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In the last year or so, a string of retailers have gone into bankruptcy — Sharper Image, Linens ’n Things, Circuit City and Fortunoff among them. But while the stores have disappeared, their names live on.
And the companies that have breathed new life into these brand names are, paradoxically, some of the same ones that had led the stores through their dying days — the liquidators, The New York Times’s Amy Zipkin reported.
Hilco Consumer Capital in Toronto a division of the liquidator Hilco Corporation, and Gordon Brothers Brands, a division of another liquidator, Gordon Brothers in Boston, have bought the rights to use Sharper Image, Linens ’n Things and Bombay, the onetime furniture retailer. The liquidators — who would prefer to be known as asset recovery specialists — have also expressed an interest in buying the Circuit City and Fortunoff name.
Already, new merchandise with the Sharper Image name is available at retailers like Macy’s, J. C. Penney and Bed, Bath & Beyond. A new Web site for the Linens ’n Things brand, lnt.com, is up and running. In addition to the bedding and bath products the chain was known for, the site also carries toys, pet products and baby accoutrements. Jamie Salter, the chief executive of Hilco Consumer Capital, said he anticipated that Bombay would become a furniture line.
Mr. Salter estimated that Hilco and Gordon Brothers had spent about $175 million to acquire the Sharper Image, Linens ’n Things and Bombay names. He predicted a billion dollars a year in sales for Sharper Image and Linens ’n Things in each of the next five years.
Hilco got its start in the business of buying naming rights two years ago, when it acquired, in partnership with the Weinstein Company, the name of the fashion designer Halston. But the business of naming rights has accelerated in the last six months with the rising number of liquidations by retailers that have been unable to borrow money to reorganize and emerge from bankruptcy protection.
In the process, the value of brand names is being redefined.
“The liquidators are taking the definition of assets and extending them to the brands themselves,” Martin Brochstein, a spokesman for the International Licensing Industry Merchandisers’ Association in New York, told The Times.
Amanda Nicholson, assistant professor of retail management at the Whitman School of Management at Syracuse University, took a similar view. “The brand name has value,” she said.
The liquidators say they see themselves as brand licensing experts who will receive royalties for the products without the need to pay rent or sales staff. “It’s not a capital-intensive business,” Mr. Salter said. “It’s a royalty-driven business. It’s like an annuity.”
Bradley Snyder, principal and managing director of the Gordon Brothers Group, agreed. For these operations, “the store-based model is flawed,” he said.
In court papers filed last week, Circuit City asked the bankruptcy judge to name Systemax in Port Washington, N.Y., to be the so-called stalking horse bidder at an auction on May 11. The initial bid for the trademark and Internet domain names would be $6.5 million in cash plus a share of future revenue. It would essentially set the floor for competing bids, said Thomas Salerno, a bankruptcy lawyer at Squire, Sanders & Dempsey in Phoenix and an author of “The Executive Guide to Corporate Bankruptcy.” A hearing on the motion for an auction is set for Tuesday.
Systemax, though not a liquidator, is also in the market for brand names. Last year, it paid about $30 million for the CompUSA name and now operates 24 free-standing stores, more than half in Florida and a Web presence at www.compusa.com.
Those familiar with intellectual property rights say there is no guarantee that a revived brand will be successful after a retailer has gone under. The brands will compete with traditional ones that do not have a troubled history. And it is still too early to tell whether there is a market for the brands being licensed by Hilco and Gordon Brothers. Still, with the recession continuing, merchandise with a familiar name may prove attractive to consumers.
Frederico de Bellegarde is vice president for licensing for Sharper Image, which is now a joint venture of Hilco, Gordon Brothers and Bluestar Alliance, and he worked for the defunct company as vice president for wholesale and international distribution. He said he has been met with enthusiasm. “Retailers are embracing it,” he said.
Previously, some retail stores sold an earlier generation of merchandise, while dedicated Sharper Image stores and catalogs sold newer merchandise, he said. “Now, with no store channel to protect, we have a much broader distribution strategy.”
He said the brand would be extended to include categories like bedding, which is scheduled to arrive in stores in September. Mr. de Bellegarde said that the molds used to make Sharper Image merchandise were part of the liquidation sale but that those products would not necessarily be brought to market again.
The ready identification can come with a special burden, though, experts said. “Consumers might make inferences about why a company went under,” said Ryan Hamilton, assistant professor of marketing at the Goizueta Business School at Emory University. “And if those inferences are about product quality, then resurrecting the brand might not be a good thing.”
He said that even consumer sentiment about layoffs can figure in the success of a brand’s revival. “Any negative association can spill onto the brand,” he said. Still he acknowledged that creating a good brand is enormously expensive. One that is already well known has a leg up.
Yet, with consumers cautious about discretionary spending, it remains uncertain whether an influx of new brands, even ones with familiar names, will persuade customers to buy.
The Bed, Bath & Beyond Web site has a Sharper Image garment steamer for $19.99, a wireless indoor-outdoor speaker for $49.99 and an entertainment projector for $99.99.
“It remains to be seen whether they create brands that the stores want to carry,” said Stevan Buxbaum, executive vice president for marketing and business development at the Buxbaum Group, a liquidation company in Agoura Hills, Calif.
At least one expert said consumers might be confused by the new products or even feel deceived by the practice. “If you think of the trademark as a way of protecting the identity of the brands, once it’s sold, it isn’t the same,” said David K. Levine, an economics professor at Washington University in St. Louis.
Others disagree, saying that the bankruptcy courts have an obligation to dispose of all the assets and that it is possible that the liquidators overpaid for the names. “I see nothing wrong on the face of it,” says Phillip Beutel, who heads the intellectual property practice at National Economic Research Associates in White Plains. “The courts have to get the best value they can in the marketplace,” he said. The stores can use the brands to try to attract customers.
Charles R. McManis, a professor of intellectual property law at Washington University in St. Louis, said the new owners have to be vigilant in protecting their investment. He said a business had to maintain quality control or the courts might conclude that it was trying to commit fraud.
“A consumer is entitled to get what the trademark symbolizes, with merchandise roughly the same quality as before,” he said. Any trademark misuse could be considered abandonment and result in a loss of rights.
After years of relying on government spending to supercharge growth, China is planning to shift gears so that the private sector and market forces play a larger role in its economy.
The nominees, Kara Stein and Michael Piwowar, are familiar with the Wall Street regulatory agency’s business through their work.
The Public Company Accounting Oversight Board said the firm found a fraud risk in nine audits in 2009 but did not sufficiently follow up on the risk.
A proposal for cleaning up lead contamination from small car-battery recyclers in poor countries.
Refining Canada’s petroleum-soaked oil sands produces petroleum coke, and the question of what to do with it has found at least one answer in Detroit, where a large coke pile covers an entire city block.
A blistering heat wave in north and western India has caused widespread electricity cuts and led residents to protest and even attack power company officials and property.
A new product, Twitter Amplify, will help brands match advertisements with Twitter commentary by viewers.
And not caring what Elton John says about any of it.
President Obama asked Attorney General Eric H. Holder Jr. to scrutinize Justice Department investigations and said he was “troubled” that such inquiries could hinder reporters.
A federal judge’s ruling could halt the resale of digital music as well as other digital good like e-books.
A world-renowned physicist meets a gorgeous model online. They plan their perfect life together. But first, she asks, would he be so kind as to deliver a special package to her?
The Winklevoss brothers have moved on from their battle with Mark Zuckerberg and are more active than ever.
Thirteen insurers had been chosen to sell policies through the insurance marketplace — or exchange — being created under the law.
A reader asks whether white-coat hypertension — the tendency to develop high blood pressure at the sight of a doctor’s garb — is common and dangerous.
Nearly 23 years after the Americans With Disabilities Act went into effect, patients with disabilities continue to receive inadequate medical care — and many cannot even get a doctor’s appointment.
Procter & Gamble said on Thursday that its chief executive, Robert A. McDonald, had resigned. | Four executives of SAC Capital Advisors have received subpoenas to testify before a grand jury. | In a push to soften financial regulations, bank lobbyists are helping lawmakers draft legislation. | Congressional concern over SoftBank’s bid for Sprint Nextel is growing.
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The iPhone consistently offers one of the best camera experiences on any smartphone, but Apple could pull ahead of the pack should it choose to implement its latest patent published on Tuesday.
Apple's patent calls for a "digital camera with light splitter" that would be small and thin enough to fit in a wireless device, like an iPhone.
This technology is not new at all — in fact, this system of three charge-coupled devices (CCDs) is commonly found in high-end video cameras, since it's very good at capturing lights and colors and negating any wobbling on behalf of the user. But, it would be a major coup if Apple would be able to miniaturize this system to fit inside the iPhone. And here's why.
In the iPhone's current camera system, individual pixels can capture red, green and blue lights, which are scattered all over a single image sensor. But that means each color only gets one-third of the space on the sensor. By splitting the light with this proposed cube, each color can have an entire sensor to itself, which would allow for more accurate colors, and much better images in low-light scenarios.
This would be a major achievement for Apple, since it would effectively make its camera much more powerful and it'd do that without taking up any valuable space within the phone — Apple prides itself on thin devices, and its powerful-albeit-bulky camera already protrudes from the iPhone 6 and iPhone 6 Plus. Implementing this light splitter would help Apple stay on the forefront of mobile photography.
We first learned about this patent over at Apple Insider.

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Retailers Are Split About Their Predictions for Recovery in China Through 2022
Headwinds in China have been the typical topic throughout retail earnings reviews this period.
In excess of the last several weeks, Crocs, Underneath Armour and Adidas all documented headwinds to their corporations in China, largely as a result of extended lockdowns in the regions. China’s stringent “zero-Covid” coverage to overcome outbreaks of COVID-19 has led to extended demanding lockdowns in many locations, most lately in Shanghai, a town home to distribution centers and multiple retail store destinations. A lot more a short while ago, Allbirds, Wolverine Throughout the world and Tapestry also reported similar hits to their China enterprises and world wide offer chain.
More from Footwear News
Regardless of the headwinds overseas, some executives remained self-assured in the potential for restoration in the again fifty percent of 2022. At the similar time, other individuals are predicting longer-expression impacts to their enterprise that could previous through 2023.
Wolverine, which owns the Saucony, Merrell, Sperry and Sweaty Betty models, between some others, observed that it was working with lengthier lead periods for freight, partly impacted by lockdowns in China. On the other hand, the firm nonetheless reaffirmed its fiscal 2022 advice for profits and EPS, and explained it expects revenues to be in the range of $2.78 billion to $2.85 billion, with a expansion price of 15% to 18%.
“We anticipate source chain to be a lessening, but continue to significant headwinds throughout the calendar year, with evolving COVID difficulties in China presenting a new possible problem,” stated Wolverine CEO Brendan Hoffman.
Tapestry, which owns Kate Spade, Coach and Stuart Weitzman, also posted an optimistic small business outlook for the fiscal 12 months, even with pressures in China. The enterprise anticipates gradual enhancements in China, setting up with the envisioned reopening of its regional distribution heart in mid-Might and the easing of Shanghai lockdowns in the starting of June.
On the other hand, Adidas, Beneath Armour and Allbirds all provided weak direction for the fiscal 12 months, partly thanks to impacts in their China firms.
Allbirds co-founder and co-CEO Joseph Zwillinger reported that COVID constraints have slowed income in outlets and slowed general demand from customers in the region, which the corporation believes could continue to be by means of 2022.
Less than Armour, which reported a net decline of $60 million in the quarter, stated it expects COVID-19 impacts in China to lessen by means of fiscal yr 2023. Adidas past 7 days stated it expects revenues in Greater China to decrease “significantly” in 2022. Presently, 25% of Adidas’ shops and 15% of its lover retailers are closed in China.
“Given the severity of the predicament, a unexpected rebound looks unlikely as drastic countermeasures, this kind of as rigid lockdowns and containment measures, are major to a significant fall in consumer expending,” explained Adidas CEO Kasper Rorsted.
Following 7 days, when On, Foot Locker and VF Corp. report earnings, some of them will likely emphasize comparable headwinds pertaining to the ongoing situation in China.
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This week, Asymco analyst Horace Dediu published a new report based on research and analysis showing that Apple’s retail stores are now generating record revenue per visitor.
“In the US, on a sales per square foot basis, Apple retail continues to perform twice as well as Tiffany & Co., the second best retailer, and three times as well as lululemon athletica, the third best retailer,” Dediu revealed Monday.
With the most lucrative square footage across the global retail landscape, Apple’s retail stores now generate nearly $58 per visitor.
The latest quarter showed a 7% growth in visitors and a new record revenue of $57.6 per visitor.
The published analysis shows that the average revenue per Apple store per quarter reached $13 million. Dediu says that’s the highest level for a non-holiday quarter.
To review the full report, which also covers hiring growth and visitor traffic, click here.


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We are living in interesting times. In July, oil hit $147 a barrel. Five months later, oil prices have dropped by $100 a barrel. Not only that, but now it is profitable for people (if they have a few hundred million or a billion laying around to buy crude at today’s spot price, store it for a year, and lock in a profit by selling it forward. Platt’s explains the scheme:
the forward curve for oil is now providing a huge incentive for market participants to store oil. For example, the one-year spread between December 2008 and December 2009 crude is running about $10, and the combination of financing and storage costs aren’t enough to wipe out that profit incentive to buy oil now, sock it away for 12 months and collect the difference in price.
Apparently it is now profitable to rent supertankers and store the oil in supertankers because of the contango.
Usually the contango gets arbitraged away, but the credit crunch is keeping people on the sidelines, allowing the big boys to make money because they have billions in cash.


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HANOVER TWP. — The woman accused of hacking up a fit that caused Gerrity’s Supermarkets to toss out an estimated $35,000 worth of food was hit Thursday with terroristic threat and weapons of mass destruction charges alleging she threatened to expose people to the novel coronavirus.
“I have the virus. Now everyone is going to get sick,” the charges quote township resident Margaret Cirko, 35, as saying during her episode at the Sans Souci Parkway supermarket on Wednesday.
According to the complaint, were were dispatched to the store around 2 p.m. Wednesday to a report of a disorderly woman who was yelling that she “has the virus” while coughing and spitting on food and merchandise.
The store manager, Leonard Karabon, reported that the woman — later identified as Cirko — entered the store and immediately began “violently coughing and spitting” on produce that was for sale while repeatedly saying she was infected by COVID-19, which has so far sickened 36 people and killed one in Luzerne County.
Cirko continued her coughing routine throughout the store, hitting up the meat department and grocery aisles as an employee began following her and telling her to leave, police said. At one point, she forced herself to vomit on merchandise, according to the complaint.
Several employees confirmed witnessing Cirko coughing and spitting, and at least one said she was “smiling and laughing” during her performance, according to police.
When she finally did leave, Cirko grabbed a 12-pack of Yuengling Lager and tried to flee, although employees grabbed it out of her hands prior to her exiting the store, police said.
Officers used surveillance footage to identify the spitter as Cirko, whom they knew from “prior police contacts,” the charges say.
Investigators brought Cirko, of 50 Tomko Ave., to a hospital for a mental health evaluation prior to charging her with criminal mischief, disorderly conduct, retail theft, making terroristic threats and making a bomb threat related to a weapon of mass destruction.
Magisterial District Judge Joseph A. Halesey arraigned her on the charges Thursday afternoon and ordered her jailed at the Luzerne County Correctional Facility with bail set at $50,000.
The incident prompted Gerrity’s to throw out an estimated $35,000 worth of products at a time many grocery stores are experiencing shortages due to the COVID-19 pandemic.
Gerrity’s co-owner Joe Fasula previously said that he was “sick to my stomach” about the loss of food.
“While there is little doubt this woman was doing it as a very twisted prank, we will not take any chances with the health and well-being of our customers” Fasula said. “We had no choice but to throw out all product she came in contact with. Working closely with the Hanover Township health inspector, we identified every area that she was in, we disposed of the product and thoroughly cleaned and disinfected everything.”


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BlackBerry is resorting to "plan B" in efforts to keep its head above choppy market waters.
The beleaguered smartphone maker is pulling the plug on finding a buyer amid financial downturn, and will replace its chief executive Thorsten Heins, and other senior directors.
Months after trying to find a buyer for the company, investment firm Fairfax Financial, which put forward its intent to, had until Monday to examine the company's books.
In a statement before Monday market opening, Fairfax confirmed it had concluded looking for "strategic alternatives," which included, among other things, for the company.
Since announcing its intentions for a buyer, a bevy of Silicon Valley giants have reportedly looked into the company to discuss its future,, and and private investment firm Cerberus.
The private investment firm said it will attempt to raise about $1 billion by selling convertible notes in a bid to stabilize the company's dwindling cash position.
It comes not long after BlackBerry's fiscal second quarter results, which saw the company lose close to $1 billion in losses during the three-month period, ending August 31. BlackBerry also burned through about $500 million of its cash reserves.
John Chen, who formerly served as chairman and chief executive of enterprise technology firm Sybase, will replace Heins once the deal has closed as interim chief executive. Chen will also serve as executive chair of BlackBerry's board.
Meanwhile, Fairfax chief executive Prem Watsa will be appointed lead director, and chair of the company's compensation committee.
Closing of the deal is subject to conditions, including approval from the Toronto stock exchange.
"Today's announcement represents a significant vote of confidence in BlackBerry and its future by this group of preeminent, long-term investors," said BlackBerry board chairperson Barbara Stymiest in prepared remarks. "This financing provides an immediate cash injection on terms favorable to BlackBerry, enhancing our substantial cash position."
The news follows an earlier report from The Globe and Mail, citing sources familiar with the matter.
As of pre-market trading on the Nasdaq stock exchange in New York, shares in BlackBerry ($BBRY) have tanked by more than 21 percent. Shares were halted for a few minutes before market open.


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Spain launches public consultation to determine status of loot boxes
The loot boxes are going to prevent Diablo Immortal from being released in the Netherlands and Belgium and now those controversial treasure chests are back in the scope of the Spanish authorities who have called for further scrutiny to determine if the containers are actually a form of game. This time, Spain will rely on public input to try to find the answer.
Public contribution to help Spain decide the fate of the loot boxes
The nature of the loot box is associated with random number generation commonly used in games of chance, such as slots, table games and others. The idea is that a person can purchase a loot box in a video game and then claim a prize. This price is determined by a random percentage or chance for the container to have a certain reward.
Ten years ago, publishers didn’t list the chances of getting certain items from loot boxes, but recent regulatory pressures have forced them to change that and display which loot box has which chance of dropping. what objects. Of course, luck plays a big part here, as loot boxes rarely hit the mark, and that’s where their addictive and risky nature comes into play.
There is room for debate, of course. A slot machine wouldn’t reward players every spin, but a loot box will always contain an item, which is some kind of value. In other words, players pay for access in the form of microtransactions with a bit of added mystery. While the Netherlands and Belgium have moved to block all games, including Electronic Art’s FIFA and Apex Legends, and now Activision Blizzard’s Diablo Immortal, the issue of loot boxes is still a hot topic.
The Spanish Ministry of Consumer Affairs has launched a consultation on this subject in the hope of learning more about the social perception of these digitized items. Meanwhile, Spain’s General Directorate for Gambling Regulation and Consumer Affairs Minister Alberto Garzón have both called for more control over loot boxes.
The upcoming regulatory review of the Gambling Act 2005 has also been accompanied by frequent calls to ensure that loot boxes are properly regulated. Many observers have already agreed that loot boxes are indeed gambling and, even worse, kids are addicted. The most recent report from the Norwegian Consumer Council argued that gamers were manipulated into spending their money and offered decent prizes, but often got the worst-off items.
Are loot boxes really necessary if it’s so simple?
Although it’s all based on a random number generator, the actual value spent on a loot box to claim an item far exceeds what you would normally pay for the item. Opponents have called for loot boxes to be phased out in favor of in-game marketplaces where all of these items are available.
Some publishers and developers, however, have made a fraction of their S-tier items only accessible by haptically trying to unlock a loot box, and that’s the rub in many arguments against loot boxes versus gambling.
Still, the public and regulators are divided, and that’s precisely why public consultation comes next in Spain. Electronic Arts may have been called a pariah in the Benelux – the name given to the Netherlands and Belgium when mentioned together – in terms of loot box games, but a Dutch court actually ruled that EA did not violate any gambling laws by offering box loot games.


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Cast your vote for Greenlight
In addition to Greenlights shortlisting for the European Search Awards, Greenlight has also made the list for the Drum's annual Independent...
08 Feb 2014
Award Season has kicked off
News just in. Greenlight has been shortlisted for two EuropeanSearch Awards.In recognition of the outstanding ...
07 Feb 2014
Greenlight, Google and Yahoo take to the main stage at Travel Technology Europe 2014
Greenlight will take to the main stage at TravelTechnology Europe 2014, Europe's largesttravel-related...
03 Feb 2014
Firms potentially to invest effort in the wrong type of Search Engine Optimisation
Issue 10 of The Greenlight Magazine,"The Predictions Edition", unveils what's on thehorizon for Search,...
09 Jan 2014
Web searches for cruise breaks to the Caribbean up 50%
The Caribbean proved a popular destination with UK consumers whowent online to look for cruise holidays in...
03 Jan 2014
Greenlight shortisted for ‘Best Newcomer of the Year’ at the hybris 2014 Partner Awards
hybris software, an SAP company and the world's fastest-growingcommerce platform provider, has...
02 Jan 2014
Greenlight joins roster of expert panelists at leading advanced search marketing show, ionSearch 2013
Greenlight has joined the ionSearch roster, with two members ofthe agency's SEO team taking part in panel...
05 Apr 2013
Christmas shoppers are expected to spend a total of £86bn this year
05 Nov 2012
Holidays: Travel Republic and Sunmaster step into Greenlight's top 10
08 Oct 2012


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BMW has unveiled a new generation of apps. The "My BMW" app replaces the "Connected" app and is primarily intended to offer an expanded range of functions for electrified vehicles.
Tag : Bmw
A few days after Audi, BMW has also announced its withdrawal from Formula E. The Munich-based company will end its involvement in the electric racing series at the end of the coming season in order to sharpen its focus on series production.
BMW has activated the online configurator for the all-electric iX3 in Germany and published the price and equipment list that will be valid from January 1. According to this, the starting price is slightly lower than originally announced, namely 66,300 euros (incl. 19% VAT) for the Inspiring variant.
In the coming year, more and more charging stations will be Plug&Charge-capable. To achieve this, many steps have been necessary behind the scenes in recent years - groundwork from which everyone should now benefit. But one thing is still missing for the technology to be used on a broad scale: a large number of Plug&Charge-capable cars.
Which new electric cars will be launched in 2021? In the price range between 30,000 and 50,000 euros, the choice is growing. In addition to the compacts, an armada of heavyweight E-SUVs is rolling towards us. Christoph M. Schwarzer looks for us at the electric offerings of the new year!
BMW is aiming to build "a quarter of a million more electric cars than originally planned" between 2021 and 2023, and the carmaker wants to more than double the share of electrified vehicles in its sales - from around eight percent this year to around 20 percent in 2023.
BMW and Daimler's Free Now mobility platform aims to achieve climate neutrality in all key European markets by 2030 and is providing more than €100 million in resources over the next five years to support the shift towards e-mobility.
Following Mercedes-Benz Cars, Porsche, Audi, VW and the BMW Group have now also published their sales figures for 2020. Although overall sales declined for all manufacturers, sales of electric cars and plug-in hybrids increased significantly - in some cases reaching a double-digit share of total sales.
Because the expansion of the Ionity fast-charging network is progressing too slowly, the owners are said to be discussing attracting private equity capital for Ionity, according to a media report. Financial circles are talking about at least 500 million euros in fresh money.
Mini has given its 3-door, 5-door and convertible a facelift, which in the case of the 3-door also benefits the purely electric Mini Cooper SE. The drive technology remains unaffected by the refresh. The new edition of the electric Mini Cooper SE starts in Germany at list prices from 32,500 euros.
BMW is adding two more models to its plug-in hybrid lineup for both the 3 Series and 5 Series starting in March. Specifically, the 320e and 520e will be added to the portfolio for both the sedan and Touring versions of the two model lines, with prices ranging from €47,450 to €55,900 before incentives.
BMW is moving up the start of production of the all-electric i4 from the end of the year to August or September, according to a media report, which means the first cars could be delivered in Germany by the end of the year. Meanwhile, in China, BMW has slashed the price of its iX3 electric SUV.
According to insiders, the state-owned Chinese carmaker FAW is considering a takeover of BMW's local partner Brilliance. The background to the considerations is the precarious financial situation of Brilliance's largest shareholder, the Huachen Automotive Group, which is apparently on the verge of bankruptcy.
The Center of Automotive Management (CAM) has analyzed the innovative strength of 32 automakers based on 291 innovations in the field of electromobility. The top innovator in the technology field of battery-electric vehicles remains Tesla by a clear margin.
BMW has adjusted its product plans for the upcoming electric cars, according to a media report. According to the report, some e-sedans are planned, but only one more e-derivative of the well-known SUV models.
As reported, the all-electric Mini Cooper SE will receive a facelift in March. To coincide with the launch of the new edition, the British BMW brand is also launching an edition model called the Mini Electric Collection, which will be available in Germany from a gross list price of 35,600 euros.
The BMW Group has introduced a new tariff structure for its charging services BMW Charging and Mini Charging. However, only one of the two tariffs offers fixed prices at all accessible charging stations. Discounted conditions with Ionity cost extra in both cases, however.
At the BMW plant in Dingolfing, production of electrified vehicles is to be more than doubled this year from the current level of just under 20,000 to over 40,000 vehicles, with the all-electric BMW iX being one of the vehicles to contribute to this.
BMW's Mini brand is to sell only pure electric cars from 2030, according to a media report, with the last combustion-engine Mini model due to be launched in 2025.
BMW has revealed the prices and technical specifications of the two versions of its iX e-SUV. The iX xDrive40 and iX xDrive50 variants will be offered for market launch at the end of 2021 - In Germany at prices starting at 77,300 euros.
BMW has tightened its electric plans and plans to transform the Mini brand into a pure e-car manufacturer. However, the Munich-based company has left it open when exactly the last new Mini with a combustion engine will be sold. In addition, the unveiled production version of the i4 was shown for the first time.
The new safety car for Formula E will once again come from the BMW Group, but this time it will be purely electric. Following the BMW i8 with plug-in hybrid drive, this role will in future be taken on by the Mini Electric Pacesetter inspired by JCW - a special version of the new Mini Cooper SE.
Alongside the BMW Group and Daimler Mobility AG, BP will become the third shareholder in the charging infrastructure provider Digital Charging Solutions GmbH (DCS) with a 33.3 percent stake. DCS will also offer combined charging and refuelling solutions in the future through its partnership with the mineral oil group.
Mercedes driver Nyck de Vries and BMW driver Jake Dennis have won the two Formula E races in Valencia. Saturday's race with the Mercedes victory in particular caused discussion: only nine of the 24 cars were classified in the end as many drivers ran out of energy.
At its Annual General Meeting, the BMW Group announced its intention to avoid a total of more than 200 million tonnes of CO2 emissions by 2030, not only by making the drive mix cleaner, but also by improving factors such as the production and recycling of vehicles.
Rolls-Royce is working on its first electric car. CEO Torsten Müller-Ötvös has confirmed this and also named the future RR electric car: Silent Shadow. Unfortunately, there is no information about the technology and the market launch yet.
BMW has given more details on the launch of the iX, with the E-SUV set to begin deliveries worldwide in November. There are also some more details on the technology - and a new top model in the range.
BMW will initially offer its i4 electric sedan in two variants. Both the rear-wheel-drive, long-range model and the sporty all-wheel-drive, M-logo model will use the same battery. As with the iX e-SUV, the market launch is scheduled for November.
Electric cars based on combustion engines, so-called conversion vehicles, are often criticised - the requirements of an electric drive and a combustion engine in terms of body concept and room layout are too different. Anyone who suspects that the BMW iX3 would be such an unfortunate conversion vehicle is wrong, according to Christoph M. Schwarzer. The part has turned out well.
BMW plans to bundle around 360,000 charging stations from various partners in China via a mobile app by the end of the year, making charging easier for customers. The automaker also wants to make its supply chain in China more climate-friendly.
Car-sharing provider Share Now has provided insights into statistics on the use of e-vehicles in its European car-sharing fleet, with the company now operating 2,900 BMW, Mini, Smart and Fiat electric cars at four all-electric and four part-electric sites.
The BMW Group has begun everyday testing of the i-Hydrogen Next prototype. The vehicle is powered purely by electricity and uses hydrogen as an energy carrier. The company now wants to gain practical experience in a wide-ranging field trial.
The car-sharing provider Share Now is introducing another all-electric model to its Hamburg fleet in the form of the Fiat 500. 100 examples of the e-car are available in the Hanseatic city with immediate effect.
BMW apparently plans to end sales of its first all-electric production model, the i3, in the U.S. very soon. Production for the U.S. market is expected to end as early as July, but the i3 will apparently continue to be sold in other countries, but reportedly only until 2022.
Volvo Penta has begun production of electric drives for the production version of Rosenbauer's RT fire engine, including electric motors and an Active Cooling Unit (ACU) based on a 600-volt system.
Tesla is the test winner of the trade magazine "connect" for charging tariffs of car manufacturers. The electric vehicle manufacturer convinces in all categories "few", "normal" and "frequent" chargers; among the e-mobility providers, Stadtwerke München is in first place with triple "very good" for all charging types.
A sporadic software bug is the reason for a recall of the BMW iX3, according to a report by "Auto Service Praxis". In the event of a serious accident, overvoltage could cause damage to control units and components of the 12 V electrical system.
BMW and Daimler are dovetailing their Free Now and Share Now offerings. Vehicles from the Share Now car-sharing service can be booked via the Free Now multimobility platform from the end of July in France, Germany, Spain and Italy.
BMW driver Maximilian Günther and Jaguar driver Sam Bird won rounds 10 and 11 of the Formula E season, while Porsche and Audi also scored points and the Mercedes EQ factory team came away empty-handed in New York.
BMW has opened the online configurator for its new i4 and iX electric models, with prices for the electric sedan starting at €58,300 (before incentives) and the larger iX e-SUV at €77,300. BMW also offers pre-configured models for both ranges.
There is still no all-electric station wagon "in the company car segment". Instead, manufacturers continue to rely primarily on PHEV technology for this vehicle class. One of these models is the BMW 520e Touring. Here is our driving report.
After Rounds 12 and 13 of the season in London, Mercedes-EQ driver Nyck de Vries has taken the lead in the Formula E World Championship, with two second places enough for the Dutchman, with Jake Dennis in the BMW and Alex Lynn in the Mahindra winning the races.
The BMW Group has already exceeded its 2019 target of installing around 4,100 charging points for electrified cars at its German sites by the end of 2021, with around 4,350 charging points installed to date together with partner E.On.
Norway registered 6,731 new electric passenger cars in July, with e-cars accounting for 64.0 percent of new passenger car registrations last month. Norway's most successful model across all powertrain types in July was the Ford Mustang Mach-E, with 898 new registrations.
BMW will unveil the new BMW i4 M50 Safety Car for the FIM Enel MotoE World Cup at the Austrian Motorcycle Grand Prix at the Red Bull Ring on August 15, having previously used a BMW i8 as the Safety Car for the MotoE.
Shortly after the market launch of the iX3, BMW announced a facelift for the electric SUV. However, the model update only affects the appearance and the interior, there are no changes to the drive. The revised model will be on the market in Europe in the fall.
With the i Vision Circular, BMW has given a preview of how the carmaker envisions a compact car in 2040 - with a focus on sustainability and luxury. The study is reminiscent of the i3 in many respects, but is intended to be thought much further ahead.
As the first major auto show since the Corona pandemic began, the IAA Mobility is once again giving manufacturers the opportunity to display their latest models in one place. With an eye on increasingly electrified corporate fleets, we took a look around Munich and, unsurprisingly, found what we were looking for.
A new media report provides some info on the all-electric version of BMW's 5 Series. The BMW i5 is expected to be unveiled in 2023 and will also get an M variant, with the Mercedes EQE and Audi A6 e-tron said to be the main opponents.
BMW is announcing a series of model upgrades that also affect two electric models in the Munich-based company's portfolio: the BMW iX3 will receive predictive battery thermal management from November 2021, while the BMW i3 will be offered in a limited edition Unique Forever edition.
BMW has unveiled the second-generation 2 Series Active Tourer, which will launch in February 2022, initially as a combustion model, with two plug-in hybrid variants added to the range in summer 2022.
The first electric car in BMW's "New Class" announced for the middle of the decade will be an all-electric version of the next-generation 3 Series, according to a British media report, with the acronym "NK1" given as its internal working title.
BMW's Mini brand has unveiled its strategy for the future, reaffirming the BMW Group's previously announced goal of having only all-electric models in its lineup by the early 2030s. Now, it has specified how Mini plans to achieve that goal.
Ionity is receiving a €700 million investment from its current shareholders and new partner Blackrocks Global Renewable Power Platform, which will be used to massively expand its HPC network in Europe - to around 1,000 sites by 2025.
BMW has handed over the first units of the all-electric i4 to customers. The electric sedan has been in production at the BMW plant in Munich since the end of October. The first delivery of the SUV-electric BMW iX took place about a week ago, according to the latest group release.
BMW M has unveiled the Concept XM, a preview of the most powerful car ever built in series by BMW's performance brand, which will start production at the US plant in Spartanburg at the end of next year.
BMW plans to introduce Saturday shifts at its Munich plant in Q1 2022 to keep up with high demand for its new i4 electric model. The wait for the electric sedan is currently said to be around nine months, but could climb to a year soon.
BMW is apparently planning a renewed expansion of its China commitment. According to a media report, this not only involves an increase in shares in the BMW-Brilliance joint venture, but also several electrified models - but unlike the iX3, these will not be built for the global market.
BMW has unveiled its first M model designed from the outset for electric mobility. The iX M60 is the third, even more powerful model variant and has now been unveiled at the Consumer Electronics Show (CES) in Las Vegas, with a global market launch scheduled for June 2022.
BMW is now offering its iX electric SUV in three variants in China. In addition to the iX xDrive 50, the iX M60 and iX xDrive 40 are now also going on sale there, making the full range of the large E-SUV available in the important Chinese market.
BMW has now demonstrated an electric car that can change its exterior color at the touch of a button at CES in Las Vegas: the BMW iX Flow uses so-called e-ink technology for this purpose.
BMW has invested in Munich-based charging infrastructure startup HeyCharge through its venture capital arm BMW i Ventures. The startup raised a total of $4.7 million for its seed funding, with BMW i Ventures as lead investor.
A special evaluation of the TÜV report provides initial results on the condition of e-cars of the models BMW i3, Renault Zoe, Smart Fortwo Electric Drive and Tesla Model S. Of the four e-models considered, the electric Smart Fortwo performs best with a defect rate of 3.5 percent.
BMW will end production of the i3 in Leipzig in July 2022, according to a media report. The background is probably the conversion of the plant for the production of upcoming electric models.
BMW is offering buyers of its iX and i4 electric models in the U.S. two years of free fast charging at Electrify America's more than 3,000 public charging stations - up to 30 minutes per charge.
BMW will air a 60-second commercial during the Super Bowl next Sunday for the electric iX, which launches next month in the U.S. In the celebrity-studded spot, Arnold Schwarzenegger plays the Greek god Zeus and Salma Hayek Pinault plays his consort, the goddess Hera. Here's the commercial.
BMW is now bringing the i4 to the Chinese market after the iX. The e-sedan will be offered in China in two variants as the i4 eDrive40 and i4 M50 at prices starting at 449,900 yuan and 539,900 yuan, respectively.
One of the goals in the series development of the all-electric BMW i7 is to keep as much disturbing noise away from the occupants as possible. BMW has now provided some details about the corresponding test program on acoustic test benches specially designed for electric mobility.
Before BMW brings the iX5 Hydrogen into small series production later this year, the carmaker is currently completing winter testing of the fuel cell SUV in Sweden. The focus here is particularly on its performance at temperatures below freezing. For a possible large-scale production, however, BMW is calling for support from politicians - especially in terms of infrastructure.
BMW has announced that it is increasing its targets for the ramp-up of e-mobility - "confirmed by the success of its all-electric models to date", according to a statement from Munich. Initially, this primarily refers to the growing range of e-models - but electric sales are also expected to increase "rapidly" as a result.
BMW will unveil its electric flagship i7 at Auto China in Beijing on April 20 - and with it, the entire new 7 Series. In advance, the manufacturer has shown the first teaser images of the uncloaked i7 and revealed some details.
BMW has released initial specs and a teaser image for its upcoming iX1 e-SUV, which says the model will have a standard range of over 400 kilometers.
BMW has officially unveiled the all-electric 3 Series, which will be launched exclusively in China in May 2022 - as the BMW i3. Specifically, the model is called the BMW i3 eDrive35L and will be manufactured at BMW Brilliance Automotive's plant in Lydia, a district of Shenyang.
The BMW Group increased global sales of all-electric BMW and Mini vehicles by 149.2 per cent year-on-year in the first quarter of 2022, with a total of 35,289 all-electric BMW and Mini vehicles delivered to customers between January and March.
German premium manufacturers BMW, Mercedes-Benz and Audi are significantly behind Chinese brands in electric car sales in China.
BMW has unveiled the new generation of the 7 Series and, in parallel, its electric i7 version. BMW sees the generation change as a "redefinition of luxury". Expressed quite soberly in figures, the i7 is the top model of the entire series.
The all-electric BMW iX1 has successfully completed its driving dynamics testing at the BMW Group's winter test centre in the Arctic Circle, meaning that the series development process has reached its final phase.
BMW has unveiled the third-generation X1 model, which will also get an all-electric offshoot for the first time in the form of the iX1. The all-electric iX1 xDrive30 will be offered alongside two plug-in hybrid variants of the X1 shortly after its launch in October 2022.
According to a media report, the electric Mini planned jointly with Great Wall could also be exported to the U.S. market. According to previous plans, the cars were to be sold primarily in China.
The BMW Group has expanded its production capacity in China to 830,000 vehicles per year with the official opening of the BMW Brilliance Automotive plant in Lydia, a district of Shenyang.
A decision has apparently been made at BMW that the next generation of models based on the "New Class" platform planned for 2025 will be built exclusively with pure E-drives. In addition, another rumor about the battery cells for the new architecture is being confirmed.
BMW's Mini brand has revealed the all-electric Mini Cooper SE for the first time as a convertible. So far it's just an unsaleable one-off, but there's apparently some hope for a production model.
Netze BW has now also completed its electromobility project in Wangen. As part of the "NETZlabor Intelligent Home Charging", eight Wangen households had an e-car exclusively for six months, which Netze BW provided to them for the duration of a project. Now the project results have been presented.
Mini has unveiled the Concept Aceman e-crossover as a preview of a new vehicle concept for the premium small car segment. Exact data on the vehicle or powertrain is scarce - Mini sees the Concept Aceman as purely a design study and a harbinger of a new interior and material concept.
The production version of the electric Mini Urbanaut study could be produced by Canoo in the USA from 2025, according to a media report. Mini is looking for a technical basis and a production location for the production version of the Urbanaut study, which could supplement the Mini range as an electric van. But there are still some question marks.
BMW's sports car division BMW M has unveiled a technology carrier based on the BMW i4 M50 with a modified body to test "innovative drive and chassis control systems", developments that could later be used in an electric sports car.
BMW is now also making a concrete announcement on the introduction of Plug&Charge technology, as electrive.net has exclusively learned: from mid-2023, the function will be available in the first e-cars from BMW. These days, Mercedes had already announced Plug&Charge for a wider range of its electric cars.


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Dick's Sporting Goods on Tuesday reported disappointing holiday sales numbers in part due to weak demand for one-time hot brands like Under Armour.
The company's CEO also said recent changes to its firearm policies, ending the sale of guns to anyone under 21, will hurt future sales and may cause fewer shoppers to come to its stores.
Last month, Dick's stepped into the national spotlight when, in the aftermath of a school massacre in Parkland, Florida, it banned the sale of assault-style rifles and the sale of all guns to anyone under 21. Other retailers followed suit, including Walmart, which also raised its minimum age rules for firearms.
Sales fell 2 percent at established stores during the fourth quarter, which was about double the decline that Wall Street was expecting. Industry analysts watch that figure closely as a barometer of a retailer's health as it excludes the volatility of stores recently opened or closed.
To try and improve sales, CEO Edward Stack said the company will give more store space to its private-label brands, such as Second Skin workout apparel. Its store brands are growing faster than others, and Stack expects them to surpass $2 billion in sales in a "short period of time," but did not give an exact time for that to happen.
Stack said that the company's new firearms policy "is not going to be positive from a traffic standpoint and a sales standpoint."
Dick's expects full-year earnings of about $2.80 to $3 per share. Analysts polled by FactSet predict $2.79 per share.
For the period ended Feb. 3, Dick's Sporting Goods Inc. earned $116 million, or $1.11 per share. A year earlier the company, based just outside of Pittsburgh in Coraopolis, Pennsylvania, earned $90.2 million, or 81 cents per share.
Excluding certain items, earnings were $1.22 per share. That's 2 cents better than analysts expected, according to a survey by Zacks Investment Research.
Revenue rose to $2.66 billion, from $2.48 billion, with online sales up about 9 percent. But that was still shy of Wall Street projections for $2.73 billion.
Shares of Dick's Sporting Goods Inc. ended Tuesday up 32 cents, or about 1 percent, at $32.88 after dipping to $29.53 earlier in the day.
Portions of this story were generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on DKS at https://www.zacks.com/ap/DKS


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Hikari Power Ltd lifted its position in shares of Anheuser Busch Inbev NV (NYSE:BUD) by 40.5% in the third quarter, Holdings Channel reports. The institutional investor owned 96,950 shares of the consumer goods maker’s stock after acquiring an additional 27,950 shares during the quarter. Hikari Power Ltd’s holdings in Anheuser Busch Inbev were worth $8,490,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gardner Russo & Gardner LLC acquired a new stake in Anheuser Busch Inbev in the 2nd quarter valued at approximately $818,436,000. Vontobel Asset Management Inc. acquired a new stake in Anheuser Busch Inbev in the 2nd quarter valued at approximately $43,660,000. Russell Investments Group Ltd. increased its holdings in Anheuser Busch Inbev by 446.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 391,204 shares of the consumer goods maker’s stock valued at $34,290,000 after purchasing an additional 319,654 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Anheuser Busch Inbev by 3.3% in the 2nd quarter. Fisher Asset Management LLC now owns 6,346,504 shares of the consumer goods maker’s stock valued at $639,474,000 after purchasing an additional 202,472 shares during the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new stake in Anheuser Busch Inbev in the 2nd quarter valued at approximately $1,946,000. Institutional investors and hedge funds own 4.58% of the company’s stock.
Shares of BUD stock opened at $74.34 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.67 and a quick ratio of 0.53. Anheuser Busch Inbev NV has a 52 week low of $72.88 and a 52 week high of $123.24. The company has a market capitalization of $125.44 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.69 and a beta of 0.92.
BUD has been the subject of several research reports. Zacks Investment Research upgraded shares of Anheuser Busch Inbev from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Royal Bank of Canada upgraded shares of Anheuser Busch Inbev from a “sector perform” rating to an “outperform” rating and set a $102.29 target price for the company in a report on Monday. They noted that the move was a valuation call. Macquarie set a $92.00 target price on shares of Anheuser Busch Inbev and gave the company a “buy” rating in a report on Tuesday, October 16th. Societe Generale upgraded shares of Anheuser Busch Inbev from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Finally, Guggenheim began coverage on shares of Anheuser Busch Inbev in a research report on Thursday, September 13th. They issued a “buy” rating and a $107.00 price target for the company. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $114.96.
Anheuser Busch Inbev Profile
Anheuser-Busch InBev SA/NV, a brewing company, engages in the production, distribution, and sale of beer, alcoholic beverages, and soft drinks worldwide. It offers a portfolio of approximately 500 beer brands, including Budweiser, Corona, and Stella Artois; Beck's, Castle, Castle Lite, Hoegaarden, and Leffe; and Aguila, Antarctica, Bud Light, Brahma, Cass, Chernigivske, Cristal, Harbin, Jupiler, Klinskoye, Michelob Ultra, Modelo Especial, Quilmes, Victoria, Sedrin, Sibirskaya Korona, and Skol.
Want to see what other hedge funds are holding BUD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Anheuser Busch Inbev NV (NYSE:BUD).
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Spring is here and, true to form, paid protestors are gearing up for another season of state-sponsored activism and judicial intimidation. The few remaining supporters of the “legal fraud of the century” have already begun a year of manufactured campaigns against Chevron, paid for by the government of Ecuador. Read more>>
Chevron has reached a settlement agreement with Woodsford Litigation Funding Limited, a U.K.-based litigation funder that provided $2.5 million in funding to the fraudulent lawsuit against Chevron in Ecuador. Chevron brought conspiracy claims against Woodsford in Gibraltar for the company’s role in funding and advancing the fraudulent lawsuit. In the settlement Woodsford has resolved those claims by withdrawing all financial support related to the Ecuador litigation and assigning all of its interest in the litigation to Chevron. Chevron, in turn, has agreed to release all of its claims against Woodsford and Woodsford’s Gibraltar-based funding entity, Temeraire Limited. Read more>>
Recently Amazon Watch – one of the few remaining supporters of Steven Donziger, the lawyer behind the fraudulent lawsuit against Chevron in Ecuador – issued a press release claiming to have obtained videos containing “smoking gun” evidence that Chevron tried to hide contamination in Ecuador. Upon viewing the videos, however, viewers will find that the only revelation made by their …
For years, a San Francisco-based activist organization, Amazon Watch, has made Chevron the target of an unrelenting smear campaign based on false allegations of environmental and social harms in the Amazon region of Ecuador. But who is Amazon Watch, and who do they really work for? The short answer is that Amazon Watch is a key player in a fraudulent …
Steven Donziger and his few remaining followers are touting a “leaked” report related to the computers used by former Ecuadorian judge Nicolas Zambrano when he presided over the trial against Chevron in Ecuador. They claim the report, which was commissioned by the Republic of Ecuador, is some sort of smoking gun that proves Judge Zambrano was the true author of the judgment against Chevron. As usual, their claims are flat out wrong.
One year after a U.S. District Court judge ruled that Steven Donziger and his team had committed “egregious fraud” against Chevron in Ecuador, the case built on corruption and lies continues to unravel. One year ago today – March 4, 2014 – the U.S. District Court for the Southern District of New York issued a 500-page ruling concluding that the $9.5 billion Ecuadorian judgment against Chevron was the product of fraud and racketeering. Following the seven-week RICO trial, Judge Lewis Kaplan also found that Ecuador’s judgment was unenforceable in the U.S. and held Donziger liable for RICO violations.


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A business leader in Elgin has welcomed gift vouchers sales soaring to raise almost £20,000 during the pandemic.
Elgin Bid’s chief executive Gemma Cruickshank has urged people to continue to support the town’s businesses as they face the financial storm caused by the coronavirus crisis.
Between November and December, £19,876 was raised through Elgin Bid’s gift card that can be spent in 85 of the businesses in the town centre.
Over the same period in 2019, the scheme only raised £4,800.
Mrs Cruickshank said shopping local has become “more important” than ever as scores of people have been forced to change their habits as a result of the crisis.
And she welcomed the Elgin gift vouchers sale soaring.
She told the P&J: “We sold just under £20,000 worth of gift vouchers and that it is brilliant as it is more than triple what we made in 2019 sales.
“This shows people are increasingly shopping local as they have really realised that local businesses need their support.
“We have also seen a huge increase in employers choosing the gift cards as rewards for staff this year which saw our corporate sales triple compared to 2019.
“Every gift card that is bought is investment back into the Elgin town centre and 85 BID members who are signed up benefit from the cash once people decide to spend them.
“We are working with My Connect who run the vouchers programme to try to ensure people are able to spent the vouchers online with shops closed amid this current nationwide lockdown.”
Increasing average shopper spend
Meanwhile, Mrs Cruickshank revealed last month that shoppers’ had increased their average spend in the Elgin town centre during the pandemic.
She added: “I have noticed especially in Elgin there is a downfall in footfall however there is a increase in shoppers’ average spend which is really good news.
Visit www.elgingiftcard.co.uk to purchase a voucher that is valid for 12 months after activation.


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Apple's Black Friday sale
This Thursday is Thanksgiving here in the States and that means two things:
- Posts to TUAW will slow down as we celebrate the holiday
- Apple will have a big 'Black Friday' sale
Apple will be offering free shipping from the online store, as well as special pricing and hours at their retail stores (plus they will match better prices).
I will still be in a turkey coma, but good luck to all you bargain hunters out there.
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- iTunes U update will bring course creation and student discussion to iPad app
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Volkswagen Group delivers 899,000 vehicles in May
- 4.2 million vehicles handed over since beginning of year
- Fred Kappler, Head of Group Sales: “Group recorded solid growth worldwide in May.”
- Deliveries in key individual markets rise
The Volkswagen Group has handed over a total of 4.2 million vehicles to customers since the beginning of the year, on a par with the level for the previous year. The Group delivered 899,000 vehicles in May, an increase of 3.1 percent. “The Volkswagen Group recorded solid growth worldwide in May. The recovery on the South American market over the last few months is particularly encouraging. This is also reflected in our delivery figures for the region”, Fred Kappler, Head of Group Sales at Volkswagen Aktiengesellschaft, said.
In Europe, Group brands handed over 393,500 new vehicles to customers in May, representing a rise of 6.5 percent. Of this figure, 120,800 vehicles (+3.8 percent) were delivered in Germany. The Volkswagen Group delivered a total of 1.9 million vehicles (+3.6 percent) to customers in Europe in the first five months of the year. The Group handed over 65,800 models (+16.1 percent) in Central and Eastern Europe in May. 15,400 new vehicles were delivered in Russia during the same period, corresponding to a rise of16.6 percent.
In the North America region, deliveries by the Volkswagen Group increased by 1.1 percent in May, with 84,300 new vehicles handed over to customers there . 54,300 new vehicles were delivered in the USA, a rise of 3.9 percent. 377,500 customers (+2.8 percent) in North America took delivery of a new model from the Group from January to May. In the South America region, Volkswagen Group deliveries rose by 14.6 percent to 43,400 vehicles in May. 204,600 vehicles have been delivered there since the beginning of the year, an increase of 9.4 percent.
In the Asia-Pacific region, 344,700 Group vehicles were handed over to customers in May, an increase of 0.9 percent compared with the previous year. 1.6 million vehicles were delivered in the region during the first five months of the year, a decrease of 4.1 percent. Of this total, 1.5 million new vehicles (-3.3 percent) were handed over on the Chinese market. 319,500 vehicles (+2.5 percent) were delivered to customers in China in May.


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FRANKFORT, Ky. (Jan. 26, 2023) – Today, Gov. Andy Beshear highlighted continued momentum of the state’s manufacturing industry as Precision Sonar & Outdoors LLC, a producer of GPS and sonar mounting systems, announced an expansion of operations in Benton with a nearly $2.2 million investment creating 12 full-time jobs for the local community.
“The economic momentum we are seeing throughout Kentucky is the result of incredible growth among our largest and most vital industries, and manufacturing is at the center of that growth,” said Gov. Beshear. “We continually see quality companies such as Precision Sonar & Outdoors expanding to meet growing customer demand, and that is a recipe for long-term success for our economy. I want to thank the company’s leadership for their belief in the commonwealth and look forward to its continued growth in our state.”
The project will see the company build a new facility near its existing location in Marshall County. The investment comes in response to growing customer demand and will allow the company to be more efficient with additional space and a floor plan to assist with logistics and distribution of products. Additionally, the added space will provide room to house new equipment. This equipment will allow the company to provide services in-house that would have previously been outsourced, such as CNCs injection molding, water jet projects and 3D printer and laser etching. The new jobs created will include CNC, design and engineering positions.
“We are extremely excited to expand our operations and grow our business here in Marshall County,” said Allen Beard, president of Precision Sonar & Outdoors. “We are proud to be a part of this community and look forward to growing and continuing to provide quality products and exceptional customer service.”
Precision Sonar & Outdoors is an industry-leading manufacturer of GPS and sonar mounting systems designed and produced in a controlled environment from solid aluminum by experienced craftsmen in the tool and die industry. In addition to the products the company manufactures, Precision Sonar also carries a wide selection of sonar accessories. The company prides itself on producing highly durable products that enhance the appearance of its customers’ boats while being fun and easy to use.
Precision Sonar & Outdoors’ investment adds to Kentucky’s impressive manufacturing presence, which includes 5,000 facilities that employ around 250,000 residents. According to the National Association of Manufacturers, over 13% of the commonwealth’s workforce is in manufacturing, well above the national average of 8.5%.
Kevin Spraggs, judge/executive of Marshall County, is thrilled to see an existing company grow and expand within the community.
“I’m excited Precision Sonar & Outdoors has launched their large building expansion which will enable them to add new equipment,” said Judge Spraggs. “These upgrades will allow them to add jobs, streamline operations, produce more in-house, and improve their already-quality reputation. When existing businesses decide to stay and grow here in Marshall County, it lets us know they are vested in our community and that we have a good business climate.”
Elizabeth Griffith Mudd, president of Kentucky Lake Economic Development in Marshall County, is excited for the jobs and economic impact this investment will have on the community.
“On behalf of Kentucky Lake Economic Development, we are thrilled Precision Sonar has decided to expand their facility here in Marshall County,” Mudd said. “Their investment and job creation will have a significant impact on our community. We look forward to watching their future growth and success.”
Wendy Baxter, executive director of the Kentucky Lake Chamber of Commerce, noted the advantages this investment will bring to both the company and its consumer base.
“We are excited and very pleased that Precision Sonar & Outdoors has chosen to expand in Marshall County,” said Baxter. “The expansion will enable the company to better serve its current customers and create cutting-edge products and solutions for its growing business.”
Precision Sonar & Outdoors’ investment and planned job creation furthers recent economic momentum in the commonwealth, as the state builds back stronger from the effects of the pandemic.
Since the beginning of his administration, Gov. Beshear has announced the creation of over 42,000 full-time jobs and more than 800 private-sector new-location and expansion projects totaling $24 billion in announced investments.
With the books closed on 2022, the Governor has now secured the best two-year period in state history for economic growth.
In 2021, the commonwealth shattered every economic development record in the books. Private-sector new-location and expansion announcements included a record $11.2 billion in total planned investment and commitments to create a record 18,000-plus full-time jobs across the coming years.
That momentum continued strongly into 2022 with 248 new-location and expansion announcements totaling 16,000 full-time jobs behind nearly $10.5 billion in new investment.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 was $26.78 before benefits, the second-highest mark since 2010 and an 11.5% increase over the previous year.
Gov. Beshear also announced the two largest economic development projects in state history. In September 2021, Gov. Beshear and leaders from Ford Motor Co. and SK Innovation celebrated a transformative $5.8 billion investment that will create 5,000 jobs in Hardin County. And in April 2022, the Governor was joined by leadership at Envision AESC to announce a $2 billion investment that will create 2,000 jobs in Warren County. These announcements solidify Kentucky as the EV battery production capital of the United States.
Kentucky’s success has been noted by both S&P Global Ratings and Fitch Ratings, which have upgraded the state’s financial outlook to positive in recognition of the commonwealth’s surging economy. In addition, Site Selection magazine placed Kentucky at 6th in its annual Prosperity Cup rankings for 2022, which recognizes state-level economic success based on capital investments.
Gov. Beshear’s administration is projected to post the four highest years of budget surpluses in Kentucky history, and the state’s rainy day fund has a record balance of $2.7 billion.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $200,000 in tax incentives based on the company’s investment of nearly $2.2 million and annual targets of:
- Creation and maintenance of 12 Kentucky-resident, full-time jobs across 15 years; and
- Paying an average hourly wage of $23 including benefits across those jobs.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Precision Sonar & Outdoors can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
For more information on Precision Sonar & Outdoors, visit precisionsonar.com.
A detailed community profile for Marshall County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.


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Rattling Retail: Mobile E-Commerce Posts Eye-Popping Recent Gains
The brick-and-mortar retail universe of ten years ago is gone and won’t be coming back. The intercession of the internet has rewritten the retail equation and disrupted a great many decades-old practices in fulfilling customer need under a roof. While it may not be news that parking, malls and traditional retail are finding more selective appeal, what is news is that the rate of change is increasing and mobile-enabled shoppers are accelerating the trend.
How fast? The Custora E-Commerce Pulse Report published this month puts some genuinely shocking numbers together. While retail is only a part of e-commerce as a whole, the mobile e-commerce growth in the past four years has made the previous growth patterns in e-tailing look tame by comparison. As RetailCustomerExperience.com writes:
According to the new Custora E-Commerce Pulse Mobile Report, in the past four years the percentage of traffic to e-commerce sites from mobile devices (phones and tablets) jumped from 3 percent to nearly 37 percent, while US mobile e-commerce sales grew from $2 billion in 2010 to $43 billion in 2013.
The Custora E-Commerce Pulse Mobile Report analyzed data from more than 100 retailers, 70 million consumers and $10B in transaction revenue to gain a deeper level of understanding as to which mobile e-commerce trends marketers should pay the closest attention to.
Highlights of the report include:
- US mobile e-commerce is a $40 billion market, poised to hit $50 billion in 2014. In the past four years, the mobile e-commerce market grew nineteenfold: From $2.2 billion in 2010 to $42.8 billion in 2013. This represents 1875 percent growth over four years, and 111 percent four-year CAGR. 2014 is off to a strong start with $12.2 billion in mobile e-commerce sales in Q1 alone; it’s likely that mobile e-commerce will hit $50 billion in 2014.
- Email marketing drives mobile purchases; social media not so much. Email marketing drove 27 percent of sales on mobile phones, compared to only 21 percent on desktop, and 23 percent on tablet. This is a surprising data point considering the challenges of displaying email correctly on mobile devices, and deep-linking into mobile apps. Social media accounted for only 0.6 percent of sales on phones and 0.2 percent on tablets.
- Cross-device shoppers are a small but highly valuable customer segment. As of Q1 2014, just 12 percent of online shoppers make purchases on more than one device type, however this represents significant growth from only 4 percent in 2012. This customer segment is also 19 percent more valuable, in terms of customer lifetime value, than the average single-device shopper.
When markets change, we get in front of those changes or we risk disaster. The rise in e-commerce always suggests that data center and logistics property plays become more attractive. But when a rise looks this steep – a twelvefold increase in mere years – I think we can replace “suggests” with “screams”.
(Photo credit: Rakeman)


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The AFA has been informed that unscrupulous event organisers are continuing to sell other trade show as Furnitex. There is only one Furnitex exhibition in 2015 – don’t be misled.
The Furnitex show running since 1989 was relaunched earlier this year as FURNITEX connect, with Expertise Events the only event company authorised to promote and conduct the event. There is no other event being conducted using the FURNITEX brand, intellectual property, or industry reach – FURNITEX connect is your industry trade show which has evolved to incorporate a number of additional activities to increase business opportunities.
As you may be aware, Informa is no longer associated with the Australian Furniture Association (AFA) or the running of the FURNITEX show or Australian International Furniture Exhibition (AIFE). We have further heard from concerned businesses regarding confusion over the shows they are being offered or have signed up for, with some businesses led to believe they are signing with the official organisers of FURNITEX connect when they are in fact speaking to someone other than Expertise Events.
If you are being sold or promoted the idea and or brand of FURNITEX, but are not speaking to the AFA or Expertise Events, you are not speaking with the organisers of FURNITEX connect, and may be misled into signing up for the wrong exhibition. Anyone who has already made bookings with other event organisers should seek a refund if they feel they have been misled.
AFA is proud to present FURNITEX connect, a new show with quality exhibition features and exhibitors as well as new educational initiatives, under a new management provider, Expertise Events.
If you have concerns surrounding your current booking or require further information to make a booking, please contact the AFA on (03) 9856 1600 or Expertise Events on (02) 9452 7575.


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Many retailers are reporting solid sales gains for December, capping a decent holiday season.
But merchants relied on heavy discounting to get shoppers to buy in a challenging economy, raising concern about what it will take to get them to spend again in coming months.
As retailers reported their results Thursday, Limited Brands Inc., Macy’s Inc. and teen retailer The Buckle posted strong revenue gains that beat analysts’ estimates.
Among the laggards were Target Corp., which cut its earnings outlook after slim sales gain that was below expectations.
The revenue figures are based on revenue at stores opened at least a year. That is considered a key indicator of a retailer’s health because it excludes results from stores recently opened or closed.
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In a crucial step toward its goal of democratizing access to money and networks for exceptional African founders and accelerating the growth of Africa’s digital economy, Kazana Fund has announced the opening of its angel syndicate.
The angel syndicate of Kazana Fund, an early-stage investor that seeks to collaborate with “great African startups,” seeks to address structural issues that founders in the area face, such as a lack of networks and access to money that prevents them from scaling.
“We want to create prosperity across the continent, starting in Ethiopia, through businesses and innovation. According to Hilina Zenebe, managing partner of Kazana Fund, “We started the angel syndicate because we identified the immediate need in the ecosystem for a platform that connects money with entrepreneurs.
Kazana is eager to collaborate with mission-driven early-stage African innovators who have a minimum viable product (MVP), some traction, and are seeking pre-seed or seed finance.
Startups can apply for funding here, and investors can join the investor network to view transactions that have been carefully screened.


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The European Commission (EC) unveiled its proposed VAT in the Digital Age (ViDA) reforms in late 2022, sparking a flurry of discussions and analyses on how these changes will impact businesses across Europe. While some aspects of the proposals are still being finalized, many countries are already taking proactive measures to prepare for new regulations surrounding VAT reporting. While much has been said about how the Accounts Receivable (AR) side of businesses will need to adapt, this webinar aims to shed light on the equally significant impact on the Accounts Payable (AP) arena and provide guidance on how businesses can best prepare to avoid any last-minute surprises.
One of the key focuses of ViDA is on B2B e-invoicing and DRR (determination, reporting, and remittance). The reforms aim to streamline and modernize the VAT reporting process, making it more efficient and less prone to errors. While this is undoubtedly a positive development, it also means that businesses will need to make adjustments to their AP workflows to ensure compliance with the new regulations.
During the webinar, participants will learn about the role of ViDA in the AP process and how it can help streamline AP workflows. This includes exploring the potential benefits of adopting electronic invoicing systems and other digital solutions to facilitate VAT reporting. By embracing these technologies, businesses can not only enhance their efficiency but also reduce the risk of errors and non-compliance.
Naturally, with any significant regulatory changes, there are bound to be concerns and challenges. The webinar will address common concerns related to ViDA implementation in the AP process and provide strategies and best practices to overcome them. This will include discussions on data management, system integration, and staff training, all of which are crucial for a smooth transition to the new VAT reporting regime.
Furthermore, the webinar will offer participants the opportunity to engage in a Q&A session, allowing them to seek clarification on any specific issues they may have. This interactive element ensures that businesses can gain a comprehensive understanding of ViDA and its implications for their AP processes.
In conclusion, the ViDA reforms proposed by the European Commission have far-reaching implications for businesses across Europe. While much attention has been given to the impact on the AR side of businesses, it is equally important to consider the influence on the AP arena. By attending this webinar, businesses can gain valuable insights into the role of ViDA in the AP process, learn how to streamline AP workflows, address common concerns and challenges, and ultimately prepare their businesses for a smooth transition to the new VAT reporting regime.


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Qualcomm last month introduced a portable computing solution capable of transmitting electronic signatures securely via satellite communications. The portable system results from a joint effort of Qualcomm and wireless solution provider Agentek. Qualcomm said fleets will be able to transmit secure electronic signatures in 60- to 100-byte message sizes, allowing for automated proof of delivery and improvements in billing cycle times, load planning and customer service.
The first customer to implement the portable solution is Milan, Tenn.-based Milan Express. “In addition to the productivity benefits, the encryption and security features built into the system enable us to transmit sensitive information without worrying about fraud or data tampering,” said Bruce Kalem, vice president and chief financial officer of Milan Express.
Qualcomm also announced that it is beginning the next phase in its development of an untethered trailer asset management system for high-value or high-security loads. The product will operate on any of three bands, choosing the least-cost routing option.
Since 1989, Qualcomm has offered a tethered tracking system, TrailerTRACS, which offers trailer identification, drop-and-hook notification, location, status and refrigeration information. The new untethered system will offer those features plus others, including door and cargo sensors, geofencing, over-the-air upgradeability and visibility of assets and loads.
The company also said it has successfully tested high data rate technology over its satellite network, giving customers a peak data transmission rate of up to 200 times the rate they have available today. Higher rates will enable more intelligent in-cab applications, such as electronic imaging, the company said.


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The Nothing Phone (1) was one of the most anticipated Android phones of the year, and it delivered on its promise of being unique. However, now that the hype has died down, Nothing phone users are looking forward to Android 13 coming to the device. Thanks to 91Mobiles, we know that the Android 13 beta is coming to the Nothing Phone (1).
We were upset that Android 13 won’t be coming to the Nothing Phone (1) until next year. Not only that, but we don’t know when it’s coming next year. The company’s CEO Carl Pei said that it’s coming in early 2023, but that doesn’t say much.
But, the Android 13 beta is coming to the Nothing Phone (1) soon
Carl Pei, has been teasing the eventual Android 13 beta for the Nothing Phone (1) couple of weeks on Twitter. This should come as no surprise, as posting teasers is kind of his thing. Yesterday, he gave us some solid information on the beta.
In a tweet, he said that Nothing OS Android 13 closed beta launched yesterday. The open beta will begin in two weeks. Other than that, the OnePlus co-founder didn’t give us any other information on the update.
This means that we’re left in the dark about pretty much everything. We don’t know exactly how to sign up for the beta program, nor do we know who’s eligible for the closed beta.
Also, we don’t know what to expect during either the open or closed beta. We’re not quite sure if Nothing plans on doing anything with the visuals or if it’s going to be mostly an infrastructural revamp.
What we do know is that Nothing is on track to deliver the Android 13 update on time, and that’s good news. The latest version of Android is starting to make its way to more phones. Obviously, the Pixel phones got first dibs. However, Samsung is delivering its One UI 5 update its phones, and that brings Android 13.
Maybe being left in the dark is what Carl Pei wants. He’s been known to be one of the biggest hype lords in the tech space. In any case, we shall find out soon enough.


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© Reuters. FILE PHOTO: A explore reveals the designate of South Africa’s central reserve financial institution, on the reserve financial institution workplaces in Pretoria, South Africa, January 26, 2023. REUTERS/Siphiwe Sibeko
By Kopano Gumbi
JOHANNESBURG (Reuters) -South Africa’s central financial institution will seemingly lengthen its tightening cycle and push charges cuts further into the prolonged run amid countrywide energy outages and forex weak point, analysts said, at the side of to inflationary pressures straining businesses and households.
The South African Reserve Financial institution (SARB) – which is facing a predicament of maintain a lid on inflation with out further stifling already anaemic economic boost – has hiked its main lending price by 425 foundation aspects since November 2021.
Nonetheless inflation continues to run hot.
The next price choice is on Thursday, and a majority of economists surveyed by Reuters closing week demand a 25 foundation aspects (bps) hike to 8.00%.
Nonetheless some analysts, cherish Nicolaie Alexandru-Chidesciuc at JPMorgan (NYSE:), contain ramped up their forecasts, now expecting the financial institution to carry a 50 bps hike and predicting the first price lower would no longer come till neatly into 2024.
“The risk of worsening electricity cuts as neatly geopolitical issues after the U.S. ambassador claimed the country became once no longer acting in a non-aligned formulation in the Russia-Ukraine struggle contain enormously impacted the forex,” said Alexandru-Chidesciuc.
The outlook confronted by South African policy makers is at odds with other organising economies’ central banks, many of which contain entrance-run the U.S. Federal Reserve in their ice climbing cycles and are gearing as a lot as carry cuts in the arrival months.
This provides reduction at a time when boost woes for the world’s high two economies – the united statesand China – dominate. Amongst valuable rising markets, supreme Israel and Colombia contain recently raised charges. Hungary on Tuesday started the first policy easing cycle in Europe.
SARB Deputy Governor Rashad Cassim acknowledged in an interview with Reuters on Might 3 that price hikes were unpopular in a low-boost economic system but said the priority became once managing inflation expectations. Annual client mark inflation is working at over 7%, above the central financial institution’s target vary of three%-6%.
“We are searching out for to compose particular that the depreciated commerce price and (excessive) meals costs compose no longer permeate into other parts of the inflation basket,” Cassim said.
“If we did nothing, (client) earnings goes to erode increasingly extra. So maybe a little preliminary anguish may presumably maybe maybe safe advantage patrons in the medium to future.”
South Africans were already facing rising costs after COVID-19 and the Ukraine war disrupted provide chains. The power crisis has added to rigidity, as businesses, at the side of meals producers and stores, utilize extra on that you just shall be in a position to affirm choices a lot like diesel generators and bound on the costs to patrons.
The central financial institution estimates that rolling blackouts – which is in a position to closing as a lot as 10 hours a day – will add 0.5 share aspects to headline inflation in 2023.
The rand weakening extra than 10% this year makes imports extra dear.
“With the rand’s mountainous weak point and markedly increased production and retail costs coming from (energy cuts), the risk to the inflation outlook on balance is easy on the upside,” said Annabel Bishop, chief economist at South African lender Investec.
“We demand on balance that a 50 foundation aspects hike is extra seemingly … as an change of a 25 foundation aspects raise.”
Credit rating query has been rising as household incomes contain no longer saved up with costs, economists said, and increased borrowing costs may presumably maybe maybe magnify indebtedness.
The price of unique defaults on bank cards in the fourth quarter rose 20% year-on-year and those on home loans 19%, per a Eighty20/XDS credit stress memoir.
“Despite the fact that ardour charges come down on the least by 2025, we may presumably maybe maybe get out regarding the patron easy battling with the payment pressures they’d to take care of now, and the contrivance they’ll contain chosen to take care of them,” said Koketso Mano, senior economist at South African lender FNB.


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Mrs Peter Crouch — Abbey Clancy has gone in for a little boost! The 28-year-old stunner has chosen to become the face of a unique lingerie product that makes breasts look two sizes bigger.
English striker Peter Crouch's wife Abbey Clancy (left) with a model at the launch of a high-tech lingerie product in London recently. Pic/Getty Images
The product was made famous by actress Julia Roberts in the hit Hollywood flick Erin Brokovich. However, Clancy has been taken on board to highlight the unique technological advancements in the product that have made it three times lighter — just 76 grams.
The manufacturers are hoping to cash in on the massive 25-35 age bracket and Clancy, married to Stoke City striker Crouch and a mother of one, is a perfect fit, quite literally!


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The release of the PS5 massively renewed interest in console gaming. The PS5 even became something of a social media sensation thanks to its sleek, innovative design.
Other big-name developers were hot on the heels of the PS5 and a series of new consoles were released.
A year on from the launch of the PS5 and Xbox Series X/S, the discussion has shifted somewhat and now gamers are decrying the lack of games made for either of the next-gen consoles. The lack of games begs the question of what exactly the next-gen consoles bring to the table and when there will be another generation of consoles. So, why were these consoles launched in the first place?
The next-gen consoles
The PS5 and Xbox Series X/S were announced in 2019 and launched in 2020. The reason why they were both designed, created and launched is because Sony and Microsoft have two-year feedback cycles that follow the launch of every console. This is to ensure that the companies remain relevant in the market and continue to capture the attention (and dollars) of consumers.
The upside to this is that gamers with an extra $500 lying around can try out a new console every two years. The downside is that the products are not necessarily any better than the previous versions and it is environmentally wasteful to continue producing new consoles. In fact, there were reportedly many issues with the PS5, which is not surprising for a product with such a short development phase.
One of the main competitors to console gaming that many people did not see coming has been mobile gaming. Mobile gaming is becoming increasingly popular around the world and is set to overtake other forms of gaming soon in terms of popularity and market share.
One segment of the mobile gaming sector that has become particularly popular is the online gambling industry. Online gambling has essentially exploded in popularity over the course of the last 10 years, and there are now dozens of different online casinos looking to attract the attention of potential gamblers. Casinos such as Miracle Casinos are working to stand out from their competition through offering competitive registration bonuses and extensive libraries of games.
Looking to the future
No one knows what the future holds for gaming, but it looks as though console games could be on the wane. There are now more and more free games that millions of users around the world are playing on both PC and mobile applications. Additionally, the rise of virtual reality (VR) and augmented reality (AR) could provide a new source of competition for console games, especially as VR and AR technology improves.
That being said, console gaming provides a unique experience that many gamers prefer over any other type of gaming. As a result, there will likely always be a place for console gaming in the video game industry, even if it has to accept a smaller piece of the market share.


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Image messaging and multimedia mobile application Snapchat has topped tech giant Apple's list of 2016's most popular apps.
This shouldn’t come as a surprise as Snapchat’s popularity increased manifold this year courtesy innovative updates and the release of its first hardware product Spectacles. It is worth mentioning that Snapchat also made it to the list last year coming in at 5.
Apple Watch sales to consumers set record in holiday week, says Apple's Cook
As expected, some big names figured in the top 10 with Facebook’s Messenger taking second place followed by augmented reality sensation Pokemon Go.
Instagram , Snapchat’s biggest rival, took fourth spot.
Separately, the list for the paid category was topped by Heads Up! for the second time in a row followed by Face Swap Live and Minecraft: Pocket Edition.
Apple also released its 2016 editorial picks, crowning Prisma as the best iPhone app of the year and Clash Royale as the best iPhone game.
Most downloaded apps of 2016
3. Pokémon GO
7. Google Maps
10. Spotify Music
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HOUSTON, April 21, 2014 /PRNewswire/ -- As they approach their 2nd anniversary in The Woodlands, Bar Louie announced today they are celebrating with a 2-day event this Thursday, April 24th and Friday, April 25th. The anniversary bash will feature some amazing all day food specials including the $1 burgers they've immortalized on Tuesdays at their world famous "Burger Night" and a Buy One Get One Free offer on all of their Limited Additions food selections.
They'll also be featuring all of their handcrafted martinis for only $2!
"The theme for the event is go big or go home," says Bar Louie Marketing Manager, Amanda Utter. "The surprises in store for our guests are just a small token of appreciation for the unbelievable support we've received over the last 2 years."
Located at 24 Waterway Avenue in the heart of The Woodlands, Bar Louie is open for lunch, dinner and late night dining daily from 11 a.m. to 2 a.m. with the entire menu available until last call.
Founded in downtown Chicago in 1990, Bar Louie is an eclectic bar and eatery catering to guests looking for a casual, yet lively atmosphere. Known for their handcrafted signature martinis, they also feature an exceptional selection of appetizers, flatbreads, salads, burgers, sandwiches and "plates." While beer and wine connoisseurs will be impressed with the extensive selection of imports, beers on tap and wines by the glass, cocktail drinkers will revel in the 32 signature martinis, mojitos and margaritas made from premium liquors, fresh fruit and hand squeezed juices.
For more Bar Louie information, including franchise opportunities, visit barlouieamerica.com.
SOURCE Bar Louie


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© GETTY IMAGES NORTH AMERICA/AFP/File | Uber is among the companies testing self-driving cars
CAIRO – 11 November 2018: Parliament’s Energy and Environment Committee has started discussing the spread of electric cars in Egypt to replace gas-fueled vehicles.
Parliamentarian Abdel Hamid Demerdash proposed the topic and noted about the spread of electric cars globally.
Demerdash stressed that Egypt should benefit from experience of other countries in using electric cars.
“By 2040, all cars across the world are supposed to be electric,” said Husseini al-Far, a member of the Electricity Distribution Sector.
He noted that Egypt has been working on a concrete plan, in coordination with different ministries, to adopt the same global trend and use electric cars instead of gas-fueled cars.
“However, we still need more legislations on customs, tax and solar energy stations,” Far added.
In March, Trade Minister Tarek Kabil issued a decision allowing the import of used electric cars, on condition that they are no more than three years old.
Kabil said in a statement that the rules for importing cars in general do not allow the import of used cars, but an exception is permitted for electric cars to encourage the use of these environmentally friendly vehicles.
In addition to the electric vehicles’ contribution to reducing carbon emissions, they are also cost-efficient and are thereby exempted from custom duties, Kabil added.
The minister confirmed the ministry’s keenness to encourage the manufacture of electric cars in Egypt, especially after the launch of a network for the transport and maintenance of electric cars in Egypt.
Kabil said that many countries around the globe are heading towards using these kind of cars, with some countries, such as the United Kingdom, announcing that it will only allow electric cars on roads by 2040.
Unlike conventional vehicles that use a gasoline or diesel-powered engine, electric cars and trucks use an electric motor powered by electricity from batteries or a fuel cell, and therefore they are cleaner than the most efficient conventional vehicles.
Egypt has been working on boosting its car industry, with several companies expressing their interest to invest in the local automotive sector.
Kabil said in previous statements that the current investment in the auto industry is at about $3 billion; $1.6 billion in the automotive industry and $1.4 billion in the feeding industries.
Egypt’s car industry has about 170 companies, including 19 companies that manufacture and assemble passenger cars, buses, micro and minibuses, and transport vehicles, while more than 150 companies are engaged in manufacturing a number of car components.
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