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It's a big win for SMBs in need of immediate cash and the families and communities that depend on them most.
Crowdz Awarded as Technology Pioneer by World Economic Forum
The World Economic Forum announced its selection of the 100 most promising Technology Pioneers of 2021 - companies that are shaping industries from healthcare to retail and many more.
Crowdz, an invoice finance marketplace, which allows small and medium-sized businesses to sell unpaid invoices for working capital, was selected for its contribution to equitable finance.
CAMPBELL CA, 15 June, 2021 – Crowdz, a California-based invoice finance marketplace, enabling small and medium enterprises (SME) to sell unpaid invoices for working capital, was selected among hundreds of candidates as one of the World Economic Forum’s “Technology Pioneers”. Crowdz offers an equitable financing solution for SMEs that often struggle to obtain traditional bank financing. Its innovative technology reduces cash flow bottlenecks for SMEs, providing working capital to survive and thrive, whilst providing a profitable vehicle for investors to leverage their bottom line for good.
The World Economic Forum’s Technology Pioneers are early to growth-stage companies from around the world that are involved in the use of new technologies and innovation that are poised to have a significant impact on business and society.
With their selection as Technology Pioneer, CEO Payson Johnston of Crowdz will be invited to participate at World Economic Forum activities, events and discussions throughout the year. Crowdz will also contribute to Forum initiatives over the next two years, working with global leaders to help address key industry and societal issues.
“We’re excited to welcome Crowdz to our 2021 cohort of Technology Pioneers,” says Susan Nesbitt, Head of the Global Innovators Community, World Economic Forum. “Crowdz and its fellow pioneers are developing technologies that can help society solve some of its most pressing issues. We look forward to their contribution to the World Economic Forum in its commitment to improving the state of the world.”
“Crowdz is proud to be acknowledged as a pioneer by the World Economic Forum. It’s humbling to have the Forum recognize the importance of the global issue we’re addressing,” said Payson Johnston, Crowdz CEO and co-founder.
“After weathering the brunt of the pandemic’s economic storm, our most vulnerable companies, the mom-and-pop businesses that power our communities, need more financial support than ever. If this sector of the economy collapses, so does the rest of society. Through our initiatives, such as our Reclaim the Future project, we’ve created an inclusive financing solution that we hope offers a lifeline to millions of small businesses and suppliers, particularly those that are diverse and minority-owned,” said Johnston.
For the first time in the community’s history, over 30% of the cohort are led by women. The firms also come from regions all around the world, extending their community far beyond Silicon Valley. This year’s cohort includes start-ups from 26 countries, with UAE, El Salvador, Ethiopia and Zimbabwe represented for the first time.
The diversity of these companies extends to their innovations as well. 2021 Tech Pioneer firms are shaping the future by advancing technologies such as AI, IoT, robotics, blockchain, biotechnology and many more. The full list of Technology Pioneers can be found here.
Technology Pioneers have been selected based on the community’s selection criteria, which includes innovation, impact and leadership as well as the company’s relevance with the World Economic Forum’s Platforms.
All info on this year’s Technology Pioneers can be found here: http://wef.ch/techpioneers21
More information on past winners, information on the community and the application link can be found here.
Crowdz is modernizing invoice finance and invoicing practices, particularly for small and midsize businesses, to revolutionize the $9 trillion worldwide receivables market.
The platform offers an alternative finance solution for small businesses that often struggle to obtain traditional bank financing. Its innovative technology, which enables small businesses to sell invoices to funders, reduces cash flow bottlenecks and gives small businesses working capital to survive and thrive.
Founded in 2014, Crowdz is headed by its co-founder and CEO, Payson Johnston, who served for 18 years as global B2B supply-chain Senior Manager for Cisco. Crowdz has raised $13.8 million from investors including Bold Capital Partners, Barclays Bank, Augment Ventures, Global Cleantech Capital, TFX Ventures, and Techstars Ventures. Crowdz’s technologies are covered by multiple pending patents. (www.Crowdz.io)
About World Economic Forum: The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).
About the Technology Pioneers:
The World Economic Forum believes that innovation is critical to the future well-being of society and to driving economic growth. Launched in 2000, the Technology Pioneer community is composed of early to growth-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society.
The World Economic Forum provides the Technology Pioneers community with a platform to engage with the public- and private-sector leaders and to contribute new solutions to overcome the current crisis and build future resiliency.
- The World Economic Forum announced its selection of the 100 most promising Technology Pioneers of 2021 – companies that are shaping industries from healthcare to retail and many more.
- This year’s cohort includes representation from 26 economies on six continents with reach far beyond traditional tech hubs like Silicon Valley.
- The full list of Technology Pioneers can be viewed here.


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Asus has unveiled a 10.1-inch Windows 8 tablet with NFC at the CES show. The VivoTab Smart features an Intel Atom dual-core processor and a detachable ‘Transleeve’ cover that combines screen protection with a wireless keyboard.
- Antelop to add Visa token support to white label NFC mobile wallet platform
- Japanese banks get go ahead for digital currency launch
- UK supermarket pilots self-checkout service that lets shoppers scan and pay by smartphone
- Contactless ‘beer wall’ lets students serve and pay for their own drinks
- UK consumers warm to face verification at the point of sale

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Mad Men Returns to TV | Nuclear Energy TV Ad Debuts
The Nuclear Energy Institute (NEI) produced three versions of a new television ad as part of its 2012 advertising campaign targeted at federal and state policymakers.
The campaign’s three crisp messages are: clean air, value, and jobs.
This 60-second version above will run in the Washington, DC market on NBC’s Meet The Press and NBC’s Nightly News with Brian Williams.
You’ll see it on The Daily Show with Jon Stewart too.
The new campaign’s three-pronged approach reinforces the television ads with radio ads and with print advertising (see below).
No, Jon Hamm isn’t the spokesman.
See the full press release.


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Research Indicates Reusable Towels Safe for Use
March 7, 2013—Following a report from environmental engineering firm ARCADIS confirming the safety of reusable shop towels, the Textile Rental Services Association of America (TRSA) has verified that the reusable towels do not harm shop workers.
A health risk assessment of laundered reusable shop towels conducted in April 2012 by ARCADIS indicated that using the towels creates no health hazards. Findings indicated that metals that remained on shop towels after they were laundered did not transfer to the hands of workers who used shop towels.
These results were independently verified and have been submitted for peer review for publication in industrial hygienic scholarly journals, according to TRSA President & CEO Joseph Ricci.
The ARCADIS research measured metal traces in laundered towels and increased the scope of testing to include leachability tests, using “synthetic sweat” to estimate residual elements that could be freed during towel use.
“Reusable cloth shop towels have been used by millions of workers for more than 100 years with no indications that clean shop towels have any impact on worker health,” said Ricci. “By measuring leachate, and not simply relying on a modeling format, ARCADIS realistically portrayed the minuscule amount of metals that shop towel users are exposed to, reaffirming our confidence there is absolutely no risk to users."
A previous study on shop towels conducted by Gradient suggested that there’s increased risk associated with the chemicals that reside in the shop towels after they’ve been laundered.
“As the trade association representing facilities that process laundered reusable shop towels, we felt we had an industry responsibility to conduct a health assessment to quantify if any real health risk existed,” Ricci said. “This study reconfirms decades of experience, that laundered reusable shop towels are not only safe but are the most efficient, cost-effective and sustainable option.”


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This is the last full weekend before Christmas Day – and entrepreneurs and business chiefs predict their tills will be jingling all weekend.
Today could well see the biggest spending of the year as customers scramble for last-minute gifts.
Mark Whittle, Preston Business Improvement District manager, said there was plenty to attract shoppers and revellers to the city centre.
He said: “Christmas is a very important time for retailers. Many businesses have already started their January sales in an attempt to grab some of the last minute rush to find that all important gift.
“This weekend the shops will be gearing up for what is traditionally one of their busiest periods.
“There will be plenty of Christmas cheer in the city centre with brass bands, carol singing Christmas crackers, tap dancing turkeys and a Winter Fairy helping to spread good cheer.”
Bosses at St George’s Shopping Centre meanwhile reminded shoppers of their Christmas hamper competition. They tweeted: “Shopping at St George’s tomorrow? Look out for a golden ticket on your car and win a luxury M&S hamper.”
A spokeswoman at Hogarths gin palace in Church Street said last night : “We are absolutely rammed. You can’t move.
“We were wondering whether this weekend or next would be the busy one – it might be both!”.
The city centre’s Christmas activities began with a free Christmas concert and lights switch on featuring Heather Small, The Real Thing and others.
The Christmas lights will shine until Friday January 6.


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According to Google Trends, the demand for animal onesies in Australia has increased by almost 500% over the past 12 months, and Onesie Store has launched to help service Australian customers.
Andy McIntosh, founder of Onesie Store said, “We are really happy with how things are going at the moment, we are moving stock as quick as we can get them in. We are very proud to provide our customers with authentic Kigurumi and Onesies in Australia.”
Onesie Store stocks a full range of premium adult animal onesies including the Panda, Lion, Monkey, and Cow amongst others and a kid’s onesie range is currently being stocked with a July release date targeted.
“We are really excited about the upcoming launch of our Disney range. We are on track to secure the licensing and are aiming to launch them by the end of Jul,” said Mr McIntosh.
Over the coming months many new products will be released as well as new features on the web site.
About Onesie Store
Onesie Store is an Australian owned and operated company based in Sydney, providing premium Animal Onesies and Kigurumi in Australia.


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July 2009 Archives
Either somebody has beaten chief engineer Montgomary Scott or the world is missing a couple of whales, because scientists claim they have invented transparent aluminium!
Day three's over and what a weekend it's been so far.
So the big news for Saturday? Iron Man 2 of course, and the short pieces of footage shown actually brought the packed out auditorium to its feet!
Day two has come and gone at San Diego's Convention Centre. As the lucky attendees get some shut eye in preparation for day three, Geekworld takes a look at the last 12 hours to bring you the news that matters.
Well we're just one full day into Comic Con and already the lucky so-and-sos at the San Diego Convention Centre have been bombarded with sneak previews and goodies from the year's most anticipated sci fi/fantasty events.
I've picked some of the standout moments from yesterday's show to report on, you'd be here for days if I tried to bring you news of everything!
Next weekend sees quite possibly one of the biggest events in any self-respecting geeks calendar - Comic-Con.
Every year thousands of fans from around the world make the pilgrimage to the San Diego Convention Centre to immerse themselves in three whole days of geek!
But what's the big deal? What makes Comic-Con so different from any other fanboy convention?


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Boohoo shares are expected to sell at 50p, valuing it at more than £500m, as Ao.com exercises its “over-allotment” option.
The Telegraph revealed the share price for fashion etailer Boohoo which expects to join rival Asos on AIM on March 14.
The Manchester-based etailer has lined up former Asos director Peter Williams as chairman and ex-Shop Direct boss Mark Newton-Jones as non-executive director, as revealed by Retail Week.
However, Indian etailer Koovs, which was set up by former Asos chairman Lord Alli in 2012, will pip Boohoo to the post when it floats on Monday. Koovs will raise £22m by selling 62% of the business at 150p a share, giving it a market capitalisation of £36m.
Meanwhile white goods etailer Ao.com, which floated late last month, yesterday revealed it will exercise an over-allotment option to enable it to sell more shares due to the popularity of its stock. An extra 22.3 million shares will be sold at the 285p offer price.
Shares in Ao.com closed at 357p last night, giving it a market capitalisation of £1.5bn.


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CBX retained to work with Mexico’s largest c-store group
New York City — CBX, the strategic branding and retail design consultancy, announced that its Retail Division has been retained by Cadena Comercial OXXO, North America’s largest operator of convenience stores, to assist with an expansion of its foodservice offer.
The Monterrey, Mexico-based OXXO presently operates 8,426 c-stores across Mexico and Latin America and is wholly owned by FEMSA (Fomento Económico Mexicano), a beverage company. Aggressively expanding, the chain is on track to field more than 12,000 stores by 2014. In 2010, OXXO unveiled about 1,080 new stores, for an average of 2.9 stores opening daily.
In addition to working with the chain on developing its food program, CBX is consulting on a variety of operational matters related to the foodservice program.
Zumiez CFO to leave
Everett. Wash. — Zumiez CFO Trevor Lang is leaving the retailer so that he can move back to Atlanta.
Lang’s departure takes effect on June 1, Zumiez said late Tuesday.
Zumiez said it is conducting a search for Lang’s successor.
FMI report: Shoppers continue to tighten their belts
New York City — Rising fuel costs, higher commodity prices and increasing international market demand for food are pushing food inflation higher and higher, according to the Food Marketing Institute’s U.S. Grocery Shopper Trends report released Tuesday.
As a result of the economic pressures, the number of trips shoppers make to buy groceries plunged to 1.69 trips per week, its lowest level in the history of Trends. People shopping for groceries only once a week rose from 29% to 34% and those shopping once every other week increased eight points to 20%.
In other findings:
- Regardless of whether a shopper is making a stock-up trip to the store or a quick trip, 46% of shoppers pay for groceries with a debit card, followed by 30% who use credit. Only 15% of transactions are paid by cash and even fewer by check.
- Shoppers spend an average of $97.30 per week on groceries in 2011, more than three-quarters of it at their primary store.
- The majority of shoppers drive less than five miles to their primary store, but 60% do not shop for groceries at the store closest or most convenient to their home. Two thirds of respondents (67%) say the No. 1 reason they bypass the closest store was to seek lower prices. Another important factor in selecting a primary store was great selection and variety cited by 23% of shoppers.
- Nine in 10 shoppers visit a full-service supermarket at least once a month. Nearly 60% visit a supercenter once a month, followed by warehouse club stores (27%).


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Workers process shrimp, one of Vietnam's export staples to the U.S., at a factory in Mekong Delta. (Photo: Bloomberg)
Trade between the two countries hit $4.49 billion in the period, the highest value since the start of the year, data of the U.S.’s Department of Commerce (DOC) showed.
According to the General Department of Vietnam Customs, the Southeast Asian country had a trade surplus of $16.5 billion with the U.S. between January and August.
During 2014, Vietnam’s exports to the U.S. reached $30.6 billion while its imports from the American market were $5.73 billion, leading to a trade surplus of $24.85 billion, larger than a trade surplus of $19.62 million in 2013, according to the DOC.


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It looks like our immature, underdeveloped 3G wireless network infrastructure hasn’t stopped the US from passing-up Western Europe in terms of 3G subscribers. According to comScore, 28.4% of US wireless subscribers have hopped on board the 3G bandwagon. Compare that to the 28.3% of western European wireless customers with 3G handsets in tow, and it’s apparent that the US has edged past Europe in 3G market penetration.
The US has seen an 80% increases in 3G usage since last year, which is impressive to say the least. With 3G handsets like the iPhone 3G and the Samsung Instinct burning up the 3G networks of AT&T and Sprint alike, it makes sense that the US has one-upped Europe in the 3G-game. And, with all new worthwhile handsets sporting 3G radios, the US isn’t likely to see much decline in 3G usage.


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Qoruz, leading marketing technology firm, today announced the launch of its new influencer intelligence product, Recon. This latest addition to Qoruz’s product suite helps marketers get better insights into every influencer for their brand, competitor and the industry. Recon is currently available for Facebook, Instagram, Twitter and YouTube and will be available for other social networks in the coming months.
Praanesh Bhuvaneshwar, Chief Executive Officer, Qoruz, said, “We are very excited to bring Recon to the marketers who have always wondered if they are engaging the right kind of influencers. In the present, marketers use social listening tools that draw insights from metrics based on the content mentions but has limited relevancy when it comes to measuring the influencers. Now they can use data analytics and artificial intelligence to create more impact”.
The USP of Recon is that unlike social listening tools which have campaign centric tracking, it provides intelligence based on historical data and helps evaluate influencers and their effectiveness more accurately and in real-time. It also allows marketers to analyse campaigns at influencer level, track overall brand-influencer health and benchmark influencer led campaigns against competitors. “We have already seen great response for the product from Brands, PR and digital agencies in beta stage, and we are positive that it will change the way influencer marketing industry works in no time”, Praanesh added.
Using Recon, marketers can use new metrics like active Influencers, expertise distribution, category distribution, sentiment analysis and sphere of influence. Recon also helps the marketers by rating every influencer with a Qoruz Score™, a ranking system developed by Qoruz.
Prabakaran B, Chief Technology Officer, Qoruz commented, “With the help of the Qoruz Engine, for the first time, marketers can unlock new data on the influencers, like their Sphere of Influence, a complete view of what kind of audience they have, their demography, interests etc. That’s something every marketer needs to find the right influencer but they didn’t have. Now they can get all that information with a single click!”
Recon is powered by Qoruz Engine, company’s proprietary advanced AI platform, that uses deep technologies and machine learning algorithms to analyse social data, and help marketers decode and discover the most relevant social influencers.


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Concerns over the health of the economy are far from over, as evidenced by a SymphonyIRI Group survey released Wednesday that found consumers are taking even more steps to save money due to their ongoing financial concerns, including turning to the Internet in search of the best deals.
The National Advertising Division of the Council of Better Business Bureaus earlier this month determined that Rexall Sundown has supported claims regarding the company’s Osteo Bi-Flex glucosamine HCL and vitamin D3 dietary supplement.
Perrigo on Wednesday announced that its closing date to complete the acquisition of Paddock Labs — a generic pharmaceutical and specialty over-the-counter products manufacturer — has been delayed by an extended Federal Trade Commission review.
In an effort to help those suffering from acne, La Roche-Posay has introduced its new Effaclar K Daily Renovating Anti-Relapse Acne Treatment 1, a daily treatment to address the ongoing, recurring life cycle of acne.
McNeil Consumer Healthcare on Tuesday initiated another recall at the retail level of one product lot (60,912 bottles) of Tylenol extra strength caplets in 225-count bottles because of a small number of odor reports, including a musty, moldy odor.
Men's grooming continues to be an important focus for many retailers as evidenced by Ulta, which reportedly is rolling out men's grooming boutiques inside the vast majority of its stores by early August, according to a Reuters report.
Legislation has been introduced that would require stricter labeling requirements of cosmetics and personal care products and give the Food and Drug Administration recall authority for products that are misbranded, adulterated or otherwise fail to meet safety standards.
Smarticle Industries on Wednesday announced the launch of StingOut, a product designed to soothe the sting of the box jellyfish and the Portuguese man-of-war, which has been found in waters from Texas and Florida to the northeastern United States.


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Shock Absorber has been unveiled as the sports bra partner of women’s running community This Mum Runs.
As an official supporter of This Mum Runs, Shock Absorber will educate the community about the importance of wearing the correct sports bras while running. Product launches and news will be shared across This Mum Runs’ digital channels as part of the agreement.
This Mum Runs has 50,000 members and organises hundreds of free weekly runs led by Run Angels, specially-trained local volunteers who plan run routes and ensure members feel welcome and safe.
Shock Absorber will celebrate the women of the This Mum Runs community with a monthly brand ambassador programme, through which individuals will be nominated by community leaders to share their stories across the two properties’ social platforms. A selection of Shock Absorber products are also available on the This Mum Runs online store.
This Mum Runs Founder Mel Bound said: “It is so important to wear a properly fitted sports bra when you run to help make doing physical activity more comfortable, especially during and post-pregnancy when your body changes.
“This exciting new partnership with Shock Absorber – with their brand expertise and product innovation – will support our community, quite literally, on their running journey, making for happier and healthier mums, which is what This Mum Runs stands for.”
Heather Nogueira, Head of Marketing, Hanes Brands, added: “This partnership is extremely important to us at Shock Absorber. It presents a fantastic opportunity to connect with active women across the country and educate them on the benefits of wearing an effective sports bra during their runs with This Mum Runs.”
Shock Absorber has worked with The University of Portsmouth on research that has found breasts move up to 14cm when unsupported during exercise, and that 80% of women are wearing the wrong-sized sports bra.


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Views: 116 Author: Site Editor Publish Time: 2018-07-26 Origin: Site
UPL Ltd is close to buying the farm pesticides business of investor Bill Ackman’s Platform Specialty Products Corp.—known as Arysta LifeScience—for more than $4 billion in one of the largest outbound deals by an Indian company, three people aware of the matter said. The announcement could happen as early as this week, said one of the three people on condition of anonymity. “It will be a leveraged deal,” said a second person. UPL has arranged funds from a consortium of lenders, including a Japanese bank.
The Arysta acquisition will help UPL enhance “its solutions to fit local farming needs” and bring in synergies that can benefit its operations in overseas markets, a third person aware of the matter said. The acquisition will also boost UPL’s agrochemical and crop protection business.
An email sent to a public relations representative of Platform and its communications department remained unanswered. Anand Vora, chief financial officer of UPL, declined to comment.
Bloomberg on 19 June first reported that a consortium, including chemical producer UPL, is in exclusive talks to buy Platform’s agricultural pesticides business. The consortium of investors include sovereign wealth fund Abu Dhabi Investment Authority, the report said.
On its website, Arysta claims to employ about 3,000 people. The farm pesticides business accounted for about half of Platform’s $3.8 billion in sales last year.
UPL, earlier known as United Phosphorus Ltd, started as a manufacturer of red phosphorus, used in safety matches and pesticides, in 1969. The company’s revenue at the end of year ended 31 March was ₹ 17,378 crore.
On 18 June, Platform said that it was in talks with several parties for an acquisition of or investment in Arysta and it has entered into exclusive discussions with a potential acquirer of the business.
“As we have repeatedly emphasized, we will choose the path for our separation that we believe creates an optimal outcome for our shareholders,” Platform’s Indian origin chief executive Rakesh Sachdev said in a statement.
Platform was earlier in advanced talks with Wilmcote but the talks collapsed.
India’s National Center for Agricultural Economics and Policy Research has targeted to boost food grain production by 1.3% annually to 280 million tonnes by 2020, in line with expected demand to increase 50% and 70% by 2050. The world’s population is expected to grow to 9 billion by 2050 from 7 billion now.


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GameStop (GME) spikes after naming Chewy cofounder Ryan Cohen as e-commerce lead
The hiring of Chewy founder Ryan Cohen as e-commerce lead sends GameStop (GME) stocks rising again.
GameStop (GME) continues to be an unpredictable stock, as its value has repeatedly skyrocketed following the short squeeze that took place earlier this year. Now, GameStop (GME) is on the rise once again following the news that the gaming retailer has hired Ryan Cohen, the cofounder of Chewy, as its e-commerce lead.
On Monday, March 8, GameStop announced that it would be selecting Chewy cofounder Ryan Cohen to lead its e-commerce efforts. Cohen will serve as Chairman of a new committee formed by GameStop’s board, as reported by NBC. This is far from the beginning of Cohen’s history with GameStop, as he invested into the retailer back in 2020.
Ryan Cohen’s investment in GameStop (GME) played a key role in the stock’s boom back in January, where we saw it reach all-time highs. Following the news of Ryan Cohen being tapped to lead the company’s e-commerce initiatives, GameStop (GME) spiked yet again, jumping roughly 11 percent in value.
Most recently, we saw GameStop’s (GME) stock soar last month just before the market closed on February 24. With Ryan Cohen being a favorite amongst GameStop investors, it’s no surprise that his hiring as e-commerce lead influenced another jump in value. For more on the latest with GameStop (GME) stick with us right here on Shacknews.
Donovan Erskine posted a new article, GameStop (GME) spikes after naming Chewy cofounder Ryan Cohen as e-commerce lead


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Recently, controversial YouTube star Logan Paul has made statements promising to refund all purchases made on his latest venture, a digital collectibles platform known as CryptoZoo. However, there’s a catch – you can only get your money back if you agree not to sue him.
Paul’s latest business venture, CryptoZoo, allows users to buy and sell digital creatures using cryptocurrency. The platform was met with mixed reactions upon its debut, with some praising Paul for his innovative approach to the digital collectibles market, while others expressed skepticism and concern about the potential risks involved.
In a recent statement, Paul admitted that CryptoZoo had encountered some technical difficulties and issues with its servers, leading to frustration and disappointment among early adopters. As a result, he has pledged to provide full refunds to anyone who purchased digital creatures on the platform, with one major caveat – they must sign a legal agreement waiving their right to sue him or any of his entities.
This move has sparked criticism and controversy, with many questioning the ethics and intentions behind Paul’s offer. Some argue that it is a transparent attempt to mitigate potential legal action and protect his reputation, rather than a genuine gesture of goodwill towards disappointed customers.
In response to the backlash, Paul defended his position, stating that the refund offer was a sincere attempt to make things right and provide a fair solution to those who felt let down by CryptoZoo. He also emphasized the importance of protecting his business interests and avoiding unnecessary legal disputes.
Despite Paul’s justification, the backlash against his refund offer continues to grow, with many expressing outrage and frustration at his attempt to impose legal conditions on what should be a straightforward and uncomplicated act of customer service.
It remains to be seen how the situation will play out and whether Logan Paul’s pledge to refund CryptoZoo purchases will appease disgruntled customers, or further tarnish his reputation in the digital collectibles market. One thing is certain – this latest controversy is a reminder of the complex and often contentious relationship between influencers, business ventures, and consumer trust in the digital age.


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Rockley Photonics announced that it will commence trading on the NYSE under the new ticker symbol ‘RKLY’ starting today.
The platform is positioned to revolutionize consumer health and wellness by enabling continuous, non-invasive monitoring of multiple biomarkers, including core body temperature, blood pressure, body hydration, alcohol, lactate, and glucose, among others.
- Galvanic Skin Sensor technology on wearables is just getting started
- Samsung Galaxy Watch 4 vs Galaxy Watch 3. Time to upgrade?
- Samsung Galaxy Watch could feature a Body Fat estimation function before Apple Watch
- Apple hiring new project personnel for a Class II Medical device
Rockley is working closely and deeply with some of the world’s largest manufacturers of consumer electronics and wearables to provide them with a “clinic-on-the-wrist” digital health sensor system.
According to the filing prospectus,
Rockley believes that its operating results for the foreseeable future will continue to depend to a significant extent on revenue attributable to a few large customers, including Apple Inc., Rockley’s largest customer, and Hengtong Rockley Technology Co., Ltd. (“HRT”).
Rockley’s two largest customers ( Apple and HRT) collectively accounted for 100% and 99.6% of Rockley’s revenue in 2020 and 2019, respectively. Revenue attributable to Rockley’s largest customer accounted for the majority of its revenue in 2020 and 2019, respectively.
The company’s sensor platform is not only being targeted at Smartwatches but the company is also expected to launch sensors to support health monitoring via ‘hearables’ , according to the product road map.
Rockley also has plans to launch a cloud-based subscription service.
Given the product road map, we expect the new sensors to be on an Apple device by 2022 / 2023. Since the company said that their 2019 revenues were attributed to Apple, it remains to be seen what if any components show up in the upcoming Apple Watch Series 7.


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Google, Amazon fight over your wallet
The two tech giants are colliding as they fight for customers in areas far from their original core businesses.
Amazon.com and Google are not the first tech conglomerates to duke it out, but the search engine and e-commerce giant have notably ventured far beyond their original services -- sometimes in ways you might not expect.
On March 28, Google put the rumors to rest and officially announced it would be testing local, same-day delivery in San Francisco. Google's foray into such a service is a concerted effort to compete with other same-day shipping retailers, perhaps most notably Amazon, which has offered its Prime members 2-day shipping since 2005, and earlier this year launched an expedited same-day delivery service in 10 cities.
To compete, Google Shopping Express aims to offer local Bay Area residents same-day delivery for orders placed with participating retailers. Local Toys R Us, Staples, Target and Walgreen stores, and even regional shops like Blue Bottle Coffee, are taking part in Google's day-of delivery program, which is made possible in part by Google's acquisition of Bufferbox. Not only are orders filled same-day, Bufferbox also offers storage lockers for deliveries, so shoppers never miss a delivery. Similar to Amazon Lockers, Bufferboxes make it easy for customers to pick up their goods at their convenience.
Founded in 1995, Amazon.com started as an e-commerce website; its name is now nearly synonymous with online shopping. With Amazon's position as a megastore and platform for nearly 2 million third-party retailers, 30% of America's online shoppers look to the e-tailer before searching Google. This certainly poses a threat to Google as it vies to remain a relevant search engine in the retail realm. In a renewed effort to do so, Google Shopping was revamped last year to include sponsored links and paid product listings; notably absent in shopping results were Amazon listings. The new Google Shopping sent 96% more traffic to retailers than Amazon did in the last quarter of 2012, making it a hot contender for merchants looking to direct traffic to their own websites.
The Nexus 7 and Kindle Fire HD are direct competitors in the land of 7-inch tablets, and both are built around the content of their respective brands. While the Kindle Fire (and its iterations) may be a top-selling item on Amazon -- and a possible Amazon smartphone could bring a similarly large market share to the company -- Google already has its feet firmly planted in the smartphone industry. The Google Nexus 4 isn't perfect, but the company's partnership with LG makes this Android smartphone a contender for the anti-iPhone crowd.
According to The Economist, Amazon.com was the source of about two-thirds of all digital book downloads in the U.S. last year. With an environment flush with digital music, TV shows and movies available on demand (and other content free to Prime members), Amazon boasts a broad range of streaming content. Google, too, offers similar content via Google Play, and it's the parent of YouTube, but its digital offerings are much smaller and lackluster in comparison.
Both companies jumped on the daily-deal bandwagon in 2011, with the launch of Google Offers and AmazonLocal. Despite Groupon rejecting Google's billion-dollar acquisition offer last year, Google Offers promotes deals arranged by other daily deal sites (like Gilt City) in addition to its own locally sourced offers. As for Amazon, the company owns nearly a third of LivingSocial, allowing it to strategically source LivingSocial deals within its own service. Still, both daily deal iterations have failed to beat out the original heavyweight, keeping Groupon at the head of the pack.
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- The trade war between China and the U.S. could result in an annual loss of $40 billion in U.S. exports, Industry Week reported citing research by the Institute of International Finance.
- This impact can be seen at Asian ports where empty containers accounted for more than a quarter of all TEU traffic, according to The Loadstar.
- None of this is great news for ocean carriers that make their money by hauling freight, not empty boxes, and could lead to higher annual contracts in the future, according to The LoadStar.
Perhaps the fundamentals of launching a trade war with China have merit. The theft and mistreatment of intellectual property, a potential monopoly around 5G cellular technology and market damaging dumping of some commodity products reflect an economic approach that has impacted the U.S. economy. The use of tariffs as an economic disincentive to penalize China for these activities is certainly one way to get their attention and to seek a negotiated solution.
Successful supply chains depend on long term stability. The politicization and mercurial approach to the application of tariffs on China, as well as the threats of tariffs on other countries, have created economic uncertainty. Public negotiations, often driven by social media, are not helpful at best and confusing and counterproductive at worst. Successful planning is proactive, not reactive.
The impacts of the tariffs can be felt throughout the supply chain. Tariff related cost increases are already being felt by many organizations and they are being passed on to customers and end users. Supply chains have been disrupted, and modified, because of current and threatened tariffs. Inventory has been purchased to hedge against increased costs, impacting operations and planning throughout the supply chain. Exports of certain agricultural products are down, forcing the U.S. government to provide subsidies to the growers most impacted.
The imbalance of shipping containers is but a symptom of misaligned supply and demand caused by the ongoing trade skirmishes. But it is also an indicator of real impact on the supply chain. No matter the political positioning, the tariffs have caused uncertainty in a process that thrives on consistency and dependability. While the trade issues with China now hopefully look like they may be resolved in the short term, long term ramifications in the supply chain are just coming into view.


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Some people have them stuffed or even made into rugs. A few have them cloned, although most people are content to keep a photograph on the shelf.
Now scientists in Japan have come up with a new way of perpetuating the memory of a deceased cat or dog: turning part of it into a pearl necklace.
A company in Nagasaki has devised a way of growing a cultured pearl from a core consisting of a bone fragment. For £3,300, and after a year’s wait, the bereaved owner can give their furry friend a rare kind of immortality.
“If we can soothe the grief of the owners who have lost their pets, we will be glad,” Tomoe Masuda, head of the cosmetics company WBE, which is…


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MARYVILLE, Tenn., Jan. 19, 2017 /PRNewswire/ -- Clayton Homes, one of the largest builders of manufactured, modular and site-built homes combined, designed a special edition manufactured home to celebrate 60 years in business. The Clayton Built™ Anniversary Home is available with the Energy Smart upgrade that includes Low-E windows, a programmable thermostat and several other energy efficiency features.
Clayton Homes started business in 1956 when founder Jim Clayton sold his first home. Since then, the company has evolved into a world class housing leader in building site-built homes, modular homes, "tiny" homes, barracks and dormitories, in addition to manufactured housing. Clayton has sold 828 of the Anniversary model home to date.
"I'm so proud to continue the tradition my father, Jim Clayton, started – making the dream of homeownership a reality," said Kevin Clayton, CEO of Clayton. "Over the past 60 years, we've welcomed families home to well-built, affordable, sustainable housing with smart storage, thoughtful amenities and room to grow."
The Clayton Built™ 60th Anniversary Home is 1,216 square feet with three bedrooms, two bathrooms, eight-foot ceilings, sliding glass doors and recessed lighting. Stylish details include a wood entertainment center with built-in shelving and a farmhouse kitchen sink with sprayer. The master suite has a 72-inch "glamour tub," a 48-inch shower and dual sinks. Energy Smart features include Low-E insulation and R22-11-33 Insulation which lowers heating and air costs for homeowners.
Clayton is a builder that uses sustainable building practices, having received the ISO 14001 registration on all 39 of its homebuilding facilities. This means the company has instituted international measures designed to reduce the cost of waste management and lower energy consumption. These green practices will lead to reduced waste, decreased energy consumption and the promotion of recycling building materials that allow Clayton to continue providing homeowners with affordable, smart homes.
Lifestyle bloggers Elizabeth and Dale Phillips purchased a new Clayton Built™ Anniversary home after spending a year remodeling older manufactured homes. They featured the home in a recent blog article on their website, PhillipsPlace.
"We did our homework, and this model was far and away the best value for us," said Dale Phillips. "We were able to customize the space to suit our tastes, replacing appliances and turning the living room into a dining room."
To check if your local retailer has a 60th Anniversary home on display, visit Come See a Home to view the store's listings available.
Clayton Homes was founded in 1956 and is proud of its history of providing affordable, quality homes. The Company is a diverse builder offering traditional site-built homes, modular homes, manufactured housing, "tiny" homes, college dormitories, military barracks and apartments. In 2016, Clayton built more than 41,000 homes. Clayton is a Berkshire Hathaway company. For more information, visit claytonhomes.com.
SOURCE Clayton Homes


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Like a celebrity more popular in death than in life, Hewlett-Packard's TouchPad tablet, discontinued last week, is selling out everywhere at heavily reduced prices. Now HP says it will release more TouchPads from its inventory and that it will continue to support webOS in some ways.
Last Thursday, HP announced it would no longer manufacture devices using its webOS platform, which it obtained when it bought Palm for $1.2 billion in 2010. By Monday, the tablets were selling at $99 for the 16GB model, which was $499 when first released in July, and $149 for the 32GB, formerly $599. That radical price drop led to a run on the remaining tablets, with the HP web site, Best Buy, Amazon.com and other retailers reporting sellouts.
On the HP company blog, The Next Bench, PR Manager Mark Budgell wrote that, although there has been "great response" to the fire-sale prices, TouchPads are "temporarily out of stock on hp.com and at some local retailers."
But, he added, "the good news is that we will have more available shortly." The company has set up an e-mail sign-up so prospective customers can be notified when more tablets become available.
Budgell also wrote that HP is "fully committed to providing support and service" to customers who bought webOS devices.
Avi Greengart, an analyst with industry research firm Current Analysis, said HP "is finding new inventory because they got a lot of it back" from Best Buy when the tablets weren't selling at the original price.
He said HP is "taking a bath" selling the remaining TouchPads, and is delivering mixed messages about webOS support. The company, he noted, is saying it will no longer be making the hardware, but is keeping the OS alive, and that it's not investing in the OS, but will be providing updated versions.
'A Terrific OS'
WebOS is, "technically, a terrific OS," Greengart said, but it has no developer support, now has no continuing hardware platform, and looks like it doesn't "have any future."
He said it's likely the buyers of the discontinued TouchPads are hackers "getting them because they offer hacker toys" -- that is, a platform on which to experiment.
Some observers have noted that the run on the tablet once it dropped to $99 indicated that consumers were waiting for a low-priced tablet, but Greengart said any maker of a $99 tablet would lose a bundle.
Such a strategy could conceivably use the game-console model, he said, where hardware is sold at a loss and the money is made in licensing fees from games. But that is "really hard to do when you're talking about a percentage of a 99-cent app," he noted.
A group of hackers recently announced their intention to port Android to the TouchPad, creating what they're calling the TouchDroid. But others have noted that the device then becomes just one more Android tablet.
Posted: 2011-08-27 @ 11:15pm PT
There's a generation who just browse and email, so for $99 or $149, it's a big plus. Let's have something for the non-techies and geeks!
Posted: 2011-08-25 @ 6:54pm PT
A $99 Paper Weight.
Posted: 2011-08-25 @ 5:15am PT
yet another Android tablet... but a $99.00 Android Tablet.
Posted: 2011-08-24 @ 9:41pm PT
Posted: 2011-08-24 @ 5:42pm PT
I cant wait to get one
Posted: 2011-08-24 @ 1:03pm PT
this is awesome
Posted: 2011-08-24 @ 12:41pm PT
HP.. OH HP... the touch pad was the only competitor to the IPad in Function... time to sell off that HP stock
Willie N. Faulkner:
Posted: 2011-08-24 @ 12:20pm PT
HP management should have been more aggressive in insuring that the touchpad that was developed was compatible with Apples's ipad from a technical, application and a performance standpoints. Also a top notch quality procurement department has become a lost profession at most companies. What you have now are people that only know how to place a P.O. for raw materials. You need very skilled senior procurement people that know how to reduce costs, in other words you need the best Senior Buyers, and Component Specialist that are proficient in keeping component cost down, getting on time delivery and working closely with the legal department to put the best flexible material contracts in place with quality suppliers; with emphasis on volume purchasing, low cost, quality, and on time delivery and year to year costs reductions working with a manufacturing management group that understand the synergy between procurement and manufacturing. There are excellent engineering and development people, i.e. application developers, and product engineers, but if you do not know how to go after quality suppliers with the best procurement people, and the best purchasing practices, you end up with devices that costs hundreds of dollars more than they should.What is wrong with a ROI of 30% on a touchpad? Lower Overhead costs and procurement costs, and go get some of the best developers in the world and never let an inferior product out the door until you know it measures up to Apple's ipad. A superior product at a lower sale costs could have been achieved as a challenge to Apple. You play only to win, not to come in second or third. There are too many white shirt eggheads that do not understand the dynamics of procurement because it is not as glamorous as application development. HP management bungled the touchpad. Give me the Bill of Material and the number of units to be built and a little lead way in sourcing suppliers and the material costs and perhaps unit price for these devices could have been lowered significantly;If overhead and on hand inventory was under control. You must have a cross integration of departments, from development through manufacturing that understand costs at every level of the process and work to achieve costs reduction at every level.


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Globalisation is a divisive subject – some see it as a blessing, others as a curse. Regarded as a standardisation of business and cultural features around the world through the diffusion of commodities and ideas, the phenomenon has grown through various means including – but not limited to – E-commerce, international travel, currency banking, popular culture and wireless communications.
For many – both critics and champions of globalisation – the concept is widely laid at America’s door. Certain US-based sportswear, burger chain, coffee shop and soft drink brands in particular seem to be constantly highlighted as the most prominent symbols of globalisation.
However it would be wrong to interpret globalisation as “Americanisation”, as many brands from outside its borders have infiltrated the USA to become market leaders and therefore spread their own nations’ influence among consumers and other stakeholders. This is an important thing for British businesses to note – the American market can be cracked by overseas organisations, and indeed it may well prove to be your most important market.
One only needs to look at the car industry – once one of the strongest bastions of American industrial supremacy. The 2014 table for the top ten selling vehicles in the US marketplace has products by home grown Ford, Chevrolet and Ram in the first three places. Ford also pops up in tenth place with its Fusion, but the rest of the table is made up by Japan’s Toyota, Honda and Nissan. While the top three spots may belong to Michigan, collectively the Japanese brands beat their American counterparts in terms of number of vehicles sold in that top ten.
Taking a leap from cars to furniture, a recent list by Furniture Today showed that the American flag flew high for US furniture stores by sale… with one foreign company shaking things up. Wisconsin based Ashley Furniture Home Stores was in first place, but it was Swedish giant IKEA in number two – far ahead of well known American names like Crate & Barrel and Pier 1 Imports.
With all respect to the Ashley brand, IKEA is undoubtedly the best known brand – frequently appearing in American pop culture, from shopping scenes in the movie (500) Days of Summer to a thinly disguised parody in The Simpsons. More importantly, the USA is the second biggest market (after Germany) for this distinctly Swedish brand now headquartered in the Netherlands.
These are of course large scale examples, and indeed only scratch the surface when looking at America’s acceptance of overseas brands. But similar trends have involved across the business spectrum – particularly with regards to luxury, niche and specialist brands. Could your business be big in Boston or huge in Houston? Opening a currency account will assist you in researching and laying foundations for that pursuit of the American dream.


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NASS Objective Estimate
Senior Vice President
The USDA released its 2016 California Almond Crop Objective Estimate, projecting a crop of 2.05 billion lbs. The estimate was based on the 900,000 bearing acres released in April, resulting in a projected yield of 2,280 lbs./acre.
The nut count per tree increased 4.9%, to an average of 6,159 per tree for the 2016 crop. This remains well below the counts from 2011 through 2014.
The average kernel weight increased 3.5% from last year’s estimate, growing to 1.48 grams from 1.43 grams in 2015.
Market Perspective –
The outlook for the 2016 crop has been in the 2.10 to 2.15 billion lb. range in recent weeks. The Objective Estimate reduces risk that the 2016 crop is above that range. With the 900,000 bearing acres representing a trailing indicator, perceptions of the crop will remain largely unchanged. Pricing on current and new crop has been in a relatively tight band, and is likely to remain that way for the foreseeable future. The moderate increase in projected supply bodes well for more stable pricing and a more predictable environment as the 2016 crop is harvested and sold.
The next data update is the ABC Position Report scheduled for Tuesday, July 12.
To view the report online click below:


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Whether the ministry of commerce has taken over the president's lead in recommending tariffs for all imported cars is not clear. But such a move would face resistance in the West Wing. "There is not much support for auto rates," said a senior CNBC administration officer. "Only one opinion of one person matters."
In July 2018, President Trump called Twitter for 20% fares for foreign cars, and in November he raised the offer to 25% after General Motors cuts.
Business groups are already warning about economic impacts. A new study by the Center for Automobile Research found that a 25% fare for cars and parts would increase the cost of the car by an average of $ 2,750 and 366,900 jobs will be lost in the United States. His analysis is a major factor in the exceptions for South Korea and suggests that Canada and Mexico will also be released under the still-pending US-Mexico trade agreement.
Free trade republics are building new tools to repel if the president introduces new tariffs for national security
Sen. Pat Tomami (R-PA) last month submitted a bill that would give Congress sixty days to approve all proposed tariffs under Section 232. It will also be applied retroactively to the steel and aluminum tariffs by giving Congress 75 days to adopt a decision approving these tariffs.
Sen. Toomi says he has heard from dozens of companies in Pennsylvania who use steel and aluminum products that have been hurt by the rising cost of materials. "We saw that this administration was using this tool in a way that was never meant to be," said Toomi.
Sen. Robert Portman (R-OH) also proposes to pay attention to what he sees as a misuse of national security in trade struggles. According to his proposal, the Pentagon will initially decide that a tariff is needed rather than the Ministry of Commerce. Congress will have the right not to approve these measures.


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Coronavirus shelter-in-place orders have been in place for less than a month nationally, but consumer media habits are already massively changing.
Streaming is the clear winner of social distancing. From March 9 to March 16, total streaming time grew to 156.1 billion minutes per day in the United States, compared to 127.6 billion minutes during the last week of February, per Nielsen. In March, streaming accounted for 23% of consumer TV viewing time, up from 21% in February and 14% a year ago.
Meanwhile, live TV viewing grew between 1% and 3% during the last week of March across all demos, while streaming increased up to 8% during the same time period. NBCU saw an 80% spike in viewership across its digital assets in March compared to a 20% increase in linear TV viewing.
Homebound people are streaming more TV during the daytime. Streaming between 10 am to 5 pm grew 39% during the week of March 17 to 23, compared to the previous week, Conviva found. Meanwhile, prime-time viewing declined by as much as 5% between 8 pm and 11 pm.
“Prime time is starting nine hours earlier than normal,” said Conviva CEO Bill Demas. “Even if people are working from home and kids are distance-learning, streaming accelerates at 10 am and goes throughout the day.”
In APAC, where people are slowly getting back to work, streaming hours decreased 10% between March 17 and 23, according to Conviva. That dip offers a preview of what may happen in other regions as lockdown restrictions ease.
“Streaming will go down as people go back to work,” Demas said. “But the rollback into work will take months. How many habits are formed in that time because people got used to streaming?”
Ad dollars, however, are likely to lag until the economy gets back on track and the industry creates a common currency and measurement standard for streaming that brands can trust.
What are people watching?
Netflix is the SVOD player gaining the most traction, with people spending 29% of their total streaming minutes with the platform during the week of March 16, per Nielsen. Nine of the top 10 streamed shows during the second week of March are on Netflix.
Netflix is followed by YouTube, where people are spending 20% of their streaming minutes, followed by Hulu at 10% and Amazon at 9%.
But 31% of streaming minutes are spent on other platforms, meaning that ad-supported viewing could be seeing a boon as the economy crumbles.
Well-funded, top-tier players such as Netflix and Amazon appear to be best-positioned to weather the storm, as are smartly packaged bundles such as the $13-per-month Disney Plus, Hulu and ESPN combo.
What about linear?
Without live sports, linear TV is hanging on by the thread of local news and increased daytime viewing during the pandemic.
Viewing of live local news grew 7% across demos from early February to the week of March 9, with adults over 25 spending 30.4% of their TV consumption time watching local news during the same period, according to Nielsen. Ratings increased 3.5% to 12.5% across local markets as more people tune into the news to find out what’s happening where they live.
Daytime cable news viewing skyrocketed 347% year over year during the last week of March, growing 50% more than total TV viewing time during the same period, according to Samba TV.
But people are also turning to social media for local news. During March, local news engagement climbed 196% on Twitter, 62% on YouTube, 34% on Instagram and 15% on Facebook, according to Conviva.
“Local news is so important because every area is [responding] differently,” Demas said. “But when the pandemic ends, is local news less vital or urgent?”
Linear TV will also be hit by a lack of live sports. Roku found viewers who watched live NHL and NBA games in February increased their streaming time between 58% and 63% in the first three weeks of March, while their linear TV viewing was flat.
If the NFL season can’t start on time this year, linear TV might be in even more trouble.
“The main driver of linear TV is NFL football,” Demas said. “Where is NFL football come August and September?”


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Australian winegrape prices increase, Wine Australia Vintage Report 2016
Wine Australia has reported an increase in the average purchase price of winegrapes in its Vintage Report 2016 released this week.
According to the report, across the past 12 months, there was also a six per cent increase in the total amount of grapes crushed for making wine, resulting in an estimated 1.81 million tonnes of grapes.
The average price paid for wine grapes grew by 14 per cent to AUD $526 per tonne across Australia, the highest average price since 2009.
Chief Executive Officer of Wine Australia, Andreas Clark, said it was encouraging to hear reports of quality grapes translating into an increased average purchase price.
“In the last 12 months, we’re seen Australian wine exports grow to AUD $2.11 billion and the strongest growth has been in wines of $10 or more per litre Free on Board (FOB),” Clark said.
“This increased enthusiasm for our fine wines internationally is helping to support a stronger demand for premium fruit in Australia,” he said.
The report shows that the amount of premium fruit sold for more than AUD $1, 500 per tonne increased to account for 7 per cent of the total crush in the year.
Key wine prices
- Red Wine Grapes: The average price paid for red winegrapes increased by 13 per cent to AUD $651 per tonne.
- White Wine Grapes: The average price paid for white winegrapes increased by 12 per cent to AUD $398 per tonne.
- Premium Shiraz: Shiraz costing more than AUD $1, 500 per tonne, increased to account for 7 per cent of the year’s crushed grapes.
- Premium Cabernet Sauvignon: Cabernet Sauvignon costing more than AUD $1, 500 per tonne saw its national average price increase by 17 per cent.
- Red Wine Grapes: The average price paid for red winegrapes increased by 13 per cent to AUD $651 per tonne
Winemakers’ Federation of Australia Acting CEO, Tony Battaglene, said that the Vintage Report 2016 shows the weighted average price for winegrapes have increased over the past two years.
“It’s not uncommon to see peaks and troughs across vintages due to different factors such as fluctuations in demand,” Battaglene said.
“However, this year, there is an increase in pricing for the second consecutive year and an increase in the overall crush, which is encouraging. We need to remain pro-active as a sector to continue to grow demand, particularly in our key export markets of the United States and China,” he said.


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The financial results may not be the best, and even the sales leader, Apple, has suffered from the instability of the global economy.
But even so, the Cupertino company has reason to celebrate. It just hit a new milestone, surpassing two billion active devices worldwide.
Apple now has more than two billion active devices
Recently, the Cupertino company announced its financial results, referring to the first quarter of 2023. The news was not the best. The brand registered a fall of 5%, compared to the same quarter of the previous year.
But aside from this less-than-promising financial report, Apple has reason to celebrate. All because the Cupertino company already has more than two billion active devices around the world. As it should be, Apple proudly made this announcement, adding that its base continues to grow.
On the other hand, the company’s services area also reached a new revenue record of US$20.8 billion, which exceeds estimated forecasts of US$19.5 billion.
Making the direct currency conversion, Apple achieved, in services, a revenue of 18.960 million euros, instead of the estimated 17.770 million euros.
These revenues were achieved with 935 million paid subscriptions, and the company managed to increase its paid subscriptions by around 150 million compared to the previous year.
According to Tim Cook, Apple’s executive director, and Luca Maestri, the company’s chief financial officer, these results were achieved thanks to customer loyalty and also to the acquisition of new users, coming from rival brands such as Samsung.
Several smartphone manufacturers have noticed that sales in the premium segment are increasing. Now, considering that practically the entire series of iPhones falls into this segment, the company has been less affected than other brands that have a strong presence in the entry and mid-range segment, such as Xiaomi.


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China is rapidly transitioning into a digital society where every aspect of life is being seamlessly integrated with technology. The COVID-19 epidemic this year has only accelerated these digital trends, triggering a sudden boom in the digitization of various areas like shopping, jobs, services, and so on.
5 of the most impactful digital trends shaping China in 2020
Since the viral outbreak has forced most people to remain at home, a boom in streaming was inevitable. During Q1 2020, the average time spent by a Chinese citizen on mobiles grew by 30 percent to 5 hours per day, most of the time being spent on entertainment and games. According to a survey conducted by SP Global, 67 percent of Chinese citizens spent more time watching TV during the pandemic.
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Almost 56 percent were found to be spending more time watching videos online. Streaming sites have also begun to diverge from just offering movies and TV shows. During the pandemic, Kuaishou streamed content where medical professionals shared life-saving tips. Bilibili and Douyin organized online music festivals and cloud raves. The Shanghai Fashion Week was organized in virtual catwalks for the first time in history.
2. Online collaboration
There is strong growth in online collaboration tools by employees and students. ByteDance’s Lark and Alibaba’s DingTalk saw downloads surge by more than 350 percent during the Chinese New Year week. DingTalk is also being used by more than 600,000 teachers and 120 million students across China as a tool to get educated online. Both Lark and WeChat Work used to be social networks but have now become enterprise solutions as well since companies are looking at online tools to support social marketing and similar functions.
3. KOL live stream
Key Opinion Leader (KOL) live streams have exploded in popularity this year. Many of these live streams started off as thinly veiled sales pitches. But in recent times, several live streamers have focused on improving their content so as to make their presentation more entertaining and engaging for the audience, with the expectation that some will eventually buy the product being promoted.
Even celebrities have started chipping in. Actress Liu Tao sold 148 million RMB (US$22 million) worth of products for Tmall in just her first live stream. Almost 21 million people tuned in to watch her presentation. Luo Yonghao, a tech KOL, sold products worth 160 million RMB (US$23.8 million) in his first campaign.
In e-commerce, an emerging trend has stood out in China — the rising clout of the rural customer. One study by market research institute GfK showed that the number of people from lower-tier cities who shopped online for the first time during the pandemic was double the number from higher-tier cities.
Alibaba has set up a plan to cover 1,000 counties and more than 150,000 villages in China by 2021, with the aim of generating more customers and creating a direct supply chain that links urban consumers with merchants from rural places. Though the purchasing power of lower-tier cities is on the lower side, they make up for it with their numerical advantage over buyers from high-tier cities.
5. WeChat mini-programs
Mini-programs are sub-applications present inside the WeChat platform. Companies have increasingly adopted WeChat mini-programs due to the fact that it facilitates e-commerce, live streaming, sharing coupons with past or prospective customers, and so on. Since everything happens inside the WeChat ecosystem, tracking sales and other related variables becomes easy.
Popular mini-programs include games, geolocation, e-commerce stores, etc. Last year, WeChat users spent around US$115 billion through mini-programs. The number is expected to climb higher this year.


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As many as 391,000 vehicles from Infiniti and Honda may eventually need to be recalled as a result of two, separately announced Preliminary Evaluations from the National Highway Traffic Safety Administration to ascertain the scope of the potential safety hazards.
2008 Infiniti Ex35
- Mid-engine Corvette spied in daylight
- Matt LeBlanc threatens to quit Top Gear
- Best Lease Deals for June 2016


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Categories Tech News
BetterHelp sold customer data while promising it was private, says FTC
March 2, 2023
Online counseling company BetterHelp has agreed to pay $7.8 million to settle charges from the Federal Trade Commission that it improperly shared customers’ sensitive data with companies like Facebook and Snapchat, even after promising to keep it private. The proposed order, announced by the FTC on Thursday, would ban the same behavior in the future and require BetterHelp to make some changes to how it handles customer data.
According to the regulator, the sign-up process for the company’s service “promised consumers that it would not use or disclose their personal health data except for limited purposes.” However, the FTC alleges that the company instead “used and revealed consumers’ email addresses, IP addresses, and health…


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Get all set for a facepalm: 90% of credit card audience now use the exact same password.
The passcode, set by default on credit card devices since 1990, is conveniently uncovered with a fast Google searach and has been uncovered for so very long there is certainly no sense in trying to conceal it. It can be either 166816 or Z66816, depending on the machine.
With that, an attacker can get complete management of a store’s credit rating card readers, most likely permitting them to hack into the equipment and steal customers’ payment information (consider the Concentrate on ( and )Home Depot ( hacks all in excess of all over again). No surprise major retailers maintain dropping your credit history card data to hackers. Stability is a joke. )
This most recent discovery will come from scientists at Trustwave, a cybersecurity business.
Administrative access can be used to infect equipment with malware that steals credit history card info, stated Trustwave government Charles Henderson. He thorough his results at final week’s RSA cybersecurity convention in San Francisco at a presentation identified as “That Position of Sale is a PoS.”
Acquire this CNN quiz — find out what hackers know about you
The problem stems from a recreation of sizzling potato. Gadget makers provide equipment to specific distributors. These vendors promote them to vendors. But no a single thinks it is really their position to update the grasp code, Henderson explained to CNNMoney.
“No a person is changing the password when they established this up for the 1st time all people thinks the safety of their position-of-sale is an individual else’s responsibility,” Henderson stated. “We’re making it pretty straightforward for criminals.”
Trustwave examined the credit score card terminals at a lot more than 120 merchants nationwide. That involves significant apparel and electronics outlets, as effectively as neighborhood retail chains. No specific vendors had been named.
The large bulk of devices ended up designed by Verifone (. But the identical situation is current for all big terminal makers, Trustwave mentioned. )
A spokesman for Verifone mentioned that a password by itself isn’t more than enough to infect equipment with malware. The company explained, till now, it “has not witnessed any attacks on the stability of its terminals based on default passwords.”
Just in situation, although, Verifone explained suppliers are “strongly advised to improve the default password.” And presently, new Verifone products come with a password that expires.
In any case, the fault lies with retailers and their special sellers. It truly is like property Wi-Fi. If you obtain a property Wi-Fi router, it is really up to you to alter the default passcode. Retailers ought to be securing their have devices. And device resellers should be helping them do it.
Trustwave, which helps guard vendors from hackers, said that preserving credit score card devices secure is small on a store’s listing of priorities.
“Providers shell out a lot more dollars picking the coloration of the place-of-sale than securing it,” Henderson mentioned.
This difficulty reinforces the conclusion designed in a recent Verizon cybersecurity report: that stores get hacked mainly because they are lazy.
The default password issue is a critical challenge. Retail laptop networks get uncovered to laptop viruses all the time. Take into consideration a person situation Henderson investigated not long ago. A horrible keystroke-logging spy software program finished up on the laptop or computer a store works by using to approach credit score card transactions. It turns out workforce experienced rigged it to play a pirated version of Guitar Hero, and unintentionally downloaded the malware.
“It demonstrates you the degree of obtain that a great deal of folks have to the stage-of-sale atmosphere,” he reported. “Frankly, it’s not as locked down as it should really be.”
CNNMoney (San Francisco) Initial released April 29, 2015: 9:07 AM ET


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Companies producing high-calorie foods should be taxed to help tackle the 'obesity crisis', campaigners have demanded.
Action on Sugar and Action on Salt, based at Queen Mary University of London, say it would work the same way as the successful soft drinks industry levy.
Manufacturers would be forced to pay a levy to the Government if they fail to reduce excessive calories in processed foods.
The campaigners say fat is a bigger contributor to calories in the diet than sugar so companies must be encouraged to reduce both.
Graham MacGregor, professor of cardiovascular medicine at Queen Mary University and chairman of Action on Sugar and Action on Salt, said the soft drinks levy had been much more successful than expected.
It has not only reduced sugar in drinks but also produced £340m income from manufacturers to spend on improving children’s health.
Prof MacGregor said: 'The same could be achieved in creating a levy to reduce excess calories but we need a firm commitment from HM Treasury and The Department of Health and Social Care to make this a reality.'


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DUBLIN, Ohio (COLUMBUS BUSINESS FIRST) — Charles Penzone Inc., which has grown to five locations in Central Ohio, is renovating and repurposing a building it owns at its Dublin campus.
Located at 6671 Village Pkwy., the facility previously served as the foundation for the salon chain but more recently it’s been used for storage. Now, the company is developing a new concept called Penzone Base One in a 10,000-square-foot space located on the main floor of the facility.
“We were in this building until 2018 then we moved across the campus,” President Debbie Penzone said in reference to the business’ current location at 6645 Village Pkwy. “We always had the intention of coming back and trying to repurpose this landmark because it really was what launched our whole concept back around 1991.
“It’s a full circle moment for us.”
For more on this story, go to ColumbusBusinessFirst.com.


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The FTC’s unfairness authority dates back to 1913. Over time, the federal courts have said this allows the FTC to enforce the various antitrust laws (Sherman Act, Clayton Act, etc.). The courts have also held that a violation of the antitrust laws requires a showing of harm to consumers. But some FTC commissioners and antitrust lawyers who make a living litigating with the FTC think there’s a lot more to it – that Section 5 entitles the FTC to convict companies where there is no consumer harm. And they are being rallied by Google’s competitors, who stand to gain.
In the case of Google’s search results, where’s the harm? People know about search engines and click from one to another as it suits them. There’s no monopoly power here. No deception. And there can’t be overpricing – it’s free, for crying out loud.
Where the FTC has tried to “make new law” in the past, it has run into trouble. For example, in Ethyl, a 1984 case in which I, as chairman, dissented, the agency found the company guilty on an expanded reading of Section 5. The Second Circuit Court of Appeals, however, struck down the FTC’s decision, saying that it had failed “to discriminate between normally acceptable business behavior and conduct that is unreasonable or unacceptable.” Otherwise, the court went on to say, “the door would be open to arbitrary or capricious administration of Section 5.”
Another time the FTC “made new law” it ran into such fierce opposition that its very existence hung in the balance. During the late 1970s some FTC officials mused that by using Section 5 they could compel companies to include on their boards of directors representatives of labor groups, consumer groups, and others, and could find liability for contributing to pollution. This created such a firestorm that Congress refused to fund the agency, an impasse that was overcome only with the direct intervention of President Carter.
Once again the FTC is actively looking for opportunities to expand the scope of Section 5, and this time the target is Google. In response to a press inquiry about whether the agency was “investigating the online search market,” Chairman Jon Leibowitz replied, “one of the commission’s priorities is to find a pure Section Five case under unfair methods of competition.”
Some of Google’s competitors have suggested a Section 5 case based on a “limiting consumer choice” theory, whereby any activity that reduced the number of competitors in a market would be a violation of Section 5 – a view that arguably could put “big box” stores out of business and force consumers to pay higher prices. Although it is highly unlikely such cases would ever be upheld in the courts, the mere rumblings of such threats have a depressing effect on economic activity and threaten the viability of the agency.
Initiating an action against Google would be a mistake. First, there is no case here, no evidence of consumer harm, and no evidence of unreasonable or unacceptable behavior. All a lawsuit would accomplish is to waste taxpayer dollars, and reward Google’s competitors and the antitrust bar. More broadly, such an “unfairness” case would intimidate firms across all of industry, diverting their entrepreneurial efforts from serving consumers to defending themselves against a rogue FTC.
Miller served as President Reagan’s chairman of the Federal Trade Commission (1981-1985). He serves as a consultant to Google, but the
views expressed are his own.


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Asia’s economic growth and development have been unparalleled over the past 75 years. Poverty has declined continuously and more rapidly than at any time in recorded history, and significant welfare gains have been achieved. These achievements have been driven by Asia’s growing participation in international trade and global value chains, which underpin the globalization process. More broadly, globalization refers to the integration of economies that has been achieved through growing levels of international trade, finance, and investment, and through the mounting exchanges of people, ideas, and data.
Asia’s economic integration continues to hold significant promises for the region’s future growth, prosperity, and stability. Yet geo-economic and geopolitical developments of the last decade, the COVID-19 pandemic, and Ukraine-Russia conflict showed how GVCs could transmit and amplify shocks across economies, making emerging markets more vulnerable. They reinforced pre-existing concerns about external dependencies and reignited discussions about self-sufficiency and strategic decoupling for the supply of critical goods and technologies. At the same time, they also highlighted the important role that trade and GVCs could play in accelerating the recovery from external shocks.
Trends toward slower international trade growth have also been magnified over concerns that globalization have not gone hand in hand with prosperity of the planet and of broader populations. The gradually eroding support for international trade in many countries is hitting Asia at a time when the region also faces mounting economic, political, geopolitical, socio-economic, and climate challenges, which threaten to undermine economic recovery and growth following the pandemic crisis.
This briefing argues that resilience to the confluence of external risks can be built through openness and diversification. Furthermore, Asia’s future growth will greatly depend on “upgrading” globalization, to meet the United Nations Sustainable Development Goals, particularly those that pertain to environmental sustainability, economic equality, and digital inclusion.


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Published : 2013-10-27 13:39
Updated : 2013-10-27 13:39
Multinational enterprises operating in South Korea accounted for two-thirds of unpaid tariffs imposed between 2008 and 2012, data showed Sunday, drawing calls for the tightening of customs-related probes.
According to the Korea Customs Service data submitted to parliament, the amount of unpaid tariffs imposed on foreign firms by fixing transfer price came to 786.5 billion won ($740.5 million) over the cited period.
The number accounts for some 65 percent of the country's combined evaded tariffs of 1.2 trillion won levied from 2008 to 2012.
The transfer price refers to the value set on certain goods and services traded between the foreign-based holding companies and their local affiliates.
Fixing such prices has been considered as one of most frequently used methods by multinational companies to evade duty and taxes.
Of the 2,625 companies investigated by the customs authority for allegedly evading paying duty from 2008 to 2012, multinational firms accounted for 371, or 15 percent of the total, the data also showed.
Meanwhile, of the 285.2 billion won tariff imposed on multinational companies in South Korea in 2011, only 25 percent of the amount was successfully collected, implying such firms are not abiding by local customs authority's orders.
"The customs agency must bolster its probe on tax-evasion attempts from transfer-price fixing, and make efforts to collect unpaid taxes," said Rep. Lee In-young of the main opposition Democratic Party. (Yonhap News)


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There’s a ridiculous number of ways to take in sports in 2012. If you’re within your ever-expanding mobile network, live sports and updates are continuously available in the palm of your hand.
And soon, you won’t even need the palm of your hand.
Wearable computers are about to take off, according to a study released by Forrester Research, an organization that specializes in technology market trends. The report predicts wearables will be the next step in mobile computing, with some niche consumers tinkering with the technology over the next year. Once the “big five” web entities -- Apple, Google, Microsoft, Amazon and Facebook -- invest and commit to wearables, these new devices will go mainstream. And that could happen earlier in this decade than previously thought.
Wearables “have enormous potential for uses in health and fitness, navigation, social networking, commerce, and media,” writes Sarah Rotman Epps, who authored the Forrester report. “Imagine video games that happen in real space. Or glasses that remind you of your colleague’s name that you really should know. Or paying for a coffee at Starbucks with your watch instead of your phone. Wearables will transform our lives in numerous ways, trivial and substantial, that we are just starting to imagine.”
Google recently provided a peek into its secret project called Project Glass that interacts with a person’s vision through a thick, computerized pair of glasses. On the device, users could send and receive messages through voice commands, record video, take pictures and acquire information about what they’re looking at. For instance, a person could hypothetically look at a sports bar through the glasses and receive information and reviews from other online users, the same way somebody would by googling it on their smartphone.
Needless to say, wearables will even further connect sports fans to their favorite teams.
It’s already, to be frank, absurd how quickly and frequently we consume sports. My ESPN ScoreCenter app buzzes about every three-and-a-half seconds -- and I couldn’t imagine having it any other way (the females in my life love that). A friend of mine receives an update every time the New York Mets finish a half inning -- and even then, he’ll still manually check the score if it seems like an inning is taking too long (Someone must be scoring! Or a pitching change!). During March Madness, despite having three TVs set up, we were still on our phones watching other games on the CBS app and monitoring our brackets.
With a computer in front of your eyeballs, sports fandom could be taken to another level. Where to begin? And perhaps as importantly, where to stop?
Can you imagine a scrolling sports ticker in your peripheral vision as you walk your dog? How about receiving an alert when an NBA game is tied in the final minute and then, by using a voice command, switching to live coverage of that game on your glasses? Or playing a football video game in which virtual defenders are all around you, not just in front of you on a screen?
And there are certainly more creative people than me conjuring up ideas on how to utilize the technology at this moment.
The idea of interactive glasses isn’t new, but the Forrester report suggests we’re going to be using them sooner than most experts thought. When the time comes, the major mobile players will battle for wearable customers the same way they’re currently fighting for customers on smartphones and tablets.
The glasses may look nerdy, but once they go mainstream there may be no better way to be a sports nerd.


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IDW Games has announced the official release dates for two of their upcoming games.
Open Sesame, a press your luck/memorization card game about the tale of Ali Baba and the 40 Thieves, is expected to hit shelves on June 30th. Players take turns playing Ali Baba (attempting to steal as much treasure from the cave as possible without getting caught) or one of the thieves guarding the cave (attempting to catch Ali Baba in the act by reciting exactly what he is trying to steal). Designed by Antoine Bauza, the creator of such popular games as 7 Wonders, Takenoko, Tokaido and Hanabi, Open Sesame plays 3-5 players in about 20 minutes.
You can find more information at Boardgamegeek here.
Pirates of the 7 Seas will be in stores July 31st. In this game, designed by the team behind the innovative hit game Mysterium, players will brave all manner of perils in their quest to become the richest Pirate on the high seas. Pirates of the 7 Seas plays 2-4 players in about 45 minutes to an hour.
Check out this game at Boardgamegeek here.


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Google is the brand that Aussies would be proudest to work for, new rankings from YouGov BrandIndex reveal.
The analysis looks at which brands people would be proud or embarrassed to work for. The internet search giant tops the list with a score of 46.4, followed by national carrier Qantas in second place (45.6).
Other digital brands have a strong presence in the top ten. Digital payment solution PayPal is tied in fourth place (36.2), subscription video-on-demand service Netflix comes in sixth (35.6), and video-sharing platform YouTube in tenth (33.0). Car brands also fare well – with Mercedes-Benz in joint fourth (36.2), Toyota in joint seventh (34.4) and BMW in ninth (34.1).
The list is completed with brands from a range of industries. Sunscreen brand Cancer Council comes in third (41.2) and airline Emirates in joint seventh (34.4).
The rankings also reveal the brands that have seen the biggest increase in their scores over the past 12 months. Netflix heads the list with a score increase of +5.0, followed by fast-food giant McDonald’s (up +3.7 points), and a variety of brands in joint third place, ranging from fast food brands Hungry Jack’s and KFC, to Singapore Airlines and instant messaging platform WhatsApp (all up +3.3 points).
Ervin Ha, Head of Data Products at YouGov APAC said: “The prevalence of tech brands in the top ten suggests that many Aussies want to work for innovative and forward-thinking employers – particularly Google who takes the top spot. Being a brand people would be proud to work for is a good indication of strong brand health.”


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// Labour promises to act to prevent the sell-off of retail space for low cost housing
// If in power, the party will empower councils to fill empty shops & establish a high streets “fightback fund” to help retailers recover
Labour is promising to scrap new planning laws in a drive to breathe fresh life into Britain’s Covid-ravaged high streets.
Campaigning in Birmingham ahead of the local elections in May, shadow chancellor Anneliese Dodds is expected to announce that the Labour government would act to prevent the sell-off of retail space for low cost housing.
She will say that, in power, the party would empower councils to fill empty shops and establish a high streets “fightback fund” to help businesses get back on their feet following the pandemic.
- High streets & coastal towns to get £56m boost ahead of summer
- Residential developments could harm high streets, lobby groups warn
- Plan for vacant shop-to-residential conversions “will not save our high streets”
In the 10 years to the start of the outbreak, Dodds will say that the West Midlands alone had lost 1000 shops while across the UK as a whole there had been a fall of 7000.
She will also call on the government to take action to “level the playing field” between traditional, brick-and-mortar retailers and the online tech giants.
In addition, she is expected to criticise the government’s “economically illiterate” plans for a real-terms pay cut for public sector workers while preparing to push through a “massive” council tax hike and cut social security.
Conservative Party co-chairman Amanda Milling said the government had provided £35 billion to protect and support communities and businesses through the pandemic.
“While Labour are playing politics at every turn, this Conservative Government is taking the action needed for our high streets to adapt and succeed both now and in the future,” she said.
with PA Wires


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Finland's S Group H1 2018 Figures Boosted By Weather
Finnish retailer S Group (SOK) has announced a 2.7% rise in tax-free retail sales for the first half of 2018, posting sales of €5.6 billion.
It also saw strong figures in grocery sales, which grew by 5.8%, to €3.6 billion.
In a statement, Taavi Heikkilä, CEO of SOK, explained that the warm weather is partly responsible for the recorded growth.
"Our total sales continued to increase steadily in early 2018, and the effects of the hot early summer on customer activity are particularly evident," Heikkilä commented.
Online grocery sales posted a 30% increase year on year, building on the good figures that the group saw last year in H1.
However, some of its divisions registered a noticeable drop, such as its department and speciality stores, which saw sales fall by 3.1%.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Matthieu Chassain. Click subscribe to sign up to ESM: European Supermarket Magazine.


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Billionaire George Soros’ investment management firm has saved millions after completely selling off its shares of Facebook and slashing its stakes in Netflix and Goldman Sachs just before the stocks nosedived, a report said Wednesday.
Soros Management Fund saved $17.7 million in the fourth quarter by dumping the three stocks, Barron’s reported.
Goldman tumbled 15 percent in the fourth-quarter, while streaming-content giant Netflix plunged 29 percent since the end of September, according to Barron’s. Facebook has fallen 20 percent in the fourth quarter, hitting an intraday low of $126.85 on Tuesday.
The firm’s stake in Goldman shrunk from 64,814 shares at the end of June, to 28,206 at the end of September, according to Barron’s. Goldman Sachs’ stock began its tumble earlier this month when the Justice Department revealed charges against two former employees for issuing bonds from 1Malaysia Development Bhd.
Cutting 89 percent—or 106,400 shares—of its Netflix position in the third quarter, the firm held only 13,800 shares at the end of the September, according to the outlet. Its stock began its slide in October when investors expressed skepticism over its future profitability.
Soros Fund Management dumped all of its Facebook stock before the end of the third quarter and prior to the publication of a New York Time’s report that the tech company hired a GOP-opposition research firm to investigate links between Facebook critics and Soros, an outspoken opponent of the social media giant, according to Barron’s.
Meanwhile, the investment firm bought 91,200 shares of Chinese web giant Alibaba and 490,100 shares of chip maker Micron in the third quarter, Barron’s reported.
Both stocks have slid so far in the fourth quarter and could amount to a combined loss of $6.2 million for the firm, according to Barron’s.
Facebook-New York Times fight gets ugly Facebook slammed a blockbuster New York Times report for ‘inaccuracies’ after the newspaper painted a scathing portrait of Mark Zuckerberg and Sheryl Sandberg, the company’s top leaders. Elliot Schrage, a Facebook official who leads their Communication and Policy team, took responsibility Wednesday for establishing the company’s relationship with Definers,...
File photo (Credit: iStock) If Monday rolls around and you still have presents to buy, be sure to click over to Walmart’s website. The retail giant’s Cyber Monday promotion kicks off at 12 a.m. ET on Monday, Nov. 26. Walmart is promising “thousands” more Cyber Monday deals this year compared to last, along with greater...


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Flutter Entertainment, plc (LON: FLTR) has reached an agreement to purchase The Stars Group (NASDAQ: TSG) for $6 billion – a 40% premium on Tuesday’s closing price – in an all-share deal. The ‘Combined Group’ would become the world’s largest online betting and gaming operator (worth +/- $12 billion). On a proforma basis, the two companies combined to generate $4.67 billion in revenue in 2018. For perspective, no other gaming outfit pulled in more than $3.6 billion last year (GVC Holdings).
The ‘Combined Group’ will be well diversified from both a geographical and product offering standpoint. While FLTR maintains a significant international presence – particularly in the U.K., Ireland and Australia – TSG’s ownership of Sky Betting and Gaming ensures that the new entity will hold a podium position in Spain, Italy and Germany. The FoxBet brand positions the ‘Combined Group’ to pursue the burgeoning U.S. market. On the product front, the ‘Combined Group’ will be able to offer sports betting, online poker, online casino, daily fantasy and free-to-play games.
Pre-tax cost synergies worth upwards of $175 million, the ability to streamline backend technology – which is extremely costly on a state-by-state basis – and the chance to offset bets between the FanDuel and FoxBet brands are viewed as additional benefits of the merger.
Howie Long-Short: Flutter Entertainment is the entity that was formed out of the Paddy Power and Betfair merger. The conglomerate also includes the FanDuel, TVG and SportsBet brands. Company shares rose +5% on Monday’s news.
In addition to Sky Betting and Gaming, TSG owns PokerStars, BetStars and Full Tilt Poker. The company’s share price has skyrocketed +30% since word of the acquisition leaked.
Upon closing, Flutter shareholders will control 54.64% of the new entity. TSG shareholders own the remaining 45.36%.
The U.S. market is where the growth opportunity lies for gaming operators, but Sara Slane, founder of Slane Advisory, believes FLTR’s interest in TSG is driven by their desire to stabilize their existing business. “Stringent regulatory changes in the U.K. have forced gaming operators like William Hill and PaddyPower to close down thousands of storefront shops. In addition, recent advertising restrictions and higher gaming tax rates in numerous European countries have compelled global operators to diversify and double down in growth markets.”
A TSG takeover is an efficient way for FLTR to grow their domestic footprint. Remember, FanDuel has market access deals in place through Boyd Gaming. Slane explained that “in states with multiple skins, the [Combined Group] will now be able to market two brands to two distinctly different audiences. That should theoretically help capture a bigger piece of the total available revenue pie.”
It remains TBD if the ‘Combined Group’ retains both the FoxBet and FanDuel brands in the U.S., but I’ve struggled to come up with a logical reason why they would shutter one. Slane agreed saying that “FoxBet has a big media presence and a free-to-play product on a national scale and FanDuel has tremendous market access. They make for a compelling pair.”
Further consolidation seems likely to occur between international gaming operators and U.S. based companies like FanDuel, that have always been a mobile-first operation. One well-respected gaming industry authority explained that domestic gaming companies “are unique in that they have significant brick and mortar portfolios and are operating with double-digit debt loads. It’s simply harder to do mergers and acquisitions with companies at that scale.” DraftKings is positioned similarly to FanDuel, but with a much higher debt load. It’s reasonable to suspect they too are a candidate to be bought by a major international player. William Hill and Bet365 would be the ones to watch.
Fan Marino: U.S. based gamblers will find that FLTR has a “quality product”, but Matt McEwan, executive editor of SportsBettingDime.com (a free sports betting news and information service), believes that is the only positive in the deal for punters. “When two really big players come together they gain a lot control within the industry. The [‘Combined Group’] now has pricing power and that is not good for bettors shopping early lines.”
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