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A new initiative by UK Trade & Investment (UKTI) marks a step-change in the government’s support for exporters and investors. As never before, Britain is open for business.
Unveiled in May, the strategy is at the heart of the government’s ambitious campaign to promote growth through trade and investment. It also sets out plans for practical support for UK firms wanting to venture overseas, and for foreign ones eyeing investment opportunities in the UK.
The UKTI effort is being complemented by the seven-point Charter for Business that has been created by the Foreign and Commonwealth Office, underlining the government’s “joined-up approach to growth”.The trade and investment office’s strategy outlines four pathways designed to work in tandem and achieve balanced, sustainable growth, and to help develop new models of collaboration that include new peer-to-peer software for British exporters.
As well, there will be a renewed focus on partnerships with the private sector in order to boost productivity and improve performance.
We at UKTI have an impressive track record: during fiscal 2009–10 we helped some 23,600 UK firms. They went on to add an estimated £5bn to their profits, up £3.6bn year-on-year.
In addition, our services helped create new jobs and safeguard existing ones at 41% of these firms, 53% of which said their improved business was a direct result of UKTI trade services.
Announcing the Britain Open for Business campaign, Trade and Investment Minister Lord Stephen Green identified the four key elements.
• First, services will target small and medium-sized enterprises that are innovative and show high growth potential, in order to encourage more of them to export their products and services. This will be coupled with assistance for existing exporters, so that they can grow and access more emerging markets.
• Second, the scheme will aim to win new and valuable opportunities in overseas markets for British businesses of all sizes.
• Third, it will attract inward investment by marketing major British infrastructure and regeneration projects to foreign investors.
• Fourth, it will help to build strategic relationships at the highest levels: with the most significant inward investors, including overseas institutions such as sovereign wealth funds, as well as with Britain’s top exporters and major overseas buyers.
“Britain’s future prosperity will be built on business success in international markets, so trade and investment must be at the heart of the government’s foreign and economic policies”, said Lord Green.
The strategy preserves previous successful UKTI programmes, such as Passport to Export and Gateway to Global Growth, he said, and will expand the Global Entrepreneurs’ Programme. It is not, however, a “business as usual” strategy and recognises that UKTI needs a new focus for new times.
“The new strategy is also a ‘living’ strategy,” he added. “As well as setting a clear direction for travel, it takes a flexible approach to accommodate the inevitable changes we will encounter along the road to 2016 and beyond.
“The strategy aims to take UKTI to another level”, Lord Green said. “To make it more entrepreneurial, collaborative, transparent and accountable”.
The scheme is the next step in the process laid down by Trade and Investment for Growth, a white paper published by the government in February, that sets out the strategy for rebalancing the economy—until now built on unsustainable levels of borrowing and spending.
Businesses and business organisations have welcomed the proposals.
“Britain’s recovery and long-term economic prosperity depend on improving our international trading position, so we welcome these measures to put trade, investment and growth at the heart of UK foreign policy”, said David Frost, director-general of the British Chambers of Commerce.
“Besides attracting inward investment, UK firms, particularly small and medium-sized ones, must be encouraged to sell more goods and services overseas”, he said. “The focus on trade promotion for SMEs will be crucial to connecting smaller businesses with opportunities in the global marketplace”.
John Walker, the national chairman of the Federation of Small Businesses (FSB), endorsed that position, saying it would “go some way to encouraging new firms to enter the export arena”.
“Almost a quarter of the FSB members currently export, and a further 12% would consider exporting in the future”, he said. “For many small firms, the challenges of finding customers and the red tape around doing business abroad is a major concern and today’s announcement will help small businesses lead an export-led recovery”.
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dnata Acquires Leading Online Travel Agency
dnata, the world's fourth largest air services provider announced it has acquired a majority stake in Travel Republic (www.travelrepublic.co.uk), the largest privately owned online travel agency in the UK on 3rd January. The acquisition represents one of dnata's biggest business transactions in the company's 52 year history.
Through the use of pioneering technology, Travel Republic offers unbeatable prices on a choice of 120,000 hotels, and flights with some 100 airlines to 650 destinations worldwide. The business provides its website in an increasing range of languages and helps over two million customers a year with their holiday plans. The company has recently launched sites in Ireland, Spain and Italy and with further expansion plans across the rest of Europe, Travel Republic is on target to become one of the largest travel companies in the European region.
The new investment will allow dnata to capitalise on the increasing popularity of online travel booking which has seen dramatic growth in the past year. Travel Republic recorded an increase of over 40% in its annual turnover for 2011 to over £400 million as consumers increasingly prefer to arrange their own holidays independently from traditional tour operators. dnata will use the strength of its global travel network to expand on this further by offering a broader range of destinations whilst maintaining the same price competitive and high-quality customer experience.
The acquisition continues dnata's international expansion and also follows the travel team's recent expansion into India.
"Travel Republic will complement our existing leisure and corporate travel services in Dubai and internationally," said Iain Andrew, Divisional Senior Vice President of dnata's travel business.
"The company has an impressive, dynamic management team and I am confident that together we can further develop the business, in line with the outstanding service and quality for which dnata is renowned."
"We are excited that Travel Republic has joined the dnata family" said Kane Pirie, Managing Director of Travel Republic.
"dnata is forward thinking and ambitious and will help accelerate our growth across Europe and beyond." The acquisition is effective from 28th December 2011, and the business will continue under the Travel Republic branding.
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New Delhi, November 21: The startup registration at the Government e-Marketplace (GeM), the public procurement portal, has more than doubled in the past one year, reports said. The registration of the startups have witnessed a spike and has doubled to 7,438 in just one year as they are receiving many orders from government departments and public sector units, a senior official said. The Government e-Marketplace (GeM) was launched in August 2016 for online purchase of goods and services by all the central government ministries and departments.
GeM CEO Talleen Kumar was quoted by PTI saying that providing increased market access to seller groups like startups, and MSEs has reinforced Prime Minister Narendra Modi’s Make in India initiative. "We now have 48,038 buyers, 7.42 lakh sellers with 2.42 lakh MSEs (micro and small enterprises), 7,438 startups, 10,252 product categories, and 173 service categories. One year ago, we had 40,275 buyers, 2.98 lakh sellers, 59,536 MSMEs, and 3,509 startups”.
The official further added saying that the startups have fulfilled orders worth over Rs 1,800 crore through the marketplace. He added saying that the GeM is taking a number of steps so that more and more startups, MSMEs, artisans and weavers can register their goods and services on this platform. "Presently, over 20,000 artisans and 1.2 lakh weavers have registered so far as sellers and are uploading products in their relevant categories," Kumar added.
Talking about the steps taken for startups across India, the officials said that the GeM portal started a ‘Startup Runway’ so that these entrepreneurs can showcase their innovative products and solutions, and they can also list multiple products with minimal technical specifications. The official said , he said a new and advanced version of the platform will be launched soon which will have powerful features and availability of big ticket items to attract large buyers like PSUs, Railways and Defence.


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Sub-distributor Celltec Limited has entered administration after being floored by a six-figure bad debt caused by a fraud.
Begbies Traynor was appointed administrator on 24 June after the Apple, Canon, Compaq, IBM and Dell distributor ran into financial trouble.
The Whitefield-based firm boasted a turnover of more than £30m.
On its website, Begbies Traynor said Celltec’s 40 staff had been paid until the end of the month. They were employed directly by parent Celltec Holdings, which is not in administration.
Begbies Traynor partner Paul Stanley is seeking a buyer for the business.
"The business had been trading profitably until it fell victim to a fraud last year which cost it several hundred thousand pounds,” he said.
“There has also been a general downturn in the market, so there is a credit crunch element too.”
Eddie Pacey, director of credit at distributor Bell Micro, said: “This highlights that resellers really do need to be careful about who they trade with.”
Vendor talks up partner relationship at Inspire global conference
Firm claims that 7.2 million jobs will be created by AI over the next two decades
Vendor's commercial VP Judson Althoff issues rallying cry to partners as Inspire 2018 kicks off
Vendor hopes newest addition will bolster its data analytics capabilities


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Valve has been in the news recently by introducing the Steam Deck. For those who don’t know, Valve Corporation, also known as Valve Software, is a famous American video game developer, publisher, and digital distribution company. They are the developer for the software distribution platform of Steam and for the game like the Half-Life, Counter-Strike, Left 4 Dead, Portal, Day of Defeat, Team Fortress, and Dota series. We will be looking at their latest Steam deck release date and everything you need to know about this handheld console.
Former Microsoft employees Gabe Newell and Mike Harrington founded the company valve in 1996. In 2003, Valve launched Steam, which every gamer knows how much influence has it made in the gaming industry since its launch. This digital game store accounts for around half of digital PC game sales by 2011. In the 2010s, Valve entered into developing hardware such as the Steam Machine and Steam Deck. They also became a part of developing the HTC Vive and as well as developing the Valve Index virtual reality headsets.
Just by the year 2012, Valve was reportedly worth over US$3 billion, giving employment to around 250 people. Thus Valve becomes the most profitable company per employee in the United States. The company runs on a flat structure, whereby the employees decide what to work on themselves. And looking at the success of Valve, it seems like they are on the right track.
Also Read: Gaming Recommendations: 3 Titles With The Best Gameplay
About Steam deck
Nobody was expecting a Steam deck, and it came out of nowhere. For those who don’t know, Steam deck is a handheld device that can play all of the games in the Steam library. As expected, It’s aimed to take on the Nintendo Switch for PC gaming, and it seems it can, considering the Steam Deck can do a lot more than just play games.
It’s because, Steam deck is not just a handheld game console, but an actual portable PC! Users can plug it directly into a monitor or a TV, can install apps and software, and can even use it to watch streaming video, and as expected, can play any game on Steam. This is a really huge thing when compared against the Nintendo Switch, especially how people had high hopes for Nintendo, but they turned everyone down.
The new Steam Deck runs on a new version of SteamOS, based on the Linux operating system. So an equation may arise, how will the Steam deck be able to handle the games meant for windows in an OS-based upon Linux? And as an answer for that, Valve uses their compatibility tech, Proton. And if the users aren’t still satisfied, they can completely uninstall SteamOS and just install Windows!
Top Tech Releases That Are Perfect Gifts For Gamers
Steam deck release date
As said before, this came out of nowhere, when everyone was talking about the new Nintendo Switch, Valve launched the Steam Deck, and this sure is a head-turner. As of now, it has been said that the Steam Deck will officially start shipping in December 2021. With the Steam deck, it will make Valve’s entry into the handheld gaming business.
Steam’s official site is showing availability for 64GB version in Q1 of 2022, 125 being available in Q2 2022, and Q3 2022 for the 512GB version. Those who are interested can reserve their position with a $5 deposit whenever the reservation goes live. As of now, the steam deck is only available to reserve in the US, UK, Canada, and the European Union. We can expect it to be expanded worldwide whenever they will be able to stock up enough stocks.
According to Valve, When inventory will be available, they will inform the customers to make their purchase. And those who are then not interested can cancel the reservation and can get their money back. Others can pay the rest of the price.
The Steam Deck is currently only available to reserve for the US, UK, Canada, and the European Union. The first Steam Decks reserved will ship in December, but the expected fulfillment date has been pushed into 2022 as reservations stack up.
Also Read: Upcoming Games For The Xbox Series X & Gaming Recommendations


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- Contract Packaging
- Leaders in Packaging
Article | July 31, 2005
Jay's 'family' uses graphics to travel
New ownership of Jay’s is using redesigned graphics to help the brand broaden its distribution.
This year the packaging for Jay’s salty snacks will undergo some subtle modernization both in structure and in graphics. The goal according to new owner Ubiquity Brands Chicago is to modernize the appearance of the packages while reinforcing the equity in the venerable brand.
Unlike when Jay’s was a brand name for the Japp family business in Chicago the brand’s new management is a strong believer in consumer research. “Not many snack food companies believe in consumer research” says Tom Reynolds executive vice president for innovation at Ubiquity. “We feel the amount of time and effort we put into qualitative consumer research is directly related to our new products’ successes.”
In terms of its packaging Reynolds says the company extensively studies what attracts consumers to a package. “We do a lot of focus group work with consumers” he adds. That’s critical because Reynolds is heading up a total redesign of Jay’s products.
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Along with making Jay’s packaging more appealing the goal is also to make a stronger brand statement for its different varieties. “We didn’t have a cohesive look because each package had been developed when the product was developed” Reynolds says. “If you lay our former packages side by side you’d see a lot of different looks.”
Ubiquity retained Haugaard Creative to update the graphics—but only modestly. “Our consumers told us they loved Jay’s and felt they ‘owned’ the brand. They told us they believed it was made locally and so was fresher and had better taste” says Reynolds. “And the brand’s tagline ‘Can’t stop eating ‘em!’ is synonymous with the brand.”
Updating the look
“Our challenge was to keep as much equity of the existing package while contemporizing the look” says Phil Haugaard president of the design firm. Working with marketers at Ubiquity Haugaard decided to use transparent colors over the metallized look to bring a reflective look to the packaging.
Testing showed that consumers felt the reflective packaging indicated a more premium package so Haugaard selected a series of transparent inks. “Because there are so many different products in the line we had to find many colors in the palette” Haugaard pointed out. “Plus we developed a ‘family look’ for each of the Jay’s brands like Krunchers and Crispy Ridged and all the colors have to be different.” Thus far only three of the Crispy Ridged flavors have been introduced in the new packaging.
Together with Ubiquity Haugaard updated the Jay’s logo by giving it some dimension. “We wanted to give it a three-dimensional look and make it more like a button” Haugaard says “and we added the tagline to the logo.”
“We’re trying to communicate that we’re bringing more life to the old established brand” Reynolds says. The new packaging is converted by Bryce Corp. A typical structure for Jay’s is 70-ga coextruded polypropylene/12# low-density polyethylene/70-ga metallized PP. The exterior PP is reverse-printed flexo in up to eight colors says Dan Conley of Bryce.
Violators added too
Ubiquity Brands was a new company in the snack food business last year. Chief executive officer Tim Healy first bought Lincoln Snacks in Stamford CT and then bought Jay’s two months later. Reynolds and Haugaard are also teaming up to improve the graphics for the Lincoln product line that includes Fiddle Faddle and Poppycock brands of caramelized popcorn.
Although the two companies distribute their products differently (Jay’s is mostly direct store-door; Lincoln is via warehouse) Ubiquity is now beginning to cross-sell the two lines with one goal being to make Jay’s Kruncher brand a national product line according to Reynolds.
Even though Lincoln last year tried unsuccessfully to introduce a low-carb version of Poppycock the company hasn’t abandoned the idea entirely. However Reynolds says that its consumers aren’t pushing for healthy snacks. “They told us ‘Don’t ever try to make me believe these products are good for us’” he says. On the other side of the coin he points out consumers also say: “If you can give me reasons to feel less guilty about being indulgent I’ll love it.”
And that’s the main reason the new packages point out that Jay’s is trans-fat-free in a violator on the front panel. The products have always been trans-fat-free but it’s never been promoted before. Much the same was true for Lincoln’s products although a couple did need a slight reformulation.
“Now we’re highlighting that fact on our packages to help consumers feel less guilty about serving these products to their kids” Reynolds says.
National from Chicago?
As Ubiquity looks to make Krunchers a national brand the company recognizes that it may need to improve shelf life.
“We’re working with the University of Nebraska on a shelf life study to help us optimize our packaging” Reynolds points out. “It’s likely that improved packaging will help us lengthen shelf life so that we can distribute Krunchers nationally from Chicago. But at the same time we’re also looking at other opportunities via acquisition that could also help us expand our ‘reach.’”
Reynolds adds that Jay’s has doubled its kettle chip production with spending of more than $10 million in total for 2004-2005. “We’ve also increased our bagging capability too” he says. And Ubiquity plans to open what it calls a “mega-distribution center” just behind the Jay’s production facility in Chicago with a tunnel linking the two. “With that we can really automate the pack-off and palletizing operation” Reynolds says.
So the new packaging graphics may really be just the first “bite” in Ubiquity’s plans to go national.
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DAF Trucks, runaway UK market leader for the last 25 years, has achieved their best year in terms of market share ever last year.
With a share over 30% of the UK’s new truck market over 6 tonnes GVW, (30.5%) the company narrowly beat their own 2016 record by just half of a percent. Still a record is a record, regardless of how narrow the margin is!
DAF may well benefit further in a post Brexit world, as the vast majority of DAF vehicles for the UK market are built at Leyland Trucks in Lancashire. In addition to trucks built for the UK market, the factory exported more than 7,000 trucks abroad to no fewer than 51 countries. So whilst the company is notionally Dutch with US ownership (PACCAR Inc.) a UK truck operator buying a DAF can do so in the knowledge that UK Plc will also benefit.
Larger Share of a Smaller Market
In terms of the numbers of trucks sold, last year was still a little behind DAF’s record way back in 1988. The market was a different beast back then. Efficiencies in transport and increasing payloads has meant that the UK truck market size has dwindled from 68,000 at the end of the 1980s to just over 48,000. So, with almost 15,000 trucks registered (14,814) in 2019, DAF was only marginally behind their previous record by less than 1,000 trucks.
2019 – A Good Year for Truck Sales
All forecasts at the beginning of the year were that the UK would be in the doldrums as far as new truck registrations were concerned. Most industry experts, including the manufacturers, were forecasting just 41,000 registrations. The final results were some 20% higher than this at 48,500. This makes last year the third highest in the last decade – notwithstanding the whole Brexit fiasco and ensuing political and economic uncertainty.
Maybe it was the ‘B’ word that caused these increases in part. Worries about price increases of chassis in a tariff-laden post Brexit crash out in March 2019 and October 2019 meant that canny operators were pulling orders of new trucks forward. This is a phenomenon that we have seen many times prior to the introduction of a new technology or emissions standard – at Euro 6 in 2013, for example.
An example of technology playing a part could be seen to some degree in 2019 as SMART tachos were introduced for new trucks in July and operators ordered early to avoid this.
The triple whammy as far as ordering early came with the introduction of London’s ULEZ which meant that operators had to pull forward orders of Euro 6 trucks to ensure a charge-free entry into the zone.
DAF Trucks Managing Director, Laurence Drake told us, “The best products and services are developed through close cooperation with end-users. We rely on those relationships; with customers who tell us what we do right, and perhaps more importantly, what we do wrong. This dialogue enables us to develop and deliver products and services that meet the market’s ever-changing requirements.”
What’s in store for 2020?
DAF are cautious about their forecast for 2020 – as with their 2019 forecast, they are erring on the side of caution with a low forecast of around 40,000 units above 6 tonnes GVW. We agree that whilst the political uncertainty is behind us, the trade negotiations may still make the UK’s truck buyers jittery.


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Businesses are warning of a 30% increase in the cost of goods, as news filters through that a Brexit deal may depend on the outcome of the US election.
Citing the UK’s former permanent representative in Brussels, Ivan Rogers, The UK’s Guardian newspaper reports that PM Boris Johnson would be prepared to risk a no-deal Brexit if Donald Trump regains the presidency.
The news comes amid heightened anxiety in the logistics sector …
The post More warnings of price rises, as logistics firms feel ‘left in the dark’ over Brexit appeared first on The Loadstar.
Source: The Loadstar


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Early Friday, news broke claiming that Turkey has been levying a 130 percent tax on certain products, including wheat, corn, and sunflower oil, restricting the importing of these products from Russia.
Dismissing these allegations, the Economy Ministry released a statement claiming that the said news "did not bear any truth" and that Turkey's trade policy is set in accordance with rules introduced by the World Trade Organization (WTO).
Meanwhile, in response to the aforementioned claims, Kremlin press spokesman Dmitriy Peskov said in a statement that a possible decision to end the duty-free regime will not affect the normalization process between the two countries.
Moreover, Peskov stated that Turkey is making an indictment on the allegation that the duty-free regime has been finalized in the importation of Russian cereal products. If such a decision is taken, the normalization process between the two countries will not be affected.
Russian Deputy Minister for Economic Development Aleksey Grudzev said, "With regards to the issue we are consulting with the official authorities and private sector representatives," indicating that they would like to meet Turkish authorities.
Alexei Alekseenko, deputy head of Russia's Federal Service of Veterinary and Phytosanitary Surveillance (Rosselkhoznador) stated that Russia has not received any preliminary briefing on the said allegations from Turkey and confirmed that the relevant authorities are discussing the matter, in a statement he made to Russian news agency RIA Novosti.
According to the allegation, which has not been confirmed by the official authorities yet, Turkey has levied a 130 percent tax on certain products, including wheat, corn, and sunflower oil and thus started to restrict the import of these products from Russia.
Russian press also said that the National Association of Agricultural Produce in Russia sent a letter to the Russian Minister of Agriculture Alexander Tkachev and requested a solution to Turkey's decision.


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Redbana has announced that the next major content update to Aika Online will arrive in August. Titled "Zereca’s Plot: Land of Wailing", the new update will feature a level cap increase, Pran improvements, a new zone map and a brand new dungeon to explore.
Just like the players’ characters, Prans have notable changes in this update too. With Pran Skill Improvements better viewed once the update goes live, and the Property Change feature allows for wider customization choices.
Keep an eye on the Aika Online site for more information.


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Take note, parents of children with autism: FDA says supplement is a drug
The product was the subject of a story published in the Times Health section a few months ago: Industrial chemical OSR#1 used as autism treatment
Here's the latest article, on the warning letter from the agency: FDA warns maker of product used as alternative autism treatment
The story quotes Ellen Silbergeld, an environmental health expert at Johns Hopkins University, as saying: "An industrial chemical known to be toxic — his own incomplete testing indicates it is toxic. It has no record of any therapeutic aspect of it, and it is being marketed for use in children."
-- Tami Dennis
Photo credit: Chicago Tribune


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New iPhones are not cheap, with the "affordable" model expected to start at $749 and the price going up to an eye-watering $1,299. But research suggests that Apple owners are in a better position than Android users to stomach such prices.
Must read: Apple has let down every iPhone user
The research, carried out by Personal Capital based on 2 million registered users who have linked more than $760B in asset to the platform, uncovered the following:
- Apple users have a lot more cash than Android users: Apple users average $56K in bank accounts (21 percent more than Android users) and $540K in the investment accounts (41 percent more than Android users).
- Apple users carry a lot more debt: An average of 19 percent more than Android users.
- Apple users spend more time planning their future: But, interestingly, Android users check their finances more often.
- Apple users' home value is about 20 percent greater than Android users: Based on Zillow data.
The willingness of Apple owners to take on debt is interesting and perhaps explains why Apple has extensive financing options and a credit card.
Top 10 iPhone privacy and security tips you should check today


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The rise of mobile viewing platforms means TV stations have new tools to offer advertisers who want to reach viewers no matter where they are. And it means stations can offer a greater variety of options — and price points — to potential advertisers, many of whom don’t buy time on traditional TV. This is Part I of a four-part series. Part II on the automated buying of spot will appear tomorrow; Part III on Thursday will focus on improving digital sales operations; and Part IV on Friday will offer a case study of a successful digital sales effort and the lessons it offers for broadcasters and newspapers alike.
Digital A Vital Part Of Station Sales Arsenals
To keep pace in today’s dynamic media ecosystem, TV station sales departments have had to change how they operate. They have shifted their focus from competing mostly with other TV stations to competing with all other local media as well as national digital media with an interest in local markets.
The shift has led TV sales managers to look for account executives who are skilled in selling digital media and who can hit the streets to drum up new business.
“If you looked at a typical sales force at a TV station or national rep firm six or seven years ago, probably 95% of the people worked on request-for-proposal-type business,” says Frank Comerford, chief revenue officer and president of commercial operations at NBC Owned Television Stations. His oversight includes 10 NBC stations, 17 Telemundo stations and multicast subchannel Cozi TV.
“Over the past five years, we have gone to less than half our people working on pure RFP. We have business development teams who call on advertisers. We have a sports team. We have a digital team. We have local business development teams who sell multiplatform. That is the key to the way we’ve changed. Now, we tend to go out with our portfolio to advertisers as an adviser, rather than selling spots.”
“There’s still the general sales manager,” says Marilyn Hammond, VP of broadcast sales and marketing at Media General. “There’s usually a national sales manager and always a local sales manager. We’ve added digital sales managers in all markets and digital-only sellers in many markets. As markets grow, stations will add to the number of sellers. As the number of sellers grows, stations may add to sales support staffs.”
Michael O’Brien, VP of sales at E. W. Scripps, says the biggest change has been the emphasis on finding new clients. “We have become much better at prospecting, developing and being business partners with these guys.”
Some of the prospecting has led to fast-growing ad categories like doctors, lawyers, financial advisers and construction companies.
Financial services has grown the most from 2007 to 2012, up 18% to $616 million, according to ad-tracking firm Kantar Media. “Local services,” including doctors, lawyers and contractors, was the second fastest-growing over that span, increasing 10% to $2.1 billion.
The shift in focus to new business stems in part from the collapse of automotive ad spending during the Great Recession. Between 2007 and 2009, car sales plummeted and ad sales slid right along with them, down 51% from $4.6 billion to $2.2 billion.
“The changing category dynamics have diversified the business and reinforced a culture of business development,” says Mark Dante, EVP of ad sales at Univision Television Station Group.
Still, he says, Univision stations are working hard to hold onto — and grow —automotive and other big-spending ad categories. Auto is still the No. 1 spot TV category at $3.9 billion in 2012, or 24% of the $16.4 billion in total spot TV spending, according to Kantar.
“We have developed specialist sales teams within our organization that partner and train our sellers on the nuances of the automotive and political categories to help drive growth,” Dante says.
The new business development is almost all local. “Stations certainly have more control over the growth in the local marketplace than they do national,” says Hammond. “With new business efforts and local revenue initiatives, stations can develop revenue from new clients, new categories and new products. There is more direct access to the client on the local side, so the majority of revenue from station initiatives comes through local.”
Multiplatform selling — that is, selling inventory on websites, mobile apps and digital subchannels — is the other powerful trend.
Most stations have added a digital sales manager, digital salespeople and one or two support staff. That’s on top of the stations’ traditional ad salespeople, many of whom now also sell their station’s digital platforms in addition to broadcast TV.
“We sell digital first, then we bundle on television schedules later,” says Andy Lobred, VP of digital media at Media General. “That’s a win-win. It lowers our acquisition costs and it boosts our revenue.”
Scripps’ O’Brien says the goal is to deliver a broad-based service to advertisers. “Our pitch is that we can reach consumers no matter where they are, whether they’re on their mobile phone first thing in the morning or watching on the iPad while the game is on the big screen or if they’re watching something on the phone while they’re standing in line at the grocery story.”
The new platforms have also opened up doors for stations and their sales people.
“I think 10 years ago, a seller may have gone into a business, make a call and come back to the office concluding that a particular client couldn’t afford TV,” says Hammond. “Now, with all that they have to sell, our sellers have solutions for any type of client to grow their business, regardless of their size or marketing budget.”
Among the new platforms they are selling are subchannels like Weigel Broadcasting’s Me-TV. NBC’s Cozi and Sony’s GetTV.
The so-called dot.2s and dot.3s have started to attract viewers. Nationally, Me-TV has an average audience of nearly 500,000 viewers in primetime, according to Nielsen.
The subchannels are no longer thought of as giveaway spots to stick onto an advertiser’s broadcast buy.
“They’re good to package in with our core broadcast channel,” says Hammond. “If a seller is out talking to a client, they have a core station, they have a secondary channel or two and they have a suite of digital platforms. It’s one conversation between the seller and the client.”
Broadcasters remain split on whether it is necessary to have a dedicated digital sales team.
“We all have digital as a shared responsibility,” says Media General’s Lobred. “We have digital sales managers to work with the salespeople every day. It’s their responsibility to make sure we have the right products packaged and the right levels of training for the sales team.”
But others like Jerry Martin, GM of Post-Newsweek’s NBC affiliate KRPC Houston, prefer what he calls the “hybrid” approach.
“We may always stay there with traditional salespeople who are comfortable in transactional business. And then there are people who can develop new business on the TV side and digital side. They will be the new superstars. That’s kind of what we have now on our sales force.”
This is Part 1 of a four-part Special Report. Read all the stories here.


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A MOCKED-up image of Prince George is being used to sell a toy machete.
The nine year old — second-in-line to the throne — appears to be wielding the £19.99 blade in an Amazon advert.
A photoshopped image of Prince George is being used to sell a toy machete on Amazon
The photo of George has been hijacked to promote a wooden machete and axe set sold by a firm called Zhou-long
The original picture of George in shorts and a striped, whale-logo jumper from kidswear firm Pepa & Co was taken by royal snapper Matt Porteous and released for the prince’s third birthday in 2016.
It appears to have been hijacked to promote a wooden machete and axe set sold by a firm called Zhou-long.
Shopper Frank Aldridge told HOAR: “I nearly dropped my cup of tea while I was browsing present ideas for my grandkids.
“There was Prince George looking like an extra from Pirates of the Caribbean.
“I don’t suppose this has the royal seal of approval.”
Last night Amazon said: “All sellers must follow our guidelines and those who do not will be subject to action including potential removal of their account.
“The image in question has been removed.”
One customer seemed pleased with the toys saying: “My boys absolutely loved the sword and axe.
“They are both very good quality and worth the money I spent on them.”
But another said: “My son loves these but unfortunately they are utter rubbish.
“He has played with these for around an hour and they have fallen to pieces.
“He didn’t hit anything, just swung them about.
“Don’t bother unless you have a glue gun or wood glue to fix them.”


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Similar to the case a year ago, numerous shopping locales in Pakistan are putting forth Black Friday bargains for online customers this year as well. These locales will compose huge deals on various things in numerous classifications.
What is Black Friday?
An undeniable and as often as possible happening question in the brains of perusers is about Black Friday. What it is? Why does it seem like some kind of discouraging occasion?
There are two well known hypotheses regarding why the after a long time is called Black Friday. One hypothesis is that the wheels of vehicles in substantial activity on the after a long time left numerous dark markings out and about surface, prompting to the term Black Friday.
Black Friday 2016 in Pakistan Deals Daraz.pk Sales Kaymu.pk
The other hypothesis is that the term Black Friday originates from an old method for recording business accounts. Misfortunes were recorded in red ink and benefits in dark ink. Numerous organizations, especially independent companies, began making benefits before Christmas. Numerous would have liked to begin demonstrating a benefit, set apart in dark ink, on the after quite a while.
Regardless of why it is known as Black Friday, it is one of the greatest shopping days in the entire year. The entire day is set apart with lucrative arrangements and deals on things extending from most current contraptions to every day use things. Prominence of this day has achieved different nations as well, with numerous imitating its prosperity utilizing distinctive names and elucidations.
The shopping extravaganza following Thanksgiving in Pakistan
Some web based shopping locales had a go at recreating the achievement of Black Friday a year ago. In spite of the fact that there have been differing claims about the degree of its prosperity, numerous clients reported that some online sites slammed because of a mind-boggling number of clients attempting to get their hands on marked down things. In any case, such issues are not out of the ordinary when experimenting with something interestingly.
This year, on 25th November, Pakistani destinations are again observing Black Friday with colossal rebates on their items. Clients will have the capacity to benefit these arrangements on taking after sites:
Daraz.pk was among the primary destinations to acquaint this convention with Pakistani clients. They are back this year with gigantic rebates on every one of their things. Daraz is putting forth a rebate of up to 70 percent on their items. They are likewise sweetening up their arrangements with additional 2,000 Rs rebate by utilizing easypay. The arrangements will go live on the site on 25th of November for 24 hours. Yet, with their official portable application, clients can access bargains 2 days prior.
Like Daraz.pk, Clicky.pk is additionally offering a markdown of up to 70 percent on select things. Notwithstanding that, it is likewise offering 80 percent rebate on a few Men and Women Fashion brands. Remember that Clicky is at present just managing perceived and mainstream brands. It brags a noteworthy list of 40,000 items at present accessible for buy on the site. Clicky.pk gives clients a stunning moment look highlight to filter through its tremendously gigantic posting of items.
Yayvo, shopping site sponsored by TCS Pakistan, is another huge player in the online business section of Pakistan. Considered as of the greatest opponent of Rocket Internet wanders, Yayvo is doing Black Friday Sales in association with Jazz Cash. The site is putting forth up to 80% markdown on select rundown of things. The rundown of marked down things will be uncovered in the days to come.
In fact, Homeshopping.pk is not taking an interest in ‘The day after Thanksgiving’ deals this year, neither one of the theys lasted year. Rather, they are directing ‘White Friday’ deals 25th November. What is the distinction between White Friday of Homeshopping.pk and Black Friday of different locales? Nothing with the exception of the name. The idea is same and Homeshopping will offer comparable arrangements on their things. Like different sites, the arrangements will go live on the site on 25th of November.
Kaymu and Daraz, despite the fact that they keep on working under various standards, declared their merger in June this year. Both destinations are working under the single substance known as Daraz gathering. So it bodes well that Kaymu is additionally getting the money for on the ubiquity of Black Friday like its accomplice site. Things which are up at snatch on marked down costs on 25th November will be accessible here.
Like a year ago, Daraz is by all accounts facilitating the greatest deal on this event. Considering the constrained stocks accessible, clients will need to watchful and fast in their shopping to profit the most ideal arrangements. We will continue overhauling this space as more players report Black Friday Sales.


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CFA Ensures "All Forms" Are Included
PITTSBURGH (July 11, 2012) – In conjunction with the House Agriculture Committee’s markup of the 2012 Farm Bill, the Canned Food Alliance (CFA) sent a letter to Committee Chairman Frank Lucas (R-OK) and Ranking Member Collin Peterson (D-Minn.) commending them on the inclusion of a provision in the Farm Bill discussion draft to open the U.S. Department of Agriculture’s (USDA) Fresh Fruit and Vegetable Program to “all forms” of fruits and vegetables, whether they are fresh, canned, frozen or dried.
In addition, the CFA urged the Chairman and Ranking Member to support the inclusion of Farm Bill report language that encourages the USDA to recognize the benefits of all forms of fruits, vegetables and beans – whether they are canned, fresh, frozen or dried – in all federally funded food assistance programs.
“Opening the Fresh Fruit and Vegetable Program to include all forms of fruits and vegetables is a position that is consistent with the USDA’s Dietary Guidelines for Americans that encourage all forms of foods to ensure Americans – especially and including children – get the critical nutrients they need,” CFA Executive Director Rich Tavoletti said. “Allowing schools to have the option to offer multiple forms of fruits and vegetables in this program will help ensure the efficient use of school facilities and budgets without compromising nutrition.”
A recent peer-reviewed study1 buoys this recommendation by showing canned foods provide the important nutrients people need, often at a lower total cost-per-nutrient than fresh, frozen or dried forms. “Practically speaking, the combination of lower cost nutrition, ease of preparation, year-round availability and long shelf life means people are more likely to follow the USDA dietary guidelines if canned foods can figure equally into their options,” Tavoletti said.


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Latest News on Bookmyshow
Showing of 0 - 10 from 34 results
Bookmyshow - Total results - 34
Aug 01, 2019
BTS film Bring the Soul: The Movie to be released in India on 7 August by BookMyShowBring the Soul: The Movie is the third film from BTS following 2018’s record-breaking release of Burn the Stage the Movie
Apr 26, 2019
Avengers: Endgame — BookMyShow sells 2.5 mn tickets of Marvel's latest feature in advance saleAvengers: Endgame marks the culmination of the first three phases of the Marvel Cinematic Universe.
Apr 23, 2019
Avengers: Endgame — BookMyShow witnesses record advance ticket sale, with 1 mn sold in a dayAvengers: Endgame releases in cinemas on 26 April, 2019 in English, Hindi, Tamil and Telugu
Apr 21, 2019
Avengers: Endgame — BookMyShow website, app crashes amid mass bookings for Marvel's magnum opusAvengers: Endgame tickets may be available on Insider, in case BookMyShow crashes.
Apr 14, 2019
Google quietly adds feature that lets you book movie tickets from within searchThe movie booking feature also extends to search queries via the Google Assistant on phones.
Oct 29, 2018
BookMyShow's net loss widens to Rs 140.25 crore for FY18; revenue from operations increase 28.8% to Rs 386.07 croreBookMyShow spokesperson said the company continues to make strategic and long-term investments.
Aug 16, 2018
Flipkart Plus launched: Similar to Amazon Prime, but without subscription feesAfter Flipkart First, the platform is once again venturing into the subscription-based model.
Jun 02, 2018
The business of music: What it takes to bring international rock bands to India, and why Radiohead may never visitExamining why pop music sensations like Ed Sheeran are more likely to perform in India, rather than rock acts like Radiohead, Tame Impala and Arctic Monkeys
May 04, 2018
Jio launches artificial intelligence-based brand engagement platform with new Live Video Call featureOver the next few weeks, Jio will introduce services such as video call centres, video catalogue, and virtual showrooms to the forefront redefining customer experience.
Feb 13, 2018
WhatsApp Payments: Messaging app may turn heat on mobile wallet players, but game has shifted to value-added dealsWhat Facebook-controlled WhatsApp can do, however, is to possibly look deeper into your behaviour than other mobile wallet players like MobiKwik, PayTm etc


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Want to join the conversation?
Scotch tape maker $MMM said it is launching The 3M Total Automotive Sanding System developed through its alliance with Festool brand owner, TTS Tooltechnic. This is designed and equipped for body repair, paint prep and paint finishing, and incorporates Festool's power and dust extraction tools as well as benefits of $MMM high-performing products.
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.
$CSCO shift from hardware to becoming a software behemoth seems to be working for the company so far. Stock has seen a steady rise since the change. But is it sustainable?
Heard about the next generation iPhone. Going by the reports, it is believed that $AAPL will release three iphones this year.
Samsung chief Jay Y. Lee arrested under $36 million bribery charges. Stocks are also down. This is going to impact the sale of its Galaxy 8, set for April release. Here’s an opportunity for $AAPL to capitalize on a rival’s fall.


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Apple Inc's AAPL Chinese suppliers Luxshare Precision Industry and Foxconn have started test production of Apple Watches in Vietnam, according to Nikkei Asia.
What Happened: As Apple looks to diversify its production away from China, the report citing sources familiar with the matter said the U.S. tech giant is in talks to make Watches and MacBooks in Vietnam for the first time.
"AirPods, Apple Watch, HomePod and more ... Apple has big plans in Vietnam, apart from iPhone manufacturing," a source with direct knowledge of the situation told the publication.
"The components for MacBooks have become more modularized than in the past, which makes it easier to produce the laptops outside of China. But how to make it cost-competitive is another challenge," the source added.
An email sent to Foxconn and Luxshare seeking comments didn't elicit any response as of press time.
The Southeast Asian country is Apple's most crucial production hub outside China. It produces a wide range of products for the tech giant, including iPad tablets and AirPods earphones.
This came after Vietnamese Prime Minister Pham Minh Chinh, during his recent visit to the U.S., went to Silicon Valley tech giants, including Apple, to meet CEO Tim Cook. During the meeting, Chinh affirmed his commitment to creating a fair, transparent and market-based business environment to help U.S. firms and investors gain ground in Vietnam.
Price Action: According to data from Benzinga Pro, Hon Hai Precision Industry Co. Ltd HNHPF — better known as Foxconn — OTC shares closed 0.81% lower on Tuesday. Apple shares closed flat at $173.03 apiece.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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Here’s a question for you: how many people are predicted to be international tourists in 2012? That is, how many people in the world crossed a boundary on purpose, voluntarily and did so for the purpose of tourism (rather than as a refugee or immigrant)? The reason I’m asking is because I came across the answer the other day in a Reuters article. Which is lucky for you, because now you won’t have to sit in suspense any longer for the answer.
The World Travel and Tourism Council (a London-based council, the members of which includes executives of travel companies) has compiled global travel data including international airport traffic and visa records and has calculated that in 2012 a record 1 billion people will travel across an international border as a tourist. That’s an incredible number! Roughly one in seven people will thus be tourists this year! We truly live in a time of overall prosperity. (Although, as an aside, I wonder what was the proportion of medieval Europe which crossed different Kingdoms when on pilgrimage? Was it a similar number to one in seven?)
Not only are more people travelling than ever before, but the destinations that people are heading to are more varied than before. The top five destinations in the world contain some classics (but also some surprises). According to the UN World Tourism Organisation they are: Paris, New York, London, Antalya and Singapore. The two countries that receive the largest numbers of tourists are no surprise either: the USA and France. However, they are joined by some new destinations:
“…experts say much of the explosive growth in tourism has been to countries such as Guatemala, the Dominican Republic, and the Ivory Coast, which were off the world tourism map a decade ago.”
So why are there so many tourists today? Basically because tourism is cheaper nowadays and many more people can afford to be tourists.
“While evidence of leisure travel can be traced to ancient Babylon, it began to grow swiftly after World War Two. For the US middle class, it became routine after airline deregulation began in the late 1970s when airlines were forced to compete on prices, said David Bojanic, a professor of tourism studies at the University of Texas San Antonio.
The inflation-adjusted cost of a plane ticket from New York to London today is about one-fourth what it was in 1960, he said. Several factors are responsible for the boom in world travel, including prosperity that has lifted tens of millions of people in Asia from poverty into the middle class, whetting their desire to use their new wealth to travel.
The number of people traveling internationally from China, for instance, has jumped from 58 million in 2010 to 72 million this year, Scowsill said.”
So we are living in a world where there are more of us, and we are more mobile (voluntarily) than ever before. Now, this is surely a good thing? In terms of breaking down boundaries between cultures, religions and races, experiencing the “other” on their home turf as a tourist is a useful tool. (Even if as a tourist, you often get an ersatz version of the visited country!) What do you think? Is a world with more tourists a good thing? Or are they just adding to their carbon footprint like the naughty selfish people that they are?


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AIDSinfo and infoSIDA Websites Now Optimized for Display on Mobile Devices
Editor’s Note: With today’s post, we highlight two key Federal websites that are now responsively designed. For more information, read our blog post about responsively designed sites, including the HIV.gov website.AIDSinfo recently updated the AIDSinfo and infoSIDA websites, and they are now automatically optimized for display across all devices—desktop computers, tablets, and smartphones. Visitors to the AIDSinfo and infoSIDA websites will now be able to access all of the website content on any device they are using. Most people who visit the AIDSinfo or infoSIDA websites on desktop computers won’t notice a difference with this redesign, but people who visit the websites from smartphones or tablets will immediately notice the new design and easy navigation of the websites.
The decision to create a responsive design website—a site that automatically adjusts to any device—was driven by the shift in ways people access the Internet. According to the Pew Research Internet ProjectExit Disclaimer, 63% of cell phone owners use their phone to access the Internet, and of these, 34% access the Internet mostly using their phones, and not computers. Tablet use is also increasing—42% of adults in the United States now own a tablet computer. We have noticed this trend at AIDSinfo as well—over the past several years, there has been a sharp increase in the amount of traffic coming to the AIDSinfo and infoSIDA websites from mobile devices, as illustrated by these statistics:
- Between 2010 and 2014, mobile traffic to the AIDSinfo website increased 10-fold.
- Between 2012 and 2014, mobile traffic to the infoSIDA website increased 3-fold.
- Almost 90% of health care providers surveyed on the AIDSinfo website have Internet access at the point of care (i.e., while caring for patients).
- Of those, more than 2/3 use a mobile device when seeing patients.
With this redesign, health care providers, researchers, people with HIV/AIDS, their family and friends, and anyone who visits the website will now be able to access the HIV/AIDS medical practice guidelines, drug database, fact sheets, clinical trials search, HIV/AIDS glossary, and all of the other website features in an easy-to-navigate format no matter what device they are using.
If you have saved the mobile site URLs (https://AIDSInfo.nih.gov/ and https://m.infosida.nih.gov/ and TwitterExit Disclaimer to stay updated on the latest HIV/AIDS news and AIDSinfo/infoSIDA features!


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According to a recent SAP and Oxford Economics report, 83% of executives say their companies are increasing their use of contingent workers. Intuit reported that by 2020 40% of American Workers will be freelancers. Another recent report from MBO Partners found that today there are approximately 30 million independent workers and that by 2019 this number will grow to 40 million. Clearly there is something going on here with millions of people in America and around the world shifting towards this new model of working.
To learn more about what's going on with freelancers and independent workers I spoke with Gene Zaino, the founder and CEO of MBO Partners.
People want autonomy, to be their own, to set their own schedules, and to have the freedom and flexibility to get work done. We are already seeing the average employee tenure shrinking and with the rise of freelancers and independent workers we are looking at some profound business implications.
What you will learn in this episode
- What does the freelance economy mean for the businesses? What does it means for us as employees?
- What is the state of freelance economy in America and the world
- How to define a solopreneur, an independent worker, or a side-giger
- What role does government regulation and policy play in the freelancer economy?
- How will our traditional idea of employment change?
- Is long-term employment realistic?
- How are companies changing the way they think about work and are they shifting to more task and project based styles?
- What should organizations be thinking about when it comes to the freelancer economy?
Jacob Morgan is a keynote speaker, author (most recently of The Future of Work), and futurist. You can get the first 30 pages of his book for free as well as weekly content on the future of work by subscribing to his newsletter.


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UPDATED: Relativity Media has filed a lawsuit charging that Netflix breached its agreement to stream the mini-studio’s films and did so much damage that it undermined Relativity’s financial underpinnings — forcing the company to put itself up for sale.
The case filed in Santa Clara County Superior Court charges the streaming giant with breaking its contract with Relativity and committing “trade libel” by suggesting that recent Relativity films should be released on the streaming service before they opened in theaters.
The company founded by entrepreneur Ryan Kavanaugh suggests in its legal pleadings that it has suffered damages “in excess” of $1.5 billion.
“We find this lawsuit baseless and ironic,” a Netflix spokesperson said in a statement. During court hearings into Relativity’s bankruptcy, the streaming company argued that it was Relativity that had violated their contract, by failing to produce the minimum number of films and failing to release movies on the dates promised.
Netflix asked U.S. Bankruptcy Court Judge Michael Wiles for permission to release two films – the comedy “Masterminds” and the horror flick “The Disappointments Room” – prior to their theatrical release. Wiles denied that request, saying that the initial release of the films in theaters was a fundamental underpinning of the agreement between the two companies.
In its new lawsuit, Relativity argues that its 2010 contract with Netflix helped the larger company to re-create itself from a DVD-by-mail company into a service that streams films to customers via the Internet.
“In choosing Netflix as its pay television or SVOD partner, Relativity single-handedly converted Netflix from a DVD mail-order company into a pay television business,” the lawsuit contends.
Once it was more established in the streaming business, Netflix decided that it didn’t like the terms of the early agreement with Relativity and tried to renegotiate, according to the lawsuit, filed by the firm of Browne George Ross.
Relativity had received $100 million to $300 million a year under the arrangement, but the doubts raised by Netflix caused others in the industry to wonder whether the mini-studio would continue to get paid, the lawsuit contends. “This misrepresentation of the License Agreement caused investors to question Relativity’s ability to make money,” the suit says, “and caused Relativity to stop making films and cease all fund raising efforts.”
Once it saw that it could not amend its contract with Relativity, Netflix set about trying to destroy the mini-studio to make the agreement go away, the lawsuit contends. “Netflix’s strategy has been successful,” the lawsuit contends. “Relativity has been forced to be put up for sale.”


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- According to the report, women entrepreneurs claimed that their businesses were resilient during the pandemic.
- Most women reported using retained earnings, personal capital, and funds from family and friends to finance their business operations amid the pandemic.
A new report funded by the African Development Bank has found that women-owned businesses in Africa are faring better than expected with relatively high levels of resilience despite the ongoing Covid-19 pandemic.
The Lionesses Business Confidence Report illuminates how COVID-19 is affecting Africa’s leading women entrepreneurs and how their businesses are performing relative to their expectations.
According to the report, 59% of women entrepreneurs who participated in the survey indicated that the pandemic didn’t impact their businesses. In contrast, the report noted that a small minority (5%) said they expect a recovery to pre-COVID-19 levels in 2023 or beyond.


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In the News
See how Silent Eight is transforming the financial industry across the globe.
Online investment fraud has seen a rapid acceleration since the onset of the coronavirus pandemic, and much of society’s most vulnerable people are bearing the brunt.
This article showcases our top picks for the best Singapore based Fintech (Financial Technology) companies. These startups and companies are taking a variety of approaches to innovating the Fintech (Financial Technology) industry, but are all exceptional companies well worth a follow.
HSBC has signed a deal with artificial intelligence startup Silent Eight to provide anti-financial crime technology for the bank.
This December, The Fintech Times is asking industry leaders for their ‘View from the Top’ to gain an insight into the decisions behind the last 12-months. Today, we’re looking at the issue of Artificial Intelligence, hearing from Martin Markiewicz, Aheesh Chanda and Moeen Khan on their 2020 thoughts, plus a look ahead to 2021. Will…
Asia is home to 61% of the world’s population. In terms of Artificial Intelligence (AI), many countries are still in the early stages of development but have a high potential to scale returns.
Despite COVID-19 headwinds, Southeast Asia’s digital economy has remained strong and resilient, adding 40 million people into the online space this year.
With shrinking profits due to the financial impact of the pandemic and increasing regulatory costs, banks are looking to leverage tech to improve their compliance processes—providing a boon for regtechs, with the global market expected to reach $16 billion in 2025, up from $6.3 billion today.
As the COVID-19 pandemic intensified in this end of 2020, the South-East Asia startup ecosystem is forced to adapt to meet the changing landscape. However, while the outlook might have seemed grim, many startups were able to find opportunities for growth, especially in online markets.
These 33 FinTech funding rounds from last week highlight the rise of Scandi challenger banks, the importance of cybersecurity and how competition in the buy now, pay later space is heating up.


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Hulu has launched a second screen service with Nintendo.
Hulu’s premium Hulu Plus customers can use the gamepad of the new Wii U console to access a range of second screen applications and find out more information about a given show while watching it on the main TV screen.
Viewers can also watch content through the Nintendo device and there will be a dedicated Hulu Kids section for younger users.
Dave Herman, Living Room Product Lead at Hulu said: “With our latest innovation, we’ve teamed up with Nintendo to bring you a brand new way to watch your favorite current season TV shows on the biggest screen in the house while using a fully integrated second screen experience.”
Hulu Plus costs US$7.99 a month and new customers can access a one-week free trial of the Wii U service.
Google’s YouTube has also launched on the Wii U. A new YouTube app for the device, available free from the Nintendo Wii U main menu, will enable users to access YouTube videos.


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Despite record sales, Microsoft has reported a $492 million (£313 million) loss for its fiscal fourth quarter ending 30 June. That's due to a $6.19 billion (£3.9 billion) write-down related to the 2007 acquisition of aQuantive, now a part of the company's Online Services Division, and an additional $540 million (£343 million) revenue deferral for a Windows 8 upgrade promotion.
Microsoft's $6.3 billion (£4 billion) deal for aQuantive was its largest until the company paid $8.5 billion (£5.4 billion) for Skype last year.
The software giant, which announced the one-time aQuantive write-down earlier this month, reported quarterly sales of $18.1 billion (£11.5 billion), up from $17.4 billion (£11 billion) in the same quarter last year; an operating income loss of $192 million (£122 million); and a loss per share of $0.06 (3p). For its full fiscal year, Microsoft had revenue of $73.7 billion (£46.9 billion), up from $69.9 billion (£44.5 billion) the previous year, but its annual net income of $17 billion (£10.8 billion) was down from the $23.2 billion (£14.7 billion) in profits the company earned in fiscal year 2011.
"We delivered record fourth quarter and annual revenue, and we're fast approaching the most exciting launch season in Microsoft history. Over the coming year, we'll release the next versions of Windows, Office, Windows Server, Windows Phone, and many other products and services that will drive our business forward and provide unprecedented opportunity to our customers and partners," Microsoft chief executive Steve Ballmer said in a statement.
Microsoft recently announced that its highly anticipated, next-generation Windows 8 operating system will arrive on 26 October. The company has also hit the road in recent weeks to promote the coming releases of a new cloud-friendly edition of its Office productivity software suite, its own in-house Surface tablet running Windows 8, and Windows Phone 8, the mobile device operating system that will for the first time share the same kernel as Microsoft's flagship Windows OS for PCs.
Breaking out the performance of its core divisions as measured against the fourth quarter of 2011 and the full year 2011, Microsoft said revenue generated by its Server and Tools business grew 13 per cent in the fiscal fourth quarter and 12 per cent for the year; its Business Division grew 7 per cent in both the quarter and the full year; sales for the Windows and Windows Live business dropped 13 per cent for the quarter and 3 per cent for the year; the Online Services Division enjoyed 8 per cent revenue growth for the quarter and 10 per cent growth for the full year; and the Entertainment and Devices Division had a 20 per cent bump up in revenue for the quarter and 10 per cent growth for the year.
"Microsoft incurred its first quarterly loss in 26 years, driven by a write-down of their aQuantive investment in 2007, which was designed to improve the company's Web monetization and help it compete better with Google. Aside from that massive charge, Microsoft had a pretty good quarter," said Patrick Moorhead, principal analyst for Moor Insights & Strategy.
"It's interesting that Microsoft only realized 23 percent of its quarterly revenue from Windows and Live. This is actually a positive for them given the increased competitiveness of Apple's iOS and OS X, and Google's Android. Microsoft must very closely manage next quarter so as not to disincentivize PC buyers who may want to wait for Windows 8. The Windows 8 upgrade coupons should help, but even that needs to be heavily merchandised to be successful," he added.


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Report: 1 Million iPad 2's Sold During Launch Weekend
March 14, 2011 2:16 PM
comment(s) - last by
Sells ten times faster than the original iPad
, Apple's iPad 2 sold one million units in its launch weekend, surpassing the milestone almost 10 times as fast as its predecessor.
The iPad 2
went on sale last Friday at Apple, Verizon, and AT&T stores, as well as Target, Wal-Mart, and Best Buy. Large crowds
across the United States, with more than 500 people queued up at Apple's flagship San Francisco store and roughly another 800 at its Manhattan location. The crowds even attracted gawkers.
"Our field checks over the weekend indicate that the iPad 2 sold out at every Apple and non-Apple store we contacted," Ticonderoga Securities analyst Brian White wrote in a research note. "In fact, all the stores had worked through iPad 2 inventory by Saturday afternoon, and there were no new iPad 2 deliveries on Sunday."
that the iPad 2 could potentially have sold one million units in its first weekend, a feat that took 28 days for the original when it hit the market last year. Wedbush Securities analyst Scott Sutherland echoed White's prediction.
With the launch, Apple appears to have secured its number one spot in the tablet market for the time being,
cooling the momentum
that tablets from other manufacturers
such as Motorola
and Samsung were beginning to gain.
Apple is expected to retain 61 percent of
the lucrative tablet market
for 2011, according J.P. Morgan analyst Mark Moscowitz. According to Moscowitz, other companies will have trouble attracting customers the way Apple has.
The iPad 2 is set to launch worldwide on March 25.
This article is over a month old, voting and posting comments is disabled
RE: apple/SJ is still a douche bag
3/14/2011 5:03:39 PM
A gifted douche is way better than mediocre non-douche
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Carl Icahn’s latest buys: Nothing wrong with learning from a great investor.
In Google’s 10 year history it has made only fifteen 52-week lows.
The fund reliably rallied whenever Cuba’s former leader, Fidel Castro, wound up in the hospital.
The current rumor in the gold market: Russia might sell some of its 1,170 metric tons of gold.
Think your gold fund has performed badly? Your bitcoins have been worse.
Congress does its job, passes budget.
When consumers are confident, they are more likely to buy things and keep the economy humming.


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Ways Consumer Can Help Small Business While Holiday Shopping
Across the U.S. we’ve seen an outpouring of support for struggling small businesses in the era of COVID. The upcoming holidays present another great opportunity for people to show support for their favorite small businesses while checking off their holiday shopping lists. But are small businesses ready to capitalize on the 2020 season? With so much shopping moving online, businesses need to be prepared. Facebook’s new research found that, prior to the pandemic, only a third of small businesses had a website, let alone e-commerce capabilities.
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ABOUT THE TECH SHOW THE TECH SHOW is a first of it’s kind technology-themed lifestyle television show. Designed to keep pace with the experienced, novice, and sporadic user, THE TECH SHOW entertains and informs viewers with the latest tech news, gadgets, gizmos, video games, apps, and advancements.


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Recently, nutrition research has been linking both hunger and obesity to the same problem—diets high in sugar and refined starch.
Researchers are now arguing that the current “energy balance” approach to understanding weight gain may be wrong.
Experts recommend that people who are physically able to exercise aim for 150 minutes of moderate-intensity activity every week to reap longevity benefits.
A “green” form of the Mediterranean diet may be protective against age-related brain atrophy.
Finding yourself confused by the seemingly endless promotion of weight-loss strategies and diet plans? In this series, we take a look at some popular diets—and review the research behind them. What Is It? An anti-inflammatory diet is promoted as…
While some studies have suggested that the paleo diet—which focuses on “caveman” foods such as meat, produce, and nuts—may have health benefits, experts argue that the evidence is murky.
What Is It? Mindful eating stems from the broader philosophy of mindfulness, a widespread, centuries-old practice used in many religions. Mindfulness is an intentional focus on one’s thoughts, emotions, and physical sensations in the present moment. Mindfulness targets…
Moderate coffee consumption has been linked to a range of health benefits.
Adopting a healthy lifestyle in middle age may significantly reduce the risk of stroke in women, according to new research from Harvard T.H. Chan School of Public Health. The study analyzed data from nearly 60,000 women who participated…
The popular keto diet—which emphasizes eating minimal carbohydrates and high amounts of fat—has been shown to promote short-term weight loss, but some experts question whether it’s a good long-term option.


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KOURTNEY Kardashian has shown off more of her laid-back style in a new social media video, complete with unruly flyaway hair and no makeup.
The Kardashians star posted a video to her Instagram Stories promoting her Lemme brand.
Instagram/Kourtney KardashianKourtney Kardashian showed off her ‘carpooling look’ on her Instagram Stories[/caption]
Instagram/kourtneykardashThe Kardashians star often shows off her fashion versatility from comfort to glam[/caption]
Speaking to the camera, Kourtney, 43, wore an oversized white sweatshirt and her new platinum blonde hair back in a messy bun.
The reality star looked fresh-faced and gorgeous, without any makeup, and had several hair flyaways.
She captioned the casual video: “This is my carpooling look.”
“Happy Monday morning! I’m about to share some Lemme Debloat reviews,” the reality star said.
“I’m gonna go read a bunch and share my favorites. We were out of Lemme Debloat for five weeks, and now it’s back in stock, and it’s our number one gummy.
“And for those of you who haven’t tried it, I’m gonna share some of my favorite reviews.”
The Hulu star has been keeping her style casual these days, spending time with her family and promoting her vitamin line.
Kourtney was recently photographed grabbing dinner with her rockstar husband, Blink-182 drummer Travis Barker, 47, and her son Reign, eight.
She enjoyed an early dinner with her son Reign and husband Travis at his restaurant Crossroads Kitchen.
The Hulu star wore baggy brown and black checkered pants with knee-high black combat boots.
She also wore a white long-sleeved shirt with Honda logos on it, as she clutched her son’s hand in the parking lot.
She, like her husband, sported designer sunglasses while out and about in Beverly Hills.
The couple was seen holding hands as they arrived at the restaurant, and their casual outfits perfectly complemented each other.
Kourtney’s current relaxed wardrobe is a far cry from the outfits The Kardashians star has been wearing in photos posted on social media.
Kourtney also recently left fans in shock after going completely nude in an NSFW new TikTok video.
She appeared in a TikTok video shared by her lifestyle brand Poosh looking back on the last four years.
The video showed the Hulu star in various states of undress, taking part in various activities promoted by the brand.
In one frame of the video, Poosh’s founder was completely nude.
The sexy photo, which showed her sitting naked on a bathroom sink with a teacup and a laptop in her hands and a towel on her head, was shared in 2019 to announce the launch of Poosh.
Commenters flocked to the comments on the original pic to fawn over the mom-of-three.
“Just some eye candy,” one person wrote as another added: “Absolute beauty.”
InstagramThe Hulu star has been showing off her curvier figure in brand advertisements[/caption]
TikTok/@pooshKourtney recently appeared nude for a Poosh advertisement[/caption]
BackGridThe reality is also not afraid to show her dressed-down style[/caption]


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What are the key things to keep in mind as countries around the world begin to open up for tourists after COVID-19 lockdowns.
Experts weigh in on the expectations moving forward as countries around the world begin to open up for tourists after COVID-19 lockdowns.
Going local, foodie experiences and sustainable travel lead the way for the top travel trends of 2020.
Learn all about Chinese tourists' travel trends from their overseas trips, according to the 2019 Chinese Outbound Travel Consumption Report.
A look into the effects on local hotels in downtown Los Angeles of professional sports leagues, including the NBA and NHL.


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Back in September, we interviewed Lindsey McKeon about her time on "Supernatural," and at the end, she mentioned her inspirational site which does exactly that. I personally loved her message of overcoming adversity
While President-elect Donald Trump, Paul Ryan and the Republicans tussle over a new healthcare system, Adrian Aoun is working on his own answer.
The moment Amazon announced that is was buying Whole Foods, everyone knew the future of grocery markets had changed. Costco Wholesale Corp. quickly saw a drop in their stock
Yes, I know. Ugh, green smoothies? They've been around forever, but there's a reason why. They can truly reinvigorate a tired and listless body. I know because I was there many years ago.
With our appliances and everything us becoming 'smarter,' it only makes sense that we get smarter about our health. Aside from those Fit Bits that track our walking and heartrate, there hasn't been one that can detect if you're sick or on the verge of getting sick.
You don't have to suffer through Halloween watching everyone devour decadent treats when you can eat the same while using whole food ingredients. Drink and treat yourself without the guilt.
Not long after the latest NFL CTE study came out, people were wondering what effect this would also have on high school sports. Now we have our answer.
David Harbour didn't get into that amazing "Hellboy" shape alone, he had fitness trainer to the stars Don Saladino putting him through his paces. The trailer talks about how he got Chief Jim Hopper off those donuts and into such great shape.


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As an attorney, a teacher, and a smart contract enthusiast-Cynthia Gayton is the perfect guest to join Corey Petty and talk about bitcoin and blockchain technology, from a legal perspective.
The Bitcoin Podcast
As of August 2016 we are exclusively powered by Cointelegraph. They are an independent news site that specializes in Bitcoin and digital currencies. We share CT’s long-term ambition to grow along with Bitcoin and become a front runner in the cryptocurrency news/audio space.


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Bigpoint today announced that it has surpassed 250 million registered players for its free-to-play (F2P), browser-based online games. Bigpoint – which has established a global publishing network of 1000+ game portals, social networks, and media sites – attracts over 250,000 new players to its key titles every day, such as Battlestar Galactica Online, Drakensang Online, Dark Orbit, and Farmerama.
“Since 2002, we’ve strived to bring high-quality games and experiences to the widest possible audience,” said Heiko Hubertz, CEO and Founder, Bigpoint. “With players hailing from every corner of the globe, today’s milestone underscores our success – and we’re not done. We’ll continue to challenge the notion of what online games are and can be.”


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Woolworths sells share in New Zealand’s largest retailer.
Flat sales and low margins to stifle Warehouse Group profits.
New Zealand shares spiral as investors question health of the retail sector.
The Warehouse Group looks to future for growth following latest profit result.
New Zealand’s Warehouse Group implements data discovery tool for greater shopper insights.
Warehouse Group cuts annual earnings forecast as warmer autumn and winter weather hit sales.
CFO of New Zealand’s Warehouse Group dies suddenly.
Shares in New Zealand’s largest publicly listed retailer hit six week high.
New Zealand’s biggest listed retailer introduces new employee benefits in a bid to increase workforce.
Warehouse Group profits take a hit, with further declines likely.


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It has been five years since Gameloft released Asphalt 9: Legends. Now leaks and rumors are coming about Asphalt 10. Here's all you need to know about the new game.
Asphalt 10 is the eagerly awaited next installment of Gameloft's massive racing game series. Asphalt 9 was released in mid-2018 and it's still going on strong to date with new additions to the game such as Wild Cards and new maps.
However, with so much advancement in the mobile gaming industry over the past four years, new possibilities are open in terms of graphics, controls, design, and cars.
Players have been urging Gameloft to release Asphalt 10 with improved features. But, in true Gameloft nature, they have been rather tight-lipped about releasing a lot of information. Rumors are circulating that the title of the next installment is "Asphalt 10: Speed." That being said, we've put together everything we know so far about it.
Asphalt 10 - Release Date
There is no official confirmed release date for Asphalt 10.
However, we might be able to predict a potential release date. Asphalt 8: Airborne was released in August 2013 while Asphalt 9: Legends was released in March 2018. If Gameloft took the same amount of time to create the next installment, we could potentially see Asphalt 10 coming as soon as 2023.
Granted, there were a couple of spin-off Asphalt games like 2015's Asphalt Nitro and 2016's Asphalt Extreme that were released between those big titles releases. Despite them not being full-fleshed members of the popular series, they did provide a surprising amount of fun.
Asphalt 10 - Gaming Platforms
Gameloft has stuck with mobile and Windows as its two primary platforms for years. A majority of players game using Android devices so we'll likely see an Asphalt game coming to Android first. Still, iOS offers a slightly better gaming experience due to its improved graphics and battery performance.
However, we have seen an expansion on the platform front with Asphalt 9: Legends being available for Nintendo Switch players in October 2019. On top of that, we saw the game was further made available for Xbox One and Series X/S in August 2021.
The sky is the limit for Asphalt since it continues to deliver high-end graphics and improvements to its already impressive racing experience. We could see the Nintendo Switch and Xbox consoles added to the primary platforms of mobile and Windows with the release of Asphalt 10.
Asphalt 10 - New Controls
Like all new Asphalt games, we can expect a smoother, high-end graphic and optimized gaming experience. Nitro Shockwave was an amazing introduction to the game as it added a new dimension to gameplay. We can only expect newer and better controls to come our way in the next installment.
Advancements in mobile software and hardware, in general, could also enable developers to push smoother tilt controls and maybe introduce new audio and vibrations interactions in the game.
Asphalt 10 - New Cars
Cars are the most significant aspect of any Asphalt game. In Asphalt 9, we have nearly 200 cars and the number can only go higher as Gameloft eyes its target of giving players variety in Asphalt 10.
In recent times, Gameloft hasn't been shy of adding new cars to Asphalt 9 as they continue to collaborate with the biggest names in the car-making universe such as Inferno Automobili and Faraday Future. Asphalt 10 could benefit from these partnerships to deliver some of the most exciting cars to the game.
Asphalt 10 - Esports Competitions
Gameloft has been rather transparent about its ambitions to elevate the Asphalt games into a large esports competition. Tournaments like Vodafone and ESL's Snapdragon Pro Series have garnered a wide array of followers worldwide.
Recently, Gameloft partnered with Indian esports company, Nodwin, to host esports competitions throughout India. Florent Vallauri, the managing director for the SEAP region at Gameloft, had this to say about the collaboration:
We believe, as a genre, arcade racing has the potential to connect with a larger gaming audience. This fits in well, offering racing experiences which let every one prove themselves in jaw-dropping races, feeling the thrill of high-end cars in a highly immersive environment
Altogether, the future seems bright for the Asphalt series. Stay tuned and watch this space for future updates!
Stay up to date with the latest Asphalt 9 news and guides:


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- Real Estate
- Food & Drink
Sept. 6, 2018
Retail veterans Tom Utrera and Stacey Roemen Utrera will open their new, original concept Rust & Co. on Friday.
The 3,500-square-foot store at The Bridges at 57th offers men’s and women’s clothing, shoes and accessories, as well as some surprises.
“We really wanted to make it a unique shopping experience but not too serious, so we’ve incorporated some fun elements,” Roemen Utrera said.
A kitchen-inspired island serves as the checkout, and the space was designed with a relaxed vibe.
“We have a foosball table. There’s lounge areas, so you feel comfortable,” Utrera said. “It was important to build the space so you feel like you’re visiting your best friend.”
The Utreras met while working for Target Corp. Their careers also took them to Pottery Barn and Old Navy. Roemen Utrera is originally from Dell Rapids, which led them back to the Sioux Falls area.
“We’ve really put a lot of thought into the flow of the store and the aesthetic,” she said. “A lot of what retail is about is the experience you have in the store. You might not realize why you like one store versus another, but it might just be a feeling – it’s easy to shop or how it’s laid out or merchandised.”
Rust & Co. includes a wide range of brands and price points. Some brands will be familiar to Sioux Falls shoppers, while others are known more on the coasts and just starting to come into markets such as Minneapolis, the owners said.
“We were looking for brands that embody the quality and versatility of those items you can have in your closet from year to year,” Roemen Utrera said. “It’s not disposable fashion. So we weren’t stuck on certain names. We focused on fabrication and fit. They’re the go-to pieces that you love.”
The size of the space allowed for defined men’s and women’s areas, Utrera added.
“So you feel like you’re shopping somewhat at a curated department store, but it still feels very homey and true to the area here and much more relevant to the community.”
There also are some “fun finds” incorporated into the merchandise mix, including coffee table books.
The business plans to launch an e-commerce site in the coming months and will add staff once operations get running.
A ribbon-cutting is scheduled for 4:30 p.m. Sept. 25, and grand-opening events will be held later that week.
Hours are 10 a.m. to 7 p.m. Monday through Wednesday, 10 a.m. to 8 p.m. Thursday, 10 a.m. to 7 p.m. Friday and Saturday, and noon to 4 p.m. Sunday.
Take a look inside Rust & Co., the new men’s and women’s clothing store opening Friday at The Bridges at 57th.


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INDIANAPOLIS: Consolidated Products, a holding company for the Steak n Shake restaurant chain, is creating a PR department to help get the company’s story out to Wall Street and the business press.
INDIANAPOLIS: Consolidated Products, a holding company for the
Steak n Shake restaurant chain, is creating a PR department to help get
the company’s story out to Wall Street and the business press.
Victor Yeandel, who joined the dollars 38 million company five years ago
as VP of marketing, will become director of the new PR operation while
retaining his marketing post. The size of the new department and whether
it will work in conjunction with an outside PR firm, however, has yet to
’We’re going to walk before we run,’ said chairman E.W. Kelley.
Kelley, who owns 30% of the company, has long worried about the
company’s image. ’I’ve had a very major feeling we were not presenting
ourselves well,’ he confessed. He attributes this to the way the
company’s marketing department had been organized: PR was not any one
individual’s responsibility, which often left Kelley serving as de facto
A major communications problem for Consolidated has been telling
financial analysts exactly what kind of a company it is. Analysts have
tended to lump it in with fast-food companies, but Consolidated views
itself as a step above McDonald’s or Burger King.
’We’re a limited service, casual restaurant,’ Kelley said. ’For a long
time, we have had trouble explaining why Steak n Shake wasn’t a
fast-food, drive-through place.’
Consolidated’s stock, which trades on the NYSE, took a beating last year
as investors turned away from small-cap issues. Common shares, which
traded as high as dollars 18.7 per share last April, have since fallen
to the dollars 9-per-share range. Believing the company is undervalued,
Consolidated has been buying back shares this year.
Consolidated operates 332 Steak n Shake restaurants, including 51
franchised and 11 specialty restaurants (primarily Colorado
Steakhouses), in the Midwest and South. Kelley has charted an aggressive
growth course, planning to add 300 stores over the next five years. The
chain boasts an almost cult-like following in Central Illinois, where it


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Starlink’s basic package price has increased to 699 euros in Spain, following a trend witnessed in other countries such as the United States, where the business justified the increase by citing inflation.
To use Starlink services, you’ll need an installation kit, which contains everything from the user terminal to a Wi-Fi router and an antenna for connecting to the company’s satellite network.
The hardware was 499 euros when it arrived in Spain, the service was 99 euros, and shipping was 60 euros. Any user who attempts to place an order from now on will discover that the total cost rises to 699 euros, which does not include the nine-euro regulatory fee imposed by the National Commission of Markets and Competition (CNMC) or the monthly payment.
Elon Musk’s SpaceX subsidiary, which is also the founder and CEO of Tesla, has hiked the price of its antenna in the United States from $499 to $599. (not including shipping and taxes).
Customers must expect a $50 increase, not a $100 increase, if they have previously reserved the antenna in the United States but have not yet received it.
Starlink has also raised the price of your monthly subscription from 99 to 110 dollars in the United States, its primary market. This resurgence has yet to occur in Spain, where it has been running since the beginning of the year.
This was stated in an email to clients by the corporation, which was echoed by The Verge, which justified the price rise as “the primary purpose of keeping up with rising inflation.”
Starlink has kept the pricing of its premium plan intact for the time being, despite the fact that it is not available in Spain. This bundle includes a $2,500 antenna as well as a $500 monthly subscription. The cost of manufacturing these antennas, according to the manufacturer, is $3,000, thus they are losing money on every sale.
Starlink has launched over 2,000 satellites into space since its founding, and its vice president, Jonathan Hofeller, told CNBC that the company’s global subscriber base now surpasses 250,000.


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SAO PAULO—As business travelers flock by the millions to Sao Paulo—the largest city in Brazil—hotel brands are scrambling to develop in the market, and hoteliers already in the area are reaping the benefits.
In Sao Paulo’s luxury hotel market in particular, international brands are charging upwards of $700 midweek and still are running occupancies in the high 70s and low 80s.
“There’s a limited amount of hotels for the demand right now, especially in the luxury market,” said Gil Zanchi, Marriott International’s country manager in Brazil and also GM of the Renaissance Sao Paulo. “We would love to put more hotels there.”
The last international luxury hotel to be built in Sao Paulo opened nearly 10 years ago; meanwhile demand has increased at a 10% clip during the past three years, said Guilherme Cesari, VP of development for Marriott International in Brazil. Cesari said Sao Paulo has 40,000 hotel rooms, which is not nearly enough.
“Demand is growing at 10% (year over year), and (gross domestic product) is growing at 3% to 4%,” he said. “We should be adding 4,000 rooms a year to attend to this huge demand that is growing.”
However, Cesari said there are no hotels under construction in Sao Paulo. Financing a hotel, especially a large luxury project, is nearly impossible, he said.
“There is a lack of financing in Brazil,” Cesari said. “We don’t find the typical project financing as in Europe and the U.S., where there are 20-year loans and low interest rates and you need very little collateral. Here in Brazil there’s only one type of financing—through (the Brazilian Development Bank)—and that’s the only way you can leverage your investment. It’s the only debt provider in the country.”
For now, hotels in Sao Paulo are doing everything they can to capitalize on the supply-demand imbalance.
On the operating front
“Sao Paulo is the business hub of not only Brazil but also of Latin America. People come here first before anywhere else looking for business opportunities,” said Salo Smaletz, regional VP of development for InterContinental Hotels Group in Latin America. “You can charge rates that are unheard of. If you develop and you want to see returns, right now those returns are achievable. People are paying prices that are so high.”
In March, the overall hotel market in Sao Paulo reported occupancy at 70.8%, average daily rate at 274.38 realis ($150.31) and revenue per available room at 194.14 realis ($106.35), according to data from STR Global, sister company of HotelNewsNow.com. Year over year, ADR was up 18.9% and 17.8% year to date.
The InterContinental Sao Paulo, in the heart of the city’s business district, is 16 years old but just underwent a near-complete renovation. Three years ago the hotel would have been described as “classic,” but today it is described as “contemporary,” said David Pressler, director of sales and marketing at the InterContinental Sao Paulo.
“There are seven hotels of luxury class in Sao Paulo, and they are all maybe between 10 and 20 years old. None of them are renovated,” Pressler said.
Having the newest product in the market gives the InterContinental an extreme advantage.
“The demand in Sao Paulo has been going crazy for the past two years. Our ADR just grew 62% from two years ago,” Pressler said. “Some days we have a rate of $600, $700 during the week. But we are not the only ones charging that.”
The headquarters for many global companies are located in Sao Paulo, and the InterContinental serves as meeting grounds for many of their regular meetings. Ninety-nine percent of demand at the hotel is corporate business, Pressler said. In 2011, the hotel ran 46% occupancy on the meeting space alone, said Pressler, and he expects that number to be between 55% and 60% this year.
The Renaissance is in a similar position, GM Zanchi said. Oil was discovered recently in the area, and many foreign companies are in town attempting to capitalize on that. From Sunday to Friday morning, the hotel is filled with international business travelers.
Zanchi said the Sao Paulo market wasn’t always in high demand like this. There was a construction boom in Sao Paulo in the late 1980s, which led to plenty of over-building, particularly in the condo-hotel market. There was too much supply, and the currency was not as stable. Investors bought condominium units thinking it was a great investment.
It wasn’t until about three years ago that the domestic middle class began traveling within Brazil, and a steady economy and currency led to international interest from venture capitalists.
“Three, four, five years ago the demand wasn’t there,” Zanchi said. “But now, in 2014, we have the World Cup and in 2016 we have the Olympics. There is a lot of positive momentum in the future.”
Outside of the luxury market, even lower-tiered hotels in Sao Paulo are performing extremely well, IHG’s Smaletz said. IHG has a Staybridge Suites hotel located in a corporate area outside downtown, and occupancy and ADR are “skyrocketing,” he said.
“There is a huge number of people coming from the U.S., but also internally people are traveling much more. Brazil has 115 million-plus inhabitants and a growing middle class,” Smaletz said.
The leisure business in Sao Paulo is small but budding, Smaletz said. Three years ago at the InterContinental the demand mix might have been 90% corporate and 10% leisure. Today it is 80% corporate and 20% leisure, he said.