text:
Papua New Guinea’s market is remarkably open in terms of trade. Over the past two decades the country has gone from being a high-tariff jurisdiction pursuing 1970s-style goals of protection and import substitution, to one that embraces free market principles. The tenets of the Washington Consensus were accepted and implemented in a phased approach over several years.
The country remains open and, so far, the rates hold. However, in recent years questions have been raised about the liberal policies that were taken on. As the country faces slower economic growth, tariff rates are being brought into question and more interventionist economic policy is being considered to promote domestic industry. In the next phase of liberalisation free trading groups and trading blocs are in the spotlight. PNG is being careful about what it signs, trying to ensure everything it agrees to is good for the economy.
Historically, the country has adopted an internationalist outlook and a policy of positive engagement. It has signed six trade treaties in total with Australia, China, Germany, Japan, Malaysia (which is not yet in force) and the UK. PNG is party to many multilateral agreements, groups and conventions, including the General Agreement on Trade in Services, the agreement on Trade-Related Aspects of Intellectual Property, the agreement on Trade-Related Investment Measures, the World Bank Investment Guidelines, the APEC Non-Binding Investment Principles, and UN Guiding Principles on Business and Human Rights.
In 2007, due to the expiry of the Cotonou Agreement, the EU and PNG signed an interim economic partnership agreement (EPA) which became effective in 2011, whereby PNG receives duty-free and quota-free access to the EU markets while agreeing to reduce tariffs on imports from the EU over a 15-year period. Europe hopes to sign an EPA with 14 countries in the region.
For years PNG has aggressively targeted import duties. It started lowering them in 1999 under its Tariff Reduction Programme (TRP). Before the TRP, the prohibitive rate, which was in place to protect certain industries, was as high as 100%. The policy was undertaken on the advice of the World Bank to make industry more productive and competitive. While rates were being lowered, a goods and services tax was introduced to balance the loss of revenue.
The international context is significant. The global trade environment is dynamic, especially given the political changes in Europe and the US. Tariff agreements and trade preferences are at risk. PNG is gaining and losing as countries reassess their trade policies and commitments. The country has received assurances from the UK that trade preferences currently available would not be lost after the UK leaves the EU. Most importantly, PNG will retain duty-free access for canned tuna and oil. The government is seeking to add items to the list, especially cocoa and coffee. Once the UK is allowed to set its own trade policy, further concessions could be possible. Prime Minister Peter O’Neill has said that the US exit from the Trans-Pacific Partnership will not impact PNG. The opposition, however, notes that the country will be affected by the US decision to leave the Paris Climate Accord, under which PNG was set to receive $7.5m from the US Agency for International Development.
PNG’s market remains open, but concerns have been building. The TRP itself has been seen as a mixed success. It was supposed to be implemented with a number of counterbalancing initiatives: training was to be provided, the law and order situation was to be improved, physical infrastructure was set to be upgraded, the price of utilities was to be lowered and the bureaucracy was to be made more efficient. This did not happen, and industry has been disappointed. It has been especially concerned as inexpensive goods have arrived in large quantities from Asia. Local industry cannot compete due to the persistent issues related to doing business, and manufacturers in PNG have asked that the reductions be halted or even reversed.
Beyond basic tariff numbers, the country is carefully considering its options with regard to open trade and investment. PNG has said that it will not join the Pacific Agreement on Closer Economic Relations Plus (PACER Plus), despite having been in negotiations for a decade. PACER Plus covers most aspects of trade and investment between and among Pacific nations. Included are provisions on trade in goods (including tariff schedules), trade in services, rules of origin, Customs procedures, sanitary measures, investment and movement of natural persons. It also includes a document on the mobility of labour. PACER Plus itself was a compromise. Under the original PACER agreement the participants were supposed to move towards a full free trade agreement (FTA), But because of the lack of progress the goals were modified and PACER Plus was introduced.
A total of 11 nations, in addition to Australia and New Zealand, signed the agreement. Groups opposing PACER Plus said that it favoured the larger, more advanced nations. PNG has said that it will sign bilateral agreements with Australia and New Zealand rather than the multilateral document. In addition to PNG, other nations decided not to sign. Fiji is still contemplating the accord. In June 2017, in a surprise move, Vanuatu also chose not to sign, saying it wants to take more time to assess the costs versus the benefits of the agreement.
For years, the Pacific nations have tried to achieve some sort of economic unity. While PNG is fundamentally different from the region’s small island states (it is large, has a sizeable population and is resources focused), it has joined with them nonetheless. The Pacific Islands Forum was founded in 1971 as the South Pacific Forum. It is an intergovernmental organisation with a wide remit, but much of what it does touches on economic cooperation.
Some of its plans have been particularly ambitious. The idea of a Pacific Union has been floated for some time, but an EU of the region has never been seriously negotiated. Intermediary agreements, such as a single currency, have been given support by several of the larger participants in the union.
The Pacific Island Countries Trade Agreement is an FTA focused on trade in goods. Ratified by 11 countries in the region, it was signed in 2001 and became effective in 2006. It is open to 14 members of the Pacific Islands Forum (all the members minus Australia and New Zealand). The Cook Islands, Fiji, Kiribati, Nauru, Niue, PNG, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu have so far signed it. It is set to be broadened to trade in services and movement of natural persons.
The Melanesian Spearhead Group (MSG), founded in 1986 as an intergovernmental body, signed a wide-ranging trade agreement in 2016. Known as MSGTA3, it is set to come into force in 2017. It covers not only trade in goods, but also services, labour and investment. The group hopes to expand the agreement to include other economies in the region. Other agreements include the South Pacific Regional Trade and Economic Cooperation Agreement, which was signed in the 1980s, and allows for duty free access for goods from most Pacific states to Australia and New Zealand. Each of these agreements, while sound in principle, has a weakness. Some are not strong enough, some are too ambitious and some do not seem to have a purpose today. The MSG, while one of the more successful regional blocs, is more than just economic, and its other priorities could conflict with its economic agenda. The group is also political and cultural. Its aim is to represent all Melanesians regardless of where they live. Membership has been extended to the Kanak and Socialist National Liberation Front – a New Caledonian pro-independence political party – and is being considered for the United Liberation Movement for West Papua, a pro-independence group. Indonesia has observer status in the MSG and opposes the addition of the West Papuan group.
Most of all, observers have commented that the region has too many trade deals. Like many parts of the world, it suffers from the “spaghetti bowl effect”, whereby agreements overlap, contradict and ultimately make business more difficult rather than easier. This is resulting in increasing trading costs and may potentially lead to confusion in the private sector. It has been suggested that all the agreements be unified into one.
Dispute With Fiji
Even with trade agreements in place, local issues can hamper their effectiveness. In 2016 Fiji banned the import of Ox & Palm corned beef, Trukai rice and Lae Biscuits from PNG on biosecurity grounds. In response, PNG threatened to cut off all trade with Fiji. The mini trade war was quickly resolved, with Fiji lifting the ban in early 2017, but the dispute brought existing tensions to the surface.
Trade between the two countries is not balanced, with PNG buying roughly 10 times more goods from Fiji than Fiji buys from it, and this has led to charges of unfair trading and market domination. Fiji has said that it never discriminated against goods from PNG and that the biosecurity ban was implemented in the normal course of applying standards by its quarantine authority. However, PNG has asserted that the ban was an attempt by Fiji to protect its local products.
You have reached the limit of premium articles you can view for free.
Choose from the options below to purchase print or digital editions of our Reports. You can also purchase a website subscription giving you unlimited access to all of our Reports online for 12 months.
If you have already purchased this Report or have a website subscription, please login to continue.


text:
Regulators can’t touch Facebook—but the market can
A lot of people want to punish Facebook (FB): For its domination of social media, its relentless data mining, its reluctance or maybe refusal to police disinformation. Politicians on both the left and the right would dismantle the social-media giant, if they could.
Facebook and its parent company, Meta, have been essentially impervious to such external pressure. Market forces, however, may now accomplish what legal authorities can’t: Punishing Facebook for a business model that relies heavily on the exploitation of users’ personal data.
Meta stock plunged by 27% on February 3, the biggest one-day drop since Facebook went public in 2012. The selloff followed a quarterly earnings disappointment, which, up till now, has been foreign to Facebook. But the real bombshell was the company’s acknowledgment that new efforts by Apple (AAPL) to protect user privacy made it harder for Facebook to target ads to those Apple customers, a new challenge that could cost Facebook more than $10 billion per year.
As Yahoo Finance’s Dan Howley explains, Apple launched a new privacy feature for its mobile devices last year that changed the way apps can track what users do with their iPhones and iPads. Before the change, apps such as Facebook could automatically track your activity, allowing them to know your likes and interests and target ads accordingly. Users could disable that feature on their devices, but most didn’t.
Apple has made privacy protection a distinguishing feature of its products, and the change means app tracking is now off by default on Apple’s newest operating system. If there’s anybody out there who really wants Facebook’s micro-targeted ads, they can change their settings so Facebook can track what they do. But an unstated part of Facebook’s entire business model is that it doesn’t ask permission to track and vacuum up data, because if it did, too many people would say no.
[Get Rick Newman’s stories by email or follow him on Twitter.]
Facebook and other app developers protested and even threatened legal action, but Apple stood firm. The net result has now shown up in Facebook’s bottom line: The company can’t target ads as effectively as it wants to the estimated 1 billion people worldwide who use an iPhone. That means companies that advertise on Facebook will get weaker results, lowering Facebook’s ad rates and driving some of them to advertise instead on Google or other platforms where they feel they can get more bang for the buck.
Facebook has been a digital advertising dynamo for more than a decade, locking in gargantuan profits as an early mover in the race to monetize the personal information of its nearly 3 billion worldwide users, including those on Instagram, which Meta also owns. Facebook didn’t invent the model, but it perfected the strategy of offering users a free service in exchange for data that was worth a fortune when sliced and diced for advertising purposes.
The market has been shifting, however, and Meta CEO Mark Zuckerberg—who has stoutly rebuffed nearly every effort to rein in his company’s business model—may be losing his wizard’s touch. Facebook has endured a barrage of bad publicity since it became clear a low-budget Russian disinformation campaign used Facebook during the 2016 presidential campaign to smear Democrat Hillary Clinton, in an effort to help elect Republican Donald Trump. The Cambridge Analytica scandal revealed that Facebook violated its own rules on data dissemination to allow a research firm working for the 2016 Trump campaign to target political ads at users based on info that was supposed to remain private.
Democratic Sen. Elizabeth Warren and Republican Sen. Josh Hawley want to break up Facebook, as do many other lawmakers. The Federal Trade Commission and attorneys general from 48 states are pursuing legal action against Facebook, claiming it’s a monopoly that ought to be subject to antitrust measures. There have been numerous hearings during recent years where Zuckerberg and other senior Facebookers have parried with interrogators and insisted that no, Facebook is not evil.
The law has largely been on Facebook’s side. But public opinion no longer is, and that, in turn, is aligning market forces against Facebook for what may be the first time since Zuckerberg and some fellow geeks dreamed up the scheme at Harvard in the early 2000s. In the Interbrand global rankings, Facebook ranked No. 8 among global brands in 2017. That was its high-water mark. By 2021, Facebook had fallen to 15. That probably understates the company’s problem, however, since those types of rankings involve name-recognition as much as quality perception.
Consumers worldwide have become markedly more concerned about data privacy as they’ve become more aware of the ways companies gather information on them and use it to make money. Europe leads in privacy protection, but the United States may be catching up. A recent Morning Consult found that 56% of registered voters support a federal law that would prohibit social media companies from targeting ads based on personal data—which is the core of Facebook’s business model. Only 23% said they would oppose such a law, while 21% said they weren’t sure.
Congress doesn’t seem likely to pass such a law any time soon, but this is where the private sector comes in. Apple has clearly caught on to the growing desire for privacy, to the point where it has even fought the US government by refusing to help unlock the iPhones of criminals and terrorists. Those were unpopular positions at the time, but Apple stuck to its principles and the tech giant now seems to be in pole position just as consumer concern on the issue is peaking. Android phones, powered by Google’s software, don’t yet have similar protections, but Google parent Alphabet could flip on the issue, much as Apple did.
Apple is the world’s biggest and most valuable company, and the kind of gargantuan foe even the king of social media can’t face down. Facebook will remain profitable and probably continue to agitate its many detractors. But the market is now disciplining Facebook, and Zuckerberg can’t blow that off the way he can a few dyspeptic senators. At least four research shops downgraded their outlook for Facebook following the Feb. 3 rout, including JPMorgan, BMO and Loup Ventures. More downgrades are probably coming.
Facebook changed its name to Meta last year to emphasize a pivot to the so-called metaverse, where people will supposedly live digital lives independent of what they do in the physical world. But the metabucks haven’t arrived yet, and Meta may now face a turbulent period of marginal decline in its legacy business while it tries to establish a first-mover advantage in a different realm. It won’t have many sympathizers.
Rick Newman is a columnist and author of four books, including “Rebounders: How Winners Pivot from Setback to Success.Follow him on Twitter: @rickjnewman. You can also send confidential tips.
Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboardand LinkedIn

domain: news


text:
French automobile manufacturer, Renault is making plans to roll out two low-priced vehicles for growing markets including India, out of which one car will give tough competition to world’s cheapest car, the Tata Nano.
The reports said that both the cars in the making will be fabricated together in collaboration with Renault’s strategic associate Nissan and will price near Rs 5,000 euros and 2,500 euros respectively.
Renault is eyeing to roll out the said cars by 2014 end.
The reports also said that the auto maker is making plans to set up both these vehicles at its plant situated in Chennai.
The sources added that the prices of the said vehicle will be really competitive in the domestic market.
But, Renault hasn’t shared any proposals linked to it, but has agreed to the truth that the firm is working hard on such a plan.
Company’s COO Carlos Tavares stated, “When the project has been authoritatively determined… we will make a declaration,”
These two affordable vehicle were previously demanded by Renault and Nissan chief executive officer Carlos Ghosn, who stated that the group require even cheaper models than the company’s existing Dacia series for the growing market zones.


text:
The world may just not be ready for smart glasses after another AR smart glass product failed in the market.
Joining Google Glasses, Magic Leap and more, Canadian smart glass start-up North has may have just given up the ghost, with rumours the company has been acquired by Google.
According to the Globe and Mail, the company is in the “final stages” of an acquisition by Google, said to be worth $180 million.
This is presumably mainly for the company’s IP, after the company halted sales of its Focals smartglasses in December 2019, after reportedly selling a “minuscule” amount which may be as few as 1000 units.
Its retail stores in Toronto and Brooklyn reportedly went says without sales on some occasions.
Due to the sales disaster, the company has been running out of funding and has been looking for a buyer since earlier this year.
North has been teasing a “lighter” and “sleeker” Focals 2.0 with “10x display” while being 40x smaller, but in the end that product appeared to be as vaporous as their sales.


text:
Swiss sportswear brand Jet Set is showing at Pitti Uomo in Florence for the first time, bringing with it a new creative direction and its first footwear range. But the luxury label is hardly a newcomer.
Jet Set has been around since 1969 and, as the name might suggest, was worn by glamorous, international travelers on the slopes of St. Moritz and beaches of St. Tropez. In 2009, Jet Set was bought by the Gaydoul Group, a Switzerland-based investment firm that also manages premium shoemaker Navyboot. And in 2018, German designer Michael Michalsky, who held the position of global creative director at sportswear giant Adidas until 2006, took Jet Set’s creative reins; last year, the label also brought in a new chief executive officer, Marco Di Rado, previously at Hugo Boss, Ben Sherman and Acne Studios. Since then, the Swiss brand has been on something of an international tour, having first shown its new look in Paris in January 2019.
Michalsky, who’s been a fan of the label since the Eighties and even kept the first Jet Set jacket he ever purchased, told WWD that this collection is once again be inspired by the brand’s heritage. He’s spent time trawling the Jet Set archives — his first two collections for the brand also fused the contemporary and vintage — and the designer explained that, “this season will feature three unique prints from the brand’s heyday. But completely reinterpreted and used on technical fabrics which didn’t exist back then.”
The winter collections are the best time to showcase the more performance-oriented skiwear that Jet Set specializes in, Michalsky noted, which is eventually intended to make up just a third of all of the label’s products. Michalsky has been brought on to put Jet Set on the streets, not just the ski slopes, and also on display in Florence is a new footwear line. In the past, sneakers, featuring the distinctive red logo, were made for promotional purposes but they will now be available for sale. Also on show are more garments with that luxury “ath-leisure” feel as well as offerings from a sister label, Blue System, popular in the Eighties.
Michalsky said the reintroduction of the latter denim-oriented line for spring/summer 2020 got a “phenomenal response” in Paris, so there is more “innovative denim” at the brand’s stand in Florence, too.
But don’t call it a comeback — or even just another retro revival. As Michalsky explained, it’s more about being inspired by Jet Set’s heritage. “We like to consider the brand a true originator of luxury street- and sportswear,” he said. “Jet Set pretty much invented the sector in the early Eighties.”
And if all goes according to plan, Michalsky’s ambition is to take it back to the top, where he believes it belongs.


text:
Volkswagen Philippines announces its newest brand ambassador, and it’s Mr. Pure Energy, Gary Valenciano. The partnership between the two will be showcased at the German automaker's upcoming event dubbed “We Move You.”
Gary V. has become one of the most recognizable talents in the country. He has 34 years’ worth of experience in the show business industry. He has made his mark in music recording, film, and television industries. His popularity ensures that any partnerships that include him inspire audiences to move and to be moved.
Volkswagen, on the other hand, has 83 years of experience under its belt and stands as one of the lead automakers globally. The brand has been synonymous with putting people first, which can be seen in its name. When translated Volkswagen means the people’s car. The brand carries design, creation, engineering, and innovation in all of its vehicles with a driver and passenger focus in mind.
All of the German manufacturer’s models that have rolled off assembly plants come with generations worth German engineering that come with a guarantee of engineering precision. All of these characteristics and more have instilled millions of owners with pride, confidence, and assurance in knowing that their vehicles will reliably run without a problem.
The partnership between Volkswagen Philippines and Gary V. represents a collaboration of two “movers” and game-changers in their respective fields. Volkswagen also turned over a Lamando to the multi-talented talented artist. The Lamando mixes in timeless design, German engineering, performance, safety, and security. With all these features, the midsize sedan jives well with Gary V’s versatility and his ability to adapt to the times and performance levels.
To celebrate the partnership, a concert by Gary Valenciano himself will be featured this coming February 22, 2020, at the Trinoma Activity Center in Quezon City from 4:00 p.m. onwards.


text:
This is a massive news coming from Burberry: Angela Ahrendts steps down to join Apple to head their retail efforts while Christopher Bailey will become by mid 2014 Chief Creative and Chief Executive Officer.
It’s a breakthrough when we think few minutes about the recent story of the British brand: Ahrendts is the real business genius who sat down one day with Salesforce CEO and wrote the whole strategy on a napkin…While Bailey achieved to implement a creative framework in every corner of the organization.
It’s one thing to be the creative godfather; it’s another story to fight against financial departments. One example: Asia is a financial myth which could also reduce the luxury assets of the brand. Diverse studies demonstrate that Burberry is slowing down in terms of innovation right there: how will Bailey manage this crazy unbalance between going luxury and going worldwide. Let’s see!


text:
Commercial real estate news releases from Avison Young
Quarterly and topical research insights to help your business gain competitive edge in commercial real estate.
Avison Young Insight team expands retail sector research capability with appointment of Lesley MalesNovember 8, 2021
Her new role will see Lesley develop the firm’s research capabilities in the retail sector and support the existing team’s track record of producing industry-leading analysis and insight.
Drawing on 25 years of cross-industry experience covering retail, technology, and business services, Lesley’s expertise lies in devising effective research strategies to support agency teams and clients with insight into the latest market trends.
Lesley joins Avison Young from Capita, where she was Head of Research since 2020. Prior to this she was Head of Research at Datscha UK, which she joined from CBRE in 2017.
Avison Young is actively investing in the growth of its Insight team, as part of a drive to produce highest level of market intelligence, which will be vital to inform investor and occupier decisions in a post-COVID economy.
Daryl Perry, Head of UK Insight, said:
“The retail landscape is evolving at pace - a perfect storm of Brexit, Covid and the pre-existing shift to e-commerce means investors and occupiers are relying more heavily than ever before on real-time, data-driven analysis to inform their real estate strategies.
The appointment of a high-calibre research professional like Lesley adds immeasurable value to agents and clients through the provision of thorough and innovative analysis and will further enhance the wider research offering at Avison Young.”
Lesley Males added:
“I am delighted to be joining Avison Young at a time when the Insight team is undergoing significant expansion. The retail sector is going through monumental changes, making it an exciting time to advise clients and agents with the latest industry insights.”
The Insight team has seen several appointments and promotions over the past months. James Roberts, most recently Chief Economist at Knight Frank, joined as Director in May, while August saw Graham Shone join as Associate Director, and Pearl Gillum and Alec Johnson as Senior Analysts. Kiran Patel was promoted to a global position as Senior Analyst, working alongside Avison Young’s Global Director of Insight, Nick Axford.


text:
RUNNING at remarkably steep angles up a grassy hill, Melinda Gann glanced over her shoulder and caught a glimpse of the beach falling far away from her as she recently made her way to the summit. She was alone and exhilarated. The view, she recalled, was almost as stunning as her achievement: leaving behind her body -- disabled with lupus and arthritis that has confined her to a wheelchair -- to enter a newly created, computer-generated world called There.
It is a meticulously designed, three-dimensional virtual reality, or metaverse. In it people are represented by avatars, cartoonlike figures that move about like marionettes speaking through great bubbles of text appearing over their heads. Consumers using high-speed broadband connections can chat -- not just in text, but by voice as well -- and even share streaming music with one another as they talk and play.
The creator of this virtual world, There Inc., is calling it ''the first online getaway,'' a sort of digital Club Med where the guests -- for a fee yet to be determined -- will be able to connect with other people, shop, or simply explore the exotic surroundings.
And while chat is a major feature of There, the company's chief executive, Tom Melcher, said it offers much more, including avatars enlivened with artificial intelligence that look and act more realistically than typical game characters. They appear to breathe. Their eyes blink, and their body language -- controlled by the user or left to software to animate -- is meant to make conversations feel more natural.
''There is not just a new way to communicate,'' he said. ''It's an online place with real-world physics, natural scenery and sounds, and the ability to interact freely with people and objects.''
Of course, computer-generated environments in which users can interact through digital alter egos have been around for years. Almost any computer game that lets a player wield a weapon or throw a punch is, by definition, a virtual world. ''The big idea here is not new,'' acknowledged Mr. Melcher, whose company is unveiling There at the Consumer Electronics Show here. Yet now, powered by a new generation of computer graphics, such worlds are not only proliferating but are increasingly aimed at a mainstream audience.
From the Internet's earliest days, the capacity to communicate electronically without a face or voice was almost instantly compelling. As digital technology improved, creating alternate personas, even digital masks from which people could speak as themselves or as fantasy personalities, became increasingly possible, popular and sometimes problematic.
Today, new online services and games like The Sims Online, which was introduced last month, appear to be tapping into the growing niche of online role-playing.
But executives of There Inc. draw a distinction between their creation and The Sims Online. For instance, Mr. Melcher notes that at its core The Sims Online is strictly a game, one in which players have to be ever mindful of their avatars' health, hygiene, comfort and energy. In There, members' avatars can do practically anything or nothing: make friends, play games, explore the virtual world or sit alone on a mountaintop for hours.
Jeff Brown, a spokesman for Electronic Arts, which publishes The Sims Online, noted that the goal of the Sims is to acquire a kind of material and spiritual wealth by ''being social and developing as part of a community.'' For There, he said, the objective is less defined.


text:
AccorHotels is looking to bolster its presence in the luxury segment by acquiring a 50 percent stake in Orient Express.
The French hotel group will look to develop a collection of hotels operating under the Orient Express brand, which dates back to 1883 when the historic long-distance train first connected Europe’s marquee destinations.
The SNCF Group, France’s national state-owned rail company, had previously fully-owned Orient Express. The seven historic train carriages will remain in SNCF’s possession and will be used by the iconic luxury brand for private tours and events.
Celebrity spending $400 million to renovate fleet
Celebrity Cruises plans to spend $400 million over five years on renovating ships so they will look more like the Celebrity Edge, a ship due in 2018.
Between 2019 and 2023, Celebrity will redesign and reconfigure all staterooms on its nine ships.
The suite lounge known as Michael’s Club on some ships will be rebranded as the Retreat Lounge, a space making its debut on the Edge. There will also be a new Retreat Sundeck.
Irish carrier Aer Lingus will begin flying to Philadelphia next year. The airline revealed the new Dublin-Philadelphia route as it rolled out its updated schedule for summer of 2018.
Flights will begin March 25, when Aer Lingus begins flying four weekly flights between the cities. Aer Lingus will use 177-seat Boeing 757 narrowbody jets for the service.
BACKPACKERS and working holiday-makers are the target of a new $5 million tourism campaign promoting low-cost Aussie attractions, including on Kangaroo Island and the Eyre Peninsula.
The national Aussie News Today campaign — funded by Tourism Australia and launched on Friday — will beam tongue-in-cheek bulletins by three “minor local celebrities” into the social media feeds of millions of potential young travellers. Eight foreign competition winners will also roam the country in campervans as part of the campaign.Add to Flipboard Magazine.


text:
Michael Geist sez,
The IFPI, the global recording industry association, recently released its Recording Industry in Numbers 2012, which provides detailed sales data from countries around the world. Years ago, the Canadian Recording Industry Association would promote its annual sales data, but it no longer does. Perhaps that is because the data tells a far different story from the one CRIA (now Music Canada) seeks to promote. While CRIA talks about "rebuilding the marketplace", the industry's own data indicates that Canada already stands among the global leaders in digital music sales.
The most obvious metric (and one relied upon by IFPI) is paid digital music downloads. According to the IFPI data, Canadians purchased 94.2 million single track downloads in 2011, making it the third largest market in the world (trailing only the U.S. and UK). The Canadian numbers represented a 39% increase in sales, far ahead of the U.S. (8% growth) and U.K. (10% growth). The data shows Canadians purchased more single track downloads than Germany or Japan, and more than double the sales in France, despite the fact that each of those countries has far larger populations. In fact, Canadian sales were larger than all the sales from Austria, Belgium, Croatia, Finland, France, Greece, Ireland, the Netherlands, Portugal, Spain, and Sweden combined. Moreover, given the current growth rates, Canada seems likely to pass the U.S. on per capita single track downloads in about 18 months (not coincidentally iTunes entered the Canadian market 18 months after it debuted in the U.S.).
Not only is the Canadian digital market far larger than virtually every European market, it continues to grow faster than the U.S. digital music market as well. In fact, the Canadian digital music market has grown faster than the U.S. market for the past six consecutive years.
Recording Industry Data Shows Canada a Global Leader For Paid Digital Downloads
BMG Rights Management and Round Hill Music. has been trying to enlist Cox Cable as an accomplice in a copyright trolling scheme, demanding that the company pass on copyright infringement notices that accuse users of downloading music and order them to pay large sums of music or face punishing lawsuits.
In 2014, Britain strode boldly into the late 20th century, finally legalising “private copying” — ripping CDs, taping LPs, recording TV shows, backing up your ebooks and games — but now it’s thought better of the move.
After years of missteps, blunders and disasters in which Youtube users have been censored through spurious copyright claims or had their accounts deleted altogether, Google has announced an amazing, user-friendly new initiative though which it will fund the legal defense of Youtube creators who are censored by bad-faith copyright infringement claims.
Today and tomorrow only we are offering an additional 15% off the entire Boing Boing store (some exclusions may apply). Simply use coupon code: BLACKFRIDAY at checkout! Below are a few of our favorites from the store: First Generation Lytro 16GB Camera: The First Consumer Camera to Capture the Entire Light FieldAdobe Training Videos: Lifetime Subscription: 6,000+ Adobe […]
Today only in the Boing Boing Store we are offering an extra 15% off of the below VPN deals just use coupon code: VPN15 at checkout. proXPN VPN: Premium Lifetime Subscription Surf the web with ultimate peace of mind – both at home and on the road – over proXPN’s fully-encrypted, lightning-fast servers. Your lifetime premium subscription […]
These knitted gloves are here to save the day (and your hands) with an ultra-comfy, double-layer that will allow you to stay warm and use your phone. Now you can take photos on the fly, text, Tinder, and more without letting freezing temperatures get in your way. Plus they work with all touchscreens, so no […]


text: 28-year-old Amy Williams is on a mission to convert people’s attention into funds for good causes. She co-founded Good-Loop in 2016 after stints at advertising giant Ogilvy London, and a soup-kitchen in Argentina, to make ethical behaviour easier for consumers and more profitable for companies. Today working with the likes of Nestlé, Unilever, the Co-Op, Coca-Cola and H&M, Amy’s ‘ethical ad platform’ rewards consumers who choose to watch an ad by donating to their chosen charity, whilst delivering better ROI for advertisers. It’s Yin Yang, win-win. Amy is one of Forbes Europe’s 30 under 30, eConsultancy’s Rising Star of 2019, a face of the United Nations #SheInnovates global campaign and one of Ad Age Europe’s ‘Women to Watch’ 2020.


text:
Study: YouTube dominates kids’ attention
January 19, 2023
Findings from the Precise Advertiser Report: Kids report from research agency Giraffe Insights indicate that YouTube dominates most categories in terms of viewership and performance, with nine in 10 kids surveyed saying they consume YouTube content.
Furthermore, 84 per cent of kids say YouTube is the main way they consume video content, with 40 per cent of kids spending up to two hours a day on YouTube. YouTube viewership for kids is also growing on connected TV (CTV), while viewership on portable devices is shrinking.
A new trend emerging is TikTok as a performance channel, with the study revealing more than 50 per cent of kids have bought or asked for something they have seen advertised on TikTok. TikTok appears to be following a similar trajectory as YouTube, with Precise TV’s previous PARK studies reporting YouTube ad recall is superior to broadcast TV. In fact, this latest report reveals that half of kids remember seeing an ad on YouTube, with kids asserting the ‘best commercials’ they see are on YouTube.
The survey was conducted with 2,000 families in the United States, including kids between the ages of two and 12 years old and their parents. Precise TV and Giraffe Insights conduct studies every few months to keep a close pulse on the emerging trends surrounding family viewership habits and household spending patterns. Producing this report is tied to Precise TV’s mission to provide responsible COPPA (Children’s Online Privacy Protection Act)-compliant ways for brands to get in front of kids and their parents enjoying popular content – from shows to games.
“These findings suggest that TikTok has more reach with kids in the US than Instagram and Snapchat combined, but YouTube is still winning overall attention thanks to its prominent role as the top video platform families enjoy on their connected televisions,” notes Christian Dankl, Precise TV Co-Founder and Chairman. “The report also reveals critical insights such as YouTube commercials still being kids’ favourite, while uncovering new findings such as TikTok ads gaining popularity and driving a lot of household purchases. I’m keen for these insights to further fuel Precise TV’s contextual intelligence engine and help our partners drive better sales in 2023.”
Adding a layer of intrigue to the YouTube and TikTok narrative, the PARK study also examined the emergence of YouTube Shorts, YouTube’s short-form entertainment response to TikTok. It seems YouTube knows the power of its ads and is using some YouTube ad inventory to market YouTube Shorts and drive people from YouTube to YouTube Shorts. The report reveals:
- 50 per cent of kids who watch YouTube are aware of YouTube Shorts.
- Four in 10 kids who watch YouTube also watch YouTube Shorts.
- A fifth of those who have watched YouTube Shorts also remember seeing YouTube Shorts ads on YouTube.
The report goes on to disclose a myriad of findings to help modern marketers influence household purchasing decisions. A few examples of insights include:
- Almost all parents co-view content with their child, with nearly half doing this on a daily basis.
- Seven in 10 parents say their child has asked for something from a commercial they have seen while co-viewing.
- One in 10 parents have bought something via a QR code.
- LEGO tops brand awareness and 66 per cent of families surveyed own LEGO toys.
“Insights from this report are particularly critical for toy and gaming companies navigating the rough economic seas ahead,” says Holly Paxman Gibb, VP of Kids Media Sales at Precise TV. “We don’t simply want this information out – we’re eager to sit down with brands to discuss what these trends mean and how they can take meaningful action to boost the performance of their video marketing campaigns.”
“We’ve tailored our research to identify the most critical trends surrounding families,” adds Sadie Buckingham, Insight Director at Giraffe Insights. “We’re confident this report will prove worthwhile for marketers aiming to better understand the dynamic relationship between kids and parents.”


text:
In a move that is sure to shake up the venture capital scene, United Talent Agency has announced the launch of its own investment fund. The new venture is called UTA.VC, will focus on startups that are centered around culture and technology. This includes everything from Web3 startups to the “creator economy.” Investcorp, a previous stakeholder in UTA, is partnering with the agency to make this all possible.
UTG.VC will be led by Anand Radhakrishnan, who serves as the managing director of Investcorp’s United States private equity division. He will be joined by UTA general partners Caroline Jacobs, Clinton Foy, and Sam Wick.
UTA Ventures, the investment subsidiary of the agency, has been investing in startups since 2014. Some LA-based companies they have invested in include Pluto TV, NTWRK, and Cloud9 Esports. UTA Ventures was also an early investor in firms that are now tech giants, including Patreon, Lyft, MasterClass, and Cameo.
This is an incredibly exciting development for both UTA and the startups that they will be investing in. There is a lot of potential for growth and success in this new venture. We will be sure to keep you updated on all the latest news and developments from UTA.VC.
LAStartups.com is a digital lifestyle publication that covers the culture of startups and technology companies in Los Angeles. It is the go-to site for people who want to keep up with what matters in Los Angeles’ tech and startups from those who know the city best.


text:
It’s not for nothing that Nestlé calls its Asia, Oceania, Africa region “Zone CNN”.
Typhoons, floods, and civil strife in this part of the world tend to feature not just on the TV news bulletins, but also make life tougher for the world’s largest food company by sales.
Tough but not impossible, for despite the various local problems, the maker of Nestlé coffee, KitKat chocolate bars and Maggi soup Thursday reported an increase in its annual sales and profit, in line with expectations.
After all people still need to eat.
But it’s also clear that emerging markets are slowing their rapid rise. For Nestlé, sales generated in emerging markets, for so long the driver of growth, slowed their rate of increase during the year to 11% from 13.3% in 2011.
In Zone Asia Oceania Africa, the decline was to 8.4% organic growth from nearly 12% in 2011, in part due to-one offs during the third quarter such as the demonstrations in Pakistan that led to five days of lost distribution, typhoons in the Philippines that resulted in factories closing there for a week. There were also disruptions from the elections in Egypt, as well as the impact of the oil sanctions on Iran.
With such a vast area, problems like this are likely to remain ongoing hazards.
[More over the jump]


text:
iPhone Hacker Geohot is working for Facebook
Geohot is famous iPhone and Sony Playstation hacker, the creator of blackra1n and limerain jailbreak methods, as well as blacksn0w unlock. Now he works at Facebook.
Joshua Hill (P0sixninja) recently mentioned this fact in an interview.
Geohot started working at Facebook in May and actually announced it on his Facebook account on June 17th:
"Facebook is really an amazing place to work...first hackathon over."
This means that we should not expect any new iPhone jailbreak and unlock utils from him.
Follow us on


text:
More than a handful of news sites are reporting that Microsoft has revealed the final shipping versions of Windows Vista. Those sites are incorrect. Microsoft has not announced the final shipping editions, or "SKUs," for the much-anticipated operating system. Upon seeing the reports, I decided to confirm my skepticism with my contacts.
While it is inaccurate (and not to mention sloppy) to report that the official list has been published or released, questions still remain regarding whether or not this list bears any strong resemblance to what we expect to see once an announcement is made.
In short, my answer is yes.
The following is the list derived from Microsoft's temporary documentation:
- Windows Starter 2007
- Windows Vista Home Basic (including "N")
- Windows Vista Home Premium
- Windows Vista Business (including "N")
- Windows Vista Ultimate
- Windows Vista Enterprise
Credit & More Info: ars technica


text:
One of the challenges that have tasked the ingenuity of the 8th Senate under the leadership of Senator Bukola Saraki is the plight of Nigerians in the current economic crisis. And as expected, it brought out the best in Dr. Saraki, to the extent that his colleagues nick-named him, “the Ambassador of Made in Nigeria.”
Despite the flood of interest groups paying him courtesy visits way back in 2015 – when he had barely become the Senate President- and despite the various distractions, he was able to rise to the task as he made the campaign to promote ‘Made in Nigeria’ goods one of his preoccupations both in words and in action.
He was paid visits by the National Economic Summit Group (NESG), Manufacturers Association (MAN), Amalgamated Traders Associations from Southeast, the Innoson Vehicle Motor Manufacturers. This was apart from his canvassing and articulating several economic reforms. In all the visits, he has one sound response: Buy Made-in-Nigeria goods, and support Nigeria-made goods. In one of such visits, the Senate President, Dr. Bukola Saraki urged Nigerians to patronise Made-in-Nigeria goods in order to develop the economy, emphasising that ‘Senate cannot legislate patriotism’.
He further told his audience, “there is need for Nigerians to begin to look inwards as far as locally made goods are concerned. The Senate since inception has maintained that we will always put Nigeria first. Once the procurement Act gets signed into law by Mr. President, MDAs would have to first demand for made in Nigeria goods before they look elsewhere. We have also urged Mr. President not to wait for the legislators but to take steps to compel government agencies to buy Nigerian made goods. People from the public sector must be made to demand for these made in Nigeria goods too.”
To Saraki, this is the only way out of the present economic crisis. To see through his view, the Senate President encouraged and supported the Senate amendment of the Public Procurement Act, where it was stated that since the Ministries, Departments and Agencies (MDAs) are the biggest spenders, that they should be made to first and foremost patronise locally made Nigerian goods before purchasing foreign made goods.
As a precursor to this, the Senate has passed a bill that mandates all MDAs to give first option priority to Nigerian businesses in the procurement process. In the Public Procurement Amendment recently passed by the Senate, Saraki encourages those who have chosen to invest in Nigeria, saying, “as we promote ‘Buy in Nigeria’, we must also promote ‘Made in Nigeria”. The amendment of the Public Procurement Act will also support the implementation of the 2016 Budget by slashing the days for processing contracts in half.” To the Senate President, the Public Procurement Bill is aimed at making the procurement system work on behalf of all Nigerians, support the implementation of the budget, and stimulate the growth of the Nigerian economy by creating more opportunities for small and medium scale business owners. According to the Senate President, “it is our hope that a substantial percentage of the N6 trillion in the 2016 Budget will be retained in Nigeria and in the pockets of Nigerians.”
The Senate has already sent this bill to the House of Representatives for concurrence, after which it will be sent to the President for assent.
As part of the Senate President’s support for Made in Nigeria goods, Saraki recently stocked his wardrobe with dresses made by Aba tailors. He wore such attires to the plenary sessions of the Senate to the admiration of his colleagues, who in turn started emulating him by adoring their wardrobes with Made in Nigeria attire.
So, it is not surprising that the Nigerian Economic Summit Group (NESG) is thinking alongside with the Saraki-led Senate in the campaign to promote and support Made-in-Nigeria, making it the theme of their 2016 Summit. It is nothing but a situation where two great minds think alike and aloud. But, “Made-in-Nigeria” is not just a popular slogan gaining traction. It is a call-to-action for every Nigerian to show their national pride and to invest in their country and in themselves. “Made-in-Nigeria” is beyond NESG and it is beyond the Senate President. Made-in-Nigeria are three words that hold the power to transform the present and the future of this great nation.
By Chuks Okocha, Special Assistant to the Senate President on Print Media


text:
Australia has the sixth highest household Subscription Video On Demand (SVOD) household penetration globally. according to Ampere Analysis.
Mega Movie Week, the British Association for Screen Entertainment digital film promotion run in January, came in for criticism at this week’s Entertainment Retailers Association AGM.
Get ready for a slew of Sci-Fi & Fantasy and Crime & Thriller series from the new SVOD players. Thanks to the release of Netflix and Amazon originals, such as the just-launched Carnival Row, Ampere Analysis research suggests 27% of scripted commissions across six new SVOD services are Sci-Fi & Fantasy, followed by Crime & […]
Monday marks the beginning of Christmas shopping season, according to eBay.
Working Title’s 19th-century biopic Radioactive, starring Rosamund Pike as Nobel Prize-winning scientist Marie Curie, will have its world premiere at the closing gala of the Toronto International Film Festival on Sept. 14.


text:
According to a Gartner report, 89 percent of surveyed companies plan to compete among their peers by boosting their customer service in 2016, a dramatic increase from 58 percent in 2015. This just confirms how important customer experience is to any business and if they want to climb their way or stay on top, businesses need to focus on providing exceptional customer experience.
Extraordinary customer service is the hottest trend in business today – take a look at what trends will help shape it in 2016.
5 Customer Service Trends in 2016
1. Omni-channel presence, all the time
Omni-channel retailing is the future of e-commerce according to Deloitte’s Point of View. This comes as no surprise as 95 percent of customers use more than one channel to communicate with companies. As businesses make their presence known across multiple channels (voice, chat, web, social media, etc.), they need to integrate (combining and aligning) these channels to create a congruent customer experience – 87 percent of customers see the need to provide a seamless experience. Businesses need to be consistent and offer continuity across contact points to make it easy for customers to switch channels with whatever is convenient for them. Aberdeen says that companies with a strong and integrated omnichannel presence have 89 percent customer engagement compared to 33 percent for companies with weak omnichannel integration.
2. Mobile-first customer experience
This trend has been going around for years but companies have been slow to adapt it to their customer service delivery channels. This has got to change as ComScore recently revealed that mobile users have now outnumbered desktop users and by next year, mobile searches will generate 27.8 billion more queries than those done through desktops.
This means companies should focus on mobile customer experience, developing or enhancing their mobile apps to improve customer interactions.
3. Self-service tools will be a priority
Gartner lists self-service as one of the top three planned customer experience projects by companies surveyed this year. Fifty percent of customers believe it’s important that they can solve product issues themselves, and 70 percent expect a company’s website to have a self-service application. The aim of strengthening self-service options is to empower consumers and boost shoppers’ confidence, directly increasing sales.
4. Call-back option will be priority for voice channels
Did you know that a third of customers believe that companies should never put people on hold? In fact, 60 percent of customers will abandon a call after just a minute of waiting on hold. Hold times mean lost productivity and companies lose $900 per employee from this alone. If customers have a choice, 64 percent of them would gladly text with customer service agents instead and 61 percent of them prefer the call-back option.
By doing call-backs, companies help make customers feel respected, important and happy. As voice continues to be the preferred customer service channel consumers use on a regular basis, agents should be trained to do call-back options and companies should invest on equipment that allows agents to trace call-back requests, record them and integrate them into their CRM tools.
5. Predictive analytics will help shape customer experience delivery
More companies will know how to use, not just collect data. According to a recent Gartner survey, companies who implemented customer experience projects first focused on the improvement of their customer feedback data collection and analysis. Predictive analytics will be used improve customer conservation guides in real-time, allowing for more personalized customer experiences.
Customer Service Requires Investment
Businesses need to realize that in order to gain customer loyalty they need to invest in customer experience. Your relationship with your customers is the key to your future success.
Investing on customer service means three things: investing in the right technology, listening to the voice of the customer and having engaged employees/customer service agents. Sixty-two percent of companies view customer experience provided through call centers as a competitive differentiator according to Deloitte.
Utilizing the right technology helps you listen to your customers more effectively and empowering employees helps them deliver better service to your customers.


text:
One of leading potato growers in Cornwall in the UK has become the latest producer to put its trust in Haith Group. In 2020, with demand for homegrown produce soaring, E W Button & Son decided to invest in a brand new, purpose-built grading facility for its early season and ware potatoes.
Following a recommendation from a neighbour, Joe Button decided to engage Haith to design and install his new potato grading system. Commissioned last month, the line, which can handle 30 tonnes per hour, features Haith’s latest innovations.
The Cornish potatoes are tipped directly from the tractor-trailer into a Haith Supa-Flow Bulker. The 2.4m wide bulker features dual direct drive, double incline belt for easy loading, and a crop flow control unit where sensors control the speed of the bulker.
The crop passes through a Haith Evolution Multi-Separator and into a Tomra 3A Optical Sorter, which removes stone, clod and green potatoes from the dirty crop before entering a series of eight Haith Supa-Flow screen graders.
The screen graders feature three full-width agitators that can run at various speeds and feature dual roller screen drives and a crop unplugging roller in a maintenance-friendly yet robust construction.
Once size graded, the potatoes are filled into boxes via SupaFill 400 box fillers. Controlled by a touchscreen HMI, these fillers are gentle on the crop and feature rubber door stop belts multi box height filling functionality.
As a result of the new grading line, Joe and his team have seen throughput speeds increase by 35% and a significant improvement in crop quality with no mechanical damage and the majority of stone and clod removed.
“Our old line was starting to show its age and was nowhere near as effective as this new Haith line,” says Joe.
“Demand for homegrown produce has rocketed in the last couple of years, and we needed to invest in a new line to keep up. Haith has an excellent reputation, and we’ve never had a problem with the box fillers that we bought from them last year, so it was an easy decision to put our trust in the Haith team.
“We’re really pleased with the new line, and it’s made a real difference in just a few weeks of running it.”
The Button family has been growing potatoes, blueberries and cereals at Tregawn Farm since they bought it in 1939. Benefitting from the coastal climate, EW Button & Sons supplies its salad, main crop and processing potatoes to major supermarkets, processors and exporters.
“Cornish potatoes are delicious, and it’s fantastic that they are growing in popularity,” says Duane Hill, sales director at Haith. “We have several customers in Cornwall, and this latest project further strengthens our presence in the county. This line has been designed to meet Joe’s precise needs, and we are delighted that he has continued to trust Haith to handle his exceptional produce.”


text:
US consumers are expected to spend an average of $73.42 per person to celebrate Independence Day this year, up from $71.34 last year, according to an NRF survey, which also forecasts that food spending for the holiday will hit $7.1 billion. About 44.2 million people plan to travel more than 50 miles for a long July 4 weekend, according to AAA.
Amazon's deal to acquire Whole Foods Market could bring new challenges for Target, which recently launched a three-year revitalization and store redesign plan with food playing a key role. "Whatever competitive pressures were out there before today are now accentuated with this move," Morgan Stanley Analyst Simeon Gutman said.
Kroger sold 8.2 billion units of private label goods last year, marking a record for the retailer, and it will look to build on that success by adding more exclusive products to its 30,000-SKU private label lines, the company said. The retailer has expanded its private label lines by about 60 items per month for the last year and a half and has added about 1,000 products to its private label offerings so far this year.
Kroger has adopted a new mission statement to "Feed the Human Spirit," marking the retailer's shopper-focused strategy to cater to consumers' needs in today's rapidly changing retail environment, Chairman and CEO Rodney McMullen said Thursday. "Kroger has evolved many times over 134 years. We have successfully adapted and competed thanks to our relentless focus on customers and that is why we are confident in our ability to evolve today," he said.
Builders of downtown Chicago's new Apple store added a gigantic logo to the roof, making the store look like a big MacBook. The rectangular roof is made of lightweight materials used in yacht hulls.
A group of subdistributors for Kellogg are asking for compensation after they were let go from their jobs when Kellogg changed distribution from direct-store delivery to the warehouse model. The subdistributors are threatening a class-action lawsuit if Kellogg does not respond.
Sears Canada was granted protection from its creditors Thursday, giving it 30 days to restructure under a plan that calls for the closure of 59 stores or about one-third of its locations. The retailer will shutter all 10 of its outlet stores and 20 full-line department stores, as well as locations under the Sears Hometown and Sears Home banners.
Banana Republic has teamed with textile supplier Piece & Co. to introduce a collection of summer styles created with sustainable fabrics hand crafted by women in South Africa and Ghana. The capsule collection will go on sale next week online and at stores in Japan and North America.
After relocating to be closer to family, Chris Guttmacher opened Blue Bag Records in Cambridge, Mass., with a goal to fill the small store with interesting vinyl selections. "We let the records speak for themselves and it has a friendly, laid-back vibe," said Guttmacher, explaining the aesthetic of his store.
- Page 1


text:
Groupe SEB today announced that while the steam generator category grew 2.2 per cent in value over 2008, according to GfK data, its Tefal brand achieved massive growth in the category of 41.7 per cent in value.
Groupe SEB Marketing manager, Filiz Bensan emphasised the company’s number one position in brand share.
Marketing manager, Filiz Bensan was very enthusiastic about the news and also emphasised the company’s number one position in brand share.
“This is a fantastic result. The Tefal brand is number one, with 55 per cent value share. The range has performed very strongly due to the launch of very innovative products that target key price segments,” she said.
“Consumers have responded very positively to the new range with strong sales across all models. This success has also been achieved through strong promotional support activity.”
Bensan was very optimistic about the category and is keen to further the growth.
“Our overall objective is to further grow this category with strong in store support covering demonstration, training, educational point of sale and consumer promotions,” she said.
“We will continue to invest into this category and add value to our retail partners. We want to remain the leading brand in this segment and believe that we have a strong marketing program in place to drive growth in the category this year.”
For Mothers Day, Tefal is offering consumers up to $100 cash back across selected models. Customers who purchase a GV9150/GV9360 will receive $100 cash back. Consumers will also receive $75 on the GV8150/GV8360, $50 on the GV7150, $25 on the GV6920. The Steam Generator range is also supported with a 30 day money back guarantee.
“We are very confident in our range of steam generators. Having this offer gives the sales staff an extra tool to trade up consumers, especially those who are not familiar with or have not used one before. It is a great way to bring new consumers into the category,” Bensan said.


text:
Shein, the global online fast fashion retailer, has gained immense popularity with its extensive clothing offerings and unbelievably low prices. However, beneath the surface lies a host of controversies surrounding the company.
From human rights violations and environmental concerns to allegations of design theft, Shein’s practices have raised significant ethical and health-related issues.
This article sheds light on the various problems associated with Shein and explores the implications of its strategic partnership with Reliance Retail for its comeback in the Indian market.
The Hidden Costs of Shein’s Low Prices
While Shein’s affordable prices may seem like a bargain, there are hidden costs associated with its business model. The company’s manufacturing and production practices are often unsustainable and violate labor laws.
Shein introduces over 2,000 new items to its store daily, with some priced as low as $5. To maintain such low prices, Shein heavily relies on workers in Chinese factories who endure grueling conditions and receive meager wages.
Investigative reports have revealed instances of employees working 75-hour weeks with minimal pay, laboring in unsafe environments without proper ventilation or emergency exits. These practices reflect a blatant disregard for human rights.
Environmental Impact and Clothing Waste by Shein
Shein’s production volume has a severe environmental impact. The carbon emissions generated by its manufacturing processes are equivalent to those emitted by 180 coal-fired power plants.
Despite setting a target to reduce emissions by 25% by 2030, Shein has yet to implement significant changes to achieve this goal.
Additionally, the company extensively uses cheap polyester in its clothing, which contributes to the overflowing landfills of non-biodegradable garments. Polyester can take up to 200 years to decompose, exacerbating the environmental damage caused by Shein’s fast fashion model.
Toxic Chemicals in Shein Clothing
The low-quality construction of Shein’s clothing raises concerns about the presence of toxic chemicals. Lab tests conducted on Shein garments revealed elevated levels of lead and other chemicals.
Notably, children’s clothing was found to contain dangerous amounts of lead, posing significant health risks to young wearers and pregnant individuals. Exposure to lead during pregnancy can result in miscarriages, premature birth, and birth defects, while children exposed to lead face developmental and learning issues.
The use of synthetic dyes in Shein’s manufacturing processes may contribute to the presence of such toxins in the clothing, raising further concerns about consumer safety.
Allegations of Design Theft
Shein has faced multiple accusations of stealing designs from artists and designers. Creators have shared stories online, showcasing instances where Shein released products strikingly similar to their original designs without permission.
Despite the allegations, Shein has largely escaped legal consequences, leaving many independent designers frustrated and powerless. The prevalence of these design theft incidents has even led to the creation of the hashtag #sheinstolemydesign on TikTok, highlighting the extent of the problem.
The Shein-Reliance Retail Partnership and Indian Market Entry
Reliance Retail, in a strategic partnership, plans to reintroduce Shein to the Indian market after a two-year ban.
The partnership grants Reliance Retail full ownership and control, signaling a comeback for Shein. As part of the collaboration, Shein will develop an application enabling Reliance Retail to onboard thousands of micro, small, and medium-sized enterprises (MSMEs) to sell their products to Shein’s global customer base.
Additionally, Shein will launch a website and express its intention to increase sourcing from India, potentially reaching a value of Rs 50 billion in the coming years. Despite its previous success in India, concerns over Shein’s governance and transparency persist among many consumers.
To conclude, Shein’s rise as a global fashion giant has been accompanied by a series of controversies.
The company’s disregard for human rights, unsustainable manufacturing practices, and potential health risks associated with its clothing raise significant ethical concerns.
Furthermore, allegations of design theft further tarnish Shein’s reputation. Despite these issues, Shein is set to make a comeback in the Indian market through a strategic partnership with Reliance Retail.
While the partnership aims to facilitate the entry of Indian MSMEs into Shein’s global marketplace, concerns about Shein’s governance and transparency persist.
It is essential for consumers to consider the true cost behind Shein’s low prices and make informed choices when it comes to supporting sustainable and ethical fashion.
Keep reading 👇👇
we are part of the economy hut core content, we like to make the content which is easy to read and understand to any reader who is having curiosity about the economical issues, we are always open for all the suggestions, criticisms, etc. From all the readers. Let us understand the economy in an easy manner.


text:
Toshiba Corporation and Samsung Electronics Co., Ltd., both based in Japan, revealed the details of their new joint venture for optical-disk drives (ODD), as initially announced in a memorandum of terms announced on Sept. 22, 2003.
The new joint venture, Toshiba Samsung Storage Technology Corporation, will start operation on April 1, 2004. The company will integrate product and business planning, product development, procurement and sales and marketing of ODDs, including CD-ROM and DVD-ROM drives. Toshiba Samsung Storage Technology Corporation will be headquartered in Japan with a wholly owned subsidiary in Korea.
The new joint venture will construct a competitive business structure that promotes optimized use of management resources and leadership in the global market.
to Daily News


text:
Apple’s iPhone 14 India manufacturing shows maturity of India production capabilities: Moody’s
Apple’s plan to manufacture the latest iPhone 14 models in India within weeks of the global launch demonstrates the maturity of the company’s manufacturing capabilities in India which can be ramped up quickly, according to a report from ratings agency Moody’s.
“Apple’s plans to manufacture iPhone 14 products in India is credit positive because it will diversify its manufacturing base that is highly concentrated in China,” said Raj Joshi, senior vice president, corporate finance group, ..
Read more at: ECONOMIC TIMES
Leave a Reply


text:
Welcome! Log into your account
Forgot your password? Get help
Recover your password
A password will be e-mailed to you.
The Volkswagen Golf GTI TCR does not come with a manual, 290 hp &...
Feb 22, 2019 5:15 pm
Almost one year since the Volkswagen Golf GTI TCR Concept made its global debut in Austria, the race-inspired Golf GTI will be going on sale in...
Michelin unveils new Primacy SUV+ tyres with improved wet and dry...
BMW celebrates 50th anniversary of M with limited edition ‘50 Jahre’...
Special-edition Porsche Taycan GTS revealed to celebrate the Hockenheimring circuit
Nissan’s first fully-electric ‘kei car’ looks as heart-warming as its name
Advertise with Us!
© BIG BUZZ MEDIA SDN BHD


text:
The European PET market is currently in a state of turmoil, which has principally been caused by a lack of PTA feedstock and reduced imports, according to Wood Mackenzie Chemicals Head of PET, Phil Marshall.
In a statement made 25 May, Marshal said major PTA producers in Europe have recently run into a range of technical issues.
This, he said, has resulted in two PTA producers declaring force majeure, which has impacted PET production.
The pressure comes at a time when inventories have been low and the beginning of the peak season has seen imports down from Asia – a region where local demand has been strong.
“This is frustrating local producers who are struggling to fulfil orders at a time when prices are rocketing for spot material,” noted the Wood Mackenzie expert.
Early May saw offers of €1200/tonne, while for June that figure is coming in at closer to €1450/tonne, according to Wood Mackenzie.
In light of that, Marshal warned that there “a real possibility” that a collection of brand owners would not be able to put all they want on shelves in the near future.”
“This could see the localised restriction of some products and 'own product' brands may become restricted. Additionally, products with modest sales may be unavailable for a short time, which will have a knock-on effect for consumers,” he noted.
According to Marshal, such tightness in the PET market “has not been seen for many years”.
This could prompt some idled plants to re-start, but the real prospect is that some spot product could be seen in excess of €2000/tonne in Q3.
“[This is] something that would have been unheard of 6 weeks ago,” Marshal concluded.


text:
Online gaming has emerged as a popular form of entertainment, creating virtual communities that transcend geographical boundaries. While the gaming industry has traditionally been male-dominated, the tides are turning as more and more women are breaking barriers and making their mark in this dynamic world. This article explores the remarkable journey of women in online gaming, their challenges, and the steps being taken to empower and support their participation. Immerse yourself in high-quality graphics and captivating gameplay on lucky cola platform.
The Rise of Women in Online Gaming
In recent years, the number of women engaging in online gaming has steadily increased. According to a study by the Entertainment Software Association, women now constitute nearly 46% of the gaming population in the United States. This growing participation demonstrates the increasing appeal and accessibility of online gaming platforms.
Breaking Stereotypes and Challenging Gender Norms
Historically, gaming has been stigmatized as a male-dominated activity, perpetuating gender stereotypes that hindered women’s participation. However, women have shattered these stereotypes, challenging the notion that gaming is exclusively for men. With the rise of female gaming icons and influencers, such as Imane “Pokimane” Anys and Katherine “Mystik” Gunn, women have carved out spaces for themselves in the gaming community, inspiring others to follow suit.
Overcoming Challenges in Online Gaming
Despite the progress made, women in online gaming continue to face unique challenges. One major hurdle is the prevalence of online harassment and toxicity. Female gamers often encounter sexist comments, harassment, and derogatory behavior from some male players, which can create a hostile gaming environment. This toxic culture not only affects the mental well-being of women but also hinders their ability to fully participate and thrive in the gaming community.
Empowering Women: Initiatives and Organizations
Recognizing the need for change, various initiatives and organizations have emerged to empower women in online gaming. One notable organization is the “Women in Games” (WIGJ) network, which aims to support, inspire, and promote women in the gaming industry. WIGJ organizes events, conferences, and mentoring programs to provide networking opportunities and facilitate career growth for women in gaming.
Additionally, major gaming companies are stepping up to address the gender gap. For instance, many companies are actively recruiting and promoting more women in their development teams to ensure diverse perspectives in game creation. By fostering an inclusive work environment, these companies aim to create games that resonate with a wider audience.
The Impact of Representation
Representation plays a crucial role in empowering women in online gaming. When female characters are portrayed as strong, independent, and capable within games, it sends a powerful message to players. Games such as “Tomb Raider” featuring Lara Croft and “Horizon Zero Dawn” with Aloy as the protagonist have made significant strides in representing strong female characters, inspiring players of all genders and encouraging women to participate in gaming.
Promoting Inclusivity through Community Engagement
Building supportive communities is key to promoting inclusivity in online gaming. Platforms like Twitch, YouTube, and Discord have become essential for connecting gamers worldwide. Female gamers are leveraging these platforms to create safe spaces where they can share their experiences, network, and find like-minded individuals. Additionally, community-driven initiatives, such as women-only gaming events and tournaments, provide opportunities for women to compete, showcase their skills, and gain recognition.
Education and Skill Development
Encouraging women to pursue careers in game development and related fields is crucial for long-term change. Educational institutions are recognizing the importance of creating programs that encourage and support women in game design, coding, and other gaming-related disciplines. By providing equal opportunities and resources, these institutions empower women to acquire the skills necessary to succeed in the industry.
The world of online gaming is gradually transforming into a more inclusive space, with women breaking barriers and making significant strides. The increasing representation of women in gaming, coupled with initiatives that promote empowerment, is gradually dismantling the longstanding gender stereotypes within the industry. By addressing the challenges, fostering an inclusive environment, and providing opportunities for skill development, we can create a world of gaming that truly reflects the diversity of its players. As we continue to break barriers, empower women, and challenge gender norms, online gaming will undoubtedly become a more welcoming and inclusive space for all.


text:
DENVER (PRWEB) December 15, 2015 -- LivWell, Colorado’s leading cannabis company, was recognized with top honors by two cannabis industry awards programs last week. LivWell won in two categories at the 2015 CannAwards Colorado ceremony, including Best New Product for its Chem Dawg #4 x Alien OG Kush flower strain and Most Innovative Service for its intranet platform. In addition, John Lord, LivWell’s owner and CEO, was honored with the MVP Award in the 2015 Cannabis Business Awards
“These awards mean so much to us at LivWell because they honor our hard-working employees whose love and passion for the industry shines through in their work,” said John Lord, owner of LivWell. “The Best New Product award highlights our dedicated product research and development team in the cultivation facility, and the recognition of our intranet platform as the Most Innovative Service acknowledges the efforts of our management team to enhance communications for all of our nearly 500 geographically diverse employees.”
CannAwards Best New Product: Chem Dawg #4 x Alien OG Kush
The Best New Product (strain, flower or medical product) category highlights a
groundbreaking and innovative product that has the potential to create a new trend in the Cannabis industry. LivWell won the category for its exclusive sativa dominant hybrid strain, Chem Dawg #4 x Alien OG Kush. This proprietary strain was developed by LivWell’s team of innovative farmers, geneticists and scientists, and is one of LivWell’s top sellers.
CannAwards Most Innovative Service: LivWell’s Intranet
The Most Innovative Service category recognizes a game-changing new service model implemented in 2015 that transformed and delivered better solutions/outcomes for the Cannabis industry. LivWell was honored for its work in building an intranet platform from the ground up in order to provide consistent communications and education for its roughly 500 employees spread across the state.
The Drupal-based platform enhances communications and serves as an information exchange. It’s a communications hub, document repository, conduit for online education and training, event planner, polling station and HR board. The intranet allows LivWell to instantly disseminate breaking company and industry news and developments across its employee base. It also serves as the platform for LivWell’s ongoing education courses (offered online) that enable employees to stay up to date on the newest products and latest regulations to ensure top-notch customer service and full compliance. Employees also engage with the online courses via the intranet to advance their careers by gaining the tools they need to move up into positions with more responsibility and higher pay.
CannAwards winners are selected based on votes cast by the cannabis industry community and CannAwards regional advisory board members. Winners were announced during an awards ceremony in Denver on Dec. 12.
Cannabis Business Awards
The Cannabis Business Awards winners are selected based on votes cast by those in the cannabis industry. Awards are presented to cannabis industry businesses, individuals and organizations in both medical and recreational sectors, as well as ancillary industries. Winners were announced during a ceremony in Denver on Dec. 10.
LivWell is among Colorado’s largest cannabis companies, with four recreational & medical dispensaries, four medical only and two recreational only dispensaries in the state. LivWell provides its patients and customers with the best value, quality and variety of can¬nabis products including flower, topicals, tinctures, edibles, smoking accessories and more. LivWell’s team of innovative farmers and scientists grow more than 40 strains of cannabis to meet the varied and evolving tastes of its customers. LivWell’s searchable strain library can be found at http://www.livwell.com/product-category/strains/. LivWell employees undergo rigorous training and education through LivWell University, preparing them to be the most knowledgeable, helpful budtenders in the industry, and to become advocates of responsible use. LivWell employs approximately 500 Coloradoans who enjoy higher-than-average salaries and benefits. For more information, including a list of LivWell’s locations, visit http://www.livwell.com.
Sarah Sparks, Grit, +1 (303) 362-1458, [email protected]


text:
SAN FRANCISCO -- Tesla Inc. investors should vote against the reelection of board chair Robyn Denholm because directors are being highly compensated and pledging significant amounts of stock for personal loans, the world’s largest proxy adviser said.
Opposing Denholm is warranted because Tesla has failed to give reasonable rationale for consecutive years of high director pay, Institutional Shareholder Services Inc. said in a report. The firm also flagged “significant concerns” about the increase in the number of shares CEO Elon Musk and other board members have borrowed against.
“The increase in pledging activity at the company with the absence of a clear rationale and lack of a more robust anti-pledging policy call into question the audit committee’s ability to effectively oversee risk,” ISS researchers led by Robert Kalb wrote in the report. Denholm, 56, chairs the audit committee.
The recommendation against Denholm is a setback to Tesla following internal and external efforts to improve the company’s governance. Last year, the automaker announced several longtime directors who are close to Musk would leave the board, and members’ terms would be shortened to allow shareholders to vote more regularly on their re-election. In late 2018, Musk agreed to relinquish the chairman role to Denholm as part of a deal with the Securities and Exchange Commission.
The portion of stock Tesla directors and executives have pledged as collateral climbed 36 percent from a year ago to about 4.9 million shares, ISS said. That amount is “excessive” and represents more than 10 percent of outstanding stock, the researchers wrote.
“Pledging of company stock by directors or executive officers can pose a risk to the investments of outside shareholders,” the report said. If they’re forced to sell a significant amount of shares to meet a margin call, it “may negatively impact the company’s stock price and may violate insider trading policies.”
Denholm is one of two women on Tesla’s 10-member board. She’s been a director since 2014 and was appointed chair in November 2018 following an agreement the SEC reached with the company and Musk over his tweets months earlier about taking the carmaker private.
She is also a member of the board’s compensation committee, which ISS criticizes over how much money was awarded to directors last year. The company paid $7.4 million to Kathleen Wilson-Thompson, $5.9 million to Larry Ellison, $2.7 million to Denholm and $1.2 million to Steve Jurvetson.
“These amounts are considered to be significant outliers” compared with directors at other companies, ISS researchers wrote.
Tesla’s annual meeting is scheduled for July 7. Shareholders who rely on their own judgment or research have voted with the company and in opposition to proxy advisers in the past.


text:
Shops, restaurants, bars welcome NYC Football Club fans
The New York City Football Club played its first official home match Sunday at Yankee Stadium, but the impact the new franchise will have on local businesses might be as big as the game itself.
Bars, restaurants and shops on Grand Concourse were packed Sunday afternoon with fans from the Bronx and all five boroughs.
Merchants were already selling out of the team's merchandise.
Vendors are hoping soccer fans will keep supporting the team -- and their businesses -- for years to come.


text:
Own piece of Tanya Tucker's country music history
Country singer Tanya Tucker is hosting an online estate sale for charity.
The "Delta Dawn" singer has partnered with Everything But The House (EBTH.com) to auction mementos from her nearly 45-year career. The first auction will include about 500 curated items ranging from designer stage costumes to a pink 1992 Harley Davidson Screamin’ Eagle motorcycle. The auction starts at 1 a.m. Thursday at EBTH.com and will last for seven days.
Over the course of the summer, 1,000 of Tucker’s items will be auctioned off in two additional auctions.
A percentage of proceeds will be donated to Sweet Relief Musicians Fund, a charity that supports career musicians and industry workers who are struggling to make ends meet while facing illness or disability.


text:
Volvo has recalled more than 730,000 vehicles worldwide due to an issue with the company’s autonomous emergency braking (AEB) system.
The fault was discovered by Danish motoring body FDM while testing an XC60 late last year. The organization discovered that the emergency braking system of the SUV consistently failed, “meaning that the car did not automatically apply the brakes as expected when driven towards a special test pillow that normally would engage the system.”
After publishing its test results, the XC60 was returned to Volvo’s Gothenburg headquarters. Before long, the Swedish car manufacturer discovered the issue is common to all models it has produced since 21 January, 2019. That includes the S60, S90, V60, V60 Cross Country, V90, V90 Cross Country, XC40, XC60, and XC90.
Consumer Reports states that vehicles being recalled feature new AEB hardware that may not be compatible with the software installed on certain vehicles built before March 2020. Consequently, the system may not detect objects or pedestrians in front of the vehicle.
The recall impacts a total of 736,430 cars worldwide and of these, just over 120,000 are located in the United States. Vehicles affected in the U.S. were built between November 9, 2018 and March 11, 2020 and the company says it isn’t aware of any incidents or injuries related to the issue.
Volvo dealerships will rectify the issue by updating the AEB software free of charge. Owners of affected vehicles will be contacted in May.


text:
Bargain-chasing shoppers shake up UK market
Janet Wadsworth abandoned UK grocery giant Tesco for discounter Aldi after the German chain opened a store near her home in the English village of St Bees three years ago.
"It used to be that people might have been embarrassed to be seen at Aldi," says the teacher. "But I think that’s gone."
Ms Wadsworth is part of a new wave of British shoppers chasing bargains with little regard to where they find them. The shift — driven here in large part by two, newly aggressive German discounters, Aldi and its archrival Lidl — has shaken the UK’s $274bn grocery industry to its core. The traditional UK grocer "had huge margins", says David Herro, a fund manager at Chicago-based investment firm Harris Associates, which, until recently, was a large Tesco shareholder.
In the current environment, "it’s like exposing your neck to the discounters, like to a vampire", he says.
Indeed, as the discount-driven German duo expanded offerings, they have stolen away market share from the country’s traditional players. Those grocers, in turn, have seen their stock prices plummet, triggering executive ousters, layoffs and billion-dollar write-downs.
Such turmoil here is reminiscent of some of the same industry headwinds hitting grocers elsewhere — particularly in the US. With discounters on one end, and upscale grocery chains on the other, opposing forces are pressuring profits. The result has been forced consolidation and, in some cases, more desperate measures.
On Monday, Tesco, the UK’s largest retailer, said it had agreed to sell its South Korea business for $6.1bn in cash — a retrenchment that comes after the grocer has also quit Japan and the US and been forced to strike a joint venture for its Chinese operations as it works to stem the slide in market share back home.
"Our business has not been as competitive in recent years as we would like it to be," acknowledged Tesco CEO Dave Lewis on an April conference call.
Andy Clarke, CEO of Wal-Mart Stores’s Asda, Britain’s second-largest grocery chain, has been more blunt, calling the goings-on "the worst storm in retail history".
Similar challenges are washing up on US shores. A&P, America’s first traditional supermarket chain, with roots dating back to 1859, said in July that it would close or sell its remaining stores as part of its bankruptcy filing. The move comes after years of it being squeezed by an array of new competitors, such as Whole Foods Stores on the high-end to cheaper alternatives like Wal-Mart and Aldi.
Seeking scale in the US and Europe, Dutch grocery giant Royal Ahold and Belgian rival Delhaize Group agreed in June to merge in a deal that will create a $29bn titan — combining American chains like Food Lion and Stop & Shop.
The $1-trillion US grocery market remains largely regional and fragmented, despite a wave of consolidation in recent years. That insulates it somewhat from the sort of carnage ravaging the UK market. Here, the country’s four biggest grocers are national chains that butt heads everywhere, and on everything from online deliveries to supplier relationships.
But now, the two scrappy German discounters that have wreaked the most havoc in Britain are ratcheting up their US ambitions.
In June, Aldi’s US operation said it would pour about $3bn into opening new stores, including across the large southern California market. It plans to operate 2,000 stores by the end of 2018, up from the 1,400 it runs now across 32 states.
Kroger, by comparison, operates about 2,600 stores in 34 states. A day after Aldi’s US announcement, Lidl — owned by Germany’s Schwarz Group, Europe’s largest retailer — fired back, outlining its own plans to enter the market, probably by 2018.
Analysts and others say the moves threaten to pressure discount chains like Wal-Mart and Supervalu’s Save-A-Lot, but could also further shake up the wider US market.
"They’re on everybody’s radar in the US today," says Craig Rosenblum, partner at retail consultancy Willard Bishop, of Aldi and Lidl, adding: "Everybody knows how successful they are in Europe."
Long looked down on in class-conscious Britain, no-frills Aldi and Lidl gained traction only after the recession here. At the time, the country’s biggest grocers kept jacking up prices, even as unemployment jumped and customers tightened their purse strings.
"At a time of slow to declining volumes, they attempted to raise prices and widen margins," says Andy Higginson, chairman of number four British chain Morrison and a former board member at market leader Tesco.
"Customers recognised this and voted with their feet."
Aldi and Lidl acted swiftly, ramping up advertising and expanding their product lines to include more fresh produce and baked goods. The two chains together now command 9.7% of the British market as of August 16, according to research company Kantar, up from 5.9% three years before.
Even their competitors acknowledge the creeping threat. "I believe the discounters will get to 15% of the UK grocery market by 2022," said Sainsbury’s CEO Mike Coupe at a meeting with journalists in May.
Aldi and Lidl, he said, were "formidable competitors."
The chains have kept prices low by prioritising speedy store deliveries, efficiency and high turnover at the expense of breadth of offerings and customer service. As part of that push, Aldi and Lidl take daily deliveries of a slim range of mainly private-label products, often with the look and feel of popular, branded items.
"By not offering this huge variety we’ve made the offering and our range efficient," says Lidl marketing director Arnd Pickhardt. "We provide just a handful of different mineral waters, about seven, compared with other supermarkets that have a whole aisle full of space" for waters, he says.
The stores’ smaller footprint also saves on costs. Some products are sold directly off the delivery pallets, while others arrive in boxes with open fronts, allowing the staff to quickly move them in bulk onto store shelves without being unpacked from the boxes. Lidl drives its trucks through the night to avoid traffic and save fuel. Both grocers charge for bags, which customers take to packing areas that help keep the register areas moving.
Aldi and Lidl cashiers also do double duty, stocking shelves when things are slow.
"We can operate at a far lower margin because of our efficiency," Aldi UK group buying director David Hills says. "Everyone in our shops needs to do every job from mopping to check outs."
Shoppers have been willing to go with the programme in return for better prices. Nick James, an urban planner in London, used to frequent Sainsbury’s until he wandered into a Lidl to buy a croissant about 18 months ago. Lidl has "funny European brands", he allows, and the stores are not "quite as plush or neatly presented" as those at Tesco or Sainsbury’s, which competes with Asda for the market’s number two position. He says he also finds it "really frustrating" when he cannot find anyone at the cash registers to check out. Still, he has switched to shopping almost entirely at Lidl because "the quality is just the same, but the prices are more affordable".
The Germans’ success is proving calamitous for Britain’s traditional grocers. In the past year, shares of Tesco, Sainsbury’s and Morrison have fallen more than 13% on average, amid profit warnings, billions in property write-downs, and cancelled or slashed dividends. They have axed jobs and closed or shelved plans to open stores. Two of the three have recently ousted their CEs. Yet the results have been a boon for consumers. A loaf of whole wheat bread here now costs an average of 98 pence, down 15% from a year ago, according to the Office of National Statistics.
Shopping has also never been so convenient, with the big grocers expanding their click-and-collect services — allowing customers to order online and pick up from stores, petrol stations or other locations.
Morrison has cut prices on 1,665 products by an average of 16% since the start of last year. Wal-Mart’s Asda, meanwhile, earlier this year plowed nearly £300m into reducing the prices of 2,500 basic items; Sainsbury’s dedicated £150m to fund lower prices.
Tesco had weathered the recession of the early 1990s better than rivals by introducing lines with bare-bones packaging that appealed to cash-strapped shoppers. It rolled out a pioneering loyalty card — now copied the world over — that tracked shoppers’ habits. Memorable TV ads featured a dedicated but hapless Tesco buyer, played by Dudley Moore.
"In that period, Tesco did a good job of understanding the changing environment and readjusting its overall competitive offer," says Terry Leahy, who took over as CEO in 1997. Over the next 14 years, he transformed the chain into a global retail powerhouse, competing on the world stage with Wal-Mart and France’s Carrefour. Then the latest recession hit Britain in 2008 amid the global economic crisis. Unemployment jumped, leaving increasingly panicky customers hunting for bargains. But grocers raised prices — passing along higher commodity costs to defend margins.
Grocery inflation peaked at 9.3% year-on-year in October 2008, according to Kantar. "They had such a strong grip on the market that obviously they felt they could do it," says Bruno Monteyne, a Sanford C Bernstein analyst who worked as a Tesco executive for 10 years.
Margins at Tesco, Sainsbury’s and Morrison rose steadily through the downturn, to an average of 8.1% in 2010, from 5.8% in 2005, according to Bernstein. Over the next few years, the economy started to perk up, but worried shoppers stayed frugal.
Tesco’s CEO at the time, Philip Clarke, rolled out a £500bn price-cutting campaign nicknamed the Big Price Drop shortly after taking the helm from Mr Leahy in 2011. Critics said the cuts did not go far enough and dubbed it the Big Price Flop.
Mr Clarke could not be reached for comment. A spokesman for Tesco did not respond to a request for comment. Mr Clarke also poured £1bn into revitalising sales: updating stores and brands, reining in store expansion and cutting prices, among other moves. But after two consecutive years of falling profits, the board replaced him last year with Unilever veteran Mr Lewis — the first outsider CEO in its history.
Mr Leahy said Tesco’s strategic direction was the right one during his tenure as CEO. "It was from 2011 onward that strategies failed to gain traction and resulted in market share loss," he said.
An accounting brouhaha made matters worse. Shortly after Mr Lewis started, Tesco disclosed it had overstated profit in the first half of 2014 by £263m. The UK’s Serious Fraud Office (SFO) — which has the jurisdiction to criminally prosecute entire companies, as well as individuals, on matters relating to fraud, corruption and bribery — in October opened a criminal probe. Tesco at the time said it was "co-operating fully with the SFO and will continue to do so".
Around that time, Warren Buffett publicly characterised his underperforming investment in Tesco as a "huge mistake". Last year he unloaded most of what had been a 3.98% stake in the company.
Others decamped, too. Mr Herro says the firm had owned 3.2% of Tesco’s shares last summer but has since sold virtually its entire stake.
This past April, the retailer reported its steepest annual loss on record, partly because of a £4.7bn property write-down. Tesco’s big stores are "a noose around their necks", says Mr Herro.
Mr Lewis, meanwhile, is not prepared to go so far. In April, the CEO pointed out to journalists that shoppers still visited big stores. "Maybe they aren’t the dinosaurs that people have painted them to be," he said.
Mr Lewis has slashed prices by 25% on average across hundreds of branded products. He has also closed dozens of stores and cut thousands of jobs at Tesco’s head office. He has beefed up the number of employees on the shop floor and slimmed down Tesco’s product range to make space for the most popular items. He continues to try to turn Tesco’s biggest stores around.
For shoppers who want to linger, or even make a day of it, an 25,603m² store in the London suburb of Watford has a nail bar and a community room for activities like yoga, an optician, and a restaurant, among other diversions.
Tesco and its competitors have also been opening smaller, urban shops at a brisk clip.
Aldi and Lidl, meanwhile, are pressing their advantage, adding fancier new fare. Ms Wadsworth of St Bees is a fan of Aldi’s cheese, Prosecco and smoked salmon.
"They also do some fantastic fish cakes that are absolutely out of this world," she says.