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ALDI announced earlier this week that it had expanded the availability of Instacart after successful pilot programs in four US cities (Atlanta, Dallas, Los Angeles, and Chicago). ALDI products via Instacart will be available to 75 markets across 35 states by Thanksgiving, according to the company.
“Our partnership with Instacart and the expansion of our e-commerce options are more ways we are meeting the growing needs of today’s shopper, who wants high-quality food at unbeatable prices,” Jason Hart, CEO of ALDI US, said.
Many of the major retailers in the US such as Walmart, Kroger, and Target have invested heavily in providing streamlined online grocery service for customers including home delivery and ‘click and collect’ options.
“The US online grocery arms race is accelerating. Amazon’s purchase of Whole Foods last year likely pushed more traditional grocery players, like ALDI, more firmly into the arms of Instacart,” O’Leary said.
“Despite its well documented moves in grocery, this competitive landscape should not be viewed as Amazon versus everyone else. The investments made by Walmart, Kroger, Target, and others in curbside pickup and home delivery have also raised the competitive stakes for all US grocery players.”
How Instacart works:
Shopping at ALDI with Instacart is just as easy as shopping in a physical ALDI store, the retailers claims. Customers fill their virtual carts by visiting Instacart.com/aldi or downloading the Instacart app. At checkout, customers can choose a delivery window — anywhere from an hour or up to a week later — that works best with their schedule, and an independent contractor employed by Instacart picks and delivers their order.
How do customers feel about online grocery shopping?
While more and more grocery retailers are offering e-commerce options, how are consumers – including ALDI’s monthly reach of 40 million shoppers – taking to the online grocery shopping experience?
According to a recent survey by Mintel, while consumers are acclimating to the habit of buying groceries online, a majority (78%) are wary of the freshness of certain items (produce, meat, poultry and/or fish).
“Americans are exercising caution when shopping online as they believe that purchasing in store is the most trustworthy way to determine the safety, quality and/or freshness of the items they buy,” Mintel senior e-commerce analyst Matt Lindner said.
“As a result, retailers have to go above and beyond in terms of offering more product information and anticipating any potential concerns from shoppers.”
Despite some hesitancy with purchasing certain fresh items online, more than half (56%) of American shoppers said they are more likely to look for deals online versus making a trip to a physical store.
Retailers should emphasize the cost and time savings of using its online platforms to customers, according to Lindner.
For ALDI, the uptake of Instacart users has been very positive as customers have access to a wide variety of grocery items such as fresh groceries including organic produce, antibiotic-free meat and fresh seafood available for delivery in as little as one hour.
And a sizeable portion of ALDI online shoppers are purchasing fresh items using Instacart, an ALDI spokesperson told FoodNavigator-USA.
“Forty percent of our Instacart orders are fresh products, including produce, dairy, eggs, meat and seafood,” the spokesperson said.
The private label retailer added that it would continue to explore adding more convenient grocery options to its customers as part of its $5.3bn investment into the remodel and expansion of its US stores by the end of 2022.
“E-commerce is projected to grow over the next decade due to consumer demand, and we’re evolving to grow with it via our continued partnership with Instacart. Instacart offers the added convenience we know shoppers want, while maintaining our ability to provide high-quality groceries at low prices,” the ALDI spokesperson added.
SPECIAL FEATURE: ‘Who shops at ALDI? You, me, anyone who eats food…’
Consumers are tired of cavernous stores with “90 different jars of pasta sauce,” said Tom Cindel, director of operations at ALDI’s Moreno Valley, CA, division, pointing to a shelf at the recently opened store in Monrovia, CA. “We just buy this one, it’s the same quality or superior to any leading national brand, and we buy a heck of a lot of it.” Read more HERE.


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The sceptics were out in force after retail start-up Honestbee endured a fortnight of bad press and a change in leadership, but analysts reckon the company can bounce back.
The pioneering firm has been at the forefront of disrupting the grocery retail sector since 2015 and has built a significant presence here and overseas.
Its online service allows shoppers to order groceries and arrange for delivery at a stipulated time, which can be on the same day.
The firm also opened Singapore's first cashless and automated supermarket - called habitat - in October last year.
But what seemed like a smooth upward trajectory came unstuck on May 2 when co-founder and chief executive Joel Sng resigned from the start-up.
It also said on April 30 that it was suspending some of its overseas operations and laying off up to 10 per cent of its global staff as part of an ongoing strategic review.
It will stop services in Hong Kong and Indonesia and its food business in Thailand. The start-up will also suspend services in Japan and the Philippines.
Speculations about the company's poor financials were rife before Honestbee announced the changes.
Earlier media reports stated that Honestbee was looking for a buyer because its funds were running low. The candidates included ride-hailing companies Grab and Gojek.
The Taipei Times reported on May 3 that more than 200 suppliers and restaurant owners had banded together to press Honestbee to pay them their dues. Some creditors were allegedly owed more than NT$300,000 (S$13,200).
The ship was steadied somewhat on May 2 when the firm announced that Mr Brian Koo, whose family controls electronics giant LG, had taken over as Honestbee chief executive.
The change at the top is an ideal opportunity for a reset, say analysts, who believe that Honestbee needs to focus on what it does best and re-assess its expansion strategy to stay competitive in what has become an increasingly crowded playing field. It also needs to pay extra attention to its financials and overseas ventures.
ESSEC Business School Associate Professor Jan Ondrus said: "Competition is fierce in the online space in Singapore. Stretching scarce resources to compete on many fronts is a risky bet."
Experts point to habitat as a way to grow profits.
National University of Singapore Associate Professor Lawrence Loh said that habitat had transformed the concept of grocery shopping here. Trive managing partner Christopher Quek said that Honestbee, and its rival RedMart, had also encouraged supermarkets such as Giant, Cold Storage and NTUC FairPrice to up their delivery services game. RedMart was bought by Alibaba-backed Lazada in 2016.
Prof Loh noted: "Grocery shopping is no longer a stop on the way home or a chore... Habitat is a destination for grocery shoppers who also want to enjoy a meal."
Shoppers can also get free delivery provided they spend a minimum sum, so they do not need to lug groceries to their car or home, added Prof Loh, who is also director of the Centre for Governance, Institutions and Organisations. "Grocery shopping has become very enjoyable and convenient."
Bosses at Honestbee told employees at a town hall meeting last month that habitat was profitable. The company is not obliged to disclose its financials as it is not a publicly listed company.
Mr Quek said habitat, which stocks 20,000 products across its 60,000 sq ft premises, could take hold here.
He noted how sporting goods retailer Decathlon expanded by building its online presence and having a strong logistics network, despite its remote outlet in Joo Koon. "The hybrid brick-and-click model has shown itself to be successful... rather than a pure online delivery service."
Honestbee needs to get its financial house in order first, but little is known about this aspect except that it raised US$15 million (S$20.4 million) in Series A funding led by investment firm Formation 8, where Mr Koo was a founding member.
Honestbee's new chief of staff, Mr Varian Lim, told a panel discussion last month that the start-up was under pressure from investors to expand quickly in its early years. Its former CEO, Mr Sng, had told The Business Times last year that Honestbee had plans to launch habitat in Japan, Thailand, the Philippines, Malaysia, Indonesia and Hong Kong.
Prof Ondrus said: "The new management team should assess the current business model, keep what makes sense and remove the extras. They might want to go leaner... to be more viable."
Singapore Polytechnic marketing and retail lecturer Lucas Tok said that Honestbee was under incessant pressure to diversify and expand "at a rate that causes the burn rate to trigger an inherent crisis... Honestbee's expansion into eight markets... is too fast".
Mr Quek said investors are concerned about "viable business rations rather than just growth for growth's sake".
"Start-ups have a high chance of failure, especially the ones in the marketplace that do not have a dominant strategy or the luxury of a war chest. It is highly important to conserve cash and not burn excessively just to focus on growth."

domain: news


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AUGUSTA, Maine — Walmart has agreed to change its national policy for reassigning disabled workers to settle a lawsuit brought by the U.S. Equal Employment Opportunity Commission in Maine.
The settlement requires Walmart to offer disabled workers a vacant position in up to five nearby stores instead of just an employee’s current location. Walmart also agreed to pay $80,000 to a worker who was not offered the opportunity to transfer to another store.
The lawsuit, in federal court in Bangor, was filed on behalf of a longtime worker who developed a disability that prevented her from continuing her job as a sales associate.
Walmart determined that the only positions that were suitable for her were as a greeter or fitting room associate. Such jobs were available at Walmart stores in Waterville and Thomaston, but not at the worker’s store in Augusta. She parted ways with the retailer in 2014.
The lawsuit contended Walmart violated the Americans With Disabilities Act by declining to offer jobs at other locations.
“Federal law requires employers to reassign employees with a disability to vacant positions as the reasonable accommodation of last resort,” Jeffrey Burstein, regional attorney for the EEOC’s district office in New York, said in a statement.
Walmart didn’t acknowledged wrongdoing under a consent decree, signed by a federal judge on Wednesday, but did agree to changes its practices.
Walmart spokesman Randy Hargrove said Saturday that a change of policy was already in the works and was being tested through a pilot program before the settlement was announced late Friday. The new policy will be rolled out to Walmart stores nationwide in February, he said.
“We don’t tolerate discrimination of any kind,” he said. “We have thousands of associates who perform their jobs with reasonable accommodations. That includes job reassignments.”
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If you decided to go back to the first 1990s, there are fewer than 500 payday-loan storage
FULMER: in the event that you associate the price of having to pay the book to your regional landlords, paying our light costs and electric fees, spending our very own various other fees to neighborhood stores who provide treatments to united states, we work on a relatively thin margin.
Fulmer says that payday-loan rates are not nearly since predatory while they manage, for just two reasons. Initial: when you listen a€?400 percent on an annualized foundation,a€? you might think that people tend to be borrowing the funds for a-year. But these loans are made to feel used for just a few weeks, unless, naturally, they see rolling over a https://paydayloan4less.com/payday-loans-pa/norristown/ number of occasions. For each and every $100 borrowed, Fulmer states, the lender will get about $15 in charge. Therefore, capping the interest rate at an annualized 36 percent just won’t function.
FULMER: it could do the $15 plus it would make that fee $1.38 per $100 lent. That is around 7.5 dollars per day. The York period can not promote a newspaper for 7.5 cents everyday. And for some reason we are expected to be supplying unsecured, reasonably, $100 loans for a two-week years for 7.5 dollars just about every day. It simply doesn’t create economical good sense.
And, reasons number 2: because payday advances are very little – an average loan means $375- the charge have to be relatively large to make it valuable when it comes to lender
Fulmer’s firm, Advance The usa, operates about 2,400 payday loan retailers, across 29 states. All-in, you can find about 20,000 payday stores for the U.S., with total loan amount calculated at around $40 billion annually. But the markets grew as much reports calm their unique usury regulations – lots of says, yet not all. Payday credit is actually prohibited in 14 shows, including most of the northeast plus in Arizona, D.C. Another nine reports enable pay day loans but just with most borrower-friendly terms and conditions. And that makes 27 states in which payday loan providers can charge inside location of 400 percent interest – says which range from Ca to Colorado to Wisconsin to Alabama, that’s just what received chairman Obama truth be told there.
OBAMA: within Alabama, there are 4 times as much payday lending stores as there is McDonald’s. Remember that, since there are many McDonald’s.
OBAMA: In case you are creating that gain trapping hard-working People in america into a vicious loop of personal debt, you have got to pick a new business model. You’ve got to find a new way to do companies.
The CFPB doesn’t have the power to restrict rates. Congress really does. So what the CFPB are asking for usually payday lenders either even more completely evaluate a debtor’s financial visibility or reduce number of rollovers on financing, and gives smoother payment conditions. Payday loan providers state also these regulations may indeed over put them bankrupt – plus they is right. The CFPB estimates your newer laws could lower the total amount of short-term financing, such as pay day loans but other types nicely, by around sixty percent.
FULMER: we will need to wait for final offer formula ahead aside. But in which they look like supposed is actually down a road that would just overcome a product or service rather than reforming the or better regulating a.
The payday sector, and a few political allies, disagree the CFPB is trying to reject credit score rating to people who actually need they. Today, it most likely cannot amaze your that payday sector does not want this kind of authorities legislation. Nor should it wonder you that a government agency known as customers Financial safeguards agency is wanting to regulate a business just like the payday industry.


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Bilyonaryo Robina Gokongwei Pe, who heads the family’s retail arm Robinsons Retail Holdings Inc., appeared in a rare Tiktok video that delighted many.
Not only was she present in the video, she also danced. She was with Nina Ellaine Dizon-Cabrera, the founder of Niv Della Beauty Innovations.
The Tiktok post started with a question, “What’s your favorite position?”
To which they both answered, “CEO.”
Oh, the power these women have! And hopefully they inspire others to take control of their lives.


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Some domestic business news now: good and bad news for the company Tesla. First, the bad – the company had its biggest quarterly loss – more than $700 million. The good – Tesla says it's on track to meet production goals for its new mass-market car, the Model 3.
In Venezuela, there has been a severe economic crisis. Hyperinflation has been a big part of the problem there. Prices skyrocket, and then people can't afford food or medicine. President Nicolas Maduro has proposed a solution here. It is a state-sponsored cryptocurrency – right? – like bitcoin, but this currency is called the petro.


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BMW: All-electric iX3 will be a China-built SUV, to be exported worldwide
According to a recent confirmation by German automaker BMW, the company’s new forthcoming all-electric iX3 SUV, which was unveiled earlier in 2018, will be a China-manufactured vehicle that will be exported to other markets.
The disclosure related to the production of the iX3 was made recently by Harald Kruger -- Chairman of the Board of Management of BMW AG -- in coincidence with the automaker’s expansion of the joint venture called BMW Brilliance Automotive (BBA) in China.
Confirming that BBA will produce the all-electric BMW iX3 “from 2020,” Kruger said that the vehicle “will find customers around the world.” He also added that the BBA expansion move will potentially take the joint venture “beyond our existing motto – in China, for China.”
Along with revealing that the iX3 SUV will be a China-produced vehicle, BMW has also shared some details about its June-announced battery supply contract with Chinese battery-cell manufacturer CATL. The contract will essentially ensure the supply of batteries for BMW’s future electric vehicles.
As per the information shared by BMW, the value of its battery supply contract with CATL will be more than one billion Euros ($1.16 billion). Moreover, reports have revealed that, as a part of the contract, CATL will also build a new factory in Europe, most likely in Germany.
California-based electric vehicle manufacturer Tesla Motors has released some hitherto-unknown information about its newest generation of battery cells -- the 2170 li-ion cells -- which have been designed for the company’s Model 3 electric vehicle
According to a recent EV magazine Electrek’s report, General Motors (GM) is bringing some new updates to its sole all-electric vehicle, the Chevy Bolt EV, with the forthcoming release of the vehicle’s third model year.
In a Friday statement made at the Tokyo headquarters of Subaru Corporation, CEO Yasuyuki Yoshinaga said that the Japanese automaker is looking to venture into the electric-vehicle (EV) market by launching electric versions of its existing models.
With the 2019 Chevy Volt PHEV scheduled for availability this fall, General Motors (GM) has recently announced an upgrade to the vehicle, in order to bring some new features on board.
In response to an apparent suggestion in recently leaked reports that a wider ban on sales of non-electric cars is being proposed in the UK, environmentalists have said that the proposed ban is ‘not ambitious enough.’
According to a recent confirmation by German automaker Audi, the e-tron quattro all-electric SUV -- the company’s “first all-electric Audi e-tron” -- is scheduled to make its international debut in the US on September 17, 2018.


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JBL Synthesis Debuts Equalizer
HARMAN’s JBL Synthesis has announced the debut of its SDEC3500 Equalizer. The product is meant to work with the JBL Synthesis SDP-25 Surround Processor and SDA-7200 Multichannel Amplifier.
“Our new SDEC3500 incorporates the industry’s most advanced room-correction and system-tuning capabilities at a new price/performance benchmark for a JBL Synthesis equalizer,” Jim Garrett, Director of Marketing and Product Management, HARMAN Luxury Audio Group, said in a statement.
“With the SDEC3500 now available to complement the SDP-25 preamp/processor and SDA-7200 amplifier, custom installation specialists and system integrators can now offer a complete home cinema system that delivers ultrahigh-end JBL Synthesis performance and flexibility from an attractively priced, perfectly matched set of components.”


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Martindale-Hubbell Collaborates with Users on Redesign of martindale.com Web Site
New Site Navigation and Design Enables More Productive Use of the World's Premier Online Legal Network
NEW YORK, NY - June 29, 2010 - LexisNexis® Martindale-Hubbell®, the industry leader in networking and law firm marketing, today announced its redesigned martindale.com® Web site, the world's premier online legal network. Created through a collaborative process with martindale.com users and other legal professionals, the new site enables users to find the legal professionals, information, blogs, job information, online publications and other legal content they're looking for faster and easier than ever before.
"The redesign of martindale.com is the latest step in the ongoing transformation of Martindale-Hubbell into the preeminent online destination for legal professionals," said Phil Livingston, senior vice president of Marketing & Business Solutions at LexisNexis and CEO for Martindale-Hubbell. "Site changes announced today reflect significant input and collaboration from across the legal community and better match the needs and workflow of thousands who rely on martindale.com as the authoritative resource for information on the worldwide legal profession."
Key changes to the site include:
LexisNexis sought input on the site redesign through a variety of both formal and informal channels and used that input to drive site changes. Multiple focus groups and detailed usability evaluations from user experience experts have been conducted over the past year to identify and confirm hypotheses about major areas of improvement. The new designs and proposed site changes have been iteratively tested with nearly 150 lawyers, law librarians and other legal professionals to date.
LexisNexis® is a leading global provider of content-enabled workflow solutions designed specifically for professionals in the legal, risk management, corporate, government, law enforcement, accounting, and academic markets. LexisNexis originally pioneered online information with its Lexis® and Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK], LexisNexis serves customers in more than 100 countries with 15,000 employees worldwide.


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PIB launches mobile version of website to help cellphone users
New Delhi: The Press Information Bureau (PIB) has launched a mobile version of its website to help cellphone users seamlessly access information on the move.
"The URL of the mobile website is pib.Gov.In/mobile. Mobile users who want the full functionality and display of the regular website can access it through the URL pib.Gov.In," a PIB official said.
The new site has been customised to display latest press releases on the home screen and offers links to other matters on the website, he said.
To make the website accessible to places where internet connectivity is poor, the site does not display the `heavy` content such as photographs and videos on the homepage.
At present, the mobile version displays only English content. In due course, Hindi and Urdu content of the main website will also be available on the mobile version, he said.
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More and more small-business owners of franchises have experienced real and well-documented problems in recent years. Instead of a path to prosperity, too many franchise business owners have discovered that their life savings is what’s on the menu. Arbitrary rules, unrealistic sales goals and outright predatory practices have turned franchising into a minefield for California small-business owners.
California’s franchise law, the California Franchise Relations Act, ostensibly was designed to protect franchisees, but it allowed big corporations such as McDonald’s and Subway to terminate small-business owners’ contracts over minor infractions. Many franchisees warned it would lead to abuses. The bill sailed through the Legislature with a veto-proof majority and became law in 1980, even though Gov. Jerry Brown wisely refused to sign it.
In recent months, hundreds of franchisees have come to the state Capitol or contacted their legislators to tell their stories. But they faced an obstacle: the powerful and well-funded industry group representing the large, multinational corporate franchisors, the International Franchise Association. The association, which advocated for the act back in 1980, always had opposed any protections for franchisees or limits on the complicated, trapdoor contracts their lawyers devised.
On the other hand, the Service Employees International Union has been interested in changing the conditions in the franchise sector in order to create more room for fast-food workers, whose movement for better wages it has supported, to win improvements.
Small-business owners saw an opening. Together with the union and Assemblyman Chris Holden, D-Pasadena, a legislator with direct experience in the franchise sector, they crafted a measure to address the imbalance of power that keeps both franchisees and workers under the corporate thumb.
A focused and successful push in the Legislature finally brought the corporate lobby to the table.
AB525, the California Small Business Investment Protection Act, provides some modest fixes: It gives franchisees a better chance to fix minor problems before termination and ensures that at least some of their investment can be recouped if their contracts are terminated. Is it the end-all for franchisees? No, it’s just a good first step. Will it remake the industry in the way the franchisees and unions are pushing for? Hardly, but it would adjust the balance of power. And the franchise association secured some small amendments to ease its legal concerns, ending up with a bill it neither supports nor opposes.
Funny enough, compromise is exactly what Gov. Brown asked the parties to do last year when he vetoed a similar measure that he felt overreached.
AB525 found that elusive common ground, and when it arrives on his desk as is expected before the end of session, it deserves his signature.
Scott Hauge is president of Small Business California.


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Twilio, which runs a customer engagement platform used by thousands of businesses, says that its employees were tricked via SMS phishing messages into giving attackers their login credentials, resulting in the theft of information on customers, as well as their customers and end users.
The ISMG Security Report analyzes a settlement with the U.S. Justice Department, in which Uber accepts responsibility for a data breach cover-up to avoid criminal charges. It also discusses why early-stage startups are conserving cash and recent initiatives from the U.S. Federal Trade Commission.
Data breaches in the healthcare sector cost about $10.1 million - more than double the average cost of breaches across other industries - once again ranking the sector as having the most expensive data breaches, says Limor Kessem, principal consultant of cyber crisis management at IBM Security.
Ride-sharing service Uber has reached an agreement with the U.S. Department of Justice to resolve a criminal investigation into its massive 2016 data breach. After Uber admitting to covering up the data breach, as well as several other factors, the government has ended its prosecution.
Getting cybersecurity right means CISOs need peer relationships with other operations executives. CISOs need board access and a handle on the company business, writes Ian Keller, director of security at a telecom company. "And then you'll wake up and realize this is not as simple as it sounds."
A proposed $350 million settlement of a consolidated class action lawsuit against T-Mobile, after a 2021 data breach that affected nearly 77 million people, includes breach victims and related legal costs. The settlement requires T-Mobile to invest $150 million to bolster data security.
While Managed EDR can help in many endpoint scenarios, it’s important to be aware that going beyond the endpoint allows MDR and extended detection and response (XDR) to offer broader cybersecurity coverage.
A misconfigured Alibaba private cloud server has led to the leak of around 1 billion Chinese nationals' personal details. An unknown hacker, identified as "ChinaDan," posted an advertisement on a hacker forum selling 23 terabytes of data for 10 bitcoins, equivalent to about $200,000.
India's stock brokers and depository participants must now report all cyberattacks and breaches to the Securities and Exchange Board of India within six hours of detection under a mandate implementing what is likely the world's tightest breach reporting timeline requirement.
Publicly traded companies will need to beef up their cybersecurity knowledge since the the U.S. Securities and Exchange Commission is proposing rules and guidelines that would mandate more stringent oversight of cyber risk, says Roger Sels, former vice president of cyber solutions for BlackBerry.
Canada's Desjardins Group has reached an out-of-court settlement to resolve a data breach class action lawsuit. The breach, which the credit union group first disclosed in 2019, traced to a "malicious" insider who for 26 months had been selling personal details for 4.2 million active customers.
A bipartisan U.S. proposal for a national privacy law also imposes new cybersecurity regulatory mandates onto the private sector. The inclusion of a data security section in draft privacy legislation shows the Washington consensus for voluntary industry measures is wearing thin.
The European Parliament and the Council of the European Union on Friday reached a provisional agreement to set a "baseline for cybersecurity risk management measures and reporting obligations." Called NIS2, it is a modernized framework based on the EU Network and Information Security Directive.
New York state officials are investigating a data breach at Illuminate Education, maker of a widely used software platform for K-12 schools. More than 1 million current and former New York students' personal details were exposed, and some students in California, Colorado and Connecticut were also affected.
The number of organizations being breached is on the rise, according to Forrester's 2021 State of Enterprise Breaches report. Allie Mellen describes the trend as "disappointing" and discusses the misaligned expectations some organizations have about breaches, as well as other report findings.


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Study claims cardboard safer than plastic for fruit transportationA Guelph food scientist has sparked up debate on plastic versus cardboard in boxes used to deliver produce from farms to grocery stores. Keith Warriner, a University of Guelph professor, released a study late last month that raises concerns about the hygiene of boxes made out of plastic.
In his study released last month, Dr. Warriner again found cause for concern. Using a pass or fail measure, he found a majority of samples (between 83 per cent and 100 per cent of 144 units tested) failed based on total aerobic count, which indicates the presence of bacteria. In 4 per cent of the random samples taken, tests showed the presence of E. coli.
“What we’ve found is those issues we identified back in 2013 still exist,” Dr. Warriner said in an interview. He noted some improvements from the 2014 results, but over all, he said, “the method they have for sanitizing the crates is ineffective.”
In response to the study a spokesperson for IFCO– one of the world’s biggest manufacturers and managers of the reusable crates, slammed the Guelph study as “flawed,” and relying on “faulty methodology.” The spokesperson pointed to more than $125-million IFCO has spent in the past five years improving its sanitation procedures, and added that the company’s crates have never led to any incidents of food-borne illness and listed their own studies which showed plastic boxes as more environmentally friendly.
Publication date: 5/4/2017
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Microsoft Considers Silverlight Exit Strategy, Platform May Get the Axe
November 9, 2011 8:22 PM
Adobe's transition to HTML5 may force Microsoft to expedite its own plans
Adobe Systems Inc. (
) shocked the world when it announced that it would be
terminating its development of Mobile Flash
in order to focus its efforts on HTML5 solutions,
like developer tools
. While Adobe still remains very committed to Flash on the PC -- officially at least -- the move signals a shift at the top internet multimedia firm from a proprietary standard to a standard that is at least partially open (the degree of openness depends largely
on the codecs for video and audio
selected in the particular flavor of HTML5).
In the wake of that announcement, reports are coming in that Microsoft Corp. (
) may be preparing to terminate development on its Silverlight rich multimedia platform to focus on its own HTML5 efforts.
For those unfamiliar, Silverlight is basically
a would-be Flash
Launched in 2007
, the platform grew to incorporate developer tools, plugins, and support for advanced features like streaming content. While the platform has seen modest success, it's never caught on to the extent of Flash.
Silverlight 5, the latest version of the platform, is due to land sometime this month. But it's unclear whether any browsers outside of Microsoft Internet Explorer -- still the most used browser in the world -- will be supported. And its equally unclear if Silverlight 6 will ever see the light of day.
While Microsoft initially pushed hard to incorporate the platform onto its diverse plethora of consumer electronics -- including the Zune HD, Windows Phone, and the Xbox 360 --
cites sources as saying it has since scaled back the effort, reducing the size of the Silverlight team.
While Silverlight may indeed get the ax (Microsoft even
acknowledges that HTML5 is "the future"
), its legacy will live on in certain increasingly popular web technologies, like the XAML pseudo-standard.
Comments Andrew Brust, a Microsoft Regional Director and founder of Blue Badge Insights in
, "It's pretty clear to me that the principles of Silverlight, including the use of XAML as a markup language, C# and VB .NET as programming languages, a streamlined .NET CLR (Common Language Runtime) profile, packaged deployment over HTTP and a sandboxed security environment, are alive and well in the native XAML/.NET approach to developing Metro-style apps on Windows 8. It may not be not Silverlight to the letter, but it's Silverlight in spirit and natively supported by the operating system to boot."
In other words, if Silverlight is about to die, it will live on its legacy.
"DailyTech is the best kept secret on the Internet." -- Larry Barber
CONFIRMED: Adobe to Kill Mobile Flash Player Development, Will Focus on HTML5
November 9, 2011, 9:00 AM
Adobe Shows Off "Edge" for HTML5 Development
August 1, 2011, 1:02 PM
Google Abandons h.264 Codec Support in Chrome, Apple and Microsoft Still Onboard
January 12, 2011, 9:02 AM
Microsoft Teams Up With Apple, Dissing Adobe and Praising HTML5
April 30, 2010, 11:59 AM
Adobe Flash and Microsoft Silverlight Vie for Dominance Amid HTML5 Threat
March 8, 2010, 9:57 AM
The USA’s newest weather satellite sends first photos.
January 24, 2017, 6:41 AM
Netflix took a decision to invest in original content
January 19, 2017, 7:00 AM
Amazon Airborne Fulfillment Center – Your Merchandise Drop-Shipped from the Clouds
December 29, 2016, 5:00 AM
Amazon is experimenting with a new kind of grocery stores, Amazon Go
December 8, 2016, 5:00 AM
Google has developed Deep Learning Algorithm to detect Diabetic Eye Disease
December 4, 2016, 5:00 AM
Google plans ultra-fast wireless Internet for Research Triangle Park, N.C.
August 12, 2016, 6:30 AM
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Russian cybersecurity firm Kaspersky said some of the most common methods of duping crypto investors include false advertisements claiming to sell mining equipment and fake websites posing as crypto exchanges.
In the first half of 2021, cybersecurity firm Kaspersky discovered over 1,500 bogus businesses targeting potential crypto investors and miners.
According to Kaspersky, malware crypto miners have already targeted 0.60 percent of users in South African countries.
False adverts claiming to sell mining equipment and bogus websites posing as crypto exchanges are among the most popular techniques of duping naive people, according to the survey. Kaspersky’s Africa enterprise sales manager, Bethwel Opil, said:
According to Kasperskly’s data based on anonymized statistics, 0.85 percent of Kenyan crypto investors and 0.71 percent of Nigerian crypto investors were victims of crypto-miner malware, with investors from Ethiopia (3.68 percent) and Rwanda (3.22 percent) facing the biggest threats.
The low percentages do not indicate the threat is insignificant, according to Bethwel Opil, Kaspersky’s Africa enterprise sales manager:
“Crypto-miner malware has been identified as one of the top 3 malware families rife in South Africa, Kenya and Nigeria at present, which we believe emphasises that as cryptocurrency continues to gain momentum, more users will likely be targeted.”
The survey also claims that bogus adverts claiming to sell mining equipment and phony websites acting as crypto exchanges are the most popular techniques of duping naive crypto investors.
Users were compelled to make an upfront payment under the guise of advanced payment or verification, after which the scammers stopped speaking to them.
Phishing sites are also used by cybercriminals to get access to users’ crypto wallet private keys. Kaspersky’s head of content filtering methods development, Alexey Marchenko, said:
“Those who want to invest in or mine cryptocurrency, as well as those who simply store such assets, may find themselves on the radar of fraudsters.”
The Intergovernmental Fintech Working Group (IFWG) of South Africa devised a roadmap for outlining the continent’s legislative framework for handling crypto assets in June 2021.
The IFWG also underlined the inherent danger and volatility of cryptocurrency investing, as well as 25 regulatory suggestions to combat money laundering, terror financing, and market manipulation.


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The rumours were true 505Games have confirmed Terraria will be coming to the PS Vita, release date inside........
Along with a Xbox 360 and PS3 release Terraria will be coming to the Playstation Vita this summer.
Details regarding pricing and cross/buy are unknown. Sony Business Manager Shahid Ahmad had this to say:
"We are tremendously excited about bringing Terraria to PS Vita. It's fantastic news for fans who have been begging for the game to be available on PS Vita and it's fantastic news for us too, we are delighted about the addition to the platform. For us this is a real coup, the opportunity to bring such a loved game to one of our platforms is really exciting. We are also really confident about how much fans are going to love the PS Vita version; the touch screen will ensure a totally unique experience."Let us know what you think of Terraria in the comments below!


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Intel unveiled its Compute Card, a credit card-sized device that’s basically an entire PC, at CES this year. At Computex this week, the company officially launched the card with a full list of partners and what we can expect to see from them product-wise. These devices will all be at the show and vary widely. Sharp, for example, is showing off digital signage while Seneca and Foxconn are making mini PCs. LG is sticking the Compute Card in its monitors to turn them into all-in-ones. The card might also show up in tablets and interactive whiteboards. Nexdock will be showing something off, too, which we can assume is its touchscreen conceptthat it announced in January. Intel says the Compute Card will start shipping in August.
Weirdly, Intel’s most well-known partners, including Lenovo, HP, and Dell, aren’t ready to show off their products. Intel says they’ll definitely create something but we don’t have an idea of what those devices might be.
The compute card will be available in four variants:
Image: IntelThe company’s also putting out its design kit today that includes guides and reference designs for developers. The Compute Card might not take over, but it at least is giving us hope for a future of powerful pocket PCs.
Auto-clicking 'Judy' adware was distributed by over 40 apps in Google's official Android market.
Security researchers have discovered a large malware campaign in the Google Play store.
Dubbed Judy -- because many of the malicious apps are games featuring a cutesy character of that name -- the autoclicking adware was found in 41 different apps created by a Korean mobile app developer, whose products have been downloaded by up to 18 million Android users. Some of the apps having been available for many years and are regularly updated.
Uncovered by cybersecurity researchers at Check Point Software, the malware uses devices to generate fraudulent clicks on adverts, generating income for those behind the scheme.
The malware was also discovered in several apps created by other developers on Google Play, some of which haven't been updated since April 2016. This suggests the malicious code was able to hide in the store undetected for over a year. The connection between the two campaigns is unknown, but it's possible one developer borrowed code from the other.
It's unclear how long the malicious code has existed within this second group of apps, but they have been downloaded by up to 18 million users.
This represents the latest instance of malicious codes sneaking malicious apps into the Play store, as part of Google's ongoing battle with Android malware.
The Judy apps are able to bypass Google Play's Bouncer protection system by using similar techniques to other forms of malware which have successfully infiltrated the Android store -- such as FalseGuide and Skinner -- because the malicious code is hidden from view.
There are more cryptor attacks than ever before. Could your business survive a cryptor? Despite criminals often demanding bigger payments from business victims, the ransom may only represent a small portion of the overall costs to the business. Download this ebook to learn how to guard against crypto-ransomware.
Many of the malicious apps are developed by a Korean firm named Kiniwini, whose products in the Play Store are registered under the name ENISTUDIO corp. They develop products for both Android and iOS and their games focus on a character called Judy doing various jobs ranging from cooking to pet care.
The researchers note that it's unusual to unearth the actors behind malicious apps, which in this case are hijacking users' devices to generate fraudulent clicks.
In addition to the fraudulent activity, the apps display a number of adverts which often leave users with no option but to click on them. Some users have commented on this as suspicious in negative reviews. However, the apps still enjoyed high user ratings -- a reminder that review scores can't always be trusted as apps can trick users into giving high scores.
Negative reviews noting suspicion of Judy apps in the Play Store.
Image: Check PointCheck Point has informed Google about the adware and the apps have now been removed from the store, although the millions who've already downloaded them are likely to remain unaware they're affected, due to the lack of any sort of recall facility for apps.
While Google keeps the vast majority of its 1.4 billion Android users safe from malware, malicious apps still get through.
Kiniwini has posted a statement on its website, which seems to refer to the games being removed from Google Play.
"Recently, our game apps have been blocked on Google Play and the service has been stopped," the company said.
Google had not responded to a request for comment at the time of publication.
2. More data sharingIn addition to storing web data longer, Twitter is changing how it shares this data with its partners (read: advertisers). The wording is a bit vague but the changes certainly aren't being made to share less of your data: "We've updated how how we share non-personal, aggregated, and device-level data, including through some select partnership agreements that allow the data to be linked to your name, email, or other personal information - but only when you give your consent to those partners."
3. No more Do Not TrackTwitter is no longer supporting Do Not Track, which you could enable in most browsers to stop advertisers from tracking your browsing history. Twitter states that despite its early support "an industry-standard approach to Do Not Track did not materialize."
A NEW STRAIN of ransomware has spread quickly all over the world, causing crises in National Health Service hospitals and facilities around England, and gaining particular traction in Spain, where it has hobbled the large telecom company Telefonica, the natural gas company Gas Natural, and the electrical company Iberdrola. You know how people always talk about the Big One? As far as ransomware attacksgo, this looks a whole lot like it.
The ransomware strain WannaCry (also known as WanaCrypt0r and WCry) that caused Friday’s barrage appears to be a new variant of a type that first appeared in late March. This new version has only gained steam since its initial barrage, with tens of thousands of infections in 74 countries so far today as of publication time. Its reach extends beyond the UK and Spain, into Russia, Taiwan, France, Japan, and dozens more countries.
One reason WannaCry has proven so vicious? It seems to leverage a Windows vulnerability known as EternalBlue that allegedly originated with the NSA. The exploit was dumped into the wild last month in a trove of alleged NSA tools by the Shadow Brokers hacking group. Microsoft released a patch for the exploit, known as MS17-010, in March, but clearly many organizations haven’t caught up.
“The spread is immense,” says Adam Kujawa, the director of malware intelligence at Malwarebytes, which discovered the original version of WannaCry. “I’ve never seen anything before like this. This is nuts.”
A Bad BatchRansomware works by infecting a computer, locking users out of the system (usually by encrypting the data on the hard drive), and then holding the decryption or other release key ransom until the victim pays a fee, usually in bitcoin. In this case, the NHS experienced hobbled computer and phone systems, system failures, and widespread confusion after hospital computers started showing a ransom message demanding $300 worth of bitcoin.
As a result of Friday’s infection, hospitals, doctors’ offices, and other health care institutions in London and Northern England have had to cancel non-urgent services and revert to backup procedures. Multiple emergency rooms around England spread word that patients should avoid coming in if possible. The situation doesn’t appear to have resulted in any unauthorized access to patient data so far.
In England, the National Health Service said that it is rushing to investigate and mitigate the attack, and UK news outlets reported that hospital personnel have been instructed to do things like shut down computers and larger IT network services. Other victims, like Telefonica in Spain, are taking similar precautions, telling employees to shut down infected computers while they wait for instructions about mitigation.
Hospitals make for popular ransomware victims because they have an urgent need to restore service for their patients. They may therefore be more likely to pay criminals to reinstate systems. They also often make for relatively easy targets.
“In healthcare and other sectors we tend to be very slow to address these vulnerabilities,” says Lee Kim, the director of privacy and security at the Healthcare Information and Management Systems Society. “But whoever is behind this is clearly extremely serious.”
annaCry didn’t go after NHS alone, though. “This attack was not specifically targeted at the NHS and is affecting organizations from across a range of sectors,” the NHS said in a statement. “Our focus is on supporting organizations to manage the incident swiftly and decisively.”
In some ways, that makes things worse. WannaCry’s not just coming for hospitals; it’s coming for whatever it can. Which means this’ll get worse—a lot worse—before it gets better.
Wide RangeThe NHS portion of the attack has rightly been drawing the most focus, because it puts human lives at risk. But WannaCry could continue to expand its range indefinitely, because it exploits at least one vulnerability that has persisted unprotected on many systems two months after Microsoft released a patch. Adoption is likely better on consumer devices, so Malwarebytes’ Kujawa says that WannaCry is mostly a concern for business infrastructure.
The creators of WannaCry seem to have developed it with broad, long-term reach in mind. In addition to the Windows server vulnerability from Shadow Brokers, MalwareHunter, a researcher with the MalwareHunterTeam analysis group who discovered the second generation of WannaCry, says that “probably there are more” vulnerabilities the ransomware can take advantage of as well. The software can also run in 27 languages—the type of development investment an attacker wouldn’t make if he were simply trying to target one hospital or bank. Or even one country.
It’s equally bad on a more micro level. Once WannaCry enters a network, it can spread around to other computers on that same network, a typical trait of ransomware that maximizes the damage to companies and institutions. It’s also unclear so far exactly where the attacks originated, making it harder to remediate on a large scale. Security analysts will eventually be able to use information from victims about how attackers were able to first get in (things like phishing, malvertising, or more personalized targeted attacks) to trace the origins.
The spread is immense. I’ve never seen anything before like this. This is nuts.ADAM KUJAWA, MALWAREBYTES
While it’s likely too late for those already impacted (the question for them now is whether to pay or not), there is a way to provide at least some protection from WannaCry before it hits: Get that Microsoft update ASAP. Or, since it’s a server-level patch, find the nearest sysadmin who can.
“I would say it’s having so much ‘success’ because people and companies aren’t patching their systems,” MalwareHunter says.
Until they do, expect WannaCry to keep spreading. And make sure you’re ready before the next big ransomware wave hits.
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Estonia’s producer prices declined for the fifth straight month in October, figures from Statistics Estonia showed on Monday.
The producer price index fell 3.0 percent year-on-year in October, after a 2.5 percent decline in September.
On a monthly basis, producer prices dropped 0.4 percent in October.
Compared with the same month last year, the index was most affected by price decreases in electricity production and in the manufacture of wood and paper, the agency said.
Data also showed that import prices decreased by 0.5 percent monthly and by 3.3 percent annually in October. Export prices declined 0.5 percent over the month and fell 2.4 percent from a year ago.


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While the console versions of Sonic 4 Episode II have been priced and dated for quite a while, SEGA has just now given a date and price for the mobile versions. Surprisingly, they're coming a lot sooner than expected and are a bit cheaper than Episode I initially was! SEGA Blog revealed that the game will hit NVidia Tegra 3 powered devices on Android tomorrow and prices will be $6.99/ AUD$7.49/€5.49/ £4.99. As for iOS, the game arrives on Thursday at that same price point. Compared to Episode I, which released in 2010, Episode II is $3 less at release. Episode I, meanwhile, has dropped to $3.99 and this drop appears to be permanent. So for $11, newcomers can own Episodes I and II plus Episode Metal.
Expect an iOS review from myself on SEGAbits sometime next week.


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“The way that people manage their properties today is archaic. We want to change this by enabling it through technology and making it more operational efficient thus reducing the costs,” said Paras Arora, founder of Qdesq.
The board has tied up with a private bank to offer the facility. Residents can now pay their taxes either through the bank's portal on internet or at the branches of the bank in the city.
The account was won following a competitive multi-agency pitch. MindShift Interactive won the role owing to their 360 degree marketing approach and web strategy that encompassed various platforms in a creative manner.
This latest move by Magicbricks is a part of their business strategy to offer their customers the most user friendly experiences.
The Authority has initiated two schemes offering 300 acres of industrial land and institutional plots to interested entrepreneurs.
The breach follows similar attacks at Hyatt Hotels Corp and Starwood Hotels & Resorts Worldwide Inc in recent months.
“With this acquisition, PropTiger aims to advance its technological platform to further enhance its hi-tech marketing solutions for developers,” the company said in a statement.
On Tuesday, more than 20 members of the academia, construction industry, and foreign experts brainstormed to come up with a roadmap to work together on the technology.
Desai was responsible for setting up Housing.com's marketing team in Hyderabad. He had been developing strategic relationships with the top builders in the city.
Housing.com's Nikhil Rungta explains why Indian tech startups fail as compared to their global counterparts
Rungta feels the secret to success is laser-sharp focus on problems that startups want to solve.
For the purpose, 'lodge your complaint' icon will be made available on the official LDA website, by August end.
Impelled by the pressures of climate change and population growth and shaped by the promise of technologies like 3-D printing.
The web-based geographical land use information system offers a variety of information including list of notified areas, locations identified as IT corridors and places falling under MRTS.
The new platform, both on desktop and smartphones, will now host the ‘Priority Search’ tool to help home seekers prioritize their preferences.
Prime Minister Narendra Modi had recently appreciated the cold mix technology by the firm during an innovation exhibit in Africa.
India’s largest industrial overhead crane manufacturer ElectroMech uses Virtual Reality to take customers on a virtual tour of their factories.
The municipal body will carry out registration for the central scheme for next 15 days wherein it is expected to receive around 50,000 applications, authorities said.
The brains behind this novel concept are two Kerala born entrepreneurs who are batch mates from IIM Bangalore batch of 2012.
The civic body holds the distinction of being the only municipal corporation in the country to have introduced online approval of building plans.
As a first step, PPMS has partnered InterNACHI (the International Association of Certified Home Inspectors) in setting up the India Chapter, he said.


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The Food Warehouse is about to open in Scunthorpe after investing more than £750,000 at Lakeside Retail Park.
Iceland’s five-year-old large store format will open in the town on Tuesday, November 26, with 30 new jobs created.
There are now more than 100 such stores across the country, with significant growth plans rolling into 2020.
It has taken on the former Carpet Right outlet, three years after opening in Grimsby. Hull and Doncaster are also served.
Kristian Barrett, operations director for The Food Warehouse, said: “We’re delighted to be opening our new store in Scunthorpe. The Food Warehouse is an innovative store format, responding to the changing needs of shoppers by offering amazing bulk-buy deals and homeware offers alongside a fantastic range of frozen, fresh and chilled foods.”
Every customer who visits the store on the opening day can enter a free prize draw to be in with a chance of winning a great selection of prizes, including home appliances.
More than 3,000 product lines will be on offer, and it will open Monday to Saturday 8am to 9pm, and 10am to 4pm on Sundays.


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The Industrial and Commercial Workers Union (ICU) has hailed the drop in inflation to 9.6 per cent (April) from 10.4 per cent (March), but has noted that workers are measured in celebrating the development because “we are still paying the same level of taxes; there’s been no reduction.”
General Secretary, Solomon Kotei told Business Finder the decline in inflation will support efforts by government and the Bank of Ghana to pursue growth “which is welcome but we are wondering the impact this will have on our disposal income.”
The significant drop was attributed largely to happenings in the non-food basket.
“We are aware that this will play a key role in the management of the exchange rate which will in turn help businesses to plan better,” the ICU boss reckoned.
He lamented the high lending rates, in spite of the significant easing by the central bank, which he contended had failed to reflect on the economy.
Even though workers may enjoy some security in terms of the fact that employers will reduce their costs, it may not translate into meaningful benefits for the workers.
Beyond the decline in inflation, it must reflect on the prices of goods and services, “especially prices of goods manufactured here must be affordable.”
Government must show commitment in relieving workers off the tax burden and rather cast its net wider to rope in the untaxed.
Mr Kotei reiterated his call for the Ghana Revenue Authority to find innovative ways of broadening the tax net and refrain from burdening workers who are already meeting their tax obligations.


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Israel staggered forward in an accelerated reopening of the economy on Thursday, with reports of a sooner-than-expected order to allow more businesses to resume operations.
Most stores and small shopping centers will be able to reopen as early as Friday after the Health Ministry gave its consent, though the cabinet will still have to vote on it, according to media reports Thursday evening.
Yerushalayim’s Mahane Yehuda market will be allowed to conduct business on Sunday, according to Army Radio. Owners of food stalls there protested the decision on Wednesday to permit IKEA furniture stores to open while keeping the open-air market closed. The decision was worked out by Yerushalayim Mayor Moshe Lion, a Mahane Yehuda representative and the prime minister’s office, according to Arutz Sheva.
Hairdressers, clothes and cosmetics stores are also said to be included in the return to work, according to Channel 13, which said the revised schedule was due to concern that the businesses would open anyway, and without proper compliance with health restrictions. The reopenings will be contingent on following Health Ministry directives for masks, gloves, distancing, etc.
Large, indoors shopping malls will have to wait to reopen.
Defense Minister Naftali Bennett called on Thursday for the “immediate and calculated” reopening the economy and education system, castigating the Health Ministry’s go-slow policy as “destructive.”
“One million Israeli citizens have lost their jobs in the past month. Many more will follow them,” Bennett said, according to The Times of Israel.
“The continuation of Health Ministry closure policy is destructive for the future of the state of Israel,” he added. “There is another way: responsible but determined.”


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NACCO Reports Hamilton Beach Gains, Kitchen Collection Losses
Friday August 3rd, 2012 - 11:26AM
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
Hamilton Beach and Kitchen Collection parent company NACCO Industries today posted second quarter results. Hamilton Beach's net income was $2.2 million versus $1.3 million in the second quarter of 2011.
The company attributed the advance to increased sales of higher-margin products, the absence of $900,000 of pre-tax costs incurred in 2011 related a Hamilton Beach distribution center relocation and lower interest rate expense, all partially offset by higher product costs.
For its Kitchen Collection retail division, the company reported that second quarter net loss increased to $3.2 million from $2.7 million in 2011 primarily as a result of higher store costs.
For the six months ended June 30, Hamilton Beach reported net income of $3.2 million on revenues of $215.6 million versus net income of $2.3 million on revenues of $204.9 million for the first six months of 2011.
For the six months ended June 30, 2012, Kitchen Collection reported a net loss of $6.0 million on revenues of $87.6 million compared with a net loss of $6.0 million on revenues of $80.9 million for the 2011 period.
Tags: Housewares Cookware & Bakeware Small Electrics Gadgets & Kitchen Tools Retail Financials
With all the color that has been unleashed on the housewares business this year, asking what the hot colors are is not enough. It’s more important to understand why they might be hot and how they can be applied to generate sustained revenue.


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The Association of Professional Bodies of Nigeria (APBN), an umbrella body of all recognised and chartered professional institutes, institutions, associations and societies has described the high cost of food as worrisome.
The association said this at a conference held at the Lagos Chamber of Commerce (LCCI) building in Alausa, Lagos State
Abayomi Ogunjimi, the Chairman of APBN, Lagos Chapter, said that Nigerians had been burdened with galloping inflation and other attendant economic hardship.
“The astronomical increase in the cost of food is becoming worrisome. Our country is faced with hunger.
"We call on the government to put in measures to halt this trend.
“The high cost of food prices could be attributed to several factors that are not limited to the gross devaluation of the naira against major currencies.
“Other factors include displacement of farmers by bandits and terrorists, inconsistent policies of the government, etc. We urge the government to intensify efforts to alleviate the suffering.
“We are also concerned with the free fall of the naira against the dollar, while we are aware that the government is doing its best to get the naira stable because inflation will reduce the purchasing power of the citizen,” he said.
Ogunjimi commended the efforts of the Central Bank of Nigeria’s (CBN) policy of the naira redesign, which he noted would have a positive impact on the economy.
“The issue of corruption has become a cankerworm in the country in spite of the efforts being made by the various organs of the government.
“The recent announcement by the CBN to redesign the naira is a welcome development that seems to have exposed corrupt Nigerians both in public and private sectors.
“The CBN should not allow pressure from any quarter that will lead to a change in its stand to carry out the already announced policy”, he said.
Nigerian Breweries Plc, is the pioneer and largest Brewing Company in Nigeria an...LEARN MORE
Mcnichols Plc was incorporated on August 26, 2004, McNichols Plc is a relatively...LEARN MORE


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British Columbia Consumer Confidence
According to the Conference Board of Canada, consumer confidence in British Columbia was little changed in January 2023 but remained at one of the lowest levels on record.
Concerning job prospects over the next six months, the number of respondents expressing stability continued to fall at the expense of more respondents expecting the short-term future of employment prospects to decline. The gap between respondents expressing pessimism over future employment conditions and those expressing optimism continues to widen.
Regarding expectations for their household budget over the next six months, the number of respondents expecting worsening conditions has pulled back slightly in recent months but remains elevated. There was an increase compared to last month in the number of those who were uncertain about the future of their consumer household finances.
Sentiment about making major purchases, like a home or a car, remains at historically subdued levels. The number of respondents who thought it was a bad time to make a major purchase continued to rise in January while those expressing optimism trended even lower.
Note: Based on 3-month moving averages.


text: At press time, 24 comments have been received for this new proposed article source change, far fewer than bitcoin news sec meeting 1, plus comments received for the previous filing that was investments sure good. The registration statement explains:. The leader in blockchain http://adibodobe.online/download-business-plan/download-business-plan-minutes-pdf.php, CoinDesk is a media outlet that strives for the keeting journalistic standards and abides by a strict set of editorial policies. The trust and fund are managed and controlled by USCF, a limited liability company that is internet rising work on youtube the as a commodity pool operator bittcoin the Commodity Futures Trading Commission and is a member of the National Futures Association. Any idiot can post any BS they want, and Google News will spread it to the world. However, it withdrew the proposal on Jan. Sign Up. Since the company filed an amendment, the commission began soliciting public comments on the new proposal on May The SEC is gonna investments seat calling on this one. The new deadline is August The U. The U. The line at nitcoin end may not be enough for a financial meetijg magazine to be honest! Bitcoin news sec meeting a filing posted Wednesdaythe securities regulator wrote the New York-based Wilshire Phoenix had not proven the bitcoin BTC market is sufficiently resistant to market manipulation. Do you have any idea how irresponsible it is to post something like this? She has also emphasized that excessive regulation could hurt innovation such as cryptocurrency. It is newx an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of btcoin products, services, or companies. The fund also has investments sure good steps to address issues related to potential manipulation in the digital asset markets. Are you feeling lucky?


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ELA elimination final rule drops "well characterized" definition; FDA expands list of eligible biologics.
FDA BROADENS LIST OF NON-ELA BIOLOGICAL PRODUCT CATEGORIES in a final rule eliminating the requirement for establishment licensing applications for certain biologics published in the Federal Register May 14. The rule eliminates ELA requirements for therapeutic DNA plasmid products, therapeutic synthetic peptide products of 40 or fewer amino acids, monoclonal antibody products for in vivo use and therapeutic recombinant DNA-derived products.
You may also be interested in...
Biologics license applicants will be held responsible for contractor deviations from cGMPs, FDA says in an updated draft "Guidance for Industry: Cooperative Manufacturing Arrangements for Licensed Biologics."
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011


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H1N1/Swine Flu Update
In the News
May 25, 2009
Ninety-three percent feel it is safe to eat pork products, and, after an initial dip, many retailers are reporting that pork sales are returning to previous levels. But the industry is now faced with the challenge of assuaging consumer fears in the coming months. While the spread of disease is continuing and must be taken seriously – as of May 22, 2009 there were 6552 confirmed cases in 48 states – it will be our job to undo the damage caused to the food industry by the unfortunate, original naming of the virus.
The first name given to the flu was based on the fact that this novel H1N1 influenza virus contained genetic material of swine, human and avian origin. The original “swine flu” name, however, led to confusion about the safety of pork. As a result, all major public health organizations have renamed the flu H1N1. From the very outset of the flu outbreak, the Centers for Disease Control said that pork was safe to eat and to handle.
National Pork Board surveys tracking consumer beliefs about the H1N1 virus and eating pork mirror the results from the SupermarketGuru quick poll. The vast majority of consumers in both surveys understand that H1N1 is not a foodborne illness. As the World Health Organization, CDC, and USDA have added their names to the growing list of government bodies declaring pork to be safe, there have been steady increases in the percentage of consumers who understand that it is safe to eat and handle pork.
U.S. pork producers take a number of precautions to keep workers and animals healthy and to prevent the spread of illness. Even large operations subdivide the herd into separate buildings, so that the pork producer can more carefully monitor the health of the herd. If a pig in one part of the herd becomes ill, this further prevents any spread of illness.
Flu viruses do not normally move from pigs to humans, but it is possible, though not very likely, that a farm worker in close contact with a sick pig could get the flu from the pig. Along those same lines, a sick human can infect a healthy pig. Even if H1N1 were found in U.S. pigs, says Ceci Snyder, RD, Assistant V.P. Consumer Marketing for the National Pork Board, it would not be a food safety issue because sick animals are not allowed to go to market.
Whereas H1N1 is a serious threat to human health, it has not been found in U.S. pigs. The USDA is recommending that the pork industry take all appropriate measures to protect swine. Also, in keeping with standard food safety protocol, retailers should always advise customers to cook foods to the proper temperature.
“Scientists are still trying to determine the original source of the novel H1N1 virus. What we do know for sure is that it is a respiratory illness, and not a food-borne illness, regardless of where it originated from originally,” says Snyder.
Thankfully, a recent MarketWatch story said Smithfield Foods confirmed that pork prices and demand for pork are rebounding since their initial drop several weeks ago. Smithfield CEO Larry Pope referred to the initial decline as a “three week event” that is almost over.
“Our consumer research indicates that pork sales are back on track and that the vast majority of consumers are confident about the safety of pork,” says Snyder. “In fact, consumer participation at our pork grilling event in Wichita, Kansas was one of the highest turn-outs we have ever had.”
First detected in the U.S. in April 2009, H1N1 spreads from person to person in much the same way that regular seasonal influenza viruses spread. To prevent the spread of respiratory illness, the CDC recommends frequent hand washing with soap and water and/or the use of alcohol-based hand cleaners. Sick persons should stay home and limit contact with others.
An updated case count of confirmed influenza A (H1N1) infections in the United States is kept at http://www.cdc.gov/swineflu/investigation.htm.


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Lyft’s big lift
America’s number two ride-hailing firm has benefited from Uber’s struggles
一家公司的坏消息常常是另一家公司的好运气。多年来，叫车应用Lyft都被它看似不可阻挡的对手优步(Uber)压制。优步开拓新市场，取得了近700亿美元的估值，成为美国历史上估值最高的私营科技公司。优步没有公开上市的股价，如果有的话，股价也一定会反映出公司近来的麻烦：被控侵犯知识产权，职场文化也受到调查。但据数据提供商TXN Solutions称，Lyft在美国的市场份额已从五个月前的18%升至现在的25%，这从侧面证实了优步的危机。 ONE firm’s bad news is often another’s good fortune.(写作句型) For years Lyft, an app that offers on-demand rides(词汇翻译), was outdone by its seemingly unstoppable rival, Uber, which zoomed into new markets and grabbed a near-$70bn valuation, the largest of any private American tech firm in history. Uber does not report a share price that would register(小词活用)its recent troubles, which include one investigation into alleged intellectual-property theft and another into its workplace culture. But that Lyft’s market share in America has risen from 18% five months ago to 25% now (according to TXN Solutions, a data provider) is a gauge(小词活用)of the larger firm’s crisis.
Lyft一点也不像典型的硅谷公司。和优步不同，它并不渴望统治全球，而是只在美国运营。它也没有特别把自己当回事。多年来，Lyft一直把毛茸茸的粉色大胡子贴在车前，方便乘客认出Lyft的司机。公司还鼓励乘客和司机碰一碰拳头并坐在前排(不过它现在放松了这套礼仪规范，以吸引更多顾客)。 Lyft is far from a typical Silicon Valley company. Unlike Uber, it does not lust for world domination and it operates only in America. Nor does it take itself especially seriously. For years it identified its drivers by pink, fuzzy moustaches fastened to the front of cars, and encouraged riders to fist-bump their drivers and sit in the front seat (though it has now relaxed this etiquette to attract more customers).
Lyft的创始人罗根·格林(Logan Green)和约翰·齐默(John Zimmer)把早期的重点放在善待司机上，比如乘客可以通过应用给司机小费。硅谷有很多人都把Lyft这种讨喜的行为视为会被优步打败的迹象(写作句型)。这两家公司不仅在争乘客，也在努力争取对方旗下的司机。2014年，优步的老板特拉维斯·卡兰尼克(Travis Kalanick)曾试图收购Lyft。 Its founders, Logan Green and John Zimmer, put an early emphasis on being nice to drivers, for example by allowing people to tip through the app. Many in Silicon Valley viewed such cuddly behaviour as a sign that Uber would trounce it. The two do not just compete for passengers; each also tries to woo(小词活用)the other’s drivers. In 2014 Uber’s boss, Travis Kalanick, attempted to buy Lyft.
但Lyft的文化却成为了一种资产。优步引发的争议，包括卡兰尼克某次被拍到痛骂一位司机，都为它的竞争对手提供了助力，尤其是在思想开明的美国西岸，那里的人要更不能忍受涉嫌性别歧视的品牌。在线调查公司Survey Monkey称，美国转用Lyft的人里有一半都说公司声誉是主因。 But Lyft’s culture has turned out to be an asset. Uber’s controversies, including Mr Kalanick being caught on video berating a driver, have helped its rival—particularly on America’s liberal-minded west coast, where people are more squeamish(写作句型)about using a brand associated with sexism. Half of those who have switched to Lyft in America say that company reputation was the chief reason, says Survey Monkey, an online-polling firm.
6月6日，优步称，性骚扰调查结果出炉后，公司已经解雇了20名员工(由前司法部长牵头的另一项更大范围的调查即将得出结果)。一位投资了优步的风险资本家说，被人看见自己上优步的车，他感到很难为情。4月，Lyft称已从投资人那里又融得6亿美元，公司估值达到75亿美元，比上一轮融资提高了约三分之一，看来这一切并非偶然。 On June 6th Uber said it had fired 20 employees after the conclusion of an investigation into sexual harassment (the result of a broader probe, led by a former attorney-general, is due soon). One venture capitalist who has backed(小词活用)Uber says he is embarrassed to be seen getting into its cars. It seems no coincidence that in April Lyft said it had raised another $600m from investors, valuing the firm at $7.5bn, around a third more than its previous mark.
这也反映出投资人对网约车业务的观念变化。以前很多人认为这是个赢家通吃的市场，一家大公司在每个国家都有近乎垄断的地位，但现在他们相信，人们在交通上的花费足以让不止一家公司成功。Lyft的联合创始人齐默将网约车服务比作无线通讯市场，在这个市场上，几家公司各自拥有高质量的覆盖率和大量客户。 That also reflects a change of mind among investors over the ride-hailing business. Having thought of it as a winner-takes-all market, in which one big company has a near-monopoly in each country, plenty now believe people will spend enough on transport for more than one player to prosper.(写作句型) Mr Zimmer, Lyft’s co-founder, compares ride-hailing to the wireless-carrier market, in which several companies boast high-quality coverage and plenty of customers.
当然，在网约车服务中提供良好的“覆盖率”，让车辆在几分钟内就能到达乘客所在的位置，这需要资源。Lyft的首席财务官布莱恩·罗伯茨(Brian Roberts)说：“我们还处在建造‘手机基站’的阶段。这很费钱。”但是，精力仍然集中在地理区域和战略上也许对公司有利。Lyft的注意力不像优步那样分散。优步不仅在向全球扩张，还在拓展新的业务线，如送餐和货运。 Offering good “coverage” in ride-hailing so that rides can arrive within a few minutes, of course, requires resources. “We’re at the stage of building cell towers. That’s expensive,” says Brian Roberts, Lyft’s chief financial officer. But it may help the firm that it remains geographically and strategically focused. It has fewer distractions than Uber, which in addition to expanding globally is pushing into new business lines, like food delivery and trucking.
Lyft对自动驾驶汽车的策略也与众不同。优步不惜投入重金研发自己的自动驾驶技术，以防范有朝一日另一种不需要司机的服务介入，以更低的价格削弱优步的竞争力。而Lyft却对其他公司开放自己的网络，包括谷歌的姊妹公司、开发自动驾驶汽车的Waymo(这家公司指控优步盗取商业机密)。 Lyft’s strategy on self-driving cars is also distinctive. Uber is investing heavily to build its own autonomous technology, guarding against the chance(写作句型) that another service could come in without drivers and undercut it on price. But Lyft has opened up its network to other firms, including Waymo, a self-driving car unit that is Google’s sister company (and which has accused Uber of stealing trade secrets).
Lyft认为，齐心协力胜过闭门造车，因为发展自动驾驶技术有太多的不确定性。6月，Lyft宣布还会和一家名为nuTonomy的自动驾驶创业公司合作，nuTonomy的无人车将在波士顿展开测试。有一种风险确实存在：Waymo和其他合作伙伴可能会用Lyft的数据完善自身的无人驾驶技术，然后推出与Lyft竞争的网约车服务。但这种可能性看起来还很遥远。 Collaborating with others is better than building expertise in-house, Lyft reckons, because so much uncertainty surrounds the evolution of autonomous technology. In June Lyft announced another relationship, with an autonomous-driving startup called nuTonomy, which will start testing cars in Boston. There is a risk that Waymo and other partners may try to perfect their own self-driving technology with Lyft’s data and then launch a competing ride-hailing network, but that seems a distant possibility.(写作句型)
在不远的将来，Lyft可能会发现，让自己保持与众不同变得更难了。优步已经开始模仿它的一些成功的策略，比如给小费，而且还在彻底改革自己的企业文化。很多开网约车的司机现在都同时接两家公司的单，这意味着乘坐Lyft的车已不再是件独特的事。 In the immediate future Lyft may find it harder to keep differentiating itself. Uber has mimicked some of its successful tactics, such as tipping, and is overhauling its culture. Many ride-hailing drivers now work for both services, which means travelling in a Lyft car is no longer unique.
Lyft已经赢得四分之一的美国市场，这有助于两家公司都转向盈利。2016年，Lyft亏损约6亿美元，优步亏损28亿美元。投资公司KKR的文森特·莱特瑞(Vincent Letteri)说，之前它们看起来像是要竞相砸钱，直到“同归于尽”。在拒绝参加Lyft前两轮融资后，KKR最近投资了这家公司。莱特瑞认为，优步现在已经接受了要与Lyft共存的现实。要想在美国达到健康盈利，从而为海外扩张买单并且稳住紧张的投资人，优步将不得不控制促销支出。这样，Lyft也就不再那么需要花费重金补贴司机和乘客了。它现在已经不再向新注册的客户提供50美元免费乘车券了(写作句型)。Lyft依旧想与人为善，但也不会想做冤大头。(写作句型)The fact that Lyft has won a quarter of the American market could help both firms’ profits. In 2016 it lost around $600m and Uber $2.8bn. They formerly seemed likely to spend money fighting to the point of “mutually assured destruction”, says Vincent Letteri of KKR, an investment firm that recently put cash into Lyft (after declining to join in two previous funding rounds). Uber now accepts that Lyft is there to stay; it will have to rein in promotional spending if it wants to achieve healthy profits in America to pay for expansion abroad and to reassure nervous investors, says Mr Letteri. Lyft will have less need to spend heavily on subsidies for drivers and riders. It has stopped its practice of offering new customers $50 in free trips to sign up. Lyft still wants to be nice, but has no wish to be taken for a ride.


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Facebook is reportedly planning to change its name to reflect its latest endeavour- the metaverse. The name change is to be announced by CEO, Mark Zuckerberg at the company’s annual Connect Conference on October 28th. However, there are reports that it can be disclosed earlier than expected.
The parent company to Instagram, WhatsApp and Oculus is poised to become known for more other than social media and is already laying the groundwork for this. In a blog post, Facebook announced a plan to create 10,000 new high-skilled jobs within the European Union (EU) over the next five years.
Furthermore, Facebook already has more than 10,000 employees building consumer hardware like AR glasses. In August, the company launched a test of a new virtual-reality remote work app where users of the company’s Oculus Quest 2 headsets can hold meetings as avatar versions of themselves.
These moves are all in a bid to help build the metaverse the company sees as a key component of its future.
Although it is believed that the maximum potential of the metaverse will take a while to be unlocked, it recently invested $50m (£36.3m) in funding non-profit groups to help “build the metaverse responsibly”.
In an interview in July, the CEO of Facebook already declared his intentions for the multi-billion dollar enterprise.
“We will effectively transition from people seeing us as primarily being a social media company to being a metaverse company.”Mark Zuckerberg, Facebook CEO
The advent of a new name is happening in the midst of the company’s trial with the US Senate. A whistleblower, Frances Haugen, who used to work at Facebook, disclosed that the company knew that its apps were toxic to the well-being of young users but did nothing about it.
The term ‘metaverse’ refers to digital worlds in which multiple people can interact within a 3D environment often using VR headsets. In practical terms, it means augmented and virtual reality products and services. One such world is the gaming world where players can interact with other players using avatars.
The term was coined by Neal Stephenson in his 1992 novel, Snow Crash, where it referred to a 3D virtual world inhabited by avatars of real people. No one company will own and operate the metaverse. Like the internet, its key feature will be its openness and interoperability.
Already, big tech companies such as Microsoft, Roblox and Epic are investing in the metaverse as it is believed that it will help unlock access to new creative, social and economic opportunities.
In another development, Facebook has launched a pilot of its digital currency wallet Novi in the US and Guatemala. This announcement was made by David Marcus, head of Facebook’s Novi wallet. The company has chosen to use the Paxos Dollar stablecoin after its own cryptocurrency Diem failed to get backing from regulators.
Coinbase, the US cryptocurrency exchange, is providing custody services for Novi. Users can download the app on iOS and Android and register with a government-issued ID to enjoy free money transfers between wallets.
However, US Senators called on Facebook to end its digital wallet and cryptocurrency project saying that the company cannot be trusted to manage cryptocurrency.
“Facebook is once again pursuing digital currency plans on an aggressive timeline and has already launched a pilot for a payments infrastructure network, even though these plans are incompatible with the actual financial regulatory landscape — not only for Diem specifically, but also for stablecoins in general,” the senators said.
Facebook is yet to respond to the letter. Overall, the company is going through tough times but whether they can come out unscathed is a story only time can tell.


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Mumbai: India’s banks are again quietly raising interest rates on credit card loans. And sticking it in the fine print.
And, this time, instead of going for across-the-board hike, banks are starting to discriminate, using credit history and other segmentation to push some customers into higher rate bands.
For instance, ICICI Bank Ltd, India’s largest private sector lender and the biggest credit card issuer with a card base of around 8.5 million, is now charging many of its customers 3.4%, up from 3.14% just weeks ago. It has also reduced the maximum credit-free period from 52 days to 48 days. Credit-free period is the time given by a bank to a customer to make payments on credit card purchases without having to pay any interest.
The hike in interest rates across banks examined by Mint is 25-30 basis points. One basis point is one-hundredth of a percentage point. Since interest rate on credit cards is charged monthly, a 30 basis points raise translates into a 3.6 percentage points hike in annual interest rates.
An ICICI Bank official said the bank’s interest rate band for credit cards is 1.5-3.4%.
Foreign banks, such as Citibank NA and Standard Chartered Bank, have also started charging their credit customers higher rates within an interest rate band. The interest band of Citibank is 1.49-3.5% and that of Standard Chartered 2.49-3.4%.
HDFC Bank Ltd, which has roughly half of ICICI Bank’s credit card base, is raising its interest rate band from 2.75-2.95% to 3.05-3.25% from 1 September.
Parag Rao, head of product portfolio and service delivery credit cards at HDFC Bank, said: “The increase in interest rates is in line with market. We have not tinkered with the credit-free period as this could have an impact on the repayment of customers.” He also claimed that HDFC Bank’s rates were lower than the market and it has “corrected the disparity”.
State Bank of India (SBI), which runs a credit card joint venture with GE Capital Services, the largest issuer of private label credit cards in the world, said it hasn’t yet taken a decision on interest rates even as Diwakar Gupta, chief executive of SBI Cards and Payment Services Pvt. Ltd, noted that “credit is getting costlier”.
According to Gupta, “the (interest) rates will either remain stable, or move up from here”. SBI Cards’ current interest rate band is 2.6-3.1%.
A rise in interest rates on credit cards does not affect all cardholders as only those customers who roll over some portion of their credit need to pay interest on amounts due. Such customers are believed to make up around 40% of the almost 28 million credit card users in India.
The average spending on Indian credit cards is in the range of Rs2,200-2,400 per month, a relatively low figure by global standards, but one that has been rising in recent years. “The average spend on cards about two years ago was in the range of Rs1,700-1,800 per month,” said an official from a payment company, who didn’t want to be identified because he is not authorized to speak to the media.
Banks typically charge high interest rates on credit card debt as these “loans” are not backed by any collateral. This means that in case of default, banks more often would end up having to write off the loan.
Most banks in India aggressively expanded the credit card base in the past few years by waiving annual fees on cards and aggressively wooing customers as they sought to cash in on rising consumer spending in Asia’s second fastest growing economy.
But with India’s banking regulator raising policy rates and tightening liquidity to rein in inflation, which is at a 13-year high, banks are getting pinched.
“The delinquency levels on banks credit card portfolio have increased in the range of 10-15%, from 5-8% around one year ago. There was an added aggression in the credit card space in India, with new entrants, such as Axis Bank, Deutsche Bank and Barclays Bank, entering this space,” said the same payment company official.
In addition to raising rates, banks are also going slow in adding new cardholders.
SBI’s Gupta said, “Our delinquency level is in the range of 15-20%. We are taking steps towards aggressive collection and also looking at reaching settlements with customers.”
According to him, the environment is getting tough with customers’ disposal incomes coming under pressure. “We are consciously cutting back on sourcing (of new customers) as we have seen the delinquency rate go up in tier II and tier III centres,” Gupta added.
Seeing a rise in its non-performing assets in the credit card portfolio, Axis Bank Ltd, a relatively new player in the segment, has stopped growing the business and is rejigging the portfolio.
“We are now focusing on our existing bank customers. The rising inflation has hard hit customers who borrowed money to enjoy a vacation, or sundry purchases,” said Hemant Kaul, president (retail banking) at Axis Bank.
Sandeep Bhalla, business manager (cards) at Citibank, also agreed that the macro-economic environment and inflation have made credit card funding costs more expensive and delinquencies, too, have been on the rise.
“Even so, we are maintaining the majority of our cardholders at their current rates,” Bhalla said. “At times, with changing market conditions and customer behaviour, a selected few customers may also see some upward movement in their rate.”
R.L. Prasad, head of credit cards and personal loans at Standard Chartered Bank, said the industry is witnessing stress in some segments where customers may have been over-leveraged. “Overall, profitability of the industry has come under pressure due to several factors, including erosion of annual fees, margin compressions, and funding and rising credit costs.”
Rating agency Crisil Ltd, in its report titled Retail Assets a Case for Caution, Not Alarm, released early this year, said there has been a deterioration in asset quality of personal loans and credit cards receivables. Crisil expects a further decline in asset quality of these portfolios on account of “over-leverage by customers and the entry of players in under-banked geographies”.


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Group forms to fight biofuels
A coalition of retailers, environmentalists and hunger organizations is mounting a campaign to undercut congressional mandates to produce billions of gallons worth of food-based fuels.
Backed by U.S. Rep. James McGovern, the Food Before Fuel Campaign argues that corn grown to produce ethanol has become more common on land that’s traditionally been used to grow food crops, sending prices for corn, soy and other farm products soaring. The spike in cost has strained American consumers, they say.
Organizations such as the Greater Boston Food Bank, the Retailers Association of Massachusetts, the Massachusetts Food Association, the Massachusetts Restaurant Association and the New England Small Farm Institute say they hope to end subsidies for food-based fuel, stop food inflation and highlight the strains on retail and restaurants groups who are passing higher costs on to consumers.
The launch of the effort occurred outside the State House and comes as the Legislature prepares to continue debate on a bill to promote the use of certain biofuels as an alternative energy source, eliminating the gas tax on such fuels and creating incentives for production.
“Food should be used primarily to fill people’s bellies, not their gas tanks,” McGovern said at the rally.
McGovern said congressional mandates, passed last year in a federal energy law, require the production of tens of billions of gallons of food-based ethanol over the next few years.
McGovern, Congressional Hunger Center chairman, has advocated instead for “advanced biofuels,” those made from waste products, wood chips, switchgrass and other non-food products. These fuels, also known as “second-generation” or “cellulosic” biofuels, are the focus of the Massachusetts legislation.
Although technology hasn’t advanced to the point at which second-generation biofuel may be used on a large scale, McGovern said Massachusetts should look to its strong academic community to help advance the science.
Brooke Coleman of the New Fuels Alliance blasted the coalition as a façade for protecting corporate profits. Despite the problems with food-based biofuels, Coleman said their existence had kept gas prices down between 15 and 25 percent, about $500 annually for the average American consumer.
Although food prices might be lowered with the elimination of corn-based ethanol, Coleman said, the average consumer savings on food of $15 or $20 a year would be offset by a steep rise in gas costs.
Andrew Schuyler, director of the Boston’s Northeast Biofuels Collaborative, said spikes in food prices were largely attributable to competition from China, drought and mismanaged trade policies, not biofuels.


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Talent management solutions company Lumesse has appointed former Dell Inc. executive Thomas Volk as its new CEO, the firm announced on Tuesday. Mr Volk previously led Dell’s commercial business in the UK, France and Germany.
Known as an enterprise technology executive, he started his career with HP in Germany and the UK before moving to the US, where he spent over five years in a variety of global sales and marketing roles. In 2006, he took the role of CEO at IDS Scheer, a business process management software and SAP services solutions company.
Lumesse, which changed its name from StepStone Solution in 2011, is based in the UK, but operates worldwide. The firm provides talent management software to help companies manage employee recruitment, performance evaluation and promotion plans.