text: SAN FRANCISCO (MarketWatch) -- The dollar extended gains Wednesday, after downbeat U.S. home sales data failed to offset the effects of weak U.K. and eurozone data earlier. An index of sales contracts on previously owned homes, considered a leading indicator of existing home sales, fell 1.0% in March, and was 20.1% below the March 2007 level. But earlier data showed U.K. industrial production fell 0.5% in March compared to February, and euro-area retail sales dropped a worse-than-forecast 0.4% in March compared to February, or down 1.6% year-on-year. The euro was buying $1.5386, down from $1.5400 before the home sales data and $1.5525 in late North American trading Tuesday. The dollar bought 105.30 yen, up from 104.74 yen late Tuesday. The British pound was last at $1.9526, down from $1.9734 Tuesday. The dollar index, which measures the greenback against a basket of six major currencies, was at 73.585, compared with 73.015 late Tuesday.


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BMW Chief of R&D, Klaus Frolich, said last week at at the unveil of the BMW iNEXT, that the company plans more deals with mining companies to secure electric vehicle battery materials. The Munich-based automaker will also continue to form alliances to share the costs of developing autonomous-vehicle systems, in another effort to drive down costs.
“Everybody has an interest or should have an interest” in common autonomous-vehicle standards, Froehlich said at the unveil of the futuristic BMW iNEXT.
Froehlich also said BMW is pursuing a strategy aimed at securing lower-cost batteries than rivals, in part by controlling the supply of raw materials for its battery-making partners.
“We will have agreements with mining companies,” Froehlich said. “We have one agreement. There will be more.” A key issue, he said, is securing cobalt from mines that do not exploit workers or employ children.
BMW has previously disclosed agreements with Chinese battery maker Contemporary Amperex Technology Co Ltd and South Korea’s Samsung Electronics Co Ltd. However, Froehlich said those companies will supply batteries using a proprietary BMW design.
“In electromobility, you have to be a cost leader,” he said. “If you are not a cost leader you will not survive.”

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Shaggy coats, long horns and large fringes are very fashionable in the Australian cattle market at the moment.
Scottish Highland cattle are in such demand that farmers have abandoned waiting lists as prices soar.
South Gippsland breeder Deniz Karaca said demand had increased over the past two years.
Mr. Karaca has been raising uplands for six years and currently owns 50 cattle in his lap.
He said he got a phone call almost every day from someone who wanted to buy.
“We’ve gone from readily available cattle to ranchers who have two- or three-year waiting lists,” he said.
“We got rid of our waiting list and are doing an auction now because we wouldn’t be able to meet demand. Our next sale isn’t until 2023.”
What is the engine price?
The Highland is the world’s oldest breed of cattle, traditionally bred for beef in native Scotland. It even has a royal connection, as it is understood that Queen Elizabeth II only eats Highland beef.
In Australia, the Highlands are considered rare and primarily a shop breed for hobby farmers due to their good looks and low maintenance.
Mr Karaca said interest in cows took off when more people started to leave the city during COVID and relocated to the countryside.
He said people who were not experienced farmers were moving into the country and buying smaller land holdings.
“Not having to rely on income, they go for something that looks attractive in the paddock, and the Highlands look really good,” Mr Karaca said.
“We don’t have accommodation, but we have people coming to the farm all the time to take pictures and hang out with them.”
Not just hobby farmers interested in the breed
With the growing popularity, it is not just tree changers who are taking an interest in Highland cattle, as commercial ranchers are also starting to take notice.
Gisborne vet Glen Hastie has been a Highland breeder for 26 years and has also seen a recent increase in the purchase of embryos.
“We’ve had people wanting up to 40 breeding stock, which can’t be provided right now, so they’re going for embryos,” Dr Hastie said.
“We’ve imported embryos a number of times to expand genetics into Australia, but so far it’s really only been small bits domestically.
“Financially, it’s a very good option. You get the best animals from someone’s lap.
However, Dr Hastie said it was frustrating to be a Highland breeder at the moment because demand was so high.
“I love raising them,” he said.
“But I fear what will happen when people start to despair, what kinds of animals we will see around.”
Breeds go in and out of fashion
Katie Lewis, livestock officer for Corcoran and Parker Wodonga, said Highland cattle used to be a novelty that farmers scooped up cheaply in sales, but in the past 12 months it has become a bidding war on line.
“When people call now about Highlands, the first thing you do is tell them about the price,” Ms Lewis said.
“These aren’t the accessible weaning pairs you used to find in the latest pens at a store sale. That’s how they used to be.
“We opened a Pandora’s box last year. We put them on [online portal] Auctions Plus, and it went ballistic. I have never seen auctions like this before.
“We sold a cow and a calf for $17,100, and a few weeks ago a commercial bull made north of $16,000 as well.”
Ms Lewis said it was not uncommon to see rare breeds go out of style in the market, and that Highland popularity was “a fad”.
“I don’t know how long we’ll see this price bubble, wherever the fad dissipates.
“However, the Highlands are difficult to crossbreed, so I think that’s what makes the prize, it’s their rarity.”
Job , updated
#Shaggy #coat #large #fringe #hit #home #farmers #attractive #Highland #cow #trends #market


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The tests between Binance y Davivienda would be framed in the regulatory sandbox promoted by the Financial Superintendence of Colombia, so that the bank’s customers could in practice buy and sell cryptocurrencies from the exchange.
The international exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. with the largest trading volume how much cryptocurrency has been traded over a set period, such as the past 24 hours. worldwide, Binance, will officially start operations within the framework of the pilot plan for the commercialization of cryptocurrencies in Colombia, together with the bank Davivienda.
Binance will start operations with Davivienda
This was revealed by the director of operations for Binance Maximiliano Hinz, who emphasized that this joint project is part of what was originally agreed upon in the sandbox regulatory led by the Financial Superintendence of Colombia – better known as LaArenera -where several exchanges would work hand in hand with local banks to facilitate operations of buying / selling cryptocurrencies with Colombian pesos.
“After the great challenge of this pilot plan, we are very pleased to start operations as this represents a great opportunity to demonstrate that we are on the right track, following what our CEO Changpeng Zhao said, that we will go for every opportunity we have to obtain licenses around the world”.
In addition to the above, Hinz emphasized that the intention of Binance Once the startup phase is completed, monitoring and feedback will be to bring their services to as many users as possible in the Caribbean country, so they will work on several fronts especially to bring educational content about cryptocurrencies to residents of the nation. The representative of the exchange also highlighted the strategic importance of Colombia in terms of crypto adoption, since in Latin America it is among the countries that capitalize the largest volume of commercial operations with digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies at the regional level.
The alliance between Binance y Davivienda would allow users to deposit and withdraw funds from their bank accounts to trade cryptocurrencies through the exchange. However, it is unknown when these operations will formally begin and if they will be open to the public in a first stage.
About the pilot program
The pilot programme in question is part of the ongoing initiatives under the sandbox regulatory operated by the Financial Superintendence. The proposal formally emerged in September last year, and the agency invited local and international exchanges interested in offering their services in the country to start operating hand in hand with Colombian banks.
Participating companies and banks include the following:
- Banco de Bogota – Bitso
- Banco de Bogota – Buda
- Bancolombia – Gemini
- Coltefinanciera – Obsidiam
- Davivienda – Binance
- Powwi – Binance
- Coink – Banexcoin
- Movii – Panda
- Movii – Bitpoint
Let’s keep in mind that at the end of last year, the US-based international exchange, Gemini, revealed that it would also initiate tests of this type hand in hand with Bancolombia. The news was confirmed at the time by the vice president of the business area for the banking institution , Cristina Arrastía, who indicated that the pilot will last for one year and will be framed in the program that is carried out within the Sandbox regulatory, so that operations will begin as of December 14.
As for the sandbox regulatory, the director of the Financial Superintendence of Colombia Jorge Castaño, indicated that the ongoing pilot program involving cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchanges and local banks will come to an end next March 2022, at which time they will make a decision on the commercialization of digital currencies in the South American country.
However, critics and analysts have pointed out that the pilot program has not advanced at the expected speed, and that there have been many bureaucratic hurdles to ensure due compliance with the respective processes.
- “Pilot program with exchanges in Colombia will culminate in March 2022”, announces Financial Superintendence
- Exchange Gemini and Bancolombia will start pilot program for the purchase – sale of cryptocurrencies in Colombia
- Congressman Mauricio Toro introduces before Congress Bill to regulate exchanges in Colombia
Version by Angel Di Matteo / DiarioBitcoin
Imagen de Unsplash


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UPDATE: As part of its Air Max Day 2019 celebrations, Nike has announced plans for the atmos Air Max2 Light to release globally, with the sneaker set to hit retailers on April 5.
After an official look at the shoe was released last month, atmos‘ upcoming Nike Air Max2 Light collaboration now has a confirmed release date. As originally reported, the patchwork sneaker is set to release just before Air Max Day, hitting the atmos web store on March 23.
To coincide with the Air Max2 Light release, Nike and atmos are also set to deliver a range of co-branded apparel. The collection references the sneaker’s patchwork construction through both T-shirt graphics, and the make-up of accessories including caps and tote bags. The apparel capsule is rounded out with track jackets and pants.
atmos has also teamed up with GUESS for a new joint release.
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. 3/23(SAT)IN STORE NIKE AIR MAX2 LIGHT QS / ATMOS CJ6200-001 ¥20,000+TAX . 【取扱店舗】 atmos 明治通り店 atmos 千葉店 @atmos_nagoya @atmos_sapporo atmos 横浜ジョイナス店 @sportslabby_atmos_shinsaibashi @atmos_hakata @atmos_kyoto_ @atmos_kanazawa @sports_lab_by_atmos_hiroshima @atmos_pink_harajuku . #atmostokyo#atmos#sportslabbyatmos#nike#airmax2light#ナイキ#アトモス


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Chevrolet has big plans for the 2015 SEMA Show in Las Vegas, announcing it will be bringing quite a few concepts for its presence at the event. Those concepts include a family of what Chevrolet has named the “Red Line” concepts. And much like the 2016 Chevrolet Colorado Red Line concept, the 2016 Chevrolet Silverado Red Line […]Read more "2016 Chevrolet Silverado Red Line Concept Is An RS Model By Another Name"
What do you expect to see from the rumored Cadillac ATS V-Sport? Here is what we have predicted… Before we go on, keep in mind that Cadillac has not confirmed nor announced an ATS V-Sport. However, the following findings lend credence to the rumored vehicle: 2016 Cadillac ATS order guide mentions ATS V-Sport ATS V-Sport seen in new Cadillac accessories […]Read more "Here’s What We Expect From The Rumored Cadillac ATS V-Sport"
Buick has announced a new Sport Touring version of the Encore. And more than a trim level or special edition, we’re glad to report that the new model packs a more potent engine. Instead of the 1.4-liter turbo four that produces 138 horsepower and 148 pound-feet of torque in the standard Encore, the new Sport […]Read more "Buick Rolls Out More Potent Encore Sport Touring"
Since announcing the new Chevrolet Colorado in late 2013, there has been absolutely no secret that the 2.8-liter Duramax diesel would wind up under the hood of the midsize pickup truck for the 2016 model year. It has been a long wait for those wanting the oil-burner, but thankfully, the anticipation is nearly at an end. Chevy is finally officially unleashing […]Read more "2016 Chevy Colorado Duramax"
Cadillac’s entire lineup of 2016 models gets a major infotainment upgrade this summer with improvements to CUE and integration with Apple CarPlay and Android Auto. There’s one major exception for now, though. The SRX retains the old system until its all-new generation, called the XT5, debuts early in the 2016 calendar year. “When we transition into all […]Read more "Cadillac XT5 Confirmed for 2016 as Next-Gen SRX"
Earlier this year, Cadillac announced that the 2016 ELR would come with a big price drop and a powertrain that packs 25 percent more power output. That’s a lot more oomph, but it didn’t sound like the Caddy engineers made any major changes to the engine or motors. So, what happened? Let’s refresh our memories with the numeric details. The 2016 car […]Read more "2016 Cadillac ELR Power Output Improved by 25 Percent"
The internets lit up this past weekend when reports started to swirl of a more potent Cadillac ATS-V, rumored to feature LS7 power and a seven-speed manual transmission. Formally dubbed the Cadillac ATS-V+, the iPhone-esque sounding name was to signify the answer to many enthusiasts’ question: why no V8? Countering these rumors is a new report from Motor […]Read more "Cadillac ATS-V+ Is Not In The Pipeline, Says Cadillac"


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Marvel’s Guardians of the Galaxy is an action-adventure game developed by Eidos Montreal and published by Square Enix.
Players play as Peter Quill a.k.a. Star-Lord, but can also issue commands to other Guardians during combat and gameplay.
The developers of Marvel's Guardians of the Galaxy believe that since they're making a single player-only game, they can focus fully on building a compelling narrative.
"The more time you give the game, the more it's going to give back - it's that kind of a game," says senior gameplay director Patrick Fortier.
According to the LinkedIn profile of a former Eidos Montreal developer, the upcoming single player-only title was once meant to have an online component as well.
Motivate (or calm) your AI teammates with a speech based on an in-game song to receive power-ups, full health and other benefits.


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Microsoft seems to be creating a video game similar to Horizon Zero Dawn. A job posting unearthed from LinkedIn indicates that this is likely a possibility. The date of the original posting was two months ago. So, whatever is being done by those accepted for the job must have been already well on its way.
This Is The Premise For The Rumors
The conjecture that Microsoft is working on a game similar to Horizon Zero Dawn is due to the fact that this game is well-received by PlayStation 4 owners. However, since HZD is exclusively a Sony title, Xbox One and PC owners were left out and were never able to enjoy it. Ergo, Microsoft is creating a similar video game to satisfy the cries of its loyal supporters.
Microsoft even claimed that it will have a big announcement at E3 2017. Its supporters were expecting an announcement about a game similar to Horizon Zero Dawn. But an announcement for an AAA title never happened.
This Job Posting Might Have Sparked The Rumors
The particular LinkedIn job posting requested qualified game developers to apply for the position of Lead Environment Artist. This sparked the rumors that Microsoft actually wants to develop a game similar to Horizon Zero Dawn. For the uninitiated, developing a new game similar to an already existing video game is not necessarily a wrong practice in the gaming industry.
Sony Did The Same Thing Before
There is a report indicating that Sony did this exact thing before. In the early 2000s, it launched KillZone. This video game was supposed to be Sony's answer to Halo which is a video game developed by Bungie. KZ was developed by the same studio that created Horizon Zero Dawn.
Keen observers in the gaming industry believe that the job listing was posted by a G3D recruiter. The requirements indicate it as such since he is inviting game developers for clients like Sony and Activision. In addition, there are rumors that Sony has already signed deals for projects to be completed in two to three years. Microsoft's video game similar to Horizon Zero Dawn could be one of these projects.


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To commemorate the 2024 Chinese New Year, Maison Valentino has produced a documentary series titled “Valentino: The Beginning of Red.” This series explores the cultural significance of the color red in China, visiting three cities to delve into their unique traditions and stories.
The choice of red for the Chinese New Year aligns well with Valentino’s brand identity, although pink has recently gained prominence as the house color. The documentaries spotlight cultural treasures like the Xiling seal red ink pad from Hangzhou, the Hong Tuan red sticky rice cake from Quanzhou, and the Xianju Boneless Paper Lanterns from Taizhou, showcasing their historical and symbolic importance.
Valentino’s focus on Chinese culture underscores the immense value of the Chinese market and its consumers to the luxury industry. This sentiment is echoed by Tod’s, which has launched a new campaign featuring Chinese actor and singer Xiao Zhan as the face of its SS24 season. The campaign showcases him effortlessly sporting Tod’s iconic products, adding a modern touch to classic Italian pieces.
The trend of European luxury brands collaborating with Chinese celebrities reflects their recognition of these individuals’ significance in local markets and their growing global influence.


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Just about everywhere you click currently, it feels like somebody on the web is referring to cannabidiol—also called CBD, a compound ingredient based on the cannabis vegetation. Online retailers marketplace the remove (also called hemp essential oil) like a remedy for a number of problems, famous people recommend its recovery abilities, and also the substance is appearing in natural supplements and sweetness products, also. There is also a new FDA-accepted medicine produced by CBD. Though cannabis may be used to make marijuana, CBD itself is non-psychoactive—meaning it doesn’t get you substantial the way smoking cigarettes or ingesting cannabis-related merchandise that contain THC (the plant’s psychoactive substance) can. Still, there’s a lot medical professionals don’t know about CBD and its outcomes on your body, as well as a whole lot customers should recognize before attempting it. To get a greater concept, Well being considered the newest technology and went among the most common CBD-related health claims by industry experts inside the discipline. Here’s what scientists take into account the way these items are marketed, and what possible users ought to take into account.
To give up smoking
There’s been some buzz about CBD gas being important to men and women trying to cease cigs, and another small, simple-term review released in 2013 from the diary Addicting Behaviors works with this concept. A small grouping of 24 smokers obtained inhalers with either CBD or perhaps a placebo product and were motivated to use those inhalers to get a full week every time they felt the urge to smoke cigarettes. People that have the placebo inhaler did not lessen their smoke usage at all in that few days, but those that have the CBD inhaler lowered theirs by about 40Percent. The results “suggest CBD as a probable cure for pure nicotine dependence,” the study authors wrote—but additionally they confess their results are preliminary. Ryan Vandrey, PhD, a cannabis specialist and associate professor of psychiatry at Johns Hopkins School (who was not involved in the 2013 examine), confirms that bigger, lengthier-phrase research are needed to determine if CBD might be helpful for smokers looking to quit smoking.
For pain alleviation
Daniel Clauw, MD, professor of anesthesiology in the School of Michigan, thinks that CBD could possibly have genuine advantages for anyone coping with constant pain. He cites a recent scientific demo from pharmaceutic firm (that Doctor. Clauw has consulted) that found that a CBD-produced topical cream medication supplied pain relief to individuals experiencing leg osteoarthritis. Zynerba is no longer seeking a variation of the medicine for osteoarthritis, states Doctor. Clauw, and then there are now no standard ideas for what amount or formulation of CBD (in both oral or topical ointment type) might work most effectively for pain alleviation. But he does want pain people to know that CBD products could be worth a try—and https://forum.instaforex.com/index.php?s=bfbb700f01ecf216a07e6d4a8c651a33& that they may supply relief, even without the great that products with THC generate. “I don’t feel we certainly have that numerous excellent medications for soreness, and that we recognize that CBD has fewer negative effects than opioids or perhaps nonsteroidal anti-inflamed prescription drugs, which can lead to blood loss and cardiac issues,” he says. “If I have got an elderly individual with joint disease and a small amount of CBD will make their knees feel better, I’d prefer they take that than some other medicines.”
In skincare goods
CBD appears to have anti-inflammatory attributes, says Dr. Clauw, which is one cause the sweetness business has championed it as a a brand new anti-growing older ingredient in several skincare items and health spa treatment options. Francesca Fusco, MD, a dermatologist located in New York, fairly recently told Well being that CBD essential oil is really a wealthy source of fatty acids as well as other epidermis-healthful nutrients, and that it may boost hydration and reduce humidity damage. A number of reports have also advised that CBD oil may hinder the increase of acne breakouts, even though this theory only has been tested in lab mobile cultures—not in genuine human beings.
Being a solution for autism
Moms and dads of autistic kids may turn to CBD being a prospective treatment method, however they should know that analysis in this area is very just commencing, affirms Vandrey. CBD can connect with the body’s endocannabinoid system, a network within the head that generally seems to be involved in societal actions, circadian rhythm, and prize processing—all of that may be atypical in people who have autism. For this reason, scientists are pumped up about a study that’s currently underway on the University or college of California San Diego, Ca about CBD’s prospective as being an autism treatment method. But besides the fact that no man trials have already been carried out on CBD for autism, there’s one more reason for prospective individuals (and mother and father) to weigh up their possibilities carefully. The industry remains unregulated—meaning that, in several says, there are no laws or examinations to ensure a product’s ingredients match what’s listed on the brand. Study executed by Vandrey and his peers has even proven that some CBD merchandise include significant degrees of THC—which could easily get a kid great and cause other annoying negative effects. This is definitely an location that is out there within a grey section of legality,” Vandrey affirms. “And for that reason, anyone thinking of employing cannabidiol, associated with a sort, should carry on with caution.


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WASHINGTON — Federal authorities in the U.S. said Monday they partnered with European counterparts for the first time to take down 132 counterfeit Web sites that were illegally selling thousands of fake products, including apparel, jewelry and other luxury goods.
Dubbed “Project Cyber Monday 3” in the U.S. and “Project Transatlantic” in Europe, the effort led to the seizure of 101 domain names in the U.S. and 31 in Europe, according to John Morton, director of U.S. Immigration & Customs Enforcement.
Morton said the Web sites sold products from 41 trademark holders, including such fashion and luxury brands as Nike, Reebok, Tommy Hilfiger, Louis Vuitton, Gucci, Salvatore Ferragamo, Dolce & Gabbana, Prada, Chanel, Burberry, Hermès, Dior, Miu Miu, Chloé, Tod’s, Fendi, Yves Saint Laurent, Cartier, Christian Louboutin and Lacoste.
“The purpose of our efforts is to confront consumer fraud online,” Morton said on a conference call with reporters. “Organized criminals are using the Internet and the holiday shopping season to defraud consumers on a grand scale.”
Morton noted it was the third time U.S. officials have gone after online counterfeiters on Cyber Monday.
“Recognizing that Cyber Monday is the busiest day for online purchases in the U.S., we conducted specific operations around this day to bring more awareness to the public about the potential dangers of shopping online,” he said. “With an increase in online shopping comes an increase in online predators; online organized criminals are looking to take advantage of unsuspecting consumers to make a quick buck.”
Officials also identified $175,000 in proceeds from PayPal accounts utilized by the counterfeit operators and which are being targeted for seizure by U.S. officials.
Tod Cohen, vice president and deputy general counsel of government relations for eBay Inc., said the online auction company worked with U.S. officials to take the infringing sites down.
“PayPal and eBay Inc. pride ourselves in going above and beyond in the fight against the illegal online trafficking of counterfeit goods by partnering with law enforcement and rights owners globally, and we hope that this is fair warning to criminals that the Internet is not a safe place to try and sell fake goods,” Cohen said.
Morton said U.S. authorities went a step further this year in their crackdown on online counterfeiting and reached across the Atlantic to work with European authorities.
“We are organizing transnational law enforcement to defeat transnational criminal organizations,” he said. “In short, a united front against a common foe.”
ICE’s Homeland Security Investigations-led National Intellectual Property Rights Coordination Center spearheaded a coordinated effort with Europol and law enforcement agencies from Belgium, Denmark, France, Romania and the U.K.
“The Belgian federal police obtained warrants to seize 12 .eu names and one .be domain name, and the City of London police redirected the names of another 18 counterfeit Web sites,” Morton said. “Domain names such as hermesborse.eu and nikeavalon.eu were selling everything from counterfeit Hermès purses to Christian Louboutin shoes and various Nike apparel, all of it fake and all of it substandard quality.”
The operation was part of a larger initiative in the U.S. known as “Operation in Our Sites” that was launched in June 2010. The seizures of the 101 domain names in the U.S. brings the total to 1,630 since the operation began.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty


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LAOAG CITY – Prices of poultry in Ilocos Norte are expected to go up due to the high demand as consumers opt for poultry products over more expensive pork products.
Provincial veterinarian Loida Valenzuela said Wednesday the "supply of chicken and egg has been reduced as the majority of contract growers could hardly supply the high demand."
Some poultry raisers said they have reduced their load due to high cost of feeds, fuel, and other logistics.
Latest market monitors showed that the prevailing price of chicken in the province stood at PHP220 a kilo.
This is PHP30 higher than the PHP190 per kilo price that prevailed last week.
According to Valenzuela, the avian flu or the so-called Highly Pathogenic Avian Influenza also has an impact on the overall poultry supply.
Nonetheless, the Ilocos Norte government is currently distributing chicks and feeds for backyard raisers to cope with the demand. (PNA)


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I’ve had a thought for a while about the relationship between economic slowdowns as well as recessions and the increases in Federal Minimum Wage. I’ve never read an article on them, but it seems to me that there must be a relationship. I’ve done a little bit of research and, while, of course, one can not show a conclusive relationship, nevertheless, the findings are interesting. Continue reading
With everyone concerned about a recession (which we are not in), some in Washington have started talking about what the government should do to help strength the economy. Brian M. Riedl wrote a great article in today’s Washington Times entitled Tax cuts vs. tax rebates.
“With slower economic growth raising fears of a recession, Washington is abuzz with talk of economic stimulus plans.
President Bush may offer a stimulus package; congressional leaders are discussing a proposal centered on tax rebates. Tax rebates don’t stimulate the economy. Cutting tax rates does.
To explain, let’s take a step back. By definition, an economy grows when it produces more goods and services than it did the year before. In 2007, Americans produced $13 trillion worth of goods and services, up 3 percent over 2006.”


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- In the year since Facebook CEO Mark Zuckerberg's testimony on Capitol Hill, the company has evolved its message and approach to privacy.
- Facebook has been more forthcoming with regulators, users and advertisers overall, though it has largely done so on its own terms.
- The company has seen revenue and user numbers continue to grow despite the scandals of the past year.
One year ago, Facebook CEO Mark Zuckerberg told Capitol Hill lawmakers grilling him over the company's personal data fumbles that he believed regulation was "inevitable."
"I think the real question, as the internet becomes more important in people's lives, is what is the right regulation, not whether there should be or not," Zuckerberg said at the time.
A year later, Zuckerberg has laid out his own answer to that question before lawmakers could beat him to the punch. On March 30, he published a call for governments to regulate the internet in ways that will limit harmful content, protect privacy, maintain the integrity of elections and ensure data portability.
Facebook's evolving response to regulators, lawmakers, users and advertisers in the year since Zuckerberg's two-day testimony on Capitol Hill underscores the crisis of trust executives have tried to navigate while maintaining control of the business. The New York Times characterized Facebook's initial approach to the onslaught of PR faux pas as "Delay, Deny and Deflect." Now, Facebook seems to favor getting out in front of news reports of data breaches or regulatory proposals to set the narrative boundaries itself.
By and large, while potentially hefty fines loom from the Federal Trade Commission and from regulators abroad, Facebook has proven it's still able to keep users and advertisers on its platforms, if not win back their trust entirely. Over the past 12 months, Facebook's stock has rallied about 11% as investors have gained back confidence on the heels of the company's strong Q4 2018 earnings report in January. In 2019 alone, the stock has risen about 33%.
The earnings report showed that users and advertisers alike stuck with the platform despite privacy doubts. In its final quarter of 2018, Facebook met analysts' expectations for daily and monthly active users, which measured 1.52 billion and 2.32 billion, respectively. Its average revenue per user came in at $7.37 for the quarter, beating analyst estimates of $7.11, as forecast by FactSet.
Facebook did not respond to a request for comment on this article.
Here are some of the ways Facebook's messaging to various stakeholders have changed over the past year:
When it comes to the people who could most directly force Facebook to change its business model — regulators and lawmakers — Facebook has shifted from a dismissive to proactive response.
Zuckerberg's direct call for regulation is just the most straightforward example of this strategy to date. Previously, Facebook had taken steps to display that it could regulate itself without lawmakers needing to step in. The company established election "war rooms" to combat misinformation around various international elections, hired legions of content moderators, built a new tool that helps disclose where political ads on the site come from and said it would establish an independent content oversight board empowered to overturn the company's decision on whether posts remain on its platform. Now, Zuckerberg has asked regulators to intervene after all, albeit under a framework he has laid out himself.
Facebook's more forthcoming approach to regulation mirrors the way it has changed its communication about misinformation and privacy breaches. Zuckerberg once dismissed the idea that misinformation on Facebook could have influenced the U.S. presidential election in 2016 as a "pretty crazy idea." He later apologized for the comment and has since acknowledged his site's role in spreading harmful messages and launched targeted projects to limit the spread of misinformation on around international elections.
Still, some lawmakers say Facebook should be even more transparent. Officials from the U.K., Canada and several other countries signed a letter in November saying they were "disappointed" Zuckerberg declined their invitation to discuss fake news and data privacy. Facebook instead sent another official to attend the hearing that month with representatives from nine countries.
While U.S. regulators have been slow to act, the story has been different abroad. For example, the U.K. this week revealed a proposal to hold Facebook legally responsible for harmful content on its site. And Australia passed a law last week that could put social media executives in jail for hosting videos of violent content in the wake of the New Zealand mosque massacres last month.
Since its inception, Facebook has appealed to users by promising to bring the world closer. But that promise seemed to fall flat after disinformation spread by foreign actors on the platform deliberately drove a wedge between Facebook users during the run-up to the 2016 presidential election.
Facebook faced harsh backlash from users who threatened to leave the service as the hashtag #deletefacebook trended on other social media sites. Based on Facebook's user growth at the end of 2018, many of those threats seem to have been empty, but it's notable that user growth did stall in the U.S. and Canada in the fourth quarter.
Following the news that political research firm Cambridge Analytica allegedly gained access to personal data of millions of Facebook users without their consent, Zuckerberg was apologetic in a post on his Facebook page.
"We have a responsibility to protect your data, and if we can't then we don't deserve to serve you," he wrote.
But in a December post on his Facebook page, Zuckerberg pushed some of the blame onto "shady apps that abused people's data," following the release of internal emails about the company's decision to change its developer platform several years ago.
In 2019, it's become clear that Facebook is focused less on defending its current business model and more on building a new one. While Facebook previously embraced a more open approach to sharing information across an entire network on its News Feed, the company has recently begun shifting toward more private and ephemeral communication.
Facebook began laying the groundwork for this shift with Instagram's introduction of its "Stories" feature, originally popularized by Snapchat. The feature lets users post photos and videos that can disappear from a user's profile after a set amount of time. On Facebook's third quarter 2018 earnings call, Zuckerberg told analysts he understood the changing tide in user sentiment around sharing.
"People want to share in ways that don't stick around permanently, and I want to make sure that we fully embrace this," Zuckerberg said.
Zuckerberg solidified Facebook's pivot to privacy in a 3,000-word note in March outlining his vision for the future of the internet.
"I believe the future of communication will increasingly shift to private, encrypted services where people can be confident what they say to each other stays secure and their messages and content won't stick around forever," Zuckerberg wrote. "This is the future I hope we will help bring about."
The message provided a window into what Zuckerberg sees as Facebook's path forward. The company had already confirmed in January its plans to integrate the messaging systems across three of its services: Messenger, Instagram and WhatsApp.
That's perhaps because Facebook's appeal to advertisers is much simpler than that to users or regulators. As long as it remains one of the best places on the internet to target audiences, advertisers say they will keep coming back. A recent Piper Jaffray survey of teens found that 70% of Gen Z respondents, born between 1997 and 2012, preferred engaging with brands on Instagram over other social media channels.
As Facebook has announced its plans to focus more efforts on private, encrypted and ephemeral sharing, the company has promised both advertisers and investors it would come up with new ways to monetize these products.
On the company's Q3 2018 earnings call, Chief Operating Officer Sheryl Sandberg admitted that ad products for Stories are less robust than its legacy products but said the company would work with advertisers to figure out the best ways to create ads for the feature. She also said Facebook is figuring out how to help brands reach users through its messaging platforms through paid messages.
Despite a year of scandals, data exposures and negative press, Facebook's business has remained healthy. Both Zuckerberg and Sandberg have kept their jobs, even though there was plenty of speculation that one of them would have to take the fall for failing to prevent the company's failures. (Still, a slew of other executives have left over the past 12 months, including the two Instagram founders and Facebook's Chief Product Officer Chris Cox.)
A year after Zuckerberg appeared before Congress, Facebook has developed an immunity to doing business in a highly scrutinized environment.


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Motorola Droid RAZR HD and Maxx HD owners will get the wondrous snap and fluidity of Android 4.1 Jelly Bean as soon as next week, Verizon announced on Friday. The update will roll out in phases, the carrier said, so customers will only need to hang on for just a little while longer.
All the big updates are included, as expected: Google Now, along with the various performance upgrades. Additionally, Verizon took the opportunity to say that the new OS will give owners improved voice and data connectivity, better native calendar settings and updated Verizon bloatware.
These are two of the biggest Motorola handset available this holiday season, but not all of the company’s handsets are getting Android 4.1, unfortunately. For those being left behind, Motorola is attempting to make amends by offering $100 back on select Motorola handsets, including: Atrix 4G, Electrify and Photon 4G, among others.


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Registrations are now open for the 14th annual Young Gun of Wine (YGOW), designed to celebrate and showcase both young wine labels and winemakers on the rise.
Open to those making all forms of wine, from the experimental to the traditional, whether under their own label or employed by a wine company, head of the YGOW tasting panel, Nick Stock, is calling for a diversity of participants: “The rising tide of interest, capability, ambition and quality in Australia’s emerging winemaking circles is what we are looking to bring together. It’s a gathering of many tribes. It forms and galvanises friendships and ideas. It’s empowering as much as it is a very good time.”
We want to see faces we’ve seen before, too.
YGOW is as much about creating a movement around wine, as it is about singling out individual producers. We've been hellbent on building exciting culture around wine for 14 years now, and to do that, we need winemakers to get involved.
As Damon Koerner echoes: “For me, the greatest beneﬁt of participating in YGOW has been the people I have met and friends I have made. The events bring together the best emerging winemakers and young labels from all over the country. The more we interact and talk about what we are doing, the better we will all get, which will only improve the status of the Australian wine industry, and beneﬁt all of us in the long run.”
It’s an opportunity for winemakers to get out of their regions and promote to consumers and trade (in each city there’s both a public event and a trade event on oﬀer for winemakers), as well as develop relationships with fellow winemakers from around Australia.
If the trophies are your thing, then we say, “You need to be in it to win it!” The 2019 YGOW entered four times before walking away with a trophy. There are ﬁve winemaker trophies up for grabs: the BEST NEW ACT, PEOPLE’S CHOICE, WINEMAKER’S CHOICE, YOUNG GUN OF WINE and the First Drop DANGER ZONE (which goes to the most adventurous wine).
Damon will join the YGOW tasting panel in 2020. He knows what you’re going through.
Early bird registrations for the 2020 YGOW are now open, with ﬁrst choice of event options, until August 16.
For more details, please see: younggunofwine.com/registrations
Get amongst it here: trybooking.com/BDRVM


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Caribbean Business| October 19, 2021
Foundation for Puerto Rico (FPR) announced the launch of [re] ACTIVA, a new mentoring and training program aimed at small businesses whose operations have been affected by the COVID-19 pandemic.
A Wells Fargo Open Business Fund grant of $254,487 financed the program of FPR, the only nonprofit organization in Puerto Rico to receive the funds.
“[Re] ACTIVA seeks to promote the economic recovery of small businesses affected by COVID-19, providing small business owners with technical assistance on topics such as access to capital, finance, marketing, business planning, and electronic commerce, among others. With expert-led technical training and additional recovery resources, FPR aims to help these businesses stay open, retain employees, and optimize their operations and offerings,” said Anneliz Oliver, Economic Development Programs Manager at FPR.
Through the program, participating businesses will receive technical assistance for business preparation, recovery, adaptation, and growth, through training on skills and activities in high demand, including digital presence and e-commerce, which aim to help small businesses adapt their operational models to present and future challenges.
“There has been a constant demand for education on digital presence and e-commerce among the small businesses and communities that we currently support. Investing in these capabilities will help companies diversify and innovate in a global market that requires it to remain competitive and grow, particularly in the post-pandemic world,” said Alma Frontera, Vice President of Operations and Programs at FPR.
All small businesses interested in being part of this free technical training program must fill out an application by accessing www.foundationpr.org/es/reactiva, before Friday, November 26, 2021.


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LONDON — David Beckham’s businesses pushed through the pandemic in 2020, generating profit, and rich dividends, despite revenue declines in a challenging environment.
According to the latest filings on Companies House, the official register of U.K. businesses, revenues at Beckham’s main company, David Beckham Ventures Ltd., dipped 10 percent to 11.4 million pounds compared with the previous year.
More from WWD
Although revenue was down, profits rose 18 percent to 10.6 million pounds, bolstered by 6.2 million pounds in investment income from a share of profits in Seven Global LLP.
Seven Global is Beckham’s global brand management business, of which he took full ownership in July 2021.
During the year to Dec. 31, 2020, Beckham also signed new multimillion-pound sponsorship deals with companies including the video game company Electronic Arts; the Italian comic book and trading cards company Panini, and the fitness firm F45. They joined an existing portfolio that includes Haig Club whiskey, Adidas and Tudor watches.
Revenue at Seven Global, which oversees Beckham’s deals with Coty and Safilo eyewear, was $23.2 million in 2020, broadly flat compared with the prior year.
Despite the flat revenue, profit doubled to $18.1 million due to lower administration expenses, the company said.
There has been much change at brand Beckham since 2020, however.
Seven Global had previously been a joint venture between David Beckham Ventures Ltd., and Global Brands Group. Last year GBG, which was ultimately owned by China’s struggling Shandong Ruyi, wound down its operations.
In connection with the new partnership, Beckham also became a shareholder in ABG, which has a growing entertainment roster that includes brands such as Muhammad Ali, Shaquille O’Neal and Sports Illustrated. ABG also took control of Reebok earlier this year.
The Seven Global JV with GBG previously oversaw the men’s contemporary clothing brand Kent & Curwen. Designed by Daniel Kearns and fronted by Beckham, the brand used to show during London Men’s Fashion Week. Today it operates mainly in China and Beckham no longer has any connection to the brand.
In addition to David Beckham Ventures Ltd. and Seven Global, the former England football captain has another company on the books, Beckham Brand Holdings Ltd. That is the holding company that owns businesses belonging to David and his wife Victoria Beckham.
The holding saw its profit more than double to 11.6 million pounds, despite a revenue decline at Victoria Beckham’s fashion business in fiscal 2020.
The uptick in overall profit meant that shareholders David and Victoria Beckham took home a total dividend of 8.1 million pounds.
As reported in May, the couple was ranked at 65 on The Giving List, which was compiled by The Sunday Times of London as part of the newspaper’s annual Rich List. The Beckhams made a 1 million pound donation to Ukraine following Russian President Vladimir Putin’s invasion of the country earlier this year.
The Beckhams’ wealth was estimated at 425 million pounds by The Sunday Times. They did not make it into the top 250 ranking on the Sunday Times list, although their wealth exceeds that of fellow celebrities including Elton John, Sting, Mick Jagger, all of whose fortunes are less than 400 million pounds.


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BMW’s DCT is an excellent transmission and is now without doubt the fastest production transmission offered by BMW, but enthusiasts who appreciate rowing their own gears still get a warm fuzzy feeling when seeing a manual transmission in a new BMW model, even if it’s already been confirmed and has been seen previously — such as the 6 speed shifter seen in this F10 M5.
There are just a few US spec F10 M5s roaming the US being driven by BMW employees or on loan as press cars. One of these was just spotted (thanks Justin) in Newport Beach in Los Angeles.
The U.S. order bank for the 2013 M5 will open this week and full option pricing and order guides will also be made available. The 6 … CONTINUED
A Frozen Silver (BMW Individual Color) F10 M5 is on display at the 2012 NYIAS, from where BMW has announced the US pricing for the 2013 M5 sedan – starting at $90,695 (destination and handling included).
The preliminary options/standard equipment information for the U.S. 2013 M5 has also been posted yesterday (info here).
The 2013 M5 will begin production in July and begin deliveries in September. Order guides will be available in two weeks and ordering begins on April 23. European delivery is available on dates beginning September 1st.
Frozen silver is among the range of BMW Individual exterior colors recommended for the 2012 M5, including:
Brilliant White Metallic
Frozen Gray Metallic
Frozen Silver Metallic
Now that the US F10 M5 pricing has been announced, see what the standard options and optional equipment are like. Here is the preliminary information. Ordering for the M5 for the US market starts April 23. Ordering guides will be available in under 2 weeks.
As seen here, the first batch of 2012 BMW M5 models for the North American market (Canada) have completed production and are now loaded on carriers to begin their journey to owners in Canada!
Canada gets the F10 M5 before the US, with limited allocations of 2012 model year M5s available. The full Canadian 2012 M5 price list (full list) was released recently, with the starting base price set at $101,500 CAD.
The US will not receive the 2012 model year M5 and production of the 2013 M5 for the US market will begin in July (for September delivery. US F10 M5 pricing, ordering, and brochures will be released in 2 weeks – concurrently with the 2012 NY International Autoshow. European Delivery for the M5 is expected to … CONTINUED
We announced last week that the 2012 M5 would start at just $101,500 for Canada, lower than the outgoing E60 M5. The full Canadian 2012 BMW M5 price list guide is now available and posted. Check it out inside.
The Canadian price for the 2012 BMW M5 is in, starting at $101,500. Impressively, this costs less than the outgoing E60 M5 by several thousand!
Full pricing information inside and below:
Base $101,500 + only available package option
Executive Package $9,500
- Soft Close Doors
- Electric Rear Sunshade
- Ventilated Seats
- Active Seats
- BMW Individual reading lights
- M Multifunction Seats
- High Beam Assistant
- Lane Departure Warning
- Active Blind Spot Dection
- Surround View
- Head Up Display
- Sirius Satelite Radio
- Smart Phone Integration
- BMW Apps
Full Merino Leather – $4,500
Extnded Leather – $3,000
BMW Indvidual Paint Colours – $3,000
Rear Entertainment System – $3,000


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Vietnam’s coffee industry is working to increase the value of its raw coffee exports as it seeks to boost the country’s revenue from coffee.
Currently, Vietnam generates more than 1.84 million tonnes of coffee from a total 710,000 hectares of coffee cultivation area. In 2022, Vietnam exported 1.78 million tonnes of coffee worth over US$4.06 billion. Unfortunately, raw coffee accounted for the majority of the export.
A program on coffee recultivation in the Central Highlands during the 2014 – 2020 period has proven effective as hundreds of thousands of hectares of coffee has been regrown to boost both productivity and quality and subsequently farmers’ income.
Aside from new more effective cultivation, there is a growing investment in intensive processing, market expansion and brand protection to increase the value of Vietnamese coffee.
The coffee sector is also striving to apply international standards and align its national standards accordingly.
Meanwhile, both foreign businesses and domestic firms like Vinacafe, An Thai, G7, and Vinh Hiep have also equipped themselves with modern processing technology to produce high-quality products serving domestic consumption and exports.
Vietnam Coffee – Cocoa Association (VICOFA) highlighted that Vietnam is a leading supplier of raw coffee and has exported the commodity to more than 80 countries and territories. Its biggest markets include Germany, Italy, the US, Belgium, Spain, Japan, the Philippines, Russia, China and the UK.
There is still much room for export growth in terms of value. To boost the ‘added-value’, it is also important to take advantage of the free trade agreements with importing countries, step up the advertising of high-quality Vietnamese coffee brand, and organize more trade promotion programs, while providing businesses with further market insights, the Association advised.
In a related development, a separate report highlighted that Vietnam’s production of robusta coffee is expected to shrink in 2023 as farmers focused more on growing durians and other fruits which generate them higher income.


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2009 comebacks: The glass baby bottle
The change has been a few years in the making. In 2007, a group called Environment California released a report, "Toxic Baby Bottles," that got worldwide media attention. Suddenly, companies making glass baby bottles were seeing a run on their product. Why? The report detailed concerns that a chemical used in making plastic baby bottles leached a toxic chemical, Bisphenal A, that could impact the health of babies exposed to it during critical developmental stages.
Bisphenol A, or BPA, is a man-made chemical used in polycarbonate plastic, the material used to make most baby bottles and other shatter-proof plastic food containers. Although the Food and Drug Administration says current uses with food are safe, numerous health organizations, including the Centers for Disease Control and Prevention, says animal testing has shown that BPA has hormone-like effects on the reproductive system that could lead to prostate and breast issues later in life. The CDC says more study is needed to see if BPA is actually harming people.
Parents aren't taking any chances. As a subgroup, new parents take great pains to make sure their babies are kept out of harm's way. That includes plugging up every electrical outlet and installing safety latches on drawers and cabinets. News that baby bottles could be harmful sent them en mass toward the companies that make and market old fashioned glass bottles. Indeed, soon after the report came out, companies that make glass bottles reported a run on their product, and for a while, they were as hard to find as a Wii before Christmas.
That's changed, and manufacturers have adopted to the new demand. All the major baby-product makers have them, and offer new parents an array of choices, including glass bottles with soft plastic coverings to help keep them from breaking (a concern, since babies of a certain age love nothing more than flinging their bottles out of cribs and strollers, for you to retrieve a dozen times a day.) Here's a good list of some of the offerings that are out there.
Now, it's true that parenting dogma changes with the wind. Every generation is told of a different set of dangers. Nobody had heard of BPA when my daughter was a baby, back in 1997, and so far, she's fine. When I was a baby in the '60s, there were no such things as car seats, and I was laid to sleep on my stomach (now considered a no-no due to SIDS). Plus, my mom didn't bother with nursing, and bottle-fed me formula instead, as was the norm at the time. Although she did feed me with glass bottles. So maybe that's what I can attribute my longevity to after all.


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Switzerland has a reputation for strong security thanks to their banking industry. It is known worldwide as a safe and reliable place in the finance industry, making it one of the global banking leaders.
Although, the country recently faced international pressure and has had to agree to automatically exchange banking account details with other countries within the next two years. Nevertheless, Switzerland’s reputation for security is still heads and tails above many other countries.
With this reputation, Switzerland is now becoming an appealing place for many to store their digital data. After the government snooping revealed by whistle-blower Edward Snowden, Switzerland are capitalising on their reputation in hopes to draw data businesses to operate in their country.
Franz Grueter, the managing director of Green.ch, a leading data storage firm, said, “Data storage is the new Eldorado for Switzerland. It’s a real boom.”
“Clients need confidence, discretion, reliability and stability. These have been the country’s hallmarks forever,” he continued.
More than one billion francs (around US$1.1 billion) have been invested in the country’s data centres over the past five years. Now with 61 data centres, Switzerland is the fifth largest data hub in Europe. Considering the size of the country, that’s an impressive feast.
For Switzerland, personal data is defined as a precious good. They operate a restrictive law which means that data can’t be handed to governments or authorities without a judge’s request.
Some of the Swiss data vaults can be found in huge underground bunkers. One company which uses these is Deltalis, a firm which claims it offers the most secure data centre. The centre is located in a Cold War era army barracks, secured behind four-tonne steel doors that can even withstand nuclear attacks. Biometric scanners and an armed guard are also in place – its exact GPS location is even a secret. Now that’s security.
One company who moved is Multiven, an IT services company that relocated from Silicon Valley to Zurich in 2009. The firm anticipated the future of the digital landscape and moved early in order to lay their ground work. For them, they see a future where individuals, businesses and organisations worldwide will be storing their digital assets (from trade secrets to intellectual property) in Switzerland.
Another such company is ProtonMail, a web-based mail service that uses encryption to secure the data of more than 300000 users. The company’s chief, Andy Yen, commented that America and the UK’s recent suggestions to ban encryption would never happen in Switzerland; to them, the culture of respecting privacy is fundamental.
Of course, complete protection is never ensured in the modern electronic world that is constantly changing. Jean-Henry Morin, a professor of information systems at Geneva University, pointed to the recent cyber-attack on Sony as a highlight that full-proof protection isn’t possible.
Data security is a very serious topic and it’s one that is likely to becoming increasingly prominent as time passes and more users worldwide get connected. Data is the lifeblood of personal and business life and it needs to be treated as securely as any other personal belonging.
Switzerland's Reputation for Security Makes it Great for Storage
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Google was dethroned as the world’s most popular website in 2021. The tech giant was pushed into second place as TikTok took the No. 1 spot as the most popular website in 2021, according to cybersecurity company Cloudflare.
Is chia seed water a magic weight loss potion? According to proponents of the latest viral TikTok health trend, drinking the superseed steeped in H2O may be the key to prevent overeating and ultimately helping with weight loss. TikTok user @happyandhealthyolivia shared the health hack as part of her popular series “TikTok Health Trends That Actually Work.”


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Companies whose survival depends on their ability to convince people to buy their cereal and soft drinks, computers, cars and beer are losing touch with their markets, according to a study by the advertising firm N W Ayer Inc. The genius of American marketing, both emulated and criticized worldwide, has always been not merely to make Brand X, but to persuade buyers that they can`t live without Brand X.
Brands are the lifeblood of marketing corporations.
But many of those corporations have let the value of their brands diminish and lost customers in the process because they don`t understand how the world-and the customer-is changing. Ayer came to those conclusions after a five-year analysis of consumer and marketing trends.
''The key is understanding the customer,'' said Ayer Chairman and Chief Executive Jerry Siano, in releasing the study last week. Companies have to understand ''what makes them develop or lose a relationship with a product,'' he added. Often, it`s emotional rather than rational.
At a time when companies are striving for cost-saving and marketing simplicity, customers are becoming increasingly complex and fragmented, said Fred Posner, Ayer`s director of research and marketing.
Unless companies ''redefine branding,'' Posner added, their products will become increasingly commodity-like and irrelevant to consumers who will only be lured with costly promotional gimmicks. And it`s in the companies` best interests to accomplish this redefinition, Posner noted, because ''loyal brand buying is the most efficient marketing tool.''
By ''redefine branding,'' Posner means that companies have to turn their brand-name products, whether clothing, airlines or food, into a comfortable and reliable ''friend, like a good piece of cake,'' something people will view as an ''oasis of clarity'' in a chaotic and stressful world.
The companies that thrive in the `90s will be those whose brands connect with people, Posner said.
Aging Baby Boomers, a plum market, are having midlife crises, he said. They may face loss of jobs or opportunities at work, agonizing decisions about caring for elderly parents and the financial and emotional stresses of raising and educating children.
''They need an oasis, a friend,'' Posner said.
''Branding is a bridge between companies and people,'' Posner said.
''Coca-Cola (Co.) almost lost it because they messed around with a friend,'' he noted, referring to the company`s attempt several years ago to replace the Coca-Cola formula with ''New Coke.''
The Ayer study identified a number of trends that will shape marketing in the `90s.
Markets are becoming more fragmented, Posner said, making it misleading and dangerous to generalize about any group. ''There is no homogeneity, even among Baby Boomers,'' he added. Depending on whether they are ''early'' or
''late'' boomers and whether they are conservative, worried, self-assured or leftover `60s types, he said, they will respond to different kinds of approaches.
The last two decades have seen an explosion of products and services, making it difficult for people to find the one that fits their idiosyncratic needs. Posner said 4,000 new packaged goods were introduced in 1989 alone. And the average supermarket stocked 62 percent more items in 1989 than it did in 1982.
Not only are more products and services out there, but people are hearing about them every time they turn around. Posner called this bombardment of commercial messages ''noise without meaning.''
Many people are fearful of what the study calls ''downward mobility,''
the frightening realization that they`re working as hard as they can but are falling behind. Discretionary income and leisure time both fell in the 1980s, Posner said. And people have become anxious about it.
''There are five Baby Boomers for every middle-management job,'' he added. ''That creates an anxiety, a radiation effect.''
People are searching for stability, Posner said, for ''roots and moorings'' that will help them determine who they are.
And there is worldwide economic pressure on corporations that are judged on their ability to manage efficiently, sacrificing long-term objectives to the short-term.
''How do you survive in management for two years?'' Posner asked. ''You do it by making your quarterly goals eight times in a row.''
The growing global economy presents opportunities, too, Posner added. For example, he said, ''95 percent of all the ice cream sold in Eastern Europe is vanilla.''
Posner said consumer product companies face a paradox: ''It is most efficient for them to make one product and market it everywhere,'' but at the same time, ''People are going in the opposite direction.'' They want something that speaks to to them as multidimensional individuals.
So what is ''efficient'' from a company marketing standpoint becomes
''irrelevant'' to the consumer.
At the other extreme, to make a product truly relevant to each consumer is absurdly inefficient. ''You need a balance,'' Posner said. ''You have to work from relevance to efficiency rather than efficiency to relevance.''


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The nation’s shipping industry is one of conflict of interests. There is the interest of government, the shipping service providers and the shippers, the owners of cargos. This scenario therefore presents a herculean task for the Nigerian Shippers Council (NSC) as an umpire, the ports economic regulator. The NSC is saddled with a wide range of statutory responsibilities that are aimed at achieving the ease of doing business at the ports.
The challenges are indeed enormous considering the harsh operating environment. Among these challenges are getting the shipping service providers to play by the rules in terms of charges imposed on shippers and being on their toes to introduce the right cargo handling equipment to facilitate trade. The ports economic regulator also beams its searchlight on the freight forwarders, including the truck owners to ensure that their charges for moving containers out of the ports are affordable. The regulator is also to advise government and its agencies on their charges and fulfillment of their own side of the concession agreement, talking about the Nigerian Ports Authority (NPA).
Checking high charges
For the Council, the first step has been on checking illegal port charges and provision of infrastructure that will make the ports efficient. Having battled shipping companies and terminal operators to retrace their steps on illegal charges, the NSC is currently expected to negotiate out of court settlement on the case with service providers. This is about the fifth year of the case between the terminal operators, shipping companies and the NSC. The two had lost both in the Federal High Court, Appeal Court before heading to the Supreme Court. An out of court settlement is seen as a better option for the interest of the industry and the economy. The NSC had as part of the efforts to save shippers from undue payment of demurrage reached out to the terminal operators and shipping companies to extend their free demurrage days. Following this, the shipping companies have extended the demurrage free days from 5 to 10 days, while terminal operators have reviewed their three free days to 8 days.
On the international scene, the NSC is also tackling conference liners of ships and their agents on surcharges that have impacted negatively on importation. The Council had dragged the multinational agencies to the Global Shippers Forum (GSF) with the collaboration of the United African Shippers Council (UASC). It was to call to order conference liners who have been imposing all manner of surcharges on goods coming to the country.
Some of the surcharges that have been identified as unacceptable in Nigerian ports include peak season surcharge (PSS); extra risk insurance (ERI)/carrier security fee (CSF) surcharge; congestion surcharge (CS); freight tax surcharge (FTS); operations cost recovery (OCR); low sulphur surcharge (LSS); B.A.F (bunker adjustment surcharge) and C.A.F. (currency adjustment surcharge). The NSC was recently part of the meeting in London where the issues of surcharge were discussed. With global concerns on the issue as demonstrated by the GSF in London, Nigeria was advised to host early next year a global forum where the issue of surcharges will be discussed and finally laid to rest. Expected at that meeting are multinational shipping agents, conference liners and other shippers. The forum is seen as an opportunity for Nigeria to bring to global limelight all issues of illegal surcharges by ship owners and their agents.
Equipment audit for ports efficiency
One thing that the federal government has laid emphasis on is to ensure that there is ease of doing business in the nation’s ports. To ensure that this is achieved, the NSC has been interfacing with the relevant stakeholders to ensure that the ships bringing cargos to the country enjoy good turnaround on their vessels. Similarly, the Council wants to ensure that importers and their clearing agents do not have to suffer unnecessary bottlenecks before they can clear their goods from the ports. For this to be realized the Council has been holding meetings with shipping companies, terminal operators and the Nigeria Customs Service (NCS) who have different roles to play to ensure that this happens. The Council had carried out equipment audit to ascertain that the terminal operators and shipping companies have the required up-to-date equipment to facilitate fast cargo handling at the ports.
Speaking on the issue, the Executive Secretary of the council, Barr. Hassan Bello said on the occasion of the commissioning of N3.6 billion mobile harbour cranes in Port Harcourt, Rivers State by West African Container Terminal (WACT) said this was to ensure efficiency in ports operation. Bello said having an efficient cargo handling operation saves a lot of costs and will bring more traffic to the ports.
Bello commended the terminals and shipping companies for believing in Nigerian economy and complying despite the challenges of infrastructure that they encounter.
He said, “I have had a very good and robust relationship with the terminals and my concern is about moderation of cost and efficiency. The Nigerian Shippers’ Council has been auditing the terminals, in Lagos, Warri, Port Harcourt, to see that we have efficiency because the more efficient we are, the more cargoes we have.
“Nigeria is a natural harbour because this is where population is but we have to be efficient and am happy that today, this terminal (WACT) is becoming one of the most efficient terminals we have in West Africa and this is gladdening the heart and all issue of concessioning to the port will be realized. We are not unaware of some challenges and infrastructure and operating conditions of shipping generally”
At another occasion when he met with the executives of the Nigerian Chambers of Shipping who paid him a working visit, Bello explained on why the equipment has become imperative. He said, “we want to know what they are doing, what is the turnaround time for the ships, the equipment they are using. We want to gauge their efficiency, we want to audit the terminals and assist the terminals in reaching their efficiency.
The NSC has some neutrality in this, it is why we are best suited for this. We have neutrality, we have relative autonomy. We are working with the terminal operators to have standards; there are regional and international standards. We are doing this because the efficiency of the ports is important. Everything is competitive nowadays hence the need for our terminal to be competitive, you cannot decree Nigeria to be a hub in Africa, you create a hub”.
He explained further, “You create hub if you are efficient, you create a hub if the cost is reasonable, you create a hub if the processes and procedures are simplified, transparent and you have automation and technology driving your trade. We want to ensure competition at the terminals in the ports because competition drives efficiency and make us have choice and options. Competition is not only to drive efficiency it also affects others in the sense that when a terminal has all the provisions to give their customers options, others will want to do same so as not to be left out.”
Hope for Improved infrastructure
One of the assurances from the ports economic regulator is that infrastructural issues in the ports are being addressed by the government. Bello said,“ government is taking deliberate steps to ensure that these things are being done”. He enjoined the terminal operators and shipping companies to continue to invest in Nigeria, adding, “ because this country is on it way to greatness to bring in more investment.” He pointed out to the rehabilitation of roads leading to the seaports from Oshodi – Mile 2 and believes that once completed, it will improve movement of cargos out of the ports with an end to congestion and years of gridlock.
Dry Ports and Rail Links
To bring shipping nearer to the door steps of shippers, the NSC is also involved in dry port projects in the six geo-political zones of the country. It is expected that some of the Inland Dry Ports (IDPs) may be completed this year. The Kaduna IDP started operation January last year. Now, there is a rail link directly to the dry port. The idea of the IDPs is to make both export and import business easier for shippers. With the IDPs, importers and exporters do not have to come to Lagos or other seaports for shipment. Importers can just choose the IDP as port of destination where they can receive their goods when they travel to any part of the world for trade transaction. The same thing for exporters from any part of Nigeria who can stay in those IDPs to export their goods to any international port.
It is envisaged that the dry ports will equally address the issue of gridlock that has been associated with Lagos ports. The Council assured that with the planned construction of IDP at the terminal end of the Lagos-Ibadan Standard gauge railway, this will help in reducing the gridlock. The dry port will serve shippers from the South West with rail links. The dry port which is being constructed at the cost of $134million will create 3000 direct jobs and over two million indirect jobs, Bello said. He also added during an inspection tour by the Minister of Transportation, Hon Rotimi Amaechi that the IDP is expected to be constructed in the next 18 months and will be technology driven to avoid the mistake made in the seaports.
Bello added, “Most of the land will be for industrial park and truck transit parks so that there won’t be congestion, but most importantly, the dry port will eliminate the perennial congestion at the seaports in Lagos and other places and we will like to move cargoes out of the port to hinterlands because port is not a storage place”.
*Ugwoke, maritime journalist wrote from Apapa


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Secure coupon website to launch in Canada this fall
By Food in Canada staffFood In Canada
In these tough economic times, consumers are looking to save wherever they can. And different reports have been documenting the coinciding rise in coupon use.
To help manufacturers tap into the benefits of this strong interest in coupon use, Boucherville, Que.-based PromoPost Services has developed a website called Couponclick.ca.
The site, which launches this fall, will offer consumers hundreds of online product and service coupons that can be safely downloaded and printed.
In a press release the company noted that each coupon will contain both a coupon and consumer code, so that each one can be traced back to the customer.
The aim is to discourage fraud attempts common with in-store and other coupons, and to track consumers’ buying patterns and product preferences.
The company says it’s these features that both manufacturers and retailers have been waiting for – a secure and value-added online marketing tool to help boost sales.
Pierre Chasle, president of Couponclick.ca, explains that “the technology provides marketers with a direct link to customers, and the ability to gather rich, aggregated information on coupon users that enhances Customer Relationship Management (CRM) efforts and enables the creation of customized promotions.”
Chasle also reports that even before this current economic slowdown consumers were already interested in coupons. An ICOM May 2008 study found that seven out of 10 Canadians planned to use coupons more often to purchase their favourite goods and services. Chasle estimates that number has probably increased to nine today.
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French car-maker PSA, which produces the popular Peugeot brand of vehicles, is entering India. This move comes after two decades. The company is setting up its facilities in Tamilnadu- Chennai and Hosur to be precise.
Peugeot has joined hands with Hindustan Motors, the makers of the iconic Ambassador. The company announced that it will be investing Rs 700 crore (100 million euros) for manufacturing vehicles and auto components out of Tamilnadu.
PSA, best known for the Peugeot, Citroen and DS Automobiles brands, has signed two agreements with Indian conglomerate CK Birla for both vehicle assembly and powertrains and hopes to launch as many as 1 lakh cars a year for the Indian market.
The first agreement is a 50:50 joint venture between PSA and AVTEC owned by CK Birla for the supply of powertrains at a new facility in Hosur.
In the second agreement, PSA will acquire a majority stake in a JV company, set up with Hindustan Motors Finance Corp, for assembly and distribution of PSA passenger cars in India.
The iconic Peugeot cars will be made from an existing facility in Tiruvallur near Chennai, which is currently being used to assemble Mitsubishi car models and Isuzu commercial vehicles.
At the Hosur unit, the manufacturing capacity for powertrains will cater to both domestic market needs and global original equipment manufacturers.
The performance of the set-up will be supported by a significant level of localisation in order to reach the necessary cost competitiveness.
Chairman of PSA, Carlos Tavares, said, ‘This project represents a major step in PSA Group’s worldwide profitable growth in key automotive markets.’
PSA Peugeot Citroen, which renamed itself as Groupe PSA in April last year, had pitched to launch 17 products by 2021 in India.
Third time lucky?
Peugeot had been eyeing its India return since long after its previous two attempts failed. The French carmaker was one of the early entrants into an opened-up India in 1991.
Teaming up with the Maharashtra-based Premier Automobiles in 1994, their first product Peugeot 309 sold around 10,000 units in the first year.
But even before the stipulated cash breakeven and profit-making, labour unrest at the Kalyan plant in 1996 and mounting losses forced Peugeot to exit the joint venture and also India by 1997.
In another attempt in 2011, Groupe PSA even laid the foundation for a factory in Gujarat’s Sanand, aimed at producing over 1,70,000 units annually. But even this plan was later shelved due to financial woes.
Other automobile makers in city
Chennai, nicknamed the Detroit of Asia mainly due to the presence of major automobile manufacturing units and allied industries. These are some of the automobile makers in the town.
Ashok Leyland (Ennore), BMW(Chengalpattu), Ford (Maraimalai Nagar), Hyundai (Irungattukottai), Nissan (Oragadam), Renault (Oragadam), Royal Enfield (Tiruvottiyur).


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Mercedes-Benz Vans and Rivian, a US electric vehicle (EV) manufacturer, have announced the signing of a Memorandum of Understanding (MoU) to initiate a strategic partnership. The partnership will enable the companies to cooperate on the production of electric vans.
Subject to the parties entering into final binding agreements and to obtaining the relevant regulatory clearances, the companies intend to establish a new joint venture manufacturing company. The purpose is to invest in, and operate, a factory in Europe to produce large electric vans for both Mercedes-Benz Vans and Rivian. This is intended to start in a couple of years.
The target is to build an all-new electric-only production facility using an existing Mercedes-Benz site in Central/Eastern Europe. The companies envisage production-optimised vehicle designs for efficient manufacturing on common assembly lines.
They will aim to produce two large vans, one based on VAN.EA (MB Vans Electric Architecture), the electric-only platform of Mercedes-Benz Vans, and the other based on the second generation electric van, Rivian Light Van (RLV) platform. Further options for increased synergies from the joint venture will also be explored.
The joint venture mirrors the common objectives of Mercedes-Benz Vans and Rivian. Both companies plan to rapidly scale the production of electric vans to help the world transition to cleaner zero emission transportation.
By working together, they will be able to use operations synergies and substantially increase cost efficiency to help make the vans more affordable for commercial customers driven by the total cost of ownership.
RJ Scaringe, Rivian CEO, said: “Rivian was created to encourage the world to transition away from fossil fuel consumption by creating compelling products and services. We’re delighted to be partnering with Mercedes-Benz on this project.
“Mercedes-Benz is one of the world’s best known and respected automotive companies, and we believe that together we will produce truly remarkable electric vans which will not only benefit our customers but the planet.”
Rivian, who are no stranger to partnerships, is also working with Amazon who announced that customers in the US will soon see custom electric delivery vehicles made by Rivian delivering their packages.
Mathias Geisen, Head of Mercedes-Benz Vans, said: “As a pioneer in the field of locally emission-free transportation Mercedes Benz Vans has gained broad experience in producing and launching electric vans since 2010. Now we are accelerating the transformation to a fully electric product portfolio.
“From 2025 onwards, all vans based on our new architecture VAN.EA will be electric-only. I am delighted that as part of this transformation we are now joining forces with Rivian – a highly dynamic and inspiring partner with a strong technology position.
“We are sharing investments and technology because we also share the same strategic ambition: accelerating the electrification of the van market with sustainable and superior products for our customers.”
This is not the first collaboration between two automakers when it comes to building electric vehicles. It makes absolute sense to do so when it comes to speeding up the process of vehicle delivery.
Volkswagen also announced they will be expanding their emobility partnership with Ford Motor Company. Ford plans to produce another electric model for the European market based on Volkswagen’s MEB electric platform.


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Tesla stock price
Adam Jonas of Morgan Stanley likes Virgin but is skeptical of the stock, saying it "appears to be driven by forces beyond fundamental factors."
'A smart move': Here's what 4 Wall Street analysts are saying about Tesla's $2 billion common stock offering
Tesla's offering was "a prudent decision given current share prices, and puts the company in a strong financial position," Ben Kallo of Baird wrote.
Tesla slips as it announces a $2 billion stock offering just 15 days after Elon Musk said it wouldn't raise more money
Tesla intends to use the net proceeds from the new offering to "further strengthen its balance sheet, as well as for general corporate purposes."
And, "any softness in Model 3 sales or orders domestically or in Europe could ultimately spook investors near-to-medium term," wrote Toni Sacconaghi.
It's the latest wild swing for Tesla following a week where it posted both double-digit gains and double-digit losses.
The outbreak arrived in the midst of earnings season, and numerous firms addressed the outbreak's early effects on business in China.
At the peak of Tesla's rally, Musk was ranked as high as No. 20 on the Bloomberg Billionaires Index. He now sits at No. 25.
A Reddit trader claims to have raked in a $4.3 million gain by betting on Tesla's skyrocketing stock
If the trader didn't sell their positions on Tuesday, they stands to lose much of their gains from Tesla's Wednesday slump.
The Odey European fund that held the position against Tesla shed 11.2% in January, according to the FT.
'Everybody has a pain threshold': The Big Short's Steve Eisman explains why he covered his Tesla short awhile ago
Eisman told Bloomberg TV he couldn't see a good reason why Tesla's rally has continued. "There's no glory in losing money," he said.
Tesla is now worth $120 billion more than Ford after the legacy automaker's slashed profit forecast tanks its stock
Ford will begin deliveries of its electric Mach E in early 2021 to compete with Tesla, but the younger automaker holds a strong first-mover advantage.
'When it flushes, it's going to flush hard': Notorious short-seller Andrew Left explains why he's betting against Tesla again — after saying he was done forever
Left's comments come a day after his firm tweeted that it had promised it wouldn't short Tesla again, but "Even Elon would short the stock here."
Tesla is the most-shorted US stock amid its post-earnings tear. Here are the top 10 US stocks traders are betting the most against.
The Elon Musk-led automaker retained its spot as the top domestic short at the end of January, when it surpassed Apple, S3 data show.
Tesla's rally has pushed its market value above $150 billion. That means Elon Musk is one step closer to a record $50 billion payout.
Still, Musk is months if not years away from completing all of the tranches of his record payout plan.
'Even Elon would short the stock here': A renowned short-seller is calling foul on Tesla's record-shattering rally
Citron Research, led by famed short-seller Andrew Left, has changed its mind about Tesla many times and even flipped its position on the company.
Pierre Ferragu of New Street Research said Tesla is still valued attractively in the long run, but there are "limited sources" of gains this year.
Billionaire investor Ron Baron thinks Tesla revenue could boom to $1 trillion in 10 years and keep growing
Ron Baron has said he will not sell Tesla, even though the company's recent rally has pushed his firm's stake to $1.3 billion.
The automaker has enjoyed massive gains in 2020, fueled by a blockbuster fourth-quarter report, numerous analyst upgrades, and thwarted short-sellers.
A 'comeback story for the ages': Here's what 4 analysts are saying about Tesla's 4th-quarter earnings win
Tesla shares jumped as much as 12% to hit a record-high price of $650.88 per share. One analyst sees the stock jumping as high as $750 by 2021.
The company accelerated its rollout for the Model Y crossover, announcing deliveries will start by the end of March after a January "production ramp."


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Technology giants fight for online movie, TV streaming rights
Tuesday 31 August 2010
Google and Apple are vying for the rights to stream Hollywood blockbusters and this season's hottest TV series as they rush to bring pay-per-view services to computer screens and connected TVs across the globe.
According to an August 29 article in the Financial Times, Google is trying to secure deals with Hollywood's top movie studios for a new YouTube on-demand service that could be launched as early as the end of 2010.
"Negotiations have been ongoing for several months, but have taken on greater urgency in recent weeks, amid intensifying competition between media and technology companies over the digital delivery of film and TV programming," wrote the Financial Times' Matthew Garrahn and Richard Waters.
Insiders also believe Apple is set to launch a new and improved Apple TV device - a device they believe will connect to existing TVs to provide access to the internet; movies and videos downloaded through iTunes; and may eventually provide a gateway to specially designed applications for your TV through Apple's App store - later this week.
An August 2010 report on the adoption of Web-to-TV in the US by market researcher In-Stat predicted there will be more than 200 million web-enabled consumer electronic devices in US households by 2015 while an April 2010 report by The Convergence Consulting Group showed that more than 800,000 people in the US have unplugged their cable TV subscriptions in favor of web-based TV programming over the last two years.
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Caterpillar To Build Engine Facility In China
Caterpillar announced that it will build a manufacturing facility in Tianjin, China, to increase its worldwide capacity for large-engine production. The $300 million project will be the company’s largest new engine facility in China, according to Caterpillar.
The engine facility, which will be operational in 2013, will become Caterpillar’s third global source for the company’s 3500 series engines, and will produce engines for customers in China and the Asia-Pacific region.
The company’s large engine center in Lafayette, Ind., will continue to manufacture the series engines among others, focusing on customers outside of the Asia-Pacific region. The new facility will not impact Lafayette employees, Caterpillar said.
The 3500 series engines are designed for use in several industrial applications, such as the oil and gas, marine and electric power industries.
For more information: www.cat.com


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But Brazil and Indonesia, which contribute 6% and 5% each, respectively, will be stronger in 2020, it said. For the Anglo-Dutch consumer giant, emerging markets generate about 60% of total turnover but average growth in these markets has fallen to 5-6% in past five years from 8-10% earlier. It operates through local unit Hindustan Unilever in India.
“Economic and market growth in India has accelerated, and has been particularly strong over the past three years,” Unilever chief financial officer Graeme Pitkethly said at the Consumer Analyst Group of New York (CAGNY) conference in Florida.
‘Demand Likely to Stabilise in 2020’
India’s fast-moving consumer goods market grew 6.6% in the December quarter compared with 15.7% growth a year ago, according to Nielsen, which said the rural slowdown has bottomed out and demand will stabilise in 2020.
Over the past decade, sales of branded daily needs in the nation of 1.3 billion people have increasingly relied on the rural hinterland, home to more than 800 million people, whose purchase behaviour is largely linked to farm output.
In the past two years, rural demand, which accounts for about a third of the market and had been outpacing urban sales, was hit by lower farm incomes and liquidity constraints. Rural markets grew 5.2% in the December quarter compared with 7.4% for urban centres, according to Nielsen.
Consumption lacks meaningful catalysts to spark a revival in calendar 2020, BNP Paribas said in a report based on the analysis of December quarter performance at a wide sample of consumer companies and post-earnings commentary by their managements.
“The timing of recovery in consumption demand remains uncertain,” wrote Kunal Vora of BNP Paribas. “The indication by some companies that a recovery may be seen in second half of FY2021 relies largely on the fact that the base will become much favourable by then.”
PRICE HIKES LIKELY
Some companies might be forced to raise prices despite a weak consumer demand environment because of very high raw material inflation in certain agricultural commodities.
HUL’s skin cleansing or soaps segment has also been a drag on the overall business amid contrasting growth trend in its largest business — laundry. The maker of Surf and Dove said the laundry business has seen double-digit growth, but market share and penetration in the soaps segment declined, especially for Lux and Lifebuoy.
“In the skin-cleansing business, penetration for the top two brands has been down, and as a result we have seen declining sales and share losses in 2019,” Pitkethly said. “We have made specific interventions on price and product quality and we are becoming sharper on our brand messaging and, believe me, this will make all the difference.”
For HUL, the category was impacted by both declining market and pricing actions that it took in order to increase competitiveness. The company, during its earnings announcement last month, said it could increase price tags on soaps by 5-6% during the March quarter due to rising commodity costs.
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