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The going-out-of-business sales at Target Canada will begin on Thursday after the insolvent retailer came to an agreement with its landlords over the liquidation process.
On Wednesday, Justice Geoffrey Morawetz of the Ontario Superior Court gave Target the green light to start its liquidation sales the following morning when its stores open for business at their regular time.
The sales will offer up to 30 per cent off regular prices, Target Corp. spokeswoman Molly Snyder said in an interview. However, refrigerated items such as milk and eggs are no longer being shipped to Target outlets and are already out of stock.
The merchandise in all 133 stores goes on sale as the U.S. discounter prepares to close its operations in Canada by May 15 after only about two years in this country. Unable to see a path to profit until 2021, Target received court protection from its creditors on Jan. 15 and will let go its 17,600 employees by the spring.
Landlords raised concerns Target's liquidation sales would hurt the image of their malls and steal business from their other retail tenants.
But Justice Morawetz indicated he didn't have much patience with delaying the process, as some landlords had suggested. "I think all parties are exaggerating their positions," he said earlier in the day. He called the various arguments "posturing," noting that on each side "all of you know the issues."
The landlords came to an agreement with Target that prevents suppliers that are not currently the retailer's vendors from shipping extra inventory for the sales, said David Bish, a lawyer for Torys LLP who represents landlord Cadillac Fairview Corp. Otherwise, the liquidators are permitted to augment Target's merchandise by 5 per cent of its wholesale value. As well, the landlords came to a compromise with Target over the extent of signage the liquidators can use to tout their sales, in a bid to keep the promotions to a minimum.
Landlords also are worried about a lack of clarity about the final deadline for the sale of their Target leases under a court-monitored process.
"We want to know there's a date we get our stores back or a new tenant," Mr. Bish said in an interview. The judge will deal with this and other matters next week.
An array of rival retailers, from Wal-Mart Canada Corp. to Canadian Tire Corp. Ltd. and Loblaw Cos. Ltd., are believed to be interested in picking up at least some of the locations.
Wal-Mart has already moved quickly in the bankruptcy proceedings to acquire Target's pharmacy patient records at its three corporately owned drugstores. Its other pharmacies are run by franchised pharmacists, who are responsible individually for selling their patient files. The franchisees, who are scrambling to find new homes, are asking Target for some financial relief and an extension of the roughly one month it has given them to leave their stores.
In the liquidation process, some suppliers also are worried about the negative image that the liquidation sales will create for their brands, said Lou Brzezinski, a lawyer at Blaney McMurtry who represents the Canadian operations of major vendors such as Nintendo, PepsiCo, Universal Studios, Mars and Wrigley. He has set up the website blaneystargetccaa.com to keep suppliers abreast of the bankruptcy proceedings.
Blaney's blog says a New York hedge fund that originally offered to purchase suppliers' and other unsecured creditors' claims for 10 to 15 cents on the dollar is now offering to purchase those claims for 38 cents on the dollar.
The potential transaction would involve creditors assigning their claims to the hedge fund, with the hedge fund assuming all risks with regard to the amount of distribution in the insolvency proceedings, the blog says.
Under Target's agreement with its liquidators, the chain is guaranteed a 74-per-cent recovery of its inventory's wholesale value.


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We have received word that our books are going to be prepared to be launched on two more platforms. Audio books are the first platform that we are in progress to launch, the second is going to be a certain book platform that is often referred to as the “Netflix” for books. Stay tuned as we work on expanding our available books to more networks.
Born in Montreal, Quebec and now residing in Northern Ontario. A practicing eclectic, solitary Druidic Shaman with...
META Exclusive! We are excited to announce we are going to be featured in META’s Holiday Shopping...
Author Spotlight-T.J. Fier
An episode dedicated to discussing women’s history in writing.

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Goodwill Industries of New Mexico is holding a special sale featuring donated items from the set of the AMC award-winning show “Breaking Bad” this Saturday.
The sale will take place from 9 a.m. to noon on Sept. 14 at 5000 San Mateo Blvd. in Goodwill’s former Clearance Corner store location.
“With this event, not only will Breaking Bad fans be able to purchase show memorabilia, but proceeds from the sale will benefit Goodwill’s free programs and services for New Mexicans,” Shauna O’Cleireachain, Goodwill Industries of New Mexico’s CAO, said in a news release. “Goodwill is grateful for ‘Breaking Bad’s’ generous donation and we are excited to allow fans an opportunity to have a piece of this iconic show.”
Fans of the show will find items such as artwork, furniture, home decor and other recognizable items from various episodes.


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Samsung Project KQ is soon to be released according to news report and it will feature the upmarket version of Galaxy S5 smartphone. Sources anticipate Samsung?s new smartphone coming out in June, ahead of LG?s upcoming G3.
Project KQ Rumours
Based on the reports from Korean newspaper AsiaToday, Samsung Project KQ is expected to come out very soon that features an upmarket version of the latest Samsung flagship smartphone, Galaxy S5.
According to their unnamed sources, Samsung will make the smartphone official around June 2014. Project KQ was reported earlier as Galaxy S5 Prime which offers higher specifications compared to model released recently. It features certain upgrades rumoured before on Galaxy S5 original such as 2K display, Exynos octa-core processor and possible a new RAM chipset technology.
Galaxy S5 Prime aka Project KQ
In June 2014, a variant of Galaxy S5 called ?Prime? is set to become official that boasts 5.2-inches QHD or 2K display which offers 2560 x 1440 pixels and 564 ppi pixel density. Galaxy S5 original that was released recently offers 5.1-inch display screen with 1080 x 1920 pixels and 432 ppi pixel density which makes ?Prime? more immersive.
Releasing a QHD smartphone version of Galaxy S5 is a possible intention to keep up with upcoming models such as LG G3 and already released devices like Oppo Find 7 that offers 2K display screen.
In addition to that, Samsung wants to get ahead on LG similar with what happened on flexible display models. Galaxy Round was a month ahead on release than LG G Flex that gave Samsung the advantage.
Other specs featured by Galaxy S5 prime include the latest Samsung Exynos 5430 octa-core processor chipset with new silicon features ? quad-core 2.1 GHz Cortex-A15 and quad-core 1.5 GHz Cortex-A7 while graphics rendering is managed by ARM-Mali GPU chipset.
It is unknown if Samsung will use Exynos Infinity as well with another type of Galaxy S5 Prime that features 64-bit processing as announced at Mobile World Congress 2014.
If compared with the rumoured LG G3 smartphone, LG?s new pride sports 5.5-inch of QHD display with 534 ppi pixel density and quad-core Krait 400 Qualcomm Snapdragon 801 processor.
Photo Source: Samsung


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Published in News
Windows interface is Microsoft's albatross
by Nick Farrell on26 November 2012
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IDC hammers the new look
Microsoft's new Windows interface has been described as a "a monster that terrorises poor office workers and strangles their productivity."
IDC market analyst Amy Cheah, who has spoken to local retailers, vendors and channel partners as part of her work compiling sales numbers, said Windows 8 take-up was "not as strong as Microsoft would like it to be". Cheah said that while momentum for the operating system is picking up in November, office workers are starting to hate the interface.
IDC has yet to release its latest quarterly numbers but Cheah said it was already clear that Windows 8 was "a steep learning curve and the initial phase is going to be a bumpy one". The Guardian noted that the take-up of Windows 8 appeared to be much slower than sales of Windows 7 in a similar period after its launch.
Microsoft is blaming PC-makers for delivering a confusing array of lacklustre designs for the failure of Windows 8 to take off. A raft of PC vendors have released Windows 8 Ultrabook laptops, tablets and convertible or hybrid computers, but there were too many for users to choose from. Part of the problem is that Microsoft insisted on a tile interface for PC users. While this makes Windows 8 brilliant for mobiles it is rubbish for those who liked their old icons, windows and start menu just the way they were.


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China has such a magical place, which is famous all over the world for its "Christmas".
In Zhejiang Province of China, every Christmas season in December, there will be a large number of foreign media news, focusing on a magical place.
They even gave the place a poetic name: Christmas Village.
The "Christmas Village" in the hearts of foreign media is Yiwu, our county-level city in Zhejiang Province.
Contracted most of the world's Christmas products, production throughout the year, is simply "Christmas every day" rhythm ah!


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At Cheese 2015, the issue of how to comply with European hygiene regulations while protecting local knowledge and traditions will take the spotlight
Tackling the issues of hygiene and flexibility for small-scale producers in the Food Hygiene Package is a topical issue given the plight of many small-scale food producers when it comes to overly stringent application of the rules. How can a traditional raw milk cheese be protected, while at the same time ensure consumer safety?
This issue will be discussed at Cheese 2015 (taking place in Bra, Italy, from Friday, September 18 to Monday, September 21) during the conference Small-Scale Cheese Production and Europe, on Monday, September 21 at 3 pm in the Biodiversity House.
The Food Hygiene Package is a community legislation which covers all stages of production, processing, distribution and sale of food intended for human consumption.
However, in some countries—and in particular in those countries applying to join the European Union—small artisanal dairies are being put at risk and forced out of business by the strict application of European food safety standards.
In Turkey and Macedonia, for example, there is a tendency of governments to rush into the implementation of regulations, often without properly comprehending EU directives. This causes small-scale producers to quickly adapt, often sacrificing their product authenticity for a more standardized one that complies with legislation. Traditional cheesemakers are experiencing great difficulties to adapt to the requirements imposed, which involve substantial costs as well as a semi-industrialization of their productions.
As part of an Erasmus Plus project, coordinated by Ardahan University (Turkey), Slow Food Italy is collaborating with the Spanish farmhouse cheese network Que Red (Spain), Slow Food Bitola (Macedonia) and the Bogatepe Association (Turkey). The Erasmus project aims to preserve small-scale artisanal cheese, suggesting guidelines based on a flexible application of the food hygiene regulations that take into account the traditional aspects of cheese production. Through the exchange of good practices, Slow Food wants to demonstrate that small-scale traditional farmers can continue their productions and join the EU with authentic raw milk cheeses that reflect the character and traditions of a nation, as well as being safe for consumers.
The conference will see presentations by Remedios Carrasco, coordinator for Qué Red (Red Española de Queserías de Campo y Artesanas); Angel Nepomuceno, inspector for official health checks in Spain; Emanuela Ceruti, producer and coordinator of the Tuma Macagn Slow Food Presidium; Slow Food Bitola’s Elena Karovska, coordinator for the project Erasmus Plus in Macedonia; and Ilhan Koçulu, producer of Kars Gravyeri, a traditional hard cheese that is produced and consumed widely in eastern Turkey, where dairy cows graze on pastures at an altitude of 1,800 meters. The Kars Gravyeri is now at risk of dying out due to increased mechanization of the cheesemaking process, the decline of native cattle breeds and rigid European Union regulations.
Among the Turkish cheeses seriously threatened by the restrictive nature of the Community’s rules on food hygiene, at Cheese visitors will also have the chance to discover the Türkmen Saçak, one of the oldest cheeses in the Caucasus.
From Macedonia the Mavrovo Reka Mountain Pasture Cheeses will be present, including Kashkaval made from Shaplaninska sheep’s milk; Bieno Sirenje, a cheese that dates back to the Ottoman Empire; and Belo Sirenje, similar to Greek feta, produced in the green forests of the Mavrovo National Park in Western Macedonia. The semi-nomadic sheep-breeding and the production of cheese from raw milk in these mountain areas still represent important economic activities, which are directly linked to the cultural identity of this area and should be preserved and promoted in order to invert the worrying trend of depopulation.
Cheese 2015 has been made possible by the support of companies who believe in the future of the quality dairy sector, including the Official Partners: Consorzio Parmigiano Reggiano, Lurisia, Pastificio Di Martino and Radeberger Gruppe Italia.
Cheese, the international biennial event organized by the City of Bra and Slow Food, will be held in Bra (Italy) from Friday, September 18 to Monday, September 21, 2015. Dedicated to milk in all its shapes and forms, the event has led to the formation of an international network of cheesemakers and dairy artisans, and is currently in its tenth edition.
For further information, please contact the Slow Food International Press Office:
Paola Nano, +39 329 8321285, [email protected]
Slow Food involves millions of people who follow the philosophy of good, clean and fair food. The network is made up of enthusiasts, chefs, experts, young people, food producers, fishers and academics in over 150 countries. It includes 100,000 Slow Food members worldwide, who belong to 1,500 local chapters. Their membership fee helps to fund the association, and they participate in many locally organized events. The network also includes the 2,000 Terra Madre food communities, who are committed to sustainable, small-scale food production.


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The grand opening was held in conjunction with the company''s second annual Franchise Convention, where attendees learned how to grow their one-unit organizations into multi-unit operations, the release stated.
According to the release, Chairman of the San Fernando Chamber of Commerce Michael Fiore commemorated the event with 911 Restoration Chief Executive Officer (CEO) Shay Kalmanovich and owners Idan Shipzear and Peleg Lindenberg by cutting the ceremonial red ribbon.
During the celebration, industry experts and motivational speakers presented on a variety of topics including: Risk management; clarity for purpose; motivational marketing; equipment; establishing health and safety; textile restoration; laboratory analysis; and more, the release noted.
Kalmanovich said: "This is truly a great night. We are honored that so many people came out to support us. We will continue to grow and expand in 2010."
Serving the community since 2000, 911 Restoration Inc. has over 20 franchises across the United States and Canada specializing in emergency services
, the release added.


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An item is not a store of value unless it has a network so powerful that it’s in nobody’s interest to not believe in the claim.
The opposite of this description fits Tether for being a better store of value. Leading stablecoin and the fourth-largest digital asset according to market capitalization, Tether, aims to convert cash into cryptocurrency to pull it close to the values of various vital currencies.
During the March 12 price decline, dubbed “Black Thursday,” which saw the price of key assets falling to half its price. While other digital assets were declining rapidly, the total amount of Tether in supply was increasing significantly.
Since that period, Tether had never looked back but has witnessed considerable growth between that time and now.
It was recentlyannouncedthat Tethers market capitalization had grown way over $10 billion, which is two times its previous market cap when the year started.
Going by records, Tether has now set a new record by being the first Stablecoin to reach that milestone figure. As a result, the worth of economic value that was pushed up through Tether increased rapidly. Another critical aspect was Tether’s transaction daily, which has experienced a rapid rise to rival Bitcoin.
3 key elements instrumental to Tether’s rapid rise
Presently, Tether’s daily figure count shows a value not less than $33 billion with Bitcoin just a little above it in a 30-day window.
According to experts, three key elements have been instrumental to Tether’s rapid rise, with the first being investors choosing to hoard more of the digital asset indicated by a rush for the US dollar.
While the second seems to the popularity and the seeming success enjoyed, the third is that investors choose to use stablecoins to hold Bitcoin.
The total worth of the stablecoin market is a figure well above $10 billion following the massive adoption it has enjoyed in previous weeks. With Tether growing rapidly, many crypto enthusiasts have been hoping to figure out what it spells for Bitcoin.
According to a crypto influencer, he noted that Tether is now banking the digital assets market. Looking at it from a wider angle, some experts believe that Tether could upset Bitcoin to become the reserve currency of the digital assets market.
However, an important fact to note is that Tether has shown over time that it is a crucial element in the crypto space. The flagship cryptocurrency has seen its market stagnate in previous weeks, trading around the $10,000 to the $10,500 mark.
Presently, Bitcoin has seen its market break the resistance figure to rest on a little above $11,000. What Tether growth spells for Bitcoin
Presently, Tether has displaced Bitcoin to cement its stay at the top of the table when it comes to the most transacted currency in the public blockchain.
Bitcoin may soon be pushed to the side by Tether to become the most dominant digital assets on public blockchains. Even though Bitcoin is presently enjoying its upward trend in the market, USDT has witnessed a rise in user inflow in the past few months. Noting this increase, Tether might be well on its way to take Bitcoin’s spot.
Taking a cursory look at what Tether growth means for the Bitcoin market, an analyst posted on Twitter last month that the critical changes in Tethers market capitalization have been responsible for Bitcoins price surge over the years.
Going by history, we can associate the present Bitcoin boom to the swift increase in Tethers market capitalization.
Tether vs. Bitcoin: Which is a better store of value?
Another question that would be asked is which digital asset is a better store of value in the crypto market. Going by the words of a famous Bitcoin enthusiast, Willy Woo, Tether’s value is in correlation with the US dollar, he feels it stores value more than Bitcoin.
Looking critically at their market cap, Bitcoin is miles ahead of Tether in that aspect, so how could Tether be a better store of value that Bitcoin?
Woo explained that, based on some findings by crypto experts, it shows that if one dollar is spent on Bitcoin, it automatically adds 25 dollars to the digital assets market value.
If this theory is anything to go by, one can argue that Bitcoin’s market cap should be around $7 million. Presently, Bitcoin boasts of a market cap valuethat stands at $215 billion.
Woo noted that the fiat amplifier that emanates from the liquidation of assets was responsible for the difference between the real market cap and the value shown.
Even though Bitcoin has a very massive market cap compared to Tether, the important aspect is the trading volume. Tether boasts a trading volume that stands at around $33 billion compared to Bitcoins trading volume, which is $24 billion.


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This week the protein doughnut company The Dough Bar, introduced a delicious new product that we will have to get our hands on at some point. The release is called the Cake Doughnut, which is kind of like its original raised doughnut but with a more soft and cakey texture to it.
In just two days’ time, The Dough Bar will be making its new Cake Doughnut available for purchase through its website. To get fans even more excited about the launch the brand has announced the sweet sounding flavors the cakey protein doughnut will be releasing in.
There is going to be a total of four flavors for The Dough Bar’s Cake Doughnut. The options are Birthday Cake with rainbow sprinkles, Reese’s featuring chocolate chips, Red Velvet with yogurt chips, and lastly, Dulce De Leche featuring delicious Heath Bar bits.
As mentioned, The Dough Bar will be adding its new Cake Doughnut to its website this coming Monday. The brand has said there is only going to be a limited amount of the product available to order, so those interested will want to make sure they get in early.


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London-based neobank Revolut has announced it has surpassed 30 million users which is good news for it but not so good news for those of us desperately trying to invite new friends and family on the platform so we can get our 'reward' of €40/50/60 when they start spending through the app - with rising numbers our opportunities are getting slimmer!
Talking about slim opportunities...The Telegraph reported last month that the Bank of England plans to reject Revolut's bid for a banking licence - while this will not have an impact on current UK services, where it has 6.8 million customers, it does mean that it will not be able to offer mortgages and loans to UK customers.
Anyway, back to those customer numbers...since it was founded in London in 2015 the neobank has garnered over 30 million retail customers making 400 million transactions a month.
“Revolut is growing at almost one million customers per month. This is a fantastic achievement for the company and reaching 30 million customers is another important milestone we are immensely proud of as we continue to grow and scale at pace,” says Nik Storonsky, co-founder & Chief Executive Officer.


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Michigan to repeal pharma industry's legal liability shield from 1995
Michigan Gov. Gretchen Whitmer is poised to sign a bill that would eliminate parts of a unique state law that since 1995 has shielded pharmaceutical companies from consumer lawsuits.
The change will mean that Michigan is no longer the only state that protects drugmakers from legal liabilities related to the safety and efficacy of their treatments, according to Michigan Attorney General Dana Nessel, who indicated last week that Whitmer will sign the bill.
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In the increasingly cutthroat insurance ad business it pays to plan for the future, an irony that’s not entirely lost on this particular sector.
The insurance sector is currently having a boom time with advertising expenditure, tugging at the advertising heels of the FMCG brands in the major advertising league. The insurance industry spent a fairly hefty $4.15 billion on advertising in 2009.
For many of the big name brands, Geico, State Farm, AllState, etc the ads leave little to the imagination, often quirky but never straying too fair from the safety of a direct sales message.
It’s for this reason that this new commercial form AXA stands out so dramatically from the insurance pack. in a bold step away from traditional ads the brand has developed one of the first truly integrated QR code TV commercials in Belgium, one that drives the user to uncover the ads meaning via their iPhone.
The ad depicts the front of a house with a QR code where the door should be. A loud crash ensues and the viewer is left wondering what happened. By pointing their handsets at the QR code the viewer is given access to additional video content that takes them through the front door and around the house, only to be confronted by an alien clinging to a meteorite that has crashed through the house.
It’s a cute addition that actually has a pay off for those who bother to follow the ad through, it also serves to drive awareness of AXA’s new insurance-based iPhone app.
However, there are some obvious issues. Firstly, the ad is heavily weighted towards iPhone users. Secondly, it requires those users to be swift enough to capture the QR code, further cutting down its audience. That said it’s an innovative approach for a sector that is ploughing a very mainstream ad field at the moment, and that should be applauded.


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By Kiara Torres
On August 11, Venezuelan president Nicolas Maduro and Colombian president Juan Manuel Santos agreed to reopen the border between the two countries due to an economic crisis that caused food shortages in Venezuela. On August 13, Venezuelan citizens were able to travel to the border in order to receive food, medicine, and hygienic supplies.
“We will issue a border document for residents, but also to control who enters and who exits the country,” Santos said to Telesur.
Grocery markets have limited resources making necessities for daily life difficult to come by in Venezuela. Supermarkets stock miscellaneous items like ketchup in order to keep shelves full but do not carry all of the essentials. When food is available, hundreds of citizens line up.
The Venezuelan economic crisis is caused by the global decrease in oil prices which is the country’s main source of income. According to Public Radio International (PRI), inflation in Venezuela continues to rise yearly. In 2015, the country’s inflation rate was 275% and could have an inflation rate of 720% by the end of 2016, according to Bloomberg.
Currently there are four exchange rates in place in which the government sells the national currency called Bolivares for 6.3, 12, and 172 per dollar, while the fourth exchange rate is set by the black market, according to Bloomberg. The first two exchange rates cover government approved priorities like food and medicine depending on their importance, and the third is for everything else not sanctioned as necessary by the government.
The average monthly income for a Venezuelan is equivalent to about $20. Citizens frequently buy products on the black market as a result of empty stores which often causes them to spend more money than they would have at a grocery store which has regulated prices. If people resort to buying products on the black market, they could spend their entire monthly income on just three kilos of rice.
Consequently, families have found it difficult to care for their children. There has been a rise in infanticide because citizens cannot afford to feed and buy diapers for their babies. The disappearance of birth control also makes it difficult to control unwanted pregnancies.
According to Foreign Policy, Venezuela needs global communities to recognize their shared interest in Venezuela due to its production of and export of large amounts of petroleum. That importation requires Venezuela to be able to pay its debts, refrain from destabilizing its neighbors, and effectively address its humanitarian crisis.


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Cadillac showed us a teaser of its first EV at the 2019 Detroit Auto Show. This EV is coming up soon but with that we’ve got some more interesting news from Cadillac as well. It plans to go all-electric by 2030. Cadillac has always made a statement with its cars for sale in Dubai and we’re excited to see what it’s coming up with next.
Recently, Cadillac President Steve Carlisle told journalists that the company might become an EV-only brand by the end of this decade. Of course, that’s an ambitious plan and the manufacturer might not be able to reach it. Still, as implied by Carlisle, the next ten years will probably mark the end of internal combustion engines.
Of course, that doesn’t mean that we won’t be seeing ICE cars from the brand anymore. It will still continue to work on new powertrains, but most of its upcoming cars might be electric. The company doesn’t see demand surging drastically before the middle of 2025. Also, don’t expect Hybrids, PHEVs and hydrogen fuel-cell vehicles from the automaker. Moreover, Cadillac is the leading GM brand to go electric.
Cadillac Could Enter New Segments Too
Additionally, with EVs, we might see Cadillac enter new segments, which might not have been a possibility with a car running on traditional fuel. At the same time, the company isn’t planning to leave segments it is already in just because it is prioritizing EVs now.
For now, we can look forward to the previously mentioned zero-emissions crossover which was previewed during the Detroit Auto Show. Six people will be able to travel in it at a time. The car is also expected to feature an advanced autonomous driving system. It will come with a futuristic cabin that will boast a large digital display. The car will presumably have a range of more than 400, which will be made possible because of better battery technology. It’s under development right now.
Get Ready For Real Model Names
It has also been revealed that these EVs will not have alphanumerical branding like the CT4-V and CT5-V. Instead, Cadillac has decided to give them proper model names. It’s not known if the company will bring back some old names or come up with entirely new ones


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Meet the needs of Ramadan and Hari Raya, CKB Group Improve Cargo Service
The manifestation of CKB Group's commitment to providing innovative logistics solutions for supply chain fulfillment during Ramadan and Eid al-Fitr
JAKARTA, April 13, 2022 – The need for logistics services during Ramadan and Hari Raya continues to increase every year. Especially now that the national economy has begun to recover and is encouraging improvements in various sectors. Realizing this, the integrated logistics service provider PT Cipta Krida Bahari (CKB Group) is committed to supporting the fulfillment of the production supply chain, as well as increasing basic needs during Ramadan and ahead of Hari Raya by increasing cargo services.
Iman Sjafei, Chief Executive Officer of CKB Group, explained that increasing logistics trends during Ramadan and Hari Raya are common every year. One of the reasons for this increase is the anticipation of customers in ensuring their needs are met until distribution channels recover after the holidays. Given the operational restrictions that occur on D-7 and D+7 holidays. "Therefore, CKB Group has taken preventive measures to accommodate the increasing demand for logistics. We are committed to always supporting business actors in fulfilling production supply chains, as well as increasing basic needs in the community so that all goods can be mobilized before restrictions are imposed," explained Iman.
The service improvement presented by CKB Group is by increasing the frequency of flights to various regions, namely flights to Balikpapan from 12 times to 15 times a week, the previous Timika destination from 1 time to 2 times a week. In addition to increasing flight frequency, CKB Group can also serve flight charters according to customer requests using 737-300F aircraft with a capacity of 15 to 16 tons.
"The increase in tonnage that occurred in 2021 will continue this year, this can be seen from the upward trend that has occurred since January 2022 with the same average volume of shipments, both on regular routes and extra (additional) routes," added Iman.
Citing data from the website of the Association of Indonesian Express Delivery Service Companies (Asperindo), this year it is projected that the delivery service business will continue to increase. Although varied, the increase covered all segments, namely business to customer (B2C) and customer to customer (C2C), as well as business to business (B2B). M. Feriadi as the General Chair of Asperindo said that the logistics industry can continue to grow because it has become one of the main needs of the community. Especially after the entry of the e-commerce era. Moreover, the COVID-19 pandemic has increasingly changed people's consumption patterns from shopping offline to online.
In general, CKB Group is a national integrated logistics service provider company with a wide range of services, namely domestic and international cargo delivery services via air, sea, land and rail and multimodal, customs service management, project logistics, warehousing management, service remote site/supply base, bonded logistics center, industrial cargo delivery, dry bulk cargo delivery especially coal, port management and loading and unloading services. The regular flight routes for air cargo served by CKB Group include Singapore – Jakarta – Balikpapan, Balikpapan – Jakarta, Balikpapan – Singapore, Jakarta – Ujung Pandang, Jakarta – Ujung Pandang – Timika and Manado - Singapore.
The increase in cargo services from the CKB Group is part of the company's commitment to providing integrated logistics and transportation service solutions according to customer needs. “With more than 24 years of experience in the logistics industry, CKB Group always strives to meet customer needs. We hope that this increase in cargo services can be the main solution for customers in supporting supply chain needs for production, mining and increasing basic needs during Ramadan and ahead of Eid al-Fitr," concluded Iman.


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the Digital chat station A well-known and reliable leaker recently shared some new interesting facts about the specifications of the Huawei P70 series. The Huawei P60 models were released last March, so it can be assumed that the next generation will also arrive in the coming months.
The tech insider posted on Weibo about the P70 hardware, which he claims will feature a 6.7-inch LTPO OLED display curved on all four sides, capable of 1,600 nits of brightness. Content on displays is displayed at 1.5K resolution, which is the Chinese term for 1080p+ or perhaps 1440p+, which is often used by the Chinese and is incorrect.
Huawei P70 models will be equipped with front-facing stereo speakers, if we are to believe the news. The Chinese manufacturer will include the rear cameras in an unusual triangular design. Digital chat station According to reports, the primary image capture module will be equipped with the OmniVision OV50H module, which features a 50-megapixel resolution, adjustable aperture, 1/1.3-inch sensor size, and 1.2µm pixels.
The Huawei P70 phones will be powered by the in-house developed Kirin 9010 chipset. The Chinese company entrusts the task of supplying power to a battery with high energy density and capacity of 5000 mAh. You can count on a major revamp of the ultra-wide-angle camera, as we already wrote about.
Also follow NapiDroid.hu-ta for the latest Android news!


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Nasdaq, Goldman Sachs, J.P. Morgan, and Morgan Stanley have hinted at plans to launch and operate cryptocurrency exchanges in 2018. SBI Group, one of Japan’s largest financial companies, has finalized its plan to launch a cryptocurrency exchange in the summer.
The Number One Exchange
According to Business Insider Japan, SBI Holdings president and SBI Group CEO Kitao Yoshitaka has said that he is certain SBI Group will be able to evolve its cryptocurrency exchange into Japan’s leading digital currency trading platform and dominate the market.
A rough translation of Yoshitaka’s statement read:
When we do it, it will be number one in the blink of an eye so quickly, so even if a tremendous number of customers come, we can build a system that can bear it. We have to pursue safety thoroughly.
Yoshitaka and researchers at SBI Group are aware that the demand for cryptocurrencies and volumes of most exchanges have substantially decreased since December 2017, when market interest peaked. Hence, Yoshitaka’s confidence in gaining dominance over the Japanese cryptocurrency exchange market does not necessarily stem from the capital and resources SBI Holdings has, because local banks and financial institutions have acknowledged the profitability of cryptocurrency exchanges and the ability of cryptocurrency trading platforms to generate more profits than banks.
Prior to its hack, Coincheck, formerly Japan’s biggest cryptocurrency exchange, generated around $150 million in quarterly profit, surpassing that of Germany’s largest bank, Deutsche Bank. Japan-based technology reporter Yuji Nakamura said:
Before it was hacked, Coincheck made almost as much money as TSE, which operates Japan’s stock and futures markets. My guess is Coincheck could have fetched [a] $6-8 billion valuation.
As of now, SBI Holdings is valued at $6 billion, so if Nakamura is correct, Coincheck’s valuation could have equaled or surpassed that of SBI Holdings.
In the end, banks and financial institutions are entering the cryptocurrency market not because they believe it is an immature and easy market to dominate. Banks are entering the cryptocurrency market because cryptocurrency exchanges have become more profitable than banks.
SBI Holdings stated that in the beginning, the financial institution will focus on rebuilding trust with Japan’s investors. After the February correction that sent the bitcoin price to $6,000, investors lost trust and confidence in the market, and consequently, the volume of the Japanese cryptocurrency exchange market halved.
It is likely that SBI Holdings will first begin to target large-scale institutional investors and retail traders, rather than individual investors, to increase the volume and liquidity of the market. Gradually, the exchange will start to target the general public and improve the conditions of the market.
It will also be important to prevent hacking attacks and security breaches, as the failure to do so may lead to a loss in profitability that may not be recoverable.
Monex Chief Executive Officer Oki Matsumoto, the new owner of Coincheck, said:
Given that we expect tougher regulatory and internal measures going forward, naturally the profitability will change. However, as our entire group works toward creating a crypto exchange built on trust, it may be possible to grow our customer base even more, which would drive synergy and boost profitability.


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Live at the Joiners – EP
We are delighted to announce that our brand new EP, “Live At The Joiners” will be released on Friday March 2nd 2018.
The EP will be available as both a Digital Download and as a Strictly Limited Edition CD; with only 500 copies being pressed.
Pre-orders for the CD begin on February 2nd 2018, and the first 200 people to pre-order it will receive a hand signed and numbered poster to commemorate the show and this release. Furthermore everyone who pre-orders “Live At The Joiners” before February 23rd will receive their copy by the official release date.
Recorded last November at The Joiners in Southampton, the EP will consist of five tracks taken from that night, including: “Dark Horse” and “A Place I Call Home”.
Mixed and Mastered by Paul O’Neill, “Live At The Joiners” celebrates what was a truly fantastic and special hometown show for the band.
415 in stock


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As the housing market cools slightly and prices trend downward, consumers feel more positive about their homebuying prospects, according to Fannie Mae’s August Home Purchase Sentiment Index (HPSI).
The HPSI is a national telephone survey that polls 1,000 consumers a month about owning or renting a home, price changes, the economy, and overall consumer confidence. The results can help predict future housing outcomes.
The HPSI was essentially unchanged in August, falling 0.1 points to 75.7, but the survey revealed that buyers are starting to feel more optimistic about the housing market. For the first time since March, more respondents said they believe it’s a good time to buy a home, rising from 28% to 32%. The percentage of those who believe it’s a bad time to buy fell from 66% to 63%.
Buyers were optimistic about future homebuying conditions as well. Only 40% of respondents said they believe home prices will rise next year, a 6% decrease from last month.
“The HPSI remained relatively flat this month, suggesting to us that the continued strength of demand for housing and favorable home-selling conditions may be offsetting broader concerns about the Delta variant and inflation that have negatively impacted other consumer confidence indices,” Fannie Mae Vice President and Deputy Chief Economist Mark Palim said.
“Most consumers continue to report that it’s a good time to sell a home – but a bad time to buy – and they most frequently cite high home prices and a lack of supply as their primary rationale. However, the ‘good time to buy’ component, while still near a survey low, did tick up for the first time since March, perhaps owing in part to the favorable mortgage rate environment and growing expectations that home price growth will begin to moderate over the next twelve months.”
The housing market has cooled slightly in recent weeks as the number of homes for sale increased and prices fell. The HPSI may indicate that buyers see opportunity after a year of battling cash-rich investors and low inventory.
“For first-time buyers, more options and favorable financing offer the promise that after a year of frustrating bidding wars, finding the right home may finally be within reach,” said George Ratiu, manager of economic research at Realtor.com.
“More listings are coming to the market these days, which is alleviating some of the supply crunch that prompted record increases in home prices.”
This matches a Fortune magazine report from Home.LLC, a “startup that provides down payment assistance to homebuyers in return for a share of profits,” which predicts U.S. inventory—homes for sale—will rise by 11% later this year.
Here are some additional responses from the survey:
- It’s a good time to sell a home: 73% (down from 75%)
- It’s a bad time to sell a home: 19% (down from 20%)
- Home prices will go up in the next 12 months: 40% (down from 46%)
- Home prices will stay the same: 31% (up from 27%)
- Mortgage rates will go down in the next 12 months: 6% (up from 5%)
- Mortgage rates will go up: 53% (down from 57%)
- Mortgage rates will stay the same: 35% (up from 31%)


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Stoyan Todorov December 16, 2022 2 min read
CT Interactive Expands in Italy with MondoGaming
CT Interactive is expanding its presence in the regulated iGaming market in Europe with the company teaming up with MondoGaming, a prominent operator in the Italian gaming market. Moving forward, CT Interactive will provide MondoGaming with 20 games. CT Interactive head of business Milena Tsankarska commented on the partnership and welcomed the opportunity, saying:
Our strategic plan is to increase our market share in Italy, and we find MondoGaming as the perfect operator for this goal. We are confident that this is the start of a long and prosperous partnership.CT Interactive head of business Milena Tsankarska
CT Interactive CEO Lachezar Petrov was similarly pleased with the development. He noted that the supplier has been licensed to provide games in Italy since 2021 and has been looking to collaborate with prominent names in the country’s fast-developing iGaming markets.
“This shows that our products are well-received there and we are very proud of that fact,” Petrov said. MondoGaming CEO Matteo Dimatteo was similarly pleased with the opportunity and said that the whole company was excited to be bringing products by CT Interactive.
European Footprint Remains a Priority for CT Interactive
This is not the first market entry for CT Interactive in Italy as suggested by Petrov. In fact, the supplier has already teamed up with other prominent names from the iGaming market in the country, including Microgame. As such, CT Interactive has brought a number of excellent titles to what the company has described as a “key market” for the company.
Banana Party, 40 Mega Slot, Chilli Fruits, and so many others are all part of the games that are available in Italy. Meanwhile, CT Interactive has been pushing to bring more titles to this strategic market and managed to certify 10 jackpot games for Italy in November. Among the games were Hot Luck, 20 Roosters, Wizard Blizzard, and many others.
CT Interactive has also been present in other European markets, including Spain, Slovakia, and more.


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Sony has confirmed that it will not be exhibiting at IBC 2021 in Amsterdam on 3-6 December, citing the continued uncertainty caused by Covid-19 as well as preparation time, but said it was working closely with IBC so that it can meet customers and partners in Amsterdam. IBC has clarified that the company wasn’t scheduled to exhibit at this year’s event, contrary to reports yesterday that it had “pulled out” or “withdrawn” from the event as an exhibitor.
In a statement provided to TVBEurope by a Sony representative yesterday afternoon, the company said: “Due to the current uncertainty around the worldwide pandemic and the lead time needed for design, Sony will not be having a physical booth at the upcoming IBC trade show. Sony will however continue to work closely with the IBC organisation as its valued partner and will use the opportunity to meet customers and partners in Amsterdam.
“We will be constantly monitoring the situation in the coming months and will adjust our plans accordingly, but are keen to participate, when safe and appropriate, in industry trade shows.”
- IBC unveils plans for hybrid event
- Ross Video withdraws from IBC
- Netherlands government relaxes travel and social distancing guidelines
In a statement clarifying the company’s participation at the show, Steve Connolly, director at IBC, explained, “Sony continues to be a great supporter of IBC and, although they weren’t planning on exhibiting this year, it is great to see Sony confirm they want to be at IBC2021.
“With 700 exhibitors confirmed, visitors will see demos and hear industry insights from a huge array of major players including Amazon Web Services, Blackmagic Design, EVS, Grass Valley, Nagra, and Synamedia,” he continued. “We’ve seen a sharp increase in visitor registrations since the Dutch government announced the relaxation of Covid travel rules and are seeing strong support across major content owners, broadcasters and service providers planning on coming to the show. We are also putting more content than ever online this year, so the 250,000 strong IBC community will be able to see and enjoy more content than ever online through IBC Digital.”
The Netherlands government announced a relaxation in its Covid-19 social distancing measures in September which included allowing fully vaccinated travellers to enter the country without needing to quarantine. On the back of the announcement, IBC CEO Mike Crimp told a gathering of industry press that the show is “heading in the right direction” in terms of staging a physical show, and that it is “focusing on delivering an absolutely safe event.”
You can read about this year’s IBC Accelerator Media Innovation programme here.


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- Gage Announces Receipt of Final Court Approval for the Acquisition by TerrAscend
GAGE is pleased to announce that the Ontario Superior Court of Justice (Commercial List) has issued a final order approving the previously announced plan of arrangement.
- Gage Shareholders Overwhelmingly Approve the TerrAscend Arrangement
GAGE, a leading high-quality premium cannabis brand and operator in Michigan, is pleased to announce the approval of the TerrAscend Arrangement from the special meeting of its shareholders yesterday.
- Gage Cannabis Announces Limited Edition Everybody Vs Injustice Merchandise to Support the Detroit Justice Center
DETROIT, Nov. 1, 2021 /CNW/ – Gage Growth Corp. (“Gage” or the “Company”) (CSE: GAGE), a leading high-quality premium cannabis brand and operator in Michigan, today announced its upcoming campaign against injustice with world renown Detroit Vs Everybody, LLC (“DVE”).
- Gage Growth Corp. Announces Record Second Quarter 2021 Results and Provides Business Update
Gage Growth Corp., a leading high-quality cannabis premium brand and operator in Michigan, today reported its financial results for the three months ended June 30, 2021.
- Gage Growth Corp. Adds Two Retail Locations to Portfolio and Eleventh Contract Grower
Gage, a leading high-quality premium cannabis brand and operator in Michigan, today announced that it has added two more provisioning centers (dispensaries) to its portfolio, which will be located in Flint and Burton, Michigan.
- Gage Growth Brings Iconic Cannabis Brand COOKIES to Canada
DETROIT, July 26, 2021 /CNW/ – Gage Growth Corp. (“Gage” or the “Company”) (CSE: GAGE), a leading high-quality cannabis brand and operator, today announced that it will bring the iconic cannabis brand COOKIES to Canada.


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Facebook Inc. Could Help Snapchat Significantly -- Here's How
Snapchat is finally looking to monetize its millions of users. The app company's 24-year-old CEO, Evan Spiegel, told Katie Couric that the planned ads are "not fancy." They're not targeted, and users can elect to bypass the ads if they're so inclined -- which sounds like almost everybody.
Snapchat, by its nature, doesn't collect a lot of data on its users, the way Facebook or Twitter do. Just about the only information Snapchat has on its users is a phone number and email address. This data alone makes it really difficult for Snapchat to target users on its own. That buyout offer from Facebook for $3 billion isn't looking so bad now, is it?
Luckily, Snapchat doesn't have to go it alone. It can tap Facebook.
The oldest form of digital advertising
It seems as if ever since email was invented, email spam has existed. Spam is untargeted, seldom creative, and easily recognizable in your inbox (although most email clients rarely let spam advertisements make their way into your inbox anymore). If you do see a spammy subject line, it's highly likely you'll delete it without opening it.
This is the mechanism Snapchat is planning for selling brands. It's going to let companies spam its user base, and it's likely a very large percentage of users will ignore the message.
Snapchat isn't offering a very valuable form of advertising. As such, advertisers aren't going to pay very much for the product.
What's really disappointing is that Snapchat could have integrated ads into its Our Story feature, which collects Snaps from big events such as college football games, music festivals, or Oktoberfest. These events have clear audiences with expressed interests -- sports, music, beer -- that are easy targets for advertisers. What's more, it could have included the advertisement within the content people want, forcing them to view the advertisement to see more content.
Using Facebook's data
There's an even better solution, though. If Snapchat feels it's too early to throw ads into the middle of its Our Story feature, Snapchat can just tap the assets of Facebook and Twitter.
Facebook just opened to every app developer its Facebook Audience Network, which lets those developers show Facebook ads in their own app. As more advertisers buy ads on Facebook, Facebook is forced to either raise prices or increase the number of ads it shows on its site. By expanding its reach to other apps, Facebook will be able to better serve its 1.5 million advertising partners.
Snapchat can take advantage of Facebook's network. The ads can be targeted using Facebook's data, but Snapchat will have to install Facebook's software development kit, which allows the social network to glean data from the app.
If Snapchat wants to go one better, however, it could partner with a supply side ad platform like Twitter's MoPub and use targeting data from Facebook by working with Facebook's Atlas. While it's not clear whether Atlas will work with Twitter's MoPub, it would be hard to avoid. MoPub is one of the biggest, if not the biggest, mobile ad servers on the planet. MoPub hasn't had any problems working with Facebook in the past. Working with Atlas will allow advertisers to better track the effectiveness of ads on mobile apps like Snapchat.
And if Snapchat really wanted to go all out, it could simply integrate Facebook's application programming interface into its app, so advertisers could use the data to target users with ads made specifically for Snapchat. This approach would result in the highest-value ads for Snapchat, but would require more engineering effort and for the company to work directly with brands. Luckily, the whole company is full of engineers, and Spiegel has already indicated his willingness to work with advertisers.
Earning its keep
Many thought Snapchat was crazy to turn down Facebook's buyout offer. The company reportedly has over 100 million monthly active users and zero revenue. And without any data of its own, Snapchat is resorting to the most basic of digital advertising now.
Whether it's pressure from outside investors pushing Snapchat into advertising or Spiegel's own acceptance that it's time to start experimenting is unclear. Management seems to be overly cautious with the opt-in mechanism (users don't see an ad unless they choose to) for these advertisements, which makes them very low-value for brands. At the very least, Snapchat could use Facebook and Twitter to annoy its users even less by targeting its advertisements at users more likely interested in a brand.
There's a lot more Snapchat can do with its large user base. I expect its current advertising plan is just a small proof of concept for advertisers and investors. At least I hope so.
This $19 trillion industry could destroy the Internet
One bleeding-edge technology is about to put the World Wide Web to bed. And if you act right away, it could make you wildly rich. Experts are calling it the single largest business opportunity in the history of capitalism. The Economist is calling it "transformative." But you'll probably just call it "how I made my millions." Don't be too late to the party -- click here for one stock to own when the Web goes dark.
The article Facebook Inc. Could Help Snapchat Significantly -- Here's How originally appeared on Fool.com.Adam Levy has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Facebook and Twitter. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


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Share prices in Genius Brands (GNUS 2.71%) have fallen roughly 41% from a recent high of $3.06 a share on Jan. 27. The rally that got shares to that price was part of a retail-driven push into heavily shorted stocks that is now unraveling because of weak fundamentals.
Investors who still own Genius Brands should consider selling, because the company's cash-burning operations and penchant for equity dilution could lead to long-term declines in the stock price.
Genius Brands is burning through cash
Billed as a potential "Netflix for kids" by CEO Andy Heyward, Genius Brands is a content management company that creates and licenses educational multimedia for toddlers up to tweens.
Genius Brands' flagship program, Kartoon Channel, is available on major platforms such as Amazon Prime, Apple TV+, and Comcast's Xfinity on Demand. The company has also developed a Netflix show called Llama Llama, which was renewed for a second season in 2018 (revenue recognition occurred in the third quarter of 2019).
Genius Brands' shows probably aren't household names for most families, but you can find its content if you look hard enough. Unfortunately, these assets haven't created sustainable value for equity investors.
Third-quarter revenue collapsed 92% year over year, from $3.4 million to roughly $274,000, after a significant decline in the television and home entertainment segment. The company didn't follow up its 2019 Llama Llama licensing to Netflix with a comparable deal in 2020. And despite the inconsistent revenue growth, General and Administrative costs soared by 45% to $3 million, leading to an operating loss of $3.4 million in the period.
Investors face dilution
Genius Brands sustains its operating losses through equity dilution. Despite poor business results, the company increased its cash and equivalents from roughly $305,000 in December 2019 to $50.5 million by September 2020. Management raised most of that capital by issuing new shares, which dilutes existing investors and can lead to stock underperformance if they don't create long-term value with the funds.
In October 2020, Genius Brands announced yet another equity offering of 37.4 million shares for proceeds of roughly $58 million. The company may have used some of this cash to acquire marketing and media agency ChizComm and its advertisement buying division, Beacon Media. Management hasn't revealed how much ChizComm cost. And they have been tightlipped about the profit implications of the new business.
According to CEO Andy Heyward, ChizComm is the largest purchaser of children's media in the U.S., with an annual spend of $100 million. Heyward notes that net commissions from the spending will aggregate to Genius Brands' revenue line, but he doesn't reveal whether the new business is profitable. This detail matters because if ChizComm isn't profitable, it will add to Genius Brands' operating losses and set the stage for further equity dilution in the future.
Invest in fundamentals, not hype
Genius Brands is one of several low-quality stocks that have surged due to speculative demand in recent weeks. But like other "meme stocks," the rollercoaster ride has ended in massive losses for many novice investors. Genius Brands has already given back most of its gains year to date. And the crash could intensify if the company doesn't get its operating losses and equity dilution under control.
Investors should consider jumping ship because of these unresolved challenges.


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This week is a pretty big one for Nike Women. Aside from launching the “Better for It” video series, they’ve also opened registration for the first Nike Run Club Women’s Half Marathon Manila happening on May 15, 2016 at Cavitex.
After missing out on the past Nike races, I’m signing up for this one as part of my build-up to the Phuket Marathon in June. Last year’s Nike Women’s 10K was the biggest all-female 10K race in Manila. Nike is hoping Filipina runners will turn out in force for their first all-women half marathon in the country. (more…)


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No longer does vodka just pack the calories, now it also packs the protein. That’s right, vodka is trying to be a health supplement. The name of this new alcohol? Devotion Vodka. How would a company go about marketing a health supplement vodka? They hire the kid with ripped abs from Jersey Shore of course.
That’s right “the situation” is now promoting protein in your booze. No longer will households have to hear the whole “Mom where’s the protein?” call from 20 somethings living at home.
Now that call for protein is going out to all those bartenders out there who specialize in “Jager Bombs”. I am sure you want to know just how much protein is in each ounce? It’s suppose to be 2 grams of protein in each shot and “the situation” says it will help reduce hang overs.
Drew Adelman created and developed Devotion Vodka “My own personal mantra has always been if you are going to be bad, you might as well be good,” Adelman says in a statement on his website. “I used to actually take my own protein out with me when I went for a night on the town. Then I realized there were millions of people like me who wanted to adhere to their lifestyle, and also have a good time.”
It’s been reported that”the situation” being paid $400K to promote this new vodka to the muscled masses.


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Brexit: Public 'were told a pack of lies’ claims Lord Heseltine
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Their anger was sparked after a new raft of measures on UK goods being imported into the EU were introduced on January 1 as part of the withdrawal agreement. Former diplomat Adrian Hill said that UK goods were being increasingly marginalised and urged Brits to boycott products from the EU to send a strong message to Brussels.
His comments were met with strong support from many Express.co.uk readers.
BBBO01 raged: “I stopped buying EU products when the EU started their petty vendetta.”
Toto Momo said: “No EU poor quality goods will ever be bought in this house again. I prefer 100 percent beef. Not 80 percent horsemeat.”
William4Freedom wrote: “Absolutely agree with this.
“We stopped buying EU wherever and whenever we can, swapped out all our wine and cheese, even swapped our Mercedes for a Tesla which is imported from the states and it’s a fantastic car.
“We’ve not looked back and are buying more produce locally than we ever have.”
RichOn simply wrote: “It’s quite simple, leave it on the shelf or showroom…consumer is king and money talks.
“Boycott all EU produce & products.”
‘Churchill is a killer!’ Activists demands ex PM’s statue ‘torn down’ [REACTION]
John Redwood hails Truss ‘EU constantly breaks protocol’ [INSIGHT]
British expats living in Spain face deluge of crippling changes [REVEALED]
Speaking to Express.co.uk last week, Mr Hill said British goods were becoming “increasingly difficult” to source in the bloc.
On top of that, in Switzerland – which is not part of the EU – they are also becoming more scarce, he claimed.
Mr Hill – who wants Foreign Secretary Liz Truss to replace Boris Johnson as Prime Minister – told Express.co.uk: “This is a deliberate policy.
“If you live here every week more Swiss and British and French products are replaced by German products in the big grocery chains.
“Only small shops and online shops sell better-quality or well-known brands from places other than Germany.”
Referring to the additional checks, Mr Hill suggested the general trend to reduce the reliance on the EU as a trading partner should be welcomed.
He explained: “If you live in Britain you should be relieved that our trade is no longer 40 percent passing through a single choke point at Dover and then foreign heavy trucks polluting Kent, Sussex, Surrey, Berkshire, Hertfordshire, Middlesex, Essex and all points beyond.
“We should start buying from distant markets and use all the container ports around the British Isles.
“That would reduce our pollution faster than any green theory. Long sea journeys, short rail or road journeys to deliver from the ports.”
Source: Read Full Article


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Back to back speeches by American Petroleum Institute CEO Red Cavaney and venture capitalist Vinod Khosla provided a stark contrast in ideas at the Advancing Renewable Energy Conference last week in St. Louis.
Cavaney discounted claims that the oil industry is “opposed to ethanol and is doing all it can to discourage its use. Nothing could be further from the truth,” he said. However, he noted that they are “concerned that some ethanol proponents are focused exclusively on E-85 fuel. While the industry does not object to E-85 in a free market, so long as it meets standardized technical specifications and is of reliable quality, a national emphasis on increasing ethanol volumes through E-85 can prove unnecessarily expensive and risky. If we are to encourage more long-term use of ethanol, we need to avoid surprising consumers with unanticipated problems.”
Cavaney noted the lack of cars on the road that can use e85, the decreased fuel efficiency, and the expense of installing e85 pumps as reasons why the ethanol industry should be promoting more e10 than e85. “It seems obvious that ethanol is a better value for most consumers as a gasoline additive than as E-85. As long as ethanol can be added to gasoline up to its legal limit of 10 percent by volume as a gasoline additive, it enhances octane, reduces toxics and is a viable approach. This approach creates market pressures preventing ethanol prices from falling below those of gasoline until its possible use as an additive is exhausted. And, with a 140 billion gallon national gasoline pool currently, there is considerable growth opportunity for ethanol.”
Listen to a segment of Cavaney’s remarks: Cavaney (5 min MP3)
(read Cavaney’s full speech)
Coming to the podium after Cavaney, Khosla totally disagreed. “That’s the additive market, that’s what the oil companies would like us to stick with. Just be a blend into gasoline, that’s a 15 billion gallon market at e10,” he said. “I suggest that the real market is much, much larger if we let an e85 future happen.”
Khosla outlined a three mandates to make that “e85 future happen.”
1. Mandate that 70 percent of all new cars made in America be flex-fuel cars to “ensure that the consumer can pick the cheapest fuel that is available.”
2. Mandate that at least ten percent of all U.S. gas stations, either “owned or branded by any of the major suppliers” offer e85.
3. Make the current 51 cent blender’s credit a variable credit to insure against drastic ups or downs in oil prices. “I’m recommending a 25 cent credit at $75 oil and a 75 cent credit for $25 oil.”
Listen to a segment of Khosla’s remarks: Khosla (6 min MP3)


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TCL Electronics, a leading global brand in consumer electronics and TV manufacturing, was recently honored with the title of Home Appliance of the Year at the prestigious Village Pipol (VP) Choice Awards. The awards ceremony, which took place on March 29 at the Glass Garden in Pasig City, recognizes the best of the best and Pipol’s favorites from the travel, lifestyle, tech, business, and entertainment industries.
The winners of the VP Choice Awards were determined by a combination of public voting and expert opinion. The voting took place between February 10 and March 10, and the following criteria were used to determine the winners: 30% from the VP Choice Awards’ Facebook shares, 20% from Village Pipol’s Facebook shares, 30% from the editorial team, and the final 20% from the deliverance of Village Pipol’s editorial team.
TCL Electronics was chosen as the Home Appliance of the Year because of its commitment to providing high-quality and value-for-money products for consumers. Village Pipol also noted that TCL Electronics is a name that consumers trust and rely on in their daily lives.
“We would like to thank Village Pipol for recognizing the manufacturing excellence that we offer our customers at TCL Electronics. This will serve as an inspiration for us to innovate so we can cater to the ever-evolving needs of discerning Filipino consumers,” said Loyal Cheng, TCL Philippines CEO.


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Nationwide declares interest in snapping up 316 branches from Royal Bank of Scotland
Target: Nationwide believes that ownership of the branches would 'fit logically' with its plans to start lending to small and medium-sized businesses by 2014
Nationwide publicly declared its interest in snapping up 316 branches from Royal Bank of Scotland as it was hit with a £238m bill for past follies.
Britain’s biggest building society said the acquisition would help meet its target of gobbling up 10 per cent of the current account market.
It added that ownership of the branches would also ‘fit logically’ with its plans to start lending to small and medium-sized businesses by 2014.
RBS was forced to sell the branches as a condition of receiving a £45bn bail out.
But a £1.65bn deal struck with Santander two years ago fell through last month after the Spanish-owned bank complained about RBS’s IT systems.
Although several private equity firms and Sir Richard Branson’s Virgin Money have expressed interest, there are fears it could be sold off for a bargain basement price.
Chris Rhodes, executive director of products and marketing at Nationwide said: ‘We will watch this very closely but this is a very complex transaction that one buyer has already walked away from them.’
But as it revealed its hand, the Swindon-based firm admitted it had been forced to put aside £193m to cover losses on commercial property loans in the first half of the year – up from £72m a year earlier.
Many of these loans were made to retailers and business parks just before the financial crash.
Nationwide also set aside another £45m to cover the mis-selling of payment protection insurance, taking its total provision to £173m.
This prompted a slump in pre-tax profits to £124m from £238m a year earlier.
But the building society gained bragging rights by revealing it had more than doubled its net mortgage lending to £3.2bn.
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The most significant new features in the suite are found in the service-parts management component. This is largely aimed at business sectors, such as small-scale manufacturing and distribution, that put a premium on getting the right components in the right place on a "just-in-time" basis.
The new software, MySAP Supply Chain Management version 5.0, was unveiled late last week at the CeBit trade show in Hannover, Germany. The company said this latest version can efficiently manage even low-value components and should help businesses evolve traditional, linear supply chains into more flexible and dynamic networks of supply chain partners. A lack of flexibility has been a particular criticism of SAP manufacturing software in the past.
With the package's new tools, the company said, retailers can strike a better balance between increased customer service levels and lowered merchandise inventory, SAP said. They can replenish products with long lead times and at the same time handle seasonal products and introduce new products with short product-lifecycles using historical information on similar products to forecast demand.
The latest version has industry-specific functionality and is intended to work in industries as diverse as clothing and chemicals.
Colin Barker of ZDNet UK reported from London.


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MANILA, PHILIPPINES – The international think tanks said, the conflict between Ukraine and Russia will have an impact not only on oil prices, but also on agricultural commodities, potentially leading to weaker trade in the Philippines.
Following Russia’s attack on Ukraine, Oxford Economics and Capital Economics both warned of potential repercussions on global commodity prices that would affect countries such as the Philippines.
According to GMA News, Presidential Adviser for Entrepreneurship Joey Concepcion said Friday during the Laging Handa briefing, “We should brace for price increases. Inflation will go up.”
Brent crude oil prices have surpassed $100 per barrel for the first time in seven years, and economists expect this price range to last for some time.
This would effectively put pressure on pump prices in the Philippines, a net importer of the commodity.
Concepcion added that since Ukraine supplies 25% of the world’s wheat, it might cause increase in the price of local bread.
“Epekto niyan dito sa Pilipinas ‘yung presyo ng pandesal,” the presidential adviser said.
“The shortage of Ukrainian wheat being 25% supplier in the world, of course will affect prices… That is a concern,” he said.
Concepcion stated that because price increases cannot be fully absorbed by consumers, businesses must squeeze their margins. The presidential adviser reiterated his call for the quarantine classification in Metro Manila and other major economic zones to be reduced to Alert Level 1.
“Opening up of the economy will give more strength to our micro, small, and medium enterprises. Whatever happens in the Ukraine-Russia crisis, a strong Philippine economy can weather that,” Concepcion said.
“There’s no other way to do it but reopen our economy so it can withstand any external pressure,” he added.
Analysts previously warned the public to expect higher oil prices as a result of the Ukraine-Russia conflict. According to them, the average price per liter of gasoline may rise from P68 to P77, while diesel prices may rise from P59 to P73.
Since 2014, when Russia launched an attack on Ukraine, the price of benchmark Brent crude has risen to more than $102 per barrel.
Analysts predict that the price of crude will rise to $120 per barrel in the coming weeks.
Meanwhile, according to PhilStar Global, Oxford Economics assistant economist Makoto Tsuchiya stated that the Ukraine-Russia conflict would have a negative impact on the Philippines because global energy prices are on the rise.
“As a result, real incomes will be reduced and consumers will have less money to spend on other things, and therefore household spending will be hit,” Tsuchiya said.
“It will also likely lead to somewhat weaker trade so there will be a dampening impact on exports. Businesses also face higher costs, which they are unlikely to fully pass on given demand is still relatively weak,” he added.


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After a week of controversy, trans influencer Dylan Mulvaney has hit back at her critics by breaking out in song on her social media.
“It’s hard to see the light right now. This song felt fitting given the week I’ve had,” Mulvaney wrote on TikTok alongside a video of herself singing the Stephen Sondheim tune “No One is Alone” from “Into the Woods.”
The performance was from an event she hosted at the Rainbow Room earlier this month. “Thank you all for making me feel supported, i am not alone ❤❤ #trans“
Dressed Audrey Hepburn-style in a black and pink ball gown, she spoke to the audience almost tearfully, the footage shows.
“Whether you’re a parent or you’re a child or you’re young or you’re old or you’re trans or you’re not, we are all just trying our best here aren’t we,” she said, according to the clip.
The lyrics of the song include the words: “Hard to see the light now. Just don’t let it go. Things will come out right now. We can make it so. Someone is on your side. No one is alone.”
Last week, Mulvaney’s new ad campaigns with Bud Light and Nike ruffled the feathers of critics from country star Travis Tritt and Kid Rock — who tweeted a video of himself shooting cases of Bud Light — to female Olympians and even Caitlyn Jenner, who said of Mulvaney’s Nike sports bra endorsement: “It is a shame to see such an iconic American company go so woke! … This is an outrage.”
Mulvaney 26, who transitioned from male to female in March 2021, has reportedly earned more than a million dollars from endorsements including fashion and beauty brands Kate Spade, Ulta Beauty, Haus Labs and CeraVe, as well as Crest and InstaCart. She’s also gained 10 million followers on TikTok.
In March, she appeared on “The Drew Barrymore Show,” where the star famously knelt before Mulvaney and embraced her, and Mulvaney met with President Biden at the White House last fall.
The Post reported Friday that executives at companies like Nike, Anheuser-Busch and Kate Spade who gave Mulvaney brand endorsements aren’t just virtue signaling.
They’re handing out lucrative deals to what were once considered fringe celebrities because they have to — or risk failing an all-important social credit score that could make or break their businesses.
At stake is their Corporate Equality Index — or CEI — score, which is overseen by the Human Rights Campaign, the largest LGBTQ+ political lobbying group in the world.
HRC, which has received millions from George Soros’ Open Society Foundation among others, issues report cards for America’s biggest corporations via the CEI: awarding or subtracting points for how well companies adhere to what HRC calls its “rating criteria.”


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Advertising Upfronts – NBC and ABC are reported to book 7%-8% CPM increases in this year's upfront, while CBS had been reported to be in that range as well. The CPM increases are on the high end of what we had expected, and we believe this bodes well for the overall ad climate. CBS and ABC volumes were slightly lower, ABC's volumes driven by the network's unwillingness to lower prices. NBC bucked this trend and sold more inventory as it sought to lock in better pricing from improving ratings at top shows. Ad Age estimates that $800 million less was spent on the upfronts, which could mean advertisers are looking elsewhere (including cable or digital) to spend their dollars, or wait to try in the scatter market. We believe the implications of lower upfront volumes are positive for cable networks, in particular VIAB.
Gaming Updates – Nintendo reaffirmed its outlook for Wii U sales (9 million units) for this year, despite disappointing sales trends to date. More first party titles could drive sales and will benefit GME. TTWO was positive on selling AAA titles for tablets, particularly with the upcoming external iOS controller that would attract gamers, although this is likely a few years away. FB announced a mobile game publishing effort, aimed at more casual games, in competition with ZNGA. GOOG noted that thousands of players are logging in through Google+ to play multiplayer games via game services for Android. Google Play game services offers elements including Multiplayer, leaderboards, and achievements to make games stickier. We see casual games as positive for gaming, adding more players and expanding gaming time, and not necessarily a substitute for the new console cycle.
IPTV Competition – IPTV competition could be mounting as video becomes an increasingly important driver for AMZN Prime membership, according to recent management comments. More successful competition by AMZN and others may push content costs higher. Interestingly, IPTV services have to date not meaningfully affected premium channel adoption, even in the face of declining/stable MVPD subscribers, according to research by SNL Kagan. Premium subscriptions have risen 22% since 2009, while MVPD subs have been flat. Premium services per home went from 1.5 in 2009 to 1.8 in 2012. Programming spending will likely move further toward originals, similar to NFLX, and we believe that as the bar is raised, this may put at risk smaller or less successful networks, e.g. STRZA, substantially increasing their costs.
Cord Cutting – Fewer households rely on antennas for TV viewing in 2013 than in 2010, according to a CEA survey. Just 7% of TV households rely solely on antennas for TV signals, vs. 8% in 2010. The survey also found that the proportion of homes that receive TV programming through MVPDs dropped 5% to 83%. We believe this data implies that cord-cutters primarily use IPTV as a substitute for MVPD service, as the amount of content available and adoption of mobile connected devices increase.
Social Media – FB launched a new video advertising products that sells TV-style ads on its site for up to $2.5 million, according to Bloomberg. FB may start offering 15-second spots this year similar to other online companies' efforts to capture TV ad dollars, including GOOG's YouTube and AOL. The ads will be sold on a full-day basis, and can be targeted based on age and gender, similar to TV ads. FB is sensitive to advertising affecting the user experience and users will likely be limited in how many ads they are exposed to. FB now attracts more 18-24 year olds during prime time viewing hours than the four major TV networks, according to Nielsen. The data could change advertisers' perception of FB's reach and drive second screen advertising budgets toward FB.
Tony Wible joined Janney Montgomery Scott in 2008 and is a Managing Director covering the Media and Entertainment sector after spending the previous 10 years at Citigroup InvestmentResearch—most recently covering the Broadcasting and Entertainment Services industries.
Tony can be reached at email@example.com.
Janney Montgomery Scott LLC, is a U.S. broker-dealer registered with the U.S. Securities and Exchange Commission and a member of the New York Stock Exchange, the Financial Industry Regulatory Authority and the Securities Investor Protection Corp. Disclosures may be reviewed at Wible's Weekly.
Read all Tony's MediaBizBloggers commentaries at Wible's Weekly: Janney/MediaEntertainment.
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The opinions and points of view expressed in this commentary are exclusively the views of the author and do not necessarily represent the views of MediaBizBloggers.com management or associated bloggers. MediaBizBloggers is an open thought leadership platform and readers may share their comments and opinions in response to all commentaries.


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US may soon claim up to $1.7 bln penalty from China’s ZTE
NEW YORK, June 2, (RTRS): The Trump administration may soon claim as much as $1.7 billion penalty from ZTE Corp, as it looks to punish and tighten control over the Chinese telecommunications company before allowing it back into business, according to people familiar with the matter. The Commerce Department is also seeking unfettered site visits to verify US components are being used as claimed by ZTE, and wants it to post calculations of the US components in its products on a website, the people said. China’s No.2 telecommunications equipment maker has been crippled by a ban imposed in April on buying US technology components for seven years for breaking an agreement reached after it was caught illegally shipping goods to Iran and North Korea.
The negotiations with ZTE come as US Commerce Secretary Wilbur Ross arrived in Beijing this weekend for trade talks. One source said Washington also wants ZTE to replace its board and executive team as soon as 30 days, but a deal still has not been finalized and the sources cautioned that the penalties were fluid and the terms could change. Representatives from the Commerce Department and ZTE did not immediately respond to a request for comment. American companies provide an estimated 25 percent to 30 percent of components in ZTE’s equipment, which includes smartphones and gear to build telecommunications networks. The company’s status has become an important bargaining chip in highlevel trade talks between China and Washington amid reports that if the United States eases up on ZTE, China will buy more American agricultural goods.
US President Donald Trump tweeted last month that he told Commerce officials to find a way for ZTE to get back into business, later mentioning a $1.3 billion fine and changes to its board and top management as a way to penalize the company before allowing it back into business. But ZTE’s possible resuscitation has met strong resistance in Congress, where both Democrats and Trump’s fellow Republicans have accused him of bowing to pressure from Beijing to help a company that has been labeled a threat to US national security. The company, which suspended major operations in May, desperately needs a deal to get back in business, with estimates it has lost over $3 billion since the April 15 ban on doing business with US suppliers, a source familiar with the matter said last week.
The April ban came after the Shenzhen- based company admitted that while it dismissed four senior employees who had been involved in the original wrongdoing, it had not disciplined 35 others by either reducing their bonuses or reprimanding them, despite statements to the contrary, senior Commerce Department officials told Reuters at the time. While it is expected the administration will claim a $1.7 billion penalty for ZTE, sources said that after breaking the figure down, ZTE will likely actually pay about $1 billion. In addition, it will be asked to put $400 million in escrow, one of the people said.


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Brian Armstrong, the CEO of cryptocurrency exchange Coinbase, is confident that the United States will achieve regulatory cryptocurrency, “even if it takes a while.” However, he believes this is the vital component to luring entrepreneurs back to the country.
Armstrong sat down for an interview with Wall Street Journal on June 11 just days after the SEC filed a lawsuit against crypto exchange Coinbase on June 6 – alleging that it has been operating a securities exchange, broker-dealership and clearing house without registering with the commission.
Full WSJ interview on YouTubehttps://t.co/yIF3dGI7oN
— Brian Armstrong  (@brian_armstrong) June 10, 2023
Armstrong addressed the lawsuit in the WSJ interview, explaining that he believes those registrations weren’t required for Coinbase to operate.
“The assets that we do trade, those are commodities, so they don’t require those registrations […] we are trading on our exchange crypto commodities.”
He also denied that Coinbase claims to be a broker-dealer, however noted that its broker-dealer licence has not been approved yet.
“We don’t claim to be a broker-dealer, we have acquired a broker-dealer license that is still dormant, because they won’t allow us to activate it” he said.
As for regulations, Armstrong explained that it isn’t “rocket science” and the U.S is going to get to the “right outcome, even if it takes a while.”
He noted the importance of the Coinbase lawsuit for the cryptocurrency industry in the U.S, as a whole, as he hopes it will lead to more clarity and prevent the country from “falling behind” the rest of the world.
He believes only once there is more clarity and stability with cryptocurrency regulation in the United States, will crypto businesses start coming back to the country.
“We will see entrepreneurs who left the US come back. They’ll say we won’t be attacked randomly or have incredibly high legal bills at any given moment.”
Cointelegraph previously reported on April 11 that the share of global crypto developers in the US declined by 26% from 2018 to 2022, with the report citing “little regulatory clarity” as a major factor and as a result “America’s edge may be slipping.”
He highlighted key regulation points that he believes need to be clarified, including clear “boundaries” between the two major United States financial regulators – the SEC and the Commodity Futures Trading Commission (CFTC).
He pointed out that while other countries, such as the United Kingdom have one financial regulator, the US is currently witnessing a “turf war” due to having two regulatory bodies.
He believes that many of the fundamental regulations can simply be transferred from traditional finance such as basic consumer protection, financial statement audit requirements, and procedures for both Anti-Money-Laundering (AML) and Know Your Customer (KYC).
Armstrong reiterated that there is currently “no clear rule book” for cryptocurrency regulations in the U.S., and despite continuously asking the SEC for more clarity, Coinbase couldn’t “get any feedback.”
This comes after Armstrong responded to the SEC lawsuit against Coinbase over Twitter, on June 7, saying that he is proud to “represent the industry in court” and get some “clarity around crypto rules.”


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Jarvis Cocker helps boost Eurostar passenger numbers
By Ed Owen, marketingmagazine.co.uk, Thursday, 08 March 2012 11:13AM
A surreal ad campaign featuring Jarvis Cocker has helped Eurostar post a 6% rise in annual sales to £803m, with passenger numbers up 2% to 9.7 million year on year.
In 2010, Iceland's Eyjafjallajökull volcano erupted, grounding flights all over Europe and giving Eurostar an unexpected boost, thanks to extra services.
Stripping out the boost from the ash cloud in 2010, sales for the year to 31 December 2011 rose 10% compared to the baseline figure, with a net profit of £20.8m.
It was the first time Eurostar has reported results as a single company. It was previously an association of three companies – British-based Eurostar and the national railways of France and Belgium working together.
Pulp singer Jarvis Cocker featured in the surreal Trainstorming ad by Leg which broke in October last year. It featured Cocker with French film director Michel Gondry and Belgian popstar Arno Hintjens discussing what the opening of the 2012 Olympic Games might look like.
In the fourth quarter, Eurostar "leisure" passenger numbers rose 4%, faster than the trend for the whole year, which was up 2% to 9.7 million journeys.
However, business journeys dropped 5% in the fourth quarter and 3% over the year, which the company blamed on the deteriorating economy and the Eurozone debt crisis.
Nicolas Petrovic, chief executive for Eurostar, said: "Over the last year we have invested in upgrading our service and product, and this has resulted in strong growth in sales revenues and passenger numbers. Having completed our first financial year as a standalone business and delivered a strong performance, we are now well positioned to build on this momentum."
Non-EU passenger numbers rose by 20% and now account for 9% of overall traffic. Most non-EU passengers came from the US, Latin America and south-east Asia.
A new fleet of trains will start to come into service in the autumn, designed by the Italian design house Pininfarina, and will feature revamped on-board entertainment.
Petrovic said: "As we look to the year ahead, the combination of the London 2012 Olympic Games and the Queen's Diamond Jubilee, will make the capital one of the 'hottest' destinations in the world this year."
Lionel Benbasset took over as Eurostar's top marketer in January.
This article was first published on marketingmagazine.co.uk
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Porsche has finally unveiled — through a video presentation — the new 911 Turbo S and its convertible version. The German manufacturer had planned to present the two automobiles at the Geneva Motor Show in Switzerland, which was cancelled due to the coronavirus epidemic.
The new-generation Porsche 911 Turbo S offers an unprecedented level of power and comfort. Equipped with a revised 3.8-litre flat-six engine that delivers up to 650 hp, 70 hp more than the previous version, it can accelerate from 0 to 100 km/h in a mere 2.7 seconds (0.2 seconds faster than previously) and reach a top speed of 330 km/h (as did its predecessor).
The shape of the new 911 Turbo S has evolved to become wider and squatter, with a new front wing and 20-inch tires in front and 21-inch ones at the back. Then there is a more dynamic and precise suspension system that offers better stability and road-holding, especially when cornering.
The Porsche 911 Turbo S Coupé and Cabriolet will arrive in Europe this spring and in late 2020 in the US, and will start at US$204,850 (RM863,000) and US$217,650 (RM917,000) respectively.
This article is published via AFP Relaxnews.


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An antitrust lawsuit has been filed against The Walt Disney Company in a case that targets the entertainment monolith’s dual role as content provider and distributor in business dealings.
Disney operates Hulu, the nation’s second-largest over-the-air pay-TV provider, while controlling ESPN. The proposed class action accuses Disney of running the companies as a single entity, saying the arrangement allows the company to negotiate anti-competitive agreements with competitors who have inflated the cost of live television streamed over the Internet.
The lawsuit pits YouTube TV subscribers, who filed the lawsuit Friday in federal court in California, against Disney. They point to business relationships that effectively grant the company the ability to “price floor” for the market and drive up prices across the industry by raising the prices of its own offerings.
“Since Disney acquired operational control of Hulu in May 2019, prices across the [streaming live pay television] The market, including for YouTube TV, has doubled,” the complaint reads. “This dramatic market-wide price inflation was driven by Disney’s own price hikes for Hulu + Live TV.”
The lawsuit points to guidelines in Disney’s contracts with over-the-air pay-TV competitors that require them to offer ESPN as part of the least expensive package they offer. The term effectively restricts the ability of Disney’s rivals to provide an option that omits ESPN, the most expensive Disney-owned cable channel.
Without this requirement, Disney would not be able to prevent competitors from selling so-called “skinny” packages that provide subscribers with a limited supply of live TV channels, according to the complaint.
Cable TV providers have long criticized Disney’s affiliate fees to carry ESPN and its sister networks as part of a cable package. It is widely believed that these fees have been the primary driver of rising basic cable prices over the past decade. In 2015, ESPN’s affiliate fees were up to four times more expensive than TNT’s broadcast fees, which had the second highest price behind ESPN.
ESPN’s leverage eroded with the advent of cord cutting and viewers avoiding cable television. This was largely due to consumers’ aversion to paying for channels they didn’t watch or want. They flocked to cheaper or free alternatives.
The first substantial volley came from traditional cable and satellite television providers who also controlled Internet service providers. For example, in 2015, Verizon began offering so-called “skinny” packages, taking advantage of the ambiguity of contracts that did not expressly cover the distribution of ESPN on the Internet, to end Disney’s longstanding tenures on pay-TV packages. Disney sued Verizon, claiming ESPN’s demotion as an add-on tier was a violation of its carriage agreement. Verizon eventually capitulated.
The lawsuit also seeks ESPN to contractually require ESPN to be included in any basic cable package and by imposing so-called “most favored nation” clauses in those agreements, which ensure that the cost of ESPN affiliation traded with a given competitor represents an industry-wide floor price. This means that if Disney raises the price of Hulu with Live TV, which it operates, its competitors must do so as well.
YouTube TV subscribers say Google’s relationship with Disney has resulted in an increase in the basic plan from $35 to $65 per month. In 2021, YouTube TV said it could provide a basic plan without ESPN for $15 less than it was charging during a feud with Disney over a content deal.
The lawsuit was filed days before Bob Iger returned to Disney to lead the company. Iger, who succeeded Michael Eisner as CEO in 2005, guided Disney through a period of massive growth, mostly by pursuing mergers that cemented its reputation as a global content powerhouse. It acquired Pixar for $7.4 billion in 2006, Marvel for $4 billion in 2009, Lucasfilm for $4 billion in 2012 and Fox for $71.3 billion in 2019 in a deal that included 20th Century Fox studio, Fox Searchlight and FX Networks.
Today, some of the acquisitions would likely be challenged by competition authorities who have turned their attention to consolidation in the media industry.
The suit, which seeks to represent about five million YouTube TV subscribers who say they pay inflated subscription fees, alleges a violation of the Sherman Act.
Disney did not immediately respond to requests for comment.
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