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Shift, a provider of credit and payment platforms for Australian small businesses, has announced the closing of a $27 million Series C funding round, led by Sequoia Capital Southeast Asia.
This latest round comes after a recent $140m increase in Shift’s debt funding capacity, along with a period of record growth for the company as it saw both funding and revenue exceeding 50% growth in each of the last three years.
Since its founding in 2014, Shift has provided more than $2bn in tailored financial solutions to support Australian businesses, which includes capital for growth, equipment finance, and trade payment solutions.
In addition to Sequoia Capital Southeast Asia’s involvement, the majority of Shift’s existing shareholders also participated in the Series C equity round.
Shift said the new capital raised would be used to enhance the company’s suite of credit and payment products and deliver further value to its network of broker partners, merchants, and direct customers.
“Shift’s strong performance over the past three years speaks to the opportunity in disrupting the highly underserved market of business credit and payments, which has lagged behind the wave of innovation in consumer finance,” said Shift CEO Jamie Osborn (pictured above).
“With this funding, we are well-positioned to scale our business and unlock growth for our partners and business customers. In Sequoia Capital Southeast Asia, we found a partner with shared values and a shared appreciation for the opportunity to disrupt an antiquated industry through product and service innovation.”
“While large corporates can access financing based on their income or cash flows and consumers can access financing via credit card or personal loans, many businesses in Australia have to rely on mortgaging their homes or vehicles,” said Rohit Agarwal, Sequoia Capital Southeast Asia's principal.
“More than $3 trillion is outstanding in credit to businesses and more than 90% of it is backed by real estate or automobile. Shift is solving this by providing smart finance solutions – credit anytime, anywhere – to millions of businesses using data and technology. We’re glad to be a part of this journey.”


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UK enters deflation as inflation falls by 0.1% and turns negative for the first time since 1960.
The ONS (Office for National Statistics) reported that while there was no change in CPI (Consumer Prices Index) at 0% in the year to March 2015, CPI fell by 0.1% in the year to April 2015.
Economists had last month considered it possible that the UK would fall into deflation over the next few months, though believed it highly unlikely to be a 'toxic form of deflation.'
The ONS further concluded that this was the first time since records began in 1996 that inflation has turned negative, but have also deduced through comparable historic estimates that it is also the first time since 1960.
Air and sea fares were two of the main contributors to negative inflation, which both rose but by much less than last year. However the timing of Easter was considered to have caused this – in 2014, Easter took place during the middle of April whereas this year it was earlier, meaning that the price hikes in air and sea fares that come about during this period weren’t captured in the inflation rate.
More broadly, the ONS acknowledges the main reason for the decreasing rate of inflation over recent months as being falling prices for food and motor fuels:
‘Historically, these prices have been responsible for a large proportion of the rate of inflation. Over the last year falling prices for these goods have changed this picture, with food and motor fuel prices reducing the rate. Decreases in the price of oil, lower commodity prices and increased competition among the supermarkets are all possible contributing factors.’
‘We should not mistake this for damaging deflation’
Chancellor of the Exchequer, George Osborne, said that the figures should be looked upon positively and mustn’t be mistaken for a detrimental form of deflation.
‘Today we see good news for family budgets with prices lower than they were a year ago. As the Governor of the Bank of England said only last week, we should not mistake this for damaging deflation,’ the Chancellor said.
‘Instead we should welcome the positive effects that lower food and energy prices bring for households at a time when wages are rising strongly, unemployment is falling and the economy is growing. Of course, we have to remain vigilant to deflationary risks and our system is well equipped to deal with them should they arise.’
Over the last year, the strength of the pound has led to cheaper imports.
‘Sterling is around 5.8% stronger than this time last year and the past 12 months have obviously been a significant decline in oil and food prices,’ Jeremy Cook, chief economist at the international payments company, World First, said. ‘The subsequent effect on imports into the UK means that disinflation is piggybacking on every product that we bring in from abroad.
‘As oil prices recover and last year’s declines fall out of the inflationary basket then this will become less of an issue.’
However, there has been very little sign of negative inflation within the UK housing market, which saw house prices rise by 9.6% in the year to March 2015. This is further reiterated by the Retail Prices Index, which includes housing costs and is a more extensive measure of inflation, which increased over the last year by 0.9%.
Upon hearing the news of the UK’s turn into negative inflation, many economists are reluctant to call it ‘deflation’ due to the link some may make between it and the ‘1930s-style’ deflation.
‘The slip into deflation should not worry us, as it is primarily caused by a drop in the cost of energy, which is good news for households and businesses,’ said James Sproule, chief economist at the Institute of Directors.
‘Falling prices in necessities, such as food and transport, along with a period of sustained job creation and wage growth mean demand and consumption will remain buoyant.’
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Digital Security Info
Security news, views, and insight from ESET experts
Data of 500 million WhatsApp users leaked online
The future starts now: 10 major challenges facing cybersecurity
The spy who rented to me? Throwing the spotlight on hidden cameras in Airbnbs
Trick or treat? Stay so cyber‑safe it’s scary – not just on Halloween
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Security fatigue is real: Here’s how to overcome it
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Deepfakes Are Making Social Engineering Even Trickier. Why?
5 reasons to keep your software and devices up to date
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5 steps to protect your school from cyberattacks
Illicit cryptomining. How can cybercriminals misuse your devices?
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New figures released by the Post Office show that Spain has overtaken Portugal to become Europe’s cheapest holiday destination, narrowly beating the Czech Republic and Bulgaria and over a third cheaper than Turkey.
The Post Office’s “Worldwide Holiday Costs Barometer 2012” shows that Spain has the cheapest in-resort costs in Europe and is only second worldwide, behind Sri Lanka.
The report looks at the costs of eight everyday items that are common holiday purchases. These include a cup of coffee, a packet of cigarettes and a three course evening meal for two adults.
The total cost of the items in Spain was £37.72 (€45.59) narrowly beating Prague in the Czech Republic with £39.57 (€47.87) and Sunny Beach in Bulgaria with £39.65 (€47.92).
The most expensive in Europe was Sorrento in Italy where the items total cost was a staggering £89.03 (€107.60) while Brisbane, Australia, was the most expensive worldwide with a total of £115.60 (€139.72) for the items.
Spain’s winning prices were as follows: Cup of coffee – £1.09 (€1.31), bottle of local beer/lager – £1.82 (€2.20), bottle/can of Coca Cola – £1.09 (€1.31), 1.5l bottle of mineral water – £0.35 (€0.42), suncream – £4.50 (€5.44), insect repellent – £2.50 (€3.02), a pack of 20 Marlboro Lights cigarettes – £3.64 (€4.39), a 3-course evening meal for 2 adults (incl. bottle house wine) – £22.73 (€27.47) – giving a total of £37.72.
Download the Post Office Worldwide Holiday Costs Barometer 2012


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- Bitcoin reached a new all-time high and then fell sharply by 5%.
- Despite weak retail sales, the US PPI exceeded expectations.
- The higher rate scenario is negative for risky assets like Bitcoin.
The Bitcoin rate showed volatile dynamics, dropping to its lowest value in a week. This happened against the backdrop of profit-taking by investors after the record growth of the cryptocurrency.
An additional factor that negatively affected the demand for Bitcoin was the unexpected acceleration of inflation in the United States. Rising inflation indicators have pushed back the prospects for rate cuts, which has reduced the attractiveness of risky assets, which include Bitcoin.
The Bitcoin exchange rate has undergone significant fluctuations. After hitting a new all-time high of $73,803.25 for the fourth day in a row, the cryptocurrency plummeted more than 5% to hit a low of $66,629.96. The rate subsequently partially recovered, but at the time of the last trade was still 3.5% below the record value.
Market analysts note that volatility is a characteristic feature of Bitcoin, and sharp price fluctuations are often observed after the cryptocurrency reaches new record values.
Impact of the current statistical data
Despite weaker-than-forecast US retail sales in February, the PPI index, on the contrary, exceeded expectations. This, coupled with the PPI hitting a new high recently, indicates the Fed may not be as dovish as traders had hoped.
The PPI data complements US consumer price data released earlier in the week, which also indicated continued inflationary pressures.
In response to this news, markets lowered their estimates of the likelihood of the Fed’s easing cycle starting in June. Futures are now pointing to a 60% chance of a rate cut this month, up from 74% a week ago, according to CME FedWatch tool.
A scenario of higher and longer rates, especially in the US, is traditionally negative for risk-sensitive assets such as cryptocurrencies.
Isn’t it all that bad?
Despite market volatility, the price of Bitcoin has seen a 60% increase since the beginning of the year. This is partly due to inflows into US spot exchange-traded crypto products, as well as ongoing expectations for a decline in global interest rates by the end of the year.
MicroStrategy, known for its bullish view of the future of Bitcoin, has announced plans to raise capital through convertible bonds denominated in Bitcoin. On March 5, the company announced a $600 million private placement of such bonds, allowing it to increase its exposure to this fast-growing market.


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Great Lakes Pet Expo Taking Place at State Fair Grounds this Saturday
Great Lakes Pet Expo will take place on Saturday, February 4, 2017 from 9AM to 6PM, at the Wisconsin Exposition Center at State Fair Park in West Allis, WI.
Hundreds of adoptable animals from local shelters and rescues will be available.
The event will include a Puppy Bowl.
A VIP Shopping Hour will be held from 9am-10am with tickets available to the first 2,000 people and they will go fast.
Advance tickets for the VIP Shopping Hour and for General Expo Admission are available now for purchase at www.petexpomilwaukee.com.
Local firefighters will compete against canine agility stars.
There will also be dancing horses.
VIP Shopping Hour admission is $15 (ages 13 & up) and $3 for kids (5-12), General Expo Admission (ages 13 & up) is $7 from 10AM-3PM, Reduced General Expo Adult Admission is $5 from 3PM-6PM. FREE admission for children 12 and under, and veterans with military ID from 10AM-6PM.
All admission proceeds from the event benefit AWARE, a nonprofit organization dedicated to improving the lives of companion animals in Wisconsin.
Personal pets will not be allowed at the GLPE, but service dogs are welcome.


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More U.S. travelers want to buy travel insurance now than they did before the pandemic, according to a new study from Allianz Partners.
The "States of Mind Travel Report," based on Allianz's customer trends data and input from industry experts, found that travel insurance purchase intentions in the U.S. for trips abroad increased from 19% in 2019 to 43% in 2022.
Similarly, intentions to purchase travel insurance also increased in five major European markets, Allianz said: Belgium, France, Germany, Italy and the U.K. For international travel, intentions rose from 21% in 2019 to 55% in 2022, and for domestic travel, intentions rose from 12% in 2019 to 26% in 2022.
Indeed, Allianz saw its highest level of claims for post-departure benefits this year.
"The insurance industry is now providing services to a more demanding and better-informed consumer, who has a heightened awareness of both what good service looks like and what can go wrong," said Joe Mason, chief marketing officer for travel at Allianz Partners. "Therefore, there is a lot more pressure on the travel industry to deliver. Flexible, seamless solutions to cover all the what ifs are now central to the offer."
Copyright 2022 Northstar Travel Media, LLC. All rights reserved. From https://travelweekly.com. By Jamie Biesiada.


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Topps has planned special activities around the All-Star festivities where baseball fans won’t want to miss a day. Topps will offer exclusive baseball cards, giveaways and a special day for baseball fans to rediscover cards.
The annual spring training report is in from David Moriah. This year’s scene was in Arizona, where some sparkling new stadiums reside and the teams still make signing autographs a priority.
Topps digital programs continue to grow. Topps BUNT 2015 is now available, and Topps has provided some stunning stats. For instance, Topps BUNT players have collected more than 150 million digital baseball cards since its inception.
Topps BUNT, the exclusive trading card app of Major League Baseball, has been releasing Spring Training cards since pitchers and catchers reported in late February.
A 1942 Joe DiMaggio jersey brought $169,400; a 1920 autographed Chicago White Sox baseball featuring six players banned in the Black Sox scandal, including Joe Jackson, sold for $81,070; and a 1952 Topps Baseball graded near set rang up at $72,600 in Goldin Auctions’ recent sale.
Everyone wants the stars when it comes to autographs. Forgers are happy to oblige. PSA/DNA has released its annual Top 10 Most Dangerous Autographs list, and Mike Trout is added to the list.
Mike Trout signed baseball cards will only come from Topps, and the superstar outfielder remains the face of the Topps BUNT moblie app.
More than 20 rows of sports collectibles made the I-X Center in Cleveland a mecca for collectors during the 2014 National Convention.
The live portion of the Babe Ruth 100th Anniversary Auction wrapped up July 12, grossing more than $3.6 million. the rest of the lineup, which contains more than 200 Ruth items in the 1,200-lot lineup, concludes Friday, July 18.
A new licensing agreement between RareInk, MLB Properties and the MLBPA means a new line of limited-edition artwork featuring MLB players past and present, historical moments and ballparks.


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Don Meij has been the chief executive of Domino’s Pizza Enterprises for more than 21 years, and the corporate face of the business since it listed on the ASX in 2005. But after delivering the fourth profit downgrade in three calendar years, he’s facing what might be the toughest challenge of his long career: rebuilding confidence in management and winning back the trust of the market.
Domino’s shares plunged almost 30 per cent on opening on Thursday after the company released an ugly trading update three hours after the market closed on Wednesday night.
The company said December-half earnings would be below the prior year because of falling sales in parts of Asia and Europe, and warned “any previous guidance for FY24 performance, de facto or otherwise, is no longer in effect”.
Jarden’s veteran consumer analyst, Ben Gilbert, says the downgrade, which came just months after Domino’s delivered an upbeat update at its November annual general meeting, raises clear questions about management visibility over the company’s earnings. Gilbert says market confidence in the company is broken, and is calling for a reset to “rebuild trust”.
“We believe Domino’s needs a one-to-two year reset, quasi-pause on marginal stores to create pent-up system demand, build confidence from one its three biggest assets (its franchisees, with the others its employees and customers) and see return on invested capital,” Gilbert says.
“In our the view, (market confidence) is the biggest challenge, with credibility under pressure owing to ongoing downgrades and deteriorating performance. While COVID volatility and earnings were in line with those of peers, execution post-COVID has not been.”
There’s an argument that Gilbert’s disappointment is amplified by the fact that he had an overweight (buy) rating on the stock and a target price of $65. Gilbert said in note to clients that he and his team “still like the business and want to be more constructive but question management visibility, in light of the frequency and timeliness of recent downgrades” and adjusted his rating to neutral, with a target price of $50.
But Thursday’s savage market reaction, which more than wiped out the rally in Domino’s shares over the past six months, says Gilbert is hardly alone in his disappointment.
The stock was trading just below $45 on Thursday morning, at levels not seen since the middle of 2019. At 12.45pm AEDT, the shares were down 30 per cent at $40.30.
Japan is at the heart of the latest downgrade, with Domino’s reporting weaker-than-expected sales in the important pre-Christmas period. For the December half, same store sales were negative in Japan, Taiwan, Malaysia and France.
There was an improved performance in Australia, where same store sales growth improved across the December half on the back of new products and marketing initiatives, with delivery orders recovering after what the company itself described as “pricing missteps in response to inflationary pressures”, where it implemented a delivery levy that customers hated.
Domino’s also said the cost reduction program announced the middle of last year is working; Gilbert says the positive for Domino’s is that Australia was about six months ahead of Europe and Asia in the rollout of the cost reduction plan and new customer initiatives, so those trends should support the wider group over next six months.
They’d better. As Gilbert says, the problem here is that Japan and Germany are Domino’s growth engines, and he’s worried that this downgrade could particularly affect franchisee confidence in Japan, which would hit management’s ability to roll out new stores.
“We expect credibility and concerns about execution outside of ANZ to take time to resolve.”
Gilbert’s call for Domino’s management to rebuild trust is based on his view that the company’s vertically integrated franchise model, whereby it controls food, fees and marketing, should generate a better return on invested capital. Domino’s one-year forward ROIC sits at 11.9 per cent on Jarden’s numbers, well below the market cap weighted average for global competitors, which sits at more than 47 per cent.
Meij is no stranger to the roller-coaster of public markets. Between early 2019 and September 2021, when Domino’s shares tripled from $50 to $150, there were plenty of occasions when the stock plunged 20 per cent in short periods.
That share price peak came in the midst of lockdowns, when Domino’s sales were surging and public markets were at their frothy COVID peak. But as Gilbert says, it’s been a difficult period since then, as Meij and his team have juggled rapidly changing market conditions with an overseas expansion that hasn’t always gone smoothly; the decision to buy a collapsed Danish pizza chain, which Domino’s itself would later shut, is a case in point.
Meij has done a brilliant job steering Domino’s ship for more than two decades, making plenty of money for investors and franchisees in the process. But Thursday’s plunge points emphasises the questions Gilbert raises about management credibility that go beyond any one downgrade.
Meij and Jack Cowin, who is Domino’s chairman and its biggest shareholder, face fascinating and difficult question in the coming months. Is the old veteran the right person to get the business back on track? Or after more than two decades, is it time for a new voice to rebuild the market’s trust?
On an investor webinar on Thursday afternoon, where Meij took written questions, he said he had to wear the blame for the underperformance.
“In good times, I get credit when it’s a team effort.... and right now, when things are going bad, I take full responsibility.
“We’re in a mode where we have underperformed and I don’t want to over-promise. We need to bring better results to the market. It’s been executional – management is in charge of execution.”
But there does not seem to be any great changes in strategy coming. Meij conceded the company may have grown fast in too many places, and a period of consolidation was necessary, but there are no plans to exit Japan or other markets at this point, and Meij is taking heart in market leadership and momentum in Australia and Germany.
The lasting impression was of Meij digging in to fix his own mistakes.
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Today Professor Grimmelmann sent the following message to signers of his petition:
Today, Aspen announced that students "will have a choice" to participate in the Casebook Connect program or to buy a traditional printed casebook."
Whether this is a change, or whether Aspen intended this policy all along and simply misstated it in the initial emails, today's announcement is great news. Students will continue to be free to buy, sell, and rent casebooks, just as first sale has always allowed. Keeping casebooks affordable and protecting consumers' rights under copyright are still both important issues, but today they both won a round, thanks to you. Your signatures and messages sent a strong message to publishers that we take these issues seriously and will vote with our syllabi. Thanks also to Aspen for doing the right thing by not compelling students to "buy" books they can't keep.


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Uber Pet Launches
June 25, 2020
The furry friends of Australia now have a new transport option, with Uber launching a new ride sharing service for animals.
Whether it’s a trip to the vet, an outing to the park or even to hang out at the pub, Uber will now allow pets inside some of its cars.
After a successful trial in Brisbane and Sydney, Uber Pet will now be available in Melbourne, Perth, Adelaide, Gold Coast, Canberra, Newcastle, Hobart, Cairns, Sunshine Coast, Geelong, Wollongong and Darwin.
However there’s a catch: bringing your mate along for the ride will attract a $6-$7 surcharge.
That fee also doesn’t cover any potential damage or cleaning fees.
Uber says the surcharge does not apply to service dogs, which can ride along in any vehicle for no extra cost.
To avoid being slugged an extra cleaning fee, Uber advises customers to keep their pets restrained and bring a blanket or towel to reduce the risk of damage or mess.


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Paul Higgins, EMEA Banking Lead, Mendix
Tech has long played a role in the finance space. The legacy applications running on mainframes at banks hold upwards of 50 years of business process and regulatory compliance evolution – that represents enormous complexity but also significant value in a highly regulated industry. However, that advantage of experience and stability is being outweighed by the faster innovation cycles and lower costs that cloud-native fintechs and neo banks enjoy.
Admittedly, fintechs have been hit hard in the current macroeconomic climate, with some valuations declining dramatically. But the long-term outlook is that fintechs in Europe continue to gain relevance. According to a McKinsey paper, at least one fintech ranks among the top five banking institutions in each of the seven largest European economies, as measured by GDP.
Given the accelerated demand for innovative business solutions geared to the digital-first economy, traditional banks cannot afford to lag behind the emerging crop of challenger banks and new fintech players. In addition, the standardization of services that we are seeing in the sector means that banks must find new ways to differentiate themselves from competitors.
What can the traditional finance players do to survive and thrive in this new world? The key lies in embracing the agility of their fintech competitors.
Fintech vs traditional banks
Fintechs often home in on a single-use case, adopting the latest technology to create a focused, best-of-breed product for customers. This innovation and laser-focus has led to the emergence of fintechs with multi-billion valuations, like Stripe, Klarna, and Revolut. Although offering different products, they share a common goal of providing a great experience to their customers and users – Stripe for merchants, Klarna for online retailers and their customers, and Revolut for retail banking – with no sign of a paper process anywhere. And they iterate and bring improvements to market at a rapid pace.
That poses a major challenge for traditional banks. The legacy applications they operate come from a bygone era where yearly release cycles were the norm – compared to the monthly, fortnightly, or even weekly release cycles common now. The business lines at traditional banks identify the trends and opportunities, but simply cannot react fast enough to capture the potential.
There is a real risk that without the agility to quickly bring new products to market, banks will continue losing customers, especially younger generations, to fintechs. An approach is clearly needed, that provides flexibility across the business and application landscape, enabling them to integrate innovative technologies and match the pace of change we are witnessing.
Low-code application development increases agility
Adopting low-code across the enterprise has emerged as a crucial solution to meet the challenges posed by the digital-first economy. Low-code breaks down traditional silos of business and IT functions through its first and most important principle: model-driven development. Using a visual model to build an application gives both technical and business professionals a common language to discuss their goals and needs. As a result, cross-functional or fusion teams develop solutions that are relevant and powerful. Low code also helps automate much of the application development, thus reducing errors and accelerating time-to-market and ROI.
Low-code application development unburdens IT
In full-code application landscapes, up to 7 of every 10 employees in IT are focused on tasks to “keep the lights on.” Whether that’s incident and problem management, making small upgrades to applications, or rolling out patches and other bug-fixes. Which leaves precious few developers to tackle the growing backlog of requests from the business lines.
By comparison, low-code drastically reduces the number of people required to maintain and operate applications. A major factor here is the model-driven development already mentioned. The combination of freeing up developers to actually work on building applications, and having those developers collaborate closely with business experts has a significant compounding effect – resulting in higher business value in a shorter amount of time.
For instance, in the case of Rabobank, whose direct savings bank served more than 500,000 people, customers were not happy with the interface, leading them to leave the platform.
The IT landscape was complex, with different systems per country, and meeting shifting regulatory and compliance requirements was not easy. So, any upgrade would be a challenge. Using the Mendix low-code development platform, Rabobank reduced their IT costs for the direct bank by 50% while delivering a far superior customer experience. They streamlined their customer onboarding process and created web and native mobile versions of their savings portal, leading to fantastic scores in customer satisfaction and increased business.
Low-code application development provides a bright digital future
For years the banking and finance sector has been dominated by well-known brands. But according to a recent EY report, 37% of consumers now say that a fintech is their most-trusted financial services brand, compared with 33% who name a bank. Looking at younger generations, 51% of Gen Z and 49% of millennials named a fintech as their most-trusted financial brand – a sign of incumbent brands’ struggle for relevance with younger audiences. Players in the banking space who leverage new technologies, making their products, strategies, and services relevant to customers’ needs will lead the competition.
As the sector continues to evolve, allocating resources to increase innovation, agility, and efficiency should be a priority for banks. Low-code presents financial institutions the opportunity to combine the strengths of an incumbent – the experience and expertise, and a user base most fintechs can only dream of – together with the agility of a start-up.


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Wednesday, February 8, 2012
XYDO Shifts Strategy Towards Email Marketing
Park City-based XYDO, the startup headed by Eric Roach and Cameron Brain, said today that it has shifted its model to the B2B market. The company--which is venture backed by EPIC Ventures--originally was focused on social news, but says it is now focused on helping businesses supplement their marketing efforts with curated email newsletters. The white-labeled newsletter service helps companies create newsletter with interesting content culled from the Internet and social networks. XYDO said that so far, the Utah Jazz, Lendio.com, Interbank FX, Doba.com, Zions Direct, BYU Athletics, Sorenson Molecular Genealogy Foundation, Gossamer Gear, and Axl's Closet are among the firms using the new email content marketing product.


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The Chinese company has long been the No. 3 handset maker in the world thanks to strong sales in China, Europe and Latin America.
“The continued growth of Huawei is impressive, to say the least, as is its ability to move into markets where, until recently, the brand was largely unknown,” IDC’s Ryan Reith wrote in a report.
Reith noted, however, that Huawei and Samsung’s dominance may be short-lived.
“It is worth noting that Apple moved into the top position each of the last two holiday quarters following its product refresh,” he said. “It’s likely we’ll see continued movement among the top-ranked companies in 2018 and beyond.”


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A luxury tour operator has targetted £60 million sales in 2014.
Destinology offers a wide range of luxury holidays to destinations including the Middle East, Indian Ocean, Far East and Caribbean, as well as to Europe and flight only, selling to over 35,000 customers each year and a growing list of celebrity clients.
The company, headed up by Dominic Speakman, is currently celebrating its 10th year in business and has already delivered a 27 per cent year on year sales increase for the first quarter.
It employs more than 100 people at its head office in Bolton and 10 in its retail shop in Wilmslow.
Destinology, which has been named in the ‘Sunday Times 100 Best Small Companies to Work For’, hit the £48m turnover mark in 2013 and is planning to open bases in London and the south east.
Bolton-born Dominic, who left Travel Counsellors to set up Destinology, said: “We have focussed strongly on customers’ needs from day one.
“From that base Destinology has grown to become one of the UK’s leading tour operators by selling direct to its clients via its experienced and knowledgeable call centre staff, as well as through its first retail store.”
Dominic said that part of the company’s success can be put down to developing the very best technology in the sector in-house.
He added: “In 2013, a pioneering innovation saw the introduction of Destinology’s agents’ website that passes on favourable room and air fare rates exclusively to travel agents, allowing them to compete with direct sell competition.
“The call centre’s phone system allows operators to see the booking background of customers before they welcome each call, while our first retail store features huge 80 inch screens, touch screen displays, cinema style presentation areas and incorporating features such as an ‘expert bar’ for one to one chats.
“It is totally different from any other travel agency on offer.”
A £1.5million search and marketing campaign, has also seen Destinology rank highly in destination and hotel SEO searches.
Dominic added: “It has resulted in strong sales meaning partner funded marketing is easy to attract, with hotels and airlines keen to invest in activities targeted to the company’s loyal database.
“Embracing social media has been important.
“We have has been praised for its use of Pinterest and established the UK’s seventh largest Google+ account, with a following of 1.1 million.
“Partner funded competition prizes have also won us legions of Facebook and Twitter followers which has been brilliant.”


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Disposables UK Group is celebrating another successful year, following a series of new appointments and strong sales throughout 2014. The paper disposables company, which celebrated its first anniversary in state-of-the-art new premises this summer, is on track to meet its ambitious five-year growth plans and has reported an increased annual turnover of £18 million.
Paul Halliwell, sales director at Disposables UK, said: “2014 has been another great year for us and we are in a robust position moving forwards into 2015. We have hit our growth target for the year, increasing our turnover by £1.6 million and we're on track with our five-year growth plan and sales across our products are looking very healthy. Sales of our Optimum ProWipers range doubled in 2014, as part of our plan to take a stronger share of the dry non-woven market and meet the strong market demand.”
Halliwell continued: “We have also made several significant appointments to our management team this year to support our growth plans for 2015. Glen Staddon, whom we took on as European business manager, has made a big impact in terms of broadening the Bay West brand in untapped European markets, as well as extending business into existing areas where the company already has a presence. We have also bolstered our Bay West south east sales team with the appointment of Nikki Schreiber and Marc Allen. They will focus on strengthening Bay West's visibility in the south east and help open up new avenues via existing and potential customers. A new marketing manager, Paul Mulready, has also joined us and, at board level, Dan Atkinson joins as financial director. Looking forward to 2015, we aim to grow our turnover by another £3 million to keep us on track to meet our expansion plans. We have several new product launches planned for the first quarter of 2015 and will also implement a barcoding system on raw materials to allow greater traceability throughout the manufacturing process and deliver improved efficiencies and wastage.”
Picture shows: (L to R) Marc Allen, Nikki Schreiber and Paul Mulready.


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We had first reported about the Japanese car maker Mitsubishi’s plans of axing the production of the Pajero soon before it introduced the Challenger Pajero Sport in India. It may be noted that until a few years ago, we had two generations of Pajeros being sold in India. Come to think of it, we still have two Pajeros being sold. The difference is that earlier, both were branded as Pajero and now the newer generation has been christened as the Montero. The generation that is still being sold as the Pajero dates back to 1991 and is the second generation of the Pajero SUVs (Montero being the third). Anyway, as we earlier said, the carmaker, which is fast getting aggressive in India, wants to discard the Pajero SFX to give the 2012 Pajero Sports a better chance in the market, as the old one is more popular than the new comer and has a good possibility of eating into the sales of the new model.
It is being said that discontinuing the Pajero SFX, which by the way is as old as dinosaurs, will give the Pajero Sport a better shot at capturing the market. Also, there are plans of Mitsubishi to locally assemble the rebadged Challenger and hence price it aggressively. As is known, the Pajero Sport is light years younger than the Grandpa age Pajero SFX. The old Pajero hardly sells anywhere else in the world and it is high time we bid goodbye to the car. It will be an understatement to say that the car has been long in the tooth now and new age products are the way forward for Mitsubishi. News is doing rounds that the Pajero SFX might be discontinued as soon as before October this year and frankly, we are not going to shed even a single tear on the demise of this vehicle. All we can do is to pray that it’s soul rests in peace.


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Samsung Still Tops Apple in Smartphone Market Share
The early results from IDC’s Worldwide Quarterly Mobile Phone Tracker shows that there were 337.2 million smartphones shipped worldwide in Q2 of 2015. That’s an 11.6 percent increase from the same quarter in 2014, which is the second highest quarter to date. Samsung is still shipping out the most units, totaling 73.2 million for the quarter, but it still struggled with some of its units. As for Apple, the company sold 47.5 million iPhones in the quarter, which was its biggest fiscal third quarter ever, and it continued to see very strong growth in China. Story in PYMNTS.
Lindsey Graham Responds to Trump by Destroying Cellphones
Lindsey Graham appears to have a newfound vendetta against cellphones. In a video released Wednesday, Graham destroys cellphones in increasingly violent ways, including cutting one in half with a meat cleaver, setting one on fire, dropping a block of wood on one and throwing one off a building. The video, accompanied by a dramatic orchestra, was in response to a speech given by Donald Trump in South Carolina on Tuesday in which Trump said Graham “doesn’t seem like a very bright guy” and then gave out Graham’s phone number. Story by Joshua Alexrod for The Washington Examiner.
Microsoft Feels the Pain of a Failed Mobile-Phone Business
Microsoft is hurting after shifting its smartphone strategy–leading it to report the biggest quarterly loss in company history. The company reported fourth-quarter earnings Tuesday that reflected a $7.5 billion writedown related to its failed acquisition of Nokia’s phone and services business. Microsoft also said it will incur additional charges, for combined writedown costs of $8.4 billion. Microsoft paid $9.5 billion in April last year for Nokia’s handset business, including the $1.5 billion in cash Nokia had on hand. It’s just the latest in a series of expensive after-effects of the software maker’s ambitious plan to compete against Apple and Google in the mobile arena. Microsoft plans to lay off about 7,800 people, mostly from the Nokia division. Last year it laid off 18,000 employees–its largest workforce reduction ever–including 12,500 former Nokia employees. Story by Nick Statt for CNet.
Samsung Phones get iMessage-Like Texting on T-Mobile
T-Mobile is upgrading its text messaging service by adding features like read receipts and large file transfers. The Uncarrier is calling the new service Advanced Messaging, and it brings with it a host of enhancements including near real time chat. Users will be able to see when their correspondence is busying typing along with whether or not they’ve read your message–and subsequently count up the minutes until they finally, freaking reply. The new feature will also allow T-Mobile subscribers to send high-resolution photos and video up to 10MB in size. Story by Kevin Lee for Tech Radar.
Data Shows 94.5 Percent of Chinese Use Mobile Phones
The Ministry of Industry and Information Technology (MIIT) said in a statement that China saw 6.88 million new mobile phone users in the first half of 2015. Data shows that the figure is bringing the country’s total mobile phone users to 1.29 billion. That is more than the smartphone users in Brazil, the U.S. and Indonesia combined, according to Chinese news media. The GSMA study predicted that 4G smartphone connections in China would reach one billion by 2020, up from 100 million at the end of last year, due to the surging popularity of brands like Apple, Samsung and homegrown players including Xiaomi, Lenovo and Huawei. The ratio of mobile phone users to population was higher than 100 percent in nine provincial-level regions, including Beijing, Shanghai, as well as provinces of Guangdong and Zhejiang. Story by Nimfa May Idea for Yibada.
Gallup Finds Mobile Wallets Low Priority for Consumers
It should come as no surprise a Gallup poll released last week found just 13 percent of more than 17,000 consumers surveyed have a digital wallet on their smartphone. We’re approaching 15 percent of consumers now with a mobile wallet on their smartphone. What’s more concerning for providers about Gallup’s poll results is how consumers continue to view certain aspects of mobile wallets such as Apple Pay/Passbook, Google Wallet, PayPal, and others. Security concerns top the list of reasons why consumers shy away from proximity mobile wallets. Obviously, that’s not a surprise because we’ve known this for quite some time. Some 55 percent of respondents were concerned about some kind of security issue such as a hack or losing their phone. Some 21 percent of respondents don’t know enough about mobile wallets to make a decision about them. I found it a bit surprising that as much as companies (and the media) hype things such as Apple Pay and PayPal, consumers have no idea how any of those products fit into their everyday lives. Story by Will Hernandez for Mobile Payments Today.
President Obama Encouraging Families to Put Down Cellphones
Speaking at a press conference for his Connect Home Initiative, President Barack Obama encouraged families to put down their cellphones and engage with one another. “There’s nothing wrong with every once and a while, putting the technology aside and actually having a conversation,” Obama said. Obama said he banned cellphones at the dinner table and thinks others should make an effort to communicate face-to -face. The amount of time people spend on technological devices is growing. According to Mobile Statistics, the average person spends 90 minutes a day on their phone—a total of 23 days a year. Story by Meghan Mistry for Click 2 Houston.
Smartphones Can Improve Health of Poor Urban Women
With a large majority of poor urban women having access to cellphones, the device can be used to improve the health of those at risk of diabetes and other diseases during their childbearing years, says a new study. In the survey of a diverse group of almost 250 young, low-income, inner-city pregnant and postpartum women, the researchers found that more than 90 percent use smartphones or regular cellphones to give and get information. The findings suggest that public health care services can reach poor urban women through personalised cellphone and internet-based approaches. Previous studies had shown that many of these women do not return for obstetric or preventive health visits after delivery. Story in The Economic Times.


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We look at coffee pod machines, including leading brands such as Nespresso, Breville, Aldi, Kmart, Sunbeam and more, reviewed.
20 Oct 2016.
Converting Steem and Steem Dollars into Indian Rupees is easy. You can use cryptocurrency trading exchanges like Poloneix.com or.
Looking back nine years to Northampton Saints’ stunning start, a legendary team-talk from Johnny Sexton and a one-sided.
26 Jul 2016.
Ned Scott believes he's got it. Scott is the cofounder and CEO of Steemit, a social network that runs on a new cryptocurrency called steem. Scott.
2 Jan 2018.
You will first have to convert your Steem dollars into Steem and only then you will be able to convert that Steem into Bitcoin or USD. The reason.
A proposal being voted on by the NFL that would give teams an alternative to the traditional onside kick is gaining some.
Developers tell the GamesIndustry.biz Academy about how to make the most of Steam wishlists, while Valve clarifies its.
Bitcoin Foundation On Twitter Portland General Electric and Pacific Power are working together to spread awareness and tips to help utility customers avoid. Bitcoin on Twitter: "[. ] BTC is no longer an electronic cash system, and if it continues moving in the direction of LN, will stop being peer to peer as well." Close. 83. Posted by. Bitcoin Enthusiast. 11 months ago. Archived.


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Fast Company - Tuesday, 26 November 2013
Apple is looking for a "Payments Software Engineer" to work on a "next generation payment platform," which could be a clue about the secretive company's plans.
Washington Post - Sunday, 24 November 2013
Google has unveiled a debit card for its Wallet app, and while the thing itself is pretty much what you'd expect, the move is surprising. Google was one of the earliest proponents of NFC, or the technology underpinning the tap-to-transact dream.
Computerworld Australia - Saturday, 23 November 2013
Paying for things with our phones takes a backseat to innovative new debit cards.
John Engel - Friday, 22 November 2013
The European Central Bank (ECB) has recommended that banks and other companies involved in mobile payment systems should inform regulators when they experience "major payment security incidents".
Bank System Technology - Friday, 22 November 2013
Two mobile payments ventures, MyCheck and PayPal, explain how they think they can hook customers on mobile payments.


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For several years now, cybersecurity-focused corporations have been acquiring VPN companies and their brands quite aggressively, absorbing and merging their digital services. The last major acquisition happened in September 2021, when ExpressVPN became part of Kape Technologies. Naturally, that latest development raised many questions regarding ExpressVPN’s decision to go from being an independent to a corporation-owned VPN service.
With that said, no matter if you're an ExpressVPN subscriber or if you're looking to become one, you'll want to know what this VPN's recent transition means. That’s precisely why our team approached ExpressVPN and spoke with Harold Li, ExpressVPN’s Vice President, in an effort to clear any doubts regarding whether this VPN is still a trustworthy option.
TechNadu: Will ExpressVPN continue to operate as an independent company under Kape Technologies? In other words, will ExpressVPN remain owned by Express VPN International Ltd., which I assume will become a subsidiary of Kape Technologies? Is Kape Technologies a subsidiary of a different company?
Harold Li: ExpressVPN will continue to operate as a separate business, led by its co-founders, and be operated as a subsidiary of Kape Technologies that is separate from other existing Kape brands and subsidiaries. Kape Technologies is a publicly-traded company, not a subsidiary of any other company.
TechNadu: Will there be any changes to ExpressVPN’s jurisdiction? Will the VPN remain registered in Tortola, the British Virgin Islands?
Harold Li: ExpressVPN will still be operated via a BVI company and subject to BVI law.
TechNadu: Kape Technologies is under the jurisdiction of the United Kingdom? If any authority via legal and bounding measures asks ExpressVPN to track and collect information about a specific individual via Kape Technologies, how will ExpressVPN respond? The jurisdiction of the parent company comes before the jurisdiction of its subsidiaries?
Harold Li: Kape Technologies PLC is incorporated in the Isle of Man and listed on the London Stock Exchange. When it comes to authorities' requests, they are based on the jurisdiction for the VPN service the customer has chosen and will be BVI in our case.
TechNadu: Will ExpressVPN remain completely independent in relation to other VPNs owned by Kape Technologies, such as CyberGhost VPN, Private Internet Access, and other VPNs? Will there be any technology or personnel exchange?
Harold Li: ExpressVPN will remain a separate service from the other Kape brands, which means for us it is business-as-usual operationally.
In terms of exchanging technology, ExpressVPN will continue to be a premium product and maintain its lead position in the marketplace. ExpressVPN will continue to operate separately from other Kape brands, with its own team and product offering, since our user segment differs from that of other Kape-owned brands. The portfolio won’t be rolled together to create identical technologies with different skins.
TechNadu: Crossrider, Kape Technologies' predecessor, has been linked to several malware strains, some of which remain active. Can you explain Crossrider's link to malware? Is the past of Kape Technologies something that should concern existing and future ExpressVPN subscribers?
Harold Li: Crossrider was never involved in developing malware. Instead, it was a development platform used by tens of thousands of independent developers to easily create browser extensions. As with many open platforms, some users wielded the technology in negative ways. Unfortunately, because extensions developed using the platform typically appeared linked to Crossrider in one way or another (signing, shared libraries, etc.), some of these extensions ended up misattributed to Crossrider itself, including by automated adware and malware scanning and removal tools.
As Brian Krebs of Krebs on Security noted at the time, a few rogue developers was not a reason to "cause alarm about legitimate development platforms like Crossrider."
Nonetheless, Crossrider has long been shut down; its co-founders, entire C-suite, and most of its original team are no longer with the company; and Kape’s revenue (as anyone can see in public filings) comes 100% from subscription services or online content publishing.
TechNadu: Kape Technologies owns Webselenese, a company that operates several VPN review websites. After the acquisition took place in March 2021, we’ve seen a shift on those sites, now advertising Kape’s VPNs primarily (while claiming to be unbiased)? What are ExpressVPN’s comments on that?
Harold Li: We understand the important role that tech reviewers play in helping people make informed choices, and hence the importance of editorial independence so consumers can trust what they’re reading.
The review sites owned by Kape subsidiary Webselenese (primarily vpnMentor and WizCase) have publicly stated that they continue to maintain their impartial editorial standards and have been committed to doing so. We’d also note that 5-star ratings of ExpressVPN, Private Internet Access, and CyberGhost predate Kape’s acquisition of Webselenese, and ExpressVPN’s top ranking also predates any deal discussions between Kape and ExpressVPN. You’ll also see that the reviews of Kape-owned Zenmate on vpnMentor (ranked 36th) and WizCase (ranked 8th) are average at best.
Our main focus as ExpressVPN is on delivering the best possible products and services for our users and continuing to prove we provide the best privacy and security service for people everywhere.
TechNadu: Both CyberGhost VPN and PIA (owned by Kape) have started to expand by including an antivirus (supplied by Intego, another Kape-owned company). Can we expect that to happen to ExpressVPN as well, in the future? What’s ExpressVPN's stance on expanding to other cybersec-related domains?
Harold Li: As a separate business, ExpressVPN will continue to have its own product roadmap, although of course, we may draw on Kape’s resources and insights. Broadly speaking, we look forward to continuing to innovate and providing users with protection from a wider range of threats, but at the moment we don’t have specifics about our technology and product roadmap to share today - stay tuned!
TechNadu: How does ExpressVPN plan to strengthen its position and brand image? Via additional audits? When can we expect another audit? Will it be performed by a previously known partner (such as Cure53 or PwC)?
Harold Li: Yes, we will continue to prove our commitment to privacy and security with more regular audits. We've always led the industry in transparency through audits, and we're going to continue doing so. The next audit is likely to be publicly published early next year.
TechNadu: Does ExpressVPN plan to open-source its software, following the footprints of Private Internet Access and other VPN services?
Harold Li: We have launched many trust and transparency initiatives - publishing multiple third-party audits, open-sourcing Lightway, launching the VPN Trust Initiative, just to name a few - and these will continue when we join Kape Technologies. We don’t have specific plans to share today, but stay tuned!
TechNadu: Does ExpressVPN plan to remain a part of the VPN Trust Initiative and ioXt Alliance? Due to the recent changes, does ExpressVPN plan to re-apply for ioXt certification?
Harold Li: Yes, ExpressVPN remains a part of the VPN Trust Initiative and ioXt Alliance. Our ioXt certification was recently renewed in September 2021.
TechNadu: In September 2021, reports started circulating regarding Daniel Gericke (ExpressVPN’s CIO), and his role of being an intelligence operative for the UAE. With that said, do you believe that ExpressVPN owes a more extensive transparency report on Gericke’s involvement with the VPN?
Harold Li: You may find our full statement on this on our blog, along with an additional post that details Gericke’s involvement in our company and how that further strengthened the security of our systems and products in many ways, direct and indirect.
TechNadu: Is there a reason why ExpressVPN decided not to inform its subscribers about Gericke’s involvement on time, once he became ExpressVPN’s CIO?
Harold Li: We don’t typically have appointment announcements. That said, Daniel Gericke’s role at ExpressVPN was public information, available on websites including LinkedIn.
TechNadu: Is Gericke still employed by ExpressVPN? Is he still ExpressVPN’s CIO?
Harold Li: Yes, Gericke is still part of the ExpressVPN team and continues his work helping to enhance our service’s privacy and security protections. We’d also note that as TechRadar rightly pointed out, "cybersecurity companies often hire former military officers and intelligence experts." Gericke’s experience and expertise offer insights into defense that are difficult, if not impossible, to come by elsewhere, helping to ensure we can best protect users from a wide range of adversaries.
TechNadu: Just recently, Edward Snowden, perhaps the most prominent advocate for online privacy, explicitly advised against using ExpressVPN. What are ExpressVPN’s comments on that?
Harold Li: The Snowden tweet definitely went far and wide, but it wasn’t based on a deep understanding of the facts of the situation, so we were disappointed to see that kind of tweet from Snowden.
We also provided additional clarifications and statements published in this piece of follow-up coverage on the news around the DPA.
TechNadu: What would your message be to any concerned ExpressVPN subscriber who might be thinking of switching to an alternative VPN right now? Should we still trust ExpressVPN, and why?
Harold Li: We've been a top consumer pick for a long time due to our leading technology, service, and brand - and we will continue to work to maintain that position. We know that users turn to us because we’re not just at the forefront of privacy- and security-protecting policies and practices but also a clear leader in proving those commitments through independent audits, third-party penetration tests, and privacy-preserving technological innovation. At the end of the day, that concrete evidence is what counts.
We have long been industry leaders in multiple areas such as:
- Industry-first security innovations: With our industry-first TrustedServer technology, our VPN servers run only on volatile memory (RAM), not on hard drives. This guarantees that all software and data on a server is wiped every time it is powered off and on again. This significantly minimizes any risk that servers could inadvertently contain sensitive user information, as well as prevent possible hackers from persisting between reboots. Others in the industry have since followed our lead to roll out RAM-only servers as well. The privacy and security protections that TrustedServer provides were thoroughly tested by PwC in an independent audit.
- A faster, more reliable, and more secure experience with Lightway: Most VPN companies use off-the-shelf protocol options, but ExpressVPN engineered our own to cater to our users’ specific needs. We now offer our own in-house next-generation VPN protocol, Lightway, on all platforms. Lightway’s core is now open source, as well as independently audited by Cure53.
- VPN partner of choice for other major tech companies: ExpressVPN is the only VPN company that is trusted by major tech companies like HP, Acer, HMD Global (home of Nokia phones), Dynabook (formerly Toshiba), and Philips, to ensure that their users are protected right out-of-the-box.
What’s your opinion about ExpressVPN after having read TechNadu's interview with the VPN's Vice President? Let us know your thoughts via the comments section below. And lastly, thank you for visiting TechNadu!


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NPD Study: Online Radio is Fastest Growing Choice
Apr 6, 2012 12:08 PM
Port Washington, NY – Apr 3, 2012 – According to an annual study of the consumer music market in the U.S. by market research company The NPD Group online radio is the fastest growing music listening option among U.S. consumers. In 2011, 43 percent of U.S. Web users chose to listen to music via Pandora, Slacker, Yahoo Music and other online radio options, which is nine percentage points higher than the previous year. At the same time listening to music on AM/FMradio stayed relatively steady (84 percent) in 2011, as did CD listening (74 percent).
Based on the findings of NPD’s “Annual Music Study,” there were 18 million more online radio listeners in 2011. Listening to free online radio is most popular among young adults age 18 to 25, and strong listener growth is also occurring among the 36- to 50-year-old age segment.
“Licensed online radio services are having two important effects on consumer music listening habits,” said Russ Crupnick, senior vice president of industry analysis at NPD. “Listeners are citing these services as a reason to do less file sharing, and they credit online radio with improving their ability to discover new artists.”
Although consumers are overwhelmingly opting for free ad-supported online radio options, consumers’ conversion to paid versions of online, on-demand radio remains low. While 42 percent of Web users listened to free radio options in 2011, just 3 percent paid to listen to radio online.
The draw of unlimited online-radio listening and music discovery is also much more compelling to consumers than performing the same activities on social media sites, according to NPD. Just 12 percent of Web users listened to music integrated into Facebook or other social networks by services like Spotify and MOG. “There’s no doubt that Facebook has helped drive music listening and discovery,” said Crupnick, “but what is not yet clear is the platform’s importance, in terms of ongoing music usage and purchasing.”
The data comes from NPD’s “Annual Music Study,” which is based on online surveys of 5,799 U.S. consumers age 13 and older. NPD conducted consumer surveys between Dec. 14, 2011 and Jan. 3, 2012.


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Medical marijuana dispensary debated in Prince George
Public hearing for proposed pot 'pharmacy' scheduled for Monday night
Prince George's first proposed pot dispensary is already running into trouble over concerns about its location.
John Stiles and a business partner have unveiled plans for an online medical marijuana dispensary in a building close to downtown.
City planner Mandy Stanker says staff are advising against the permit because of its proposed location at 1798 Nicholson St.
Prince George has a medical marijuana bylaw requiring businesses to locate in industrial areas, where low traffic and windowless, high security buildings are common.
In this case, the proposed location is about 200 metres from a home directly behind the College of New Caledonia, and close to the Salvation Army.
"It's getting to be a very busy intersection," said Stanker.
No walk-in customers
Stiles says the dispensary won't be a retail outlet. His company, Northstar Lyon Holdings, would use the building to store drugs, take online orders from patients with prescriptions, and prepare and dispense medical marijuana in prescription doses. Their product would then be delivered to customers by courier vans.
"We can't invite people in off the street to conduct business. There's no walk-ins or browsers, and no [publicity] placards," Stiles told Prince George City Council in March.
Stiles also told council his company would abide by strict rules set by Health Canada governing everything from ventilation to security.
"For all intents and purposes, we are a pharmacy," he said.
City council will hold a public hearing Monday at 7 p.m. PT about the proposal.
Stiles declined to speak to CBC News ahead of the hearing, where he will be seeking a Temporary Use Permit.
This is the first such application in Prince George. Vancouver is currently considering licence proposals from nearly 100 medical marijuana dispensaries.
With files from Andrew Kurjata


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Quarles & Brady has announced the creation of a Time Venture Fund (TVF) to provide startups with the crucial legal advice needed at the formation stage while also providing a social benefit to the startup and entrepreneurship communities.
The goal of the program is to attract top startups and help entrepreneurs grow their businesses through bespoke and innovative engagements at the most crucial time for the startups.
TVF is an allocation of hours the firm has committed to the startup community. The firm is not and will not take equity in the companies. Six proposals have already been approved to date.
– Brad Vynalek, Quarles & Brady


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The tax police in Italy conducted an inspection at a Gucci facility in Milan, as part of an EU investigation into potential violations of business practice regulations. This information was provided by a source who had direct knowledge of the matter on Wednesday.
On Tuesday, the Guardia di Finanza and European Commission agents conducted an inspection at a site in Milan related to the production of travel items, handbags, and leather goods. Gucci, part of Kering, declined to comment to Reuters.
The European Commission stated antitrust regulators had raided fashion companies in multiple EU countries. The Commission did not disclose the companies or countries involved but sent information requests to other companies in the same sector.The European Commission, which runs the EU’s powerful antitrust authority, is looking into allegations the companies had violated the bloc’s competition rules.
Related: Estée Lauder To Buy Tom Ford For $2.8 Billion
If a company raided is found guilty of antitrust violations, it risks large fines but can be granted immunity if it cooperates with the commission and amends its behaviour.
The world’s second largest luxury group, Kering also includes fashion houses Yves Saint Laurent and Balenciaga.


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OTTAWA (Reuters) - Canada is digging in its heels against a WTO proposal on agriculture that it says would ruin a decades-old marketing scheme that has helped its dairy and poultry farmers survive foreign competition.
Producers and processors in Canada’s dairy and poultry sector have vowed to defend the “supply management” regime that controls production and prices, and limits imports with high tariffs to ensures stable incomes.
But trade experts say such protected industries will inevitably be forced to end their isolation and expose themselves to global competition. The result will be a liberalized version of supply management and the industries will survive, they say.
In the Doha Round of talks at the World Trade Organization, mediators issued revised proposals earlier this month that would force Canada to open up poultry and dairy markets to more imports.
That would spell death for an industry that generates C$42 billion ($42 billion) in activity and provides 250,000 jobs, industry leaders say.
“If those proposals were all accepted we would not be able to run an effective supply management system in Canada,” said David Fuller, chairman of Chicken Farmers of Canada.
“It is a program that has not put surpluses on the world market ... What we’re trying to provide is an opportunity for Canadian jobs, for stability,” he said.
But securing a captive Canadian market is seen as crucial to only a small segment of farmers, and Canadian agriculture exporters see considerable gains from the WTO proposal as it now stands.
“Our previous analysis of the working text estimated that Canadian farmers would realize a potential gain of up to $3 billion each year in the sale of just seven key commodities,” said Darcy Davis, president of the Canadian Agri-Food Trade Alliance.
“From our initial assessment, the terms of this text would maintain that gain.”
The treatment of food products is one of the main stumbling blocks in the Doha Round agricultural talks, and breakthroughs on the issues of politically “sensitive products” and import quotas could be key to a comprehensive global trade deal.
Canada’s Conservative government is concerned enough about the supply management sector that it has voiced its rejection of the latest draft and vowed not to back down.
Agriculture Minister Gerry Ritz has tried unsuccessfully to have all supply-managed agriculture designated as “sensitive products,” meaning they would be subject to smaller cuts in tariffs than other products.
In supply management, the government regulates production quotas so that they match consumer demand. Prices are set by a special farmer-dominated commission. The government blocks most imports with tariffs that average more than 200 percent, but it allows limited market access by permitting a small import amounts at a lower tariff.
For example, the average customs tariff on chicken is about 230 percent. Eight percent of chicken consumed in the country is produced elsewhere.
Set up to prevent big price swings, supply management is deeply rooted in Canadian farm culture, coming into force in its current form in the mid-1970s but with vestiges dating back to the early 1920s. All three major political parties defend it.
But critics say Canada will have to loosen up its system with or without Doha because it is inefficient.
“The system is geared to ensure a living for the inefficient marginal producer,” said Michael Hart, a trade expert at the Carleton University Centre for Trade Policy and Law in Ottawa. “At some point the government is going to have to solve this crisis.”
Consumers pay higher prices than they would in a free market, he said, although farmers deny that. Production quotas have become so costly to acquire that they are barriers to access to the industry for newcomers, he said.
The WTO process will only speed up a process that is already under way, Hart said.
“There will be some lowering of the tariffs and some increase in the minimum access and that will have some impact on the marginal players but the industry will survive.”
Reporting by Louise Egan; Editing by Peter Galloway


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Yet another department store has bucked the d-store lull. Today, J.C. Penney Co. Inc. pulled off a better-than-expected Q2 finish, with gains in comparable-store sales and revenues.
The Plano, Texas-based chain’s shares are surging in midday training — up more than 8 percent at press time — after the firm narrowed its net losses by 20 percent and improved its comps more than 4 percent in the quarter, which ended Aug. 1, 2015.
J.C. Penney CEO Marvin Ellison said that while he’s pleased with the firm’s improved performance, there’s still significant work to be done.
During the company’s Q2 conference call, Ellison also acknowledged that J.C. Penney is “admittedly behind the retail industry” when it comes to omnichannel. But as proof that J.C. Penney is prioritizing digital development, the CEO pointed to JCP’s recent hiring of Mike Amend, former VP of online, mobile and omnichannel for Home Depot, as VP of omnichannel, and Mike Robbins, former SVP of global supply chain for Target Corp.’s U.S. stores, as SVP of supply chain.
The company said its top-performing merchandise divisions in the quarter were men’s, home, Sephora and fine jewelry.
Net Income: J.C. Penney said its net losses for Q2 totaled $138 million, a 20 percent decline from net losses of $172 million in last year’s comparable quarter.
EPS: Losses per diluted share were 45 cents, down from the year-ago quarter, when losses per diluted share were 56 cents.
Net Revenue: Net revenues totaled $2.9 billion, a 2.7 percent increase from the year-ago quarter, when revenues were $2.8 billion.
Hit, Miss or Beat: J.C. Penney’s performance beat market matchers’ expectations for the second quarter. Analysts polled by Yahoo Finance had predicted revenues of $2.7 billion and EPS losses of 48 cents.
Executive Insights: “We’ve done a much better job of planning our business this year, and we are confident that we will have a strong fall season. We’re also confident that we will achieve our full-year guidance of a 45 percent comparable sales growth and all of the financial components of our annual guidance.”
— CEO Ellison, on the Q2 conference call
Ellison on Sephora:
“Sephora anchors our center core growth strategy. Comparable-store sales through our Sephora inside J.C. Penny locations grew by double digits in the second quarter. We have Sephora in over half of our stores now, and it’s also available on jcp.com. I’m very pleased with this new digital expansion of our partnership, which we launched this past quarter. Sephora not only drives traffic in sales to J.C. Penny, [it is also a] point of differentiation that cannot easily be replicated in our industry.”
Ellison on omnichannel:
“Although we are admittedly behind the retail industry in our omnichannel strategy, I remain very satisfied with the progress we’re making.”
Looking Ahead: The company increased its SG&A and EBITDA guidance and reiterated its remaining 2015 full-year guidance.
Analyst Insights: “We were impressed with J.C. Penney’s results today in light of mixed results earlier this week from industry peers.” –Robert Drbul, Nomura Securities International, Inc. analyst


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Want to know something scary? Of the 90 million pounds of chocolate candies on track to be sold this Halloween, just a tiny fraction will be fair trade. That opening has probably been used so many times by so many fair trade and human rights advocates over the years that it verges on a cliché. And what’s even scarier than that? We keep saying this because the reality is that we’ve come to accept the very fact that farmers work in poverty, that children work in dangerous conditions, and that forests around the globe are destroyed for the treats that we hand out to children. And that is truly scary.
Kid’s Candy – Made with Kid’s Labor
Child labor is not the only issue in conventional chocolate supply chains, but as millions of people stock up on candy to give to the costumed children who come to their doors, the cruel irony is unavoidable.
Over the past decades, big chocolate companies have made multiple pledges to end forced and child labor and deforestation. Time and again, they’ve set timelines for these pledges—2005, 2008, 2010, and still there has been little to no change. In fact, both child labor and deforestation rates are reportedly on the rise. Most recently, Hershey’s, Mars and Nestlé have all admitted that in 2020 another self-declared deadline will come and go and they will not eliminate child labor in their supply chains. Despite controlling the majority of the chocolate market, they continue to put their own profits ahead of the livelihoods—and the lives—of the people who grow the cocoa.
It’s important to be clear on a point: child labor isn’t just a few kids helping their parents on the farm. Regular chores are a part of life for many farm kids. Instead, child labor is often defined as work that is “dangerous, dirty, or degrading,” or interferes with their education—or all of the above. For child workers on cocoa farms, that can mean handling machetes, carrying heavy loads, handling pesticides or other agrochemicals, and working long days. The Washington Post did an in-depth article this year profiling some of these children who labor, often for very low wages, on neighboring farms to the ones their parents might cultivate. And while their individual stories vary, there’s a common theme: dire poverty.
Big Chocolate’s Model is Built on Exploitation
The low prices that the Big Chocolate companies pay for cocoa have compounded year on year—theirs is a model built upon the backs of farmers and farm families. It’s not just one year of low prices, it’s harvest season upon harvest season, going back centuries. It’s built into the colonial model of extraction, exploiting those who work the land for as little as possible. That system has delivered tons of cheap chocolate to supermarket shelves—and destruction all along the supply chain. Our latest infographic breaks down the problems in a chocolate bar –and a few of the solutions we need to work towards—download it here.
Fair Trade your Halloween
This Halloween, there are a few things you can do to make better choices while stocking your candy bowl:
- Choose fair trade, organic chocolate. That’s an obvious first choice! Our list of Mission-Driven Brands has some good options, including some with small sizes perfect to hand out for Halloween.
- Skip the palm oil, regardless of what treat you choose. Cocoa isn’t the only problematic ingredient in the candy aisle. Most palm oil has its own links to forced labor and massive deforestation. Look for candies and snacks that use other ingredients.
- Look for fair trade sugar in your candies. There are more and more options available—gum with fair trade sugar and other ingredients, for example.
- Get creative. We won’t be the people to tell you to give out raisins. Instead, look for other snacks that are kid-friendly—for the kids in your neighborhood, and those in communities around the globe.
- Go with the trick along with the treats! Hand out copies of our chocolate infographic to families who come to your door—we dare you!
The Big Chocolate companies’ inaction is making it so child labor in chocolate is almost a cliché. But that doesn’t mean we need to accept it.
Get involved in changing the system:


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Force Gurkha SUV, rival to Mahindra Thar, becomes expensive by ₹51,000
Force Motors has hiked price of its 4X4 off-road SUV Gurkha from this month, According to its official website, the starting price of Force Gurkha SUV has been revised to ₹14.10 lakh (ex-showroom). It is an increase of ₹51,000 over the price at which the SUV was launched last year.
Force Motors had launched the off-road SUV on September 27 at a starting price of ₹13.59 lakh (ex-showroom). In its new generation, the Gurkha has been upgraded with design tweaks and tech to rival Mahindra Thar SUV.
Also check these Cars
The second generation Force Gurkha SUV now appears more of an adventure lifestyle vehicle with the introduction of several creature comforts and modern features. The SUV now sports a bolder look with a new front grille. It is flanked by circular bi-LED headlamps and LED DRLs which sit above the new set of fog lamps. On the sides, it has 16-inch alloy wheels placed within the pronounced wheel arches with black claddings. It also gets a functional snorkel which helps the Gurkha with a water-wading capacity of 700 mm. At the rear, Gurkha gets a new new set of taillights as well as a ladder to access the roof-mounted luggage carrier.
2021 Force Gurkha SUV comes with an upgraded BS 6 compliant 2.6-litre diesel engine mated to a 5-speed manual gearbox. However, Force Motor does not have any plan to offer the SUV with an automatic transmission yet.
Under the hood, 2021 Force Gurkha comes with a 2.6-litre diesel engine which used to power the previous generation model as well. It can generate a maximum output of 89 bhp and 250 Nm of peak torque. The 2021 Gurkha is be offered with an AWD option. Force has also tweaked the suspension setup with double wishbone and coil springs. It can also crawl up gradients of 35 degrees.


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One of Sears Holdings Corp.’s biggest and longest-term shareholders is leaving his position as an independent board member and Wall Street isn’t pleased.
Bruce Berkowitz will be leaving the Sears board at the end of the month after nearly two years. He founded Fairholme Capital Management LLC, which is the retailer’s second-largest shareholder and made its first investment in Sears about a decade ago.
Wall Street didn’t seem upbeat about the change and Sears’ stock fell by 11.5 percent in Monday trading, to close at $5.99. Berkowitz has been one of the only vocal supporters of Sears, which he sees as drastically undervalued given its significant real estate holdings. He’s said the true value of the retailer’s stock sits upward of $90.
Nevertheless, Fairholme on Friday liquidated one of its funds, according to a disclosure with the Securities and Exchange Commission. The fund held roughly one percent of Fairholme’s total Sears stake. Fairholme still holds around 26 percent of Sears’ stock.
Edward Lampert, Sears’ largest shareholder through his hedge fund ESL Investments, in a statement thanked Berkowitz for his “long-term commitment and investment” in Sears and said his “leadership, guidance and counsel as a board member have been invaluable to our company.”
When asked if there was any particular reason for Berkowitz’s departure, a Sears spokesman said only that it was Berkowitz’s decision and that it “was not the result of any disagreement with the company on matters related to the company’s operations.”
“Mr. Lampert and Mr. Berkowitz have a long-standing partnership and continue to have great respect for each other,” the spokesman added.
The spokesman said Sears “has not been informed of any decision with respect to Mr. Berkowitz’s investments in Sears Holdings” when asked if Sears expects Fairholme to pull back from its investment in the retailer.
Berkowitz for his part wished the company “all the best as it continues to execute on its strategic priorities,” but a Fairholme spokesman shed a little more light on why he’s decided to step away from the board. He added that it was not aware that a Fairholme fund holding shares of Sears was liquidated until Monday.
“In accepting the invitation in February 2016, Mr. Berkowitz believed that his board service would enable him to better communicate Fairholme’s perspective in substantially greater depth and detail than would otherwise have been the case,” the spokesman said. “Mr. Berkowitz believes that he has achieved that objective and was pleased to have the opportunity to provide input during the formulation of the company’s strategic restructuring program, which was announced earlier this year.”
The spokesman went on to say that it was Berkowitz’s intention “from the start” for his time on the board to be “as limited as possible.” He added that Berkowitz did not accept compensation related to the role.
Fairholme also holds a sizable stake in bankrupt Sears Canada and over the summer, Berkowitz and Lampert said they were considering a joint investment in the retailer, which broke off from Sears Holdings in 2012. The deal fell through and Sears Canada last week was forced to liquidate.
Berkowitz has long been a supporter of Sears and Lampert, but began upping his stake in the retailer in late 2015, taking more of an activist stance. He pushed the company as a “real estate behemoth in retailer’s clothing.”
During a June conference call with Fairholme investors, Berkowitz put Fairholme’s stake in Sears at around 27 percent of the company and said it also owns a majority of its debt through a 58 percent holding of Sears’ outstanding notes due 2019.
In a television appearance around the same time, Berkowitz said, “From failed retailers come great real estate empires” and after characterizing Sears as a company “very sensitive” to its remaining roughly 140,000 employees, admitted: “At some point…you have to face the realities of the market.”
Sears’ spokesman said he wouldn’t comment “on market speculation” when asked if Berkowitz’s influence had anything to do with Sears’ seemingly more aggressive moves toward asset sales, including $460 million in real estate so far this year and the recent $525 million sale of its well-known Craftsman brand.
During a June conference call with Fairholme investors, Berkowitz pointed out that Sears has sold at least 2.8 million square feet of its real estate since 2016, with a going rate of about $100 per square foot. He added that “most of the recent store closures are not the company’s most valuable real estate.”
Earlier this year, Sears launched a restructuring aimed at $1.25 billion in yearly cost savings and has since closed closed 150 stores, and another 28 Kmart locations are set to close by December, on top of hundreds more closures over the last decade. At least 400 staffers, including several at the executive level, were laid off earlier this year. Despite these efforts, Lampert continues to float the company with short-term loans, the most recent of which totaled $100 million poised to see the retailer through the holiday season.
While Sears this year inked a deal with Amazon to sell smart appliances in-store and launched apparel company Regatta Great Outdoors, these efforts seem almost perfunctory relative to the continued decline of its retail business.
Speculation of bankruptcy has been following Sears for some time, and the normally coy company even warned in June that its ability to continue as a going concern was shaky as it didn’t have enough cash to keep operating through 2018.
For More, See:


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ChemChina has received approval from the US Federal Trade Commission (FTC) and the European Commission for the proposed $43 billion acquisition of Syngenta, but first both companies must divest some of their pesticide business.
Almost mirroring last week’s EU Commission’s conditional approval for the Dow and DuPont merger, ChemChina and Syngenta have agreed to divest three types of pesticides, in order to settle FTC charges that their proposed merger would harm competition in several U.S. markets. To win EU approval, ChemChina must divest significant parts of its European pesticide and plant growth regulator business.
According to a complaint filed by the FTC, the merger as originally proposed is likely to cause significant competitive harm in the U.S. markets for three pesticides:
- the herbicide paraquat, which is used to clear fields prior to the growing season.
- the insecticide abamectin, which protects primarily citrus and tree nut crops by killing mites, psyllid, and leafminers.
- the fungicide chlorothalonil, which is used mainly to protect peanuts and potatoes.
Syngenta owns the branded version of each of the three products at issue, giving it significant market shares in the United States. ChemChina subsidiary ADAMA focuses on generic pesticides and is either the first- or second-largest generic supplier in the United States for each of these products.
The complaint alleges that without the proposed divestiture, the merger would eliminate the direct competition that exists today between ChemChina generics subsidiary ADAMA and Syngenta’s branded products. The merger would also increase the likelihood that U.S. customers buying paraquat, abamectin, and chlorothalonil would be forced to pay higher prices or accept reduced service for these products, the complaint states.
The proposed settlement requires ChemChina to sell all rights and assets of ADAMA’s U.S. paraquat, abamectin, and chlorothalonil crop protection businesses to California-based agrochemical company AMVAC.
FTC staff cooperated with antitrust agencies in Australia, Canada, India, the EU, and Mexico, often working closely with their staff to analyze the proposed transaction and potential remedies, and reaching outcomes that benefit consumers in the United States.
In ChemChina and Syngenta’s release, the companies said these approvals represent a major step towards the closing of the transaction, which is expected to take place in the second quarter of 2017.


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SEOUL (Kyodo) -- South Korean President Moon Jae In on Monday demanded that Japan withdraw toughened rules on exports of semiconductor-related materials to South Korea, in his first public comment on the Japanese move.
"I demand Japan's withdrawal of such a measure and a sincere discussion between the two countries," Moon said at a meeting with government officials.
The president also hinted at retaliation, saying if the Japanese move causes "actual damage" to South Korean companies, the government "will have no choice but to take necessary measures."
"But I really do not want that to happen," Moon added.
Japan announced on July 1 that suppliers will be required to seek approval before exporting to South Korea three materials needed to produce semiconductors and display panels. The export curbs took effect Thursday.
Tokyo has cited "significant damage to the relationship of mutual trust" between the countries when announcing the move, as it views Seoul as having failed to address a months-long bilateral dispute over compensation for wartime labor.
Moon also said Monday that the government will work with affected companies to prepare short-term measures so that any negative impact from the tightening of the export rules could be minimized.
Amid growing concern among South Korean companies in the wake of Japan's export curbs, the government said last week it is considering filing a complaint with the World Trade Organization as well as other "corresponding measures."
Some civic and industry groups have called for a boycott of Japanese products, with a group representing small and midsize businesses saying its members have stopped selling Japanese products.
Ties between Seoul and Tokyo have worsened since South Korea's top court last year ordered Japanese companies to compensate groups of South Koreans for wartime forced labor.
The companies have refused to comply, with the Japanese government taking the position that the issue of compensation was "completely and finally" settled under a 1965 bilateral agreement.


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Wet petfood manufacturer De Haan Petfood BV has temporarily stopped production as a result of an incident in the petfood production facility in Nieuwkoop, the Netherlands.
In the afternoon on May 7, an explosion occurred in one of the retorts in which under-pressure cans are sterilized. One employee was slightly injured in the blast, and other damages and consequences are currently being assessed.
Why these companies lead the global petfood industry in
sales, growth and innovation
Petfood companies who promote their support of causes in their marketing campaigns are staying innovative in these uncertain times
The company builds on its boutique business with three new lines for pet stores, including baked dog food and treats
Original Pet Food Co.'s line of dog meals are made from US Department of Agriculture certified organic, grass-fed beef, high in omega-3 fatty acids and conjugated linoleic acid, according to the company.
Precise Pet Products, from Texas Farm Products Co., has a canned variety in its Precise Holistic Complete line for dogs and cats.
Dick Van Patten's Natural Balance Pet Foods Inc. Indoor Ultra cat formula offers lower fat levels and increased fiber to support the less active lifestyle of indoor cats.
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Why have the large diversified media companies been such strong [stock market] performers, despite the rise of the Internet?
Investors are starting to pay less attention to the device, and more to the content. Companies that make the entertainment and content viewed on the bevy of new mobile devices, websites and Internet-connected TV devices are winning new appreciation with investors. Disney (DIS), Time Warner (TWX) and Viacom (VIA.B) shares are all at or near their 52-week highs as investors appreciate the value of the content, not just the hardware. For instance, a healthy piece of [Disney’s] growth is coming from digital-streaming deals with Netflix and Amazon. And at Time Warner, part of the company’s potential upside comes from a number of digital projects ranging from HBO Go, TV Everywhere and All Access. Disney’s $4 billion purchase of Star Wars creator Lucasfilm is another example of how media companies are bolstering their content. The goal is increasingly to score in the digital world no matter where, or how, consumers are accessing content.
If investors are paying less attention to the device and more to the content where should the focus of your public company be, Mr. Broadcaster?
And for any broadcasters who wish themselves to be in the distribution business rather than the content one, what do investors know that broadcasters do not know?
What would happen if we crowed less about our ubiquity and more about our content innovations?
In fact, what if we crowed less and innovated more?