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The International Energy Agency (IEA) reports that the current state of global affairs means that it is not certain that electric vehicles will continue to be cheaper in the near future.
Its most up-to-date 2022 Global EV Outlook report states that prices of commonly used raw materials in batteries such as cobalt, lithium and nickel have risen. Batteries are the most expensive part of the EV, so the price increase is a natural conclusion.
For example, in May 2022, lithium prices were seven times higher than at the beginning of 2021. The “unprecedented” demand for EV batteries and the lack of structural investment in new supply capacity have been cited due to the increase in global sales. As the driving reason.
Russia’s aggression in Ukraine has caused further controversy as Russia supplies about 20 percent of the world’s ‘high-purity’ nickel.
“The rapid increase in EV sales during the epidemic has tested the resilience of the battery supply chain and exacerbated Russia’s war challenge in Ukraine,” the report said.
So while battery prices fell 6.0 percent to 13 US132 per kilowatt-hour in 2021, which is listed as a slower drop than the 13.0 percent drop recorded the previous year, there is no guarantee that this cost reduction will continue until 2022.
In fact, the company says that if metal prices in 2022 are as high as in the first quarter, battery packs will be about 15 percent more expensive than in 2021, “all the rest being equal.”
“However, the relative competitiveness of EVs is not affected by the current oil price environment,” the report added. Little comfort!
Against some backdrop of market conditions, global sales of EVs doubled to 6.6 million vehicles by 2021, equivalent to about 10 percent of total new-car sales worldwide.
Global sales of electric vehicles grew strongly in 2022, with nearly two million sales in the first quarter, up 75 percent from the same period in 2021.
The increase in EV sales in 2021 was initially led by China, which accounted for half the growth. The first quarter of 2022 shows a similar trend, with sales in China more than doubling, along with growth of 60 percent in the United States and 25 percent in Europe.
Diversification of the battery supply chain is considered a key requirement.
China produces three-quarters of the claimed lithium-ion batteries and occupies about 70 percent of the production capacity of the cathode and 85 percent of the production capacity of the anode. More than half of the processing and refining capacity of lithium, cobalt and graphite is located in China.
Europe is responsible for more than one-fourth of global EV production, but is home to “very little of the supply chain” except for 20 percent of cobalt processing.
The United States has a smaller role in the global EV battery supply chain, currently accounting for only 10 percent of EV production and 7 percent of battery production capacity.
Both Korea and Japan “have substantial shares in the lower supply chain of raw material processing”, especially in the production of cathode and anode components, the report added.
Korea is responsible for 15 percent of cathode material production capacity, while Japan is responsible for 14 percent of cathode and 11 percent of anode material production.
“As the road transport electrification net expands to meet zero ambitions, the pressure on the supply of critical materials will continue to increase,” the IEA added.
“Additional investment is needed in the short term, especially in mining, where lead time is much higher than in other parts of the supply chain.
“The projected mineral supply by the end of 2020 is in line with the demand for EV batteries. Promises and declarations [made by governments and car-makers].
Demand for lithium is projected to increase sixfold to 500 kilotons by 2030, with the equivalent of 50 new average-sized mines required, the IEA claimed.
Wealth-rich countries such as Australia, Chile, and the Democratic Republic of the Congo have the most raw material mining and are operated by a few large multinational companies.
“If current high product prices bear up, cathode chemicals could move to a less mineral-intensive alternative. Lithium iron phosphate chemistry, for example, does not require nickel or cobalt, but comes with a lower energy concentration and is therefore more suitable for short-range vehicles, ”the company estimates.
This battery chemistry is especially large in China; For example, in the Australian market, the Tesla Model 3 (made in Shanghai) uses this type of LFP battery, which dominates local EV sales.
Maturity of battery recycling, setting up a closed component loop, has been listed as an essential area for further investment.


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According to a research report released by China Securities Research and Development Department in May this year, the output of two-piece aluminum cans in my country will reach 38 billion cans in 2021. According to the annual growth rate of 8%, it is estimated that the annual output in 2022 will reach 41 billion. Can.
The report pointed out that due to severe overcapacity and an extremely fierce price war, the unit price of two aluminum cans has been declining in the past few years, and will drop to a record low in 2022.
The report believes that with the intensification of industry consolidation, it will help to improve the existing competition pattern in the metal packaging industry, and the price of two-piece cans can be expected to bottom out.
However, the process may seem a little long now. According to the “Securities Times” report, Baosteel Packaging recently stated on the interactive platform that the current metal packaging two-piece can industry is still in a situation of oversupply, fierce competition in the industry, and the unit price of products has not been fundamentally reversed, and steel, aluminum, etc. The large fluctuations in commodity prices have brought greater pressure to the company’s operations. The company has made a lot of improvement measures from the four aspects of the sales side, the purchasing side, the manufacturing side and the expense side to ensure the company’s operating performance.

domain: news


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EA experienced its biggest drop in stock price in more than a decade as its shares dropped by 18 per cent on Tuesday. The “significant changes” which took place during the third fiscal quarter as described by its CEO Andrew Wilson is expected to last through the fourth quarter. The majority of these “changes” were caused by the Battlefield V which sold fewer than EA had expected.
Till date, 7.3 million copies of Battlefield V have been sold according to EA’s COO and CFO, Blake Jorgensen. This is lower than the expected target EA had set and is one million short, the company had hoped to bring more subscribers to its Origin Access Premier which would have helped its market share.
The 18 percent drop brings EA closet to its lowest drop ever, a 25.5 percent drop which happened which happened on December 17, 1999 as noted by MarketWatch.
Speaking in a conference call, Wilson said the delay in Battlefield V’s launch also contributed to this as the price was discounted so it could compete with other games during the holiday period. The game which was released November 20t last year was battling with Red Dead Redemption 2, arguably PS4’s greatest game till date which was released around the same time and Call of Duty: Black Ops 4. This had a detrimental effect.
“As a result of these decisions, we struggled to gain momentum and did not meet expectations for the quarter,” Wilson said. “We made some calculated decisions that did not work as planned in Q3 and we did not execute well in other areas of our business. Against the backdrop of a very competitive quarter, the combination of those factors led to our underperformance.” Wilson said.
In Q3, EA had


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One of the big games for Nintendo last year on the Switch was Xenoblade Chronicles 2. Developed by Monolith Soft, the game brought a grand RPG experience and very deep characters to enjoy as you progressed through the story. The game has sold over a million units on the Switch, and Nintendo stated that the game would be getting a lot of DLC, including a story DLC that was officially revealed today.
The DLC is called Torna – The Golden Country, and takes players back into the past to the first Aegis War, where Mythra and Adam had to team up with their friends to take down Malos. While we did get a glimpse of this in Xenoblade Chronicles 2, the full story wasn’t told, and this DLC seems to be going full stop into that.
The DLC will let us play as the characters from the past, and go to older versions of certain locations, including the country of Torna, which was destroyed by the time the main game started.
Torna – The Golden Country will arrive on September 14th, you can view the trailer for it below. You can also check out our review of the main game here.
— Nintendo of America (@NintendoAmerica) June 12, 2018


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This update on our work recently went out to subscribers of our monthly newsletter, the Hometown Advantage Bulletin. Join our mailing list and view the archive here.
More than a decade ago, the Institute for Local Self-Reliance launched an initiative to challenge corporate concentration and make a case for a community-scaled economy. If we want a more equitable, sustainable, and democratic future, we need more businesses that are locally owned, accountable to their communities, and operating to build local wealth, not extract it.
Many people have since come to share this vision and a remarkable movement of independent businesses, grassroots groups, and elected leaders has risen up to make it a reality.
To succeed, we’ll need to change public policy. Working alongside our allies, ILSR is playing a pivotal role in defining and propelling this agenda. We’re calling for:
* an end to the tax breaks and subsidies that give some of the largest and most destructive companies a competitive edge over community-based businesses
* a banking system that shifts capital out of Wall Street and into local economies
* a built environment that fosters entrepreneurship and enables independent businesses to thrive
This year, our work has had more reach than ever.
In May, we published an op-ed in the Wall Street Journal detailing the ways government policy stacks the deck against local businesses. The piece generated numerous responses, including an invitation from the Congressional Progressive Caucus to share our policy ideas at a hearing.
In June, we published an investigation of a new tactic big retailers are using to force cities to refund the property taxes their stores have already paid, bankrupting services and shifting the tax burden to residents and small businesses. The article drew over 100,000 readers to our website and helped spur legislative proposals in several states. Perhaps most important, it introduced a new audience to our research on the hidden costs of big retail chains. Continue reading


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Skit, the voice AI company, has revealed its plans to hire 1000 employees in the coming year. The hiring is its highest so far, across diverse roles and dynamic skill-sets for strategic business and technical expansion. The new roles are expected to help the Company meet the growing demand from global enterprise customers for executing projects and solving contact centre queries for a wider demographic.
The existing strength of the Company’s workforce is over 200. The Company plans to make key senior appointments across product, engineering, revenue, marketing, board appointments, human resources and growth teams. Additionally, Skit plans to onboard CXO roles for product, marketing and delivery, to further solidify its leadership rung.
Skit aims to hire aggressively across three primary markets including, the US, Southeast Asia and India. Having recently raised a Series B round of US$ 23 million, Skit has resolved to further entrench its voice solutions in current as well as more mature and receptive markets such as the US.
On the development, Sourabh Gupta, co-founder and CEO of Skit, informed, “With the aim to scale the company by 10x in the coming year, our priority is to first augment our sales, delivery and tech teams who will be at the forefront of Skit’s explosive growth trajectory. We are currently investing in skilled and talented individuals who will drive this success and innovate to build an ecosystem of natural man and machine conversations, creating a world where voice interfaces are the primary ones.”
In the US and Southeast Asian markets, the Company will focus on bolstering sales and marketing roles, along with filling niche requirements for high-quality data annotation. However, the majority of the hiring will happen in India, including both technical and business aspects, for lateral and fresh candidates, in product, marketing, sales, machine learning, engineering, delivery, data annotation, HR/recruitment and CXO roles.
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Huobi HK Starts Offering Crypto Spot Trading to Hong Kong's Retail and Institutional Clients Amid New License Submission
Huobi, a prominent cryptocurrency exchange, is forging ahead with its expansion efforts in Hong Kong.
According to the recent announcement from Huobi Global, the company's subsidiary in Hong Kong has introduced services for crypto spot trading and virtual asset custody.
Furthermore, Huobi HK has officially applied for a license from the Hong Kong Securities Regulatory Commission, expressing confidence in obtaining the virtual assets license in the near future.
Huobi To Become the Leading Virtual Asset Platform In Hong Kong
Huobi HK has set its sights on becoming the leading virtual assets platform in Hong Kong, and it has outlined a clear strategy to accomplish this goal.
As part of this strategy, Huobi HK plans to collaborate with independent auditors for the next six months.
The auditors will assess the company's financial statements and evaluate its business operations and processes to enhance efficiency.
During this period, Huobi HK will also prioritize security measures, anti-money laundering protocols, and compliance with the regulations set by Hong Kong's virtual assets regulators.
Strengthening security measures will instill trust in customers and ensure seamless and effective operations for the firm.
Hong Kong Implements Crypto-friendly Policies Encourages More Expansion
Hong Kong wants to implement cryptocurrency-friendly regulations and policies as part of its plans to become a virtual asset hub.
In a recent announcement, Hong Kong Securities and Futures Commission (SFC) said it concluded consultations on regulations for trading platform operators.
The regulator launched the consultation process in February 2023.
The Securities and Futures Commission (SFC) of Hong Kong is preparing to enforce the proposed guidelines for regulating crypto exchanges starting from June 1, 2023.
Once implemented, retail investors will be able to trade digital currencies on licensed platforms in the latter half of 2023.
During the consultation process, the SFC received submissions from 152 respondents, including firms, individuals, and market participants.
Many respondents expressed support for the SFC's proposal to allow retail traders to become licensed crypto operators. However, concerns were raised regarding the costs associated with obtaining and maintaining licenses.
Some respondents also expressed concerns about the profitability of running a crypto business in Hong Kong, citing the relatively small market size compared to the size of the region.
Despite the imminent implementation of the new guidelines, the number of crypto firms registering with the SFC remains low.
The SFC emphasized the importance of crypto exchanges complying with the new guidelines or ceasing their operations in Hong Kong as required.
Huobi’s latest announcement suggests the platform has already applied for a license.


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Sam Chaudhary takes his time. The founder of ClassDojo, an edtech consumer app focused on student classrooms, spent eight years building the company before introducing a formal revenue model. All while raising more than tens of millions in venture capital from elite Silicon Valley investors with a grand mission in mind: to become the brand families turn to when they think about raising a child.
Today, ClassDojo has raised more than $200 million in venture capital and is targeting its next goal of achieving $100 million in annual recurring revenue and reaching more than 100 million families. In this episode of TechCrunchLive takes place on April 26 at noon PDT, we’ll dig into how Chaudhary played the long game in edtech and what he would do differently if he started from scratch. We’ll talk about industry opportunities in a post-pandemic landscape — and how he’s brought patience to investors. Chaudhary will speak about his entrepreneurial journey with his investor Chris Farmer, the founder and CEO of SignalFire.
Farmer leads SignalFire, a start-up venture that recently raised $900 million in four new funds. He describes SignalFire as “the only company with a true ML system where it’s a closed loop.” Before SignalFire, Farmer ran General Catalyst’s seed program and helped close deals in Coinbase, Discord, and Stripe. He will talk about investing in companies that are in no hurry to make money, competition in the marketplace and the next generation of entrepreneurs.
businessupdates.org Live is free. come join us virtually at 12:00 today and ask your questions directly in the chat! Register here. Do you have a startup? We would like you to take part in Pitch Practice where you have 2 minutes to pitch the show’s guests and receive 4 minutes of feedback. It’s fun and useful.


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A two-year pay deal for about 7,400 employees at car giant Nissan was hailed by Unite, the country’s largest union, today (Tuesday 13 December), as ‘excellent’ news’ that rewards a dedicated workforce.
The workforce accepted the deal by a large majority of 68 per cent, which starts on 1 January 2017, for the staff at NMUK in Sunderland and the Nissan Technical Centre Europe (NTCE) at Cranfield, Bedfordshire.
This will mean 2.75 per cent plus a £750 lump sum for year one and in year two, 2.75 per cent from 1 January 2018. An increase in maternity paid leave from 18 to 26 weeks starts in January 2017.
Unite national officer for the automotive industries Tony Murphy said: “This is excellent news for this hardworking and dedicated workforce which has been in the vanguard of the renaissance in the UK car industry in recent years.
“It is a good deal that both rewards staff and secures future employment at what is a challenging time ahead for the British car industry – we are particularly pleased about the increase in maternity pay.
“Unite wishes to continue its constructive partnership with Nissan to produce vehicles of the highest quality and to ensure that our members share in the company’s success.”
Notes to editors:
For more information please contact Unite senior communications officer Shaun Noble on 020 3371 2060 or 07768 693940.
Unite is Britain and Ireland’s largest trade union with over 1.4 million members working across all sectors of the economy. The general secretary is Len McCluskey.


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In yet another low-fare offer, SpiceJet today announced 50 per cent off on base fares on limited tickets for travel till March next year on sale till Saturday.
Budget carrier SpiceJet under its discount fares as low as Rs 499 has sold over one lakh tickets on Day 1 of the three-day offer.
The Supreme Court has dismissed petition filed by city consumer rights activist against refund of discounted fare for passengers travelling in high capacity coaches wherein berths were extended from 72 to 81.
Private carrier Jet Airways and its 24 per cent equity partner Etihad on Thursday announced a 20-50 per cent special limited period discount on fares across 135 international destinations of the two carriers.
The Bombay high court on Wednesday directed the Centre to set up a Fare Fixation Committee (FFC) by September 30, 2014, to look into the Mumbai Metro tariff. A division bench of Chief Justice Mohit Shah and Justice M S Sonak said that if no decision is taken on the FFC by then, the Mumbai Metro One Private Ltd (MMOPL) could approach the court to consider its plea for implementing fares that range between Rs 10 and Rs 40.
The transport department has decided to give rebates to passengers applying for reservations in advance of 5-20 days from the date of journey through Volvo buses. People who book reservation 20 days in advance will get 20% discount on fare while those applying 5 days in advance will get 5% rebate. Your 2 hours a day, thrice a week for 100 days can change many lives. Apply now to volunteer with Teach India at www.teachindia.net for Delhi/NCR & Mumbai region only.
The transport corporation has decided to give 5-15% discounts on fare to those customers who book seats through reservation. The benefit would extend from December 1 to March 31. The corporation said the fare in Volvo was much more than that of third class in trains, which led to decrease in the number of passengers. Now people would get discounts up to various amount depending on how early one reserves the seat.


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The LPGA, the premier women’s professional golf tour, has partnered with Hana Kuma, the production company founded by tennis superstar Naomi Osaka, to elevate the profiles of its players and strengthen the tour’s brand.
This innovative collaboration aims to make LPGA players household names by providing them with tailored assistance to enhance their personal brands. Eight players will be selected for an inaugural pilot program, receiving guidance on building their social media presence, engaging with fans, and developing their personal narratives.
All LPGA athletes will also participate in a brand-building workshop in May, focusing on developing their personal brands and connecting with audiences. These initiatives are part of the LPGA’s strategy to increase player recognition and build a stronger connection with fans.
LPGA Commissioner Mollie Marcoux Samaan emphasized the importance of showcasing the athletes’ personal stories and athletic achievements. “Fans follow people and build strong affinity with those whom they know and connect,” she said. “Our athletes are inspiring, particularly for young girls, and we can’t wait to help give them the biggest platform possible.”
Osaka, who has been a vocal advocate for women’s sports, expressed her excitement about the partnership. “With Hana Kuma, I want to pay it forward by helping empower and champion the LPGA players,” she said. “Together, we can continue to uplift and inspire the next generation of female athletes.”
Stuart Duguid, Osaka’s longtime agent and co-founder of Hana Kuma, believes the partnership has the potential to transform women’s sports. “We’re excited to embark on this journey with the LPGA,” he said. “Our commitment extends to amplifying the diverse narratives of LPGA athletes, reshaping their interactions with fans and sponsors, and pushing the boundaries to elevate women’s sports to new heights.”
The LPGA’s revenue has grown significantly in recent years, but only two golfers made Forbes’ list of highest-paid female athletes last year. This partnership with Hana Kuma aims to address this disparity by providing players with the tools and resources to build their brands and increase their earning potential.


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EV Cargo’s CM Downton has secured four new contract extensions, sealing distribution agreements with paper, cardboard and sustainable packaging firms Saica Pack, Stora Enso and SCA and toy firm Mattel. The Saica Pack, Stora Enso and SCA deals see Downton continue to grow its share of the packaging sector, which now accounts for around 30% of the Gloucestershire-based operator’s business. Downton’s extension with Saica Pack involves additional deliveries of paper reels inbound to the Newport manufacturing plant and the distribution […]
Monks Contractors is expanding its fleet and taking on new drivers after landing a number of major deals including one with Lancashire Renewables to provide 30 new waste disposal and recycling vehicles.
Abbey Logistics Group has renewed its contract with food manufacturer ADM International for the distribution of refined oils and fats across the UK.
Bibby Distribution has said it is too soon to comment on what impact the closure of discount supermarket Netto will have on its business.


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Monster Beverage Corp. sued to block City Attorney investigation into its marketing of hyper-caffeinated energy drinks to children as young as six, despite known health risks
PASADENA, Calif. (April 11, 2016)—A three-judge panel of the Ninth Circuit Court of Appeal heard arguments last week in Monster Beverage Corp.’s appeal of a 2013 district court decision allowing San Francisco City Attorney Dennis Herrera’s consumer protection lawsuit against the energy drink maker to proceed in state court.
Representing San Francisco, Deputy City Attorney Tara Steeley argued that California courts have jurisdiction to hear such cases, and that the U.S. District Court properly dismissed the pre-emptive federal suit by the nation’s largest energy drink manufacturer to block Herrera from investigating and pursuing the company’s alleged violations of law. A video of oral arguments before the panel in Pasadena, Calif. on is available at:
Said Herrera: “Monster Energy continues to push its bogus defense that it’s being unfairly singled out because agencies and consumer advocates aren’t similarly pursuing Starbucks over caffeinated coffee. The argument hopes we’ll somehow forget, of course, that Monster markets its highly-sweetened, fruit-flavored caffeine drinks directly to youth—despite the known health risks that these products pose to young people—and that Monster’s marketing messages have frequently encouraged excessive consumption.”
A Dec. 16, 2013 district court ruling by Judge Virginia A. Phillips cleared the way for Herrera’s state court consumer protection action, which alleges that the Corona, Calif.-based Monster Beverage violated state law by targeting youth—including children as young as six-years-old—in its marketing of products that pediatric studies show “may lead to significant morbidity in adolescents.” A representative article in Pediatrics in Review concluded that the particular health risks that highly-caffeinated, sweetened energy drinks pose to youth derive from “cardiovascular effects, withdrawal symptoms, mixing with alcohol, association with substance dependence.” (Source: Blankson et al., Energy Drinks: What Teenagers (and Their Doctors) Should Know, Pediatrics in Review, 2013;34;55.)
The National Collegiate Athletic Association, which represents more than 400,000 student-athletes at more than 1,000 North American colleges and universities, currently prohibits its member institutions from distributing caffeinated energy drinks to student-athletes. The NCAA has concluded that energy drinks “pose a health and safety risk for student-athletes,” and “can have adverse health consequences if consumed before or during strenuous exercise.” Pediatric studies have similarly found that the cardiovascular effects “of heavy caffeine use can be a significant source of morbidity in athletes,” citing new-onset seizures, hypertension, heart palpitations, and diuretic effects that can “lead to dehydration in athletes who do not drink enough fluids to compensate.”
Herrera’s lawsuit is: People of the State of California v. Monster Beverage Corporation, San Francisco Superior Court No. CGC‐13‐531161, filed May 6, 2013. Monster’s appeal of its pre‐emptive federal action is: Monster Beverage Corporation v. Dennis Herrera, U.S. Court of Appeals for the Ninth Circuit, 13-57128 (originally filed in U.S. District Court, Central District of California, Eastern Division, CV‐13‐00786, on April 29, 2013).
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In a press briefing on June 3, Agriculture secretary Emmanuel Piñol said that mango growers had an unusual increase in harvest—a surplus of two million kilos of mangoes in Luzon alone—which is attributed to the El Niño phenomenon, and that the farmers are asking for help to sell their produce.
To address this issue, the Department of Agriculture plans to launch the Metro Mango Marketing Program on June 10 to attract buyers of mangoes produced in Luzon. Mangoes will go for just P25/kilo, with a minimum order of at least four metric tons.
The Department of Agriculture (DA) has also reached out to people in the food industry, according to a report by Agriculture. One of which was Chef Jam Melchor, the founder of Philippine Culinary Heritage Movement and the country head of Slow Food Youth Network Philippines, whose Facebook post on the mango oversupply has been shared over 400 times. According to his post, you just have to call the Department of Agriculture's Agribusiness and Marketing Assistance Service at 925-3795 and they'll link you directly to the mango producers.
In the same report, Chef Jam also shared the farmers' need to coordinate with the Department of Agriculture's marketing services so that they can find potential buyers even before they harvest. He added, "This will be very difficult because [a] mango's life span is only three to four days."
In 2018, around 10 tons of red tomatoes were thrown away in Kalayaan, Laguna, as farmers were not able to sell them due to oversupply.
Yummy.ph. Minor edits have been made by the editors.


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2010 August 13
Jenne Lombardo Exits M.A.C.
JOE SCHILDHORN/PatrickMcMullan.com View Gallery
(NEW YORK) Jenne Lombardo, M.A.C ’s Executive Director of Global Fashion, Talent and Special Events, who was instrumental in creating the M.A.C. & Milk fashion week venue, is departing the company to pursue new opportunities while still staying on in an consulting role after six and a half years with the beauty brand.While at M.A.C, Lombardo developed a series of fashion and celebrity driven initiatives, including Lady Gaga as the face of Viva Glam and collaborating with Terence Koh. “I have so much love for my family at M.A.C and look forward to working with them in this new capacity,” said Lombardo.
Chanel is taking quite a trip for its next showing: Karl Lagerfeld's latest Cruise collection will be trotted out in Dubai on May 13. The show will be staged on an island off the city...
Meaghan Murphy, formerly deputy editor at Self, has been named executive editor at Good Housekeeping...John Brodie, formerly executive editor at Hachette Book Group, has been named...
It's always an editrix-studded affair when Ann Taylor presents their latest collection, and their Fall 2014 preview this week was no exception. The likes of Kyle Anderson, Cindy Weber...


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Saving your bacon
By Ken Albala
October 28, 2015 Updated: October 29, 2015 9:18am
Photo: Joe Raedle, Getty Images
Processed meats, including hotdogs and bacon, were called out in a report released Monday by the World Health Organisation’s International Agency for Research on Cancer. The agency said eating processed meat can lead to colorectal cancer in humans. The cancer risk associated with meat remains small but rises with the amount consumed.
The recent World Health Organization declaration that cured meats could cause cancer has left many of us in the world of gastronomy reeling. My personal concern arises not so much from the risk — as an amateur sausage-maker, I’m not about to give up meat nor, I suspect, are most of my fellow devotees of all things porcine. What I worry about is yet another round of food fear-mongering that does more harm than good.
As the artisanal food movement has blossomed, particularly here in the Bay Area, a burgeoning group of craftspeople has been working to revive the ancient traditions of charcuterie, those cold, cooked meat delicacies such as sausage and prosciutto. These arts have been largely lost this past century precisely due to our current safety standards. Created for industrial scale processing, with protocols designed so meats could be shipped farther and have a longer shelf life (priorities many of us would question), these regulations have shut down many manufacturers of traditional salami, hams and other cured pork products. In contrast, local artisanal meats have been safely consumed for millennia in Europe, often cured with nothing more than salt and using meat from well-raised animals. But things are different here.
In the 19th century, when super-refined salt came into use, industrial-scale producers of cured meats were required to use potassium nitrate (saltpeter) and then later (since the ’50s) sodium nitrate and nitrite. These chemicals prevent botulism (a word which, incidentally, comes from the Latin word for sausage, “botulus”). They also give bacon, ham, salami, corned beef and hot dogs that pink color and distinctive flavor and texture.
The fact that nitrates are linked to cancer is not news. In the 1970s, at the same time saccharine was vilified, a few studies showed a correlation between nitrates and cancer in rats. To assuage consumer concern, manufacturers about a decade ago started using celery powder (a potent source of nitrates) instead. An odd legal loophole allowed them to label products processed with celery powder as “uncured” and organic — even though that’s not true at all. By definition, bacon is cured: “uncured” bacon is not bacon. Ironically, celery powder yields less predictable results than refined nitrates. I know this from testing it systematically in my own cured pork; sometimes the product simply goes bad.
The worrisome part of the WHO declaration is that it may spark another round of food regulations designed for mass industrial producers that will stunt the artisanal food movement. Meanwhile, it may send highly health-conscious consumers (who still love meat) to purchase deceptively named “uncured products.” A few worried souls may go so far as to swear off cured meats altogether.
To be sure, even a sausage enthusiast like myself can see the sense in moderation around cured meats. Of course, if you’re eating vast quantities of bacon every day, my guess is that you probably do have more health problems and do run a marginally greater risk of cancer. But that may have to do with overall lifestyle. For me, all this only raises the real question lurking at the bottom of the controversy.
Is a life without bacon worth living?


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Published on : Tuesday, March 21, 2017
Kaohsiung that is located in Taiwan is putting its best foot forward in its efforts to lure an increased number of tourists from around the East and Southeast Asia via the cruise vessels that are docking in the second-largest city in Taiwan, according to Tseng Tzu-wen, the Kaohsiung City tourism official.
In the year 2015, about 46 cruise ships had coked in the port of Kaohsiung and the city had expected that the regional tourism industry would flourish.
But then, just 14 cruises had docked in this city last year.
This year, 44 cruise ships are scheduled to dock in Kaohsiung Port that would usher in nearly 1,20,000 passengers, as per Tseng. He also said that the resumption of cruise tourism to the city is actually a part of the New Southbound Plan of Taiwan to lure in a greater number of tourists from around Asia.
The visitor arrivals, however, from China have decreased.
In order to make the city more attractive to cruise passengers, the cruise ship terminal of Kaohsiung has been developed to facilitate the customs clearance. The tourism bureau of the city has also made way for some welcome activities such as tour packages and also gifts for passengers who have been disembarking at the port.
This city is estimating the every cruise ship could be able to bring in NT#2 million in passenger consumption revenue.
The government is optimistic that the revenue from the 44 scheduled cruises this year would exceed NT$100 million. SuperStar Virgo Leo cruise ship of Star Cruises had docked at the port on Tuesday with over 1,800 passengers from Hong Kong and the Philippines.


text: Tata DocoMo has launched ‘ISD Packs’ that will now allow all its subscribers in Andhra Pradesh to make international calls to any phone in the US and Canada at just 1 paisa per second. The new ISD Packs are available at Rs 59 with a validity of 30 days and Rs 205 with a talktime of Rs 145 with validity of 30 days. “Tata DOCOMO pioneered the ‘Pay Per Use’ and ‘1 paise per-second’ concepts in India. Just a year later, the launch of this ISD Packs extends our unique pricing paradigm to international calling as well,” commented NV Subbarao, regional head, South East, Tata DocoMo. “At our launch last year, we had promised to continue to innovate and introduce industry-changing products and services-the ISD Packs are testimony to this promise.” He further added, “Iintroducing ISD packs was the need of the market with the shrinking international geographies and desire of the consumer to connect with their loved ones abroad at affordable international tariff. The Rs 205 and Rs 59 ISD packs will enable Andhra Pradesh subscribers to talk to their heart out at local call rates!” “Our new packs surely are cost-effective proposition for the people, allowing them the convenience of affordable calling to these countries. This is our way of thanking our loyal customers, and we are sure this will delight them and bridge all communication gaps between family members and friends,” added Subbarao.


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We built and exported more cars than before, but we sold less. Our market is under some pressure, in line with the general economy, and vehicle rental sales propped up the market to some degree.
Naamsa, the industry body that reports on vehicle sales and industry issues, reported on Tuesday that the industry sold 39 984 vehicles in December. Of this, 26 547 units were passenger vehicles, with a further 11 218 in light commercials (bakkies, panel vans and similar). The remainder was split between medium, heavy and extra heavy trucks and busses.
Vehicle sales are down 1.9% on December 2017, when 40 751 vehicles were sold, and down a round 1% on the full year figures for 2017. While 1% is not a significant drop in sales from the last year, it is part of a downward trend in vehicle sales over the past few years.
The industry sold 552 190 vehicles in 2018, compared to 557 703 in 2017. For reference, the industry’s best market to date was in 2006, when 714 315 new vehicles were sold. As recently as 2015, the vehicle sales market still notched up 617 648 new vehicle sales, which is significantly higher than in 2018 or than the market forecast of 558 000 vehicles for 2019.
In contrast to the lacklustre local vehicle sales, the industry recorded a massive improvement in export sales. Naamsa reports that the industry exported a record 351 154 vehicles in 2018, which Mercedes-Benz (C-Class) and Ford (Ranger, Everest) contributing the largest portion of these exports. In total, the South African vehicle manufacturers built an estimated 610 000 vehicles in the past year for both the local and export markets.
According to several market analysts, the last few months of 2018 saw a decline in demand from the private buyers, due to a small increase in interest rates and general pressure on their disposable income. Vehicle rental companies increased their purchases before the holiday season and so counteracted some of this decline.
These same analysts expect the same pressure on disposable income and general economic malaise to impact on vehicle sales in 2019, with only a small increase from 552 190 vehicles to 558 000 vehicles expected in the new year.
Looking at general vehicle sales in December, some brands performed very well. Renault appeared out of nowhere and sold 2 934 units to pip Hyundai to a place in the top 5 vehicle brands. Toyota again led the market with 9 038 units, followed by Volkswagen (6 594). Nissan (3 906 vehicles) beat Ford (3 467) to the third spot.
In the upper end of the market Bentley had a good Christmas with 13 vehicles sold, of which 8 were Bentayga. Ferrari and Maserti each sold four cars and Porsche ended the year with 112 vehicles sold in December.
Interestingly, Jaguar reported the sale of four I-PACE models. This all-electric SUV is expected in South Africa in the first quarter of 2019 and this first sale probably represents the first models for local testing and marketing.
For 2019, one should keep an eye on the brands just below the Top 5. Hyundai introduced several new products, and more are planned for 2019, so they should see a further improvement in vehicle sales. Suzuki is officially part of the Top 10, thanks to good pricing and new models, such as the new Swift and Jimny and rumour has it that their turbo-charged Suzuki Swift Sport is due around mid-2019.
One should also keep an eye on the ever-growing SUV market. This market has grown significantly in popularity and product offerings. For some brands, like Toyota, Ford and Volvo, over 50% of their total passenger vehicle sales are now SUVs.
There is significant growth in the small SUV segment with the new Ford Ecosport, Toyota CH-R and others, and there are even more models on the way, such as the new Mahindra XUV300 and Volkswagen T-Roc. Meanwhile other market segments will also see the introduction of SUV models. These include the luxury (Porsche Macan, BMW X7, Audi Q8) and ultra-luxury (Rolls Royce Cullinan) markets.


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With the increase in working population, the need for on-the-go consumption has only gone up. At the same time, awareness about nutrition and health has become much stronger and penetrated deep into Indian consumers’ minds. On the regulatory side, Food Safety and Standards Authority of India (FSSAI) has been spreading awareness about issues related to food safety across the country, while also strengthening legislation to ensure that only safe food is made available to consumers, both by the producer as well as the industry.
FSSAI has also moved to a more comprehensive approach towards food safety instead of the erstwhile fragmented one. “You will see a quantum jump in the level of public confidence in food safety. As far as product standards are concerned, I can confidently say that we have a reasonably robust system,” says Pawan Agarwal, CEO, FSSAI.
Though Food Safety and Standards Act has completed 11 years of its enactment this year, FSSAI as an autonomous body was set up in 2008. And since then, the body has taken upon itself the challenge of creating a regulatory environment different from other countries, yet fit for the nuances of India.
Compromised quality, increasing adulteration cases and instances of product integrity issues pose serious challenges to food safety. Such issues can cause irreparable damage not just to individual health, but also to the reputation of brands that manufacture and market these products. With the advent of social media, companies have become even more prone to scrutiny, both from the government and from consumers as well.
There have been recent incidents of below-par food reaching the consumer and videos of the same spreading through social media have been widely circulated. Food safety therefore is the top concern of food and beverage manufacturers. And technology is playing a big role in ensuring that the product integrity is not compromised at any point during the value chain.
Tetra Pak India is one of the organizations that is leading the charge on making food safe and available to millions of Indians across the country. Their UHT (Ultra-High-Temperature) process and aseptic packaging systems kick-started the growth of UHT milk segment and other packaged drinks in India three decades ago. This technology eliminated the need for a cold chain during distribution, making fresh safe milk accessible to even the most remote and hard-to-reach areas across the country. The combination of UHT and aseptic packaging ensures that the food inside a carton is first ‘made’ safe and then ‘kept’ safe till it reaches the consumer.
But the challenge in a country as diverse as India does not end with creating the right solution. An even bigger challenge is to raise consumer awareness about the benefits of this technology. And that is one big focus area for Tetra Pak India.
Tetra Pak launched its 'Right to Keep Food Safe' initiative in October 2014. As part of the initiative, 15 mothers were selected as Safe Food Ambassadors (SFAs) who went on to drive the cause and spread the word about safe food practices.
Over the course of the campaign, Tetra Pak’s SFAs reached out to over 3,000 mothers across the country through workshops, seminars and social media platforms.
A recent digital campaign called 'Safe for Sure' educates consumers about the technology behind a carton of milk that makes it safe for consumption. The campaign drives home the message that UHT treated milk in six-layer Tetra Pak cartons is safe and needs no preservatives. This campaign has seen huge traction from consumers because it breaks many popular myths that surround carton milk and its safety.
Latest in the list of awareness initiatives is a campaign called ‘Safe and Nutritious Food’ which is being run jointly by FSSAI with support from Tetra Pak. Aimed at reaching out to children, their parents and teachers and arm them with information on the right nutrition choices and food safety, this campaign has reached out to over 100 schools, RWAs and other locations across South Delhi and Gurugram through interactive workshops.
“We are excited to be a part of this initiative with FSSAI. At Tetra Pak, together with our customers our most important agenda is to make food safe and available everywhere. Through campaigns like this, we intend to equip consumers with the right information on subjects like UHT milk and the benefits of aseptic technology that make carton milk safe and nutritious so that consumers can make informed choices,” says Tetra Pak’s MD for India, Kandarp Singh.
However, the application of technology in food safety goes beyond just the package and is impacting the F&B industry in more ways than one can imagine.
Take the example of how Tetra Pak is using digital technologies to support its F&B customers and brand owners. The term digitalisation may be rather broad, and may sound like an industry ‘buzzword’, but when applied wisely, it is in fact a mature, real and extremely disruptive solution for food and beverage manufacturers to mitigate food safety risks and help drive business growth.
Digitalisation is helping manufacturers manage these risks more effectively with a range of tools aimed at improving communications between employees and support teams, and improving access to data and analytics. This means that if food safety issues arise they can be resolved quickly and effectively without impacting production performance.
“At the core of everything we do at Tetra Pak is our vision to make food safe and available, everywhere. The Tetra Pak digital strategy, and digitalisation tools are making a difference to our customers’ daily operations and helping keep food safe,” added Kandarp Singh.
One key element of keeping product integrity intact, is to have full view of the product throughout the various processes. And this is being made possible using tools like the Tetra Pak PlantMaster which allows Tetra Pak experts to take full ownership of the product and ensure that it remains safe throughout the lifecycle.
Be it during production, processing, packaging or even distribution, food is an extremely fragile product to work with. The most minor error can cost consumers their health and can cost brands millions and even their reputation. As the proliferation of food brands in India increases, there is also need for greater diligence in ensuring that the food that reaches us is safe and of the best possible quantity. At the end of the day, it’s a collective responsibility for manufacturers and brand owners to bring the best to the consumer, and it is up to the consumer to make the best and most informed decision.
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- UBS Seeks Backstop from Swiss Govt in Any Credit Suisse Deal
UBS Group AG and Swiss officials are racing to put together a deal for the firm to take over battered rival Credit Suisse Group AG this weekend as they seek to navigate thorny issues such as a government backstop and the fate of the smaller firm’s investment bank.Covid Rears its Head as Flu Picks Up
Four states Maharashtra, Kerala, Gujarat and Karnataka — account for most of the new infections. A quick look at the latest Covid situation amid the seasonal flu spread.India Inc Goes About Biz as Viral Infections Surge
Executives from companies in the edtech and consulting to FMCG and manufacturing sectors said they are watching the situation closely. But there has been no impact on operations so far.
ETPrime stories of the day
After a dream restart, why are Jawa and Yezdi selling in niche numbers? Think capacity constraints.
8 mins read
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To be very honest, until yesterday, I didn’t know about Barilla. It was only after I saw a commercial of the brand featuring Roger Federer that I decided to Google the product.
Barilla was first started as a small bakery in Italy in 1877. Today it is the world’s leading pasta maker and produces over 120 varieties of Pasta. No wonder it has now chosen Roger Federer – the best tennis player of all time as its brand ambassador.
In an official statement, Vice Chairman Luca Barilla said, “Roger is an extraordinary person and athlete who, during his long career, has demonstrated principles and a conduct that has enabled him to conquer the hearts of millions of people in the world. We are confident that his values and global star power, coupled with our history and our way of doing business, will be of great help in bringing Barilla even further into its mission.”
The TVC which stars Roger Federer and Chef Davide Oldani went public on 28th December 2017. It shows the duo cooking a perfect pasta meal together. Roger shared the ad film on his Facebook page and the video already touched the ten million mark on Youtube.
I am sure that Roger’s popularity will benefit Barilla like never before. His fan following across the globe will ensure that Barilla becomes a household name in the near future.
Watch the TVC here


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Although the brand is not famous like some other smartphone giants, Sony is continuously bringing some stunning phones for consumers. The new Sony Xperia 5 II is a new addition to the company’s stunning library of smartphones.
The phone is just like Xperia 1 II but shorter in size. It means that the consumers will not see the weird look on the new phone. Besides the acceptable size, 5 II is better than the previously released models in various other aspects.
The phone is going to launch on September 29, 2020. The price range is around 950 US Dollars. Looking at the other phones from the company, it is cheaper, stylish, fast, and major other features that were not on the phones before.
Other features include the Snapdragon 865 processor which is a perfect fit for gaming. The phone comes with a 4000 mAh battery and a 120Hz refresh rate display. But there is no wireless charging option available for Xperia 5 II. There will be dual front-facing stereo speakers and headphone jacks just like previous models.
There are three cameras on the back of the phone. Based on the company claims, the new phone will be capable to record slow-motion videos at 120 FPS in 4K HDR. The video quality is also improved. The video app of the phone will give complete control over the captured video for editing.
Some of the bad news for the Xperia fans is that the phone is launching in September but it will be available after 4th December 2020. Another bad thing about the phone is that it has 5G technology but it won’t be available for the consumers on the 5G networks in the United States. The absence of 5G availability for US customers will hurt its market in the country.


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Today, we’ve got a roundup of the latest news in payments, payment technologies and mobile pay. The sector is moving fast and mobile growth is impressive. 52% of online purchases are now done via mobile device according to research by Criteo. Smartphones influence 84% of millennials’ in-store shopping says a report by Alliance Data.
Mercator Advisory Group predicts universal pay systems will eventually overtake retail brand payments due to cost, rapid technology change and consumer preference. PwC says nine out of ten payments companies believe up to 25% of their business will be lost to FinTech companies by 2020. PayPal and MasterCard will soon launch a new digital and mobile payment platform. A CCG Catalyst Consulting Group study says millennials like mobile wallets, just not from banks.
PayPal and MasterCard reached agreement on new payment platform with some very banking-like features. Best Buy introduced mobile payments across its US stores, online and in its mobile app in a partnership with ChasePay. By October 24, Walmart Canada will stop accepting Visa in 16 Manitoba stores in a dispute over fees. A McKinsey report says more than $23 billion was invested in FinTech between 2011 and 2014. Much disruption and innovation ahead in traditional banking and mobile payments for business and consumers.
52% of purchases now on mobile
The days when shoppers browsed on mobile and switched to a desktop to buy are fading, as this channel now captures more than half of all e-commerce transactions.
In the first half of 2016, top U.S. retailers grew mobile sales by 30 percent as mobile sales now account for 52 percent of all digital purchases, according to a new report by Criteo. Across all U.S. retailers, mobile share of e-commerce transactions increased by 17 percent year-over-year.
“Mobile commerce has reached a turning point and is surpassing desktop purchasing as retailers continue to evolve their mobile shopping platforms,” said Elie Kanaan, exec-VP of marketing, Criteo. “Retailers need to create a truly seamless mobile and cross-device experience and be prepared to engage with users no matter where they are along the path to purchase. Brands that master the mobile trend will have a head start on competitors and the momentum to lead the pack through the shopping seasons ahead.” Via fierceretail.com
Smartphones influence 84% of millennials shopping in stores: report
Retailers should stop thinking of mobile as a disruptor but instead embrace it to help usher in sales by making the shopper’s journey more efficient, as 34 percent of consumers leverage devices in-store for product information, according to new insights from Alliance Data.
Millennials are shifting the way retailers need to think of the customer journey, as 63 percent of them claim to shop on their phones everyday. Smartphones are becoming increasingly important at bricks-and-mortar with 84 percent of millennials claiming to use their phones for shopping assistance while in a store.
“Mobile is not so much a disrupter as it is an enabler in the customer journey. Shoppers always have relied on research and social influences in their purchasing decisions; mobile just brings a greater efficiency to the process, streamlining the shopper journey,” said Tom Colven, senior analyst of strategic insights group at Alliance Data. “Retailers need to embrace mobile as part of the path to purchase. Via mobilecommercedaily.com
Why universal mobile wallets will eventually overtake retailers’ offerings
Mobile wallets are slowly gaining adoption, but retailers’ offerings are currently the winners because they can be easily integrated with loyalty programs, providing an incentive to use them.
Many experts believe that mobile wallets will continue to grow, and by the end of the decade, be universally adopted. Retailers such as Dunkin’ Donuts and Starbucks are leading the charge in terms of brand-led mobile wallets and are seeing significant adoption rates while platform-led services such as Apple Pay and Android Pay mobile wallets are lacking in comparison, but will likely see more users in the coming years.
“For merchant wallets, the vested interest in making them work and the ancillary benefits around marketing data garnered from wider use creates a broader demand in an organization to put incentives to put them in place and the mobile wallet investments successful,” said Joseph Walent, senior analyst of emerging technology advisory service at Mercator Advisory Group. “In my opinion, the main reason for the drag in universal wallet space remains lack of acceptance, be it real or perceived, coupled with a lack of marketing effort beyond the initial set-up the phone. Via mobilecommercedaily.com
Payments sector very conscious of FinTech disruption and ready to up its game
Payments companies are the most concerned of all financial industry players to lose parts of their business to FinTech. To tackle this challenge, they are the most active in acquiring FinTech startups and launching their own subsidiaries, and they are investing heavily in cybersecurity and fraud protection.
The payments sector is very aware of the gaining power of FinTechs. Almost nine out of ten payments companies in PwC’s 2016 Global FinTech Survey believe more than a quarter of their operations could be lost to FinTechs by 2020. This is the highest percentage of all financial industry players. In response, 84% of payments companies have placed FinTech at the heart of their strategy and 35% have launched their own FinTech subsidiaries, while only 4% hasn’t yet dealt with FinTech.
Influenced by mobile apps outside of financial services, consumers continue to demand faster and easier payments. As payments become frictionless, incumbents become increasingly concerned about margin pressure. Almost three in four (74%) payments companies see this as a threat, again the highest percentage of all financial sector institutions. Customer churn is also a serious concern for the industry (61% of respondents), and more than a half of the respondents (52%) fear losing market share to new players, according to PwC. Via finchannel.com
Millennials Like Mobile Wallets … Just Not From Banks
Mobile wallets are increasingly becoming a part of the daily lives of the digital consumer. Beyond mobile payments capabilities, the non-payment side of mobile wallet links loyalty cards, coupons, boarding passes, ID cards, event tickets, alerts and notifications.
It is no wonder that Millennials and other digital consumers are embracing this mobile tool. The question is, when will the payment component of the mobile wallet become mainstream … and which wallet alternative will be the payment tool of choice?
In the CCG Catalyst Consulting Group study, “Millennials and Mobile Wallets,” the similarities and differences between Millennials and non-Millennials are examined. Since Millennials tend to lead other demographic segments in acceptance and use of digital banking tools, this research provides a good view into the future of mobile wallets as well as payment brand acceptance. Via thefinancialbrand.com
PayPal Inks Deal with MasterCard to Enable In-Store Payments
The details of the arrangement have yet to be sussed out fully, but in the coming months, it’ll see PayPal users gain the ability to select a MasterCard-branded credit or debit as a default payment method for purchases.
PayPal, for its part, has agreed to share the details of transactions completed with MasterCard’s mobile payments features. It’ll no longer nag users who’ve linked a MasterCard payment method to also link a bank account. And PayPal renewed its commitment to a prior venture, PayPal Business Debit MasterCard, that will provide qualifying PayPal users a MasterCard co-branded debit card funded with a PayPal account.
MasterCard, in turn, is rolling out the digital payments welcome wagon. It’s waiving the digital-wallet fees it typically charges platforms like PayPal, and is discounting its bulk-transaction charges. Separately, it has agreed to embrace Braintree, PayPal’s one-click online checkout tool, in the form of Masterpass (MasterCard’s digital wallet) integration — merchants who use PayPal will be able to implement Masterpass support “more easily.” And in addition, users of PayPal’s Venmo peer-to-peer payments app will soon be able to make instant withdrawals. (Currently, processing of MasterCard debit transfers can take up to three days.) Via digitaltrends.com
Best Buy adds mobile payment option
Best Buy has joined the growing ranks of retailers offering a mobile payment option at checkout, but is partnering with a third-party rather than introducing its own digital wallet.
The electronics chain signed a multiyear agreement to accept JP Morgan Chase’s Chase Pay in stores, online and in the Best Buy app.
“Our goal is always to make things easier for our customers and help them smoothly navigate the checkout process,” added Mark Williams, president of financial services for Best Buy. “Chase Pay provides an easy and safe way for customers to purchase the products they want.” Via fierceretail.com
Wal-Mart Canada to extend Visa ban to more stores from October 24
Wal-Mart Canada will stop accepting Visa Inc (V.N) cards at its 16 stores in the province of Manitoba starting Oct. 24, a company spokesman said on Wednesday, raising the stakes in a high-profile fee dispute. Manitoba was “most ready” for the move on Visa cards, he said, without giving any details on why the province was chosen.
In a rare example of talks between a major retailer and credit card company spilling out in public, Wal-Mart said in June it had been unable to agree with Visa on an “acceptable fee” and would no longer accept the company’s credit cards unless it got a better deal.
Visa cards may be banned in more stores if the companies cannot reach an agreement, the Wal-Mart spokesman said, though he did not specify which ones. Via reuters.com
Fintech and the Future of Financial Market Infrastructure
New technologies are disrupting long-established operating models across many business sectors, in some cases transforming entire industries and driving efficiencies and cost saving that would’ve been unachievable just a few years ago. Even in financial services, which has withstood waves of competition from digital innovators over the past two decades, new mobile payment apps and other technologies are forcing banks to adapt and change.
A recent report by McKinsey underscores the ongoing fintech revolution – venture capital and growth equity deployed by fintechs since 2011 has climbed to $23 billion, more than half of which was invested in 2014 alone. As these firms continue to seek new opportunities to apply their technologies to industry-wide challenges, they are setting their sights on an area of untapped potential – the industry’s back office, where a patchwork of legacy settlement and processing systems handle financial transactions worth hundreds of billions of dollars a day in the US alone. Via it-infrastructure.cioreview.com
FinTech is the engine for e-commerce and retail payments innovation
We’re following innovations in FinTech and payment technology because they are the engine that drives business. The disruption to the traditional banking and financial infrastructure has just begun both with business and consumers and interesting times lie ahead.
Finding these news updates useful? You can get them in your inbox free, every M-W-F morning, by subscribing at the top of the page – always valuable news you can use.


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Facebook (NASDAQ:FB) is launching video advertisements on a small scale this week but claims the video ads will not consume users' data plans when they are viewed on mobile devices. That difference could be crucial, as consumption of data plans could impede video ad growth on mobile, where Facebook's business is booming.
The social networking giant said that this week "a small number of people" will see video ads for the new film "Divergent" begin playing in their News Feeds on mobile devices and desktop computers. According to the Wall Street Journal, which first reported on the ads, the ads will start appearing this Thursday.
That report, which cited unnamed sources, said that many advertisers had wanted Facebook to start selling video ads in time for the holiday shopping season, but Facebook delayed a launch and was concerned the ads could annoy users. The report also said that some advertisers that produced videos early in the year were frustrated when Facebook pushed back the launch, while other advertisers also worried the ads might turn off users.
Facebook said that on mobile devices, all videos that begin playing as they appear on the screen will have been downloaded in advance when the device was connected to a Wi-Fi network. Facebook said that the content will not consume cellular data plans, even if a user is not connected to Wi-Fi when the video is played.
Facebook spokesman Adam Isserlis told FierceWireless that "if a user never connects to Wi-Fi, then these videos will not begin to play directly in News Feed. A user would have to click on them to watch them." He said "if a video is click to play, then yes, it would consume data."
Facebook said video ads will begin to play as they appear onscreen, without sound, similar to how they behave when shared by users' Facebook friends or verified Pages. If users don't want to watch the video, they can simply scroll or swipe past it. If users click or tap on the ads, the video is played in full screen and the sound for that video will play as well. At the end of the video a carousel of two additional videos will appear, "making it easy to continue to discover content from the same marketers," Facebook said.
Facebook's business is increasingly mobile. In the third quarter, sales from mobile promotions made up 49 percent of its total ad revenue (which was $1.8 billion), beating out the 41 percent mark Facebook recorded in the second quarter and up dramatically from 14 percent in the year-ago period. Facebook said mobile monthly active users were 874 million as of Sept. 30, an increase of 45 percent year-over-year. Mobile daily active were 507 million on average for September 2013.
In November, Facebook joined the GSMA, signaling its intentions to become more deeply enmeshed in not only mobile devices but the standards and policy issues facing wireless carriers and vendors.
Facebook is now in the GSMA - will Google, Amazon, Twitter and Yahoo be next?
Facebook joins GSMA, promises to be an 'active' member of wireless trade group
Facebook's mobile ads account for 49% of all ad revenues in Q3
Facebook acquires mobile data compression and analytics startup Onavo
Facebook, Cisco expand 'logins for free Wi-Fi' effort
AT&T, others use Facebook's new mobile ad measurement tools for operators
Facebook spearheads new coalition to bridge digital divide via mobile


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|STATEMENT ON PASSING OF ROAD AMERICA BOARD MEMBER AND LEGENDARY RACER JIM JEFFORDS|
| ||ELKHART LAKE, Wis., March 25, 2014 - A statement from Road America President and General Manager, George Bruggenthies, about the death of long time Road America board member and racer, Jim Jeffords:
'Jim Jeffords was the definitive example of a gentlemen racer with a heart of gold. He loved racing for the thrill of competition, not for the money. Jim will be best remembered for how his passion for racing carried over into many successful years behind the wheel and many more beyond tha...[Read more...]|
|GM DESIGN'S TOM PETERS EARNS LIFETIME ACHIEVEMENT AWARD|
|PASADENA, Calif. – In addition to more than 30 years of designing some of General Motors' most memorable vehicles, Tom Peters led the exterior studio teams that produced two of GM's most important product introductions this year – the 2014 Chevrolet Corvette Stingray and 2014 Chevrolet Silverado full-size pickup.
On Sunday, Peters received a lifetime achievement award for his work from his alma mater, Art Center College of Design, which has been at the forefront of art and design educ...[Read more...]|
|DUKE AND DUCHESS OF WINDSOR'S 1941 CADILLAC TO BE AUCTIONED IN NEW YORK CITY|
|• RM Auctions and Sotheby's offer one-of-one Cadillac custom built for the Duke and Duchess of Windsor, without reserve, November 21, in New York City
• Delivered to the royal couple at the Waldorf, the Cadillac — long thought to be destroyed —has been missing from the public eye since 1952
• Known affectionately as 'The Duchess,' this bespoke limousine is an important piece of automotive and society history
• Full sale details now available online at www.rmauctions.com
NEW YORK...[Read more...]|
|100 YEARS ON AND VAUXHALL'S 30-98 IS STILL KING OF THE HILL|
|Largest gathering of 30-98s in recent years recreates Higginson's hillclimb success
Luton/Waddington Fell – One hundred years to the day after Joseph Higginson achieved fastest time of the day at Waddngton Fell Hillclimb in the first Vauxhall 30-98, 33 surviving models – around 20 per cent of the cars left in the world – charged up the same hill to celebrate the 1913 event that marked the debut of the world's greatest sporting car.
Organised by the 30-98 Register and Lancashire Auto...[Read more...]|
|The world-renowned ‘Old Bill' Comes to Market|
|The world-renowned 'Old Bill', which has featured in every book ever written about the incomparable Brough marque, ticks all the above boxes and just about every other one too. It has been consigned by H&H for auction as part of the Roger Allen Collection at the company's Duxford sale on October 4. However, it can be viewed as early as April 28/29 at the International Classic Motorcycle Show, Stafford. It carries an estimate of £250,000-270,000.
The motorcycle originally known as 'Spit & Pol...[Read more...]|


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FINE PRINT: The big question: When to use federal coupon for TV converter
Sure, that’s generous. But there’s a catch: The coupons expire 90 days after they are mailed to you. And if you use the coupons too quickly, you might miss out on better converter devices or discounts later in the year.
The National Telecommunications and Information Administration has already begun accepting coupon orders, even though the converters will not arrive in electronics stores until sometime next month, at the earliest.
If you get your TV programming through cable or satellite, you won’t need the converter box for that set. But if your TV relies on an analog tuner – and most old sets that rely on broadcast signals do – you’ll need the converter.
“You don’t want to get it too soon because you’re not going to have too many choices,” says Edgar Dworsky, founder of the www.consumerworld.org Web site. “But you don’t want to get it too late because they may run out.”
The federal government allows each household to get two coupons, so one option is to get a coupon now – and then wait until later in the year to get your second. The coupons will be available through March 2009 or until supplies run out. The federal government has 22 million coupons available for all households, and another 11 million coupons available for homes that get TV service only over the air using an antenna.
Dworsky uses cable for his main TV, but will need converters for two old analog sets he has in his Somerville home. He says he plans on waiting at least until the converters – which are expected to cost between $50 and $70 per device – arrive in stores before he buys one.
“We’re all going to be kicking ourselves in the fall if they still have coupons left and prices come down,” Dworsky says. “It’s impossible to play it just right.”
You can apply for the coupons by calling 1-888-388-2009 or by going online and checking out www.dtv2009.gov. Just don’t rush to get them yet.


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Xbox Series S Inspired By Lunar New Year Revealed
You can win one by entering a sweepstakes on social media.
Microsoft is celebrating the Lunar New Year and the Year of Tiger with a special-edition Xbox Series S and matching controller.The specially designed items aren’t going on sale publicly, but fans can enter a sweepstakes for a chance to win them.
The console and controller designs were created by Chinese cartoon artist Bu2ma (Bu-er-ma).The design shows a tiger with a “modern twist,” featuring red and gold colors.”The custom design represents wellbeing and fortune, offering goodwill toward all gamers,” Microsoft said.
A total of 15 consoles and controllers were made, and you can retweet the tweet below for a chance to win.People in China can enter through Wechat and bilibili.The full terms and conditions are available here .
Lunar New Year, new Lunar Xbox.
— Xbox (@Xbox)
Follow and RT with [#LunarNewYearXboxSweepstakes] for a chance to win a Lunar New Year Xbox Series S bundle.
Ends 2/3/22.Rules: [pic.twitter.com/eRNIjyhg16] [January 21, 2022]
“According to traditional Chinese culture, people born in the Year of the Tiger are strong-willed and confident, both of which are characteristics shared by our global Xbox family.Like the Tiger, Team Xbox is determined to bring the joy of gaming to everyone on the planet,” Microsoft said.
The controller specifically has a red color scheme with a black ink finish; Microsoft pointed out that this is used frequently in Chinese wash paintings.
A golden tiger (虎) written in Chinese is shown on the back of the controller.
Xbox isn’t the only US gaming company celebrating the Lunar New Year.Psyonix recently announced a Lunar New Year event for Rocket League.
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With cases of the new coronavirus continuing to climb and extensive measures being taken to curtail its spread, the economic impact now looks likely to be greater than the SARS outbreak in 2003. Not only is China a bigger player in the global economy generally, but U.S. supply chains are more entwined with China today than in the early 2000s. China accounts for roughly twice the share of U.S. capital goods and industrial supply imports than it did at the time of the SARS epidemic.
The situation remains quite fluid, making it difficult to prognosticate with any precision on the impact to the U.S. factory sector. That said, the toll on U.S. manufacturing production is likely to be borne most heavily in the computer & electronics industry given its reliance on Chinese-made inputs as well as its relatively high share of industrial production. Few other industries, however, bear both high input exposure to China and command a large fraction of U.S. production. High levels of inventories in the manufacturing sector also suggest spillovers to U.S. production could be limited, at least for a time. That said, the likely drawdown in inventories along with the production halt of the 737 MAX suggests inventories could again be a sizeable drag on U.S. GDP in Q1-2020.
An Increasing Human and Economic Toll
Upon the initial onset of a new coronavirus out of China, the SARS outbreak of 2003 served as good starting point for the potential economic impact of the virus. The virus and possible economic impact, however, is quickly growing in scope. The number of cases for the new virus, officially deemed 2019-nCoV, is now more than double the cases of SARS (+20,000 versus 8,100). But beyond the human toll, a number of factors make the current outbreak likely to be more damaging to the U.S. economy.
For one, China is more integral to the global economy than it was in 2003, accounting for 19% of global output compared to 9% in 2003 (Figure 1). As a result, the measures being taken to stem the spread of the virus stand to have a greater bearing on spending as well as production, which we focus on in this report.
Production in China is already being hampered by the government’s requirement to extend Lunar New Year closures by a week. Meanwhile, travel is being limited in and out of Hubei province, the epicenter of the outbreak with a population of around 60 million, while other regions are encouraging travel be postponed. Each year there is some disruption to staffing following the Lunar New Year holiday, but the travel restrictions and fears of the virus more generally could keep more workers than usual from returning to their jobs, gumming up production for even the factories that have reopened.
Chinese Supply Disruptions: Which U.S. Industries Are Most at Risk?
The situation remains very fluid at this point, but given the extent of the virus and the measures being taken to curtail its spread, the risk that U.S. production will be affected is quickly growing. Not only does China account for a greater share of the global economy, but it has become a bigger part of the U.S. supply chain. At the time of the SARS outbreak, only 12.5% of U.S. capital goods imports came from China (Figure 2). That share has more than doubled, however, even after the trade war curtailed capex imports from China over the past year and half. The share of industrial supplies imported from China has similarly doubled since the early 2000s.
Not all U.S. industries are equally exposed to the supply chain disruptions stemming from the virus. As shown in Figure 3, the computer & electronic products industry stands to be the most directly exposed, with about 10% of the industry’s inputs imported from China.1 Computer & electronic products manufacturing accounts for 4.8% of total U.S. industrial production (IP)—making it only slightly smaller than the motor vehicles sector where output was recently roiled by the GM strike and bigger than the aerospace sector that is pending a significant hit from Boeing stopping production of its 737 MAX model at the start of the year.2 In other words, if the computer & electronics industry’s supply chain gets disrupted by the coronavirus, it could have a noticeable impact on total U.S. output. Less exposed but still posing a significant risk are the electrical equipment & components and the machinery industries, with a decent reliance on Chinese inputs (10% and 5%, respectively) and representing a chunk of U.S. IP (1.8% and 5.4%, respectively).
But, as we said, not all industries are equally exposed—take chemical products for example. Chemicals represent a whopping 12.7% of U.S. output—the largest share of any manufacturing component—but only a fraction of inputs come from China (1.6%). The low reliance on Chinese inputs should shelter chemical production from disruption, but only to a degree. With the virus still spreading and extended production stops and transport disruptions in China, global supply chains are also at risk. While only a small share of the chemical industry’s inputs come from China, it imports nearly 20% of its overall inputs. When looking at the potential cascade of disruptions across the global supply chain and not just the direct trade linkages between the U.S. and China, U.S. production of chemicals and transportation equipment are additional areas at risk of major supply disruptions (Figure 4).
It is worth noting, however, that there are few industries that bear both high exposure to imported inputs and are a large share of industrial production. Particularly when it comes to the direct exposure to China, manufacturing industries tend to have either a high reliance on foreign inputs but low share of production (e.g., apparel & leather), or a high share of IP but low reliance on Chinese inputs (e.g., food & beverages)—or low shares of both. Second-round effects such as reduced demand out of China or other global trading partners will also weigh on U.S. production, but few industries look to have major direct exposure, limiting spillovers to the U.S. manufacturing sector.
Are U.S. Factories Ready for Prolonged Disruptions?
One thing that may further insulate U.S. production from wide-scale supply disruptions, at least for a time: inventories. Inventories in the manufacturing sector stand at notably higher levels than prior periods when U.S. supply chains experienced shocks (Figure 5). After years of pushing toward “just in time inventories,” supply chain managers appear to have built in some additional cushion after events like the SARS outbreak of 2003, the Tōhoku earthquake in 2011 and the West Coast Port Strikes of 2015 showed the downside of keeping inventories so lean. Low interest rates, which reduce the cost of carrying inventories, likely have not hurt either.
The greater inventory positions of the manufacturing sector extends across nearly all subindustries. The one notable exception, however, would be in computers & electronic products (Figure 5). The real manufacturing inventory-to-sales ratio in this sector is near an eight-year low, which further underscores the vulnerability of this sector to production disruptions in the near term.
Beyond manufacturing, wholesalers also look to be at a similarly strong starting point to weather the potential supply chain disruptions emanating from the coronavirus (Figure 6). Retailers, on the other hand, appear to be at greater risk of being caught up by any production and shipment delays from China. Retailers are holding the tightest level of inventories compared to sales on record. With the exception of motor vehicle and parts dealers—an industry with little direct exposure to Chinese suppliers—inventory-to-sales ratios among all major retail categories are currently below the levels that existed around the time of the West Coast port strikes. If Chinese production and shipments are disrupted for an extended period that could eventually dampen retail sales and consumer spending in the months to come. Consumer confidence has already been rattled, although the experience of SARS and other moments of high uncertainty teach us that these disruptions have not historically kept consumer spending down for long.3
Regardless of the starting point, any supply chain disruptions stand to whittle down inventories in the coming months. That comes on top of what is already expected to be a period where inventories are hit by Boeing’s production halt of its 737 MAX. As a result of this one-two punch, inventories could be another substantial drag on GDP growth in the current quarter. If the supply disruptions from the coronavirus prove short-lived, however, the reversal of their effects along with the absorption of Boeing’s production stoppage could quickly take inventories from zero to hero when it comes to headline GDP growth. Production could similarly snap back, creating a choppy outlook for growth in the coming quarters.
While the 2003 SARS epidemic initially provided a reasonable base of comparison for the current outbreak, the sheer volume of cases in the current epidemic and China’s increased role on the global stage suggest the disruptions could be larger this time. U.S. manufacturing production is likely to see at least some disruption with the computer & electronics industry being the most exposed. High levels of manufacturing inventories provide some buffers for production in the near term as businesses are able to draw down inventories without disrupting output, at least for a time. This could add to inventory variability in the first half of the year, which was already expected to be choppy due to the shifting production schedule at Boeing. Production in the United States could be adversely affected later this year if U.S. manufacturers are unable to source inputs from China for an extended period of time.
But until the full scope of this current outbreak becomes clear, exact numbers in terms of our forecast adjustment would imply a degree of accuracy we could not possibly have as the situation continues to unfold. If a vaccine become quickly available and widely distributed not only would it serve the most important function of limiting human suffering, it would also imply that the disruption to the economy is temporary and full year GDP growth would not be materially impacted. The longer it takes to resolve, the greater the potential for longer term economic fallout.
1 In order to quantify the industries most exposed we turn to the input-output tables of the U.S. Bureau of Economic Analysis to determine what share of each industry’s inputs is derived from imports. We estimate the share of an industry’s inputs coming from China by determining the share of industry imports that come from China and multiply that by the share of an industry’s inputs that are imported. We utilize the North American Industry Classification System (NAICS) for this analysis.
2 See “Boeing Production Halt Is an About Face for Q1 Growth,” (December 17, 2019) for more detail.
3 See “Lessons for U.S. Consumer Spending from the SARS Outlook,” (January 27, 2020) for more detail.


text: Mentor ( MNT) issued a third-quarter financial report that fell well below analysts' predictions for earnings and sales, and, citing strategic uncertainties, the company withdrew its profit guidance for the fiscal year ending March 31. "The health of our business is strong and we are confident in the future," Joshua H. Levine, the president and CEO, said Monday. "Our third-quarter results were impacted by transitory factors and temporal disruptions." Those factors included the Food and Drug Administration's continuing review of Mentor's silicone-gel breast implants for cosmetic purposes. In the U.S., these implants are only permitted in rare instances, such as reconstructive surgery for women who have undergone mastectomies. Many foreign markets allow the implants for cosmetic purposes. Mentor, based in Santa Barbara, Calif., also is seeking to expand its aesthetics-medicine business -- such as dermatology products -- and to find a "strategic alternative" for its urological-products unit. Levine said a decision should made in 90 days. "While we strongly believe these activities have the potential to create significant value for Mentor's shareholders, there is uncertainty regarding their timing, said Levine. "Because of a lack of visibility in these areas, we believe it is appropriate to withdraw our full-year financial guidance for fiscal year 2006." The company had forecast earnings of $1.60 to $1.65 for the fiscal year, excluding the potential impact of silicone-gel implants and a decision on its urological products. The Wall Street consensus had been $1.56. The earnings and revenue news, delivered after the markets had closed, sent Mentor's stock sinking in extended trading. Lately the shares were down $3.27, or 7.5%, to $40.63. In regular trading, the stock slipped 19 cents. For the three months ended Dec. 31, Mentor posted earnings of 33 cents a share, excluding one-time items, on revenue of $120.5 million. Analysts polled by Thomson First Call had forecast a profit of 38 cents a share, excluding items, and revenue of $130.6 million.


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Dublin department store Arnotts is set to see an €11 million investment by its owner Selfridges Group, for a refurbishment and an upgrade of its technology systems, according to The Irish Times.
The refurb by the group, which is owned by the Irish-Canadian family of Galen and Hillary Weston, will include an overhaul of its beauty hall at the Henry Street entrance in addition to new restaurant facilities.
The move is reported to come in addition to the €4 million that Selfridges made available for improvements last year.
Arnotts has a turnover of more than €75 million and is set to open a new toys department. This department will open in the coming weeks and will be adjacent to the new childrenswear department that has moved to the basement.
The department store also plans to collaborate with the Little Museum of Dublin ahead of Arnotts’ 175 anniversary celebrations in May.
Beauty And Food
The 25,000 square foot beauty and cosmetics hall, will reportedly take up more than a quarter of the investment. Already some €1.5 million was spent on this part of the store last year, including on its Mac, Longchamp and Coach branded sections.
These three upgrades will be replicated across the beauty department to create a new ‘beauty hub’, which will promote niche cosmetic brands and will be constructed further inside the store.
Work will begin later this year to upgrade the department store’s two restaurants, Clodagh’s Kitchen on the upper floor and Handmade at Arnott’s kitchen below it as well as add a new restaurant for its 1,200 staff.
Handmade at Arnott's will see a complete redesign with new table service and, by moving the chef’s workspace out into public view, will reportedly introduce an element of ‘theatre’ to the restaurant.
Behind The Scenes
Behind the scenes, the store will also see an investment of €1.2 million in a new central kitchen which serves its various outlets.
Meanwhile, €3 million will go to technology upgrades, which will focus mainly on Arnotts’ stock control, warehousing system and a new air conditioning system.
There will also be an investment in the HR department, including a staff app to allow them to see their rota and swap shifts.
A lot of the tech investment will focus on further integrating the store’s back-of-house and POS systems with its website, as part of a strategy to link its online and offline retail.
“We have made considerable advancements in our refurbishment programme,” said Donald McDonald, the managing director of Arnotts.
“This latest investment will support ongoing improvements, and includes extensive system upgrades and technology advancements to support our ambition of making the Arnotts shopping experience the most engaging omni-channel experience in Ireland,” he said.
Selfridges bought Arnotts in 2015 from a consortium fronted by developer Noel Smyth. The group also owns Brown Thomas on Grafton Street and is an investor in Associated British Foods, which owns Primark/Penneys.
© 2018 Checkout – your source for the latest Irish retail news. Article by Kevin Duggan. Click subscribe to sign up for the Checkout print edition.