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LG pulls plug on mobile business unit
South Korean electronics giant LG Electronics is closing its mobile business unit.
In a statement, the company says the decision was approved by its board of directors earlier today.
It notes the strategic decision to exit the "incredibly competitive" mobile phone sector will enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services.
BBC reports that in January, the South Korean electronics giant said it was looking at all options for the mobile division after almost six years of losses totalling around $4.5 billion.
It points out that while Samsung and Apple are the two biggest players in the smartphone market, LG has suffered from its own hardware and software issues.
As LG struggled with losses, it had held talks to sell part of the business but these fell through, it adds.
LG says it will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region.
“LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. Details related to employment will be determined at the local level,” says the company.
“Moving forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas. Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products.”
The company points out that the wind down of the mobile phone business is expected to be completed by 31 July, although inventory of some existing models may still be available after that.


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Disappointing quarterly results, including a subscriber slump at AT&T and a weak profit forecast from Procter & Gamble, held back the stock market Wednesday.
The results from the two big-name companies came on a day when many corporations reported their first-quarter performance, with mixed results. The Dow fell 0.2%.
The Dow Jones industrial average was down 0.2% at 14,689 at 3:30 p.m. Wednesday. The S&P 500 index rose two points to 1,581. The Nasdaq composite was up three points, or 0.1%, at 3,273.
P&G, the maker of Tide detergent and Gillette razors, dropped 5.3% to $77.65 after its profit forecast missed expectations from financial analysts who follow the company. A mixed response to the company's new products is weighing on its prospects.
AT&T dropped 5.8% to $36.75 after it lost phone subscribers from its contract-based plans as smartphone sales slowed.
Investors were also disappointed by sales growth at biotech giant Amgen and flat revenues at drugmaker Eli Lilly.
The prices of oil and gold rose and the yield on the benchmark 10-year Treasury note was unchanged.
Investors are taking their cue from a heavy dose of quarterly earnings this week.
While the majority of companies have reported better-than-expected profits so far, their sales haven't been as strong, suggesting they are struggling to grow.
69% of companies in the S&P 500 have beaten expectations, better than the 10-year average of 62%, according to S&P Capital IQ. However, only 42% have beaten revenue forecasts.
Looking ahead, the outlook dims. Of the 35 companies that have given earnings forecasts for the second quarter, 28 are "negative," according to S&P Capital IQ, with only four "positive" and three "in-line."
"We think that most managements are appropriately cautious in their outlooks, because it's very possible that the second-quarter will continue to slow," said Jim Russell, a regional investment director at U.S. Bank. "We're watching with cautious optimism that this is a second-quarter-only soft patch in the economic data."
A report Wednesday that orders for long-lasting U.S. factory goods fell more than economists expected added to signs that global growth is cooling.
The Commerce Department said orders for durable goods declined 5.7% in March following a 4.3% gain the previous month. February's figure was also revised lower.
Stocks logged their biggest weekly drop in five months last week after growth in China, the world's second-biggest economy, slowed. Weaker hiring and manufacturing growth have also weighed on the stock market this month.
The market's gains in April have been modest after a first-quarter surge that pushed both the Dow and the S&P 500 to record highs. The Dow is up just 0.8% in April while the S&P 500 has gained 0.6%.
During the first three months of the year, the Dow and the S&P 500 averaged monthly gains of more than 3%, driven by optimism that the housing and job markets were recovering and that company earnings would continue to climb.
There were some bright spots for investors Wednesday.
Yum Brands, which owns KFC, Pizza Hut and Taco Bell, was among the gainers, advancing 7% to $68.70. Yum reported earnings late Tuesday that exceeded the expectations of financial analysts.
Boeing climbed 3.6% to $91.27 after the airplane maker said its first-quarter net income rose 20% despite problems with the 787 Dreamliner. The company said it would still meet its financial and delivery targets this year.
In government bond trading, the yield on the 10-year Treasury note was little changed at 1.71%.

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RETOSA and Better Tourism Africa team up to promote sustainable tourism in SADC.
The Regional Tourism Organisation of Southern Africa (RETOSA) has partnered with the African Responsible Tourism Awards (ARTA) to encourage more entries to the awards from the Southern African Development Community (SADC). RETOSA is the SADC body responsible for the destination marketing of the region, which is made up of 14 amazing countries. The primary objectives of RETOSA are to facilitate and promote the development of equitable and ethical tourism through sustainable initiatives, effective destination marketing, and improved regional competitiveness.
For the fourth year running, Wesgro, the official tourism, trade & investment promotion agency for Cape Town and the Western Cape, is the headline sponsor. The aim of the awards is to inspire change in the tourism sector by showcasing examples that tourism providers can learn from. This links perfectly with RETOSA’s objective to grow the capacity among tourism providers to deliver tourism in the SADC region that is sustainable.
Thembi Kunene-Msimang, RETOSA’s Chief Executive Officer: Acting and a judge in the 2018 African awards says:
“One of our objectives is to mainstream responsible practices across all RETOSA member states. The African Responsible Tourism Awards not only recognises the efforts of tourism organisations to operate responsibly, it also demonstrates the difference that taking responsibility can make. It can educate and inspire others to be more responsible. Highlighting individual achievements can help SADC achieve theirs.”
Thus far there have been no shortages of responsible tourism award winners from SADC. In the three years that the African Responsible Tourism Awards has been running, a whopping 46 awards have been handed to tourism organisations from SADC countries. Winners have flown flags from Botswana, Mozambique, Namibia, South Africa, Swaziland and Tanzania.
Tourism organisations from SADC countries have also gone on to shine against stiff competition in the global challenge – the World Responsible Tourism Awards. SADC countries have racked up 11 wins since 2015.
Despite the stellar success of tourism organisations from SADC in the African and world awards, there are still many responsible tourism champions that are yet to step into the spotlight. The partnership between RETOSA and ARTA aims to increase the number of candidates entering the awards from SADC countries. As a representative of 14 Southern African countries, RETOSA is in a good position to publicise the awards and reach new candidates.
Heidi van der Watt, founder of the African awards and director of the organisers, Better Tourism Africa, is also enthusiastic about the partnership:
“Some stories of responsible tourism from South Africa, Namibia and Botswana are very well-known. But there are thousands of tourism organisations in SADC and we are sure that there are other responsible tourism champions among them. We’re hoping that this partnership will help us find new responsible tourism success stories, particularly from the lesser-represented countries. We look forward to hearing of exemplary workplace practices in Malawi or innovation in energy management in Zimbabwe.”
Entries for the 2018 African Responsible Tourism Awards have now closed. The submissions will be reviewed by the judging team and the winners will be announced at a ceremony that will be held on Wednesday 18 April 2018 at the Cape Town International Convention Centre. The ceremony is part of the responsible tourism programme at WTM Africa, which takes place from 18 to 20 April 2018.
Official hashtag: #ARTA18
Official twitter handle: @RTAwardsAfrica
Text and Images Issued by Better Tourism Africa
Tel: +27 662 5410
The Regional Tourism Organisation of Southern Africa (RETOSA) is a Southern African Development Community (SADC) body responsible for the tourism destination marketing across the Southern African region’s 14 Southern African countries. RETOSA aims to increase and reinforce awareness of SADC as a desirable vibrant tourist destination, with the purpose to increase tourism arrivals, tourism revenue and investments into the region as well as improved regional competitiveness thus promoting socio-economic development.
About Better Tourism Africa
Better Tourism Africa (previously the International Centre for Responsible Tourism – South Africa), a non-profit organisation established in 2006, works alongside government, the private sector and communities in Africa to implement the objectives of Responsible Tourism as described in the Cape Town Declaration. We believe tourism should be harnessed to create better places for people to live and to visit. Our work includes advocacy, training and capacity-building, research and technical advisory services.
The Western Cape is a region of unlimited potential, and this translates into unlimited opportunity. Whether you’re interested in travel, business or export, Cape Town and the Western Cape has something for you. Let Wesgro, the official tourism, trade and investment promotion agency for Cape Town and the Western Cape, help you uncover the opportunities.
About World Travel Market Africa
World Travel Market Africa launched in 2014 in Cape Town, South Africa. Nearly 5,000 travel industry professionals attend Africa’s leading inbound and outbound travel and tourism market. WTM Africa delivers a proven mix of hosted buyers, media, pre-scheduled appointments, on-site networking, evening functions and invited travel trade visitors. http://africa.wtm.com/ Next event: 18-20 April 2018.


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Videos by OutKick
A top Nike executive quit Monday after her son used her company credit card to purchase $132,000 in Kanye West’s limited edition sneakers.
Ann Hebert, the vice president and general manager of Nike’s North America division, resigned Monday after her 19-year-old son used her corporate credit card to buy 600 pairs of Yeezys, Bloomberg Businessweek reports.
Nike does not permit its employees to participate in sneaker reselling, according to Complex.
Daily News reports the 19-year-old, Joe Hebert, sold the shoes for more than $20,000 profit.
A Nike spokesperson told Bloomberg that Ann had disclosed information about the business to her employer in 2018 and that there was “no violation of company policy.”
But other sources in the Bloomberg report state that Joe previously used his mother’s employee discount to purchase sneakers in bulk from Nike outlet stores.
Her son denied ever receiving inside information from his mother and reportedly asked that his mother not be included in the Bloomberg story.
“Ann Hebert, VP/GM, North America geography has decided to step down from Nike, effectively immediately,” the company wrote in an email to employees. “We thank Ann for her more than 25 years with Nike and wish her well.”
7 CommentsLeave a Reply
$132,000 in sneakers, eh? What’s that turn out to be, a net profit of $125k thanks to slave labor?
This is nothing compared to the upcoming gambling scandals that will rip through sports with the greater legalization.
I’ve been saying that.
They worked the scam on company credit card? What a boner. The grift may still be working otherwise.
Here’s a thought: Take the card away from your adult son. And, if he uses it again, charge him with identity theft. He’ll learn….eventually.
Exactly. She spoiled him, and then had one last chance to teach him. But that was obviously asking too much.
Probably not the first time the scam was used
Resign? Nike should have fired her.


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NCBA president ‘encouraged’ by organization’s work toward cattle market transparency
The president of the National Cattlemen’s Beef Association says work continues to improve transparency in the cattle markets.
Jerry Bohn tells Brownfield he’s encouraged by results from the organization’s live cattle marketing working group, which is designed to improve cash and grid trade. “We’ve seen an increase in negotiated trade in Texas particularly and to a lesser extent in Kansas, while in the northern states Nebraska, Iowa and Minnesota have been traditionally stronger negotiated trade states anyways and they have maintained their volumes for the most part,” Bohn says.
In the summer of 2020, NCBA said it supported a voluntary approach to increase frequent and transparent negotiated trade to regionally sufficient levels and included triggers to evaluate volumes in each region and benchmarks for improvement.
At the Nebraska Cattlemen’s Midyear meeting last week, Bohn said the group is still working with the country’s four largest meat packers for “robust” price discovery. “I think kind of a middle of the road response,” he says. “Concern about having to tell some members or producers that they have agreements with that maybe they have to change. Concerns about it having an impact on programs that they have in place with consumers or retailers that they would have to adjust them someway to have more negotiated trade.”
Bohn says it’s a work in progress as dialogue with the processors continue but fear of government intervention dictating the terms of trade going forward could disrupt talks.


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Lucien Smith and Julia Fox star in offbeat new film, Fire Finder
The short heralds the release of 200 pairs of adidas sneakers, hand-sprayed by Smith, in support of his non-profit arts organisation Service The People
Young artists have a notoriously rough ride when it comes to breaking into the industry. From unpaid internships and the exorbitant cost that comes with further education, to the sheer number of people simultaneously trying to make it to the top, the creative landscape is notoriously difficult to navigate.
Good news, then, that initiatives like Serving The People are springing up to help illuminate the way, and provide much needed support to a new generation of artists emerging onto the scene. Founded by Lucien Smith in early 2020, the non-profit platform is a way for the artist to promote his own works, while simultaneously uplifting those trying to get their start away from the commercial bias of the often archaic art industry.
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Get in loser! Palace and Mercedes-AMG collab on a limited edition capsule
Now, as a way of raising funds to benefit his non-profit, Smith got his paints out and sprayed 200 pairs of adidas Forum sneakers using his ‘rain painting’ technique, with the results set to go on sale next week (June 10 to be precise). With no two pairs the same, the unique footwear further blurs the line between fashion and art – and whether the lucky 200 people to get their hands on a pair choose to stick their feet on them or give them pride of place on a shelf remains to be seen.
In celebration of the Forum’s launch, Smith joined forces with director Rick Rocha to create Fire Finder – a surreal short that sees the artist slip into the role of a fireman and trip his way through a series of scenes depicting dancers, skateboarders, and musicians, with Arsun Sorrenti, Tasmeen Meyer, and Uncut Gems icon Julia Fox all starring.
Check out the film below and head here on June 10 to grab your Forums.


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Think our fat cats earn a lot? Just look at motor giant Ford: their bosses took home a combined £43m last year
Investors voicing their anger at the executive pay at British firms may well want to cast an eye at the whopping perks handed out to bosses at motor giant Ford.
At its annual general meeting yesterday shareholders voiced their grievances after bosses took home a combined £43m last year – including payouts for a private jet and personal security.
Chief executive Mark Fields took home £17m in 2016, £2.3m more than what he had earned in 2016 and £224,000 of which went towards the use of a private jet.
Fatter cats: Ford bosses took home a combined £43m last year
Bill Ford Jr, executive chairman and great-grandson of Ford founder Henry Ford, was paid £10.1m, including £147,000 for a private jet and £698,000 for security.
Joe Hinrichs, executive vice president, made £5.4m as did Jim Farley, president of Europe, the Middle East and Africa. Bob Shanks, chief financial officer, made £4.6m.
The use of private jets at Ford is eye-opening because it symbolises a return to better fortunes for the firm.
In 2007, as the global financial crisis took hold, Fields was criticised for using the company private jet for taking weekend flights home to Florida from the Ford head office in Detroit.
Shareholders criticised the payouts amid a poor share price performance at company’s first ever webcast annual meeting.
Last month electric car company Tesla overtook Ford in value
One investor called the performance ‘pathetic’ and questioned how the board could continue to support Fields.
The automaker is facing sharp questions about its strategy as shares have fallen about 36 percent since Fields became chief executive on July 1, 2014.
Last month electric car company Tesla overtook the firm and General Motors to become the most valuable carmaker in America.
Fields has been pouring billions into self-driving cars and ride-sharing experiments as its traditional-car business has struggled far more than crosstown rival General Motors Co. in a slowing U.S. market.
Executive chairman Ford Jr told shareholders: ‘Look, we’re as frustrated as you are by the stock price. People have said, “Does the Ford family care about the stock price?” The short answer is yes, a lot. Most of our net worth is tied up in the company.’
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SPECIAL NOTE: President Xi Jinping of China wants to build foundational infrastructures beyond China to Eurasia, linking many countries along the way…thus building international trade to improve the lives of millions of people today. This is his way to share China’s new wealth and technological advancement with the world. Peace Passion Power, Steve USA Feb 16
Hop aboard the Belt and Road “express train”
By Liu Ning (People’s Daily Online) November 28, 2017
Three years after the first cargo train embarked on its adventure from Yiwu, China’s most famous commodities center, to Madrid, nine routes to Europe have been established for the intercontinental rail freights, which have become a carrier of Sino-European trade and communication.
Linking Zhejiang’s Yiwu, the world’s largest wholesale market for small consumer goods, with the European commodity center of Madrid, the Yiwu-Madrid freight route was launched in 2014. It has seen 264 intercontinental trips so far, carrying 21,536 twenty-foot equivalent units. As of press time, the route has covered 8 countries, including Russia, Poland and France, boosting foreign trade in east China’s export powerhouse of Zhejiang.
The booming intercontinental transportation has led to strong economic growth in Yiwu. The city’s total value of imports and exports has reached 48.88 billion yuan ($7.08 billion) in the first quarter of 2017, growing 23.72 percent year on year. Over 1.8 million kinds of commodities have been exported from Yiwu to 219 countries and regions in the world, according to Xinhua News Agency.


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Corvette Racing's C8.R has competed for just three years, but a change to professional GT3 racing as IMSA's top class has already rendered the new-for-2020 racer irrelevant. The GM factory team has been given a pass to race the GT2-spec car in the GT3-based GTD Pro class throughout 2022 and 2023, but the waiver was contingent on the company making an all-new GT3 car available to customers on its current Corvette platform. Over a year before its race debut, we now have an idea of how the car will look and sound.
The new car, set to be called Z06 GT3.R rather than keeping up the brand's naming convention with another iteration of C8.R, sure looks and sounds like a Z06 racer. While the car will be less purpose-built than its GT2-spec predecessor, it seems no less visually radical in the few still shots and one fly-by video shared by GM here.
When the car debuts in 2024, it will be joined by a growing GT3 field that will also include new cars from Ford and Toyota, with the latter likely to be built as a road car and raced as a sports car in the U.S. as a Lexus. Ford's new Mustang GT3 has already been revealed, bringing with it a factory racing team similar to GM's Corvette Racing.
As a GT3 car, the Z06 GT3.R will need to be available to customers. That is a significant departure from Corvette Racing's traditional factory-focused strategy, but the team is still expected to field two Z06 GT3.Rs in the IMSA GTD Pro category when the car debuts in 2024. As factory GT racing is coming to an end with the FIA World Endurance Championship's transition to pro-am GT racing in its support class, expect private teams to hold the Corvette banner at Le Mans in 2024.


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Every year, the Environmental Working Group (EWG) releases its Dirty Dozen list—a breakdown of the produce items with the highest amount of pesticide residues in the United States. This list is derived from reports released by the US Department of Agriculture (USDA) Pesticide Data Program and serves as a counterpoint to the Clean Fifteen, which accounts for the produce items with the lowest levels of contamination.
The 2019 Dirty Dozen list made headlines due to the surprising inclusion of kale. Found in the third position, the popular leafy green hasn’t been on the list since 2009. First and second on the Dirty Dozen were strawberries and spinach, respectively, frequent offenders on the list.
According to the testing done by the USDA, more than 92 percent of kale samples from conventional growers, as opposed to organic farms, had at least two residues from pesticides. Some samples had up to 18 different pesticides present. What raised a number of red flags among USDA officials and consumers alike was that about 60 percent of the kale samples contained traces of DCPA, also known as Dacthal. The Environmental Protection Agency (EPA) has classified this contaminant as a possible human carcinogen, and the European Union has prohibited its use on European crops since 2009. EWG actually launched its own investigation of DCPA and found residues on a significant number of samples taken from local grocery stores.
Notably, kale has not been tested by the USDA in recent years despite its growing popularity, which perhaps explains why it has been missing from the Dirty Dozen for so long. When it made the list in 2009, it landed on the eighth spot. During the interim, perhaps because of the increased production of the green, contamination has worsened. However, it is important to recognize that this does not mean that consumers should avoid kale together. Instead, according to EWG, this finding mostly means that people should consider purchasing organically grown over conventionally grown kale.
Overall, the problem of pesticide contamination seems to be improving. According to federal standards, more than 99 percent of the produce sampled had acceptable levels of pesticide residues. However, EWG continues to contend that these federal standards need to be updated, especially since nearly 70 percent of all conventionally grown produce sold in the United States contain residues from at least one pesticide. This is particularly worrisome for the most vulnerable members of the population, such as children. The American Academy of Pediatrics Council on Environmental Health warns that exposure to pesticides in utero or in early childhood can increase the risk of leukemia, brain tumors, and neurological defects.
However, a representative from the International Food Information Council Foundation notes that the pesticide residues found on produce are present in such small amounts that they are not harmful. Knowing this, it is still important to acknowledge that the effects of combining different types of pesticide residues are not well understood and could prove more problematic than we realize. Concerned parents can reduce their risk by purchasing foods on the Dirty Dozen in their organic forms.
While there is still debate about the ramifications of pesticide residues, medical professionals tend to agree that it is better to eat fresh fruits and vegetables as much as possible, whether they are organic or not. In other words, the benefits of fresh produce outweigh the possible risks posed by pesticides. Whenever possible, consumers should eat organic versions of foods on the Dirty Dozen list.
Not everyone can afford or find organic options, at which point conventionally grown is the next best option. As long as it’s washed thoroughly with water (which should be adequate enough to remove pesticide residues, or at least reduce them to an acceptable rate), consumers will still enjoy the same nutrients as the organic version. This is especially true for foods like kale, which has an incredible array of vitamins, fiber, antioxidants, and minerals. However, variety is also important, so sticking to kale alone is also not recommended. Food professionals recommend purchasing items on the Dirty Dozen from trusted local farmers. This strategy is the best way to ensure that the food does not contain any harmful elements and is second only to growing food yourself. Kale is a great candidate for growing at home since it can thrive in a small space and keeps regenerating once leaves are harvested.


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Small businesses are missing out on an opportunity to sell their goods and services on an international level. Small businesses in the U.S. may be leaving money on the table by failing to offer products and services internationally, said a survey conducted by Exact, a business software company. According to Exact, only one in three small business owners surveyed are offering their services and products internationally.
“‘Made in the USA’ doesn’t have to mean just selling in the USA – for some that significantly limits opportunity for growth,” said Steve Leavitt, GM of U.S. Cloud Solutions for Exact. “For many small businesses, the idea of conducting business internationally is simply too daunting. It doesn’t need to be that hard, however. The gateway to successful small business expansion across borders is closer than most think.”
According to the survey, 66 percent of small businesses don’t offer services or products internationally. This number doesn’t square with the fact that “revenue growth” (75 percent) and “attracting new customers” (64 percent) are the top two priorities for those same small businesses – priorities many companies could address by tapping international markets.
“Not every small business has an opportunity to achieve success internationally, but it’s likely that many viable candidates are leaving money on the table,” added Leavitt. “With the ability to expand globally using business technology in the cloud and by leveraging partners, we expect to see more businesses test the waters in the coming years.”
Exact polled more than 300 U.S. small businesses in March 2014. The survey included questions related to business planning and priorities.
Exact Online is a product of Exact, a global company with 30 years of experience in manufacturing and wholesale software, serving 100,000 customers worldwide and 10,000 in the U.S. Small business manufacturers and wholesale distributors in the U.S. can access a free trial of Exact Online software at http://www.exactonline.com/pricing/trial.
Since 1984, Exact has been serving SMBs with information technology to launch and grow their businesses. As a global solution provider with more than 1,800 employees worldwide, Exact helps 100,000 local and international companies run their business every day. Exact is headquartered in Delft, the Netherlands and has been listed on the NYSE Euronext Amsterdam since June 1999. The company’s revenues in 2013 amounted to €213 million. In the U.S., Exact’s business unit, Cloud Solutions, is headquartered in Newton, MA.
Exact Online offers the advantage of flexible cloud delivery to enable customers to quickly and cost-effectively streamline time-consuming tasks such as logistics, CRM, production and inventory management, so business owners can focus on growing their businesses. The platform, available via affordable monthly subscription, integrates seamlessly with QuickBooks.


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Indian billionaire Mukesh Ambani today (Aug. 29) showcased his business empire’s future leadership.
The 65-year-old told the 45th Reliance Industries (RIL) annual general meet (AGM) that his three children were “confidently taking over the reins.”
“Akash and Isha have assumed leadership roles in Jio and Retail, respectively. Anant has also joined our new energy business with great zeal,” the chairman of the $217 billion Reliance Industries (RIL) said.
His comments come amid talk of a succession plan in one of Asia’s richest families.
RIL’s investors have for long been eager to hear of such a plan apparently. The company’s ugly succession history is what keeps them seemingly wary.
Today, however, Ambani strongly hinted that his children will ultimately helm his conglomerate’s various units. RIL was founded by Ambani’s father Dhirubhai Ambani decades ago with a mere $13.
In June, Ambani resigned from the board of Jio, RIL’s telecom arm, handing over its responsibility to his elder son Akash Ambani. Similar transfers of responsibility also saw Isha Ambani and Anant Ambani taking over prominent positions in the empire.
Isha Ambani has a similar role at Reliance Retail Ventures.
Today, Ambani introduced her as the “leader” of Reliance’s retail business. Alongside, he announced RIL’s FMCG sector plans for this year.
Assuring investors of his children’s abilities, Ambani said he had been regularly mentoring them.
“All three have fully inherited our founder’s mindset. They are first among equals in a young team of leaders and professionals who are already doing amazing things at Reliance,” he said. “Of course, all of them are being mentored on a daily basis by our senior leaders, including myself and the Board of directors.”
Mukesh Ambani made other announcements, too, during his 1.5-hour speech.
Jio’s 5G rollout, he said, would happen over the two months in Delhi, Mumbai, Chennai, and Kolkata.
“Within the next two months, by Diwali, we will launch Jio 5G across multiple key cities, including the metropolises of Delhi, Mumbai, Kolkata, and Chennai. Subsequently, we plan to increase the Jio 5G footprint month after month,” he said. The rest of the country will get 5G by December 2023, he added.
Reliance, he said, will invest Rs75,000 crore in the oil-to-chemical business over five years.
The RIL share settled in the red, 0.72% lower than the previous day’s close, at Rs2,600 apiece on BSE.


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Out-Law News 3 min. read
22 May 2014, 4:14 pm
Data protection law specialist Kathryn Wynn of Pinsent Masons, the law firm behind Out-Law.com, said that criminals may be able to impersonate sellers on eBay and conduct fake transactions following the attack. EBay may be exposed to compensation claims from victims of ID theft where those individuals are forced to refund buyers for goods they paid for but did not receive from the bogus sellers, she said.
Wynn was commenting after eBay announced that a database containing users' information had been compromised during a hacking attack earlier this year. The company said that the names, encrypted passwords, email addresses, postal addresses, phone numbers and dates of birth of its customers had been compromised in the attack.
The hackers had managed to access the database after hacking into some eBay employee's accounts and accessing the company's corporate network, it said. The attack took place between late February and early March. The company has said that its tests to date have shown that there has been "no unauthorised activity for eBay users, and no evidence of any unauthorised access to financial or credit card information, which is stored separately in encrypted formats". However, it advised its users to change their passwords for the site.
"The cyber attack on eBay poses risks of ID theft against its users," Wynn said. "If criminals have access to the compromised data they may be able to use existing accounts to carry out fake transactions, pocketing the money they receive with no intention of sending any goods to the buyer. Users may find that they are forced into refunding buyers as a result of the fraud perpetuated using their account details. In those circumstances, eBay may find itself subject to claims for compensation from UK users under the Data Protection Act."
Under section 13 of the Data Protection Act (DPA) a person is generally entitled to compensation if they suffer damage as a result of violations of a section of the Act by organisations that hold their personal data. Individuals are also generally entitled to compensation from those data controllers if they suffer distress that causes damage.
Organisations do have a defence to this right to compensation if they can "prove that [they] had taken such care as in all the circumstances was reasonably required to comply with the requirement [that it is alleged to have breached]."
Wynn said that eBay would be able to defend itself against compensation claims from UK users if it could show that, despite falling victim to a cyber attack, the data security measures it had put in place were appropriate.
"The important question that any court would consider is whether a company experiencing a data breach had done enough to prevent that attack," Wynn said. "Factors such as whether the attack was a sophisticated one or whether it resulted because of an inherent, obvious vulnerability in either the technical or organisational measures the business put in place to protect against unauthorised accessing of personal data will be important in this context."
The Information Commissioner's Office (ICO) recently issued IT security guidance which sets out the measures organisations can deploy to secure the personal data they are responsible for. It highlighted the importance of 'salting' and 'hashing' passwords organisations store to make it harder for hackers to decrypt in the event that data is compromised.
"The Data Protection Act requires that organisations put in place 'appropriate' technical and organisational data security measures," Wynn said. "What's 'appropriate' for a large multinational will differ from the measures smaller companies will need to deploy. In issuing Sony with a fine of £250,000 over a major data breach the company experienced following a cyber attack on its PlayStation Network, the ICO has shown that it is willing to take action against major organisations it perceives to have fallen below the standards required for data security."
Wynn also said there are wider consequences of data breaches that businesses, and consumers, can help protect against.
"Most of the focus of cyber attacks is in obtaining financial information, such as payment card data, so as to carry out fraud," Wynn said. "However, because many consumers use the same password across different services there is a risk that a stolen password from one database can be used to access individuals' accounts elsewhere. With the increase in many public services going digital, even more sensitive information - health data - is at risk of being exposed."
"Hackers able to access piece together health data with other information they have compromised may be able to carry out more nuanced, less detectable, criminal activity than merely payment card fraud. For example, they may be able to build up a sufficient profile of an individual to be able to complete a fraudulent life assurance application. It should be incumbent on organisations to issue a warning about the use of the same password across different accounts when users come to register with them to help protect against this possibility, particularly in light of the increasing number of data breach incidents," she said.


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Tuesday morning, Stuart Jeffrey, an analyst with Japanese brokerage house Nomura, reiterated his neutral rating target for the stock while lowering his target price to $530
. The analyst's concern is that Apple iPhone gross margins have peaked at the current 55% and could drop to 40% which is the historical peak for mobile handset manufacturers. Jeffrey sliced his earnings forecast for Apple to $45.54 a share in fiscal year 2013, down from his older estimate of $51.68 a share. For the 2014 fiscal year, the analyst sees Apple scoring a profit of $49.69 a share, down from his original estimate of $55.58 a share. Jeffrey sees Apple reporting a down year in 2015 with profits of $48.99 a share, down from an earlier $54.90 a share forecast and off from 2014's expectations.
Jeffrey is concerned about profit margins for the Apple iPhone
The analyst says there isn't much Apple can do to turn things around in the short term and that even the introduction of an Apple iPhone 5S and a Apple iPad mini with a Retina display would not add much to demand. He does add that the downside risks are limited by Apple's low P/E ratio, or the possibility of a dividend increase. Some factors that could potentially boost the stock like a new Apple iPhone release or a refresh of iOS
, won't happen until the second half of the year. The release of a low-priced Apple iPhone
would only serve to lower margins which would be a negative for the stock. Jeffrey calls the release of OS7 critical but added that management changes at the company might limit any new features of the OS build.
"Launch of iPhone 5S or iPad mini with Retina display could be positive but seems unlikely to materially boost demand. iOS7 launch may prove more critical (likely due in June), but recent management changes may limit extent of enhancements."-Stuart Jeffrey, Nomura Securities
Apple is currently trading at $490, down $10 on the day.


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Remodeling activity hits new high in August
The number of residential remodeling projects hit a new benchmark in August, registering 3,204,000 on a seasonally adjusted basis, the highest since April 2008, according to an index compiled by BuildFax, a national database of building permit data. On a monthly basis, residential remodels rose 3% in August 2012 compared with the previous month. Year over year, August 2012 showed a 5% growth rate, measured on a seasonal basis, compared with August 2011.
Annual rates of remodeling authorized by building permits across the country in July 2012 were estimated as follows: Northeast, 895,000 (down 4% from July and up 20% from August 2011); South, 1,302,000 (down 3% from July and up 21% from August 2011); Midwest, 588,000 (up 5% from June and down 7% from August 2011); and West, 832,000 (up 3% from July and down 4% from August 2011).
Co-headquartered in Austin, Texas, and Asheville, N.C., BuildFax, a division of BUILDERadius, maintains a national database of historical building permit data. It also operates a proprietary property intelligence engine that contains building and permitting information from more than 4,000 cities and counties throughout the country.
Boise Cascade releases preliminary results
In an Oct. 15 filing with the Securities and Exchange Commission (SEC), Boise Cascade Holdings posted an estimate of the results for its third fiscal quarter, which ended Sept. 30, 2012.
Segment sales in the building materials distribution division were between $595 million and $615 million, with wood products accounting for another $255 million to $265 million. Net income was reported at $21.5 million to $25.1 million.
The Boise, Idaho-based company also announced the commencement of a senior unsecured note offering of up to $250 million. The company said it intends to use the proceeds to fund the redemption of all of its outstanding senior subordinated notes. The remaining proceeds from the senior notes, which are due 2020, will be available for general corporate purposes.
Boise Cascade is a privately held company that distributes and/or manufactures a number of building materials, including engineered wood products, plywood, lumber and roofing materials.
USG Corp. partners with GE Lighting
Two of the building industry’s largest manufacturers are collaborating on a new ceiling system designed for use in commercial applications. USG Corp. will offer its Logix Integrated Ceiling System with GE Lumination’s LED Linear Recessed Luminaires. The system is ideal for office, retail, healthcare and hospitality environments, the two companies said.
“The collaboration between USG and GE addresses the need of the architectural and design community for more monolithic, high-performance ceiling design options,” said Chris Griffin, USG executive VP operations. “We’re proud to offer a ceiling system that can be designed with greater flexibility in the configurations, performance specifications, and aesthetic and size options of panels and grid, while also incorporating lighting and mechanical systems for a more customized and monolithic ceiling.”
GE’s Lumination LED Linear fixtures will offer significantly better lighting performance over fluorescents, requiring less energy and lasting for years without the need for replacement, according to the announcement.
“The breakthrough of our integrated ceiling and lighting system offers uninterrupted channels of lighting and acoustical panels for a desired design aesthetic without compromising performance,” said Jaime Irick, general manager, GE Lighting North America Professional Solutions.


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New year = new issues for the industry
Rebecca Evans looks at challenges facing the trade in the coming year
Prime Minister Gordon Brown has recently softened his tone on 24-hour drinking, backpedalling on previous hints that the Licensing Act was to be reviewed, according to national newspaper reports. Don't be fooled into thinking that the government has lightened up, though. The coming year is likely to be one of the toughest yet for the drinks trade, with everything from alcohol pricing and promotion to health costs and drinks labelling under the state's spotlight - and the threat of further legislation not far behind.
Once the trade has got past March's Budget - which could see a major rise in drinks duty, according to top trade figures - it will then have the government's initial thoughts on alcohol pricing and promotion, due to be released in April, to look forward to.
The discounting of alcohol - particularly in major multiples - dominated headlines throughout 2007, especially
as it formed a major part of the Competition Commission's investigation into the grocery market. In its provisional report, published in October, the CC said it believes supermarkets' practices, which include below-cost selling, offer consumers good value for money.
So the Big Four supermarkets - Asda, Sainsbury's, Tesco and Morrisons - go into the New Year in a buoyant mood, and it is hard to see what more the government can do on pricing, particularly with competition law in mind. It cannot set minimum pricing.
Tesco's head of BWS, Dan Jago, says December's drinks industry meeting convened by Gordon Brown "created a very strong forum and a good agenda to be carried forward. The agenda is being embraced by the drinks industry in a very mature fashion".
The broad consensus is that "the misuse of alcohol is not a retail issue, it's a broad social issue, and all parties need to be involved", Jago adds.
Independent retailers - particularly those who think of supermarkets as direct competition - are likely to welcome further investigation into supermarket pricing . Jim Helsby, owner of independent drinks shop York Beer & Wine, says: "Whatever supermarkets say, selling stuff below cost does not fall into what I would regard as responsible retailing."
Also in April, the government will roll out national ad campaigns through charity Drinkaware to try to "challenge public perceptions of drunkenness and harmful drinking", according to its alcohol strategy document, Safe . Sensible . Social.
Campaigning for change
An educational campaign on alcohol units will follow and young people will be targeted through a social marketing campaign. Local partnerships and communities will also be supported in reducing alcohol-related disorder through separate funding.
Alcohol-related harm was high on the government's agenda in 2007 - and pushed further into the headlines by a strengthened lobbying group, the Alcohol Health Alliance, which is calling for tighter controls on alcohol consumption - and will surface again in September, when results of a state review into the costs to the NHS will be published.
Also in September the government will instigate a review of the Social Responsibility Standards - a good practice document put together by industry bodies, originally published in 2005.
Drinks labelling will be the focus of another review in November, and the government says it will look at whether more legislation is needed. David Poley, chief executive of alcohol industry-funded watchdog the Portman Group, says: "The industry is already doing much of what the government is asking for, but the government wants to go further." In particular, ministers would like to see every producer include advice on daily alcohol intake, plus advice for pregnant women.
Progress across the board
The government's push has split opinion in the industry, Poley says. "There are some companies that are happy to do that, but there are others who have got reservations about it, particularly as there seems to be a discrepancy between the
officer and NICE over what advice to give pregnant women."
Tesco's Jago says: "There's been an enormous amount of progress on this. We've embraced the DoH recommendations with back -of -pack guidelines. Tesco was first to put units and recommended daily allowances on products, and we continue to lead on responsible retailing of alcohol."
Some industry figures are concerned at the way things are going, though. Nigel McNally, managing director at brewer Wells and Young's, says: "My personal view is that we're going too far on some of these things and this is more of the nanny state.
"People are more aware of the issues associated with alcohol, and everybody is saying drink in moderation. Again, my personal view is that there is enough labelling already in existence. Pretty much all the manufacturers, brewers and alcohol producers have put details about drinking sensibly on their products."
the government will look at how thoroughly producers have implemented its guidelines on labelling - including pregnancy advice and daily unit information - and may order a review, depending on its findings.
The threat of further legislation is real, Poley believes : "Certainly, the government is making out that if there's not sufficiently wide implementation of its preferred labelling scheme then it will consult on legislation."
All of the group's members - which include drinks giants such as Diageo and Scottish & Newcastle - are unit labelling their drinks so consumers know exactly how much alcohol they are drinking.
While the outcome of the various government reviews can only be speculated on, the recent change of tone from Number 10 on the Licensing Act could be a sign of a more practical, evidence-based approach to alcohol issues, according to the Wine & Spirit Trade Association.
Chief executive Jeremy Beadles says: "If current indications are to be believed, Gordon Brown may decide not to launch a complete overhaul of the new Licensing Regime. If this is correct, it may signal a slightly more pragmatic and encouraging attitude in government that will worry less about responding to headlines and more about ensuring policies are based on facts." A hope to hold on to throughout 2008.


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A bipartisan group of congress members has introduced a bill that would require that 80 percent of all new automobile and light trucks sold or manufactured in the U.S. be capable of running on either E85, M85 (a methanol-gasoline blend of 85 percent) or biodiesel.
The measure, H.R. 1476, would require half of the new cars and light trucks sold or built here in 2012 to be E85 or M85 flex-fuel capable, ratcheting up to 80 percent three years later. The bill is sponsored by Rep. Eliot Engel [D-NY], Rep. Roscoe Bartlett [R-MD], Rep. Steve Israel [D-NY], and Rep. Bob Inglis [R-SC].
Ford, GM and Chrysler all have said they do not need a mandate. The groups promise to produce half their lines as flexible fuel by the year 2012 should there be fueling infrastructure to support the vehicles. There are currently less than 2,000 E85 fueling locations for more than 7 million E85 vehicles now on American roads.


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National guardsmen and state price adjusters fanned out across Venezuela Wednesday to impose a military-style occupation with an unusual goal: Making sure shoppers can buy enough sugar. The South American country’s socialist administration temporarily took over the Dia a Dia supermarket chain as part of a crackdown on the private businesses it blames for worsening shortages and long lines. Embattled President Nicolas Maduro says right-wing owners are purposely making shopping a nightmare by hoarding goods and removing checkout stations. He has promised to jail any business owner found to be fomenting economic chaos.
Two executives of Venezuela’s largest drugstore chain, Farmatodo, were detained over the weekend as part of an investigation by price-control authorities. On Monday night, Congress President Diosdado Cabello said officials had arrested Dia a Dia’s owner and taken over its 35 stores “for the protection of Venezuelans.” By Tuesday morning, armed soldiers were overseeing lines for bags of sugar at a Dia a Dia location near the presidential palace. Many economists blame price and currency controls for causing the economic distortions plaguing the country at a time when falling oil prices are battering its revenues. Analysts see this week’s moves against business owners as an attempt to drive home Maduro’s counter-narrative that the right-wing is waging an economic war.
“The government is starting to prepare for a social explosion,” said Diego Moya-Ocampos, an analyst with the London-based consulting firm IHS Global Insight. “They’re trying to channel all the social discontent against the private sector.” Many Venezuelans agree with Maduro. Even Dia a Dia branch manager Carlos Barrios said it was possible that his bosses were hoarding. He’d seen the photos government workers had posted outside his store of pallets of sugar, corn flour and toilet paper apparently sitting at the chain’s central warehouse. The administration has a history of temporarily taking control of private enterprises. Just ahead of a key 2013 election, Maduro ordered electronics stores to begin selling goods at give-away prices. But this latest crackdown may reverberate more widely among the business class, because it has added the threat of imprisonment to the always present possibility of expropriation, Moya-Ocampos said. More


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Women's Health on World Fashion Channel
Women’s Health magazine editor-in-chief Maria Troitskaya took part in the World Fashion Channel program “Fashion Fit.” The show featured singer Alexei Vorobyov, who spoke about his daily workout routine.
Troitskaya served as an expert consultant and developed a workout routine with Vorobyov. She also shared information about the anniversary issue of Women’s Health magazine released in November.
The program will air on the World Fashion Channel on November 20.


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B2B Companies Rely on Digital Content Creation Due to COVID-19 Scare
Digital content creation has become a hot topic in the light of the COVID-19 (Coronavirus) pandemic. The viral outbreak has given many B2B marketers the opportunity to construct online marketing strategies. However, several companies in the digital content creation market have lost billions of dollars due to event cancellations and postponements of trade fairs. In a study conducted by the Center for Exhibition Industry Research, strategists in the digital content creation market pour millions of dollars to conduct exhibitions and industry shows, which is almost five times more than that is invested in online marketing. With growing awareness about the advantages of digital marketing, B2B companies are now turning toward online marketing to redefine their marketing messages, as numerous strategists are spending most of their time in home isolation due to the COVID-19 outbreak.
Since the end results of digital marketing are easily measurable, B2B companies are increasingly relying on online marketing strategies to capitalize on the flooding online traffic to gain greater visibility with individuals.
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Tech Giants Deploy Cloud to Accelerate Innovation in Media & Entertainment Industry
Cloud is being democratized for companies and individuals in the digital content creation market, thus enabling everyone to participate in the digital economy. Cloud has become capable of handling the media & entertainment industry workloads, as creators find it easier to convey stories more collaboratively. Correspondingly, the revenue of both cloud and the media & entertainment industry is anticipated for exponential growth in the digital content creation market, where the market is expected to expand at an explosive CAGR of 17% during the forecast period.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Executive Vice President Judson Althoff of the multinational technology company Microsoft revealed that the company is collaborating with The Walt Disney Studios in order to pilot new ways of using the Microsoft Azure cloud platform to innovate in production processes. Thus, cloud is revolutionizing the media & entertainment industry in the digital content creation market by accelerating innovation in production and postproduction processes i.e. from the scene to the screen. India being one of the leading economies in the media & entertainment industry is grabbing the attention of global tech giants to deploy uninterrupted online streaming in the market for digital content creation.
Get More Press Releases by TMR:prnewswire.com/news-releases/plastic-corrugated-packaging-market-expands-scope-of-businesses-in-ecommerce-industry-to-deliver-sustainable-packaging-solutions-tmr-301200091.htmll
How is Digital Embracing In-store Experience?
Many traditional retailers are heading toward bankruptcy and closing off stores, as they are not a part of the digital content creation bandwagon. Since retail buying habits have undergone a change during the previous years, retailers are integrating digital marketing strategies with in-store experiences. This explains why the market share of the retail industry is anticipated to take a leap from ~21% in 2019 to ~26% by 2027 in the market for digital content creation.
Software developers in the digital content creation market are increasing their R&D activities to enhance in-store experiences for customers. For instance, the Amazon Go™ stores have set the benchmark for innovating in their interactive digital platform, which is popular for its ‘grab & go’ format. Thus, leading retailers in the digital content creation market are floating engaging marketing strategies to encourage repeat purchases among customers.
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Performax recalls Chevrolet Silverado, GMC Sierra for airbag fix
Local conversion firm Performax has issued a recall for its 2014 to 2017 model-year Chevrolet Silverado 2500, 3500 and GMC Sierra 2500 trucks over concerns a faulty module may fail to deploy the frontal airbags in a collision.
According to the company, the affected vehicles are fitted with a sensing and diagnostic module (SDM) that may have defective software.
If the condition occurs, this could prevent the deployment of the front airbags and seatbelt pretensioners in an accident.
Above: Chevrolet Silverado 2500
Performax says the fault poses an increased risk of injury to occupants of the vehicle in the event of a crash.
Owners of the affected models are encouraged to present their vehicle to their local dealer or contact Performax International directly to arrange repairs.
Above and Top: GMC Sierra
The SDM will be reprogrammed with new software that eliminates the defect, while vehicles with any previous deployment events recorded in the SDM will have the unit replaced entirely.
For more information, contact 1800 737 367 or (07) 3085 0110.


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from the know-when-to-fold-'em dept.
whoever57 writes "The man who claimed ownership of 50% of Facebook has been arrested and charged with fraud in connection with his claims. The United States attorney in Manhattan said, 'Ceglia's alleged conduct not only constitutes a massive fraud attempt, but also an attempted corruption of our legal system through the manufacture of false evidence.' 'Dressing up a fraud as a lawsuit does not immunize you from prosecution.'"
The UNIX philosophy basically involves giving you enough rope to
hang yourself. And then a couple of feet more, just to be sure.


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On top of a 25.0% decline in sales numbers this week to land at three homes sold over the last 30 days, the New Territory market still shows a recent trend downward overall. Potential buyers should note that prices are coming down in New Territory, and for this period the median sales price slid from $224,500 to $224,000. New Territory is a solid buyer's market, due to a downward trend in sales numbers and 16 months of inventory remaining.
Trying to find an affordable a home? Take a look at these low-priced listings in New Territory:


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QlikTech, the world’s fastest-growing Business Intelligence (BI) software company, scored exceptionally well in the newly released BI Survey 8 – the world’s largest independent survey of Business Intelligence and Performance Management users conducted by the Business Application Research Center. The company ranked first in ease of use and customer loyalty, outperforming industry leaders SAP (Business Objects), Oracle (Hyperion) and IBM (Cognos).
The survey showed that overall, QlikTech customers were the most loyal. Customer loyalty is one of the most coveted categories among vendors, according to Nigel Pendse, author of the survey, “because maintenance revenue and sales of additional licenses to existing customers are much more profitable than winning business from new customers. Consequently, most vendors work hard to achieve it.”
Article sourced from www.qlikview.com, click here to read full story.
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Avvashya CCI’s cutting-edge fulfilment solutions offer India’s e-commerce companies speed, accuracy and scalability, to handle high volumes, effortlessly. Its expertise offers deep insights into the business operations of customers and the need to ramp up operations during peak seasons, while accounting for NIL or NO deviations during day-to-day operations to ensure that timelines are met.
During India’s festive season, e-commerce companies expect sales to cross USD 7 billion, estimates RedSeer, a provider of data on this sector. This, the agency says, is a 60% increase over last year’s sales season, as customers have splurged, driven by huge discounts online. With unmissable deals on offer, millions of consumers flock to these portals to buy everything from shirts to sofas online.
Over 75 million transactions are forecast for this period, compared to 45 million last year. However, behind the scenes it is well-oiled logistics that keeps these sales humming, ensuring companies can sort their massive inventories out quickly, customers get their deliveries—and can make returns—seamlessly and there are no speed bumps in the red-hot growth of a USD 200 billion industry.
Avvashya CCI gives India’s leading e-commerce companies this logistics edge. Powered by a network of warehouses across 20 locations in India, measuring 4.5 million square feet, this logistics leader can handle an inventory of more than a million units per month per warehouse.
The company’s cutting-edge fulfilment solutions offer India’s e-commerce giants speed, accuracy and scalability, to handle high volumes, effortlessly. The expertise developed over numerous successful projects has given Avvashya CCI deep insights into the operations of customers and the need to ramp-up operations during peak seasons such as Diwali and Christmas, while accounting for NIL or NO deviations during day-to-day operations to ensure that timelines are met.
“We are committed to providing India’s leading e-commerce companies with end-to-end logistics to support their fast-growing businesses. Our robust solutions offer speed, scalability, and agility that are integral to successfully managing demand for these businesses. We look forward to expanding our engagement with this sector and are future-proofing our capabilities to keep pace with the industry’s requirements,” said Mr. Anoop Chauhan, Chief Operating Officer – Supply Chain, Avvashya CCI.
In e-commerce, for example, demand is dynamic. Typically, two-thirds of business happens in two or three months of the year and Avvashya CCI’s supply chain solutions ensure that customers are fully prepared to deal with this ebb and flow in the market.
Their Warehouse Management System (WMS) can handle the entire process flow, from receiving an order for dispatch of shipment, packaging, invoicing, coordination with couriers, and even reverse logistics (when items are returned).
Systems have been built to address specific challenges of this sector. Cost-efficient, semi-automated warehousing solutions, WMS applications and ‘Put to Light’ and ‘Pick to Light’ operating models help create a complete e-commerce logistics solution that ensures customers’ business needs are met.
Avvashya CCI also provides software support to ensure seamless integration between vendors and retailers. They are adept at conducting both inbound as well as outbound quality checks for the material. Reverse logistics aspects such as return-to-inventory (RTI), return-to-vendor (RTV), and return-to-origin (RTO) can be handled too.
Multiple e-commerce retailers benefit from the advantage of highly-trained manpower who can deftly manage the latest stock management equipment such as Sorters & Conveyer system to handle the heavy loads of volume turnaround. Based on the number of orders expected by a client, Avvashya CCI designs, develops, invests in and deploys the infrastructure and resources required to manage the warehouse.
On the ground, the company is also capable of quickly expanding its bandwidth to keep pace with the burgeoning demands of the e-commerce industry, in the sale season. Consider the surge in the number of items for dispatch: from 6,000 on a regular day to over 16,500 daily during the festive season. That’s essentially 10 items being picked, packed and an address printed every minute!
During this period, there’s little time to be wasted; rather than seven trucks arriving at the warehouse, 11 must be loaded and unloaded. Goods worth nearly INR 200 million pass through the warehouses on sale days.
That’s It takes an expert to streamline and efficiently manage the show. And Avvashya CCI is an ideal partner to seamlessly manage both the complexity and pace of e-commerce logistics. It has enough bandwidth to increase capacity of not just warehouses, but also people working in them.
Long days for short(er) delivery times
Typically, the team works around 16 hours at the site, for about 20 days to manage this massive spike in orders. Avvashya CCI is also capable of quickly doubling headcount by roping in people from other sites to manage this explosion in throughput.
It isn’t just a question of numbers alone. Significant investments in training its people to keep pace with the demands of the e-commerce industry are key to its success.
The company has a dynamic performance monitoring system and digital training capabilities to enhance the skills of its team, even using software to conduct a time and motion study to enhance productivity. Productivity metrics have improved by 40% to 45% and Avvashya CCI is pushing to do even more.
In a market where time is literally money, Avvashya CCI helps its e-commerce customers to quickly add more capacity to keep the business operating smoothly.
Leading by example
Consider how Avvashya CCI recently built out a fully functional warehouse for a leading e-retailer in just a month. With sale season around the corner, it was vital for this industry leader to have a facility on-stream in Kolkata to enhance its delivery capabilities to the region.
And Avvashya CCI adeptly stepped up to the challenge, setting up an 86,000 square feet completely Wi-Fi enabled unit. The warehouse caters to every aspect of the global e-retailer’s requirements including skilled manpower to sophisticated machinery for handling the goods.
What’s more, Avvashya CCI isn’t content with keeping its logistics network current—it is already future-proofing its capabilities. A new and improved WMS will go beyond the current benchmarks of warehousing in India to integrate with order management software at one end and customer deliveries at the other end. The new software will have capabilities such as root optimisation, network optimisation, and density mapping with rooting logic.
The future is here
Already, the company is thinking of what is to come. On the technology front, it will soon adopt new tools that will provide predictive analysis of the business to forecast what kind of inventory is required during a period. Automated or robotised packing is on the cards too.
For the e-commerce industry, logistics is all about timeliness, scalability and agility. With its tech tools, team and warehouse backbone, Avvashya CCI is ideally placed to meet this industry’s needs.


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Asia Charging Expo to open next week
Writer: Liu Minxia | Editor: Liu Minxia | From: | Updated: 2023-08-16
Hundreds of companies will bring their latest products and technologies to the Asia Charging Expo 2023, which is scheduled to open at the Shenzhen Convention and Exhibition Center on Wednesday.
The three-day fair will coincide with the 2023 Asia Energy Storage Conference, which will take place Aug. 25. More than 10 well-known industry executives will give presentations and share reports during the conference.
The Asia Charging Expo is one of the most influential power electronics shows that connect worldwide leading companies and professional visitors in the power industry. More than 200 leading semiconductor companies as well as more than 2,000 industry professionals in R&D, system integration, procurement, and sales and marketing participated in the spring edition of the fair earlier this year.
The newest developments in fast and wireless charging for consumer electronics, power management ICs, power electronics, passive components, and other new energy applications such as portable power supplies, server PSUs, and EVs are expected to be showcased at the exhibition.


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Ivanhoe Cambridge Inc. is in the works of details for a major expansion of Vancouver’s Oakridge Mall. Plans include transforming the 56-year-old shopping centre into more of a community, and using all of it’s 11.5 hectare site to help achieve that.
So far, it seems that a broad range of housing which varies from luxury, to affordable, alongside more retail space, office space, parks, bikeways, walking paths and a library are just some of the new additions which are in hopes to be added to the Oakridge site. According to Senior Development Director Gordon Wylie, most of the work will be done on the mall’s enormous parking lots. In addition, a new underground parking system will replace the current underground parkade.
Vancouver city hall staff recommend that Ivanhoe Cambridge Inc. ask the opinions of the public before preceding. Residents have concerns, especially when it comes to the word “affordable” being mentioned as a part of their housing campaign, as many are left unclear as to what exactly affordable is these days.
There also are concerns involving the Canada Line, which has a convenient stop right outside of Oakridge Centre. The concern is, will the Canada Line be able to support the new population, if residencies were to be put on Oakridge land, as the Canada Line itself is running close to capacity already. Other major shopping malls, such as Richmond Centre have apartments which reside on the mall’s property, which hasn’t appeared to have many issues.
What are your thoughts on the expansion, and on the new housing ideas?


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Jacksonville man is first to cash in $1 million prize in new 200X the Cash scratch-off
A 34-year-old Jacksonville man collected the first $1 million prize from the new 200X the Cash scratch-off game, the Florida Lottery announced Thursday.
Yunzhen Ni chose to receive his winnings as a one-time, lump-sum payment of $890,000, the Lottery said. He bought the $20 ticket from Shell station at 11330 Beach Blvd.
The 200X the Cash game launched last month and features 20 top prizes of $1 million.


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DUBAI // Dubai officials are warning that portable test kits claiming to check quality of produce, fish and meat are unreilable.
The Green Test Eco devices sold online have become popular because of claims they detect chemical fertilisers and pesticides used in production of fruits and vegetables.
However, Amin Mohammed, director of Dubai Central Laboratory, said the equipment does not provide correct results.
“Such tests should be carried out by laboratory specialists using certified equipment that gives accurate results,” he said.
The use of the products has become popular because of videos posted on social media.
Municipality experts compared tests using the devices with tests using their own equipment, and found significant differences in findings. The results were confirmed by an international agency.
The device is meant to be used to detect nitrogen fertilisers used to grow produce, rather than pesticides, Mr Mohammed said.
Iman Al Bastaki, director of the municipality’s food safety department, urged the public to ignore claims made about the device’s effectiveness.
“The competent laboratories of the ministry and the regulatory bodies examine more than 400 insecticides,” said Ms Al Bastaki.
“The country is also linked to regional and global early warning systems – through the Ministry of Climate Change and Environment – through which any food that may pose a risk to consumers is reported.”
Regulatory bodies in the UAE coordinate through the ministry, she said. Dubai receives more than 10 million tonnes of food per year from about 200 countries.
“All these foods are subject to a strict regulatory system based on 24 hours through inspectors, the unknown soldiers,” she said.
“They apply the latest scientific methods in food inspection and testing, in addition to applying a control system at the source, which is in coordination with the regulatory authorities in the countries that produce the food.”
The municipality has many methods to detect contamination, and its laboratories have equipment that meets the highest standards, she said.
Ms Al Bastaki said the municipality urged the public to avoid exchanging false information and to communicate with municipal authorities, which follows scientific methods in examination and research.


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Food and drink giants plot fightback as India looks to tighten rules
Several food and drink multinationals and trade groups met in recent weeks to discuss how to lobby more effectively against Indian proposals for higher taxes and stricter labelling rules on fatty or sugary foods, sources familiar with the talks said. According to officials, Prime Minister Narendra Modi’s administration has begun to look closely at policy proposals under discussion since at least 2015, raising concerns over the possible impact on the $57 billion sector. Alarmed by rising rates of obesity and diabetes, India plans to frame draft rules within a month requiring manufacturers to display the fat, sugar and salt content…
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Apple’s iPhone 5 was unveiled in San Francisco on Sept. 12 to a crowd filled with special guests and journalists. The device, as expected by the rumor mill, came with a host of improvements, including a larger Retina display, a new design, and 4G Long-Term Evolution (LTE) service. In many ways, it’s the device that customers today needed. But in far too many ways, it’s also a smartphone that disappoints those that were hoping for something far more special â and dominant.
Apple is undoubtedly a company that deserves all of the respect it gets. For years, it has found ways to innovate beyond anything the market has seen. And competitors have been left to only hope to catch up. It’s a feat unlike anything we’ve seen to this point. And it speaks to the genius of the late Steve Jobs and his executive team.
But because of all of that success, Apple is held to a higher standard. Customers can view the company’s nominal upgrades, while nice, as disappointments. And while any other company would be celebrated for launching new design updates each year, Apple can only get that courtesy when it totally changes a product’s look.
Although the following might seem like more of the same, this time around, it’s truly hard to not be down on Apple. The iPhone 5, as a standalone product, is nice and worth buying. But when considered in the context of its market and competitors, it looks awfully dull for a company that has spent so much of its time talking about how innovative it is.
1. The 4-inch screen is small
Although everyone complained that the iPhone 4S’ 3.5-inch screen was small compared to competitors, the same might soon happen with the iPhone 5. That device’s display comes in at just 4 inches. Sure, it’s better than its predecessor’s screen, but what about the countless 4.3-inch devices on the market? What’s worse, what’s Apple’s answer for the 4.8-inch Samsung Galaxy S III?
2. The design has hardly changed
There is a slightly new design in the iPhone 5, but it’s not a major upgrade. Apple basically made the device thinner, lighter, taller, and changed the back a bit. As Apple’s design guru Jonathan Ive said himself, Apple didn’t want to change the iPhone’s design too much. It shows. And it’s disappointing.
3. Where’s the NFC?
Apple made no mention of near-field communication in its presentation. It’s unfortunate. Near-field communication delivers communication between products, would offer mobile payments and much more. It’s available in countless Android-based devices. Why wouldn’t Apple offer it on the iPhone 5?
4. The 8-megapixel camera isn’t a major update
Apple played catch-up with the rear camera in the iPhone 5. The component comes with an 8-megapixel sensor, some low-light improvements, and a better lens. But who cares? Nokia recently announced the PureView camera in its Lumia 920 and that appears to be superior to the iPhone’s. Even the Galaxy S III’s camera appears to be able to match Apple’s option. Where’s the benefit in your option, Apple?
5. iOS 6 is nice, but not a major upgrade
Apple’s iPhone 5 will ship with iOS 6. For those keeping score, the operating system will launch with over 200 updates, including improvements to the calling screen, better do-not-disturb features, some Mail enhancements, and more. Even so, it’s not a major upgrade over iOS 5. And it’s highly unlikely that it’ll be a major selling point for Apple customers.
6. The new Lightning is annoying
Apple tried to put a good face on its new Lightning port, which replaces the 30-pin connector found in its previous devices. However, it’s a bit annoying. The port requires an accessory to connect the iPhone 5 to existing dock-ready devices, and will force customers to upgrade to new devices sooner than they might like. It’s nice that it’ll sync more quickly, but let’s be honest â Apple is trying to get rid of that, anyway.
7. Quad-core processor? Yawn.
Apple has finally unveiled the A6 quad-core processor. It’s a nice addition to the iPhone 5. But quad-core processors are by no means new. The chips have found their way to a host of Android-based devices, including those from Apple’s biggest competitors. Apple needed to deliver something better, and it didn’t.
8. More storage, please
Was anyone else disappointed that Apple didn’t offer up more storage in the iPhone 5? With video viewing becoming far more popular around the world, it would only make sense for Apple to give users more storage to allow them to keep that content on their devices. Instead, it topped out the iPhone 5 at 64GB.
9. How long will it take developers to catch up?
With a new screen size comes new headaches for Apple’s developer partners. The apps that were built for 3.5-inch screens won’t fit on the 4-inch displays until developers make modifications. That becomes a problem when there are many more 3.5-inch screens out there. Look for apps to look awfully weird after the iPhone 5 launches.
10. Don’t forget the hidden costs
Although the iPhone 5 comes in at the same prices as its predecessor, customers should be aware that there will be hidden costs. Chief among them? The aforementioned adapters for the Lightning port. Wondering how much that will cost? A whopping $29. Now, think of all of the products that need the 30-pin connector, and ask yourself if you want to carry that single adapter to all of them. Upset yet?


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Study: Bennington Wal-Mart would hurt other businesses
The Association Press | June 26,2008
BENNINGTON — Doubling the size of Bennington’s Wal-Mart store would provide short-term growth of about 75 new retail jobs, but would trigger-long term job losses at it hurt local businesses, a new economic study has found.
Economic consultants Kavet, Rockler & Associates said construction costs on the expansion project would be about $16 million, and that sales would be expected to more than double, to about $48 million in the first year of the bigger Wal-Mart’s operations.
But it said, “Most of the expanded store’s growth will come at the expense of existing stores in the served market area, with some impact on downtown but even more on commercial areas north of the town center.
On the jobs front, the report said, “In 2009, operation of the expanded store will generate a total of about 78 jobs, mostly in the retail trade sector. Total county employment impacts over the longer term, however, shrink to zero by 2013 and ultimately decline by about 35 jobs,” the report states.
The report estimates that 10 to 15 percent of the existing downtown businesses are likely to be hurt by the Wal-Mart expansion, including those selling clothing, beauty and hair products, sporting goods, electronics, eye wear and home and hardware goods. It added that empty storefronts may remain so for longer periods.
The Wal-Mart expansion, proposed by store owner BLS Bennington, LLC, would roughly double the current store’s size to 112,000 feet. It has been hotly debated in town for years.
The town passed a cap on the size of retail stores at 75,000 feet, only to have residents overturn it in a special election in April of 2005.
The town granted permits for the project in January of 2006; it’s now before the District 8 Environmental Commission.


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Get size wise!
Raksha Shetty, founder of XXLLENT.COM, says that those wearing plus size clothing should be confident and positive about their body
Plus size people often find it difficult to find a trendy and perfect fit outfit for themselves as not many brands and outlets promote them. But things are changing. Last year, Lakme Fashion Week had dedicated a session to this section.
Closer home, Pune-based entrepreneur Raksha Shetty observed that those wearing XL, XXL or XXXL size clothes always feel neglected. That motivated her to launch XXLLENT.com, a portal offering plus size clothing up to 8XL for both women and men. Their marketing partner is IBD India, a Hakuhodo Percept Company and they have seen a 40 per cent growth since their launch.
LACK OF OPTIONS
To know more about her initiative, we caught up with Shetty at her office on MG Road. “I had gone shopping for a family member who is about 3XL. Most stores we visited had clothes which they called free size but none up to the mark. They did not have anything nice or in vogue. Most buyers in such situations end up saying, ‘I have to take something, so let’s just buy this’. This got me thinking about the deficit of plus size clothing. A year back, I started researching further about it,” she says.
NO STANDARD SIZE
While researching, she found that India is the third most obese country in the world and still the clothing market is one of the most unexplored ones. “I realised that this is one sector which has a lot of potential and a huge possibility in the future. But it’s not an easy sector. In the USA and UK, they have standard sizing chart but in India, there’s no such chart. I had to work hard on getting it right, which involved a lot of customer feedback,” she says.
The challenge, she says, in plus size clothing is that as and when people grow obese, their body stops growing in a proportionate manner. “Some women are heavier on the lower side and others on the upper side. That’s why it was difficult to understand the right size,” says Shetty.
To address the problem, Shetty, who launched XXLLENT in February this year across India, offers the option of customised clothing. Throwing more light on it, she says, “About 90 to 95 per cent of the clothing can be customised to your exact fit. You put in your measurement and the exact size will come to your doorstep. We are trying to make shopping a little more easier for our customers.”
The website has a team of designers based in Pune.
FOCUSING ON WESTERN WEAR
XXLLENT focuses more on Western clothing compared to Indian. The reason, says Shetty, is that people prefer going to their local tailors for Indian outfits. “I believe that the Indian wear section doesn’t really work that well in the online industry because of this. When it comes to Western wear, local tailors charge a bomb. Then, you have the headache of picking up the fabric, and in case the fabric falls short, getting it is a tedious process and it costs even more. So people find our pricing economical and designs nice,” Shetty says.
She further adds that when it comes to couture section, people still prefer buying outfits after personally checking them out. “When they are paying a hefty sum for outfits, they prefer seeing it first,” she says.
Shetty says that they try and build a lot of body positivity among their customers. “For us, body positivity is not about being size zero but being comfortable with your size. We try and promote that a lot. There are many people who are comfortable wearing sleeveless or short dresses despite being on the heavier side. If people are comfortable and confident, they shouldn’t be bothered about wearing the dresses they want.”
A QUICK TIP
Shetty says that those buying plus size clothing should always know their size. “Most people don’t know their right size and that’s when they go wrong. Always measure your size before ordering online,” she says before signing off.


text: IBM landed a major foundry deal expected to be worth over $100 million Wednesday, agreeing to manufacture the next generation of Nvidia's GeForce graphics processors at its fab in East Fishkill, N.Y.Work on the new chips will start in the middle of 2003. IBM will use its 0.13 micron process technology to produce 300 millimeter wafers, which is the most sophisticated level of production currently used in mass quantities by other chip makers such as Intel, and Taiwanese contractors such as Taiwan Semiconductor Manufacturing (TSMC), which currently manufactures graphics chips for Nvidia.Responding to the announcement, TSMC issued a statement Wednesday saying that the Taiwanese chip maker had been reassured by Nvidia that it would remain the primary manufacturing source for the graphics chip vendor.GeForce processors bring enhanced graphics to PCs, and are usually found in PCs used in gaming and other graphics-intensive applications. Nvidia shipped 32% of total graphics processors shipments in the fourth quarter of 2002, according to data from Jon Peddie Research.IBM refitted its East Fishkill facility last year, laying off a number of workers in other technologies to make way for the contract chip-making services. Wafer fabrication plants are notoriously expensive to build from scratch, and many chip designers choose to outsource the manufacturing to foundries such as TSMC and United Microelectronics in Taiwan.Since bringing the fab online last year, IBM has signed agreements with Qualcomm and Xilinx to manufacture chips for those companies on the new chipmaking technology, an IBM spokesman said.In January, IBM announced it would work with Intel rival Advanced Micro Devices on developing 65 nanometer process technologies. At the time, the two companies said there were no foundry services involved in the deal. AMD and Nvidia work closely together on a number of different technologies, such as Nvidia's chipsets for AMD processors like the Athlon XP.


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Presented by Cedarburg Chamber of Commerce at *Multiple Locations*
Jul 04 2023
Ranked as the largest celebration of its kind in southeastern Wisconsin and coordinated by the Cedarburg Chamber of Commerce, this spectacle draws an estimated 10-15,000 spectators to the downtown Cedarburg Historic District.
Cedarburg’s annual 4th of July Hometown Celebration will take place on Tuesday, July 4. The roughly two-hour parade, noted for showcasing award-winning Division 1 drum & bugle corps, will start at ...View more


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Activision has revealed that the newly formed Sledgehammer Games is currently working on an ‘action-adventure’ entry in the Call of Duty franchise, as well as confirming that a second new title is also in the works for release in 2011.
Speaking in a press release issued over night, the mega publisher commented, "The company is also for the first time announcing that a new game in the Call of Duty series is expected to be released in 2011 and that Sledgehammer Games, a newly formed, wholly owned studio, is in development on a Call of Duty game that will extend the franchise into the action-adventure genre.”
For those unaware, Sledgehammer is headed by Glen A. Schofield and Michael Condrey, who previously worked on EA survival horror romp, Dead Space. Furthermore, just in case any of you were wondering, the Sledgehammer CoD title and the 2011 title are indeed separate games, as detailed in a memo by Activision bigwig, Mike Griffith.
"2010 is expected to be another big year for Call of Duty," wrote Griffith, "with Treyarch developing a new title for fall release, Infinity Ward’s downloadable content for Modern Warfare 2 in the works now, and a new Call of Duty title expected to be released in 2011."
"In addition, Sledgehammer Games is in development on a Call of Duty title in the action-adventure genre. It’s an exciting time and it’s the right time to ensure the appropriate resources are there to support Call of Duty’s growth,” he added.
Maybe we’re being a bit optimistic, but we’d love to see a game based around the past antics of Ghost or the legendary Captain Price. How about the rest of you? Let us know in the comments section below.


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“We follow only one road: we are installing natural refrigerants in all countries where it is technically possible,” said Olaf Schulze, director (Energy and Management) of METRO AG. “Therefore, we invite our international partners, from the suppliers, from the industry, to follow us, to support us and challenge us, in order to bring the new technology to the market,” he said, emphasising the Düsseldorf-based retailer’s goal to forge partnerships all over the world.
Clear commitment to natural refrigerants
Present in 2,000 locations and 29 countries, METRO has been recognised globally as an environmental leader with Schulze overseeing the company’s switch from f-gases to natural refrigerants. Under his leadership the company has equipped 39 stores with CO2 transcritical systems and 47 stores with CO2 subcritical systems. In 2016, it plans to equip 53 additional stores with natural refrigerants.
“We have a clear internal commitment,” Schulze explained. “In all of our existing and new stores, where it’s technically possible, we will only install natural refrigerants. We started this process in 2008 and have clear planning until 2030.”
By 2025, Schulze estimates that METRO will have stopped using f-gases in around 90% of its stores. According to him, the company is on track to open, on average, 50 natural refrigerant stores every year, globally. In China, METRO plans to equip 12 stores in 2016.
With refrigeration responsible for more than 20% of the company’s greenhouse gas emissions, METRO was eager to find a way to reduce this negative environmental impact. Its climate strategy, published in 2011, aims to reduce the group’s carbon impact by 20% by 2020. During the COP21 climate conference in Paris, METRO’s targets were adjusted, with plans to reduce the company’s carbon impact by 50% by 2030.
At an estimated €800 million, METRO’s F-Gas Exit Programme (introduced in July 2013) ranks among the METRO Group’s biggest investment plans.
Reducing total cost of ownership with heat reclaim
Ian Crookston, manager for energy management at Sobeys, a Canadian grocery retailer, explained that in the case of CO2, using heat reclaim, parallel compression, ejectors or three-level systems are some of the possibilities at hand to reduce total costs. Sobeys started installing CO2 transcritical systems in 2009, and is now using CO2 transcritical centralised booster system with heat reclaim.
“CO2 as a natural refrigerant has a number of thermodynamic advantages over typical synthetic refrigerants,” explained Crookston. “The system’s heat reclaim can be used for the HVAC purposes (heating, ventilating and air conditioning), and for heating domestic hot water, of which large quantities are required for cleaning in-store food production equipment.”
Crookston said Sobeys took advantage of CO2’s gliding temperature and high efficiencies to heat water up to 85 degrees Celsius before blending with cold water to ensure a final outlet temperature of 45 degrees Celsius.
Heat reclaim attractive with CO2 systems
In a CO2 transcritical booster system, there is no correlation between low temperature compressor power and outdoor ambient temperature. However, there is a strong correlation between outdoor ambient temperature and the power consumed by the medium temperature compressor. When outdoor ambient temperature rises, the coefficient of performance drops. “For a given outdoor ambient temperature, the discharge temperature of the high pressure compressor increases, and is higher for a CO2 system than a system running a synthetic refrigerant. This is one of the reasons why heat reclaim is so attractive with CO2 systems,” Crookston explained.
He added that in order make a data-driven decision on heat reclaim, the end user needs to take into account a number of things, such as heating requirements, legal requirements, regional costs and component efficiencies. “If waste heat is available, [using it] makes sense. If it’s not available, we must make the decision on relative costs,” he concluded.
Depending on relative energy costs, Crookston presented the company’s energy savings in different regions. Where waste was available, the annual net savings were positive (Ontario: CAN$ 1,870, Nova Scotia: CAN$ 4,937, and British Columbia: CAN$ 2,348).
“CO2 technology is rapidly evolving, and many new improvements continue to come to market. These are exciting times to be in the refrigeration [business].”


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Because dogs do fashion too, you know
Anna Wintour and Victoria Beckham
Vogue's Fashion Night Out kicked off around the world last night, with celebrations happening in New York, London, Paris, Milan and Madrid.
Naturally the queens of the fashion world were out in force and over in New York, evidence of an ever-growing friendship between Victoria Beckham and the most powerful woman in fashion, Anna Wintour, was on display at luxury designer store, Bergdorf Goodman.
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A day after Under Armour reported its first quarterly sales decline since it went public in 2005, the sports apparel maker said two of its top executives will leave the company.
Andy Donkin, chief marketing officer, and Pam Catlett, senior vice president and general manager of the women’s and youth categories, will leave later this month, the company said.
“We have mutually agreed to part ways,” Under Armour said in a statement about their departure.
Donkin came to Under Armour in August 2016 from Amazon, where he had been a marketing executive. At that time, Under Armour had announced leadership changes, including appointing Kip Fulks, founder Kevin Plank's first partner, to a new role of chief product officer.
In June, after the brand brought in Patrik Frisk as company president and chief operating officer, Donkin became one of five executives reporting to the new president. Last month, Under Armour said Fulks, who had taken on the role of strategic adviser, is taking a sabbatical.
Catlett had worked for Under Armour for more than two years.
News of the departures came after the company on Tuesday posted disappointing financial results for the July-to-September quarter. Sales slid 4 percent to just over $1.4 billion, amid intense competition, shifting fashion preferences and growing pains. The brand slashed projections for sales and earnings for the year, sending shares down to a four-year low.
On Wednesday, Under Armour shares retreated another 3.75 percent, falling to $12.05 each.


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Indian PUBG MOBILE organization Megastars has signed a partnership deal with streaming platform Nimo TV. The deal gives Nimo TV exclusive streaming rights to the Megastars players. In the past, the platform announced similar deals with other Indian organizations such as UMumba and Powerhouse.
Nimo TV is owned by Chinese streaming platform Huya and has a presence in Southeast Asia, South Asia, and South America. Since its launch in May 2020, the company has tried to bring content creators and pro players onto the platform. Nimo TV has also held PUBG MOBILE tournaments in a bid to attract the core esports audience. This includes the recently concluded Nimo TV PUBG MOBILE League.
Megastars is one of the rising prospects in the Indian PUBG MOBILE ecosystem. The team recently qualified for the World League and will participate at the highest level of competition later this month. It also fields rosters in Call of Duty: Mobile and Clash Royale.
Shounak Sengupta is a staff writer for AFK Gaming.