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Spates of rumors on LG G3 have been making their way to website headlines these days. LG has decided to stay tight-lipped on this. As no official confirmation have been surfaced, the industry is abuzz with rumors. However, tech circuits have learned that rumors should be taken seriously as many rumors in the past have turned out to be true.
When discussing LG G3, we have something more than rumors. In August 2013, LG officially showcased an In-Panel Switching LCD which is 5.5 inch in size and has a Quad HD resolution of 2560 x 1440 pixels. At that time, sources said LG G3 will use the IPS LCD Panel in mid 2014. It’s almost beyond doubt thus, LG G3 will have 2K resolution, 5.5 inch screen and IPS Panel display.
ZDNet Korea predicted that LG G3 will be released in the second half of this year. This prediction is clearly in line with the recent speculations. Those speculations also suggest that the time release of LG G3 would be this year’s second half. Some sources even believe the release date is pegged for May 17.
If rumors are to be believed, LG G3 will launch with a 16MP back camera. The device will have LG’s flagship Octa-Core Odin processor. It was 2013 when an agreement was signed between ARM and LG. The agreement would give LG the license to use ARM’s Cortex-A50 series processors; the processors are 64 bit capable. LG’s Odin processor will be benefited out of this deal because LG could assemble its Odin processor based on that of ARM.
It has been reported by sources that LG is currently experimenting with a mobile chipset. The chipset is made by LG’s in-house technology. The same chipset bears the codename Odin. It will be available in two versions; quad-core and octa-core. The Odin processor is comprised of four Cortex-A15 processor clocked at 2.2 GHz and four Cortex-A7 processors, clocked at 1.7 GHz. While the octa-core Odin processor is said to arrive with LG G3, the quad-core Odin processor may find its place in LG Smart TV.
As for the release date, May 17 is not unlikely as Google may exhibit its Nexus 6 at the I/O conference which is scheduled to take place in June this year and LG G3 would reported to be the manufacturer of G3. If this rumors turns true, we may see a lot of similarities in design between LG G3 and Google Nexus 6.
LG G2 was released in 2013. After release, the Smartphone quickly got a lot of positive feedback for being feature-rich and user-friendly. The power button and the Volume rocker were on the backside of G2 unlike on the sides. This has significantly contributed to the phohe’s popularity.
But despite being well-received, the phone has failed to cash in on its uniqueness. LG sold so far more than 580000 units of G2 in domestic market. The global sale was more than 2 million however. G2 has made good business, but LG was expecting it to do better.
Other than G3, LG may also release G2 Mini, a small variant of LG G2. The phone could be launched for those consumers, who have budgetary constraint.


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Phil Worms, marketing and corporate communications director at cloud computing company iomart Hosting, looks back on an incredible summer for social media.
iomart Hosting is proud to be sponsoring this year’s Social Buzz Awards which recognise and reward effective social media strategies.
Today is judging day and as members of the panel spend time banging their heads as they debate their favourite online campaigns we thought we’d look back at the Olympian impact that social media has had this year.
It’s been less than three weeks since the Paralympics brought an incredible summer of sport to an end in the UK, yet the impact that social media had in those few extraordinary weeks will live on for a long, long time.
You just have to look at the statistics released by Twitter. The Olympics alone generated 150 million tweets. That’s not just words, that’s media rich content.. photos, video, words.
Usain Bolt was the big winner – not just on the track. Bolt ran the 100 metres in just 9.63 seconds and by the time he reached the finishing line over 2 million items had been shared.
Inside the Olympic Stadium spectators weren’t just taking photos they were holding up smartphones and iPads to catch video of events and share it.
For Team GB the Games were momentous not only in achievement but in the profile created for the team by the use of social media. Athletes’ names trended on Twitter as they shared their thoughts and behind-the-scenes insight like never before.
All of the above was not just created by some random upsurge in public interest. This was fired by organisations, companies and brands preparing for what was heralded as the first truly social media Olympic Games. Some got it right - the BBC running content across multiple platforms, companies like Lloyds TSB supporting the Torch Relay across its customer base – while others, including big brand sponsors like McDonalds and Atos spent the Games defending their brands after negative reaction.
Social media is immediate, it’s global and because it’s about people it’s hard to control it. You can’t get in the mind of every person on Facebook or Twitter and you can’t control their reaction. Even the most well thought out campaign can end up unintentionally as one gigantic #fail. So those campaigns that are successful really do deserve a big slap on the back. They’ve been carefully planned, carefully managed and carefully executed in order to have a positive impact. And that takes great skill.
Clever and effective use of social media is now a given for anyone wanting to achieve a successful marketing or media campaign. Whether it is people, products or policies you’re promoting, the right social media strategy is a vital part of your media mix.
So, we look forward with great interest to see which campaigns got it right and will be selected for the Social Buzz Awards shortlist and hope we can all learn something from them to add to our own campaigns over the coming months.
Once today’s judging is over, the nominations will be revealed via a live blog at thedrum.com at 3pm on 5th October and the results revealed at the awards ceremony on 28th November.
iomart Hosting would like to wish everyone who’s entered the very best of luck.
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Opinion, blogs and columnists - call them what you like - this is the section where people have something to say. You might agree or you might not - whatever opinion you have make your views known in comments. Views of writers are not necessarily those of The Drum. If you would like to contribute a comment piece, email your idea to email@example.com.

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Thu, 21 May 2015 10:34:14 GMT
As we explain below we are certain that the new Windows update known as 'Threshold' will grow up to be Windows 9. And we expect Windows 9 to launch at some stage in early 2015, probably April 2015. This week we have seen what its claimed are leaked ...and more »
Tue, 19 May 2015 16:24:48 GMT
Windows 10 is almost here, and it looks pretty exciting. The new OS has a chance to succeed where Windows 8 failed by being both a traditional desktop operating system for PCs and laptops, and an OS which works properly on smartphone and tablet ...and more »
Mon, 11 May 2015 08:35:14 GMT
Microsoft Corporation announced that it will unveil Microsoft 10 in the future. It is also expected that the new version of Microsoft will first debut this summer. Though it is true that many people are happy and excited about the company's ...
Wed, 27 May 2015 13:46:17 GMT
Microsoft has announced it will release new software called Phone Companion for Windows 10, as well as new and mobile apps that will give Android and iPhone owners a better experience when they use their phones with both the new desktop OS ...
Wed, 27 May 2015 20:29:27 GMT
During an assuredly jam-packed keynote on June 8, Apple is expected to announce not only a re-imagined Apple TV set-top box and the next major release of OS X, but also an update to iOS — version 9 — that'll pack new features that anticipate the ...
Wed, 27 May 2015 17:37:51 GMT
Milla Jovovich plays a falsely accused Foreign Service Officer who works to thwart a terrorist plot as she runs from the authorities in “Survivor,” a sturdy wrong-woman thriller that feels grotesque in its citations of 9/11 and other intimations of ...and more »
Wed, 27 May 2015 15:32:22 GMT
WWDC, much like Apple's previous media conference event on March 9 — where they displayed the Apple Watch and 2015 Macbook — will serve as a platform to launch several new products and showcase the innovative hardware and software features that these ...and more »
Wed, 27 May 2015 13:29:01 GMT
The recently released Microsoft Surface 3 tablet apparently comes with "full Windows experience," unlike the earlier Windows RT. Looking back at the history, Phone Arena says, Microsoft's two-in-one Surface Pro 3 tablet was marketed as a ...
Wed, 27 May 2015 10:12:04 GMT
OREM, UT - SEPTEMBER 18: Apple's iPhone 6 (L) and iPhone 6 Plus (R) boxes and phones are shown together at a Verizon store in Orem, Utah on September 18, 2014 in Orem, Utah. Apples new iPhone 6's go on sale tomorrow September 20, 2014. (Photo ...and more »
Wed, 27 May 2015 13:43:01 GMT
Prior to Apple's 9 March event, there were some rumours to suggest that the company might debut its new music streaming service then. However, we're now expecting it to be shown off for the first time during WWDC 2015, which is set to kick off on 8 ...and more »


text: Generally speaking, distributors categorize their customers into TBMs (Taiwan-based merchants), CBMs (China-based merchants) and MBMs (multination-based merchants). Production bases are being moved to ASEAN and South Asia, with large parts of their components supplies still coming from China and Hong Kong. But the major manufacturers remain Taiwanese. Semiconductors seemingly imported from China and Hong Kong actually come from Taiwanese makers. The OEMs still play an important role in determining how the components are distributed.


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If it is to believe, we might not be getting the Stalker game up until 2021. Well great news, recently game developer G.C.S studio announced a sequel! The headquarters of GSC Game World in Kiev.
Even though the studio was recently facing many struggles, trial, and tribulations, studio GSC claimed in 2011 that they were going to stop development.
Finally, it looks like this game will be seeing the light of day after a long nuclear winter.
HTC Announces Plans For A Blockchain Smartphone
CryptoCurrency? Well, HTC thinks there's a lot of interest in it, so much so they're developing a blockchain friendly smartphone. In terms of specifications, the Finney blockchain phone comes with a Qualcomm Snapdragon 845 processor.
S.T.A.L.K.E.R. 2 website landing page. A new S.T.A.L.K.E.R. is like a Russian Half-Life 3. With a story that includes supernatural influence its no wonder how this game has garnered the fame that it has.
Yesterday we reported on a "gorgeous and terrifying" visual overhaul mod for Stalker: Call of Pripyat that brings a suite of updated visual effects to the cult-classic shooter.
I didn't think we'd ever see a numbered sequel to 2007's S.T.A.L.K.E.R.: Shadow of Chernobyl, a game that will probably still be getting new mods long after we're all gone, but these are unusual times.


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Digital TV News: Brightcove
Brightcove publishes Asia OTT TV research report
Jun 17, 2019 – Brightcove (NASDAQ: BCOV) has published its annual Asia OTT TV market study. The study polled 9,000 participants across the following nine countries: Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, Taiwan, Thailand, and Vietnam.
News categories: Brightcove, YouGov, Greg Armshaw, Asia, Digital TV, Market Research, OTT
Thirty-nine more companies join the SRT Alliance
Mar 21, 2019 – The SRT Alliance has announced that 39 more companies have recently endorsed the SRT protocol for low latency video streaming, including broadcast industry giants Imagine Communications, Net Insight, Red Bee Media and Telestream.
News categories: SRT Alliance, David Heppe, Steve Russell, Content Distribution, Digital TV, Media Player, NABShow, OTT, Worldwide
MVMNT TV using Brightcove to launch apps for multiple platform
Mar 1, 2019 – Brightcove (NASDAQ: BCOV) has announced that MVMNT TV is using its technology to launch multiple platform apps across Apple TV, Amazon Fire, iOS, Android, and Google Chromecast. The developments will use Brightcove OTT Flow, powered by Accedo.
News categories: Brightcove, MVMNT TV, Accedo, Rick Hanson, Erik Jetmir, Apps, Digital TV, OTT, USA
Brightcove to acquire Ooyala’s online video platform business
Feb 13, 2019 – Brightcove (NASDAQ: BCOV) has announced that it agreed to acquire the online video platform (OVP) business of Ooyala. Brightcove intends to take on all customer, reseller, and partner relationships utilized by Ooyala’s OVP business globally.
News categories: Brightcove, Ooyala, Jeff Ray, Jonathan Huberman, Big Data, Content Distribution, Digital TV, MnA, Worldwide
Brightcove releases research on consumer video streaming preferences
Dec 18, 2018 – Brightcove (NASDAQ: BCOV) has announced the results of its 2018 Global Consumer Streaming Habits Survey, analyzing global consumer consumption preferences across generations when it comes to live and on-demand streaming video content.
News categories: Brightcove, Sara Larsen, Australia, Canada, Digital TV, France, Germany, Market Research, Mobile, OTT, Spain, UAE, USA
Brightcove commissions study of pay and OTT TV in Taiwan
Oct 29, 2018 – Brightcove (NASDAQ: BCOV) has announced findings from a study carried out with YouGov and Cleeng. The study highlighted trends in video consumption, preferences towards cable TV and OTT TV services, motivators that drive pay TV and OTT TV adoption, and payment preferences in Taiwan.
News categories: Brightcove, Cleeng, YouGov, Ben Morrell, Digital TV, Market Research, Taiwan
Indonesia's Metranet selects Brightcove for streaming to its OONA app
Oct 7, 2018 – Brightcove (NASDAQ: BCOV) has announced that its video platform has been selected by Metranet, a subsidiary of Telkom Indonesia, to launch OONA, a mobile app designed to deliver both live linear and VOD experiences to audiences on the go.
News categories: Brightcove, Metranet, OONA, Ben Morrell, Widi Nugroho, Advertising, Apps, Content Distribution, Digital TV, Indonesia, OTT
Brightcove and Evergent provide TV-everywhere integration for BBC Player
Sep 14, 2018 – Brightcove (NASDAQ: BCOV) and Evergent have announced their engagement with BBC Studios, enabling the company to seamlessly integrate and authenticate its BBC Player products with telecommunications providers globally.
News categories: Brightcove, Evergent, BBC Studios, Mark Blair, Vijay Sajja, Shad Hashmi, Content Distribution, Digital TV, Mobile, OTT, Worldwide
Funbox goes OTT with Brightcove OTT Flow X, powered by Accedo
Sep 6, 2018 – Accedo and Brightcove have announced that one of Vietnam’s most popular VOD services, Funbox, aims to add one million new users when it launches on iOS, Android, Web, Roku devices and Smart TVs in 2019.
News categories: Accedo, Brightcove, Funbox, Matt Kossatz, Ben Morrell, Minh Thien, Digital TV, IBCShowcase, Mobile, OTT, UX, Vietnam
- HBO Max to expand into Latin America and Europe in 2H 2021
- SpotX releases 2021 video advertising trends report
- Comscore and MediaMath offer programmatic contextual ad targeting
- NetRange cloud app portal selected by itel for new Smart TVs
- Vewd integrates support for BML and Hybridcast
- Nordic streaming market approaching 14 million subscriptions
- Discovery announces global launch of discovery+
- VUALTO DRM selected to protect France Télévisions' AV content
- FreeWheel and NBCUniversal automate linear ad decisioning
- Deltatre AXIS to power BritBox for a further five years
- Zappware enables WIND VISION on PCs in Greece
- InterDigital and Futuresource release video sustainability report
- Local broadcasters collaborate to launch NextGen TV in Florida
- Highest ever Samsung Smart TV sales in 3Q 2020
- Orange France delivers targeted ads with SoftAtHome video player
- Velocix unveils cloud-native video personalisation service
- DIRECTV GO now available in Brazil
- VR consumer content revenue to exceed $7 billion in 2025
- Inverto first with EICS TV distribution equipment certification
- XroadMedia to power hyper-personalization at ZEE5


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MUMBAI: Aditya Birla Fashion and Retail Ltd (ABFRL) is grappling with two things primarily. On one hand, it has to deal with the adverse consequences of covid-19 and on the other hand, it has high debt.
The branded apparel company’s net debt at the end of March stood at ₹2,500 crore. Reducing debt is essential. ABFRL is looking to raise ₹1,000 crore through a rights issue. One of the main aims of this issue is to lower the debt.
“Debt build-up is a concern, though we believe some unwinding should happen in financial year 2021,” said analysts from Kotak Institutional Equities in a report on 28 May.
Meanwhile, ABFRL’s March quarter results, announced on Wednesday after market hours, show the hit to financials because of covid-19.
Standalone revenues declined 5% year-on-year to ₹1,817 crore in the March-ended quarter. Even though January and February saw growth momentum, performance in March was hit due to the lockdown to contain covid-19, which in turn weighed on overall performance. The company estimates loss of revenues to the tune of ₹340 crore during the quarter. However, under a normalised scenario, revenues growth would have been 13%, according to ABFRL.
Earnings before interest, tax, depreciation and amortisation (Ebitda) stood at ₹156 crore. Although, adjusting for Indian Accounting Standard (Ind-AS) 116 changes, comparable Ebitda shows a loss of ₹57 crore, pointed out analysts.
After the March quarter, outlook for the current quarter remains subdued as well. “Given the high fixed-costs nature of ABFRL’s business, we reckon that the June quarter financials would look far worse than the March quarter, given that turnover for that quarter could be down about 75-80%,” said brokerage firm JM Financial Institutional Securities Ltd in a report on 27 May.
Having said that, it is encouraging that the company has told analysts that it would consider several cost cutting initiatives. Investors would do well to follow progress on this front in the medium-term.
It also helps that more than 1,300 stores of ABFRL’s network of 3,041 stores are operational now.
On Thursday, ABFRL’s shares rose about 9%. The rights issue to deal with the debt and cost cutting measures are being viewed positively. Despite the gains, the stock has seen a sharp correction of close to 60% from its 52-week highs seen in February.


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CADILLAC, Mich. – Wellcraft has launched a new consumer website, as part of the company’s ongoing marketing launch for 2016. The new site is designed to showcase the 2016 lineup of boats and provide the shopping consumer the best experience possible.
The new website is designed to deliver an inspiring experience for the user while optimizing the company’s digital marketing efforts. The new website includes a content management solution that allows for timely site edits and changes within a marketing friendly, in-context editor. In addition, a Build-a-Boat solution has been integrated and includes desktop, tablet and mobile capabilities.
“We’re fully committed to the Wellcraft brand and delivering new models to market,” stated Roch Lambert, Rec Boat Holdings president. “It has been exciting to re-energize the brand with new product. Wellcraft has tremendous consumer awareness and with our new boats and marketing investments we feel confident in a successful new model year ahead.”
The company has launched the 2016 model year with several new models. The new website is part of a larger integrated marketing plan for the brand, which includes extensive print and on line advertising campaigns, e-blast efforts, social platform expansion and a program agreement with Ship Shape TV.
The company is seeking new dealers to fill out an already strong performing network. If you are interested in a potential dealership opportunity, please contact Andy Gamble at 231-779-2315, or firstname.lastname@example.org.
Visit the new Wellcraft consumer website at www.wellcraft.com.


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Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic fairness market benchmarks BSE Sensex and Nifty 50 had been prone to open in inexperienced on Wednesday, a day earlier than weekly F&O expiry. Nifty futures had been buying and selling 16 factors or 0.09 per cent up at 17,407 on Singaporean Exchange in early commerce. In the earlier session, the 30-share Sensex ended 69 factors or 0.12 per cent up at 58,247, whereas the Nifty50 index shut store at 17,380, up 25 factors or 0.14 per cent. Asian stock markets had been buying and selling decrease in early offers on Wednesday. Japan’s Nikkei declined 1.05 per cent whereas the Topix index slipped 1.41 per cent. South Korea’s Kospi shed 0.28 per cent. In in a single day commerce on Wall Street, US stock indices ended decrease. The S&P 500 fell 25.68 factors, the Dow Jones Industrial Average fell 292.06 factors, and the Nasdaq fell 67.82 factors.
Amid a raging row over the hefty taxes on petrol and diesel, the Goods and Services Tax (GST) Council will deliberate on Friday on bringing petrol and diesel below the GST regime at the same time as it’s set to kind out the vexatious concern of whether or not and methods to compensate states for any GST income shortfall past June 2022, sources advised FE. As per Article 279A (5) of the Constitution, the Council shall advocate the date on which GST shall be levied on all excluded merchandise, i.e., petroleum crude, high-speed diesel, motor spirit (petrol), pure fuel and aviation turbine gasoline.


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In June 2012, FSC Franchise Co., LLC acquired the rights to franchise The Brass Tap, the emerging chain best known for its more than 300 craft beers, premium wines, live music and extravagant cigars. Now, one year later, the Tampa-based franchise has caught on like wildfire — growing from three to eight locations and signing an additional 32 franchise agreements. The Brass Tap is also venturing outside its home state of Florida after signing milestone franchise agreements in Texas, Ohio, New York, Illinois, Arizona, and Michigan.
Since its inception in 2007, The Brass Tap has generated a cult-like following throughout Florida by highlighting local craft breweries through regular promotions and tasting events and by rotating its taps recurrently. The Brass Tap's rapid growth is reflective of the booming craft beer industry as a whole, which totaled $10.2 billion in 2012, up from $8.7 billion in 2011 according to the Brewers Association.
"The Brass Tap has an incredibly unique and competitive position in the marketplace, and while the demand for craft beer bars seems to grow daily, competitors continue to be limited," says James Walker, chief development officer of The Brass Tap. "Consumers and entrepreneurs alike have responded favorably to our concept, and while we're thrilled with what our team has accomplished in the past year, we're even more excited about what's to come."
Among those things on the forefront for The Brass Tap is a major growth emphasis on development into nontraditional venues. In February 2013, The Brass Tap introduced prototype designs tailored exclusively for both airports and casinos.
Today, Jeff Martin, Gary Bailey, and Steve Slowey, the original founders of The Brass Tap, continue their involvement with the brand as shareholder, partners, and franchise owners.


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The “Intel Inside” trademark that tells PC users their computer is powered by an Intel chip is the inspiration for a new Intel partnership with cloud computing companies. More than a dozen cloud service providers from numerous countries will make it clear that their virtual machines are “Powered by Intel Cloud Technology.”
But it’s not just a marketing gimmick, according to Intel. The program’s guidelines require cloud providers to say exactly which Intel chip is inside the virtual machines and to provide performance statistics, making it easier for customers to determine which will be the most cost-effective.
Amazon was the first in the program last September. New entrants today include Savvis, Rackspace, Expedient, Virtustream, OVH, Selectel, Cloud4com, Canopy, UOL Host, LocaWeb, KIO Networks, NxtGen, and KT.
via Ars Technica http://ift.tt/1dvMqgL


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Video streaming service Amazon Prime Video has just revealed new information about its web series, Four More Shots Please. As part of the new information, the company shared the first poster of the second season on its Twitter handle. In addition, Prime Video also revealed the release date of Season 2. Amazon Prime Video subscribers will be able to binge-watch the new season on April 17. Season 2 of the series comes more than a year after the premiere of the first season. For some context, Four More Shots Please is a women-centric romantic comedy-drama. Also Read - ACT Stream TV 4K users can now stream Amazon Prime Video
Four More Shots Please Season 2 release details
The series stars a healthy mix of performers including Sayani Gupta, Kirti Kulhari, Bani J, and Maanvi Gagroo. It also features supporting roles from Prateik Babbar, Lisa Ray, Milind Soman, Neil Bhoopalam, Simone Singh, and Amrita Puri. Amazon revealed that the second season is directed by Nupur Asthana. Amazon Prime Video renewed the show for a second season back in June 2019. This move was interesting as Season 1 received ample criticism from viewers and critics. The showrunners Rangita Pritish Nandy and Ishita Nandy will also likely improve on the weaker portions of the first season. Also Read - Amazon Prime members cross 150 million: CEO Jeff Bezos
Watch: Samsung Galaxy S20+ First Look
Four More Shots Please Season 2 will be the fourth original Indian series to launch on Amazon Prime Video in 2020. Taking a look back, the original series effort kick-started this year with the launch of The Forgotten Army followed by Afsos. Beyond this, Amazon Prime Video is set to launch Season 2 of comedy-drama series, Pushpavalli on March 13. Also Read - Binge watching on Netflix, Amazon Prime is harming you: Report
The video streaming platform will launch multiple stand-up specials this year. Amazon Prime Video subscribers will catch specials from Rohal Joshi, Ashish Shakya, and Naveen Richard. The platform has also scheduled to launch the Naveen Richard comedy special on March 20, 2020. The launch date of Four More Shots Please comes just around the unofficial launch of Disney+ in India.


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The luxury division of Detroit-based General Motors is moving into one of the fastest growing segments of the U.S. auto industry with the new crossover. The new small crossover fits beneath Cadillac’s XT5 midsize crossover and large Escalade SUV.
Sales of crossovers in the U.S. rose 8 percent last year to almost 5.4 million vehicles. The segment made up 31 percent of the market, according to Autodata Corp., an industry research firm.
Cadillac wants the XT4 to tap into that growth, said Stephanie Brinley, an analyst with IHS Markit.
“The first-ever 2019 Cadillac XT4 expands our successful SUV lineup to a segment where Cadillac has never been before,” said Cadillac President Johan de Nysschen. “And it sets off a dramatic expansion and elevation of the product range, that will see a new Cadillac virtually once every six months through 2021.”
He said Cadillac expects the XT4 to quickly become the best seller in the luxury compact crossover segment. It would have to beat several established nameplates, including the Lexus NX, Acura RDX, Mercedes-Benz GLC and the BMW X3. Acura will be showing off its redesign of the RDX at the New York show.
The brand needs a high volume seller in the U.S. Cadillac’s U.S. sales fell 8 percent last year to less than 157,000 vehicles. It trails luxury brands leaders including Mercedes-Benz, BMW and Lexus.
Cadillac, which keeps a separate divisional headquarters in New York, is making a strategic move to debut the vehicle at the show.
The New York market had the highest proportion of luxury and premium brand sales among the major metropolitan areas last year. Luxury vehicles accounted for 22.7 percent of registrations in the region in 2017, according to IHS Markit. That compares with 12.4 percent on the national level.
The XT4 Cadillac will come in three available models: Luxury, Premium Luxury and Sport.
Interior creature comforts include a leather wrapped steering wheel and seats.There also an in-cabin ionizer and available white ambient lighting.
The crossover focuses on rear space – it will have a segment-leading 39.5 inches of legroom. The cargo area offers to 48.9 cubic feet of space when the rear seats are folded down.
The XT4 balances style and comfort on long drives and still offers “excellent” cargo room for weekend getaways that require bulky gear, like skiing, said Jim Fleming, exterior design director for Cadillac.
All models offer 15-watt wireless device charging. The infotainment system is displayed on an 8-inch screen, which can be integrated with the user’s smartphone. It also gets Cadillac’s first rotary controller, an alternative way to interact with the system that has shortcut buttons to a home screen as well as for favorite apps and basic audio control.
There are four standard USB ports and three 12-volt power outlets.
Standard safety technology includes rear park assist. The Luxury Premium and Sport models get front park assist, lane change alerts with blind spot monitoring and rear-cross traffic alerts. Additional driver assistance technology features are available with package upgrades.
Under the hood sits an all-new Cadillac 2.0-liter turbo four-cylinder engine that makes 237 horsepower and 258 pound-feet of torque. The engine is equipped with is mated to a 9-speed automatic transmission. GM estimates the XT4 will get 30 mpg in highway driving, 25 in the city and 27 combined. It has not yet been rated by the Environmental Protection Agency.
The XT4 comes with 18-inch, 10-spoke silver wheels and a mesh front grille, though the polish varies depending on trim level. There are 20-inch wheels available.
There will be front and rear LED lighting on all trims, but the Sport will get clear taillight lenses compared with the traditional red on the other versions.
A cold weather package also is available.
There are six “metallic” paint colors including Atlantic Metallic, Autumn Metallic, Twilight Blue Metallic, Shadow Metallic, Stellar Black Metallic and Radiant Silver Metallic. It also comes in black and red.
The price of the XT4 will start at $35,790 when it goes on sale this fall. It will be built at GM’s Fairfax assembly plant in Kansas City.


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“The mobile internet has made it much harder for parents to monitor what their children are viewing – they simply cannot be everywhere or looking over their children’s shoulders all the time. As such, mobile operators have a moral obligation to provide safeguards that limit the access of children. Operators should consider self regulation and their social responsibility, as regulators may soon demand that operators implement methods to protect children,” cautioned Tom Allen, head of the firm’s information, communications and media business.
Allen said that of the users that participated in the YouGov survey, 71% believed operators should be accountable for monitoring and addressing harmful content over mobile devices. When asked about ways to stop children from accessing harmful content on their mobiles, he said the research found that over half (58%) of respondents agreed that barring sites and content according to the age of the phone owner would be effective.
“The internet was developed to share information, but we must be sensible about what younger generations can access. As the internet becomes more accessible due to new delivery platforms such as mobile phones and games consoles, it’s increasingly important we find ways to protect our children from inappropriate content.”
According to the research, another preferred method would be to provide individual users with a pin code that reflects the user’s age and limits the type of content children can access. Alternatively, respondents agreed with implementing an SMS warning system that would send a message to a nominated ‘Parent phone’ when a child accesses a harmful site. Both these measures had 46% approval of the participants.
Allen said that, despite their concerns, people may not be willing to share the type of personal data, such as age, that is needed for operators to provide the appropriate security. According to the research http://www.icm.mottmac.com/news/?id=248225 conducted in December 2008, more than one in three people would be unwilling to reveal personal data to their internet service providers for security purposes whiles online.


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Amazon on Tuesday reported it agreed to an $8 billion term loan with lenders, according to a Securities and Exchange Commission filing.
The loan is set to mature in 364 days, with the possibility to be extended for an additional 364 days — at which point the interest rate spread would increase. Toronto Dominion acted as the loan agreement administrative agent, with the list of lenders including Mizuho Bank and National Westminster Bank.
“Like all companies we regularly evaluate our operating plan and make financing decisions – like entering into term loan agreements or issuing bonds – accordingly,” an Amazon spokesperson told Retail Dive via email. “Given the uncertain macroeconomic environment, over the last few months we have used different financing options to support capital expenditures, debt repayments, acquisitions, and working capital needs.”
The e-commerce giant warned in October that profits could disappear in its fourth quarter. Its Q3 earnings report showed that revenue from services grew more year over year than revenue from retail online and in-store. For the quarter, operating income decreased 48% from $4.9 billion to $2.5 billion while net income fell 9%.
After hiring rapidly over the past few years, Amazon enacted layoffs in November, with plans to cut about 10,000 jobs, according to The New York Times. CEO Andy Jassy later said more layoffs would come in 2023 as part of its annual operational review, which he noted was “more difficult due to the fact that the economy remains in a challenging spot and we’ve hired rapidly the last several years.”
Meanwhile, the European Union announced rules in December intended to make Amazon’s e-commerce marketplace a more even playing field. The rules included restricting the use of seller’s data and improving seller access to the “buy box,” all of which E.U. Executive Vice President and Commissioner for Competition Margrethe Vestager says will end the company’s preferential treatment of its own retail operations by the summer.


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Disneyland Paris to Feature 200 Drones in 30th Anniversary “Disney Illuminations” Preshow Called “Disney D-Light”
Disneyland Paris will be featuring a special 30th Anniversary preshow before Disney Illuminations called Disney D-Light. It will include 200 drones! Disneyland Paris shares a look at the drones in this behind-the-scenes look at the making of the preshow. Disneyland Paris has been secretly testing these drones in Bordeaux. Watch the video below, and there is more information from Disneyland Paris after!
At nightfall, a new spectacular emotional moment will be offered for Guests before one of their favorite shows Disney Illuminations. Called Disney D-Light, this new pre-show will combine video projections, illuminated water jets, lighting effects, mist, famous Disney songs, and above all, drone choreography to bring an additional touch of Magic around the iconic Castle, that has been renovated for the occasion. Filled with special effects, the different scenes will transform the Castle as never before.
To kick off the celebration and for a limited time, a light and air show featuring 200 drones* – designed with the assistance of European expert Dronisos, Official Technology provider based in Bordeaux – will be performed so as to end this new nighttime pre-show in an unforgettable way. These synchronized drones will form a sparkling figure “30” in the sky right above Sleeping Beauty Castle, while the new theme song created for the 30th Anniversary – “Un monde qui s’illumine” – will be played in the background. The soundtrack was recorded with a symphony orchestra at the famous Abbey Road Studios in London, and arranged in a different way for this pre-show, to make it even more emotional.
It will be the first time a Disney Park uses the drone technology as part of a daily outdoor show above its Castle. This innovation is a new step forward in the development of experiences that are always more immersive and spectacular for Disneyland Paris Guests, where technology paves the way for emotions!


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BC Partners, Bain Consider Offers for Vitamin Firm Nature’s BountyBy , , and
Some firms may make offers for U.K. unit Holland & Barrett
Entire company could fetch a value of as much as $6 billion
BC Partners and CVC Capital Partners would consider offers for the entire company, the people said, asking not to be identified because the talks are private. Bain Capital and Xio Group are also weighing bids, and some firms may make offers just for Nature’s Bounty’s U.K. unit, Holland & Barrett, they said.
Still, Carlyle would prefer to sell the company whole, one of the people said. The sale process is at an early stage, and no final decisions have been made, they said. The entire company could fetch a value of as much as $6 billion in a sale, people familiar with the plan said last month.
Carlyle hired advisers to explore either a sale of Nature’s Bounty or Holland & Barrett separately, the people said. Any transaction would add to the $130.7 billion of consumer deals announced globally this year, data compiled by Bloomberg show.
Representatives for Carlyle, BC Partners, CVC, Xio and Bain declined to comment.
Carlyle agreed to buy the Ronkonkoma, New York-based firm, whose brands include “MET-Rx” and “Pure Protein,” in September 2010 in a deal taking the company private valued at about $3.8 billion.
— With assistance by Sarah Syed, and Vinicy Chan


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You’d be forgiven for thinking Samsung might be first to unleash a QHD (2560 x 1440) AMOLED display, having announced it was beavering away on such a beast earlier this year.
But nope, that particular accolade goes to the lesser-known AU Optronics, which produces displays for multiple manufacturers, including – you guessed it – Samsung.
Taiwan’s AU Optronics officially declares the world’s highest resolution AMOLED panel over on the AUO News Center, with some chick in a short skirt (obviously) holding it aloft for all to see.
Spreading those 3.68 million pixels (count ‘em) across a 5.7in display yields a PPI rating of 513.
AU Optronics is reportedly brewing a 6in QHD AMOLED display, too, while Samsung will likely announce something soonish.
Of course, the key word here is AMOLED; we’ve already seen a small handful of non-AMOLED QHD smartphones, including the Oppo Find 7 with its 5.5in 2560 x 1440 (538PPI) display.
It doesn’t seem that long ago that Martin described Full HD 1080p displays (how quaint!) as “a bit of a Holy Grail for smartphone makers”, but the advances in mobile display technology continue unabated.
For an interesting wee chat about the merits of higher resolution displays, hit up this here thread.


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Steinhoff International plans to list its African assets separately following this year’s failed merger talks with South Africa’s Shoprite. The company said that it will seek to list businesses including clothing retailer Pepkor and furniture chain JD Group on the Johannesburg Stock Exchange, about 18 months after moving its primary listing to Frankfurt from the South African commercial hub. Steinhoff will retain a controlling interest in the new company.
Tags: Mergers & Acquisitions, Divestitures, Middle East & Africa, South Africa, Steinhoff International
Based on: Mergers & Acquisitions, Divestitures
We track the latest and most innovative retail developments and topics that promise to impact your future business. From new store prototypes and technology breakthroughs to perspective on the shifting retail landscape, this is your stop for what we believe to be the most transformational topics that you need to be preparing for.


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We are continuously working on improving our processes and are taking innovative paths in the process.
Despite the corona pandemic, we were able to achieve a sales growth of 15.8% while maintaining our high level of service.
We do not just talk about sustainability, we put our sustainability strategy into practice as well.
Lonza and NextPharma announced an agreement for the potential sale of Lonza's Ploermel (FR) and Edinburgh (UK) sites.
Bielefeld (Germany): Kinder- und Jugendhospiz Bethel – Bielefeld
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NextPharma invests €15 million to increase oral solid dosage form manufacturing and packaging capacity at its Göttingen site.
NPL expand storage capacity by more than 70% from October 2020


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Sports uniform maker expands in San Marcos
Teamwork Athletic Apparel has leased a 41,000-square-foot facility in San Marcos to house its apparel cutting operations and materials storage.
The company, which employs 250 in San Marcos, makes athletic uniforms for schools and recreational facilities.
The new facility, which was leased for $1.2 million for 60 months, is the fourth building that Teamwork will occupy. The company owns three other buildings.
firstname.lastname@example.org (619) 293-2264


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America’s two biggest pharmacy chains are attempting to reverse their sagging fortunes by becoming go-to treatment centers for people with chronic illnesses.
CVS Health and Walgreens Boots Alliance are remodeling hundreds of stores into medical-service centers targeted at customers with conditions like diabetes, heart disease and hypertension. The idea is to make customers just as likely to stop in for medicine, consultations and lab tests as for lipstick or a candy bar.
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Five more states just moved toward greater legalization of pot in November. And a Biden big blue wave win has now been confirmed and will also possibly usher in a federal decriminalization shift that could spur further changes that benefit current players in the cannabis space.
With the bull market in gear, the cannabis space has been one of the most dramatic beneficiaries, as growth estimates ratchet higher and excitement builds.
In other words, pot stocks are hot and running on tailwinds from legislative momentum and stock market enthusiasm, especially for speculative high-growth plays.
With that in mind, we take a look here at a handful of stocks that we think could be some of the most compelling opportunities in the space, including: Sundial Growers Inc (NASDAQ:SNDL), GrowGeneration Corp (NASDAQ:GRWG), MedX Holdings Inc (OTCMKTS:MEDH), and Cresco Labs Inc (OTCMKTS:CRLBF).
Sundial Growers Inc (NASDAQ:SNDL) trumpets itself as a licensed producer that crafts cannabis using state-of-the-art indoor facilities. The company cites its ‘craft-at-scale’ modular growing approach, award-winning genetics, and experienced master growers as the factors that set it apart from the competition in the rapidly growing cannabis space.
Sundial’s brand portfolio includes Top Leaf, Sundial Cannabis, Palmetto and Grasslands. Our consumer-packaged goods experience enables us to not just grow quality cannabis, but also to create exceptional consumer and customer experiences.
Sundial Growers Inc (NASDAQ:SNDL) most recently announced that it has launched high-quality cannabis derivative products under the Top Leaf brand in response to rising consumer demands for solventless cannabis extracts. This most recent launch is consistent with Sundial’s focus on premium inhalables, following branded retail offerings of flower, pre-roll and vape cartridges.
“We made a strategic decision to produce these premium products based on demand for solventless, flavorful, pure, and potent cannabis concentrates from a growing group of consumers,” said Andrew Stordeur, President and Chief Operating Officer of Sundial. “Our control of the entire manufacturing process from cultivation to extraction enables us to deliver premium quality products on a consistent basis. Adding bubble hash and other advanced concentrates to our product portfolio will expand Sundial’s share of this rapidly expanding market segment.”
And the stock has been acting well over recent days, up something like 24% in that time. Shares of the stock have powered higher over the past month, rallying roughly 32% in that time on strong overall action.
Sundial Growers Inc (NASDAQ:SNDL) generated sales of $9.7M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of -33.8% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($19.7M against $76.6M, respectively).
GrowGeneration Corp (NASDAQ:GRWG) owns and operates retail hydroponic and organic gardening stores in the United States. If you’re looking for a red-hot name in the cannabis complex, GRWG is tough to beat.
The company carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers.
GrowGeneration Corp (NASDAQ:GRWG) just yesterday reported preliminary record full-year 2020 revenue of $192 million, versus $80 million for 2019, an increase of 140%. As the Company continues to outpace guidance, it is increasing its 2021 revenue guidance range to $335 million-$350 million.
“We delivered strong shareholder value in 2020, with triple-digit revenue growth despite unprecedented challenges and an uncertain environment. This growth came through strategic acquisitions of best-in-class hydroponic stores, exceptional same-store sales growth, and the expansion of our omnichannel and private label offerings – a strategy we will accelerate this year,” said GrowGen CEO Darren Lampert. “We expect significant revenue growth in the year ahead as we continue to execute on these initiatives. Accordingly, we have raised our 2021 revenue guidance to $335-$350 million, our 2021 adjusted EBITDA guidance to $38 million – $40 million, and increased the number of projected GrowGen store locations to 55.”
GRWG shares have been acting well over recent days, up about 32% in that time.
GrowGeneration Corp (NASDAQ:GRWG) managed to rope in revenues totaling $55M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 152.6%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($55.3M against $20.9M).
MedX Holdings Inc (OTCMKTS:MEDH) is a far more speculative opportunity, but could mature into a very interesting name in the cannabis and hemp space, particularly given its early-stage turnaround posture and the lack of speculative involvement in a market space that has become somewhat overburdened with speculative interest.
The company is focused on driving growth through vertical integration, strategic partnerships, licensing, franchising, and providing solutions to the emerging hemp and cannabis industry, and its recent reboot could provide an interesting bargain scenario before the crowd spots it.
MedX Holdings, Inc. (OTCMKTS:MEDH) expects a final change of control of the majority shares to be transferred to Hans Enriquez within a couple weeks, which will complete the reboot in an official sense and lead to merging in new subsidiaries within the hemp and cannabis industries followed by a name and ticker change.
Stated CEO, Hans Enriquez: “I’m very pleased with the progress that has been made in the 6 months since I’ve come into MEDH and as the momentum of legalization continues to grow, we continue to position ourselves and look forward to a very prosperous year ahead.”
Shares are moving back in the right direction as the company works through a promising reset in a strong market space. The stock recently broke above its 50-day MA and prior downward trend line following a nice bullish basing pattern that comes on the heels of a bullish MACD divergence.
MedX Holdings Inc (OTCMKTS:MEDH) is effectively a new and promising member of the cannabis patch in the market. The company just regained OTC Markets access, got its last three periods of quarterly filings caught up, and achieved Pink Current status. That now sets up a refresh where MEDH is ready to begin executing its operational strategy for 2021. Given the dramatic strength in the group, that shift stands to potentially pay off for existing stakeholders.
Cresco Labs Inc (OTCMKTS:CRLBF) manufactures and sells medical cannabis products in the United States. It offers cannabis dry flower; vaporizer forms of cannabis; cannabis oil in capsule, oral and sublingual solutions; cannabis in topical; and other cannabis products.
The company also provides cannabis infused edibles, including chocolate and toffee confections, fruit-forward gummies, and hard sweet and chews. Cresco Labs Inc. sells its products under the Cresco brand. In addition, it operates a Hope Heal Health dispensary in Fall River, Bristol County, Massachusetts.
Cresco Labs Inc (OTCMKTS:CRLBF) recently announced the first annual report for its SEED (Social Equity and Educational Development) initiative. The report highlights the Company’s many achievements over the past year to help create a more diverse and inclusive cannabis industry through SEED’s restorative justice initiatives, community business incubators and educational and workforce development programming. The 2019-2020 SEED Annual Report is available online at crescolabs.com/seed.
“We are proud to have launched the cannabis industry’s first comprehensive social justice and social equity initiative and to report the significant strides the SEED program has made towards the more equitable inclusion of Black and Brown people in cannabis,” said Charlie Bachtell, CEO and Co-founder of Cresco Labs.
The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 14% in that timeframe. Shares of the stock have powered higher over the past month, rallying roughly 21% in that time on strong overall action. Cresco Labs Inc (OTCMKTS:CRLBF) generated sales of $204.3M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 56.4% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($79.6M against $325.6M, respectively).
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- Rail bosses to slash thousands of jobs in scramble to implement £2bn of cuts
- Four more energy firms on the verge of collapse
- Interest rate rises are coming – here's how to protect yourself
- FTSE 100 inches higher despite GDP miss; Wall Street dips on inflation worries
- Ambrose Evans-Pritchard: Putin’s gas war with Europe is far from over
- Sign up here for our daily business briefing newsletter
Russian President Vladimir Putin has denied his country is using its position as Europe’s biggest gas supplier as a weapon.
Speaking at a conference in Moscow, President Putin denied he was using the energy crisis to advance his aims, saying: “This is just politically motivated chatter, which has no basis whatsoever.”
Some European countries fear the Russian leader is using the fuel crisis as leverage in his efforts to secure approval for the new Nord Stream 2 pipeline – an accusation the Kremlin has denied.
President Putin today reiterated his vow to ease Europe’s energy crunch by increasing supply.
BoE: Crypto now bigger than subprime debt that led to crash
The cryptocurrency market is now double the size of the subprime debt in the US that led to the 2008 financial crisis, the Bank of England has said.
Crypto assets are now worth $2.3 trillion, about 200pc more than at the start of the year. That's about twice the size of the $1.2 trillion subprime real estate market on the eve of the crash.
Jon Cunliffe, deputy governor of the Bank of England, said: “You don’t have to account for a large proportion of the financial sector to trigger financial stability problems.
“When something in the financial system is growing very fast, and growing in largely unregulated space, financial stability authorities have to sit up and take notice.”
The comments appear to show a tightening of rhetoric from the Bank, which has previous dismissed cryptocurrencies as having no intrinsic value.
However, Mr Cunliffe did acknowledge that there were some genuine crypto services that were appealing to more investors.
Shipping costs surge amid port crisis
Wider problems in global supply chains are driving shipping costs through the roof, writes my colleague Alan Tovey.
The normal $1,000 cost of transporting a container from Asia to Europe has gone as high as $20,000 for some guaranteed slots.
They have also sent ship values haywire, as companies fight for vessels to add capacity into the system.
Old container ships that would normally be in the twilight of their lives are selling at massively inflated prices because of the delays it takes to order and buld new vessels.
According to data from Vessels Value, the 20-year-old Atlantic Flosta was sold in September for $29m, having changed hands three years ago for just $8m. The Iseaco Horizon, a 2005 ship, sold in October for $41m, having been flogged for $6.3m in 2020.
Both ships are relative minnows, each capable of transporting fewer than 3,000 shipping containers, meaning they are dwarfed by giants such as the Ever Given which blocked the Panama Canal in March. It can accommodate 20,000 containers.
Rates at which ships are hired out at are also skyrocketing. A one-year charter 3,000 container ship - known as a sub-panamax vessel - has risen 349.7pc since the start of the year to $87,100 per day.
Putin: Oil could hit $100 a barrel
President Putin has also weighed in with his predictions for oil prices, saying they could hit $100 a barrel even as producers look to stabilise the market.
Prices surged past $80 to fresh highs last week after Opec resisted calls to raise output faster and stuck to its plans of hiking production by 400,000 barrels per day in November. Some analysts think they could rise further.
The Russian leader said: "This [$100 a barrel] is quite possible, it [the oil price] is now growing." He added: "We and our partners at Opec+ are doing our utmost to stabilise the market."
EU proposes tax breaks to tackle energy price rises
Meanwhile, the EU has proposed tax breaks as part of a toolbox of potential measures aimed at protecting the most vulnerable consumers and businesses from surging energy prices.
The bloc has said it expects high prices through the winter as a supply crunch continues to drive up the cost of natural gas.
Measures on its list of recommendations for members states include short-term tax cuts for parts of the population and aid to industry to cope with rising costs.
Kadri Simson, the EU's energy commissioner, said: “The current situation is exceptional, and the internal energy market has served us well for the past 20 years. But we need to be sure that it continues to do so in the future.”
EU energy ministers will hold an emergency meeting on Oct. 26 to discuss the crisis, Bloomberg reported, citing two EU diplomats.
Putin blasts 'systematic flaws' in European gas market
Vladimir Putin may have stuck by his pledge to pump more gas into Europe – but that didn't stop him from blaming the current energy crisis on the continent's flawed energy market.
The Russian president said his country was “prepared to discuss any additional steps” to help stabilise the market. It marks a reiteration of comments he made last week that calmed soaring natural gas prices.
President Putin blamed Europe for relying on supplies from the short-term market to fill their gas storage facilities, instead of securing long-term contracts.
He told a conference: “The European gas market does not look to be well balanced and predictable.” He added that in Russia's domestic market “such problems are impossible to imagine.”
The Russian leader said new projects including the controversial Nord Stream 2 pipeline will “ensure the stability and predictability of gas supplies in the volumes needed by European countries for years to come”.
The comments will do little to calm concerns about European politicians that President Putin is using the energy crisis as leverage to advance his political aims.
Delta warns rising fuel costs will hit profit
Delta Air Lines has warned rising fuel costs pose a threat to its profits, signalling jitters about the energy crisis that are likely to spread through the wider aviation sector.
The company became the first US carrier to post a quarterly profit – stripping out state aid – since the start of the pandemic as travel begins to pick up.
But it warned it may plunge back into the red next quarter, mainly because of higher jet-fuel costs.
Chief executive Ed Bastian told Bloomberg: “That’s going to be a limiter on our ability to post a profit in the quarter. At these current fuel levels, it looks like we’ll have a modest loss.”
The comments will spark concerns about new headwinds for struggling airlines just as they're beginning to get back on track.
Shares in British Airways owner IAG are topping the FTSE fallers today, down 2.3pc. EasyJet is down 4.5pc, while Wizz Air and Ryanair have also dropped.
Wall Street opens higher despite inflation worries
US stocks have gained ground at the opening bell despite new data showing consumer prices rose more than expected in September.
The benchmark S&P 500 rose 0.2pc, while the tech-heavy Nasdaq was up 0.6pc. The Dow Jones was little changed in early trading.
Futures had slipped earlier today after data showed a 0.4pc rise in the consumer price index – ahead of estimates of 0.3pc. But shares rebounded thanks largely to positive momentum for tech stocks.
Traders will be turning their attention to a string of major corporate results for further signs of what impact inflation is having on US businesses.
Apple throws weight behind App Store as chip shortages hit iPhones
Apple has hit back at regulatory efforts to crack open its iPhone App Store, warning the move would expose consumers to hacking risks, writes Matthew Field
The California company said on Wednesday attempts to force it to allow downloading from outside of its secure smartphone store - a process known as “sideloading” - could put consumers at risk.
The tech giant said such regulations could increase the “threat of malware, piracy and intellectual property theft”. “Sideloading” sees consumers downloading apps from the open internet and is not currently possible on iPhones.
Rivals, however, have said the tech company’s App Store is anti-competitive and forces them to give away up to 30pc of their app income to Apple.
Meanwhile, Apple could be forced to slash production of 10m iPhones this year as chip shortages hit its latest products.
The California company had been planning on producing 90m new iPhone 13 models in the final three months of 2021, but it has now scaled back its targets because its suppliers are struggling to deliver components.
The iPhone maker has told its manufacturers of a shortfall in parts from suppliers Broadcom and Texas Instruments, Bloomberg reported, which make wireless chip parts and display technology.
Shoppers told to plan ahead for Christmas amid port delays
Shoppers have been warned to plan ahead for Christmas as shipping backlogs at ports put supply chains under "considerable strain".
Peter Wilson, managing director of shipping agency Cory Brothers, urged people to order presents in a "timely fashion" to ensure they arrive in time.
While shelves will be stocked over the festive period, consumers may not have as much choice as normal, he warned.
Mr Wilson told the BBC: "I can say completely, categorically that supply chain will not fail and that goods will be on the shelves through Christmas. There just may not be that absolute choice we're all used to."
It comes amid a major bottleneck at Felixstowe port, where a shortage of lorry drivers has caused a pile-up of shipping containers.
The port, which handles 36pc of the UK's freight container traffic, told said it currently has 50,000 containers waiting to be collected. Some companies including Maersk have diverted cargo ships away from the UK due to the delays.
Netflix takes more London production space
Netflix has inked a deal to take even more production space in London – marking its latest expansion in the capital.
The US streaming giant has secured a deal with landlord Segro to take space in Enfield, north London, the Evening Standard reported.
The 230,000 square feet site, which will boast sound stages, studios and areas for make-up and costumes, is set to be up and running next year.
It's the latest UK expansion for Netflix, which alongside rivals such as Disney and Amazon is racing to secure more studio space as the streaming boom fuels demand for films and TV shows.
Last month it took more space at Longcross Studios in Surrey, while its other London hubs include Shepperton Studios.
It comes as Netflix revealed hit South Korean show Squid Game has become its biggest series launch ever.
The South Korean show has attracted 111m views since its release last month. That surpasses its previous top show, Bridgerton, which hit 82m households in its first 28 days of release.
More expert reaction: November tapering here we come
Willem Sels at HSBC warns US inflation is unlikely to ease until the second quarter of 2022 – and could remain high for longer.
Looking ahead, we continue to believe that US inflation will remain high for several months, and start to decline somewhat in Q1, before dropping more sharply in Q2.
Commodity price base effects in particular should start to ease around year end, and we believe that with time, supply will adjust to demand, easing shortages and reducing input cost pressures.
The strength of the US dollar should also start to be a deflationary force in coming months. This should allow most Federal Reserve members to stick to their view that inflation is transitory, and allow the Fed to take a very gradual approach to the planned tapering and monetary tightening.
The risk to this view is that any further increase in oil and natural gas prices could mean that the base effects do not ease until later in 2022, and that inflation could remain high for longer, or even move up a bit further first, before coming down.
Markets may therefore remain somewhat more volatile than earlier in the year until we see more evidence that inflation pressures are indeed starting to ease.
Seema Shah at Principal Global Investors says:
Today’s number shouldn’t move the needle for the Fed. Inflation has already surpassed its goal and, if anything, the higher-than-expected September CPI just reinforces the need to start tapering. November tapering, here we come.
To us, it seems that the conversation around transitory vs persistent has moved on – much of these inflationary pressures are transitory, but that doesn’t stop them from having a dampening impact on activity. Today’s number, with food price inflation and shelter inflation moving higher, suggests growing pressure on consumers.
Keep in mind too that the recent rise in oil prices hasn’t yet fed through to the numbers – that’s still to come, while the renewed rise in car prices is also likely to drive inflation numbers higher in the coming months. With the NY Fed’s latest Survey of Consumer Expectations moving higher, market angst about inflationary pressures is not disappearing any time soon.
US consumer price growth tops expectations
US consumer prices grew by more than expected in September in a further sign of inflationary pressures on the economy.
The consumer price index increased 0.4pc month on month, according to figures from the Labor Department. Compared with a year ago, the CPI rose 5.4pc.
Core inflation, which excludes the volatile food and energy components, rose 0.2pc from the prior month.
The figures, which are ahead of economists' expectation, highlight the impact of materials and labour shortages, as well as shipping disruption, that have pushed up prices for producers.
GDP: Lacklustre growth fuel stagflation fears
Here's a bit more on today's disappointing GDP figures from my colleague Russell Lynch:
Fears that Britain is entering a period of "stagflation" deepened on Wednesday with disappointing growth figures and signs of worsening shortages.
The economy grew by just 0.4pc in August, less than had been expected by analysts, while the Office for National Statistics (ONS) also revealed that output shrank in July - the first contraction since January's lockdown.
The economy remains 0.8pc below its February 2020 pre-virus peak despite a strong second quarter.
Growth between July and September is now likely to fall short of the Bank of England’s 2.1pc estimate - which it cut two weeks ago - while inflation surges above 4pc by the end of the year.
Paul Dales, chief UK economist at Capital Economics said output “may not have increased at all in September” as drags from shortages become “more significant and widespread”. He added: “The recent broadening in shortages and the fuel crisis may mean that growth has come to a near-standstill since August."
Despite the evidence of slowing activity, Bank of England rate setters including Governor Andrew Bailey, chief economist Huw Pill and external member Michael Saunders have sounded increasingly hawkish on interest rates.
US future rise ahead of inflation data
Wall Street looks poised to open higher this afternoon as traders turn their attention to a key report on US inflation.
Futures tracking the benchmark S&P 500 and tech-heavy Nasdaq rose ahead of the consumer price index data.
Investors are also gearing up for a flurry of corporate results, which alongside the economic data will give some indication of how businesses are coping with supply chain troubles and rising costs.
JPMorgan rose as much as 0.8pc in pre-market trading after the bank's merger advisory business reported its best quarterly profit. Shares in Apple fell on expectations the company will cut its iPhone 13 production targets for 2021 due to chip shortages.
London housing market 'remains overvalued'
Some more details from the UBS report, which has dug into the housing market in 25 cities.
It states that while price growth in London trails the nationwide average, the pandemic has led to the "bottoming out" of the capital's housing market, which it argues is still overvalued.
The report cites the shift to flexible working, which has spurred on demand for properties with more space and greater affordability– i.e. outside the city centre.
By contrast, inner London’s housing market has been hit particularly hard by the pandemic, it says.
IMF: Countries must 'calibrate' spending amid mounting debt
Governments must take care to "calibrate" spending after debt loads surged during the pandemic, the International Monetary Fund (IMF) has said.
In its fiscal monitor report the group said global debt – including public and private borrowing – jumped by 14oc to a record high of $226 trillion in 2020.
Vitor Gaspar of the IMF said public debt amounts to $88 trillion, close to 100pc of GDP, and is expected to decline only gradually.
But he warned there was a risk excess private debt will become public debt so "countries will need to calibrate fiscal policies to their own unique circumstances".
Debt piles have surged during the pandemic as governments battled soften the economic blow of the crisis.
The IMF said huge aid packages in the US and Europe could add a cumulative $4.6 trillion to global GDP over the next five years if they're fully implemented.
Darktrace shares jump on improved guidance
Darktrace is helping to prop up the FTSE 250 this morning after the cybersecurity firm lifted its revenue guidance.
The Cambridge-based company expects revenue growth of between 37pc and 39pc this financial year, up from its previous forecast of between 35pc and 37pc.
Darktrace put the upgraded forecasts down to an easing of foreign exchange headwinds, which helped bolster its balance sheet.
Sales recovered from a pandemic-induced slump in the first quarter, with net annualised recurring revenue rising almost two-thirds to $24.1m (£17.7m),.
Shares in Darktrace, led by chief executive Poppy Gustafsson, were up as much as 4.7pc following the update.
Let's check in with the Telegraph's Money team and some of their top stories today:
- Autumn Budget 2021: what will be announced and how much will it cost you? – See scores on the Budget runners and riders
- ‘I turned £1,000 of furlough money into £55,000’: the teenage entrepreneurs born out of lockdown – Almost 7,000 businesses set up in 2020 by young and savvy self-starters
- ‘My two children are engaged but I dislike one fiancé – do I have to pay for both weddings?’ – Moral Money: should our reader pay for their daughter's 'freeloading' partner?
- ‘HMRC owes me £250,000 and my business is on the brink’ – Tax office delays threaten to sink firms
WPP's Finsbury Glover Hering to merge with US rival
Finsbury Glover Hering, the corporate communications firm owned by WPP, has agreed a merger with US rival Sard Verbinnen.
WPP said the combined company, which will employ around 1,000 people in 25 global offices, will aim to be a leader in strategic communications amid rising demand from corporate clients.
The ad group will become the largest shareholder of the firm, with a 57.4pc stake, while Finsbury Glover Hering managers will hold 25.9pc.
Finsbury Glover Hering was founded initially as Finsbury by PR executive and anti-Brexit campaigner Roland Rudd in 1994, who sold his majority stake to Sir Martin Sorrell seven years later but remained with the firm.
It became Finsbury Glover Hering last year after a merger with two rivals.
Mr Rudd will become a co-chair of the new firm alongside Glover Park co-founder Carter Askew and Sard Verbinnen founder George Sard.
Just Eat passes 1bn orders
Growing demand for takeaways has pushed Just Eat to a major milestone, with the company revealing customers have placed 1bn orders since its inception two decades ago.
The achievement was reached during the summer and included 200m orders in the first nine months of this year, the company said.
It came as Just Eat said its UK orders had increased by 51pc in the three months to the end of September compared to the previous year. Globally, orders rose by a quarter to 266m.
The company forecast full-year order growth of more than 45pc, with global gross transaction values of between £24bn and £25.5bn.
Kremlin says Russian gas supplies at maximum levels
Political disputes over the energy crisis are rumbling on today, with the Kremlin insisting that Russian gas supplies to Europe were at maximum levels.
Kremlin spokesperson Dmitry Peskov said Gazprom was delivering gas at the full amount under existing contracts, and that any further increase would need to be negotiated with the state-owned energy giant.
He told reporters: "Nothing can be delivered beyond the contracts. How? For free? It is a matter of negotiating with Gazprom."
Separately, deputy energy minister Pavel Sorokin said Russia had not changed its timetable for gas injection into storage facilities until Nov. 1, implying it was in no hurry to supply additional gas to Europe on the spot market.
Tensions have been rising amid accusations that Russian has been withholding gas supplies from Europe even as prices surged – something it has denied.
Still, expectations are growing that President Putin will use the crisis as leverage to push the EU to approve its Nord Stream 2 pipeline.
Sterling inches higher as traders shrug off GDP miss
Sterling has inched higher this morning as disappointing GDP figures failed to dent expectations that the Bank of England will hike interest rates.
The pound rose 0.3pc against the dollar to $1.3635. Against the euro, it edged 0.1pc higher at 84.75p, not far from a two-month high reached this week.
It comes after ONS data showed the economy grew 0.4pc in August, missing expectations of 0.5pc. GDP is now 0.8pc lower than it was before the outbreak of Covid in February 2020.
In a note ING said the economic data, combined with robust labour market figures, "gave no reasons for markets to scale back their aggressive pricing for Bank of England tightening".
Supply troubles boost car dealer Vertu
Squeezed supplies of cars have driven automotive dealer Vertu to record profits, as the sector rebounds from the hammering it took during the pandemic, reports my colleague Alan Tovey.
The company, which has 154 dealerships, reported pre-tax profits up almost 1200pc to £51.1m in the half year to the end of August, with revenues 72pc stronger at £1.9bn.
Sales volumes also surged ahead, hitting almost 94,000, up from 58,500 during the same six months last year.
Vertu is just the latest car dealer to post strong results as a unique set of circumstances boosts the sector.
Consumers have amassed savings during lockdowns which they are now looking to spend, while supplies of new cars are being squeezed by supply chain problems, most notably a shortage of microchips.
This is choking off supply of new cars into the market, with drivers now turning to secondhand motors as they seek new sets of wheels.
Prices of used cars have rocketed as a result, with some low-mileage secondhand vehicles selling for more than the list price of a brand new one.
Eurozone industrial output drops
Industrial production in the eurozone fell in August as supply chain bottlenecks continue to hamper economic growth.
Output declined 1.6pc month on month, according to the latest figures from Eurostat. Meanwhile, industrial production growth for July was revised down to 1.4pc from 1.5pc.
Broken down by products, output of capital goods fell 3.9pc, durable consumer goods by 3.4pc, intermediate goods by 1.5pc and non-durable consumer goods by 0.8pc, while production of energy rose by 0.5pc.
The figures highlight the ongoing impact of supply chain disruption on the region's key industrial sector, with economists warning the impact is likely to continue for the rest of the year.
Watchdog writes to Lloyds over retail banking order breach
The competition watchdog has written to Lloyds over the breach of a retail banking order that potentially affected just over 500 SME customers.
Those affected took out a loan at a time when key information that should have been published on the bank's website was left off one page.
Lloyds has taken steps to end the breach and prevent a recurrence, including publishing the required information in the necessary location, and carried out staff training on compliance.
As a result, the Competition and Markets Authority (CMA) said it “does not consider it appropriate to take further formal enforcement action in relation to this breach”.
Marston’s toasts return to pre-pandemic sales
Pub group Marston’s has hailed a strong rebound in trading as Covid restrictions were eased, with sales in its latest quarter rising above pre-pandemic levels.
In the 10 weeks since July 25, like-for-like sales rose 2pc on 2019 levels, while overall sales “continue to improve” and were in line with expectations, the company said.
Martson’s said its recovery had been helped by its limited exposure to London and other city centres. It also said its premium pubs had performed well, while a staycation boom had helped its accommodation sales.
The pub group added that it was managing staff shortages and had seen “some small pockets of disruption” in its supply chain, but was working closely with suppliers to manage those.
White House rolls out 24-hour service to relieve port backlogs
The White House is pushing through a 24-hour service to help alleviate problems at key US ports that have caused major disruptions to global supply chains.
President Joe Biden will announce the round-the-clock commitment at the port of Los Angeles following a meeting with management and unions today.
Officials said the White House had also secured commitments from companies including Walmart, FedEx and UPS to work extended hours and move towards 24 hours a day in some operations.
It comes as ports in LA and Long Beach in California battle backlogs that that left dozens of ships unable to dock.
Analyst reaction: Why has Centrica scrapped its investor day?
Shares in Centrica slipped as much as 3.3pc this morning after the British Gas owner said it wouldn't meet investors next month.
Analysts at Citi says the decision was taken to “avoid any political and media focus in light of the high commodity prices”, particularly as the market had been expecting Centrica to resume its dividend.
They add that continued risks around a cold winter could also mean the company is cautious about promising too much at its capital markets day.
Morgan Stanley says the decision to postpone seems “sound” given the heightened political sensitivity the energy industry is facing. They add that Centrica is well-hedged for the winter and beyond, which should calm any concerns about an imminent profit warning.
Hut Group slide continues after investor day shambles
Meanwhile, there's more pain for The Hut Group this morning, which has extended its losses as investors continue to ditch shares.
The e-commerce retailer dropped as much as 13pc in early trading, before paring losses to trade flat. It had plummeted 34pc on Tuesday, nearing half the price of its flotation just a year ago.
The company, known as THG, issued a statement yesterday insisting it was in a “strong” financial position with £700m in cash and insisting it saw no reason for the share slump.
That followed an investor day where executives sought to ease concerns about THG's Ingenuity e-commerce division, which has come under fire from an influential advisory group.
Oil holds near record highs as IEA warns of volatility
Oil prices are lingering nearing record highs as the International Energy Agency (IEA) warned of increased volatility and further price rises.
Prices held above $80 a barrel after last week reaching their highest level since October 2014. In a flagship report, the IEA warned that the world was failing to invest in energy on the scale that’s needed to avoid sharp increases in fossil fuel prices and at the same time escape catastrophic climate change.
Oil has surged this year as a rebound from the pandemic has driven huge demand and depleted reserves. At the same time, surging gas prices have driven higher demand for alternative fuels.
Fatih Birol, head of the IEA, warned there was a "looming risk of more turbulence for global energy markets".
'No end in sight' to shipping crisis, warns Dubai port operator
The chairman of Dubai port operator DP World has warned there's no end in sight for the shortage of shipping containers, port congestion and rising freight costs that have roiled global trade.
Speaking at Expo 2020 in Dubai, Sultan Ahmed bin Sulayem declined to predict when the crisis would end, adding: "These are the complications. Nobody knows how long it’s going to take. I think it’s going to take a long time."
DP World is one of the world’s largest port operators, operating over 90 facilities across six countries.
Sultan bin Sulayem said the company would increase its workforce to almost 100,000 people in the next three to four months, up from 56,000 today.
China coal prices hit record high
Meanwhile, China is facing a fresh setback in its efforts to battle the energy crisis as coal prices surged to fresh record highs.
China, which is the world's largest coal consumer, has taken steps to boost coal production and imports and manage electricity demand at industrial plants as it grapples with shortages and high prices.
But recent floods in a key coal producing province have hampered efforts, and
Four mines with a combined annual output capacity of 4.8 million tonnes remained shut and four mines with a combined annual output capacity of 4.8m tonnes remain shut, according to local authorities.
Thermal coal prices touched a record high of 1,640 yuan (£186) per tonne in Wednesday trade, having surged almost three-fold in the year to date.
It comes just a day after Beijing relaxed power pricing rules in a bid to spur on coal-fired power production.
Gas prices rise again as Putin plays politics
Gas prices are on the rise once again amid concerns the Russian government is preparing to use the energy crisis as leverage in negotiations over gas supply.
UK prices rose as much as 8.7pc to 236p a therm, while Dutch front-month gained as much as 8.9pc to €93.35 a megawatt-hour on Wednesday. Both recorded the biggest daily gains since October 5.
President Vladimir Putin, who is due to speak at a conference this afternoon, wants to pile pressure on the EU to approve the controversial Nord Stream 2 pipeline and overhaul gas market rules to favour long-term contracts.
Signs that Russia will use its position as Europe's biggest gas supplier as political leverage are prompting further turmoil in the energy market. Gas prices rose to record highs last week before falling back after President Putin said Russia could pump record levels to Europe this year.
Low electricity generation from wind power is putting further pressure on gas prices , with UK production expected to collapse on Friday before recovering by the end of the weekend.
British Gas owner scraps investor day
Centrica's decision to push back its investor day comes as the sector grapples with surging wholesale energy prices, which hit record highs last week amid a supply crunch.
The crisis has already sparked the demise of a string of smaller energy suppliers, with four more now said to be on the brink of imminent collapse.
In a brief statement this morning, Centrica said its trading since July had been in line with expectations.
The owner of Britain's biggest energy supplier also said it's "well-hedged for the winter and beyond". Hedging is the practice of buying gas and electricity input in advance to reduce the risk of price fluctations.
Centrica added that its balance sheet remained strong and its transformation plan was on track.
FTSE risers and fallers
It's been a downbeat start for the FTSE 100, which is in negative territory this morning against the backdrop of disappointing GDP data.
Miners are providing the biggest drag on the sector, with Rio Tinto, BHP and Anglo American all falling as a rally in commodities eases.
AstraZeneca has extended its losses for the week, dropping just over 1pc, while drinks maker Diageo is also weighing on the FTSE.
Barratt is provided the biggest lift this morning, rising 3.7pc after it said supply chain troubles wouldn't impact its construction schedule. This also pulled up rivals Taylor Wimpey and Persimmon, as well as equipment rental firm Ashtead.
The domestically-focused FTSE 250 has slipped 0.1pc, with Man Group up more than 6pc after beating expectations for net inflows in the third quarter.
Barratt shrugs off supply chain woes
Housebuilder Barratt Developments has shrugged off supply chain worries, even as fresh data showed the impact of shortages on the construction sector.
The FTSE 100 company said it's still on track to build 17,000 and 17,250 homes in the current financial year, with its building sites continue to operate as normal across the country.
Barratt said that it has noticed "some macroeconomic uncertainty", but its financial position is strong enough to react to changes this year.
Chief executive David Thomas said: "We continue to work closely with our suppliers and sub-contractors and have not experienced any significant disruption to our build programme as a result of the challenging supply chain environment."
However, Barratt said it expects the cost of building to increase between 4pc and 5pc this financial year as inflation mounts.
The company jumped to the top of the blue-chip index, with shares rising 3.1pc.
Gas storage project gets green light amid energy crisis
A gas storage project located off the coast of Northern Ireland has been given the green light to move to construction as the UK continues to grapple with an energy crisis.
Islandmagee Energy’s gas storage project will initially unlock seven much-needed gas storage caverns. Once constructed and fully operational, these gas caverns will hold around 500m cubic metres of natural gas and provide security of supply during peak demand for up to 14 days for Northern Ireland.
It marks a boost for the UK, which has much lower gas storage capacity than most European countries, leaving it more vulnerable to supply chain issues. Once completed, the new facility will hold more than 25pc of the UK's storage capacity.
John Wood, chief executive of Islandmagee Energy parent company Harland & Wolff said:
This is good news for consumers and businesses in the UK who are currently experiencing distressing hikes in energy prices and fears of potential blackouts as gas and power grids face peak demand stresses during the winter months.
With the current energy supply crisis, everyone now understands just how important gas storage is to secure supply and protect against extreme volatility in gas and power prices in the UK.
Staycation boom lifts growth
One bright spot in the figures is the impact of staycations, which helped lift accommodation and food service activities over the summer.
Arts, entertainment and recreation also provided some uplift as Britons cancelled holidays abroad and relaxed closer to home.
This was partially offset, however, by falls in health activity – with fewer people visiting GPs and less test and tracing – and retail trade.
Expert reaction: 'Triple whammy' hits construction sector
Clive Docwra of property consultancy McBains warns of an "ominous" outlook after construction posts its fifth monthly decline in a row.
Today’s figures are proof that the construction sector is in a downward spiral, as this is the fifth successive monthly fall in output.
New work remains flat in due in large part to a continuing shortage of essential products such as steel, concrete and timber. Steel prices in particular are now almost 75pc higher than they were in August 2020.
The outlook over the remainder of the year looks ominous too. The triple whammy of continuing supply chain issues, together with a lack of HGV drivers to deliver the materials that are available, means some developments being delayed, and the fuel and energy crisis is also likely to add to project costs.
Skills shortages are also a concern, so the government should grant an exemption allowing skilled foreign construction workers to apply for work visas, as they did to address the shortage of HGV drivers.
Services disappoint while shortages weigh
Breaking the numbers down by sector, it's clear to see where the greatest drag on economic growth has been.
Despite the lifting of Covid restrictions, the services sector delivered just 0.3pc growth in August. Output in consumer-facing services increasing by 1.2pc, while all other services rose by 0.1pc.
All other services are now 0.4pc above their pre-pandemic levels, while consumer-facing services remain 4.7pc below.
Production output increase 0.8pc, largely thanks to the reopening of oil rigs that had been closed for maintenance.
But construction output contracted 0.2pc in August and is now 1.5pc below its pre-pandemic level. This is likely due to material shortages – a problem that's likely to worsen in September and October.
Economy trails behind pre-pandemic levels
While GDP picked up in August, it's still lagging behind pre-Covid levels. This will bring into doubt the Bank of England's expectations for a return to normality this year, and could curb some speculation about an early rise in interest rates.
The ONS figures will also serve as an antidote to some robust jobs figures released yesterday, which suggested the UK labour market was in robust health last month.
Economic growth falls short
There's some disappointing economic data to start the day – the latest ONS figures show economic growth failed to deliver in August even as Covid restrictions eased.
Gross domestic product (GDP) rose 0.4pc in August, short of the 0.5pc that had been expected by economists. The ONS issued a series of revisions showing an unexpected drop in output in July. The figures mean the economy is now 0.8pc smaller than its level before Covid-19 struck in February 2020.
The miss was driven by disappointing growth for the services industry as bars, restaurants and festivals were able to resume restriction-free trading.
They numbers will cast doubts over whether the economy can return to pre-pandemic levels this year.
5 things to start your day
1) Toys, clothes and electronics may not arrive for Christmas as cargo vessels turned away from UK The lorry driver shortage means there is no space to offload goods at key port.
2) Hut Group's shares plunged by a third after crunch meeting with investors Around £1.8bn was wiped off the e-commerce firm's market value on Tuesday after a shareholder event failed to win the City over.
3) Ben Marlow: Alan Rusbridger and Facebook's oversight board have been taken for fools The social network's 'Supreme Court' has been utterly useless at addressing alarming whistleblower claims - but effective as a PR shield.
4) Coal makes a comeback as green energy fails to meet post-pandemic demand Countries are turning to coal-fired power after renewables failed to keep pace with a post-pandemic jump in demand for energy.
5) Shipping snaps under weight of supply chain problems Crews onboard say it is the worst disruption they have ever seen.
What happened overnight
Asian markets were mixed on Wednesday as investors awaited key US inflation data. Tokyo, Sydney and Taipei edged down, though there were gains in Seoul, Singapore, Manila, Jakarta and Wellington. Shanghai was also in the red before Thursday's release of China's own inflation readings.
Coming up today
Interim results: PageGroup
Trading update: Barratt Developments, Just Eat Takeaway, Man Group
Economics: Trade balance (UK, China), industrial production (UK, EU), manufacturing production (UK), GDP (UK), inflation (US), FOMC minutes (US)


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After taking the headlines at Coachella with a surprise 2NE1 reunion and an on-stage mango sticky rice moment, 88rising has now announced the full lineup for its 2022 Head In The Clouds Music & Arts Festival.
Scheduled for August 20 and 21 at Brookside at the Rose Bowl in Pasadena, California, the festival will feature headliners such as Jackson Wang, NIKI, Rich Brian, BIBI, Jay Park and CHUNG HA. Additionally, the event will highlight artists like mxmtoon, while AUDREY NUNA and Deb Never are set to reveal a joint project. Other standout names include eaJ, ATARASHII GAKKO! and MILLI, as well as South Korean hip hop legends Tiger JK and Yoonmirae. In addition to music, attendees will be able to enjoy activations such as Joji‘s pop-up store and food from 626 Night Market.
See the full lineup down below. Presale opens on May 26 and passes will officially go on sale on May 27 on the festival’s official website. GA passes are priced at $249 USD and VIP passes at $405 USD.


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Brits are set to spend an average of £289 on Christmas gifts, says a study on Christmas spending plans from online fundraising platform Give As You Live.
The research, which surveyed over 2,000 people, found that the 34 to 45 age group will spend the most at £343.65, with women spending more than men at £294.75 versus £281.17.
The 16 to 24 age group is expected to spend the least at £181.80, but the study also found that 75 per cent of Brits plan to spend the same amount or more on Christmas this year.
In terms of regions, spending the most will be N. Ireland with £384 followed by North East at £365, North West at £297.
Regions predicted to spend the least this Christmas are London at £259, East at £260 and Wales with £276.


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TOKYO, Nov. 22, 2017 (Antara/Kyodo JBN- AsiaNet) --
- Special Ramen Menus Available at Tokyo Ramen Kokugikan Mai's 6 Shops; Christmas Events, Fireworks to Feature Odaiba -
AQUA CiTY ODAIBA, a commercial complex in Tokyo's Odaiba district operated by Mitsubishi Jisho Retail Property Management Co., Ltd., will offer a variety of ramen noodles on the special winter menus of six restaurants operating at "Tokyo Ramen Kokugikan Mai," beginning on Friday, December 1.
Tokyo Ramen Kokugikan Mai on the fifth floor of the complex -- which offers a selection of six popular ramen restaurants across Japan in one place -- bustles with guests from across the country and overseas. Special ramen dishes offered by the six establishments each winter enjoy high popularity with visitors.
All ramen products on the special menus this winter will be priced at 2,000 yen or more, including the 8 percent consumption tax. Luxury ingredients will be used for soup and toppings for all the special ramen.
AQUA CiTY ODAIBA hopes that visitors will enjoy the original ramen dishes which these six popular restaurants from various parts of Japan will offer only during this coming winter with confidence.
TOKYO RESORT XMAS 2017 - AQUA CiTY ODAIBA - is also under way at the commercial complex as a special winter event. As part of the event, Winter Night Rink, a specially established skating rink, is in operation at the facility and festive illumination adds color to the night view of the bay area.
Moreover, Odaiba Rainbow Fireworks 2017 will be held on every Saturday in December, fantastically lighting up the Odaiba area. It will be a beautiful winter scene with Rainbow Bridge lit up in seven colors.
"This winter, we'd like many people to enjoy a special time at AQUA CiTY ODAIBA," said an official of the operator of the commercial complex.
Tokyo Ramen Kokugikan Mai website (English):
TOKYO RESORT XMAS 2017 -AQUA CiTY ODAIBA- website (English):
Odaiba Rainbow Fireworks 2017 website (English):
SOURCE: Mitsubishi Jisho Retail Property Management Co., Ltd


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FLAIR FOR LIFE: A horde of waiters balancing champagne flutes on silver trays weaved through a mix of entertainment and fashion pacesetters gathered at Mr. Chow Tribeca on Monday to toast Revlon’s reentry into the department store fragrance business. Later, in Mr. Chow’s private dining room, Damon Dash generously bought the 30 dinner guests — including his wife Rachel Roy, Eva Mendes and Isabeli Fontana, the face of Revlon’s Flair fragrance — several rounds of shots, declaring “To flair for life” before clinking glasses. Some guests abstained. Roy, meanwhile, mentioned that her Hudson Street boutique, which she hopes to open in September, was a stone’s throw from the restaurant. In between designing clothes, Roy has developed a coal eyeliner intended to create a sensual, “Indian look.” With Flair slated to bow in July, industry sources are already speculating that Revlon’s next move will be the relaunch of the Charlie fragrance, an icon of the Seventies.
DIESEL INJECTION: Diesel cruised into London’s Bond Street last Thursday to launch its latest London flagship on the legendary shopping street. Actress Heather Graham had even poured herself into a Diesel denim evening gown for the occasion. “I had to road-test it with my assistant before I came out,” laughed Graham, gesturing to the flowing train on the low-cut creation. “I love it, but I’ve got to be careful no one trips me up!”
London’s fashion set, including Giles Deacon, Jodie Kidd, Peaches Geldoff, Jade Parfitt, Jefferson Hack, Francesca Versace and Camilla Al Fayed, crowded into the store for tequila cocktails, while model Jasmine Guinness played DJ for the night.
STRIPE IT UP: Molly Sims and Sophia Bush laughed it up like old friends at the launch party of Coach’s new Legacy collection at Michelson Studio in the West Village last Thursday night. The two ogled the collection of retro luxe handbags, boots and small leather goods, which was set against the backdrop of a colorful stripe pattern originated by designer Bonnie Cashin during her work for the brand in the Sixties and updated by Coach president and executive creative director Reed Krakoff. Other guests, including Ali Landry, Kristen Bell, Zoe Saldana, Rashida Jones and Vanessa Minnillo, sipped gin rickey cocktails with red plum and nibbled on smoked chile-braised short-rib empanadas way into the night.
SOHO SPICE: A little bit of sex appeal clearly piques the interest of New York’s most jaded party-goers — just ask Andrew Pollard and Jennifer Zuccarini. On Monday, the duo celebrated the opening of their Kiki de Montparnasse boutique at 79 Greene Street. Among the revelers at the 3,200-square-foot store were André Balazs, Christopher and Amanda Brooks, Andrew Rosen, Hope Atherton, Tiffany Dubin, Lisa Eisner, Terry Richardson, Aby and Samantha Rosen, Allison Sarofim, Lola Schnabel and Bettina Zilkha. They came to check out the new retail concept, which aims to mix upscale erotic objets such as leather riding-crop whips and gold handcuffs with upscale lingerie.