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Kroger Offering $100 To Workers Who Get Vaccinated For COVID-19Kroger is offering $100 to each of its 500,000 workers who gets vaccinated against COVID-19.
Very Low Flu Activity Reported In Texas, COVID Restrictions Likely WhyRestricted travel has meant less opportunity for the flu virus to spread into Texas so far this winter.
Americans Cooking, Eating At Home Push Kroger Grocery Sales Up For 3QAs COVID-19 infections surge in Texas and across the country, sales at Kroger grocery stores are surging as Americans restock their pantries.
List: Free Flu Shots Offered For The Uninsured At Some Tarrant County Albertsons, Kroger, Tom ThumbThe free flu vaccinations are available through the end of 2020.
Big Grocery Chains Look To Avoid Empty Shelves By Restricting Amount Of Same Items One Can BuyKroger is only allowing customers to buy two of certain items like toilet paper and disinfecting wipes, supplies that were flying off store shelves as people panicked earlier this year.
Texas Grocery Stores Putting Limits On Items As Holidays Approach And COVID-19 Cases SkyrocketAs the COVID-19 pandemic continues to worsen in Texas and across the country, a number of grocery store chains are again putting purchasing limits on items like disinfectants and paper goods.
Kroger Partners With Dallas County Health And Human Services To Offer Drive-Thru Flu VaccinesTheir collaborative effort will have the capacity to administer up to 600 vaccinations during the one-day event, according to Kroger.
Aggravated Serial Robber Hits At Least 6 DFW Area Grocery Stores In Last 7 WeeksPolice said the crimes happened at a Brookshire’s Food Store and several Kroger grocery stores.
Fort Worth Police Investigating Early Morning Shooting In Kroger Parking LotFort Worth detectives are investigating after a shooting in a Kroger parking lot sent two store workers to the hospital.
Kroger To Mandate Masks On All Customers Beginning Next Week"We are taking this extra step now because we recognize additional precautions are needed to protect our country," the company said.
Kroger Grocery Stores Will No Longer Give Change In Coins Amid ShortageDon't expect to receive change in coins when you go to one grocery store. Kroger, a supermarket chain with hundreds of locations in Texas alone, has stopped giving customers coin change, citing the nationwide shortage.
Kroger Doubles Back, Will Not Require Workers To Return COVID-19 OverpaymentsKroger has had a change of heart over what it recently deemed "overpayments" to quarantined workers on COVID-19 emergency leave.
Kroger Grocery Stores Ending $2 An Hour "Hero Pay" Bonus For WorkersThe coronavirus pandemic that has killed more than 1,000 Texans rages on, but Kroger is already ending a modest "hero bonus" for the supermarket chain's workers.
Kroger Bringing Coronavirus Drive-Thru Testing To New Sites In South Dallas And Fort WorthThe free testing in Fort Worth begins Thursday, May 7 at J. P. Elder Middle School. The one in Dallas begins Saturday, May 9 at CitySquare.
Meat Shortages Leave Some Costco, Kroger And Wendy's Customers Asking 'Where's The Beef?'Some supermarket chains in Texas are now limiting how much meat shoppers can purchase during the coronavirus pandemic.


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Shoe Zone has swung back to profit for the past year after shuttering loss-making stores.
The discount shoe retailer saw shares shoot higher on Tuesday morning after it hailed recovering sales and profitability following the impact of the pandemic.
The company posted £9.5 million pre-tax profits for the year to October, swinging from a £14.6 million loss a year earlier.
It came after the group closed around 50 unprofitable stores during the year, bringing its portfolio to 410 sites.
Shoe Zone told shareholders it has also been boosted by the opening of new “big box and hybrid” format stores from its original smaller formats.
It said the move has seen the business relocate to better locations and enable the firm to stock a greater range of styles.
The company currently has 51 “big box” larger format stores and plans to expand this to 100 sites.
Sales at the retailer over the year dipped by 2.8% to £119.1 million after it was affected by lengthy periods of enforced closures.
It said the closures were partly offset by a jump in digital revenues, which leapt to £30.5 million from £19.3 million in the previous year.
Anthony Smith, chief executive of the retailer, said: “Shoe Zone had a very successful year due to the incredible hard work of our teams, by reducing costs, reducing non-essential capital expenditure, continuing to accelerate investment in our digital business alongside improving and streamlining operations.
“The decision to invest in our digital infrastructure and operations has led to significant growth in online sales over the last 12 months, giving us the going to continue investing in our people and our shoehub platform.
“We aim to increase drop ship partners, market places, exclusive products, brands and plan to introduce additional payment and delivery options to enhance customer experience.”
Shares in the company rose by 18.6% to 140p in early trading.

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The British Retail Consortium had called for a two-year freeze on the business rates increases, describing the current system as “unsustainable”.
According to the BRC, the retail industry accounts for 5% of the economy but pays nearly 25% of the overall business rates bill, at more than £7bn per year.
“This is a disproportionate burden and is leading to decisions to close stores, while at the same time getting in the way of the modernisation and reinvention of Britain’s high streets,” the lobby group said.
A freeze on a rates rise would provide relief for the retail industry at a time when it is under significant cost pressure and is going through a period of transformation driven by technology and changing consumer behaviour, the BRC argues.
BRC ceo Helen Dickinson said: “The current business rates system is not fit for purpose. It is a 20th century answer to a 21st century problem. Retail shoulders far more than its fair share, and the rates bill is leading to store closures and getting in the way of reinvention of our high streets.
“The BRC is calling on government to freeze business rates until the 2021 revaluation to relieve the burden of this unfair tax on retail businesses and allow time for dialogue about the wholesale modernisation of business taxation. This would be welcome government support for the country’s largest private sector employer at a critical time.”


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Wal-Mart Stores seems poised to open a new front in its worldwide battle with Tesco, reportedly seeking to buy the British supermarket chain J. Sainsbury, which has been the target of private-equity interest.
Asda refused to comment on the report, which appeared in the Daily Telegraph. A spokeswoman termed it "market speculation," and, indeed, J Sainsbury shares rose 3.5 pence (7 cents), or 0.6%, to 552 pence ($10.85), on Tuesday afternoon in London. The stock has been steadily advancing from a low of 308.5 pence ($6.06) in June, and its shares shot up in heavy trading early in February.
Asda is speaking to competition authorities about whether it might be allowed to place its own bid for the company or purchase certain assets from a successful private equity buyer, the Daily Telegraph reported.
A consortium led by CVC Capital Partners and including Kohlberg Kravis Roberts, Blackstone Group and Texas Pacific has already emerged as leading candidates to bid for the company. (See: "Sainsbury Up On Bid Discussions")
According to a report in the Times earlier this month, the bid was worth about £9.5 billion ($18.7 billion), but the current market value of Sainsbury is already higher than that, just under £9.6 billion ($18.9 billion).
A combination of Asda and
On the face of it, it seems unlikely that British competition authorities would allow a combination between Asda and Sainsubury, given that both were barred from buying No. 4 retailer Safeway in 2003. A smaller rival,
Yet the disastrous outcome of the Safeway/Morrison combination suggests that even if regulators did allow two of Britain's biggest supermarkets to merge, their tie-up could be fraught with challenges.
"The market positioning of Sainsbury's and Asda are not the same," Teather & Greenwood analyst David Stoddart told Forbes.com. "There is obviously a huge amount of overlap in products and store sizes. They are fundamentally different businesses who are approaching food retail in different ways."
But analysts at Citigroup believe there is some industrial logic to a tie-up and that Asda could get the green light from regulators. "Asda could claim that Tesco has so many structural advantages, it cannot be caught and that a buy-out would damage Sainsbury in the long term... A merger with Asda would lead to up to £1 billion ($1.97 billion) of synergies that could be shared with consumers," said David McCarthy in a research note.
Giving such a tie-up more credence is the fact that authorities have already been concerned at
For private-equity suitors, Sainsbury's looks like an attractive target because of its real estate assets. Its new owners could conceivably free up as much as £7.5 billion ($14.7 billion) in cash by selling the company's stores and leasing them back, then using the proceeds to move the chain into clothing and household goods to rival the retailing prowess of Tesco.
The CVC consortium currently has deadline of April 13 to make a formal bid under proviso of the U.K. Takeover Panel, and a report by AFX News said that 585 pence ($11.50) per share could be made by a group by this Thursday, the day after Sainsbury's gives its fourth-quarter trading update.,
But Asda's involvement of the competition authorities could delay matters. "If Asda decided that it was going to bid, and then Tesco decides it may as well have a look at it too, it is possible for the authorities to take a few months to look at the whole issue, and there might be some constraints put on the deal," said Stoddart, adding that "anything that puts grit in the gears" was also worthwhile from a rival's standpoint.
Already holding a deal back somewhat are the company's pension trustees, with whom the private-equity buyers must still thrash out an agreement over how to cover the company's retirement-plan deficit, which could reportedly soar to £3 billion ($5.9 billion) if passed to a third-party insurer.
Solving the pension problem is crucial to the success of a bid. Seymour Pierce analyst Richard Ratner told AFX that buyers might be asked to provide around £1.25 billion ($2.46 billion) to initially fill up the deficit hole. "It is not clear whether it will be a 'deal-breaker," but the pension could turn out to be the "fly in the ointment," said Ratner, who is keeping a "nervous hold" on the stock.


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New Delhi, January 21
Lt Governor Anil Baijal on Friday approved the Delhi government's proposal to allow private offices to function with 50 per cent staff but suggested maintaining the status quo on lifting weekend curfew and removing odd-even rule for the opening of shops in the markets, sources said.
Any decision on lifting the weekend curfew could be taken once the Covid situation in Delhi improved further, they said.
Earlier in the day, Deputy Chief Minister Manish Sisodia said in a press conference that the Delhi government had proposed lifting weekend curfew, ending the odd-even system for opening of shops and allowing private offices in the city to run with 50 per cent staff.
The proposal approved by Chief Minister Arvind Kejriwal had been sent to Lt Governor Anil Baijal for his consent, he said.
The decision to ease the restrictions was taken in view of declining number of Covid cases in the city and its effect on the livelihood and business activities, he said.
The traders in many parts of the city have demanded lifting of curbs including the opening of shops of non-essential goods on alternate days based on odd-even system.
The weekend curfew imposed because of rise in Covid cases would be in place from 10 pm on Friday and continue till 5 am on Monday.
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As vehicles continue to become more and more technologically advanced and chock full of advanced driver assist features, automakers are stuffing more and more sensors, cameras, and other pricey bits and pieces into them. As such, the replacement cost for something as simple as, say, a taillight can stretch into the hundreds or even thousands of dollars, making them a prime target for thieves. One Ford F-150 owner recently discovered this the hard way after taking his pickup in for repairs, which Ford technician Brian Makuloco of the YouTube channel Ford Tech Makuloco recently documented in the video below.
Makuloco is no stranger to the Ford F-150 in general, having churned out numerous helpful videos centered around the popular pickup – most recently, outlining the importance of finding a quality repair shop and just how complicated it can be to swap out an entire Ford 3.5L V6 EcoBoost engine. In this latest clip, a customer told our resident tech that his 2018 Ford F-150 Limited was displaying rear-side obstacle detection warning messages and acting quite erratically – to the point where it was nearly impossible to drive, in fact.
Right off the bat, Makuloco was able to find the culprit – water had leaked into the taillights, which is a common problem with pretty much every vehicle on earth, albeit typically not ones that are this new with lower miles on the clock. Regardless, while this would normally be a cheap and easy fix, this particular F-150 is equipped with LED tail lamps and side obstacle detection radar, meaning that it’s also equipped with loads of sensors, wiring, and other pricey stuff.
In this case, the water that entered the taillights caused corrosion to occur in the wiring and the module – part of the medium-speed CAN network – which is precisely why the owner experienced all sorts of electrical gremlins as a result. While it’s still a relatively easy fix, the cost of the parts and labor totaled over $5,000, which is quite eye-opening, but in this case, Makuloco was at least able to diagnose the problem quickly, which saved the customer some money in labor costs, anyway.


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P&G posts Q2 11 results
Procter & Gamble Hygiene and Health Care Ltd (PGHHCL) has announced its unaudited Q2 resultsFebruary 03, 2012 | comments ( 0 ) |
Procter & Gamble Hygiene and Health Care Ltd (PGHHCL) has announced its unaudited Q2 results ending December 31, 2011. The net sales registered 19 per cent increase at Rs 354 crore from Rs 298 crore during the corresponding quarter last year.
The increase in earnings is due to the investment in advertising and promotion to defend sales amidst competition and better resource management. Profit After Tax (PAT) stood at Rs 51 crore compared to Rs 44 crore in the corresponding quarter of last year.
- Grofers' standalone loss narrows to Rs 258 crore in FY18
- Tablez eyes launching 20 exclusive Build-A-Bear stores in India
- Future Consumer signs MoU with T Choithrams & Sons
- Apparel brand Turms raises Rs 2 crore in fresh funding
- Luxury brand ShazÃ© plans to launch up to 10 new stores in 2019
- Patanjali eyes opening 100 Paridhan stores in the next one year
- Puma hires boxing champion Mary Kom as brand ambassador
- Epic Group to make $20 million investment in India
- Simon Carter to launch 3 new Indian franchise stores
- Titan Eyeplus open 3 new stores in Coimbatore


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Ah, the good old days. Of last year. When nearly all wireless data plans were of the all-you-can-eat variety and you could download your fingers off with nary a care. That's not the case any more.
With the issue of network neutrality behind the U.S. Federal Communications Commission -- at least temporarily -- the agency must turn its focus to freeing up wireless spectrum, reforming telecom subsidies and promoting broadband deployment and adopt...
Verizon Wireless today warned new customers that it will throttle back data speeds on the top five per cent of users who hog network bandwidth, a move apparently timed with the Feb. 10 carrier's launch of the data-hungry iPhone 4.
The GreenTouch Consortium demonstrated its work Tuesday into how using large-scale antenna systems and virtual modems, along with splitting mobile networks into two parts, can help reduce energy consumption of operator networks by a factor of 1000.
AT&T reported Thursday it had 95.5 million wireless subscribers at the end of 2010, putting it ahead of Verizon Wireless, which reported earlier this week that it had 94.1 million.
What is a wireless subscriber? And what is a wireless customer? The difference is important when it comes to the two largest U.S. wireless carriers.
There's little doubt that Verizon Wireless has an instant hit on its hands with the Apple iPhone 4, which the U.S. carrier starts selling on February 10. But how many millions of iPhones will Verizon sell in 2011? According to one analyst, sales cou...
To spur Android app purchases and help application developers, Google will introduce a range of new features around its online Android Market, including an in-app payment option and expanded carrier billing.
AT&T reported revenue of US$31.4 billion for the fourth quarter of 2010, up 2.1 percent from a year earlier, with the company reporting a record gain in mobile customer additions.
If carriers were like sports teams, Verizon could be described as having a lot of momentum heading into its iPhone showdown with AT&T.
While Sprint isn't willing to give away its unlimited data plans, the carrier must also make concessions to reality.
The US Government's case against two men charged with hacking into AT&T's website to steal e-mail addresses from about 120,000 iPad users got a boost last year when a confidential source handed over 150 pages of chat logs between the two and other me...
Professed White Hat hackers face federal criminal charges for grabbing the e-mail addresses of 114,000 AT&T 3G customers who use iPads.
Thinking about getting a Verizon iPhone now that AT&T has lost its U.S. exclusivity arrangement with Apple? Well, not so fast. Verizon might have the reputation for being the more reliable network, but judging by PCWorld's most recent 3G speed te...
More than one-in-four iPhone owners now using AT&T will switch to Verizon, a U.S. consumer survey said today.
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First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.
For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.
The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.
The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.
My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.


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* Windows Phone 2012 W.Europe mkt share to double -S.Analytics
* Strategy Analytics sees Windows 2012 share at 12.3 pct
* Challenges include fewer apps, lack of superphones
* Sees 2012 West Europe smartphone mkt up 12% to 117 mln units
By Tarmo Virki, European Technology Correspondent
Oct 25 (Reuters) - Microsoft (MSFT.O) will double its share of the Western European smartphone market during 2012 to 12.3 percent, helped by its new partnership with Finland’s Nokia NOK1V.HE, research firm Strategy Analytics said on Tuesday.
Nokia is scheduled to roll out its first smartphones using Microsoft’s Windows Phone software platform on Wednesday at its annual media event in London.
Nokia decided to ditch the aging Symbian platform in favour of Microsoft’s software in February 2011 in a risky deal which spooked investors.
Nokia’s market value has since halved as investors are unsure whether it can ever regain the market share it lost.
The 12.3 percent forecast for Microsoft’s software refers to its use across several mobile phone makers and compares to the much higher market share Nokia’s Symbian platform alone previously enjoyed -- it controlled 41 percent of the West European market as recently as the first half of 2010.
Strategy Analytics said it expected Western Europe smartphone sales to reach 117 million units in 2012, growing 12 percent from this year, with Microsoft’s Windows Phone being the fastest growing major platform.
“Due to growing support from leading hardware vendors, particularly Nokia, Microsoft is in a good position to become Western Europe’s third major smartphone platform behind Android and Apple iOS next year,” analyst Neil Mawston said in a statement.
Strategy Analytics said the Microsoft platform would benefit also from Samsung Electronics (005930.KS) and HTC (2498.TW) promoting models using it, but cautioned that Microsoft’s long-term success was not yet fully guaranteed.
”There remain several on-going challenges for Microsoft, including its limited support for high-growth dual-core superphones, the relatively modest size of its Marketplace apps store, and a consumer brand perception of Windows Phone that may have been tainted by the past weaknesses,” Mawston said.
(Reporting By Tarmo Virki; Editing by Helen Massy-Beresford)
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Kylie Jenner is teaming up with her 21-month-old daughter for her latest makeup collaboration.
The 22-year-old mogul, who recently sold a majority stake of her Kylie Cosmetics business to Coty Inc. for $600 million, revealed she is working with daughter Stormi Webster for her upcoming Valentine’s Day makeup collection.
Jenner took to her Instagram on Thursday to post a picture of little Stormi looking at concept art for the upcoming collection.
The images show pink packaging that reads “Stormi” decorated with colorful butterflies while Stormi leans over a table and examines the mock-ups for the brand's upcoming collection.
One notable feature is a lilac box for a matte liquid lipstick, which was clad with butterflies.
The cute snap was also shared on the Kylie Cosmetics’ Instagram, where the caption states that this is the brand’s first collaboration of 2020.
This seems to be the perfect time, and a dedicated collab with Stormi, as she is set to celebrate her second birthday on February first.
This may be Stormi’s first foray into the family business, but Jenner routinely looks to her family to collaborate for her beauty brand.
She’s teamed with sisters Kim Kardashian West, Kourtney and Khloé Kardashian on singular makeup collections and with Mother Kris Jenner for a Mothers day collection in 2018.
The 22-year-old billionaire also co-runs contemporary fashion label Kendall + Kylie with sister Kendall Jenner.
It’s not yet been revealed what the Kylie Cosmetics X Stormi makeup collection will entail, but no doubt it will be one of Jenner’s most colorful collaborations.
This comes after Kylie recently opened up about her relationship with ex best-friend Jordyn Woods.
Kylie appeared to address the scandal in her New Year's Eve message, as did Woods, who reflected on the "dark times" she's been through.
The Kardashians were hit by one of their biggest scandals ever in February when reports surfaced that Khloe's boyfriend Tristan Thompson had cheated with her sister Kylie's BFF Jordyn.
As Kylie looked back on her year, she wrote on Instagram: "Happy New Years Eve.. when you start to feel like things should have been better this year remember all the mountains and valleys that got you HERE.. there is more to you than yesterday. 2020 positive vibes ONLY xx"


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Samsung has already issued a statement commenting on its devastating loss in its legal tussle with Apple. The company pulls no punches, calling back to the stirring language it used in its closing arguments. We're reproducing it in its entirety below.
Today's verdict should not be viewed as a win for Apple, but as a loss for the American consumer. It will lead to fewer choices, less innovation, and potentially higher prices. It is unfortunate that patent law can be manipulated to give one company a monopoly over rectangles with rounded corners, or technology that is being improved every day by Samsung and other companies. Consumers have the right to choices, and they know what they are buying when they purchase Samsung products. This is not the final word in this case or in battles being waged in courts and tribunals around the world, some of which have already rejected many of Apple's claims. Samsung will continue to innovate and offer choices for the consumer.


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New research into social networking sites claims to have uncovered sharp online class divisions.
A preliminary report from a six-month research project by the School of Information Sciences at UC Berkeley carried out by PhD student Danah Boyd found the class divide between popular social networking sites MySpace and Facebook.
In part these were systemic, as until recently Facebook was restricted to college students, but there is also evidence of class having an effect.
"The goodie two-shoes, jocks, athletes or other 'good' kids are now going to Facebook. These kids tend to come from families who emphasise education and going to college. They are primarily white, but not exclusively," she said.
"MySpace is still home for Latino/Hispanic teens, immigrant teens, 'burnouts', 'alternative kids', 'art fags', 'punks', 'emos', 'goths', 'gangstas', 'queer kids' and other kids who didn't play into the dominant high school popularity paradigm.
"MySpace has most of the kids who are socially ostracised at school because they are geeks, freaks or queers."
Boyd further noted that this has also had an effect in the way the authorities are dealing with the sites.
She suggested that the reason the US military banned the use of MySpace and not Facebook is because officers are much more likely to use Facebook, while enlisted men are on MySpace.
"The military ban appears to replicate the class divisions that exist throughout the military," she said.
"I cannot help but wonder if the reason for this goes beyond the purported concerns that those in the military are leaking information or spending too much time online or soaking up too much bandwidth with their MySpace usage."
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Storify’s eventual shuttering has been a long time coming. The social timeline curation service was acquired by commenting platform Livefyre back in 2013, which, in turn, was picked up by Adobe in May of last year. In a pithily worded note on its homepage today, the service announced that it will cease to exist as a standalone offering starting next year.
The process of disappearing from it current form will take a few months, but beginning today, users will no longer be able to sign up for new accounts. On May 1 of next year, the company will kill the ability to create new stories.
Two weeks after that, at 5PM Pacific Time on May 16, the site will shut down for good. The shuttering of the service applies to all content and accounts hosted by Storify. As such, it’s suggesting that users use its export function to save their work locally.
While Storify.com is going away, the service will apparently live on in another form, under the Livefyre umbrella, as Storify 2. The new service will only be available to users who purchase a Livefyre license.
“Since Livefyre was acquired by Adobe in March 2016, we’ve been fully integrating and aligning the product with Adobe Experience Cloud and its enterprise solutions,” an Adobe spokesperson told TechCrunch. “After May 16, 2018, Livefyre’s Storify.com, an offering that doesn’t fit in this strategy, will no longer be available.”
Adobe has a product page up for Storify 2, which it describes as “providing workflows and collaboration tools to streamline live blogging for large news organizations.” Meantime, if you’ve got any content on the site, better get downloading while the downloading’s good.


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While the world's population is rapidly advancing and expected to reach 10 billion people by 2050, it is impossible to meet this upcoming colossal demand for agricultural products and food and to feed a world population at this level with the existing production methods. It is necessary to go beyond traditional or conventional methods of agricultural production that are used in most parts of the world. More importantly, although new technologies will be introduced in production, it is equally important to prevent waste in the agricultural sector and to change consumer preferences and behavior to achieve sustainability in agriculture and food production.
Issues like protecting and improving existing arable land, methods of planting, inefficient harvesting processes that lead to large losses, wasteful packaging, proper storage and effective transportation all require new techniques and new approaches. Raising consumer awareness and making food products safe for consumers are also vitally important. Regarding International Food Safety Day on June 7, data disclosed by the United Nations World Health Organization (WHO) indicates that more than 400,000 people around the world die every year due to consumption of spoiled food.
According to the data in WHO's report, on a global scale approximately, one in 10 people get sick at least once a year from unknowingly, though sometimes knowingly, consuming spoiled or contaminated food, or food that was exposed to bacteria, viruses, parasites or harmful chemicals. The report points out that, for the sake of food security, 1 euro from each country to raise awareness for its citizens would produce 10 euros of productivity by preventing disruption of work life.
The report highlights that the global magnitude of the production or economic loss due to food poisoning or similar causes in countries where the income is at low or medium levels is annually $95 billion. Even in Europe, where the average standard of living is relatively high, an average of 23 million people get sick and 5,000 die every year due to unhealthy food consumption. WHO states that the data in the report is only the tip of the iceberg and that the number of people who have been ill or have died from food spoilage or poisoning may be even more grave. Turkey should mobilize its potential and capabilities in agriculture and food production for the future.
Central bank and the global scene
In the shadow of trade wars and the environment of uncertainty stemming from tension in the global political economy, the world's leading central banks are trying to establish a monetary policy course for themselves. It will not be easy to create a set of monetary policies addressing price stability without causing unnecessary volatility in the value of the country's national currency, slowing the country's economic growth or increasing unemployment. Before the U.S. Federal Reserve's meeting on June 18-19, a new interest rate hike not expected considering the current effect of the ongoing trade wars.
Fed Chair Jerome Powell's statement that the Fed's policy stance is appropriate and that they do not see a serious need for downward or upward movement in monetary policy interest contributed to the appreciation of the currencies of many developed and developing economies against the dollar. The euro-dollar exchange rate even saw 1.13 at closing last Friday and started the new week again above $1.13. At this point, the European Central Bank's (ECB) two critical meetings on June 27 and July 25 and President Mario Draghi's messages are also highly anticipated globally.
The real sector in Europe and the eurozone are more pessimistic than what the general picture the macroeconomic indicators point out in the financial sector and household economies, and the inflation data does not indicate an increasing trend. Therefore, it does not seem to be easy for the ECB to take steps to tighten monetary policy. All of the world's leading central banks, because of the consequences of the trade wars that have complicated global trade and in an effort to avoid any consequences that could negatively impact the competitiveness of the country, are trying to avoid any steps that could lead to the appreciation of the country's currency.
The current global picture has given the Central Bank of the Republic of Turkey maneuverability to send strong messages and to showcase its firm stance for the June 12 and July 24 meetings in order to accelerate the improvement in inflation expectations in the next 12 months and 24 months and to accelerate the decline in annual inflation, which will, in turn, disrupt the stickiness of the annualized headline inflation. As a matter of fact, the Monetary Policy Committee showed this stance on June 12. In September, we will be discussing a much more positive scenario on inflation and interest rate levels.
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.


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By Habibu Harisu
The Secretary Funtua Textiles Ltd (FTL), Alhaji Aliyu Bello-Ingawa, has called on Federal government to encourage cotton farming as a major crop among all categories of farmers in Nigeria.
Bello-Ingawa told the News Agency of Nigeria (NAN) in Funtua on Thursday that in view of cotton’s economic potentialities, government should mobilise farmers to embrace the farming.
He commended the present administration’s commitment to agriculture, addint that the efforts had yielded positive impacts on rice, maize and other grains production across the country.
He said the Federal Government support to textiles through the Bank of Industry (BOI) had facilitated increased growth in the sector and appealed for more value chain support in cotton production.
According to him, his company was part of the beneficiaries of the support.
Bello-Ingawa called for synergy between government and stakeholders to tackle cotton adulteration, facilitate the reintroduction of cotton grading system, out grower support schemes and other policies to improve the standard of the business.
He explained government’s inability to deter perpetrators of cotton adulteration had caused increased degradation of cotton quality in Nigeria.
The company secretary identified multiple taxation, indiscriminate importation of foreign goods, poor electricity supply and high cost of production as major impediments to textile industries in the country.
He added that FTL was among the few surviving industries in Nigeria and only textile in Katsina State with 700 workers on its pay roll.
Bello explained that FTL existed for the past 35 years and maintained its operation of four departments of ginnery, spinning, weaving, dyeing or finishing facilities, running three shifts daily.
He advised government to control smuggling and place high levies on importation of textile goods to encourage the Nigerian textile firms to compete with imported goods.
The Company Secretary said textile industries provided job opportunities for millions of Nigerians in the past and indirect jobs to numerous farmers, marketers and transporters.
He urged government to introduce measures to promote indigenous textiles.
He added that FTL assisted its business partners by providing seedlings and other support to cotton farmers.
Bello-Ingawa said the company provided employment to more than 1,600 workers in the its facilities during full cotton harvest season and about 4,000 auxiliary workers engaged in seasonal work.. (NAN)


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Imagine for a second what would happen if your business’ data was exposed and stolen. You’d have a really difficult time going forward as your client-base dwindled and you opportunities for growth dried up. The amazing part is that some very successful companies have this type of thing happens all the time. Today, we will look at some of the largest data breaches since September 1.
CAI Managed IT Blog
Antivirus developer Trend Micro is doing some damage control after an ex-employee stole customer data and sold it to online scammers. These scammers have been calling Trend Micro customers. If you use Trend Micro, it’s best to be wary of any calls you get.
Has your business’ network been breached? If not, you will need to continue to prioritize network security to keep hackers at bay. With 446 million records compromised in 2018 alone, businesses need to understand what threats they are currently under. Let’s take a look at some of the biggest data breaches that have happened since the beginning of May.
Ordinary fishing, where you hope for a simple-minded fish to latch onto your hook, relies on using a proper lure. The same can be said for the virtual method of phishing, where a hacker will use a similar type of “lure” to convince the target to bite. These phishing scams are especially useful for hackers who want to take advantage of social media to find new targets. A recent study has shown that this is a surprisingly effective method of phishing.
Thanks to one of Google’s researchers with the Zero Day Project, it has been discovered that LastPass has a major vulnerability as a result of a major architectural problem. This news comes on the heels of many other flaws the same researcher discovered within LastPass. However, based on what the researcher claims, these vulnerabilities were much less serious than his latest discovery.
Data breaches are common problems for businesses of all shapes and sizes. In fact, they often have huge repercussions that aren’t initially seen in the heat of the moment. How can you make sure that a data breach won’t negatively impact your business, even well after you’ve fixed the initial problem?


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CÎROC ultra-premium vodka, a brand of Norwalk, Conn.-based Diageo North America Inc., is celebrating the arrival of its newest luxury addition to the global collection of CÎROC flavors: CÎROC French Vanilla.
Diageo brand named Official Toast of Mercedes-Benz Fashion Week
September 8, 2014
Sean "Diddy" Combs and the makers of Ciroc Ultra Premium vodka announced the newest addition to its flavor portfolio — Ciroc Pineapple infused vodka. The new vodka offers a rich pineapple flavor with a touch of vanilla and a tropical finish, according to Diageo, the brand’s Norwalk, Conn.-based parent company.


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Tie and dye which was once the preserve of hippies and ravers has moved into the mainstream — the trend gathered steam during the pandemic, as lockdowns prompted consumers to experiment with creating their own designs at home. Having made a comeback in summer 2019, tie and dye has remained popular ever since, consistently ranking in the top 10 most searched print and pattern in womenswear, according to fashion search engine Tagwalk. In menswear, the trend is even more important, often in the top three most searched motifs, it reported. For fall 2021, tie and dye was present in 16 womenswear collections, making up 0.7 percent of looks across the board, a rise of 139 percent versus fall 2020, Tagwalk data showed.
H&M Innovation collection (Image source: WWD) Fall 2021 trend (Image source: WWD)
When one looks at tie and dye from a historic perspective, it seems particularly relevant now during the pandemic as it has enabled people to reconsider their speaking habits. It is a beautiful technique that is easy to use for repurposing things. For the fall 2021 collections, many designers captured this trend in its various formats. Tie and dye trend saw the use of its technique on existing printed fabrics, while H&M released their Color Story which is all about using natural colours, while at the same time offering online workshops for plant based dyeing.
One of the most interesting things about tie and dye is its versatility to be adapted into various forms of patterns and visual texture. With more than a year since people have been living online, more people are wanting to create things with their own hands. The more digital we live, there is a chance for rebound back to simplicity, as proved by a high increase in synthetic and natural dye suppliers as well as home-friendly weaving looms. The fun thing about tie and dye is that it has a long history and over the years it has witnessed its resurgence at different times, and with all of its resurgence it comes up with interesting variations and formats of working. Our textile design course in bangalore covers tie and dye which teaches students to explore its practice and potential.


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Chinese private equity firm Yunfeng Capital, co-founded by Alibaba’s chief Jack Ma, has led a US$120 million series E round in Xiaozhu.com, a Beijing-based short-term vacation home sharing platform. The investment will enable Xiaozhou.com to better compete with local rivals and Airbnb China for more market share.
The round, which is joined by Chinese venture and investment firms Joy Capital, Morningside Venture Capital and Capital Today, reportedly valued Xiaozhu.com at unicorn level, a term used to describe a private company valued at over US$1 billion.
Xiaozhu.com did not respond immediately to an inquiry from China Money Network to confirm the valuation.
Launched in 2012, Xiaozhu.com currently has over 200,000 property listings in more than 300 cities globally. The company, together with another home sharing firm Tujia.com, a unicorn listed on China Money Network’s China Unicorn List, are regarded as the two biggest rivals against Airbnb’s expansion to China.
In November 2016, media reported that Airbnb was in talks to acquire Xiaozhu.com to expand its business in China, as the U.S. firm was struggling to gain market share in the nation’s home sharing market. But later Airbnb reportedly abandoned the deal in the belief that Xiaozhu lacked the ability to attract high-end customers.
This June, Airbnb China was again reportedly in deal talks with Tujia.com. At that time, Airbnb’s spokesperson Nick Papas stated in an email to China Money Network that the news report was "false", without disclosing more details.
The Chinese home sharing industry is seeing rapid growth. The transaction value of the market is expected to reach RMB12.5 billion (US$1.9 billion) in 2017, up 43.6% year-on-year from RMB8.7 billion (US$1.3 billion) in 2016, according to iResearch.
Xiaozhu.com previously raised a total of US$65 million in series C+ and D funding rounds last November led by Joy Capital and Bertelsmann Asia Investments. One year prior, it raised a US$60 million series C round from Joy Capital, Morningside, and Heyu Capital.
In 2014, the company completed a US$15 million series B round from Legend Capital and Morningside. It also received tens of millions of U.S. dollars from Morningside in 2013.


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Poa Internet Service, a Kenyan startup that offers unlimited WiFi internet service to dwellers of low-income areas in Nairobi, has secured $28m in Series C funding.
The round was led by Africa50 with participation from Novastar Ventures. Africa50 is an infrastructure financier backed by the Africa Development Bank (AfDB), the Central Bank of West African States (BCEAO), Bank Al-Maghrib (the Central Bank of the Kingdom of Morocco, and 28 African countries.
Managing director and head of infrastructure investments at Africa50, Raza Hasnani, while speaking on the investment mentioned the importance of Poa’s work especially in a time when activities have become increasingly digitized due to the pandemic.
Raza Hasnani, MD& Head of Infrastructure, Africa50
Increasing access to reliable and affordable internet connectivity is strongly aligned with the key pillars of Africa50’s strategy, and we are excited to be part of this high impact journey and to support Poa’s growth in Africa,”
Affordable internet for low-income populace
The lack of affordable internet in Africa is one of the major reasons for the slow rate of digitalisation on the continent. According to a report published by the Alliance for Affordable Internet (A4AI), as of December 2020, only 29% of Africans have access to the internet. This access to the internet often comes at a high price, further deepening the divide.
Poa Internet, was launched 5 years ago in Kenya to provide affordable and fast internet services to low and middle-income neighbourhoods through its street wifi connections. This strategy is allowing the startup to effectively compete with giant telcos such as Safaricom Home by East Africa’s biggest telco Safaricom, Faiba by Jamii Telecommunication Limited and Zuku.
TechCrunch reports that Poa Internet has experienced tremendous growth from about 1,500 home Internet connections to 12,000 customers (homes and small businesses). Unlike competitors that provide data with limited usage, Poa offers a monthly subscription of $13 with unlimited data usage.
Our internet speeds are 4mbps, which is fast enough for video, because everyone wants to stream Netflix, use YouTube, download movies and make video calls. So, we’ve designed our service to be fast enough to deliver video, but most importantly, our price is a winning factor,”Andy Halsall CEO, Poa
According to Poa, it is not in competition with any of the big players as it is providing access to a niche that is considered to be underserved. Apart from home and business subscriptions, it has also provided Wi-Fi hotspots in public areas, where users pay about $0.18 for 1 GB of data. This connection is achieved through fiber network that it has laid out in all these neighbourhoods.
Our primary focus is to get the price as low as possible and to operate in the communities that don’t have fiber connectivity or are unlikely to get fiberAndy Halsall
Focus on Kenyan expansion
Internet accessibility and affordability is a problem across Africa. Poa plans to use the new funding to grow its reach, first across Kenya then progressively to other countries in the continent.
Poa Internet currently operates in Kibera, Kawangware, Jamhuri and Kabiria in Nairobi, and now in areas of Kiambu and Ting’ang’a. For the startup, the aim is to get a lot of people online and to give them a meaningful internet experience.
“We are focused on Kenya at the moment, but the problem we’re solving is continent-wide.Andy Halsall
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Macau has seen its casino industry sales shrink by a whopping 95 percent following China’s rigorous zero-COVID-19 policy, setting an all-time low record ever since statistics were made available in 2009.
Fanatics set up retail stores at each of the three venues hosting PSG games during the tour, with those locations seeing more than 10,000 customers purchase products during the two fixtures.
Analyst Ming-Chi Kuo predicts Apple will raise iPhone 14 costs, possibly increasing the base model’s price to nearly $1,000
Every virtual NBA game is driven by actual NBA data, which Sportradar obtained as part of a US$1 billion streaming and betting data agreement with the league.
Microsoft says making Activision Blizzard games exclusive to Xbox will not be profitable in response to Sony’s criticisms of the $68.7 billion acquisition
Sky’s second quarter revenue dropped 13.8 percent on year to $4.5 billion, mostly as a result of changes to licensing arrangements for sports programming in Italy and Germany.
The NFL has 16 franchises worth at least $4 billion, way more than the four in the MLB, and three in the National Basketball Association.
The NFT depicting Johan Cruyff’s iconic flying kick and goal will be auctioned off at Sotheby’s on July 29.
Apple is expected to produce less than 1.5 million units of its first mixed reality headset that could enter the market in early 2023
PSG taps Qatar Airways as new front-of-shirt sponsor
French soccer champions Paris Saint-Germain have inked a multi-year agreement with Qatar Airways as their new front-of-shirt sponsor.
Since 2020, the state-owned airline of Qatar has paid the Ligue 1 team a reputed $5.2 million to $10,4 million year as a premium partner. The updated agreement includes PSG's youth, women's, and men's teams.
Along with becoming the official airport and duty-free of PSG, Doha's Hamad International Airport (HIA) and Qatar Duty-Free (QDF) also offer official fan travel packages to Paris as part of the partnership.
With more LED exposure and improved VIP hospitality experiences, the airline's presence in the Parc des Princes stadium will increase. PSG and Qatar Airways also pledge to provide fans across the world with more engaging content.
The deal's value has not been made public. Before this deal, PSG's front-of-shirt sponsorship with Accor reportedly cost between US$62.7 million and US$72.1 million annually.
In the past, Qatar Airways has sponsored the jerseys of Italian team AS Roma and Spanish powerhouse Barcelona. To the disgust of its supporters, the airline also has agreements with the German champions Bayern Munich and the 2022 Fifa World Cup.
Since 2011, Qatar Sports Investments (QSI), a division of the sovereign wealth fund Qatar Investment Authority (QIA), has owned PSG.


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DOWNERS GROVE, IL - September 8, 2020: Elkay Commercial Systems is thrilled to have Christie Gibson, Sales Manager, officially join the Sales Team.
Gibson is New Jersey-based and has spent the last ten years developing, nurturing, and growing major chain accounts such as Starbucks, Famous Dave’s, Ruby Tuesday, Little Caesars, Golden Corral, Denny’s, and Benihana, to name a few. She has also worked with Bloomin’ Brands, one of the largest casual dining companies that own and operate many well-known restaurant brands in the U.S.
DOWNERS GROVE, IL, September 16, 2020: Elkay Manufacturing, global stainless steel sink and faucet manufacturer, expands its safety product line as we continue to navigate the coronavirus pandemic.
Developed earlier this year, Soapwell™ mobile handwashing stations fully comply with CDC handwashing guidelines and provide an entirely touch-free operation in 3 simple steps: sensor-activated hot water, soap, and hand towels accomplished without touching a surface.
DOWNERS GROVE, IL, JULY 27, 2020: In response to the coronavirus pandemic, Elkay Commercial Systems is helping customers navigate this time of uncertainty with new solutions. One of those solutions is AeroGlove®, an automated glove dispenser, developed by Hankscraft Inc. and now offered by Elkay Commercial Systems.
AeroGlove is a powerful tool to prevent the spread of germs and contamination in various applications, from restaurants, grocery and convenience stores, schools, and assisted living.
DOWNERS GROVE, IL - June 30, 2020: Elkay Commercial Systems is excited to welcome Marc Karos to the team as Sales Manager, focusing on the North American region. In his role, he will grow existing accounts and capture new direct end-customers within the food service space, including restaurant chains, fast-casual, coffee and tea houses, and convenience stores to support the overall sales strategy..
DOWNERS GROVE, IL (May 8, 2020) - As the global pandemic, COVID-19 continues to affect all areas of the world, there is an ever-increasing need to protect the safety of our essential workers. Elkay Manufacturing, a global stainless sink and faucet manufacturer, saw an opportunity to use their expertise to support these heroes on the frontlines.
With the company’s 100-year history, they have seen crises before and have been there to assist – today’s needs are no different. Focusing on one of their key values, “Our strength is in our people,” Elkay went to work developing a mobile handwashing station to be used as a portable option for touchless handwashing.
DOWNERS GROVE, IL (October 21, 2019) — Elkay Manufacturing, an American-owned and operated manufacturer of plumbing and water delivery products and parent of Elkay Interior Systems (EIS), a global interior design and manufacturing company, and Elkay Commercial Systems, a stainless steel commercial kitchen products business, today announced that President and CEO Tim Jahnke, who has led the company since 2007, plans to retire from day-to-day leadership to concentrate on his role on Elkay's Board of Directors. Ric Phillips has been named by Elkay's Board to succeed Tim as President and Chief Executive Officer.


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Amazon Reportedly Buys Siri Competitor Evi
A report from TechCrunch claims that Amazon recently purchased Evi, a Siri-like service that works on both Android and iOS.
Evi uses Nuance voice recognition technology in combination with the True Knowledge natural language search engine to give iOS and Android users voice search. Like Siri, the app can answer questions and help users find information online through voice search. A video demo for the app shows is providing users with scientific facts, recipes, nearby restaurants and the occasional joke.
The service knows about a billion “facts” and can learn from it’s users. The more people use the service, the smarter it gets and the better it’s answers become. That requires a big audience, however, which Amazon could provide.
It appears that Amazon bought Evi sometime in the recent past, though neither company will admit to an acquisition. There are some hints that something is up, however. TechCrunch notes that Evi replaced all of its directors with an Amazon UK legal representative. Evi also now uses the same corporate secretary as Amazon UK.
All of Evi’s loans were also recently paid off, which could hint at an acquisition.
If Amazon did acquire Evi, it could use the company’s service along with voice recognition company Ivona it acquired earlier in the year in the rumored Kindle phone. Amazon could use Evi as voice search in its rumored phone as well as it’s tablets, giving the company’s devices Siri and Google Now competitors.
Recent rumors said Amazon will release a 4.7-inch 720p smartphone sometime this year. Like its Kindle Fire tablets the rumored Kindle smartphone will likely use a forked version of Android that can only access Amazon’s Appstore instead of the Google Play Store.
Using a forked version of Android would mean the phone can’t use the Google Now service, which is likely why Amazon wants to buy its own voice search solution.


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tech2 News StaffMay 03, 2018 17:41:21 IST
HTC seems to have finally come out of the closet to announce a date for the launch of their next flagship smartphone, presumably the U12 Plus which we saw renders of in March.
The Taiwanese company took to its official Twitter handle to announce the 23 May launch date. HTC did not mention much in the Tweet but asked fans to look out for “a phone that is more than the sum of its specs.”
It might strike most as strange, but as per leaks, HTC might be calling their upcoming flagship, the U12 Plus and not the U12. A render revealed by a popular tipster, Evan Blass earlier suggested that the U12+ will sport a horizontal dual camera setup (16 MP and a 12 MP) on the back of the device, as well as an 8 MP shooter on the front of the device.
Coming Soon. A phone that is more than the sum of its specs. pic.twitter.com/m2skJSK0qt
— HTC (@htc) May 3, 2018
Initially spotted bearing the codename ‘Imagine’, the smartphone is expected to pack a 6-inch LCD panel on the front with WQHD+ resolution, hinting at an 18:9 or 19:9 display resolution. It will also likely be powered by a Qualcomm Snapdragon 845 SoC along with 6 GB RAM and arrive in 64 GB or 128 GB storage options.
HTC is also likely to pack the option to expand the storage with a microSD card.
It will be powered by 3,420 mAh battery while running Android Oreo-based OS out of the box. The company is also expected to feature the second generation of HTC Edge Sense hardware in the device.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.


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The UK now has new trade agreements with the EU and Switzerland – these now regulate the movement of people and the trade in goods and services. Travelling to the UK for Swiss nationals is now subject to new labour market and immigration rules, and UK nationals now face new rules if they wish to travel to Switzerland and the EU for business visits and work.
- The new trade agreements between the UK and Switzerland and the EU – what trade they permit and what barriers UK and Swiss companies face,
- The new UK immigration system for Swiss & EU nationals entering the UK – new visa rules, what business visitors are permitted, entry, and the UK formalities needed,
- What Swiss manufacturers need to do when they send their workers to the UK -and how the UK visa rules treat them,
- The new limitations placed on UK workers travelling to Switzerland and the EU and how this now restricts what work they can do,
- Hiring UK based workers who then need to travel to Switzerland and the EU - what yo need to know and what the new limitations are.
Any Swiss manufacturer trading either with a UK company, or in a supply chain that involves a UK company, with a UK subsidiary, or sending their workers to the UK either long term or short term or hiring or employing a UK worker.
None specifically needed – the webinar will cover the new rules for anyone who does not have an prior knowledge.
The webinar will give the attendees sufficent information to understand the barriers they will face when workers enter the UK and UK workers need to travel to work in Switzerland and the EU.
Speaker - Tim Thomas, IEMConsultancy, UK
Tim Thomas is an independent legal consultant, specialising in all aspects of immigration, employment and mobility law between the UK, Switzerland and the European Union. He advises large and small businesses on the trade implications of providing services across Europe and Switzerland, and the temporary movement of workers between the UK, Switzerland and the EU. He is a qualified UK lawyer who worked for employer associations in the UK and for the UK Government in Brussels.


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Publishers, writers and agents praised the new Waterstones Tottenham Court Road as “fresh” and “funky” at its official opening last night.
Figures from the trade said the largest Waterstones store to open in London in a decade would help to attract a new, younger audience to the book market.
The three-storey space has a "retro" appeal playing to the nearby Soho and British Film Institute (BFI) crowd, with crisp wooden floors on the ground level giving way to exposed industrial concrete in the basement, where the bar and pop up cinema are situated, seating around 60 people. It also sells vinyl and DVDs.
Andrew Franklin, publisher at Profile Books, said: “I think the bookshop is great. It will attract a different audience, a younger audience. If anything is going to drive younger people into bookshops, to read, this kind of bookshop will. It feels fresh and it’s got a whole new range.”
Louise Dobbin, of Repforce Ireland, agreed. She said: “It is fresh and funky, it feels very vibrant and its great to have this kind of look for a bookshop. It’s pleasing to see this. I think the local area will love it.”
Juliet Mabey, publisher at Oneworld, said she had already discussed using the space on the lower ground floor, which features a bar and cinema area, for book launches.
“The space is fantastic, and they have already got an events manager in place who we are beginning to talk to,” Mabey said. “It seems to me physical bookshops are definitely upping their game. Shops have improved which has helped to drive up physical book sales.”
Meanwhile Yomi Ayeni, producer and writer at Articipate Media, said the shop was “bold and alternative”.
“I don’t feel totally comfortable in your average bookshop, but there I do,” he said. “It’s got a cocktail bar – you could bring a first date here. It’s important for people to feel comfortable in a social environment around books.”
When asked how he would describe the style of the bookshop, Michelangelo Bendandi, head of communications for Frieze, said: “I woiuldn’t say it was hipster, but post-hipster. This is not trying too hard. It gets it right.”
Manager Zain Mahmood said that since the store opened just before Christmas on 11th December, sales had already tracked a head of expectations.
- Waterstones to open three storey shop on Tottenham Court Road
- Waterstones Tottenham Court Road store opens with cinema
- Waterstones to be 'transformed' ahead of Pullman release
- 'Searing' novel on Singapore occupation to Oneworld
- Publishers celebrate 'joys and challenges' of Pride Month with campaigns


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For DTC brands, the year of profitability will have to wait
This is the newest installment of a weekly new briefing about the big changes and challenges facing direct-to-consumer startups. Join Digiday+ to get access to this and all articles, research and more.
A month ago, I was talking to the founder of a one-year-old direct-to-consumer startup who was out trying to raise some money. The founder told me it was a pretty bad time to be fundraising. The coronavirus outbreak was just starting in the U.S, and some investors were already starting to get hesitant about deploying capital. Additionally, many of the investors the founder was meeting with were looking for companies that could display a surefire path to profitability, but without sacrificing high growth rates.
In the month since then, things have only gotten tighter. Months ago, steps that were being billed as smart and necessary in order for an e-commerce company to become profitable, like expanding wholesale partnerships and opening their retail stores, have now turned into logistical nightmares as most stores remain closed.
The context here is important. By and large, DTC brands have failed to make huge exits (with the exception of Dollar Shave Club). Wall Street, meanwhile, has reacted coolly to the IPO of Casper earlier this year. Now, DTC startups are talking less about becoming a unicorn company, and more about becoming profitable. And this was meant to be the year it happened. After a couple years of breakneck growth-at-all-costs, this was going to be the year that profitability became the word du jour, especially as many brands fizzled out and a clear reckoning began to take hold.
Take beverage company Iris Nova. CEO Zak Normandin told me that his number one goal this year was to become profitable. And they were on track to do that, in the early summer, in part by expanding wholesale and retail partnerships in places like coffee shops and hotels.
Now, of course all of those retail channels are shut off. Normandin said that Iris Nova is still on track to be profitable this year, albeit by August now. In a few ways, they are better off than most other companies. For one, DTC sales have been up about 100% year-over-year. Last year, Iris Nova shut off Facebook and Instagram advertising entirely in order to acquire customers more organically, so the company didn’t have a huge marketing budget to begin with. And, Iris Nova is still on track for its biggest wholesale launch yet, when it makes its products available for purchase in select Walmart stores later this month.
But Iris Nova hasn’t emerged from the crisis completely unscathed. The company did have to lay off half of its staff once it became clear that most of its wholesale distributors would remain closed for several months.
“The reason why we are focused on profitability is because we really want to have financial control over the business in a way that being dependent upon venture capital doesn’t allow you to have,” Normandin said. “And I think when you have a profitable company you can kind of choose your destiny so to speak, and that’s a big priority for us right now, especially given the current dynamics in the market.”
In my conversations with more than half a dozen founders over the last week, what I’ve found is that the only companies that have been able to avoid making layoffs are the ones that one, have a low headcount (less than 30 employees), two, sell their products through a variety of channels, and three, have a product in a category where demand hasn’t completely evaporated. That’s also what enabled some of them to be profitable in the first place and even though their revenue is still probably going to take a hit this year, the odds that they will be able to remain profitable are higher.
Mike Grillo, CEO of Gravity Products, which did shy of just under $20 million in sales last year and was profitable, said that the company is still on track to be profitable this year, because so far direct-to-consumer sales for its products continue to rise, and direct-to-consumer is a higher margin channel for the weighted blanket brand. It has a big retail partnership scheduled for the fourth-quarter that, if scrapped, could limit the company’s revenue growth this year, but shouldn’t limit profitability. The company runs lean, with roughly 12 employees.
It’s also worth noting that the coronavirus has thrown a wrench in what previously seemed like sound business models. Away announced week that it was furloughing half of its team and laying off another 10%. Co-founders Steph Korey and Jen Rubio wrote in a Medium post that, “a month ago, we were making a healthy profit margin on every order. Today, the company’s salary costs alone exceed our revenues many times over.” Away’s sales have dropped by more than 90%, as making a travel-related purchase has become pretty much a non-starter for any shopper.
“There’s this general perception or sort of commentary going around that a lot of these direct-to-consumer companies were like such a mess beforehand and there’s this sort of purging taking place, and I do think to some extent that’s true,” said Grillo.
But there a lot of companies that are making products that are not necessarily so timely right now….and it’s not for like lack of good business fundamentals that they are struggling.”
A number of consumer and retail startups shifting their attention towards raising money for small, local businesses. Direct-to-consumer apéritif brand Haus launched a new line of drinks this week, co-created with chefs from around the country, with 100% of the profits going towards local restaurants. Meanwhile, multi-brand retailer Neighborhood Goods said its opening up applications for musicians, artists, and restaurants to apply to secure space at one of Neighborhood Goods’ three stores for free when they re-open. It’s a way for these companies to get attention for giving back, but also hopefully gain new customers thanks to the dedicated followings that these local businesses have amassed.
Stat of the week
Consumers have now accepted that they’ll likely be spending a lot of time at home the next several months, and are buying products accordingly to keep themselves entertained. Shopify reported that for the week of March 30 among its merchants, sales of exercise bands were up 784% compared to 30 days prior, while sales of board games were up 691%.
Quote of the week
“How do you increase conversion without looking cheap or desperate? It’s scary,” said Justin Kerzner, president of Naked Retail, on knowing when to offer discounts.
More in Media
The retail giant paired its insights unit Luminate with Walmart Connect to help suppliers optimize for customer consumption, just in time for the holidays, explained the company’s CRO Seth Dallaire.
In this week’s Digiday+ Research Briefing, we examine BuzzFeed’s plans to pivot the business to an AI-driven tech and media company, how marketers’ use of X and ad spending has dropped dramatically, and how agency executives are fed up with Meta’s ad platform bugs and overcharges, as seen in recent data from Digiday+ Research.
Despite the hope that 2024 would be a turning point for publishers’ advertising businesses, the first quarter of the year proved to be a mixed bag, according to three publishers.


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Dubai Real Estate’s India Marketing Tactics, Ace Capital Teams Up with Wahter for Ads in India
India, March 20th, 2024: Pioneering a new dimension in real estate advertising, Ace Capital, a Dubai real estate investment firm, has forged a groundbreaking partnership with Wahter, India’s pioneering branded water bottle brand. Under the agreement, Dubai’s real estate players represented by ACE Capital will advertise on Wahter’s water bottles to showcase their offerings to potential customers in NCR. Recognizing the transformative potential of Wahter’s innovative advertising platform, this collaboration seeks to redefine how real estate ventures connect with global audiences.
This strategic move comes at a time when Indian investors have taken the lead as the largest contributors to Dubai’s real estate market, surpassing British investors who held this position earlier in the year. The continuous growth in Dubai’s expat population, a surge of nearly a hundred thousand people in the year leading up to July, and the attraction of 4,500 millionaires to the UAE in 2023 further highlight the buoyant demand in Dubai’s real estate market.
Ace Capital’s Chief Operating Officer, Jasmeet S Anand underscored the significance of this strategic advertising collaboration, “Our partnership with Wahter epitomizes innovation in advertising and investment outreach. By harnessing Wahter’s ingenious approach to brand visibility, we are poised to captivate the attention of Indian investors and showcase the unmatched opportunities within Dubai’s dynamic real estate landscape.”
In the first half of 2023, Indian investments in Dubai surged, constituting 62% of the total FDI from the previous year. The residential market witnessed significant contributions, exceeding $4 billion in purchases during 2022. Notably, India emerged as a key contributor to Dubai’s growth, investing $335 million in H1 2023, leading with 123 projects.
The allure of Dubai’s strategic location and tax-friendly policies continues to attract Indian investors, resulting in a notable total FDI of $1.6 billion from 2020 to H1 2023. This upward trajectory aligns with Dubai’s economic agenda outlined in D33, demonstrated by the doubling of Indian investments from $541 million in 2020 to $1.6 billion in H1 2023.
Echoing this sentiment, Wahter’s CEO heralded the partnership as a paradigm shift in marketing dynamics, “Teaming up with Ace Capital enables us to transcend conventional marketing channels prevalent in real estate, Wahter isn’t just a sustainable way of quenching thirst but now also becomes a gateway for our consumers to explore the limitless potential of Dubai real estate.”
This dynamic collaboration heralds a new era of synergy between innovation and investment, as Ace Capital’s branding adorns Wahter’s ubiquitous water bottles, permeating carts, strollers, and supermarket aisles across India. As the allure of Dubai real estate cascades through Wahter’s innovative advertising channels, both Ace Capital and Wahter stand at the forefront of revolutionizing how global investment opportunities are presented and embraced.


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What's this? Earnings slip on Aisle 9 at Publix
Wake up and good morning. If you're a Floridian, you have to admire Publix Super Markets. The Lakeland grocery giant, more than 1,000 stores strong, is that rare Florida-based corporation with enough clout and smarts to compete with anybody, anywhere. And it's No. 1 market spot in the Florida grocery business is testimony to its unusual ability to blend competitive style, employee loyalty and consumer awareness to stay ahead of the likes of Wal-Mart, Sweetbay, Winn-Dixie, newly arrived Aldi and other comers to the Florida food retailing world. So far. Just consider its most recent strategy into organic foods and its branding of the Greenwise name in this story from St. Petersburg Times business writer Mark Albright.
Still, it makes one wonder this week when Publix reported earnings with a substantial decline (18.9 percent!) in earnings. That's just not the Publix way, and certainly reinforces the impact of our nasty economic climate. Let's look at Publix's quarterly earnings since the start of 2007 and compare:
Third quarter 2008: $201.8-million vs year ago, down 18.9 percent.
Second quarter 2008: $295.8-million vs year ago, down 3.5 percent.
First quarter 2008: 343.2-million vs year ago, up 8.1 percent
Fourth quarter 2007: 311-million vs year ago, up 6.5 percent.
Third quarter 2007: $249-million vs year ago, down 1.5 percent.
Second quarter 2007: $306.4-million vs year ago, up 16 percent.
First quarter 2007: $317.6-million vs year ago, up 10.1 percent.
So what do we have see? The latest quarterly earnings are the lowest in quite awhile. Publix, being a privately-held company, does not share many insights on its performance. Publix CEO Ed Crenshaw acknowledged in a brief statement that times are tough. "Our costs are continuing to rise while many customers are struggling to make ends meet. So our results and stock price were significantly affected by this difficult operating environment.”
Publix's stock dropped 9 percent to $17.90 per share since the last valuation when it was $19.70 per share. The company's stock is not publicly traded and is sold only to employees and board members. The share price is determined through an independent appraisal.
-- Robert Trigaux, Times Business Columnist


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German luxury-car maker Audi (AUDVF) has confirmed plans for a big all-wheel-drive electric sedan that will be aimed directly at Tesla Motors' (TSLA 3.90%) Model S.
In a conversation with Autocar, Audi CEO Rupert Stadler said the sedan would be one of three premium battery-electric vehicles in Audi's global product lineup by 2020.
How the upcoming electric Audis will compare to Teslas
Audi has already confirmed that its first "premium electric vehicle" will be an SUV that is set to go into production in the first half of 2018. Audi's "e-tron quattro concept" from last year's auto show in Frankfurt is thought to be a very close preview of that new SUV, which will probably be called the Q6 e-tron.
The platform underpinning that SUV will serve as the basis for the new sedan, according to Autocar. It's made mostly of aluminum, and it uses three electric motors -- one in front and a pair in the rear. Together, they will produce 429 horsepower in the SUV, Audi has said, with a "sport mode" that can temporarily lift the motors' output to almost 500 horsepower. Audi is promising a range of 500 kilometers (311 miles) or more on the European testing cycle, which probably translates to around 260 miles of range under the stricter U.S. standard. (But it's very possible the range of the production version will be higher than Audi has promised.)
That's well shy of the 700-plus horsepower put out by the top-performing versions of Tesla's Model S and Model X, but keep in mind that the specs Audi has announced probably apply to the base versions of its new electric vehicles. Audi won't hesitate to offer higher-performing versions (at higher prices, of course) if there's demand.
Audi will almost certainly have other features that help differentiate its electric vehicles from Tesla's offerings. For starters, the company will leverage its decades of experience with high-performing all-wheel-drive configurations. Speaking to Autocar, Audi research and development chief Stefan Knirsch promises "significant differences" in the driving experience in part because of the ways in which the electric Audis will send power to the individual wheels.
Audi also plans to offer wireless inductive charging, possibly as an extra-cost option, with an "autonomous parking function" that will automatically center the car over its charging plate.
The sedan might be Audi's future flagship
We can assume that much of what we know about the SUV will be true of the sedan. But the sedan might be positioned even higher in the lineup: Stadler told Autocar that the new electric Audi sedan will be positioned "as high up as possible, in the A8 segment."
The A8 is Audi's current flagship sedan. At one point, it was thought the company was working on an "A9," a longer, plusher sedan that would sit above the A8 in its lineup. It's possible the new electric Audi sedan will wear an "A9" badge -- and that it will be priced accordingly.
A new product category might be emerging: Big electric luxury sedans
It's an interesting idea. Battery-electric drivetrains would seem to offer exactly the kind of experience one would want in a huge, opulent luxury sedan -- namely, tremendous power potential with near-silent operation, without the social stigma attached to huge gas-guzzling limos.
Such a vehicle could find a ready market in China, where it's common for affluent executives to hire drivers to deal with the daily commute, and where zero-emissions vehicles are increasingly favored under regulations in China's smoggy cities.
Audi rival Daimler (MBGA.F 1.60%) is known to be developing four electric Mercedes-Benz models, and reports have suggested that a big sedan will be among them. It's possible we're seeing the emergence of a new product category: Huge, opulent luxury sedans powered entirely by batteries.
Such sedans won't sell in huge numbers globally, but they should be very profitable products and will help raise the image of electric cars around the world.
The upshot: Serious competition for Tesla is finally on the way
Electric-car advocates probably feel the industry is moving at a snail's pace, but that's how it goes in the auto business. Tesla has shown the industry that there's a market for well-thought-out "premium electric vehicles," and the industry is responding.
Audi's efforts are part of a larger push by corporate parent Volkswagen (VWAGY 3.64%) into electric cars at all tiers of the market. But Audi will probably be the first to directly compete with Tesla when its electric SUV launches in 2018. Whether it shines or falls on its face will tell us a lot about the industry's prospects for competing with the Silicon Valley upstart -- and vice-versa.


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COLLEGE STATION, Texas (KBTX) — From tech to apparel to home appliances, Americans are gearing up for bargains in what is expected to be the busiest holiday shopping season since the pandemic.
Venkatesh Shankar, director of research at Texas A&M’s Center for Retailing Studies, called this year a “mixed bag” when it comes to Black Friday shopping.
He says the positive is that retail spending for the Black Friday-Cyber Monday period is expected to be higher in terms of dollars spent, but on the downside there will be “spending crunch” due to the inflation and supply chain worries.
To find the best deals, Shankar recommends shoppers look both online and in person.
Last year, Cyber Monday overtook Black Friday as the busiest shopping day last year. Last year’s Cyber Monday saw nearly $11 billion in domestic sales, while nearly $10 billion was spent on Black Friday.
This year, online spending is expected to be higher again, but Shankar says more people are likely to come to stores than during the pandemic. While the weather may affect some Texans’ plans, the upside is that this year retailers are doing things a little differently.
” A good thing [shoppers] have going for them is that they are not limited to these two days Black Friday and Cyber Monday. They can shop the full four-day period and even beyond as more retailers extend deals into the Christmas holiday season,” Shankar said.
Copyright 2022 KBTX. All rights reserved.


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In particular, the official referred to Charles Collyns, former Assistant Secretary at the United States Treasury Department. According to Collyns, the Chinese economy will actively grow in the coming 10-20 years.
Recently, many Western media outlets published apocalyptic outlooks for the Chinese economy. In fact, the structure of the global economy is changing, making traditional advantages of the Chinese economic model irrelevant, an article in the Russian online newspaper Vzglyad read.
Beijing is revising its economic strategy to cut dependency on cheap workforce and foreign investment to build factories in China. The new model will focus on the domestic market and its enormous potential for growth.
"Despite all the hand-wringing over the vaunted China slowdown, the Chinese economy remains the single largest contributor to world GDP growth. For a global economy limping along at stall speed – and most likely unable to withstand a significant shock without toppling into renewed recession – that contribution is all the more important," economist Stephen Roach, a senior fellow at Yale University's Jackson Institute of Global Affairs, wrote in an article for Project Syndicate.
"There are the global impacts of a successful rebalancing of the Chinese economy. The world stands to benefit greatly if the components of China’s GDP continue to shift from manufacturing-led exports and investment to services and household consumption," according to the economist.
According to the 13th five-year plan (2016-2020), China’s annual GDP growth should reach over 6.5 percent and imports — $10 trillion.
The Chinese government is ready to accept a slight economic downturn in exchange for structural reforms in productivity and decreasing resource-intensiveness of the economy. As a result, many Chinese companies will stop working and growth will slow down.
As for the ownership structure, there are three main sectors in the Chinese economy, including private companies, companies controlled by regional authorities and state-owned conglomerates. A new economic model is breeding a conflict between Chinese regional elites and the central government. Beijing has pressured local authorities to close ineffective companies but faced opposition.
"Finally, there will be a compromise in this struggle. The question is the terms of this compromise," the article in Vzglyad read.
Economic optimization always means slowing growth. Plus the financial efficiency of the Chinese economy is not enough. If a large number of small and medium ineffective companies are shut down, this will lead to a drop in domestic production and an increase in unemployment rate.
In order to control the situation, the Chinese government is applying noneconomic and economic tools, including correcting the fiscal and monetary policy, a banking reform, improving pension, healthcare and environmental programs.
According to Goldman Sachs, China’s transition to a "new economy" is already giving results. The bank states that the types of goods and services exported by Beijing have changed significantly.
Moody’s upgraded the outlook for Chinese growth in 2016 and 2017 to 6.6 and 6.3 percent respectively.
"The slowdown and rebalancing of China's economy is likely to be gradual. Thus we do not expect China to exert a significant drag on global growth prospects over the rest of 2016 and in 2017," Madhavi Bokil, a senior analyst at Moody's, was quoted as saying by CNBC.
On Thursday, it was reported that China’s manufacturing sector expanded at its fastest pace in nearly two years in August. The official Purchasing Managers' Index (PMI) rose to 50.4 in August from 49.9 in July, and above the 50-point mark that separates growth from contraction on a monthly basis, according to Reuters.
Currently, in terms of GDP, China is the world’s second-largest economy. China is gradually turning into an innovative economy. The current five-year plan presumes large-scale Chinese investments abroad. Chinese investments in other countries are estimated at $1 trillion and are expected to add another $500 billion by 2020.
By the end of the 13th five-year plan, China’s GDP is expected to reach $14 trillion. China will be a lucrative market for global companies and create new possibilities for trade and cooperation, according to Vzglyad.
"All in all, despite all the focus on the US, Europe, or Japan, China continues to hold the trump card in today’s weakened global economy," Roach underscored.


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Articles by Bernie Pacyniak
Nielsen Co. includes two candy companies on its list of innovation winners. Why?
June 5, 2013
You’ve all heard the clichés regarding innovation: “Thinking out of the box,” “New products are the lifeblood of a company,” “Better to ask for forgiveness than permission,” and one of my favorites, “Unless you’re the lead dog, the view never changes.” But, hey, what does it take to be really innovative?Read More
Asia Pacific region continues to emerge as the global confectionery industry’s new growth engine.
May 31, 2013
Horace Greeley urged 19th century Americans to “Go West, young man." Today’s Greeley might sound like this, “Look East, confectioners!”Read More
The Warrell Corp’s president and coo has 'Kettle Chemistry'
May 22, 2013
Integrating science with successful business and operational skills has delineated Patrick Huffman’s confectionery career.Read More
Patrick Huffman, president and coo of the Warrell Corp., accepts award with style, grace
May 22, 2013
“And the recipient of the 68th Kettle Award is…” an educator, candy maker and just a classy guy.Read More
The International Sweets & Biscuits Fair (ISM) continues to act as a global confectionery clearinghouse, inspiring creativity, fostering connections and discouraging complacency.
May 1, 2013
Editor-in-Chief Bernie Pacyniak shares highlights and insight from this year’s 43rd International Sweets & Biscuits Fair.Read More
Editor-in-Chief Bernie Pacyniak salutes Michel Cluizel Chocolates’ partnership with Doctors of the world-USA
May 1, 2013
Confections have always been regarded as one of life’s little pleasures. But they taste so much better when they help ease someone’s pain.Read More
Hershey commits to front-of-pack labeling
April 17, 2013
During a recent family visit, my daughter remarked about how critical adhering to the KISS (Keep It Simple Stupid) principle made projects, well simpler.Read More
‘This is the closest we’ve come to actually reforming our domestic sugar program since I’ve been editor’
April 10, 2013
It is time for all candy makers to get off their duff and send “e-mails, voice mails and money” to Congress to get rid of our national sugar welfare program.Read More
Trying to figure out the difference can be as confusing as figuring out “Who’s on first.”
March 27, 2013
People, let’s get a grip. What’s needed here is much more consumer education about health, nutrition, diet and activity. Obesity isn’t a simple problem. And banning green from an informational nutrition label is — at best — a knee-jerk reaction to a complex issue.Read More
Founder Gianluca Franzoni begins a quest to rescue fine-flavored cacao from extinction
March 1, 2013
Enthralled by Venezuela’s cacao culture, Domori founder Gianluca Franzoni begins a quest to rescue fine-flavored cacao from extinction as well as bridge the gap between grower and chocolate maker.Read More


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Helvoet breaks ground on Indian packaging plant
Helvoet Pharma of Belgium has started officially started construction of a new production facility in India that is scheduled to begin operations in 2012.
The packaging component specialist – which mainly produces rubber and aluminium parts for parenteral medicines – first announced its intention to build the plant back in February as part of a strategy to expand into Asian markets.
Helvoet is investing around 14 million euros in the 36,000 sq.ft. plant in Pune, Maharashtra state, which will be used to make components for parenteral drugs and diagnostic agents and employ around 100 staff.
It is expected to have capacity to make a billion components in its first year, rising to four billion a year when it reaches full operations in 2014. At the moment Helvoet supplies around 10 billion components a year to customers from its current manufacturing plants in Belgium, Germany, Italy and the US, and has annual turnover in the region of 2 million euros.
India was a key location for the plant because of its position as the largest and most established source of quality generic and branded medicines throughout Asia and the rest of the world, commented Helvoet’s chief executive Guido Wallraff at a press conference to announce the start of construction.
“Our confidence in the Indian market is reflected in our long association with the country,” he commented. “Our engagement dates back to 1991 when we started collaboration in India for distribution of our products.”
India has the highest number of FDA approved plants outside the US and is expected to become a significant healthcare consumer market, said the firm.
With the new plant Helvoet will continue to gain ground on arch-rival West Pharma Services of the USA, which according to market estimates currently has the largest market share among parenteral component manufacturers.
In a world living in the shadow of substandard and falsified medicines, climate change and …
With debates heating up over cooperation between European across the continent, Matt Fellows investigates the …


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Energy Savings Trust publishes study revealing concerns that one in five white goods do not match up to their energy efficiency claims
Is your A++ washing machine really as green as the shop assistant told you it would be? And does that lightbulb truly last as long as the label suggests? Considering how few of us currently have smart...
MPs approve amendment to Climate Change Act with unanimous cheer of 'aye'
Industry-funded programme to develop 'globally competitive' UK supply chain and help support over 650 companies
Report suggests the world remains far off track to meeting the SDGs, with high income countries particularly failing to give budgetary backing to pledges
Company must pay back £123m to customers over 'shocking' failures at sewage treatment sites


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Patrons drink beer at a Maputo nightspot in Mozambique Photo: Corbis
Tapping into growth
By Eleanor Whitehead | Published: 15 November, 2011
Surging demand is fast turning Africa into a major growth region for the world’s biggest brewing companies
Africa is thirsty. Fuelled by a decade of economic growth, alcohol consumption on the continent is now as high as in the rest of the world. Ugandans and Nigerians consume twice the global average of alcohol per head. Yet much of what is drunk across the continent remains illicit – at $3bn, Africa’s illegal alcohol business is estimated to be worth significantly more than some of its economies.
Today, however, a combination of population growth and rising incomes are driving a rapid increase in the proportion of consumption of commercial drinks. In Tanzania, the World Health Organisation estimated in 1997 that 99.5 percent of total alcohol consumption was attributable to informal beverages, with the figure declining to 90 percent in 2000. Illegal drinks now account for 66 percent of Tanzania’s total intake, emerging markets investment bank Renaissance Capital says.
For brewers working on the continent, capturing value from consumers trading up the ladder is a huge opportunity. According to conservative estimates made by Renaissance in a recent report, beer volumes should grow at an annual rate of 9 percent between 2010 and 2015. “You can easily achieve high single digit to double digit growth in those markets, because you’re still not in a situation where even half of the alcohol market is commercial beer,” explains the group’s head of research for sub-Saharan Africa, Nothando Ndebele.
“The demographics are in our favour,” agrees Mark Bowman, managing director of SABMiller Africa. “You’ve got very low per capita consumption of beer and quite high per capita consumption of alcohol, so as GDP improves on a per capita basis there is a shift over time – informal and illicit alcohols are replaced by beer, which is highly aspirational in these markets, and the first step up from any informal alcohol. That’s a big opportunity for us.”
With strong growth, money is being poured into the region by Africa’s leading brewers. SABMiller, the world’s second biggest brewer by volume, has invested over $1bn in the continent in the last five years. The group recently lifted its medium-term financial targets for the region – raising revenue per hectolitre growth targets from 1-3 to 3-5 percent.
Competition has been heating up among the continent’s major players. This summer, Heineken bought two breweries – Bedele and Harar – from Ethiopia’s government for a combined $163m. In a clear indication of what an appealing market Africa’s second most populous nation represents, Diageo has since won an auction for the country’s third largest brewer – the state-owned Meta Abo brewery – with a bid of $225m.
Diageo has been busy elsewhere in East Africa this year, completing the purchase of Serengeti Breweries in Tanzania.
Across the continent, high alcohol consumption, a preference for beer, and a huge drinking population see Nigeria touted by analysts as Africa’s most exciting beer market. Here, SABMiller has sought to boost its number three position by investing $100m in the creation of a greenfield brewery in the south eastern city of Onitsha this year. Heineken has also purchased five Nigerian breweries from the local Sona Group for an undisclosed sum. Nigerian Breweries – which Heineken majority owns – has invested around $135m annually in the country over the last four years.


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The Deal Nike paid $305 million in September 2003 to acquire Converse, a scrappy sneaker brand going through growing pains. In the 1970s, as the official footwear of the N.B.A., Converse was flying high, but Nike and Reebok snapped up much of the market in the ’80s by adding gel and air soles to their shoes and signing up star endorsers like Michael Jordan. Converse’s annual revenue peaked in the late ’90s at $450 million but then sank fast. A group of private equity investors bought Converse for $117.5 million in April 2001, jump-started it by shedding retail operations and outsourcing labor to Asia, and then sold the reinvigorated brand.
The Aftermath Having designed sneakers for every type of high-end consumer, Nike now had an everyman’s shoe too. In 2005, Nike began letting customers design their own Converse All Stars online and, in 2006, tapped fashion designer John Varvatos to reimagine the shoe. Nike has also enlisted the Miami Heat’s Dwayne Wade to back Converse’s first line of athlete-endorsed apparel. And sketches by a legendary Converse fan, Nirvana singer and Gen-X icon Kurt Cobain, appeared this summer on limited-edition sneakers. The brand’s revenue rose to $550 million last year, from $205 million in 2002.
The Bottom Line Given Nike’s 42 percent share of America’s $18.3 billion athletic-shoe market, $550 million is a relatively tiny sum. But Converse was still a great purchase for Nike. Executives foresee a huge market in China, where Converse already has a footprint. Now Nike faces a quandary: how to keep grunge hero Cobain’s favorite sneaker from becoming too popular.
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DOW JONES NEWSWIRES
Mad Catz Interactive Inc. (MCZ) said its chairman, Geofry Myers, has died.
The Toronto video and computer game company said Wednesday that Myers' death reduces the size of its board on an interim basis to five members, including four independent members.
Mad Catz said Myers served as a company director since September 2005 and was named chairman in June 2006. He had previously worked as a corporate and securities attorney and senior partner at the law firm Lang Michener LLP.
-Shara Tibken; 201-938-5400; AskNewswires@dowjones.com


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“We are delighted to team up with Zavvi,” says Mathieu Galante, licensing director, EMEA, The Pokémon Company International. “As the home of pop culture, they are an ideal partner as we continue to expand ‘Pokémon’ fashion into the online space. This stylish and distinctive new collection further builds Pokémon’s status as a real fashion favorite with a widespread and enduring appeal.”
After launching new title “The Crown Tundra,” the second expansion for Sword & Shield and the extension of trading card game “Pokémon” Sword and “Pokémon” Shield – Vivid Voltage, The Pokémon International Company is celebrating 25 years by building on its existing capsule collections with H&M, Zara, Bershka, Uniqlo, Adidas, Original Stitch and more.
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Sometimes its a hypothesis bias, and that's what I am tempted to attribute this one to. It seems financial slowdown's the reason why there's a spurt in the sale of anti-depressant drugs in the financial capital of India, Mumbai.
ET reports that Mumbai has recorded a 30% growth in the sale of anti-depressant medicines in the 12-month period ended August. This is much more than the 8% growth in the national market which is estimated at Rs 464 crore. Even in the month of August, when the sales of the anti-depressant segment dropped from Rs 41 crore in July to Rs 40 crore nationally, Mumbai was the only city which posted an 18% growth in sales of the drug. It grew from Rs 2.2 crore in July to Rs 2.6 crore in August.