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Christoph Bergmann of BitcoinBlog.de interviewed me about Facebook’s Libra (now Diem), about Libra Shrugged and about Bitcoin.
Here’s the article, in German. [BitcoinBlog.de]
Below are my original answers in English, as used in the article. I got a bit idiomatic, and we had to work through the translation, but the German version seems an accurate rendition of my ideas!
David Gerard is one of the most famous and sharp-tongued critics of Bitcoin, cryptocurrencies and blockchains. His new book, “Libra Shrugged”, however, is dedicated to the cryptocurrency Libra, planned by Facebook (which is now to be called Diem). We talked to him about Libra and Diem — and, of course, what bothers him about Bitcoin.
Hello, David! “Crypto” is full of interesting, bizarre, stupid and dark stories. Why did you decide to write about the loudest announced non-event in the history of cryptocurrency — Libra?
There were two mainstream media stories about crypto in 2019. One was the Quadriga exchange collapsing, the other was Facebook announcing Libra. So I wrote about Libra for Foreign Policy in June 2019, and also did some consultations explaining Libra to companies. I figured there was an interest in the subject, and I started writing the book. I wanted to get the book out in 2019, but I was quite busy, and then 2020 happened. But now the book’s out and done and is getting some interest. You can buy it as an e-book on Amazon and in other stores.
I can understand why Facebook wanted to bring monetary transactions to its social networks. But why did they want to create a new currency for it — and why are they trying to reinvent the blockchain? It seems like the most complicated way to get things done.
The thing is, Libra was a project started by four bitcoiners inside Facebook. They really wanted Bitcoin, but run by sensible people — that is, themselves. So they started with blockchain — how they could apply blockchain to a user base of two billion.
They started with their answer, and then looked for a question it could answer. This never works very well, as anyone who’s been around blockchain could tell you. Nothing in the Libra plan needs a blockchain.
The latest news is that the blockchain doesn’t run very fast — about 24 transactions per second on the Diem testnet. This is a permissioned blockchain, so that’s very slow. It’s certainly not fast enough yet to run a world currency on.
There’s one more thing I never understood: after Facebook announced Libra, the government reacted almost immediately. European finance ministers, like Olaf Scholz, who have so far ignored Bitcoin, promptly announced that he will not allow Libra. Why did Libra stir up a lot more dust than Bitcoin, which is much more anarchist and independent?
The big problem isn’t that Libra is some sort of cryptocurrency — it’s that it’s being done by Facebook, at the scale of Facebook.
The Libra plan involved Facebook printing its own money, and saying it was backed by a reserve. The first problem is, that’s a banking activity. The second problem is, the reserve might exceed a trillion dollars — which is enough money to seriously affect markets for cash-equivalent investments. Money market funds did this in 2008: they bought so many cash-equivalent investments that new “safe” investments were invented to fill the gap, and those turned out to be backed by bad mortgages, and we know what happened next.
So what Facebook did was present a plan that would have caused another 2008 financial crisis, and then they were actually surprised when regulators said “no.” Facebook had such contempt for the history of what they were doing that they’d forgotten events from just eleven years before. Libra being a cryptocurrency is also a problem, but I think that’s secondary.
Libra rebranded as Diem and promised to just do a boring dollar stablecoin on a permissioned blockchain. Do you think this will work out? And will there be any revolutionary potential left?
I’m not convinced Libra had revolutionary potential, except the potential to let Facebook print their own money and swing the weight of their reserve. But running a dollar stablecoin might work. Current regulations make it look like Diem might have to run only in individual countries. And the Diem Association might still have to become a bank to do it. But what you’d have there is something like PayPal but running on Facebook.
Let‘s shift focus a bit. You are one of the most prominent critics of Bitcoin and “crypto.” Why do you waste so much time with it instead of on things you actually like? Or is it some kind of love-hate relationship?
I started making money doing this, so I kept going. It’s functionally a sub-class of finance journalism. I think one of the big problems in cryptocurrency journalism is that the writers don’t approach it as a sub-class of finance journalism, but think their job is to promote crypto. That’s not the job at all. If you mix up public relations and journalism, you get public relations.
But yes, it is really interesting, or I wouldn’t bother!
You’ve been criticising Bitcoin for years. Are you surprised it’s still here, still successful, still growing? Did you ever suspect you might be wrong about Bitcoin — maybe not in an abstract ethical way, but in how people function and how the world is run?
I don’t think the psychology of cryptocurrency has changed in the past decade. The promise to new users is that they’ll get rich for free. Getting rich for free is a very popular product, and that’s not going to change. If new users just believe the weird claims, and keep repeating them, they’ll get rich for free! The product is a promise that you can get rich for free, with some technical handwaving.
The main difference is the technical handwaving — from bitcoin in 2011, to altcoins from 2011 to 2015, to ICO tokens in 2017, and in 2020 it’s been DeFi. But what happens is that bright-eyed naive newcomers come in, and they get scammed. The bad crypto thinking is the same as it ever was: the wishful thinking, the near-magical claims, the conspiracy theories about money — everything that makes the sucker feel like they’ve been welcomed into a big secret.
I expect Bitcoin to be around for decades. All you need is two enthusiasts, and a copy of the blockchain and the software.
How it interacts with the rest of the world is the interesting bit. “Successful” is a question of what it’s successful at. Bitcoin failed hard as the “peer-to-peer electronic cash” that Satoshi wanted. Its only use case is as a speculative commodity, that has a price. I expect the immediate future of Bitcoin is for it to become much more regulated as a commodity. If Bitcoin users want to interact with the world of actual money, they’re going to have to follow the rules of actual money.
Reading your book and your statements, you sometimes seem like a proponent of the “old system” of fiat money and financial intermediaries. Do you think that fiat money has overcome its habit of destroying people‘s wealth by inflation? And do you believe that planting intermediaries between financial actors makes financial transactions better?
This is an example of Bitcoin conspiracy theories about money. Firstly, if you’re keeping your wealth in cash, you’re doing investment very badly wrong. Anyone saying this has no idea how money or economics work in the real world.
Secondly, the cryptocurrency world has recreated the entire range of financial intermediaries. We have crypto exchanges working like bad and incompetent banks, we have scammers doing their best to use finance jargon and getting it subtly wrong, we have a lot of people role-playing as financial bigshots. There are any number of people who will be happy to take care of your cryptos for you. Nobody could look at crypto and say it’s reduced intermediaries.
I try to describe mainstream economics and finance as they work in the real world. These should be completely uncontroversial facts about the world. But this is at odds with Bitcoin theories of money, because Bitcoin theories of money literally come from conspiracy theories. Bitcoin fans assume that describing the real world must be with the intent of advocating for the conspirators.
Let’s say Bitcoin “wins”: Everybody uses Bitcoin to pay and get paid and to save. The security assumptions of Satoshi hold, Lightning scales the blockchain infinitely and makes transactions fully anonymous. What world would we live in?
Bitcoin piles up so many layers of ideas that are bad or wrong or just don’t work.
Bitcoin’s economic problems don’t get talked about so much these days, because they’re overshadowed by the volatility problems, the unusability as electronic cash, and the power consumption problems. But the bad ideas and assumptions on economics are still there: we’d still be up against Bitcoin’s lack of monetary policy. The world tried a gold standard, from the 1790s to the 1930s, and it couldn’t keep up with the growth in the real economy. This is why we abandoned it, and why we’re unlikely to go back to it. So with Bitcoin, we’d be going back to a fixed money supply. We’d see booms and busts every few years, each on the scale of the 2008 financial crisis.
Bitcoiners insist deflation is good. This is simply incorrect. Bitcoiners saying this don’t look at other bitcoiners, who hold their coins instead of spending them because they think the price will go up. A deflationary economy rapidly seizes up — deflation is bad for an economy. Again, I have to stress — this is normal mainstream economics, whether bitcoiners like it or not.
If the Lightning Network became a good payment system, why hobble it with Bitcoin’s issues? Lightning is coin-agnostic — it already works on Litecoin, for example. If Lightning becomes a good and usable payment system, the obvious thing to run it on top of is a dollar-substitute token. This would offer a way out of the problem with using Bitcoin — decouple the assumed good payment network from the known bad payment network backing it, and just have Lightning go fully fiat.
I don’t see how we get from here to a world where everyone uses Bitcoin to pay and get paid and save. In economic terms, this is like saying “first assume 2+2 makes 5. It just does, okay.” Even then, Bitcoin economics would fall apart under its own contradictions. Money is a social construct — money is something someone else accepts as money. Bitcoiners have a habit of assuming everyone else wants money to work the way bitcoiners want it to work — but that just isn’t true, and it’s consistently failed to be true for the past decade.
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Two of the major web browsers are in the midst of changes that could drastically change both user experience and marketers’ abilities to deploy targeted ads and track campaigns.
Here’s the update:
Firefox’s New Default Setting Will Block Ad Trackers
Last Fall, Mozilla added what it dubbed “Tracking Protection” to its flagship browser, Firefox. When switched on, Tracking Protection blocks tracking on all user browsing activity by affecting cookies that hide in the background of your browsing sessions and follow your clicks. This means that users can opt to protect themselves from unknowingly passing on information about their internet behavior to third parties.
In an attempt to permanently eliminate slow webpage load time as a result of certain trackers as well as tackle cross-site tracking (the cause of ads “following” users around the Internet), Firefox has announced that Tracking Protection will soon become the default setting for all Firefox users.
Safari’s New Tool Will Limit Ability to Track Users Across Domains
Similar to Firefox’s update, Apple’s Safari browser is introducing functionality that also aims to block cookies and disable user tracking across domains. “Intelligent Tracking Prevention” is a new feature on Safari that aims to further protect users’ online privacy by changing the way Safari handles first-party cookies.
Essentially, any websites that load things like scripts or images across domains are classified according to a machine-learning algorithm, and cookies that those sites deposit are essentially sectioned off, preventing them from tracking the user starting 24 hours after they first interacted with the site.
What do These Changes Mean for Marketers?
What does all this mean for advertising, particularly on platforms like Google Ads? Google has responded to the Intelligence Tracking Prevention (ITP) tool in particular by changing how it captures and reports conversions within Google Ads, according to Apple’s own recommendations. To help with these changes, Google Analytics has created a new type of cookie, called _gac, which essentially changes third-party cookies (those that Apple’s new machine learning process would quarantine) to first-party cookies that conform to ITP’s rules.
So, if marketers have linked their Google Ads and Google Analytics campaigns, they won’t see any changes and will continue to record conversion data from Safari users. If they haven’t, they will notice that Google records the conversion activity only within that first 24-hour period.
Overall, it’s yet to be seen what overall effect these changes will have on marketers’ abilities. Perhaps this idea from tech CEO Chaitanya Chandrasekar is what matters most:
“Ultimately, one of the most important goals for any advertiser is relevance. When you send the right message to the right person at the right time, they’ll listen. But when you don’t, you run the risk of being filtered out […]. Advertisers will need to ensure they’re 100% compliant with these updated specifications or face very costly consequences.”

domain: news


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A look at the homes tucked into the Cascades.
The Tacoma-born influencer uses her popular TikTok account to shine a light on Washington’s best — and often overlooked— BIPOC-owned eateries.
A day in the life of the program manager of the Washington Center for Women in Business.
Tacoma’s Pacific Box Co. designs, prints, and makes boxes for a wide range of customers and products.
Here are 10 of the most influential folks in our business community, as nominated by our readers.
Spending the day with the owner of Cozy Campers Sleepovers.
Getting to know the owner of Fastest Labs of Tacoma.
Recent and upcoming developments position Tacoma as a city on the rise.
Year after year, each new class of 40 Under 40 honorees seems as varied and diverse as the South Sound business community they’ve been chosen to represent. The 2022 cohort is no different.
This scenic and storied waterfront city of nearly 16,000 is poised to grow by leaps and bounds due to several upcoming development projects.
Take a look at its new renovations.
The Port of Tacoma is experiencing renewed boatbuilding activity.
This month’s edition of Lead + Follow — a Q&A section dedicated to further understanding the personal and professional mindsets of area business leaders — features Trent Breland, co-owner of Salt Hair Lounge in Olympia.
A local entrepreneur blends family recipes with her own muy caliente art to turn up the heat in the culinary world.
Each year, the Milgard School of Business at the University of Washington Tacoma presents its Business Leadership Awards in six categories to recognize outstanding leaders in the South Sound. As this yearʼs media sponsor, we are excited to share the winners — and their stories — with our readers.
Spending the day with the founder of Jones Guitar Co.
Some of the South Sound's most successful businesspeople share their professional wins and losses.
Recurrent looks to energize the pre-owned EV market and benefit the climate.
This month’s edition of Lead + Follow — a Q&A section dedicated to further understanding the personal and professional mindsets of area business leaders — features Mike Griffus, CEO of Pierce Transit.


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Cambridge, Massachusetts (PRWEB) February 07, 2012
Thomas Guerriero the Chairman & CEO of WMX Group, Inc. (WEX Frankfurt Stock Exchange) has confirmed that WMX Group, Inc. has acquired a majority equity stake in Smart Kids Group, Inc. SKGP on the OTC BB, a deal that will bring WMX Group, Inc. front and center into the global media and entertainment sector. The CEO of WMX Thomas Anthony Guerriero said, “ This is a very exciting time for WMX and we are looking forward to seeing Smart Kids grow and expand to every corner of the world”.
Smart Kids develops, distributes and licenses quality children’s EDUtainment products through a variety of media including television, video, retail, direct marketing, and the Internet. SMART KIDS has a substantial library of award winning television episodes in 11 different countries and multiple languages. Using child and family safety awareness as its unifying theme, Smart Kids ’s characters and related products serve a uniquely viable market niche which combines entertainment, educational programming and merchandising, all of which address parents’ and children’s concerns about keeping safe and aware of their surroundings in their homes, their communities, and in an increasingly uncertain world.
Smart Kids is projected to be one of world’s leading producers and provider of quality children’s EDUtainment products. In addition, Smart Kids is producing a complete library of fitness products designed to increase the longevity of mature adults, so that the family unit remains strong as time progresses. Smart Kids has designed a Community website that will provide Smart Kids a safe and entertaining Internet destination, also increasing family interaction within the home. The company is developing to launch a network of retail kiosk stores to extend its brand and wholesome products to families and Smart Kids throughout the world.


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- Reliance JioPhone available at Rs. 500 discount on Paytm Mall
- JioPhone software update brings Google Maps support
- Reliance Jio GigaFiber internet to cost Rs. 500 to Rs. 700 per month; November rollout likely
- JioPhone 2 and Jio GigaFiber announced at the AGM
- RIL 41st Annual General Meeting: Watch the live stream here
- Reliance JioFiber with 100GB per month at 100Mbps speed may launch soon in India
Nearly, five months ago, a relatively new telecom service named Reliance Jio forayed into Indian telecom market with an attractive offer for selected users of Samsung VoLTE smartphones. A couple of months later, the service became official for all the people in the country with a 4G smartphone.
The data speeds before the official launch of Jio 4G were touching the skies, however, after the official launch, the impeccable data speeds are gone due to the massive increase in the user base. In an official note released recently, the service has now crossed over 24 million users in just two months.
Now, a relatively new news popping out online saying that the telecom service is limiting the calls to just 30 minutes per call, which is quite annoying at times. Read on know more about the issue.
30 Minutes Per Call?
The report first came from MakTechBlog, where the writer claims that the Jio is limiting the calls to just 30 minutes per calls. The blog further says that he tested the issue by calling from Jio to Idea Cellular and vice versa and all the time, the result was the same.
No Official Information from RJIL
The issue was later on reported by several users over the country and everyone is claiming the same. But, neither of the Jio's official website doesn't have any info about this issue.
Is the Problem from Reliance Jio?
As of now, there is no info whether this issue is from the side of Reliance Jio or rivals is causing the issue.
The Issue is Quite Annoying!
Users over the country have expressed their views in Twitter regarding this issue and states the issue as the most annoying one.
Happens With Jio4GVoice App as well.
The issue even appears with the official Jio4GVoice as well. So, it looks like the issue is at the server end and Jio might be restricting the calls to just 30 minutes. We will keep you updated with this issue once after receiving some information.


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Peloton is widely recognized for its stationary exercise bikes. Instead of just hoping on a bike and pedaling away, the Peloton bike stood out because it offered a connection to an online community. Users could bike with peers and attend online classes. The exercise giant has expanded to offer classes for various forms of exercise, including running and strength training. In an additional move to widen its brand, Peloton has also added a line of athletic clothing.
Unfortunately for Peloton, another athletic clothing brand, Lululemon, believes Peloton’s recently released line of apparel is in violation of their patent. As a result, Lululemon sent Peloton a cease-and-desist letter, asking the company to stop infringing on their highly distinctive products which included leggings and bras. Lululemon also stated that if Peloton failed to honor the letter, they would take steps to defend their proprietary rights and safeguard their intellectual property.
Peloton countered by filing suit in federal court, noting that their product is clearly different and, to further differentiate the two lines, also notes that the two company’s brands and logos are each distinctly recognized making confusion within the market an “impossibility.” If successful, Peloton’s lawsuit could provide the company with the support it needs to continue operations without the hinderance of Lululemon’s accusations. Lululemon could counter with a request for a restraining order if they can establish that Peloton may be in violation of their IP.
The case provides an example of how allegations of patent infringement can progress — starting with a cease-and-desist letter and moving forward to litigation. As such, it is wise for those who believe their protections are under threat to review the process and determine the best course of action. For some, a cease-and-desist letter followed by a request for a temporary restraining order may be the right legal remedy, for others more aggressive action could be appropriate.


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Men’s apparel retailer Jos. A. Bank Clothiers warned that sales in the quarter ending August 3 had plunged 11% from a year ago. OK, so it suffered from management foul-ups, goofy marketing, obnoxious ads, and – at least at the store I looked at – dusty shirts on the shelf. But it wasn’t an outlier. Instead, it was the latest entry on the laundry list of revenue-challenged retailers whose woes are spreading relentlessly across the US.
Walmart saw its same-stores sales in the US skid by 0.3% last quarter, down for the second quarter in a row, as nothing seemed to work for it anymore. Its customers, whose real wages had been declining for years, were struggling. So it lowered its sales forecast. “Our expectations for the back half of the year are through a lens of cautious consumer spending,” CFO Charles Holley explained gingerly.
Macy’s namesake stores reported the first same-store sales decline in about four years. When sales didn’t meet analysts’ expectations for the first time in 25 quarters, CFO Karen Hoguet offered a hard-boiled, highly quantitative analysis: “We believe that much of our weakness is due to the health of the consumer.”
While Macy’s upscale Bloomingdale’s, the hunting grounds for those who benefit the most from the Fed’s trillions, reported strong sales, it wasn’t all roses in luxury lala-land: Nordstrom’s, which aims for the middle-to-upscale market, knocked down its forecast and said that sales “remained softer than anticipated.”
Hopes for the second most important shopping season of the year, back to school, got slammed when teen retailer American Eagle Outfitters chopped its outlook for second-quarter earnings in half, after confessing to crummy sales – down 2% overall and 7% on a comparable-store basis. “We are not at all happy,” grumbled CEO Robert Hanson, who then blamed women who hadn’t bought enough, lousy traffic, and a price war. But at least they were able to get most of their stuff out the door, rather than suffocate under a pile of out-of-season inventory, he said, adding gloomily, “The domestic retail environment remains challenging.”
Whenever a retailer said anything at all, it doused the market with disappointment. Same-store sales at Costco, a company that could do no wrong, rose 4%; analysts were expecting 5.1%. Consumers weren’t splurging on high-dollar TVs, it seems. At Kohl’s, revenues rose an anemic 2.0%, and comparable store sales edged up a minuscule 0.9%. Sales growth below the rate of inflation is a condition that afflicts many retailers these days – the lucky ones whose sales weren’t falling!
So finally, the University of Michigan/Thomson Reuters consumer sentiment index caught up with reality: it plunged 5.1 points to 80.0 – when expectations were set on 85.5. It was the worst miss since anyone can remember. How could these people get it so wrong when the retail picture had been dimming for weeks?
Either they were afflicted with euphoria, a vision-impairing condition, or they’d paid too much attention to the Commerce Department’s report a couple of days ago that claimed that retail sales had edged up a lackluster 0.2% in July from June, but that auto sales, which had been booming, had suddenly swooned, and that excluding autos, retails sales inexplicably jumped 0.5% (though plenty of categories were in the hole: electronics, building supply, furniture….).
The culprit in the report, the auto industry, has been ecstatic for a while. In July 2012, the sales rate, measured by the “seasonally adjusted annual rate” (SAAR), had been 14.21 million vehicles – superb for the post-crisis new normal, but a far cry from the pre-crisis normal rate of 16 million vehicles. This year, auto sales had been soaring, hitting a rate of 15.88 million vehicles in June, the highest since before the crisis, but then edged down in July to a rate of 15.80 million.
The buying binge had been funded by a phenomenal debt binge with historically low interest rates. Auto loan originations reached $92 billion in the second quarter, the most since the halcyon days of 2007 according to the New York Fed; and auto loan balances rose by $20 billion, the most in seven years, piercing $800 billion for first time since 2008. No wonder the auto industry has been on cloud nine. But sharply rising interest rates have been filtering into auto loans. And auto sales, too, might have reached an inflection point.
After the Fed has handed out nearly $3 trillion, assets prices have ballooned, and some people have become enormously wealthy, but consumers are exhausted. Following the ancient American prescription for saintly happiness, they’d given it all they had, and then much more than they had, and they’d charged it to their credit cards and HELOCs; they shopped till they dropped. But even those consumer woes haven’t wrung the exuberance out of the stock market that reacts only to what it believes the Fed has in store for it.
What rabble-rousers, economists (those banished from the mainstream media), and bloggers have hammered on for years, a study by the San Francisco Fed finally confesses: QE didn’t do a heck of a lot of good for the real economy. The timing of the study is impeccable: the nearing end of QE – and the market mayhem that the end of QE might cause. Read…. The Fed’s Confession: We Can Avoid A Crash At The End Of QE If Everybody Believes That Everybody Believes In A Mirage….
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Shares for Silvergate Capital, the entity that owns a bank that services the cryptocurrency ecosystem, crashed by more than 40% after it announced a delay in filing its annual report.
The company also said it was “analyzing certain regulatory and other inquiries and investigations that are pending,” suggesting that it may have been caught in the crosshairs of an ongoing crypto crackdown by regulators.
Silvergate, which used to be a community bank in San Diego, derives the bulk of its business from companies operating in the crypto ecosystem. They have imploded or deserted the bank since last year amid revelations that crypto exchange Binance’s US subsidiary, another Silvergate customer, was used to move funds to a market maker for its global operations.
Silvergate: Another Crypto Casualty?
Hardly. While most banks and financial institutions stayed away from cryptocurrencies to avoid tarnishing their brand and protect their balance sheets from the sector’s volatility, Silvergate embraced the industry. That association has transformed its fortunes.
In 2013, the community bank reported net income of $1.4 million, the fourth highest quarterly profit in its 25-year history. By the third quarter of 2022, it was reporting quarterly profits of $40.6 million. It had deposits of $13.9 billion in deposits at the beginning of last November and crypto customers were responsible for 86% of the total. Silvergate Capital also became a publicly listed entity in 2019, offering shares to the public for cash to grow its cryptocurrency business.
Cryptocurrencies have powered Silvergate’s business transformation. The company’s product – the Silvergate Exchange Network (SEN) solution – is a platform that facilitates crypto trading by enabling institutional customers to move dollars between cryptocurrency businesses and exchanges. The wrapping of a financial services institution for the solution helps them to cash out in US dollars quickly.
Interest Income and Crypto Downturns
In the SEN arrangement, cryptocurrency businesses deposit cash at Silvergate to enable fiat withdrawals for their customers. The deposits are interest free, and the bank can do whatever it wants with them to generate yield.
Silvergate invested those deposits into treasuries. They generated good yields. At the end of the third quarter of 2022, the company’s interest income had skyrocketed to $90.7 million from $37.9 million. Securities contributed 68.1% of the total figure.
In a high interest rate environment, Silvergate’s investments in Treasuries turned out to be a fortuitous one. While it did not provide a figure for the yield from those assets, it claims that those investments helped it withstand withdrawals of more than 70% of its deposits last quarter. The company said it had sold $5.2 billion of debt to service customers in the final quarter of last year. It also said it realized losses of $718 million by selling some of its treasuries before their maturity dates.
But it is unclear whether there was actually a run on deposits from crypto customers. According to its own filings, the company’s digital asset customer count dropped only marginally from 1,677 to 1,629.
A Takeover Target
A JP Morgan analyst stated in a note yesterday that the company is facing significant regulatory and business challenges stemming from its exposure to cryptocurrencies and was “reevaluating its businesses and strategies.”
He is on the wrong track. If anything, the bank seems to have doubled down on the digital assets operations.
During the company’s latest investor call, Silvergate CEO Alan Lane even suggested that the company might be an ideal takeover target for larger institutions.
“At some point in the future, it is quite likely that a larger institution that wants to get into the [cryptocurrency] space will want to take a look at Silvergate because we have been operating responsibly in the space for over nine years,” he told analysts.
Meanwhile, Jane Street LLC, the same investment firm that incubated disgraced FTX CEO Sam Bankman-Fried’s crypto ambitions, is buying up stake in the bank. Block.one, a company that settled with the SEC in 2019 over an initial coin offering, is another buyer of its shares even as insiders conduct a flurry of transactions.
Perhaps, they know something that we don’t.
MakerDAO Treads the Terra Path
MakerDAO founder Rune Christensen unveiled an “Endgame” strategy some months ago to convert its algorithmic stablecoin, currently backed by a mix of worthless tokens and some US dollars into a stablecoin backed completely by fiat currencies. Earlier this week, the protocol unveiled new economics for its tokens. MKR, its governance token, can now be used to borrow DAI, its stablecoin.
The arrangement should provoke déjà vu for those who have been covering cryptocurrencies. Terraform Labs, which was recently charged by the SEC for an unregistered sale of securities, used the same mechanism to prop up the two tokens – stablecoin UST and governance token LUNA – in its network.
We know how that experiment ended. The chances of a similar occurrence this time around are high because the two tokens in question – MKR and DAI – have an even more convoluted setup than the one that underpinned operations for Terra’s tokens.
DAI and MKR
DAI has lost its peg many times earlier and, much like most cryptocurrencies, exists in a regulatory vacuum. It is generated in the form of loans only by locking up ether (ETH) in smart contracts. Redemption of DAI is a circuitous affair that involves exchange the tokens for ETH and paying fee. There is also a stability fee that its users pay to borrow the token and it is set by MKR holders.
That complicated mode of operations is why the stablecoin is inherently unstable. According to a recent research paper that compared the stability of four coins – USDC, Tether, BUSD, and DAI, MakerDAO’s stablecoin turned out to be the “least stable” among the four.
MKR, meanwhile, has no real use case except for speculation. Even its utility as a governance as a governance token is doubtful since Christensen calls the shots on important decisions related to the protocol. The final stage of Christensen’s endgame was a “Phoenix” stance for DAI. The phoenix, as we know, rose from its ashes. This one will not.


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Kenyans are spending more money on food daily, a survey has shown.
Accoring to a nationwide survey by OnePulse that was commissioned by the Standard, an average Kenyan is likely to spend between Sh200 and Sh399 per day on food.
35.4 per cent of respondents aged between 25 and 34 years said they spend between Sh200 and Sh399 to buy food daily. This comes to Sh 6,000 and Sh 12,000 monthly. Another 28.6 per cent spend between Sh100 - Sh199, whereas 12 per cent spend between Sh400 - 499 per day to purchase food per day.
Those earning Sh10,000 and below per month accounted for a majority of people who spend between Sh200 - Sh399 on food per day.
Interestingly, those who earn Sh500,000 and above (50 per cent) of the respondents said they did not have money to buy food, 27.8 per cent said they did not have an appetite to eat and 22.6 per cent said they did not eat because they were busy.
The onset of the Covid19 pandemic brought catastrophic effects such as hunger, starvation, and loss of livelihood. Before the pandemic, 52.2 per cent of Kenyans ate three meals per day, while 16.8 per cent ate more than three meals. 24.6 per cent ate two meals while 4.20 per cent ate one meal whereas 1.60 per cent ate nothing sometimes.
The figures have since dropped since the onset of the Covid19 pandemic.
For the past three months, 41 per cent of Kenyans now eat three meals per day while 6 per cent can afford more than three meals. 41.6 per cent manage to eat two meals per day whereas 9 per cent manage to eat one meal a day. 1.80 per cent eats nothing sometimes.
The survey also disclosed that a huge number of Kenyans have had to go without food in a day, equivalent to 77.8 per cent who fall between the ages of 25 - 34 years. This bracket is comprised of the male gender, which accounted for 81.64 per cent of the respondents.
Counties with hungry people
The highest number of Kenyans who went without food for a day are in rural areas, standing at 81.48 per cent.
Counties that registered the highest number of men who go for a day without food at 100 per cent include Makueni, Turkana, Trans-Nzoia, Nandi, Baringo, Bomet, Vihiga, Siaya, Homa Bay, Tharaka Nithi, Marsabit, Nyamira, Kilifi, Kakamega and Migori.
The highest number (38.4 per cent) who went without food said they did not have money to buy food. Senior citizens aged 65 years and above are the highest in this category followed by those aged 55-64 years and 16-17 years. 43 per cent were men.
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On the flip side, the majority of Kenyans accounting for 42.4 per cent consider the meals they eat as a balanced diet while 20 per cent do not. Those who consider eating a balanced diet sometimes are 37.6 per cent. "Sometimes because affording a balanced diet is hard at these economic times," said one respondent.


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Veterinarians and pharmacists both responded to a recent study about their views on human pharmacies filling pet prescriptions. Take a look at this dataand get a peek at the future.
Let's talk drug money. (No, not that kind, geez!) Clearly pet medications are increasingly available outside of veterinary practices. You've probably seen in-store promotions for pet medications right next to the signs for flu shots at your local drug store. (In fact, a recent study conducted by Brakke Consulting Inc and Trone Brand Energy shows that in-store signage is the most common way pharmacies that offer pet prescriptions spread the word.)
This additional data from the study shows that competition from human pharmacies is likely to heat up more-more than 50% of pharmacists responding to the study say they either fill pet prescriptions now or plan to-and that you should brace yourself for calls as they get up to speed.
Source: 2015 Pet Pharmaceutical Market Study conducted by Brakke Consulting Inc. and Trone Brand Energy and supported by an educational grant from several leading animal health companies.


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The moment in which PS4 leaves the field free to PS5 has not yet arrived and it seems that an exclusive announced way back 2014 for the old-gen console of the Japanese giant is still a development.
It’s no mystery that Sony still takes the big sister of its latest flagship widely into consideration, and the fact that titles like the successor to Horizon Zero Dawn will be cross-gen proves that once again. .
Aloy’s next adventure will share the same fate with God of War Ragnarok , a follow-up to the title launched on PS4 in 2o18 and Gran Turismo 7, both coming to next -gen and old-gen.
To date, the console has never left the videogame stage and has even been the protagonist of events unrelated to gaming, such as a raid by the Ukrainian police aimed at thwarting an illegal operation.
At the beginning we talked about an exclusive that seems to be still in the works: it is Wild strong>, title of Wild Sheep Studios initially directed by Michael Ancel , father of Rayman and Beyong Good & Evil .
The open world was announced well seven years ago as a PS4 exclusive, and the latest images date back to 2020. As there have been no cancellation announcements, it’s fair to believe may the game still be with us.
Now, a further glimmer of hope comes from some job advertisements popped up on the official website of the software house, which represents one of the most recent signs of the team’s life.
Wild Sheep Studios is in fact looking (exclusively for the Montpellier office) for a Level Artist , and four figures related to programming. Specifically, they are Graphic Programmer, Senior Gameplay Programmer, Tools / Pipeline Programmer and Senior Engine Programmer (via TheGamer ).
It is certainly possible to assume that vacant positions may have something to do with Wild , a procedural title that will put us in the shoes of a Neolithic man.
The latest trailer for the game dates back to 2015 and was presented alongside a behind-the-scenes documentary. There has been no news from Ancel for about four years and it is unlikely that more will come, given the total abandonment of the world of video games in September 202o.
Before saying goodbye to the industry, the director wanted to clarify that the project is “ in good hands “, and the fact that something is moving at least gives hope.
Pending further news, did you know that following the acquisition of Nixxes by PlayStation, the first PC port could be a classic of the PS4 era?
As evidence of the console’s health, a few weeks ago Sony released the 8.52 update: if you’re wondering what it includes, we have your questions answered.
If you don’t own any of Sony’s consoles, you can still try God of War on PC (and it’s an opportunity not to be missed).
Want to retrieve some titles you missed on PlayStation Store? You can do it comfortably by purchasing a refill on Amazon.


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This is the new Kilmarnock away kit 2017/18, Killie’s new alternate strip for the upcoming Scottish Premiership season. Made by Nike, the new Killie away top was officially unveiled on 4 August, 2017, a day before the club officially kick off their new league campaign at home against St.Johnstone. Continue reading
This is the new NTFC home jersey 2017/18, Northampton Town’s new principal strip for the upcoming League One season. Made by Nike (Just Sport), the new home kit was officially unveiled at the club’s Family Fun Day at Sixfields on July 23, 2017. Continue reading
This is the new Steaua Bucharest shirt 2017/18, FC Steaua Bucuresti’s new home strip for the upcoming Romanian league season. Made by Nike, the new Steaua jersey was officially unveiled on 14 July, 2017.
Although better known to the English speaking world as Steaua Bucharest, a court ruling in Romania earlier this year following a dispute with the country’s military saw the club renamed FC FCSB. Continue reading
These are the new Zenit kits 2017/18, Russian giants Zenit St.Petersburg’s new home and away shirts for the upcoming RPL season. Made by Nike, the new FC Zenit 2017-18 shirts were officially unveiled on 12 July, 2017.
Zenit will kickoff their 2017/18 Russian Premier League campaign this weekend with a 8,800 km trip eastward to the city of Khabarovsk (near the Chinese border) to take on SKA. Continue reading
This is the new Killie kit 2017/18, Kilmarnock FC’s new home strip for the upcoming Scottish Premiership season. Made by Nike, the new Killie FC home shirt was officially unveiled on 13 July, 2017, just a day before their Cup tie against local rivals Ayr United at Somerset Park Continue reading
These are the new Kaizer Chiefs kits 2017/18, KC’s new home and away jerseys for the 2017/18 PSL season. Made by Nike, the new Amakhosi shirts were officially unveiled on 13 July, 2017.
Chiefs are one of the most popular club franchises in South Africa, with their Soweto derby clash against bitter rivals Orlando Pirates being one of the most highly attended events in world football. They however could only finish fourth in the 2016/17 PSL season behind the trio of Bidvest Wits, Mamelodi Sundowns and Cape Town City. Continue reading
This is the new Shakhtar kit 2017/18, Ukrainian champions Shakhtar Donetsk’s home shirt for the upcoming Ukrainian Premier League season. Made by Nike, the new Shakhtar 17/18 jersey was officially unveiled on 11 July, 2017.
Shakhtar were comfortable league winners in 2016/17, finishing well above nearest rivals Dynamo Kyiv to seal an automatic spot in the group stages of the 2017/18 Champions League. Continue reading


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What Are Your Daily Specialties?
An energy drink, bag of chips, pack of smokes and beef jerky meet hemp heart bites, hibiscus green tea mixer, acai berry chocolate truffles and blackberry sheep milk yogurt.
It might not sound like these items belong together; but specialty/gourmet foods have a bona fide reason for being in c-stores.
This niche food segment was once considered out of a convenience-store retailer’s league. But today, several factors, including the role of millennials, are propelling the specialty-food opportunity, one that offers $110 billion in sales and 22% growth over the last two years. That’s a market expansion trajectory 10 times the pace of mainstream foods, according to the Specialty Food Association (SFA).
An October webinar sponsored by New York-based SFA in conjunction with researcher Mintel bore out the possibilities. The one-hour session detailed the role that convenience plays in specialty-food buying.
“People are reaching for gourmet snacks regularly, and it’s not just for special occasions anymore,” said David Browne, an executive with Chicago-based research firm Mintel, citing products from artisanal jerky to freeze-dried fruit as widely popular.
Currently, the leading categories driving the niche specialty-food segment are cheese, chocolate, frozen novelties, coffee, cookies, tea, nuts, seeds and dried fruit.
Joining Browne in the discussion was Denise Purcell, editor of Specialty Food Magazine, which is sponsored by the SFA. Purcell communicated granular insights about demographic trends and more, serving up recent developments considered essential for retailers and marketers to watch closely, including:
- Convenience and e-commerce “is king” and will play a larger role looking forward;
- Males, who are doing more of the shopping, have become a force to be reckoned with in this segment, which could not have been said a couple years ago;
- While Gen Xers and baby boomers both have specific needs, it’s millennials who are the linchpin group, possessing the power to make or break the proposition for marketers and retailers. In fact, the 18- to 34-camp makes six visits a month to specialty-food stores, according to Mintel/SFA research.
Millennials have multiple buying triggers, Purcell said. “They buy specialty foods to bring to the office, give as a gift [or] have on hand for guests,” she said, adding that gluten-free has become a vital classification for these types of products.
Focusing the lens on millennials, Purcell broke them out into two groups: 18- to 24-year-olds, who are prone to buying sweet snacks, and 25- to 44-year-olds, who have a preference for meat, poultry, rice and grains. These oldest millennials are pushing 40, and their eating habits are shifting.
Millennials also like to share information about food. “They buy them to entertain and enjoy the social aspect of it,” Purcell said.
Specialty Goes Mainstream?
One key development underscored by Mintel’s Browne is that the specialty-food universe is shrinking and evolving—all because of a selective vetting process to bring in new products and declassify existing ones. “The narrowing of the definition of specialty foods comes when products like Greek yogurt go mainstream,” Browne said.
So what can marketers and retailers do to foster the conversation around these products?
Articulate not only the value but also the point of difference inherent in specialty goods. There’s tremendous opportunity to recruit new users, Browne said, as Mintel research shows 70% of respondents are aware of the specialty-foods market and 80% have heard of the term.
Also compelling: 57% of consumers are aware of and understand the term, while 47% actually buy the products. This 10% gap is crucial to convert those who are merely aware to becoming actual users, Browne said.
The real challenge, especially in the c-store sphere, is to properly market these items, and through that process assure customers that these items are within their means. Certainly, the perception is that specialty foods and beverages carry price points that are too cost-prohibitive.
Stay tuned for Part II of the examination of the specialty-foods niche market, coming to CStoreProductsOnline.com next week. We will put the spotlight on snacking, the GMO equation, corporate responsibility and more granular insights on key demographic groups—including up-and-coming iGen and GenZ (8 years old to 20 years old) consumers.


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By KENNEDY MUPESENI –
INDUSTRIAL players have attributed the drastic increase in demand for chicks to the outbreak of bird flu in South Africa that has prompted neighbouring countries to import chicks and eggs from Zambia.
An official from the Poultry Association of Zambia (PAZ) says increased demand for chicks currently being experienced in the country is a result of outbreak of bird flu in South Africa.
This has prompted neighbouring countries to import chicks and eggs from Zambia thereby causing shortages.
In an interview recently the official stated that selected hatcheries countrywide are experiencing an apparent shortage of chicks because of an unusually high demand that has been necessitated by neighbouring countries opting to buy chicks from Zambia.
“What has happened this year is that, because of the outbreak of bird flu in South Africa, countries which normally import chicken from South Africa are now importing some of the chickens and eggs from countries like Zambia that do not have bird flu.”
A check on most outlets in Kitwe indicated intermitted shortages of day-old chicks but sources from Zamchick indicated that Zambeef Products Plc’s subsidiary is up-to-date with chicks supply across its networks.
PAZ chairperson Rodney Sisala was recently quoted saying confirming that shortage was due to increased demand for chickens and eggs not only from within Zambia but from outside as well.
He assured that hatcheries have been communicated to over the
situation and that a number of them are taking steps to increase their production levels for chicks.
“So within the coming few weeks or months, we should see that situation normalising,” he said.
Mr Sisala explained that the demand for chicks is highest during the few months before the end of the year.
He said generally, this causes a drop in demand for chickens during the first quarter of every year.
Mr Sisala said because of this, hatcheries tend to put the anticipated fluctuation into their planning to avoid making losses.
Poultry farmers on the Copperbelt have in the recent weeks expressed their concern at the shortage of chicks in a number of outlets in the province.


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Facebook has acquired the patents of now-defunct mixed reality startup Daqri to ward off any potential legal challenges in the future. The AR hardware manufacturer was founded back in 2010, but it went bankrupt at the end of 2019 after burning more than $300 million from investors.
The startup had planned to produce augmented reality glasses and helmets for enterprise buyers. The devices would have protected the workers by superimposing helpful information and instructions onto their field of vision. During the company’s initial days, augmented reality hadn’t grown into the popular technology that it is today. However, the bankruptcy came as a surprise as the company seemed to be doing quite well with its B2B strategy.
Post the bankruptcy, several of the company’s assets have been auctioned off, and data from the US Patent and Trademark Office, USPTO, suggests that Facebook has been a frontrunner for amassing their patents since then. Reportedly, more than a hundred patents and patent applications for AR-related technologies ranging from holographic lenses to software kits for developers have been taken over by the social media giant.
The company selling Daqri’s patent portfolio had stated that the patented technologies could serve as a basis for developing and commercializing world-class AR solutions. The said technologies were described to have wide-ranging enterprise applications and provide unparalleled progressive opportunities to the buyer.
Nevertheless, from Facebook’s point of view, this seems more of a defensive acquisition unlikely to have any significant impact on the company’s AR plans forward. Therefore, it should be considered a legal safeguard as patent trolls and even serious organizations or people could sue the company for massive sums of money for patent infringements. Therefore, it’s better for the tech giant to control the patents rather than let them fall into the wrong hands.
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It's no Alibaba, but the Citizens Financial Group offering is important to the market.
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The generics drugmaker plans to tackle AstraZeneca's blockbuster antipsychotic drug Seroquel next.
Late last month, the U.S. Food and Drug Administration had approved Dr. Reddy's abbreviated new drug application for the generic drug. Seroquel is approved for the treatment of schizophrenia and bipolar mania.
With the "stress test" behind it, the clouds are clearing for this leader in the financial sector.
Our technical screens generally don't uncover many mega-cap companies like JPMorgan Chase & Co. (JPM), with sales of $111 billion and a market cap of $172 billion.
But the the stock is one of the strongest in the market now because investor perception of the ﬁnancial group has taken a sharp turn for the better. There are two main reasons for that.
The daily-deals company restates its fourth-quarter earnings
This is fairly unusual for a newly public company, since Wall Street has no history of quarterly results to go on and it's crucial for a new stock to build trust out of the gate. Unfortunately, Groupon scared many investors into thinking this company is at best sloppy and at worst corrupt -- resulting in a sharp sell-off that sent the company stock tumbling.
The engines will comply with 2014 fuel efficiency and greenhouse gases regulations.
By Zacks Equity Research
Cummins Inc. (CMI) announced that it will launch diesel engines in compliance with 2014 fuel efficiency and greenhouse gases (CHG) regulations beginning in January 2013. The engines will deliver up to 2% fuel economy improvement over those produced nowadays and will be available for North American trucks. They include ISB6.7 to ISX15 lineups.
In August 2011, Cummins intended to begin actions to comply with the new fuel efficiency and GHG standards of 2014. The standard was proposed by the U.S. Environmental Protection Agency and the U.S. Department of Transportation.
While hot IPOs can be chalked up to froth, the success of secondary stock offerings from Dunkin Brands and Dollar General proves the true power of this market.
The heck with IPOs as a way to judge a market. Secondary offerings tell a much better story. Why would you ever put in for stock in a secondary unless it was deeply in the hole, meaning that it came at a substantial discount to where a stock was trading ahead of the deal?
But we got two deals this week that showed the true power of this market: 25 million shares from Dollar General (DG) shareholders, priced at $45.20, and 26 million Dunkin Brands (DNKN) shares at $29.50. Neither stock was sold at much of a discount to the last day's trading.
The online deals company revises its fourth-quarter losses, while the coffee chain sets its eyes on Chinese expansion.
Groupon (GRPN), the online deals company, revised its reported fourth-quarter results lower and said its independent auditor determined it has a "material weakness" in its internal controls. Groupon affirmed its first-quarter guidance, reiterating its revenue forecast of between $510 million and $550 million.
Starbucks (SBUX) is planning a big expansion of its China business, according to reports. The coffee-shop operator plans to triple its number of stores in China to 1,500 from 500 by 2015, said John Culver, the head of Starbuck's China and Asia Pacific business, according to The Wall Street Journal.
These stocks have taken a tumble during a positive period for the markets.
The Standard & Poor's 500 Index ($INX) has posted gains in five of the past six months and is on pace for the best quarter in over 10 years.
However, equities are showing signs of weakness as the new durable goods orders report only increased 2.2% in February, compared to estimates of 3%.
"The global recovery is not as robust as we may have thought or wished it was," Todd Schoenberger, managing director of LandColt Trading, recently told CNBC. "All the news out there is telling us that there was nothing organic about this rally."
Many of the top online games run on Flash, and Adobe is looking to cash in on this success.
About 1.3 billion devices and nine of the top 10 social games run on Flash, and Adobe wants a bigger piece of this action. The company aims to charge game developers 9% of their gross revenue after the first $50,000 for using a set of premium application programming interfaces, or APIs, designed to enhance the gaming experience.
The company is buying ClearAccess to get more revenue from online video traffic.
By: Zacks Equity Research
Cisco Systems (CSCO) is planning to buy privately held ClearAccess for an undisclosed amount. The transaction is expected to be completed by the fourth quarter of fiscal 2012.
ClearAccess, a Vancouver company, provides hardware and software for Internet service providers to manage increasingly complex networks for homes and mobile devices.
It may be better for the company to form a partnership rather than investing heavily in building out the whole network infrastructure.
Sprint (S) recently showed interest in forming a partnership, offering its network for Dish to host its recently acquired spectrum from DBSD and TerreStar. Like the belle of the ball, Dish may now have its choice of partners.
The company is working to gain share, building on its strength in the low-end of the mobile phone market.
With energy costs painfully high, a look at whether current prices are justified.
Everyone has an opinion on the prices of oil and gas. And unless you're an Iranian oil minister, you probably think they're too high.
But are they? I tackled the topic at length in my column this week, with a focus on how the Federal Reserve's easy-money policies are pushing up real assets, like crude oil, through dollar devaluation. Tight supplies and geopolitical tremors are contributing as well.
Energy analysts at Barclays Capital took a look at the issue in a note to clients today coming up with a single answer for what they feel the fair price of oil is. Their answer? It just might surprise you.
The company is left with higher inventories of outerwear, but is seeing improved spring traffic.
Shares of men's clothing company Jos A Bank Clothiers (JOSB) were slumping again Friday, two days after reporting a disappointing fourth quarter.
The stock tumbled some 10% after news of the quarter, and was trading Friday at $50.44. Before the quarterly report Wednesday, shares had been close to $55.
Margins are falling at the clothing chain.
The chain is burdened with heavy debt, but it's slowly increasing sales and profit.
The specialty store is a haven for knitters and silk-flower fans, and has expanded over the years to offer kids' crafts, picture-framing services and scrapbooking supplies.
The stock might sound familiar to you. That's because Michaels was public before two private-equity companies paid some $6 billion to take it private in 2006. The companies paid $44 a share for the company -- and now, they're looking to get some money back.
The trend is not Safeway's friend and a rescue looks unlikely.
Safeway's (SWY) initial disclosure of its pension obligations was enough for a Credit Suisse analyst to downgrade the stock from outperform to neutral earlier this week.
As an analyst, I look at the new rating as a change from "I don't see any way out of its pricing problems vs. the competition," to "I don't see any way out of its pricing problems vs. the competition, and now it cannot use a significant portion of its balance sheet to help reposition itself, either." Yuck.
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New study finds members of this global elite are stashing an average $600 million each in cash -- 10 times more than a year ago.
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
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[BRIEFING.COM] The stock market began the new trading week on the defensive note with small-cap stocks pacing the retreat. The Russell 2000 (-1.4%) and Nasdaq Composite (-1.1%) displayed relative weakness, while the S&P 500 lost 0.8% with all ten sectors ending in the red.
Global equities began showing some cracks overnight after China's Finance Minister Lou Jiwei poured cold water on hopes for new stimulus measures. Specifically, Mr. Lou said the government has no plans to change ... More
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Search For "textile sector"
Updated : 1 month, 3 weeks ago IST
New Delhi [India], October 6 (ANI): Prime Minister Narendra Modi on Wednesday said that the union cabinet's decision of setting up seven PM Mega Integrated Textile Region and Apparel (PM MITRA) parks will give an impetus to the textiles sector.
New Delhi [India], October 6 (ANI): Following the Cabinet's approval for setting up seven Mega Integrated Textile Region and Apparel (PM-MITRA) Parks across the country, Apparel Export Promotion Council (AEPC) Chairman Dr A Sakthivel on Wednesday said the move will help India regain its glob
Updated : 2 months, 3 weeks ago IST
New Delhi [India], September 8 (ANI): The textile industry on Wednesday welcomed the Union Cabinet's approval of the production linked incentive (PLI) scheme for the textile sector aimed at boosting manufacturing activities and jobs, besides scaling up exports.
New Delhi [India], September 8 (ANI): The Union Cabinet headed by Prime Minister Narendra Modi on Wednesday approved the production linked incentive (PLI) scheme for the textile sector.
Updated : 5 months, 3 weeks ago IST
Surat (Gujarat) [India], June 12 (ANI/PNN): MANTRA being a textile research association having a huge NABL accredited laboratory of various instruments and IDT being the leading design institute considering the needs of every design aspirant, as well as the industry, have joined hands togeth
Updated : 6 months, 2 weeks ago IST
Mumbai (Maharashtra) [India], May 19 (ANI): India Ratings and Research (Ind-Ra) has said the second Covid-19 wave may slightly impact the textile sector's supply and demand dynamics primarily in 1Q FY22.
Updated : 8 months ago IST
Islamabad [Pakistan], April 2 (ANI): Pakistan's textile sector is "disappointed" by the government's decision to not allow the import of Indian cotton and has said that buying cotton from the neighbouring country is the need of the hour to avert big loss to textile exports.
Updated : 1 year, 1 month ago IST
Mumbai (Maharashtra) [India], October 6 (ANI): The US withhold release order on cotton and apparel imports from specific producers in Xinjiang Uygur Autonomous Region (XUAR) may escalate global trade tensions and thus have negative implications on Indian textile sector in the short run, Indi
Updated : 1 year, 2 months ago IST
New Delhi [India], October 3 (ANI): Prime Minister Narendra Modi addressed an international webinar on textile traditions organized by ICCR on Saturday and said the textile sector has always brought opportunities.
Updated : 1 year, 3 months ago IST
Jaipur (Rajasthan) [India], September 3 (ANI): The Rajasthan government has entered into a Memorandum of Understanding (MoU) with a private company for the development of facilities related to the aviation, defence and textile sectors.
New Delhi [India], Sep 2 (ANI): The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved for signing of a Memorandum of Understanding between Textiles Committee, India and Nissenken Quality Evaluation Centre, Japan for improving quality and testing of Indian textile
Updated : 1 year, 9 months ago IST
Mumbai (Maharashtra) [India], Feb 19 (ANI): India Ratings and Research (Ind-Ra) has revised the textile sector's outlook to negative for FY21 from stable as weak domestic demand growth, threat of cheap imports and dwindling incentives and exports are likely to keep volumes muted.


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Oakhurst Dairy, based in Portland is celebrating its 100-year anniversary this year. Originally founded in 1921 by the Bennett family, Oakhurst Dairy has long since been a staple in the Portland community and Maine as a whole. To celebrate this milestone, President and CEO John Bennett wants to embrace the past but focus on looking forward to the future of Oakhurst Dairy.
When most companies celebrate an anniversary, it’s usually just a look back, but Oakhurst wants to celebrate a little bit differently and make it more about who we serve. We have the opportunity during a very trying time, to encourage everyone around us to pour on the kindness, goodness, and Maineness.” Bennett said in a press release issued by the company. “Today, more than ever, we need to celebrate the act of simply helping our neighbors, because each act of kindness, no matter how small, has a ripple effect that serves to make our state and communities stronger and healthier.”
Oakhurst Dairy wishes to focus on the following core values of their company in the years to come: transparency, sustainability and a community focused outlook. Oakhurst claims that they will always stand up for what they believe is right, and the company did just that by asking its milk producers to stop using an artificial growth hormone in the company’s milk. However, the Food and Drug Administration has made statements clarifying that there is no substantial difference between milk with growth hormones and milk without.
Oakhurst Dairy came from humble beginnings. When it was founded in 1921, it was known for delivering milk to Portland homes in glass bottles, while the delivery driver rode in on a horse and buggy. Now, Oakhurst Dairy has succeeded in placing their products in grocery stores and schools all across the state. Additionally, it has even expanded its inventory to include more than just dairy products and now carry juices as well.
Bennett shared how far Oakhurst has come in a statement released by the company.
“My family started this company with a vision that was much more than just bottling and distributing milk–Oakhurst has always been about standing up for and doing what’s right. I am proud to say that this fundamental truth is still alive and well at our company. We are committed to addressing key issues in our community, doing right by our farmers, creating and providing the very best products on the market, and being mindful of sustainability and the next generation every step of the way. I’m so proud of what the Oakhurst team has accomplished–cheers to 100 years and, hopefully, another 100 to come,” Bennett said.
Oakhurst Dairy is celebrating this iconic year by hosting some celebratory events. There will be internal celebrations rewarding employees at their company, an unveiling of retro packaging to come in the summer months and an effort to partner with local Maine companies to co-host events and programs throughout the year.
Bennett is grateful for the support Oakhurst Dairy has received over the years from Mainers. Many Maine-based businesses such as Hannaford have carried Oakhurst Dairy products for years and have contributed to the company’s astounding success. Also important has been Oakhurst’s loyal customer base throughout the state.
“To Mainers and beyond, thank you for coming along for this 100-year ride. If you grew up around here chances are you grew up on Oakhurst milk. The Oakhurst team is so proud to be your local dairy company, and we look forward to another century by your sides and in your fridges,” Bennett said in the press release.


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Over the summer, Don Mills and David Campbell will be interviewing the founders of high-growth potential companies across the region. The series starts with David Shipley, the CEO of Fredericton-based Beauceron Security.
Are Atlantic Canada IT firms scaling up as fast as the rest of the country?
New Brunswick is well known for its farming industry. It has the value chain to support growing things and a highly skilled workforce with expertise that has supported the industry for generations. Everything is here for innovative agritech companies to thrive, companies like Fredericton’s PICKETA SYSTEMS.
SMART SKIN TECHNOLOGIES (SST) IS GROWING FAST–ALMOST TOO FAST.
The Fredericton-based “industrial internet of things” productivity solutions company raised $10.7-million last June to help accelerate its growth in the food, beverage, and pharmaceutical industries.
Pond, the chairman and co-founder of Mariner Partners and co-founder of East Valley Ventures, chats with co-host David Campbell about his career starting out in the mid-1960s at NBTel, dealing with “party line” complaints in rural New Brunswick, rising to CEO of Aliant, and then nearly two decades of founding and investing in IT startups across Atlantic Canada, including Radian6 and Q1 Labs.
Click here to read more and to listen to the podcast.
Sandpiper Ventures has closed its first round of venture capital fundraising, bringing in more than $10-million.
As the Covid-19 pandemic raged around the world, the four Atlantic Canadian provinces came together in an unprecedented spirit of cooperation and collaboration to tackle the challenges it presented. The result was one the safest places in the world, with untold lives saved. That showed what we can do as a region when we work together.
Halifax startup Trip Ninja is ceasing operations.
The company announced its decision late on September 8, saying the pandemic and its impact on the travel industry has taken a toll.
Former premier Frank McKenna says it’s time to propel the province forward in the age of computer and digital technologies. He believes, with the right investment, New Brunswick won’t just catch up with other jurisdictions, it will become a global leader in the information era.
When David Shipley first started his Master of Business Administration (MBA) at UNB Fredericton, he had no plans to start his own business.
At the time, he was working in the university’s marketing department. He saw an MBA as a way to advance his career within the organization.


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Though E3 was once the biggest stage of the games industry, recent years have seen its popularity eroding at an alarming rate. The last couple of years have seen its organizing body, the Entertainment Software Association (ESA), trying and failing to get the show off the ground, and it turns out those failures have had a lasting impact.
In a report published by The Washington Post, the ESA has confirmed that it is permanently closing down the E3 event, which means it is no longer planning E3 shows for the coming years.
“After more than two decades of hosting an event that has served as a central showcase for the U.S. and global video game industry, the Entertainment Software Association has decided to bring E3 to a close,” said Stanley Pierre-Louis, the ESA’s president and CEO.
Pierre-Louis added that new methods for companies to reach their audiences – i.e. through direct, pre-recorded presentations or livestreams – has contributed to the diminishing importance and necessity of E3 as an event.
“We know the entire industry, players and creators alike have a lot of passion for E3,” he said. “We share that passion. We know it’s difficult to say goodbye to such a beloved event, but it’s the right thing to do given the new opportunities our industry has to reach fans and partners.”
He added: “Companies now have access to consumers and to business relations through a variety of means, including their own individual showcases.”
He went on to add that though E3’s popularity has steadily declined in recent years, its absence has benefited the industry in other ways.
“Any one of these major companies can create an individual showcase, [and] also partner with other industry events to showcase the breadth of games,” he said. “That’s exciting for our industry, and it means it’s an opportunity for them to explore how to engage new audiences in different ways.”
E3 2018 was the last time we got a full-fledged E3 event, with all major players being present. In E3 2019 (and beyond), Sony did not attend, while subsequent years intermittently saw the likes of EA and Nintendo sitting out as well.
E3 2020 was, of course, cancelled altogether due to the COVID-19 pandemic, and though the show did return in 2021 as a remote event, it was met with lukewarm reception at best. The last couple of years have seen the ESA trying to reinvent the event in an attempt to inject it with new life, but E3 2022 and E3 2023 were both cancelled as well. Earlier this year, it was alleged that E3 2024 and 2025 had also been cancelled.
Recent years have also seen companies hosting their own events and showcases, further reducing the need for E3’s existence. Nintendo has, of course, been doing that for over a decade, but in recent years, it has also been joined by the likes of Sony, Microsoft, EA, Capcom, and many others.
Of course, the emergence of events like Summer Game Fest and The Game Awards – both of which were created and are hosted and produced by Geoff Keighley, who was a permanent fixture at E3 events until 2019 – has also contributed to the once-dazzling showcase’s stock plummeting.


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Verid, the provider of identity verification and Knowledge Based Authentication, has announced version 5.7, a major release of its KBA service with numerous new capabilities and enhancements to improve security, speed, accuracy and convenience during the consumer authentication process.
“We continue to lead in the innovation of technologies and processes to help businesses authenticate new customers where no prior relationship existed,” said Kevin Watson, CEO of Verid. “Our clients are continually expanding the use of our service within their enterprise and are layering KBA with other authentication methodologies. This latest release furthers our ability to quickly and accurately establish or re-establish identity in a consumer friendly and secure manner throughout the enterprise.”
Version 5.7 introduces a variety of new capabilities including sequential questioning, an innovative new technique that intelligently guides the consumer through a question and answer process during authentication. “Our new sequential process and updated scoring algorithms are a departure from traditional KBA question and answer methods. From a security perspective, we believe our new process is a dramatic improvement and will be the method of choice for our online customers,” said Watson. “From a market leadership perspective, the 5.7 release once again sets the standard in KBA technology just as competing services are announcing features that Verid delivered in 2003.”
Verid´s clients, which include top financial institutions, wireless telecom providers, leading payment processors and retailers, previewed the 5.7 release at the company´s user conference in March. “Our clients shared significant insight into their overall authentication strategies and best practices of implementing KBA,” said Watson. “We had the opportunity to present our product roadmap and demonstrate the first implementation of our adaptive behavior which is included in 5.7 but will become more prevalent with our 6.0 release in the third quarter. We received such a positive reaction from this forum that we have decided to expand the event in 2007.”


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There needs to be "deeper engagement" between employers and the education system in order to produce a "talent pipeline" that can sustain a thriving UK economy, according to the latest report from The IET.
“Narrow-minded, blame-driven politics” should be set aside in favour of an economic vision that prioritises growth and digital competency in a post-Brexit world, according to a newly published manifesto from Make UK.
Brexit anxiety is forcing the manufacturing sector to stockpile cash allowances to record levels, while industry investment plummets to a four-year low under similar strains – according to a leading accountancy firm.
Fresh ideas in manufacturing is what keeps this industry vibrant and moving towards the future – and at ‘Innovation Alley’ at the Smart Factory Expo in Liverpool, there’s no shortage of new and exciting businesses trying to stand out from the crowd.
Smart Factory Expo’s ‘Best of British’ exhibition is exactly that - a host of new and well-established UK firms showcasing a range of industry disciplines that The Manufacturer deems the cream of the crop.
A team of apprentices from the Advanced Manufacturing Training Centre has won this year’s Home Automation Challenge with their automated watering device, an innovation that’s set to make the lives of plant lovers easier.
From vehicles and consumer electronics, to healthcare devices and energy generation, every aspect of our lives has become increasingly dependent on batteries. As such, the commercial opportunities around innovative new energy storage technologies has become a strategic focus – not to mention a significant new revenue driver – for individual businesses, research institutions and entire nations.


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Pezzettino Italian Deli & Market (2101 Broadway) opens Wednesday. The new eatery will have a market attached with prepared goods (house tapenades, sauce and pesto) and sundries, as well as bread from Sasha’s Baking Company and gelato from Paciugo.
The owners of Pezzettino are Chris and Annie Spohn — the granddaughter of Vincenzo and Antonina Sola, the longtime proprietors of Sola’s in Columbus Park. They’ve hired executive chef Tomas Digregorio to design a menu of Italian sandwiches, pastas and salads. Pezzettino will also have a happy hour called ‘Aperitivo,’ from 4 to 7:30 p.m. Monday through Friday and 11 a.m. to 4 p.m. Saturday with wine pairings, bruschetta, and cheese and meat plates. They’ll serve beer and wine alongside a seasonal cocktail menu: updated takes on classic Italian cocktails like the negroni and bellini.
Pezzettino will be open from 11 a.m. to 7:30 p.m. Monday through Friday and 11 a.m. to 4 p.m. Saturday. The phone number is 816-612-8333.


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Nissan Adds Off-Road Looks To The Pathfinder with the Rock Creek Edition Package
The current-generation Nissan Pathfinder is six years old, but without an all-new model on the way, Nissan has taken to rolling out special edition packages to keep its SUV as fresh as a daisy. The new package, called the Rock Creek Edition, provides an off-road look to the to three-row crossover to go along with a handful of useful equipment that you can use in the outdoors. The Nissan Pathfinder will be on display at the 2019 Chicago Auto Show. Available to the mid-tier SV and SL trims of the Pathfinder, pricing for the special edition SUV starts at $35,265 for the SL trim and $38,915 for the higher-spec SL trim. The Rock Creek Package itself costs just $995.
Will Futuristic Nissan IMs EC Sport Sedan Concept Save Sedans??
At the dawn of the 2019 Detroit Auto Show, Nissan has taken the covers off the interesting IMs EC Sport Sedan Concept. It is an electric autonomous car of the future that seemingly looks to try and save sedans. The premise is,... newish. Nissan envisioned the raised up electric sedan with a really interesting interior layout, an all-wheel-drive system, and autonomous gear. If I go back to 2017, I can find the Volvo S60 Cross Country. See, the S60, not the V60 Cross Country. The S60 Cross Country sedan was on sale for some time. It was basically a raised up sedan, with soft off-road gear inherited from its wagon brother. So, now Nissan did the same, only with a twist. A hell of a twist might I add.
What is Nissan Trying to Tease in this Weird Video for the Detroit Auto Show?
The 2019 Detroit Auto Show, the final show to be held in January before the NAIAS moves to warmer months, is shaping up to be rather thin in comparison to years before. I just recently looked up the floor plan for the Cobo Center this year, and it appears as if the auto show will only consume three halls instead of all four as it has done in recent years. We’re missing a number of big attendees including makes like Porsche, Mercedes, and BMW, among others. Even the number of booths dedicated to aftermarket parts and suppliers has dropped considerably.
Be that as it may, there’s still going to be some pretty interesting stuff going on at this year’s show. I’m talking about more than just the Kia Telluride Torque Track. I’m talking about debuts of the 2020 Ford Shelby GT500 and the 2020 Toyota Supra. Those are the two big headliners, however, there are a few other concepts coming, and one of the most mysterious is a Nissan concept that was recently teased.
In the video below, you’ll see a weird animation put together by Nissan. We suspect that it’s a hint at the production process, which could be, among other things, comprised of 3D printing. We know it’s a "future mobility" type of concept so it’ll probably be something a little off the wall, anyway. Well, why don’t you go ahead and watch the video for yourself and let us know what you think.
The 2019 Nissan Leaf e+ is Here to Fix the Wrongs of all Leafs that Came Before It
The Nissan Leaf set quite a few benchmarks since its introduction in 2010, but its poor mileage prevented it from becoming a really big hit. The second-gen model arrived with notably more miles per charge, but the Leaf remained inferior to most of its rivals. Come 2019, and the Leaf e+ broke cover at the Consumer Electronics Show with a bigger battery and improved range.
Nissan Tracks the Juke Again and This Time it Did it Right!
The Tokyo Auto Salon is one of the most unusual auto shows on the calendar year. Among other things, TAS plays host to a number of oddball creations from some of the most established automakers in the world. This year is no different. Nissan, in all its respected glory, is bringing the Juke Personalization Adventure Concept to the Tokyo Auto Salon. That doesn’t necessarily raise any alarms except for the fact that the Juke Personalization Adventure Concept is a muscled-up crossover wearing tracks instead of wheels. It’s not the kind of Nissan Juke you see every day, but it’s probably one you’ll need if you find yourself in a pickle when you’re outdoors in the winter.
2019 Nissan Maxima
Nissan’s participation at the 2018 Los Angeles Auto Show included the introduction of the 2019 Nissan Maxima. An updated version of the eighth-generation A36 Maxima in L.A. for the 2019 model year with a subtle exterior refresh to go along with a suite of new safety technologies. Nissan hopes that the updates are enough to stem the tide of declining sales that has plagued not only the Maxima but the entire sedan market in the U.S. As Nissan’s longest-running nameplate — the Maxima has been around since 1981 — there’s a lot of pressure on the 2019 Maxima to live up to, or even exceed, the expectations that Nissan has for it. The 2019 model goes on sale in mid-December.
2019 Nissan Maxima Has a Cleaner Look But Lacks any Performance Upgrades
The 2019 Nissan Maxima has made its official debut at the Los Angeles Auto Show. It looks much better than the outgoing model, comes with added safety features, but does not get any sort of performance upgrades. Sure; it may be powerful enough, but did Nissan miss out on an opportunity to stand out from the competition?
Nissan Gives the 2019 Nissan Murano a Wider Grille; Calls it a New Car
Nissan brought a refreshed 2019 Murano to the 2018 Los Angeles Auto Show. While the company dared to call it new, I can only say that the Murano received some superficial changes to get in line with the latest Nissan design philosophy. Despite its exterior looks, the 2019 Nissan Murano will fulfil its task of being an awesome family hauler masterfully.
If you can recall, Nissan actually showcased a refreshed version only last year. True, changes included only modifications to the inside at the time. For this new 2019 Nissan Murano, changes are kept on the outside.
2018 Nissan Frontier Sentinel Concept
The São Paulo Motor Show in Brazil is always a good place to find interesting models that don’t usually make their way to the U.S. Nissan is known for having a big presence in the event, and this year’s no different. The Japanese automaker brought the Frontier Sentinel Concept — we call it the Navarra here — to The Land of Drizzle. The Frontier Sentinel is a rescue concept truck is described as “sturdy enough to go on missions in the most extreme and remote areas.” In other words, it would make for a sweet ride in the U.S., provided Nissan makes it production-ready in the first place.
2018 Nissan Project Clubsport 23
The 2018 SEMA show is here, and Nissan is headed to Vegas with a newly tuned iteration of its aging 370Z sport compact coupe. This latest build combines a selection of parts plucked from the factory, and the aftermarket, as well as a smattering of custom one-off, fabricated pieces that “may appear someday alone or packaged together at Nissan dealership parts departments.” Sounds great, but how does it fare amongst the best of the best in the desert?
2018 Nissan Kicks Sound Machine
The Nissan Kicks will be in attendance at the 2018 SEMA Auto Show, except that it’s not actually the Kicks in the traditional sense. The SEMA-bound Kicks also goes by the name “Sound Machine” for reasons that are pretty obvious if you’ve seen what it looks like. The Kicks Sound Machine is a DJ booth on four wheels that Nissan created with the help of Hollywood-based Vehicle Effects. The vehicle made its debut at the 2018 BET Awards back in July, but those attending SEMA will get to see it for the first time, including the bazillion speakers it has at its disposal.
Nissan Teases the Refreshed 2019 Nissan Maxima; Will Debut at the Los Angeles Auto Show
The 2018 Los Angeles Auto Show is just a little over a month away now, and the early debuts are already starting to trickle in. One of the first out the gates comes from Nissan, which just debuted its latest Maxima four-door. Details on the updated flagship sedan are still forthcoming, but that doesn’t mean we can’t speculate a little bit…


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We’ve been hearing for months now that Fitbit is prepping a new smartwatch, and now new images of the still unannounced device have leaked.
This new Fitbit smartwatch looks like an updated version of the Fitbit Blaze that was released in 2016. It’s got a square display and expected to be offered in three colors: silver case with navy strap, rose gold case with blue strap, and darker case with black strap.
In terms of features, Wareable notes that this Fitbit’s heart rate sensor has two red lights rather than green lights like most other heart rate sensors, as well as a blue optical. It’s said that this could indicate that the new Fitbit smartwatch could be using red light tech for a more accurate heart rate reading while the blue light could be used to measure blood oxygen levels.
Also said to be included with this Fitbit smartwatch is GPS and water resistance up to 50 meters.
When asked about these leaked images, Fitbit confirmed that it’s developing a smartwatch that’ll be available for the holiday season, but didn’t spill any other details.
Fitbit is one of the better known companies in the wearables space, which still doesn’t seem to have gained a great amount of consumer traction. This upcoming device isn’t the most attractive smartwatch we’ve ever seen, but the fact that it comes from a name like Fitbit could help its sales.
What do you think of this upcoming Fitbit smartwatch?


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Mercedes to build an electric vehicle battery plant in PolandJanuary 23, 2019
The German automaker Mercedes-Benz intends to build a battery manufacturing plant in Poland. This will be the ninth plant of the company. Production will be located in the city of Javor in the southwest.
In addition to batteries for electrified and all-electric cars, the plant will assemble four-cylinder engines for hybrid and conventional versions of Mercedes-Benz vehicles.
More than 1000 employees will work at the production, the construction of which has already begun.
It is expected that the production of engines in Yavor will begin this year, and the first production batteries will be released in early 2020. Parts produced at the factory will be delivered to Mercedes-Benz enterprises in Europe and around the world.
Recall, Mercedes-Benz plans to electrify its entire model range in 2022. According to a member of the board of directors of Mercedes-Benz Cars, Marcus Schaefer, own production of batteries at the new plant will be “an important success factor in the era of electric mobility.”
- Searches carried out at Continental’s German offices
- FCA may resurrect a long-forgotten model name
- GM threatens release of Nikola Badger electric pickup truck
- Red Bull will independently produce motors until 2026
- Subaru Forester Sport gets a new turbocharged engine


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New car sales suffered another year-on-year decline, according to new figures.
The Society of Motor Manufacturers and Traders (SMMT) reported there was a relatively modest 3.0% decline in November in both the private and fleet sectors.
However, this was the third successive monthly decline in car sales, including new sales plunging 20.5% year-on-year in September when number plates changed.
EY ITEM Club said new car sales had approached stabilisation after September’s sharp drop, but the fact that there has not been any rebound from September’s slump is disappointing.
New car sales continue to be impacted by new car availability with manufacturers struggling to deal with the implementation of the new WLTP (Worldwide Harmonised Light Vehicle Test Procedure). The European Union has developed the new WLTP, which the EU automobile industry has welcomed, as a response to the Volkswagen emissions scandal which tainted environmental vehicle testing.
WLTP driving cycle is divided into four parts with different average speeds: low, medium, high and extra high. Each part contains a variety of driving phases, stops, acceleration and braking phases.
For a certain car type, each powertrain configuration is tested with WLTP for the car’s lightest (most economical) and heaviest (least economical) version. WLTP was developed with the aim of being used as a global test cycle across different world regions, so pollutant and CO2 emissions as well as fuel consumption values would be comparable worldwide. However, while the WLTP has a common global ‘core’, the European Union and other regions will apply the test in different ways depending on their road traffic laws and needs.
The overall decline in sales in November was limited by sales of alternative-fuelled vehicles jumping 24.6% year-on-year. In contrast, sales of diesel cars (down 16.7% year-on-year in November) have been impacted by environmental concerns and uncertainty over government action to counter this.
On the private car sales front, the automotive sector may take some comfort from improving real earnings growth. Regular annual earnings growth climbed to 3.2% in the three months to September, the best for a decade. Total earnings growth was 3.0% in the three months to September. Meanwhile, inflation fell back to 2.4% in both October and September after spiking to a six-month high of 2.7% in August.
Nevertheless, a number of factors may limit private car sales. Despite the recent improvement, consumer purchasing power is still relatively limited compared to past norms while confidence is currently fragile with particular caution over making major purchases. Meanwhile, with the savings ratio being very low, consumers may be keen to avoid further dissaving. The August rise in interest rates may have reinforced consumer caution, while lenders also have cut back on the availability of unsecured consumer credit.
Howard Archer, chief economic advisor to the EY ITEM Club, said: “The Society of Motor Manufacturers and Traders (SMMT) reported that new UK car registrations fell 3.0% year-on-year in November to 158,639 units. This followed sales dipping a similar 2.9% year-on-year in October and plunging 20.5% year-on-year in the crucial month of September (when number plates change).
“Car sales had already been down year-on-year even before the losses since September. Consequently, new car sales were down 6.9% year-on-year over the first 11 months of 2018 at 2,223,058 units.”
Private car sales fell at sharper rate in November. “Private new car sales fell 6.4% year-on-year in November to 69,335 units. This followed a decline of 1.0% in October and a sharp drop of 20.1% in September.
“Private new car sales were down 6.5% year-on-year over the first 11 months of 2018 at 997,633 units, indicating that consumers have been cautious over making major purchases as the extended squeeze on their purchasing power only gradually eases.”
“New sales to the fleet sector dipped 0.7% year-on-year in November to 84,431 units. This followed a drop of 5.2% in October and a substantial decline of 22.4% in September.
“Fleet sales were down 7.3% year-on-year over the first 11 months of 2018 at 1,138,976 units. Even allowing for uncertainty over government policy on diesel cars affecting fleet sales, it appears that that some businesses have been reluctant to replace or add to their fleets amid a cloudy economic outlook fuelled by Brexit uncertainties.
“Finally, new car sales to the business sector actually rose 8.6% year-on-year in November; however this sector is now very small with sales at just 4,853 units in November.”


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Digital TV News: Tencent
Global SVOD subscriptions to reach 1.6 billion in 2026
Sep 30, 2021 – According to Digital TV Research, global SVOD subscriptions will increase by 491 million between 2021 and 2026 to reach 1.64 billion. China and the US will then together account for 49% of the total.
News categories: Digital TV Research, Simon Murray, Digital TV, Market Research, Streaming, Worldwide
Nearly 700 million SVOD subscribers for Asia Pacific in 2026
Sep 9, 2021 – According to Digital TV Research, the Asia Pacific region will have 698 million SVOD subscriptions by 2026, up from 502 million at end-2021. China will be providing 354 million of the subscriptions in 2026.
News categories: Digital TV Research, Simon Murray, Asia, Digital TV, Market Research, Streaming, Subscribers
Premium video captures 10% of video streaming minutes in SE Asia
May 18, 2021 – Premium video platforms, led by Netflix, Viu, WeTV, iQIYI and Vidio, captured 10% of total video streaming minutes in Q1 2021, according to a study published by Media Partners Asia (MPA).
News categories: Media Partners Asia, Analyst Dhivya T, Asia, Digital TV, Market Research, Streaming
Asia Pacific online video to reach $55 billion by 2025
Jan 11, 2021 – Media Partners Asia (MPA) has reported that the Asia Pacific online video industry grew revenue by 14% Y/Y in 2020 to reach US$30.5 billion. SVOD overtook AVOD to contribute 53% of total revenues; AVOD contributed 47%.
News categories: Media Partners Asia, Vivek Couto, Asia, Digital TV, Market Research, Streaming
Google's share of global digital media revenues declined in Q2
Oct 29, 2020 – According to Strategy Analytics, while it's still the world's largest digital media company by some distance, Google’s digital media revenues fell by 7.0% in Q2 2020 to $38.3B, causing its market share to fall from 29.0% in Q1 2020 to 26.3% in Q2.
News categories: Strategy Analytics, Michael Goodman, Digital TV, Market Research, Streaming, Worldwide
COVID-19 boosts mobile content spend 28% in 2020
Oct 6, 2020 – COVID-19 will boost worldwide revenue on content consumed on mobile phones by 28% in 2020 according to Strategy Analytics. Over the next five years mobile media revenue is expected to approach $860 billion.
News categories: Strategy Analytics, David Kerr, Nitesh Patel, Content Distribution, COVID-19, Digital TV, Market Research, Mobile, Worldwide
Strong 1H 2020 for Online Video in Southeast Asia
Sep 29, 2020 – Total video streaming minutes on mobile grew 30% Q/Q in Q1 2020 across four Southeast Asia markets and a further 19% Q/Q in Q2 to reach 657 billion, according to a study published by Media Partners Asia (MPA).
News categories: Media Partners Asia, Vivek Couto, Asia, Digital TV, Market Research, Streaming, Subscribers
Chinese streaming platforms taking over SE Asian markets
Aug 25, 2020 – The Southeast Asian streaming industry has seen considerable changes this last year as Chinese streaming services have been taking over a large part of viewers and investing in local content, according to Dataxis.
News categories: Dataxis, Cambodia, Digital TV, Indonesia, Malaysia, Market Research, Myanmar, Philippines, Singapore, Streaming, Thailand, Vietnam
AOMedia working group formed to promote AV1
Aug 20, 2020 – The Alliance for Open Media (AOMedia) has announced the formation of the AOMedia Software Implementation Working Group (SIWG), a member-driven initiative to aid the development of AOMedia AV1 products and services.
News categories: AOMedia, Ioannis Katsavounidis, Xiang Li, Hassene Tmar, Content Distribution, Digital TV, Media Player, Worldwide
- Wurl offers global FAST channel distribution for content companies
- Accedo and Nreal bring streaming to lightweight AR glasses
- HBO up 1.9 million; Vrio down 178,000 video subs in 3Q 2021
- RTL Group and Amobee to form TechAlliance addressable TV JV
- Claro Box TV streaming in Colombia powered by Harmonic
- Verizon FIOS consumer video subscribers down 68,000 in 3Q 2021
- Vodafone España provides real-time accurate EPG with Alpha Networks and MediaData TV
- Vewd and Mediatek bring entertainment to vehicle rear-seats
- Conviva expands into advertising audience measurement
- C Spire to acquire Troy Cablevision
- Software Freedom Conservancy sues Vizio for GPL violations
- Altibox Android TV service goes live with 3SS and Technicolor
- Sunrise UPC launches yallo TV in Switzerland
- ATEME embeds Viaccess-Orca contribution watermarking
- Deloitte releases results of Digital Media Trends Fall Pulse survey
- RFE receives Android TV Operator Tier certification for IPTV STB
- Disney+ coming to Hisense and Toshiba TVs with VIDAA Smart OS
- Tremor International acquires Spearad
- TekSavvy TV footprint expands across Canada
- Airtel launches Video Platform as a Service product