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Apple Inc. argues that GlobalFoundries' efforts to seek trade sanctions against rival Taiwan Semiconductor Manufacturing Co. for allegedly stealing computer chip technology would "effectively eviscerate" the supply of iPhones in the United States.
TSMC makes the central processing units that power the iPhone, and GlobalFoundries recently filed an intellectual property complaint against TSMC and its customers, including Apple, with the U.S. International Trade Commission.
GlobalFoundries is asking the trade commission to launch an investigation into allegations that TSMC has been stealing GlobalFoundries' chip technology, some of which had been developed at GlobalFoundries' Fab 8 factory in Malta and at research labs at SUNY Polytechnic Institute in Albany.
GlobalFoundries also wants the trade commission to ban all of the offending TSMC chips from being imported into the U.S., a move that Apple and TSMC have told the trade commission will harm U.S. consumers and hand Samsung a virtual monopoly in the U.S. smartphone market.
"An order excluding Apple's products would significantly harm public health and welfare in the U.S.," lawyers for Apple wrote in a Sept. 6 filing with the commission. "Apple's devices and the apps designed for Apple's devices have wide use in all areas, including business, governmental, health, safety, and entertainment."
Like GlobalFoundries, TSMC is a s0-called chip foundry that makes chips for companies like Apple that don't have their own chip factories. TSMC is the world's largest foundry, with $33.5 billion in sales in 2018, about half the entire market. GlobalFoundries, which also has fabs in Germany and Singapore, is the third largest foundry behind Samsung but has less than 10 percent of the total market.
GlobalFoundries' appeal to the trade commission for help against TSMC comes as GlobalFoundries radically changed its business model by radically reducing its spending on research and development and pulling back on moving into the latest manufacturing technologies such as 7 nanometer chips.
Although GlobalFoundries ended up laying off more than 400 workers at Fab 8 last year, the company said it has become profitable for the first time in its 10-year-history, putting it in a stronger position to compete with TSMC and Samsung in the future. GlobalFoundries currently has 3,000 employees at Fab 8.
"For years, while we have been devoting billions of dollars to domestic research and development, TSMC has been unlawfully reaping the benefits of our investments," Gregg Bartlett, GlobalFoundries senior vice president of engineering and technology, said when the complaint was filed with the USITC last month.
GlobalFoundries has been pressing its case in public and behind closed doors with political leaders to show how important the company is to U.S. semiconductor manufacturing during a time when chip production is increasingly moving to China.
So far this year, GlobalFoundries has spent $450,000 on lobbying the federal government, including Congress and the White House, up from $305,000 in total last year. The company's concerns include China and anti-trust issues, according to federal filings.
On Tuesday, GlobalFoundries CEO Tom Caulfield, who used to be general manager of Fab 8, had a meeting with U.S. Sen. Charles Schumer of New York. Schumer later issued a press release saying Caulfield told him he was "optimistic" that GlobalFoundries would increase headcount at Fab 8, which currently has about 200 job openings.
"Good-paying, American manufacturing jobs like those at the GlobalFoundries plant in Malta are a precious commodity these days, and I will continue to give my full support to the company in any way I can to bring as many more upstate jobs as possible," Schumer said.
GlobalFoundries spokeswoman Erica McGill said that meeting and Schumer's statement "emphasizes strong support and growth for GlobalFoundries in New York."
Both TSMC and Apple have argued in filings with the trade commission that GlobalFoundries doesn't have the capacity itself to replace the production of iPhone chips that would be lost with a ban against TSMC.
GlobalFoundries replied to the commission on Sept. 11 that the domestic chip shortfall could be made up by itself and Samsung, which used to make iPhone chips for Apple before losing the contract to TSMC. GlobalFoundries also licenses some of Samsung's technology and they have partnered on manufacturing in the past.
GlobalFoundries said it and Samsung are "more than capable of replacing" TSMC's chips, and "can do so in a commercially reasonable time frame."
It's unclear when the USITC will decide whether or not to launch an investigation into TSMC, which could result in trade penalties against the Taiwan chip-maker.


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DETROIT -- Chrysler LLCs plan to eliminate a quarter of its U.S. dealerships by June 9 means the vast majority of the surviving stores will sell the Jeep, Dodge and Chrysler brands under the same roof -- a longstanding goal of the bankrupt automaker.
Under the strategy outlined today, 789 dealerships will be shut down and 2,392 will survive to become part of Chrysler's planned alliance with Fiat S.p.A. (See lists at right.)
About 80 percent of the remaining dealers will carry all three brands, compared with 62 percent currently, the automaker said in court filings. That will help meet the goals of Project Genesis, the 2008 strategy to put the brands in the same showrooms.
The cuts are being made "with a deep sense of sadness,'' Steven Landry, Chrysler's executive vice president of sales, said in a statement. He said Chrysler used a "data-driven matrix" to make the decisions. The dealers targeted for closing account for 14 percent of Chrysler's U.S. sales volume, he said.
The remaining dealers will be left to battle the worst U.S. market for auto sales since 1981 as the longest recession since the Great Depression continues to take its toll. So far this year, Chrysler dealers have sold 323,890 vehicles in the United States, down 46 percent from a year earlier and 64 percent below the four-month total of 1999, when the operation was on its way to its peak sales year.
Chrysler President Jim Press told reporters during a conference call that there is no appeal process. Chrysler executives also said bankruptcy laws dont require them to buy vehicles, parts and tools from terminated dealerships.
A memo from one Chrysler district manager to dealers in one district said that through June 9, the targeted stores would operate business as usual under a court review period. Warranty and incentive payments would be made through June 9, the memo said.
Chrysler executives said the rejected dealers have about 44,000 new vehicles in inventory. Of those, about 4,000 are 2008 models and the rest are 2009s.
We expect to redistribute the majority of the 2009s over the next three to four weeks, said Landry. We have no plans to go to auction with the vehicles.
Landry said Chrysler will help broker the transactions.
Since Chrysler factories are shut down during the bankruptcy period, Landry said he believes surviving dealers will pick up the inventory.

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Ansip aims for one online market
“The creation of the digital single market in the European Union will be beneficial for everybody, including Korean companies,” Ansip, vice president for the European Commission’s Digital Single Market (DSM), told the Korea JoongAng Daily as he sat for an interview Friday at the Four Seasons Hotel in central Seoul.
“In the European Union, we were able to create a single market more than 20 years ago, but a digital single market does not exist,” said Ansip. “You have a huge European single market with more than 500 million customers.
“But in the digital field, we still have 28 relatively small markets. Because our life and economy is every day becoming more and more digital, we have to be able tear down barriers once again and create a digital single market in the European Union.”
He described the European Commission’s vision of a digital age market that would tear down regulatory walls and move from being made up of 28 national markets to one, which he said would also be beneficial to Korean companies.
“Global players, such as Samsung Electronics or LG Electronics, need to deal with 28 different types of rules with a fragmented EU digital market,” said Ansip. “But it will be much easier for Korean companies to do business in Europe with one set of market rules, not 28 sets.”
He said the commission adopted a strategy with 16 different initiatives in May of last year, adding, “This year is the delivery year.”
Ansip also said the EU plans to abolish roaming surcharges starting on June 15, 2017.
“Our people can also enjoy portability of content next year,” he continued. “Today, 20 percent of Europeans are spending at least 10 days of the year in other EU member states. Many of these people will like to have access, when traveling to another EU member state, to their legally bought digital content in their home countries, but because of copyright restrictions, they cannot.”
Ansip, on his first visit to Seoul, met with government officials involved in digital and technology policy and visited conglomerates, start-ups and innovation complexes such as Pangyo Techno Valley, the industrial complex in Gyeonggi.
“We have to deepen digital cooperation between South Korea and European Union,” Ansip said, following his various talks during his three-day visit to Seoul, which wrapped up on Saturday. This includes the fifth-generation mobile communications network, also known as 5G, as well as research and development, cyber security issues, e-government systems and high level political discussions on ICT.
Ansip said he visited Samsung Electronics Thursday, where he had “fruitful discussions” and visited the Samsung Innovation Museum in Suwon, Gyeonggi.
“The most impressive part was the 5G technology,” he recalled, “and this is about much higher speeds, more efficient usage of energy, more efficient usage of spectrum. If our people, our industries, can use 5G technology, then we don’t have to dream about self driving cars or remote search operations; it will become a reality. And Samsung is pretty close to that already.”
The telecommunications provider KT is planning to make trial 5G services available at the 2018 PyeongChang Winter Olympics.
“I took part in the G-7 meeting in Japan and they said they would use 5G during their Tokyo Olympic Games in 2020,” said Ansip. “In the EU, we hope for all urban areas and main transport paths to be connected to 5g networks by 2025. And at least one major city in all the member states have to provide commercial-based 5G services by 2020. This is a global competition. I’m happy that cooperation between South Korea and the EU was already pretty good in this field, but we have to agree to common standards. This is important not only for South Korea, but the EU and the whole world.”
He pointed out, “In Europe, I think all the people know that South Korea is the most innovative country in the world. It’s a real leader in research and development investment.”
Ansip also weighed in on Brexit and the repercussion of the United Kingdom’s referendum on leaving the European Union.
“I’m absolutely sure the European Union is a good and beneficial project for all the EU member states,” he said.
“I come from small Estonia, and all the Estonians know that the EU, when it was created, was a peacekeeping project. People in my country still remember the results of the last war. For Estonians, the European Union still is a peacekeeping project. But the EU is also a really beneficial economical project.”
Ansip said that some 70 to 80 percent of Estonia’s exports are to other EU markets.
“But the single market was and is beneficial for all of the EU member states, including for the United Kingdom,” he said.
“The United Kingdom is one of the strongest supporters of DSM in the European Union. Of course, it’s bad news for me that they decided to leave the European Union. But it doesn’t matter; inside or outside the union, we have to have pragmatic relations with all the countries around the world, including with the United Kingdom.”
Relations between the European Union and South Korea are in good shape, he said, with a current trade volume this year of 90 billion euros ($95.7 billion).
BY SARAH KIM [email@example.com]


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Gwen Stefani adds dates to fall tour
No Doubt singer Gwen Stefani has added more dates to her North American arena tour in support of her multi-platinum solo debut, "Love. Angel. Music. Baby."
Her Interscope Records labelmates The Black Eyes Peas will support Stefani on all dates except for her Nov. 3 show in Atlantic City, NJ.
Dubbed the "Harajuku Lovers" tour, the outing--which takes its name from Stefani's forthcoming fashion line--launches in mid-October, and is now scheduled to visit 25 cities. The new leg of the tour kicks off Nov. 11 in Dallas and runs through a Nov. 25.
Released last December, "Love. Angel. Music. Baby." is double-platinum certified for shipping two million copies in the U.S., and has sold more than five million copies worldwide, according to Interscope Records. Fueling sales are a trio of singles: "What You Waiting For?," "Rich Girl" and latest hit "Hollaback Girl," which has spent 21 weeks on Billboard's Hot 100 Airplay chart, including several week in the No. 1 position.
Stefani was recently nominated for six 2005 MTV Video Music Awards, including Video of the Year and Best Pop Video for "Hollaback Girl." A list of all her VMA nominations can be found at her official website.
Stefani is also set to appear at "Fashion Rocks," the second annual concert presented by Conde Nast media to kick off New York's Fall Fashion Week. The Sept. 8 event at Radio City Music Hall will also feature performances by Tim McGraw, David Bowie, Destiny's Child, Alicia Keys, among others. CBS-TV will air a two-hour, prime-time "Fashion Rocks" special Sept. 9.


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Here's a feel good story for the day – at least for developer Imangi Studios: it's ultra-popular iOS and Android game, Temple Run, is … ultra-popular. According to a press release issued by the company today, Temple Run has been downloaded over 100 million times in the last year, with over 68 million downloads on iOS devices, and on 32 million Android devices.
The company also revealed that over 10 billion sessions of Temple Run have been played since August 2011. They say that it is the equivalent of 54,000 years spent playing the game. Based on the number of downloads in the U.S., 13 percent of the U.S. population has downloaded Temple Run.
Just for fun, check out the infographic they created.
No doubt Zynga is considering buying them at any moment (that's a joke, but it could happen)…
You can read the press release here. The company is also offering – for a limited time – all games made before Temple Run for free. Good deal.


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Would be interested in hearing more about how that one ‘top story’ is determined. Guessing RTs, but not word from Twitter on that yet.
“Twitter shows only one ‘top story’ for any search result, so the publisher who wins that spot for a given story will win big.”
Michael Woodford asked too many questions. That’s the reason the 51-year-old Englishman gives for why he lost his job as the first-ever foreign-born CEO at Japanese camera maker Olympus a mere two weeks after he was given the role in early October.
Woodford tells Reuters investigative reporters Kirstin Ridley and Alexander Smith in a new special report that it was his inquiries into a series of questionable takeover deals and advisor payouts the company made over the past half decade, including the biggest mergers and acquisitions fee ever, that led to his ouster. Board members insist instead it was Woodford’s failure to grasp the company’s management style and Japanese culture that cost him the job, but Woodford says allegations of a “power grab” by him are not the “real story”. Now, Woodford is on a one-man campaign to “cleanse” Olympus with the goal of removing its entire board.
Barnes & Noble sent out invites on Monday to a Nook-related event coming up on November 7. Most tech watchers expect the company to use the occasion to unveil a new version of its Android-powered Nook Color tablet e-reader, which could sport a better screen and upgraded hardware.
As CNet points out, the most anticipated question will be how much Barnes & Noble decides to charge for the new device. “With the Kindle Fire on sale at $199 (it ships November 15), there’s some pressure on B&N to come close to matching that price, though Amazon is allegedly losing money on each Fire it sells (our sources suggest the Fire currently costs around $220 to build). With that being the case, Barnes & Noble is more likely to come out with a faster, more powerful Nook Color that costs $249, though we wouldn’t be surprised to see it at $299,” writes David Carnoy.


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The PlayStation 5 is reportedly due for a redesign nearly two years after its initial launch according to Tom Henderson. While the current versions include a digital download-only console and a disc console, this new overhaul could include a detachable disc drive. In 2021, Sony began rolling out lighter consoles in select areas that, according to users who observed the inside of its hardware, appeared to have a different motherboard and heat sink.
First released in November 2020, the PS5 has undergone several changes including raises in price and cosmetic upgrades. This news comes as Sony revealed the PS5's new DualSense Edge Controller at Gamescom 2022. Prior to sharing news about the detachable disc drives, Henderson tweeted that Sony was set to unveil hardware changes that possibly implied further changes to the console.
According to an article by The Verge, a detachable disc drive may be a solution to users having issues reading discs on their consoles as it will reportedly be able to purchase separately from the individual console or as a unique bundle. Set for a potential release in late 2023, it is unclear whether this change will have an impact on the visual appearance of the console as previous hardware changes have had little to no effect on it at all.


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Huawei Mate 20 Pro, which will be released this fall, will receive AMOLED-display with a diagonal 6.9 inch. Writes about this business South Korean newspaper, The Bell , citing sources in the supply chain. Interlocutors of the edition noted that the production of matrices for the future of the smartphone will the leader of the industry in the face of Samsung Electronics.
If the information is confirmed, The Bell, the Mate 20 Pro may be one of the largest smartphones to ever come to market. To the device failed too overall, the manufacturer would have to try fairly to make frame edges display minimal so far as it is possible in 2018.
It is possible, however, that the Mate 20 Pro will consist of two parts and a folding mechanism, becoming the first decision maker with a similar form factor. At least Huawei solemnly promised to release something similar to the end of November, which is very close to the traditional release of the smartphone line Huawei Mate October.
To discuss this and other news Android in our Telegram chat.


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North America’s truck manufacturers must have found some comfort in Canadian sales figures this fall, as several of them plunged into their annual budget deliberations. Canadian fleets and owner/operators purchased 9,931 Class 8 trucks in the first half of 2003 — a 14.2% gain over the same period in 2002 — even as U.S. sales plunged by 7%.
It should be little surprise that Canadian sales have outpaced those south of the border. In words evoked by U.S. President Bill Clinton, “It’s the economy, stupid.” The construction market is on the rise, the value of the Canadian dollar has given carriers additional purchasing power, and business in Alberta’s Oil Patch is strong.
“I find the size of the percentages surprising, not the direction they’re going in,” says Bob Pielsticker of KPMG’s Transportation Services practice. “I’ve not met a carrier this year whose revenue has not increased over last year.
” The situation contrasts with life south of the 49th parallel, adds the consultant. “Their volumes are down, rates are down, profits are down. It’s a real depressing scene.”
“The short answer is basically that the Canadian economy has been stronger in recent quarters, and economic factors drive truck sales,” says Volvo Trucks spokesman Jim McNamara, adding that a strong Canadian dollar has been matched by a “strong increase in orders and sales.”
“There’s been a significant reduction in the cost of vehicles,” agrees Brad Thiessen, general manager of Freightliner’s Canadian operation. And the dollar that drives it is expected to remain strong. The BMO Financial Group expects the exchange rate to remain at current levels until the end of next year.
Since North America’s truck manufacturers are headquartered in the U.S., exchange rates are a factor in sticker prices. But there’s a catch – a healthy Loonie could weaken exports that fill lucrative cross-border lanes, and those shipment volumes declined throughout the second quarter of 2003.
It’s an unsettling trend. While domestic freight accounts for 74% of the total tonnage hauled by trucks, cross-border shipments account for 46% of the revenues (more than 50% if you include only carriers with at least one million in annual revenues), according to Statistics Canada. And revenues are the ultimate driver of truck sales.
Thiessen uses words such as “reasonable” and “stable” when describing the current Canadian truck market. “We’re not tickled pink with the market in Canada by any respect,” he says. “I don’t want to give the impression that the Canadian market is booming. I want to give the impression it’s more stable than the U.S. scenario.”
But the 22,000 Class 8 truck sales that he expects in 2003 is still an improvement over the 20,289 sold in 2002.
This year’s sales weren’t linked exclusively to economic forces, however.
Fleets in the U.S. rushed to buy truck engines built before October 2002 — the deadline for new emissions standards — because of questions relating to how fuel economy would be affected by associated changes in technology.
Among sales executives, it became known as the “pre-buy”.
“The U.S. was impacted a little bit more,” says Bill Kozek, Kenworth’s general sales manager, North America. “There was a six-month period where there was definitely a reduction in order intake.”
“The good news is that the EGR (Exhaust Gas Recirculation) experience has been nowhere as big a problem as people thought it would be,” Thiessen says, noting how the emission-cleansing technology has proven itself.
The southern sales patterns, though, may have affected some Canadian buyers.
“We had some engine shortages because of it,” says Jim Schumacher, president of International’s Canadian region. “Some of the business I might have done in ’02 was pushed into ’03.”
International also faced a six-week strike at its production facilities in Chatham, Ont.
The urge to jump at the 2002 engines was also more likely to be experienced in the U.S., where huge truck fleets account for a bigger share of the business, he says. “It’s more of an impact to larger fleets, where a quarter mile fuel economy is a more significant number.”
Some of the strongest Canadian sales have been associated with vocational trucks and municipal markets.
“The Alberta region has been one of our strongest,” Kozek says. Canada’s Oil Patch has been thriving, thanks largely to a boost in the price of crude oil. And that translates into businesses that need to buy equipment.
Granted, other sectors in Western Canada haven’t shared in the fortunes.
“That party could be threatened a little bit by the fallout of Mad Cow (Disease),” Thiessen says. “There’s not one guy hauling livestock these days who’s looking at buying new trucks.”
For that matter, shipments of lumber out of B.C. have been affected by the trade dispute with the U.S. concerning softwood lumber.
But where these markets have struggled, the construction business has been strong across Canada. As of July, building permits were up by 9%,when compared to the same period in 2002, Statistics Canada reports.
“Demand has been strong for concrete mixers, dump trucks and crane trucks all across the country,” says John McQuade, Mack’s regional vice-president.”The highway market, especially within Canada, has also been quite strong as a lot of material is being transported to supply the healthy construction industry. As the U.S. economy starts to recover, we should see more demand for highway product.”
LET’S MAKE A DEAL
Pielsticker says manufacturers also appear willing to negotiate attractive deals in Canada, particularly as U.S. sales continue to struggle. “I think in the sales side of things, salespeople are being pretty aggressive…we’re seeing some pretty sweet deals right now.”
Some fleets might also face a greater need to replace their used equipment, since they haven’t been able to stick to the three-year trade cycles adopted in the late 1990s.
“We have certainly seen, in some applications, trade cycles being extended probably by six to 12 months… there’s been a number of purchases out there that are obviously being extended,” Thiessen says.
Sam Barone of Transportation Partners in Ottawa suggests that fleets will want to stay as close as possible to the 36-month cycle, to maximize newer technology. Others will simply want to stick to their long-term expansion plans despite short-term troubles, he adds. “If you’re assuming growth in certain lanes, you’re going to have that accounted for in your fleet plan.”
The question is whether Canada can retain its lead. There’s no doubt that Canada’s economy stumbled in the second quarter of the year. Exporters are facing a strong Canadian dollar for the foreseeable future; Toronto’s tourism industry was scarred by the emergence of SARS in its hospitals; and the beef industry has seen its products shunned over fears of Mad Cow disease.
Still, Canadian fleets bettered their financial performance when compared to last year. The nation’s largest for-hire carriers posted operating ratios of 0.95 in the second quarter compared to 0.96 during the second quarter in 2002, Statistics Canada reports. Anything less than 1.00 equates to an operating loss. (To put the number in perspective, however, it should be noted Canadian railways posted operating ratios of 0.75 in 2002 — making 25 cents on the dollar.)
The third quarter of 2003 also began with a 1.7 per cent increase in manufacturing shipments, after a dismal second quarter.
HISTORY AND FUTURE
History could also repeat itself within a few years.
“In 2007, the cost of the truck (specifically, its engine) could be raised significantly,” Kozek says, referring to the unknown commodity of a truck engine that has to meet the next round of emissions regulations mandated by the U.S. Environmental Protection Agency. “It’s a situation that’s kind of unknown. You don’t know about the impact they’ll have on fuel efficiency.”
Nor is the industry certain about the approach that will be taken to reduce emissions. Some discussions
have focussed on NOx absorbers (ie catalytic converters), while others have focused on diesel fuel with dramatically reduced sulfur levels.
The next question in the mind of OEMs could be whether truck buyers will look to embrace the fuel efficiency of current engine designs, pre-buying equipment prior to the next changes in EPA rules.
“There were a lot of engine sales out of fear,” one executive said of 2002, suggesting that the next generation of engines could face double-digit drops in fuel economy. “By 2007, they’ll be saying, ‘All we know and love is the 2004s.'”
For now, Canada continues to lead the way in sales.
“I would expect the next three years to be pretty strong in the U.S. and Canada,” Kozek says. “The economy is coming up, and interest rates are still pretty low … but I would expect for the rest of the year, Canada’s numbers will continue to have a pretty good gap.”
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The owner of the Charlotte, N.C.-based Dilworth Coffee brand has filed suit against a Charlotte shop that opened earlier this year under the name Dilworth Espresso, alleging federal trademark violations.
Philipp Gerlach opened Dilworth Espresso in July in a former Dilworth Coffee retail location in the Kenilworth Commons shopping plaza while in the midst of talks with Dilworth Coffee owner Don Keen to become a Dilworth retail licensee. The licensing agreement never came to pass, and now Dilworth Coffee is arguing that Gerlach is unfairly using the Dilworth name for financial gain, according to U.S. District Court documents filed in October and recently brought to light by the Charlotte Observer.
The retail site housed Dilworth Coffee’s first store in 1989, and the chain has since expanded to three states, including four locations in Charlotte. Keen is arguing that the Dilworth Espresso signage and other promotional marketing materials are “markedly similar” to Dilworth Coffee’s, and are stealing from the Dilworth Coffee brand equity built up over the past 25 years. A promotional video cited in the lawsuit has since been removed. From the lawsuit:
Dilworth Espresso routinely uses trademarks, service marks, trade names, designs, and/or logos that are confusingly similar to or copies of the Dilworth Coffee Marks. This use is evidenced in signage, print, and electronic promotional materials, including YouTube videos.
Dilworth Coffee filed a cease-and-desist in September, which was denied in writing by Dilworth Espresso, according to the allegations. Keen is seeking injunctive relief and an undisclosed cash amount for revenue generated under the Dilworth Espresso name. The Observer reached Dilworth Espresso owner Gerlach, who says he plans to file a countersuit. He told the paper:
I don’t believe an individual can own the name of a neighborhood.


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WASHINGTON JPMorgan Chase is the first bank to adopt a new, standardized disclosure box for its prepaid cards that was developed by Pew Charitable Trusts.
The effort follows legislation introduced last month by Sen. Mark Warner, D-Va., that would require banks to more clearly detail their prepaid card fees to consumers. Similar disclosures for credit cards are already mandated by law, and Pew has developed a similar form for checking accounts.
"It's important that people have access to prepaid cards as we move into an increasingly digital economy, but consumers deserve basic protections," Warner said in a press release. "I commend Pew for their work on this issue and Chase for being the first prepaid card provider to adopt the disclosure box for their cards, which I proposed making standard for the industry in my legislation."
The Pew disclosure box was released on Wednesday as part of a new study by the nonprofit that examines consumer concerns about unexpected prepaid card fees and the inability to compare fees of competing cards side-by-side. Pew developed the disclosure form after working with focus groups in Baltimore, Md., Denver, Colo., and Austin, Texas, talking to consumers with checking accounts and those without. The box includes a list of fee types and descriptions, along with the amount of each fee.
"The disclosures for most prepaid cards are inconsistent and unclear," said Susan Weinstock, director of Pew's safe checking research, in a press release. "Terms should be plainly stated so that consumers can choose the product that best meets their needs."
The group has worked with more than two dozen banks and credit unions, including JPMorgan Chase, on its related table for checking accounts fees, and the bank is now the first to start using the prepaid disclosure box as well.
"Chase Liquid was built on the premise of being simple and easy to understand, so the Pew disclosure form is perfectly aligned with this product," said Barry Sommers, chief executive of Chase Consumer Bank, in a press release.


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Pick the driver you think will win each week for your chance to win!
Posted on: 8:39 am, December 19, 2012, by Ryan Sullivan, updated on: 12:06pm, December 19, 2012
Ryan Shell, a Triad native, created a fashion blog that features the styles people are wearing in New York City.
On Wednesday morning, he shared some of his latest updates. To check it out for yourself, visit fashables.com.
Watch the Piedmont’s only local evening newscast at 6:30pm!


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Mobile account ownership in Pakistan has witnessed a reasonable increase and crossed the 39 million mark, which was 15 million at the end of 2015.
This increase has significantly been contributed by branchless/mobile banking accounts, and account ownership in the country has increased to 22 per cent from 13 per cent in 2014.
It is important to highlight that since biometric verification of mobile connections in 2015, more than 23.5 million new branchless banking accounts were added in the market.
The rapid and widespread adoption of mobile phones and mobile broadband technology with over 62 million mobile broadband subscribers in Pakistan has not only created a solid base for digital transactions but is also resulting in new and innovative business models that deliver financial services at lower prices and with a broader customer reach.
According to Pakistan Telecommunication Authority (PTA) under the bank-led model, authorized financial institutions, cellular mobile operators and technology firms have improved their financial services and necessary infrastructure by developing user-friendly and real-time solutions.
These players are capitalizing on the technological advancements to bring disruption across distribution channels and product lines.
The financial and telecom regulators have also extended continuous support to the Digital Financial Service (DFS) growth in the country by providing enabling environment through improved policies, laws, and regulations according to changing market dynamics.
The scope of alternate delivery channels and technologies has been expanded to include 3G and 4G spectrum for providing branchless banking services.
The relevant regulations have allowed opening of basic level remote m-wallet accounts to promote usage of financial services among all segments of society.
The State Bank of Pakistan (SBP) has issued 11 branchless banking and three Payment Service Providers licenses to various players. PTA and SBP have already issued the first joint license for interoperability solutions and more are in the process.
The above mentioned DFS ecosystem has provided a reasonable base for uptake of digital financial services in the country.
According to Finance Survey 2015, 23 per cent adult population has access to formal financial institutions compared to only 12 per cent in 2008.
The report further said despite the above-mentioned improvements over the years, we are well short of DFS growth potential available through over 153 million biometrically verified mobile connections across the country.
In order to tap this potential, our DFS ecosystem needs to evolve to a state where consumers and businesses feel comfortable to leave their funds in digital form rather than cash.
The first step towards this direction is the delivery of bulk payments including Government to Person (G2P) and Business to Person (B2P) through mobile wallet accounts. Payments through these wallet accounts should be acceptable and as easy as paying cash at the merchants’ outlets.
However, consumers do not keep their funds in digital wallets and mostly use cash as they do not find utility in keeping their funds digital, due to lack of convenient options to use those funds for day to day transactions.
The government has initiated delivery of Benazir Income Support Programme (BISP) payments through wallet accounts which is the biggest program of poverty alleviation in Pakistan.
Many other G2P payments can be channelized through mobile wallets. Secondly, payments across different channels should be ubiquitous and interoperable for consumers, wherein, anyone can transfer money to anyone through any channel.
In this direction, PTA and SBP have initiated joint licensing for interoperability of digital financial services under the any-to-any model, however, lot more efforts are required to accomplish large scale interoperability.
Thirdly, delivery of additional services including savings, insurances, investments and loans through digital wallets can be an enabler to achieve long term financial inclusion targets and sustainability of the digital financial services in the country.
For the overall success, development of consumers’ trust in digital technologies is crucial and realizing critical role of information technology in the banking industry, the financial and telecom regulators have been pushing financial and telecom industries to upgrade and transform their systems for the digital age.
Various initiatives for the implementation of electronic payment channels in the country have been taken that include the development of strong legal and regulatory framework such as SBP’s branchless banking regulations 2008 (upgraded in 2011 and 2016).


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Back in the 30’s Toyota was a small family business making mechanical looms before Kiichiro Toyoda brought his vision for his father’s company into reality. That vision was a car company that employed a ‘just-in-time’ system which mitigated waste and excess part storage. It kept manufacturing lean and soon every car manufacturer (and other companies like IBM) in the world was following this model. In 2011 a huge earthquake and tsunami hit northeast Japan which caused a semiconductor supplier to go offline for many months, forcing Toyota to shut down production. Toyota adapted their ‘just-in-time’ model to hybridized model where they identified 1,400 ‘essential’ parts of the 25,000+ parts needed to make a car. They went all the way down the supply chain on these and made sure to have adequate stock of those parts and when the pandemic hit they had a 4 months’ supply of semiconductors and didn’t need to slash production.
Rates didn’t move this week after last week’s increase. Mortgage rates are facing pressure from economic reports of inflation and the Fed slowing down their quantitative easing program. Rates are up approximately 1/2% from this time last year.
Jobs – the number of people filing for unemployment remained unchanged from last week at post pandemic lows and near pre-pandemic levels.
New Construction – builder confidence is up 3 points from the previous month to 83 (anything over 50 is a growth market). This is the third consecutive month that builder confidence has increased. Single family starts are down 4% from last month and down 11% year over year. Single Family permits are up 2.7% from the previous month but down 6.3% year over year. This paints a picture for continued lack of supply in the near(ish) future which will support prices.
Inflation – Core Logic released their rent index (from July) showing that single family rents are up 8.5% year over year which is the fastest increase for 16.5 years. Rent growth for detached properties(11.1%) was double that of attached properties (5.4%). The Cass Freight Index showed freight rates are up 1.6% month over month and 36% year over year.
Mortgage Applications to purchases homes were up 2% from the previous week. Year over year purchases are down 6%. Refinances fell 5% from the previous week and are down 31% year over year.


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Campaign hopes to give restaurants boost
Restaurants across Jersey, Macoupin and Greene counties are offering carryout and delivery options for people while dining choices are limited because of pandemic restrictions.
The Alton-headquartered Great Rivers & Routes Tourism Bureau has launched the Carryout Champs campaign to support struggling eateries.
“We want people in our region to become Carryout Champs and support locally owned restaurants in our … region,” said Cory Jobe, president of the tourism bureau. “By continuing to order from our local restaurants, we are helping to keep doors open and people employed.”
Diners are asked to show off their carryout orders by taking a photo of the food, tagging the restaurant and posting the photo on social media using the hashtag #CarryoutChamp.
“It’s more important than ever that we support our local restaurant operators and their employees,” Jobe said. “Small business owners are the backbone of our state’s economy and are a major part of our destination and many have become destination drivers.”


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This week in tax: Amazon’s UK tax bill rises with sales surge
This week US online shopping company Amazon reported its 2020 tax bill had risen after its UK sales surged during the COVID-19 pandemic.
Amazon has paid more than £1.5 billion ($2.08 billion) in UK tax after lockdowns saw demand for deliveries skyrocket in 2020. This includes almost £500 million in direct taxes including corporation tax and stamp duty, and £1.06 billion in indirect taxes such as employee taxes and VAT on sales.
The US company saw its sales rise by 50% to more than £20.6 billion in 2020 from £13.7 billion in 2019. However, Amazon continues to face scrutiny over its tax arrangements.
“As usual the accounts are legally compliant but opaque and lack the crucial information about intra-group transactions which enable the company to shift profits is not there,” said Prem Sikka, Labour peer and emeritus professor of accounting at Sheffield University, in a BBC interview.
“It’s impossible to know what their true economic profit is,” said Sikka. “We need a complete change in accounting regulations which currently increase opacity rather than transparency.”
Nevertheless, Amazon has made a point of publicising the tax payments. “We are proud of the significant economic contribution we are making to the UK economy,” said Amazon in a press statement.
“Looking ahead, we know that the UK remains full of opportunity and we continue to be excited by the potential to continue to invest, create jobs, develop talent and have a positive impact in communities across the country,” said the company.
Amazon stressed its commitment to the UK, including investing more than £32 billion in infrastructure since 2010. The company employs 55,000 people in the UK alone.
The debate on how to best tax online commerce will continue to rage, but the OECD is closing in on an agreement to settle some of the disputes over digital tax.
ITR headlines this week include:
MNEs use shared service centres to bolster digitalisation projects
Multinational enterprises (MNEs) can move global tax and finance teams to a shared service centre (SSC) to aid tax digitalisation projects, according to panellists at ITR’s Asia Tax Forum.
Moving tax teams to an SSC in a low-cost location could help MNEs to improve efficiency and minimise tax risks, according to in-house and advisory tax professionals on a panel at ITR’s Asia Tax Forum. Tax directors are facing increasing requirements from governments as the digital economy grows and tax authorities scrabble to prevent tax avoidance and profit shifting.
“We are getting more and more demands from a statutory perspective, so the tax world is becoming more challenging with the limited resources,” said one tax director at a large MNE.
Panellists said that these demands are linked to tax authorities seeking more data about taxpayers to monitor high-risk cases, through projects such as Australia’s Smarter Data and the UK’s Project Connect.
Luis Carrillo, senior director of tax and transfer pricing solutions at the analytics company Bureau van Dijk, said that there are approximately 20 big data and digitalisation projects ongoing in tax administrations across Europe, Asia, and Latin America.
“Many governments are investing significant amounts of money in basically implementing technology-based solutions that can amalgamate all the different sources of information… and put it into platforms from where they can build tools to better risk assess taxpayers,” said Carrillo.
MNE taxpayers are responding to increasing demands from tax authorities by consolidating tax teams from different countries. Businesses often locate an SSC in low-cost regions, and Eastern Europe and India are particular favourites.
One panellist, a tax director at a large MNE, said that in their experience, migrating tax teams to an SSC has minimised costs and risks while improving efficiency and accuracy.
Tax incentives pave the way for India to become a global manufacturing hub
The Modi government hopes to expand the Indian manufacturing sector and turn the country into a global hub for manufacturing through a range of tax incentives.
The Indian economy has been lagging on the manufacturing front with its contribution to the overall GDP far behind the global average. The Indian government introduced the performance link incentive (PLI) scheme to incentivise the minimum scale of investment and turnover in the manufacturing sector and make them cost-competitive.
A sum of $27 billion was set aside in the Union budget of 2021-22 to provide this incentive for 13 key sectors such as food processing, medical devices, pharmaceuticals etc., for a period of five years.
The scheme comes with strings attached, including a compound annual growth rate (CAGR) target. While these incentives are welcome, industry leaders in certain sectors feel the need for changes to fit the specific needs of certain sectors.
“In the food processing industry, certain product categories like noodles are not eligible for the PLI benefit. This is despite a demand for Indian flavours of noodles in the international market,” said the head of tax at an Indian food processing company.
“Secondly, the scheme carries a CAGR achievement for getting your incentive for that year. Since it's a scheme that's spread over five-six years, CAGR should be considered over a period instead of annually,” said the head of tax at ITR’s Asia Tax Forum.
The PLI scheme is just one part of the government’s fiscal effort to expand the manufacturing sector. The other measures cover the full range of tax policy from transfer pricing to indirect tax.
Next week in ITR
ITR will be looking at the growing importance of tax transparency for attracting investment. Transparency has become a key focus for businesses trying to minimise regulatory and reputational risk, and tax is a particularly contentious area. The days of financial secrecy may be numbered, at least when it comes to tax policy.
ITR will be revisiting Brazil’s tax reform and the future of transfer pricing in the country. Brazil has long been an international outlier with its formulaic system. Yet just as the OECD is moving towards a more formulaic approach to tax, the Brazilian government is pushing in the opposite direction.
The results of ITR’s diversity and inclusion survey will be coming out next week. The forthcoming autumn edition of ITR will include a landmark feature on the state of diversity in the tax profession. This follows on from the 2020 survey on the same topic.
Readers can expect these stories and plenty more next week. Don’t miss out on the key developments. Sign up for a free trial to ITR.


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Google Just Made Its Largest Purchase Of Renewable Energy To Power Its Data Centers
Google has announced that it has made its largest purchase of renewable energy ever, as it progresses towards its commitment to powering its business operations with clean energy by 100 percent. It marks as the most diverse and biggest purchase made by a non-utility company, and it goes to show the search engine giant's seriousness in renewable energy.
The deal will provide an additional 842 megawatts of renewable energy capacity to power up Google's own data centers. Google says that it's nearly doubling the amount of renewable energy it has purchased up to this date in three countries. The company now has up to 2 gigawatts, which equates to taking nearly one million cars off the road.
Most of the renewable energy has been purchased for its locations in the United States, but according to Google, it has added more than 150 megawatts from a wind farm in Sweden to a solar plant in Chile.
Google's commitment to renewable energy also greatly contributes to giant energy companies such as EDF, Duke and RES (Renewable Energy Systems) Americas as it helps the finances to continue building further facilities.
According to Google, the long-term contracts range from 10 to 20 years and deliver projects with the financial assurance and scale that are required to build the wind and solar facilities to bring new renewable energy onto the grid. For Google's part, the deals that it has made do not only help minimize the environmental impact of its services but they also make sense, in a business standpoint, by ensuring that the prices are good.
Aside from Google, Apple and Microsoft are also big on their push for green energy. Recently, Cupertino has invested in solar farms as of late, and Redmond has purchased wind energy. Amazon is also committed to running its cloud-based AWS, a web service that runs entirely on renewable energy.
HTC Will Build Another Flagship Phone, Even After Billion-Dollar Deal with Google
HTC is showing signs of revival with the announcement of $1.1 billion smartphone business deal with Google.
Google Replacing Defective Nexus 6Ps with Pixel XL for Free
Owners of defective Nexus 6P units in the US and Canada are now receiving Google Pixel XL as free replacement.
Google Pixel Users on Oreo Complain of Unexpected Mobile Data Shutdown
Google has acknowledged mobile data issues with Pixels running on Oreo update via its official product forums.
Google Announces Permanent Shut Down of Drive App for PC and Mac
Google Drive app gets its end of support date for December 11 and the end of life date for March 12, 2018.
Android O Launching Today As "Android Oreo," Suggests Leaked Image: How to Watch Livestream
Google is all set to release its next mobile operating system aka Android O today.
MORE IN ITECHPOST
Foolproof Ways to Get New Customers for Your Small Business
Growing your small business is all about attracting a steady stream of customers. Whether you run an e-commerce site or a coffee shop, the right lead generation techniques will keep you on your feet. However, customer acquisition can feel overwhelming when you're first starting out.
How Do Personal Emergency Response Systems Work?
Personal emergency response systems, known as PERS for short, are systems that help people to raise the alarm and get immediate help when a medical or personal emergency occurs. They are ideal for older people and anyone with a mobility issue or an injury or illness that can cause falls.
The 9 Most Popular (And Fun) Internet Games of 2019
Are you bored of board games? What are the most popular internet games from this year? These nine are popular for a reason. Check 'em out!
Why your Company Needs a Comprehensive ERP Solution Like Microsoft Dynamics 365 Business Central
Statista predicts that the whole ERP market's revenue will exceed $85 million in 2021. By that time, resource planning systems will be used by both SMEs and large businesses. Moreover, even today, it's pretty difficult to find a firm without at least basic ERP products that help to plan, organize, automate, and improve ongoing processes.


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You Searched For "Ship4wd"
21 Jun 2023 12:50 PM GMT
ZIM customers will be able to defer payment for freight charges for maximum period of 90 days from invoice date
7 Oct 2021 11:33 AM GMT
Israeli carrier ZIM announced the launch of Ship4wd, a digital freight forwarding platform to offer end-to-end shipping solutions. Ship4wd will start...


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Valeritas (NSDQ:VLRX) said today that it signed an exclusive distribution deal with Julphar for the commercialization of its V-Go wearable insulin delivery device in the member states of the Gulf Cooperation Council.
Valeritas has deals in place to bring its V-Go device to 14 countries and territories, including Australia, Slovenia and Puerto Rico. The company is also working to win regulatory approval for the product in China.
Registration is open for DeviceTalks Boston! Join us on June 5-6, 2019, as we explore the trends and technology that are shaping the future of the medical device industry.


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PARIS, Oct 16 (Reuters) - French ad group Publicis
, which is merging with U.S. peer Omnicom Group
, stuck to its target for higher full-year organic sales
growth on Wednesday despite a slowdown in the third quarter on
weaker emerging markets.
Publicis said it expected a further improvement in growth
next year following the expected completion of the merger in the
first quarter of 2014, underpinned by demand in the United
States and expansion in digital advertising.
"Caution is required particularly since the global economic
situation has come under the threat of government shutdown in
the U.S.," Chief Executive Maurice Levy said. "We are
nonetheless confident about 2013."
Publicis and Omnicom unveiled plans in July to combine to
create the world's biggest advertising group, worth $35.1
billion, in what they presented as a "merger of equals".


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Sony Xperia S Leaked Photos Circulate the Web
After last night’s post on SmarTags app for the Sony Xperia S, we have even more exciting news for those waiting for the device (myself included). A few leaked photos of the device have been found by an Italian blog called Android HD blog. Sitting beside it is its smaller sibling, the Xperia U; which was previously called the Sony Kumquat. Compared with the Xperia S, the Xperia U still bears the name ‘Sony Ericsson.’ By now, you probably know that Sony Ericsson is no longer a unified brand. These devices are only called Sony now. Perhaps, Sony still plans to change it?
Anyway, we’re pretty excited to see more information or even leaked photos of the Xperia S alone and without its little bro. Maybe we’ll finally see that at the Mobile World Congress this weekend? What do you think?


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There are proven benefits to spending time by yourself. Learn to give yourself a time-out that feels like a restorative treat, not a punishment.
IF YOU’RE ONE OF THE RARE PEOPLE who like spending time by themselves, enjoy this article as validation of your natural instincts. If, on the other hand, you’re among those who would rather endure physical pain than spend time alone with your thoughts (true story: in a 2014 study published in Science, many of the participants preferred to give themselves electric shocks rather than spend 6 to 15 minutes by themselves with nothing to do), we’d like to change your mind about solitude.
People who value their alone time are often accused of being antisocial, aloof, or just plain weird. But recent research has uncovered positive benefits of solo time. “Studies show people feel rejuvenated when they are alone,” says Julie Bowker, PhD, an associate professor of psychology at the University at Buffalo in New York whose 2017 study revealed that unsociability— defined as deliberately withdrawing from social situations and choosing to be alone—was linked to an increase in creativity.
And those aren’t the only benefits of alone time, says Jack Fong, PhD, a professor of sociology at California State Polytechnic University, Pomona, who has studied solitude. “Today people feel overloaded being connected to the grid, and they’ve lost their ability to engage with the self,” he explains. “When you’re alone, you regain your center of gravity. You’re forced to confront yourself and get to know who you really are.” The payoff? “Solitude builds self-esteem, clarity, and empathy.”
Frame Your Mindset
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The Royal Mint of the United Kingdom has recently announced the release of their new 2023 Silver and Gold Britannia Coins, featuring the image of King Charles III. These coins are set to be highly sought after by collectors and investors alike, as they mark a significant moment in British history.
Both the American Gold Eagle and American Silver Eagle coins were released in 1986, intending to be competitive bullion coins against other mints in the world. However, they ended up becoming much more than that.
Chances are if you are reading this, you are interested in investments concerning numismatics and bullion. Typically, people tend to invest in either gold or silver. But what about Platinum, or the even lesser considered palladium? If we look at the percentage gains and losses for gold, silver, and palladium for the last 5 years, the results are interesting. Palladium is up 43.63% while gold is down 22.47%, and silver, 46.51%.
Even in the past 12 months, palladium is up 36.70% while gold is 0.55 percent, and silver was down 7.94%.
Recently, the U.S. made a palladium bullion coin listed above. This is what allows investors to feel more comfortable when dealing with precious metals other than gold and silver.
In an effort to shine a light on American workers and companies that make and sell their products in America, President Trump has dubbed this week, "Made in America", week. Essentially, this week is the beginning of introducing a new "Made in America" label. This label will be available to all domestic manufacturers who can prove that all of their product is made in America.


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In April 2022, India’s proposed cryptocurrency and NFT tax will kick in, and as the world prepares for this development, what do investors and holders need to know?
Crypto Regulations: The way forward
The majority of governments worldwide are yet, to fully legalize or accept crypto and related technologies. In most cases, holders and enthusiasts can only hope that regulators do not pass draconian laws soon.
One major misconception about Crypto regulations is that retail holders, enthusiasts, and investors are against the development of cryptocurrency regulations. Unfortunately, this couldn’t be farther from the truth; most enthusiasts are open to regulations from governments as long as these regulations are reasonable.
The primary problem for most governments is that some bad actors have used cryptocurrencies in the past to steal money, evade taxes, launder money, and more. The amount of crypto-related transactions used to finance harmful activities is a small subset of the crypto community. Most crypto-enthusiasts will welcome realistic and reasonable regulations that’ll help curtail the scourge of bad actors in the space.
A slew of countries introduced cryptocurrency regulations over the last few months. Some have been detrimental to the acceptance and growth of cryptocurrencies. Countries like El Salvador and a few others have introduced rules to help develop their economies and improve the standard of living for their citizens.
Today, we’ll go over India’s cryptocurrency tax and what investors in the country can expect once it comes into effect in April 2022.
India’s Cryptocurrency and NFT Tax
For Crypto and Web3 investors in India, from April, all cryptocurrency gains will be taxed at 30%, which is India’s highest tax bracket. The 30% cryptocurrency gains tax will apply to all “virtual digital assets,” including NFTs, cryptocurrencies, and related gains.
The proposed taxing plan by Indian regulators is a stark contrast to other related income classes such as stock trading. In India, stock trading gains are taxed at 0% if filed as a business income and up to 15% if filed as a short-term capital gain.
The 30% proposed tax for investors in India will see them taxed in the same bracket as lottery winners. There are many other provisions crypto holders in India will need to be aware of to stay within the laws. The Cryptocurrency taxing system in India is far from perfect, but it’s a step in the right direction, and hopefully, things improve as time progresses.
How important of a Market in India?
India is one of the important cryptocurrency markets, with almost ten million unique cryptocurrencies and NFT holders. Traders in the country facilitated over $100 billion in cryptocurrency trading volume in 2021.
One good thing about India’s cryptocurrency law is that users only pay taxes when they sell their crypto assets. If a user buys $1,000 worth of Bitcoin, and it increases in value to $1,250, the user will not be required to pay tax on the increased value until they “realize” gains by selling their Bitcoin.


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CFDA+ Goes Global.
The Council of Fashion Designers of America extends its CFDA+ program. Created in 2013, CFDA+ was formed to recognize the best of the recent graduates from the leading fashion design programs in the United States in order to create a vetted pool of outstanding emerging talent for the Fashion Industry to look to when making new hires.
This year, the program expanded to include top-ranked international fashion schools. The Council received over 400 submissions, from 51 schools around the world. Of the 71 grauates awarded CFDA+ status in 2014, 41 attended international schools, and 31 were from US- based schools.
CFDA+ applicants undergo a rigorous portfolio assessment and a virtual interview process and are chosen by a group of industry experts, announced the institution.
“The CFDA+ program was born from our designers’ need to hire the top talent in order to remain leaders in this industry,” says Diane von Furstenberg, President of the Council of Fashion Designers of America. “The global expansion of CFDA+ allows us to recognize an even greater group of promising emerging professionals who have the diverse specializations and skill sets which are desired by the CFDA Members. The CFDA wants to play a part in bringing this talent to the American fashion industry.”
To showcase the work of the CFDA+ recipients, CFDA partnered with Arts Thread, the launchpad for new creatives and the world’s leading network for new designers, to host all CFDA+ portfolios.
The Council of Fashion Designers of America is a not-for-profit trade association whose membership consists of more than 400 of America’s foremost womenswear, menswear, jewelry and accessory designers.


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NEW YORK (AdAge.com) -- The Hilfigers, a fictional family oozing Americana, has been awfully busy as of late, as has Avery Baker, exec VP-global marketing and communications at Tommy Hilfiger.
Members of the Hilfiger clan, along with Ms. Baker, were just in Paris for the opening of the lifestyle brand's largest store in France. Globally, the company counts some 1,000 stores and brings in $2.25 billion in annual revenues. Meanwhile, a branded TV spot -- the company's first since 2005 -- began airing in the U.S. It features a chaotic Hilfiger family picnic, in celebration of the holidays. The Hilfigers, introduced earlier this fall in a print campaign, have also made appearances in New York, attending Fashion Week and the U.S. Open, as well as Tokyo where the brand recently celebrated its 25th anniversary.
"It's become a really fun part of the campaign, a great layer of guerrilla marketing," Ms. Baker, back in Amsterdam, where the brand's European headquarters are located, said of the Hilfigers' appearances. "We've found that wherever they go people are just so drawn to them."
The characters' appeal is a big part of the reason why the brand, in order to run TV spots, boosted its second-half ad budget by 60%. According to Kantar, Tommy Hilfiger spent $10 million on measured media during the second half of last year. The campaign, created by Laird & Partners, is slated to run in the U.S. through Dec. 5.
"We really felt this campaign would come to life through [TV], because of the sense of the characters and the sense of narrative," Ms. Baker explained. "We really feel that this campaign defines the Tommy Hilfiger brand today."
Ad Age spoke with Ms. Baker about why now was the right time to drive home a message of "classic American cool" with a new campaign.
Ad Age: This is the brand's first major foray into TV in years. Why now?
Ms. Baker: The brand and the company are in a really interesting position right now. There's a lot of positive momentum behind the brand. The business has been performing extremely well. We felt it would be the right time to act on that momentum and bring this campaign to a much wider audience, as you can only really do with television.
Ad Age: What other media channels are you tapping into?
Ms. Baker: Print is the backbone of our plans on an ongoing basis, but in addition, we've really stepped up our activity in the digital space. We think the combination of that with TV is essential. The two really need to work in tandem. Already, for example, on Facebook, on Twitter, on our own site, the Hilfigers have been engaging with fans on a frequent basis. We actually saw in one month our fan base grow by 25% on Facebook, once we started to feature these family members as an active part of the brand experience. We think the more we can push this campaign out in traditional media, the more we can pull consumers in to engage with the family and with the brand in social media and the digital world.
Ad Age: This year's ad budget was increased significantly for this campaign. How will you determine whether that investment is paying off?
Ms. Baker: Because it's a branding spot, we think the repercussions will probably be longer term and maybe not as immediately obvious on the sales floor. We've been really, in the last several years, fine tuning the message of the brand to consumers. If this can continue to really drive home the image of Tommy -- classic American cool but with that very preppy point of view -- we'll be really pleased with that.
Ad Age: In the U.S., Tommy Hilfiger is exclusive to Macy's. So, why does it make sense to do a brand spot? And is Macy's footing part of the bill?
Ms. Baker: No, [Macy's is not]. This is a brand initiative. ... Of course Tommy is featured personally in Macy's spots. But what we feel this campaign does is communicate the total Tommy brand position and lifestyle in a way that Macy's spots wouldn't do. That wouldn't be the main objective for the Macy's spots. We think Macy's will definitely benefit from this campaign, as an overall brand message for Tommy, and it will also, of course, benefit our own retail stores and website.
Ad Age: What brands are you watching right now or looking to for inspiration?
Ms. Baker: The unbelievable success of something like the Old Spice campaign and what that character was able to become. We never set out for the Hilfigers to become that, but it's interesting to see, as a device, how appealing that can be for consumers. It's also interesting; when we were discussing whether or not to go down the road of television, we looked at brands like Apple, which is arguably one of the most innovative brands out there, and even they use TV. So, everyone can say television is a dying medium and everyone should be online, but I think the brands that are having the most effective reach right now are really doing both.


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SHOPEE has introduced the Queen of All Media, Kris Aquino, as its new brand ambassador for Shopee 11.11-12.12 Big Christmas Sale – the festive season with weeks full of exciting in-app games, a star-studded TV special, and tons of amazing deals and promos.
Shoppers can look forward to big discounts from leading brands until December 12. They can also enjoy free shipping with zero minimum spend, daily 20 percent coins cashback on best treats like a Xiaomi 32-inch LED TV, a Dyson Cyclone Cordless Vacuum Cleaner, and Christmas baubles such as decorative ornaments and village nativity sets.
Consumers can expect one-peso deals on selected items from various categories such as beauty, fashion, mobile, and stationery products, plus get up to 70 percent off on 11.11’s leading brands.
“Christmas is the biggest holiday in the Philippines, and we are excited to kickstart the celebrations with Kris Aquino as our new brand ambassador,” Martin Yu, Shopee Philippines associate director, said at the virtual event.
Shopee has been working to reach its long-term vision to bring e-commerce to everyone, Yu said, adding the company wants to connect with Filipino users on a deeper level and share the benefits of e-commerce to them this Christmas season.
As the new brand ambassador, Aquino will participate in a range of initiatives for the big Christmas sale: her highly anticipated on-screen appearances on TV and Shopee Live; engaging shoppers with her Tiktok videos on Shopee’s official account; mini-games on Facebook, Instagram, and Twitter where users could win Shopee vouchers; and Shopee themed Aquino stickers on Instagram.
Aquino also teams up with Shopee as the face of “Shopee Bayanihan: Pamaskong Pambata” to help raise funds to support the Filipino youth’s health, education, and welfare through a digital charity sale, special live streams with leading brands, and user donations through the Shopee app.
Partner organizations include PGH Medical Foundation, GMA Kapuso Foundation, FundLife, World Vision Philippines, Ronald McDonald House Charities, Mano Amiga, Young Focus Philippines, Save the Children, Project Pearls, Project SMILE, and Kythe Foundation.
The e-commerce platform further commits to uplifting communities, generating new opportunities for sellers and brands, and designing stronger shared experiences for shoppers this big Christmas sale – all as part of its broader vision to make e-commerce for everyone.
It will strengthen its efforts to ensure that everyone can discover the benefits and opportunities of e-commerce, Yu said.
Fortunate to be at the forefront of this transformation in the region, Shopee will continue creating livelihoods for local sellers and entrepreneurs, ways for people to shop and connect, and new paths to success for businesses, he added.


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It seems pretty certain that the coronavirus pandemic will cause a recession in the United States and globally. It's a little too soon to know whether the economic fallout will expose the flaws in Silicon Valley's growth-at-all-costs and debt-binging funding models. If such a reckoning takes place, then the hype-driven field of synthetic biology is in a pretty poor position.
Take Amyris (AMRS) as an example. It issued full-year 2019 operating results last week that spooked investors. It's impossible to tease out exactly how much of the tumble was due to macro concerns, and how much was due to company-specific anxieties, but investors don't seem to be running into the plunging small-cap stock.
When the company issued an update in an attempt to clarify the latest results and add more detail, it didn't quite help. Again, the broader market is falling, but Amyris still hasn't published the numbers investors actually need to see.
Manufacturing renewable products (and losses)
Amyris is an industrial biotech company combining robots, machine learning, and an army of smart scientists to engineer microbes capable of spitting out renewable chemicals. Synthetic biology is a promising approach to designing and manufacturing materials, but for all of the cool science and potential, there's simply not been much progress in turning any of it into sustainable business.
In 2019, the business reported an operating loss of $122 million, and spent $1.27 to generate every $1 in product revenue. It ended the year with a book value (the net value of all assets and liabilities) of negative $255 million. Amyris reported a cumulative operating loss of $980 million from 2012 to 2019.
The company has been able to keep the lights on through a series of dilutive transactions, asset divestitures, hyped up marketing from friendly conference platforms, and simply maintaining a pulse during the greatest economic expansion in American history. Investors gave a lot of unsustainable businesses the benefit of the doubt during that time. Why not?
The answer is moot at this point. Given the threat of a global recession, investors might not be willing to take on such risks. Corporate America is drowning in debt, partly because debt has been historically cheap in recent years and partly because everyone thought it was a good idea to spend trillions of dollars on share buybacks.
Amyris has told investors that it can survive any coming downturn, but investors need to consider all possible outcomes, especially the ones where Amyris is a relatively low priority for a fiscal rescue. Unfortunately, investors don't have all the information they need -- even after the latest update this week.
The latest update didn't go far enough
When Amyris reported full-year 2019 operating results, it didn't separate out the performance of its consumer brands. They have the highest potential to generate gross profit and thrust the business onto sustainable footing, but that doesn't appear to be happening. The business reported a product gross margin of negative 27.3% last year.
The company attempted to assuage nervous investors with its latest update. To be blunt, it wasn't enough. Amyris still hasn't provided detailed GAAP revenue and gross profit for its consumer brands.
- CEO John Melo stated, "Our product gross margin for existing products was 36% in the fourth quarter of 2019, which was an improvement from 3% in the first quarter of 2019." Investors can't be sure what that means. Amyris reported product gross margin of negative 43% and negative 23%, respectively, in the first quarter and fourth quarter of 2019. Simply put, the company is relying too much on adjustments and adjectives.
- Amyris said its direct-to-consumer business is expected to generate $100 million in retail sales (a meaningless metric for investors) and $60 million in revenue (investors should focus on this metric) in 2020. If the company achieves its projected 66% gross margin for its consumer brands, then that would be excellent news for investors. It really could be what investors have been waiting years to realize. But, as noted above, investors can't be sure how the company is arriving at those figures.
- Amyris reminded investors that the exercise of warrants earlier this year resulted in $57 million in proceeds to its balance sheet, which provides a cushion compared to the $270,000 in cash reported at the end of 2019.
- The business says the exercise of additional warrants could allow it to raise an additional $100 million in the short-term, but those transactions would dilute shareholders by 34%. Investors weren't exactly reassured by that statement.
- Amyris maintained that it has enough inventory to weather a manufacturing shutdown for the entire second quarter or longer. It's not clear investors are worried about inventory during the coronavirus pandemic, but the second and third order effects from the global health crisis.
Amyris might say it doesn't want to provide detailed performance metrics for its consumer brands for competitive reasons, but that might be unacceptable for investors.
Solazyme proved the importance of pursuing consumer brands in the middle of the last decade. The company issued detailed revenue and gross profit metrics for its algae-based cosmetic brand, Algenist, which hit $25 million in revenue at a 67% gross margin in 2014. It, too, had deeply committed partners with big bank accounts and reputable shareholders. It won a couple of high-profile industry awards. It even pioneered the animal-free protein market before it was cool.
Unfortunately, Solazyme went bankrupt when operating losses piled up and an expensive manufacturing facility in Brazil encountered too many setbacks. Amyris managed to pivot away from similar problems, but investors are keenly aware the business remains in a precarious position.
One more time, with feeling
It would be a little easier to extend the benefit of the doubt to Amyris if management had done a better job earning the trust of investors in recent years. At various times in the last decade the company's main focus shifted from malaria treatments to renewable transportation fuels, polymers, lubricants, solvents, direct-to-consumer hand cleaners, and pharmaceutical ingredients. Amyris overpromised and underdelivered each and every time. None of those products are in active development today.
Amyris is now focused on small-scale volumes of flavor and fragrance molecules, a non-zero sweetener ingredient, cannabinoids, and a promising portfolio of direct-to-consumer personal care brands. If the right mix of those products finds market success, then this time really could be different for the company and its shareholders. Unfortunately, that's also true for the company's ability to successfully walk another financial tightrope during a global recession.
In a bid to gain the trust of investors, management can adopt straight talk and present GAAP revenue and GAAP product gross margin, not year over year percentages from shifting bases, for its consumer brands. If the company's portfolio of products is growing as suggested by adjusted numbers, then what does Amyris have to lose?


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For the first time in 130 years, the us supreme court heard hear oral arguments in a design patent case -- apple v samsung. Above the law in your inbox subscribe and get breaking news, commentary, and opinions on law firms, lawyers, law schools, lawsuits when it came to sanctions for discovery violations in the apple v samsung case, this judge was all about pinching pennies. That apple vs samsung patent fight you totally forgot about is still a thing after being handed a terrible verdict a few years ago for copying the iphone, samsung somehow managed to shrink the fine from over $1 billion down to $400 million, and win a retrial. The supreme court said monday that it will take up a lengthy patent battle between apple and rival smartphone maker samsung a case that could help determine just how much the total damages awarded to apple in the case could lead to a new wave of patent trolling focused on design. Being done in connection with this case, at the time the opinion is issued 2 samsung electronics co v apple inc opinion of the court i a the federal patent laws have long permitted those who invent designs for manufactured articles to patent their.
The verdict in the high-stakes patent infringement lawsuit between apple and samsung is in the jury's decision samsung did infringe d'087 patent -- and a host of others huh here's the jargon- and legalese-free guide to what you need to know about the billion-dollar case that's. Court will reduce apple's $930 million win in samsung patent case. What was this trial about for the latest case, apple filed suit against samsung on february 8, 2012, accusing it of infringing several patents. Apple vs samsung: the $2 billion case case solution,apple vs samsung: the $2 billion case case analysis, apple vs samsung: the $2 billion case case study solution, apple inc sued samsung electronics for approximately $2 billion, claiming that samsung trespassed some of its patents by. United states district court, northern district of california phyllis j hamilton, chief judge apple inc v samsung electronics ltd inc selected case documents (c 11-1846) 2015 case management order (pdf, 114 kb) 3272.
Samsung and apple settle for $548 million 3 years after jury awarded apple $1 billion. Closing arguments start today in apple's epic lawsuit with samsung over smartphone patents at stake: ownership of key elements of smartphone technology, plus dominance of the $330 billion a year market for smartphones worldwide. Apple inc won a court ruling that may force samsung electronics co to stop using some features in its older-model galaxy smartphones and tablets and gives the iphone maker a leg up in the four-year-old dispute.
Samsung wins supreme court fight with apple the acrimonious battle over smartphone designs threatened to upend the tech industry post to facebook the supreme court ruled in a design patent infringement case pitting the world's top two smartphone makers, apple and samsung. The apple v samsung patent battle has taken a serpentine path apple vs samsung scorecard by julianne pepitone @ and recently denied apple's bid to add samsung's galaxy 4 phone to the case winner: we'll see the second apple vs samsung is slated to go to trial in march. The war between apple and samsung finally has a resolution sort of apple has been battling the south korean company since 2011, the year after samsung released a new set of galaxy smartphones apple believed samsung had infringed on the patent of its iconic iphone by using a similarly shaped. Apple sued samsung for copying design features of its devices, including, among other things, its colorful grid of app icons. Who really lost the apple vs samsung case you did the patent verdict is great news for microsoft, nokia, and research in motion but bad news for telecoms and you by matthew yglesias an apple iphone 4s, left, and a samsung galaxy s3, right.
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Apple v samsung supreme court won't hear apple v samsung round two after supreme court detour, apple v samsung goes to a fourth jury trial supreme court may reel in apple v. Samsung asks the us supreme court to hear the apple v samsung design case samsung samsung is escalating this case because it believes that the and for the latest news, feature articles and press material, please visit the samsung newsroom at newssamsungcom media contact. Apple inc lost an appeals court ruling friday that means samsung electronics co won't have to pay it $1196 million over patents for smartphone features. The great smartphone war and once it's caught it launches into the same sort of tactics used in the apple case: countersue, delay, lose, delay, appeal, and then a legal team representing apple was in seoul to take depositions in the samsung case, and they read about the standoff.
Patent disputes, such as the apple-samsung litigation, could be resolved effectively and more efficiently through international arbitration. The biggest patent case to hit the modern tech world is back again apple and samsung will appear before the us supreme court on tuesday to argue why their opponent was wrong when it came to a patent case from 2012 this is the first time a design patent case has been examined by the. Apple vs samsung case this case study apple vs samsung case and other 63,000+ term papers, college essay examples and free essays are available now on reviewessayscom.


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Catering to the new realities of the Expo 2020: Sotheby's International Realty opens up in Dubai
Sotheby’s International Realty, a luxury real estate brokerage agency, is setting up an office in Dubai, entering the market at the right time to catch up with the growing potential of the emirate’s realty sector, said Billy Rautenbach, the company’s managing director in Dubai.
“Dubai is seeing stimulated regional and foreign investment, so this is a perfect time for a prestigious brand to enter the market,” she said according to an article in Gulf News.
“The opening of the first Sotheby’s International Realty office in Dubai is an auspicious event for the Dubai real estate market, filling a requirement that has gone largely unattended.”
In the month since starting its operations, the company finalized three deals worth Dh25 million (USD $6.81 million). They said they expect to have a large number of transactions driven by the recent growth in the realty market, which has boomed over the past year.
Sotheby’s global sales value estimated at $40 billion while 17 per cent comes from the GCC region.
Rautenbach said the company has brought in a high-profile team of executives.
Expecting high returns from the realty market in Dubai, Eric Roche, Director of International Sales and Development of Sotheby’s International Realty, said that they receive daily enquiries about UAE and Dubai market.
“Today, Dubai real estate market is a very stable and growing market with high standard of services and facilitation, and Sotheby’s International realty brand’s reputation as the world’s premium luxury property marketer is a perfect fit for this region,” he added.
Roche also remarked that Emiratis are among their top clients in London and South France.
“Emiratis are knowledgeable buyers who are looking for good quality products,” he added.
- The UAE may no longer be a dry desert, but it certainly is dry on liquidity
- Looking for inspiration? Top ten interior design trends in the Middle East
- Dream or nightmare: how exactly will Dubai's economic landscape look by 2020?
- Another red flag: a massive housing shortage potentially awaits the GCC
- Changing the landscape: why exactly are Arab investors buying property in London?
- Luxury realtor Sotheby's set to come to this GCC city by end of Nov
- Sotheby’s International Realty® Master Franchise awarded to premier luxury property developer in Dubai and the United Arab Emirates
- Dubai's Pegasus realty to invest $15m in India
- Pegasus Realty to launch new real estate fund
- Pegasus Realty launches real estate project in Malaysia


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Tea for 200
Puffs of steam waft from Shalani Sridhar’s cup as she explains in between sips how her extensive tea collection has grown into a full-scale wall over the years. It’s both a reminder of her native Sri Lanka — one of the world’s largest producers of the beverage — as well as a testament to the hot drink she loves most.
Her adoration of tea coupled with the desire to make new friends led her to the Concordia University Tea Enthusiast Association, a crew of more than 200 pekoe-praising students who playfully refer to each other as CUTEAs.
“It’s about building social interaction and a sense of community,” says Shai Marshall, who co-founded the club last year, as he pours a cup of German vanilla crème tea from a glass vat. “It’s so much more than just a drink, it has such a rich history.”
“There are so many flavours, so many health benefits too,” adds Sridhar, one of the club’s newest members.
Steeped in history
As diverse — an estimated 1,500 types — as it is storied, tea traces its origins back thousands of years to a moment of divine intervention.
Chinese emperor Shennong was boiling some water under a camellia tree when a few leaves blew into his cup.
Fast forward 4,752 years and the accidental discovery is now the world’s most widely consumed drink after water, and can be found in virtually every corner of the globe.
“It’s a very simple thing — a couple of leaves in boiling water — but it has a vibe,” says Marshall. “Tea is about stopping and pausing whereas coffee is about getting up and going. As tea steeps you relax for a moment, reflect and talk about things.”
Tea vs. coffee
Marshall admits he wasn’t always a tea aficionado. Once a java addict, he says coffee’s feel is different, frenetic and tense, citing the advent of drive-throughs as evidence of its on-the-go culture.
“Tea gives you a more subtle, calm energy, and you don’t crash like you do with coffee. I definitely think more students should make the switch from coffee to tea, especially around midterms.”
While Marshall might be biased, he’s not wrong. Popular research supports his contention that tea offers a low-key energy.
That’s because tea is a mental stimulant that also tranquilizes. Its effect on the brain is due to a combination of psychoactive properties found in the leaves of the Camellia sinensis shrub, from which all tea is made.
The leaves contain caffeine, which stimulates the central nervous system, improving mental performance by sharpening concentration, attention and alertness.
However, unlike coffee, tea offers a longer-lasting high without triggering an intense energy slump afterwards. This is thanks in part to theanine, an amino acid almost exclusive to tea. Theanine increases the brain’s generation of alpha waves and gamma-aminobutyric acid, both of which are associated with deep relaxation, sensations of pleasure and mental clarity.
So the same sip can perk you up and calm you down.
The ritual of tea
Gabriella Szabo, health promotion specialist at Concordia, says one of the most important health benefits of tea might be its meditative qualities, which can be especially good for stress-addled students.
“In many cultures when people embrace each other they offer tea,” says Szabo. “Through it, people peel themselves away from their busy lives by consciously making something to comfort and soothe themselves, or to show warmth and kindness to the people they care about. We need more of these rituals in our lives, in which we intentionally recover.”
Founding member Frances Zsurka says she hopes to see the Concordia University Tea Enthusiast Association become the go-to place for new students who — like herself when she first came to Concordia — don’t yet have many friends at the university.
“It’s a club for people to hang out, have discussions and make friends with all sorts of people from other nationalities, hobbies and majors.”
“Tea is love, tea is life,” Sridhar says, cup in hand.
8 top picks from CUTEAs
Hong Kong milk tea is brewed in a large tea sock. Smooth and creamy in texture, it can be made with condensed milk for extra sweetness. Cocobun at the Guy metro exit downtown sells cups for $2.
Lapsang souchong is a black tea from the Fujian province of China, renowned for its smoky aroma, due its leaves being dried over pinewood fires. You can pick up 50 milligrams for $6 at CAESARSTEA on Ste-Catherine Street West.
Yuanyang, also known as coffee milk tea, is a popular beverage in Hong Kong. Three parts coffee and seven parts Hong Kong–style milk tea, this is a good option for those who need a jolt of caffeine. You can find this drink in Chinatown.
Grass jelly roasted milk tea, a liquid dessert commonly found in China, Taiwan and Southeast Asia, is a blend of tea with milk and grass jelly. You can pick one up for $4.20 at Chatime, which has three stores in Montreal.
Vanilla and pear is a white tea that can be bought online at Ariel Tea or at its headquarters, 290 Port-Royal Street West — a 10-minute walk from Sauvé metro station.
Assam and Keemun are good black tea options for purists who enjoy a full-bodied cup. They are available at uptontea.com, which also carries foil bags that are excellent for storage.
BONUS: Here’s a do-it-yourself masala chai recipe, though note that "bay leaf" refers to Indian bay leaf (a plant that tastes like cinnamon).
Find out more about how become a member of the Concordia University Tea Enthusiast Association (CUTEA).


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The Competition & Markets Authority is investigating whether airlines have breached consumers’ legal rights by failing to offer cash refunds for flights they could not lawfully take.
The move comes as part of ongoing work by the authority in relation to holiday refunds during the Covid-19 pandemic.
The investigation will consider situations where airlines continued to operate flights despite people being unable lawfully to travel for non-essential purposes in the UK or abroad, for example during the second lockdown in England in November.
Andrea Coscelli, chief executive of the CMA, said: “We will be carefully analysing all the evidence to see whether any airlines breached consumers’ legal rights by refusing people cash refunds for flights they could not lawfully take.
“We recognise the continued pressure that businesses are currently facing, but they have a responsibility to treat consumers fairly and abide by their legal obligations.”
The CMA said it was aware that, in some cases where flights were not cancelled, customers were not offered refunds even though they could not lawfully travel.
Instead, many were offered the option to rebook or to receive a voucher.
The body added that it recognises that the airlines sector, like many others, is under strain due to the pandemic.
However, it is concerned that certain airlines may have breached consumers’ legal rights by failing to offer cash refunds, leaving people unfairly out of pocket, and has therefore opened an investigation to examine the matter further.
The CMA will be working closely with the UK Civil Aviation Authority as it progresses its investigation.
While the Civil Aviation Authority (CAA) leads on consumer protection in the airline sector, the CMA has undertaken extensive action in connection with cancellations and refunds during the pandemic and is well placed to support the CAA on these issues.
The CMA and the CAA continue to work closely and share the same enforcement powers to tackle breaches of consumer protection law.
The CMA will now be writing to a number of airlines requiring information to understand more about their approaches to refunds for consumers prevented from flying by lockdown.
Following a careful analysis of this evidence, the organisation said it would then will decide whether to launch enforcement action against individual airlines.