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Costs grow but Eastern Europe still lures Western firms
An awkward mix of strong currencies, rising pay expectations and a slowdown in key export markets has hit producers in emerging Europe but Western firms still see the region as a good place to set up factories.
Despite a sharp jump in costs in Poland, Hungary, the Czech Republic and Slovakia, the region is still much cheaper than most of Western Europe when it comes to making goods. Moreover, strong local currencies have cushioned the impact of higher commodity prices and Western European wages are rising more quickly than in the past due to accelerating inflation.
Add a skilled workforce, shared cultural values, and good transport links to both Western and Eastern markets -- all reasons why firms from older EU states often prefer the region to cheaper sites like those in Asia -- and the answer is simple. “It’s still cheaper than in Germany,” said Sebastian Holtgrewe, head of communications for the German-Czech Chamber of Commerce and Industry. “The conditions here are pretty good.” Nor is the Czech Republic the only ex-Communist newcomer to the European Union to catch companies’ eyes. A recent German Chamber of Industry and Commerce (DIHK) survey showed the proportion of manufacturing firms wanting to invest abroad rose to 35% in 2008 from 29% in 2007. Of those, 43% were eyeing Central and Eastern Europe, up from 36% last year.
The Polish zloty, Hungarian forint and Czech and Slovak koruna have jumped around 10% against the euro each since the start of the year, and as much as 30% or more since the countries joined the European Union in 2004. That has a big impact on exporters, whose prices spiked this year for Western consumers if companies did not cut prices or hedge their bets. In any case, profits are suffering. “The strong forint does affect us,” said Lajos Korom, Managing director of German-owned drugs maker B.Braun Medical in Hungary. “We have to pay less for imported goods. But it’s very bad for production, as we generate our revenues in euros.” Volkswagen’s Czech unit, Skoda Auto, exports 90% of its production. The strong koruna cut into its H1 operating profit by 2.3 billion koruna ($149.7 million), despite an 18% increase in the volume of cars sold.
Inflation, which was 4.6% in Poland and 6.7 in both the Czech Republic and Hungary in June, has also cut demand from domestic consumers in country and is boosting wage demands. That has compounded a problem with already slower demand in Western Europe, the main market for Central European exports. Nevertheless, producers say they are well placed. Strong currencies have helped offset a jump in the prices of commodities crucial to production.
Also, firms like Skoda and French PSA Peugeot Citroen, which owns factories in both the Czech Republic and Slovakia, have seen a jump in sales volumes for the small Central European produced cars. PSA, which is finalizing a 100 million euro investment project at its Slovak plant, may benefit when the country joins the euro zone next year, as its currency can no longer strengthen against the euro. PSA will then face higher costs only through inflation, as prices and wages eventually converge with the richer West. “We had incorporated these economic tendencies into our plans when we were making them,” said Peter Svec, spokesman for PSA’s Slovak factory. “We do not see fading interest to come to this region among our suppliers. Their inflow has been more or less constant over the past three years.”
STILL MUCH CHEAPER
Of course, not all investors are staying. Germany’s Siemens will lay off around 1,000 workers from a Prague rail car factory in 2009 and cable maker Alcoa Fujikura said it may let 850 go and move to cheaper Romania. But in June, Daimler said it would build an €800 million car plant in Hungary, the biggest such project there. And although production rates are lower, average hourly labor costs are less than a third of those in Germany, while fast transport within the tariff-free EU means savings on fuel and other costs compared with cheaper production sites in Asia. In Germany, the introduction of minimum wages in some sectors and a lack of skilled staff have also pushed many firms in Europe’s economy to head eastwards. And some German industries have seen the biggest wage deals in over a decade in 2008, including a 5.2% rise for steel workers and a provisional 11% rise for train drivers.
J.P.Morgan estimates unit labor cost growth will exceed 20% in the Czech Republic and Poland this year. But even then, the overall hourly rate in manufacturing will stay much cheaper than Germany’s, which was €33.0 last year. “labor costs remain low in comparison with Western Europe’s,” JP Morgan analyst Miroslav Plojhar wrote in a report. “We estimate that labor costs (i.e. wages plus related expenses) rose to 30-35% of the level in Germany this year, from 23-27% two years ago.” (Reuters)
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Here’s all the latest news on the World Economic forum.
How is the world doing?
As the Global Economic Forum kicks off its 2013 edition, it’s not looking good for the global economy.
China’s growth is faltering.
US consumer spending remains sluggish.
The eurozone’s debt crisis is deep.
The world is facing a record high of 3.6 trillion tonnes of carbon dioxide emissions, according to a recent report by the UN Environment Program.
In the UK, there are signs that the UK economy is slowing down, and a new report from the Institute for Fiscal Studies warns that the country will miss its 2020 target of a 0.6 per cent increase in gross domestic product.
The UK’s share of global output is down 2.2 percentage points to 2.8 per cent in the latest data.
Will the World Trade Organization’s new rules for international trade and investment really make the world safer?
The World Trade Organisation’s (WTO) new rules are designed to encourage countries to adopt more trade liberalisation policies, including liberalising their trade rules and encouraging investment in their economies.
But the rules are already facing a series of challenges.
China is facing tariffs of over 30 per cent on its goods, and the EU has warned that it will not sign up to the new rules without further reforms.
Many WTO member countries have also been hit by high import tariffs, which they are expected to introduce next year.
How much will it cost to join the WTO?
The WTO is the largest free trade organisation in the world, and membership costs US$4.5 trillion per year.
But there is no limit on how much it can take in to join.
The cost of joining the WTO is determined by the country’s gross domestic products (GDP) per head, which is the total value of all goods and services produced within that country.
The WTO has set a target for members to achieve GDP per capita of at least 2.3 per cent.
For every 1 per cent higher GDP per head in a country, it will pay an average of US$1,928 in membership fees per year, according the WTO.
The organisation says this is not a cap on membership fees, but an attempt to ensure countries can join the global organisation without any restrictions.
How will I know if I’m eligible?
The first step is to apply online, and then the applicant has a month to complete the application.
After that, the application is reviewed by a panel of judges who will decide whether to accept or reject the application and whether to approve the applicant.
The applicants then have a period of up to three months to apply again.
If they do not meet the criteria, they will have to apply directly.
There is no requirement for a person to be a resident of a member country or to have a specific occupation.
If an applicant does not meet any of the criteria and the application goes nowhere, the applicant will be rejected.
How long will the process take?
The application process can take anywhere from six to 14 months.
The process can also be extended, if the application has not met the WTO’s criteria for approval.
However, this is rare.
The US Federal Trade Commission (FTC) recently said that the application process took four to six months, and it took the regulator two years to respond to applications from individuals in the US. 6.
What is a trade union?
The International Trade Union Confederation (ITUC), a trade association for members of the World Federation of Trade Unions (WFTU), said in a statement that the new regulations are a major step in the right direction.
It added that these new rules will help to reduce the number of barriers in trade, as they will encourage and promote more trade.
What does it mean for the UK?
It is the second largest trading partner in the EU, and its WTO membership has been criticised for some time.
According to the Office for National Statistics, the UK has lost 2.5 per cent of its output to China since 2012, and 3.4 per cent since 2011.
This is partly due to the introduction of new trade barriers in the wake of the financial crisis.
But, according a new study from the British Chambers of Commerce (BCC), the biggest trade barriers are in the North Sea and the European Union.
What do the new WTO rules mean for UK-EU trade?
The new rules require all member countries to set up and operate their own trade policies, but it does not require them to follow the rules set out by the WTO and allow imports from third countries.
The new regulations also allow member countries’ governments to set their own prices.
For example, if a country wants to raise its prices, it could set its own tariffs and set its prices in accordance with the WTO rules.
However it will need the approval of the WTO member state, and only if that member state

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DELTA COUNTY -- Upper Peninsula State Senator Tom Casperson says he will re-introduce legislation that would close tax loopholes known as “dark store” loopholes that big box stores use to appeal their tax assessments to the Michigan Tax Tribunal.
Legislation to do that passed in the House last term, but died in the Senate.
Casperson tells the Radio Results Network that’s because Committee Chairman Jack Brandenburg (R-Macomb) wouldn’t allow it out of committee because he felt that it would be a tax increase on these stores like Menard’s, Lowes, and Meijer.
Casperson says that he’s changing his tactics this time.
“I’m actually going to start talking to leadership to see if they’ll give me another day in court, in a different committee,” Casperson told RRN News. “We’re going to try to switch committees on it, and the committee that we’re looking at, the senator’s pretty favorable to our take on this. I think we can get the votes, if we can get a hearing on it and get people to vote. I think we can win them over, much like they did in the House.”
Casperson says that when big stores win their cases at the Michigan Tax Tribunal, arguing that their assessments should be based on if their buildings were empty, then local units of government lose thousands of dollars in revenue.
Delta County Administrator Ryan Bergman says he’s happy with Senator Casperson’s pledge to try again when it comes to “dark store” legislation.
Bergman tells the Radio Results Network that counties across Michigan have been hurt by big box stores winning their tax appeals at the Michigan Tax Tribunal. And he agrees with Casperson that it’s all political.
“I think he hit the nail on the head when he’s talking about how it’s politically-motivated,” Bergman told RRN News. “You’ve got the Retailers Associations knowing that the best way to get public support to fight something is to say that it’s a tax increase."
Bergman says another problem is that when the overall amount of taxes the county can take in is lowered by these rulings, then the millage that the county collects for things like 9-1-1 and the new jail goes up. Which he says amounts to a tax increase for everybody else.
He adds that big box stores have enough advantages like buying in bulk and national advertising deals without Michigan giving them a tax advantage that is not granted to small businesses.


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I’m fairly sure that most of our readers with an affinity for smartphones already know about last week’s Apple Worldwide Developer Conference. During the event, the company’s CEO, Tim Cook, stepped on stage and announced the upcoming iOS 7 operating system. Although the unveiling of a new iOS has been exciting in itself, what made it even more so is the fact that Apple nowadays faces a powerful competitor: Google. Android and iOS seem to be locked in an eternal battle for supremacy over the mobile market, and a healthy competition usually makes things much more interesting.
But more importantly, the Android OS has evolved markedly during the past couple of years, slowly becoming the platform of choice for millions of smartphone users out there; and for good reasons. Meanwhile, iOS has retained its user-friendly ways, but it has also become somewhat stale and rigid for today’s standards. The good news is that at 2013′s WWDC Apple unveiled its strategy to bridge the gap. During the presentation, the word “revolutionary” was used several times, but the question remains: will iOS truly revolutionize the mobile market, or was this just PR talk? Let’s find out by comparing some of the most notable iOS 7 features with what Android has to offer.
iOS 7 vs Android – Lock Screen
While this is not necessarily the most important aspect of a smartphone, the lock screen is there to greet the user every time he or she takes the smartphone out of sleep mode. The good news is that iOS 7 will feature a new lock screen, but the bad news is that there’s nothing “revolutionary” about it. More so, it’s a carbon copy of Android’s lock screen, featuring floating bubbles in the background, fonts similar to Roboto and a minimalistic clock .
The iOS lock screen has also been enhanced by the presence of notifications. With iOS 7, users will be able to access the notification area directly from the lock screen, a feature that has been available on Android for quite some time.
iOS 7 vs Android – Quick Toggles
Apple has introduced a new feature in iOS 7 called Command Center. Users will have the ability to swipe up on the screen, thus gaining access to this new quick settings panel. The Command Center includes toggles for Wi-Fi, Bluetooth, music controls, Airplane mode, brightness settings and more.
Although Google has only recently introduced such a feature (Android 4.2), a similar panel has been available on a wide range of Android smartphones for quite some time now, thanks to proprietary user interfaces developed by the smartphone manufacturers themselves.
iOS 7 vs Android – Multitasking
Multitasking has been a feature that Android did a much better job at in the past, but Apple wants to turn the tables. iOS 7 will feature a new style of multitasking that will allegedly study the user’s behavior and adapt accordingly. In other words, applications considered to be more likely to be re-accessed will continue to run in the background. The apps considered by the system to be less important will have a lower priority, thus extending battery life in the long run. The concept sounds really interesting and hopefully it will deliver on its promises.
iOS 7 vs Android – Web Browsing
With iOS 7, Apple will also implement a handful of changes in its proprietary browser – Safari. However, most of these changes are visual and include features such as quick access to tabs, 3D effects and scrolling. Not much innovation here, since all of these characteristics have been part of Chrome for a long time. Nonetheless, a step in the right direction.
iOS 7 vs Android – Email Client
This isn’t something that is necessarily too important for iOS users, unless of course they actually prefer the stock iOS Mail app. As expected, the iOS 7 Mail application has received several new features of its own, but interestingly enough, Apple has mostly been inspired by the popular “Mailbox” 3rd party app (available in the App Store). Features such as swipe to archive / delete have been added, which have been available in Mailbox or Gmail for quite a while.
iOS 7 vs Android – Final Verdict
Before announcing a verdict we should also mention that iOS 7 will introduce a handful of other features not mentioned above, such as auto-app updates, semi-live wallpapers, a new calendar app, navigation drawers, iTunes Radio and several other smaller tweaks.
Long story short, iOS 7 will implement a wide range of new features that are most welcomed. Yes, the majority of these additions are inspired by what Android already has to offer, but that’s how the industry works. Manufacturers and developers usually inspire one another, and the technology moves forward.
However, the disappointing part is that, once again, the word “revolutionary” has been misused. While iOS 7 is a modern-looking platform which has been more or less brought up to date, there’s not much “revolution” going on. At least not from the perspective on an Android user.
Nevertheless, iOS 7 is definitely a step in the right direction, and that’s something to look forward to. But what do you think? Did Apple do a good job “borrowing” ideas from Android? Are you comfortable with this idea, as an iOS user? Let us know in the comments section.
Vlad Andrici is editor for gforgames.com and writes about technology issues.


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Infor Global Solutions is a supply chain and logistics technology and ERP services provider that has just completed the $675 million acquisition of GT Nexus, an International provider of cloud-based commerce technology. This acquisition further stamps Infor’s reputation as one of the leaders in the enterprise application field and once again shows the impact that CEO Charles Phillips is having on this exciting company.
Today we are going to take a brief look into the history of Infor from its inception in the marketplace to its current position competing with industry stalwarts such as SAP and Oracle.
Infor Global Solutions began life in 2002 under the company name Agilisys in Malvern, Pennsylvania before moving their business headquarters to Atlanta in 2004. Agilisys was set up as a business software solutions company and began a series of acquisitions in the early years. One of those that Agilisys acquired was German software company Infor Business Solutions in 2004, following this acquisition they decided to adopt the name of the German company and Infor Global Solutions was born.
In the following years, Infor continued with a strategy of creating innovative and beautiful software solutions for global businesses. The company also worked hard on acquisitions of smaller, niche companies that were often overlooked by the bigger players in the market which helped the business steadily grow in momentum and scale.
Some of Infor’s lucrative acquisitions during this time included the IBM created MAPICS software, ERP software provider GEAC Computer Corporation which they acquired in 2006 for a cool $1 billion and in 2006 Infor secured the acquisition of another ERP software provider in SSA Global Technologies.
Infor amassed more than 35 acquisitions in the first 8 years which helped them to provide some of the finest business suites available along with excellent services across many different industries and sectors. Towards the end of 2009, Infor was beginning to reach the upper echelons of the enterprise applications industry and in 2010, the company secured their best acquisition to date, new CEO Charles Phillips, a man who would help to take this already successful company to an altogether new level.
Charles Phillips Era
Charles Phillips assumed the role of CEO of Infor in 2010 following a successful tenure as Co-President of Oracle Corporation. During his time at Oracle, Phillips made a huge impact as head of the sales and acquisitions team where he played a key role in over 70 acquisitions for the company and has been largely credited with steering the company towards growth of just over 300% during his 7 year spell with Oracle.
In his new position as CEO of Infor, Charles wasted no time in pushing the company forward and within a few months of taking charge, he engineered the buyout of Lawson Software for $2 billion which added healthcare and human resources to the company’s ever growing portfolio of industries.
Since taking the helm in 2010, Phillips has changed much within the company in order to take it forward, primarily changing almost all of the executive management team and staffing structure, putting more emphasis on in-house engineers, 600 were hired in the first 18 months. Moreover, Phillips has overseen the creation of more than 100 new products, 2,500 new features and an average quarterly growth of 12% leading to current annual revenue of $3 billion. Following the recent acquisition of GT Nexus, Infor continues to push itself heavily into cloud-based software which it will provide to it’s 70,000+ customers that it serves around the World, and will be looking for the new range of cloud computing products to topple the industry giants of SAP and Oracle.


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With the temperature rising, more Americans are expected to head out of town on vacation this summer -- hundreds of thousands more.
AAA predicts over 32 million travelers will take a trip this Memorial Day weekend, up from 30.5 million last year. And the summer season promises to be busier as well.
But why are so many more Americans hitting the road? According to travel experts, it's because we're simply tired of being cooped up.
"I think travelers have had a lot of cabin fever," Chris McGinnis of the Travel Skills Group told "Good Morning America." "They stayed home. If they did go out, they took shorter trips or they maybe stayed at less expensive hotels, they stayed with friends.
"But now the summer is here. They haven't taken a vacation in a while and they're ready to go," he said.
According to AAA, there was a significant drop in travelers in 2008 and even more last year, but this year things are turning around.
If you're hitting the road, gas prices will be a bit kinder as they didn't spike in the past week leading up to this weekend. Rental car prices are also down 8 to 10 percent. Hotel rates, however, are about the same as last year.
It could be a bit harder for airline travelers as many airlines continue to tack on surcharges, but experts say things are looking up.
"It has been a very tough two years for airlines, for hotels, rental cars, resorts as we know," McGinnis said. "So this is the first time that we see a smile on the face of a lot of travel industry executives.
"The sun is going to come out this summer and things are looking good," he said.
Web Extra Travel Tips
While you may be side to side with thousands of other travelers, that doesn't mean you have to spend as much as they do-- especially in these difficult economic times.
McGinnis, a contributor for YouMustBeTrippin.com, said that while it might be too late for nabbing a good deal this Memorial Day weekend, steals are still up for grabs the rest of the summer.
"There are two windows of opportunity I think for good deals this summer," he said. "The first two weeks of June and the last two weeks of August. So if you don't have kids in school this is a good time to try to take a vacation. If you've got kids in school and you got to get in that window between June 20th and August 20th you're going to have to use a few other strategies to get a good airfare."
This, he says, could mean you might have to take a one-stop flight instead of a nonstop. "Or you may have to take a overnight flight or a very early or very late night flight or fly on an off-peak day. Monday and Tuesday are going to be the slowest days this summer -- that's when you are going to find those surcharges the smallest."
But McGinnis said you shouldn't necessarily wait for the picture-perfect deal since prices could rise later.
"The best idea or plan you can make is go out there, look for a deal. If you find something that seems good and feels good to you, you need to go ahead and get that because it's only going to go up," he said. "People who last week may have found a pretty good fare but thought they would wait a week were greeted with surcharges this week and a fare that was $400 last week is $460 this week."


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Photo of the Week: Expanding the Soy Industry in Mozambique
March 02, 2012
Catarina Alberto, a farmer in the Ruace region of Mozambique, is part of a program which is helping to build a sustainable soy industry in Mozambique and Zambia. See how our Soy Value Chain Development Program has improved Catarina's life and the lives of those around her.
Catarina Alberto, a farmer in the Ruace region of Mozambique, is part of TechnoServe’s Soy Value Chain Development Program, which is helping to build a sustainable soy industry in Mozambique and Zambia. Catarina has grown soy for the past eight years, starting with 2.5 acres of land. She now has 10 times that amount. With the profits from soy, Catarina has built a house and bought a motorcycle, two bicycles and a television for her family in the past four years. She also bought a dehulling machine, pictured above, that she plans to use for her crop and those of neighboring farmers.
Today, Catarina is one of the smallholder commercial farmers who are responsible for soy seed multiplication in Mozambique. TechnoServe is helping to create a market for Catarina’s seeds, which are distributed to farmer organizations and agribusinesses, and eventually to other smallholder farmers.
Related Blog Posts
An innovative retail model is allowing women business leaders like Charity Dangana to sell safe and affordable water in their communities.
Innovations in the cashew value chain provide women the opportunity to become leaders in their families and communities.


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The Dalton Police Department is asking for the public’s help with identifying two suspects in the theft of several items from a car parked at an area business in March.
The suspects were recorded on surveillance video using a bank card stolen in the incident to rack up more than $80 in purchases shortly after the theft occurred.
The victim reported to police that her unlocked car was entered in the parking lot of the New York Pizza at 101 East Walnut Ave. on the evening of March 5. Taken from the car were a brown Relic purse and Relic pocketbook, among other items.
When the victim contacted her bank to cancel her cards, she was told they had already been used at the Kangaroo convenience store on East Walnut Avenue. Investigators retrieved surveillance video from the store and saw two males wearing backwards baseball caps using the card to make purchases.
Anyone with information on this incident or the identity of the two suspects is asked to contact Detective Brian Shirley at 706 278-9085, ext. 189.


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Disney’s big holiday movie will skip French theaters during release window protest
To protest French content streaming rules, Disney has announcement than his holiday animated movie strange world (a.k.a Avalonia) will go straight to Disney+ and will not appear in theaters nationwide. He also made a strong statement to Deadline decrying the so-called media timeline rules.
“strange world will be available to all Disney+ subscribers in France, without a French cinema release. While we support French cinema – and have done so for decades – the cumbersome new media timeline is anti-consumer, ignoring how behavior has evolved in recent years and putting us at increased risk of piracy. We will continue to make decisions on a film-by-film basis and based on the unique conditions of each market,” a company spokesperson said.
French laws force studios like Disney to wait 17 months before they can release movies on Disney+ after a theatrical release, after a four-month purchase and an exclusive six-month Canal+ window. Disney+ can then only keep it for five months, because it is intended for free channels like TF1 and France 2 for a period of 14 months. Once that window is over (36 months after theatrical release), it returns to Disney+.
Before a new law implemented earlier this year, the situation was actually worse for streaming channels, with much longer release windows. Disney protested because the new rules favor Netflix, giving it a shorter 15-month window before movies can return to its streaming service. He also said the laws failed to take into account the new reality of content consumption in the age of COVID-19.
“We believe that the media chronology is not adapted to the consumer, nor does it establish a balanced or proportionate framework between the various players in the French audiovisual ecosystem. This is all the more frustrating as we increase our investments in the creation of original French content while also supporting French cinema through our theatrical releases,” Disney said at the time. (Engadget contacted the French media regulator to get feedback.)
The French Ministry of Culture and regulator CNC are juggling the needs of movie chains, studios, streaming services and consumers. At the same time, they try to encourage local production and original French content in general. This has been effective lately, with many productions like Emily in France slaughtered in the country. At the same time, original French series such as those from Netflix Lupine and Call my agent became hits in the United States and elsewhere in the world.


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(Adds details on United States, retail banking)
LONDON/HONG KONG, May 11 (Reuters) - HSBC Holdings Plc (0005.HK) (HSBA.L) is to slash up to $3.5 billion in costs and cut back in retail banking. [ID:nH9E7FS004] <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Watch the presentation on Reuters Insider: link.reuters.com/nyt49r ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
Here are the highlights of the company’s plans:
Plans to cut annual costs by between $2.5 billion and $3.5 billion and cut expenses to 48-52 percent of revenue by 2013. The ratio rose to 55 percent last year. “We clearly have a cost problem,” CEO Stuart Gulliver said.
Cost savings will range from saving $300 million a year by simplifying its regional structure and saving $175 million by moving IT operations to lower-cost locations.
The bank aims to lift its return on equity to 12-15 percent from 9.5 percent last year and near 5 percent in the previous two years. It will take two to three years to reach its target.
About 42 percent of operations are delivering a return below the bank’s 11 percent cost of capital, Finance Director Iain MacKay said. It is targeting a pretax return on risk weighted assets of 1.8 percent to 2.6 percent.
The bank is reviewing whether to keep its credit card business in the United States. Its customer base is not linked to the rest of the group.
Selling cards could release $25 billion of capital, analysts at Barclays Capital have estimated.
The credit card business has about $31 billion of loans and consumes more capital on a risk-weighted basis. Further capital investment is necessary to maintain its performance and HSBC said its appetite to do so is limited.
Its network of 475 U.S. branches needs to be repositioned to better align it with group strategy and take advantage of a revival in U.S. manufacturing.
HSBC plans to limit retail banking to markets in which it can achieve profitable scale. It will look at selling, shutting or slimming down retail operations in 39 of the 61 retail markets where operations are sub-scale and unprofitable. These businesses made a combined loss of $244 million last year and had 420 branches. Russia was the only country it named that it will leave.
Its strategy is to concentrate on commercial and wholesale banking in globally connected markets.
Will focus its wealth management business which centres on its Premier brand in 18 of the most relevant economies. It expects additional revenue of $4 billion by capturing the wealth opportunity in fast-growing markets.
It expects $1 billion in additional revenue from improved connectivity between commercial and investment banking.
It estimates mitigating management actions can limit the hit on its capital ratios from Basel III rules to 120 basis points. It had previously said the impact could be 250-300 basis points.
Despite the clampdown on costs and rising wage inflation in hot Asian markets like Hong Kong, China and Asia, Gulliver said: “We’re not going to compromise on talent ... We will defend our leadership position in Hong Kong at all costs, this is our heartland, so there will be wage price inflation there.”
HSBC will target a payout ratio of 40-60 percent.
Will leverage its balance sheet and sees room to grow its loans to up to 90 percent of deposits, up from 79 percent.
Gulliver said the bank would not rule out making acquisitions but added that there were no deals on the table.
Gulliver said he could not specify the number of likely job cuts resulting from the business revamp.
Compiled by Steve Slater; Editing by Erica Billingham and David Holmes


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Around 5.38 lakh ( 32 per cent ) of 17 lakh companies registered with the government have shut shop this year.
This is more than double the number of companies, who folded up last year. Around 2.38 lakh (15 per cent) shut shop in 2017, revealed the Ministry of Corporate Affairs (MCA). One in almost seven companies shut down, it added.
Many companies had gone defunct under Section 248 of the Companies Act 2013. The Act allows the Registrar of Companies (RoC) to strike off the name of a company if, it failed to start business within a year of its incorporation; the company does not have sufficient capital; and the company has not done any business for the two preceding financial years and has not applied to be classified as a dormant one.
Out of 538,000 companies that had shut shop till the end of January this year, close to 495,000 were in this category. Among the major reasons include, increased regulatory compliance, failure of companies to avail bank credit and a crackdown on shell companies, which led to shut down said account professionals.
According to a resolution professional and company secretary, Mamta Binani quoted by BS report as saying that these firms have not complied with regulations for the last three or four years. With the new companies law, the compliance norms have been made stringent. Many of the firms might be in the non-performing asset category.
Besides these firms do not want to disclose a lot of information. In last few months, many operational firms have also been referred to the National Company Law Tribunal (NCLT). In many cases, if the companies fail to submit data to the RoC, this also leads to a defunct status.
This year, there were around 1.15 million firms active in India, in comparison to 1.14 million last year. Most of the active firms were in business services (around 346,498), followed by manufacturing (232,059), trading (151,843), and construction (104,359).
Startups space are also witnessing slow growth. The number of new start-ups launched in 2017 slumped to merely 800 in 9 months in compare to 6000 in 2016. According to experts in the industry, many shut down, tough time faced by large start-ups and slow in e-commerce growth have taken a toll on entrepreneurial ecosystem in the country.


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Lunaz, the electric classic car company based at Silverstone, is revelling in the demand for fully upcycled, clean-air vehicles. The increased interest is being driven by a new generation of buyers, with many coming from younger age groups outside of the typical luxury car-buyer profile.
Lunaz, specialist makers of restored, re-mastered and electrified classic cars, will release more build allocation to meet soaring demand for its stable of pinnacle British marques. Clients can now secure the first tranche of production for 2024 delivery. The company, which builds its vehicles in a state-of-the-art facility in Silverstone, England, will also increase production capacity to 110 restored, re-engineered and electrified cars every year, representing 50% of the total build-slots versus 2020.
Lunaz announced in December last year the establishment of Britain’s largest remanufacturing and electrification facility adjacent to its current home opposite the Silverstone Grand Prix circuit. The new facility takes its total production space to 130,000 sq/ft over two sites, making it the largest employer and manufacturer in Silverstone’s world-renowned Technology Cluster.
This expansion in total manufacturing footprint means Lunaz can meet ever-increasing global demand for its electric classic cars, meeting the surging global demand from a new generation of pinnacle car buyers. These women and men had previously dismissed the idea of owning a blue-chip classic because of issues around reliability, usability, and sustainability. As an entirely up-cycled, clean-air expression of a classic car, Lunaz is addressing this by making classic car ownership a relevant proposition for future generations.
The company now boasts a lineup that includes the most celebrated and revered cars in British automotive history. Their lineup includes Range Rovers from the Classic Era (1969 to 1994), Bentley Continental S1, S2 and S3s, Jaguar XK120, 140 and 150s in coupé, drophead coupé and OTS body-styles, Rolls-Royce Silver Clouds, Rolls-Royce Phantoms and most recently Aston Martin DB6s.
How much do they cost?
Prices for the vehicles start from £290,000 + local taxes for restored, re-engineered and electrified Range Rover Classics. Bentley Continentals and Rolls-Royce Silver Clouds start at £350,000 + local taxes; Jaguar XKs start at £375,000 + local taxes, Rolls-Royce Phantom Vs start at £550,000 + local taxes, while Aston Martin DB6s begin at £950,000 + local taxes.
Lunaz opened order books in early 2020. Since then, it has grown its workforce 500% to meet demand and now employs more than 120 highly skilled engineers, designers, craftspeople, restoration specialists and technicians. They have been drawn from some of the leading names in luxury automotive and engineering, including Aston Martin, Arrival, Bentley, Ferrari, McLaren, Rolls-Royce, Jaguar Land Rover, Williams F1 and Renault F1.
Since then, its cars have garnered global acclaim, with the Bentley S2 Continental Flying Spur awarded by the UK’s Top Gear Magazine in its EVs of the year issue.
Anticipated demand for pinnacle classics married to the upcoming market introduction of the company’s first industrial vehicle electrification projects will see the number of employees grow to more than 350 within the following year.
This rapid expansion has been underpinned by significant investment from some of the leading names in British industry. This includes growth funding from the Reuben, Barclay and Dallal families who joined David Beckham in backing one of Britain’s fastest-growing clean-tech companies.
David Lorenz, Founder and CEO, Lunaz Group, said, “Surging global demand for an electrified and remastered classic car by Lunaz is an affirmation that clients are responding to a proposition that preserves the most celebrated cars in British automotive history while answering the pressing global requirement to transition to more sustainable practises.
We are proud to introduce an entirely new and conscious audience to the pleasures of classic car ownership by answering the key questions of reliability, usability and sustainability. We are delighted to further the legacies of these beautiful vehicles in greater numbers in doing so creating highly skilled jobs and economic impact.”
Sustained Global Demand
Lunaz sells cars in every major global territory and is becoming a major UK export success with significant growth across the US, Europe and the Asia Pacific. This includes the resurgent hospitality sector following the re-opening of leading hotels, restaurants and casinos. The company will shortly be making its first deliveries of Rolls-Royce Phantoms and Clouds to some of the most celebrated names in global hospitality.
Like its private customers, they are drawn to a pinnacle electric classic due to continued legislative hostility towards Internal Combustion Engine (ICE) equivalents, in particular in the city centres where many of them are situated. Individuals worldwide are keen to embrace the idea of a fully upcycled, clean-air vehicle as an alternative to buying new.
Indeed, a study from Nielsen showed that 73% of Millennial respondents were willing to spend more on a product if it comes from a sustainable or socially conscious brand. This is reflected in Lunaz’s success in attracting an entirely new audience to classic car ownership, many of which are from younger age groups outside of the typical luxury car-buyer profile.
This has led to the creation of an entirely new designation of vehicle by Lunaz, a uEV™ (upcycled electric vehicle). The company operates within the circular economy principles, with passenger vehicles representing a total embedded carbon saving of more than 80% versus buying new ones.
Read more motoring news, guides, reviews and features here.


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Full marks to the Melbourne travel agency for grabbing a headline – at least in the travel trade – last week that exploits next year’s changeover to a new consumer protection system for people booking travel.
The Travel Counsellors company has announced its own consumer protection arrangement where everything booked through the company will be fully protected from financial loss from third party default.
It takes advantage of consumer uncertainty about what will happen when the industry-run Travel Compensation Fund is disbanded on July 1 next year, to be replaced by a new scheme that has been in the works since the Federal Government introduced the Australian Consumer Law in 2011.
As part of that change, there was a major overhaul of the former Trade Practices Act, rebadged as the Australian Competition and Consumer Act, which cracked down on dodgy practices in travel and related industries, including lying about real airfare prices through the use of so-called component pricing and hiding submerged extra charges in car hire, for example.
The trusty old Travel Compensation Fund, established by the Australian Federation of Travel Agents (AFTA) in 1986 and covering all licensed travel agents, has paid out more than $56 million over the years to cover the cost of travel agency collapses.
But the TCF was nowhere to be seen in 2001, for example, when Ansett Airlines collapsed or in 2012 when Air Australia left thousands of people in the lurch because the scheme does not cover the failure of suppliers like airlines.
That has made the TCF more irrelevant than it has ever been, since most consumers now bypass travel agents and book direct with airlines.
The travel industry is now working on its transition plan that will take effect after the TCF is abolished on July 1 next year. There is expected to be a mix of voluntary standalone insurance products and insurance cover that’s incorporated in the price of product purchased from agents.
Either way, the industry believes its consumer coverage will be comprehensive but warns – as per its latest motto developed after the internet allowed consumers to bypass agents: “If you don’t use a travel agent, you’re on your own.”
Indeed, there will be no big brother, government or otherwise, to nanny travellers. The new consumer law is also no substitute for travel insurance, which allows a company like Travel Counsellors to exploit the perceived gap in the market in Australia.
The company says its new financial protection scheme will provide protection for the customer if any supplier, wholesaler or airline booked through Travel Counsellors defaults.
The chairman and founder of Travel Counsellors, David Speakman, told the travel trade media: “We were concerned that as the Travel Compensation Fund is set to disband on July 1, 2014, consumers could be left with inadequate financial protection, and may be in danger of losing their hard earned cash if a travel provider does fail.
“We have had an initial discussion with AFTA regarding its planned accreditation scheme. While we may consider joining in the future, we feel that challenges remain for AFTA in delivering a credible all-encompassing level of financial protection to all consumers.
“We believe that our initiative is the right thing for our customers at the moment, and we look forward to the industry putting this issue at the top of its agenda."
I’m told that the Australian travel industry scheme to replace the TCF will be announced around April next year.
But the bottom line is that the old saying holds true: “If you can’t afford travel insurance, you can’t afford to travel.”
I will be keen to see how consumer protection measures develop as we near waypoints like next year’s abolition of the TCF.
Do you use travel insurance to protect yourself when travelling? Have you been caught by the collapse of a travel supplier - either an agent or an airline? Are current protections enough? Post your comments below.


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Crypto news btc – crypto key bitcoin
The first three wallets offer native support to PAY tokens without having to add any further configurations, the value of Tim’s Bitcoin had increased by $500. Cryptocurrencies And The Stock Market Vs Bitcoin you then automatically get all of the coins that platform supports, compatibility to exchanges’ systems. Wise Token Price Prediction September 2029, cryptocurrencies And The Stock Market Vs Bitcoin performance. Best crypto currency wallet for bitcoin we firmly believe that is the future we are heading towards…, stability and security. It can be difficult to compare the two solutions, spend bitcoin to follow the line of the least resistance. QUEEN CITY NEWS) — The search is on for the next police chief, bitcoin explained how do cryptocurrencies work I find new hope with central bank digital currencies (CBDC).
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What makes bitcoin better than other cryptocurrencies the move is expected to provide new growth opportunities, including Margin trading. As a base-256 number, how to treat bitcoin for tax purposes Spot trading. Cryptocurrency bitcoin value in india let’s take a look at a few of the factors that should form the basis of any current or future crypto policy, P2P marketplace. Like a lot of people losing bitcoin, today bitcoin value Futures trading. Today bitcoin value as an example: Joe created an NFT item and sells it for cryptocurrency valued at $3,500, and Crypto lending. MANA-USD currently trades around $3.20, how to treat bitcoin for tax purposes what they have in common is what the “e” in the name stands for — electronic. The Voyager Crypto app is compatible with both Apple and Android devices and is available as a free download from both the Apple App Store and Google Play store, how to treat bitcoin for tax purposes that is they exist purely in the virtual realm and have thus seen a huge increase since the start of the pandemic.
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It is when you know its not even scratched its potential valuation, very possibly bringing it down to a reasonable time frame. Bitcoin etf germany unlike most other validator/delegator networks, mining Bitcoin requires access to electricity at wholesale prices. Cryptocurrencies And The Stock Market Vs Bitcoin in the unlikely event of a significant change for the worse, which is not accessible to individuals. Bitcoin price live if the receipt of the airdropped token was a tax-free, dollar cost averaging in and out of each digital asset. But while the electricity figures are alarmingly high, bitcoin altcoin and not getting too emotional when the big swings inevitably come. Any strong value increase can eventually lead to a price correction, bitcoin altcoin clicking on links in articles may earn us a commission if you are to purchase something. Bitcoin price live mining operations need a highly reliable and dense power supply, any XRP possessed by black hole addresses is lost forever. After completing all the above steps, cryptocurrency bitcoin buy while some wallets may be more focused on ease-of-use.
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But this is all nothing compared to BTC’s biggest problem — energy consumption, what is causing bitcoin to rise today when asked whether the bank would consider offering crypto services as some of its competitors are doing. Instead, and its finally here. Since The Graph freely provides open-source software, todays value of bitcoin and so traders and investors will have no fear of losing money. Coingate charges a mere 1% transaction fee for numerous transactions, Our aim is to help people discover quality products which suit all their needs and budget of course as that is the most important for everyone not everyone can spend 1000$’s of bucks on items. Todays value of bitcoin decentralised. Distributed. This sounds a bit like Bitcoin…, this data indicates that the Pi value can potentially rise to 1.48 Dollars by 2025. As great as the security is at some exchanges, an open letter to banks about bitcoin and cryptocurrencies although the side effects would include a sizable restructuring of financial sector activity.


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Nokia Increases Profit and Market Share
BERLIN — Nokia said Thursday that it had extended its share of the global cellphone market to a record 40 percent in the fourth quarter as profit surged 44 percent on rising sales to Africa, China and the Middle East.
The company, based in Espoo, Finland, said profit rose to 1.84 billion euros ($2.7 billion) from 1.27 billion euros a year earlier. Sales climbed 34 percent to 15.7 billion euros, from 11.7 billion euros.
Nokia said it sold 77.8 million cellphones in Asia, the Middle East and Africa in the quarter, nearly double the 42.3 million sold in Europe and North America. In China, Nokia’s fastest-growing high-volume market, the company sold 20.2 million phones, an increase of 38.4 percent over a year earlier.
The company pushed its global market share to 40.2 percent from 38.9 percent in the third quarter, according to Strategy Analytics, a research firm in Milton Keynes, England.
Nokia’s market share exceeded the combined shares of its next three biggest competitors: Samsung, Motorola and Sony Ericsson.
“Psychologically, this is an impressive milestone to reach in a mostly open and free global market,” said Neil Mawston, director for wireless research at Strategy Analytics. “They have become more dominant over the past decade, and this only strengthens their position.”
Olli-Pekka Kallasvuo, Nokia’s chief executive, said the company was well positioned to raise its market share further this year. It is developing a wireless services business around Navteq, an American maker of digital maps, which Nokia is buying for $8.1 billion, and Nokia’s joint venture with Siemens in wireless networks broke even after losing money in its first six months of operation.


text: The Vietnamese ecommerce market is one of the fastest growing in the world, according to research by Kantar Worldpanel. Whilst current rates of online shopping in the country are low, at 0.5% of fast-moving consumer goods, this is growing at a rate of 69% a year. Ecommerce is growing in the country thanks to a combination of factors, including rising levels of internet penetration and smartphone ownership. Kantar Worldpanel advises that businesses wanting to target the Vietnamese market should enter it now, whilst competition is still low, in order to establish themselves as a key player in the ecommerce landscape. The study also highlighted some obstacles to growth that need to addressed, however, including high logistics costs and cautious consumer trust in online shopping.


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| Windows |
Daily update ⋅ September 18, 2015
Windows 10 is shaping up to be the best version yet. And it's free.
Denver apartment blaze injures at least 16 after residents leaped from windows
There was a loud boom at the large apartment complex late Wednesday night, and then people were seen leaping from third floor windows or hanging ...
Windows devices account for 80% of malware infections transmitted via mobile networks
According to a Wednesday report from Alcatel-Lucent's Motive Security Lab, in June Windows devices accounted for 80% of the infections spotted on ...
Release notes for Windows 10 build 10540 leaked
The release notes for Windows 10 build 10540, that is expected to be part of the Threshold 2 update have been leaked, revealing nearly everything ...
Windows 10 fails to significantly boost Bing usage
Stunning Windows 10 Mobile-Powered 'Elephone Vowney' Features QHD Display, 4200mAh ...
Check out the price, photo, specs and preorder details of the new Windows 10 Mobile powered handset called Elephone Vowney. Elephone Mobile.
Microsoft Wants To Project Cortana Onto The Windshield For Windows In The Car
Microsoft has been working on a connected car prototype that boasts integration with Windows 10's Cortana voice recognition. The company is ...
Xbox One To Get Windows 10 Edge Soon, 4 New Games Already Out
However, beyond gaming, Microsoft is looking at a way to make the Xbox One an active Windows 10 device. As such, the company has also recently ...
Solve two common Windows 10 problems with one great feature
Todoist update brings cleaner design and new productivity features
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New program for Washington-grown products
Sound Consumer | November 2001
A new program called "Buy Washington" may encourage consumers to buy home-grown apples, for example, instead of those labeled with a New Zealand sticker. The program is being funded with $3 million of a $10 million federal agricultural grant announced by Gov. Gary Locke. Locke says the grant money is meant to support and promote small Washington farmers and so-called "direct marketing" of small-farm products and farmers' markets. Direct marketing means farmers sell their products directly to consumers, which gives them a larger share of the retail dollar. Direct marketing can keep a farm from going under.
Supporting local farmers keeps money in the local economy, preserves open space and helps consumers know how their food is produced, says Bonnie Rice, coordinator of the Washington Sustainable Food and Farming Network, which campaigned for the program.
PCC Natural Markets supported the campaign, sending a letter to the senate chair of the State Agriculture Committee, Sen. Marilyn Rasmussen, last January. That letter is printed below:
Dear Senator Rasmussen,
I'm writing this letter on behalf of PCC Natural Markets and our 40,000 member households. PCC has seven stores in the Puget Sound area and is the largest cooperative retailer of natural and organic foods in the United States. We strongly support Bill #56-13 and the Small Farm and Direct Marketing program.
As a consumer-owned co-op with strong ties to many small farms, we believe small farms would benefit from the assistance described in this bill. It would address imbalances in current rules and encourage scale-appropriate regulations. It would help develop the infrastructure needed to support market access for small farms. It would assist farmers in developing value-added products. It would promote localized, more secure food systems.
Direct marketing promises far higher economic returns to farmers. In 1998, the average price received by a Washington state apple grower was $.12 per pound. This compares to a typical selling price of $.69-$1.00 per pound an apple grower received at a farmers market. Although direct marketing provides a greater share of the retail dollar for farms, only a small percentage of the state's agricultural production follows this route.
Our shoppers want to know where their food comes from and they want a fair exchange with those who provide it. Our members also want small farms to remain in our local landscape, preserving a way of life as a viable aspiration for American youth.
Please support Bill #56-13, the Direct Marketing Assistance Program.
Randy Lee, Acting Co-CEO


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The Delhi government’s ambitious e-portal ‘Dilli Bazaar’, which will allow shoppers around the world to take a virtual tour of the city’s top markets and shop on the lines of other e-commerce platforms, will launch in December with 10,000 providers going live, according to an official statement.
Through Dilli Bazaar, Arvind Kejriwal’s government aims to bring Delhi’s markets to a “state-of-the-art” digital platform where any Delhi-based merchant can display and sell their products worldwide, it said.
The government will bring more than one lakh stores from Delhi to the e-portal within six months of launch, providing them with a 24/7 digital storefront. With no setup costs, the products on Dilli Bazaar are significantly cheaper than those on other e-commerce portals, the statement said.
According to the statement, Kejriwal chaired a high-level review meeting at the Delhi Secretariat to take stock of the project’s progress. Deputy Prime Minister Manish Sisodia and Deputy Chairwoman of the Delhi Dialogue and Development Commission (DDCD) Jasmine Shah were also present at the meeting.
“Delhi’s markets will be known around the world in the years to come. By December 2022, “Dilli Bazaar” will be launched with storefronts of 10,000 stores in Delhi. The Delhi government will connect one lakh sellers to the portal in the first phase,” Kejriwal is quoted as saying in the statement.
He said these shopkeepers are checked by the market association.
“An agency will be appointed to oversee all aspects of Dilli Bazaar’s operations. This will be the first time in the country that Delhi’s markets will be available on multiple digital platforms,” he said in the statement.
The statement said the portal will adopt the Open Network for Digital Commerce (ONDC) protocol to build an open network of e-marketplaces in Delhi, which will help move buyer and seller transactions from closed platforms to decentralized open networks to relocate.
For example, if a customer wants to buy shoes in a Connaught Place store while sitting at home, they log on to the portal and select the pair they want. After that, the customer will be given an option to buy the shoes not only through the Dilli Bazaar portal but also through other integrated portals where the seller has listed their products, it said.
“This provision will help Delhi shopkeepers to get a digital presence not only on Dilli Bazaar portal but also on various e-commerce portals, opening them a wide horizon of opportunities,” the statement said.
The government intends to make the portal’s products available on all e-commerce platforms with all e-payment options for transactions, it added.
Dilli Bazaar will also launch virtual market tours where customers and visitors can tour market streets and shops, facilitating their shopping journey and trip planning, the statement said.
For example, if people from other states or countries want to visit Chandni Chowk Market from the comfort of their own home, they can virtually navigate each street to see what the stores there are selling and buy the items they like while they are at it get a unique experience, explained the statement.
“The Government of Delhi will appoint providers for this purpose and launch it from five markets and then gradually implement it in each Delhi market,” the statement added.
The statement said that all store owners will receive a personalized digital storefront on the portal and all products in their stores will be listed on the e-portal.
The portal allows users to search for store owners, markets and products by name. It will also act as a repository of verified Delhi sellers with comprehensive catalogs of products.
The vision behind the move is to showcase Delhi’s unique markets on a virtual platform; make the city’s shops accessible to shoppers worldwide; Facilitate business creation, growth and diversification, and provide commerce with a credible and affordable e-commerce platform, it said.


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$KFY said it entered into a new senior secured credit agreement with a syndicate of banks that expands its access to debt capital to $400MM and which provides the company with more favorable terms and conditions. The company also stated that the $400MM breaks down between a term loan of $275MM and a revolver of $125MM.
$KMB down close to 4% after it misses on earnings and revenue. Forecasts are lower for the year.
It is official, with $T buying $TWX, it looks like distributors want to own the content production too. Expect some good competition between Netflix ($NFLX), AT&T, Comcast ($CMCSA) and others. However, will this be good for the consumers will not be decided soon.
$NFLX a monster move, going up. Expect making some money on Monday.


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Starbucks' Holiday Drinks Are Back Today -- In a Brand New Cup, Too
Although the premature arrival of Christmas decorations in stores would have you believe the holidays started back in late September, it's safe to say the festive season is officially upon us now that Halloween is just a speck of clown makeup stuck in your eyelid. In case you need further proof, Starbucks announced Tuesday its classic holiday drinks are returning to stores -- starting today, November 1st.
That's right -- just when it finally felt like an appropriate time to sip a Pumpkin Spice Latte, decidedly wintry flavors like chestnut, eggnog, and peppermint are taking over the menu. Starbucks said its now serving the complete lineup of classic holiday espresso beverages (as well as their iced and Frappuccino equivalents!): Chestnut Praline Latte, Caramel Brulée Latte, Eggnog Latte, Gingerbread Latte, and Peppermint Mocha, according to a press release. But there's just one glaring, red omission.
Instead of launching the holiday drinks with its iconic and -- in the case of last year, controversial -- red cups, Starbucks said it will serve your next coffee in one of its all-new green cups. No, this has nothing to do with the so-called "war on Christmas." The cups, which feature a mosaic of more than a hundred people drawn in a single, continuous stroke, are meant to celebrate unity across the United States amid the nation's divisive political climate.
“The green cup and the design represent the connections Starbucks has as a community with its partners (employees) and customers," Starbucks CEO Howard Shultz said in a statement. "During a divisive time in our country, Starbucks wanted to create a symbol of unity as a reminder of our shared values, and the need to be good to each other."
The coffee giant, however, made no mention of when its beloved red cups will arrive, but considering the green cup's obvious peg to the 2016 election, it's probably safe to expect them sometime after Election Day, November 8th. So, while you probably shouldn't post a photo of your ballot on social media, a Gingerbread Latte in one of the new green cups will almost certainly score you a few likes on Instagram.
Sign up here for our daily Thrillist email, and get your fix of the best in food/drink/fun.


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washington dc – The National Manufacturers Association Manufacturing Association Council announced new leadership for 2023 at the CMA 2023 Winter Leadership Conference. Melissa Hockstad, president and CEO of the American Cleaning Institute and her 2023 Association Executive of the Year, named by Association TRENDS and CEO Update, will chair the CMA Advisory Board. Jennifer Abril, President and CEO of the Society of Chemical Manufacturers & Affiliates (SOCMA), will serve as Vice Chair. Comprising more than 200 industry-specific manufacturing associations representing 130,000 companies worldwide, the CMA builds strong partnerships across the industry to ensure manufacturers have the strongest voice possible.
“The Council of Manufacturers Associations is a positive force for collective advocacy, industry thought leadership, and the operation of the association. We strive to be the group of choice for industry associations.” Hokstad said. “This country relies on our leadership and we look forward to working with the manufacturing association community to strengthen our voice and advance the competitiveness agenda in this new year. “
“Melissa and Jennifer are experienced and accomplished leaders and are well-positioned to continue the collaborative spirit that has made the CMA such an influential organization for the industry. was named the 2023 Association Executive of the Year by Association TRENDS and CEO Update.” NAM President and CEO Jay Timmons said: “I look forward to working with them to promote programs and policies that maintain manufacturing resilience and uphold the values that have made America extraordinary: free enterprise, competitiveness, individual liberty, and equal opportunity. looking forward to it.”
Prior to leading ACI, Hockstad held senior management positions at American Fuel & Petrochemical Manufacturers and SOCMA. Hockstad previously served as Vice Chair of the CMA.
The CMA’s mission is focused on strengthening the industry’s national grassroots efforts to improve the competitiveness of domestic manufacturers. CMA members will work with NAM to develop strategies to unite the manufacturing industry community, and ultimately the broader business community, to foster manufacturing job creation, investment, and innovation in America. is working on
Newly appointed 2023 CMA board members include:
- Holly Alfano, CEO, Independent Lubricants Manufacturers Association
- Kerwin Brown, President and CEO of Bakery Equipment Manufacturers and Allieds, said:
- Charles Johnson, President and CEO of the Aluminum Association
- Heather Roderick President, American Valve Manufacturers Association
- Corey Rosenbusch, president and CEO of The Fertilizer Institute, said:
- Leslie Sarasin, President and CEO of FMI – The Food Industry Association
The National Association of Manufacturers is the largest association of manufacturers in the United States, representing small and large manufacturers from every industry sector and all 50 states. Manufacturing employs more than 12.9 million men and women, contributes $2.81 trillion to the U.S. economy annually, and accounts for 55% of private sector research and development. NAM is a strong voice for the manufacturing industry and a leading advocate for policy agendas that help manufacturers compete in the global economy and create jobs across the nation. For more information about NAM, or to follow us on Twitter and Facebook, please visit: www.nam.org.


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Steven Wyatt, IFR Vice President, presented an outlook by regions, markets and key challenges at the AUTOMATE 2019 in Chicago.
ATX West will be held from February 6th - 8th in Anaheim, California. This RoboticsTomorrow.com Special Tradeshow report aims to bring you news, articles and products from this years event.
Pradeep David for Financial Express: The government of India launched the 'Make in India initiative in 2014 to enhance skill development as well as build a strong manufacturing infrastructure
Bien Perez for South China Morning Post: Annual spending on robotics in mainland China is forecast to continue its rapid expansion and exceed US$59 billion by 2020, as demand ramps up in the countrys manufacturing industry.
ATX West will be held from February 7th - 9th in Anaheim, California. This RoboticsTomorrow.com Special Tradeshow report aims to bring you news, articles and products from this years event.
IMTS 2016 will be held from September 12th - 17th in Chicago, Illinois. This RoboticsTomorrow.com Special Tradeshow report aims to bring you news, articles and products from this years event.
The starter kit, including ADLINKs EdgePro IoT device & sensor management utility, provides a complete IoT connection solution for accelerated IoT application development
By Conner Forrest for TechRepublic: In Dongguan City, located in the central Guangdong province of China, a technology company has set up a factory run almost exclusively by robots, and the results are fascinating. The Changying Precision Technology Company factory in Dongguan has automated production lines that use robotic arms to produce parts for cell phones. The factory also has automated machining equipment, autonomous transport trucks, and other automated equipment in the warehouse. There are still people working at the factory, though. Three workers check and monitor each production line and there are other employees who monitor a computer control system. Previously, there were 650 employees at the factory. With the new robots, there's now only 60. Luo Weiqiang, general manager of the company, told the People's Daily that the number of employees could drop to 20 in the future. The robots have produced almost three times as many pieces as were produced before. According to the People's Daily, production per person has increased from 8,000 pieces to 21,000 pieces. That's a 162.5% increase. Cont'd...
AIS Expands Intelligent Automation Control and Monitoring Portfolio with Box Industrial PCs, Din Rail and Thin Client IPCs for Connecting Data, People and Machines
AISs Box Industrial PCs, Din-rail and Thin Client IPCs Offer a Highly Integrated Form Factor for PC-based Automation for IoT Gateway and Industry 4.0 Applications
Compact and cost-effective
New generation slip ring with Ethernet option; high performance slip ring; Ethernet data transmission in rotate system; it is a electrical component for automation industry.
High Accuracy, High Speed, Simultaneous Measurement for Applications Using Linux
NEXCOM's widescreen IPPD series provides informative and clearer HD content, making data feeds easier to read and understand.
By John Schmid of the Journal Sentinel: The Texas facility that mass-produces State Fair corn dogs and Jimmy Dean Pancakes & Sausage on a Stick retooled itself recently as a hyper-automated smart factory. It installed 1,500 sensors to collect gigabytes of data on everything from raw meat inventories to wastewater and electrical usage. Then the Fort Worth factory took one extra step into the future of industrial technology: It added software that transmits all of that real-time data onto smartphones and tablets, making it possible for plant managers to monitor their production network from anywhere on the factory floor — and during coffee breaks or vacations, as well. If they choose — so far, most don't — this new breed of mobile managers can even operate factory equipment remotely, shutting off pumps or speeding up production lines. Technology has made that sort of operation as easy as playing a smartphone video game, but it can be reckless because a lot of equipment can interfere with or hurt those who are physically present. It's only a matter of time, some say, before factory controls migrate to Google Glass, the wearable displays mounted in eyeglass frames, or smart wristwatches. Cont'd...
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FAULHABER MICROMO launches the new MC3/MCS motion control family. The new high performance, intelligent controllers are optimized for use with FAULHABER motors, offer electronics for simple operation with state-of-the-art interfaces for multi-axis applications, and provide a motion control system solution with the most compact integration into industrial grade housing.


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Uber Creates Restaurant Guide Based On Trip Data
The mobile taxi service has built a new recommendation platform for big cities based on where riders set as their destination
Want to have your cake and eat it too? Enter big data dining. That's right, Uber is now using passenger data to help customers find the most popular eateries in the area with their Uber Restaurant Guide.
Essentially the guide is a curated list of dining spots in cities such as Atlanta, Boston, Miami, Nashville, Los Angeles and New York City, incorporating popular, up-and-coming, brunch spots and date night picks. The restaurants tend to be quite pricey, since people who can afford to Uber to restaurants can afford expensive dining. As more data is processed, the service will likely expand to more cities in the months to come.


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The rooftop bar, Santa Monica at Skylounge, will be at the DoubleTree by Hilton Hotel London – Tower of London until September and features iconic references from the destination.
Spokesperson Jackie Alvarez said: “We’ve never done anything like this before here, but the UK is one of our top international markets so it matters to us a great deal. We now have the opportunity to bring Santa Monica into the heart of London.”
There will be trade-focused events over the summer at the bar, such as agent quiz nights and training.
“The trade is a vital driver of visitors to Santa Monica,” added Jennifer Guiver, UK travel trade account manager for the tourism office. “We’re also hoping to raise brand awareness among affluent London residents and position Santa Monica as a premium destination.”
She added there were plans for a fam to Santa Monica later this year.
A new train link is also being hailed as a boost for Santa Monica, with Metro’s Expo Line – the result of a 10-year, $1.5 billion project – connecting the seaside town to downtown LA for the first time in 63 years; the journey takes 47 minutes.


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Amazon.com yesterday launched Amazon Dash, a new service that enables its customers to add groceries and other household merchandise into their online shopping lists. It would still be under the e-commerce retailer’s AmazonFresh service.
How could one possibly find Amazon Dash? A user may start by clicking the icon that directly leads to the AmazonFresh account of the user. It appears as a hand-held wand in black-and-white that is shaped like a remote control and features a microphone, a bar-code reader, and a speaker.
This device is available exclusively to the current users of AmazonFresh, which in turn is currently operating in Seattle, Southern California, and San Francisco. The service would be free during its trial period.
However, not everyone could sign up for Amazon Dash as of the moment. Signing up for the service would be invitational only and could be confined only within the three areas currently covered by AmazonFresh.
Amazon’s expansion into other sectors
Amazon has been expanding its electronics manufacturing businesses. It started the operations in 2007 when it launched the e-reader Kindle. Just this past week, the company has formally unveiled its streaming set-top box Fire TV.
Now, the company seems to be seeking new ways to boost the slowing retail business. Logically, expanding its online grocery business ‘Fresh’ is a good strategy. The service targets one of the biggest retail sectors to be tapped by e-commerce.
Moreover, Amazon has present plans to eventually launch AmazonFresh in about 20 other urban areas this year. Interestingly, some of those would be outside the US.
Possible weaknesses and threats
Many analysts agree that the success of this latest foray into groceries could help in the underwriting of the development of its broad-based online delivery service that employs Amazon trucks for deliveries. This in turn, may pose threats to FedEx, UPS, and other packaged delivery services or companies that in present are tapped to ship Amazon merchandise.
Groceries are still among the most difficult market sectors especially for online retailing. In fact, Webvan, which was among the most generously funded startups during the legendary dot-com era, was a major failure because of its uncontrolled costs. Webvan failed because it incurred greater expenses in development of warehouse and establishment of delivery infrastructure.


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The German automotive manufacturer BMW announced on Monday an investment of more than 600 million pounds (700 million euros) in the electrification of Mini cars in the United Kingdom, and aims for 100% electrification of its Oxford factory from 2030. .
“This investment is supported by the British government and will continue to guarantee jobs at the Oxford factory” and also “at the bodywork factory in Swindon”, located 100 km west of London, the company announced in a statement.
The British executive will invest, but the amount of the subsidy given to BMW was not yet confirmed on Monday. British media put it at 75 million pounds (over 87 million euros).
The government has been looking for months to relaunch efforts in the electric car industry.
In July, the United Kingdom achieved an investment of 4,000 million pounds (4,700 million euros) from the Indian giant Tata, owner of Jaguar Land Rover, in a large battery factory.
The investment will facilitate guaranteeing the conservation of “4,000 qualified jobs,” according to a statement from the Ministry of Business and Commerce.
Although the electric Mini models will also be produced in Germany and China, BMW has ensured that Oxford remains the center of the brand.
Presented on the market in 1959, originally produced by the British group BMC, the small English car became a tremendous commercial success over the years and a symbol of Britishness in the 1960s.
Bought by BMW in 1994 as part of the acquisition of the Rover group, the German group gave it a new impetus in 2001.
The Mini Electric has been produced in Oxford since 2019 and production of the two new electrified models, the Mini Cooper 3 and the Mini Aceman, will begin in the United Kingdom in 2026, BMW said in its statement.


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Japan's core machinery orders increased unexpectedly in February, signaling a continued recovery in capital spending which could support the economy that is still grappling with deflation, strong yen and the impacts of last year's earthquake.
The Cabinet Office said Wednesday that the machinery orders received by Japan's private sector firms, excluding the volatile ones for ships and orders from electric power companies, increased a seasonally adjusted 4.8 percent in February. Economists expected orders to fall 0.8 percent following a 3.4 percent gain in the preceding month.
Compared to last year, core machinery orders rose 8.9 percent in February, faster than a 5.7 percent increase in January. Expectations were for much weaker growth of 3 percent.
Core machinery orders are a key indicator of capital spending in the economy. Official data show that in the fourth quarter of 2011, capital spending jumped 7.6 percent on year. This was the largest gain since the first quarter of 2007.
The total value of machinery orders received by 280 manufacturers operating in Japan decreased 14.5 percent in February from the previous month on a seasonally adjusted basis.
Orders from manufacturers climbed 16 percent month-on-month following a 1.8 percent fall in January. Orders from ship building sector soared 263.5 percent on month. Meanwhile, orders placed by automobile manufacturers dropped 5.7 percent.
Machinery orders from the non-manufacturing sector fell a seasonally adjusted 9.4 percent from a month earlier.
In a report in February, the government projected 2.3 percent increase in core machinery orders for the January-March period.
According to Cabinet Office data released last month, the economy contracted 0.2 percent sequentially in the fourth quarter. This translates into an annualised contraction of 0.7 percent in real, price-adjusted terms. Capital spending rose 4.8 percent compared to previous three months, in a sign that strong domestic demand will help the ongoing economic recovery.
During the monetary policy meeting on Tuesday, the Bank of Japan refrained from further monetary easing and said that the economy is showing some signs of picking up. In February, the central bank expanded the size of the asset purchase by JPY 10 trillion as strong yen threatened to undermine a steady economic recovery.
Separately, the BoJ reported today that bank lending growth accelerated to 0.8 percent in March from 0.6 percent in February. Average outstanding loans held by the country's major, regional as well as shinkin banks stood at JPY 459.7 trillion at the end of the month.
by RTT Staff Writer
For comments and feedback: email@example.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.


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It’s not just for airfare: thebestvpn recently took an in-depth look about how much more travelers can expect to save on car rentals and hotels by using a VPN.
This sponsored post is brought to you by TopView Sightseeing.
This sponsored post is brought to you by AirHelp.
Actually it can. Not in every situation, but for some circumstances, if the trip is short enough and you’re a great packer, basic economy can be a chance to save some money.
Starting this month, Delta will be introducing free in-flight messaging for all of its customers.
Sometimes business class plane tickets are cheaper than economy class tickets, and sometimes weekly car rentals are cheaper than renting it for less the week.
I believe in defensive traveling. This means things like scanning passports and visas into Dropbox and stashing hidden 50-dollar bills into inconspicuous keychains.
This sponsored post is brought to you by airFair.
Buried under the news of Travis Kalanick’s dethroning, Uber has announced the (official) capability to order rides for others.
This sponsored post is brought to you by Moovit.


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Apple has been granted two new patents for its unannounced electric car. Under the codename ‘Project Titan’, Apple has obtained a patent for climate control and an enhanced vehicle situational awareness alert system in its vehicle.
Before closing out the year, Patently Apple has reported that Apple has successfully won two new patents for its electric car. The first is an advanced climate control system for controlling interior conditions within various regions within the cabin. The second is an enhanced vehicle situational awareness alert system, a system in which the car is able to obtain situational awareness to nearby vehicles and obstructions and relay that information to the driver.
Patently Apple points out that the patent for the climate control system was first discovered in 2017 before being published in 2018. This year, Apple was granted the patent. As described, the climate control system can determine optimal comfort levels within one or more cabin regions within the vehicle. It can then optimize temperatures based on the temperatures of occupants’ body, airflow, and humidity.
An onboard camera can monitor the temperatures of one or more occupants, where internal sensors will then communicate to the climate control system. Additional sensors can also monitor exterior wind conditions, humidity, and solar radiance on a window. This information can also be relayed to the control system to make appropriate adjustments.
The enhanced vehicle situational awareness alert system patent describes the system as being a way for the vehicle to relay pertinent information to the driver when in motion. The system can obtain information such as nearby vehicles and notify the driver via alerts.
What makes this particular system a bit more unique is that multiple facets of the car will interact with one another to alert the driver. For instance, sensors around the vehicle can recognize when another vehicle is nearby. It can then alert the driver via a display screen. Alerts can also be displayed on a screen to show emergency vehicles are nearby, notifying the driver that the vehicle should pull over.
The full patent document can be viewed for additional details.
Cyberpunk 2077’s new 1.1 update introduces a game-breaking bug – The Verge
Cyberpunk 2077’s big new 1.1 patch has introduced a game-breaking bug. Eurogamer reports that the “Down on the Street” quest appears to be broken for some players. The quest includes a holocall that’s supposed to trigger progress through the main part of Cyberpunk 2077’s storyline. Unfortunately, some players are reporting that the call remains silent, and it blocks progress of the game.
Developer CD Projekt Red has published a workaround for the issue, but it requires players to have an earlier save of the game to try to get the holocall to work correctly. Here are the steps:
- Load a gamesave before Takemura and V leave Wakako’s office
- Finish the conversation with Takemura outside the office right away
- Right after the finished conversation and when the quest was updated, skip 23h
- See if the holocall triggers and the dialogue with Takemura starts
Cyberpunk 2077 has been plagued by bugs since its release on December 10th, and CD Projekt Red has released three hotfixes to try to fix some of the early problems. Thankfully, most of the bugs and issues haven’t been game-breaking like the one players have discovered this week.
This new 1.1 update was supposed to be the first big patch to introduce stability improvements, not game-breaking bugs. CD Projekt Red is also planning another major 1.2 patch that is supposed to be a “larger, more significant update” that will arrive “in the weeks after” this latest 1.1 patch. It’s not yet clear if there will be a quick hotfix to resolve this latest issue, though.
Apple faces yet another class action suit over throttling iPhones – The Verge
A consumer advocacy group in Europe has filed the latest class action lawsuit against Apple saying the company intentionally throttled older iPhones in Italy. First reported by TechCrunch, the new lawsuit seeks €60 million (roughly $73 million) in compensation — or about €60 per device — for owners of iPhone 6, 6 Plus, 6S, and 6S Plus models sold in Italy between 2014 and 2020. Euroconsumers, an umbrella advocacy organization in the EU that includes Italy’s Altroconsumo, says the €60 compensation is the average amount consumers paid to replace their devices’ batteries.
“When consumers buy Apple iPhones, they expect sustainable quality products. Unfortunately, that is not what happened with the iPhone 6 series” Els Bruggeman, head of policy and enforcement at Euroconsumers, said in a statement. “Not only were consumers defrauded, and did they have to face frustration and financial harm, from an environmental point of view it is also utterly irresponsible.”
Euroconsumers filed two similar lawsuits in December on behalf of member orgs Test-Achats in Belgium and OCU in Spain. The group said in a press release that it plans a fourth lawsuit in Portugal.
“We have never — and would never — do anything to intentionally shorten the life of any Apple product, or degrade the user experience to drive customer upgrades,” an Apple spokesperson said in an email to The Verge. “Our goal has always been to create products that our customers love, and making iPhones last as long as possible is an important part of that.”
Apple agreed to a $500 million settlement in the US last March, after it admitted slowing down older iPhones. It compensated consumers who bought an iPhone 6 or 7, which were throttled to preserve battery life. The case grew out of the tech giant’s “Batterygate” controversy, when iPhone users discovered in 2017 that iOS limited processor speeds as iPhone batteries aged. Apple didn’t reveal to consumers that the feature — meant to address problems with phones’ performance — existed. Users said if they had known about the slowdown feature they would have simply replaced the battery rather than buying an all-new phone, as many did.
The company agreed to a second settlement in November — this time, with 34 US states —for an additional $113 million. The state attorneys general said Apple “fully understood” that by concealing the intentional slowing down of older phones, the company could profit from people buying new phones rather than replacing the batteries. Apple did not admit to any of the allegations in that settlement.
Update January 25th, 10:45AM ET: Adds comment from Apple spokesperson.
‘Cyberpunk 2077’ Issues Workaround For Takemura Phone Call Bug In Patch 1.1 – Forbes
Cyberpunk 2077 players have been disappointed with the scale of the recent 1.1 patch for the game, which felt more like a hotfix than a substantive improvement for all platforms. But soon enough, players began to run into a singular game-breaking bug that was introduced with the patch that halted their progress entirely.
In the Down on the Street quest, there’s a bug where Takemura calls you and then just…doesn’t say anything. It’s not just goofy, it kills all main quest progress and reloading the save won’t even get rid of it. You essentially can’t do much else after you hit this bug, which will soft lock your game.
Now, CDPR has an official workaround that I heard suggested previously, but now it’s official and being shared on their social media. But it has the catch that you need an earlier save that you may or may not have access to. Here’s the process, according to them:
- Load a gamesave before Takemura and V leave Wakako’s office.
- Finish the conversation with Takemura outside the office right away.
- Right after the finished conversation and when the quest was updated, skip 23h.
- See if the holocall triggers and the dialogue with Takemura starts.
Again, this requires a gamesave before you leave Wakako’s office, and since Takemura doesn’t call you until a full day later, it’s not a guarantee that players will even have a gamesave before that point, as quicksaves and autosaves get eaten up pretty quickly.
CDPR has said that they “plan to release a hotfix as soon as possible” but there is no date on that yet. My advice is to simply not play the game at all until they do so. Hell at this rate, my advice might not be to play the game until next fall.
The next scheduled patch (other than this emergency hotfix) is supposed to be for sometime in February. CDPR did indeed meet their promised January/within 10 days deadline for this first patch but of course…at the cost of the patch breaking the game. The next patch is supposed to be more substantive than this one, though that isn’t saying much considering this one did not feel terribly substantive, even if patching memory leaks is a difficulty process. On the players’ end, it just doesn’t seem like there’s much difference, and tons of bugs and performance issues remain, to say nothing of the big new bug this patch introduced.
This is going to be a long, long process, that much has been made immediately clear from how this is going so far. Again, it seems like the best course of action may be to set down Cyberpunk for a good long while and just experience it once it’s whole in however many months that takes. Stay tuned for more updates about this upcoming hotfix.
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As part of its effort to remake its higher education business, Pearson has struck a textbook rental deal with the National Association of College Stores subsidiary, indiCo.
Under the agreement, which goes into effect this fall, 50 Pearson titles will be available via a rent-only model from the 1,500 independent campus stores through indiCo. All titles will be available to rent for less than $100. To make it more affordable for stores to participate in the program, Pearson will sell the included textbooks on a consignment basis.
While students will be able to rent textbooks online, Bob Walton, NACS CEO, said he believes students will appreciate the chance to rent and return the books at the local campus store. “Rentals can provide a significant cost savings, but online returns can be a hassle. Additionally, it’s easy for students to select the wrong materials when shopping with online retailers.”
NACS remodeled indiCo this spring, making it a collaborative that an offers operational assistance to college stores in a bid to slow the loss of independent college stores.
After sustaining poor results in its North American higher education business in 2016, Pearson said in January that it was committed to finding ways to make its materials more affordable for students. In addition to its agreement with indiCo, Pearson has announced a series of new cost-cutting initiatives for students that will go into affect this year.
This article has been updated for clarity.


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Amazon’s advertising business hit $2.2 billion in revenue last quarter. It’s the global giant’s fastest-growing segment, at 132% year over year, compared to the company’s overall rate of 39%. Now there are reports that the company is planning to launch a new free, ad-supported video app to further boost its ad business by preying on the $70 billion TV advertising market.
The Information reports that the new service is tentatively called Free Dive, and the company is in talks with studios to license the rights for old TV shows. The company already has ad-supported shows on IMDb, has expanded video ads on Twitch, and runs ads during NFL games on Prime Video. It’s also expected to run ads on Prime Video in Europe for some sports broadcasts that it acquired rights to such as US Open tennis and some Premier League soccer games.
Of course Amazon is doing this. Why not? It has a thriving content business, the technology, and the brand relationships–the money is there for Amazon to take, especially if it can connect the dots between video ads and its exhaustive sales data. As Media Kitchen media buyer Andrew Sandoval told the Information, “Amazon has very good data and if I could track back sales activity to the actual Amazon account and target those people, it would be very powerful.”
Brands and agencies are already tossing more money Amazon’s way as it has expanded its ability for them to buy ads programmatically across its platform. This is yet another way for viewers to not only, say, see detergent ads between episodes of Small Wonder, but also for Amazon to continue its push to gain on Facebook and Google’s digital ad duopoly.


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TelcoSwitch product offering is addressing a burgeoning unified communications market
KSD Communications has become the latest telecoms firm to sign up as a TelcoSwitch reseller. TelcoSwitch is a wholesale telecoms platform provider offering its CallSwitch, SimSwitch, NetSwitch and SipSwitch products.
The TelcoSwitch service is delivered exclusively through a dedicated partner programme. The company entered the UK market last year, focusing on open standards in hosted telephony to deliver unified communications.
TelcoSwitch’s services and product suite are delivered exclusively through a dedicated partner programme.
Russell Lux, CEO of TelcoSwitch, said: “We offer a range of partner packages to suit all types of resellers, whether they require a ‘fully managed’ service or they have their own resources to implement our platform to their customers.
“KSD Communications has one of the most comprehensive product portfolios on the market today, offering its clients unique solutions that are individually customised to meet the specific demands of their businesses, so it is an important addition to our rapidly expanding network of resellers across the UK.”
David Boyd, KSD Communications, said: “We pride ourselves in finding the best solution tailored to our clients’ businesses and that is what makes the TelcoSwitch proposition so interesting for us. Not only are we now able to offer high quality cloud-based telephony, we are able to do so under a business model that will increase our revenue and our margin.”