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#DeFi #contracts #DApps #cryptocurrency #DAO #NNS #SNS #blockchain #InternetComputer #DFINITY
“Monday, 29 November the DFINITY Foundation announced that a proposed upgrade to expand support for all canister smart contracts to be able to hold and transfer ICP tokens has been adopted and is already live on the network. The community voted 309,936,205 (approve) to 20,561 (reject) on proposal 31471” — Paul Ebeling
Dominic Williams, chief scientist and founder of DFINITY, said, “The Internet Computer blockchain is the only blockchain that truly scales, runs efficiently at web speed and where smart contracts can serve web experiences directly to end users without the need for other services – such as cloud computing, which provides much stronger censorship resistance.
Now [that] the community has adopted this proposal, and the Network Nervous System DAO has upgraded the network, canister smart contracts on the Internet Computer have become able to hold and transfer ICP tokens for the first time – providing for the development of a new generation of DeFi and the blending of DeFi with social media and games functionality in the form of SocialFi and GameFi, forging the path towards billions of end users.”
Legacy blockchains perform disruptive, divisive ‘hard forks’ or require centralized coordination by its validators to upgrade their protocols. Due to Chain Key cryptography and breakthroughs in computer science, the Internet Computer is the only public blockchain that allows its community of token holders to vote on governance proposals, and the ICP protocol automatically upgrades itself via the Network Nervous System (NNS), a super-advanced DAO.
The ICP transferability upgrade has been eagerly awaited by Internet Computer developers. At a basic level a DApp is a decentralized version of WhatsApp, will soon be able to allow users to send ICP tokens to one another via instant messages.
Because smart contracts on the Internet Computer run at web speed and can serve web experiences directly to users, this functionality also heralds the advent of decentralized exchanges that run entirely on a blockchain – without the need for cloud nodes to process trades or create the front-end for users.
Imagine Uniswap running completely on-chain. A community developer recently unveiled a Uniswap front end on the Internet Computer, showing how conventional DeFi solutions can fully run on blockchain technology.
Mike Schwartz, co-founder at ORIGYN Foundation, a digital certification and authentication platform recently valued at $300-M said, “The Internet Computer is the world’s fastest public blockchain at 250,000 queries per second and 11,500 transactions per second, which is over 11 times faster than Solana. The ICP transferability upgrade has been a high priority feature needed by entrepreneurs and developers to activate DeFi, and after the community adopted the code, the Internet Computer automatically upgraded itself – no hard forks or disruptions to operations.
The possibilities are endless when you combine the fastest blockchain with advanced DeFi capabilities. For ORIGYN, the Internet Computer’s advanced technology matches our massive ambitions and AI-based technology to authenticate every luxury good, art and NFTs on a sovereign blockchain – and in doing so, eliminate counterfeiting as we know it.”
The execution of this feature is also an important step toward the implementation of DApp tokenization on the Internet Computer. An upgrade proposal for the critical Service Nervous System (SNS) feature is already under discussion within the community.
DFINITY is also currently working on directly integrating the Internet Computer with the Bitcoin network, which will leverage the combined strength of Bitcoin as the world’s digital gold reserve and the Internet Computer as a platform for securely and efficiently executing smart contracts.
The Internet Computer has attracted thousands of developers and hundreds of thousands of users of its DApps within just a few months of its launch in May 2021.
Hundreds of projects are already up and running with users on the Internet Computer, including DeFi, DAOs, SocialFi, GameFi and NFT projects.
Bob Bodily, chief product officer at Toniq Labs, said, “This upgrade to allow canisters to transfer ICP is significant for the Internet Computer ecosystem because decentralized exchanges on the Internet Computer can now spin up liquidity pools to convert ICP to other Internet Computer-based tokens, and NFT projects can securely launch on their own websites – opposed to NFT marketplaces.
The impact of this upgrade is enormous, and with these newfound advanced capabilities for DEXs and NFTs alone, I expect hundreds of new ways to invest ICP over the next few weeks. For Toniq Labs, the ICP transferability upgrade allows us to one, perform secure NFT auctions on our Entrepot marketplace, two, enable bidding on NFTs that aren’t even listed on our marketplace and three, release our NFT minting and marketplace APIs to enable developers to use our services in their own decentralized applications.”
This wk, the Internet Computer blockchain surpassed 345 million blocks, which have been added since mainnet launch less than seven months ago. It also recently reached a record high of 28.13 blocks per second – by far the highest throughput in blockchain. While this number reflects how the Internet Computer has already scaled to provide vast capacity, throughput is expected to scale beyond 100 blocks per second early in Y 2022.
The Internet Computer is the world’s most powerful general-purpose blockchain and web 3.0 platform. Its protocols apply advanced cryptography and computer science to scale smart contract data storage and computation without limit, host web-speed smart contracts that can directly serve web experiences to end users without the cloud and run smart contracts with breakthrough levels of efficiency. For the first time, developers can create truly decentralized DApps and services that run entirely from the blockchain and push into emerging areas such as SocialFi and GameFi, which blend social media and game functionality with DeFi, and build out the fully decentralized metaverse.
The Internet Computer blockchain acts as a complete alternative technology stack, which has been designed to replace the centralized IT stack that is mostly controlled by Big Tech, and it can even be used to build secure and unstoppable websites and enterprise systems. It was incubated and launched by the DFINITY Foundation.
Have a prosperous day, Keep the Faith!


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Electronic payments company Ixaris wants to champion the creation of payment applications with the launch of its Secret Path developer contest. Launched at the Web 2.0 Summit last week in San Francisco, the competition targets developers building payment applications on the Ixaris Opn platform for social media networks, mobile devices, or e-commerce sites.
Compatible with the Visa, MasterCard, and SWIFT networks, the company is offering a total of $10,000 in cash prizes and the first 50 developers to participate will receive $100 transferable around the world in small amounts using their applications.
Ixaris says it has hidden 100 virtual "treasure chests" around the globe. Should an exchange of money take place between the coordinates that transect the point where a treasure is buried, both the sender and the receiver win from $10 to $500.
"If a treasure chest is buried between New York City and Shanghai and an exchange of money takes place on Facebook between those two coordinates, the treasure will be shared between the sender and the receiver of the money," according to Ixaris.
The technology behind Ixaris Opn's mashable payments services is designed to allow developers to build payment apps and profit from embedding these applications into websites. The company says that developers can customize, combine, and link to re-usable payment components called "Paylets" in order to create fully branded payment applications.

domain: news


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Speaking to VentureBeat at E3 last week, Take-Two boss Strauss Zelnick has said that one of his main challenges since taking over at the firm has been to deliver a business that's stable in the "off" years from GTA - and he feels as though he's close to achieving it.
"We aren’t giving guidance for 2009 yet," he said. "But I feel very good that we can deliver on that goal of a profitable enterprise even in non-GTA years.
"Look at our array of hits and owned intellectual property. We have 30 million-plus selling titles, 15 of which are fully owned. BioShock. Carnival Games. Our entire 2K sports line-up, like NHL, MLB, and NBA. TopSpin tennis. Carnival Games for the DS and Carnival Games for Mini Golf. Civilization is out in the market now and doing extremely well. Midnight Club LA is coming up and the list goes on.
"It’s just not true that we are only about GTA."
Lots more through the link, and very much worth a read.


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It wasn’t so long ago that artificial intelligence (AI) in banking seemed futuristic. Now, AI in banking is officially mainstream as use cases mature from nice-to-have, cutting-edge options into day-to-day capabilities that offer concrete benefits and extraordinary savings. It’s about efficiency, speed, data, and insights that just weren’t possible before.
The trend toward AI is continuing to gather steam for megabanks, fintechs, and traditional financial institutions (FIs) alike. According to Business Insider:
- 80% of FIs are “highly aware” of the benefits of AI and machine learning (ML)
- 75% of banks with more than $100 billion in assets are currently implementing AI
- 46% of banks with less than $100 billion in assets are currently implementing AI
Regardless of the FI’s asset size, it’s abundantly clear that AI is the future of digital banking. By 2023, FIs are projected to save $447 billion by using the power of AI, the majority of that being derived from user-facing apps, like chatbots, and back-office efficiencies, like fraud prevention and risk mitigation applications. These projected cost savings solidify the importance of artificial intelligence in banking.
Exceeding User Expectations with AI
Today’s consumers and businesses expect convenience and seamless, digital experiences. In our everyday lives, we can easily order groceries, schedule appointments, and stream media all with a click of a button. To retain and attract account holders, it’s crucial for FIs to deliver an intuitive digital banking solution, putting the power at their fingertips. Rather than just meeting their expectations, FIs should look to elevate the user experience (UX) to compete with megabanks and neobank challengers. So, how can FIs leverage AI in digital banking today?
Virtual Financial Assistants
The idea of chatbots is not brand new. They’ve been around since users began adopting online banking. However, chatbots have evolved far beyond a simple application that answers banking questions 24 hours a day to a well-trained virtual financial assistant used to enhance the UX. Now, FIs can reduce call center volume and costs with an intuitive solution that seamlessly transitions between self-service customer service tools to live agent interactions. With a variety of omnichannel engagements, users can find the best tool for their needs, whether that be AI-powered chatbots, voice-activated transactions, or video interactions.
When was the last time you paid for, well, anything with cash or a check? Increasingly, we’re moving away from using a physical credit card to simply tapping our phones to buy just about everything. With all of these digital transactions, the need for cybersecurity and fraud detection has ramped up exponentially. But this isn’t just to protect account holders who fall victim to credit card theft and suddenly find two first-class tickets to Vegas on their monthly bill. It’s for FIs themselves, too. Fraud loss spans more than monetary loss, it can brutally damage the reputation and brand of the FI.
In 2021, consumers alone lost $5.8 billion as a result of fraudulent activities, a 70% increase over the previous year (CNBC, 2022). An alarming jump, causing the industry to ramp up AI protections. It’s no question that consumers and businesses alike, want their FI to protect them from suspicious activity, but they don’t want security measures that will create additional user friction. Fight fraudsters without compromising your UX with security & fraud protection tools safeguarding account holders from account takeover powered by biometrics, monitoring fraud attempts, and seamlessly authenticating users with push notifications in-app.
AI Predictive Modeling
With AI, FIs can analyze account holders’ everyday transactions and their utilization of banking products. What FIs can derive from this data is a set of insights that paints a holistic picture of an individual’s financial life. By analyzing data about their purchases, FIs can get a clear view of an account holder’s financial priorities, spend patterns, and held-away activity. Those everyday purchases are extremely predictive of a user’s future spending behavior, allowing an FI to offer relevant products at just the right time. Predictive audiences can also be created for many different business cases, like personal loans or attrition modeling. Alkami’s AI modeling technology takes into consideration which users left the institution and users who may go delinquent on a loan to predict those likely to follow a similar pattern in the future.
By leveraging all of this data paired with AI, FIs can be more productive and deepen the account holder experience in an age when few people visit the branch. This enables FIs to provide intelligent, curated guidance to support account holders on their journey to financial freedom.
The Secret to Unlocking Value From AI
While FIs understand the urgent need to incorporate AI and ML technology into their day-to-day business operations to implement a successful growth strategy, FIs should ensure their automation capabilities are balanced with compliance requirements. Otherwise, it opens the FI up to greater risk for their account holders, brand, and reputation in the industry. Consulting with Legal, IT, and other departments across the organization creates alignment and allows for the group to agree upon a strategic approach to who their technology provider should be and how the FI can implement the technology into their digital banking platform. Furthermore, this cross-functional collaboration will enable FIs to maximize their AI capabilities using their most valuable asset: data.
Being competitive in the marketplace is about more than just implementing the hottest banking technology trend. It’s about creating less friction for users, alleviating manual processes for back-office operations, and improving data accuracy. With AI-powered virtual financial assistants providing around-the-clock customer service, users will feel their needs are being met, in turn growing institutional loyalty and overall account holder satisfaction. Pairing this 24/7 service with automation allows FIs to reduce human error and improve their marketing approach by targeting their account holders with relevant, timely offers leading to more personalized engagements and successful cross-sells. Predicting users’ needs will increase product adoption, enabling you to stay top of mind and achieve primary FI status.


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Fitness Startup Peloton Acquires Atlanta Music Company
Friday, June 29th, 2018
Peloton, the technology company revolutionizing the fitness category, announced its first-ever acquisition with the purchase of Neurotic Media LLC, an innovative Atlanta-based digital music aggregator, streaming and download source. Founded in 2001 by music industry veteran Shachar “Shac” Oren, the B2B music platform will enable Peloton to provide its Members with an enriched music experience. Oren will become a Vice President at Peloton, while retaining his role as CEO and President of Neurotic Media, whose team and offices remain in Atlanta and continue to operate as a standalone subsidiary serving third party clients. Oren will report to Paul DeGooyer, Peloton’s Head of Music.
This announcement marks a major milestone as Peloton further solidifies its industry leadership in fitness technology and media, delivering best-in-class content to a growing audience worldwide. Integrating Neurotic Media’s technology and innovations into Peloton’s platform will bring unprecedented functionality to Members, enhancing their experience.
“Our Members have embraced music as central to the Peloton experience and consistently rank it as one of the top aspects of the brand,” said DeGooyer. “The addition of Shac and his amazing team to the Peloton family will help us rapidly deploy new music features we know our Members want, along with some unique innovations we think they’ll love.”
“We’re proud to join Peloton’s world-class team, and excited to help bring the kind of Member experience breakthroughs the brand is known for to their already powerful music solution,” added Neurotic Media’s Oren. “Peloton’s platform, instructors and community present a rich environment for music ideation and innovation. We’re looking forward to amplifying Peloton’s technology to help Members achieve their fitness goals while discovering great music along the way.”
This acquisition comes on the heels of a number of notable announcements including: the launch of Peloton Digital, an expanded Peloton iOS app; the announcement of international expansion, beginning with the United Kingdom and Canada this Fall; May’s opening of the new Peloton Tread studio in NYC; as well as the announcement of a massive multi-studio space to open on Manhattan’s West Side in 2019.


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The former dean of the University of Southern California’s education school directed administrators to omit information from its U.S. News & World Report rankings submission to boost the school’s placement at least as far back as 2013, according to an investigation released Friday by the university.
Last month USC said it was pulling the Rossier School of Education from consideration in the U.S. News & World Report graduate-school rankings, citing data errors going back at least five years. It asked the law firm Jones Day to investigate.
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No break for viruses at CES
Viruses aren’t going away any time soon. In fact, they’re going to worsen as hackers become savvier and devices proliferate. Each new device on the market provides hackers with new opportunities.
Panda Software and McAfee were among the antivirus vendors presenting new product lineups for 2006 at the Consumer Electronics Show this week in Las Vegas.
McAfee’s product family includes VirusScan Mobile for devices such as personal digital assistants and smart phones, which combine PDA and mobile phone technology into one device.
VirusScan Mobile offers constant protection without interrupting wireless connections as it identifies and removes viruses, Trojans, worms and other malicious applications.
It also offers malware detection at multiple entry and exit points including e-mail, instant message attachments, Internet downloads, Short Message Service, Wi-Fi and Bluetooth.
Other products in the McAfee 2006 product line include the Internet Security Suite, SpamKiller, AntiSpyware, VirusScan and Personal Firewall Plus.
Meanwhile, Panda Software’s new product line includes Panda Platinum 2006 Internet Security, which offers protection against spyware and phishing and a personal firewall capable of detecting intrusions in wireless networks.
It also includes new anti-spam technology to block junk mail, systems for safeguarding privacy and controlling access to Web pages, and an optimized signature-detection engine that boasts improved efficiency.
The product also offers protection against unknown malware with technology that can proactively block new threats by analyzing their behavior.


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The auto parts and automotive maintenance industry is about as tough as a NASCAR race at Richmond. With a host of competitors trying to take the checkered flag of the lucrative oil-change market, it's amazing that Monro Muffler Brake
With the instant variety coming from the likes of Jiffy Lube, a wholly owned subsidiary of Royal Dutch
Auto parts just don't do it for you? That's too bad, because Monro's stock has increased sixfold since 2000. This hotrod investment has been flooring the accelerator for years now, and the latest quarterly figures suggest the company isn't hitting the brakes anytime soon.
Monro finished strong in fiscal 2005, and it's looking good at the start of fiscal 2006. For the first quarter, revenues increased to a record $94.6 million, up 8.3% from the same period a year ago. Comparable same-store sales have increased 1.7% as the company continues to highlight strength from its oil-change service. New stores contributed $7 million to top-line growth.
Fortunately, Monro isn't sacrificing profit levels for growth. Its gross and operating margins continued to improve, resulting in a 13.2% increase in net income to a quarterly record of $7.7 million.
If there is one area where I'd like to see further improvements, it's the balance sheet. With a mere $3.6 million in cash and equivalents and $47.3 million in long-term debt, the company is handcuffed a bit when it comes to flexibility. Valuation remains another concern. The company is comfortable with estimates of $1.52 to $1.60 in earnings per share (EPS) for fiscal 2006, which means that at the recent stock price, it is currently trading at a forward P/E of about 19. Given the realized growth rates investors are seeing so far, $30 is no bargain for a share of Monro.
We've tuned up further Foolishness:
Fool contributor Jeremy MacNealy does not own shares in any of the companies mentioned.


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UK firms pick over the rubble
Sunday 18 January 1998
While some projects in the South-east Asian nation are being put on hold, some firms are optimistic that rich pickings can be found among the rubble.
Dozens of British companies have piled into Indonesia in recent years, attracted by one of the highest growth rates in the world, low wages and 200 million potential customers.
UK direct investment in the country last year topped $5.5bn (pounds 3.4bn) according to the Indonesian Investment Co-ordination Board (IICB). The UK was the biggest investor in Indonesia in 1995, the second biggest in 1996 and the biggest again last year, according to figures provided by the IICB and the Department of Trade and Industry.
Ambitious plans by BAA to take over the management of Bali airport have now been scrapped. British Steel has also delayed indefinitely a $750m investment in partnership with Indonesia's Bakrie Group to build a mini- mill in Indonesia capable of producing 1.5 million tones of steel plates a year.
Spokesman Mike Hitchcock said one of the main reasons for the delay was "whether the country would be able to finance big infrastructure projects that would use steel". Earlier this month the Indonesian government suspended 15 big infrastructure projects worth billions of dollars as part of its programme to slash government debt.
British Steel also fears Indonesia will start producing its own steel for export.
Other manufacturing companies with factories in Indonesia believe the devaluation of the local currency could benefit them. Porcelain maker Royal Doulton has a pounds 15m factory just outside Jakarta.
"We don't seem to have been troubled by the current problems" said Peter Walley, Royal Doulton's finance director. "Going forward, providing we don't have rampant inflation, it's good news. It's going to be cheaper producing there."
Courtaulds, the chemicals and textiles firm that runs a toothpaste tube factory in Indonesia in conjunction with Unilever, is also quite calm.
"We will obviously lose when translating profits back to Britain. But, providing the economy can be sorted out, it's not all bad news because we are a domestic supplier," said company economist Donald Anderson.
For Unilever, which has been present in the country for 64 years and which produces consumer products such as soap and shampoo for the Indonesian market, the financial crisis has thrown up another unexpected problem - illegal smuggling of its products to other parts of Asia where they are now more expensive. As well as undercutting the company in other markets - especially China and Malaysia, where Unilever also has manufacturing operations - the increase in smuggling also means stocks are short in Indonesia.
In 1997 Unilever's turnover in Indonesia totalled $700m. The company is in a good position to take advantage of the Asian financial crisis.
"When things settle there will be a number of ailing companies. We will certainly be looking around for alliances and acquisitions, and I am sure there will be others doing the same thing," said Desmond Dempsey, commercial director for Unilever Indonesia.
The Dutch, Indonesia's former colonisers, have already jumped in with the purchase by Nutricia, Europe's biggest baby food maker, of a 50 per cent stake in Indonesia baby food maker Sari Husada for 328.9bn rupiah (pounds 23m).
"A lot of companies, British and otherwise, are having a close look at the new opportunities," said one Jakarta-based analyst.
"Over the next six months we will see a lot of people sneaking in and buying stakes in local companies. The big worry for anyone picking over the rubble is not to get something saddled with massive debt."
Business opportunities have also increased for British security and parcels delivery firm Securicor, the biggest security company in Indonesia.
"The possibility of social unrest is making people nervous about their operations," said one company employee - who didn't want to be named.
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Tag - VEVO
The Weather Channel app for iPhone has received an update, offering a redesign for iOS 7 and new features. Its previous all-in-one overview layout has been replaced by various information displayed each on a separate page that can be swiped though. The Weather Channel app has added a new airport mode, that provides users with information about flight delays and cancellations due to weather. A new social component allows users to submit weather reports and photos of their own. The Weather Channel app is free to download through iTunes.
London-based startup TransferWise has launched a native Android app, allowing users to transfer money between currencies. A peer-to-peer service, TransferWise facilitates direct money transfers to users in other countries. Six months earlier, TransferWise had released an iOS native app, with the "app" for Android users available on Google Play until today being only a shortcut to its website. Free to download, TransferWise for Android is compatible with Android 2.3 or later.
All of the video streaming at this week's iTunes Festival SXSW in Austin, Texas is being handled by Vevo, the online music service has announced. Live streaming starts tonight and runs through March 15th. To view a concert, people must have a Mac, an Apple TV, or an iOS device with the Vevo or iTunes Festival apps. Mac owners must visit vevo.com/itunesfestival using Safari.
Apple has quietly updated Germany Apple TVs with access to the official NHL and Vevo apps, reports say. The Vevo app a relatively recent addition to the Apple TV platform, having debuted in the US in August. The NHL app, though, dates back to 2011, and has already reached a number of other countries, making its German introduction unusually late.
Apple has pushed a silent update to the Apple TV, adding a number of extra apps to the set-top. As anticipated, one of the them is Vevo's music video service. Also new though are Disney Channel and Disney XD, the Weather Channel, and an app from the Smithsonian.
Vevo has pushed out updates for the iPhone and iPad versions of its music video steaming app. Along with some minor bug fixes, the updates also introduce full AirPlay streaming support. The updates come less than a week after rumors of a native Vevo Apple TV app surfaced. According to Advertising Age the app will give Apple TV users access to the company's 24-7 music video channel. Vevo TV, which launched in March, offers an alternative method to finding and watching videos from the traditional web search.
Music video company Vevo is at work on a native Apple TV app, according to sources. The people say that the app will feature 24/7 music videos, as on Vevo TV, an existing service for the web and devices like the Xbox 360. The Apple TV app may additionally display ads formatted specifically for televisions.
In an attempt to get some more users hooked on its premium Xbox Live subscription service, Microsoft will offer it for free for five days, commencing on Thursday, April 19, and running until Monday, April 23. Partners like Hulu Plus, Netflix, and EPIX will also open their doors for free during the same time period. Depending on where users are, however, they will get various amounts of free app access during those five days.
Vevo has brought its music video library to the Xbox 360, enabling users to access more than 45,000 titles. The content is available in HD resolution and for free, through an ad-supported app that supports Kinect navigation.
Vevo, a joint venture owned by several major music labels, has been accused of streaming a pirated NFL game at an event the company hosted during the Sundance Film Festival. Attendees were reportedly able to watch a football playoff game featuring the Patriots versus the Ravens, however the video feed was being illegally streamed from the Spanish site TuTele.tv via sports stream aggregator Frontrow.tv.


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Volvo Penta acquires ZEM AS for maritime batteries
Volvo Penta has acquired a majority stake in ZEM AS, a Norwegian supplier of batteries and complete electric propulsion solutions for ships and boats. In doing so, ZEM is to further expand its battery and propulsion business and successively develop and offer complete packages in collaboration with Volvo Penta.
Volvo Penta has said that ZEM will retain its name and continue to operate under the leadership of long-standing CEO Egil Mollestad. Volvo Penta is the marine division of commercial vehicle group Volvo Group, which is currently investing in the electrification of buses, trucks and construction equipment.
Although, of course, Volvo Group’s marine division can also access the know-how with batteries and drives that includes the fuel cell laboratory based at Volvo Construction Equipment, “Marine electromobility, however, has a unique set of requirements” Peter Granqvist, chief technology officer, Volvo Penta explains. “There are very specific considerations that are of the utmost importance around the installation environment, safety, as well as the use case itself plus the current lack of charging infrastructure.”
ZEM was founded in 2009 as a consultant to the maritime and offshore sectors to develop battery and hybrid solutions. Today, the company has delivered battery solutions for many different applications, from ferries, offshore supply vessels and high-speed passenger ships to lifeboats and the booming aquaculture sector, according to Volvo Penta.
“Joining forces with Volvo Penta marks the start of an exciting new phase for ZEM,” says Jan-Olaf Willums, founder of ZEM. “Our two companies are aligned on such core values as safety and environmental protection and we both have that Scandinavian pioneering spirit! Volvo Penta’s name and market reach will help propel us into new electromobility markets supporting our growth.”
Zero-emission marine applications have enjoyed increased focus over the past few months since, in September last year, the European Parliament voted for the inclusion of CO2 emissions from maritime shipping in the EU Emissions Trading Scheme to decarbonise naval transport. The EU Parliament is currently in negotiations with the EU states on concrete legislation.
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The new Scalio web marketing platform built for Casper Labs unlocks the potential to improve brand awareness, marketing opportunities, & operational efficiency
SAN FRANCISCO, CALIFORNIA, UNITED STATES, March 2, 2023 /EINPresswire.com/ — Scalio, a digital product agency, is proud to announce the successful launch of a rebranded custom web platform for Casper Labs, a leading blockchain technology company specializing in enterprise adoption. Some trusted partners of Casper Labs include IBM, AWS, IPwe, Metacask, Consensys Capital, and the Blockchain Network for the City of Chengdu, China.
The Casper Labs web marketing platform, which was developed by our team of technologists, features a sleek and modern design that highlights the company’s innovative products and services.
This project builds on a longtime partnership between firms – in 2021, Scalio supported the launch of the Casper network token, which was the most successful Mainnet launch in the history of CoinList.
Today’s rebranded web marketing platform with custom content management system (CMS) includes detailed information about Casper Labs’ cutting-edge technology, services, and solutions offering and their potential to revolutionize the way businesses operate. Visitors can also learn about the company’s team of experts, who are dedicated to advancing blockchain technology and leading the conversation on how blockchain can be applied across different industries.
“We are thrilled to have had the opportunity to work with Casper Labs on the launch of their rebranded web marketing platform,” said Bradley Greenwood, CEO of Scalio.
”Our team of technologists crafted the positioning, information architecture, development, design, and overall digital strategy of the web marketing platform to ensure that it effectively communicates the value of Casper Labs’ products and services, and we are excited to see how it evolves over time and brings their company new partnerships and business development opportunities.”
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Yahoo said it would appoint three new independent directors to its board in April, including an executive from American Express.
With the new additions, plus the departures of four other directors who have said they will step down at Yahoo's (YHOO) annual shareholder meeting this summer, the board will be composed of 10 members who joined since 2010.
In January, Yahoo hired the chief executive of eBay Inc.'s (EBAY) PayPal unit, Scott Thompson, to be its CEO.
The board overhaul has been under way for several months. Company co-founder Jerry Yang left Yahoo's board earlier this year, and two new directors were added, including former eBay executive Maynard Webb.
Yahoo's three new directors are John D. Hayes, an executive at American Express (AXP); Peter Liguori, a former chief operating officer of Discovery Communications (DISCA); and Thomas J. McInerney, outgoing chief financial officer of IAC/InterActiveCorp. (IACI)
Yahoo Chairman Roy Bostock, who is among the outgoing directors, said in a statement, "We have reconstituted the board of directors with the right mix of experience and expertise to help Yahoo build upon its very strong assets and brand base."
On Sunday, Yahoo also said it was unable to reach a compromise with Dan Loeb, whose Third Point hedge fund owns more than 5% of Yahoo.
Mr. Loeb has been agitating for a board overhaul since last fall, and has nominated himself and three others to join the board.
Yahoo said it was willing to bring aboard one of those picks, restructuring expert Harry Wilson, plus a different candidate that would be mutually acceptable to both Mr. Loeb and Yahoo, but Mr. Loeb rejected the idea.
Mr. Loeb's fund said in a statement Sunday that it was disappointed by Yahoo's moves and that it intends to continue pursuing a proxy fight.


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Karl Lagerfeld is set to launch a beauty line with ModelCo titled Karl Lagerfeld + ModelCo, which will be released next year.
Karl Lagerfeld is set to launch a beauty line with ModelCo.
The 83-year-old fashion designer launched his eponymous fashion range K Karl Lagerfeld in 2005 and is set to expand his brand to include a cosmetics collection under his partnership with the Australian make-up label, WWD has reported.
The Karl Lagerfeld + ModelCo capsule is believed to be based on the theme of Illuminated Beauty, and the fashion house hope to translate Karl's ''vision and aesthetic'' into ''unique cosmetics'' with the limited edition products.
Speaking about the creative mastermind's new venture, the chief executive of Karl Lagerfeld, Pier Paolo Righi, said: ''Through this collaboration, we can offer our consumers a glimpse into how we translate the Karl Lagerfeld vision and aesthetic into unique cosmetics.''
And the company are keen to develop the collection by combining their ''signature DNA'' with ''cutting-edge'' make-up.
Pier added: ''We look forward to developing the collection and combining our signature DNA with innovative, cutting-edge beauty products for all women.''
ModelCo have previously collaborated with models Elle Macpherson, Rosie Huntington-Whiteley and Hailey Baldwin in previous years, but they are honoured to join forces with Karl's namesake brand and they have described the range as a ''superfun, highly coveted and collectible collection''.
The founder and CEO of ModelCo, Shelley Sullivan, said: ''This superfun, highly coveted and collectible collection will combine our high-quality formulas and innovative, technical packaging with Karl Lagerfeld's unmistakeable artistic aesthetic that's sophisticated, modern and cool.''
The Karl Lagerfeld + Model Co exclusive range will be unveiled next year, and the products will be available to buy worldwide at Karl Lagerfeld stores, as well as at leading beauty stores, online at both Karl Lagerfeld and ModelCo's e-stores.
Once a fire fighter, always a fire fighter.
Today (September 14th) marks the 25th anniversary since the album's 1993 release.
Labrinth has teamed up with Sia and Diplo to form a new supergroup: LSD.
The Struts teamed up with Kesha for a red and gold themed music video as part of their collaboration on 'Body Talks'.
Sometimes actors are not acting.


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Customers shop inside the clothing retail outlet Uniqlo on Thursday in Paris.
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Foreign companies with nationals working in Bangladesh's garment and building industries have suspended travel to the country and told workers there to stay at home after a deadly attack by Islamist militants on a restaurant in Dhaka Friday.Fast Retailing Co, the Japanese owner of the Uniqlo casual-wear brand, said it will suspend all but critical travel to Bangladesh and has told staff there to stay indoors.Bangladesh's $26 billion garment industry has been bracing for the fallout of Friday's killings, fearing major retailers from Uniqlo to Marks and Spencer and Gap could rethink their sourcing plans after the latest attack targeting foreigners.One of the world's poorest countries, Bangladesh relies on garments for around 80 percent of its exports and for about 4 million jobs, and ranks behind only China as a supplier of clothes to developed markets like Europe and the United States.
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This was contained in a report on Export of Wood Products in March 2011, released by the Timber Industry Development Division (TIDD) at Takoradi on Tuesday.
The report said corresponding figures for the same period in 2010 were €13,098,563 from 39,249 cubic metres.
This shows decreases of 15.4 per cent in value and 15.08 per cent in volume respectively.
It said the wood products were exported to emerging markets in Asia and the Far East including India, Malaysia, Taiwan, China, Singapore and Thailand.
The report said the some products were also exported to the United States and the ECOWAS countries mainly, Nigeria, Senegal, Niger, Gambia, Mali, Benin, Burkina Faso and Togo.
They were exported to Middle East countries notably Saudi Arabia, Lebanon, United Arab Emirates and Israel.


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Last week, the Office of Governor Pete Ricketts announced that he would highlight October as Manufacturing Month in Nebraska during visits to manufacturing companies across the state. The Governor is being joined by members of the Nebraska Chamber of Commerce and Industry to tour manufacturing companies that have been contributing to the state’s standout growth across the sector.
Small businesses wanting to increase the value of their current exports or start exporting products for the first time can now apply for financial assistance through the Nebraska Department of Economic Development (DED).
Governor Pete Ricketts launched his Governor’s Cup thank you tour with a visit to Legacy Post and Beam in Fremont. Nebraska won the 2017 Governor’s Cup from Site Selection magazine for having the most economic development projects per capita in the nation.
By Governor Pete Ricketts
For two years in a row, Nebraska has been number one in the nation for new business investment. A few months ago, Site Selection magazine recognized our achievement by awarding Nebraska our second consecutive Governor’s Cup, an award they give to the state who has the most economic development projects per capita.


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By Tare Youdeowei & Elizabeth Uwandu
Undergraduates on Nigerian campuses have decried the recession in the country, adding that since the commencement of inflation, the cost of living on campus have skyrocketed beyond proportion. According to them, the austerity measure has brought about a decline in the students’ standard of living across the nationfs campuses.
The students who groan under the prevailing high cost of food stuffs on campuses, said that the economic hardship has brought about adjustments in their feeding lifestyle. Vanguard Learning investigations revealed that while some students reduce the portion of their three square meal, many could not boast of eating twice a day.
They added that the development has brought distractions to them, as they could no longer have full concentrations during lectures as a result of hunger. As a result of hunger, the sports men and women among them are now less active on campus to save some energy, just as the night clubbers are go less and the all night readers are sleeping more.
In his reaction, Eghosa Ahgo, a student of University of Benin, UNIBEN said the recession has caused the cost of a plate of food to double. He said: “A bowl of beans and bread, as well as a plate of soup with Eba used to sell for N150 and N200 respectively before, now they cost N350 and N400. We have now resulted to a meal a day barely suffices to attend classes and read after classes.
On her part, Favour Nwosu from Imo State University said that a plate of food is N250 in the school canteen and off campus. She said: gEven though they have not yet increased the cost, the quantity has reduced drastically. The rice is now half of what it used to be and the meat is slightly bigger than a seasoning cube, am not exaggerating! I havenft bothered to cook because the prices of things are expensive; a rubber of rice now goes for N1,600, red oil that we do not import is now N800 for 1.5 litres bottle as against N400 before the recession. I cannot even think of cooking anymore.h
For Chinedu Ikechukwu, a 200 level student, Faculty of Law, University of Lagos, the development is not funny. He said: “I now go for lectures on empty stomach or most times I make do with snacks. My lunch is usually between 1pm to 2pm at the canteen where I spend not less than N400. If I spend this amount on a meal how do I survive with other schools demands?”
Listen to Meme, 500 Level Law student in UNILAG. ‘’My anger is that food sellers have used the high cost of food stuffs as an excuse to exploit students by providing lower quantity and low quality food for triple the price.
I don’t cook, except when I cook noodles occasionally. I eat at the cafeteria. The problem now is that I can’t afford the exorbitant plate of food that is not even enough for me.. We are suffering from inflation and dearth of food items.
Besides, Israel Ibe, a 400 Level literature student of Imo State University, IMSU said that students whose live off campus are the worst who go hunger because the amount restaurants charge for a plate of food is unbearable.
Speaking on how boiled rice has become a hot cake on campus,, Ibe said: ‘’Boiled rice is one of the predominant food we student consume in owerri is rice. Right now, we can no longer buy rice, as a bag of rice now in Owerri is sold for N21,000 while a small peak milk cup is N130 .
“ Student now find it difficult to eat rice because the people selling rice in school restaurant sell smaller quantity than what they sold before on a normal day. Formerly, a plate of rice was sold for N200, but now we buy a plate of rice at N430.00.”


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2019/04/25 · The insurer said it now expects 2018 adjusted net earnings to be greater than $15.30 per share, up from its previous estimate of earnings of greater than $15 per share. Anthem shares were up nearly 1 percent in light premarket. 2017/04/26 · Anthem’s profits soared 44% to $1 billion in the first quarter, but wouldn’t rule out reducing its individual product offerings and service areas under the Affordable Care Act if the Trump administration and Republican-led. 2018/01/31 · Anthem Inc.’s stock rebounded after the health insurer’s forecast for a 2018 profit increase heartened investors who’ve been nervously watching big potential changes in the industry. The Indianapolis-based company’s earnings this year will exceed $15 a share, with the recent U.S. tax overhaul providing roughly a 15 percent boost to profits, Anthem said in a. 2019/01/31 · Anthem reported a higher-than-expected quarterly profit on Wednesday and the health insurer forecast 2018 earnings above Wall Street estimates, as it added more members and assumed benefits from recent U.S. tax.
Anthem Reports Fourth Quarter and Full Year 2018 Results Reflecting Strong Core Performance Fourth quarter net income was $1.61 per share, including net negative adjustment items of $0.83 per share. Adjusted net income. 2018/04/26 · Anthem reported strong profit growth as expenses fell slightly and revenue remained flat during the first quarter of fiscal year 2018. Anthem profits up 30% despite 1M decrease in enrollment Becker's Healthcare. 2019/09/30 · In depth view into Anthem Profit Margin Quarterly including historical data from 1998, charts, stats and industry comps. About Profit Margin Profit margin represents the percentage of revenue that a company keeps.
Anthem Inc. ANTM reported better-than-expected revenue and earnings for the fourth quarter of 2018, sending the stock up over 6% in premarket hours on Wednesday. Total operating revenues rose 3.8% to $23.3 billion from the.
2018/02/01 · Anthem profits skyrocket 234% Insurer plans to expand its Medicare Advantage market, building on the acquisitions of Health Sun and America's 1st Choice. Profit soared by 234 percent to $1.2 billion in Anthem's. 2018/05/08 · EA Made $5.1 Billion In Revenue for 2018, Anthem Still on Track for 2019 Release EA Sports big earnings By Seth Macy Posted: 8 May 2018 10:02 pm Electronic Arts reported its fiscal year 2018 revenue at over $5.1 billion. 2019/11/09 · Anthem Inc. annual stock financials by MarketWatch. View the latest ANTM financial statements, income statements and financial ratios. Bulletin Investor Alert London Markets Open in: Asia Markets Currencies US Market Home.
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Garena Free Fire has released a new set of redeem codes for Saturday, 21 May 2022. Gamers avail these redeem codes and use them to claim rewards and other in-game items, for free.
These freebies sometimes help you to enhance your performance in the game. However, all gamers are advised to check the validity of the redeem codes they are using. Invalid codes cannot be used to claim rewards.
Here is the list of Garena Free Fire redeem codes for 21 May 2022.


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American Apparel has fired its founder Dov Charney and is looking to oust him as president and CEO amid ongoing claims of sexual harassment.
The company’s board voted yesterday to strip Charney of his position, effective immediately following a 30-day cure period. As new co-chairman, Allan Mayer announced that American Apparel is ‘larger than one individual’. He said that the board’s decision to replace Charney grew out of an ongoing investigation into alleged misconduct.
"We take no joy in this, but the Board felt it was the right thing to do," Mayer said in a statement. "Dov Charney created American Apparel, but the company has grown much larger than any one individual and we are confident that its greatest days are still ahead."
Charney started the fashion retail business in 1998, which often uses sexualised adverts to sell American Apparel’s line of products. He reportedly walked around the office in his underwear and was sued in 2011 for allegedly posting nude pictures of three women on the internet.
The board has appointed John Luttrell as interim chief executive officer, who currently serves as executive vice president and chief financial officer, and will continue in those positions.
Allan Mayer and David Danziger have been appointed co-chairmen to replace Charney as chairman of the board, both have been board members since 2007 and 2011 respectively.
"We have one of the best known and most relevant brands in the world, with employees who are second to none; I believe we have a very exciting future," said Luttrell.
"Our core business—designing, manufacturing, and selling American-made branded apparel—is strong and continues to demonstrate great potential for growth, both in the U.S. and abroad. This new chapter in the American Apparel story will be the most exciting one yet."
Luttrell said American Apparel would remain committed to its sweatshop-free, Made in USA manufacturing philosophy.
The company said the move could leave it in default under its credit agreement, prompting discussion with its lenders.


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£6,000 scrappage grants to swap petrol cars for electric
Motorists could be given a £6,000 grant to trade in petrol or diesel cars for zero-emission models under government plans to reboot the economy.
It emerged yesterday that Downing Street was considering a vehicle scrappage scheme to cut roadside emissions while providing a boost to the beleaguered motor industry. The plan may form part of a speech to be made by Boris Johnson early next month, in which he will set out plans to revive the economy after the pandemic.
The proposals were welcomed by motoring and environmental groups, amid warnings that take-up of the greenest cars had been too slow in the UK. The latest industry figures show that 22,054 battery electric cars were sold in the first five months of this year. It


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Deeley Harley-Davidson Canada thanks the troups
Deeley Harley-Davidson Canada
Source: Deeley Harley-Davidson
TORONTO, Ontario– Deeley Harley-Davidson Canada will be holding its annual Canadian National H.O.G. Rally in the beautiful foothills of the Canadian Rockies from August 13 to 15.
While being focused on investing in the Company’s most loyal Customer base, namely the more than 50,000 National H.O.G. members, this event also offers a great opportunity for Deeley Harley-Davidson Canada to extend its thanks to the courageous, deployed Canadian troops. As part of the festivities, an estimated 800 participants will kick off a formal motorcycle parade at Canada Olympic Park on Saturday, August 15.
“I am constantly surprised by the generosity and the altruism that our H.O.G. members throughout the country show in their incessant efforts in fundraising and charitable events. So I will be extremely proud on our end to have the opportunity to be able to show a little corporate citizenship and unveil a motorcycle which will represent our ‘Thanks to the Troops’”, commented Don James, Chairman & CEO of Deeley Harley-Davidson Canada.
Photo Credit : Deeley Harley Davidson


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A view of the American Eagle Outfitters store in Arlington, Virginia.
Erin Scott | Reuters
shares of american eagle outfitters Shares fell in after-hours trading Wednesday after the company cut its full-year outlook.
The company cut its forecasts even though it matched Wall Street’s quarterly profit forecast and beat its revenue forecast.
The mall retailer now expects operating profit to be in the $250 million to $270 million range, beating its March forecast of a range of $270 million to $310 million. said to fall below. The company expects full-year sales to be flat to low-single-digit declines, lagging the flat to single-digit growth previously expected.
Sales trends slowed as the company’s second quarter began, and retailers factored this pattern into their guidance. The company’s executive creative director, Jen Foyle, said during an earnings call that she expects shoppers to buy more seasonal items as Memorial Day approaches and summer weather takes hold. .
Shares fell about 14% following the company’s earnings announcement after the market closed.
Here’s how the company performed in the three months ended April 29 compared to Wall Street estimates, based on a Refinitiv poll of analysts.
- Earnings per share: 17 cents adjusted, 17 cents expected
- Earnings: $1.08 billion vs. $1.07 billion forecast
American Eagle differed significantly from its competitors, including its eponymous and Airy brands. Abercrombie & Fitch. early Wednesday morning, Abercrombie stock soars American Eagle stock also rose after posting an unexpected gain and raising its outlook.
American Eagle lost its previous profit as it reported its own quarterly results after the bell, including profit declines. Net income was $18.45 million (9 cents per share), down approximately 42% from $31.74 million (0.16 cents per share) in the prior year period.
Total net revenues increased approximately 2% to $1.08 billion from $1.06 billion in the same period last year. Store revenue increased by 5%. Digital revenue fell 4%.
The company’s brands have had mixed results. Aery’s comparable sales increased 2% year-over-year, while American Eagle’s like-named brand comparable sales decreased 2% year-over-year.
American Eagle has made strides in inventory levels.including many retailers the goal, Coles others, I got stuck with too many products That’s because shipments have stalled in the supply chain and consumer tastes have drifted away from popular categories during the COVID-19 pandemic.
Inventory at the end of the quarter was $625 million, down 8% year-over-year.
CEO Jay Schottenstein said in a news release that the company hopes to restore operating margins and pursue profitable growth. He said the focus is on “inventory discipline, cost reduction and efficiency across the business,” especially in the context of challenging economic conditions.
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NEW YORK -- In a move to stem the flow of red ink, distressed Paul Harris Stores Inc. will shutter the doors of its downtown flagship in Indianapolis on Jan. 5.
Executives at the bankrupt retailer, which filed for Chapter 11 bankruptcy court protection on Oct. 15, were on vacation this week and unavailable for comment. A spokesman for the company said the closure is part of a package of "40 store" sites that have been targeted for closure. The decision to shutter some of its units is part of the chain's efforts to restructure its business and emerge from bankruptcy. It operated 307 units in 28 states at the end of October.
The 18,156-square-foot downtown site at the corner of S. Meridian and Washington Streets -- a high-rent district -- is too big and too pricy for the retailer's needs, according to the spokesman. "We've found that 4,000 square feet is what we really need," he said.
Since about mid-October, less than half of the unit's space -- about 8,000 square feet -- was used by the chain for its Paul Harris operation. Part of the retail space at one time also housed a J. Peterman in-store shop. As reported, Paul Harris bought the J. Peterman business for $10 million in March 1999, while J. Peterman Co. was still in bankruptcy proceedings.
The original J. Peterman catalog and store operation was known for its offbeat, eclectic assortments, nostalgic items from faraway places and vintage styles. The J. Peterman name gained national recognition after being parodied in the TV sitcom "Seinfeld." J. Peterman filed for Chapter 11 in January 1999.
Paul Harris's current tour of bankruptcy court -- the moderately priced chain previously filed for Chapter 11 in February 1991 and emerged in August 1992 -- does not include any J. Peterman assets. That's because the majority of the J. Peterman assets were sold for $4.3 million prior to the filing. Schottenstein Bernstein Capital Group purchased the intellectual property rights to the J. Peterman name for $700,000.
The spokesman said that the company elected not to close the downtown site until Jan. 5 to give customers time to make holiday returns and exchanges. After the closure, customers can make merchandise returns and exchanges at other Paul Harris stores.The eight employees who still work at the store will either be transferred to other units or obtain employment at the company's headquarters in Indianapolis. "No one [at the store] will lose their jobs," the spokesman emphasized.
Prior to housing the Paul Harris store, the site was the former home of National City Bank. According to the spokesman, the store still retains many of the original architectural features from when the bank was the tenant.
Meeting the same fate as the downtown Indianapolis store is a 14,000-square-foot unit in downtown Chicago at 430 North Michigan Avenue. The site, opened in March 1999, also housed a 1,500-square-foot area dedicated to a J. Peterman in-store shop.
Both stores and 38 others are up for auction under bankruptcy court auspices, according to Mike Matlat, the broker at Keen Realty who is handling the Paul Harris account. The auction is set for Jan. 10. According to Matlat, originally 50 stores were set to close, but the retailer decided to keep 10 after reaching rent reduction agreements with landlords at those sites.
The Paul Harris spokesman said that the retail chain is making every effort to relocate employees at the sites to be auctioned off to other mall stores. "Some have already been moved to the company's headquarters," he noted.
The downtown indie store -- at $20.93 per square foot, with the lease set to end on Oct. 31, 2013 -- is not the priciest of the sites set for auction, according to information from Keen Realty. The one on North Michigan Avenue rents at $40 per square foot, with the lease expiring on Feb. 28, 2014.
Other high-rent locales up for auction are: a unit in the Woodfield Mall in Schaumburg, Ill., 7,275 square feet at $41.02 per square foot, lease expiring on Jan. 31, 2007; Emerald Square in N. Attleboro, Mass., 5,503 square feet at $35 per square foot, lease expiring on Jan. 31, 2007; Woodland Mall in Grand Rapids, Mich., 5,200 square feet at $33.33 per square foot, lease expiring on Jan. 31, 2007; Trumbull Mall in Trumbull, Conn., 4,286 square feet at $30.00 per square foot, lease expiring on Jan. 31, 2008; and Orlando Fashion Square in Orlando, Fla., 3,603 square feet at $30 per square foot, lease expiring on July 31, 2007.Many of the remaining sites -- in Florida, Massachusetts, Maryland, North Carolina and Pennsylvania -- average in the mid-$20s per square foot.
For the quarter ended Oct. 28, the specialty chain known for its privately branded women's apparel and accessories posted a $22.2 million net loss, or $2.03 a diluted share, compared with a $1 million net loss, or 9 cents a share, in the year-ago quarter. Excluding a $3.1 million restructuring charge and $3.8 million in taxes, the loss would have been $15.2 million for the quarter. Sales dropped nearly 7.5 percent to $57.9 million from $62.6 million, while comparative-store sales fell by 8.1 percent.
The quarter's results reflected weak sales resulting from the slow receipt of inventory and nonrecurring costs associated with the sale of the J. Peterman division.
For the nine-month period, the net loss widened to $40.3 million, or $3.69 a diluted share, versus a $904,000 loss, or 8 cents a share, in the comparable 1999 period. Sales inched up nearly 1.5 percent to $180.1 million from $177.5 million.
Paul Harris is in the process of refocusing its merchandising, reducing the careerwear portion of the mix and increasing its sweater and knit categories.
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye


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New report by Copper
This article was originally published on MarketWatch on Feb. 10, 2021
Bitcoin prices have been scaling new heights recently, and the basic dynamic of tighter supply and increased demand has underpinned that climb, according to a report compiled by London-based crypto custodian Copper.co.
Copper made the case that the recent price ascent is a function of steadily rising demand for Bitcoins and the growing scarcity of the asset that has a maximum supply of 21 million, which is projected to be hit by 2140. The researcher also said that the most of the interest in new bitcoins is coming from North America, and the U.S. in particular.
Approximately, 18.625 million bitcoins have been created, or digitally mined in the parlance of cryptocurrency enthusiasts, according to CoinMarketCap.com, but a good chunk of that has been lost, wrote the folks at Copper.
By their estimates, 56% of bitcoins are owned by investors, 18% are lost, 15% are held by so-called traders and the remainder has yet to be mined (see attached chart):
Copper said that because the majority of investors are long-term owners, representing eight out of 10 holders of the cryptocurrency, rising appetite for the world’s most popular digital asset can have an outsize effect on values.
The researchers said that bitcoin’s rise above $40,000 was already in play even before Tesla Inc. TSLA, -5.26% made its surprise filing with regulators on Monday, declaring its investment of $1.5 billion in bitcoin, and its decision to eventually allow customers to purchase its products with bitcoin.
“Data shows that new investors pushed prices much higher in the last six months of 2020, to acquire north of 2 [million] bitcoins,” wrote Copper’s researchers in the study.
“In order to be able to buy bitcoin in such deep quantities, the price rallied well above the $20,000 mark that helped persuade early investors to sell their cryptocurrency above its previous all-time high,” they said.
The crypto market is reliant on a new supply of some 3.2 million bitcoins on exchanges and held by traders, according to the report.


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This weekend, thousands of EMC partners and customers will descend on Las Vegas for EMC World, which kicks off on Monday.
The event has always been a must-attend for many UK partners keen to learn more about the company's vision and strategy, but this year's gathering is more hotly anticipated than ever, as it will be the first time partners will learn about how the combined Dell-EMC entity will look – and crucially – how it will affect their businesses.
The man himself, Michael Dell, is expected to take to the EMC World stage on Monday morning to deliver his vision of the future of EMC under Dell. The latter announced plans to acquire EMC last October and the deal is anticipated to close between May and October this year.
The integration will be one of the hottest talking points of the event, according to MTI's senior vice president for sales Ian Parslow (pictured below), who said he wants clarification on the recent reseller agreement that the two have signed.
"Something that is poignant for us in the channel is that Dell has signed a number of resale agreements with EMC on a set of core products," he said. "That in itself I see as quite exciting, but it is also a bit of a risk to existing EMC partners. Dell will be acquiring the technology, but also the customer base. Given they are quite a direct-focused organisation, we in the channel should be concerned about how Dell is going to be engaging with and embracing EMC's existing channel community.
"There might be risk to us there that Dell is not only acquiring the technology, but the account base too.
"Therefore, they might be looking to say 'oh well the accounts belong to us now, why do we need the channel?' I've got a couple of sessions booked with Dell and I've been invited to a session with Michael Dell as well, so I am going to be asking that question – how is he going to be investing in EMC's channel to ensure we are protected and can deliver more value?"
Computacenter's chief technologist Bill McGloin, who will also be heading out to Las Vegas for the event, said some concerns about the acquisition have begun to die down.
"I think everyone is much more comfortable about the Dell-EMC relationship now – it feels like we are in a better place and people aren't worrying the way they were when it was announced," he said.
"It does feel in a better place. It's still to come out in the wash which products will survive. We have met a few of the execs along the way now and we have a reasonable idea of what's going on.
"But obviously it all has to settle down and ultimately market forces will decide the direction."
"There's nothing I have seen which worries me."
EMC's partner programme has only recently undergone a significant transformation – with its decade-old Velocity programme being replaced by the divisive Business Partner Programme (BPP) at the start of last year. The BPP initially upset smaller EMC partners with its sky-high revenue requirements, but EMC later lowered these in recognition of its mid-market partners.
Dell has traditionally had a direct business model, although it has been keen to boast for the last few years about how half of its EMEA sales go through partners.
McGloin said he is intrigued about how the future company's channel programme will look.
"Outside the technology, it will be interesting to see what they announce around partner programmes," he said. "There may be some questions there and that type of thing [we'd like clarification on]. We're a big partner of both of them so we are in a good place. Our take on [the merger] is very positive."
Nima Green asks what is driving public cloud uptake in Germany
In the wake of yet another lawsuit involving Oracle, we run through 10 of the vendor's biggest court battles
CEO Chuck Robbins says Cisco will use the Catalyst 9000 product range as a template for future launches
Today saw 14 of the UK IT channel's biggest hitters come together to determine the winners of CRN's WiC awards. But what does being a WiC judge actually involve? Doug Woodburn reports


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An activist investor already owns nearly 10% of Freshpet Inc. (FRPT) and plans to pressure the pet food company to make changes to boost the stock price and explore a sale, according to people familiar with the matter.
Jana Partners LLC believes Freshpet could be an attractive acquisition target for the industry’s larger competitors, which have shown interest in making deals in recent years, these people said. Jana also wants the company to consider other reforms, such as improvements in operations and capital allocation.
The activist hedge fund has brought in former Kraft Foods CFO Timothy McLevich, former skincare maker Rodan & Fields CEO Diane Dietz and former Jarden Corp. CEO James Lillie, these people said. help drive its efforts.
Two former professional athletes, basketball star Dwayne…


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The palm oil sector is set to miss out on a traditional period of high demand as COVID-19 lockdowns during the Muslim holy month of Ramadan affects demand in key importing countries such as India, Pakistan and Bangladesh, Reuters reported on 21 April.
Lower than normal demand could put pressure on Malaysia’s benchmark crude palm oil prices, which had already fallen nearly 30% since 23 January – the date when China, the second largest global palm oil consumer, started the world’s first COVID-19 related lockdown.
Palm oil demand typically increased in the two months before Ramadan, which began on 23 April this year and ends with Eid al-Fitr on 23 May. Importers usually stocked up on the edible oil in anticipation of increased food consumption as families and friends met in communal feasts to break their daily fasts, Reuters said.
With people under lockdown unable to gather as normal this year – and with many restaurants, canteens and hotels shut – iftar, or break-fast meals, were expected to be on a smaller scale.
Traders and analysts told Reuters that purchases from major Ramadan buyers in India, Bangladesh, Pakistan, Saudi Arabia and Iran had picked up in early March, but had slumped since governments had enacted lockdown measures.
“We have lost that window for Ramadan demand to pick up, we should have seen a lot higher shipments to the Middle East in the beginning of March,” Sathia Varqa, owner of Singapore-based Palm Oil Analytics, was quoted as saying by Reuters.
March palm oil exports from Malaysia, the world’s second largest producer, had fallen 27% from a year earlier to 1.2M tonnes, the lowest volume for March since at least 2016, according to Malaysian Palm Oil Board data.
Top producer Indonesia’s March exports had been higher than in February but had fallen 3% from a year earlier to 1.9M tonnes, according to Refinitiv data.
With buyers in the Middle East under lockdown, Varqa told Reuters it was difficult to see a seasonal peak.
In India, the world’s biggest edible oil consumer, the hotel, restaurant and catering industry was a major user of palm oil, but demand from this sector had fallen as much as 40% due to a nationwide lockdown, according to analysis by the Malaysian Palm Oil Council (MPOC).
Indian palm oil demand usually increased around 10% during festivals such as Ramadan, but such an increase was unlikely this year, Sudhakar Desai, president of the Indian Vegetable Oil Producers’ Association (IVPA) told Reuters.
“For the first time this year we will see a fall in per capita consumption,” Desai said.
The country’s palm oil imports in March had fallen 58% from a year earlier to 335,308 tonnes according to data compiled by industry body the Solvent Extractors’ Association.
In April, India’s palm oil imports could plunge to 450,000 tonnes from 707,450 tonnes a year earlier, IVPA’s Desai told Reuters.
Pakistan’s palm oil imports in March had been 40,000-50,000 tonnes lower than forecast, while trading in Bangladesh’s local market had been slow since mid-March, according to MPOC analysis.
“Purchasing power is falling. People are losing jobs or witnessing pay cuts. This will have an impact on palm consumption,” a Mumbai-based dealer with a global trading company told Reuters.


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New venue the 'heart' of fashion festival
A team of more than 75 people has spent the past nine days constructing and preparing the new “home and heart” of this year’s Telstra Perth Fashion Festival.
The festival’s evening runway venue Fashion Paramount has moved to the St Georges Terrace forecourt of the Perth Concert Hall.
A temporary marquee established to make the most of the forecourt space and concert hall background was the “biggest ever” in the history of the festival, TPFF operations manager Greta Nardeschi said.
Mrs Nardeschi said the large installation was inspired by TPFF’s “big sisters” – international fashion festivals in cities including London and New York.
It took nine days to set up the new venue, compared to just three in previous years.
Spanning nearly 800sqm, Fashion Paramount will feature a new runway shape and raised seating for 660 guests. In the past, seating was limited to about 500 guests.
“Having a squarish area provided me with the opportunity to have a different runway,” Mrs Nardeschi said.
“We will have a U-shaped runway, which has never happened before at the festival – finally something different.
“We’re finally going to have proper grandstand seating.”
Fashion Paramount would boast a “bespoke structure” that would “wow” Perth during the six-day event.
“That’s the beauty of this year – it’s not going to be something that can be replicated by any other fashion show,” Mrs Nardeschi said.
TPFF director Mariella Harvey-Hanrahan said festival co-ordinators were thrilled that Fashion Paramount’s new location would increase capacity for the shows.
This would provide “valuable exposure for each of our designers to the largest-sized audiences in festival history”, Ms Harvey-Hanrahan said.
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SINGAPORE, Sept. 24, 2021 /EuroJournal/ — ZKBox, a Layer2 NFT protocol primarily based on ZK-Rollup know-how, at the moment introduced a brand new collaboration with luxurious model COACH China and GQLab, the content material growth workforce of GQ China, to launch six restricted editions of NFT art work impressed by iconic designs from COACH’s Fall 2021 assortment themed “COACH Perpetually II.” As this undertaking’s strategic technical associate, ZKBox will mint the NFTs on its platform and distribute them by way of an airdrop undertaking. The partnership is each COACH China and GQLab China’s first trial within the NFT house.
The media collaboration with GQLab marks COACH China’s first entrance into the NFT house, as extra luxurious trend manufacturers and media publications experiment with the trending blockchain know-how. Non-fungible tokens have seen exponential development all through 2021 as celebrities, athletes, musicians, and artists associate with NFT platforms to supply their very own distinctive NFT works. In contrast to bodily items of clothes or artwork, NFTs present verifiable proof of possession powered by the blockchain.
A longtime media associate of COACH China, GQLab is the digital content material pipeline of GQ China on WeChat, specializing in multi-channel new media advertising via TikTok, Bilibili, Weibo, and WeChat. Of their newest undertaking, COACH China and GQLab have created a singular interactive NFT expertise for followers of the luxurious model. To convey the gathering to the digital world, ZKBox has labored carefully with GQLab to supply the corresponding NFT artworks.
Followers of COACH can enter for an opportunity to win an NFT by sharing their concepts of “Combine & Match” of private designs and whole seems to be by way of Weibo. Six winners may have the possibility to win the restricted version ERC-20-based NFTs. The undertaking will probably be held by way of the co-created IP theme – “Artwork Eye“- inside GQLab, which goals to bridge the hole between artwork and the style world via a number of arts-related angles together with such content material as artwork faculties, artist interviews, artwork neighborhood, and trending information and subjects.
As among the winners could also be new to the blockchain or NFT house, ZKBox will present a tutorial to information contributors via claiming their NFTs utilizing their crypto wallets.
“NFTs are appearing as a gateway for manufacturers, people, and audiences that haven’t beforehand been concerned within the blockchain and crypto house to enter. There’s a lot alternative for experimentation and innovation, and that’s attracting the eye of prime gamers in a number of industries,” stated Hailan Jia, PR Director at ZKBox. “COACH China and GQLab are prime gamers of their respective fields, so we’re excited to collectively work and produce these fashions content material to the digital world.”
By means of its Layer2 NFT protocol primarily based on ZK-Rollup know-how, ZKBox permits influencers, artists, celebrities, widely known manufacturers, creators, and unusual customers to create, switch, commerce NFTs on the Layer2. ZKBox helps NFT transactions between Layer1 and Layer2 networks and helps ERC-721 requirements, that are essential in establishing a framework for NFT transactions and bettering asset liquidity.


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There's a big shift going on in the beverages industry.
Many players in the alcohol business have aimed to gain ground in the cannabis space, an industry set to expand rapidly in the next several years. But it isn't just Constellation Brands Inc.'s (STZ) - Get Constellation Brands, Inc. Class A Report financing of Canopy Growth Corp. (CGC) - Get Canopy Growth Corporation Report that shows that the trend is in full swing.
New Age Beverages Corp. (NBEV) - Get NewAge Inc Report a $337 million soft drinks maker, said Monday it was acquiring Morinda Holdings, a cannabis-infused drink seller, for $85 million. Although New Age makes only soft drinks, many of its products are aimed at creating a relaxing or therapeutic experience, and it wants to capture the growing consumer hunger for cannabis infused drinks.
"This acquisition has potential to expand their strategic push into cannabis infused beverages globally, and further strengthens their award-winning healthy beverage portfolio," a spokeswoman for New Age Beverages said in an email to TheStreet.
New Age had revenue of $52 million in 2017 and wasn't profitable, but it is growing at a fast clip. The deal, according to the spokeswoman, could create a company with $300 million of revenue and $20 million in EBITDA (earnings before interest, taxes, depreciation and amortization) over some period of time within one year.
New Age rose 9.07% to $5.05 on Monday. Morinda is a privately held company.


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In February, Volta Industries Inc. announced its intentions to merge with Tortoise Acquisition Corp. II (NYSE:SNPR). The proposed merger will see the combined company list on the New York stock Exchange under the ticker symbol VLTA.
The merger has an implied equity value of over $1.4 Billion and is expected to provide the combined company $600 Million in cash proceeds. The proceeds will help fund and accelerate Volta’s buildout of its charging network already in the pipeline.
With many questions to be answered, this article will breakdown everything investors need to know about the SNPR merger.
Table of contents
Key details of the Volta & SNPR merger
- Volta’s charging stations benefit brands, consumers, and real-estate locations by providing valuable advertising space to businesses and free charging to drivers.
- The estimated $600 Million in net proceeds includes a $300 million PIPE investment at $10.00 a share and the remainder of the proceeds is held in the SNPR trust account. The funds will be used to “accelerate product commercialization, product production, demand generation efforts, operational growth and for general corporate purposes.”
- The company first disclosed the merger would close sometime in the second quarter of 2021. With June 30 now behind us, investors expect both companies to be close to finalising the merger and announcing a vote date.
“Volta’s unique business model is poised to capture the vast consumer spending shifts that will accompany our society’s shift from carbon to electric,” said Scott Mercer, Founder and CEO of Volta.
What investors need to know about Volta?
Firstly, over the past decade Volta has built a nationwide electric vehicle charging network. The Volta charging stations are among the most used in the United States currently. Volta aims to capitalise on Megatrend tailwinds including electrification, decarbonization, digital media and big data.
The company noted in a February investor presentation that Volta installed 1,507 charging stations in 2020. Furthermore, the company expects to install 3,142 stations this year and 6,492 in 2022. The company also noted the $500 Billion refuelling market will be up for grabs for EV charging companies like Volta as the world transitions to zero carbon.
Financial outlook of Volta Industries
Volta Industries generated $25 Million in revenue last year with majority of the revenue resulting from their charging network segment. Looking ahead, the company expects to generate $47 Million in 2021 and $141 Million in 2022.
By 2025, the company expects to generate $826 Million in revenue with the charging network driving 56% of sales.
In the same year, the company also expects to install 26,242 charging stations. The company noted that Volta’s average 2021-2023 gross margin percentage is 10% higher than EV charging competitors. Overall, the company looks well positioned to benefit from the EV tailwind based on the companies revenue growth outlook.
Summary of the SNPR merger
In summary, the proposed merger between SNPR and Volta is closing in on finalisation. The emerging market that Volta aims to tap into is clearly an exciting prospect for investors.
In particular, the revenue guidance provided by the company highlights the emerging market opportunity. At this stage, investors await a confirmed date for the shareholder vote which will be one of the final steps in the merger.
Overall, SNPR will be one to watch over the next few weeks.
The information above is not financial advice. Youth Investment Group has no liability for personal financial interests or investment decisions. You should make your own investment decisions based upon your own research and what you believe is best for you.
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For more than three years, Seattle startup SkyKick has been embroiled in a legal dispute with Sky, the Comcast-owned British media powerhouse, and an upcoming opinion in the case could have a major impact on trademark rules in the U.K. and Europe.
Sky sued SkyKick in 2016 for trademark infringement. However, SkyKick, which has an office in Amsterdam and does business in Europe, fired back, arguing in a counterclaim that Sky’s trademarks in areas like “computer software” were too broad and should be thrown out. SkyKick also argued some of the trademarks were sought in bad faith because Sky never intended to operate in those areas.
The High Court of England and Wales referred several questions in the case to the Advocate General for the Court of Justice of the European Union. An opinion from the advocate general was expected as soon as this week, but it was delayed until mid-October.
The opinion from the advocate general could go a long way in guiding the eventual decision in the case. However, SkyKick noted in a statement that it is just one part of the larger legal process. Here is SkyKick’s full statement on the case:
For three years SkyKick has been defending our right against Sky Broadcasting to continue using the SkyKick name in Europe. The case is also of wider importance to all businesses looking to enter the European markets because the judgement will define the scope of protection of European trademark registrations. While the Advocate General’s opinion on the case is just one step in this legal process, we are confident that SkyKick has presented a strong position to defend the use of our name in Europe.
Comcast declined to comment. The cable and telecom giant acquired Sky in a blockbuster $40 billion deal last year and then spent another $15 billion to buy out rival 21st Century Fox’s shares in the company.
SkyKick, No. 38 on the GeekWire 200 list of the Pacific Northwest’s top startups, is no small potato. However, it is going up against a behemoth in Sky, which brought in $4.8 billion in revenue in the second quarter alone and has the resources of parent company Comcast behind it.
The central question in the dispute is whether companies should be allowed to file trademarks for things that aren’t part of their business. If the court sides with Sky, it’s possible SkyKick could be barred from using its name in Europe.
Should SkyKick prevail, companies may have to narrow down trademark applications and move away from broad concepts like “computer software” to focus on areas they actually operate in. Freeths, a U.K. based law firm, discussed the broader implications in an analysis of the case in 2018:
Filing applications for incredibly broad specifications for which there can be no hope of use would no longer be the best way of carving out a broad monopoly for the mark in question, as such applications would be inherently vulnerable to revocation.
It might be that in the future the best way to secure the broadest of protection possible is to limit specifications to those goods and services where there is at least a faint commercial rationale for including them (and noting that rationale at the time of filing).
Founded by a pair of ex-Microsoft employees, SkyKick builds software for consulting companies and service providers that small-and-medium-size businesses use to create an IT strategy. Its flagship product, Migration Suites for Office 365, simplifies moving email and productivity tools over to the Microsoft-hosted Office 365.
SkyKick in May raised $40 million, and said at the time it planned to hire “across the board,” focusing on its Seattle headquarters but also looking to boost engineering, sales, marketing, and support across its worldwide offices in Amsterdam, Sydney, and Tokyo. The company said in May it had 150 employees around the world, and it has raised $65 million to date.


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Nissan Leaf buyers reserve their cars
Nissan Motor Co. said Friday that buyers have already reserved more than 20% of the first year’s production of its Leaf electric vehicle.
About 6,600 U.S. consumers have paid the $99 reservation fee, and 3,700 in Japan have done the same. Nissan said it will make about 50,000 Leaf cars the first year. The automaker has said it wants to have about 40% of production reserved by December, when the car goes on sale.
The all-electric hatchback will cost $32,780. But government subsidies will reduce the price for California buyers by about a third. There’s a federal tax credit of $7,500 for electric vehicles. And Californians are eligible for an additional $5,000 rebate through the state Air Resources Board. In California, that brings the base price for the standard Leaf to $20,280.
The car will be available in two versions: the standard ST model and the more premium SL, which costs an additional $940 and includes a rear-view backup camera and a solar-panel spoiler to charge an accessory battery.
Both versions will be powered by a 24-kilowatt-hour, laminated lithium-ion battery pack that will allow the Leaf to travel 100 miles per charge and reach a top speed of 90 mph.
Nissan said that about 75% of its U.S. reservations are for the higher-end SL model. And about the same percentage is from what the automaker calls its primary launch markets: Tennessee, where Nissan has its U.S. headquarters, and California, Washington, Oregon and Arizona.
For now, the Leaf will be built in Japan. U.S. production is scheduled to start in Smyrna, Tenn., in 2012.


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TECHNOGYM grows: revenue at Euro 555 million (+8.5%) and EBITDA at Euro 100 Million (+15%)
- Consolidated revenue: Euro 555 million, +8.5% on 2015 (Euro 512). At constant exchange rates, consolidated revenue growth stands at +10.3%
- EBITDA: Euro 100 million, +15.3% on 2015 (Euro 86.7 million).Net Profit: Euro 43 million, +54% on 2015 (Euro 28 million).
- Net Financial Debt: Euro 78 million, compared to Euro 38 million in 2015, after non-recurring investments of around Euro 110 million for the acquisition of Technogym Village and the digital company Exerp
- Proposed dividend of Euro 0.065 per share, totaling Euro 13 million
Nerio Alessandri, Chairman and Chief Executive Officer, said:
“Major growth once again in 2016. TECHNOGYM continues to grow faster than its reference market, achieving a record result of Euro 100 million in EBITDA and profit up by more than + 50%. 2016 marks an important milestone in TECHNOGYM’s growth history worldwide, which 30 years since its foundation consolidated a leadership position in our target segment.
We are proud to have achieved a profit and EBITDA result that is more than proportionate to revenue growth, and this means we can pay dividends to our shareholders. Despite the non-recurring investments, the net financial position stands at Euro 78 million. The constant growth recorded in the last 4 years is in line with our long-term sustainable growth strategy.
TECHNOGYM is an aspirational brand with a luxury living and design positioning in the home and hotel segment and a premium positioning within the club and corporate segment. Our business model is based on offering customized solutions that allow us to cover new markets such as consumer, hospitality, corporate, health and sport performance.
Despite a market scenario dominated by uncertainty, we continue to focus on the long-term, investing in Research and Development and in 2017 we will introduce new products and solutions for the different market segments.”
Cesena (Italy), March 6, 2017 - The Board of Directors of TECHNOGYM (MTA: TGYM), a leader in the international fitness, sport and health equipment market and operating in the broader Wellness industry, today examined and approved the consolidated financial statements and the draft financial statements for 2016, prepared in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board.
TECHNOGYM closed 2016 with revenue up +8.5% compared to the previous year, double that of the reference market. Growth was particularly significant in some geographic areas strategic for the company’s medium/long-term development: +16% in North America and +18% in Asia Pacific.
EBITDA stands at a record Euro 100 million, an increase more than proportionate to revenue growth, as well as improving on 2015 by over +15%. The net financial debt rose by only Euro 40 million, despite the major non-recurring investments associated with acquisition of the TECHNOGYM Village and the Danish company Exerp, a leader in digital systems for fitness club management. The continuous investments in digital, in developing IoT based smart equipment and in the unique MyWellness cloud open platform have guaranteed TECHNOGYM a positioning as a leader company in innovation with a tangible benefit in terms of marginality on the entire product and service range.
As regards innovation, in 2016 TECHNOGYM launched several new products and solutions such as SKILLMILL - a product dedicated to the new segment of athletic performance training, GROUP CYCLE Connect, the connected and interactive group cycling format, POWER PERSONAL, the design solution that completes the Personal collection designed by Antonio Citterio, and many new applications for the TECHNOGYM Ecosystem, the only digital ecosystem in the industry, able to connect products, fitness clubs and end consumers via mobile app.
In the year just ended, TECHNOGYM was also a lead player in the Rio 2016 Olympics as official and exclusive supplier: the sixth Olympic experience for the company.