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Dream11 and other eGaming companies are faced with the threat of landing in a wider Goods and Services Tax net following a recent move initiated by the indirect tax department.
The gaming companies at present are paying GST on their commissions, whereas the tax authorities are questioning whether there should be a consideration for tax on the volume of entire transaction (the amount users deposit or escrow).
The gaming companies at present are reportedly paying 18% GST on their service fee or commission, which amounts to 20% of the total transaction. In monetary terms it would mean ₹ 3.60 tax on a bet of ₹ 100, whereas if the authorities argument is accepted the GST on the total transaction value would become ₹ 18.
According to a report by business daily Economic Times, the indirect tax department has started questioning some of the top leading online fantasy gaming companies to ascertain if there is a revenue leakage on account of the methodology used by these platforms to calculate and pay goods and services tax. The report states that the tax department has questioned officials from various gaming companies.
Since Fantasy sports is a new industry in India, there are no precedence on the tax determination. Tax authorities are working to determine whether the GST is applicable on the gross service fee / commission of the gaming company or on the total transaction. The total transaction includes the users’ (betters’) contribution to the prize pool.
“The valuation rules (under GST framework) are quite clear that GST is levied on the consideration and currently there is no clarity as to whether the revenue charged by these companies be considered consideration or the total pool. In March some companies were asked to explain why they shouldn’t be paying GST on the total pool,” the paper has reported with reference to a tax official aware of the development.
In response, eGaming companies body Indian Federation of Sports Gaming has reportedly reached out to the Ministry of Finance and the GST Committee for clarity on the issue.
Experts are divided on the issue. Some say that as per the valuation regulations, GST has to be paid on the whole transaction (total bets) and not a common mark-up (commissions).
People in the know say that the tax department would look at the “fact pattern” of the case when they scrutinise these transactions. As per the valuation rules, GST is to be paid on the total consideration.
The only exception to the rule, according to the people cited, could be deposits. But as per definition a deposit is a sum of money paid by and returned to the same individual, which is not the case with online gaming.
Meanwhile, fantasy gaming companies are relying on a Punjab High Court judgement declaring eGaming a skill-based sport to differentiate it from being clubbed under gambling or lottery, where GST is applied on the gross lottery collection at 28%.


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Marking the first day under new Chinese tariffs the Trump Administration has imposed, a ticked off Consumer Technology Association ticked off the reasons they are a bad idea.
The $50 billion in tariffs are meant to force China to lighten up on its own levies on U.S. goods.
In a blog post Thursday (July 5), CTA VP of international trade and government affairs Sage Chandler, said that if punishing China is the goal, the reality is U.S. consumers will be U.S. consumers who will be paying the price.
"A trade war based on increasing tariffs hurts the United States and China, and businesses and consumers," she writes. "A trade war doesn’t have winners." She said the tariffs will hit $15.2 billion worth of tech items including Chinese imports including lithium batteries, navigation devices, disk drives and circuit board components and, combined with expected retaliation, could mean a $3 billion annual hit on U.S. GDP.
Among CTA's big concerns are that the tariffs will put startups at a disadvantage because other nations can undercut them by importing Chinese goods without the extra cost, and that could discourage other potential innovators from starting up at all. "Tariffs are bad for everyone, but they especially hurt small businesses," she said. That is because most either can't switch their sourcing to the U.S. or another country or at least can't without major disruption.
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Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.

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When it comes to new-gen facial recognition software for identification and security purposes, the eyes definitely have it.
Conduent, Xerox’s former services business that split off and went public in January and brings in upwards of $6 billion in yearly revenue, has been awarded a U.S. patent for facial recognition intellectual property that gets most of its data and semantic information from a person’s eyes.
How does this work? Well, it in effect considers the eyes as the proverbial “windows to the soul,” as some people have described the way the eyes can be read to determine a person’s frame of mind.
The Conduent intellectual property locates faces within a video stream and automatically identifies a person’s eyes to better understand facial expressions. Applying machine learning and pattern recognition techniques to that region of the image allows the facial expression to be classified from ubiquitous low-resolution surveillance grade video, the company said.
Using IP to Branch Out to New Use Cases
This automated facial expression recognition IP uses Conduent’s expertise in computer vision techniques and is now enabling the company to pursue commercial opportunities in multiple industries, Chief Information Officer Carol Kline told eWEEK.
“We can use standard security video—no need for high-fidelity video for what our tech does—to analyze the region around your eyes, to be able to pattern satisfaction or emotion,” Kline said.
This can be valuable for brick-and-mortar retailers as they watch customers for such emotions as joy, delight, disgust or something else while they walk the aisles looking for what they want to buy. It can also help store owners and managers to become more optimal about how they present merchandise on shelves and in specific locations around the store.
It also can be used to gauge commuter satisfaction on public transit and improving accuracy of screenings in border-crossing control, Kline said.
Use cases for the facial recognition software in more detail:
In retail: Knowing shopper satisfaction at a more granular level allows the retailer to optimize the physical shopping experience including layout, merchandise and the checkout process. This technology, which can also read customer satisfaction during customer-employee interactions, creates an advantage for omni-channel retailers looking to enhance information gathered from their brick and mortar stores.
In transportation: Facial recognition can be similarly used to gauge rider satisfaction on public transit or customer satisfaction in customer-agent interactions. Through this technology, public transit agencies gain better insights to provide safer, cleaner and more courteous public transportation, further motivating commuters to use these services, including end-to-end multi-modal travel.
In border crossing control: The technology can cross-reference expressions of any persons identified by law enforcement with FBI and Homeland Security databases that scan across millions of photos in state and federal databases, as well as facial images collected from non-citizens as they enter the United States. This advancement could result in more screening for high risk individuals and potentially less for lower risk individuals, making border security more accurate, effective and efficient.
In vehicle passenger detection systems in HOV (high-occupancy vehicle) lanes: The system uses advanced video analytics to detect the number of occupants in moving vehicles with 95 percent accuracy at speeds up to 100 mph. Enforcing the rules of these high-occupancy lanes improves the customer experience for those who abide by the rules and helps governments validate the integrity of HOV lanes and High Occupancy Toll (HOT) lanes.
The patent, along with several others awarded this year, adds to the Florham Park, N.J.-based company’s portfolio of more than 300 U.S. patents and about 400 pending U.S. patent applications.


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HEINEMANN AUSTRALIA EXTENDS SYDNEY AIRPORT CONCESSION
Heinemann Australia has celebrated five years at Sydney Airport by extending its Duty Free concession at the gateway until 2029.
The news is a major coup for the company, which has operated Heinemann Tax & Duty Free store at the airport since 2015.
“I’m delighted that we have attained this agreement extension, as it not only highlights our partner’s trust in us, but it also reflects the success of our company, as well as our brand at Sydney Airport,” says Marvin von Plato, CEO of Heinemann Asia Pacific.
“The new agreement is based on a collective shared vision concerning an evolution and optimization of the current space,” says Richard Goodman, managing director at Heinemann Australia.
“These include renovations of the Perfume & Cosmetics area and multiple new “zones” for customers to shop and dwell.
“In this respect, we will start converting our Heinemann Tax & Duty Free stores accordingly in 2020. The new retail spaces will set a benchmark for modern Duty Free shops with an upgraded design and with the newest brands to offer our passengers the very best of airport retail.”
With the new agreement comes the exploration of data and technology initiatives, with both parties working together to create a truly omni-channel approach to shopping at Heinemann Tax & Duty Free at Sydney Airport; enhancing both the digital experience of passengers and marketing strategies in relation to Duty Free products.
At the heart of the company’s plans to elevate the shopping experience at Sydney Airport even further is the introduction of new zones to create an even more seamless customer experience.
These areas include generational spaces featuring on trend and new brands targeting brand-driven passengers giving them access to new luxury products.
In addition, Heinemann Australia will continue to differentiate its perfume assortment from the domestic fragrance market even further by providing exclusive access for travellers to some of the world’s most exclusive and sought-after brands.
Another luxurious offering in the new shop layout will be a world class promotional zone dedicated to fine champagnes, caviar and some of the world best cognacs.
This space will not only be a space to showcase premium brands, it will also be a parlour for passengers to sit down and enjoy a beverage before their flight.


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Maruti Suzuki is gearing up for the launch of their new WagonR hatchback in the Indian market. Apart from the regular WagonR, Maruti Suzuki is also working on its first electric vehicle for the Indian market.
The Maruti WagonR electric has been spied testing again, near Delhi. The WagonR electric was first showcased at the MOVE Summit 2018, held in September. The design of the electric WagonR is based on the Solio, sold in international markets.
Maruti commenced the testing of 50 prototype electric vehicles in the country in October 2018. The prototype testing was flagged off at the company's Gurugram plant by Maruti Suzuki's Senior Executive Director, CV Raman.
The testing will be done in different terrains and climatic conditions, to help Maruti validate the success of the launch of the electric WagonR in India. The Maruti WagonR electric is said to be powered by a 72-volt system with a 10 - 25kWh battery capacity. The electric WagonR is said to offer a maximum range of 150km on a single charge.
The electric WagonR prototype is said to be based on the HEARTECT platform similar to the Swift and the Dzire. It will come with all the standard features as seen on its petrol counterpart, along with equipment such as ABS and dual airbags.
Maruti Suzuki is also working on completing its battery production plant in Gujarat. The battery production facility is being built in partnership with Toyota India. Apart from the battery plant, the two major car brands will also pool their resources to develop newer technologies for the Indian market.
Currently, Maruti Suzuki is working on the launch of the new WagonR hatchback. The new WagonR is scheduled to launch on the 23rd of January and will come with a host of features and updates.
Thoughts On The Maruti WagonR Electric Spied
The Maruti WagonR electric has been spied on multiple occasions. The electric hatchback will be the first EV from the brand in the Indian market. The WagonR itself has been one of the most popular hatchbacks in the market and has been in the top-selling list every month. The new Maruti WagonR once launched will rival the likes of the Hyundai Santro and the Datsun GO in India.


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Skillmill, a recently launched social network and business platform for the creative industry, aims to connect talent with opportunity. - May 21, 2020 - Skillmill
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Scan-IT to Office extends office applications with unique remote data acquisition and barcode scanner capabilities: Use any smartphone or tablet (Android or iOS) and scan barcodes, images, texts quantities and more directly into Microsoft Word, Microsoft Excel and Google Sheets. Smart cloud services transfer the captured data immediately to a document of your choice. This works globally, regardless of your device’s location, single and multiple user scenarios are supported. - October 02, 2018 - TEC-IT Datenverarbeitung GmbH
All about IT product on one page - a new opportunity for suppliers and buyers of IT products. - September 18, 2018 - ROI4CIO
PoolParty now supports the management of semantic knowledge graphs and linked data governance along the entire data lifecycle. - August 10, 2018 - Semantic Web Company
The Top 100 Registry Inc. has named Roman Harbich a Top 100 Software Executive and the 2018 Software Executive of the year. - July 16, 2018 - Top100 Registry Inc.
Mental Eclipse Theater House sent the audience at Spektakel down the rabbit hole into the maelstrom of darkness and uncertainty that is Wonderland. - June 06, 2018 - Mental Eclipse Theater House
aiLearn, an ed-tech startup company set up to leverage Artificial Intelligence power to address the challenges in education, is creating Robot Ani™  - an AI-powered robot-tutor. Robot Ani acts like “Siri for education,” it is the first robot-tutor designed to simulate one-to-one tutoring and replace human teachers. - April 18, 2018 - aiLearn
Ziyadliwa, Innsbruck’s resident oral storyteller who tells traditional tales in English to adult audiences, is launching a new show in honour of May Day. Entitled “The Goddess and the Green Man,” this one-woman storytelling performance is filled with tales from the British Isles and Celtic sources. - April 18, 2018 - Ziyadliwa
To make boating safer is the mission of Vienna-based startup crewbands. With its Android-app, the team presents the first part of their concept to alarm the crew in case a person has gone overboard (person overboard, POB). The app is unique in the market as most popular fitness trackers and smartwatches can be connected and used as signal transmitters. The specifically designed hardware will be available in summer 2018. - April 16, 2018 - crewbands GmbH
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Electric vehicle maker Tesla sold most of its Bitcoin (BTC) holdings in the second quarter, according to new financial disclosures released on Wednesday.
“As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency,” Tesla said in its quarterly statement. “Conversions in Q2 added $936M of cash to our balance sheet.”
According to the financial statements, Tesla’s net digital asset holdings were relatively stable for three consecutive quarters. By the end of March, Tesla had $1.261 billion worth of digital assets on its books. Following the liquidation, the firm now has $218 million in digital asset exposure.
As Cointelegraph reported, the electric vehicle maker sold a portion of its BTC reserves in March 2021, realizing a net profit of $128 million. At the time, CEO Elon Musk explained that the sale, which amounted to 10% of Tesla’s holdings, was to “prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.”
Just two months prior, in January, Tesla became one of the largest corporate holders of Bitcoin after it bought $1.5 billion worth of the digital asset. The purchase was disclosed in a February filing with the United States Securities and Exchange Commission, or SEC.
This story is still in development.


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Yahoo is trying its best to return to centerstage after shutting down the once-popular Yahoo Messenger in July and redirecting users to a new free service called Yahoo Squirrel. The unstead Internet giant has officially released Yahoo Together, a new app designed to take your favorite features from platforms like Slack and integrate them into communication with friends and family.
The app is available for free for iOS and Android, and Yahoo said it hopes to center the service on topics of discussion.
"Squirrel is now Yahoo Together and is open to all, no invite codes needed! Based on feedback from our early adopters (shout out to you all for helping us shape the product), we've updated the design to make it easier to use and more useful for you," Yahoo said in a release.
"We've also added some new features, like smart reminders, so now you can tap any message to set a scheduled automatic reminder for the group. Get your family, team, cause or crew together."
The app has all of the usual components of the usual messaging services, allowing users to share photos, videos and gifs, create private channels and mute others if needed.
The platform allows users to search through chats and set helpful reminders among dozens of small features that make it easy to communicate with loved ones. Yahoo announced the end of Messenger in June, saying the company needed to focus "on building and introducing new, exciting communications tools that better fit consumer needs."
Users complained that Yahoo Squirrel was invite only, giving any other users an error message when the downloaded the app through the Play Store. In its announcement for Yahoo Together, Yahoo said beta testers for Yahoo Squirrel had given them a ton of good notes and advice on how to improve the service. One of the biggest improvements is the addition of an alarm that users can set for certain events.
Yahoo has had a string of bad news, including last year, when it revealed that all of the accounts on the site -- numbering beyond three billion -- had been hacked into in 2013. After being bought by Verizon last year, it was forced to make the announcement about the breach and has been shedding users since.
Verizon has merged Yahoo with AOL under the banner of Oath, a new company hoping to leverage the brand recognition and subscriber base of all three companies to take back a market now dominated heavily by Google and Facebook.
FOLLOW Download.com on Twitter for all the latest app news.
- Yahoo Messenger is relaunching as Yahoo Together, hoping to combine the organization of Slack with conversations had amongst family or friends.
- The platform was originally known as Yahoo Squirrel when it was launched earlier this year after Yahoo Messenger was officially shut down.
- Yahoo releases app for personalized news, sports, weather, and more
- Featured Freeware: Yahoo Widgets
- Yahoo unveils Messenger 9.0
- Yahoo Mail scans your inbox for receipts, but its competitors don't (CNET)
- Yahoo fined £250,000 by UK watchdog over data breach (ZDNet)
- Yahoo Messenger will die on July 17: Here are the best alternatives (TechRepublic)


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Hyundai Creta, Alcazar, Venue SUV prices hiked by upto Rs 27,000; details here
Hyundai has increased the prices of SUVs in the Indian car market, following the price hike, Creta, Venue, and Alcazar will cost more for the segment’s consumers.
- Almost every auto brand in India has increased car prices
- Hyundai Creta will soon get an updated version
- Similarly, Hyundai Venue is expected to get a facelift
Hyundai has increased the prices of its SUVs like Venue, Creta and Alcazar in the Indian market. The South Korean automaker has joined various other brands like Toyota, Maruti Suzuki, Mahindra and others who previously hiked the prices of their models. The timing of the price hike is crucial as Hyundai has announced the launch of the 2022 Creta. The price hike has affected all petrol and diesel variants of the Venue except the Diesel SX MT variant.
It is to be noted that the Venue models are now more expensive by Rs 12,000. However, Hyundai Creta is now more expensive at Rs 27,000, but the price for the petrol S MT trim remains the same. The Hyundai Venue petrol variant is now priced between Rs 7.11 lakh and Rs 11.82 lakh. Similarly, the diesel variant is now priced between Rs 9.99 lakh and Rs 11.83 lakh.
Also read: Tata Nexon now among top 3 cars in India, remains best selling SUV overall
Similarly, the price of the Hyundai Alcazar has risen by Rs. 10,100. The Petrol Signature (O) dual-tone 6-seater and all three Diesel Signature (O) trims, on the other hand, are unaffected by the price increase.
It is to be noted that Hyundai has launched the Hyundai Creta Knight Edition with black colour covering and the special knight badge on the body. Moreover, the company is also set to launch the updated version of the Hyundai Creta and Hyundai Venue down the line.
The new Hyundai Creta will feature a new parametric grille with uniquely designed LED DRLs, an updated bumper with a slimmer and wider air-inlet, new LED taillamps, and a tweaked tailgate design that adheres to Hyundai's new design language.
The updated Venue, like the new Creta, will feature the brand's new parametric grille, revised bumpers, new rectangular-shaped headlamps, L-shaped tailgate with new LED inserts, and newly designed alloy wheels. We anticipate that the Venue facelift will include an upgraded infotainment system and new BlueLink connected car technology.


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Page 1: Retaliation Risk
Page 2: Electrics • Autonomous • Ride-Sharing • New Deals
The Chinese Are Coming is sponsored by:
Will leaders of the People's Republic encourage Chinese consumers to boycott GM, Ford and FCA products as a form of trade war retaliation? That is the question Bloomberg TV’s Rishaad Salamat and Yvonne Man posed to me on Monday’s show.
China's top officials would not hesitate to pull that lever, in my opinion. Just ask Korean and Japanese automakers. Their sales plummeted in recent years during periods when Korea and Japan made political decisions that were not aligned with Chinese interests.
But the reality is that the Detroit Three are already in trouble -- even before any direct fallout from trade tensions.
Just look at the sales numbers in the first quarter of 2019:
• GM dropped 18% to 830,000 units.
• Ford sank 36% to 136,000 units.
• FCA tumbled 41% to 21,000 units.
Yikes. At this rate, GM, Ford and Chrysler's combined sales in China will fall below 4 million in 2019. That would be almost 2 million fewer sales than their peak in 2016.
Imagine the costs of all that idle plant capacity.
Detroit Three - China Sales:
2016: 5.8 million
2019: 3.9 million (extrapolated from Q1)
Industry executives were hoping that April would be a turning point for the market, the start of a rebound that would gain strength through the second half of 2019. But the April numbers came in ugly. The overall market fell 18%. SAIC-GM sales tumbled a stunning 27%.
Early May’s market readings indicate even more gloom, with further double-digit declines, according to respected investor outfit, Evercore.
What is behind Detroit's abrupt and steep declines?
1. Chinese Automakers Coming Up. Chinese automakers’ design and quality are vastly improved over just a few years ago.
Geely, China's number one private automaker, is selling more than twice as many vehicles as FCA and Ford combined. This is a tidal shift considering as recently as 2016 - a mere 3 years ago - Geely sold only half that of FCA & Ford combined. And Great Wall, the "Jeep of China", now outsells Jeep 10:1 in China's SUV market.
2. No Man's Land. Mass market brands like Ford and Chevy (and Hyundai and Peugeot) are getting squeezed from below by Chinese brands. They are unable to move their brand positioning up fast enough to compete with more highly-respected brands like Toyota, VW and Honda. While China's overall car market is down, Toyota, Honda and VW are winning more market share.
2. Pacific Gap: For many of those GM, Ford and FCA executives who are on the front lines in China, Detroit feels far away. Do the company leaders at HQ fully support what it takes - capital, resources and people - to compete and win in China? How else to explain Jeep's giant missteps in the world's largest SUV market? Or Ford's abrupt reversal after a nice run in the mid-2010s?
Given the significant market pressures the Detroit Three already confront in China, a Beijing-directed boycott would deliver real pain - possibly even a knockout blow.
Learn more about the “China Genius” series, our executive briefings on China’s global auto tech ambitions. For a pamphlet or further explanation, contact Bill Endemann, Senior Advisor at ZoZo Go, at firstname.lastname@example.org
- PAGE 2 -
ELECTRICS • AUTONOMOUS • RIDE-SHARING• NEW DEALS
>> EVs Way Up (Again). EV sales in China climbed to 254,000 in the first quarter of 2019, up 118% over the same period in 2018. China is extending its electric sales lead over America. EV sales reached just 50,000 in the U.S. during the first quarter.
>> Takeaway: Think of China's EV market as separate and distinct from China's overall vehicle market, in which sales fell 15% in the first quarter of 2019. Driving EV sales: Strict national and city-level EV quotas.
>> BYTON. Premium EV start-up BYTON expects to raise $500 million in a new round of fund-raising led by First Auto Works.
>> Takeaway: BYTON will also produce premium electric vehicles for Hongqi, FAW's luxury brand. This brings both scale and political clout. It’s another example of the cozy relationship between new tech companies and China's massive state enterprises.
>> Tesla. Construction of Tesla's Shanghai Gigafactory is moving fast. Tesla could start production as early as August, 2019. Tesla secured $520 million in loans from Chinese banks to start building the facility.
>> China Speed. With Chinese tariffs on US imports set to increase, Tesla cannot wait to start production in China. Good news for Tesla: The Gigafactory is being built by the Shanghai Construction Group, a state enterprise owned by the City of Shanghai. When the Shanghai mayor sets a deadline, construction companies deliver.
>> Alibaba. Alibaba is joining mega-tech competitors Baidu and Tencent in the race for leadership in autonomous vehicles.
Take: McKinsey says that China will emerge as the largest market for autonomous and mobility services by 2030, worth more than $500 billion. Look for BAT (Baidu-Alibaba-Tencent) to lead the way.
>> AutoNavi. This mapping and navigation company owned by Alibaba has launched a super aggregator app that lets customers choose from an array of ride-hailing apps to shorten wait times and get the best price, including Didi.
>> Takeaway: "Invest in, learn from, compete with." Alibaba is a major investor in both Didi and AutoNavi. Look for AutoNavi to enter the ride-hailing industry more directly in the coming moths.
>> Didi. Lost an estimated $1.7 billion dollars in 2018 despite delivering 10 billion rides and controlling 85% of China's ride-hailing market.
>> Delays IPO: Didi initially planned an IPO in 2018. Now, everything is on hold. The company, tarnished by safety issues, layoffs and giant losses, has gone quiet on IPO plans. Despite the setbacks, Softbank invested a fresh $1.6 billion in the company in the first quarter of 2019.
>> Volvo deals. Volvo has inked deals with two battery makers, China’s CATL and South Korea’s LG Chem.
Takeaway: Another step in Volvo’s goal for 50% of their total sales volume to be EVs, by 2025.
>> BAIC/Daimler. Beijing Automotive is reported to be pursuing a 5 percent stake in Daimler, a move similar to Geely's $9 billion Daimler stake taken in 2018.
Takeaway: Like BMW, which plans to take a controlling share of its JV with Brilliance, Daimler might be considering dominant ownership in its 50-50% venture with Beijing Auto. And Daimler could, in turn, increase cooperation with the privately-owned Geely. So, think of this as Beijing Auto's effort to lock itself at the hip with Daimler.
>> China Mobile Blocked. America's Federal Communications Commission blocked the giant China Mobile from US market entry on May 9th, citing China Mobile's connection to the Chinese Communist Party. China Mobile has 899 million customers.
Takeaway: The Trump Administration sees Chinese telecom companies as a clear and present threat to U.S national security. China Mobile is 100% owned by the Chinese government.
>> China Retaliates. China is raising tariffs on $60 billion worth of goods imported from the US.
Takeaway: The Detroit Three already build inside China 95% of what they sell in China. Lincoln and Tesla will be subject to the increased duties until their respective Chinese plants become operational later in 2019.
>> Sequoia Capital Layoffs. The Sand Hill Road powerhouse is reducing its China operations by 10-20 percent or about 70 people.
Takeaway: Down But Not Out. Sequoia China, founded in 2005, has quietly built up a significant role in China's VC world, investing tens of billions of dollars in more than 500 firms including JD.com, Alibaba and Bytedance.


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Google has been eager to get into television for a while now. First there was Google TV, which fell flat after content owners blocked it and consumers complained about the quality. Then there was Q, a glowing orb intended to stream media; it died before it ever had a chance. Now there is Chromecast, and there’s no way Google will let independent developers screw this one up.
Chromecast is little device that plugs into the back of a television, allowing users to send video to their TVs from the Chrome Web browser, and it has a lot going for it. At $35, it’s cheap. It’s also compatible with any device that can run apps and a Web browser, unlike Apple TV, which was designed for people using Apple laptops, phones, and tablets. This fits nicely into Google’s stated philosophy of openness. But the company seems to be taking a step to make the device less open.


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Apple is reportedly readying a special event for November that will deliver word of the company’s first Apple silicon
Macs, according to prolific leaker Jon Prosser.
Without citing sources, Prosser on Thursday said the upcoming special event will concentrate on “ARM Mac” devices, more commonly known as Apple silicon Macs.”To confirm, there IS a November ARM Mac event,” Prosser said in a tweet
. “I’m hearing November 17th.”


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Friday, 29 June 2012
Clint Eastwood's teenage daughter burns N15 millio...: Saw her on Fashion Police with Joan Rivers last night explaining why she burnt the $100k bag. BS reason!
19 year old Francesca Eastwood, star of E! reality show "Mrs. Eastwood & Company" and her boyfriend, photographer Tyler Shields, posted photos online of one of the pricey bags being bitten, sawed with a chainsaw, and set on fire.
I think it's ridiculous to burn a bag that expensive. The reasonable thing to do would have been to burn a fake bag and donate the original to charity or something. Fashion police co-host George Kotsiopoulos was so mad, you could see he was trying so hard to hide his annoyance.


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Crypto News – The host of the YouTube channel Crypto Banter and cryptocurrency trader Ran Neuner claimed in a recent video that the top altcoins in the current bull market are Solana and RUNE.
According to Crypto Trader Ran Neuner, RUNE and Solana are the Two Best Altcoins in the Bull Market
The expert referred to Rune, the native currency of the decentralized liquidity protocol THORChain, as the “ultimate bull market token” since it performs well in bull markets. Neuner claims that the token is currently among the most powerful altcoins available.
The expert went on to note that since the cryptocurrency market rebounded, RUNE’s transaction volume has increased dramatically. Furthermore, Neuner pointed out that the increase in trading volume occurred when consumers began to switch cryptocurrencies using RUNE.
Neuner Hopeful as Solana Price Moves Volatile
In addition, the cryptocurrency trader mentioned Solana’s bright prospects. One of the most volatile price movements since cryptocurrency prices began to rise, in Neuner’s opinion, has been Solana. The token, according to him, went from $15 to $55, with a brief peak of $60.
The analyst pointed out that Solana might be a worthwhile investment if it maintains its current momentum. The analyst expressed concern for RUNE but added that he doesn’t anticipate a significant decline in pricing.


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The Nigerian logistics start-up has launched a new logistics service and online delivery app, AMATNow, in Istanbul, Turkey.
Founded by Babajide Owolodun, the AMATNow platform aims to enable seamless interaction between buyers and sellers of groceries, meals, essentials and other African deliverables.
AMATNow, which had been in beta since 2021, was launched recently to enable seller visibility, take the stress out of heavy loads for users, and provide instant on-demand purchase options.
Furthermore, it was launched to provide an inclusive solution to the obvious challenges of internal logistics and the inaccessibility of delivery to a variety of groceries and African products for Africans in Istanbul due to the fragmented nature of the market. existing.
With AMATNow, users can now find the “one-stop solution” to source and deliver African-themed meals, groceries and household essentials in Istanbul. Likewise, sellers can expand their customer base by leveraging the digital infrastructure and network effects built into its operations.
“When we started creating this app, our goal was to break down barriers between home and abroad for members of the African community and lovers of African culture,” Owolodun said.
“We wanted to partner with existing business owners to share some of our brand ideas and help deliver the best quality products to users who need them, wherever they are, and at reasonable prices” , he added.
Indeed, it is this partner-first approach that seems to appeal to a large number of participants at the launch event. Also speaking at the Istanbul African Business Hub (IABH), he highlighted the importance of close collaboration between small business owners, technologists and brand strategists to disrupt physical industries and grow the new ecosystem. technology business in Istanbul.
AMATNow app is available for iOS and Android users to download from mobile app store. The three tier categories of users, sellers and passengers have the option to register using their email id.
Once the registration is complete, users can proceed to order their favorite products and witness the automated tracking of their delivery in real time through a map provided in the application. Vendors and passengers are also duly confirmed to start after a brief onboarding process.


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After years of operation in an unstable geopolitical and economic reality, representatives of the industrial sector are beginning to look more optimistically at the future. Producers seeking new development opportunities are increasingly reaching for tools used for digital transformation, such as the internet of things, generative AI, or metaverses. According to the report “2024 Manufacturing Outlook”, prepared by consulting firm Deloitte, globally every fifth representative of the industrial sector already uses metaverse technology. The benefits of digitizing basic processes in manufacturing companies remain unchanged: improving efficiency, increasing supply chain resilience, improving competitiveness and reducing production emissions.
The latest Deloitte publication reveals current trends in the manufacturing industry and presents the moods of industry representatives about the near future. The phenomena described primarily concern the role of modern technologies such as artificial intelligence or metaverses in industry, the digitalization of supply chains and the issue of decarbonization of the production process.
The publication’s authors indicate that at the beginning of 2024, there is cautious optimism in the industry, cooled by weaker PMI readings than expected in December 2023 and January 2024. After several difficult years, marked by a lack of stability and supply chain disruptions, the industry seems to be returning to growth. This is a crucial signal, especially for the Polish sector, which has been developing at a pace three times the EU average since 2004, and has one of the highest shares in the national GDP among all EU countries.
Factories are becoming smarter
The pursuit of maximizing the efficiency of the production process is the main reason for the growing popularity of digital technologies in the industry. A manifestation of this phenomenon is the gaining importance of the concept of smart factories, or production plants that increasingly use tools such as the internet of things, generative AI, or metaverse. According to the report’s authors, the application of the latest technology beneficially affects, among others, the production process’s flexibility and the organization’s efficiency. Manufacturers using smart solutions have reduced production costs by a third and improved the quality of the products produced by 20%.
Increasing number of digital twins
One of the most significant challenges for industry in recent years has been the stability of supply chains. Any disruptions in the supply area have far-reaching impacts. To avoid similar incidents in the future, 76% of the respondents claim to be analyzing their supply ecosystems using the latest technology, enabling them to identify sensitive areas of business. An example of this trend is the growing popularity of the digital twin concept.
Technology in the service of decarbonization
In addition to challenges related to stability and resilience, the manufacturing sector is grappling with reducing the emissions of its activity. Key to the decarbonization process is maximizing energy efficiency, Deloitte experts say. Energy demand reduction starts from effective energy consumption monitoring, which also plays a critical role in digital tools.


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Valve recently announced Steam VR, its own virtual reality platform capable of being imported onto headsets. The focus is bringing the vast collection of Steam developers into the VR business, without losing the largest PC marketplace.
To make the platform successful, Valve needs partners, and the first to come out the woodwork is HTC. At Mobile World Congress yesterday, HTC announced the Vive VR, the first Steam VR headset.
HTC revealed a small amount of features for the Vive VR at MWC, but will bring a complete demo version to the Game Developer Conference next week, where Valve will also be showing off Steam VR.
The Vive Developer Edition will be available in the coming months and features two 1200 x 1080 displays with a refresh rate of 90 fps. This should offer realistic quality graphics and eliminate noticeable stutter.
HTC claims it is the first VR headset capable of full immersion, allowing a person to walk around the full room. In terms of sensors, HTC has fitted a gyrosensor, accelerometer, and laser position sensor into the Vive to track user movement.
The design of the Vive VR makes it light on the head for extended use. It offers a weird mesh of cameras and plastic on the front and is much thicker than the Gear VR, since all of the internals are fitted into the headset instead of the smartphone.
HTC is hoping to release a consumer edition later in the year running Steam VR, clearly unhappy with the state of Oculus’ own platform. This could be the tipping point for Oculus in the VR battle, if they start to lose potential partners to Valve and later Microsoft.
Image Credit: [HTC]


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Over the past three years, the number of cars that have been claiming to get 40 MPG and more has ballooned from 3 models to 24, more than half of which are not even hybrids.
According to a recent research released by Edmunds.com, experts tested six models of cars that make this claim and found that only one, the Volkswagen Passat, could actually live up to expectations. This data comes in handy to those who are willing to invest in a vehicle that is fuel-efficient and economic.
To learn more about this test and what vehicles failed, read the full article here:
The 40-MPG Challenge


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Sacred Heart winner of Consumer Choice Award
Consumers in Escambia and Santa Rosa counties have chosen Sacred Heart Health System as the area hospital with the best overall quality and reputation, according to a press release from Sacred Heart Health System.
As a result of the strong consumer preference for Sacred Heart, National Research Corporation recently named Sacred Heart as a winner of the company’s 2015 Consumer Choice Award. This marks the 16th consecutive year that Sacred Heart has won the award for its top consumer ratings in the Pensacola area market, said the release. Through its national online consumer survey, National Research identifies hospitals that healthcare consumers have chosen as having the highest quality and image in markets throughout the U.S.
The survey showed residents of Escambia and Santa Rosa counties rated Sacred Heart among Pensacola area hospitals as having the best quality, best doctors and best reputation. Sacred Heart is a member of Ascension, the nation’s largest Catholic and non-profit health system.
“This award from National Research reflects Sacred Heart’s continued focus on the patient experience, patient safety and providing quality services that meet community needs,” said Susan Davis, president and CEO of Sacred Heart Health System. “This honor would not be possible without the compassionate care shown by our doctors, nurses and staff.” The survey was based on an internet-based questionnaire and responses gathered from September 2014 to the end of August 2015.
“For each of the past 20 years, winning hospitals have provided outstanding experiences that have built consumer preference, loyalty and trust in their markets. We are honored to congratulate this year’s winners on a job well done,” said Brian Wynne, vice president of Business Development at NRC.


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Sony has always been known as the pioneer of many technological inventions and Panasonic has always stayed ahead with their best quality. Thanks to Sony and Panasonic, we now have a long-term storage option in disc form with the new Archival Disc format. It has a vast storage space which falls between 300GB and 1TB. The non-HDD form factor is continuously being improved by these two companies so it gains more resistance to extremity in temperatures and humidity.
Sony and Panasonic is also promising to deliver the "inter-generational compatibility" among different formats as the standard matures. But so far this has only been in words and we will have to wait to see it for ourselves. The team up in the initial stages was signed up a year back in July but there is a long wait ahead of us and the first of the disks will make their appearance in the summer of 2015.
Hello Kitty is Not a Cat!
Amongst some of the latest news to hit the scene is a factoid: Hello Kitty is not a cat! This might be a little hard to believe but for better or worse it is true.
About the Geek Mind
The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.
The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.


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TODAY join @unitedblackout
's Annual #BlackoutBlackFriday
nationwide boycott and day of action "...to spark change and stand united against racial, economic and social injustices... On Friday November 23rd, the biggest retail shopping day of the year also known as #BlackFriday
, join Blackout for Human Rights as we kick off our fifth annual #BlackoutBlackFridaycampaign
, urging people nationwide to take part in an economic #boycott
of major retailers, and any corporations that violate human rights standards, and/or profit off the pain and suffering of others.
Launched in 2014, #BlackoutBlackFriday
is a call-to-action encouraging individuals to refrain from shopping to protest social and economic injustice in the U.S., and instead engage in #culturalactivism
. As an alternative, Blackout for Human Rights -- a collective founded by filmmaker #RyanCoogler
with members including #AvaDuVernay
, Charles King and others -- has organized FREE events in New York City and Oakland, California to #celebrate #arts
, and to build solidarity against extreme capitalism and human right atrocities happening across the country." In NYC, Blackout for Human Rights, in partnership with @filmlinc
, will host a special screening and conversation with #filmmaker
, and #musician
Terence Nance and filmmaker Michèle Stephenson of Rada Film Group.
Film Society of Lincoln Center - Elinor Bunin Munroe Film Center
144 West 65th Street
New York, NY 1002
Doors at 5:30PM. More info at the link in @unitedblackout
's IG profile.


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- All around 931 million tonnes of meals goes to waste just about every calendar year.
- 61% will come from homes, 26% from meals provider and 13% from retail.
- Cutting down squander could have social, financial and environmental gains.
- The UN Sustainable Development Objectives intention to halve food waste by 2030.
Some 931 million tonnes of foodstuff goes to waste just about every 12 months, with concerning 8-10% of worldwide carbon emissions linked to unconsumed make, according to a UN report.
About 17% of global foodstuff production may well go squandered, according to the UN Environment Programme’s (UNEP) Foods Waste Index Report 2021, with 61% of this squander coming from homes, 26% from food services and 13% from retail.
Food squander burdens squander management techniques, raises food items insecurity and is a key contributor to the global challenges of climate modify, biodiversity loss and air pollution.
Reducing meals waste at all stages – consumer and domestic – could for that reason have sizeable natural environment, social and economic added benefits.
This ambition is enshrined in UN Sustainable Improvement Objective (SDG) 12.3, which commits nations around the world to halving per capita world wide meals waste at the retail and purchaser amount by 2030.
Foodstuff waste challenge worse than formerly considered
The Foodstuff Squander Index is the initially of its kind to spotlight the scale of the challenge. In fact, it implies that world-wide foodstuff squander could be far more than 2 times the dimension of previously estimates.
Past experiments indicated that consumer food waste was solely a problem in made nations, with manufacturing, storage and transportation losses assumed to be unique troubles in the acquiring globe.
Nevertheless, the report identified that house foodstuff squander for each capita is identical throughout superior-money, higher center-income and reduce-middle revenue nations. There was inadequate info on small-money kinds.
Incentivizing a food devices transformation
The UN’s Food items and Agriculture Firm (FAO) estimates that 690 million persons went hungry in 2019, with these figures most likely to rise publish-COVID.
With food stuff insecurity influencing so many men and women throughout the earth, the World Financial Forum’s Incentivizing Food stuff Methods Transformation report argues that a transformation of the foods sector is expected to create sustainable, healthy and healthy food items systems.
It estimates that foodstuff decline and squander fees the international financial system $936 billion a yr. Overall, meals methods expense modern society $12 trillion pounds in wellness, economic and environmental expenses – which is 20% additional than the current market worth of foodstuff systems.
The report outlines how meals methods transformation can be incentivized, including by repurposing public investment and policies redesigning organization designs having traders to established larger criteria for organizations and encouraging consumers to shift need to more socially-dependable items.
How to tackle the problem of food squander
At governing administration amount, the Food items Waste Index encourages international locations to use its methodology for measuring food items waste – at family, foods service and retail amount – in buy to guidebook national procedures for foods waste prevention and observe development towards the 2030 goals.
Foods-similar businesses these kinds of as supermarkets can do their little bit to minimizing waste by protecting the high quality and security of produce, utilizing the minimum amount of strength possible. Net of Items know-how, for instance, can be applied to observe each storage temperatures and stock levels for foodstuff vendors.
But there are also numerous issues that can be carried out at shopper or house level, with the FAO suggesting a range of means to waste a lot less food stuff, for case in point by adopting a healthier diet plan, only getting what you need and storing food items sensibly.
Two billion folks in the earth presently put up with from malnutrition and according to some estimates, we need 60% far more food items to feed the global population by 2050. However the agricultural sector is sick-equipped to meet up with this demand from customers: 700 million of its staff now are living in poverty, and it is by now responsible for 70% of the world’s h2o consumption and 30% of international greenhouse fuel emissions.
New technologies could aid our food items devices turn into a lot more sustainable and productive, but sad to say the agricultural sector has fallen powering other sectors in phrases of technological know-how adoption.
Launched in 2018, the Forum’s Innovation with a Purpose System is a huge-scale partnership that facilitates the adoption of new technologies and other improvements to completely transform the way we develop, distribute and consume our food.
With study, escalating investments in new agriculture systems and the integration of area and regional initiatives aimed at improving meals safety, the system is operating with around 50 partner establishments and 1,000 leaders close to the world to leverage emerging technologies to make our food stuff systems additional sustainable, inclusive and efficient.
Understand much more about Innovation with a Purpose’s effects and contact us to see how you can get associated.
The distinction concerning ‘use by’ and ‘best before’
Knowing meals labelling is also helpful. ‘Use by’ tells you the date up to which foods is secure to be eaten, when ‘best before’ signifies that the food’s high quality is most effective prior to that date, despite the fact that it is nevertheless safe and sound to be eaten afterwards.
Folks are also encouraged to consider scaled-down parts and enjoy leftovers, so anything remaining can be frozen for later on or added as substances in an additional food. Foodstuff scraps can also be composted, providing vitamins again to the soil and minimizing your carbon footprint.
Buying neighborhood develop enables individuals to assistance battle air pollution by decreasing supply distances, even though taking in at the very least one particular non-meat centered food a week can also slice emissions related with livestock farming.
Any surplus meals can also be shared or donated – as a result of in-particular person donations at meals banking institutions, informal sharing with good friends and relatives, or via apps this kind of as Olio.


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For decades, April 20 has been recognized as an unofficial marijuana holiday in Colorado and around the country. While this year’s “4/20” may not be marked by large public rallies or concerts due to enduring COVID-19 safety restrictions, there are plenty of reasons for the cannabis community to celebrate – including recent legalization announcements in New Mexico, New York, and Virginia – and for cannabis industry workers to be recognized.
Read more by clicking here.
The Buzz About Honey Cannabis There’s only one insect that produces a food eaten by humans. Bees. And honey, their incredible produ… Read more by


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19 Nov Marks & Spencer stores to stay open until midnight in run-up to Christmas
undreds of Marks & Spencer stores will stay open up to midnight in the last few days before Christmas to help customers spread out their shopping trips.
Around two thirds of branches – close to 400 in total – will trade until 12am on the 21st to the 23rd of December “helping ensure colleagues and customers have the time and space they need to social distance.”
They will include nearly all of the food-only stores, and combined clothing and food stores on retail parks. Those not opening until midnight will close at 10pm.
The move comes the day after business leader Ros Morgan, chief executive of the Heart of London Business Alliance, called for West End stores to be allowed to stay open until at least 11pm during December.
Sacha Berendji, M&S’s retail, operations & property director said: “We want our customers to be able to shop with confidence this Christmas, which means supporting social distancing in our stores and minimal queueing outside as the weather gets colder.
“To help with this, our Sparks Book & Shop service is now live at every store and we’ll be operating our longest ever opening hours just before Christmas to help customers purchase everything they need to make the big day special – however they are celebrating – whether it’s picking up the turkey, or collecting a last minute present they’ve ordered online.
“Along with the wider industry, we continue to ask for Sunday trading hours to be extended to help us increase our capacity to serve everyone safely this festive season.”


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Now that Sony and Microsoft have both talked about their next consoles to some degree, it’s clear that the next generation is nearly upon us. That little fact begs the question of what’s going to happen with the games that are launching on current hardware right before these new consoles release. Will those games make the jump to the new consoles as well? In the case of Square Enix’s Final Fantasy VII remake at least, it sounds like there’s a pretty good chance of that happening.
Right now, we know that Microsoft is targeting a holiday 2020 release for the next Xbox, which is currently known as Project Scarlett. It seems safe to assume that Sony will launch the PlayStation 5 around the same time, if not a little earlier. We also know that the Final Fantasy VII remake will be split into multiple episodes, with the first one releasing in March 2020.
While we don’t have any indication of release timing for the subsequent Final Fantasy VII remake episode, it’s safe to assume that they’ll be launching closer to the release of new hardware – or even after the PlayStation 5 has already arrived. So, naturally, people want to know if Final Fantasy VII will be launching on next-gen consoles as well. When asked by Game Informer, Square Enix president and CEO Yosuke Matsuda suggested that it will.
“I believe that our teams have made it so that the game will support both the next generation and the current generation of consoles,” Matsuda said during E3 2019. “I believe it is being developed so that it is going to be playable on both, so I’m not really concerned about that and I believe that the fans are also going to be able to enjoy it on both, including the next generation of consoles.”
So, there you have it: you’ll probably be able to play the Final Fantasy VII remake on PlayStation 5 at some point in the future. Obviously, it would be great to see the Final Fantasy VII remake come to Project Scarlett in the future as well, but since it’s currently listed as a PlayStation 4 exclusive, that may not happen. We’ll keep an ear to the ground for more, so stay tuned.


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Minister of State at the Department of Enterprise, Sean Sherlock (pictured), has indicated that the government may not pursue legislation to force retailers to declare their profits in Ireland, as part of a statutory Code of Practice for the sector.
Speaking at a Seanad Eireann sitting to discuss the Agriculture Committee's recent report on a proposed Code, Minister Sherlock noted that retailer financial statements are governed by relevant EU company law directives and regulations, which declare that Irish subsidiaries of European businesses "need not produce consolidated accounts provided certain conditions are met."
He added that the government has "no plans to amend this disclosure regime in respect of specific sectors in the economy, as this would be open to accusations of discrimination and, were it to be required generally in the economy, it could have implications in terms of business costs and attracting foreign direct investment."
In addition, Minister Sherlock indicated that while the government intends to establish a supermarket ombudsman, their role will be to ensure that negotiating parties adhere to certain practices, rather than seek to set prices.
"In enforcing any regulations, the basic tenets of fair procedure and natural and constitutional justice must be upheld," Sherlock noted. "It is important to note that the introduction of any regulations does not, and cannot, guarantee anything regarding the prices received by any given link in the supply chain. Negotiations on price will remain an issue between the contracting parties, as happens in any commercial relationship. The intention of the new regulations will be to regulate certain practices, not set prices."
The Minister said that it is the government's intention to publish the Consumer and Competition Bill "by the end of the year, for debate in the Oireachtas in early 2014."
Commenting on the Agriculture Committee's report, Senator Mary White said that the "interventionist tone" of some aspects of the report could be damaging for Ireland's reputation as a "friendly country" for foreign direct investment. "Surely it is far too interventionist for legislators to become involved in the marketing strategy of retailers," she said.
© 2013 - Checkout Magazine by Stephen Wynne-Jones


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The Swedish-based food waste supermarket Motatos continues to show strong growth, and today the e-commerce company announces that it has closed a new financing round that will provide a boost of DKK 282.6m (€38m). This brings the total investments in the company to more than DKK 130 million. €, or almost a billion DKK. The investment must be used in particular to accelerate growth in the key markets.
The new investment round has been carried out at a significantly higher valuation than the previous one and via a directed issue to existing owners. The round was led by SEB Private Equity, Motato’s largest owner, and Exor Capital, which has significantly increased its investment since the fund’s first investment in the Series C investment round in November 2021.
Karl Andersson, CEO and founder:We are experiencing very strong and stable growth in and development of our business, and in a time of turmoil on the market, our relevance only increases further. Taking care of the resources we produce – for the sake of the climate and consumers’ wallets – is not only common sense, but of utmost necessity. With this capital injection, we now have the opportunity to further accelerate the sustainable shift in the food and retail sector in the major European markets
Motatos currently operates in Denmark, Sweden, Germany, England and Finland. The new investment will be particularly aimed at increasing growth in the key markets of Germany and the UK, but will also support the development of the business model and the customer offering across all markets.
To lead the development going forward, Motatos’ founder and CEO, Karl Andersson, will be joined by former COO, Peter Beckius, who was appointed Co-CEO in June. Where Karl will continue to focus on external stakeholder relations, innovation and partnerships, Peter’s focus will be on leading and developing the business and the organization globally.
Karl AnderssonPeter and I have worked very closely together over the past year and found a strength in our different profiles. We share many of the same values, and we have a common view of how Motatos should be developed going forward,
Peter Beckius adds:I look forward to continuing the collaboration with Karl to further improve and develop our business model and customer range. During the year, we have had continued strong development, especially with continued high growth in Germany and a successful launch in England. With new funding in place, we are in a good position to accelerate that growth.
Maria Bilkenroth, SEB Private Equity, confirms that the decision to invest in Motatos is fully in line with the mission to support sustainable development.
Maria Bilkenroth, Investment Director, SEB Private EquityIt is now just over a year since our first investment in Motatos, and we are very satisfied with the results we have seen in that time. Motatos offers price-conscious consumers sustainable choices that are affordable, and this aligns well with our investment focus. Growth in the sustainable business sectors is essential for the circular shift. We look forward to supporting Motato’s team as they continue to expand in the European markets
Many of Matsmart-Motato’s current investors have also participated in the investment round together with SEB Private Equity, including Gullspång Re:food invest, Blume Equity and Exor Group. The law firm Setterwalls Advokatbyrå has assisted with legal assistance and advice
Motatos is an online supermarket that sells daily groceries except refrigerated and frozen goods. The product range is products that would otherwise risk being thrown out due to faulty packaging, overproduction or the like. Motatos began based on knowledge of how incredibly large amounts of food are wasted within the food sector. And how bad it is both for the environment and for the wallet. This knowledge has since been translated into a growing e-commerce, which began in Sweden under the name Matsmart, and today is found in five European markets. www.motatos.dk


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Last September, BMW introduced the next-generation M3 and M4, but those weren’t the only performance machines the company was preparing. Spy photos have shown the automaker developing the M4 Convertible, often with little camouflage covering a design that BMW mostly revealed months ago. Today, though, we have a spy video showing the drop-top M4 lapping the famous Nürburgring race track.
Camouflage continues to cover the rear of the car for some strange reason, hiding the rear quarter fenders and the rear bumper. We don’t expect any significant design differences between it and the fixed-roof coupe, but BMW insists on covering it. However, there is a significant change from the previous-gen model – the roof. The last M4 Convertible had a metal one, but the next-gen M4 Convertible replaces it with a soft-top design, which is not only more compact, but it’s also lighter, helping to improve performance at the expense of insulating the cabin.
Gallery: 2022 BMW M4 Convertible new spy shots
It’s unclear which powertrain configuration will motivate the convertible M model. The M4 uses a twin-turbocharged 3.0-liter inline-six engine making 473 horsepower (353 kilowatts) and 406 pound-feet (550 Newton-meters) of torque, with the Competition model upping that to 503 hp (375 kW) and 479 lb-ft (650 Nm). The M4 is also available with both rear- and all-wheel drive, with a manual gearbox available on the RWD model, so the company has options for the M4 Convertible.
Check Out More BMW M Spy Shots:
BMW hasn’t set a reveal date, though the company has said that it’ll launch “in time for the warm season,” according to BMW PR. Spring has sprung in the US, with warmer weather right around the corner. BMW has been testing it with little camouflage, which makes us hopeful that a reveal will happen sooner rather than later. BMW is also preparing an M3 wagon for the first time, though it’s unlikely to reach the US.
Source: Automotive Mike / YouTube


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Dangote surges on Tiger Brands deal
IOL Business - Jul 6th 2012, 08:17
Shares in Dangote Flour Mills climbed to their highest level in five weeks, after South Africa's biggest consumer foods maker Tiger Brands said it had reached a deal to acquire a majority stake in the Nigerian wheat and pasta maker, helping lift the overall stock index to a month high.
Dangote Flour, owned by billionaire industrialist Aliko Dangote, jumped 4.87 percent to 6.24 naira, almost the maximum five percent daily limit. It is valued it at 31.2 billion naira ($191 mln), helping move the all-share index up 0.34 percent to 22,022 points by 1226 GMT.
“The announcement of a potential acquisition by Tiger Brands firmed up the price of Dangote Flour ... this trend is likely to continue,” said Lagos-based brokerage firm Afrinvest.
Tiger said late on Wednesday it planned to acquire a 63.35 percent stake in the Flourmiller from Dangote's privately-held Dangote Industries Limited. It did not disclose the acquisition cost but said the deal was subject to regulatory approval. -Reuters
Woolworths always listens, says chief
27/11/2013 - 12:22
According to Woolworths chief executive Ian Moir, the company always listens to what its shareholders say about executive remuneration, “especially those who have issues” with the subject.
African business boosts Shoprite sales
05/11/2013 - 08:42
Johannesburg -Shoprite [JSE:SHP] reported a 10% rise in July-September sales on Monday, helped by a strong showing at its sub-Saharan stores outside its struggling home market.
Nigeria inflation hits new five-year low
20/09/2013 - 09:07
Abuja - Nigeria's year-on-year consumer inflation fell to 8.2% in August, lower than July's 8.7% figure, the statistics bureau said on Tuesday, and touching a new 5-year low.
Imperial Logistics achieves pleasing results
22/08/2013 - 12:24
Johannesburg, 21 August 2013 – Imperial increased its revenue in its logistics businesses to R34 billion for the financial year ending 30 June 2013, achieving 21% growth. The European and African Divisions contributed almost equally, with revenue from African countries outside South Africa contributing almost 15% to total revenue.
Look & Listen to re-launch digital music store
09/07/2013 - 08:28
SA music retailer Look & Listen is set to re-launch its digital music store, five months after it halted online purchases on the platform.


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Fund Focus: First State Asia Pacific Leaders
Widely viewed as the best UK manager of Asian investments, Tulloch has attracted so much money and interest that the first of the funds became so large it had to close to new money in 2003.
The Leaders fund replicates the initial portfolio by 80% to 90%, Tulloch says. But by avoiding very small firms, it is manageable - even at its current £1.8bn.
Asian markets have fallen since late 2007, but Tulloch's portfolios have defied gravity (see graph below).
Tulloch attributes this partly to his retreat from China - holdings there have fallen from double digits to just 4% over the past two years - and a similar wariness towards financial stocks.
Instead, he built holdings in defensive stocks such as Australian gold and copper producer Newcrest.
'Initially this held back our performance, but it has been very helpful recently,' he says. His view on Asia's short-term prospects is not rosy. 'Where countries grow too fast for too long, they end up in trouble,' he says.
A 'significant threat' is posed by inflation and the likelihood of governments increasing interest rates to fight it.
Long term, however, Tulloch believes Asia will become the centre of the world's wealth and growth. 'The West has been living on its family silver for too long,' he says. 'In the long term, there will be more money to be made in Asia.'
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The reaction to Pippa O'Connor's debut fashion line, POCO by Pippa, has been overwhelmingly positive, with massive crowds heading to her recent pop-up at Dundrum Town Centre to get their hands on her jeans.
The model and entrepreneur had some more great news for fans today, confirming that at least two new pop-up shops are currently in the works.
The first will be in Cork's Mahon Point, with Pippa sharing the announcement on Snapchat this afternoon.
According to Her.ie , she has been busy checking our several new locations and a Belfast store is also in the works.
The jeans range in price from €85 to €110 and also available on her website .


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Accelerating innovation in payments
BNP Paribas’s Instanea instant payments initiation solution is a benchmark for how corporates can benefit from open banking, explains Carlo Bovero, global head of cards and retail payments at BNP Paribas, and Neil Pein, co-global head of Axepta BNP Paribas and head of payments transformation.
In March, BNP Paribas announced that it had partnered with open banking payments platform, Token, to launch the first online payments service to combine SEPA Instant and PSD2 APIs.
BNP Paribas Instanea delivers account-to-account payment capabilities to increase the speed and security of transactions for merchants across Europe. It offers simple integration with popular shopping carts and payment gateways and eliminates risks such as chargeback since payments are authenticated by the customer in their banking portal.
“We have been working on this concept since 2019 and have tested it with a number of different use cases,” says Bovero. “Any solution that couples instant payments with PSD2 will accelerate innovation in the payments market.”
What BNP Paribas has discovered from talking to its corporate customers is that they have requirements in the B2C space but also for B2B payments. This means there is demand for a product based on instant payments and PSD2 where the total amount of the payment is large and cards are therefore not a suitable option.
According to Pein, open banking has provided a new payment experience for retail customers and encouraged innovation in the area of account aggregation. “In the retail world the use cases are numerous and obvious - merchants have been waiting for this kind of instant payment solution,” he says. “We are among the first banks to bring it to market and it is relevant not only to ecommerce but also physical point of sale.”
Any solution that couples instant payments with PSD2 will accelerate innovation in the payments market
In addition to offering Instanea to merchants with BNP Paribas accounts, it can also be used by payers who do not have an account with the bank. It is a secure and transparent, offers a standard user experience and is available regardless of which institution the payer banks with.
“Instanea is significant in the context of the wider European Payments Initiative (EPI) project,” says Bovero. “This product will address specific needs for customers, but the EPI will be a mass market payments solution and the real accelerator of instant payments in Europe. We need something different to really push instant payments in Europe and this is what the EPI will do.”
He acknowledges, however, that the development of open banking solutions for corporates is still at a relatively early stage. “We are seeing a lot of opportunity but we haven’t seen something really different until now. We are also discussing with potential partners the possibility of using our capacity to build some vertical platform solutions – there is not yet a solution in this market that could be described as completely disruptive.”
A contactless boom
Developing any technology solution takes time. In the meantime, certain methods of payment such as contactless payments have experienced tremendous growth across Europe, partly accelerated by the effects of the pandemic. For example, in January 2020, 38% of in-store payments made in France were contactless, and by the end of the year, that had risen to more than 60%.
“We have seen a real switch in the willingness of customers to use contactless, partly due to the pandemic but also due to the increase in the payment limit from €30 to €50,” says Pein. “Mobile payments will become increasingly influential over the next few years. The mobile device is becoming one of the preferred ways to pay, so the experience on ecommerce is vital and is becoming an important means of interaction between merchants and their customers.”
Despite the pandemic, the number of overall payment transactions was relatively unchanged last year compared to 2019. However, the percentage of contactless transactions rose by 10%-20% across most markets in Europe, says Bovero, who notes that some countries are considering increasing further the contactless payment limit.
Mobile payments will become increasingly influential over the next few years
“We have already seen a sharp increase in usage in counties such as Poland, where 80% of transactions are now done this way,” he says. “In Belgium, the percentage of transactions made via contactless more than doubled last year. We have also seen a strong decrease in cash withdrawal worldwide as the pandemic has seen a decreased use of cash.”
Bovero explains that payment-as-a-service is a very important part of BNP Paribas’s strategic plan. “Our objective is to be an important player in the ‘uberisation’ of payments and we see a real benefit for our corporate clients who can build an end-to-end user experience,” he concludes. “We can offer them a digital platform that supports payments for many different types of services and products around, for example, the customer’s mobility journey.”


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HONG KONG – Royal Caribbean’s newest ship has attractions not usually seen on cruise liners, including bumper cars, a skydiving simulator and a glass observation capsule on a mechanical arm that lifts its passengers high into the air.
What’s also a surprise is the vessel’s intended home port: Shanghai.
After floating out of a German shipyard last week, the $935 million Quantum of the Seas will spend the winter running between New York and the Caribbean before moving to its new base next summer in mainland China’s financial center.
It’s a gutsy move for the world’s second-biggest cruise company. Cruise operators have traditionally sent older vessels to developing countries while saving their most advanced ships for U.S. and European customers. But surging growth in China means it’s a market operators can no longer ignore.
Carnival Corp., the No. 1 cruise company, will become the first global cruise operator to have four ships based in China when it deploys its Costa Serena to Shanghai in April.
The race for China underscores the growing strength of the leisure and travel industries in the world’s No. 2 economy as authorities try to spur domestic spending rather than trade and investment as an engine of growth.
Executives are confident about China’s prospects even as its economy struggles with a prolonged slowdown from double-digit rates of expansion, saying that growth is still strong when compared with developed markets.
Miami-based Carnival expects to carry 500,000 Chinese cruise passengers in 2015, up from 350,000 this year.
“We know that’s just a drop in the bucket to what lies ahead in terms of the market in China, which we believe is going to someday represent more than half of all the cruise guests,” Carnival CEO Arnold Donald said in a phone interview.
The Asian Cruise Association estimated last year that the overall Asian market, which totaled 1.3 million passengers in 2012, could nearly triple to 3.8 million in 2020, including 1.6 million from China.
Carnival is even more optimistic, predicting the number will grow to 7 million by 2020 or about a fifth of the global market.
“For the next five to 10 years, greater China including Hong Kong will play a critical role to the global cruise industry’s development,” said Zinan Liu, Royal Caribbean Cruises Ltd.’s managing director for China.
While the U.S. and European are showing signs of revival, “there’s no region like China and Asia that will grow as rapidly,” he said.
Liu said Royal Caribbean expects to carry 400,000 Chinese cruise passengers in 2015, double the number from last year, from four main ports – Shanghai, Hong Kong, Xiamen and Tianjin.
The company’s 18-deck Quantum of the Seas, which carries 4,180-passengers, arrives in Shanghai in May next year, joining two other Royal Caribbean ships based in China. It’s also expanding operations in Hong Kong to better market to customers in neighboring Guangdong, the richest province in mainland China, Liu said.
For Carnival, the addition of the Costa Serena will raise its China capacity by 3,780 passengers. The company has two other Costa-brand vessels stationed in Shanghai as well as one with its Princess brand.
While companies are salivating over the growth potential of China’s newly wealthy middle class, hurdles remain.
One factor complicating efforts to pitch cruises to mainland Chinese is that “the vast majority of the population have no concept of a cruise,” said Donald, Carnival’s CEO.
Unlike American or European cruise passengers, who tend to be older and have the time to take two-week journeys, Chinese cruise travelers are younger and have less vacation time. That limits the possible itineraries and presents a challenge in cultivating repeat travelers.
Shanghai software engineer Cao Ying took a five-day cruise to Japan and South Korea with her husband on Carnival’s Sapphire Princess, operated by its Princess Cruises brand, after he took one with other staff at his Internet company to entertain clients.
The 30-year-old loved the dining, the shows, the spa and the helpful staff. But she complained that there wasn’t enough time during port calls.
“I think traveling by cruise is a good experience, but the downside is that you couldn’t really see a lot. I couldn’t go to visit the places I would like to go in a foreign country,” said Cao. “So unless it’s a free trip, I wouldn’t take a second cruise, even to go to another country.”
Another big complaint is insufficient cruise ports and related facilities. China’s focus in the past few decades on export manufacturing means ports are geared to shipping containers rather than leisure travelers.
Uncoordinated infrastructure development was highlighted when Shanghai opened a new $260 million cruise terminal on the city’s historic riverside Bund in 2008, only to discover that many big ships couldn’t access it because of a low bridge downstream. Another $140 million terminal with two berths opened at the river’s mouth in 2011 to accommodate those vessels.
Hong Kong christened a new $1.2 billion cruise terminal last year, but the Norman Foster-designed facility has so far been infrequently used. Visits are expected to pick up in coming years.
Visitors have criticized the terminal, built at the end of the old Kai Tak airport’s runway jutting into the scenic harbor, for being hard to access by bus or taxi. A smaller terminal near the city center is more popular and a home base for ships operated by Genting Group’s Star Cruises.
China’s “lack of infrastructure is the biggest impediment to growth,” the annual World Travel Market industry conference, said in a report last year that recommended government intervention to realize improvements.


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WESTLAKE VILLIAGE, CA. — New fruit applications are making their way into supermarket frozen food and snack aisles with Dole Packaged Foods’ newest products.
Dole is known for its fruits and vegetables, which are sold in the fresh, central and frozen sections of supermarkets. Now the company is introducing several innovations that will be sold in additional sections of grocery stores.
The new products were unveiled at Natural Products Expo West, held March 7-11 in Anaheim, California. Products include Dole Wiggles fruit juice gels, Dole Good Crunch fruit bites, Dole Whip frozen drink, Dole Energy Delight fruit juice drink. , Dole Digestive Bliss fruit juice drink and Dole light Pineapple juice drink.
The company is also pursuing a new functional brand called The Secret Nature of Fruit, which features fruit-based vitamin chews to support immunity, focus and energy, and sodas with probiotics to support digestive health.
The product launch supports Dole’s transition to a health and wellness-focused company.
“Health and wellness have seen such an evolution in the United States and around the world, and our focus is to try to offer better nutritional decisions in every category,” said Orse Hodi, CEO of Dole Package Foods USA. “We are the most trusted fruit and vegetable company and the most recognized fruit company in the world. (But) we’ve always acted like a commodity company. As fresh fruit becomes more accessible to everyone, we’re trying to see how we can get it to them (consumers) every minute of the day and every trip they take.”
Through market research, Dole identified the “stressed health boomers” as the group that would be most interested in the new product.
“We’re really focused on the health of the stressed out people who have a hard time accessing that food,” Ms Hoddy said. “We talk directly to our consumers and find out what their needs and wants are and where that space and food is lacking. So we chose the snack and ice cream aisles. (They) needed a breakthrough innovation that led to fruition.”
Looking forward, Dole intends to incorporate more functional benefits into its products.
“Energy, immunity and digestive (health) are the three main factors that are becoming more desirable across the country,” Ms Hoddy said. “Digestive health is something we generally suffer from as a population due to a lack of a balanced diet, so restoring it is the No. 1 priority. Immunity has always been something we strive to improve, especially in light of COVID and (the) flu season. I think what you’re going to see next year is going to push the boundaries of those areas a lot more.”


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Spin-out from Sanderson in fourth sale since 2004


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Earnings headwinds for export-oriented auto ancillaries like Bharat Forge
and Motherson Sumi
refuse to abate due to deteriorating vehicle demand from key customers in developed countries.
The impact is evident from the March quarter numbers and management commentaries.
Multiple problems faced by leading truck and car makers have led to a wide gap between projected and actual revenues of Indian makers of auto parts.
Thus, the risk of earnings downgrade, high for Bharat Forge and Motherson Sumi, could further shrink their price-earnings multiples.
Bharat Forge, India’s leading forgings company, has suffered 27 per cent fall in export revenues in the March quarter.
The commercial vehicle segment, which accounts for nearly half of the total export revenues, has been severely hit due to inventory de-stocking by its key customers in the US.
These leading commercial vehicle makers abroad have indicated that industry volume are likely to drop by 13-18 per cent.
The Class 8 truck order — a measure of the truck sales in North America — has been declining for the past 14 months. Adding to the woes for Bharat Forge, non-auto export revenues, which is linked to sectors such as oil and gas, have dropped 37 per cent in March.
Little wonder then that the company’s management has turned cautious on its guidance of reaching Rs 7,000 crore revenue by FY18 and is slated to revisit the target in the next few quarters.
The stock price is down 42 per cent from its record high and is trading at 19 times its projected earnings growth of FY18. This appears expensive in the light of hazy revenue visibility of its export business.
On the other hand, shares of Motherson Sumi surged 7 per cent after its March quarter results which were announced on Tuesday; the company has posted profits higher than street estimate, thanks to the uptick in local demand.
However, revenues from its European subsidiary grew just 4 per cent against a double-digit in the past few quarters. Some analysts attribute this to lower volumes from the Volkswagen
group, which account for nearly half of the revenue of the European operations.
The street’s expectations of a recovery in SMP’s margins may be unrealistic. There has been no margin improvement in the past one year. Shares of Motherson are trading at 20 times its FY18 projected earnings.
With risk of earnings downgrades increasing and its key customer hobbled by the emission scandal, investors may be unwilling to assign a multiple higher than its average.