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Status update: Facebook posts loss in the third quarter
After signing up its billonth user this month, Facebook increases revenues by 32% but still reports a $59m (£37m) loss for Q3.
Well, Zuckerberg must be doing something right. Revenues at the world’s largest social network have topped $1.26bn for the three months from July to September, up nearly a third on the previous quarter. And most of that sales growth has come from the tricky mobile business. Mobile ad revenues hit $150m over the period, up from an around $45m in the second quarter and next to nothing in the first. About 604 million of its 1.01 billion users now access Facebook on a mobile device. By George, he’s got it.
However, Big Blue still isn’t making any money. While Facebook has slashed its losses to a fraction of the $157m it haemorrhaged in Q2, the $59m loss must still smart. If Facebook is to recover its market value, which has halved since the IPO, it needs to show bullish profit growth sharpish.
Zuckerberg seems to think that he can still turn things around. ‘People who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform,’ he says. Indeed, advertising revenues are up 36% compared to last year.
But the problem with driving up advertising income very quickly is that Facebook risks alienating its user base. As social media expert Caroline Baxter points out: ‘A seventh of the world's population is a lot of people to get on the wrong side of. All kinds of tweaks and changes have been made at Facebook over the past few months, and they've all been focused, unsurprisingly, on ramping up ad revenues. People have been talking about Facebook glitches and shorter fan reach but in reality, they're not glitches at all, just the social network making algorithm changes to turn a profit and appease shareholders.’
Of course, with a billion users, you can afford to annoy a few people. And Zuckerberg isn’t putting all his eggs in the advertising basket: Facebook Gifts could be a big winner for the social giant, Facebook Exchange is set to steal a wedge of market share from Skype and there are even rumours of a Facebook search engine. But it’s clear that Zuckerberg is trying to walk the fine line between alienating Facebook fans and its investors. And that’s a very thin blue line indeed...
This article was first published on managementtoday.co.uk
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14/06/2018 – H. Stoll at the ITM, Istanbul
For many companies in the knitting industry, Turkey and its surroundings are one of the most important strategic regions in the world.
From 14th until 17th of April 2018 the International Textile Machinery exhibition ITM took place for the 34th time in Turkey.
Stoll has been participating in ITM for many years and it is the best platform in Turkey to show new technologies to existing and potential new customers. The booth was very well received by the visitors and everybody marveled the joint booth from Stoll, Mayer Mümessillik and Mayer & Cie. "Stoll is always a highlight", has been the tenor of the visitors. Together with the agency Mayer Mümessillik Stoll exhibited the latest technologies.
During the 4 days of the exhibition the booth was always very well visited and customers from Turkey, Russia, Kyrgyzstan, Uzbekistan, Iran, Saudi Arabia and Africa found their way to us.
Stoll presented a large variety of the flat knitting technologies
For example the well-known ADF machines with all kind of plating possibilities combined with intarsia and weave-in technology, as well as other flat knitting machines offering many different fields of application and also a machine knitting medical textiles. Another highlight was the CMS 502 HP+ which was knitting a traditional kelim-design. The famous subject of knitting shoe uppers is now becoming a more and more important field of application in Turkey.
Stoll had several shoe uppers on display which found great interest for our customers and hope that Turkey will get its well-deserved share in this market soon.
2018 looks to become one of the most successful years for Stoll in this market.

domain: news


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Riedel Communications has acquired Düsseldorf-based mobile streaming company Code One. The developer of solutions for video streaming over wide area networks, will bring Riedel a range of WAN-focused solutions as well as technology for distributing video, audio and data via mobile networks.
“In order to guarantee further expansion of our company, we needed a partner with the capacity to support our portfolio in a competent and future-proofed manner,” said Code One CEO Sven Hanten. “Riedel Communications is an experienced company that offers a positive business environment, including a firmly established presence in key markets and a strong financial position, that will fuel our ongoing and future development of innovative solutions.”
The company’s video streaming technology aims to assist broadcasters and other content producers to achieve greater mobility in live production environments. Its application-oriented products allow users to distribute live content anywhere, at any time.
“Code One complements our portfolio perfectly,” commented Thomas Riedel, CEO of Riedel Communications. “This young company’s key areas of expertise, such as mobile streaming and innovative solutions for data transmission, offer Riedel unique technology that we can use to elevate our solutions to a new level.”


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WASHINGTON — Political rallies here almost always feature signs, speeches and chants. There are often heated arguments between the camps. Sometimes there are songs, sometimes there are prayers.
And in the heat of a Washington summer, there’s almost always the upbeat, repetitive chime of an ice cream truck.
Whether it’s someone selling bottles of ice-cold water from a cooler in the summer or selling hats and t-shirts in the winter, when political movements come to Washington, they are invariably followed by a local army of vendors who take advantage of the protesters’ needs. for food, water and souvenirs.
Joseph Pileri, chief legal officer of Mission Driven Finance, said that like “the iconic hot dog stands in New York…or the halal carts or taco trucks in Los Angeles,” Washington has street vendors for the crowds. policies and for tourists in general.
“DC is unique, isn’t it? It is the center of so many protests and rallies,” Pileri said. “DC has a very long history of people taking advantage of large gatherings in places like Black Lives Matters Plaza and on the mall in order to both make money off the presence of all these people but (also) to be able to support … whatever the cause they happen to have been in town ever since.
And there was plenty to be in town in 2022.
Along with the fact that the easing of COVID-19 restrictions meant a return to the regular tourist trade, this year has seen marchers protesting federal COVID-19 vaccination mandates and nurses demanding better working conditions. There was another March for Our Lives to protest another mass shooting, and both sides took to the streets as the Supreme Court considered a case that would lead it to strike down abortion rights.
Phoenix resident Eman Massoud was in Washington this summer for days of marching, protesting and lobbying for gun control measures through Congress. One morning in June, she stood on a patch of grass in the shadow of the Capitol, listening with hundreds of other activists to House Speaker Nancy Pelosi — as an ice cream truck traded nearby .
“I lobbied in Arizona, I was in front of the State Capitol. I marched there,” said Massoud, who was in Washington for the first time. “But I feel like it’s completely different. The environment is so inspiring.
Inspirational, but Washington’s weather can also be overwhelming, as Massoud learned.
“Have good shoes. Because we walk around DC exploring after our rallies,” she said. “So yes, shoes, sunscreen and hydration.”
All of this is readily available from street vendors, who may have a truck, cart, table – or may just work with a backpack or cooler as they follow the crowds.
“They are shrewd businessmen who are nimble enough to take advantage of opportunity,” said Pileri, who has written several academic papers exploring the economics and history of street vending. “But they also help support people’s ability to come out and protest by providing things like food and water on hot days.”
According to district government data, there are 442 approved street outlets spread across the city, but almost half are within a block of the National Mall and the White House, the scene of most demonstrations and rallies.
Shawn Bartuti has been a street vendor in DC for 25 years, including the last three at the intersection of New York Avenue and 15th Street NW – right next to the White House.
“Sometimes it’s really good, though, when marches and things of that nature happen,” Bartuti said. “It’s okay, man.”
Bartuti responds to the political whims of tourists: his cart features Donald Trump flags and MAGA hats. Bartuti is a Republican, but that’s not the main reason his merchandise is heavy on the former president, but only includes a few items with Vice President Kamala Harris.
“It’s a business, to begin with. And two, no one is buying (President Joe) Biden,” Bartuti said. “Have you been walking around town? Have you seen anyone with a Biden hat? Anyone with a Biden bag? You don’t see anyone.
A 2018 report from the Department of Housing and Urban Development found that the average street trader in a major city can expect nearly $26,000 in annual profits.
“Business is good,” said Allen Reed, who sells bottled water outside the Lincoln Memorial. “College just wasn’t for me. You make money at the end of the day.
In Washington, the city requires permits for street vendors to set up shop. Vendors can apply for a license to operate at any of the 76 licensed stationary vending sites and 14 licensed vending locations in the various national parks.
But Pileri said obtaining a street vending license is “onerous, complicated and costly”.
“The vast majority of people selling on the street in DC don’t have a license,” he said. “And as a result, people face police altercations – running from the police or being cited from time to time and having to pay tickets to avoid going to court. And it’s sort of built into the costs of their business.
The cost of obtaining a two-year vendor license ranges from $337 to $447, depending on the district’s sales manual, and that’s in addition to the site license which costs $600 per year.
But those costs haven’t stopped Reed, who is fired. It recently added a second cooler and its first employee and its prices are unregulated – the hotter it gets, the higher its “peak prices” rise.
Lydia DeTello and a group of Baltimore friends stood outside the White House one Sunday in July, carrying signs supporting abortion rights. As residents of a nearby town, they are regular DC protesters who this time brought their own water. But DeTello said she appreciated the presence of a street vendor selling bottled water in Lafayette Square.
“It’s nice to know that DC people are out there and available, just selling bottled water,” she said. “It could be useful because it is hot, it is July. Every little thing, including hydration, supports movement.
Pileri said the vendors had another goal besides fueling the protests.
“They are important members of the community, they watch the streets,” he said. “They know what’s going on, they’re often the first to see problems happening on the streets to respond to problems happening on the streets. And they really contribute to a sense of vibrancy and liveliness in urban neighborhoods.
But for salespeople, it’s not the cause they support that’s the money it makes. It’s not uncommon to see a seller selling goods in favor of an issue one day and opposing it the next.
While business is good, Bartuti said his merchandise got him in hot water with a few tourists with differing viewpoints. He recalled that when Trump was in office, “they still had a dude in front of the park, just all day, just ‘f Trump’. All the time.”
But for him, it’s part of the business. And part of America.
“I mean, this is America,” he said. “Everyone should be able to have their freedom of expression, believe in any political opponent they want to believe in.”


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What Cathie did when Tesla stalled; What Elon did when Twitter called (his bluff)
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It was all about Elon overnight as the takeover target he stars on – Twitter – led some huge gains on the tech heavy Nasdaq, while earlier in the session his No. 1 cheerleader – tech-investing royalty Cathie Wood – came very, very good on a promise to back Tesla very, very hard.
First up – Cathie Wood’s flagship ARK Innovation exchange-traded fund (ETFARKK) snapped up a small fortune in Tesla stock, (as promised) for her ARK Autonomous Technology & Robotics ETF.
Wood went on for well over 108K of Tesla shares at circa US$242 worth around $30 million.
Wood’s aggressive play comes a few weeks after the Ark founding tech-investor leapt into Wall Street’s September sea-of-volatility to take a string of bold stakes in other tumbling major tech names on the cheap, following the Nasdaq’s most recent market losses
A big believer in Muskism, Ark runs eight ETFs all up, every one of them focused on different variations of the same tech theme – from robotics to space exploration – holding a grand total of 34 different stocks.
Until crashing some 60% in the joy that is 2022, Wood’s ARKK could lay claim to a pretty outrageous 45% annual return over the past five years.
Wood’s show of confidence came a few Wall Street moments before the billionaire / mad professor apparently switched positions again about buying Twitter, sending a missive to the social media platform seemingly agreeing to go ahead with his original offer.
Word of the apparent latest turnaround sent Twitter soaring more than 20% – although notably still lower than Musk’s takeover price – which is a likely reflection of the markets confidence that Elon is as good as his 156 characters.
In a letter to Twitter (market eyebrows surely rise when the prolific tweeter writes letters to Twitter) Elon seems to say he’ll stump up pay what he offered back in April, the $44 billion of a lifetime ago, just before the sharp June descent of Twitter and other tech stocks (like Tesla), crashed, leaving the billionaire back-peddling out of the deal.
When Elon balked, an acrimonious relationship with Twitter execs turned legal, Musk declaring that the number of fake accounts on the platform was way, way higher than Twitter was suggesting.
The epic blue is due to go to trial in a few weeks, on 17 October, with opposing tech forces descending into a kindy-fight of public insults and bitter recriminations (largely on Twitter OFC, where Elon leads a fans base of some 100 million followers.
In a sample of the Trumpian exchanges, Elon tweeted the Twitter boss Parag Agrawal with this classy poo emoji:
Elon’s worth about $220 million depending on the way the wind is blowing on Wall Street, and he coulda paid a $1bn break-up fee to walk away. He’s set to be interviewed ahead of the trial this week.
US media reports a Twitter spokesperson acknowledged Musk’s latest proposal, before re-stating, “the intention of the company is to close the transaction at $54.20 per share.”
That perhaps reflects the lack of trust in Musk’s word, or whether the billionaire is taking another leaf from the Trumpian playbook of delay and obfuscation.
Meanwhile, Tesla shares continued their own descent – falling almost 9% in the EV maker’s worst session since the June crash after Q3 production – and delivery numbers fell short of analyst expectations over the weekend. Tesla stock has lost a full third of its value this year.
Ignoring the hullaballoo around Twitter, Wood made her move adding to a holding in Tesla which is by far the biggest stake in the Ark flagship fund, now accounting for nearly 10% of the ETF.
Wood says Tesla stock will hit $4,600 by 2026.
Wood said last week that her confidence in Tesla couldn’t be higher as the movement towards electric vehicles accelerates. The innovation investor previously trimmed her Tesla holding to raise cash in order to buy other names.
Wood’s other notable purchases this week include the open gaming platform Roblox, software maker UiPath and space-tech aspirant Rocket Lab.


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Morning Cheat Sheet: Meryl Streep's New Film, Margiela's Hot Head Designer and Kate Moss' 13-Year-Old Sister is Being Scouted by Model Agents
July 08 2011 5:30 AM EST
August 02 2017 4:21 AM EST
Meryl Streepreleases her spooky, scary "I want an Academy Award" eyes.
Crabby designer Azzedine Alaiaturned down the Legion d'Honneur....
...while Anna Wintourpicked up hers, from French prez NicholasSarkozy in a sparkly Chanel number.
Is this hottie the head designer of Maison Martin Margiela?
Club Monaco is rebranding turning away from their preppier ways to a more woodsy, outdoorsy, Americana vibe.
Kate Moss' younger sister Lottie, is being scouted by model agents, at age 13, after she appeared in photos as one of the model's bridesmaids.


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1. Most Americans remain confident about the US economy and in their own financial situation, and more now give Trump's policies credit for a strong economy than did so last year.
Seven in 10 Americans say the economy is in good shape, including a quarter who say it is very good.
2. There is partisan division about where the economy goes from here. Thirty-seven percent of Americans think the economy is getting better, including 71% of Republicans, but just 11% of Democrats agree. Overall 52% say their financial condition is better compared to 2016.
3. Looking at their own pocketbooks, most Americans are very or somewhat confident in their own financial situation, but their confidence is related to income. Those earning more express a lot more confidence than those earning less.
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Largest Apple Account Theft Exposes Over 250,000 iOS Devices
Over 250,000 Apple devices have been hacked so far by a recently uncovered malware family designed to target devices running on iOS. Dubbed as "KeyRaider," the malware has been used to compromise Apple accounts associated with the hacked iOS devices.
Discovered last week, KeyRaider, iOS security threat, has now been analyzed by a security research firm Palo Alto Networks in collaboration with WeipTech, a Chinese group responsible for first discovering the malware. This malware is reportedly responsible for one of the largest Apple account theft as analysts have identified a total of 92 samples of this malware family which targets jailbroken iOS devices. As with various other malware attacks in the past targeting the jailbroken iPhones and iPads, this family too has been distributed using Chinese third-party Cydia repositories.
The exploit worms its way to your jailbroken iPhone or iPad through Cydia, after which it not only gets your password but also intercepts the data.
The malware hooks system processes through MobileSubstrate, and steals Apple account usernames, passwords and device GUID by intercepting iTunes traffic on the device. KeyRaider steals Apple push notification service certificates and private keys, steals and shares App Store purchasing information, and disables local and remote unlocking functionalities on iPhones and iPads.
The user is then locked out of their devices, making it the perfect way to extort money, for a user to continue operating their devices. If the user doesn't agree to pay the ransom money, the malware also has the ability to download and buy apps without their permission which means the target can lose a large sum of money from their credit card.
Some victims have reported that their stolen Apple accounts show abnormal app purchasing history and others state that their phones have been held for ransom.
Researchers further explain that the data collected by this malware family is used by two iOS jailbreak tweaks that are designed to allow users to download paid apps from the Apple Store, for free. Claud Xiao of Palo Alto explained that “these two tweaks will hijack app purchase requests, download stolen accounts or purchase receipts from the C2 server, then emulate the iTunes protocol to log into Apple’s server and purchase apps or other items requested by users.”
“The tweaks have been downloaded over 20,000 times, which suggests around 20,000 users are abusing the 225,000 stolen credentials,” explains Xiao. The security team was able to determine the impact of KeyRaider iOS security exploit by using an SQL injection vulnerability in the command and control (C2) server that was used by the malware to upload stolen data. These vulnerabilities in the server itself further expose user information.
KeyRaider has infected iOS devices in a total of 17 countries, including China, U.S., U.K., Canada, Israel, Italy, Singapore, Russia, France, Japan, Australia, South Korea, and Spain - making it one of the largest malware-powered Apple account theft operation "seen to date."
Stay safe folks and stick to trusted repositories as is always advised.


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Toyota introduced a pair of brand-new engines in Japan today, that it says will eventually spawn 14 different variants by 2015. Where these two engines stand out in today's world, is that neither mill boasts direct injection, and both are naturally aspirated.
- Volvo shoots for self-drivers by 2021
- Jeep spends $1 billion on factories
- Find Parts & Accessories for your vehicle!
- Obama rolls out new EV plan
- Infiniti dealers ranked best, Tesla worst
- Compare Volvo XC90 and Lincoln MKX


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The commercial lines portal imarket has failed to attract brokers in the numbers insurers hoped. Is it too cumbersome or does it simply fail to deliver?
Let’s be frank. The insurance industry is never going to win any awards for embracing change. So it is hardly surprising that the trading options created by the IT revolution of the past decade have only really had an impact comparatively recently. Even then, the brave wind of hi-tech change has been largely confined to personal lines business.
But electronic trading’s overwhelming success here made it inevitable that a similar service for commercial lines would have to be created. The obvious benefits – for insurers and brokers, savings in the shape of low costs and increased access to customers and, for them, a faster, more efficient service – made the need for an electronic system a no-brainer.
Major insurers created a commercial lines portal, imarket, run under the aegis of Polaris, the insurance industry’s IT vehicle. But six years from its launch, the free-to-brokers service has failed to attract the numbers that insurers envisaged. Many brokers complain that it is a cumbersome system that only provides access to a small panel of insurers, principally AXA, RSA, Allianz, Groupama, Aviva and Zurich.
Extranet sites give extra
But brokers aren’t the only ones expressing reservations; some insurers are not entirely happy either.
“The reality is that it has not delivered exactly what insurers expected,” says Malcolm Smith, commercial lines director at Groupama, a founding member of imarket.
“There is business being traded but a lot more is being traded direct on insurers’ extranet sites. Software houses are also increasingly building products for electronic trading with brokers and insurers. The hope was that imarket would be the main conduit for electronic trading but, in reality, it is now one of a number of forms of trading and not the biggest.”
Polaris managing director Martin McLachlan concedes that imarket is not where he would like it to be in terms of volume.
“We expected higher numbers by now, say 50% higher,” he says. “But we have noticed an acceleration since last year. There is now a perception among brokers that electronic trading is the way they are going to be trading in future, whereas in 2008 it was seen as interesting but sitting at the side.”
There are 3,100 broking firms registered for imarket which, McLachlan says, handles about 100,000 transactions a month. “Some of those are quotes, some are new business, some are mid-term adjustments, and some are brokers going on to an insurer’s website to find out about a claim,” he says.
But if brokers aren’t using imarket, what are they doing instead? It seems that many prefer to go direct to insurers’ extranet sites – basically closed internet trading sites where brokers sign on direct with an insurer and access its products. This is despite having to visit each insurer’s site and repeatedly key in their client’s information if they want a number of quotes.
The whole point of imarket was to enable brokers to get multiple quotes from a single point, but Smith believes that brokers prefer extranet sites because insurers have more products on them. He adds that Groupama, like many insurers, does more business on its extranet site than on imarket.
At the same time, a number of brokers are also using other multiple distribution software systems, such as Acturis, Broker Direct, Iprism and Towergate’s PowerPlace. These effectively provide the same service as imarket and have arrangements with many of the same major insurers. “Those software houses are progressively building products on brokers’ back-office systems,” Smith says.
But far from supplanting imarket’s role, many of these alternatives are working hand in glove with it. PowerPlace’s chief operating officer Matthew Reed laughs off suggestions that he is poised to usurp imarket. “We’re in negotiations with them to enable imarket users to access PowerPlace,” he says. “Imarket complements us; it provides the glue between brokers and insurer products.”
PowerPlace, which has about 350 brokers on its books – a number it hopes to double this year – is available on Open GI, the software used by almost half of UK brokers. Those without Open GI will be able to access the service via imarket. “Imarket is a messaging tool,” Reed says. “We’re able to satisfy imarket’s user requirement for products and insurers, and it is able to satisfy our insurers by giving us more volume. It’s a symbiotic relationship.”
Acturis volumes grow ‘substantially’
That view is echoed by Acturis chief executive Theo Duchen. “We provide brokers with the opportunity to access insurers’ products through a range of different integration models, including imarket messaging, hosting of the product on Acturis or integrating directly with the insurer’s products on a point-to-point basis. The imarket standards (which define questions and answers) help all this work in a consistent fashion so things all look the same for a user, thus improving usability.”
Acturis operates on a “software as a service” (SaaS) model which means brokers don’t host the software but simply access it online. Duchen says volumes have been growing “substantially month on month. Broadly speaking, electronic trading is up around five-fold since 2007. We have more than £2bn of commercial premiums transacted on Acturis annually.”
Polaris sales and accounts manager Philip Nunn says working with the likes of PowerPlace and Acturis enables imarket to increase the choice for brokers. “Imarket is a technical success but we want higher volume and, when a broker gets into the system, we want to ensure there are an optimum number of products and enough insurers on board to make it worthwhile. So when someone like Towergate comes along with PowerPlace, something that can gee up participation in commercial electronic trading – and wants to do that on an integrated basis through imarket – it’s a bonus,” he says.
But there must be a risk that insurers will prefer to place more products on these other distributors’ sites, or on their own extranets, if volumes on imarket fail to pick up. At worst, there is a danger that the success of the software houses could make imarket redundant.
McLachlan insists that imarket is unique. “If you want a real-time price, imarket is the only platform on the market,” he says.
Smith insists that Groupama remains “firmly committed” to imarket; Reed and Duchen also believe that it will continue to have a pivotal role in the marketplace. Head of SME broker and affinity markets at Allianz – and a Polaris board member – David Martin adds: “We trade a significant volume of business through Acturis, but all that business is only enabled through imarket-compliant standards. It’s important to remember that imarket has not just provided the portal, it is also providing the standards for which we all build against our rating technologies.”
PowerPlace has a broad range of providers, including RSA, Groupama, Fortis and Zurich and, of course, Towergate Underwriting. Acturis’s providers include AXA, RSA and Aviva.
You could be forgiven for thinking that the industry appears to be operating a scatter-gun approach to see which pays off the best.
“At the moment insurers are hedging their bets a bit, waiting to see which horse is going to work,” Reed says. “Do any of us completely know which way electronic trading will go? Not entirely, although obviously I believe PowerPlace is the way ahead. But basically underwriters and insurers are having a look at the moment.”
Some believe that the take-up of imarket has been slow because the complexities of commercial lines makes it ill-suited to the rapid demands of electronic trading.
McLachlan disagrees. “There will be risks that cannot be traded fully electronically, such as pharmaceutical liabilities risk or petrochemical risk, but that’s the bespoke bit of the business. Most people don’t go to Savile Row, they go to Marks & Spencer, and in the Marks & Spencer’s bit the risks that can be automatically underwritten account for the vast majority of market transactions.”
Online sometimes the only way
In fact, Groupama’s Smith says that electronic trading may offer the only way to get some classes of SME cover as competition to drive down prices intensifies. “A lot of tradesman and shop and office products are only available online because it is simply not economic for either us, or a broker, to place smaller policies traditionally, with an underwriter quoting it and processing it. Online trading takes the cost out of transactions so we’re able to deliver highly competitively priced products.”
The bottom line is that electronic trading will become more sophisticated as commercial lines systems evolve and with that, as has happened in personal lines, it will become survival of the fittest. “Electronic trade will provide a proper value,” says Reed. “The access to information is changing things and insurers have to capitalise by getting better – or they will lose out. PowerPlace and others provide a transparent marketplace; there is nowhere to hide. If your product isn’t good enough, if it’s not the right cover or right price, people won’t buy it.”
‘Part of the solution … but not all of it’
But commercial lines still has a long way to go before it can reach the levels of personal lines electronic trading. James Gerry, chief executive of broker JLT’s underwriting subsidiary Thistle, believes imarket must seek to substantially increase the products brokers can access.
“Imarket is part of the solution, but not all of it,” he says. “From a broker’s perspective you have to consider whether you can go to a client and say you did an exhaustive search of the market by just going to imarket? Does the broker feel he has distinguished himself in a busy market by going to one site with products from five or six carriers on it?
“As a general concept it makes sense, but you could argue it’s the usual suspects that have their products on the site – and elsewhere too. Many insurers are not on these sites; all of the Lloyd’s syndicates, for example.
“Imarket is a step in the right direction to single-point access but it’s the beginning of the process.” IT


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New Chester Grocery Watering ‘Food Desert’October 2, 2013
An award-winning story in the spring 2011 Widener Magazine reported the efforts of a Center for Social Work Education program to create maps documenting the lack of food options in Chester — deemed a “food desert” by the USDA — and develop ways to fill those needs.
For a dozen years, residents of the city had been without a grocery store and had few options for fresh and healthy food. That void was filled on Saturday when Philabundance opened the Fare and Square, a nonprofit grocery.
Construction on the store began last year in the vacant section of the building housing Family Dollar on the 3100 block of West 9th Street. As a nonprofit grocery store operated by a food aid group, it is believed to be the first of its kind in the nation.
A second grocery store, this one commercial, is slated to open in Chester in 2014. Bottom Dollar will be located at 15th Street and Edgmont Avenue, near Widener University.
Establishing Fare and Square in Chester was a project set forth by Strong Cities, Strong Communities (SC2), a national initiative created by the Obama administration in July 2011, and supported, in part, by Widener. The initiative’s goal is to aid distressed cities like Chester by “strengthening local capacity and sparking economic growth in local communities.”
“There is no significant quality of life without proper food and nourishment,” said Arto Woodley, one of Chester’s two SC2 fellows who works out of an office in Old Main on the Widener campus. “The market helps elevate the quality of life. It’s a huge win for this region.”


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POS giant Toast has launched a mobile app for restaurant operators—a highly requested tool among users.
The Toast Now app allows operators to run restaurant operations from their phones by gaining visibility into real-time sales, traffic and labor data. The app enables direct communication with on-site staff and the opportunity to control kitchen volume by toggling delivery channels on and off.
“From high inflation to hectic lives, restaurant owners and operators are often managing changing restaurant dynamics on-the-go and we believe that the right technology partner is critical to helping keep restaurants at the top of their game,” said Steve Fredette, president and co-founder of Toast in a statement.
The flexibility to check operations throughout the day has proven beneficial for users so far. According to the company, during the beta phase, those utilizing Toast Now logged into the app three times more frequently than the average rate logged into Toast’s web portal.
Jared Galbut, CEO of the fast-casual brand Bodega Taqueria y Tequila, said the app has made it easier to manage operations across his seven locations.
“We’ve given Toast Now to our whole company, not just operations,” he said in a statement. “Teams including human resources and marketing have found it helpful to analyze sales and labor trends in order to better manage our business, and we all love being able to see real-time data and know how the business is performing as much as we do.”
It’s a first for Toast in offering a management app for operators, now competing with other tech companies that offer insight into real-time business metrics such as Square and SpotOn.
The app is available now for iOS and will be soon for Android devices.
Enhanced POS features
According to a recent Toast survey, two of the most important purchasing considerations for small and medium-sized restaurants in 2024 will be “the depth of features in core POS and the ability to increase guest throughput and turn-time efficiency.”
In response, Toast launched the following POS updates:
- Advanced Table Management: Offers features such as table timers to help with pacing, table turnover and indication into which need attention.
- Server Item Fire: Gives servers more control in making sure the right dish comes out at the right time.
- Open View: Displays menu items and their modifiers on a single screen designed for faster and more accurate order taking.
- Table Screen Enhancements: Updated layout, font sizes and colors on its table screen to help eliminate errors.
The latest POS updates are now available to all Toast customers.


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Shares of Charlotte’s Web Holdings (OTC: CWBHF) were sinking 16.2% lower as of 2:51 p.m. EST on Thursday. The company didn’t announce any news. Instead, the decline appears to be the result of a broader sell-off of cannabis stocks.
If Charlotte’s Web’s business prospects had diminished, today’s fall would be understandable. However, nothing has changed on that front.


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Alaska News Source: Sen. Lisa Murkowski introduces legislation to strengthen seafood industry By
ANCHORAGE, Alaska (KTUU) - The “Farm Bill” is enacted every five years to address a variety of agricultural and food programs. This time around Sen. Lisa Murkowski is introducing legislation that will strengthen a variety of the farm bill provisions to better address needs in Alaska.
Murkowski’s “Improving ARCTIC Act” seeks to improve access to healthy foods for Alaskans, food processing needs for Alaska producers, increase access to affordable housing, improve American forestry and floriculture, and improve tribal self-determination.
One part of the legislation that is starting to get a lot of attention is Murkowski’s attempt to improve the Alaska seafood industry in ways that never existed before.
Part of the legislation aims to address the way seafood is labeled, such as including country of origin labeling for crab to ensure U.S. seafood is the only seafood being labeled as American in addition to creating a Wild USA seafood label.
“We see a lot of times where it is just freshly caught this or that species, but it doesn’t really tell you exactly where,” said Robert Venables, executive director of the Southeast Conference. “I think what Sen. Murkowski’s bill does is really strengthen Alaska’s role in the national and international markets.”
It would also address the way seafood is marketed by requiring that consumers be informed if their seafood has been genetically modified or cultivated.
“You know, Alaska has worldwide competitors on every front, but none of them match the quality of product that Alaska waters produce. And a lot of times a lot of other countries and sources try to pass it off as the real thing and it really isn’t,” Venables said.
The legislation also supports domestic seafood production by establishing a pilot grant program for domestic seafood processing in coastal communities and prohibiting any federal agency from regulating offshore finfish farming.
“It is just further encouraging domestic seafood processing. That is a good thing. We have seen over the last 20-30 years seafood processing go offshore like a lot of manufacturing in the United States,” said Julie Decker, executive director of the Alaska Fisheries Development Foundation.
Lastly, the legislation seeks to put the seafood industry on the same footing as ranching and farming. The Improving ARCTIC Act extends the eligibility to commercial fishermen for USDA programs that provide assistance to farmers and ranchers.
It also expands Farm Credit opportunities to the Alaska fishing industry.
“You know all of our businesses in Alaska struggle with scale. The remoteness of where we are and what we do, and at the scale that we do it at, really puts us at a major disadvantage for competing in this global economy. This bill really helps to erase a lot of those barriers, lower those obstacles that are in the way,” Venables said. “More importantly, I think it makes us more inclusive. It really makes sure that those that may have been disenfranchised — smaller rural communities, Alaska Native communities, and other small businesses — now have much firmer footing to compete on. I think that really allows us to penetrate these global markets in a way that would not have been possible without this.”
The legislation also creates a grant program to promote the reuse, recycling, and sustainable use of marine products from the seafood industry, so marine waste from seafood, and any other seafood byproduct does not have to end up in a landfill or waste disposal facility.
By: Steve Kirch
Source: Alaska News Source


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Auto sales tank in April but Chrysler bucks trend
Ford hit by weak car, pickup sales; Toyota takes rare step back along with other Asian automakers; GM sales slip; Chrysler manages gain.
NEW YORK (CNNMoney.com) -- U.S. sales at most major automakers fell in April, hurt by rising gasoline prices and fewer selling days than the year-earlier period.
While DaimlerChrysler (Charts) bucked the trend of weaker industrywide sales to post a narrow sales gain in the period, the weakness extended all the way through to Asian automakers Toyota Motor (Charts), Honda Motor (Charts), Nissan (Charts), Hyundai and Kia, all of which posted year-over-year decline in sales.
Ford reported that its U.S. sales came to 228,623 vehicles in the month, down from 262,722 in the year-earlier period.
Rising gasoline prices bit into the demand for the pickups and SUVs, hitting the sales of light truck models by 6 percent, while the sale of cars dropped 24 percent. Most of that fall was due to the discontinuation of the Taurus; sales of car models fell a far more modest 8 percent excluding that model.
Sales of Ford's F Series pickup truck, the nation's best selling vehicle, sank 12 percent. That vehicle, popular with contractors, has also been hurt by the downturn in housing and home building.
Ford has deliberately cut back on less profitable sales to fleet customers, particularly rental car companies. But most of the latest decline was due to a drop in sales to retail customers. George Pipas, Ford's manager of sales analysis, said that the company's fleet sales fell just 5 percent, while retail sales tumbled 17 percent.
Pipas had warned in comments Friday that sales would be "terrible" in April, falling short of the company's own targets. But auto sales tracker Edmunds.com had forecast a 22 percent drop in Ford sales in April, so the final sales number wasn't as bad as some had feared.
GM saw sales of cars and light trucks drop 9.5 percent to 307,554 vehicles, although the automaker said that two fewer selling days put its daily selling rate off only 1.9 percent.
The No. 1 U.S. automaker saw its total retail sales fall about 4 percent, but posted a narrow increase on a daily sales rate basis. It also made a large cut in sales to rental car companies, trimming those sales by 23,178 vehicles, which accounted for most of its drop in sales last month.
GM also beat Edmunds.com's forecast of an overall 11.4 sales decline in the month.
Toyota's total U.S. sales fell 4.3 percent to 210,457 vehicles. It was the first year-over-year decline for the Japanese automaker in terms of U.S. sales since May 2005, when it saw a far more narrow drop in overall sales.
Toyota has been gaining market share away from the traditional Big Three automakers. The decline dropped it back to No. 4 in U.S. sales behind DaimlerChrysler for the month.
DaimlerChrysler, which is looking to sell its North American Chrysler Group unit, saw a 2 percent gain at Chrysler and a 2 percent slide in sales at its luxury Mercedes Benz brand, leaving it with a 1 percent gain in overall sales.
Jesse Toprak, senior analyst for Edmunds.com said that he believes much of Chrysler's surprising sales strength likely came from it picking up some of the sales of vehicles to rental car companies that GM and Ford gave up. He said that its tracking of retail sales didn't show the strength reflected in DaimlerChrysler's numbers.
"It's a weak month for sure for the industry," Toprak said. "I think there's going to be a general weakness in retail sales going forward from here, although May is traditionally one of the better months."
The drop in sales at Toyota were modest compared to the sales slides for Honda, which saw sales fall 9 percent, and Nissan, where sales were 18 percent below year-earlier levels. Hyundai and Kia, the two Korean automakers, posted declines of 5 and 7 percent, respectively.


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In the News Teaching Activity: The Market for British Apples (Oct 2023)
According to the British Apples & Pears website, in 2023 an apple a day keeps the doctor away, but costs for suppliers have risen.
Have a go at this free teaching activity, which includes a downloadable worksheet and suggested answers.
October marked the start of the UK apple season and there are a range of factors that have influenced both the supply and demand for apples in 2023.
In this article, apple growers do not expect a bumper harvest this year but believe weather conditions have been good for the taste and quality of British apples. Meanwhile, drought conditions last year have affected supply and producers have also faced higher energy and storage costs. Some orchards are even being uprooted and cleared for alternative uses. However, apples growers may benefit from TV and Radio presenter, Michael Moseley, promoting the health benefits of consuming an apple a day.
Sunniest June for 66 years brings great tasting new season British apples (britishapplesandpears.co.uk)
Read the article and then answer the following questions.
- Read the article to explain how the supply for apples has shifted in 2023.
- Read the article to explain how the demand for apples has shifted in 2023.
- Using a demand and supply diagram, explain what you would expect to happen to British apple prices this autumn. Explain your diagram fully.


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Phil Spencer, Head of Xbox, recently revealed that he is interested in expanding the Xbox brand portfolio with more Casual and Social acquisitions.
In an interview with Bloomberg, Phil Spencer talked about his vision for Xbox, creating new studios, and the supply chain for the company in the future.
“When I think about the kinds of genres that are usually associated with Xbox, yes, we have Roblox, we have Minecraft, we have FIFA and Fortnite, but we want to continue to invest in more social, casual content that’s out there,” Spencer said.
“Part of creating a studio is the idea that at some point I’ll be able to financially exit and realize the risks that I took and see the benefit of that.”
“It’s a two-sided economy of creators starting new teams, taking risks doing new things, seeing that to completion, and then those studios becoming part of something bigger.”
“Diversifying the supply chain is something that we’ve really been looking at Microsoft and Xbox and making some decisions with our supply chain partners to ensure that no one global situation can pinch the supply as much as it has for us over the last 18 months,” he continued.
“We need to be in a position where we continue to deliver products to customers. That’s my responsibility. I don’t get to use the supply chain as an excuse in the long run.”
One of Xbox‘s latest AAA racing games, Forza Horizon 5 is smashing it in terms of player count, reaching over 4.5mil+ players so far. The game has received very well reviews both from the critics and the community.


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List view / Grid view
Weetabix has been accused by Unite of “fire and rehire” plans, while the cereal manufacturer says its ways of working have to evolve to remain competitive.
3 June 2021 | By
With more of us than ever picking up a whisk over the past 12 months, Alzheimer’s Society is calling for budding bakers to take part in its annual Cupcake Day to raise money for the charity.
Pizza Express has changed the way tips paid via credit or debit card are allocated between waiting staff and kitchen staff, raising the conversation of potential legislation on tipping from the UK Government.
The canned beverage market is expected to grow significantly in the years to 2028, while the functional beverage market is also slated to increase in size.
Zeilca Carr, CEO of the Ice Cream Alliance, assesses the damage caused by the COVID-19 pandemic to the ice cream sector and looks ahead to a brighter future.
This week, Chris Elliott looks at the pending trade deal with Australia and warns that the UK’s farming sector might well be the sacrificial lamb, as he fears promises will be broken.
British strawberry season officially kicks off today, with a later than usual start leading to bigger and juicier strawberries for UK consumers than they might normally find.
New study highlights the global regions that will be most affected by climate change – and worryingly, they are those least capable of adapting.
In this interview he shares insights into how to export Seafood to China and the future of the market.


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A pair of alleged fraudsters said to be handing over fake £50 notes to local shops and black cab drivers in Hackney have been identified on social media by their victims.
The man and women, who are believed to be a father and daughter were recorded on CCTV footage by the café, By the Bridge, in Kingsland Road, Dalston last month. They can be seen paying for two bottles of beer with a £50 note, while engaging in small talk with the owner of the shop.
Ms Sezgin, the owner of the café, who wanted to be known by just her second name, claimed that the £50 note passed their blue light, pen and metal strip tests. It was only when the note was rubbed on some paper, part of the ink came off. A complaint has been lodged with the local police and Action Fraud UK, the UK’s national cyber crime and fraud reporting centre.
The cafe posted the CCTV footage on Twitter, prompting a number of other businesses to contact them with similar experiences.
Sezgin told ELL: “Since we reported the incident on Twitter, many local businesses and cab drivers have got in touch with us…which means that we’re just a small fish in the sea. To be able to recreate fine details of the note and to actively dupe individuals for such an extended period only shows that they are no ordinary criminals.”
The individuals have since been tracked down on social media, but have deleted their accounts. However, victims of the duo have circulated their pictures and screenshots of their accounts.
These two scumbags using fake notes. Hitting black cabbies as well as businesses. Beware let’s get them caught https://t.co/hiPhVYov4t
— By the Bridge Coffee (@BtB_Coffee) November 13, 2017
Bill Cutts, a cab driver in the area said: “Their usual modus operandi in taxis is to get in near Old Street roundabout and ask for the West End. A minute into the journey, they fake a phone call or an argument and want to get out. They tell the driver to take a fiver for the trouble and scarper.”
However, victims are concerned that police have so far not taken action.
Cutts added: “Whenever they show their faces, the driver will photograph them and tweet it and someone will invariably copy in the police. If they reply at all, its usually something like ‘You can report it here’ and you get a link. I’ve no idea what comes of it, because they’re never caught.”
Hackney police responded to one of the complaints on Twitter with an image of a counterfeit note seized during a stop and search, but have confirmed that it is not related to this particular incident.
Since their last reported sighting in Hackney, the pair are said to have targeted clothing and flower shops in Essex and Chingford, in north east London.
Scotland Yard said it did not wish to comment on the case.


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Salarymen scrolling through their phones on the subway are a common sight in Tokyo, but they aren’t all playing Pokémon Go – many are on trading apps, aggressively buying and selling the yen to profit from short-term swings.
Retail currency traders are having a field day as speculation mounts that the Bank of Japan is getting closer to raising its rock-bottom interest rates, with some betting on a move as soon as next week. The cohort of mainly middle-aged men is amplifying volatility in the fast-paced currency markets by seizing on intraday moves in a departure from their previous focus on interest rate differentials.
“I’m really convinced that in the current market, short-term trades have become super-profitable,” said Satoshi Hirai, 43, who trades alongside running a video studio in Gifu Prefecture in central Japan. Hirai’s been buying and selling the yen about 100 times a day recently, and used the money he’s made to buy a Leica camera and guitars to play in his punk rock band.
The increased involvement of mom-and-pop traders reflects the new monetary policy paradigm that Japan is facing. The country is the last hold-out for negative rates globally, despite inflation that’s remained elevated, spurring investors to pile on bets that the BOJ may adjust policy sooner rather than later.
Ads for foreign-exchange trading apps have popped up around Tokyo subway stations, cartoon characters including sheep and pigs are all over social media to promote currency trading, and a bar dedicated to retail trading in the upscale shopping area of Ginza is drawing patrons who swap tips over drinks.
These investors have become an important driver of volume at times of volatility, according to a BOJ analysis of developments in 2022. Automatic trading tools, social networking sites and influencers have super-charged the craze, the report last month indicated.
“We have been paying attention to the trend of individual FX investors for some time, but also thought it was important now because the transaction volume increased significantly,” said Hidemi Bessho, deputy head of the Foreign Exchange Division in the BOJ’s Financial Markets Department, and one of the authors of the report.
Volume by retail investors in Japan hit a record high of ¥10 quadrillion ($67 trillion) in 2022, 28% of such trading globally, according to the BOJ report. Retail trading is already at nearly ¥9 quadrillion for the nine months to September, data from the Financial Futures Association of Japan show.
One retail investor, Kazuya Inui, started doing mostly short-term trades about a year or two ago after the yen weakened. “The time from entry to profit can be as short as one second or as long as one day,” said Inui, 47, who’s based in Shikoku, the smallest and least populated of Japan’s four main islands.
“There are some good openings when volatility is high, so I make sure I am ready to trade at any given moment,” said Inui.
The yen has slumped more than 12% this year as Japan’s widening yield differential with the US favors the dollar, and earlier weakened past 150 against the greenback to a fresh low for the year. The fluctuations fueled by speculation that Governor Kazuo Ueda is inching toward a policy change are carving out great opportunities for retail traders.
“They can go in after the spot moves if volatility increases on news like the BOJ,” said Ryo Suzuki, executive managing director at SBI Liquidity Market Co., whose subsidiary runs a trading app. “It seems to me that it’s going well for traders who are repeatedly selling and buying.”
Takuya Kanda, general manager at currency brokerage Gaitame.com Research Institute Ltd., said the short-term traders are overwhelmingly middle-aged salarymen using apps. They are “quite aggressive with their trades” and a different breed to those over the age of 60, who mostly work on personal computers, according to Kanda.
At the other end of spectrum, younger Japanese also seem to be cautious about short-term trading, opting instead for FX saving products that require regular contributions over time, he said.
Thirty-six-year-old Katsuyoshi Suzuki, CEO of small marketing and social media management firm Cyber Impact, has four apps on his phone for part-time trading and does as many as 10 transactions a day. “I trade when I’m traveling, when I’m commuting home from work, and even when I’m hanging out with friends,” Tokyo-based Suzuki said.
Of course buying and selling FX comes with risks, and most Japanese households remain shy about investing in general. Households had 54% in currency and deposits as of the end of March, compared with about 13% in the US, and 36% in the euro region, according to an August report from the BOJ.
“There’s a lot of nervousness,” said Suzuki. “If I’m buying the dollar-yen for example, I’m always looking at what other people are doing and what information is out there to figure out if my thoughts are correct, which helps to calm my nerves a bit.”
The Japanese have been known to be relatively risk-averse in other areas, too. When the GameStop meme-stock crazy plagued the US in 2021, Japanese retail investors stayed back, reluctant to go for something that’s not their routine, safe option.
Still, SBI said that with the yen trading around the key 150 level versus the dollar, there’s a good chance of gains for short-term traders, especially if Japan intervenes to support its weakening currency as it did last year.
Hirai, the trader in central Japan, said that while his biggest daily loss was about ¥1.3 million, he’s also earned as much as ¥9 million in 24 hours. He pins his success to quick trades and increasing his market understanding though online courses and books. Hirai has put ¥25 million into a local school to improve financial literacy and is committed to teaching his six-year-old daughter about FX trading.
Suzuki of Cyber Impact is similarly upbeat. He’s a regular at the Stock Pickers bar in central Tokyo, where drinkers can select from a menu that features a “Lehman Shock” cocktail.
“Right now, my goal is to make a billion yen just from trading,” Suzuki said. “I don’t want to stop until I die.”


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BERLIN (AP) — German automaker BMW AG says its third-quarter earnings were 1.8 percent lower than a year earlier as a result of increased costs for investments, research and development.
The luxury car maker said Tuesday that it earned 1.79 billion euros ($2.08 billion) in the July-September period, down from 1.82 billion euros last year. Revenue edged up 0.3 percent to 23.42 billion euros from 23.36 billion euros.
The company said the BMW Group, which also includes Mini and Rolls-Royce, delivered 590,415 vehicles in the third quarter, 1.2 percent more than a year earlier. Its core brand was helped by the new 5 Series, launched in February.
BMW said it is forecasting a "solid" increase in pre-tax profit for the full year, having previously predicted a "slight" rise.


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Written by Billie Bhatia
Vice-President Kamala Harris, Michelle Obama, Amanda Gorman and First Lady Jill Biden bring a heavy does of considered style as America’s political fashion landscape gets a welcome do-over.
Last night’s presidential inauguration was, to say the least, spectacularly emotional. As President Joe Biden and Vice President Kamala Harris were officially sworn in, America sighed a collective expel of relief. It really felt like with this new administration came a new dawn; one that pledges to unify a nation. While Covid-19 prevented the 46th inauguration from being the party so many had wanted and needed it to be, the pandemic didn’t stop the celebration from spreading far beyond Pennsylvania Avenue.
Over the past four years, we have come to expect a number of things from Trump’s presidency – belligerence, narcissism, intolerance – and in my personal opinion, a complete and utter lack of fashion. While Melania can’t be blamed entirely for Washington’s style slump, she certainly wore some provoking pieces, most memorably that Zara coat with “I Really Don’t Care, Do U?” emblazoned across the back. However, as the sun broke out over the Capitol building, we saw a much-needed return of considered style to Washington D.C., one that has been sorely missed.
With the pandemic forcing the 1,000 high-profile attendants to wear masks obscuring their faces and expressions, it really was down to the clothes to do the talking. And talk they did.
Vice President Kamala Harris chose to wear young Black designer Christopher John Rogers for her swearing in as the first female Vice President. Tailored, sharp and bold, Harris paired the purple dress coat with her signature pearls (these ones from Puerto Rican jeweller Wilfredo Rosado).
President Joe Biden was even in on the occasion, sporting Ralph Lauren for his big day. A Bronx-born designer who has all encompassed what it means to live the American dream. Biden looked reassuringly classic, comfortable and at ease in his wardrobe and his new role.
First Lady Dr. Jill Biden stunned in a teal ensemble by sustainably focussed label, Markarian, matching her mask and her gloves to this considered take on Democratic blue.
We can’t discuss political fashion without Michelle Obama, who continued the high-octane glamour with a flawless look plum purple look from Sergio Hudson, a Black LA-based designer who has previously dressed Beyoncé and Rihanna. In fact, it was double whammy for Hudson as Harris later wore a floor length sequin cocktail dress and coat by the designer.
The star of the sartorial show (and maybe the whole show) was surely the youth poet laureate, Amanda Gorman. Gorman, who shone bright over the entire ceremony in yellow, offset her look with a red Prada headband that sat like a crown. Her stirring worlds were bolstered by youthful colours full of energy and hope.
The celebrities brought their own distinct flairs to the ceremony; Lady Gaga in jaw-dropping Schiaparelli, J Lo cleansing the colour pallet in crisp white Chanel, a colour echoed later in the evening by Katy Perry’s moving ‘Firework’ performance.
However, there was one colour that was the most significant of the day, that spoke the loudest over all the others, and that was purple. With Vice-President Kamala Harris, Michelle Obama and Hillary Clinton choosing this symbolic hue for the inauguration it deliberately set the tone for the days to come. Purple, the colour traditionally associated with power and nobility was given a new lease of life in 1913 when it was adopted by the Suffragettes. It became a colour associated with womanhood, solidarity and freedom.
Now, it takes on new meaning once more. A product of red and blue, purple could even signify bi-partisan unity, finally a leadership that is ready and willing to bring together a nation of divided people with a renewed sense of hope.
And just like that, Washington D.C. is back in fashion business.
Source: Read Full Article


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Inflation is heating up as the economy reopens. Consumer prices in the U.S. surged in April. What’s more, underlying inflation posted its biggest annual gain in nearly three decades.
The Commerce Department reported Friday that the personal consumption expenditures price index excluding the volatile components - food and energy - shot up 0.7% last month. But on an annual basis, the core PCE price index vaulted 3.1%. That was much bigger than March, and it was the most since July of 1992.
That core PCE index is the Fed’s preferred inflation measure, and the April number blew way past the central bank’s inflation target of 2%. But the strong inflation readings had been widely anticipated and will not impact monetary policy. Fed Chair Jerome Powell has insisted higher inflation will be temporary, and most economists share his views. The higher prices reflect pent-up demand, and inflation is accelerating as last spring’s weak readings drop from the calculation.
Friday’s report also showed that personal income plunged more than 13% in April after surging higher in March.
On Wall Street, stocks opened higher, and the dollar rose against a basket of major currencies.


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Barbering is in Their Blood
Rebels & Razors is Sparking a Revival
If you listen closely enough, you just might hear the electricity coming out of a little shop in the heart of downtown — the buzz of hair trimmers, the sounds of chatter, the snips of scissors. It’s all a part of the vibe that fuels Rebels & Razors — a men’s only barber club owned and operated by two energetic twenty-something women.
Samantha Menuey, 29, and Addy Helland, 27, are third generation barbers hoping to revive these age-old skills by helping men experience the kind of haircuts and shaves that Addy’s great uncle and Samantha’s great grandpa doled out decades ago.
“We wanted to bring back that feeling of going to a barbershop – kicking back with the boys, having a beer, relaxing, talking about stuff,” Addy says as she shares the vision behind the shop that she and Samantha have owned for close to a year and a half.
On this morning, Samantha is busy giving a hot towel, straight razor shave. Addy is showing off her fade skills with a haircut across the way. With six chairs in the shop, there’s not an empty seat in the house.
Cedric Neal, one of the “rebels,” a.k.a. barbers who work here, has an idea why this shop bustles.
“It’s a great atmosphere to be in,” Cedric says. He should know. In his 28 years of barbering, he’s owned a few different shops over the years. “Addy and Samantha – their personality is hard to clone. That is what makes this shop unique. They treat everyone like they are family when they come in,” he says.
The road to business ownership wasn’t exactly well paved, however. The pair had worked for a different barbershop at the same location for a few years before approaching the owner to see if he would willing to sell. During the sale, they uncovered finances so tangled that banks preferred to steer clear of financing their new operation. Not ones to back down from a challenge, the two ended up taking out personal loans and, to date, have sunk about $50,000 into the venture to bring their dream to life.
“It was a struggle in and of itself to prove that we were worth it and we could support the shop,” Addy says. Samantha adds, “It was extremely hard. We couldn’t find funding and so literally everything that we have done in the shop came out of our own pockets.”
Today, these ladies are building up a word-of-mouth business and funneling all of their profits back into the business. They are investing in not only the physical structure but in the “rebels” themselves. Samantha shares how the two recently paid $5,000 each to send two of their newest employees to barber school. Samantha adds, “Literally, it’s a family.”
There’s one customer who Samantha calls one of the shop’s “A-1s since day one,” who did a little more than spread word of mouth gratitude for this team’s quality haircuts. Andrew Lindley is the Vice President of Operations at Avitus Group, a company designed to simplify, strengthen and grow small business. While getting a haircut one day, he heard Addy and Samantha talk about wanting a fresh start with a new name for their business. He knew Avitus Group could help. Lindley says, “We provide branding, logo design, website creation – the whole nine yards. I knew we had some of the best people in the country on name branding and logo.” The company put their creative juices to work and came up with a page full of potential names that the two women then had to whittle down.
“I told Addy, ‘You are not leaving my house until we figure this out,’” Samantha says with a laugh. After a few adult beverages, the two kept coming back to one name — Rebels and Razors Barber Club. They loved the idea of a “club,” to share with their customers. Samantha says, “Growing up, Addy and I were never the cool girls. We were queens of the nerd herd.” Addy laughs and adds, “We wanted a business where people felt welcome. ‘That’s my club! That’s my special 30-minute time for a haircut,’ and it’s not just a chop shop where you are in and out.”
If you ask Andrew Lindley, the women succeeded in building a brand that delivers just that feeling. “There aren’t that many men’s only barber shops in this town. They very much know how they want to take care of clients. I have never seen or felt a place that feels like their shop.” Lindley says he was happy to help get this business off on the right foot. “Just seeing how busy they are today and the energy in the shop from even a year ago – it’s been phenomenal.”
While haircuts are these women’s specialties, Addy is quick to mention, “A hot shave is on every man’s bucket list.” Samantha then goes on to share, “Oh, it is so luxurious. For our hot shaves, we do three hot towels instead of one.” Interwoven in between the hot towels are applications of pre-shave oils, an old school lather, a straight razor shave with “buttery results” followed up with an aftershave elixir. “They think it is absolutely amazing. It’s the male equivalent of a facial.”
As men flow in and out of this rustic downtown shop, near the back of the barbershop sits a black and white photo that’s close to Addy’s heart. As she takes it down, she points to her Great Uncle Roy who can be seen smiling, standing next to his barber chair. “He had a cute little shop in Nebraska in the 1930s.” The profession runs in Samantha’s blood too. “My great grandpa on my mom’s side was a barber. My mom’s dad was also a barber for a little while before ranch duties called in good ‘ole North Dakota.” As the two look around the business they created, Samantha says, “Coming from that, I always knew growing up that I wanted to be a barber. It’s the passion behind it, making people feel good.”
Over the years, the women’s relationship has evolved from teacher to student, to co-workers to co-owners. Samantha started cutting hair 11 years ago before going on to get her license to teach barbering. Over the years, she's personally taught more than three dozen barbers. Addy is one of them. Samantha says, “Addy definitely fell into her talent. She’s the dopest fader this side of the Mississippi!” Addy smiles at her business partner saying, “I learned from the best.”
Today, the women claim to operate like yin and yang, balancing each other out. Samantha is the financial guru, handling the shop’s numbers. Addy keeps the shelves stocked and makes sure all of the shop’s independent barbers are happy. The two promised that while operating in services for men, they’d empower women in the process.
“We formed a team of power women,” Samantha says. “Our accountant is a woman. Our business banker is a woman. It’s girl power!” Both she and Addy say they have an open door when it comes to questions from other potential women entrepreneurs. “It is very important to empower each other. If you have questions, come seek us out. We can tell you how we took ten steps in the wrong direction, and maybe you want to try this path instead.”
In the not-so-distant future, these two are hoping to take their luxurious hot shave and hair services across town to a second location. They purposely created a name and logo that they felt was worthy of potentially franchising one day. “Instead of selling a haircut,” Addy says, “we’re selling an experience.”
As the two reflect on their troubles and triumphs in business, they look back to their roots with gratitude. It’s pretty clear that the barbers in both of these women’s past would be more than a little proud. “They’d be really jacked,” Addy says. Samantha adds, “Overall, I do think they would be really proud of us. We are preserving our past. Barbering is a passion.”
They are more than a little excited about what they’ve built and what the future might hold for them.
“It’s nice to open our doors each day to a successful business,” Samantha says. She adds that it is empowering to think about the long days and hard work that went into every piece of this operation. She smiles as she says, “We did that. We made that.”
REBELS & RAZORS is located at 118 N. Broadway. For more, find them on the web at facebook.com/RebelsandRazors


text: According to Reuters, French central bank governor Francois Villeroy de Galhau said in an interview that although Libra can improve the efficiency of cross-border remittances, it must comply with anti-money laundering regulations. The anonymity of Libra users increases the risk. Libra must ensure that transactions and user data are completely secure. If the project seeks to provide more than just payment, but to provide banking services such as deposits, it must be regulated like a bank with all operating national bank licenses. Otherwise it is illegal.


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In another blow to the UK high street, Marks & Spencer has proposed more closures as part of its transformation strategy. Bayswater, Darlington, East Kilbride, Falkirk and Kettering will be amongst the towns affected.
It wasn't a great seven days for John Lewis with the week up to and including May 19 seeing its parent company's sales dipping 0.3% to £202.73 million, but the department store chain’s sales falling by as much as 6.3%.
Fashion lifestyle brand Joules said Tuesday that its non-executive Chairman Neil McCausland will step down on July 31 after more than five years on the board to be replaced by the current CEO of furniture chain DFS.
M&S has added experienced non-exec directors to its board as it prepares to deliver its latest results, with more store closures expected and potential demotion from the FTSE100 if its share price falls further.
As participant, Primark will embrace the three key principles of the initiative: business models that keep clothes in use; materials that are renewable and safe; and solutions that turn used clothes into new clothes.
The Sainsbury’s-Asda mega-merger is edging closer to a competition commission enquiry so nothing is certain until approval. But for now, it seems that Asda’s performance overall is improving and its fashion ops are too.
Mothercare on Friday confirmed what everyone already knew - that ousted CEO Mark Newton-Jones was retuning to the company. And it told us how much he will earning with the new CEO joining on a basic salary of £480,000.


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Mozilla has recently released the latest version of their web browser, the Firefox 19. And while the new release doesn’t have too many new things to offer for its users, Mozilla’s upgraded browser is equipped with an HTML5-based PDF viewer right out of the gate.
The said feature was first introduced in the beta version of Firefox 18 and was expected to be released along with the final build. However, Mozilla decided to not include it on the previous release (not sure why) and pushed it to this version.
Apart from the addition of built-in PDF viewer, Mozilla also addressed some of the bugs (three to be exact) that were spotted on the previous version of the browser, two of which are causing the browser to malfunction during launch. The full run down of changelog can be found here.
Along with the upgrades that Mozilla have done on the desktop browser, they also made some changes on its Android counterpart. The new Firefox 19 for Android now has theme support which allows users to alter the browser’s looks. Moreover, it now has support for Traditional Chinese and Simplified Chinese localizations. They’ve also fixed a pair of bugs in these latest build.
But the most significant upgrade that this new version has is Mozilla’s decision to lower down the minimum requirements (600MHz, 512MB, HVGA resolution) in order for users to use the browser on their mobile device. Other changes can be found here.
Firefox users should be automatically notified about this update. Now for those of you who want to try out the Firefox 19 on your PC, you can download the installer here. As for the Firefox 19 for Android, you can download the app here.


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(Reuters) - Google’s YouTube plans to launch an unlimited subscription service for movies, similar to Netflix and Amazon’s offering, the New York Post said.
The search giant, which has been talking with Hollywood studios for months, is looking to launch the streaming service first in Europe — particularly the UK — before expanding to the United States, the paper said citing executives briefed on the plan.
Google has earmarked $100 million for content deals with studios and other premium content providers in its plan to expand its offerings.
Google was not immediately available for comment.
Reporting by Isheeta Sanghi


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You are here
NEW YORK -- The Indianapolis Colts weren't the only ones that won big during Sunday's Super Bowl XLI. Anheuser-Bush topped two national polls, in addition to TiVo's data, for advertisement popularity during the Super Bowl, according to a report by Adweek.
The company is currently in contention with three other Super Bowl advertisers in the blogging world as well, according to preliminary results from two metric firms, the report stated. The most popular advertisements people are discussing on blogs are from Budweiser, Nationwide Insurance, Doritos and General Motor's Chevy.
"Overall, Budweiser is doing very well. It's looking at about 31 percent positive rate and a 60 percent neutral," Jim Nail, chief strategy marketing officer for Cymfony, a Web analytics company in Watertown, Mass., told Adweek.
The nine Budweiser/Bud Light spots garnered 15.2 percent "buzz" volume -- an indicator of the number of people blogging about a particular topic. Anheuser-Busch's buzz volume was far ahead of the number two, Nationwide, which earned only 6.2 percent in buzz volume, according to Nielsen BuzzMetrics (which, like Adweek and Convenience Store News is a unit of the Nielsen Co.).
The company also snagged seven spots on the top 10 in the annual USA Today survey, in addition to five of the top 10 slots in an online Wall Street Journal poll.
TiVo measured 10,000 homes viewing the live and recorded broadcast. It found that Bud Light's "Language Course" with comic Carlos Mencia was the most viewed spot. The runner-up was Bud Light's "Rock, Paper, Scissors."
Anheuser-Busch did not shut out the competition everywhere. Blockbuster's "Mouse" topped AOL's Web site poll with 13 percent of votes, however, Budweiser took the remaining top four spots in the AOL poll.


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Sprint Nextel is expected to release its financial results for the fourth quarter of 2011 later today, and it appears that numbers are even worse than they were during the previous quarter.
For the three months that ended on December 31st, Sprint lost $1.3 billion on revenue of $8.7 billion. That compares to a loss of $929 million on revenue of $8.3 billion for the same quarter the previous year.
Everything isn’t that bad for Sprint though. The company managed to sell 1.8 million iPhones, of which 40% were new customers..
Sprint saw an addition of 1.6 million subscribers during the fourth quarter, which actually is the best they’ve had in 6 years. The iPhone represented 720,000 of those new customers, or 45%.
Spring CEO Dan Hesse said:
Our strong fourth quarter performance illustrates the power of matching iconic devices like the iPhone with our simple, unlimited plans and industry-leading customer experience. During the past year, Sprint added more than 5 million net new customers and grew wireless service revenue by more than 5 percent, including 17 percent for the Sprint platform. This momentum gives us confidence as we execute our Network Vision upgrade and 4G LTE roll-out.


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Marriott Hotels has introduced its newest lifestyle boutique hotel brand, Edition.
Developers Ian Schrager and JW Marriott Jr say the first properties are expected to open in 2010 and will offer 150 to 200-rooms.
Edition hotels are planned for Paris, Madrid, Costa Rica, Miami, Washington, Chicago and Scottsdale, Arizona, with two planned for Los Angeles.
Schrager is overseeing the concept, design, marketing, branding and food and beverage, while Marriott will oversee the development process and will operate the properties.
By staff writer


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South Lake Tahoe businesses report strong holiday tourism turnout
NNBW News Service
Businesses on Lake Tahoe’s South Shore had good things to say about the recent spike in tourism spanning from Christmas to New Year’s Day.
“We saw an increase in room sales of 24 percent over the 12 busiest days,” said Shannon McIsaac, director of sales at Hard Rock Casino Lake Tahoe.
“Gaming also saw an increase over the previous year. The guitar plaza was packed with guests dancing to our DJs. Attendance grew over last year and we had very happy guests out there.”
Across the street at MontBleu Resort Casino & Spa, director of marketing and entertainment Marimille Dacia reported a 15 percent spike in bookings over last year for the week leading up to New Year’s Eve.
Similarly, Lakeland Village general manager Jerry Bindel saw “higher rates and more sellout dates than last year.”
And with the visitors came the traffic.
Though official numbers for those who took advantage of the free rides offered over the holidays by Tahoe Transportation District won’t be out for another week, all indications show a “successful holiday season,” said district manager Carl Hasty.
“We experienced the traffic, the weather and a lot of visitors,” added Hasty.
Furthermore, the recent storms allowed local ski resorts like Sierra-at-Tahoe to open more terrain — a boon for business, said spokeswoman Thea Hardy.
“We definitely saw a ton of visitors. The storm just before the holiday really helped out with us opening more terrain and accommodating more guests,” said Hardy.
In short, it was a good holiday season indeed.
“As I’ve said repeatedly, the virus — and our personal actions to help mitigate its spread — drives the timeline,” Sisolak said in a Monday statement.


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It’s all about Australian-ness
The government’s new Country of Origin food labelling scheme that commenced on 1 July 2016, will most likely impact you as a business and as an Australian consumer. It’s all about strengthening the Australian Made, Australian Grown logo as well as helping consumers make a clear and informed choice in their purchase decisions.
Food manufacturers are urged to be more transparent about the origin of their ingredients and take on board the option to list the main ingredients of their products. At Emrich, we welcome the government’s commitment to giving shoppers better information about the ‘Australian-ness’ of their food choices.
As a 3rd generation Australian owned family business, we’re committed in strengthening the Australian brand. Steve Richardson and his father Gavin began Emrich in Perth in 1986, and successfully expanded to Melbourne, Sydney and Brisbane, with Michael and Matthew Richardson joining the family business. After 3 decades, Emrich has established itself as a leading innovative packaging solutions company and serves customers in capital cities and remote and regional areas throughout Australia.
When you choose Emrich as your packaging machinery specialist, you’re supporting the Australian brand and our local economy. We provide employment for Australians and all the profits remain here, helping the future of our country.


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GARBERVILLE, Calif. — Proposition 64 would legalize the recreational use of marijuana starting Jan. 1, 2018. The ballot measure is 62 pages long and aims to regulate the entire cannabis industry, from seeds to pipe. Here are highlights:
A quick look at Proposition 64 & Election 2016
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Watch The Cannabist Show.
Peruse our Cannabist-themed merchandise (T’s, hats, hoodies) at Cannabist Shop.
— Permits adults who are at least 21 years old to possess up one ounce of marijuana buds and eight grams of concentrate.
— Permits adults who are at least 21 years old to grow up to six marijuana plants.
— Requires licensing for growing and selling marijuana.
— Imposes a 15 percent tax on retail sales. Also taxes farmers $9.25 for every ounce of bud sold in addition to $2.75 per ounce of leaves.
— Allows cities and counties to impose their own regulations and taxes on recreational marijuana.
— Cities and counties are also free to ban recreational marijuana businesses within their borders.
— Provides funds to develop driving-while-impaired guidelines
— All taxes collected are placed in the California Marijuana Tax Fund, which the state Legislative Analyst estimated could reach $1 billion annually.
— Creates packaging, labeling and advertising standards.
— Changes state marijuana crimes and penalties.


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Watch today’s Pocketnow Daily as we talk about Google’s YouTube and Maps application updates for Android and iOS. We later go through the HTC Zara leaks, and what this means for the company. The iPhone 5C is next as some leaked photographs of the device in black make it seem fake. We later go through some flexible-display technology, and the two tech giants interested in starting the revolution. We end today’s show talking about the Moto X, and if it’s a good idea to engrave it.
All this and more after the break.
Stories: – YouTube for [...]
Several months ago Waze, the insanely popular GPS navigation company, was in the middle of negotiations over selling their company to the highest bidder. Facebook reportedly want to buy Waze for the social aspects of the company. Google apparently didn’t want Facebook to become a competitor in that industry, so the two companies got into a bidding war. What would this new partnership be called? Facebook Waze? Facebook Maps? Google Waze? Google Maps and Waze?
As soon as the bidding started to heat up, I posted an article in which I made a very bold statement:
In the States, yesterday was Memorial Day. It’s a day we spend remembering men and women who have given of their lives, times, and talents to fight for our Freedom and Liberties. It’s also a time where we honor our departed loved ones by visiting and decorating graves. In my family, it’s an annual tradition to gather at Grandma’s house, then trek to three cemeteries, cleaning headstones, placing flowers, remembering all the good times had together, and forging new memories as well. Memorial Day also represents a three-day weekend in which a great many people [...]


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Michael Jordan is “robbing the hood” and doesn’t care that “kids [are] dying for shoes”, according to former National Basketball Association player Stephon Marbury. With Jordan’s coming with a three-digit price tag, the polarizing guard teamed up with the now defunct Steve & Berry’s in 2006 to develop the “Starbury” a $15 signature basketball shoe that was both affordable and comfortable.
During a 2007 episode of ABCs 20/20, Marbury put his shoes up to the test by sending them to Parsons The New School for Design to be analyzed and compared to a pair of Air Jordans for quality.
Calling him greedy, Marbury said, “I’m off the kids getting killed for Jordan’s”. He made 0 million off of Jordan Brand alone a year ago, and has several longstanding endorsement deals – not to mention the majority ownership stake in the Charlotte Hornets – to supplement that baffling primary income. Jordan apparel and the worldwide business add more than $1 billion as well.
For Marbury, that is obscene. Jordan himself has stayed mum on the violence related to his shoes, while the brand has only tried to stem matters by initiating a raffle system for select releases. The Brooklyn native threw a few shade at King James as well, when a Twitter follower pointed out the Cavaliers star’s shoes also sell for well over $200.
Nike and the Jordan Brand, of course, aren’t the only high-priced sneakers and the company has tried to temper the release of new models with RSVP and raffle systems, including for the Kevin Durant shoes, through the internet. He moved to China in 2010, and now plays for the Beijing Ducks. But violence has occurred for years and resulted in a memorable Sports Illustrated cover in 1990.


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Just recently announced as part of the Nike Free 2014 Running Collection, we already declared early on that the new Free 4.0 Flyknit was among our favorite Flyknit sneakers to date. A clean silhouette that will for sure be a big hit both on and off the running track. This week the sneaker has released in the much-anticipated multicolor colorway, which is with every Nike Flyknit silhouette among the most popular, most likely because the upper truly shows what a Flyknit can do. The sneaker will release at Invincible on April 12.
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Study Tour to Make an IMPACT
Wine Industry Suppliers Australia Inc (WISA) is inviting grape growers, winemakers and associated stakeholders including industry suppliers to attend an information session aiming to establish a study tour to France in 2019. The tour, hosted by WISA and held in partnership with Slow Tours and Atout France (France Tourism Development Agency) will open doors to behind the scenes experiences and opportunities to grow delegates knowledge and network on an international scale.
WISA Executive Officer, Matthew Moate, is excited about the opportunity that the tour will provide in creating high value meaningful and long-lasting links between the Australian and French wine industries.
“Advancement in innovation and technology is changing at a rapid pace in our industry. It is important to provide the opportunities for industry stakeholders to have the first-hand experience to exchange knowledge and make lifelong connections that we expect this initiative will deliver.” Said Moate.
The 15-day international tour, departing on the 26th August 2019 and held in partnership with WISA member company Slow Tours, will visit key regions in France including Burgundy, Bordeaux and Cognac. It will include money can’t buy behind the scenes experiences, master classes and networking opportunities for delegates.
WISA is hosting a free information night for interested grape growers, winemakers, suppliers and broader industry stakeholders in Adelaide on the 24th October 2018. The information night will have representatives from Atout France on hand to answer questions about the opportunities of the proposed tour.
“We’ll be looking to work with a range of business partners, government and broader industry stakeholders both in Australia and France when pulling the program together and initial interest from these groups is encouraging.” Added Moate
He concluded, “This is an exceptional opportunity for Australia’s wine industry to make meaningful connections with our French counterparts through this industry-driven initiative that will deliver value well after the tour has returned.”


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Just because LSU has lobbied for years for the SEC to lift its ban on member schools selling alcohol at athletic venues, that doesn’t mean the athletic department is in a rush to tap kegs and pop open corks.
In the days since the SEC agreed to allow the selling of beer and wine in public areas at its athletic events, LSU has begun reviewing the policy change to determine how—and whether—to open up more beverage sales.
While selling alcohol opens another revenue stream for athletic departments, the decision to chase those dollars is up to each member university. The policy requires participating schools to establish designated stationary sales locations, and it limits fans to purchasing one drink at a time, restricts vendors from selling alcohol in seating areas, and comes with designated stop times for each sport.
“We have to look at all the variables that come into play,” says Senior Associate Athletic Director Robert Munson. “We have to do what’s best for LSU. It’s going to be a deliberate and thoughtful process on our part.”
Based on the terms of an existing 10-year contract, Aramark Sports and Entertainment Services is LSU’s concessionaire and holds the rights to sell beer and wine at its athletic venues. Should LSU move forward with the SEC policy, Munson says the school would work closely with Aramark and any subcontractors the company hires in a “very open process.”
Munson says he would expect products to come from a “mix of local, regional and national partners”—some with which LSU has existing relationships, though he declines to name them.
But long before working out vendor details, there are other aspects of the policy LSU must consider, including the mandated alcohol management procedures.
“We have to look at our facilities and determine what we’re capable of doing now versus a few years from now,” Munson says. “We need to get everyone in a room and walk through everything in its entirety.”
LSU’s slow approach mirrors those taken by officials from Alabama and Auburn, who both told ESPN they planned to take their time considering how and whether to roll out the changes.
LSU doesn’t have a timetable planned for implementing the policy, which goes into effect Aug. 1.


text: The delivery company is hoping today’s quarterly earnings report will restore confidence. FedEx’s stock price has fallen by nearly a third since June, as the Sino-American trade war has weighed on earnings. Even more worrying is a growing threat from one of the company’s best customers: Amazon. The online retail giant was once completely reliant on firms like FedEx and UPS to deliver its vast range of products; now it makes many shipments itself. Investors worry that Amazon could take its in-house network to market to compete with the industry’s established players. Amazon Web Services, its $25bn cloud-computing division, followed a similar path. If there is a bright side, it is that FedEx’s chief rival UPS is exposed to many of the same threats, and more. It derives a bigger portion of its revenue from Amazon shipments, and is also now facing a lawsuit from African-American employees alleging racial discrimination.


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Marka Holding Recognized for Excellence in Franchising by MENA Franchise Awards
Dubai, United Arab Emirates: Marka PJSC (DFM: MARKA), the first public joint stock retail operator in the UAE, has been awarded ‘Best MENA Franchise Brand’ at the MENA Franchise Awards for Excellence in Franchising for its flagship restaurant Reem Al Bawadi. The award, given on 25th October, recognizes Marka’s excellence as Best MENA Franchise Brand.
The award ceremony was held at Dubai’s Jumeirah Beach Hotel Convention Centre, with awards presented by His Excellency Abdulrahim Hassan Nagi, Secretary General of GCC Chamber of Commerce, Mr. Atiq Juma Nasib, Senior Vice President, Dubai Chamber of Commerce & Industry and Dr. Khalid Al Sharfa, Chairman of Middle East & North Africa Franchise Association (MENAFA) The MENA Franchise Awards are held under the patronage of His Highness Prince Bandar bin Saud bin Khaled Al-Saud, Honorary Chairman of MENAFA.
Nick Peel, CEO of Marka Holding said: “We are honoured to receive this prestigious accolade, which follows a period of significant franchise expansion for Reem al Bawadi, with outlets opening in Dubai, Al Ain, Jeddah and Bahrain over the course of the past few years. We plan to continue this franchise development and look forward to welcoming new franchise partners. From the starting point of just a single outlet in 2001, Reem al Bawadi’s popularity has enabled it to become one of the largest, best-known and highly-regarded food and beverage brands in the UAE.”
Hesham Almekkawi, Managing Director of Marka Hospitality added: “The GCC countries are rapidly emerging as one of the fastest-growing food service industry markets, and with Reem Al Bawadi we offer a shining example of a relaxed yet sophisticated restaurant & café that appeals to diners and franchisees alike. We offer customers an inviting dining environment and a franchise that has considerable market appeal across the region.”
Reem Al Bawadi was awarded ‘Best MENA Franchise Brand’ due to the restaurant’s strong brand power, along with world-class strategic marketing incorporating launch planning, consumer promotions and product support materials. Judges also considered its operational learning system including field training, and strong supply chain networking that includes approved supplier listings for all key food ingredients and equipment.
Reem Al Bawadi has gone from strength to strength, expanding globally with 11 restaurants currently in operation, and another three franchises already signed for 2017. Despite a regional slowdown the brand has sustained its profitability, expanding and growing its business with each year. The restaurant offers a taste of Modern Arabia, along with an uncompromising commitment to superior quality and outstanding service. Its ethical transparency and its quality guarantee for consumers are strong values that have earned it the trust of many customers in Middle East and beyond.
The brand is no stranger to accolades and recognition, having collected the What’s On Dubai Awards for two consecutive years (2014 & 2015) in the coveted ‘Affordable Dining’ category. It was also the recipient of the ‘Best Middle Eastern Restaurant’ at the prestigious BBC Good Food ME Awards 2014.
About Marka PJSC:
Marka PJSC (DFM: MARKA) is the first public joint stock company focused on the growing retail sector in the UAE. Incorporated with a capital of AED 500 million and headquartered in Dubai, Marka is a premier retail operator targeting the mid-to-high-range and luxury segments. Since incorporation in 2014, Marka has partnered with leading global brands in the retail and hospitality sectors, pursuing a growth strategy focused on acquisitions, franchise agreements and unique home-grown retail concepts.
Marka is committed to offering value to its customers through high quality products and services at optimum cost, simultaneously generating value for its shareholders and giving back to the communities in which it operates.