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Virus or no virus, beverage giant Coca-Cola is sticking with China.
“We are here for the long term,” says Curt Ferguson, president of Coca-Cola Greater China and Korea.
“We’re here to invest. We’re here to build it.”
Despite the most fearsome epidemic of our times, Coca Cola sees China as its next biggest market, according to a report in CGTN.com.
Ferguson also lauds the quick and decisive action of the Chinese government in combating the coronavirus, as the company continues to invest in the country.
Coca-Cola recently reported its net revenues at US$37.3 billion in 2019, a nine-percent increase from a year before, the report said.
In its annual report, the company estimated an approximate two-to-three-point impact to unit case volume, one-to-two-point impact to organic revenue and one-to-two-penny impact to earnings per share for the first quarter, the report said.
“The situation with Covid-19 continues to evolve, and the company expects to provide more information during its next earnings call in April.”
China is Coca-Cola’s third largest market in terms of unit case volume. The company sees great opportunities in this important market and will continue to invest for long-term growth, Ferguson said.
“In getting the economy starting to grow again, we look at investing in growing our business in China. We are here for the long term. We’re here to invest. We’re here to build it. It’s going to be our next biggest business,” Ferguson told CGTN.
Meanwhile, he expressed gratitude to the first responders and the Chinese government.
“I just wanted to give our appreciation to all the first responders out there — the nurses and doctors that kept us all safe. You kept us strong.
“Thank you very much, to the government with your quick, decisive actions, once again, thank you. You’ve really controlled a worldwide epidemic and should be very much congratulated for all your hard work,” he said.
He stressed that the current difficulties will “make us stronger” in the long run, adding “on behalf of the Coca-Cola Company, we’re fully behind China. We pull this thing forward and really focus now on the growth engine, which is China and our system.”


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Sonos is a home audio firm specializing in wireless and multi-room sound systems and is often compared to Bose. The company sells a range of sleek, connected speakers, subwoofers, soundbars for TVs, and more, enabling people to build on their home audio collections. The company has benefited from a more significant shift to modern, connected devices that are often much smaller than their older peers.
Sonos stock struggled after its 2018 IPO. The stock then took off from the market’s coronavirus lows, alongside countless other tech stocks and consumer businesses that succeeded during rough conditions. SONO jumped from around $9 in March 2020 to over $15 by July.
In November, the stock skyrocketed after it crushed Q4 estimates and announced a new $50 million repurchase program. The stock made another huge leap following strong Q1 FY21 results in February. Overall, SONO is up 255% in the past year and 50% in 2021. The run includes a 20% fall from its mid-April records, with it down from $44 to $34.85 a share at the close Monday, which is a price tag some investors might consider cheap.
Playing SONO for near-term growth after earnings comes with risks, heightened by the recent volatility and tech selling. Yet, longer-term investors might want to consider the consumer technology stock for its ability to expand and stand out within an industry that’s growing louder.
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Prime Minister Imran Khan will make an announcement regarding a comprehensive economic package today. This will be done to protect the people and the economy of the country from the negative impact of coronavirus.
The Special Assistant on Poverty Alleviation Sania Nishtar revealed this. She said that the package envisions the Ehsaas emergency cash program under which a system of SMS has been developed to reach out to the poor people and help them in this critical time.
Furthermore, she said that the economic package will include support for the exporters, small and medium enterprises, daily wagers and farmers. Also, a package will be given to the Utility Stores Corporation to make sure that essential supplies will be given to the people at reduced rates.
Sania Nishtar responded to a question and said that the decision to call the army in order to control and ensure the lockdown was an essential step to implement the government’s advisories regarding the coronavirus. She said that the Pakistan Army, federal and provincial governments are working together to fight the coronavirus. As per the special assistant, people need to take precautionary measures to avoid the spread of the pandemic.
Media coordinator and junior editor at Research Snipers RS-NEWS, I studied mass communication and interested in social, local and community issues, I have 3 years experience in the media industry.


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In February, the court ordered Apple to pay a fine of $ 532.9 million for the misuse of the three patents the company Smartflash. After winning in court “patent troll” Texas filed a lawsuit again. As it turned out, the Korean Samsung has taken a number of measures that could allow corporations to avoid paying the Cupertino fine Smartflash.
Company Samsung, as well as a manufacturer of iPhone, also was involved in a legal battle with Smartflash. As it became known last week, the South Korean giant has appealed to the Office of Patent and Trademark United States to check whether the actual two of the three patents for which Apple has been charged.
Smartflash representatives insist on compensation for the use of patents without authorization when creating an online store iTunes. In particular, we are talking about technology patents relating to the storage of personal data and payment. The plaintiff asks the court to order Apple to pay interest on the sales of each smartphone, tablet and computer with access to iTunes.
Of course, Samsung has addressed to the Patent Office is not from a desire to protect the interests of Apple, but on its own grounds. However, this step will help a competitor potentially avoid paying huge fines.
The Supervisory Board of the Bureau of the Patent and Trademark United States has issued a preliminary verdict: the disputed patents Smartflash not describe specific inventions, and some abstract things. Thus, the chances of Apple to win are very high.
Established in the early 2000s Smartflash manages the rights to 7 patents of its founder Patrick Rata. In addition to Apple and Samsung company accused of violating its patents online to Google. Last tries to bring proceedings in California. Online retailer Amazon patent infringement lawsuit in Smartflash was presented in December last year.


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A teapot with no lid is a flower pot waiting to happen.
Such thrift store wisdom and a neverending hunt for bargains is drawing shoppers to the latest thrift store to open in east Windsor. The Community Thrift Store, in the former XS Cargo store on Enterprise Way off Lauzon Road, donates to a handful of charities as part of its business but it’s the deals that seem to attract shoppers.
“I think the most fun is getting something for next to nothing,” said Elaine Luppino on Tuesday.
Her 23-year-old daughter, Kayla Palesh, said some items even in thrift stores can get pricey and the two have travelled across the city a few times to the second Community Thrift Store in Windsor which opened in February. Palesh said items there are cheap, like a yard sale in a store. “Somebody else’s junk is somebody else’s treasure.”
Thrift stores that are a business and give to charities are not new but manager Karen Boughner said the two Windsor stores give back to the community in different ways. Last year the South Windsor store, formerly known as the Hope for a Cure thrift store on Dominion Boulevard, gave about $7,000 to the Canadian Cancer Society. She said it is about 20 per cent of the store’s net income. Customers donate food and cash through the store for the Windsor Homes Coalition food bank and the stores donate material for quilts to the seniors’ centre, she said. Through the community donations the stores also send coats to Coats for Kids and clothing and other items to Street Help. Christine Wilson-Furlonger of Street Help said she’s grateful to the stores which could have made money but donate good items to help the homeless.
There’s a pretty even mix between die-hards who travel to a number of thrift shops daily looking for something unique and lower-income folks who need to find furniture and clothing cheap, Boughner said. The stores compete by having specials and a standard price for items, say $9 for coats, instead of higher prices for name brand coats. The store recently had a couple of Coach purses sell for $20 each. “It’s a treasure hunt. You never know what you’re going to find.”
Shop often and be decisive. Don’t leave your newfound treasure in your cart unattended or wait to ask your spouse because good items sell quickly. The best variety comes in the stores in the fall after yard sales end.
Donate. The Community Thrift Store won’t take mattresses, sofa beds or pianos but can use lots of your discards. The east-end store has a drop off area and offers free pickups (519-945-2455).


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The CCI innovation ranking is published regularly by the Center of Automotive Management (CAM), a Germany-based independent institute for empirical automotive research. "The established manufacturers from Europe and the USA are increasingly facing competition from rising stars from China in the field of Connected Car technologies," comments CAM Director Stefan Bratzel. "In some cases, they not only catch up, but can often even increase their innovations. Manufacturers from Europe, Japan and the USA are coming under pressure from the new Chinese players and are now having to catch up enormously in development.
According to CAM analysis, the number of Connected Car innovations (CCI) in the areas of assistance and safety systems, operating and display concepts, and information and communication systems in 2018 remains at the previous year's level with 649 innovations. CCI innovations accounted for more than 53 percent of all innovations made by automakers worldwide. The Chinese carmakers in particular were responsible for this level: Without their innovations, the number of innovations would have fallen from 543 to only 507, which would have meant a decline of almost seven percent compared to the previous year.


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A NEW version of the all-electric Volkswagen ID.3 hatchback has been revealed and it comes with a fresh look and updated software.
The facelifted model - VW's first and smallest EV - is one of 10 new electric models it will be releasing by 2028.
First launched in 2020, the ID.3 has been given a fresh face with a new-look nose that includes a revised bumper, a bonnet that appears longer and better aerodynamics around the front wheels.
At the rear, there are now two-part tail lights while inside the car the quality of materials has been improved and latest generation assist systems have been fitted.
The new ID.3 comes with VW's latest software generation which has improved performance and is able to receive over-the-air updates.
A compact driver display with a 5.3-inch is operated from the multifunction steering wheel while the centre of the dash has a 12-inch screen for the navigation system, telephone functions, media, assist systems and vehicle settings.
Improvements to the car's software sees electric vehicle route planning incorporated to show nearby charging stations while an optional Travel Assist system with swarm data is also available which allows the car to travel in its lane if only one road lane marking is visible such as on country roads.
The new car is expected to go on sale in late spring and while there is no word on prices it is expected it will show a slight increase over the current model taking it to around £41,000.
Kai Grunitz, member of the VW brand board of management responsible for development, said: "With the new ID.3 we are bringing premium technologies into the compact class - in line with our Volkswagen goal of successively offering innovations in the whole model range.
"This is also reflected in the latest-generation convenience and assist systems in the ID.3. By using swarm data in the Travel Assist system, we are taking the next step on the path to highly automated driving."


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Addy Awards draw 425 entries
The Pittsburgh Advertising Federation received 425 entries from local advertising agencies for the upcoming annual Addy Awards. This is the first step in a three-tiered creative competition conducted annually by the American Advertising Federation.
“It’s up,” said Rob Deaner, AdFed president and a partner at Market Street Sound. “Last year we had just under 400. I think the agencies are more active: 2013 was a good year across the boards from what I’m hearing and people did a lot of work they feel is worthy and wanted to participate. And the past couple of years, we’ve had a really good show with good judges and good turnout so people are more excited about the process.”
The entries will be evaluated by judges from outside the region later this month. The Addys are scheduled for Feb. 28 at the Carnegie Science Center on Pittsburgh’s North Side.
Patty Tascarella covers accounting, banking, finance, legal, marketing and advertising and foundations. Contact her at email@example.com or 412-208-3832. .
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September 14, 2021
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Reducing sugar intake has become one of the key tenets of improved health and wellness for consumers in recent years, with 95% of global shoppers believing that reducing sugar makes foods seem at a least somewhat healthier. But just because they understand that reducing sugar means healthier products (in general), doesn't mean that they are not accepting of it in certain situations.
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During the last 25 years, about 7% to 9% of small businesses close each year on average—slightly less than the number that open—according to LendEDU. Among the reasons small businesses close, access to credit is becoming less of an issue in why a business closes compared to during the Great Recession: only 5% of businesses closed in 2015 because of lack of credit compared to 14% in 2007.
The democratization of financing due to the expansion of the types of players and credit product options has its pros and cons, but one thing is clear—anyone can lend today. How? Data.
While lending to consumers is straightforward enough in terms of access to massive behavioral and transactional data on a number of platforms of different types—e-commerce, internet companies, social media platforms (Facebook alone tracks 98 personal data points for each of its 2.19 billion monthly active users to target ads), etc.—successfully lending to small businesses at scale is a much more complex task. While SMEs represent over 90% of the business population, 60–70% of employment, and 55% of GDP in developed economies, financial institutions have difficulty addressing the needs of this market.
According to the Biz2Credit Small Business Lending Index, small-business loan approval rates for big banks were at a record high of 27% in January 2019. With big banks denying the vast majority of small-business loan applications, the role of other lenders becomes increasingly important. For example, small-bank approvals were at 48.9% in January 2019. Institutional lenders were approving 65.1% of small-business loan applications, and institutional lenders were approving 65.1% of the applications in January 2019.
Small businesses overlooked by traditional lenders have created an opportunity for outsiders to fill the niche. In fact, the loan approval rate among alternative lenders was at 57.3% in January 2019, which is a slight jump from December 2018.
But even alternative lenders found their match—the new power players in small-business lending are potentially massive e-commerce platforms. Among the reasons that companies like Amazon are the most natural winners of SMBs is because marketplace-SMB relationships are (almost) a win-win.
The power of any marketplace is in the scale and success of its members. There would be no Amazon marketplace without thousands of companies—big and small—and micro-merchants bringing their business into the world of Amazon. Amazon marketplace contributes $135 billion globally to Amazon’s own sales. By some estimates, the marketplace will have grown to $259 billion by 2020.
If we were to take the smallest members of the marketplace, Amazon is still impressive in its scale—there are 100,000 sellers with $100,000 or more in sales a year on the Amazon marketplace. About 19% of Amazon professional merchants are estimated to have brought in more than $1 million in sales in 2018. In 2017, Amazon made $1 billion in small-business loans to more than 20,000 merchants during a 12-month period in the US, the UK, and Japan.
While a fairly significant portion of merchants sells with other marketplaces too (eBay, own website, Walmart, Shopify, physical stores, Rakuten, AliExpress, etc.), nearly 50% are estimated to be selling almost exclusively with Amazon, with revenue from the massive e-commerce marketplace accounting for 81–100% of their sales.
It’s a natural extension of any merchant acquisition strategy for a marketplace to offer merchant financing. Marketplaces are better positioned to do it at scale as well as more successfully than financial institutions because marketplaces have complete visibility into the merchants’ online operations—sales, dynamic, customer relationships, disputes, cash flow, inventory performance, and its evolution—no financial institution is that deep into operational efficiency and performance when it comes to small-business loans.
Marketplaces have the opportunity of not just providing all the tools for a merchant to run an online business, but they also get much more in return—the precious data from every aspect of a merchant’s online operations. By pooling merchants’ performance data with consumer behavior analytics, marketplaces can be much more accurate in targeting (hence, successful conversions), risk assessment, and management, and, ultimately, in better loan recovery.
Some professionals fairly note that banks tend to provide personalized services for a few high-value customers or automate services for a mass consumer market—and SMEs don’t fall into either. Their size doesn’t make them any less complicated than any other business, but financial institutions are just not as keen to invest effort in understanding the needs and circumstances of small businesses and take an unproportionate risk. Estimates shared by FT suggest that globally, there is at least a 2-trillion-dollar gap between small-business demand for financing and what financial institutions are willing to provide.
There is another side to the mismatch. Some estimate that only 10% of all small businesses have up-to-date and accurate accounting information. This means that 90% of small businesses are unable to produce dependable financial statements when required for an application at an institution.
Marketplaces have full and deep visibility into merchants’ financial performance on their platforms, eliminating the need for any resource-consuming reporting function for a merchant to demonstrate its trustworthiness. The marketplace already knows whether it’s true or not. Baidu, for example, uses big data, machine learning, and facial recognition technology to help it vet a borrower’s eligibility for its loan. Borrowers make repayment of the loans through its mobile wallet payment application.
“If you look at the small-business hierarchy needs, they need access to cash (and) funds; they need time, and they need more sales. And what if you were able to provide an efficient system that gave them more time to do all their work, access to capital, and something that boosts their sales line? You could see how that player could win over a traditional player or even a new FinTech.” – Karen Mills, 23rd Administrator of the US Small Business Administration (SBA)
Mills, who served as the 23rd Administrator of the US Small Business Administration (SBA), believes that the tech giants would probably push to disrupt the market and deal a blow to established lenders: “I think they are going to dominate the market, and that is the next phase that’s coming,” said Mills. "If you think about what Amazon already knows about its merchants, and then you think about what Google knows about everybody who is buying and selling through its platform, one can imagine a world where they have much more information about both on the credit side but also on the small business itself.”
“The online retailer, which in 2017 shipped 5 billion+ packages through its Prime program, is looking for hundreds of entrepreneurs with little to no logistics experience to set up their own delivery businesses—complete with Amazon-branded vehicles and uniforms,” the Washington Post reported. Amazon will help keep startup costs to about $10,000 by offering discounts on vehicles, uniforms, fuel, and insurance coverage. Amazon is also setting aside $1 million to help military veterans interested in starting their own delivery businesses.
In India, in June 2018, Amazon went as far as launching Seller Lending Network, further scaling its Seller Lending program (launched in 2016), to offer sellers on Amazon.in loan options from multiple third-party lenders. With this launch, a seller can view multiple loan offers, apply for loans and make easy/automatic loan repayments by linking their Amazon sale proceeds to their loan account—all on Amazon’s Seller Central portal. Amazon launched in India in June 2013 with a few hundred sellers, and currently, over 340,000 sellers are selling on the marketplace. These sellers have listed over 170 million products on Amazon.in that get purchased by customers residing across all serviceable PIN codes in India. More than 50% of the 340,000+ sellers on Amazon.in are from non-metros. A total of 90% of the sellers on the marketplace use Amazon.in’s logistics and fulfillment services.
Internet/e-commerce companies are equally well-positioned to drive small-business lending in different parts of the world, but the scale differs widely. Baidu’s microfinance unit, for example, last year applied for a quota to raise up to $602 million through issuing a form of securitization, called an asset-backed note, in China’s interbank bond market. Chongqing Baidu Micro Finance is licensed as a non-bank microfinance company. In China, these companies have been filling the gap left behind by banks in lending to underserved segments, such as micro-enterprises and SMBs.
A number of technology/internet companies are entering the SME lending scene, and at this moment, they are perfectly well positioned to become the primary form of a small-business lender, taking a whole market off the hands of not only financial institutions but also alternative lenders.
It’s also reasonable to assume that tools such as Stripe Atlas, Holvi, and Estonia E-Residency for registering & running a business will play a significant role in reshaping small-business lending. Through integrations with marketplaces? By launching their own marketplaces? Who knows, but today they are going far beyond the lines of credit, enabling small businesses to focus on delighting their customers rather than drowning in intricacies of invoice management, vendor management, fraud prevention, etc.
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United Breweries saw a stable set of earnings in Q1. In an interview to CNBC-TV18, Shekhar Ramamurthy, MD of United Breweries spoke about the results and his outlook for the company.
Q4 was impacted by demonetisation and anticipation of the highway ban on liquor. Highway ban has had a severe impact in a few states, he said.
Our shares are very strong, our premium brands are doing well that initiated very measures to control our cost so all that is coming together, that is why you are seeing growth in both revenues and margins, he added.
25 percent of outlets across the country are still closed. It will become clearer in the next three-six months, which way the margins will go, said Ramamurthy.
Talking about the impact of highway ban on volumes, he said he needs to assess the impact going ahead.
According to him, industry will start seeing mid-single digit growth. 5-6 percent of industry growth is expected going forward. “We hope to grow a little bit ahead of that,” he added.


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With more than 270,000 stickers, Stipop’s library of colorful, character-driven expressions has a little something for everyone. The company offers keyboard and socialapps on iOS and Android. Still, it’s recently focused more on providing stickers to developers, creators, and other . “We were able to gather so many artists because we began as our . The team took what they learned from — namely, collecting and licensing hundreds of thousands of stickers from artists worldwide is hard work — and adapted their business to help solve that problem for others.
Stipop was the first Korean company to go through Yellow, Snapchat’s exclusive accelerator. The company is also2021 cohort. Stipop’s sticker library is accessible through an SDK and an API, letting . The company already hasovern 200 companies that tap into its colossal sticker trove, offering a “single-day solution” for a process that would otherwiserequiree much more legwork. Stipop launched a website that helps and API through quick installs. “They can just add a single line of sticker feature [so] to spice up their chats,” Park said.
Park points out that stickers encourage engagement — and for social software, engagement means growth. Stickers are a playful and forth in chat, but they also pop up in several less apparent spots, from dating apps to e-commerce and ridesharing apps. Stipop even drives the sticker search in the work collaboration software .
The company has partnered with Google, which uses Stipop’s sticker library in Gboard, Android Messages, and Tenor, a GIF keyboardbought in 2018. That partnership drove 600 million sticker views within the first month. A new collaboration between Stipop and Coca-Cola on the near horizon will add Coke-branded stickers to its sticker library. The its doors to more brands that understand the unique appeal of stickers in messaging apps.
Park star artists, regional themes, and original casts of characters that take on a life of their own among fans. “Sticker creators have their profession,” Park said. Visual artists can stickers, even without sophisticated illustrations. And rather than refinement, non-designers, and less skilled artists can craft hit stickers, too.tend to compare stickers and gifs, two ways of wordlessly expressing emotion and social nuance, but stickers are a world unto themselves. Stickers exist in their creative universe, with
“Stickers are great for them because it [is] so easy to go viral,” Park said. The company has partnered with 8,000 sticker creators across 25 languages, helping those artists monetize their creations and generate income based on how many times a sticker is shared. Stickers command their visual language worldwide, and in how people use them to communicate. In the West, the meaning of the text. In East Asia, users prefer simple stickers, but in India and Saudi Arabia, bright, golden stickers top the trends. In South America, popular stickers take on a more pixelated, unique quality that resonates culturally.


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East Granby, CT -- (SBWIRE) -- 04/09/2015 -- Picking Perfection newsletter reported that, the recent issue of Manufacturing.net, Curt Schmidgall, Winegard Value Stream Manager, shared the lean continuous manufacturing model has surged in popularity over the last 20 years because of its ability to eliminate waste of all kinds: excess inventory, over-transportation, and unnecessary movement and motion. However, the most significant results from implementing this model come not from discrete changes to certain products or processes, but from incorporating the entire company into the lean continuous model journey. In traditionally structured companies, the engineering, manufacturing, and sales departments work in their own silos, in different groups and often in different buildings. As a result, these departments communicate little with each other, and each group makes the decisions that support their own self-interest.
Pcdata USA believes to succeed with lean manufacturing, a company should be reorganized by a value stream. This structure means the company is split up into smaller companies, with each "company" focused on specific markets and customers. Each company consists of engineers, manufacturers, and salespeople sitting together and working in close proximity on how to design, order and sell a product that best serves the customer.
Picking Perfection, a weekly e-newsletter, sponsored by Pcdata USA shares methods, modes, and tools used in a variety of industries. Picking Perfection brings important and interesting information to those in the material handling, warehousing, distribution, and manufacturing sectors.
From best practices to industry data, this weekly communique reports trend data, process improvement, and technology evaluations about picking, packing, shipping and profitability.
Subscribe to Picking Perfection: http://bit.ly/W3oHOs
Pcdata USA Pick-to-light systems are part of a lean process, offering shorter throughput times, fewer errors, significant cost savings; additionally the result is increased customer satisfaction, a faster ability to supply products, and process transparency. Traditional picking methods are one of highest expenses when operating a warehouse. Pcdata USA lowers that cost through leading edge Pick-to-light systems. Pcdata USA installation versus implementation products are experiencing huge growth in hundreds of business sectors throughout North America.
About Pcdata USA
Pcdata USA is a global logistics systems leader for supply chain automation. Pcdata USA was recently named a Finalist for the 2015 MHI Innovation Award for Best New Product: SmartGlass AR (Augmented Reality). Pcdata USA (http://www.pcdatausa.com/contacts/contacts-us) is a global logistics systems leader for supply chain automation. Pcdata USA offers affordable out-of-the-box warehouse optimization solutions. Contact Pcdata USA at (855) 844-1086. Follow Pcdata USA on Twitter @pcdatausa.


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Emerging technology to help solve business problems
GITEX Technology Week 2017 will run the theme "Re-Imagining Realities: Discover, Transform and Innovate"
Attendees to the 37th edition of GITEX Technology Week will experience and discover how converging technologies and disruptive business models will solve problems in daily lives and businesses.
The UAE-based and international technology companies, governments, startups via the new GITEX Future Stars startup confluence, and futurists will showcase how innovations from artificial intelligence (AI), to blockchain and virtual reality -- are transforming the lives of communities around the world.
According to IDC, the technology investment market opportunity is strong, as evidenced by the digital transformation economy's growth projection of 60% from 2016 to $2.2trn by 2019.
IDC said innovations such as artificial intelligence, augmented and virtual reality, and digital platforms such as 5G and the Internet of Things, will make the biggest business impact, according to research firm Gartner.
Enabling Middle East and global digital transformation, GITEX Technology Week 2017 will run under the theme "Re-Imagining Realities: Discover, Transform and Innovate."
The over-arching vision of "GITEX is Everything Tech" will showcase 17 specialist technologies, including blockchain, artificial intelligence, drones, robotics, 3D printing, and the Internet of Things.
The major emphasis this year will be on how emerging technologies can solve practical problems -for example, how autonomous vehicles can ease traffic, how artificial intelligence can enable predictive government services, and how virtual reality can enhance surgery and education, all ultimately resulting in happier and smarter experiences.
Attendees will also have the opportunity to gain critical insight from more than 80 global practitioners in eight Power Conferences. The eight verticals being tackled are smart cities, healthcare, digital marketing, finance, retail, transport & logistics, tech leaders, and education.


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On the occasion of the 30th anniversary of the Single Market, the EESC held a debate about the future of the world's largest trading bloc with Commission Executive Vice-President Margrethe Vestager. The Single Market is widely considered the EU's greatest achievement, but has also shown its limitations in the face of current crises.
Stručna skupina za jedinstveno tržište, proizvodnju i potrošnju (INT) - Related News
Tougher legislation to combat greenwashing and built-in obsolescence along with expanded repair services and better product information can help consumers contribute to the green transition, European Economic and Social Committee (EESC) and European Commission leaders said during an event held on 17 November to commemorate European Consumer Day.
Once again, today we must sadly commemorate those who are sacrificing their lives for democracy. ...
by Alain Coheur, president of the INT section
A post-pandemic industrial strategy to ensure a strong recovery must include civil society, stresses the EESC in a newly adopted report on the draft new EU industrial strategy. It must focus on sustainability and wellbeing, measure social impacts and promote an efficient, accessible healthcare system.
The European Economic and Social Committee (EESC) welcomes the proposed new package of EU cybersecurity measures but points to weaknesses in addressing Europe's huge cyber skills gap. Critical entities also need streamlining, simplification and clearer application guidelines, in the EESC's view.
The COVID-19 crisis has created the conditions for circular products and services to become the norm in Europe, says the EESC. In a recent opinion on the new EU Circular Economy Action Plan, the EESC urges lawmakers to ensure the circular economy finds a place and resources in the overall "greenprint" for Europe's recovery.
Biometric recognition for tracking, surveillance and detecting emotions should have no place in Europe's human-centric approach to Artificial Intelligence (AI), says the European Economic and Social Committee (EESC) in its response to the European Commission's White Paper on AI, adopted by the EESC plenary on 16 July.
For the first time, we now have a real strategy that can help Europe re-assert its industrial sovereignty, says the EESC in its newly adopted opinion on the proposed
New industrial strategy for Europe. What is still needed is a clear action plan with practical short-, medium- and long-term measures to achieve its goals.
The coming years will see new prospects and challenges for European products and services, according to the European Economic and Social Committee (EESC). Providing innovative, highly specialised products and services with well-recognised and certified key characteristics can boost European competitiveness, says the EESC.
A delegation of members of the European Economic and Social Committee (EESC) visited three Finnish technological hubs to assess the potential benefits and dangers of artificial intelligence for our society. They stressed that all future developments must encompass three pillars: product safety, consumer trust, and solidarity in health and social care.
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America’s love affair with e-cigarettes evaporated quickly as millions of users were recently confronted with unnerving news—their vapes could actually contain toxic chemicals powerful enough to be deadly.
The CDC issued words of caution on September 27, “Anyone who uses an e-cigarette or vaping product should not buy these products off the street.” The sentiment is clear—consumers need to avoid e-cigs from potentially shadowy manufacturers and distributors fed by an unregulated supply chain.
Duty to the Consumer
E-cig manufacturers have a responsibility to pinpoint precisely what in their products is harmful, just as distributers must be confident they are only carrying reputable items that are sourced through a responsible supply chain. Many vaping products have been found to contain illegal synthetic marijuana, even when consumers believed they were buying THC-free products such as CBD pods.
In an industry as young and unregulated as e-cigs, it’s not surprising an unknown health consequence was lurking on the horizon. Consumers had no idea what ingredients or manufacturers to be wary of because no one yet knew there was a concrete hazard.
Liz Mantovani, CSP, CSMP, C3PRMP, Director of Operations, SIG


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#Key Business Issue l 2021-02-22
South Korean battery maker LG Energy Solution has defeated its domestic rival SK Innovation in a battery dispute that has lasted for nearly two years. On February 10th, the U.S. International Trade Commission or ITC made a final ruling in favor of LG, which accused SK of stealing its trade secrets.
The legal dispute drew international attention as it is an unusually large-scale one between Korean companies. On top of that, it is related to electric vehicle batteries that have emerged as one of the next-generation growth engines. Obviously, the ITC ruling has given LG an upper hand while putting SK in an unfavorable position.
Here is Kim Dae-ho, director of the Global Economic Research Institute, to discuss how the battery battle between the two Korean firms may evolve after the ruling.
LG and SK have long been mired in a battery patent infringement dispute. In its recent ruling, the ITC supported LG’s claims that SK had stolen trade secrets related to battery tech by hiring ex-employees of LG.
The U.S. trade panel banned SK from importing batteries and related components to the U.S. for ten years. But the trade commission allowed SK to continue to import battery components for a limited time for U.S. operators of Ford Motor and Volkswagen. This is so the U.S. automakers can find other battery suppliers. Accordingly, SK can import components for production of battery products for Ford Motor for four years and Volkswagen, for two years.
Although SK has lost the case, it is still pinning its last hope on U.S. President Joe Biden, who could choose to reverse the ITC ruling. The governor of Georgia, where SK is constructing its battery plants, has actually called for President Biden to exercise a veto against the ruling.
Electric vehicle batteries are one of the sectors Biden pushes to promote, in line with his stance to boost eco-friendly businesses. A halt to SK’s business operation in the U.S. for ten years will affect electric vehicle makers and other environment-related industries in the States. In this vein, Biden could decide to overturn the ITC’s decision. Also, SK’s battery business has a tremendous effect on job creation in the state of Georgia. Considering SK’s contribution to the regional economy in Georgia, Biden may go against the ITC’s ruling that would lead to the loss of many jobs.
However, it is widely believed that Biden will not veto the ruling. The Biden government puts pressure on China by taking issue with intellectual property theft and forced transfer of technology. In this situation, it will not find it easy to make a decision that might seem to support SK’s trade secret infringement.
If Biden does not override the ITC ruling, SK will be left with two choices. It may proceed with legal procedures to appeal the ruling or sit with LG for negotiations. A long-drawn-out legal battle will pose a considerable financial burden on both companies, and it seems more appropriate for them to reach a compromise. But the two sides appear to be far apart from each other on the amount of settlement money.
There are two stumbling blocks in the way of their compromise. First, the question is whether the two companies will agree on the settlement amount. While the companies do not reveal specific figures, industry sources say that LG is asking SK to pay a few billion dollars in compensation, while SK is offering hundreds of millions of dollars.
Apart from the big gap in the amount of financial settlement, the legal battle is about both companies’ pride and credibility. They have advocated their own claims so far. If one side surrenders, its main businesses, including batteries, will be hit hard and will negatively affect consumers. The key is whether they will be able to hammer out an agreement that would protect the pride of both companies.
The two companies also have different interests on how quickly the dispute will be settled. For LG, it is desirable to end the dispute promptly because it can wrap up the negotiations in a strong position. But SK is different. Having missed the chance to win, it has to accept unfavorable negotiating conditions for now.
A grace period of up to four years was granted for SK’s U.S. clients. That means the company can do its business in the U.S. for up to four years, even if Biden does not veto the ruling and SK fails to come to an agreement with LG. If SK chooses to appeal the ruling, it can postpone the recent ITC decision until additional legal proceedings end. The ban imposed by the ITC prohibits SK from importing lithium-ion battery products to the U.S. If SK produces new batteries based on its own technology, the situation will be different. Given that, SK doesn’t have to rush. SK may take a hard-line stance toward LG, saying that it will not agree on a settlement unless it is given a proper escape route without losing face.
A prolonged deadlock in negotiations between LG and SK will inevitably deal a blow to the Korean battery industry. Three Korean battery makers, along with Samsung SDI, accounted for 34.7 percent of the global market last year. But Chinese and Japanese makers are desperate to eat into the Korean firms’ global market share. Meanwhile, the European Battery Alliance is seeking to become self-sufficient in battery production within the region.
With the global electric vehicle battery market estimated to reach 200 billion US dollars in 2030, a drawn-out dispute between Korean companies will only please their foreign rivals.
The fight between LG and SK will only benefit Chinese and Japanese battery makers. Having started the battery business relatively early, South Korea is ahead of others in technology, but the technological gap is not very big. If Korea is off guard, the situation could be reversed at any time. Japan, in particular, is following this dispute closely. The two Korean companies should put an end to this internal feud and settle the matter from a broader point of view. I think it would be ideal for the top management of the two companies to reach an agreement.
Batteries are regarded as the future growth engine, following semiconductors. In Korea, expectations are running high for the so-called “K-battery alliance” consisting of three battery producers such as LG, SK and Samsung, and automaker Hyundai Motor and its affiliate Kia. At least for the successful collaboration between battery manufacturers and the carmakers, we hope that LG and SK will make a strategic decision based on long-term and future-oriented thinking.


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Mobily Introduces mView, Video Service for Movies and TV Channels
Mobily introduces the mView service for all internet users to allow watch online free and paid channels, not only from computers but also from mobile devices and Android and iOS tablets, said a statement. Clients can enjoy the all channels on monthly membership for SR 35 ($9) and the on-demand movies, whereby a customer chooses a film to watch, starting from SR 7 each.
They can additionally customize the plan as per their choice and interest, it said. Contingent upon various propelled innovations that guarantee service continuity as per the internet connection speeds, Mobily allow its customers to enjoy this service on five different devices including computer, Android and iOS smartphones and tablets.


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Twenty two years ago, General Motors unveiled its all-electric car, the EV1, at the Los Angeles Auto Show on January 4, 1996. What better time to look back at how far the technology has come — and consider whether we are finally on the brink of acceptance on a worldwide scale.
The first-generation EV1 had a 16.5kWh battery pack good for 60 miles per charge. It’s list price was $33,995, but was only available to lease, not buy. Between 1996 and 1999, GM built 1,117 EV1 vehicles. But, by 2003 GM pulled the plug on EV1s, no longer offering them for lease and destroying any that remained.
In some respects, the EV1 was ahead of its time. The car, in spite of its 1996 creation date and futuristic 1990s design, was remarkably comparable to the electric cars released in the early 2010s. Later models of the EV1 could accelerate from 0-60 in about 9 seconds and go up to 90 miles per charge, roughly the same as the first-generation 2011 Nissan Leaf. The late 1990s and early 2000s also saw the electric Honda EV Plus (available only via a lease), which paved the way for the first Insight hybrid.
2017 marked another big milestone for electric cars as Tesla and GM went head-to-head to bring the first mass-market electric car to the public in volume. Previously known for electric vehicles with a six-figure price tag and wow factor, Tesla rolled out the Model 3, starting at $35,000. GM marked its commitment to electric vehicles with the introduction of the Chevrolet Bolt EV. Each vehicle has a range of approximately 200 miles per charge.
Fast forward to present day and nearly all major automakers are planning to electrify their fleets, with many scheduled to introduce multiple EVs by the early 2020s. Fewer automakers will introduce new hybrids.
Bloomberg quoted an executive at research firm LMC Automotive as saying,
How long have we been talking about EVs? We’re now finally seeing them in numbers, but the sales numbers are not taking over the industry by any means.
To date, the vast majority of car shoppers have preferred fossil fuels to electric. The reasons range. Some find gas and diesel easier on their wallets. Others prefer the purr of an engine. For many, there’s comfort in the way things have always been. As nationwide charging infrastructure takes shape and countries begin the process of phasing out gas and diesel, widespread EV domination is all but inevitable.
There’s no denying that electric cars are gaining momentum.
Will 2018 be the tipping point for mainstream adoption of EVs?
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TIMBO, Colombia: … in the last few years, coffee yields have plummeted here and in many of Latin America’s other premier coffee regions as a result of rising temperatures and more intense and unpredictable rains, phenomena that many scientists link partly to global warming.
Coffee plants require the right mix of temperature, rainfall and spells of dryness for beans to ripen properly and maintain their taste. Coffee pests thrive in the warmer, wetter weather….
Purveyors fear that the Arabica coffee supply from Colombia may never rebound “” that the world might, in effect, hit “peak coffee.”
Climate-driven food insecurity is helping drive global political instability, as explored in my ongoing series. But it may take a while for the direct impact of higher food prices to be noticed by Americans, since, for instance, wheat comprises only a few percent of the cost of a loaf of bread.
The New York Times article, “Heat Damages Colombia Coffee, Raising Prices,” shows that climate change doesn’t just hit the staples: “The shortage of high-end Arabica coffee beans is also being felt in New York supermarkets and Paris cafes, as customers blink at escalating prices.” It is unusually clear on the impact of global warming:
“Coffee production is under threat from global warming, and the outlook for Arabica in particular is not good,” said Peter Baker, a coffee specialist with CABI, a research group in Britain that focuses on agriculture and the environment, noting that climate changes, including heavy rains and droughts, have harmed crops across many parts of Central and South America.
A top coffee scientist, he has rattled trade forums by warning, Cassandra-like, of the possibility of “peak coffee,” meaning that, like oil supplies, coffee supplies might be headed for an inexorable decline unless growers make more concerted efforts to expand production globally.
The Specialty Coffee Association of America warned this year, “It is not too far-fetched to begin questioning the very existence of specialty coffee.”
Obviously, the threat from global warming to specialty coffee would hardly be among the top 100 most worrisome impacts the world faces if we stay on our current path of unrestricted greenhouse gas emissions (see “A stunning year in climate science reveals that human civilization is on the precipice”). But the relatively delicate Arabica does appear to be yet one more canary in the coal mine for what’s to come:
Arabica and Robusta coffee account for virtually all consumption. With its more delicate taste and lower caffeine content, Arabica is more popular and more expensive, though generally more finicky in its weather needs. Robusta production dominates in Asia and Africa.
Colombia is the No. 2 Arabica exporter after Brazil, where production is centered on larger, more mechanized farms and continues to grow.
The Colombian Coffee Growers Federation says high fertilizer prices have also dented yields. But it agrees with a 2009 report from the International Coffee Organization that concluded, “Climatic variability is the main factor responsible for changes in coffee yields all over the world.”
Average temperatures in Colombia’s coffee regions have risen nearly one degree in 30 years, and in some mountain areas the increase has been double that, says Cenicaf©, the national coffee research center. Rain in this area was more than 25 percent above average in the last few years.
At the new, higher temperatures, the plants’ buds abort or their fruit ripens too quickly for optimum quality. Heat also brings pests like coffee rust, a devastating fungus that could not survive the previously cool mountain weather. The heavy rains damage the fragile Arabica blossoms, and the two-week dry spells that prompt the plant to flower and produce beans occur less often, farmers say. Arabica beans take about seven months to mature.
“Half a degree can make a big difference for coffee “” it is adapted to a very specific zone,” said N©stor Ria±o, a specialist in agroclimatology for Cenicaf©. “If temperature rises even a bit, the growth is affected, and the plagues and diseases rise.”
Imagine what will happen when temperatures change by several degrees, as seems all but unavoidable now (see M.I.T. doubles its 2095 warming projection to 10°F “” with 866 ppm and Arctic warming of 20°F).
- S. Korean President: “There is an increasing likelihood of a food crisis globally due to climate change.”
- Half of world’s population could face climate-driven food crisis in second half of the century; Science study warns: “Ignoring climate projections at this stage will only result in the worst form of triage.”


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Grocery Delivery Startup Hungryroot Boosts Value to $750 Million
(Bloomberg) -- Hungryroot, a startup offering personalized grocery delivery, completed a funding round that brings its valuation to about $750 million, according to a person familiar with the matter, as interest in online food shopping remains elevated during the pandemic.
The company raised $40 million in Series C financing, Hungryroot said Friday, bringing its total fundraising to $75 million. The latest round was led by L Catterton, a private-equity firm that has invested in companies including Function of Beauty and Savage X Fenty.
Hungryroot uses artificial intelligence and user questionnaires to tailor its delivery services. The company, started in 2015, combines grocery and food delivery by offering ingredients as well as suggesting recipes and providing meal plans.
Ben McKean, Hungryroot’s founder and chief executive officer, said demand for the company’s services has been particularly strong over the past year. “Every single month has been better than the last month in terms of revenue, in terms of retention, in terms of acquisition,” he said in an interview.
The company plans to use the new funds to expand from about 300 grocery items available each week to 3,000 over the next three years, McKean said. It’ll also invest in new technology to improve its algorithms.
With the current sales growth trajectory, McKean said the company would consider going public, potentially in the next 18 months.
“This year, we’ll do $175 million, next year we expect to do over $300 million and maintain our profitability,” he said. “At that point, the public market is certainly an option that we’re going to be considering.”
©2021 Bloomberg L.P.


text: The automotive industry is facing one of the greatest challenges of the last decades. One the one hand, European regulators are pushing to lower CO2 emissions of cars with internal combustion engines as much as possible, while on the other hand, the dynamic development of electromobility forces manufacturers of cars and automotive parts to invest in a completely new market segment. MEPs and representatives of Polish automotive parts manufactureres discussed this issue in Brussels during a meeting hosted by SDCM (Association of Distributors and Manufacturers of Automotive Parts). A representative of Lumag also attended the meeting and presented the position of SDCM. In his address he stressed the need of jointly combating air pollution in cities by lowering CO2 emissions, but not at the expense of innovation in other areas of the automotive market, which also influence emissions, like electromobility.


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Conservative investors can refrain from investing in Tara Jewels, an exporter and retailer of gold and diamond jewellery, during its initial public offer. Tara Jewels does have a few factors going for it — a strong client base, quick ramp-up of retail stores, cheaper metal alloys that could prop demand in an environment of high gold prices and healthy margins.
But the offer band of Rs 225-230 places it at around 8 times estimated consolidated earnings for 2013-14 on a post-issue basis. Other jewellery stocks are available at the same or even cheaper valuations. Competitor Gitanjali Gems, larger by far, trades at a forward estimate of 7.4 times. The company is raising Rs 179.5 crore through this IPO, of which Rs 70 crore is an offer for sale.
In the jewellery business, companies with established domestic brands usually enjoy much better valuations than those who rely mainly on exports. Tara Jewels manufactures gold and studded gold jewellery. The US and the trading hub of Hong Kong make up the bulk of its export destinations. The company’s client base is strong and it has long-standing relationships with its clients, which aids in maintaining a secure customer base.
The company is also planning to move into the lucrative Central and Latin American markets, including setting up of manufacturing plants there too. But client concentration is high, with a third of exports stemming from three clients. Any change in sourcing strategies of these clients could hinder steady export growth. Biggest client Wal-Mart, for example, accounted for Rs 141 crore exports in 2009-10 which dropped to Rs 130 crore two years later. Revenues from other key clients have also fluctuated over the years.
Growing retail presence
Better valuations for the stock will hinge on the company’s ability to increase its domestic presence significantly from here. Tara Jewels has a chain of 30 stores in domestic markets under the name ‘Tara Jewellers’ through which it retails jewellery. Ramp-up of contribution from this segment has been good since the company launched its retail efforts in FY10 — this avenue made up 13 per cent of total revenues last fiscal, from the barely 2 per cent at the time of launch.
Of the issue proceeds, Rs 67 crore will be used for opening 20 new stores. It could further tilt the revenue mix towards the higher-margin domestic retail business.
While a timeline of March 2013 is provided for the opening of these stores, it appears rather tight, given that the company is yet to tie up properties for any of these stores. It has already faced delays in store openings earlier.
Consolidated revenues have grown at a compounded annual rate of 23 per cent over the past three years to Rs 1,400 crore in FY-12. On better control over operating costs, net profits zoomed 97 per cent to Rs 56 crore in the same period.
Operating margins are healthy at 9-10 per cent, higher than most peers. But heavy debt — the company’s debt-equity ratio is 2.1 times on a pre-issue basis — and resultant interest outgo dragged net profit margins to 4 per cent, on par with peers.
Rs 50 crore of the issue proceeds will be used to repay high-cost debt, which will bring the debt-equity ratio post issue to 1.3 times. Even so, interest cover is slim at 2.1 times. Given the working-capital intensive business, the longer working capital cycle, and capacity expansion plans, the company may require further funding which could push debt back up in the long-term.
The offer is open for subscription till 23 November. Enam Securities and ICICI Securities are the lead managers to the issue.


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Tesla’s VP of People, Valerie Capers Workman, has reportedly left the red-hot electric vehicle (EV) manufacturer for a new role as the Chief Legal Officer at Handshake, the career search website for college students.
Workman, who reported directly to CEO and Technoking Elon Musk, first started at Tesla as an Associate General Counsel focused on compliance before leaping to the company’s HR team.
“I am proud of all that I was able to accomplish at Tesla with the support of truly excellent colleagues, especially the People and Legal teams,” Workman said in an email seen by Bloomberg. Workman also stated her confidence that she had left Tesla in a better place than when she got there, “with the implementation of so many important programs for employees worldwide.”
As the VP of People, Workman has been Tesla’s leading diversity advocate and highest-ranking black executive. Under her leadership, the company published its first-ever diversity report and implemented a new employee handbook.
However, Workman also steps away from Telsa on the back of news that six women have sued the EV maker for sexual harassment they experienced while working at the company’s plant in Fremont, California. The lawsuit follows a successful $137 million racial harassment lawsuit from a former contractor who worked at the Fremont facility.
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The Australian government is keeping a close eye on bitcoin, but not on the regulatory front. Rather, it is tracking every conversion from bitcoin into Australian dollars, and vice-versa.
The government agency doing the snooping is the Australian Transaction Reports and Analysis Centre (Austrac). The centre is tasked with countering money laundering and terrorist finance, so it is only logical that it would track anonymous transactions.
Tracking bitcoin-related transactions
Austrac CEO John Schmidt told lawmakers that Australia collects data on all international fund transfers, including bitcoin conversions, ZDnet reports.
“At some point, a person will be purchasing bitcoin using Australian dollars, for example, and then if they are dealing in substances or services, will want to convert those bitcoins back into the legitimate currencies of where ever they are, so they can gain the benefit of them.”
This is where it gets interesting. Because the centre gets international transfer instructions, it is possible to identify transactions made by people purchasing bitcoins.
Schmidt added that most countries have the same capability as Australia, but it is unclear whether they use it. He added that some prosecutions have already resulted from intelligence collected by the centre.
The CEO argued that bitcoin is a commodity used to transfer value rather than a legitimate currency. When bitcoins are converted into AUD, Austrac can identify those transactions.
Bitcoin is not a threat, yet
Schmidt also issued a warning that if bitcoin gains more independence from fiat currency it will become more attractive to criminal organizations that need to channel money around. In that case, international cooperation will be necessary, as Schmidt points out:
“Because they will operate on servers in jurisdictions around the world, and use very sophisticated methods to move and hide their identities. It’s when you have the international cooperation […] that is the answer to being able to stop that criminal behaviour.”
Interestingly, Schmidt pointed out that Austrac is still not able to quantify the size of the bitcoin market in Australia, but he doesn’t see it as a major threat. He pointed out that people are gambling on the prospective value of bitcoin rather than using it for transactions.
“At this point in time, when you consider all the existing threats we face from the criminal perspective, they are not top of the list,” Schmidt concluded.
Australian 100 Dollar Bill image via Shutterstock
Disclosure Read More
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.


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Best Deals From Nations Leasing at United Motors Lanka PLC
Nations Trust Bank joins hands with United Motors Lanka PLC to provide customers with the best deals on leases for Mitsubishi passenger vehicles; Eclipse Cross, PHEV, L200, Xpander, Xpander Cross, Attrage Old and Attrage New. The agreement was signed on the 28th of July 2020 andMr. Priyantha Samaradiwakara, Senior Vice President– Leasingsigned on behalf of Nations Trust Bank PLC while Mr. Gihan Pilapitiya – General Manager on behalf of United Motors Lanka PLC.
This partnership between two of Sri Lanka’s most respected corporate entities will provide vehicle buyers with the opportunity to access high quality passenger vehicles from world renowned Japanese vehicle manufacturer Mitsubishi at unbeatable rates. Customers will be able to take the advantage of Nations Leases for these vehicles at a special rate along with a special discount for the purchase price, courtesy of United Motors Lanka Limited. Other exclusive benefits include 40% of residual value, no requirement for guarantors, speedy processing of leases and discounts on vehicle insurance. These special rates and benefits will be available till the 30thof September 2020.
Speaking about this tie-up, Mr. Priyantha Samaradiwakara, Senior Vice President - Leasing at Nations Trust Bank said, ‘We are always pushing the boundaries to find new ways to provide best solutions to our customers and ensure that they get the best possible deals. United Motors Lanka PLC is one of Sri Lanka’s pioneering motor vehicle companies and we are proud to tie-up with them and be able to offer our customers unbeatable terms on leases for Mitsubishi passenger vehicles.If anyone is looking to drive a Mitsubishi passenger vehicle, here is a great opportunity to take the advantage of these special benefits before the promotion period ends on 30thSeptember2020.’
Mr. Gihan Pilapitiya – General Manager at United Motors Lanka PLC added, ‘Being one of the most respected and oldest motor companies in Sri Lanka, we are very happy to tie-up with Nations Leasing, Sri Lanka’s top performing leasing outfit. The dynamism and willingness of the team to stretch the limits is inspiring and we are sure that many buyers will be able to benefit from the exclusive discounts, rates and terms that our partnership will provide.’
Nations Trust Bank introduced a pioneering in the digital front with the revolutionary “Nations On-site Leasing” proposition enabling the completion of the full lease process at the vehicle sales point and the buyer to drive away on the same day.
Nations Trust Bank PLC is among the top 15 business establishments in Sri Lanka as ranked by Business Today. Stemming from its vision of “helping people and businesses by providing financial services and information to achieve their goals and aspirations in a sustainable way”, the Bank serves a diverse range of customers across both individual and corporate, with an enviable portfolio of banking and financial products and services. Strongly focused on digital empowerment through cutting-edge digital banking technologies, the Bank is a pioneer in many innovative customer centric banking solutions such as extended banking hours, 365-day banking and FriMi – Sri Lanka’s first digital banking experience. Delivering premium value, service and connecting its Cardmembers to rewarding experiences and opportunities Nations Trust Bank PLC is an issuer and sole acquirer of American Express Cards in Sri Lanka. The Bank operates 96 branches across the country and has an ATM network covering 127 locations and 48 Cash Deposit & Withdrawal Machines, plus more than 3,700 ATMs on the Lanka Pay Network.


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In a year marked by unprecedented shocks to the country's economy, PNC's 37th annual Christmas Price Index (CPI) accounts for the pandemic's impact on the cost of purchasing presents from the classic holiday song, "The 12 Days of Christmas” – driven down by cancellations of live performances due to COVID-19.
And, due to increased social-distancing, quarantines and limits on entertainment, there will be a lot less of the nine ladies dancing!
A light-hearted take on the Bureau of Labor Statistics' (BLS) Consumer Price Index, which measures the average change in prices consumers pay for goods and services over time, the PNC version applies its own analysis to procuring True Love's 12 gifts. This year's index includes adjustments for the reality that many live performances have been cancelled. True Love must now rely primarily on technology to share tidings of joy.
Considering the impact of social distancing, PNC calculated the 2020 price tag for the PNC Christmas Price Index at just $16,168.10, a considerable decrease of $22,825.45 or -58.5% over last year's cost, with a third of the index constituents literally not available for purchase this year.
"2020 has been anything but conventional for consumers, the markets and the economy. In response to these unusual times, we took a non-traditional view in calculating the Christmas Price Index," said Amanda Agati, chief investment strategist for The PNC Financial Services Group. "The biggest impact has been for live performances, which are mostly unavailable this holiday season. While some performing arts groups are finding ways to engage, such as through virtual presentations, it's a silent night at most symphonies and the lights have dimmed on many dance companies, as reflected in this year's significant drop in PNC's CPI data."
The cost of the 12 gifts is reported on PNC's interactive website, which this year focuses on the fundamental lessons consumers can learn from the pandemic's economic impact.
"In 2020, the inflation story due to COVID-19 as told by the BLS' Consumer Price Index has surprised to the downside, averaging just 1.3% over the last year versus the Federal Reserve's 2% target over time. Despite excluding the items that were unavailable due to COVID-19, we still saw a 2.9% increase in the PNC CPI," Agati said. "The largest price increases this year have come in the food and exotic pet categories. While this may initially seem like inflation is already here and potentially problematic, the categories depicted are very narrow and specialized. This isn't indicative of a broad-based inflation spike."
Additional insights from this year's index include:
- Fowl friends illustrate fluctuation. Birds of a feather are flocking together and represent the largest price increases in this year's index totaling $328.50, which represents a 36.4% increase in total from 2019. The inability for consumers to eat at restaurants or even get takeout during the lockdowns drove an increased need for cooking at home, leading to an unexpected increase in demand (and subsequently prices) for our fowl friends. COVID-19 accelerated the trend toward backyard farming that has been slowly catching on over the last few years.
- Gold rings show correlation between commodities and consumer prices. At the onset of the pandemic in the spring, investors dashed for store-of-value assets, such as gold. As the recovery went on over the summer, there were expectations that inflation was going to creep into markets. Gold traded up 40% from trough to peak but has retraced some of that rally as the market recovered and inflation fears subsided.
- Performers, audiences to stay home for the holidays. Dashing through the snow to make a show may not be as likely this year, as indicated by the lack of availability for nine ladies dancing and their artistic counterparts. These artisans, like many consumers, have another round of fiscal stimulus at the top of their Christmas wish lists as regional economic restrictions go back into effect for the holidays. Advocates for the arts are not out of options for the performance-lover on their nice list, as many performing arts organizations are holding virtual performances and are grateful for donations this COVID-19 Christmas.
Technology also has taken the wheel in driving new consumer behaviors and providing platforms for retailers to spread holiday cheer from home. As consumers reallocate spending from services to goods this year, retailers are dashing to deliver satisfying virtual shopping experiences.
Santa's sleigh will have plenty of help hauling presents, thanks to shipping services. Delivery companies are expected to play an integral role during this year's pandemic, which is reflected in the additional travel and shipping costs factored into the PNC CPI internet prices. A tech-savvy True Love will spend an additional $4,186.95 when completing their shopping list online, paying a total of $20,355.09 for the ease of ecommerce convenience. Free shipping for livestock purchases is not an option just yet.
The annual PNC CPI tradition includes calculating the "True Cost of Christmas," which is the total cost of items bestowed by a True Love who repeats all the song's verses. Purchasing all 364 gifts will require $105,561.80, which means that spreading cheer throughout the year in 2020 costs 38% less than in 2019, given the exclusion of live performances.
Don't rush to call True Love a Scrooge just yet, as without a doubt, they will be on the hook for a number of "IOU's" next holiday season when live performances resume.
"Like the index, our concluding thought is on what sets the pace for the markets," said Agati. "Consumer behavior is the drum beat for the US economy. With 70% of US GDP tied to consumption, consumer health is key to future market performance. Keep an eye on guiding stars like retail sales, savings rates and ecommerce growth as indicators of the success of this holiday season."
Started in 1984 by a PNC predecessor bank in Philadelphia, the Christmas Price Index was developed for inclusion in a holiday message to clients. Now designed to share and educate all consumers, the PNC CPI continues to highlight market changes over time.
Sonic Mic: Chuck Yeager Slips the Surly Bonds
Chuck Yeager, the fun-loving, hard-living daredevil who was the first aviator to break the sound barrier to become a symbol of bravery for generations of test pilots and astronauts, has slipped the surly bonds of earth to touch the face of God, to borrow from the famous Ronald Reagan speech after the Space Shuttle Challenger disaster in 1986. Yeager was 97 years young.
A West Virginia native whose maverick streak didn’t keep him from becoming an Air Force general, Gen. Yeager personified the thrill-seeking fraternity of flyboys that moved the U.S. into the jet age after World War II and later vaulted it toward space exploration.
As a brash 24-year-old, he left an indelible mark on history in October 1947 when his Bell X-1 rocket plane – “Glamorous Glennis” named after his first wife – was released from its mother ship and, spewing 6,000 pounds of thrust, accelerated as it climbed. For some 18 seconds, with Gen. Yeager and his ground crew in virtual disbelief, it flew faster than the speed of sound roughly eight miles above Southern California’s Muroc Field, later known as Edwards Air Force Base.
His happy-go-lucky spirit and grace under pressure was immortalized in the Tom Wolfe classic “The Right Stuff,” which made him a global superstar. He shares the aerospace icon shelf with the likes of Charles Lindbergh, who conquered the Atlantic in a solo flight, and Neil Armstrong, the first to step foot on the moon, among other luminaries.
And if that wasn’t enough, on the 50th anniversary of the historic sound barrier record, Gen. Yeager, then a much younger 74, thrust an F-15 fighter jet aptly named “Glennis III,” past Mach 1, again surpassing the sound barrier. It was his last official Air Force flight, an emphatic exclamation point on a life well lived!
» TODD SMITH is co-founder, president and chief executive officer of Deane | Smith, a full-service branding, PR, marketing and advertising firm with offices in Jackson. The firm – based in Nashville, Tenn. – is also affiliated with Mad Genius. Contact him at email@example.com, follow him @spinsurgeon and like the ageny on Facebook at https://www.facebook.com/deanesmithpartners, and join us on LinkedIn http://www.linkedin.com/company/deane-smith-&-partners.


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Buffalo's Bobby Rich Banned for Life
- Written by Steel Rose
BUFFALO, NY (WKBW) — New York Attorney General Letitia James announced a settlement today, banning Buffalo-based debt collector Robert Heidenreich, also known as Bobby Rich, from the debt collection industry.
Authorities say it's for misleading consumers on how much money they owed, and using illegal tactics to collect the inflated debt.
In addition to the ban, the settlement also includes a suspended judgment of $1.7 million. To Read More


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Dietary supplements are responsible for an estimated 23,000 visits to hospital emergency rooms, and more than 2,100 hospitalizations, in the United States each year, a new study reveals.
Researchers found that more than one-quarter of these emergency visits involved young adults ages 20 to 34, and about one-fifth of them involved unsupervised children who swallowed adult supplements, according to the study, which was published online today (Oct. 14) in the New England Journal of Medicine.
The visits involved people who had taken herbal, homeopathic and nutritional supplements, such as amino acids and probiotics, as well as vitamins and minerals, according to the study.
Prior to these estimates, there was little national data on the safety of dietary supplements aside from the information that researchers could glean about the several hundred supplement products that have been recalled by the Food and Drug Administration for containing unapproved ingredients or contaminants, said Dr. Andrew Geller, the study's lead author and a medical officer with the Centers for Disease Control and Prevention's Division of Healthcare Quality Promotion in Atlanta.
To determine the number of Americans who may have experienced harmful consequences of dietary supplements — such as unwanted side effects, allergic reactions, excess doses and accidental swallowing by children — the researchers analyzed data gathered from 63 U.S. hospital emergency rooms between 2004 and 2013. [7 Bizarre Drug Side Effects]
Over the 10-year period, there were about 3,700 ER visits at these hospitals, including 400 cases in which the person was admitted to the hospital, the researchers found. From these numbers, they calculated the new national yearly estimates.
However, the estimated 23,000 emergency room visits and 2,100 hospitalizations per year are "likely an underestimate of adverse events," Geller told Live Science.
One reason the estimates may be on the low side is that many people who have negative reactions to a dietary supplement never end up in a hospital emergency room, he said. Instead, they might see their doctors, go to walk-in clinics or self-treat the problem at home, and none of these examples would be captured in the new study.
Another reason the findings might be an undercount is that some commonly used forms of dietary supplements, such as protein shakes and energy drinks, were not included in the analysis because they are considered foods.
And a third reason is that patients don't consistently report their use of dietary supplements to health professionals, or they cannot remember the exact brand they used, Geller said. This makes it hard for health practitioners to draw a connection between the symptoms a person is experiencing and a supplement's possible side effects.
Although the harmful effects linked with dietary supplements account for less than 5 percent of those caused by pharmaceuticals and over-the-counter medications, there are reasons to be concerned as more Americans turn to supplements in attempts to improve their health, Geller said.
Unlike prescription drugs, dietary supplements are not required to undergo safety testing or FDA approval before they are marketed to consumers.
In the study, the researchers pointed out that although young adults are typically considered a healthy group, this age group made the most emergency room visits because of adverse reactions to dietary supplements.
Young adults were involved in 28 percent of the cases of negative reactions to dietary supplements. In comparison, 22 percent of cases involved kids younger than 4, and 15 percent involved adults ages 35 to 49. Just 12 percent of cases involved people over 65.
Many young adults don't realize that dietary supplements can cause side effects, Geller told Live Science.
The analysis showed that weight loss and energy supplements accounted for more than half of the cases in 20- and 30-somethings. People in this group experienced heart palpitations, chest pain and a racing heartbeat after using these two types of supplements.
The most common problems seen in people over 65 were swallowing problems caused by vitamins and minerals, the study found. Older adults were more likely to report choking or feeling the sensation of a pill being stuck in their throat.
However, the findings were unable to link specific harms to specific ingredients in the supplements, Geller said.
Now that some of the at-risk groups have been identified, the next steps will be to focus on prevention efforts that can reduce the number of harmful effects from dietary supplements, Geller said.
This means educating parents and other caregivers to store dietary supplements and medications out-of-sight and away from young children, Geller said.
He also recommended that older adults take dietary supplements with plenty of water or other fluids, and to ask their doctor or pharmacist whether a large supplement can be cut in half or comes in a liquid form.
Geller encouraged young adults to tell their health care providers about their supplement use, and to talk to their doctor before starting on a weight loss or energy supplement, especially if they have a history of heart problems.


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- Top Copper Miner Almost Sold Out on Strong China Demand – Chinese copper demand has been so strong in the past few months that top producer Codelco has almost sold out of supplies for next year, well ahead of schedule, according to the chairman of the Chilean state-owned company. “It’s extremely strong, not only China. It’s extremely strong around the world,” Juan Benavides, who took over as chairman of Codelco in May, said in an interview in London. The wave of buying comes as prices have fallen 15 percent this year amid fears that a trade war between the U.S. and China could stifle global growth. “The trade war is not good at all,” but “demand is strong, inventories are low, supply is not growing as much as demand,” he said. He sees prices rising above US$3 per pound (US$6,612 a tonne) as demand outpaces supply, reports Bloomberg.
Copper metal exchange inventories currently represent rougnly 1x week’s consumption. This is fundamentally tight! However to date sentiment has been focused on fears that the trade wars, tariffs and sanctions would reduce demand for commodities. China’s behaviour in effectively buying out supply from one of the world’s largest suppliers says that China does not want its growth to be constrained.
BHP has also recently been making very positive outlook statements about the anticipated demand for copper tht may arise from China’s Belt-Road Initiative (BRI).


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By Dr. Mike Chang, MediaTek Corporate Vice President and General Manager of the Smart Home Business Group
From smart locks to smart ovens, MediaTek powers connected devices for every room of the home. These connected devices are automating our everyday tasks and making our lives easier. Monitoring your home security system, turning off the lights and adjusting a finicky thermostat can be done from the convenience of a smartphone, no matter where you are.
Turning your house into a smart home is as simple as plugging in a voice assistant device (VAD) and linking it to your smartphone. And many homeowners aren’t stopping with just one device, they are investing in a collection of IoT-enabled devices to open up new possibilities for entertainment, learning, work and much more.
According to a survey conducted by MediaTek, 75% of respondents said they already own at least one connected home device. Furthermore, 57% said they have plans to add a smart home device to their collection this year, and more than half (51%) of those respondents said they plan to upgrade their home entertainment center with a new smart TV. Other gadgets that they plan to purchase include voice assistants, Wi-Fi routers, refrigerators, smart lights and more.
Consumers can reap the benefits and enjoy the comfort of a connected home at affordable price points. Plus, there are a plethora of smart devices powered by MediaTek to choose from at major retailers like Amazon, Best Buy and Walmart. It’s also important to keep in mind that smart home devices are more than just fun and games. In our survey, 32% of respondents reported that their smart devices “simplified routines or tasks,” 26% said their devices saved them time and 14% even said that their devices helped save them money.
It’s also interesting to look at where consumers keep their smart devices in their home. While it’s not surprising that 70% of respondents have a smart device in their living room and 46% of those surveyed have a connected gadget in their bedroom, 46% also reported that they have a smart device in their kitchen. Whether you’re cooking with a smart oven, searching for recipes on your smart display or setting a timer on your voice assistant, connected devices are making the smart kitchen a reality.
MediaTek powers a variety of smart home devices to benefit any home, big or small, in the following ways:
- Entertainment: AI-enabled VADs and speakers can not only help manage other connected devices in your home, but can also learn your voice, habits and preferences to help you explore new music, stay informed about current events and even solve a math equation in a pinch. Enjoy fast paced sports and games in your living room with the latest 4KTVs featuring fast refresh rates, or opt for epic cinema-esq experiences from the latest 8KTVs, in part thanks to MediaTek’s latest AI-enhanced visuals and MEMC technologies that dynamically enhance the video stream in real-time based on what’s being watched.
- Security: Never use your front door peep hole again with MediaTek-powered connected security systems – from doorbells, cameras and lights – to ensure you stay safe and feel comfortable in your home.
- Saving Energy and Money: By automating lights or HVAC systems with smart home technology, homeowners can save on their energy bills by automating temperature changes, along with automatically turning off the lights when you leave the room, even if you forget to hit the switch.
- Convenience: With a simple voice command, intelligent, connected devices are aware of environmental changes, people or even pets, ensuring your home is reactive to change and your needs without ever lifting a finger. Smart TVs are becoming more than just App and streaming delivery systems, MediaTek now makes them capable of using voice commands even in crowed rooms, so it doesn’t matter if you lose the remote (again). Their ultra-high resolutions provide ample real-estate for both content and information, allowing users to stream, surf, chat or interact with their smart homes all at the same time.
MediaTek’s smart home portfolio makes your home truly smart and connected. With MediaTek-powered devices in your home, you can enjoy new avenues of entertainment, stay informed, feel safe and lower your energy bills, leaving more time to spend on the things that matter most.
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$JNJ posted improved earnings in 3Q16, helped by higher sales compared to 3Q15. Net earnings were $4.27Bil or $1.53 per diluted share compared to $3.36Bil or $1.20 per diluted share last year. Sales of $17.8Bil grew 4.2% versus a year ago. Adjusted EPS was $1.68, which grew 12.8% from last year.
Still in yesterday’s $PZZA shock. I thought everyone had more pizza this football season!!
$TSLA stock downgraded to sell from hold by brokerage firm CFRA Research. However, the firm lifted the price target by $35 to $240.
$LB shares have plummeted after a disappointing quarter.


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A Derbyshire kitchen and bathroom company says that the reality of smart kitchens, where Google will help make you a latte, could be here sooner than you think.
Ramsey's, based in Long Eaton, says 2019 could see Derby residents controlling everything from their coffee maker to their central heating remotely as the rise of the smart kitchen becomes a reality.
Ramsey Dawson, 47, is managing director of the family-run business.
He said: “Our team take regular trips to Germany, where many of our kitchens are sourced, and the technology on offer is astounding.
"The kitchen of the future is smart, and will possibly require more counter space than ever before."
Fridge cameras, which take a photo when you close the door to remind you of what you need to buy, and controlling your appliances via virtual assistants are all set to become a reality, with many gadgets are already available from the showroom which has just celebrated its 47th year in business.
Ramsey added: “We are more savvy than ever before, and designers are looking at ways in which the home can be revamped to include even more smart technology.
"We are finding that some of our most common pieces of technology include central heating which can be controlled via an app, or voice recognition, and underfloor heating which can be controlled in the same way.
"Many customers are after something unique and are savvy when it comes to technology - I often joke that we could see people talking to Alexa more than their spouse soon!”
However, don't get too carried away.
He added: "Those who are hoping for a kitchen robot which glides seamlessly around the kitchen making you dinner and washing the dishes while you drink a glass of wine will certainly be disappointed - but the rise of the smart kitchen in a different form is certainly a reality."


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Turbine has announced the closed beta for DDO: Menace of the Underdark will launch next week on May 10 exclusively for those who to pre-order the expansion. The firm also sent over a new batch of screens for the Eveningstar area, which are posted below. The expansion is due for release on June 25.
Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. For more information, go here.


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The Crucial Wireless PDAs
Those wireless LAN-connected PDAs are a crucial part of the puzzle. Given the tiny amount of time reps will have to review the information the PDAs gather, McKinney wanted to make sure the data was severely triaged."Customer service is such a big issue for our particular customer segment," he said. Therefore, once the rep has the customer, "we dont want them to have to scroll through lots of screens. Once theyve identified [the customer], theyll have just a few key screens to look at." The company hasnt settled on a PDA vendor yet, but McKinney said a large part of the audition will be "coming up with the design of the application." To make it easy, McKinney said Casual Male wants to start the PDA project slowly. "In the initial implementation, it will not be a transaction terminal," he said, adding that this will temporarily sidestep the security and privacy issues of credit-card data being transmitted through the store and saved onto an easy-to-steal PDA. To read more about how PDAs and cell phones are being used as check-out devices, click here. The PDAs will also initially be one-way: Data will come into the PDA, but the PDA will not wirelessly update the server with new info. That will be doneat least initiallythe old-fashioned way.Casual Males customers today are overwhelmingly (95 percent) not buying their products from the Casual Male Web site, and the company doesnt anticipate that to change, Hernreich said. But he does want the 5 percent number to grow substantially, with a target of a tripling to 15 percent.Retail Center Editor Evan Schuman can be reached at Evan_Schuman@ziffdavis.com. Check out eWEEK.coms Retail Center for the latest news, views and analysis of this vital industry.
Are some retail managers revolting against IT-controlled CRM? To read more, click here.


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Fintech giant PayPal has revealed it has agreed to acquired Israel-based cryptocurrency custody firm Curv for less than $200 million. The deal is expected to close in the first half of this year.
According to an announcement shared by PayPal, the payments giant plans to use the purchase to “accelerate and expand its initiatives to support cryptocurrencies and digital assets.”
The announcement quotes Jose Fernandez da Ponte, PayPal’s vice president, and general manager of blockchain, crypto, and digital currencies, saying:
The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system. During our conversations with Curv’s team, we’ve been impressed by their technical talent, entrepreneurial spirit, and the thinking behind the technology they’ve built in the last few years.
Itay Malinger, the co-founder of Curv, said that as the adoption of digital assets accelerates, the firm feels there’s “no better home than PayPal to continue our journey of innovation.” According to CNBC, the deal will be worth less than $200 million and comes months after PayPal affirmed its commitment to the cryptocurrency segment.
It partnered with Paxos to start letting users on its platform buy, sell, and hold crypto assets. While the service is limited to BTC, BCH, ETH, and LTC and is only available in the U.S., the company is set to expand it to the United Kingdom soon.
The payments giant was said to be on the hunt for a crypto custody acquisition for a few months and was reported to have approached BitGo for as much as $750 million, but the deal fell through. Curv uses multi-party computation for its cryptoasset security, relying on math and code to secure funds.
The approach is similar to the one used by Fireblocks, which is reportedly working with the oldest bank of the United States, Bank of New York Mellon (NYSE: BK), which is also rolling out a crypto custody service.


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Today, Toast, the all-in-one restaurant management platform, announced a strategic collaboration with Google to create a new ordering channel for restaurants. This new channel will provide restaurants with the ability to meet guests where they are, whether that’s through search, maps, or voice.
The new ordering channel will enable restaurant operators to create and manage their online ordering menus with Toast, and then distribute them across Google Search, Google Maps, and Google Assistant. Restaurants will be able to take advantage of Google’s powerful search engine and navigation tools to reach new customers and deliver a great dining experience.
The new channel is designed to be quick and easy to set up, with all orders synced directly to the Toast system. This will make it easier for restaurants to manage orders and ensure they are delivered quickly and accurately. The integration also offers the ability to manage loyalty programs and upsell items, giving restaurants a way to increase revenue.
“We’re excited to partner with Google to create a new ordering channel for restaurants,” said Chris Comparato, CEO of Toast. “By leveraging Google’s powerful search, maps, and voice capabilities, restaurants can reach more customers and deliver a great dining experience. This integration is just the beginning of the partnership, and we look forward to continuing to work together to deliver the best possible experience for restaurants and their guests.”
The new ordering channel is available now for restaurants in the United States and Canada. For more information about the integration, visit Toast.com.


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Armalytix Press – Fintech Finance How accountant can help SME access better financial planning
Richard McCall, CEO of Armalytix, believes fast access to up-to-date financial data is essential to the success of small businesses in their recovery from COVID-19. Richard explains how Open Banking can help small businesses and the accountants that support them gain more visibility over their finances.
The UK is still a nation of small businesses with 5.7 million of the 5.98 million UK businesses considered a ‘micro’ business – employing less than 10 staff. Sadly, many of these SMEs will have felt the aftermath of COVID-19’s economic wreckage.