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Shopkeepers hope for a boost in trade as rent day looms
Britain's High Street is praying for a good weekend's trading as shops scramble to gather cash to pay rent due next week.
Retailers on the edge could be forced out of business in the next few days if they can't afford to pay quarterly rent on Wednesday.
Mass shop closures are possible if strife in the sector is as bad as industry experts fear.
Deadline day is 25 March for the payment of quarterly rent, which most stores have to deliver upfront.
This is the kind of scene shopkeepers would love to see before rent is due
Even in the good times this puts a huge strain on cashflow; during a recession it is a condition that forces many shops to close.
It is likely to become clear on Wednesday that many businesses are unable to pay this rent and have potentially been trading while insolvent during the last quarter, say lawyers Wedlake Bell.
Some directors of retail businesses could even be pursued for wrongful trading, which could leave them personally liable for some of their businesses' losses. Debts to suppliers can be huge in the retail sector.
Shopkeepers probably feared for their future at the end of last year, but continued trading with the hope that business would improve, says the City law firm.
Edward Starling, head of Wedlake Bell's Rescue and Restructuring Group, says: 'With consumer spending taking a nosedive during the past few months, it has become obvious that wishful and possibly naive thinking has not translated into reality for many businesses.'
Leading retailers, including Sir Philip Green, have lately been pressing landlords to accept rent on a monthly basis.
Hardware retailer Robert Dyas is desperately seeking rent reductions from its property overlords.
Says Starling: 'Landlords are ultimately going to be thinking pragmatically about the situation.
'With no evidence of the recession going away anytime soon, good new tenants will be harder to come by so they may be forced to accept less than ideal rent payment arrangements.'
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Despite the fact 5G is already well on its way thanks to Samsung's announcement today, Virgin today added 4G prepaid and postpaid services for metropolitan customers.
Customers will now be able can access “seriously quick” 4G Internet from any 4G-ready Mobile Broadband device on the $59 plan with 13GB included data. Virgin Mobile customers have the option to BYO their own 4G device or purchase the Huawei E5776 WiFi modem on a 12-month plan, available from Virgin Mobile.
The prices are similar to Optus' offering of a WiFi modem and 10GB included data for $49.95, but far less than Telstra which is offering 15GB of data for a costly $95 per month.
Check out the available plans for yourself at Virgin's site here.

domain: news


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HAL1000 Posted September 5, 2022 Share Posted September 5, 2022 (edited) Bank of Russia agrees to legalize crypto for cross-border payments The Bank of Russia, the country’s central bank, has reportedly admitted that cross-border payments in crypto are inevitable in the current geopolitical conditions. The Russian central bank has been rethinking the approach to regulating crypto and agreed with the finance ministry to legalize crypto for cross-border payments, the local news agency TASS reported on Monday. Deputy finance minister Alexei Moiseev reportedly said that the Bank of Russia and the finance ministry expect to legitimize cross-border payments in crypto soon. At the Bangkok Fintech Fair of 2018, Sagar Sarbhai from Ripple stated that Ripple are working closely with 40 to 50 central banks Edited September 6, 2022 by HAL1000 woodman_73 and RobertHarpool 2 Link to comment Share on other sites More sharing options...
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First Mercantile Trust Co. Takes Position in Skechers U.S.A., Inc. (SKX)
First Mercantile Trust Co. acquired a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the second quarter, Holdings Channel reports. The fund acquired 19,026 shares of the textile maker’s stock, valued at approximately $561,000.
Other hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Skechers U.S.A. by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 46,672 shares of the textile maker’s stock valued at $1,281,000 after buying an additional 600 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Skechers U.S.A. by 2.0% in the first quarter. IFP Advisors Inc now owns 7,409 shares of the textile maker’s stock valued at $203,000 after buying an additional 147 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Skechers U.S.A. by 143.6% in the first quarter. Russell Investments Group Ltd. now owns 181,142 shares of the textile maker’s stock valued at $4,973,000 after buying an additional 106,780 shares during the last quarter. Amerigo Asset Management boosted its stake in shares of Skechers U.S.A. by 28.5% in the first quarter. Amerigo Asset Management now owns 4,440,000 shares of the textile maker’s stock valued at $121,878,000 after buying an additional 984,929 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Skechers U.S.A. by 725.4% in the first quarter. Janney Montgomery Scott LLC now owns 121,019 shares of the textile maker’s stock valued at $3,322,000 after buying an additional 106,357 shares during the last quarter. Institutional investors and hedge funds own 67.86% of the company’s stock.
Shares of Skechers U.S.A., Inc. (NYSE SKX) opened at 28.72 on Tuesday. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 19.92 and a beta of 0.18. Skechers U.S.A., Inc. has a one year low of $18.81 and a one year high of $30.00. The company has a 50-day moving average of $28.60 and a 200 day moving average of $26.53.
Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.06. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $966.46 million. During the same period last year, the business posted $0.48 EPS. Skechers U.S.A.’s revenue was up 16.9% compared to the same quarter last year. On average, equities analysts forecast that Skechers U.S.A., Inc. will post $1.57 earnings per share for the current fiscal year.
WARNING: This piece was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://www.watchlistnews.com/first-mercantile-trust-co-takes-position-in-skechers-u-s-a-inc-skx/1489724.html.
Several research firms have recently weighed in on SKX. Vetr lowered shares of Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 target price for the company. in a report on Tuesday, July 25th. BidaskClub raised shares of Skechers U.S.A. from a “sell” rating to a “hold” rating in a report on Saturday. Cowen and Company set a $35.00 target price on shares of Skechers U.S.A. and gave the company a “buy” rating in a report on Monday. OTR Global raised shares of Skechers U.S.A. from a “mixed” rating to a “positive” rating in a report on Tuesday, July 18th. Finally, Zacks Investment Research lowered shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Skechers U.S.A. currently has an average rating of “Buy” and an average price target of $31.10.
In other Skechers U.S.A. news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $28.38, for a total value of $42,570.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $567,600. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 38.20% of the stock is currently owned by company insiders.
About Skechers U.S.A.
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
Want to see what other hedge funds are holding SKX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skechers U.S.A., Inc. (NYSE:SKX).
Receive News & Ratings for Skechers U.S.A. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers U.S.A. Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.


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A new poll
for the Retail Council of Canada has found that the average Canadian family plans to spend about $75 to prepare for this year's Halloween. The poll found that the more people there are in a family, the greater the propensity to spend more.
The Harris/Decima poll
asked 1004 Canadians about their Halloween spending habits and discovered that while a single-person household plans to shell-out an average of $24, larger households with four-or-more people expect their bill to be around $75 for the spooky holiday. Half of those asked say they plan to spend between 75% to 100% of their budget on candy.
also found that Canadians between the ages of 18 to 24 are the most likely to spend more this year over last.
Quebecers seem to get into the spirit of the season the most, apparently willing to spend more on their costumes and more on decorating their homes. Though few people are likely to spend as much as a family in Riverside, California that puts on an annual light show that has become a YouTube hit.
Retail Council President Diane Brisebois says
, "Halloween is a big event in many households for both adults and children, parents dress up their kids, their houses, their pumpkins and their pets and allow their kids to go candy crazy for a few hours. But it's not just parents - Halloween is the time of year when adults have their own dress-up parties. Retailers know this is a highly anticipated holiday for many and are busy keeping shelves stocked with items for consumers of all ages."
The poll has a margin of error of +/-3.1 percentage points 19 times out of 20.


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Innovation World 2015 Highlights
Blog: Software AG Blog - Reality Check
“Our mission is to help you innovate, differentiate, and win in the digital world.”
With more than 1,000 attendees, 200 partners, and 36 countries represented at Innovation World 2015, CCO Eric Duffaut’s closing message was clear: the new Software AG is focused on co-innovation.
This year’s event was filled to the brim with announcements, partnerships, and new technology. Attendees had the chance to mingle with industry partners and executives, and share their experiences of bringing business and IT together in the face of digitization. But that’s just the beginning.
The theme for this year was clearly co-innovation, as we saw across track sessions and use case presentations. Maersk Drilling highlighted how they implement Aris differently, to help answer the ‘what if’s.’ Coach discussed the use of Alfabet to support their goal of quality revenue growth. Amazon Web Services encouraged listeners to build failure-tolerant applications and models.
That’s not all, either. Perhaps the biggest splash around co-innovation at IW was the revealing of the Digital Marketplace. This content-rich web-based hub was designed to help customers quickly adapt and respond to the digitization of the global economy. It is a host for IT development components, including solutions developed by our own partners and customers. And on launch day, the hub already boasted 102 unique assets – a number which is quickly growing, and will help to support co-innovation across the industry. Eric Duffaut explains this exciting venture, here.
2. Innovation Award Winners
There was a common denominator around the Innovation Award winners this year, and it is a simple one: customer-centricity. Each winning company showcased a fresh way to use Software AG technology to support their number one asset: customers. Each winner leveraged the Digital Business Platform to bring sustainable value to its business, from IT to retail. These awards are a part of the co-innovation platform, and we congratulate this year’s winners!
3. Welcome Reception
Monday evening’s Welcome Reception marked the opening of the Innovation Showcase. The hall featured booths from event sponsors and partners, all revealing their innovative use cases for digitization. This was truly a melding of the minds – with an open bar, of course!
4. Deloitte Tech Trends
On day two, attendees gave a roaring welcome to Michelle Shuttleworth, Director at Deloitte. Ms. Shuttleworth presented Deloitte’s eight tech trends driving the fusion of business and IT. The trends, ranging from software-defined everything to ambient computing, were bookended by two things: the CIO, and the IT worker of the future.
This lead to her call for putting role models in leadership positions, and focusing on today’s education to fulfill the 1 million programmer jobs that will be unfilled in 2020. The fusion of business and IT cannot be complete without the reformed position of the CIO, and a focus on tomorrow’s IT workers.
These of course were not the only highlights of this year’s show. ARIS Mobile was announced, the AWS Roadshow stopped through to talk cloud integration, and customers met to share their digital use cases with attendees. There was even a pool party event – but some of the things that happened in Vegas, must stay in Vegas, as they say!
Thank you to all of those who made Innovation World 2015 possible – and beyond that, a success. Next year’s event will be held in San Francisco, from November 7-9. We hope to see you there!
The post Innovation World 2015 Highlights appeared first on Reality Check.
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text: McDonald's Corp. in July entered into a partnership with Wanda Group to open drive-through-equipped locations in shopping malls and strip centers in China. The two firms will open 120 units during the next two years. McDonald's in June signed a similar deal with Chinese oil giant Sinopec. Sinopec operates 30,000 gas stations throughout China. McDonald's is aiming to add about 100 stores a year in the nation. It currently has 750 locations. McDonald's is facing tough competition in China from KFC, which operates 1,900 outlets throughout the country.


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1047 Games Seeking to Change Wormhole Wars Official Name; Suggestions Now Open
After a recent playtest concluded 1047 Games is seeking to change the official name of their upcoming title Wormhole Wars and are now accepting suggestions.
Today, indie studio 1047 Games announced via Discord that it is officially looking to rebrand its upcoming shooter Wormhole Wars by changing the game’s name.
According to the founders, this decision was made after a recently closed alpha test was held this past weekend. Those who partciapted in the alpha were asked to take a survey, contained in the survey was a series of questions regarding the game overall, towards the end of the survey, players were asked whether or not they liked the name “Wormhole Wars.”
The developer also confirmed that while there are always potential name change ideas found within the game’s Discord server, those ideas tend to get lost in all the chatter. That being said, those interested in helping the team pick a new name for the game can do so in one or two ways: the first option is to comment your name change idea on the new subreddit, which was opened today. Or by joining the community Discord server and throwing your suggestion in the #name-discussion channel.
The developer also revealed in the announcement two rules for those looking to pitch a new name for the forthcoming title; the proposed title cannot contain the word “portal” nor can it contain any inappropriate language.
For those of you unaware of what I am talking about, Wormhole Wars is an upcoming multiplayer shooter developed and published by 1047 Games. Set in a science-fiction universe, Wormhole Wars gameplay features the strategic elements of portals mixed with the explosive gameplay found in the first-person shooter genre; a Halo meets Portal if you will.
Currently, Wormhole Wars is still in its development stages with an official release date still yet to be confirmed. However, 1047 Games does frequent playtests on Steam (with another one being announced very soon). If you are interested, you can learn more by heading to the game’s official Discord.


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HP has put technology-hungry Australia on the back burner for its iPad-challenger the TouchPad, which will hit stores in the US on July 1.
The computer giant will only initially release the 16 GB and 32 GB Wi-Fi versions of the device, as previously promised for US$499 and US$599 respectively.
It expected to provide more information on the 3G-supported version at some stage in the northern hemisphere’s summer.
While Europe and Canada will be delivered the TouchPad by mid-July, HP said it would provide details for Australia, New Zealand, Hong Kong and Singapore “at a later date”.
The staggered launch will be the first opportunity for customers to judge HP’s prized webOS 3.0, which it hopes will offer a better shot at toppling the iPad than existing rivals.
"What makes HP TouchPad a compelling alternative to competing products is webOS," said Jon Rubinstein, senior vice president and general manager, Palm Global Business Unit, HP.
Samsung, Acer, RIM and Motorola had recently cut production of their tablet devices fearing a potential oversupply, because consumers had shown little interest in anything but Apple’s iPad.


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Canada: Opportunities in Cannabis
Grow a successful business in the emerging marijuana market.
The federal government introduced the Cannabis Act (Bill C-45) on April 13, 2017, to legalize and regulate the production, distribution, sale and possession of cannabis in Canada.
If the Cannabis Act is passed, adults will be able to legally possess and use cannabis subject to the legislated restrictions.
Although legislation is yet to be enacted, details of the bill do shed some light on the road ahead for the entrepreneurs who have recently entered or are thinking of entering the untapped cannabis market.
Read More at Business Vancouver


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- Your Consultant
- Green Growth
|The launching ceremony of the four Vsmart devices|
At the launching ceremony yesterday (December 14), VinSmart announced the price of its four Vsmart phones, the Joy 1, Joy 1+, Active 1, and Active 1+.
Of these, low-end smartphone Vsmart Joy 1 runs on a Snapdragon 435, with 3GB of RAM, 32GB of memory, and a 5.5 inch screen and will cost VND2,490,000 ($108.2). The larger model Vsmart Joy 1+ (Snapdragon 430, 3GB RAM, 32GB memory, 6.2 inch screen) will be a tad more expensive at VND3,390,000 ($147.4).
Meanwhile, in the mid-end segment, Vsmart Active 1 with Snapdragon 660, 4GB RAM, 64GB ROM, and a 5.5 inch screen will be sold for VND4,990,000 ($217) and Vsmart Active 1+ with 6.2 inch edge-to-edge screen, Snapdragon 660, 6GB RAM, and 64GB ROM will be sold for VND6,290,000 ($273.5). All devices offer two SIM slots.
|The four Vsmart phones will be sold over the world|
In the next phase, these smartphones will be sold at VND2,590,000 ($112.6) for Vsmart Joy 1, VND3,590,000 ($156) for Vsmart Joy 1+, VND5,290,000 ($230) for Vsmart Active 1, and VND6,590,000 ($286.5) for Vsmart Active 1+.
According to CEO VinSmart Tran Minh Trung, Vsmart will not only be sold in Vietnam, but also over the world. At the beginning, they will be sold in five overseas markets, including Russia and Spain. All smart devices of VinSmart will be displayed on online sales websites over the world.
|Tran Minh Trung, CEO of VinSmart, speaking at the launching ceremony|
Moreover, in 2019, Vsmart will continue expanding to other segments. The company’s representative disclosed that they are working on launching Vsmart Star in the low-end segment, Vsmart Live in the higher-mid-end segment, Vsmart Lux in the high-end segment, and Vsmart Super Lux in the super-high-end segment (Lux is also the name of a VinFast car model that was launched just last month).
Vinsmart said that the business is researching new technology, such as fingerprint sensors, facial recognition, and even security operating system, to equip on the next Vsmart models.


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It’s unlikely that Nadia Shouraboura’s fellow PhD candidates at Princeton would have imagined her moving on to a role where she’d be receiving photos from a man wearing an outfit made entirely of twist ties.
His reason for such an uncanny display? Nothing sinister, just an offbeat way to express his irritation struggling with the coated, metal wires on packages he’d ordered through Amazon, where Shouraboura serves as technology vice president of worldwide operations. The photo was one among many that have informed Frustration-Free Packaging - a global initiative led by Shouraboura to make it easier for customers to liberate products from their packages and combat “wrap rage.”
The program is the most public-facing of Shouraboura’s responsibilities. She manages the technology that powers the online retailer’s global supply chain and fulfillment efforts-where she brings more than 20 years of heavy-hitting technology experience to bear.
Born in Soviet Russia, Shouraboura started out as a software developer for industrial robotics in Israel, where her work caught the attention of professors at Princeton. Offered a full scholarship for study and research, Shouraboura earned a PhD in mathematics and then signed on with a series of companies - from JP Morgan-backed startups to Fortune 500 companies - to blaze new territory in technology, mobile connectivity and energy trading (where she’s considered a pioneer).
In 2004, Shouraboura joined Amazon - another company known for its technology innovations - and began applying her finely-honed technical skills to very human realities: simply put, her charge is to delight Amazon customers with the right packaging experience for every order.
The initiative itself first took shape back in 2007, when Amazon colleagues were catching up after the Christmas holiday and company founder Jeff Bezos came in with stories of how he spent Christmas morning in agony opening gifts and toys for his children.
“That feeling resonated with almost everybody in the room,” says Shouraboura. “I distinctly remember that moment.” It was such a simple idea, she says, that, “we just decided to do something about it.”
Shouraboura launched a dedicated team to go after the problem. With their own gift-opening experiences as the foundation, they approached manufacturers like Mattel, Fisher Price and Microsoft and targeted 19 best-selling items for a revamp. Those products debuted in November 2008 in packaging devoid of the plastic clamshells and coated wire ties commonly cited as the source of frustration among colleagues.
Then, thinking that customers might add to the conversation, Shouraboura’s team invited consumers to share their packaging experiences. And they stumbled on a goldmine. “There was amazing feedback,” says Shouraboura. She spent hours pouring over the comments and the images that frequently accompanied them. Many were creative, like “twist-tie man” and those who mockingly sent images of giant package-busting scissors and chainsaws. One customer, who had actually ordered scissors from Amazon, asked whether he needed to order another pair to free the original product from its protective armor.
“Out of great customer feedback-and out of their jokes-we made a direction for the program,” Shouraboura says. “We followed the voice of the customer.”
Of course, Amazon is in a unique position to listen to its customers, but, with Shouraboura’s help, the company has been working with manufacturers to bring about significant change. In November 2009, the program boosted the number of Frustration-Free items by launching a certification element-where Amazon engineers analyze a company’s package and either certify it or recommend changes-that makes it easier for manufacturers to take part.
“A lot of people are passionate about [the program] across Amazon. It spans our customers, our manufacturers, our partners, as well as many teams within Amazon-from our buyers to our transportation team to our fulfillment center-everybody.”
And, these days, the 15,000 distinct items certified as frustration-free go beyond easy-to-open packaging lacking clamshells and twist ties (blister packs are a no-no too). There’s now an environmental element: Frustration-Free items are closely matched with right-sized boxes, which are recyclable, serve as the primary shipping container and contain less packaging material overall.
“The focus has always been on making the customer experience better, but what we learned over time is that the customer experience is much better if we make it really simple for our customers to get rid of the packaging,” says Shouraboura. “It puts a burden on customers if they have to dispose of all that.”
There are likely other similarly valuable insights among the six million packages that Shouraboura reports have been rated year to date. And while some would consider that figure-and the 15,000 distinct frustration-free items-a success, she clearly has greater ambitions. “We have a ways to go,” Shouraboura says. “We’ll be done when every item we ship comes frustration free.”


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Internet service providers iiNet and Internode will compensate more than 11,000 Aussies after they failed to deliver advertised NBN speeds.
Both providers promised customers download speeds of up to 100 Mbps, but an investigation by Australia's consumer watchdog discovered no customers received speeds they paid for.
More than 8,000 iiNet customers will be compensated and more than 3,000 Internode customers will be offered a remedy.
ACCC Commissioner Sarah Court said the internet providers had engaged in deceptive conduct by failing to deliver advertised internet speeds.
"iiNet and Internode have admitted that between 2015 and mid-2017, they both likely engaged in misleading or deceptive conduct or made false or misleading representations by promoting and offering NBN plans with maximum speeds that could not be delivered," Court said.
"Internet service providers must provide accurate information to customers about the speeds they can access on the NBN.
"Many customers could not reach the maximum speeds advertised by iiNet and Internode because their NBN connection was not capable of delivering it. Some customers couldn’t even receive the maximum limit of lower speed plans."
More than 7,600 iiNet customers who paid for speeds of up to 100 Mbps weren't receiving the advertised speed, with nearly 2,000 of those customers not even receiving speeds of 50 Mbps.
More than 1,700 customers on an Internode 100 Mbps NBN plan could not receive the speeds they purchased. Of those 1,720 customers, 479 could not even receive 50 Mbps.
Affected customers will be contacted by iiNet or Internode by April 27, and will be offered a range of options from moving to a lower speed plan with a refund to exiting their current plan without cost.
Court urges affected customers to check with their providers that they are receiving the speeds they're paying for.
"iiNet and Internode customers should carefully review any email or letter from their provider and choose a remedy as quickly as possible. The options available to each customer depends on their plan, but many can move to a lower speed plan and receive a refund, or exit their plan without cost," said Court."Fixing misleading claims about internet speeds during the transition to the NBN is an enforcement priority for the ACCC and we strongly urge other providers to act quickly to ensure their advertising is accurate."


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All the profits agency has came up with workplace for Commissioner GST (Investigation) to make sure you transaction only having enforcement difficulties including hunt, ictus and additionally court, as it looks to make sure you crackdown on tax evaders.At the start, the government seemed to be heading time-consuming concerning enforcement motions to allow time for you to that is a to adjust to these new tax regime.
By means of the vast majority of get rid of closes tangled up for the purpose of Services and Services Tax (GST), these profits agency has opted to focus on enforcement by using a view to make sure you the coast away gross income by means of checking tax evasion.Per these training issued by Key Enter for Indirect Taxes and additionally Customs (CBIC), Commissioner GST (Investigation) are going to transaction only having plan difficulties and additionally legislative is important, involving enforcement attribute such as, hunt, ictus, court, pursuance and additionally compounding under GST Act, Expunge Respond and additionally is important in relation to Service plan Tax.
Commissioner (Investigation) will in addition check the work for Directorate Typical of GST Intelligence (DGGSTI) and GST field formations throughout in relation to analysis for incidents, hunt and additionally ictus operations concerning is searching, arrests etc.Neeraj Prasad happens to be equiped the primary Commissioner at the office for GST-Investigation.All the commissioner will in addition fit having DGGSTI and additionally Direcorate Typical for Analytics and additionally Dangers Operations (DGARM) throughout analysing and additionally analyzing intelligence operation for the field formations.
It can take action being nodal agency with respect to inter-departmental sychronisation in relation to analysis and additionally enforcement bureaus and additionally actions studies to and additionally check modus operandi for evasion.AMRG & Participants Lover Rajat Mohan talked about: "Design of latest put up with respect to Commissioner (GST- Investigation) indicates that governing is definitely sincere concerning weeding out tax evaders and additionally on this completely new generation they can be aiming and additionally strengthening 1 acceptance with respect to the quick reply concerning is important linked to enforcement attribute most definitely hunt, ictus, court, pursuance and additionally compounding ".
Services and Services Tax (GST), which unfortunately subsumed across endless weeks of frustration nearest tax returns, seemed to be explained out on June 1, 2017. The costa rica government has fixed an important objective to build up Urs 1 lakh crore reoccurring gross income from GST this fiscal, but yet that clean up has lowered quick of the objective four weeks subsequent to month.Truly the only exemption seemed to be these four weeks for 04 where the figures realized Urs 1 lakh crore. All the choices stood within Urs 94,016 crore throughout May perhaps, Urs 95,610 crore throughout 06, Urs 96,483 crore throughout June and additionally Urs 93,960 crore throughout August.
Lakshmikumaran & Sridharan Lover Litre Badri Narayanan talked about we will see a certain shove with respect to enforcement and additionally analysis along with potential putting together to deal with evasion throughout buying and selling of goods put up imports.
The directorate general of merchandise and enterprises charge knowledge (DGGSTI) has uncovered an extortion worth an astounding Rs 1,000 crore in the state
Cancel proficient expense, bring plans to resuscitate little businesses, alter the plan to make sustenance
The Institute of Cost Accountants of India (ICAI) is good to go to prepare around one lakh understudies on the destined to-be propelled Goods and Services Tax (GST) Accountants course.
In one of the greatest GST trick cases identified since its presentation, experts in Chennai
Content with the break spending plan reported on February 1, the industry is presently sticking its expectations
With an undeniable eye on the up and coming Lok Sabha money
The National Anti-profiteering Authority has found that the Jubilant FoodWorks, the franchise owner of Domino’s Pizza in India guilty of not passing
Shortfall in GST income of an expected Rs 1 lakh crore has constrained the administration to reconsider
GST accumulations in January rose to Rs 1.02 lakh crore - the second most astounding month to month wipe up after April, the back service said Saturday
Association Finance Minister Piyush Goyal's financial plan has proposed tax reductions for the working class and sops for ranchers &


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The Nigeria Agricultural Quarantine Service (NAQS) has said that an agreement has been reached between Nigeria and Mexico on the use of methyl bromide in pre-shipment preservation for quality and standardization of the hibiscus flower. This came after over two and a half years of banning Nigeria from exporting hibiscus flower to Mexico.
Speaking during a stakeholders meeting held in Kano State, NAQS Director General, Dr. Vincent Isegbe, said, “as a supervisory agency, I want to state here that we have reached an agreement with Mexico which consumes over 85% of hibiscus flower produced in Nigeria, and we have agreed with the Mexican authorities on exportation processes that need to be complied with to ensure quality and standard of our product. “I want to also make it clear that we have not selected any exporter in preference to another as insinuated, we have done all it takes to see that exportation of hibiscus flower has resumed. However, it is equally very important to note that Nigeria is not the only country that has approved the use of methyl bromide for pre-shipment storage. With the cooperation of major players along the value chain of hibiscus flower production, we have completed all arrangements to resume exportation to Mexico”. Similarly, National President, Hibiscus Exporters Association of Nigeria, Mr. Olatunji Lawal, said Nigeria lost a lot of revenue as a result of the ban.
News Credit: Daily Trust


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Although many expected Nokia Mobile to announce new devices for the American market at CES2023, that didn’t happen. Nokia Mobile was there, but in a strange part of the congress which is not set for showing up new devices. A rugged X30 was expected but the plans have shifted, most likely for MWC2023 or even sooner. Thanks to the EUIPO page, five new designs of Nokia phones have been protected so at least five new Nokia phones are expected. However, what will be coming is unknown.
The recent FCC certificates might shed some light on the soon-to-be-announced devices. One of them could be Nokia TA-1515 which just got certified. According to the basic specs and diagrams, an entry-level device can be expected.
The device has most likely a removable back cover based on the pins seen in the antenna location diagram. The rest of the specs shared reveal that it will be coming with support for all the networks and WiFi frequencies.
I really expected to see the Nokia Sentry, or the rugged version of X30, maybe the successor of the XR20. However, we’ll have to wait a bit more, as usual.


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The price to get into "The Happiest Place on Earth" is going up again. Starting Sunday, both a one-day or year's pass will cost you more.
On Value days, the lowest priced days of the year, tickets will now cost $97 to go to one of the parks. That's up $2.
Regular admission will will run $110, up $5.
Parking fees are also going up from $18 to $20.
The Orange County Register reports that since 2000, single-day admission prices to the park have nearly tripled, with ticket prices going up every year since 2002.
Annual passes are going up, too. The Southern California Select pass will be $339 and the Southern California pass will be $469 -- both $10 increases.


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Take-Two Officially Takes Over WWE License
Ryan Bloom / Feb 14th, 2013 No Comments
Take-Two has officially agreed to assume control of the WWE license previously held by THQ, according to documents filed in court.
As part of the agreement, Take-Two will take over publishing duties for all future WWE video games while Yuke’s will remain the developer.
All prior contracts between THQ, WWE and Yuke’s are now terminated under the agreement. WWE and Yuke’s will now enter new deals with Take-Two. In exchange, WWE agreed to waive an early termination payment clause in the contract with THQ that would pay the wrestling company $45 million.
[adsense250itp]THQ will stop selling past WWE games and pay $650,000 in royalties to the wrestling organization for games sold since the company entered bankruptcy protection in December.
Yuke’s has been making licensed wrestling games since 2000. THQ owned a 14 percent stake in the studio. Yuke’s will be awarded $4.5 million to buy out that stake along with a $250,000 royalty payment.
The studio also agreed to dissolve a claim against THQ for payment on last year’s WWE game and this year’s in-development title. The claim was for $15 million to $20 million.
Take-Two is expected to hire former THQ staff who worked on WWE games. The company is in line to receive development equipment and software related to WWE titles worth $75,000 from THQ.
The deal between THQ and WWE was scheduled to run through 2017. It is unclear if the new agreement with Take-Two is for the same time period. Also unclear is if the change in publisher will allow for a new WWE game to be released this year.
It was first known that Take-Two, the parent company of 2K Sports, acquired the WWE license when THQ assets were sold off last month. The court filings make the deal official, pending court approval. Monetary terms of the deal were not disclosed.
tags: news , take two , thq , wwe , wwe 13 , yukes


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While early rumours flagged the upcoming Final Fantasy 16 as a timed PS5 exclusive which would land on PC six months after console release, Square Enix is now shooting down those hopes. According to game producer Naoki Yoshida, a PC version of Final Fantasy 16 is coming eventually – but it will not be ‘soon’.
‘I’ve caused a bit of a stir with my remarks the other day, but I’d like to touch on the PC version,’ Yoshida said in a new PlayStation Blog, per rough Google Translate. ‘First of all, it is true that Final Fantasy 16 is a six-month limited-time exclusive on PS5. However, it is a completely different story that the PC version will be released in half a year.’
‘I will make it clear, but the PC version will not come out in half a year.’
Currently, the Square Enix development team on Final Fantasy 16 is concentrating solely on the PS5 version of the game. Once this process has been completed, only then will work on a PC version potentially begin.
‘We spent a lot of time and money optimising the PS5 platform to deliver the best gaming experience,’ Yoshida said. ‘Of course, I would like to release a PC version at some point, so that everyone can play as many games as possible.’
‘However, even if we start optimising the PC version after the PS5 version comes out, we won’t be able to optimise it in half a year, so it won’t come out in a short span of half a year. I would like to release it eventually and I think I will, but I am not at the stage where I can say when.’
Notably, Yoshida did seem to acknowledge that a PC version exists in some form, after previously questioning why fans were excited about a non-existent port. For now, it appears to be a distant idea – but the better news is that Yoshida and his team are heavily considering the opportunities presented by a PC version of FF16. Those who want to play the adventure and don’t currently own a PS5 are likely in for a long wait for more news, but there does now seem to be hope on the horizon.
Final Fantasy 16 launches exclusively for PlayStation 5 on 22 June 2023.
GamesHub has affiliate partnerships. These do not influence editorial content. GamesHub may earn a small percentage of commission for products purchased via affiliate links.


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Issues are stacking up for Europe’s hottest sector.
A warning from the chairman of Cartier-owner Richemont that cussed inflation was beginning to have an effect on demand in Europe prompted a swoon in luxury stocks final week. That downbeat message added to a string of worrying financial indicators from China and indicators of softer traits in the US.
It’s all testing buyers’ religion on this expensive sector and elevating questions on the theory that luxury stocks are Europe’s strongest response to Wall Road’s high-flying tech stocks. Some $180 billion has already been worn out since a latest peak in July, leaving good points for the 12 months hanging by a thread. LVMH accounted for about 60% of that droop alone and the maker of Louis Vuitton baggage bought overtaken by drugmaker Novo Nordisk A/S as Europe’s largest firm in the course of.
A stuttering restoration in China, the supply of as a lot as a fifth of European luxury retailers’ gross sales, has dealt the largest blow to the sector. However the malaise has unfold to the high-end buying districts of Paris, Madrid and London. “In Europe, ongoing inflation is beginning to impression native demand,” Rupert informed Richemont shareholders at its annual assembly in Geneva on Wednesday.
“What we are seeing on luxury is the finish of a consensual ‘lengthy,’” mentioned Gilles Guibout, a portfolio supervisor at Axa Funding Managers in Paris, referring to a rush by buyers towards this sector in the first half of the 12 months. “Europe is usually very delicate to world development and this is hurting luxury as there is proof of a slowdown.”
Guibout has an underweight place on luxury and doesn’t plan to purchase the stocks till an extra pullback makes them extra engaging.
The newest survey of China’s companies industries revealed extra unfavourable knowledge for luxury names, with the slowest growth this 12 months in August. That implies the nation’s customers aren’t optimistic about their future revenue due to the faltering economic system and are tending to save fairly than spend.
And hovering bond yields have proved bruising for a bunch of firms which, like expertise companies, depends closely on capital for growth and advantages from low rates of interest. Benchmark US Treasury yields hit the highest degree since 2007 in August, dealing an extra blow to sentiment on the stocks.
LVMH CEO Bernard Arnault’s standing as the world’s wealthiest particular person has been a high-profile casualty of the 15% droop in an MSCI Inc. index of luxury stocks since mid-July. Arnault’s wealth has dropped from an all-time excessive of $212.4 billion to $170.4 billion as of Sept. 7. Nonetheless, the French businessman has continued a historical past of buying shares in LVMH, shopping for about €215 million ($230 million) price of inventory since late July, in accordance to regulatory filings.
For different buyers, the sector’s excessive valuations depart little tolerance for any disappointments. The MSCI Europe Textiles Attire & Luxury Items Index trades at 24 instances projected earnings, above its historic averages and a large 90%-plus premium to benchmark indexes.
Bruno Vacossin, a Paris-based senior portfolio supervisor at Palatine Asset Administration, mentioned this is a great time to trim holdings and lock in good points. “I don’t assume that the drivers of luxury stocks are damaged however merely, the development pattern is weaker,” he mentioned.
Together with worries about Europe’s misfiring economic system, the place exercise is fading whereas worth pressures persist, and a seemingly countless stream of dangerous information out of China, the newest US earnings season has served up proof of weakening client patterns. In the face of this, analyst projections for luxury firms nonetheless look over optimistic to some buyers.
“Many brokers have revised their goal costs and I believe that the consensus was a bit of too excessive,” Vacossin mentioned, including that he has lowered his positions in LVMH and Hermes. These two firms, like Moncler SpA and Swatch Group AG, are anticipated to put up double-digit development of their present reporting years.
HSBC Holdings Plc analysts broke ranks this week as they cautioned that third-quarter ends in luxury are doubtless to be “smooth.” Spending on luxury gadgets in Europe has solely recovered to 41% of August 2019 ranges, they mentioned, with constraints round flight capability and visas limiting vacationer numbers and including to native headwinds.
What’s extra, technical analysts level to indicators suggesting there is a danger that the descent for LVMH and its luxury friends might worsen.
“The underperformance of the sector has a excessive chance to proceed in the coming months,” mentioned DayByDay technical analyst Valerie Gastaldy. “Hermes shall be key to the pace of the strikes. It is holding up remarkably nicely, and it might purchase a while for the remainder of the sector. But, total, dangers stay to the draw back, each when it comes to absolute and relative efficiency, if we glance into the finish of the 12 months.”
Analyst share-price projections nonetheless don’t mirror such issues. Their combination worth targets indicate a 25% achieve for LVMH over the subsequent 12 months, a 28% enhance for Gucci-owner Kering and a 9.5% advance for Birkin-bag maker Hermes. By their estimates, the MSCI’s index for the sector presents a possible return of greater than 12%.
“The stocks carried out nicely this 12 months, so it is smart to take some earnings,” Palatine Asset Administration’s Vacossin mentioned. “However I believe it’s extra a tactical transfer fairly than a broad change in pattern.”
— With help by Angelina Rascouet
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Report: Postal Rate Increase Will Cost Amazon More Than $1B in 2019
The proposed increase in shipping and mailing fees at the U.S. Postal Service (USPS) could cost Amazon.com more than $1 billion in 2019, according to a Credit Suisse report. "As we roll forward the sensitivity analysis to 2019, we arrive at a potential incremental shipping expense range of $400 million to $1.1 billion, with the assumption that 40 percent to 50 percent of U.S. packages are shipped via the Postal Service," analyst Stephen Ju wrote Monday. The USPS announced on Oct. 10 that it filed notice with the Postal Regulatory Commission, the body tasked with regulatory oversight of the agency, of proposed price changes to take effect Jan. 27, 2019, if approved. If the governors of the Postal Service OK the proposed rate increase, package and box rates should rise by a range of 5 percent to 11 percent. And Parcel Select (i.e., last-mile delivery), the service most used by Amazon, could see a 9 percent to 12 percent increase in fees.
Total Retail's Take: Given its position as the unquestioned e-commerce leader and thus the volume of shipping it does, a postal rate increase is big news for Amazon. In fact, a possible postal rate increase is a concern for all retailers. As we've reported, the cash-strapped USPS is looking to increase postal rates as a means to remain competitive in the lucrative order-delivery business, as well as to provide a much-needed revenue infusion. With free shipping becoming a standard expectation for online shoppers, the question becomes how much Amazon and other retailers are willing to eat in terms of increased costs before passing on some of those expenses to consumers. Already an expensive line item, shipping costs could be rising higher, impacting Amazon especially.


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Indian factories added jobs for the first time in 15 months
India’s factories are reopening and that has led to job creation in July 2021, for the first time in 15 months.
- New export orders showed an encouraging jump, according to the survey.
Centre for Monitoring Indian Economy, which releases weekly data, had also suggested some improvement in job creation in July.
AdvertisementIndia’s factories are reopening and that has led to job creation in July 2021, for the first time in 15 months.
The latest manufacturing purchasing manager’s index, compiled by IHS and Markit, shows that factory activity was at its highest in the last three months. This has led to a recovery, a marginal one, in hiring. This was the first time since March 2020 that India’s factories saw a net addition in
“Output rose at a robust pace, with over one-third of companies noting a monthly expansion in production, amid a rebound in new business and the easing of some local COVID-19 restrictions,”
New export orders showed an encouraging jump, according to the survey. However, while production resumed, the cost of raw materials rose at a faster pace than the output.
The Centre for Monitoring
Not just that, the labour participation rate also improved to 41.1% in the week ended July 25 compared to 40% or lower in the preceding three months. There is a greater demand for jobs and most of this demand is being met, the CMIE report had added.
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'Hero' Soars to Late August Record
by Brandon Gray
August 29, 2004
|Jet Li in Hero|
HOLLYWOOD (Box Office Mojo)—The penultimate gasp of summer 2004 showed some unexpected kick courtesy of a two-year-old, subtitled, period piece—albeit one sold on dazzling visuals and action.
Wiring $18.0 million from 2,031 locations over the weekend, Hero eclipsed Bring It On's $17.4 million as the biggest end of August opening ever and posted a distant second best foreign language debut behind The Passion of the Christ's $83.8 million. It also nudged past Crouching Tiger, Hidden Dragon's peak 2,027 theaters to become the widest Asian release of all time.
As Hero won the top spot, Anacondas: The Hunt for the Blood Orchid uncoiled in second place with $12.8 million at 2,905 theaters. Suspect Zero and Superbabies: Baby Geniuses 2 were predictably anemic with $3.4 million at 1,500 and $3.3 million at 1,276 respectively. Over seven years have passed since the first Anaconda squeezed out a potent $65.9 million in 1997—it's $16.6 million debut the equivalent of selling nearly $23 million worth of tickets today—and it's been more than five years since the first Baby Geniuses crawled to a decent $27.3 million in 1999. For its part, Suspect Zero has been in the can for nearly two years.
Breaking the weekend down, Hero earned an estimated $6.7 million on Friday, $6.6 million on Saturday and $4.7 million on Sunday. According to studio exit polling, over 60% of the audience was male and the majority was age 20-30. Miramax paid $21 million for domestic rights and for the United Kingdom, Australia, Italy and other territories.
Miramax drew criticism for the way it handled Hero. Its fall 2002 release in Asia and its Best Foreign Language nomination at the 2003 Academy Awards portended to it hitting theaters by spring 2003. The distributor constantly shuffled release dates, raising questions if it would ever reach theaters—all the while the picture had been available on DVD from overseas markets. When the late August date and a limited release pattern were finally announced, it appeared as if Miramax was unceremoniously clearing out inventory as studios often do this time of year.
As Aug. 27 approached, the buzz built—Hero sold itself in part through glowing word-of-mouth from around the world. A marketing campaign centered on star Jet Li and the movie's sheer spectacle put it over the top, not to mention the addition of Quentin Tarantino's name after his Kill Bill success. Miramax progressively grew more confident—most notably in the final week when the theater count suddenly blossomed from an estimated 1,200 to 2,031—and it paid off in the end.
"Our strategy was a grossly misunderstood by the press," Miramax head of worldwide public relations Amanda Lundberg told Box Office Mojo. "We wanted to get some distance from Crouching Tiger, Hidden Dragon. We didn't want to go when Asia went."
The splitting of the martial arts-infused Kill Bill into two movies—Vol. 1 in Oct. 2003 and Vol. 2 this past April—presented an opportunity to build awareness for Hero but delayed it further. "You couldn't get a better marketing tool for Hero than to attach the trailer to Kill Bill," Lundberg explained.
Often not given the box office credit he deserves, Li once again displayed that he can open a picture—his last five have now averaged $17.0 million out of the gate. On its opening day alone, Hero also became the highest grossing picture of director Zhang Yimou's career. Though his movies such as Raise the Red Lantern and The Road Home have been highly regarded, all have been limited releases, often grossing around $2 million—modest overall but strong in the foreign language arena.
Yimou's next picture House of Flying Daggers, starring Zhang Ziyi from Hero and Crouching Tiger, is poised for platform release starting Dec. 3 by Sony Pictures Classics—five years after the specialty distributor nurtured Crouching Tiger to its smashing $128.1 million success.
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WEEKEND BOX OFFICE CHART
RELATED HERO LINKS
Director ZHANG YIMOU
Cinematographer CHRISTOPHER DOYLE
JET LI | ZHANG ZIYI | WIRE FU


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Turner has appointed TiVo as its EMEA metadata distribution partner.
As part of the multi-year agreement Turner will run services from TiVo’s new Studio, Broadcast and Network Metadata Packages to manage the company’s electronic programme guide (EPG) metadata distribution and service, which covers 44 EMEA channels.
Data will be received by 200 Turner customers that use its channel schedules and programming information.
“Today’s consumers demand a fully connected entertainment experience to be able to discover and access content they want quickly and easily,” said James Crossland, regional vice president technology and operations EMEA and APAC, Turner. “When we were selecting a partner to enable our metadata distribution, TiVo’s global reach and long-standing experience working with the industry ecosystem made them the natural choice to power our services across Europe. We want to give our viewers a superior EPG experience when browsing our channels – we see it as an integral part of our programme offering to them.”
Turner runs popular channels including CNN, Cartoon Network, Cartoonito and TNT.
“TiVo is providing metadata distribution services that distribute multiple formats where needed,” said Roz Ho, senior vice president and general manager, metadata, TiVo. “Joining forces with Turner is a testament to TiVo’s technological capabilities in delivering solutions to help make TV and video viewing more enjoyable for their customers.”
TiVo is showcasing its Studio, Broadcaster and Network Metadata Packages along with the company’s entertainment technology and audience insights solutions at NAB, Las Vegas. (April 24-27).


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BARDSTOWN, Ky. (WDRB) -- Ford's new $5.8 billion battery plant being built in Glendale, in Hardin County, will produce five thousand jobs. But spinoff companies could also create thousands more in other communities across the region.
"We're 32 miles from the Glendale site, and it's going to have a huge economic impact,” said Kim Huston, president of Nelson County Economic Development Agency.
Bourbon and tourism are Bardstown’s signature industries, but it is also home to several factories that supply parts to Toyota. Huston said the community is ready to compete for opportunities that will come from Ford's Glendale project.
"Industrial land, infrastructure, we're working on more water at this time, extending gas lines, and having everything shovel-ready so when those suppliers come looking, we're going to be ready," Huston told WDRB News.
Following Ford’s announcement on Tuesday, Gov. Andy Beshear said the supply chain needed for the project will impact the entire region.
“The excitement here, what we're going to draw, the jobs that are going to be created up and down stream is thrilling," he said.
But one challenge in Nelson County could be finding enough workers. Unemployment there is less than five percent.
Huston said the key will be training a new workforce.
"To get into our high schools, and get into our technical schools, and get into our colleges, and start teaching the skills that are going to be needed in the Ford plant," she said.
While some workers in places like Bardstown could relocate to Hardin County, Huston expects the Ford plant, along with the spinoff companies, will draw others from across the country.
"And then they're going to find a community like Bardstown, or Elizabethtown, or Shelbyville or some of the other small communities they want to live in and just drive to work."
Huston said plans are in the works to deal with traffic, which is already heavy in downtown Bardstown, and could get worse by the time production begins in Glendale in 2025.
Copyright 2021 WDRB Media. All rights reserved.


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Millard “Mickey” Drexler, chief executive officer of J. Crew Group, gave his view of where fashion retailing is headed on Monday night — and it didn’t sit well with Burt Tansky, chairman, president and ceo of Neiman Marcus Inc.
In a short but sharp exchange between the two retail chiefs and panelists at Financo’s Annual Industry Seminar & Merchandising Chief Executives Cocktail Reception, Drexler portrayed the department store business model as flawed, with stores lacking control of their destinies and at the mercy of brands that set prices and often open their own stores, which cannibalize sales from the very retailers they supply. Drexler, who has made his mark at two vertical retailers that sell in-house brands, Gap and J. Crew, fueled the old debate about whether the department store, even one selling luxury goods, ultimately can survive.
The panel, moderated by Financo Inc. chairman Gilbert Harrison, also included Mindy Grossman, ceo of HSN; Gordon Segal, chairman and founder of Crate & Barrel, and David Simon, chairman and ceo of Simon Property Group.
In the past, Drexler has been critical of the designer business, saying its prices are too high, and asserting that J. Crew is providing designer-quality clothes at lower prices. At Financo’s event, he raised the issue again, and in effect took a shot at Neiman Marcus, which has built its reputation on selling high-priced designer goods provided with lavish service.
“The world is not about overpriced designer [goods] anymore,” Drexler said, adding, “The days of $800 to $900 shoes are over. We [J. Crew] have adjusted prices and are going after [luxury] businesses that have grown hugely.”
Picking up on one of the recurrent themes during this year’s National Retail Federation convention, Drexler also suggested recent events have inalterably changed the consumer, who simply isn’t shopping as before. “I don’t think it’s going to get back to where it was before,” he said.
But Tansky stood up for the luxury consumer, and in response to Drexler said, “We don’t know when we will come out of this,” meaning the deep recession that’s hit the luxury sector hard. “It’s premature to start denigrating” the luxury consumer, Tansky added.
“Our customers have voted time and time again for branded goods,” Tansky said. “They are not vacating that so quickly.” Drexler responded that he wasn’t denigrating anyone. “There’s just a lot less money in the system,” he said. “Hey, Burt, I’m just looking at the world where I think it is. You make your bets, I will make mine. I just think the consumer is pushing the reset button. I would hate to bet my future on companies that I have no control over.”
As far as designers opening their own stores, when Drexler said it hurt department stores that carry the same brands, Tansky replied, “That’s nothing new,” implying that Neiman’s and designer shops can coexist profitably.
But Drexler interjected, “Designer boutiques — it’s erosion.”
He emphasized, “You cannot control your product without controlling price and controlling distribution.”
Drexler added that chains tend to overexpand. “In my old job [at Gap], we expanded beyond what we needed,” he said. “There are big white elephants out there. If you compete on price, you lose. At the end of the day, it’s about product, creativity, consistency and innovation, and I don’t think there’s enough of that in our industry.”
Although standing by his customer and business model, Tansky expressed deep concern about the state of the economy and its effects on retailing. “Now the rich have stopped shopping. I’m upset with our customer. A 401(k) is a 201(k). In some cases, it’s a 101(k). Frugality is in fashion. The alligator belts are tightening….Who knew a wallet could hibernate?”
He continued: “Husbands used to say ‘Enough.’ Now they say, ‘Don’t even think about it.’ While it’s “hard to be a retailer, it’s harder to be a luxury retailer,” he added.
However, asking rhetorically if luxury was dead, he responded, “No, a resounding no.”
“Unfortunately, the affluent customer does not need anything,” Tansky said. He further lamented that “it’s disturbing that 30 percent off no longer tempts the customer.”
But Neiman’s is fighting back against the forces of recession, reducing inventories to line up with demand, adding “the marginal guys are going.”
“The most successful retailers are nimble and responsive to the psyche of customers….Service and strong relationships with customers are our strongest competitive advantage….We have not panicked. Our customers are not trading down. They are simply buying less, much less.”
The jabs that started at the seminar continued into mealtime, with top retail executives taking good-natured, yet pointed, swipes at one another.
First up was Saks Inc. ceo Stephen I. Sadove, who was given “equal time” with competitor Tansky. This prompted the Neiman’s ceo to chime in: “Equal time minus 40.” “Only 40?” Sadove responded, “I thought it was 60.”
The thinly veiled jokes about discounting continued when J.C. Penney Co. Inc. ceo Myron “Mike” Ullman 3rd said dryly: “Our biggest price-point problem is that we have Neiman’s and Saks in our price points.”
With the levity behind them, however, the retail executives got serious, with most not expecting any sort of pickup until 2010 at the earliest. And even then, they fear consumers are unlikely to return to their free-spending ways, meaning retailers will have to go back to basics and make tough decisions if they want to survive.
Sadove said he’s focusing on controlling receipts and expenses and managing for cash, while Brooks Brothers’ Claudio Del Vecchio said his 190-year-old company is focusing on enhancing its “relationship with the customer.”
Alan Cohen, chairman of liquidation and appraisal firm Abacus Advisors Group, cautioned retailers not to wait too long to take care of their weak spots. John Howard, formerly of Bear Stearns’ private equity division and now at private equity firm Irving Place Capital, said he’s using the time to analyze opportunities and is “looking to invest in things previously untouchable.”
Developer Bob Taubman said that with the enormous infusion of cash the government is expected to inject into the economy, “things will improve,” but not for another 12 to 18 months. And Larry Leeds of Buckingham Capital Management started his comments by saying he was a “very gloomy pessimist.” With consumers squirreling extra cash into savings accounts or using it to pay down debt, Leeds said they will buy less. And he expects the luxury end of the market to be “hurt worse than any other part,” which prompted Tansky to roll his eyes and shake his head.
During the seminar, Grossman said HSN, which functions as a retailer with content, will focus on keeping the brand strong and not overleveraged. Like others, it is staying “lean to prepare for uncertainty, [yet] doing nothing that would affect customer service.”
Noting the overabundance of stock in the marketplace, she reminded attendees that “scarcity drives demand.” She also noted the brand should always come first and pointed out that “quality costs less in the long term.”
Grossman said that Stefani Greenfield, formerly of Scoop, will feature in a new program on HSN at the end of March called “Curations by Stefani Greenfield.” According to Greenfield, the show will offer viewers “a collection of things we find and curate,” adding the “concept is that cheap is no bargain, but 85 percent of what we’re selling is under $85.” Greenfield said the concept will be “accessories-driven.” She also has a consulting firm, called My Next Act, launched last fall.
Crate & Barrel’s Segal said that, instead of blaming others, the solution to retailing’s ills was to “make our company and good retailers better.” While leaner, meaner and tougher are attractive catchwords, the most important term to insure survival should be “agile.”
“Consumers will change, and our job is to change right with them,” he said. “You can’t forget that all we are are traders.”
Simon said that, because of the lack of debtor-in-possession financing, the rush to file for Chapter 11 by retailers may be slower. He expects little or no mall development over the next decade but stated that “the strong properties thrive even in this market.”
Separately at the NRF cocktail reception held at the 21 Club, Macy’s Inc. chairman, president and ceo Terry Lundgren observed, “The most important thing to do is to get inventory in line with sales….It’s going to be a tough 2009, whether it’s for three quarters or four quarters. I just hope it ends sooner rather than later.”
Christine Day, Lululemon Athletica Inc.’s president and ceo, said, “For us it’s about the long-term brand status,” adding the company was starting the year with a very “fresh” inventory position that has continued to be low because the company has been adjusting the inventory since the middle of last year. Day acknowledged the company’s stock has fallen substantially, but she said there has been a lot of “turmoil in the market,” adding Lululemon has free cash flow and no debt.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)


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PARIS--Ad giant WPP PLC (WPP.LN) Friday hinted that the year may end better than expected after stronger growth in the U.K. and emerging markets helped fend off slower growth in the U.S, and sales in Europe stabilized.
"Early indications are that full year like-for-like revenue growth will be above budget, with a stronger second half," WPP said in a statement.
The world's largest advertising company however remained cautious and stuck with its target for 2013 of organic revenue growth of around 3%.
Ad agencies have been feeling the pain from companies cutting back on advertising spending, especially in recession-hit Europe. Firms such as WPP and French rival Publicis Groupe SA (PUB.FR) over the past years have increasingly boosted their presence in emerging markets, mainly through acquisitions, to capture the rapid growth in ad spending there.
Publicis earlier this month sent a new warning sign on Europe, posting sales that fell a sharper-than-expected 6.5% in the first quarter.
WPP, however, said sales in western continental Europe showed "relative stability" with like-for-like revenue down just 0.8% as markets such as Finland, Germany and even recession-hit Italy grew over the quarter, while the euro-zone crisis continued to hit spending in markets such as Spain and Portugal.
A 7.8% rise in emerging markets, driven notably by Latin America, offset this decline along with growth of 3.7% in the U.K, which WPP said was well ahead of its budgets. The U.S, however, fell 1%, hit in particular by slower spending in public relations.
WPP, which owns ad agencies including Young & Rubicam and Ogilvy & Mather, also confirmed its target of improving its margin by 0.5 margin points this year.
Overall WPP's revenue rose 5.9% to GBP2.53 billion, boosted by recent acquisitions.
Organic revenue--a closely-watched figure in the industry stripping out exchange rate movements, acquisitions and disposals--rose 2.1%, in line with analyst expectations.
Net new business totaled $1.5 billion in the three month, down from the $1.86 billion in the same period last year.
Dow Jones Newswires


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TUI Travel sales to benefit from woes afflicting Thomas Cook
Holiday company TUI Travel is expected to report resilient trading figures in its first-half results on Tuesday, with analysts predicting it will have benefited from the woes afflicting rival Thomas Cook.
Improved weather compared with the first half last year means TUI is likely to report that overall trading has been in line with expectations, particularly over the winter, when Thomas Cook needed an emergency loan of £200 million.
Flying high: Thomson-owner TUI looks to have gained custom lost by struggling Thomas Cook
However, due to increased fuel costs and challenging conditions in Europe and North Africa, TUI is likely to report an underlying operating loss of £330million, a rise of 7.5 per cent year on year.
In its latest trading update, TUI, which owns Thomson and First Choice, said it had significantly outsold rivals in the January booking season.
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Tech News Summary:
- Logitech CEO and Chairman Bracken Darrell has resigned from the company, causing shares to fall 8.6% in early trading. Board member Guy Getch will take over as interim CEO while a replacement is sought.
- Analysts expect Logitech’s strategy to remain unchanged despite the sudden change in leadership. Logitech posted a 22% drop in fourth-quarter sales in May due to the economic downturn caused by COVID-19.
- Logitech, founded in Switzerland in 1981, is known for computer accessories such as keyboards, mice, and webcams. The company will need to continue innovating and adapting to changing market conditions to weather this leadership transition.
Logitech, the Swiss technology giant, saw shares plummet by almost 10 percent on the news that its CEO, Bracken Darrell, had resigned his position. The sudden announcement came as a surprise to investors and industry experts, with many questioning what’s next for the company.
Mr. Darrell had been at the helm of the company for eight years, during which time he helped transform the struggling tech firm into a global leader in computer peripherals, gaming accessories, and smart home devices. Under his leadership, Logitech had seen solid revenue growth, with the stock price tripling during his tenure.
Despite the positive developments, some investors had become concerned with the company’s recent performance. In the most recent quarter, Logitech missed earnings estimates and signaled lower-than-expected sales for the current quarter. With Mr. Darrell’s resignation, there are growing fears that the company’s future might not be as bright as once thought.
At this point, the company has not announced who will step in as CEO, leaving investors uncertain about the direction Logitech will go in the future. Some believe that the company might look to outside candidates with more experience in running larger businesses. Others have suggested that there could be a shift in focus towards areas such as gaming and smart home devices, which have seen strong growth in recent years.
Overall, there’s no doubt that Logitech’s leadership change marks a significant moment for the company and its shareholders. Whether the company will be able to weather the storm and emerge stronger on the other side remains to be seen. However, with the technology sector constantly evolving, there are likely to be plenty of opportunities for a well-run company like Logitech to find success.


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BIRMINGHAM, Ala. Honda Motor Co. may expand its hybrid line with the addition of a gasoline-electric light truck, The Detroit News reported. The automaker is considering developing its fourth hybrid vehicle, as Toyota plans to introduce two hybrid SUVs in 2005. “We haven’t defined yet which vehicle it will be, but it probably will be something on our light-truck line, probably on the SUV side,” Tom Elliott, executive VP of Honda’s U.S. subsidiary, told The Detroit News. Honda’s light truck and SUV line includes the CR-V, Pilot, Element and the Acura MDX. According to The Detroit News, Honda will begin selling a hybrid Accord sedan with a V6 engine and an electric motor in November. Honda’s other gas-electric vehicles include the compact Insight, introduced in 1999 and the Civic, launched in 2002.
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Food waste is a national epidemic. Approximately 40 percent of food in the U.S. gets tossed out. It's is also an environmental issue: more than 97 percent of food waste ends up in landfills -- 33 million tons of food each year. Simply put, food waste is a problem.
Refrigerators can drastically affect tomatoes' taste. The cold temperatures cause them to lose their flavor and become mealy. New research suggests, however, that the same could be true of the opposite.
Although most of us routinely fall prey to those dated grocery store labels -- chucking entire jars of "expired" mayo for fear of poisoning our sandwich-eating kids, for example -- it turns out that those designations are actually pretty meaningless.


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We’ve made it to June, and it’s officially not-E3 video game watching season as a bevy of game showcases are scheduled to broadcast this month. To anticipate the next two weeks of game announcements we’ve put together a list of game showcases plus when / where to watch them.
As the game hype machine moves on without the usual yearly ESA event, the season of game showcases has already been kicked off with PlayStation’s State of Play presentation from yesterday. Some highlights include the confirmed March release date for the upcoming Resident Evil 4 Remake, a sleuth of titles coming to PSVR2, Marvel’s Spider-Man Remastered swinging over to PC, indie titles, Street Fighter 6 confirmed for next year, Final Fantasy XVI confirmed to release next summer and more.
Check down below for the full list of upcoming showcases happening this month.
Limited Run Games Showcase – June 6th
- When to Watch: June 6th at 1 p.m PDT / 4 p.m. EDT / 8 p.m. GMT
- Where to Watch: Twitch
Up first is Limited Run Games is hosting its LRG3 Showcase which is being produced by Mega64 as a part of a partnership. The upcoming game showcase will feature over 30 game trailers and physical release reveals.
Summer Game Fest – June 9th
- When to Watch: June 9th at 11 a.m PDT / 2 p.m. EDT / 6 p.m. GMT
- Where to Watch: Facebook, Twitch, Twitter, and YouTube
The first big upcoming game showcase this month is Summer Game Fest, hosted by Geoff Keighley. The third iteration of the event at “a glimpse of what’s next for the world’s preeminent form of entertainment.” The two-hour showcase is set to feature world premieres, gameplay demos and news on some highly anticipated games from a list of more than 30 developers and publishers. Those that will be featured include 2K, Bandai Namco, Capcom; Devolver Digital, Electronic Arts, Epic Games, Mediatonic, MiHoYo, Netflix, PlayStation, Sega, Skybound Games, Square Enix, Steam, Warner Bros. Games, Xbox, and many more.
Day of the Devs: SGF Edition – June 9th
Following the conclusion of Summer Game Fest, the stream will continue on as immediately following is Day of the Devs: SGF Edition. The showcase highlights upcoming indie games from developers including a brand new IP from ustwo games (creators of Monument Valley), a world premiere of the next game from Michael Frei (the creator behind Plug & Play, KIDS) & Raphaël Munoz. We’ll also get another look and some news on Gummy Cat’s Bear and Breakfast. The showcase will also feature games from developers new and familiar including Coin Crew Games, Ewoud van der Werf, Florian Veltman & Baptiste Portefaix, HiWarp, Madison Karrh, Max Inferno, Shared Memory, Soda Den, Two Star Games and Wishfully.
Devolver Direct – June 10th
Devolver Digital is bringing the chaotic wild card energy to this month’s game showcases with its next Devolver Direct if the trailer above and past shows are anything to go by. The trailer features Devolver’s fictional on-screen marketing team deciding they are doing away with the narrative of past shows “that didn’t go anywhere.” Instead, the publisher is doing a marketing countdown to build excitement for their events with “ridiculous 30-minute celebrity-soaked attention-grab countdowns before a company’s actual presentation.”
The event will be virtually hosted by legendary game developer, Suda51 from inside a giant robot which is being broadcast from inside a remote location which is totally not a Zoom call. It is forgotten that the Direct presentation that is comedic in the most ridiculous ways also showcases games which Devolver Digital confirms there’ll be “at least four video game announcements” including Cult of the Lamb.
Tribeca Games Spotlight – June 10th
- When to Watch: June 10th at 12 p.m PDT / 3 p.m. EDT / 7 p.m. GMT
- Where to Watch: YouTube
The next day, the world-renowned film festival Tribeca is hosting the Tribeca Games Spotlight and is set to feature new looks at some upcoming games and interviews with gaming industry creators. Some of the games that will be featured include A Plague Tale: Requiem, As Dusk Falls, Cuphead: The Delicious Last Course, Oxenfree II: Lost Signals and more.
Freedom Games Summer Showcase – June 10th
- When to Watch: June 10th at 1 p.m PDT / 4 p.m. EDT / p.m. GMT
- Where to Watch: YouTube and Twitch via IGN’s Summer of Gaming
After that Publisher, Freedom Games is hosting its own game showcase as a segment via IGN’s Summer of Gaming. The summer showcase event is set to be one hour long and will feature game reveals, release date announcements, updates, developer interviews, and surprises for some of the upcoming indie games. Some games set to make an appearance include One Lonely Outpost, Symphony of War, Retreat to Enen, 9 Years of Shadows, Monorail Stories, Neon Blight, and Tyrant’s Blessing.
Guerrilla Collective – June 11th
Up next is the indie celebration game showcase, the Guerrilla Collective which promises to reveal exclusives and game reveals” from developers and publishers including 11 bit, Raw Fury, tinyBuild, Humble, Team 17, Thunderful, Versus Evil, Curve, Finji, Skybound, Akupara and gems from new teams. Following the conclusion of the event, the next game showcase event below will follow right after.
Wholesome Direct – June 11th
- When to Watch: June 11th at 9:30 a.m PDT / 12:30 p.m. EDT / 4:30 p.m. GMT
- Where to Watch: Twitch and YouTube
Wholesomeness is making a comeback as the team behind the Wholesome Direct is returning with another edition of its game showcase this month with nearly 100 cute, cuddly, and on-brand wholesome indie games. The direct is set to feature “new game reveals, exclusive footage, and even games that will launch DURING the show.”
Future Games Show: Summer Showcase – June 11th
- When to Watch: June 11th at 12 p.m PDT / 3 p.m. EDT / 5 p.m. GMT
- Where to Watch: Facebook, GamesRadar, Twitch, Twitter and YouTube
The not E3 edition of GameRadar+’s Future Games Show is set to go down next Saturday, while not as big production-wise as some other big players on this list, it looks to be a pretty big show with the games set to be shown. Speaking of which, the game showcase is set to feature seven world premieres and 28 exclusive trailers from publishers like Team17, Thunderful, and Amanita Design. Alongside that the show this year is being hosted by another iconic voice actor duo – Doug Cockle and Denise Gough, who portrayed Geralt of Rivia and Yennefer of Vengerberg in The Witcher 3: Wild Hunt.
Xbox & Bethesda Game Showcase – June 12th
- When to Watch: June 12th at 10 a.m. PDT / 1 p.m. EDT / 5 p.m. GMT
- Where to Watch: Facebook, Twitch, Twitch (ASL), Twitter and YouTube
After that, we have the penultimate June game showcase and the biggest event for Xbox gamers. That being the return of the Xbox & Bethesda Game Showcase but this time around not under the umbrella as the second edition of Xbox’s current iteration of its June showcase. Similar to last year’s Xbox & Bethesda Game Showcase, we’ll get a look at some of the exclusives coming to Xbox’s game platforms.
While both Starfield and Redfall may have been delayed we could get another look at both games during the showcase, maybe even gameplay reveals of either Xbox’s Fable or Perfect Dark reboots. We could also get another look at already announced Xbox Studios games including The Outer Worlds 2, Senua’s Saga: Hellblade II, Everwild, Avowed, and the next Forza Motorsport game. It may not be just about first-party games but also Microsoft once again promoting the immense value of Game Pass with some of the upcoming games being available day one on its service.
PC Gaming Show – June 12th
- When to Watch: June 12th at 12:30 p.m. PDT / 3:30 p.m. EDT / 7:30 p.m. GMT
- Where to Watch: Twitch and YouTube
Last but not least is the PC Gaming Show taking place a little after Xbox finishes up their showcase and is set to feature something PC gamers really like… PC games. The PC outlet’s gaming showcase presentation for this year will reportedly feature 45 announcements and reveals. Some titles we know will have a presence on the show include Arma 4, Half-Life: Alyx mod – Levitation, Warhammer 40K: Space Marine 2 and many more.


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Times kicks off Euro 2004 with TalkSPORT sponsorship
LONDON – The Times has signed a sponsorship deal with Kelvin MacKenzie's TalkSPORT for its flagship drivetime programme.
The sponsorship, which begins today, will see the show renamed 'The Game' after The Times's Monday football supplement.
Andrew Mullins, marketing director of Times Newspapers, said: "Like TalkSPORT listeners, Times readers are passionate about sport, and in particular passionate about football. The team at TalkSPORT has worked with our media agency Carat to put together an extremely creative sponsorship."
Hosted by Patrick Kinghorn and Tony Cascarino, the drivetime show has the second-largest audience on TalkSPORT. The sponsorship will run from Monday to Friday between 4pm and 7pm.
Ashley MacKenzie, sales director at TalkSPORT, said: "We are looking forward to having The Times as our sponsor and what better way to kick off the partnership than with Euro 2004 only weeks away."
The Times was recently named as the best newspaper for sports coverage at the Sport Industry Awards.
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text: Newsroom Section: In the Media Helpful, healthy advice: Medical experts assist grocery shoppers 12/04/2017 By Daily Press APPLE VALLEY — One medical group is planting doctors inside some local grocery stores to help shoppers make healthier food choices and to monitor their health. In an effort to tackle obesity, cardiovascular disease and other health-related issues, Providence St. Joseph Health’s Southern California Region’s “Shop with Your Doc” project arrived in the High Desert Monday. Doctor Riad Z. Abdelkarim, the VP and CMO of St. Joseph Health, St. Mary of Apple Valley and Registered Dietitian Debbie Rathbone were at Food-4-Less on Bear Valley Road in Apple Valley to visit with shoppers. “During their visit, the medical duo toured the store and answered shoppers’ health and nutrition questions,” said St. Joseph Health, St. Mary spokesman Randy Bevilacqua. “They also went over food labels, discussed healthy eating options and lifestyles, and offered blood pressure checks.” Read more Categories: Alert Banner Related Articles Making a healthy impact: Program teaches ‘Seven Dimensions of Wellness’ to fifth-graders across High Desert 04/26/2018 By Daily Press By Rene Ray De La Cruz Staff Writer APPLE VALLEY — The annual Every ... St. Mary earns California Children's Services designation 05/24/2016 By Rene Ray De La Cruz St. Mary earns California Children's Services designation St. Joseph Health, Providence Health create third-largest health system 07/08/2016 By Daily Press On Wednesday, the new chain announced it will invest $100 million into the ... 24-hour Give BIG campaign launches 05/08/2014 Click here to read article. Health snapshot of local neighborhoods shows room for improvement 08/13/2014 Click here to view article.


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over 3 years ago • 2 mins
The ink’s not even dry on Nexi’s recent $5.4 billion acquisition, but the payments firm is already chasing another deal this week – this time with Danish firm Nets 🏃♂
Italy’s Nexi hit the stock market last year and its share price has doubled since. That might’ve given it the chutzpah to go out and start hoovering up its rivals: the payments tech firm confirmed it’d be buying fellow Italian SIA on Sunday, only to make its interest in Nets – which is currently owned by private equity investors and valued at $10 billion – known the very next day.
Consolidation among payments firms has been in vogue lately: the US alone has seen PayPal buy iZettle, Fiserv buy First Data, and FIS buy Worldpay 🤝 Europe’s been at it as well, with French firms Worldline and Ingenico agreeing to team up. Nexi might’ve been swallowed up by a giant too, but it can rest easier now: Sunday’s deal has made it one of Europe’s biggest payment firms, and it’s not stopping there...
The payments processing market is exploding as people spend less cash, and it’s expected to be worth $2.4 trillion by 2027 💳 And investors know which way the wind is blowing: payments firm Square’s stock has soared 350% since March, PayPal’s shares are up 130%, and Ant Financial’s upcoming initial public offering might be the biggest ever.
Another long-awaited deal – between French utilities firms Veolia and Suez – finally started taking shape this week 🇫🇷 Veolia’s bought an almost 30% stake in Suez and is expected to use it as a launchpad to buy the entire thing – even though Suez would rather stay independent. It might be alone there: even the French government likes the sound of being home to a global giant in waste treatment and environmental services. Who wouldn’t?
Disclaimer: These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment advisor.


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Microsoft Avoids Paying $1.5 Billion To Alcatel-Lucent, For Now
A U.S. judge calls the jury's decision "against the clear weight of the evidence" in a case over two MP3 digital music patents.
Finding that a jury's decision was "against the clear weight of the evidence," a judge on Monday set aside a record $1.53 billion verdict against Microsoft for allegedly infringing on two MP3 digital music patents held by Paris-based Alcatel-Lucent.
In overturning the February verdict, Judge Rudi Brewster, of U.S. District Court in San Diego, said that Microsoft's Windows Media Player does not infringe on one of the patents and found that the software maker had already licensed the other patent from a co-developer of the technology.
Brewster's rulings left open the possibility that Microsoft could face new trials in the case.
In a statement, Microsoft general counsel Brad Smith called Brewster's decision "a victory for consumers." Officials for Alcatel-Lucent called the ruling "shocking and disturbing."
Brewster's findings doubtless sent sighs of relief through the ranks of other manufacturers of MP3-related products as it lessens the chance they'll face a similar suit from Alcatel-Lucent.
Brewster overturned the jury's finding that the so-called backup HQ encoder on Windows Media player violated Alcatel-Lucent's claim to U.S. patent 5,341,457, which governs the "perceptual coding of audio signals." Brewster, in his 43-page decision, noted that, "Even Lucent's expert... testified that he had never observed the HQ encoder running."
Brewster also found that Microsoft had licensed for $16 million the second patent at issue -- U.S. patent RE 39,080 -- from Fraunhofer Gesellschaft of Germany, which co-developed the technology in concert with Lucent's former corporate parent AT&T. RE 39,080 is for a "rate loop processor for perceptual encoder-decoder."
Finally, Brewster said the jury erred when it awarded damages and royalties using a formula based on the number of Windows-based computers Microsoft sold during the period of alleged infringements. Brewster said there was no evidence to indicate that "the patented features themselves produced any customer demand or value of the product."
Alcatel-Lucent said it plans to appeal.
We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.


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Tumblr is back on the App Store ahead of 'adult content' ban
Apple pulled it back in November, reportedly due to child exploitation photos.
Apple is quietly killing off Apple Music's Connect social features
Artists will no longer be able to make posts and old content is being removed.
Apple snags JJ Abrams-produced drama starring Jennifer Garner
It’s based on a 2017 memoir from Amy Silverstein.
Qualcomm wants China to ban the iPhone XS and XR
The chipmaker already got a preliminary injunction on older iPhone models.
Apple's latest expansion puts it closer to its biggest rivals
Apple's new sites will let it keep a close eye on Microsoft, Amazon and Qualcomm.
Apple may relaunch its Netflix for magazines service in the spring
But some publishers are reluctant to sign up for the revamped Texture.
Patent describes how Lyft’s self-driving cars might communicate
Displays could let people know when it’s safe to walk in front of the vehicle.
The Pixel 3 has 2018’s best smartphone camera
The competition was close, though.
Audit backs Apple's denial of Chinese spy chips in servers
The independent study says Super Micro's hardware is clean.


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Potawatomi Business Development Corp. buys cyber security firm
Milwaukee-based Potawatomi Business Development Corp., the economic diversification arm of the Forest County Potawatomi, announced Tuesday that the tribe's Securio Group LLC has acquired Redhawk Network Engineering, Inc., a Bend, Ore.-based cyber security company.
Redhawk Network Engineering has merged with the Oklahoma City-based security services company, Securio Group, a sister company of Advancia Corp. A newly formed organization, Redhawk Network Security LLC will be the operating company. Sale terms were not disclosed.
Recent national business updates from the Associated Press