is only natural for a younger wine region. “It takes a long time to know what variety is going to do best in your area,” Notaro says.
Perhaps this is not a conversation of if a wine region should embrace a signature variety but instead when it will happen upon it. Like all things in life, maybe it’s only a matter of time.
This story is a part of VP Pro, our free content platform and newsletter for the drinks industry, covering wine, beer, and liquor — and beyond. Sign up for VP Pro now!


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Ecommerce platform, Myntra has introduced the Vernacular Search feature which is a customer-centric feature, and allows users to also shop in their native languages further enabling the ease of discoverability and shopping on the platform for them.
The addition of Vernacular Search to its bouquet of cutting-edge tech-enabled features will help Myntra further penetrate into the non-metro geographies, while expanding its customer base to native language speakers, helping establish the platform as the one-stop fashion destination for customers across India.
The Vernacular Search feature offers consumers the facility to browse and shop for products across fashion, beauty and lifestyle in 10 native languages other than Hindi, including Telugu, Kannada, Bangla, Tamil, Malayalam, Marathi, Gujarati, Odia, Punjabi, and Assamese.
In addition, the platform also supports searches typed in ‘Hinglish’, that is Hindi queries typed in English, for example Kala Kurta or 7 Saal ki bacchi ka Lehnga. In its next phase, in addition to Hinglish, customers will also be able to search for queries in native language written using English script (e.g. সাদা শার্ট which is a Bangla phrase for white shirt can be searched as Sādā śārṭa on the Myntra Search tab and the platform will show relevant results). The feature is also well-equipped to handle the nuances of certain words in regional languages as well as complex queries, such as Baal seedhe karne ki machine or बनारसी ब्लैक साड़ी .
Myntra has recorded significant growth in the non-metro and tier 2+ cities and towns for online shopping, with 20 per cent of searches being non-English. Since the launch of this feature earlier this month, there has been a marked improvement in customers finding precise results for their searches in native languages on the platform.
In a multicultural country like India, the Vernacular Search feature further emphasises Myntra’s customer-centric approach, in addition to the voice search feature that exists on the platform, allowing a great online shopping experience for a rapidly growing non-metro consumer base.
To continuously cater to the non-metro customer base, Myntra also works with creators that create content in regional languages on their social handles.
According to the report “How India Shops Online 2022”, there has been a 5x growth in voice-search users and 3x growth in vernacular-search users over the past year. These innovations are helping make shopping easier for a new wave of online shoppers.
Talking about the launch of the Vernacular Search feature, Raghu Krishnananda, Chief Product and Technology Officer, Myntra, said, “In our constant endeavour to enabling customers to discover and shop better while innovating at scale, we are thrilled to announce the launch of the Vernacular Search on Myntra, which is a significant step towards making fashion more accessible to millions of people across the country. With this feature, we are enabling our customers to search for products in their preferred native languages, breaking language barriers and making fashion even more inclusive. This is one of the many steps we are taking to ensure that we cater to the diverse needs and preferences of our customers, and we are confident that this feature will be a game-changer for online fashion and beauty shopping in India.”


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Majority launches digital banking products for immigrants
Majority, a digital banking platform aimed at immigrant communities, launched to US consumers after a four-month beta test, as reported by Bank Innovation.
To expand its reach, Majority is relying on two drivers: physical meetup spaces and brand ambassadors, since it has no branches.
“If you want to build a successful business focusing on these communities, you need to be part of those communities,” says Magnus Larsson, CEO of Majority. “The reason a lot of underbanked and migrant communities we work with don’t walk into the brick-and-mortar [bank branches] is because of trust factors.”
With the public launch, Majority is adding new features, including early direct deposit and the ability to transfer funds into a Majority account from an outside account. Larsson also confirmed to Bank Innovation that Majority’s first physical meetup space will open later this month in Houston.
Majority customers will receive a prepaid Visa card and access to more than 55,000 ATMs as part of a $5-per-month subscription. Customers can send remittances to Nigeria, Ghana, Kenya and Senegal without fees, a service the company plans to expand to 15 more countries this year.
Read more: Ecommerce firm Dot lands $8m seed funding
Majority also offers customers the ability to make free international calls to more than 25 countries. The company’s partner bank is the Attica, Ohio-based Sutton Bank, which also partners with Monzo’s US arm and Square. The company is working with immigrant communities to decide what products Majority should launch next, Larsson notes.
The company’s primary revenue source is subscription fees, and it also generates revenue from interchange fees. According to the company, Majority has 5,000 customers, and Larsson notes that it plans to open a second meetup space in Miami later this year. Larsson did not reveal Majority’s level of funding, but he previously acknowledged to Bank Innovation that it was a self-funded effort through sister international calling company Rebtel, where he is CEO. Rebtel has raised $28 million, according to Crunchbase.
Offering financial products to immigrant communities is a growing field. For example, Deserve offers card products for newcomers to the US, while Nova Credit sells its underwriting software to help banks offer credit to immigrants. Just this week, remittance start-up Remitly launched Passbook, an app-based bank account for immigrants.


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NBCUniversal Telemundo Enterprises, looking to tap into Snapchat’s youth-skewing user base, launched its first exclusive show on Snapchat.
Telemundo’s 10-episode “Diego Street Magic” features Mexican-American magician Diego Winburn performing magic tricks and illusions on the streets of New York City. After premiering Nov. 19, new episodes will be available Tuesdays and Thursdays through mid-December on Snapchat’s Discover page. The show will be “English-dominant but Hispanic-relevant,” according to Telemundo, to serve a bilingual and bicultural younger audience.
Snapchat, after hitting a lull last year, has resumed its growth and averages 210 million daily active users, who spend an average of 30 minutes on the app daily. The median age of U.S. Hispanics is 15 years lower than non-Hispanics — a stat that impelled Telemundo to create original content for Snap, according to Romina Rosado, SVP of digital media and emerging businesses for NBCUniversal Telemundo Enterprises.
“Our audience is digital-first which is why we continue to expand our storytelling and content development to new platforms and new formats,” Rosado said. “We are thrilled to be launching ‘Diego Street Magic’ and to do so with Snapchat, an ideal partner to reach today’s hyperconnected Hispanic with a fresh, urban take on magic.”
“Diego Street Magic” was produced by NBCUniversal Digital Lab in partnership with NBCUniversal Telemundo Enterprises and October Films. After the full series airs exclusively on Snapchat, episodes will be available on Telemundo’s official YouTube page.


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LOUISVILLE, Ky. (AP) — An overheated Samsung device created smoke that caused a plane to be evacuated at Louisville International Airport on Wednesday, an official said.
The smoke prompted Southwest Airlines to evacuate the plane before it departed for Baltimore, Louisville Metro Arson Capt. Kevin Fletcher told news outlets.
A total of 75 people, including crew members, were evacuated from the flight, and no one was injured, said airport authority spokeswoman Natalie Chaudoin.
Fletcher said there was minor damage to the plane's carpet where the device was dropped.
U.S. safety regulators announced a formal recall last month of Samsung's Galaxy Note 7 smartphone after a spate of fires led to injuries and property damage.
Sarah Green, of New Albany, Indiana, was quoted by The Courier-Journal as saying that her husband, Brian, told her his Galaxy Note 7 made a popping noise and started smoking after he powered it down. Green said the phone had been replaced about two weeks ago due to the recall.
She said he called her from another person's phone to tell her what happened.
Fire department Capt. Sal Melendez said the device overheated during the flight crew's safety demonstration.
Samsung said in a statement that the company is working with authorities to recover the device and confirm the cause.


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A socially distant "cheers" could still be in order after the current state of emergency ends for restaurants and bars.
State Senator Brad Hoylman on Thursday proposed allowing eateries and bars to continue offering wine, beer, and cocktails for take-out and delivery two years after the emergency declaration ends.
The measure is meant to provide a lift for the battered industry that has been closed since March for sit-down service.
“Let’s raise a glass to New York’s hospitality industry," Hoylman said. "If we want our favorite bars and restaurants to survive the crisis, we’ve got to help them adapt. My new legislation will allow bars and restaurants to provide beer, wine and cocktails for take-out and delivery for two years after the crisis ends, giving these establishments a much-needed lifeline while New York slowly returns to normal. L’Chaim!”
The bill would include safeguards like requiring beverages are sold in closed or sealed containers and must be accompanied with the purchased food while also complying with open container laws.
The State Liquor Authority would also be required to hold hearings and determine whether a license holder has the ability to sell beverages for off-premise consumption if there are complaints.
The hospitality industry in New York has been hard hit by the pandemic, with most restaurants reporting sharp drops in revenue and furloughs and layoffs for their staff.


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Data gathered by BusinessDay shows Rokana Industries Plc is groaning under the hash and unpredictable operating environment bedeviling most firms in Africa largest economy Nigeria as the company recorded loss to end 2012 financial year.
The company which produces and markets toothbrushes, environmental and household cleaning brushes thermoforming and plastic products ended 2012 financial year with a loss of N39.40 million compared to the N43.34 million loss position of the corresponding year of December 31 (FY) 2011.
“The company’s business has not been rosy in the recent times as a result of the inter play of so many factors which include: inadequacy of working capital, high cost of raw materials and diesel,” said the directors report.
“Consequent upon this, Rokana has witnessed a downward trend in it performance over the past few years,” the report stated
Rokana’s cost margin a measure of the relationship between cost of sales and sales moved to 50.01 percent from 47.87 percent last year as huge diesel costs continues to surge production costs.
Operating expenses margin a measure of efficiency was 50.8 percent, which means for every N1 made in sales, the company spent 50K. It should be noted that the 50.80 Opex margin is lower than the 74.16 percent recorded in 2011 financial year.
Read also: Investors show less interest in ASeM stocks
A 33.52 percent reduction in Staff costs help reduce operational expenses by 26.80 percent to N56.43 million from N77.01 million the same period of the year. Gross profits were down by 1.1 percent to N52.55 million as against N53.14 million the preceding year.
Finance expenses were up by 79.30 million in the review period to N38.10 million from N21.25 million the preceding year.
It should be noted that the savvy and astute management and boards of directors of company are working assiduously to put in place policies that will revert the company on the part of profitability.
“The management of Rokana is looking into other opportunities including restructuring the company through consultations, interactions and agreements with interested partners/shareholders, which is expected to lead to positive cash inflows and business expansion in the years ahead”, said the director’s report.
Total assets were up by 12.93 percent to N399.13 million as against N353.41 million the preceding year while total equity fell by 52.36 percent to N27.36 million due to recurring loses recorded over time.
The company’s share price closed at N0.60 on the floor of the NSE while market capitalization was N30 million.


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Taco Bell Announces Doritos Taco Shells Coming Nation-Wide, has Already Made Millions of Shells
Careful readers will remember those Taco Bell tacos impregnated with Doritos flavored dust that we reported were popping up in out-of-the-way places across the U.S.. At the time, I was confident that the shells were real but that they would never be making a nation-wide appearance. They would remain a test-market curiosity, beloved by a few. However, that seems to not be the case as Taco Bell has announced that the shells will be debuting nationwide next month. What’s more, they’ve already made millions of them to anticipate demand. Really.
Food Beast reports that Taco Bell made the announcement during a press event yesterday, which included a Mariachi Band. According to them, we can expect to see the Doritos shells begin appearing nationwide on March 8 of this year. They’ll retail for $1.29 for a regular taco and $1.69 for a Supreme and will be called Doritos Locos Tacos. Presumably because you’d have to be insane to want to eat one of these.
What’s more, Taco Bell anticipates that these cheese-dusted tacos are going to be a big deal. Apparently, one in three people ordered one of the bizarre creations at stores where they were available, and the company has even devised a “holster” to keep the cheese dust contained. In preparation for the rollout, the restaurant chain has already made 85 million taco shells. According to Gizmodo, that’s enough tacos for every person in Germany with about four million left over.
It also means that the shells will be about a month old by the time consumers can wrap their lips around them, so that might be worth keeping in mind.
Here’s the topper for this mad tale: Taco Bell says that a Spicy Nacho and the far, far worse Cool Ranch flavor will be available soon. Maybe 2012 really is the end of days.
- Back when the Dorrito shells were just a beautiful dream
- Denny’s has a grilled cheese sandwich with mozzarella sticks inside them
- This is the second time I’ve linked to deep fried baconaise today
- Taco Bell now does breakfast, but more importantly: Has coffee
Have a tip we should know? [email protected]


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It’s been a busy few weeks for the electric vehicle (EV) infrastructure sector in the UK, with new partnerships, the rollout of installations and the careful management of rising power prices.
Here are three key stories within the e-mobility sector over the last week:
BMW teams up with National Parks UK to rollout EV recharging posts
BMW UK and National Parks UK have announced a new partnership to rollout EV chargepoints at 15 National Parks.
The partnership – dubbed Recharge in Nature – will see recharging posts installed at key locations over the next three years. The Lake District National Park will be the first site to be upgraded, with work already underway to install the chargepoints.
Additionally, through the partnership, BMW will support local initiatives with the view to enable more sustainable tourism, help restore nature and boost biodiversity.
“Sustainability is at the heart of our business and enhancing the EV recharging network in the UK’s National Parks will help to make these favourite destinations more accessible for the increasing numbers of drivers who choose an electric car, as well as to support local communities in their shift to the new technology,” said Chris Brownridge, CEO, BMW UK.
“With biodiversity and the health of UK nature more important than ever before, we are also pleased to support a range of local projects within the Parks to help preserve these precious landscapes for the future.”
UK councils set to double EV chargepoints but geographical discrepancies remain
UK councils are set to install more than 16,500 EV chargepoints over the next 12 months, according to new data published by British Gas.
Obtained through Freedom of Information (FOI) requests, the data shows that the number of public chargers currently installed by local authorities will double over the next year.
The company submitted ROIs to 400 UK councils, with 195 responding to all the questions asked and revealing that to date 16,680 EV charging points have been installed, with plans for 16,563 to be installed over the coming 12 months.
“Electrifying the UK’s transport systems is a key component of its journey to net zero, and universal adoption of EVs will only be possible if the charging capacity is there to support it,” said Kim Royds, director of EVs at British Gas.
“It’s incredibly encouraging to see council investment in public charging infrastructure gather momentum. Local councils have an important role to play in expanding the UK’s EV charging infrastructure, giving drivers access to publicly available chargepoints in every town and city in the UK. Of course, alongside this we will need investment in home charging too in order to ensure that we create a robust charging network that enables everyone to benefit from an electric future.”
There is regional variation in the boost to local authority charging, with five regions and nations set to see the figure double.
London is looking at the highest in installed chargers, with a 101% increase from 7,848 to 15,753. While the East of England will see a 131% increase from 974 to 2,254, the North West a 450% increase from 375 to 2,064, the South West a 172% increase from 533 to 1,455 and Wales a 101% increase from 394 to 793.
Other areas are set to see a smaller uplift, with the South East looking at a 98% increase from 1,686 to 3,345, Yorkshire a 94% increase from 478 to 931, the North East a 83% increase from 424 to 780, the Midlands a 67% increase from 1,180 to 2937 and Scotland a 40% increase from 2,137 to 3,039.
But despite these increases in capacity, 24 councils still have no plans to install EV charge points over the next 12 month according to British Gas. Of these, 70% are outside of London and the South East.
The disparity in the rollout of EV chargers remains a key barrier to adoption for many in the UK. For example, while on-street chargers make up a quarter of the UK charging network, analysis from Bulb found that the north has 65% fewer EV chargers per 100,000 people than in the south, as highlighted by Bonnet co-founder Patrick Reich earlier this year.
Bonnet unveils new price plan designed to lower EV charging costs
Bonnet has unveiled a new price plan, which it says should save drivers 10%-15% from standard market rates for charging.
From 8 November, for £2 a month the company will offer a 10% discount for drivers using its 80,000+ chargers under its ‘Light Boost’ payment plan. And for £8 a month subscription, it will guarantee a 15% discount on charging costs under its ‘Turbo Boost’ package.
“We are driven to make the EV charging experience as simple, flexible and affordable as possible for everyone. With our new simpler price plan, whether you are taking it slow on a lamp-post charger or juicing up quick at a service station, you will make significant guaranteed savings with Bonnet,” said Patrick Reich, co-founder and CEO of Bonnet.
“The current turmoil in global energy markets makes this even more important than ever. We are proud that drivers across our UK and European network will have peace of mind in the knowledge that they are getting the best deal possible, wherever they are.”
Bonnet’s Pay-As-You-Go rate will change on its app to align the tariffs set by individual charging networks. This is a change from the previous cap of 50p/kWh, which the company said resulted in drivers overpaying for slower chargers.
It has contacted its users – which are spread across the UK, Austria, Belgium, France, Germany, Italy, Luxembourg, Netherlands, Spain, Sweden and Switzerland – to make them aware of the changes.
Those who currently use the Bonnet ‘Refills’ tariff will be offered two months free boost membership, to spur the transition.
Further details of how the new pricing system will work can be found on Bonnet’s website here.


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TATA Group to scale up its ecommerce play
Tata Group has been actively evaluating M&A opportunities and strategic tie ups to expand its digital presence over sectors ranging from retail to consumer goods. As per the Financial Times report, TATA is looking to pick up a 20% share in BigBasket with other investors. Tata even had held multiple talks with ecommerce players like Snapdeal and India mart. Consumer division of Tata has also set up core team to explore and scout acquisition opportunities in consumer and retail space and potential buyouts in the local ecommerce spaces.
As per the economics Times, there is a sense of urgency now to tap the inorganic route to grow further. Also, there has been talks to lift its FMCG business. The digital presence of Tata, through Tata Cliq; other online delivery and consumer space, is looking to scale up its business to give a tough fight with Reliance retails and Jio platforms which have side lined Tata’s digital presence in recent times through various strategic investments.


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While UK laws guiding fintech record successes, laws put in place to regulate crypto are rapidly going south. The Precautions put in place by Britain to regulate crypto in the UK appears to have caused more harm than good for the industry.
Crypto’s bad actor characteristics forced British authorities to put serious warning measures in place. The warnings were supposed to protect users investing in crypto while keeping tabs on the different crypto companies. However, the reverse has been the case in the crypto industry as it has been misinterpreted generally to mean that the UK is not accommodating to crypto.
Countries Continue to Flee Amid Rigid Regulations
The rigid laws have caused companies to move their market to more accommodating countries. The UK records just 34 firms registered under the laws enacted by the FCA. The other companies that failed to meet registration standards have sought sanctuary elsewhere. Top companies would rather have most of their business outside the borders of the UK where they believe they can thrive; a far cry from the UK’s goal of promoting crypto.
The consumer awareness spearheaded by the Bank of England in collaboration with the Financial Conduct Authority appears justifiable. As of 2020, there was minimal research done to thoroughly assess crypto’s makeup and its full potential in the financial market. This is coupled with the fact that the prices of tokens witnessed a dramatic hike in the market.
In a bid to protect investors and eliminate huge risks, the FCA asked that all crypto companies be registered while adhering to the direct anti-money laundering laws. The fall in the UK crypto market is evident in Pitchbook’s data analysis. Here, there is a decline in VC by 70% in the first quarter of 2022 as opposed to a rise in global deals.
As a counteraction to amending the laws, the treasury has proposed to put in place clearer and better-accommodating policies that would minimize the blow. The treasury understands that accepting and facilitating digital assets is highly essential for its finances. Hence;
- Crypto firms will be allowed to accumulate funds from consumers but they must be secured by banks that are fully licensed
- An independent governing body is to supervise crypto assets
- The FCA is to draft a new set of rules for digital tokens (also known as stable coins) that are not linked to the value of fiat currency
- All digital tokens associated with fiat currency would be encompassed under former e-money laws
- The Royal Mint will issue NFT (non-fungible token)
Fintech experts expressed the fear that soon if crypto firms remain overseas in countries like the USA and Switzerland, regulating them in the UK would be less feasible. There have been popular opinions by crypto firm owners that fintech and the crypto industry are interrelated. Hence, it would be wise to borrow fintech’s regulating system to effectively monitor the crypto industry.
What is Next?
Rather than combat crypto, the new directive to be adopted by UK crypto regulators is a deliberate effort to make laws that can be obeyed. This will ultimately improve the UK financial market once these crypto companies return to their root.


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Why are sales so hard to resist? It's your brain, on discounts
Updated December 12, 2023 at 2:50 PM ET
If sales generally feel hard to resist, the sale in front of Aarron Schurevich was the ultimate test: a new Kia Soul just like the one he'd had and loved, at a dealership he trusted, at a moment when he really needed a car. And it was priced $4,000 off, more than a 20% discount.
"I figured that I would be an idiot not to to take advantage of that," says Schurevich, a teacher from Omaha, Neb. "I'd better snatch this opportunity before it evaporates."
After he sped through paperwork and drove the car off the lot, the deal turned sour. Bills arrived with hidden charges. The brand-new car quickly needed repairs. Schurevich now jokes that he paid a tax for being a fool.
"You know it's that kind of voice in the back of my head that's like, 'Are you being a sucker?'" Schurevich says. "And unfortunately, that day, that voice was a little bit quieter than it oughta have been."
Why is it so hard for the human brain to resist a discount, especially around the holidays? This big-ticket example illustrates all the dynamics that play out when any of us falls for a sale.
How a sale works its way through your brain
When you shop, there's usually a standoff in your brain between what can be described as its emotional and rational parts.
"The human brain has essentially evolved to feel first and think next," says Carolyn Yoon, who studies consumer neuroscience at the University of Michigan.
Spotting something you'd like to buy activates your brain's reward circuitry. Dopamine-fueled impulses pump you up. Anticipation might have you imagining how great life would be with this new thing if only you had it. It's especially intense if you're predisposed to like something — say, the same Kia Soul you've enjoyed for years.
The counterbalance is your cognitive mechanism. It might pipe up like a prudent accountant: Do I need this? Is this worth it? How does it fit in my budget?
A sale lands like the thumb that tips your mental scale toward buying.
In fact, the discount itself often registers as a win, delivering its own bolt of joy, says Jorge Barraza, a consumer psychologist at the University of Southern California.
"Not only are we getting the product," he says, "but we're also getting that reward that we discovered something, we've earned this extra thing."
How stores prime and prod us
Stores, of course, know all this and try to push our buttons.
Experts say we often subconsciously believe popular things to be more valuable or more rewarding. Plus, there's our urge to avoid losses — call it loss aversion or simply FOMO, the fear of missing out.
So stores appeal to our crowd mentality: It's Black Friday, and everyone's shopping, buying that thing you'd like. They create urgency: Your favorite car is on sale today only! And they create scarcity: Shop now while supplies last!
"Limited-quantity, limited-time, scarcity-marketing promotions — they get people's blood pumping," says Kelly Goldsmith, who studies this as a marketing professor at Vanderbilt University. "You attribute it to the product: it must be good."
Research also finds shoppers are often more willing to spend extra on other people versus themselves, says Savannah Wei Shi, who researches pricing and decision-making at Santa Clara University. So some stores might promote sales for "friends and family" to get us thinking of others and feeling more generous.
Retailers also try various pricing tricks. For example, picture a store shelf where a smaller bag of candy sits next to a larger bag of the same candy.
"How do we make more customers go to the more expensive option?" says Shi. "We add a decoy."
The decoy is a third, medium-sized bag. It's much smaller than the big bag, but only slightly cheaper. It makes the biggest bag look like the best deal, so shoppers buy that one — the most expensive option on the shelf.
Another classic is the suggested price — an amount always higher than the discounted offer, still listed on the tag for comparison. Barraza says people not only perceive expensive things as higher-quality, they actually experience them as higher-quality.
"So the suggested retail price can really pack a wallop," he says. "We can communicate quality to a consumer. But then we can discount it and have consumers think, 'Not only am I getting a quality product, but I'm getting that for a much cheaper price.'"
How to shop smarter
It's really hard to always approach sales rationally. Even experts struggle. Barraza says during the last holiday season, he almost bought a video-game system simply because it was on sale.
Deals and sales certainly can be good and useful. And Barraza underscores that prices are subjective, so a discount may be unattractive to one person but appealing to another.
One buying strategy experts recommend is to make a shopping list in advance and then stick to it. Another is to research items — beforehand or on the spot, checking online — to weigh whether the sale really is a good deal.
Most importantly, give yourself time to cool off from your instant reaction.
"The ability to think can override the emotional state," says Yoon. "The more you spend time thinking and bring your cognitive processes to bear ... you have a shot at basically saying, 'No, I think I'm going to pass,' even though that wasn't your first inclination."
In fact, this is what stopped Barraza from buying that gaming system: Standing behind about 20 people in line to check out, he had time to ponder whether he actually wanted the thing or was simply swept up in the excitement of a sale.
"I was saved by that line," he says. "A little bit of time can go a long way."
Remember: we feel first and think later. Your internal accountant just needs a moment.
NPR's Joe Hernandez contributed to this report.
Copyright 2024 NPR. To see more, visit https://www.npr.org.


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When in October The Walt Disney Company raised admission prices for its Disneyland Resort, fans of the Disney World parks knew it was only a matter of time before the Mouse House raised admission prices in Orlando, Florida.
Disney World had already raised prices for food and beverages, including alcoholic beverages where it is served, in October. Most of the increases were as small as 20 cents more for the Columbia Harbor House chicken strips, 30 cents more for a Casey Corner Walt Chili whole-beef hot dog, 50 cents more for a Pecos Bell cheeseburger, and in some cases, $1 more, as for sangria. Homemade White by Crystal Palace. One of the highest increases was the Be Our Guest Enchantée Champagne Brut Bottle price going from $79 to $85.
The Disneyland Resort did indeed increase some food and beverage prices in August, which included increases of 40 cents for a bottle of Coca-Cola, an additional 50 cents for Dole Whip and an additional dollar for a turkey leg at $12.99, according to wdwnt.com.
Higher prices than inflation
The Disneyland Resort admission price for admission to the popular Disneyland or California adventure is still as low as $104 (five dollars less than Disney World) in a history of low demand for a one-day theme park ticket, but Disney (dis) – Get a free report On Oct. 11, the admission rate for a high-demand date increased to $179, 9% higher than the previous ticket high of $164. This is higher than the October CPI increase of 7.7%.
Anyone who wants to visit the Disneyland Resort parks on a one-day Park Hopper will pay a little more than before for the privilege of seeing both Disneyland and California Adventure. The lowest-cost one-day Park Hopper in low demand has gone from $164 to $169. The high asking price for the one-day hopper is $244.
Disney World ticket price is more than Disneyland
As expected, Disney World on November 15 rolled out a price increase, which will take effect on December 8 and top Disneyland Resort’s $189. However, if guests move quickly and purchase tickets before December 8, they can book tickets at $159 or less for Orlando’s theme parks.
The new prices for one-day Disney World theme park tickets will vary per park, as reported by The Points Guy. Animal Kingdom will be the least expensive, ranging from $109 to $159; Epcot will cost from $114 to $179; Hollywood Studios, $124 to $179; and Magic Kingdom, from $124 to $189.
Disney parks halted sales of new annual tickets last year without saying when they will resume. But existing cardholders will pay more. Disneyland’s new annual Inspire Pass costs an additional $200 at $1,599; The Believe Key has gone up by $150 to $1,099, and the Enchanted Key and Imagine Key have gone up by $50 each.
Annual Disney World Pass renewals include an Incredi-Pass increase from $100 to $1,399; Magician, $70 to $969; and Pirate from $50 to $749.
Disney World has also made a change to the ticketing system that visitors will love. Guests who purchase one-day park tickets for select parks on select dates will automatically receive a park entry reservation at the time of ticket purchase. However, visitors will still need to make their own reservations for multi-day tickets or annual pass visits.
The park reservation system has been in operation since the Disney parks reopened after the Covid pandemic closures in 2020.
#Disney #World #raises #ticket #prices #drops #visitors #hate


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In this interesting article for CGTN, Alessandro Golombiewski Teixeira (former special economic advisor to the president of Brazil during Dilma Rousseff’s administration) assesses the results of the recent state visit by Cuban president Miguel Díaz-Canel to China in terms of trade and investment.
Noting that revolutionary Cuba was the first government in Latin America to establish relations with the People’s Republic of China, Teixeira writes that “this visit carries more than a traditional friendship visit between two comrades and leaders of communist parties. The Cuba-China relationship goes beyond good friends and good comrades for they have been joining hands on the socialist path, supporting each other on core interests, coordinating closely on international and regional issues, setting a model of solidarity between socialist countries and cooperation between developing countries.”
The author observes that the two countries already have significant and growing economic relations, and that Cuba is China’s second-largest trading partner in the region (after Venezuela). With Cuba going through very difficult times as a result of the pandemic, the tightened US blockade, and a sequence of natural disasters and accidents, Díaz-Canel’s visit will set the scene for a deepening of trade, aid and investment, “helping Cuba to overcome the most difficult situation faced in recent history… Only with the help of friendly countries as China, Cuba has a chance to overcome the US embargo and prosper as a nation.”
Cuban President Miguel Diaz-Canel Bermudez has embarked on a two-day visit to China at the invitation of the General Secretary of the Communist Party of China (CPC) Central Committee and Chinese President Xi Jinping. Diaz-Canel is the first head of state from Latin America and the Caribbean region to visit China after the 20th CPC National Congress. It’s important to highlight that this visit carries more than a traditional friendship visit between two comrades and leaders of the communist parties. The Cuba-China relationship goes beyond good friends and good comrades for they have been joining hands on the socialist path, supporting each other on core interests, coordinating closely on international and regional issues, setting a model of solidarity between socialist countries and cooperation between developing countries.
The origins of the bilateral relations have begun during the Qing Dynasty (1644-1911) when a representative was established in Havana while Cuba was still a colony of Spain in 1879. In 1902, the Qing Dynasty recognized the independence of the Republic of Cuba from the United States, which had taken it from Spain in 1898. On the other hand, in 1960, the new revolutionary government in Cuba established diplomatic relations with People’s Republic of China (PRC), but with the exception of Chile (1970), most other Latin American governments did not recognize the PRC until then U.S. President Richard Nixon’s 1972 visit to Beijing signaled that the world’s alliances were changing. Argentina and Mexico recognized the PRC that year, followed by Brazil in 1974 and Bolivia in 1985.
Cuba and China have developed very solid economic relations based on trade, credits, and investments, which have increased significantly since the 1990s, making Cuba the second-largest trading partner of China after Venezuela in the region.
China remains one of Cuba’s main economic partners and technical assistance providers as the two countries expand their cooperation and experience good mutual relations such as being members of the Belt and Road Initiative.
In 2020 for example, China exported $483 million to Cuba. The main products exported from China to Cuba included dried legumes, combustions engines, video displays, and iron structures. Cuba on the other hand exported $441 million to China. The main products exported from Cuba to China included raw sugar, nickel mattes, zinc ore and rolled tobacco. During the last 25 years, the international trade between Cuba and China has increased at an average annualized rate of about 4.89 percent.
The visit is one of the most important visits that Cuban leaders have done to China not only to inject new impetus for bilateral relations and advance traditional friendship and cooperation but also to discuss with China a stronger commitment to helping Cuba overcome the most difficult situation faced in recent history. Cuba is facing an unprecedented internal economic crisis based on new U.S. sanctions on top of the decades-old trade embargo, COVID-19 pandemic and the destruction of very important infrastructure caused by Hurricane Ian that severely hit the island.
This scenario has caused a shortfall of a 40 percent decline in imports and has hobbled the government’s ability to provide Cubans with food, medicine, consumer goods and inputs for industry and agriculture.
With this backdrop in mind, the visit of Diaz-Canel overlay. Not only the Cuban Government but also the Latin American governments hope that China can continue supporting the “Isla Bella” and expanding its partnership.
As a very brave and resilient government, Cuba has approved a long-term plan until 2030 in three stages, identifying key economic sectors to confront the crisis (e.g., tourism, exports of professional services, energy) and employing important reforms such as financial incentives, decentralization and more autonomy to state enterprises, foster and eliminating restrictions to micro-business, decentralization of foreign trade, and the increase of foreign direct investment (FDI), though the results are not yet seen in the economy. Therefore, it is crystal clear that Cuba’s difficulty in the economy and people’s livelihood are largely caused by U.S. sanctions in which the American government even added up more measures and attempted to stage political chaos in Cuba early this year.
This visit also represents a great opportunity for China to exercise its guiding principle of international relations. As Xi has pointed out that the a community with a shared future for humanity underlies China’s strategic thoughts on the long-term development of its bilateral ties with the world with goals such as peace, equality, development and win-win cooperation. China’s development experience can help Cuba to overcome its internal and external challenges. Using the successful Sino-Vietnamese model, especially in agriculture and industry, Cuba could be self-sufficient in food in six or seven years. Receiving more infrastructure investment and upgrading its machinery sector could help not only survive the current crisis but also expand its economy.
Finally, we believe that China-Cuba partnership is a win-win one and must be strength based on the cooperation on scientific and technical exchange and innovation in the industrial and agricultural sectors, medical, education and training exchanges and energy and transport infrastructure. Only with the help of friendly countries as China, Cuba has a chance to overcome the U.S embargo and prosper as a nation.


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You might be aware that luxury handbags have become much more expensive recently but did you know why? It hasn’t gone unnoticed by fans and customers that the cost of a Chanel bag has soared significantly in recent years. If you’re wondering why have Chanel bags increased so much in price then read on to find out what has caused this dramatic price increase and what it means for luxury fashion collectors!
In March 2023, Chanel announced yet another increase in the prices of their bags, which did not come as a surprise to collectors and the market. The price of the Chanel Classic flap bag went up by 16%, resulting in most bags now retailing for over $10,000. The prices of the Chanel Coco Handle, Chanel 19, and Chanel Pearl Crush also increased by 14%. For instance, the price of the Chanel Classic Medium Flap bag increased by 16% from $8,800 earlier in the year to $10,200 currently. Chanel’s CFO, Blondiaux, was recently quoted saying that they usually revise their prices twice a year, and they will continue to do so.
The increase in prices for Chanel bags has been a trend for a while now, with the luxury brand experiencing a steady rise in prices since 2008, and even more so in the last five years. The reason for this can be attributed to the rising production costs and supply disruptions caused by the COVID-19 pandemic, which have driven up manufacturing costs. However, the growing global demand for Chanel bags has also contributed to the increase in prices. Despite the rise in prices, the demand for Chanel bags has remained high, as seen by the robust resale market.
History of Chanel Bag Prices
When comparing the current prices of Chanel bags to previous years, the increase is staggering. For instance, the Chanel 2.55 bag, which was sold for $220 in 1955, now sells for $10,200. The Medium Chanel Classic Flap bag, which was sold for about $1,000 in the 1980s, now retails for $10,200 after the recent price hike. Since 2016, Chanel has increased their bag prices at least once a year, with the average Chanel flap bag now retailing for over $10,000. Additionally, Chanel has been regularly raising the prices of all their classic styles, including the Chanel Reissue, Wallet on Chain, and Boy bag. However, the prices of the Chanel Wallet on Chain and Boy bag have increased at a slightly slower rate.
The high demand for Chanel bags and the limited supply in most boutiques have led to an increase in the resale prices of Chanel bags. A vintage Medium Chanel classic flap bag from the 1990s now sells for over $6,000 at Sotheby’s, despite retailing for about $1,200 in the 1990s. Moreover, the recent rate of price hikes has resulted in some Chanel bags purchased a few years ago in a boutique now being worth more than they were when they were purchased. The resale prices for Chanel are currently at an all-time high, with collectors seeking rare bags from previous seasons and sold-out new styles.
Selling a Chanel Bag
Considering the ongoing price hikes from Chanel and the high demand for their bags, now is an excellent time to consider selling a Chanel bag or jewelry item. Sotheby’s sells Chanel bags and accessories for immediate purchase on their marketplace and is accepting vintage and modern Chanel for consignment. Their specialists can provide an estimate for your pristine or excellent condition bag or accessory.


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Modern technology has become an important part of today’s developed world. The omnipresence of computer technology is not just a myth, but the reality. Hence, it is inevitable for the new digital platforms to enter almost every aspect of life. Cryptocurrency has grown as a digital payment method some time ago. The innovative technology has not been without controversy. Cryptocurrency and initial coin offering (ICO) have sparked heated debates that are usually polarized. Many people viewed digital currency as a threat that may be a boon to money laundering. Although cryptocurrency is engulfed in controversy, millions of online gamblers are using it.
Initial coin offering (ICO) is an unregulated means by which funds are raised for a new cryptocurrency venture. This raised concerns regarding potential fraud and money laundering activities. Cryptocurrency found its right place in the online gambling sector, but it could not enter the traditional land-based casinos until recently.
Macau-based company Dragon Corp. announced its plan to sell digital tokens via an initial coin offering (ICO). The company’s idea aims at raising $500 million. The money will be invested in a 1,600-square-meter floating cryptocurrency casino at a dockside in Macau. The name of the project is known to be Dragon Pearl Casino Hotel and it is a joint venture between Dragon Corp. and Thai-based Wi Holding. Dragon Corp. is based in the British Virgin Islands, which means that any potential legal disputes will be resolved by British Virgin Islands’ authorities.
Some time ago, Dragon found itself at the heart of a media firestorm after the company was said to have links with Wan Kuok-ko, also known as Broken Tooth. The 61-year-old Kuok-ko spent 14 years behind the bars after being accused of illegal gambling, loan sharking and criminal association. In a recent interview with Business Insider, the CEO of Wi Holding Chakrit “Chris” Ahmad explained that the company has nothing to do with the aforementioned person.
Dragon’s ICO Offers Two Options to Investors
Macau is the only Chinese territory where casino gambling is legal and it is recognized as one of the world’s most profitable gambling venues. Cryptocurrency has appeared on the radar screen of Chinese authorities, who decided to ban the use of the technology within its borders. Nevertheless, Dragon does not expect to be affected by the recently-introduced prohibition as the company’s digital tokens have been issued in Hong Kong.
Macau’s gambling industry is closely related to the so-called junket operators, who work as promoters for Macau’s billion-dollar gambling venues. Under Dragon’s ICO, people from the public sector who decide to participate in the fundraising process will have the opportunity to buy digital coins, which will be exchangeable for gambling chip tokens in the Dragon Pearl Hotel Casino. Investors will be also allowed to keep their digital tokens and wait for their price to reach a record-high level, just like bitcoin did a few days ago. Industry experts remain optimistic that Asia’s gambling Mecca is to embrace the innovative technology in order to set its gambling industry apart from the competition.


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Sometimes less truly is more. Way more.
Manhattan developers are starting to think small as they increasingly work on buildings that include a small number of expensive, luxury apartments, according to the Wall Street Journal. The less-sizable digs are aimed at buyers who prefer the privacy of a smaller building but still want the amenities that come with a luxury tower.
Nancy Packes, a marketing consultant to developers, told the newspaper that there is a “cultural backlash” against the new, tall, shiny buildings. “People don’t want to feel they are changing the character of a chic neighborhood, like people who landed from another planet,” she said.
Developer Edward Minskoff, after having built a non-residential 14-story tower in the East Village, is converting a building at East 12th Street in Greenwich Village into six luxury apartments, which are expected to hit the market next week. Prices will range from $9 million to $32 million, according to the newspaper.
Another example is The Whitman at Madison Square Park, a star-studded building with only four units that offers a full-time doorman and a private gym. On the Upper East Side, one owner has turned a sprawling mansion into seven luxury units. [WSJ] — Claire Moses


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(AllHipHop News) Atlanta rap star T.I. continues to be dogged by a lawsuit concerning an alleged unpaid bill for almost $1 million worth of jewelry.
Aydin & Co., which bills itself as a company that caters to celebrities, claims the rapper copped hundreds of thousands of dollars in jewelry from the years 2004-2012.
According to Bossip.com, T.I. had an open account with the company, but stopped paying the bill around 2013, prompting the lawsuit.
For his part, T.I. claims he doesn’t owe Aydin & Co. for any purchases prior to 2011, and that the goods in question were stolen in a 2016 burglary, so the rapper is working with his lawyers to have the case dismissed.
But in the latest legal wrangling, Aydin & Co. is asking a judge to force T.I. to testify about the jewelry and the cash in front of a jury, to sort the matter out.
Aydin & Co. is reportedly seeking a portion of the $775,000 in insurance money the rapper received for the stolen gems.