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April 26 (Reuters) – Google parent Alphabet Inc (GOOGL.O) on Tuesday reported its to start with quarterly revenue pass up of the pandemic immediately after the war in Ukraine harm YouTube advert profits, leaving investors rattled as the world-wide overall economy sputters.
The world’s premier company of look for and online video designed a fortune over the previous two years as the pandemic pressured more outlets and folks on the internet. But outdoing these product sales is proving challenging so far this year with the war, rising inflation and product shortages leading to advertisers to dump marketing campaigns, in accordance to analysts.
Alphabet Main Monetary Officer Ruth Porat stated it was also early to predict when revenue slowed by the war may select up and warned that the strengthening U.S. greenback would hurt product sales even much more in the recent quarter.
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Alphabet shares, which ended up up approximately 90% more than the previous two a long time, fell about 2.5% right after the final results late on Tuesday. They experienced dropped 3.6% for the duration of the regular session.
David Wagner, portfolio supervisor at Aptus Funds Advisors, voiced expanding worries about the macro surroundings. “Alphabet has been seen as just one of the most insulated firms in the advertising place relative to friends, but sometimes you can even now own the most effective dwelling in the worst neighborhood,” he explained.
Alphabet reported initial-quarter revenue rose to $68.01 billion, up 23% from very last year but under the common estimate of $68.1 billion among money analysts tracked by Refinitiv, its initially miss out on considering that the fourth quarter of 2019.
Notably, YouTube advertising and marketing revenue of $6.9 billion skipped analysts’ concentrate on of $7.5 billion, in accordance to FactSet.
Porat mentioned the war in Ukraine that started throughout the quarter experienced an “outsized effects” on YouTube earnings due to the fact the business stopped advert sales in Russia and manufacturer advertisers, notably in Europe, pulled again on spending right after preventing broke out. study additional
Google overall derived 1% of its income in 2021 from Russia, Porat said.
She also reported moderating growth in sales to direct-reaction advertisers on YouTube, and added that cuts to application keep costs to handle antitrust considerations had wiped out gains in subscription profits.
Google’s “other” earnings, which contains app, hardware and membership gross sales, have been $6.8 billion, below estimates of $7.3 billion.
Quarterly profit was $16.44 billion, or $24.62 for each share, lacking anticipations of $25.76 per share.
Alphabet also stated its board experienced authorized an further $70 billion in stock repurchases. It has purchased back more than $81 billion in shares about the very last two yrs.
Google is envisioned to grab 29%, or the major share, of the $602 billion international on the net advertisement market place in 2022, at minimum the 12th straight yr it has been on leading, in accordance to Insider Intelligence.
Sophie Lund-Yates, guide fairness analyst at Hargreaves Lansdown, reported in a be aware that the macro environment could bring some ups and downs for Alphabet, although the corporation remained indispensable to customers and advertisers.
Past 7 days, Snap Inc (SNAP.N) warned that inflation, labor shortages and other financial troubles could strain ad income. examine much more
Facebook guardian Meta Platforms Inc (FB.O), the next-most significant on the internet promotion system with an predicted 21.4% share of the international market place in 2022, stories earnings on Wednesday. Its shares fell 2.5% on Tuesday right after Alphabet’s results.
Escalating level of competition from organizations this kind of as Amazon.com Inc (AMZN.O) and ByteDance’s TikTok are chipping absent at Google advert profits, way too. Still, vendors carry on to pour income into adverts and journey and enjoyment advertisers are ramping up once more. In addition, Google is improved positioned than rivals to endure financial shocks simply because its marketing applications tend to be among the the very last abandoned by advertisers as they are perfectly recognised, uncomplicated to use and arrive at extra buyers than choices.
Large on the list of challenges faced by the business are quite a few lawsuits and investigations into no matter whether Google has engaged in anticompetitive carry out by means of its advertising and other companies.
The most current scrutiny has been on its pending $5.4 billion acquisition of cybersecurity products and services provider Mandiant, which the U.S. Division of Justice is examining closely. Google has stated it continue to expects to close the deal this year. read a lot more
Google Cloud, the device that would comprise Mandiant, amplified profits in the initially quarter by 44% as opposed with a year ago to $5.82 billion.
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Reporting by Nivedita Balu in Bengaluru and Paresh Dave in Oakland, Calif.
Editing by Sriraj Kalluvila, Peter Henderson and Matthew Lewis
Our Expectations: The Thomson Reuters Trust Principles.


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LAS VEGAS--Press Day at CES saw 12 solid hours of press conferences from consumer electronics manufacturers of all stripes. Here's the news that mattered most.
TV technology is always one of the most exciting areas at CES, and so far this year is no different. And the hot TV tech of today is 4K, also known as Ultra HD. Sharp showed off two Ultra HD displays, the 60-inch Purios due this summer and the Aquos Ultra HD TV due in the second half of the year. Panasonic introduced its new line of smart TVs, including features like My Home Screen, which lets every individual in a home make his own personal home screen; Swipe and Share 2.0, which lets people share content by tapping an NFC smartphone against the TV; and Voice Interaction/Guidance, through which people can control a TV by speaking commands into a Panasonic remote or smartphone. Samsung trotted out the S9 series, including an that comes with its own easel-like floor stand.
Not surprisingly, Sony is also focusing on 4K TVs. But unlike its competitors, it also announced plans for bringing actual 4K content to consumers, something that is virtually nonexistent right now. Sony is launching athis summer.
One of the most anticipated announcements of the day was actually old news. LG finally divulged basic pricing and availability, which was one of the stars of last year's show. The 55-inch model will cost about $12,000, according to LG's U.S. marketing chief James Fishler. An 84-inch model will cost upwards of $20,000.
Lenovo took its popular Yoga convertible and . It also introduced the (shown below) at the CES Unveiled event Sunday night. The company calls this clamshell a "rip and flip" design because the screen pops off from the keyboard base, and then can be reattached even after being rotated 180 degrees.
One hardware highlight came from Intel, which showed off an incredibly thin design concept for what it sees as the next generation of the Ultrabook. The 17-millimeter-thick concept device features a detachable touch screen that functions on its own as a standalone Windows 8 slate and, naturally, it carries Intel's upcoming Core i-series processor.
While we haven't seen much in the way of big phone announcements yet, Sony did introduce the high-end -- and waterproof --. The phone has a 5-inch high-def display, a 13-megapixel camera, a quad-core Qualcomm Snapdragon processor, and NFC.
The Samsung Galaxy Note 10.1, which has been around for a while, isand will come to Verizon this month.
At its press event late Sunday night, Nvidia debuted its Tegra 4 quad-core processor, which boasts dramatically improved processing speeds and new camera tricks.
Intel showed off its next generation of processors, code-named Haswell, which should allow for longer battery life and new features in mobile devices.
Qualcomm also took a turn on stage, as CEO Paul Jacobs delivered the opening keynote address of the show Monday night. Jacobs introduced the Snapdragon 600 and 800 series processors, both of which work with the 802.11ac wireless standard and are made for premium mobile and computing devices. The high-end 800 series include Qualcomm's newest 4G LTE technology that offers data speeds up to 150Mbps, nearly five times faster than the previous generation processors.
Fun and games
Nvidia got our attention early with a prototype of its very own branded portable gaming device, code-named Project Shield. The Android-based Shield looks like a larger-than-usual console controller, complete with joysticks and buttons. It can play Android, Tegra, and PC games, as well as play games streamed from the cloud. Though the demo was plagued with problems, Nvidia showed how the device can be used to stream games from any PC in your house to a big-screen TV with what appeared to be real-time gameplay. Check out our in-depth .
Dish focused its press event on a new, faster version of its Hopper DVR that comes integrated with a Slingbox. Called the Hopper with Sling, the device comes with a 1,305MHz Broadcom processor, Wi-Fi, and a feature called Hopper Transfers that allows you to transfer recorded programming to your iPad for viewing on the go without an Internet connection.
And of course, since it's CES, we've seen an awful lot of gadgets. Globaltrac showed off a clever . The headphones are good enough that David Carnoy called them the best headphones he's seen so far at CES. Panasonic brought a pair of that take tunes straight to your dome.

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Two of the co-founders of the Lounge chain have cashed in on their shares worth close to £9m as the company prepares to float on the Stock Exchange.
Trading in the shares of Loungers is due to start on Monday morning at £2 per share, valuing the company at £185m.
Loungers, whose headquarters are on Lower Park Row, own both the Lounge and Cosy Club brands of which there are 146 outlets across the UK.
The first Lounge was opened in a former opticians on North Street in Bedminster in 2002 by friends Alex Reilley, Jake Bishop and Dave Reid. Selling shareholders include Reilley and Bishop, whose shares are now worth £4.43m.
As well as the original Lounge, there are four others across Bristol on Gloucester Road, and in Fishponds, Totterdown and Westbury-on-Trym, as well as a Cosy Club on Corn Street in the city centre.
Deco Lounge on Cotham Hill became only the second ever Lounge to close when it shut its doors at the beginning of 2017.
Nick Collins, chief executive officer of Loungers, said: “It has long been our ambition to list the company on the public markets. We are delighted that our unique business has resonated strongly with investors.
“None of this would have been possible without the continued commitment of our wonderful team of employees. I would like to take this opportunity to thank them on behalf of the board for their tremendous efforts which have enabled Loungers to go from strength to strength.
“We welcome all of our new shareholders to the Loungers’ family and look forward to the company’s continued growth and future success.”
The Loungers’ rapid growth will see it aim to open 25 more branches in 2019.


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Take the Cash, Hit the Bricks: Nearly 2,500 Korean Workers Opt for GM's Voluntary Redundancy Package
Union officials have stated that roughly 2,500 workers from General Motors’ South Korean unit have applied for a redundancy package offered as part of the automaker’s comprehensive restructuring of the region. The number represents around 15 percent of total GM staff in the area and should make negotiations with one of the most inflexible workers’ unions on the planet that much easier.
Still, what General Motors plans to do with its remaining South Korean factories is unknown, but it has already announced one closure. This has left many wondering if the automaker will abandon production in the country entirely. Fortunately, the Korean workforce has not responded with violence. In fact, many appear to see the writing on the wall, opting to take a buyout rather than cause a fuss during the restructuring.
GM’s South Korean business is mainly focused on building cars for export. It currently employs 16,000 individuals and endured its fourth straight year of operating losses in 2017. Already damaged by the automaker’s decision to pull the Chevrolet brand from the European market, this year looks to be no better.
“It looks the redundancy program has been well received by workers,” Cho Seong-jae, a senior fellow at the Korea Labor Institute said. “It seems that workers have given up any hope. They are fed up as the Gunsan factory has been underutilized for the past two to three years.”
Corporate documents seen by Reuters seem to indicate GM plans to cut 5,000 South Korean jobs but keep production steady. However, that’s only if the South Korean government agrees to a $2.8 billion financial aid proposal — meaning it might have been a good time for workers to get out with a redundancy package when they did.
The package, which carried an application deadline of March 2nd, provides outgoing employees with three times their annual salary, money for their children’s college tuition, and upwards of $9,000 towards the purchase of a new car. GM urged employees to take the buyout, suggesting a better deal was unlikely to come around ever again. The automaker has already begun negotiations with union members on wages concessions and finding benefits it can cut to minimize cost.
The Gunsan factory that GM intends to shutdow n saw 941 out of roughly 2,000 workers applying for the redundancy package, according to union officials. What happens to the rest of them hasn’t been decided, thought it’s unlikely they or the remaining Korean workforce will fare well if the government doesn’t want to invest in General Motors’ financial aid proposal.
[Image: General Motors]
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- Doc423 Well said, Jeff.
- Urlik My online research seems to indicate it’s an issue with the retaining clips failing and allowing the valve spring retainers to come out. This results in the valve dropping into the cylinder.
- EBFlex Typical Ford. For those keeping track, Ford is up to 44 recalls for the year. Number one recalled manufacturer (yet again) by a wide margin.
- Lorie Did they completely forget the damn 2.0 ecoboosts that have the class action lawsuit? Guess those of us that had to pay out of pocket for an engine replacement for a fail at 76k miles are out of luck? I will never buy a Ford again.
- Mncarguy I remember when the Golf came out and all the car magazines raved about it. I bought an early one in the mid level trim, brown with a beige vinyl interior and a stick. I must have blocked out a lot about that car, because the only thing I remember is one day with my wife and infant in the car, the brakes went out! I could use the parking brake and made it home. There must have been other issues (beside an awful dealer who felt like they were doing you a favor even letting you come in for service) because I swore I'd never buy a VW again. I did get a new Beetle and later a Passat. That's another story!


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CONYERS– Valentine’s Day was just a little sweeter for about a dozen couples who said “I do” in Rockdale on the most romantic holiday of the year. Rockdale County Magistrate Judge Phinia Aten performed several Valentine’s Day weddings in her Chambers. In honor of Valentine’s Day, Judge Aten sponsored a wedding cake for the couples and their guests. This year, the local Starbucks chipped in complimentary coffee to accompany the cake.
Photos by Glenn Morgan
Newlyweds Juan and Jernica Lozaen
Newlyweds Traleynn McCullar and Brittany Harlen
Photos by Glenn L. Morgan


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Taco Bell made the residents of Bethel, AK very happy when they brought in hundreds of pounds of food to serve residents who had been tricked into thinking that the fast-food chain would be opening a new restaurant in their town. Separately, Alaska is getting a lot of love these days, no?
[via, h/t @VitroAgency]
They captured the airlift on video and turned it into a series of clips showcasing their kindness and the happy folks who were there to receive it.
Taco Bell sure does know how to turn a potential PR negative into a positive. Although they can occasionally overstep.


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Google said today it had invested in a startup called Transphorm, whose power-conversion efficiency technology could some day help create more efficient electric cars.
The company’s technology can reduce by up to 90 percent the power lost when one form of energy is converted to the other (say, from AC — alternating current — to DC, direct current). Hybrid and electric car drives also convert electricity from AC to DC, so the Transphorm’s technology could one day be used to make electric vehicles and hybrids more efficient, said CEO Umesh Mishra in an interview with VentureBeat.
“The efficiencies that we offer translate directly to advanced efficiencies in [electric vehicle] drives,” Mishra said.
The technology could be used to extend the range of cars with the same size battery used in electric cars today, or by reducing the size of the battery for a lighter car with the same range that current electric and hybrid cars have.
All-electric cars right now like the Nissan Leaf (pictured, bottom) typically go about 100 miles on a single charge, and plug-in hybrids like the Toyota Prius Plug-In (pictured, top) or the Chevrolet Volt can go anywhere from 13 to 50 miles before switching over to gas, depending on the automaker and design. While there’s interest in public car chargers, consumers are still concerned about the range of cars.
Battery cost, life and range are major issues in electric car adoption, and some argue that there areinherent limits to battery technology andadvancements will be difficult. Major automakers are looking to expand lineups to compete in the green car market, and battery advancements are part of the plan — GM, for example, has invested in battery startups Envia and Sakti3. If car makers can tackle the range problem with power conversion and essentially skirt the battery obstacles, it could be a game changer.
2011 Nissan Leaf
The advancements won’t be happening tomorrow or even this year, though. Mishra sees it as a future market for the company.
“We are going to start working on it soon. But I believe it will take three years to five years before it becomes something the automotive sector will have the stomach for,” Mishra said. “But it’s a hugely attractive thing. … People in that sector completely understand the value proposition. We just have to work with them to get there.”
Right now, Transphorm is focused on other target markets, which include solar panel inverters, industrial motors (like the ones found in elevators) and data centers. Transphorm’s innovation is in its switching devices and module design. The company embeds power conversion devices in circuits and modules specifically designed for use in segments like solar inverters and industrial motors, so it’s not a plug-and-play product, which Mishra says others have tried in the past. Gallium nitride is part of Transphorm’s equation — it’s a fairly new material commonly used in LED lighting and is “ideal power switching material,” Mishra said, because it is a low-resistance material that can simultaneously hold off large voltage. Power-conversion devices are traditionally made using silicon.
Transphorm has raised a total of $38 million (including a $20 million round disclosed today); its backers include Google Ventures, Kleiner Perkins Caulfield & Byers, Foundation Capital and Lux Capital.
This story, written by Iris Kuo, was originally posted on VentureBeat's GreenBeat, an editorial partner of AllCarsElectric.


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The big winner in Zynga's IPO, the largest by an Internet company since Google went public, isn't the shareholders or the employees or even the executives. It's Facebook.
Zynga, which pioneered a new class of social games, is the first to become a multibillion-dollar company by piggybacking on Facebook's platform. Early on, Zynga co-founder and CEO Mark Pincus saw the potential for Facebook-connected games that were free, allowed friends to engage each other and could be played on any device with an Internet connection. He created applications powered by Facebook's network and today oversees a company estimated to be worth $7 billion.
"There hasn't been another developer that has built a large business on Facebook's platform and gone public in this way. It's a big first for the Western social gaming world," said Justin Smith, founder of research and data firm Inside Network.
Zynga's success is also Facebook's, experts say.
They note the gaming company's coming-out party on Nasdaq validates Facebook's platform as one on which companies can build their fortunes by developing a new breed of web services. The IPO also highlights the next chapter in Facebook's trajectory: The social network has evolved beyond photo uploads and status updates to offer a robust ecosystem of music, movies, news and lifestyle offerings, all in one place and all connected by an online network of friends.
Developers have made more than $2.5 billion creating apps for Apple's iDevices, according to Apple. Google gave rise to a new generation of companies, such as Demand Media, that succeeded because Google's search engine sent millions of users their way. Now, Facebook is spawning a new breed of companies that thrive because of the connection-driven, sharing-stimulated online world Facebook has created.
Zynga's rise shows that Facebook, like Google and Apple before it, can support an industry hitched to its platform and help carry web firms to the big leagues. Five years ago, Zynga didn't exist. Today the company is worth more than Hyatt Hotels, Hasbro and JetBlue.
"Zynga is the biggest proof positive that you can build a huge and successful company on Facebook's platform," said Josh Williams, president and chief science officer at Kontagent, a company that provides user analytics for app developers. "For Facebook, Zynga's IPO is great."
Zynga went from startup to Internet success story on the back of Facebook's enormous user base. By developing applications on Facebook, such as FarmVille and Mafia Wars, Zynga leveraged the social network's reach to sign up new members, collect information about its players and let individuals play online games with real-life friends. Zynga declined to comment, citing the legally mandated quiet period before and after its IPO.
Before Facebook changed its policies, Zynga expanded its own audience by aggressively marketing (or spamming, some say) its games through players' profiles. The company now claims three of the top five most popular apps on Facebook and over 223 million active players, three times more than its closest rival, according to AppData. The lion's share of Zynga's revenues come from the sale of virtual goods through its games. Facebook users generate 94 percent of Zynga's revenues, according to estimates by Strene Agee analyst Arvind Bhatia, and Zynga warned investors in its S-1 filing with the Securities and Exchange Commission, "We generate substantially all of our revenue and players through the Facebook platform and expect to continue to do so for the foreseeable future."
"You have to think that without Facebook users, there is no Zynga," said Gartner analyst Brian Blau. "It's a very intimate relationship. You could compare it to a parent and child, it's so close."
Financial analysts warn that Zynga's coziness with Facebook makes it vulnerable to the whims of the social networking giant and caution that any change in Facebook's terms could put Zynga's financial health at risk.
Yet Facebook needs Zynga nearly as much as Zynga needs Facebook, others counter.
"It's a symbiotic relationship. It's not parasitic," said P.J. Mcnealy, a digital media consultant and founder of Digital World Research. "Facebook becomes stickier as more people play games, and a lot of that content is coming from Zynga."
Companies like Zynga have helped Facebook evolve, transforming it from the Internet equivalent of a mom-and-pop shop peddling sweets to a mega-mall offering movie theaters, arcades and boutiques that lure crowds to stay longer and spend more.
Facebook apps encourage users spend more time on the social network, which in turn allows the site to serve up more ads. Apps also provide new sources of income: Facebook takes a 30 percent cut on all sales through Facebook Credits, a virtual currency that must be used for all purchases on the site, such as the tractors players buy in Zynga's FarmVille. Williams of Kontagent estimates that Facebook has netted more than $300 million from Zynga sales, and SEC filings reveal that Facebook forged a deal with Zynga guaranteeing that it would send minimum numbers of users to Zynga games.
"You can only spend so much time looking at people's pictures," said William. "Thanks to apps, people are coming back more frequently and spending more hours on the site, which means Facebook is able to generate more revenue via advertising," he said.
In turn, Zynga and other app developers can tap into Facebook's population of more than 800 million users, as well as the social network's payment system, marketing opportunities and viral potential. As Zynga's trajectory suggests, the payouts can be huge.
Among other advantages, Williams noted that Facebook enables app developers to target people based on their demographic information and to acquire users more cheaply than they could elsewhere. The Facebook Credits system also saves small companies the trouble of implementing their own payment solutions, Williams said.
Zynga's success in building social games on Facebook will open the floodgates, encouraging even more apps in industries such as media, education and health, experts predict.
"Zynga has been the largest company to capitalize on Facebook. Everyone else pretty much used it for marketing purposes, and no one really leveraged Facebook for revenue quite the way Zynga has," said Billy Pidgeon, an analyst at consulting company M2 Research. "They wrote the manual on how to do that, but now the competition is coming in."
Facebook has been making the hard sell to companies beyond the gaming sector, such as Nike and News Corp.
"The app that's able to set that expectation that everything's social up-front, that's the app that's going to win because that's the app that I'll see my friends using," Bret Taylor, Facebook's chief technology officer, told developers at Facebook's f8 conference in October.
The number of Facebook apps from media companies has surged in recent months. Following Facebook's f8, at which the company unveiled a "new class of social apps" that allow for "frictionless" sharing, the Washington Post, Hulu, Spotify and the Guardian have all released new and improved Facebook apps that broadcast every action a user takes on the app.
"Facebook is clearly putting effort into providing opportunities for media companies to plug more deeply into Facebook," said Smith of Inside Network. "They're pushing forward into the media world, outside of purely gaming, to make Facebook an even more important platform for other types of media companies."
Smith also expects to see mobile versions of Facebook apps that are not only tailored to smaller screens but also take advantage of smartphone capabilities, such as location information, to deliver new experiences. In theory, a concert venue could build an app that lets users locate Facebook friends attending the same performance. Or parents might be able to use an app to map their children's whereabouts and send messages through Facebook.
Although Zynga and Facebook profit from one another, so far they aren't evenly matched. There's only one Facebook, and while Zynga has plans to launch its own gaming site that would operate independently of the social network, it's still closely married to Mark Zuckerberg's creation. On the other hand, there could, with time, be dozens of Zyngas. Facebook no doubt hopes that will happen.
"Facebook needs to have a really active developer ecosystem. When you have one developer out there that's much bigger than all the others, you have a problem," said Blau, the Gartner analyst. "For Facebook to ensure they have a viable business, they have to attract lots of other developers. It'd be great if they had 10 Zyngas."
Take a look at the slideshow (below) to see how Zynga's IPO compares to 9 huge tech IPOs from 2011.


text: District Administration under the guidance of Deputy Commissioner issued the first certificate of the district under Punjab Right to Business Act – 2020 here today at District Administrative Complex sector 76. Additional Deputy Commissioner Ashika Jain issued the first certificate to entrepreneur Shamsher Singh Sandhu under the Project named 'Lodestone & infra Developers' for setting up stores for Agri related Products. Highlighting the features of the Act, the Deputy Commissioner said that under this Act, all the NOCs related to set up a new enterprise would be completed within 15 days after submitting application on the 'Business First Portal'. All the formalities and NOCs related to the new business / business start-up would be awarded through this single window in a stipulated time. He said the Department of Industries and Commerce have taken this new initiative to promote the business in the state besides providing ease of doing business with the required approvals.Thanking the Punjab government after receiving the certificate of approval under Single Window System 'Business First Portal' entrepreneur Shamsher Singh Sandhu said that it is hard to believe that one can get all the approvals within days of submitting application through a hassle free mechanism. He expressed hope that the initiative of the Department of Industry and Commerce of Punjab Government definitely boost the business in state by successful implementation of the 'Punjab Right to Business Act-2020.Additional Deputy Commissioner Ashika Jain said that first no objection certificate from all the departments has been given to the entrepreneur within 10 days from the date of application through single window which is 'Business First Portal'.ADC appealed to the entrepreneurs and people of Punjab to invest without any hesitation. She also ensures all the support and corporation from the government and district administration. On this occasion G.M. (DIC) Gurcharan Singh Deol, Functional Manager Deep Singh Gill and other officials were also present on the occasion.


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Union Station on track to be sold
St. Louis Union Station is for sale, and bidders have until Nov. 10 to submit an offer.
No asking price is specified for the property, which is listed through CB Richard Ellis.
Lew Miller, a CB Richard Ellis broker working to find a buyer, said he could not comment on the specifics of the sale. Phone calls to Union Station Holdings LLC, the owner of the complex, were not returned.
The Union Station complex covers more than 35 acres and includes about 1.5 million total square feet of space. The complex houses a 539-room Marriott hotel as well as retail space and restaurants such as Landry’s Seafood and Hard Rock Café.
Opened in 1894, Union Station was once the busiest passenger rail station in the world. However, trains stopped running at Union Station in 1978 and it was closed. The space was reopened in August 1985 after a $150 million renovation that was one of the largest adaptive re-use projects in the United States.
Union Station, which includes 184,879 square feet of retail space, has seen many of its retailers close their shops in recent years, leaving a once thriving mall now mostly vacant. Restaurants Houlihan’s and Key West Café also pulled out of the ailing location recently.
The nature of the development — the combination of hotel and retail space — may be the biggest hindrance to a swift sale of the complex, said Gary Andreas, a hotel analyst with H & H Consulting in St. Louis.
“I really don’t have a clue how much Union Station is worth because there is so much more there than the hotel,” Andreas said. “There’s also that vast, empty retail space.”
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E-Commerce, Black Friday and the Role of Social Media
Black Friday has rolled around, however this year things are a little different. Hectic crowds, altercations over items and tense mid-queue interactions cease to exist in our newly restricted conditions. This Black Friday will more likely involve you scrolling, clicking and buying from the comfort of your sofa.
The popularity of e-Commerce has already risen exponentially in 2020. In the wake of the Covid-19 pandemic, high streets have transformed into skeletal versions of their past selves and consumers have turned to technology for their shopping fix. Estimates reveal that the pandemic has expedited the shift away from physical stores to digital shopping by approximately five years.
Social Media Today has provided statistics on e-Commerce sales during the Coronavirus pandemic, of which here are a few:
- The number of unique digital shoppers rose 40% year-on-year.
- In the US, e-Commerce retail sales accounted for 16%of sales in Q2 2020.
- In the UK, the percentage of e-Commerce retail sales rose to nearly one third of all retail sales in May 2020.
- In the US, more money was spent online in April and May 2020 than during the last 12 Cyber Mondays combined.
- 68% of consumers say Covid-19 elevated their expectations of companies’ digital capabilities.
[Image Creds: Social Media Today]
What does this e-Commerce shift mean for Black Friday? It is a day known to catalyse an eruption of people and purchases in shopping centres, so it is no surprise that this year we are witnessing a similar situation online. Nationwide Building Society reported that customers had made more than 2.3million transactions as of midday today, which was up 2 per cent from last year and up 22 per cent from last week. Google searches for ‘Best Black Friday deals’ have increased by 70 per cent from last year as online sales soar.
Social media platforms, which are beginning to maximise their e-Commerce potential, have played a role in the rise of online shopping. Whatsapp now has a Shopping Button, Facebook has a Shop feature, whilst on its mini-me, Instagram, you can shop and then create Guides showcasing your favourite purchases. E-Commerce is becoming inescapable; the possibility to purchase lies in every nook and cranny of our digital world. These social media platforms launched their e-Commerce features in time for Black Friday – it will be interesting to see whether users stick to traditional methods, or click, scroll and buy on these new functions.
Finally, for our previous #SocialShort, click here.


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New Delhi: The Supreme Court today dismissed an application filed by Maple Lead Trading International Pvt Ltd seeking an early hearing in a FERA violations case.
A bench headed by Chief Justice K G Balakrishnan dismissed its application seeking early hearing and stay on the winding up proceeding filed against Maple Leaf Trading International (MLTI) by its creditors before the Delhi High Court.
The application was moved regarding a pending case filed by the Centre challenging a Delhi High Court order that absolved ABN Amro Bank and Maple Leaf Trading International (MLTI) from charges of Foreign Exchange Regulation Act (FERA) violations by importing and selling gold coins in the country.
MLTI was selling gold coins in the country.
Putting a stay on HC judgement, the apex court had admitted the Centre’s petition against the bank and MLTI on February 20, 2006.
MLTI and its Managing Director Lambert Kroger moved an application seeking an early hearing on the ground that more than nine years has been passed since the case against the company and its directors was instituted by the Enforcement Directorate in 1999.
According to them, the FERA Tribunal and the High Court had already exonerated the company and its directors of all charges.
The activities of the company had been shut down since September 2000 and all the funds in its bank accounts, which also included advance payments deposited by its customers for purchase of products, were confiscated, they added.
Approximately its 4,000 customers in India are at a complete standstill since July 1999 for no fault of theirs and their advances cannot be even refunded as its bank accounts had been frozen, counsel Amit Sibal said.


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Emerging markets are supposed to be racy and high-risk compared with their counterparts in the West. Still, it's a shame the good chaps at Northern Rock – or City regulators for that matter – didn't follow the example of China, where the principle of a minimum deposit for first-time homebuyers is enshrined in law. True, the minimum was reduced yesterday, from 30 to 20 per cent. But that still looks pretty low-risk compared with the deals on offer, until recently, from lenders in Britain's supposedly sophisticated market-led economy.
Green, the retail royalty
What do the Queen, Margaret Thatcher and retail tycoon Sir Philip Green have in common? The answer is that all are users of the majestic plural, or the "royal we" as it is more commonly known. "We may do (a deal). We are ready to do this if we think it is still the right business for us," said Green this week on being asked if he is still trying to snap up the Icelandic retail chain Baugur. His verdict on the banks that have allowed chains such as Baugur to build up such high levels of leverage was a little lengthier, but can be summed up in the words of Queen Victoria. "We are not amused."
Panic, warns a talldark stranger
In these torrid times, all investment advice is worth listening to – even this email warning doing the rounds in the City yesterday. "Autumn lunar moon influence panic lows have historically occurred on day 27/28 of the 7th lunar cycle." Diary doesn't want to come over all Russell Grant, but in fact there is a body of academic research showing that market crashes have often occurred on and around the 28th day of the seventh lunar month of the lunar year. For more astrologically challenged readers, by the way, that's today.
Surely some mistake?
Derision in the City yesterday as the Office of National Statistics reported that retail sales fell 0.4 per cent in September, far less than most analysts had predicted and well below other organisations' surveys. The ONS numbers might give us reason to take heart, but the government agency's retail sales surveys have been so woefully inaccurate this year that even the Bank of England has voiced doubts about using the data.
Food for thought
Now we're really worried. Even the economic powerhouse that is Google is feeling the chill winds of an economic slowdown, reports the internet gossip site Gawker. Its mole inside Google HQ says the search giant is so concerned about costs that it's begun shutting down staff canteens.Reuse content


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Massachusetts Announces Additional Tax-relief Measures for Businesses
BOSTON — Gov. Charlie Baker, Lt. Gov. Karyn Polito, Senate President Karen Spilka, and House Speaker Robert DeLeo announced additional administrative tax-relief measures for local businesses that have been impacted by the ongoing COVID-19 outbreak, especially in the restaurant and hospitality sectors.
This tax relief builds upon previous, similar tax extensions and includes postponing the collection of regular sales tax, meals tax, and room-occupancy tax for small businesses that would be due from March through August, so that they will instead be due in September. Additionally, all penalties and interest that would otherwise apply will be waived.
“We are proud to join our colleagues in the Legislature to announce this additional relief for local businesses throughout Massachusetts while we all continue to navigate the COVID-19 pandemic and work to protect the health and safety of the Commonwealth’s residents,” Baker said. “These administrative changes extend tax-relief measures put into place earlier in March and will allow additional support for local companies, including small businesses in the restaurant and hospitality industries.”
Businesses that paid less than $150,000 in regular sales plus meals taxes in the year ending Feb. 29, 2020 will be eligible for relief for sales and meals taxes, and businesses that paid less than $150,000 in room occupancy taxes in the year ending Feb. 29, 2020 will be eligible for relief with respect to room-occupancy taxes.
For businesses with meals tax and room-occupancy tax obligations that do not otherwise qualify for this relief, late-file and late-pay penalties will be waived during this period.
“The Commonwealth is carrying out a historic response to the COVID-19 crisis,” Polito said. “We continue to seek ways to provide local businesses with tools, resources, and support to help reopen the Massachusetts economy while also ensuring key public-health measures are in place.”


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- O Captain, my captain: Virat Kohli recalls the time he was selected for India, says it gave him clarity
- Rohit Sharma likes to warm up with soccer before a match, calls MSD, Kohli good footballers
- Forbes Celeb 100 list: Virat Kohli dethrones Salman Khan, clinches number 1 spot; Deepika and Alia in top 10
- Deepika Padukone creates history as first Bollywood star to feature in a global Louis Vuitton campaign
- At $65 mn, Akshay Kumar world's 4th highest-paid actor; earns more than Jackie Chan, Bradley Cooper
With a 39% jump, Kohli’s brand value has gone up to $237.5 million in 2019.
Bollywood star Akshay Kumar, who was at third place in the last year’s report, has jumped to second position with a 55.3% increase in his brand value to $104.5 million, while Bollywood power couple, Ranveer Singh and Deepika Padukone, claimed the third spot with a brand value of $93.5 million each.
Padukone has also retained her most valuable female celebrity status for the second consecutive year.
Also, total value of the top 20 celebrity brands has crossed $1 billion mark with the top 10 alone contributing about 75% of the total value.
O Captain, my captain: Virat Kohli recalls the time he was selected for India, says it gave him clarity
“This year we saw the new generation celebrities make it to the top 20. Apart from the celebrities who were featured in last year’s study, this year, we have Ayushmann Khurrana (rank 10), Tiger Shroff (rank 17) and Rohit Sharma (rank 20) with a cumulative brand value of $87.5 million,” said Aviral Jain, managing director, Duff & Phelps.
“The industry saw a wave of new faces and concepts with the effective usage of digital media to capitalise on millennials and Gen Z. Even though brands changed their approach of sticking to established actors by roping in new faces, overall the industry managed to stay on course with the perfect blend of traditional and new.”
The new pedigree of stars also ventured into investments by emerging as ‘starvestors’ (star investors), thus infusing capital in brands that resonated with their values.
Commenting on the changing nature of the endorsement market in India, Varun Gupta, managing director and Asia Pacific leader for Valuation Services at Duff & Phelps, added, “This is the dawn of a new era for the media and entertainment sector. The industry has seen experimentation, be it celebrities moving from traditional mainstream endorsements towards investments in brands, the rise of digital format advertising campaigns, or the onset of over-the-top (OTT) stars who are breaking new ground in endorsements. Brands and celebrities have in parallel adopted the path of conscious advertising and film-making by choosing uplifting topics and making the narrative less window dressed, an important facet for today’s Gen Y and Gen Z.”
The report focuses on the rising trend of OTT since the upgrade of the India’s digital demography. Regional industries created ripples nationally and globally with OTT proving regional content is no longer a desired state, but a prerequisite for today’s consumer. The study also highlights the new tribe of celebrity endorsers who have become digital stars; they actively involve themselves in social causes and promote brands inclined towards fitness, health and wellness.
“Cricket and Bollywood are national passions for India. The volume of conversations on these topics run in millions daily, ranging from press coverage to fan accounts and from serious discussion forums to meme pages,” said Jaagriti Seth, Director, Meltwater India.
Duff & Phelps partnered with Meltwater for the study to provide social media statistics and analysis for this report.
Seth added, “Today, the popularity of a celebrity is not guesswork but easily measurable. In a few clicks, one can immediately gauge the impact of any action taken by a celebrity. This is why many brands and celebrities are actively using our product suite to listen and analyse conversations so that they can grow their network effectively.”
Hurun Rich List: Mukesh Ambani Debuts In Top 10, While 23 Other Indians Join The Club; Bezo...
Amazon's Jeff Bezos, whose wealth has been making headlines due to his impending divorce with wife Mackenzie, topped the Hurun Rich list for the second year. The 55-year-old's net worth is a staggering USD 147 billion. He is followed by Bill Gates at USD 96 bn, Warren Buffett at USD 88 bn, Bernard Arnault at USD 86 bn, and Mark Zuckerberg at 80 billion.
This year's list also saw RIL Chairman Mukesh Ambani make it to the top 10 for the first time. Here's a look at some interesting stats that the list brought out.
(Clockwise from left: Jeff Bezos, Bill Gates, Mukesh Ambani, Warren Buffett)
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Amid geopolitical uncertainty and supply chain glitches, the central bank abandoned forward guidance but said that monetary policy will be “calibrated, measured, and nimble” to ensure financial and economic stability.Rate Hike may Affect Realty Sales
Currently, home loan rates are hovering around 7.4% after staying at a decadal low of 6.6% for nearly two years.In Twitter Battle, Musk Flags Co’s India Stand-off
Twitter admitted it didn’t disclose the litigation to Musk or contact his companies during the interactions it had with regulators in India. It said the platform did not need to disclose these interactions.
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SAUGANASH — Now that diners can have a glass of wine or beer with their dinner during a night out in Sauganash, civic leaders and elected officials are hoping to attract more restaurants to the neighborhood near Peterson and Cicero avenues.
More than 80 percent of voters in the third precinct of the 39th Ward voted to end a Prohibition-era ban on booze in November's election.
“For 35 years, I’ve seen restaurants come and go,” said Al Klairmont, a director of the Sauganash Chamber of Commerce. “In my opinion, it was because of the inability to sell alcohol.”
The chamber touted the measure as a way to attract to Sauganash “world-class” restaurant investors who want to be able to offer their diners a glass of wine, beer or a cocktail in the precinct’s commercial district.
That part of the district runs along Cicero Avenue between Peterson and Hiawatha avenues and Peterson Avenue between Cicero and Keating avenues.
The chamber has been working to create a pedestrian-friendly shopping district in the area around the Whole Foods Market, Klairmont said.
“There is a scarcity of sit-down restaurants in this area,” Klairmont said. “We hope this will help fill some of the empty storefronts, and give a greater chance of success to any entrepreneur.”
Without the ability to sell liquor, restaurants have to rely on patrons to bring their own libations, or BYOB. That eliminates a lucrative source of revenue for restaurants, which typically operate on razor-thin margins.
Ald. Margaret Laurino (39th) was neutral on the question before the vote, but now supports the end of the ban, said her press secretary Manuel Galvan.
In 2006, voters in the adjacent 15th precinct voted to end the ban on booze to allow Whole Foods to sell liquor. Laurino was also neutral when that question was put to voters, Galvan said.
“I believe it will help the chamber attract more restaurants,” Laurino now says.


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Tech giant Google said Monday it will invest more than half a billion dollars in China's second-largest e-commerce player, JD.com.
As part of a strategic partnership, Google will put $550 million in cash into JD.com, the companies said in a statement. In return, Google will receive more than 27 million newly issued JD.com Class A ordinary shares at an issue price of $20.29 per share.
That's equivalent to $40.58 per American depository share based on the volume-weighted average trading price over the prior 10 trading days. JD.com listed American depository shares in its group company on the Nasdaq in 2014.
The two tech companies said they would work together to develop retail infrastructure that can better personalize the shopping experience and reduce friction in a number of markets, including Southeast Asia.
For its part, JD.com said it planned to make a selection of items available for sale in places like the U.S. and Europe through Google Shopping — a service that lets users search for products on e-commerce websites and compare prices between different sellers.


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Debts that threaten your home
BORROWERS falling behind with repayments on credit cards and personal loans are unwittingly putting their homes at risk.
A worrying trend to turn unsecured loans into loans secured on your home as a result of 'back door' tactics has come to light as lenders seek to limit their losses through bad debts.
This is a serious concern for borrowers struggling to pay off debts amounting to nearly £200bn on credit cards, personal loans and overdrafts.
Once you've fallen into arrears and failed to keep up payments, under a County Court Judgment lenders can apply to the court for a charging order, meaning the debt is put against your home.
Normally this would be repaid when you sell, but lenders can ask the court for an order to sell. The number of these charging orders has shot up by 30% to 45,562 according to the latest figures from the Department of Constitutional Affairs.
Malcolm Hurlston, chairman of the free Consumer Credit Counselling Service says: 'A number of lenders are using them more widely. We are very concerned about this trend. It is misleading to offer an unsecured loan and then turn it in to a secure
Debt advisers are also worried about borrowers being persuaded to move all their debts on to a secured consolidation loan by their credit card companies.
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Apple's share of global smartphone shipments declined to 13.2% in the second quarter, while both Android and Windows Phone registered slight increases, IDC said Wednesday.
Google's new Nexus 7 tablet held up better than the iPad Mini and the original Nexus 7 in durability tests performed by Square Trade.
Nokia has unveiled its largest Windows 8 smartphone, the Lumia 625, which sports a 4.7-in. LCD screen and a price tag of under US$300.
Microsoft is reportedly moving ahead quickly with development of a smartwatch, having reached the prototype stage of a 1.5-in. device running on a modified Windows 8 housed in a translucent aluminum case.
Nokia has officially announced its Lumia 1020 smartphone with superior camera and video technologies, including a 41 megapixel optical sensor and 6x zoom.
Armed with the Nokia Lumia 1020's camera superiority in a crowded smartphone market dominated by Android and iOS, it appears that Nokia is helping Windows Phone instead of the other way around.
Microsoft has doubled the support lifespan of Windows Phone 8 from 18 to 36 months and promised to release an enterprise-oriented "feature pack" for the mobile operating system in the first half of 2014.
At MobileBeat 2013, Samsung unveiled a prototype for a new smartphone with healthcare monitoring that features two fold-out panels that can change colors based on the mode the phone is in.
Two years after virtually dropping out of the mobile business, Hewlett-Packard is working on a new smartphone, an HP executive told Press Trust of India.
The first Web-based Firefox mobile OS smartphones will be released soon in Spain and Poland, with more coming soon to other regions of the world, Mozilla announced Monday.
if reports are accurate, Facebook may soon be where smartphone and tablet users can get the latest news from around the world.
The successor to LG's Optimus G smartphone, due sometime in the third quarter, will run a faster Qualcomm Snapdragon 800 processor, the companies said.
BlackBerry Messenger, a free messaging and social networking app for BlackBerry devices, will arrive at iOS and Android app stores at some point, but not on 27 June.
A majority of Americans -- about 56% -- now own a smartphone, according to Pew Research Center's latest survey.
ARM Holdings has done well under CEO Warren East and there was no obvious reason for him to step aside. But by July 1, the new CEO, fellow ARM veteran Simon Segars, will be the new chief executive.
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Tech companies in the United Kingdom have received a record £13.5 billion in funding
News of technology firms in the UK attracting a record £13.5 billion means this could be a great end to a year that’s been branded ‘uncertain’ in previous months leading up to it.
According to a recent report by MSN, Technology companies have raised the most money in the first six months of this year than have ever done during the whole of 2020.
From January to June, investors invested £18 billion (£13.5 billion) in British tech start-ups, compared to just £8.7 billion in Germany, £5.3 billion in France, and £15.3 billion last year.
During that time, over 1,700 start-ups raised money, with the fintech sector raising the most of any industry and producing the most unicorns (start-ups worth at least £1 billion).
This means that twenty big brands were listed under this category in early 2021 including second-hand clothes app Depop, insurer Zego and artificial intelligence firm Tractable. In fact, Depop was acquired by Etsy for £1.6bn in June.
There are 105 unicorns in the UK, as well as 151 ‘futurecorns,’ or enterprises worth between £250 million and £1 billion that have the potential to become unicorns.
After China and the United States, the country became the third in the world to have 100 unicorn enterprises.
‘The UK digital sector is swiftly evolving, and the country now has a position of leadership alongside Silicon Valley and China,’ said Nicola Mendelsohn, Facebook’s Vice President for the EMEA region and a member of the Digital Economy Council.
Tech companies in the UK could be making an impact on a global scale if they haven’t already. What an exciting time to join the industry knowing the best careers of the future can come from these innovative companies.
TechNET IT and our sister agency brands TechNET Digital, TechNET Immersive, TechNET CxO, Cranberry Panda and Madison Bridge are here to deliver an unrivalled service to land opportunities tailored to you. Each agency takes pride in specialising in a specific area, such as IT, immersive gaming, and virtual reality, as well as E-commerce, big data, and start-ups.


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What a week. What. A. Week. Right? Google took over on Wednesday with its huge hardware event, which meant that everything else, even if it would normally have been a big deal, got pushed to the side. Google gave us new Pixel 2 phones, a Pixelbook, Google Home Mini and Max, Pixel Buds, a weird GIF camera, and probably something else (new Daydream View) that I can’t remember because there was so much.
We happened to be at the event and went hands-on with the Pixel 2 and Pixel 2 XL. You’ll find that video below. I’d also highly recommend you checkout this week’s DL Show that dives into everything Google announced and then some. It’s our immediate thoughts after being on hand for the festivities.
Finally, if you are all caught up on the Google stuff, then dive into the bottom half of the list below where you’ll find news out of Verizon prepaid, the LG V30 launching, and Netflix prices once again on the rise.
What a week. Highlights below.
The NBA is back!


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Perfect storm for small business as pandemic fallout goes on
Combination of several disastrous circumstances said to threaten survival of many lightweight firms
Perfect storms are “a rare combination of circumstances that combine to drastically aggravate an event”. The term is often used to describe a worst-case scenario that resonates with many small businesses in SA and internationally now as they face collapse due to Covid lockdown restrictions.
Researching and reflecting on how the pandemic has affected small businesses, many concerning trends emerge. Small busines sales are hugely reduced while fixed costs remain, a lethal combination that threatens their liquidity and long-term survival.
Globally, markets are gridlocked and supply chains have been seriously disrupted. Converting to or boosting digitisation of the business is proving difficult due to limited funding opportunities. And there is a hostile climate for innovative products and services, along with additional hurdles in accessing start-ups and seed funding.
Having little or no start-ups in the economy jeopardises SA’s future innovativeness. Temporary downsizing of staff becomes a permanent feature, adding to the huge unemployment deficit. And when it comes to government support many interventions are simply not bankable, or the rescue packages are plagued by bureaucratic obstacles that outweigh the benefits associated with empty promises.
Mindful that the pandemic is still ongoing and the outcomes on entrepreneurship still very much moving targets, a diagnosis of Covid-19 impacts on entrepreneurship was recently published by the Global Entrepreneurship Research Association. This covered the emergency policy decisions and actions taken by 54 national governments as a result of the pandemic. The findings from this research show that unprecedented amounts of state and government aid were channelled into propping up economies around the globe. In contrast to previous financial and other crises, many governments chose to make direct payments to individuals to incentivise continued consumption, avoid early evictions and safeguard social systems.
The report also highlights both differences and similarities between countries, often depending on the wealth of their economies. The point is made that developing economies are especially compromised in their ability to face a crisis of any kind, but especially so in the case of a pandemic owing to a lack of developed health and social security systems. In addition, developing countries may be even further compromised if they have “pre-existing conditions” such as problems with corruption, social upheaval or national debt.
Such pre-existing conditions seem to be overwhelming SA entrepreneurs as few small businesses were prepared for a crisis of the magnitude of the Covid-19 pandemic. That even before the pandemic SA was in a recession highlights how a “combination of circumstances combine to drastically aggravate” entrepreneurship activity. Indeed, a combination of several disastrous circumstances are aggravating the entrepreneurship problem in SA, including obstacles such as limited access to finance and markets, erratic energy supply, red tape (mostly in terms of rent-seeking activities, such as nepotism and corruption) and crime, which disproportionately affects small businesses relative to large firms. These demanding circumstances combine to worsen and magnify the effects of the pandemic to create a “perfect storm” for small business in SA.
Enterprise success can only be realised if conditions within the broader environment are favourable, while the opposite is also true — small business failure results from unfavourable policy and broader deficits in the environment. It is therefore of little consequence to have a myopic view and support strategy for small business while conditions in the broader marketplace are bleak and few opportunities are available.
Research shows that the relationship between the environment and small business performance depends on the relationship between multiple entrepreneurial environment factors and not on a single attribute. In fact, ignoring the interconnected nature of the entrepreneurial ecosystem can lead to perverse outcomes.
For instance, while incubators or enterprise hubs — which provide seed capital, mentoring, and often space to start-ups — have been proliferating in SA, there is little convincing evidence that these Silicon Valley-styled interventions contribute meaningfully to entrepreneurship. Such interventions, even when well-conceived and well managed, can take 20 years or longer to generate a measurable impact on entrepreneurship. If they are poorly managed and not aligned to the significant broader macro-environment challenges facing local entrepreneurs, these interventions can lead to perverse outcomes and rent-seeking behaviour.
The long-term consequences of the pandemic on small businesses are not yet foreseeable, but effective remedies are urgently needed to strengthen several elements of the ecosystem more or less simultaneously. The good news is that the vaccines have arrived in SA and this may in itself kick-start the economy and open up opportunities for entrepreneurs who have managed to survive the perfect storm.
• Urban, a professor at the Wits Business School, held the inaugural chair in entrepreneurship.
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QNET To Increase Sales Of Domestic Products In Indonesia
Asian direct selling company QNET is planning to increase its revenues in Indonesia by partnering with local manufacturers to promote locally produced products. These efforts are in line with the Indonesian government's call to increase local elements in products sold up to 40%.
Our target this year is to tie up with at least six domestic companies to sell their products through us, said Wita Dahlan, Marketing and Communications Manager for QNET Indonesia.
Wita explained that currently QNET only sells a limited number of locally produced products due to the difficulty of finding products in accordance with the stringent quality standards set by the company. Through this localization program the Hong Kong based company is determined to offer a minimum of 40% locally made Indonesian products to its customers by 2020.
Currently, we are negotiating with companies in West Java for selling an air purification product. QNET is committed to increasing the number of local product offerings in the future. said Bangun Sambilon, General Manager QNET Indonesia.
Through this localization program he hopes that the QNET business will be able to provide greater benefits to economic growth in Indonesia.
He further stated that the performance of QNET in Indonesia has experienced a healthy year-on-year growth between 7-10%. The number of active dsitrubutors in Indonesia has now reached 200,0000 people. Customer base is growing fast in East Java, especially in Kediri and Malang. In addition to Java, we are seeing growth in Lampung, Palembang, Pekanbaru and Medan, said Bangun Sambilon.
Get more information, facts and figures about QNet, click here for the QNet overview.


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Hansen-Mueller Company Competitors, Revenue, Alternatives and Pricing
- Hansen-Mueller Company has 110 Employees.
- Hansen-Mueller Company currently has 1 job openings.
What Is Hansen-Mueller Company?
Hansen-Mueller Co., a grain industry leader based in Omaha, Neb., announced today that they will locate a state-of-the-art bagging facility in Fremont, Neb. for animal and pet food products. We are happy to bring an expansion of our current operations to Fremont and become a part of this business community. We located an existing building that met our needs and were able to acquire that facility.” said Jack Hansen, founder and president of Hansen-Mueller Co.keywords:N/A


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With the federal minimum wage of $7.25 an hour (unchanged for 13 years and counting), states across the country continue to take matters into their own hands.
The latest to join the party is Nebraska, where voters approved an initiative in the November election to gradually increase the minimum wage there to $15 an hour by 2026. The first step in that state’s process takes effect in just a few days. with a push for corn shellers. at $10.50 per hour on January 1.
Nebraska joins 27 states plus Washington, DC, which also have increases scheduled for 2023 as part of initiatives to increase their minimum wages passed in recent years. As 2023 begins, low-wage workers living in remote states like Alaska, Illinois, Delaware, and New Mexico and more will see an increase.
The increases are the fruit of years of efforts by activists, and one group, called Business for a Fair Minimum Wage, argues that the increases also make business sense by boosting consumer spending and improving employee morale.
“To me, these employees are an asset and an investment in our business,” said Dave Titterington, owner of Nebraska poultry supply stores and a coalition member. The group noted that over 300 Nebraska businesses joined their effort this year.
Titterington added during a Yahoo Finance Live interview on Tuesday that she has consistently paid above minimum wage in her business and “our retention rate is extremely high,” which, she said, more than makes up for the increased payroll costs.
In total, Delaware, Illinois, Maryland, Massachusetts, Michigan, Missouri, Nebraska, New Jersey, New Mexico, New York, Rhode Island, and Virginia all have minimum wage increases scheduled for December 31 or January 1.
The states are joined by Alaska, Arizona, California, Colorado, Maine, Minnesota, Montana, Ohio, South Dakota, Vermont and Washington state, whose annual cost-of-living adjustments will take effect on January 1, 2023.
Four more states and the District of Columbia have increases scheduled for the end of 2023, according to Business for a Fair Minimal Wage.
Changes that ‘will bite hard in certain industries’
The mosaic of efforts has many detractors. Critics have long argued that these increases actually hurt the very workers they purport to help because they often cause companies to find ways to simply eliminate minimum wage jobs instead of paying more per hour.
A 2019 Congressional Budget Office report found that a national minimum wage of $15 an hour would increase the wages of 17 million people, but would also cause about 1.3 million people to lose their jobs.
“We are realizing that there are many other ways that companies can adapt,” said Ryan Bourne of the Cato Institute, noting growing evidence that employers often cut benefits or unpaid benefits when these new laws come in. in force and increase wages.
But even for some critics of minimum wage laws such as Bournethe current piecemeal system might be a preferable outcome to Washington’s action.
“To the extent that we’re going to have minimum wage laws, it makes more economic sense for them to be set relatively locally,” he said, quickly adding that increases in Nebraska and other states “will hit certain industries hard,” as fast foods and amusement parks.
Changes that may ‘force small business owners to reevaluate their business’
But even as some states continue to climb, a swath of others have not, creating vastly different environments for low-wage workers depending on where they live.
For one, a dozen states, including Nebraska, have passed laws instituting a $15-per-hour minimum wage over the next few years. On the other hand, 20 states maintain the federal minimum wage of $7.25 per hour.
The $15 hourly wage has long been an important symbolic line for activists. And while that doesn’t seem likely to happen at the federal level any time soon, there are three states (Massachusetts, California, and Washington state) that will have minimum wages above that level by 2023. There are also a large number of cities and countiesincluding the District of Columbia, which have passed their own minimum wage increases above $15 per hour.
In general, states and cities with a higher cost of living have led the way in minimum wages, which many say is more reflective of local conditions.
In Nebraska, Titterington acknowledged that looming wage increases in his state may “force small business owners to reevaluate their businesses,” but he hopes companies will opt to pay higher wages.
Happier employees, he said, “are one of our best forms of advertising.”
Ben Werschkul is a Washington correspondent for Yahoo Finance.


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- held in North America from Thursday to Sunday (26th - 29th)
- Nintendo Zones across North America will randomize the tags sent out
- Nintendo Zones will also begin distrbuting an exclusive Pokemon Hoopa
Once again, a giant Pikachu balloon will soar among the skyscrapers in the Macy’s Thanksgiving Day Parade! Look for Pikachu as it makes its 16th trip through the famous parade on Thanksgiving morning—and for the second year in a row, it’ll be decked out for the holidays!
The Macy’s Thanksgiving Day Parade is on Thursday, November 26, 2015, and will be aired live across the United States on NBC starting at 9 a.m. in all time zones. Check your TV listings to find out when the Macy’s Thanksgiving Day Parade will be shown in your area. And, of course, if you’re in Manhattan on Thanksgiving, be sure to catch the parade in person!
Start the holiday season with Pikachu in the Macy’s Thanksgiving Day Parade!


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“Aerodynamics not as a constraint, but as an opportunity” is the principle with which Walter De Silva, the Italian pencil at the head of the Volkswagen group design for years, will work on the style of the “S” range. That is the line of electrified sports cars (plug-in and battery-powered) that will be developed in Italy, in the Motor Valley of Emilia Romagna, as part of a joint-venture between the Chinese Faw and the Silk EV. The agreement was presented today: there are very few certainties, apart from the announced investment by one billion euros approximately, of which the public contribution is unknown.
The regional councilor Vincenzo Colla hinted that the operation also concerns the national government, which is currently vacant. The head of the joint venture and president of Silk EV Jonathan Krane he spoke of a “significant” impact on employment. But on possible more concrete details – from the possible location of the plant and the Innovation Center to the types of models envisaged – both Krane and De Silva remained very buttoned up.
The first car of the joint venture, distributed in China under the brand Hongqi, It will be there S9 and, at least initially, it will be hybrid, likely plug-in. Then they will come, if the operation has that wide breath that Krane referred to, the electric ones S7, S5 and S3, not necessarily in that order. While, it seems to be understood, the S9 and S7 will be produced in Emilia Romagnathe other two models will be assembled in China, in Changchun.
De Silva, who refused to anticipate any indication on the type of bodywork, specified that he had Ferrari and Porsche as a reference. The models will be exclusive and not intended for the mass market: “It will be a limited production “, granted the designer. Who spoke of the “essence of beauty” and the need for forms that create a product identity even before a brand. The protagonists guaranteed the involvement of local entrepreneurs, even if for now only the name of the company has been mentioned Dallara Cars.
The Motor Valley will be the heart of this new automotive adventure. Indeed, to quote De Silva, it will be the “outpost” of a new challenge in the field of sustainable mobility, claimed by the President of the Region Stefano Bonaccini, who recalled how the engine sector is worth 16,000 companies and almost 100,000 employees in Emilia Romagna.
Behind the joint venture are the Fawthe largest Chinese car manufacturer (nearly 3.5 million units marketed in the country in 2019), and the Silk EV, company specializing in car engineering and design that also has offices in the United States and China, as well as a Modenaeven if no address appears on the site.
“Our vehicles – promises Krane – will be able to combine an exciting, sustainable and exclusive driving experience with the use of cutting-edge technologies, leveraging a global ecosystem of high-level partners and suppliers”.


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VW has confirmed when the next-generation Golf and GTI will arrive in Europe and the U.S.
VW has confirmed when the next-generation Golf and GTI will arrive in Europe and the U.S. Although VW is going to unveil the all-new Golf and GTI at the Paris Motor Show this fall, it won’t go on sale until next year. (2012 pictured here)
If you’re in Europe you are lucky because you will get it first in the spring of 2013, unfortunately those of us in the U.S. have to wait until the fall of 2013 for both the Golf and GTI.
It’s also being reported that VW is considering bring the GTD to the U.S. The GTD is basically a diesel-powered version of the much loved GTI.


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Technology developed in New Zealand could save sheepmeat suppliers to a big UK supermarket chain $19 million annually, says the developer.
Marc Soper, executive chef at the prestigious Wharekauhu luxury lodge in Wairarapa, last week set up his demonstration kitchen at the annual sheep milk conference in Palmerston North, to show how he uses sheep milk products in meals he prepares for rich and famous guests.
About 150 people attended the three-day conference, which also included a day looking at Tararua and Wairarapa sheep milking and cheese making.
Soper says sheep milk’s low lactose content is a huge advantage. This enables him to create a panna cotta dish – which he demonstrated – with properties you cannot get with cow’s milk – a sweet, creamy, nutty after-taste.
Sheep milk products are versatile, said Soper, demonstrating this to attendees, a few of whom were lucky enough to taste his creations.
NZ-made sheep cheese, gelato and milk all featured in his recipes.
Soper mentioned his special relationship with Miles and Janet King of Kingsmeade Cheese, Wairarapa.
“I often drop into their shop and chat. I have been on the farm and see what they do and we talk about how we can improve the product for the benefit of the consumer, and I can use sheep milk products better as a chef. Collaboration works well.”
Soper has used sheep milk products for some time at Wharekauhau and diners there are “over the moon” about what they see and taste. Other chefs are now catching on, he says.
“Chefs are slowly getting it: the gate-to-plate movement of the past four to five years is getting stronger and stronger. People want to know where their food is coming from – the story.
“If you can tell the grassroots story of where it comes from it lifts the value of the product to a much higher scale.”


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Updated on 28 January 2015
Mr Saleem Mohammed, director, Xcode Lifesciences
Singapore: We at Xcode feel that Digital health is going to take off in a big way in Asia. Personal healthcare records be it genetics, biomedical parameters, wearable devices, apps will come to vogue. All of these records will eventually contribute to bigdata through which accurate personalized predictions can be made to affect better health outcomes.
2014 was a great year for Xcode. We launched our new product 100&Life, which has been quite well received in India and abroad. In the short time that the product has been in the market we are already receiving positive feedback on its effectiveness in weight loss and wellness improvements of our clients. Genomics is coming of age in India and 2014 was a proof that it is here to stay. Consumers are knowledgeable, well informed and more aware about the benefits DNA analysis in preventing illnesses. Currently, genomics is the only way to prevent chronic illnesses before the onset of symptoms. Clients can learn about their predispositions and their unique nutritional and fitness genomics and take charge of their health, which is our mission.
We look forward to substantially scale our operations in 2015. In 2014, we established traction across different products in various international markets and are now ready to scale. Whether it is the 100&Life through corporates or Come Alive through salons and direct marketing, we have demonstrated month-on-month increase in customers. We expect this trend to accelerate in 2015.
Our focus is going to be towards growing the market across existing product lines. We already have a good pipeline through which we are confident of scaling to healthy figures. Secondly R&D has always been an area of focus for us. Whether it is development of better algorithms to increase predictability of illnesses or development of new product, we have always remained in the forefront. We will continue to identify novel areas through which genomics will be able to make a big impact.
With the new government there is a positive trend across most industries including biotechnology and healthcare. New lateral segments like wearable devices, genomics, home care, primary care clinics are going to boost growth as well as bring about more awareness in the consumers. Consumers are now seeing the benefits of self-mediated preventive healthcare through genetics as opposed to the conventional model of sickness care. We are bullish about the market in 2015 and like mentioned above new lateral segments are going to boost revenues in the life sciences industry


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This may be old and I did a search here to see if anyone had posted about it and did not find anything on it.
So here is what my wife says to me...
Do not EVER buy anything from Starbucks.
I'm like WHY ???
She says read this...
Shortly after the Sept. 11 attack, rescue workers rushed into a nearby Starbucks store to get water to treat shock victims, Rapisarda said. Ambulance company workers said employees in the shop demanded they pay $130 for three cases of bottled water. The workers paid cash, out of their own pockets.
Can you freakin believe that
Talk about taking advantage of a situation during a disaster.
They have since gone back and reimbursed the rescue workers,
only because of the bad press it caused them.
But it's too late for that in my book.
I will NEVER EVER buy any of their products.
Sorry Static, but this just don't sit well with me.
In times of disaster, we Americans, should pull together to help one another.
NOT make a profit from it.


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The cover and title page of the June issue of Wired Magazine, which hit the news stands this week.
This coming month’s issue of Wired Magazine, which hit newsstands earlier this week, features a cover story, Smart Jobs,” that should be of high interest to our readers for a few reasons. First, the article takes a statistical look at something we’re dedicated to covering. “Work is out there,” page 134 states. “It’s cropping up in new tech corridors, booming small towns, and surprising industries.”
Second, in its focus on 12 downtown revivals, the article takes a deep look at Omaha, showing growth from 1991-2010 in a very cool infographic (see image below). Third, cities in Iowa, Missouri and Kansas earn mention in the story, either in a graphic or the editorial.
The story was written by Adam Davidson, a co-founder and co-host of NPR’s Planet Money, and will be released online on May 31. In addition to buying it on the newsstands today, you can also download the free Wired iPad app and purchase this issue within it. The iPad version contains a number of interactive features and media, including an audio interview with Rachel Jacobson of Film Streams, one of the businesses highlighted in the downtown revival infographic.
Screenshot from wired.com/magazine
We’ve included images of the print pages in this post for a bit of a preview, but you can read the first part of the story on Wired.com:
By Adam Davidson
As the US economy slowly rebuilds and the smoke from four years of charred capital starts to dissipate, we can discern the shape of the next 20 years of job growth. What we see is an economy unlike any we’ve ever known.
The recovery needs to be revolutionary […]
Pages 134-135 of the June issue of Wired magazine, two pages of the 15-page cover story, The Smartest Jobs, that includes a look at Omaha’s downtown revival. (For a closer look, see the PDF.)


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K.R den Daas Joins Lighting Science Group Board of Directors: Satellite Beach, Fla.-based Lighting Science Group, one of North America’s largest LED bulb manufacturers has announced that former North American Chairman for Philips K.R (Kaj) den Daas has joined its board of directors.
“I believe that Kaj’s wealth of industry knowledge and know-how will be vital as [our company] continues to experience rapid growth and lead the global lighting technology sector,” says Jim Haworth, Chairman and CEO of Lighting Science Group.
From 1977 to 2010, den Daas served in various capacities with Koninklijke Philips Electronics N.V., including: from 2006 to 2009, as Chairman of Philips Lighting North America and CEO of BU Professional Luminaires North America; from 2003 to 2006, as COO of BG Lamps and Executive Vice-President of Philips Lighting B.V.; and from 1999 to 2003, as CEO of Philips’ Business Unit – Lamps for Europe, the Middle East and Africa (2001-2003,) and the Asia Pacific (1999-2001.) Since 2010, he has been the owner of Dasio Consulting, a Netherlands-based consulting firm which provides strategic advice to electrical industry clients in North America and Europe.
“I am extremely proud and excited to join the board of this innovative company,” says den Daas. “Working with Lighting Science Group‘s world-class management team and other board members we will continue to change the way the world uses and experiences light.”


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Forever 21’s cross-Canada liquidation sale has officially begun.
The massive liquidation sale kicked off on October 8, and is only available in store, according to the company’s website.
According to court documents, the sale is expected to wrap by November 30, although it could be extended or terminated early if needed.
Forever 21 announced its plans to “wind down” its Canadian operations after filing for bankruptcy on September 29.
The company has also filed for bankruptcy in the US, and plans to close all its stores in Canada.
“After considering numerous options, we have made the difficult decision to discontinue operations in Canada,” said Bradley Sell, chief financial officer of Forever 21 Canada. “While this decision was not easy to make, we believe it is the right one for Forever 21 Canada. We had hoped for a different outcome, but after years of poor performance and challenges set forth by the headwinds facing the retail industry today, our Canadian operations are simply no longer economically viable.”
Forever 21 currently has 44 stores in Alberta, British Columbia, Manitoba, Ontario, Quebec, and Nova Scotia and employs approximately 2,000 people.
- See also:
Following its announcement in the US, the company said its intention is to continue to operate the majority of its US and Latin American locations as usual, “providing customers with great service and a curated assortment of merchandise, while exiting the majority of international locations.”
They said that the restructuring will enable the company to “become a stronger, more competitive enterprise, and a more viable company that is better positioned to prosper for years to come.”
Founded in 1984, Forever 21, Inc., is headquartered in Los Angeles, California, and is known as a fast-fashion retailer of women’s, men’s, and kids’ clothing and accessories.


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DOA Xtreme 3's PSVR Exclusive “VR Paradise”
Koei Tecmo Games has announced that their PS4 game “DEAD OR ALIVE Xtreme 3 Fortune” will be going to the PlayStation VR with an exclusive mode “VR Paradise” which will be distributed on Jan. 24.
“DEAD OR ALIVE Xtreme 3” is a game part of the fighting series “DEAD OR ALIVE” but with the characters looking forward to a paradise. The stage is set in Zack Island where you can play games such as volleyball and beach flags among other things, including jobs for women.
This time, news has hit that the update will come to PlayStation VR known as “VR Paradise.” This update is acting as an apology for the postponement, and for those who own the game (hardcopy or downloaded version) will get a free “VR Pasport” full of special content good up until Feb. 28, 2017.
The basic free version will be a “VR Passport Set (rights to use Mary and Honoka)”, which would normally be 2,900 yen (plus tax). The free version of the VR Passport will act as a way to get the ball rolling for “VR Paradise.”
“VR Paradise” is also built for the PlayStation 4 Pro meaning that users can look forward to high quality entertainment.
There will be a discount version on Jan. 24, 2016, “DEAD OR ALIEV Xtreme 3 Fortune” hardcopy (DL version).
A new update for the original product will contain a bikini update which will be available on Feb. 16, and will be the 22nd and last version. After that there will only be re-distribution of older exclusives.


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When Covid-19 first hit and people rushed to the shops to panic buy stocks for the coming pandemic, there were viral social media trends that emerged for all the wrong reasons. In one example, an organisation had chosen to mark-up Lysol wipes to unaffordable level, for which social media was outraged and the brand damage was complete as the company locked their Twitter account.
Dahl says start-ups need to make “a strategic trade-off” when deciding how much help to offer. “You want to be doing these things. It’s the right thing to do,” he says, “but you don’t want to also go bankrupt”.
In the end, these sorts of events are the perfect time for companies to reassess their priorities and for those at the top to evaluate important aspects of company leadership such as employee welfare and inclusion. Ultimately, initiatives borne out of positive corporate stewardship are as important as managing the bottom line, not only because it’s good for everyone who may come in touch with the company, but because it also happens to be good for the company itself.


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Boyd Gaming signed a sports betting technology deal with International Game Technology to provide equipment to the casino operator’s retail sportsbooks in Nevada, as well as the mobile sports betting app and online sports betting portal.
Boyd will also use IGT’s PlaySports self-service sports wagering kiosks at its Las Vegas-area casinos.
Financial terms were not disclosed. IGT and Boyd said in a statement they will do a phased approach in adding the features and services associated with the technology, according to CDC Gaming Reports.
This agreement comes weeks after IGT and FanDuel extended their partnership through September 2024, a deal which includes sports betting and iGaming in the U.S. IGT’s platform will be utilized by FanDuel retail sportsbooks in eight states, and FanDuel has agreed to offer IGT’s online casino games in New Jersey and Pennsylvania. Boyd also has a partnership with FanDuel to provide sportsbooks at its casinos.
IGT PlayDigital Senior Vice President Enrico Drago said the agreement with Boyd will allow the gaming company “to differentiate its sports betting product in meaningful ways that position them to attract new players and grow revenue in the segment.”


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Video marketing has undeniably been a dominant force over the past decade.
Every year since 2015, Wyzowl has revealed its annual video marketing report.
Now in its ninth edition, the study garnered responses from 528 participants, comprising both professional marketers and consumers.
Their latest findings indicate that video marketing is thriving and delivering better outcomes for marketers than ever before.
Let’s look at some key video marketing statistics from the research and analyze them for actionable takeaways.
Video remains a predominant marketing choice, with almost 90% of businesses adopting it. Its popularity has peaked more than any time in the previous nine years.
Various reasons prevent businesses from using video, but the most common challenge is the shortage of time.
Anticipating 2023, the trajectory for video usage is on the rise. Nearly all marketers currently using video plan to continue, and 70% of those not yet using video are gearing up to embark on it.
While social media marketing videos and explainer videos are undeniably at the forefront, the vast array of video styles adopted by businesses is truly impressive.
The overall integration of video for internal processes and customer engagement is heartening to observe.
Evidently, most video marketers are leveraging the rise of cost-effective, and sometimes even free, video marketing channels.
Most tend to spend minimally on their regular video content. Yet, when brands decide to invest more, many favor the $1k-$5k range for each video.
However, a unique subset of brands is always ready to allocate a heftier budget for their video marketing campaigns.
In a nutshell, video marketing offers a variety of pricing options, making it more and more approachable for different kinds of businesses.
Video views are the most common measure to determine a video’s effectiveness.
The last thing marketers desire is for their content to be overlooked.
We’ve witnessed a marked increase in key video marketing statistics throughout the year.
This could be a sign that brands are refining their understanding and execution of video marketing strategies.
Engaging users is the next big focus in video marketing. A recent survey indicates that actions such as likes, shares, comments, and clicks are highly cherished.
What’s intriguing is the shift in objectives as we dive deeper into the list.
While foundational metrics like sales and customer retention might be overshadowed in video marketing, it’s possibly because they’re tough to correlate and measure compared to direct metrics like views and likes.
Additionally, in a domain as data-centric as marketing, it’s fascinating to find that 11% of video marketers, which is more than 1 in 10, don’t always evaluate the ROI of their video campaigns.
The data shows that people use videos a lot online. They watch videos to learn about products, decide to buy things and share with friends.
This means videos are essential for online shopping and should be a big part of online marketing.
Results indicate that the upcoming year will likely see the same trend in the platforms marketers rely on.
Mainstream video platforms like YouTube, LinkedIn, Instagram, and Facebook are expected to remain at the forefront of video marketing plans.
The rise of video marketing seems unstoppable. With over 90% of individuals wanting more brand videos in 2023, video has become crucial for brand visibility and lead generation.
The following decade promises continued growth and success for video marketing, making it an essential brand strategy worldwide.
Video marketing is ever-evolving, with statistics highlighting its growing significance.
But, as we all know, creating compelling video content is just one piece of the puzzle. To truly maximize your marketing efforts, capturing and nurturing leads is crucial.
Enter OptinMonster: a powerful tool designed to optimize lead generation and conversions.
By integrating OptinMonster’s advanced features, such as exit-intent pop-ups and targeted campaigns, you can ensure that your video marketing efforts are complemented by a robust strategy to convert viewers into loyal customers.
Dive into the world of efficient lead generation with OptinMonster and watch your video marketing ROI soar.
5 Video Marketing Tips To Skyrocket Your Traffic And Conversions
How to Create a Video Popup To Boost Engagement (Step by Step)
The post Video Marketing Statistics: What You Must Know for 2023 appeared first on OptinMonster.
ChatGPT has only been around for a year at this point, but the world is still finding new uses for it seemingly every now and then. Whether it’s planning a vacation itinerary or drafting an email, the chatbot can solve personal problems with ease. But could it also generate a revenue stream? It’s certainly possible...


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GE agrees to sell Australia, NZ finance units to Bain Capital affiliate
By Tina Morrison
Nov. 10 (BusinessDesk) - General Electric has agreed to sell its Australia and New Zealand finance businesses to Sankaty Advisors, an affiliate of Bain Capital, as part of a plan to reduce its financial assets and focus on manufacturing.
The sale of GE Capital's commercial lending and leasing portfolios in Australia and New Zealand includes about US$1.7 billion in 'ending net investment', which is a balance-sheet gauge that excludes non-interest-bearing liabilities and cash, the company said in a statement. The transaction terms weren't disclosed, although the Wall Street Journal reported the deal is valued at about A$1.9 billion including debt, citing people familiar with the situation that it didn't name.
GE has over the past eight months inked agreements to sell four Australia and New Zealand consumer and commercial financing businesses, including the latest deal, for a total of about US$9 billion of ending net investment. The deals are expected to close by the end of the first quarter of 2016, completing the sale of all of GE Capital's businesses in Australia and New Zealand.
The parent company has so far agreed to sell about US$128 billion of GE Capital assets, more than 60 percent of its overall plan, Keith Sherin, GE Capital chair and chief executive, said in the statement.
The latest sale will contribute about US$100 million of capital towards the company's target of US$35 billion of dividends expected to be paid to the parent. GE will retain the financing businesses that relate directly to its industrial businesses, it said.


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New York Magazine’s Grub Street blog reports that Boerum Hill’s beloved Montreal-style smoked-meat sandwich shop, Mile End, is expanding its menu. I ate at Mile End recently, savoring a beef brisket sandwich ($9) and the poutine, a Canadian dish that, at Mile End, features PERFECT French fries covered with cheese curds and mushroom gravy ($8). It’s worth the hype.
Next week, according to Grub Street, owner Noah Bernamoff and his chef Aaron Israel, whose last gig was sous-chef at Torrisi Italian Specialties, will launch a new dinner menu that hopes to breath new life into traditional Jewish dishes. They will keep the current selections in place.