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I.D. Systems acquires Keytroller for $9 million
Deal complements high-end lift truck management system with mid-range products, I.D. Systems says.
By Ben Ames
Asset management technology provider I.D. Systems Inc. said today it has acquired Keytroller LLC, a manufacturer of electronic products for managing forklifts and other vehicles, in a deal that adds a line of mid-range and economy products to I.D. Systems' high-end industrial truck management systems.
Woodcliff Lake, N.J.-based I.D. Systems paid $9 million for Tampa, Fla.-based Keytroller, and could shell out an additional $3 million if Keytroller reaches certain growth targets over the next two years. The deal is expected to close before the end of July, following customary closing conditions.
I.D. Systems plans to retain Keytroller President Terry Wickman and other employees, operating the company's office in Florida under its current brand name as a separate subsidiary, I.D. Systems CEO Chris Wolfe said in an interview.
The acquisition will allow I.D. Systems to expand beyond its core client base of large global enterprises that buy its flagship PowerFleet industrial truck management systems, the company said. Keytroller rarely competes head-to-head with those PowerFleet devices, instead marketing most of its products through a large network of lift truck dealers to small and medium-sized end users, according to I.D. Systems.
By combining those complementary distribution channels, the merged companies will strengthen their combined position in the industrial truck management market, Wolfe said. The companies will now be able to sell through an array of channels, including I.D. Systems' direct sales to large enterprise clients, resale partners such as the forklift vendors Toyota Material Handling North America (TMHNA) and Mitsubishi Caterpillar Forklift America Inc. (MCFA) for midrange clients, and Keytroller's resale channels through independent dealers, he said.
In the long run, the companies intend to create a common software platform that allows clients to migrate between existing products from both firms, such as Keytroller's "Infomatics" software as a service (SaaS) fleet management software and I.D. Systems' "Vision Pro," Wolfe said.
Keytroller reported annual revenue of $6.6 million in 2016, compared to I.D. Systems' annual revenue of $36.8 million for the same year. I.D. Systems will include Keytroller revenue as part of its industrial truck management product line beginning in the third quarter of 2017, the company said.
"Keytroller's business complements our industrial truck management segment incredibly well, from product mix and market position to sales cycle and customer diversification," Wolfe said separately in a statement. "The acquisition should contribute immediately to I.D. Systems' revenue and profitability, as well as position the company to achieve a more predictable, profitable revenue stream from a much more diverse customer base."
An additional benefit of the deal is that acquiring Keytroller gives I.D. Systems a new source of industrial truck usage data for its PowerFleet IQ analytics database, enhancing the value of that tool for multi-site enterprises, according to I.D. Systems.
About the Author
Ben Ames has spent 20 years as a journalist since starting out as a daily newspaper reporter in Pennsylvania in 1995. From 1999 forward, he has focused on business and technology reporting for a number of trade journals, beginning when he joined Design News and Modern Materials Handling magazines. Ames is author of the trail guide "Hiking Massachusetts" and is a graduate of the Columbia School of Journalism.
More articles by Ben Ames
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BY OUR REPORTERS
•Insists petrol constantly supplied to DAPPMA, MOMAN, IPMAN
•Address fuel scarcity before things get out of hand, Labour tells FG
•DAPPMA, IPMAN, MOMAN react; queues persist nationwide
ABUJA—The Nigerian National Petroleum Corporation, NNPC, yesterday, accused oil marketers, under the aegis of Depot and Petroleum Products Marketers Association, DAPPMA, of distorting the facts in their claims that its members’ tanks are empty because they were not being supplied Premium Motor Spirit, PMS, also known as petrol.
NNPC, in a statement in Abuja, by its Group General Manager, Public Affairs Division, Mr. Ndu Ughamadu, described DAPPMA’S claims as unfortunate, stating that it had continued to supply the marketers huge quantities of the product despite the group’s N26.7 billion debt to its subsidiary, the Petroleum Products Marketing Company, PPMC, as at December 21, 2017.
Ughamadu also accused DAPPMA of refusing to resume fuel imports, despite concession granted the group by the Federal Government to obtain foreign exchange at the official rate of N305 to a dollar.
He said: “NNPC wishes to affirm that it has supplied appreciable volume to DAPPMA, Major Marketers Association of Nigeria, MOMAN, and Independent Petroleum Marketers Association of Nigeria, IPMAN, to rid the challenges currently being experienced in the supply and distribution of petroleum products in the country.
“NNPC regrets that DAPPMA, which members had taken receipts of products from PPMC, a subsidiary of NNPC and owe the company to the tune of N26.7bn as at December 21, 2017, has the audacity to indict NNPC unjustifiably.
“The statement by DAPPMA that the current hiccups in the supply of products was due to the inability of the Direct Sale Direct Purchase, DSDP partners of NNPC to deliver on their business obligations is unfounded and self-indicting as many DAPPMA members patronize the same DSDP international counterparts as the corporation.
“Despite the concession by the government giving access to DAPPMA to obtain FOREX at an official rate of N305 per dollar for PMS import, their members have not been able to do so, leaving NNPC as the sole supplier of PMS to the Nigerian market.”
Ughamadu assured the public that despite the increase it effected in the supply of PMS in December 2017, it has nonetheless, programmed to supply 1.2 billion litres of the product in January 2018, translating to about 40 million litres of PMS supply per day.
He explained that ordinarily, Nigeria consumes about 700 trucks, an equivalent of 27 million to 30 million litres per day.
“Despite the current challenges, Nigerians are reassured that there is no plan to increase PMS pump price above N145 per litre and that NNPC will continue to maintain ex–depot price of N133.28 per litre which guarantees the pump price not exceeding the N145 per litre capped by the government.
“All stakeholders are implored to support the efforts of government to bring a speedy end to the current fuel distribution challenges being experienced in parts of the country as this is not the time to play the blame game,” the NNPC spokesman noted.
DAPPMA, IPMAN, MOMAN
Meanwhile, Executive Secretary of DAPPMA, Mr. Olufemi Oluwole, when contacted for response on NNPC claim, disclosed in a telephone interview with Vanguard that the association will respond at an appropriate time.
He said DAPPMA was mainly interested in getting adequate supplies for its members to sell in order to assist in tackling the shortage.
Also, Operations Controller of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Mr. Mike Osatuyi said that IPMAN has been getting supplies from the NNPC.
He said: “For instance, IPMAN members lifted 15 trucks of fuel from Ejigbo, yesterday, for distribution,” adding that the shortage will be tackled if supplies from NNPC were sustained.
“We lifted 15 trucks from NNPC today (yesterday) at Ejigbo depot. If the supplies are sustained, the situation would certainly improve. ’Our members will cooperate with NNPC and other stakeholders to tackle the scarcity as soon as possible.”
Executive Secretary of Major Marketers Association of Nigeria, MOMAN, Mr. Femi Olawore could not be reached for comments, yesterday.
But a source in the association said the major marketers, including MRS, Conoil, Total and Oando, have been getting regular supplies from NNPC.
Address fuel scarcity, Labour tells FG
Organised labour has also called on the Federal Government to immediately address all identified challenges that brought about the current acute scarcity of petroleum products across the country.
Speaking through the United Labour Congress of Nigeria, ULC, labour said: “We believe that Nigerian workers and masses deserve a better treatment than these excuses before things get out of hand.”
It urged all government agencies involved in making products available in the country to move very fast and bridge the supply gap either by importing more directly, or making foreign exchange available to importers to bring in more products.
ULC in a statement by its President, Joe Ajaero, while contending that the more sensible approach to ensuring a permanent end to scarcity was to ensure that local refineries are made to work optimally, said: “We hope once again that this is not a prelude to the 2012 gimmick as giving Nigerians sorrow and bitterness during this period has become the sole aim of our various governments.
“Our investigations and reports reaching us from our affiliates in the industry shows that the present situation is clearly a manifestation of another failure of leadership in Nigeria. It cannot be blamed on any panic buying or hoarding as the product is seriously in short supply. Importers are not bringing in enough products while NNPC is not in any position to meet the demands of the market.”
Long queues, hardship remain
Meanwhile, the worsening fuel crisis continued across the country, yesterday, as long queues were seen across the few petrol stations selling the commodity, some at the recommended price in Lagos and Abuja, while in other states, the product sold far above the recommended pricce.
In Abuja, of the three petrol stations at Dutse on the Abuja-Kaduna Expressway, only Gegu was selling, while at the NNPC mega stations on either side of the Abuja-Kaduna Expressway, at Mpape, it was a chaotic situation, as in addition to the long queues, some unruly motorists formed other queues at the exit gate of the stations, thereby hindering the free flow of traffic on the road.
On the same stretch of road, Oando, Total and Shema Petroleum, all at Mpape, were not selling, while long queues were seen at A.A. Rano and MRS filling stations.
At the NNPC filling station after Games Village in Abuja, large queues were witnessed, while same scenario was prevalent at the Conoil and Total filling stations opposite the Nigerian National Petroleum Corporation, NNPC, headquarters.
Almost all the petrol stations visited were selling the commodity at the official price of N145 per litre, while in some of the stations, motorists complained that the pumps have been adjusted and are under-dispensing.
However, Dated filling station and Onome petrol station, at Aso Road, near Aso Secondary School, Karshi, Abuja, were selling the commodity at N250 to motorists, who still besieged the stations to get the product.
One of the motorists on queue, Mr. Michael Adelowo, appealed to the authorities to call owners of the stations to order, lamenting that one of the stations had been selling the product at that amount since the crisis began.
Our correspondents, who moved round some parts of Delta State, yesterday, reported that travellers returning home to their stations to resume official duties after the Christmas break were stranded at motor parks due to the high cost of transportation occasioned by the fuel scarcity.
At Asaba, some petrol stations still sold the product at exorbitant prices ranging from N220 to N250.
A tricycle rider, Mr Ifechukwu, lamented that the situation has reduced patronage, urging the Federal Government to “do everything to ensure that the whole situation is arrested. The Christmas celebration has come to an end and I expect that the price would have come down by now.”
At Ozoro, headquarters of Isoko South Local Government Area of the state, only two petrol station were seen selling the product at the price of N260 per litre, even as black marketers sold for N400 in the area.
A traveller, Doris Akatathi said she spent the sum of N21, 000 travelling from Lagos State to Delta with her three children for the Christmas celebration, lamenting that they were now stranded as they were finding it difficult to return to their station due to further increase in the cost of transportation.
A transporter, Mr. Andrew Efedue, who plies Ozoro/Ughelli road said some of the petrol station operators usually locked up their stations to attract desperate customers who would prefer to buy at high prices, saying “something urgent must be done to spare Nigerians this agony. We must not continue like this.”
At Oleh, Isoko South Local Government Area of the state, all the petrol stations in the town were under lock and key at about 11.30 a.m., yesterday.
“Even in the black markets where we bought petrol at N400, yesterday (Tuesday), the product is no longer available. I had to move to Akiowhe before I could buy fuel at N240 per litter,” a motorists in the area, told Vanguard.
At Kwale, headquarters of Ndokwa West LGA of the state, the situation was not different as only one filling station was selling in the area at the price of N250 per litter.
Those who could not cope with the lengthy queue in the petrol station were forced to buy the product in black markets at the price of N350 per litre.
Most petrol stations were still locked yesterday in Warri and environs with the few opened for business dispensing petrol at N250 to customers.
Motorists groaned as they grudgingly bought fuel. Queues were not noticed at the filling stations selling on Warri – Sapele road because of the high price.
Black marketers sold a litre of petrol for between N300 and N350. One of them at the Refinery road end of Warri -Sapele road who gave her name as Roseline, said she still had patronage since most filling stations in the heart of the city were locked.
“Mainly, you find filling stations selling petrol on the highway. So motorists, who just want a little, do not see the need to drive to either Warri-Benin road or Warri–Abraka road in search of filling stations. They just come to us (black marketers) for small quantity they need to drive round town and for their generators,” Roseline said.
Petrol is still being sold at N250 per litre in most filling stations opened for business in various parts of Enugu State.
Even though some fuel stations sell at N220 and N230 per litre, the cost remained at N250 per litre since December 23.
The situation led some residents to park their cars, while families that have more than one car use only one.
Bus fare from Abakpa to old park within Enugu Metropolis, has remained N100 instead of the previous N50, while Enugu to Nsukka that used to cost N500 now goes for N1,500.
Mr. Chris Asogwa, said: “I’ve parked my car because I can no longer cope. The problem is not that the price of petrol is too high but for me to go and stand in long queue to buy fuel at N250 per litre is unacceptable to me. So I’ve parked my car and now trek.”
It was learned that the Department of Petroleum Resources, DPR, has been going around the metropolis to enforce regulated price of N145 per litre but with little success.
DPR Manager in-charge of Enugu zone, Alhaji Gwaram Ahmed could not respond to inquiries made via phone calls and text messages.
Most stations in Port Harcourt, River State, have shut down because of lack of products to dispense, while it has been gathered that some of the filling stations were hoarding the product, believing that the worst was yet to come.
Yesterday, fillings stations that had the products sold at N230 and N250 per litre, while black market operators sold at N300 and N320. The filling stations now prefer selling the product to hawkers at N270 with the extra commission of N200 for 50-litre can, N100 for 20 litres, and N50 for 10 litres and below.
A driver, who simply identified himself as Uchendu in queue in one of the filling stations, told Vanguard that the situation in the state appeared to be the worst in the nation.
He said: “I have gone to over seven filling stations, none is selling. The filling station is selling at N230 and we are buying it. They prefer selling to the black market women because they make extra money.”
In Benin City, Edo State, although the pump price of the product has risen to between N240 and N260 per litre, only few stations opened for business.
The black marketers have reduced their prices from N3,500 for a 10-litre can to N3,000 following the increased number of stations now opening for business.
While transport fares within the city have been slightly adjusted, that of inter-state and outside the state remained high.
Transport fare to Auchi, which was N800, has been increased to between N1,700 and N2000, while from Benin to Benue State has risen from N4,000 to N8,000.
Transport fare from Benin to Lagos is now between N8,000 to N9,000 from the old fare of between N3,500 and N4,500 depending on the motor park.
However, chairman of IPMAN Midwest zone, Chief Solomon Ogbewe, said efforts being made by the Federal Government and the PPMC will yield fruits by weekend.
The scarcity of PMS has taken a dangerous dimension in Calabar, Cross River State capital as most filling stations have closed shop due to non-availability of the product.
When Vanguard visited major filling stations, yesterday, it observed that many had their gates locked because there was no fuel, while the ones that had the product were selling between N190 to N230 per litre.
Vanguard also observed that black marketers sold a litre of fuel N350 and N400.
Some of the motorists who spoke with Vanguard, said they had been at the filling station for over three hours without buying as some of the stations got instructions to close because they won’t be able to lift products from the depot till Thursday.
A commercial bus driver, David Ekpeyong told Vanguard that he came out since 6:am but the product finished when he got to the pump. A commuter, Dr John Ita said he paid N100 instead of the normal N50 naira taxi drivers usually collected.
Vanguard further observed that people roamed various filling stations in the state looking for the product.
The lingering petrol scarcity has persisted and is biting harder in Abia State with most petrol stations not selling the product.
The few that dispensed in Aba and Umuahia were selling well above the official price.
In Aba, a litre of petrol is sold at between N250 and N270 while in Umuahia, the state capital, a litre sold for between N240 and N250. In the hinterland, it is sold for as much between N300 and N400.
However, at the NNPC Mega Station on the Enugu-Port Harcourt Highway, the product sold at the regulated price of N145 but the situation there was chaotic.
Queues of vehicles stretched over four kilometres but the managers and pump attendants were allegedly being induced by friends and others, who were willing to part with N500 and N1000 to allow them enter from the exit point to buy fuel.
Worried by this, a group, Abia State Coalition of Groups and Associations of Nigeria, ABSCONGAN, has threatened to drag the Independent Petrol Marketers in the state who sell petrol above the official pump price of N145 to court.
Also, another group, Concerned Advocates Against Corruption, has called for the immediate arrest and prosecution of fuel dealers who still sell petrol above official pump price.
The scarcity of petrol in Abakaliki, the Ebonyi State capital is alarming as most fuel stations visited by Vanguard had vehicles queue up to buy the product at exorbitant prices. The product, at press time, was being sold between N260 and N300 per litre but the product was hardly availabile.
Most motorists spent the night in the area to ensure they purchase the product.
“There is no place to get fuel now. If you must get fuel, you have to come out early to any filling station with available product so that you can buy. The price is between N260 and N300, a civil servant told Vanguard.
Most filling stations in Anambra State suddenly resumed sale of petroleum products, yesterday, following information filtering into the state that large quantity of petrol had arrived Nigerian ports for distribution throughout the country to ease the scarcity.
Since the scarcity of petrol became noticeable in various parts of the country, most fuel stations in Anambra stopped selling, while the few that open their stations for business have been selling between N250 and N300 per litre.
In fact, apart from the NNPC mega stations, where motorist have been queuing overnight without hope of seeing fuel to buy, other major marketers have also not been selling. Rather, private filing stations have been having a field day, dispensing at whatever prize they liked.
In one of the stations in the heart of Awka, an attendant, who called herself Chiamaka said their manager ordered them to resume work, yesterday, and to start selling because of the fear that prizes would come down by the end of this week.
Following the development, queues had disappeared in most stations, except at the NNPC stations that still sell at N143 per litre.
It has been a traumatic yuletide celebration for Bayelsans due to the biting fuel scarcity in the predominantly riverine state where a litre of fuel was being sold between N250 and N300 per litre in Yenagoa, the state capital.
The same product goes for N400 in the hinterland especially in the riverine enclave where the means of transportation is by boat which consumption of fuel is about four times that of vehicles, thereby, causing 100 per cent hike in transport fares.
The poor power supply in the last one month has also compounded the woes of residents and the increase in the demand for the scarce product in the state.
Accordingly, many motorists in the state capital have converted the NNPC mega station on Sani Abacha expressway which sells at the official N143 per litre pump price to their second home in search of the commodity since the scarcity reared its head in the state early December.
Also, road side fuel hawkers have been making brisk business as some motorists who could not stand the rigour of the long queues at the fuel stations have been patronising them in spite of their selling at N300 per litre.
Business activities within and around Kano metropolis have been brought to its knees following current scarcity of petrol in most filling stations, yesterday.
Findings by Vanguard in the commercial city indicated that the product was on sale at the only NNPC designated centre with queue stretched to 2.5km from the source.
Most of the commuters who spoke with Vanguard at the NNPC mega station complained bitterly of alleged “sharp practices” by officials who they accused of extortion at the point of service.
An official of NNPC mega station identified as Iliya refused to clarify position over the allegation.
Despite non-availability of petrol in gas stations, it was a different scenario on most streets in the city as hawkers recorded boom in their illegal business.
A hawker of petrol at Farm centre general area, who identified himself as Abu Danbumburutu was full of praises for President Buhari for the hiccups in the official supply chain of the product.
According to him “In recent years, we have never had it so good, the supply is smooth and a litre of petrol now cost N240.00 as at today. “
It’s been tales of woes, misery and agony for motorists and commuters alike across Benue State following several weeks of scarcity of fuel in the state.
The scarcity of the product which started two weeks to the Yuletide has persisted and the people have been left to bear the brunt.
Vanguard investigations revealed that though most of the filling stations in Makurdi town have not been selling the product to stranded motorists, some have the products but were adamant to sell, citing a sudden increase in the cost of purchasing the product from depots.
As at yesterday, the only filling station where motorist could assess the product in Makurdi town was the NNPC Mega Station on the ever busy Makurdi-Otukpo Road, where hundreds of car owners queue endlessly to buy the product at the rate N143 per litre.
The situation has created an opening for black marketers, who were busy making brisk business, selling a litre of the product for as high as N350.
Meantime, a filling station operator who craved anonymity told Vanguard that most filling stations in the town have products but prefer to dispense to black marketers late at night to enable them recover their investment.
In Kastina, it was difficult accessing fuel, as long queues pervaded the few stations that had the product, while black marketers had a field day.
Our correspondent, who monitored the development in Katsina noticed that a litre of petrol sold for between N215 and N230 at fuel stations.
The black marketers sell between N300 and N350 per litre. Most motorists Vanguard spoke to, lamented the hardship caused by the scarcity.
According to Ustaz Idris, a car owner: “The fuel scarcity is getting worst on a daily basis. The price keeps on increasing every day. I bought in Kankia about two days ago for N220 per litre but am sure it has increased now.
“Here in Katsina, even to see the product is a big problem,” Idris said.
THE scarcity of petrol continued to bite hard across Ondo State even after the Christmas celebration.
Findings by Vanguard showed that it was only independent marketers that were dispensing the product at N250 per litre.
No major marketer had sold the product since the scarcity became noticeable about 10 days ago in the state. Findings showed that many of them were hoarding the product and sold late at night for N200 per litre.
Transport fares in the state had been jerked up by 150 per cent by commercial drivers. Speaking with Vanguard, a petrol attendant with one of the independent marketers said the landing cost of the last fuel they bought was N200 hence they decided to sell for N250.

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While the coronavirus pandemic has upturned traditions and plans, it has also meant that luxury hotels have slashed prices
by NUR HANANI AZMAN/ pic by RAZAK GHAZALI
WITH a movement ban ruling out traditional Hari Raya family reunions, some Malaysians are opting to spend the holidays in hotels nearest to them.
While the coronavirus pandemic has upturned traditions and plans, it has also meant that luxury hotels have slashed prices.
The circumstances are providing an alternative way to spend time with family while complying with the travel ban.
A check by The Malaysian Reserve at several hotels in Kuala Lumpur (KL) revealed that hotels that have only catered to essential frontliners fighting the Covid-19 are opening their doors to leisure guests.
Four Seasons Hotel KL said they accept guests while ensuring that health and safety of patrons and staff are the top priority.
“Our hotel is now open and welcoming guests, and we have embarked on an important collaboration with Johns Hopkins Medicine International to validate our enhanced global health and safety programme, ‘Lead With Care’.
“We continue to closely monitor the evolving situation and to abide by all local health authorities,” it said on its website.
Four Seasons Hotel KL restaurants Curate and The Lounge are reopened in accordance with the government specifications, but the spa, pool and fitness facilities remain closed.
Travel and lodging search site Agoda showed one five-star hotel in KL slashes its room rates by 63%, offering a room at RM500 from RM1,351.
Rooms at the posh JW Marriott Hotel KL are on offer at RM430 (during the check) from RM1,048.
Located in the city’s prime business and shopping district, and adjoining to the prestigious Starhill Gallery, JW Marriott offers easy access to the lively and vibrant shopping strip which boasts upscale brands.
Serviced apartments like Ascott KL are one of the options for the KL-lites who want to eat lemang and rendang in a glam way.
The Ascott Ltd CEO Kevin Goh said all guests, staff and associates have been advised to practise good personal hygiene and seek medical attention immediately if they feel unwell.
“We have also implemented precautionary measures at our serviced residences and hotels in accordance with the guidelines from the World Health Organisation and public health authorities in the respective countries.
“These include intensified cleaning and disinfecting of our properties, having house- keeping attendants wear masks and gloves when cleaning the apartments, and health measures such as temperature screening as advised by the authorities,” he said in a statement.
Studio Premier rooms at The Ascott KL, which include kitchenette, are on offer at RM378 (during the check) from RM723, based on Agoda’s promotion.
Meanwhile, National Union of Hotel, Bar and Restaurant Workers Peninsular Malaysia secretary general Rosli Affandi encouraged more hotels to accept leisure guests as a way to increase revenue.
With the implementation of the Conditional Movement Control Order allowing most economic sectors to reopen from May 4 onwards, some Malaysian hotels resume business operations according to recommended guidelines.
However, Rosli said there are some hotel operators who are still cautious about future prospects and have opted to cease operations temporarily.
“As long as the hotels are following the standard operating procedures, it shouldn’t be an issue.
“Rather than keep hotel rooms empty that could lead to more closures and lay-offs, it’s better to resume business and resolve cashflow challenges,” he said.


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Upstate New York lags in pandemic economic recovery
When the pandemic started, unemployment in the Syracuse area skyrocketed by over 17%. Now, nearly two years later, the local job shortfall is still at roughly 8%. That’s the fourth-worst recovery in the country behind places like Buffalo and New York City according to the Federal Reserve Bank of New York.
“So we're recovering, but not as quickly as the United States as a whole,” said SUNY Oswego economics professor Liz Schmitt.
She said it’s been more difficult for New York’s economy to recover since it was hit so hard so early on in the pandemic.
“So part of the reason is we dug ourselves a bigger hole,” she said. “So when you climb out of the hole, even if you're climbing at the same rate, you're in a deeper hole. So you're not going to be where the rest of the nation is.”
She added that the tight restrictions New York officials put on gatherings didn’t help either.
“We've exerted a lot more constraint on economic activity on gatherings, restaurants, etc. than other states, and that's going to have an impact as well,” said Schmitt.
And there are a few other reasons like the lack of international travel throughout the state while the border remained closed.
“The Canadian border closure hurts kind of trade and economic activity in upstate New York,” she said.
Education and healthcare make up a good portion of the upstate, specifically Syracuse, economy. So any departure in those industries is harmful to local economic recovery according to Schmitt.
“We've had a lot of departures of teachers and healthcare workers,” she said. “And that's a larger share of employment in upstate New York.”
Other smaller metro areas in upstate New York like Ithaca and Utica are also still struggling to recover with Ithaca only recovering so far by roughly .3%.
That’s not to say there hasn’t been recovery. Upstate New York, and the nation, is in a much better economic position than it was in 2020. However, with a combination of continued worker shortages, supply chain issues, and another surge in the virus–it’s unclear what the path forward looks like for Syracuse’s economy.


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The Biden administration’s ongoing stimulus efforts, combined with the vaccine rollouts across the country, are quickly ramping up the reopening of the U.S. economy. As a result, retail stocks are throwing off Covid-19’s shackles.
According to CNBC, March retail sales were up almost 10%, the second-best month on record.
One retail stock that has done well in 2021 is Big Lots (NYSE:BIG). It’s up 53.6% year-to-date through April 19. That compares to 11.0% for the U.S. markets as a whole and the 42.7% YTD return of the SPDR S&P Retail ETF (NYSEARCA:XRT). A stock that hasn’t done so well is Walmart (NYSE:WMT). It’s lost 2.7% YTD.
As consumers open their pocketbooks in the coming weeks, it’s not as easy as plunking down money on Walmart stock or Amazon (NASDAQ:AMZN) to make money off the resurgent consumer.
Omnichannel will remain a big part of retail. Maybe not in the same way before the pandemic, but companies like Levi Strauss (NYSE:LEVI) are looking to take advantage of the “vacancy tsunami” to grow their U.S. direct-to-consumer footprint.
That said, any retailer worth its salt must have its e-commerce business running smoothly if it wants to gain the long-term attention of investors.
- Apple (NASDAQ:AAPL)
- Williams-Sonoma (NYSE:WSM)
- Target (NYSE:TGT)
- Home Depot (NYSE:HD)
- Lululemon (NASDAQ:LULU)
- Deckers Outdoor (NASDAQ:DECK)
- Costco (NASDAQ:COST)
With that in mind, here are seven retail stocks to buy that have clearly got e-commerce fully locked in.
Retail Stocks to Buy: Apple (AAPL)
This week’s big Apple Event saw a huge list of tech upgrades for the newest generation of Apple products. It also saw Apple stray from its sleek white minimalism, as the company offers up a new line of products drenched in color, including a purple iPhone 12 Pro.
Apple’s iPad business generated approximately 9% of its overall revenue in 2020. Sales were robust in the second half of 2020 and into 2021. In the first quarter of fiscal 2021, iPad sales grew 41% to $8.44 billion, just shy of Apple’s Mac desktop business. If the iPad keeps this up, it will pass Mac sales in 2021.
According to ecommerceDB.com, Apple’s e-commerce revenue in 2020 was an estimated $32.8 billion or 11.9% of its overall revenue for the year of $274.5 billion.
While that might not seem like a lot, it’s all part of the ecosystem driving AAPL stock. Every piece of it — online, iTunes, in-store, wholesale, etc. — helps drive the Apple machine. The online store lets consumers feel like they’re part of the Apple ecosystem without actually being in an actual store.
It’s another selling tool to promote the brand.
While there’s no question Apple faces some issues in its business, it remains the largest and one of the healthiest public companies on the planet. That counts for a lot.
When I’m asked to write about retail stocks that consistently knock it out of the park, Williams-Sonoma usually makes the list.
In June 2016, I said it was one of the best stocks in retail. Basically, if you believed omnichannel was the future for retail, WSM stock had to be in your portfolio. It’s up 225% since then.
And a big chunk of the gains has come in the first four months of the year. WSM is up 66.4% YTD. A big reason is its e-commerce channel.
Williams-Sonoma reported Q4 2020 results in March. In the fourth quarter, its sales grew 24.4% year-over-year, with online sales accounting for 70% of its overall revenue. Same-store sales across all four of its brands increased by 20% or more over last year.
In 2020, sales increased by 15% to $6.8 billion, while adjusted earnings per share almost doubled to $9.04 a share from $4.84 a year earlier.
While it expects its business to return to more normal levels in 2021 — approximately 50/50 between online and brick-and-mortar — it plans to hit $10 billion in annual revenue in the next few years with a 15% operating margin, up from between 7.5-10% over the past five years.
One of the best CEO hires in recent retail history has got to be Brian Cornell at Target. The discount retailer was faltering badly when he joined the company in August 2014 after executive stints at PepsiCo (NASDAQ:PEP) and Sam’s Club. The first thing he did was close its Canadian stores at the cost of $5.4 billion.
Strong leadership requires making tough decisions. I doubt he’ll face anything quite so difficult over the remainder of his time at Target. And that includes dealing with the pandemic.
In 2020, Target gained $9 billion in market share by creating a shopping experience that is second to none in the U.S.
“Our combination of upgrading physical experience and the ease and convenience of our digital fulfillment options, I think is giving us an opportunity to win share and win trips and clicks with consumers no matter what they’re looking for,” Cornell said recently at the JPMorgan Virtual Retail Round-Up.
Target’s digital sales grew by more than $10 billion in 2020, driven in large part by 235% growth in same-day services. In 2020, digital sales accounted for 17.9% of Target’s overall business, double the contribution a year earlier.
TGT stock is up 17.6% so far this year. Cornell expects digital sales to continue to grow in 2021 and beyond. That should take the share price along for the ride.
Home Depot (HD)
I saw an interesting article from The Motley Fool that highlighted how Lowe’s (NYSE:LOW) is going after some of Home Depot’s share of the professional contractor’s business.
While HD generates approximately 45% of its revenue from professional contractors, Lowe’s only gets between 20-25% of its sales from this same cohort. Naturally, Lowe’s is trying to get to 45%, which would add as much as $20 billion in annual revenue.
While it’s an admirable goal, Home Depot has worked hard to gain the trust of professional contractors. It’s not about to give up market share to its rival.
That’s why it bought back HD Supply for $8 billion, including the assumption of debt in 2020. HD Supply was a former subsidiary it sold to private equity interests in 2007. HD Supply focuses on the distribution of maintenance, repair and operations (MRO) products for the multifamily and hospitality end markets.
I know this doesn’t have much to do with e-commerce, but ultimately, the company’s sales run through one bucket. The acquisition ensures that the bucket stays full.
As for e-commerce, eMarketer expects Home Depot to generate $20.02 billion in online sales in 2021, making it the seventh-largest retailer in the U.S. Amazon’s expected to be number one at $36.7 billion.
When you consider that most consumers think of Home Depot as a big-box retailer and not an e-commerce company, the fact that it’s only $16-billion shy of Amazon is actually quite an accomplishment.
I expect HD stock to continue to surprise on this front in the years to come. The share price is up 22.7% YTD.
Lululemon reported excellent Q4 2020 results at the end of March.
Among all the numbers thrown out, as is customary in these press releases and conference calls, was the fact its digital comps increased by 92% in the fourth quarter. That comp was more than double what it did in Q4 2019.
In 2018, LULU made the goal of doubling its e-commerce revenues by 2023. It reached its goal three years early in 2020. Its digital sales accounted for 52% of its $4.4 billion in total revenue for the year.
Nearly every aspect of its business did well in the fourth quarter. The company’s North American sales grew 21% in the fourth quarter while sales outside the U.S. and Canada rose by 47%. Women’s apparel saw a 19% increase in sales while men were up 17%.
As for its brick-and-mortar locations, it finished the fiscal year with 521, up 30 from 2019. The U.S. accounts for 60% of locations, followed by Canada (12%) and China (11%).
In 2021, Lululemon expects annual sales of $5.6 billion at the midpoint of its guidance, $180 million higher than analyst expectations. It remains on track to quadruple its international sales and double its sales of men’s clothing between 2018 and 2023.
Lululemon remains one of the world’s strongest retailers, online and off. The fact that the LULU stock price is down 6.13% in 2021 belies that strength.
Deckers Outdoor (DECK)
It’s hard to believe that I haven’t written about Deckers Outdoor more often in recent years. It’s possible I included the maker of Uggs in a gallery of stock recommendations. My aging brain is having a tough time remembering if that’s the case.
Anyway, in February 2019, I recommended DECK stock despite the fact it was approaching an all-time high of $146.90.
“Deckers has come a long way in two years. In two more years, Deckers shareholders likely will be celebrating a second time,” I wrote on Feb. 6, 2019.
“I hadn’t paid a lot of attention to Deckers in recent years, but the latest results suggest it’s ready to have another growth spurt. At $140, it’s a buy.”
How’s it done since? DECK stock is up 130%.
A big part of the company’s strong performance is its direct-to-consumer (DTC) business, which includes its retail stores and e-commerce websites. In the first nine months of 2020, its DTC business accounted for 42% of its overall revenue of $1.98 billion. That was up from 34% in 2019.
Deckers Outdoors’ HOKA brand is coming on like gangbusters. Through the end of December 2020, the brand’s overall sales were 57% higher year-over-year to $393.7 million, with DTC growing 111.9%.
While it doesn’t break out the split between store and online sales, it’s logical that Deckers’ various brands saw an uptick in e-commerce sales in 2020 due to the pandemic.
Anyone who’s ever been to a Costco knows about the $1.50 hot dog and soda combo. In 2020, Costco sold more than 151 million hot dogs to hungry shoppers before, during, and after their purchases had been made.
It doesn’t mess around with what works.
Late to the e-commerce party, Costco caught up in a hurry. On April 8, the company reported March sales that included a 57.7% increase in online sales, same-store sales growth of 16%, and overall sales of $18.21 billion, 17.6% higher than March 2020.
In the company’s second quarter, it reported that online sales jumped 75.8% while they grew 79.7% in the first six months of fiscal 2021. Online sales in February were up 91.1%, even better than the gains they had in March. Still, COST stock is down YTD, albeit less than 1%.
In 2019, Costco’s online sales accounted for less than 5% of its sales. By the end of 2020, they had doubled to more than 10%, and they’re still climbing.
It’s come a long way in recent years.
“If you go back three or four years ago, I don’t think we had good email addresses for much more than a third of our member base,” CFO Richard Galanti said in September 2020. “We didn’t focus on that kind of stuff. Today we have well over 60% and growing.”
Costco’s got a system that works. Even with online sales as part of the equation.
On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities.


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The biggest automobile fair of the entire nation, NADA Auto Show 2018 concluded on Sunday, September 16. Meeting the expectation of organizers around 65 thousand people visited in the six days automobile fair.
Organizers claimed that the show went outstandingly well, it was beyond the expectation.
“We successfully concluded the show, I am almost sure that all our visitors were happy and satisfied with the gala,” said Shambu Prasad Dahal, President of NADA.
Regarding the financial transaction that took place during the event, NADA hasn’t disclosed anything officially.
Rita Automobile bagged the award for Best Supporting Stall. Similarly, in Best Stall (2 wheeler category) Jagdamba Motors was awarded, which is the authorized dealer of TVS. Likewise, Puja International an authorized dealer of Volkswagen grabbed the award for Best Stall (4 wheeler category)
Every year NADA comes with new and exciting things, continuing the legacy, this time to there was a lot of amazing and incredible stuff, said Bibek Dhungel, a student of Kathmandu, based Padmashree Int’l College.
NADA is not only about showcasing vehicles; to entertain its visitors some of the stalls were offering different sort of games with exciting gift hampers. From a school student to well known public figures, everyone showed their participation in the event. A healthy number of participants showed up in the game. Similarly, many international visitors also showed their presence in the event.
About NADA Auto Show:
A comprehensive event, the NADA Auto Show encompasses exhibits and demonstrates renowned auto brands and auto components. The show is aimed at publishing and promoting modern and technological advancements in the automobile sector.
NADA Auto Show portrays consistent effort to create massive awareness about the importance of mobility, the usefulness of automobile, safety driving, traffic rules and road safety among the general public.
NADA Auto Show is not only a platform for buyers and sellers; in fact, it is a legitimate platform for the information exchange, market analysis, and presentation of the progress of entire automobile sector in Nepal.


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By Efleda P. Campos / Senior Editor
SOUNDS and visuals have helped sell products for years.
Actually smelling the product in a showroom or a store is a signature service AudioWAV Media Inc. (audioWAV) is giving its customers, using a company-developed app to enhance the buying experience of the target consumers who see, hear and smell the product being promoted.
Carlos Jose “Caloy” G. Hinolan, audioWAV CEO, said his company is a rapidly expanding tech-media company in Asia that provides “dynamic visuals, engaging music and messaging, ambient scenting, and interactive mobile solutions across brick-and-mortar businesses using its centrally managed proprietary technology.”
The company uses the Internet and its own app to enhance the end-user’s “multisensory experience or branding” to push the product beyond the in-store environment.
Hinosan said his company provides “cutting-edge atmospheric sensory-branding technology that’s centered on enhancing experiential marketing. Think better sound, scent and sight. The result? Increased brand awareness, and deeper customer connections.”
He said his company began in 2003, providing in-store advertising using sounds and visuals. Among his first clients were Chow King’s 288 stores.
His service now includes a combination of audio, visual and olfactory sensations. He said his company is currently installing the third—smelling the product seen on the store monitor—in bigger Mercury Drug locations, about 1,100 outlets—throughout the country. His goal is to provide his company’s low-tech, green-technology service to 5,000 Mercury Drug stores by the first quarter of 2017.
Among his clients are the country’s biggest malls and store chains throughout the country.
His client base is expanding, he said, eyeing China, Singapore, Thailand and Vietnam, among the Philippines’s Asean neighbors. In fact, his company is now pilot-testing—in three months—his service in a store chain in Indonesia. Soon, he hoped, his company’s service will expand to encompass the Asia-Pacific region and beyond.
“We like to think global,” he said.


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Posted: 22 May 2013
Formula 1 team Caterham has announced plans to enter a team into one of the world’s toughest on-water races, the Global Ocean Race.
Posted: 17 May 2013
It’s the brand new product from America that helps surfers get closer to the action.
Posted: 1 May 2013
A Fareham businessman will step out of the boardroom and onto the stage in May as he puts on a charity gig to raise money for children and young people with life-limiting illnesses.
Posted: 22 March 2013
PSP is proud to offer the following shipping schedule, specifically tailored to yachts of all shapes and sizes.
Posted: 6 March 2013
WORLDWIDE boat transportation specialist, PSP, has delivered a 40m yacht to Dubai. PSP, title sponsor of the PSP Southampton Boat Show, loaded the Sunseeker yacht onto transportation vessel ‘Palembang’ at Southampton Docks on February 7.


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Last August, we reported that Noah Everett, the founder of Twitter photo sharing site Twitpic, has launched a new site, called Heello. The site wasn’t open to the public yet, but a year later, it looks like the curtains have finally been drawn on Heello.
At first glance, it seems a lot like Twitter. You create a username, which is @’username’ and you can connect with Twitter and Facebook. You… → Read More


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Hrithik Roshan opens first HRX flagship store in Mumbai
Bollywood celebrity Hrithik Roshan opened the first flagship store for his fitness focused clothing brand HRX in Mumbai on April 14. The brand will continue to expand its brick-and-mortar footprint across India and open 12 additional stores in 2023.
HRX’s first store in Mumbai opened in Phoenix Market City mall in Kurla and measures 2,600 square feet, the brand announced in a press release on April 14. Roshan inaugurated the store, which has 500 products in categories including clothing, footwear, accessories, fitness equipment, audio, nutrition, and personal care.
“HRX was built a decade back as an online brand, offering comfortable and functional fitness apparel and accessories to encourage people across the country to pursue their everyday fitness goals,” said Roshan at the Mumbai store launch, the brand announced in a press release. “After a decade-long journey we have come this far and I am delighted to announce the launch of the Mumbai store, which is a translation of our online experience into a more personalised offline experience.”
HRX is jointly owned by Hrithik Roshan and Exceed Entertainment. The brand caters to Gen Z and millennial fitness enthusiasts and fans to the actor, who is known for his love of exercise. The new store is designed to offer an integrated shopping experience and the décor resembles a gym.
“The immense love and trust in the brand from the HRX community has enabled us to launch this store in Mumbai while continuing with the plans of launching many more,” said Roshan. “I hope shoppers will enjoy the HRX in-store experience and all our product offerings as much as they enjoy the experience on Myntra.”
Copyright © 2023 FashionNetwork.com All rights reserved.


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On September 23, auction-house firm Christie publicly expressed the intention to sell its first nonfungible token (NFT) at an auction. The news came barely a week after the record-setting $100,000 sale at auction of a digital art piece, which also leveraged digital blockchain tokens to vest the collector’s new ownership rights.
In the meantime, Anthony Pompliano, Morgan Creek Digital co-founder, said on September 21: “I personally believe that the digital art market cap will grow to become larger than physical art market cap. This sounds ridiculous today.”
It is undeniable that the digital art market is gaining momentum every day. Duncan Cock Foster, the co-founder at digital gallery Nifty Gateway, said: “The digital art movement is growing at an incredibly rapid pace. The amount of growth we are seeing has surprised everyone involved, I think.”
Much of this is definitely credited to the COVID19 Pandemic that has little travelling and shut down museums. “Digital art allows people to engage with art from their homes, on their computers, on their phones, and send images/videos back and forth easily, which makes digital art especially suited to this time in history,” Blake Finucane, co-founder of a position paper on NFT-based art titled “Crypto art: A decentralized view,” said. However, something else may be transferring. One of the historical problems with digital art has been that it is “essentially impossible to monetize,” said Finucane, adding:
“If something exists only in digital form — i.e., a gif, a meme, a digital image, a digital video — it is easy to simply screenshot, copy or paste it, or replicate it. A digital artwork’s value is diminished when it comes to selling it commercially because it is so easy to copy — and difficult to track what is, in fact, the original artwork.”
However, suppose a digital piece of art is tokenized. In that case, the original work can always be tracked through blockchain tokens, “making it much easier to gain commercial value since someone can actually ‘own’ the original work,” she said.
“It is significant for digital art,” Giovanni Colavizza, assistant professor of digital humanities at the University of Amsterdam, said, adding that tokenization “allows us to exchange and create value from forms of art which previously were problematic.”
On September 18, NonFungible.com, a platform that monitors NFT sales data, reported a record high in art-based NFT volume ($162,385). This was followed by the second-highest daily sale of $123,205 on September 22. Generally, the increase in sales of blockchain digital artwork has been outstanding since June.
Digital Art + Blockchain = Crypto Art
Digital art has been in existence for several years. Artists started experimenting with computers seven decades ago, but it is only recently that digital art was tokenized on a blockchain network. For example, Ethereum’s non-fungible token, ERC-721, which many digital galleries embrace, wasn’t developed and rolled out until early 2018.
The traditional art industry dismisses digital art, wondering they should embrace digital art when copies can be made. They often forget that a person using the NFT technology can prove that he owns the original asset. Digital arts can be compared to eBooks, which, like digital art, existed for several years with little interest until reading gadgets, like Kindle and iPad, were invented.
“The art world has been craving a way to collect digital art, and NFTs are a picture-perfect solution to this problem,” said Cock Foster, adding that everyone should distinguish between digital art and crypto art, the latter being the tokenized or blockchain-enabled version of the former.
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Inno-Pak LLC, a portfolio company of Emerald Lake Capital Management and a designer, manufacturer, importer and supplier of packaging for prepared and takeout foods, has bought Albany Packaging Inc.
The company is focused on the design and manufacture of custom and stock folding paperboard cartons, including bakery boxes and food packaging items such as trays and takeout boxes. Albany has a manufacturing facility in Ontario, Canada, which services customers across the food service, grocery and convenience store channels.
“The acquisition of Albany enhances our ability to capitalize on these positive trends with one of the most diverse custom and stock folding carton programs,” says Jon Sill, chairman of Inno-Pak. “With our recent portfolio additions and our continued investments in innovation, we are better positioned to serve our customers.”


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The Alliance for a Healthy Tomorrow (AHT)
A broad coalition in Massachusetts working to pass laws and policies that prevent harm to our health from toxic chemicals. Our top priorities are to create a groundbreaking program in Massachusetts to systematically replace toxic chemicals with safer alternatives that are better for workers and the environment, and to compel the Massachusetts Department of Health to use its authority to protect the health of children and vulnerable adults from the toxic chemical bisphenol A. Please join the effort.
With great market power comes great responsibility. Retailers hold the power to choose which products are available to consumers, and what ingredients go into store brand items. With a lack of federal regulation over toxic chemicals in consumer products, retailers have the potential to step in and screen their inventory, and by doing so have a large impact on improving public health and the environment. In support of pressuring retailers to take action, the Alliance for a Healthy Tomorrow coalition is excited to join other environmental and health organizations in joining the efforts of Mind the Store this spring.Read more...
"Dear Retail Stores, Listen up!" urges 11-year-old Sophie Alcindor. After learning about the dangers of toxic ingredients in cosmetics and personal care products at her after school program, Sophie decided to take action. In a letter addressed to major retailers, she expressed her desire for change:
"We all get it that you want to make money, but are [sic] this neck to neck competition really worth it. Can customers walk in and feel safe without having to feast valuable hours just to find good and safe products....Stop having dangerous products in your stores. If you would listen to the scientists or chemists telling you they are bad then maybe you would have more customers. Create a safe environment for the customers."Read more...
Did you know that retinol, the vitamin A supplement added to many anti-aging creams, is actually listed as a developmental toxin? Or that methyleugenol, commonly used for fragrance in a variety of personal care items such as lotions and shampoos, is a known carcinogen?
Earlier this month, the California Safe Cosmetics Program launched a searchable online database listing cosmetic products containing ingredients that are known to pose risks of cancer, birth defects, or other reproductive harm. This database is a result of the California Safe Cosmetics Act of 2005, which requires that companies self-report a list of all products sold in California that are known or suspected to contain ingredients with the aforementioned health risks.
Autism rates have been rising exponentially, with a 600 percent increase over the past two decades. Today 1 in 50 children are diagnosed with Autism Spectrum Disorder (ASD) in the U.S. every year. Research compiled by The Institute for Agriculture and Trade Policy explores recent reports that there may be more at play here than better diagnosis and genetics. There is growing evidence that there might be a correlation between environmental exposures to toxins, dietary factors and increased Autism rates, especially with prenatal and early life exposure.
ASD was previously considered purely a developmental disorder impairing communication and social interactions. It is now shown to cause physical factors such as intestinal problems, immune disorders and seizures. The increase in ASD and other developmental disorders are a huge cost to our society. The U.S. spends an average of $126 billion dollars each year on educational and medical services for people with Autism, which does not even include out of pocket expenses of families. Most of the resources devoted to ASD are being used for services and genetic research, and very few are dedicated to prevention through environmental and dietary factors.Read more...
BOSTON—Independent testing commissioned by the Center for Environmental Health (CEH), with support of the Alliance for a Healthy Tomorrow, has released a report on harmful flame retardant chemicals found in children’s chairs, couches and other kids’ furniture purchased from major retailers throughout the U.S. and Canada. A children’s chair purchased from Target in Kingston, Massachusetts was found to contain the toxic flame retardant TCPP. In response, advocates and parents are calling for the Massachusetts legislature to require that companies make safer products.
The products that were found to contain flame retardants were specifically marketed to children with colorful designs and popular children’s characters such as Dora the Explorer and Spiderman. It is well established by fire safety scientists that these chemicals linked to cancer, hormone disruption, infertility and other health problems do not actually prevent fires.


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in this issue
Chemical Week Magazine :: Business & Finance :: Asia/Pacific
China lists chemicals for priority action
March 11, 2013 | —Natasha Alperowicz
C W has obtained the list of chemicals that the Chinese government has targeted for priority action—restriction or tightening of existing legislation or, in extreme cases, possible banning of the products (CW, Feb. 25/March 4, p. 17). The listed chemicals fall into three broad categories: chemicals with accumulative risks; chemicals that in the past have been associated with environmental accidents; and characteristic chemicals, grouped according to “industrial release standard and environmental hazards.” The first subgroup lists 25 chemicals...
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The Chinese electronics giant Xiaomi has launched its latest laptop in the Chinese market and it is called Xiaomi Mi Notebook Air 12.5-inch version, and that comes with several powerful features such as Full HD display, fast SSD storage and much more. So, without wasting time let’s dive into the article to check out the specification, pricing, and availability of the newly unveiled Xiaomi Mi Notebook Air 12.5-inch version.
The device is coming with an amazing design, it sports a thin and light metal unibody design and the display also has a tiny bezels and it gives full HD display along with 1080 pixels resolution. It is powered by 7th gen Intel core i5 processor and it is capable to work with 4 GB of RAM along with 256 GB of internal storage.
The company claims that the laptop will give about 11.5 hours of battery life, which is something impressive. The company has implemented a built-in USB Type-C port and that will allow the device to charge quickly. Speaking about the operating system, the device runs on Windows 10.
Talking about the pricing and availability, it is priced at CNY 3999, which roughly translates to ₹42,000. The company has been announced the actual availability date of the device but it is available for pre-booking in China and there is no information about the availability of the same in the other parts of the world.
Well, for the given price device is really awesome as it comes with sleek and amazing designs and also comes with powerful features as well. It will definitely gonna hit in the market and it will attract the users who are looking for a laptop for their daily routine.


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Yesterday morning, weather apps on phones all over New York City warned people that it was 3 (three!) degrees Fahrenheit outside, with a windchill that dipped things into Absolutely Not degrees. (Things are even worse in parts of the Midwest, which saw lows of -60 degrees.) And still, New Yorkers soldiered on, facing commutes with fellow squashy human sleeping bags, piling on the Uniqlo Heattech, and working from home where possible. The only thing one person did not seem willing to compromise on, it seems, was his iced latte.
There he was, an intrepid soldier, a brave hero, a shining light. Here was a man who knew what he wanted, and also that if he ordered hot coffee during Wednesday’s snowstorm, it would wind up being the temperature of iced coffee in a matter of minutes anyway. Lean into Mother Nature! Meet her where she is instead of halfway!
All of this to say that this is a correct purchase decision. I, too, would order iced coffee in the cold, mostly because my hands have become frozen brittle claws already, so why not? Neither I nor this anonymous hero is alone, either; people immediately replied to the tweet with photos of their own iced coffee in solidarity, and referred to the photo as an emblem of gay culture. (NewNowNext offered a simple explanation: “People are gay, @nycgov.”) They also began tagging friends who would do this, including Josh Gondelman, a comedian and writer for Desus & Mero whose devotion to iced coffee is well known, and Sam Stryker, a former writer and editor for BuzzFeed.
Gondelman told the Cut he prefers to drink iced coffee — yes, even when it’s this cold — because it tastes better, and “there’s a spectrum of like, five degrees that hot coffee is drinkable at. Before then it’s way too hot; afterward, it’s room temperature. He also posits that his Boston upbringing, where iced coffee is “more common,” likely had something to do with the habit: “You’re not out in the elements for as long. You don’t walk as far normally. I drove to work which meant I was always in a climate controlled situation once I got my morning coffee.”
While Gondelman ordered an iced coffee yesterday, he admits that he could be swayed to a hot drink if he’s going to be outside for a longer period of time (he’ll switch to tea, in that case). But he also understands why people find the iced order odd. “Hot coffee is right there, so it seems like a weirdly avoidable thing,” he concedes. “But to me having the beverage I want supersedes the temperature outside, and I work around that.”
One iced-coffee lover who caved to the perils of 3-degree weather was Amanda Mull, a writer at The Atlantic. (She told the Cut it was because she couldn’t find any gloves yesterday morning.) But in general, she supports cold drinks in the cold. “People drink lots of cold things all year, and cold brew tastes way better than hot coffee. I’m not sure why it has a seasonal restriction. I drink seltzer or ice water during the winter, why would the temperature of my coffee need to change?” she posits.
She also grew up in the South, where iced tea is more prevalent than hot. “I think that’s why I find cold coffee — and specifically cold brew, which tastes less like coffee to me — more palatable. It’s closer to my cultural conception of what a good drink is,” she says.
Stryker, who lives in Los Angeles, thinks maybe 50 people sent him the city government’s tweet after it posted. Iced coffee when it’s cold is nothing new to him. “Probably the coldest was when I was in Korea last year for the Olympics,” he said via email. “I think it was probably below 20 degrees, but I was still chugging two a day. It’s not as refreshing as during the summer, but it sort of is like a big fuck you to Mother Nature when you do order.”
As for why he thinks “iced coffee is gay culture” has caught on, he says “It feels like a shared inside joke with all my fellow gays.” Though he says the conceit is “nonsensical” on face value, the @s don’t lie; members of the LGBTQ+ community tag him in their iced coffee selfies daily. “Maybe this is a stretch, but I feel like hot coffee feels so heteronormative and riffing on a love of something different is inherently queer,” he says. “Or maybe it’s not even that deep! All I know is I love iced coffee, and I’m gay.”
All three admitted that yes, optically, drinking something cold when you’re actively trying to stay warm with layers and layers of clothing seems counter-intuitive. But hot coffee actually does a better job of cooling your body down than iced does, because it triggers sweat receptors in your body. Besides, your body itself is so warm that any iced beverage will warm up rather quickly once it hits your insides; it’s just your frozen hand that suffers — and that’s what gloves are for.
And as food scientist Barry Swanson explained to Time, “Foods that contain more fat, protein, and carbohydrates often heat the body up a little bit while digesting food.” While anyone can walk into a coffee shop and customize hot and cold drinks alike with tons of syrup, the ubiquity of the Frappuccino and other cold-weather beverages may have helped normalize turning iced drinks specifically into something more like a milkshake than coffee. “I dump in a bunch of cream and Splenda, no matter what it is,” Mull explains. “The less my coffee can taste like coffee, the better.”
She maintains, overall, that policing people for their food and beverage decisions, no matter the weather, is pretty bad form. Stryker agrees. “I don’t really see iced coffee fans making fun of hot coffee people when it’s the summer,” he points out. “Maybe hot coffee people should make sure their house is in order before coming for us.”


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The FDA said that while most peoples' immune systems can usually fight off the effects of foodborne illness, children, the elderly, and people with weakened immune systems risk serious illnesses or even death from drinking untreated juices.
That is because when fruit and vegetables are juiced, bacteria from the produce can become a part of the finished product.
Unpasteurized, or otherwise untreated juices, sold in grocery stores are required to carry warning labels for consumers, stating: "This product has not been pasteurized and therefore may contain harmful bacteria that can cause serious illness in children, the elderly, and persons with weakened immune systems."
However, with consumers choosing to drink ever more juice as a healthier alternative to fizzy sodas, the FDA is concerned that more people may be putting themselves at risk.
"The FDA does not require warning labels for juices that are fresh-squeezed and sold by the glass, such as at farmers markets, at roadside stands, or in some juice bars," it says.
Food and drinks producers and distributors face inevitable fines if any outbreak of food poisoning can be traced back to their products.
The FDA last October published the final 2004 Produce Safety Action Plan aimed at minimizing the number of foodborne illnesses that are contracted each year through the consumption of fresh produce.
The Center for Disease Control and Prevention (CDC) estimates that in the US each year, 76 million people become sick, more than 325,000 people are hospitalized, and 5,000 people die from foodborne illness.
It also says that at least 12 percent of foodborne-outbreak-associated illnesses in the 1990s were linked to fresh produce.
Outbreaks elsewhere in the world back up this theory. In 1999, unpasteurized orange juice was responsible for a food poisoning outbreak in South Australia affecting more than 500 people.
Consuming dangerous foodborne bacteria will usually cause illness in one to three days after eating the contaminated food, though can cause sickness anywhere between 20 minutes or up to six weeks later.


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kscarbel2 Posted July 9, 2019 Share Posted July 9, 2019 Commercial Carrier Journal (CCJ) / July 3, 2019 North American Class 8 truck orders climbed 24-percent from May, reaching 13,000 units according to preliminary data released this week by FTR. With most orders for 2019 already on the books, 2019 is off to the weakest six-month start to a year since 2010. Don Ake, FTR vice president of commercial vehicles, said fleets are moving around previously placed orders and adjusting delivery times according to business conditions, while smaller fleets and dealers are placing small fill-in orders as production slots become available. “The orders are truly a mixed bag. One OEM reportedly started to take orders for 2020, but the other OEMs apparently did not,” he added. “Without the 2020 orders, the total would have dipped below the 10,000 unit mark. Most OEMs are reluctant to quote future trucks due to uncertainty over material costs.” Ake said until the tariff situation is resolved, OEMs see quoting builds for 2020 as “risky.” “Fleets are also reluctant to accept material surcharges with this much ambiguity present,” he said. Backlogs are expected fall under 200,000 units for first time since May 2018. Class 8 orders for the past 12 months now total 331,000 units. “The economy and freight are still growing, but the latest manufacturing data is not promising,” Ake said. “The consumer sector is sturdy, but freight growth is expected to moderate the rest of the year. As a result, Class 8 truck build rates should begin to decrease in the coming months.” Quote Link to comment Share on other sites More sharing options...
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A new treat is coming to Regal Cinemas and people are pretty excited about it.
Regal Cinemas announced in a press release that it is debuting Cheetos Popcorn on December 15 at participating theaters nationwide.
According to the press release, Cheetos Popcorn is available in 32 oz. cups and features "light, airy Regal popcorn that has been puffed to perfection and paired with warm, cheesy Cheetos flavor and Crunchy Cheetos to create the perfect cinema snack."… More


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By Staff writer
Abu Dhabi-based Agthia Group acquires 100% of water business of Delta Marketing Company
Agthia Group, the Abu Dhabi-based food and beverage company, has announced the acquisition of the water business of Saudi-based Delta Marketing Company.
The completion of the deal follows the signing of a share purchase agreement to acquire a 100 percent stake in November, state news agency WAM reported.
Agthia Group in January reported a net profit of AED254.3 million ($69.2 million) for 2016, up 10 percent on the previous year. Net revenues grew 8 percent to AED2.01 billion, led by the group’s flagship water business.
Commenting on the acquisition, Agthia chairman, Dhafer Ayed Al Ahbabi, said: "Taking ownership of Al Ain Water’s production in Saudi Arabia, the GCC’s largest consumer market, represents a significant milestone in Agthia’s regional growth.
"The acquisition provides Agthia with the facilities, network and talent that will allow us to grow Al Ain brand across the Saudi Arabian market.
"Over the coming years, Agthia plans to expand its operations in Saudi Arabia, leveraging its operational and industry expertise to develop a thriving water business as part of our commitment to deliver sustainable growth for our shareholders."
Tariq Al Wahedi, acting CEO of Agthia, added: "Regional expansion, especially in our water business, is a core part of our strategy. The ability to produce and distribute Al Ain Water in the GCC’s largest consumer market will further strengthen our position as a leading food and beverage group in the region."
Hassan Alireza, managing director of Delta Marketing Company, said: "We are pleased to close this transaction with Agthia, a company that can build upon our 30 years of history and continue to provide our customers and consumers with the best products.
"Finding a trusted partner to pursue these objectives and to take the business to its next level of growth and development was a priority. This transaction will offer genuine opportunities to the employees and provide them with the prospect of working for one of the GCC’s leading companies."


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All Blacks fans have the chance to win a corporate box to watch their team play France in the Rugby World Cup Final rematch at Eden Park on June 8 – but there’s a catch.
The curtains of the corporate box are connected to the ‘Rexona Treadmill of Devotion’, so, almost like the sporting equivalent of Speed, someone will need to be powering the treadmill at all times to keep them open for the full 80 minutes. And there's another catch: the treadmill runs at pre-determined speeds set by Israel Dagg, Keven Mealamu, Beauden Barrett and Sam Whitelock.
The TVCs, which were shot by Greg Page of Flying Fish, show the All Blacks trying out the custom-designed treadmill made from Rexona cans and the campaign (dreamt up by Naked Communications) also includes PR, online advertising and a purchase-to-enter Facebook promotion (that also farms a few extra likes).
"For All Black fans, watching their team play from the hallowed corporate box is the ultimate prize," says Simon Veksner, head of ideas at Naked Communications, which, slightly ironically given it's working with the national team, has recently decided to chuck in the towel on the New Zealand market. "Our challenge was to change fans’ behaviour to get them to do more. The winners of the Rexona Treadmill of Devotion aren’t simply handed the prize on a silver platter; they have to work hard for it.”
Rexona has been sponsoring the All Blacks for five years, so Ian Bell, deodorants marketing director for Unilever ANZ, says it wanted to create a campaign that would bring New Zealanders closer to their team and give them the confidence to achieve more.
"As soon as we saw the All Blacks players excited by the treadmill we knew we had something that the rest of New Zealand would get behind."
As well as trying to inspire entrants to get active during the game, it's also promoting more activity in general as part of its Do More brand platform, with a promotion by Spark being run in conjunction with TVNZ's Breakfast.
The Breakfast TV “Doing More with Rexona” partnership included live crosses to Eden Park where weatherman Sam Wallace tested his treadmill skills against All Black Sam Cane and other fitness pros. The treadmill also made it to TVNZ’s studio, where presenter Rawdon Christie gave it a go, and prizes to test matches were up for grabs throughout the week-long partnership.
Hopefully C&C Music Factory's classic club banger 'Gonna Make you Sweat' will be on repeat during the test match. And hopefully the follow-up to this campaign will involve a slightly more difficult treadmill-based challenge.
This story originally appeared on StopPress
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Dreams really do come true
HEATHER BACSICK/SPECIAL TO THE TIMES NEWS
The fourth annual Prom and Wedding Dress Sale, held Tuesday at Penn's Peak raised $3,559. All the proceeds from the sale will go to the Blue Ridge Chapter of Dream Come True, an organization that grants wishes for seriously ill children.
Last year's sale raised over $2,000, while the year before raised over $3,000. Julianne Farina, marketing and public relations coordinator for Blue Ridge Communications and an organizer of the annual dress sale, stated that her goal for this year was to surpass both those totals and hit $3,500.
Farina was happy to say they met their goal and surpassed it.
"I feel awesome! We had a great turnout," said Farina. "It's a great feeling seeing people come out and support the cause."
Prom dresses were sold at $10, $20, or $30. Wedding dresses were sold at $50. Shoes were sold at $10 and other accessories, like purses, were sold at $5.
Farina said that this sale gives girls in the area the chance to buy a nice dress for a bargain price, while also helping out Dream Come True.
Michelle Patiri of Albrightsville came out to buy a dress for her prom.
"I heard the sale had affordable dresses and thought it was great that the sale benefits a good cause," said Patiri.
There were between 600 and 700 dresses available for sale and all of the dresses and accessories were donated by people in the community.
"The community has been awesome. Without them and their donations, we wouldn't have all these dresses," stated Farina.
Before the doors opened at 4 p.m. over a hundred people lined up in Penn's Peak waiting to shop. Throughout the sale the dress racks were constantly surrounded by girls looking for that perfect dress.
"The turnout was great. We had hundreds of people attend the sale," said Farina. "It's such a special thing. It's a lot of work but it's so worth it."


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My favourite rumour of the day comes courtesy of WWD, which suggests that ex-Burberry CFO Stacey Cartwright, beloved of the City and regarded as a key player in that brand’s financial success, may find a new C-suite seat as CEO of UK department store Harvey Nichols. Current CEO Joseph Wan, who has been running the store for over a decade, “denied an appointment had been made.” Which doesn’t mean one isn’t coming. So let’s play my favourite game for a moment: “What if…?” Read more
Anya Hindmarch is going to be late. I know this because her office emailed me twice on the day of our dinner to alert me to the probability; she is coming from a meeting with Bergdorf Goodman on 57th Street and we are eating downtown and, well … traffic.
Does anyone think just taking a picture of a celebrity in your stuff – or taking a picture of a celebrity in your stuff and making a video of the picture-taking – or even taking a picture of an artisan making your stuff, is enough to convince today’s super-suspicious-of-all-marketing consumer of the integrity of a brand? Burberry clears doesn’t think so, and their just unveiled Autumn/Winter campaign is their response. It’s multi-layered! It’s referential! It has history! It has retail! It goes way beyond the usual. Is it a harbinger of what’s coming? Probably.
Interesting news today that fursales are at “a record high”, especially in the Far East: Korea, China and so on. So does this mean the animal rights folks have lost? They certainly haven’t ceded the cause – they still pop up on occasion in front of a show (Prada, last season) or a store (Burberry), but I think it has proved more complicated than they ever anticipated. Because they aren’t just fighting a basic totem of luxury, and an industry that is increasingly getting out in front of the issue (see the Origin Assured initiative), but the whole problem of seasonality: the end of.
In a few hours (4pm UK time) Burberry will take to the runway at London Fashion Week (that’s chief creative officer Christopher Bailey with Samantha Cameron at the opening reception for LFW, left), and viewers will take to their smart phones not just to watch the show, which is being streamed on pretty much every part of social media you can imagine, but to order coats and bags… with their names on them! They will arrive on their doorstep in nine weeks, which is much earlier than in stores. Not only that: they will also be able to access video of their product being made, just for them. The knees go weak.
Ok, so that sarcasm was maybe a bit uncalled for. On one level I think offering videos of the customised product is a very smart thing. It pulls customers into the process, which provides an increased sense of ownership and also underscores the hand-made side of things, partly justifying the price and categorisation of Burberry as a luxury brand. But on another, this feels a little smoke and mirrors to me. Read more
What’s up with Oscar de la Renta? The man is creating news – and potential controversy – right and left. After paving the way for John Galliano’s return to fashion, a move that was both welcomed and castigated by the fashion set (depending on who you asked), today Mr de la Renta, America’s pre-eminent couturier of uptown society thanks to his way with a gown (see actress Jennifer Garner, pictured), announced he was creating a collection for The Outnet, Net-a-porter’s cut-price platform, that will be more “accessible” than his normal line. Effectively, he is remaking old patterns in old fabric and pricing down. The way the company puts it is, to paraphrase, along the lines of “taking out the originality mark-up”.
Actually, this is interesting for a more macro reason than linguistic gymnastics. Mr de la Renta’s move, combined with the recent launch by Barneys NY of its own stand-along cut-price web site, barneyswarehouse.com, to sell end-of-season merch, effectively creates a luxury strategy face-off over the issue of outlets: good or bad? Seems to me we are heading towards stilettos at dawn. Read more
I did a Lunch with the FT with Burberry’s chief creative officer, Christopher Bailey, (looking snazzy, left), which is running tomorrow, and in our long – and fun – conversation, the thing that struck me most was the revelation that he limits his technology interaction largely to his professional life. Yup: no Facebook, no Twitter. It’s a work-only thing.
Why is this interesting? Well, because Mr Bailey has been a driving force behind Burberry, which is streaming its men’s show tomorrow on numerous social media platforms from Europe to China, becoming the number one high-end fashion company in the digital space.
And the Burberry flagship on Regent Street was revamped, under Mr Bailey’s direction, with an astonishing number of screens that can do such things as show you how your trench coat would look in the rain. Read more
It struck me, looking at the upcoming Givenchy ad campaign, which features FoR (friends of Riccardo – -Tisci, the brand’s creative director) Mariacarla Boscana, artist Marina Abromovic and matador Jose Maria Manzanares, that one of the biggest fashion trends of recent years has been the selling of a quasi-family-reality – but more fabulous and famous, natch, than any of our real families. This seems to be reaching critical mass, and I rather expect it will continue next year. Why?
Two interesting announcements this morning, both of which are worth examining: First Labelux announces instead of embracing (and chasing) hard luxury, it is exiting the segment to focus entirely on leathergoods; then Mulberry rejects the outlet model to take its bags and other products further up-market. The moves are complementary, in the context of general industry strategy. They both indicate that in the highly competitive world of leathergoods, current theory says it’s the most special, elaborate, highly worked pieces that sell.
What is on-line fashion week? It is the UK-equivalent of Cyber Monday (which is today!): five days of super-special offers and special brand titbits organised by British Vogue to prompt holiday shopping, albeit with a charitable component (a percentage of sakes goes to the Oxfam Girls Education Project, the “official” charity partner) and a branded gloss. In other words, it doesn’t actually have much to do with fashion weeks as we know them at all, though the name is catchy. Even more notably, however, this year, which is its second year, for the first time on-line fashion week will be sponsored by…Amazon! That’s what made little old me sit up and take notice.


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Russian car battery manufacturers have filed a complaint with business ombudsman Boris Titov about the procedure for calculating customs duties for battery components, socialbites.ca learned.
The reason for the objection of the heads of many battery factories was the 6.5% customs duty on the battery separators purchased by the manufacturers from abroad. These high molecular weight polyethylene products pack the battery plates before they are inserted into the case – separating the positive and negative electrodes to prevent short circuits.
Battery manufacturers have been complaining about what they believe has been misclassified battery components by customs authorities. In particular, the dispute over the classification of separators between Yelabuga Battery Factory and Volga Elektronik Customs has been going on in arbitration courts since 2020. The factory declares the billets in rolls coming from abroad as separators that are not subject to customs duty, and customs officials repeatedly classify them as “porous tape made of other plastics”, and 6.5% is required for imports. your mission.
Arbitration courts sided with the battery manufacturer in 17 cases in 2020 and 2021. However, in April 2022, the Arbitration Court of the Volga-Vyatka Region sided with customs in a similar situation. With the expectation that this case will be heard in the Supreme Court, the battery manufacturer applied to the commissioner to protect the rights of entrepreneurs.
“Such a contradictory and unfair approach will inevitably entail an unreasonable additional financial burden on all domestic battery manufacturers and cause an increase in the cost of the domestic final product.”
– stated in a letter to Titov, signed by the director of the Elabuga Battery Plant Marat Baikiev (socialbites.ca has a copy).
As for separators, the Russian battery industry is currently completely dependent on imports, the domestic industry does not produce them, the letter states.
“This is a problem for the entire battery industry. Currently, all facilities purchase this raw material component from abroad. Many factories are protesting this decision and are suing,” he said.
Marat Baikiev told socialbites.ca. We have no explanation for why the classification has changed. Manufacturers should buy them because they get them at zero.”
Business Ombudsman Boris Titov explained to socialbites.ca that objections to the classification of these components by customs authorities were signed by the heads of several battery factories – Aktekh Energy Trading from Yelabuga, Kursk, Irkutsk, Akom group of companies from Togliatti and a number of others and all Within the industry, the additional costs of factories to pay taxes will be tens and hundreds of millions of rubles.
The Ministry of Industry and Trade informed socialbites.ca that at the moment in Russia the production of disconnectors for starter and traction batteries is carried out by Tyumen Battery Plant JSC.
“The introduction of customs duties not only increases the final cost of products, but also encourages battery manufacturers to deepen localization.”
– said in the press service of the ministry “Gazeta.ru”.
The Ministry of Industry and Trade added that customs duties were imposed on imports of foreign batteries to support Russian manufacturers, and battery factories also have the right to apply for government subsidies for research and development (R&D) and preferential loan co-financing. in projects for import substitution
socialbites.ca contacted the press service of the Federal Customs Service with questions about the specifics of the classification of battery components, but at the time of publication the editors did not receive a response.
An industry source said imported separators aren’t the only problem. The cost of batteries is also affected by the prices of the main raw materials for their manufacture and the increased costs of manufacturers due to more complex logistics.
“In addition to the separators, there were components purchased abroad, but their share is not as significant as lead, which makes up 70% of the battery,” explains the source of socialbites.ca. “It is also necessary to take into account that the cost of logistics increases for all imported goods.”
He added that if a new procedure is introduced for the centralized disposal of batteries as hazardous waste, as well as the depreciation of the ruble, their price may rise in the near future.
Marina Beloglyadova, marketer at Auto3N (who sells auto parts), says that despite the general increase in auto parts prices, the prices of batteries have not risen much, but the market is redistribution in favor of brands that were not previously in demand. ).
“Despite the price increase in the auto spare parts market, battery brands are not ready to give up.
At the same time, previously little-known brands are also beginning to be in demand in the market,” he said.
Sergey Burgazliev, an independent automotive industry consultant, says there are always disputes between companies and customs authorities over the classification of automobile components, and when it comes to small parts, courts more often take the side of the state.
“A tax of 6.5% is relatively low, plus components such as separators can be localized in Russia.
The same Sibur and other chemical conglomerates certainly have the competency for this,” he said.


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Your 3DS is getting one last "Etrian Odyssey" game.
Atlus continues its weekly streak of uploading class trailers for “Etrian Odyssey V: Beyond the Myth” by showcasing the Harbinger class this week.
After not posting a class trailer last week, Atlus made up for the gap by posting two class trailers for their upcoming 3DS game, “Etrian Odyssey V: Beyond the Myth.”
One of the curious-looking titles from the Summer 2017 Nindie Showcase is “Mom Hid My Game!,” coming to Switch and 3DS this winter.
The Lord of Pridemoor Keep is finally getting his game sometime next year when “Shovel Knight: King of Cards” releases on various systems.
Also announced at GameStop Expo in Las Vegas is the Veteran Trainer’s Dual Pack for “Pokemon Ultra Sun” and “Ultra Moon.”
Atlus’ beloved 3DS title “Etrian Odyssey V: Beyond the Myth” is adding another class in its growing roster: the botanist class.


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You Searched For "Toyota Tsusho Corporation"
Kenyan logistics startup Sendy secures $20 mn Series B led by Atlantica Ventures
Kenyan company Sendy, an on-demand platform that connects clients to drivers and vehicles for goods delivery, has raised a $20 million Series B led by...
Bollore Ports consortium to invest $150 mn for auto sector in Egypt
On December 19, 2019, the consortium composed of Bolloré Ports, Toyota Tsusho Corporation and Yusen Kabushiki Kaisha signed a concession agreement.


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The Largest Breach of 2017
Equifax, a provider of consumer credit scores, was a confirmed victim of a data breach this quarter. The incident resulted in 145.5 million customer files being compromised. Making this one of the biggest breaches in U.S. history, and the largest breach reported in 2017.
The hackers were infiltrating the company’s systems from May to July of this year. The consumer data compromised includes names, social security numbers, and in some instances, the customer’s driver’s license number. Hackers also obtained credit card information for 209,000 customers. Beyond U.S. customers, certain individuals located in Canada and the U.K. were also impacted.
Equifax reported they are working to notify all impacted through mail correspondence. The company has contracted credit monitoring services with TrustID; however, customers continue to report a lack of response from TrustID after attempting to sign up.
The company learned of the breach on July 29th, and has been working with a cyber security firm to conduct a thorough investigation.
Since the breach, Equifax’s CIO, CSO, and CEO have retired. Prior to his departure, Equifax’s CEO, Richard Smith made the following statement to Bloomberg,
“This is clearly a disappointing event for our company, and one that strikes at the heart of who we are and what we do. I apologize to consumers and our business customers for the concern and frustration this causes.”
To view the Q3 PC Pitstop newsletter in its entirety, click here.


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My read of recent RBA communication, particularly RBA Ellis’s speech on the household sector earlier this week, is that the Bank is worried about a consumption slowdown that bleeds into the rest of the economy.
It is therefore through that lens that today’s ABS job vacancies report should be viewed. For while aggregate job vacancy growth has been decent, the split between the consumption sectors (retail, wholesale, accommodation and food services & rental / real estate) and the non-consumption sectors shows the problem.
Job vacancies in the consumption sector are down ~5% yoy, with the down-trend pretty clearly in place. To my eye this matches the housing slowdown pretty well (though the RBA has been resisting that commonsense conclusion).
Job vacancies in the rest of the sectors are growing very strongly (+14%y/y).
The RBA’s worry is that consumption slows and that slower consumption causes the unemployment rate to rise, and further weighs on the inflation outlook. The vacancy data suggests that worry is well founded.
Here’s Ellis from Tuesday’s speech:
“Household consumption spending is a large part of economic activity. A significant retrenchment there would lower growth and feed back into a weaker labour market, as well as into decisions to purchase housing.”