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73% of UAE Consumers are Shopping More Online Since the Start of Pandemic, Reveals Mastercard StudyNovember 24, 2020 | Dubai, UAE
- Groceries (73%), clothing (66%) and healthcare (60%) top the virtual shopping list in the UAE
- 70% of consumers have embraced online banking, and 3 in 5 are using the downtime to upskill
- Social media has become an integral platform for connecting consumers to online businesses
- Secure checkout experience recognized as fundamental for online shopping
As the global COVID-19 pandemic continues to spur e-commerce, a Mastercard study* has revealed the rapid growth of online shopping, with nearly three out of four (73%) UAE consumers shopping more online than they did before the pandemic.
The study provides significant insights into how shoppers are rapidly moving away from cash and opting for contact-free and digital payment experiences. These insights are helping e-tailers and businesses in the UAE, and across the region, to leverage the shift towards online shopping and to deliver fast, convenient and secure transactions.
Surge in Spending Across Sectors
According to the survey, FMCG (fast-moving consumer goods), healthcare, apparel and banking have seen the highest surge of online activity.
More than 73% of UAE consumers said they had shopped more online for groceries, 66% for clothing, and over 60% said they had purchased medicine online. And, as e-commerce increasingly becomes a part of everyday life, consumers are moving other aspects of their financial management to digital, with 70% of respondents having started banking online.
The research also reveals the rising impact of social media on consumer spending habits, with 72% and 56% of respondents saying they had discovered new sellers through Facebook and Instagram respectively.
Mastercard has been working with businesses, financial institutions and other stakeholders to advance digital payments in the UAE, and the pandemic has reinforced the necessity to continue evolving the safe and secure consumer payment experience. From a simplified online checkout experience to an in-store tap on a contactless terminal, it is evident that being able to respond to the rapidly evolving consumer expectations is a critical priority.
“There’s no doubt that the way we live and shop has changed drastically as a result of the pandemic,” said Girish Nanda, Country Manager – UAE & Oman, Mastercard. “With constraints imposed on our daily lives due to COVID-19, consumers are adopting new shopping and payment habits at an accelerated pace. Mastercard is working closely with its partners and businesses across the UAE to help them cater to consumer needs by offering fast, secure and efficient ways to transact. As this trend continues to evolve, Mastercard will continue to leverage its insights and technology, forging critical partnerships and driving innovation to ensure a solid foundation to deliver the future of payments in the UAE.”
The Rise of Virtual Experiences
While adapting to the ‘next normal’, people have been changing the way they consume entertainment and learn new skills.
In fact, 73% of UAE consumers said they were using the downtime as a positive learning experience. More than half of the respondents (51%) said they had taken a virtual cooking class, 34% have been mastering a new language and 26% have been learning to dance online.
44% of respondents have been educating themselves on Do-It-Yourself (DIY) projects, and just over a third (38%) said they have been learning how to film online.
As people spend more time at home, the demand for online entertainment has also surged with 78% of respondents having invested in entertainment subscriptions and 56% in online gaming.
Securing New Shopping Habits
With the rapid rise in online shopping, consumers are also becoming increasingly aware of the associated risks. More than half of consumers (57%) surveyed said that a secure checkout was fundamental for a good shopping experience.
This is a key priority for Mastercard, as it is working to reduce online fraud and protect retailers from data breaches, while ensuring that consumers still enjoy a convenient and hassle-free payment experience.
To advance these efforts, Mastercard recently rolled out its patented tokenization technology across the region. Tokenization encrypts consumer data by replacing card numbers with digital tokens. This prevents improper usage at any other location and provides additional security and peace of mind for consumers and merchants alike, resulting in higher approval rates while minimizing online fraud.


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The city that is ready, willing and able
Updated: 2013-01-28 11:23
By Mike Bastin (China Daily)
Wenzhou's culture of entrepreneurship is a powerful drawcard
It may come as a surprise to some that many of China's larger companies are experiencing financial hardship and are even losing money. For example, the profits of Li Ning, a long-time beacon of Chinese consumer goods producers, fell 85 percent in the first half of last year, and there is already talk of losses this year.
So China's army of small and medium-sized enterprises now shoulder even more responsibility if the country's economic emancipation is to continue at such impressive pace.
Key to any substantial emergence among SMEs is the right partnership with another SME. But where does selecting an ideal partner begin?
What better place to start than Wenzhou, in Zhejiang province, with its culture of entrepreneurship and multitude of small and medium-sized, innovative enterprises. Venture capitalists in Europe and elswhere need look no further than this hotbed of business.
While most Chinese business people remain wedded to a corporate culture based on Confucian values, Wenzhou's army of creative yet market-oriented organizations set a benchmark of modern business for the rest to emulate.
In fact, the reputation of business people in Wenzhou stretches far beyond China. Across large parts of Europe and the US the entrepreneurs of Wenzhou have an enviable reputation for their business acumen.
Furthermore, recent finance and investment reforms in the city have made businesses there an even more attractive partner for international SMEs seeking an entry to, or expansion across, the Chinese market. As a result of recent initiatives by the central government, Wenzhou's entrepreneurs now have the freedom to set up small banks among themselves, possibly reducing or even eliminating the reliance on the country's larger banks and financial institutions, which are often out of touch with the latest business trends and commercial opportunities.
Even more exciting is the initiative allowing Wenzhou's entrepreneurs to make overseas investments directly in Chinese yuan. European finance houses should take note.
Allowing private investors more freedom to set up small banks is a welcome move, as is permitting individuals to make overseas direct investment in yuan.
So, where does this Wenzhou culture of entrepreneurship come from and will it endure?
Undoubtedly Wenzhou's coastal location and proximity to Shanghai has played a role. However, the city's appetite for aptitude in business dates back centuries. So Wenzhou's reputation has not accrued just since China's reform and opening-up policy began in the late 1970s.
Once renowned for light industry and portable products, Wenzhou's entrepreneurs have now built successful businesses, most of which trade internationally as well as nationally, across the full range of manufactured goods and services.
Clearly, the Wenzhou entrepreneurial and enterprise culture is here to stay, so European and US small and medium-sized enterprises and entrepreneurs need look no further than it.
Finding the right partner has always been, and will probably always be, key to success on the Chinese mainland. Smaller companies often find this even more difficult with fewer financial and human resources to enable a thorough search. Partnerships between large and small enterprises are notoriously prone to failure, given the imbalance in power between participants. Wenzhou's small businesses are also acutely aware of the challenges facing smaller companies throughout the country.
Market opportunities will increase nationally, especially in second and third-tier cities. But success in these cities is even more challenging than in the first-tier cities, and flexibility and a suitable Chinese partner are all important.
Wenzhou business partners will prove ideal at decoding consumers and other aspects of the business environment across China's lesser-known towns and cities
Despite these compelling reasons, a note of caution is needed in considering any kind of tie-up with a small business in Wenzhou.
Many of them continue to pursue a low-cost, low-price business model in which short-term profit and speed of distribution dominate. Long-term investment in building premium brands rarely takes place. Hence the vulnerability to even slight downturns in economic conditions and consumer purchasing power.
That means that with European and US export markets struggling, Wenzhou's businesses are in even greater need of a suitable European or US business partner.
Selecting a partner in the city should not just look at financial criteria but at the attitude toward training and adapting to a more modern, brand-oriented business culture.
It is likely that Wenzhou's small companies have been influenced by the dominance of China's largest, mainly state-owned, organizations and their outdated, conservative approach to business. The city's entrepreneurs have not just earned a reputation for spotting a market opportunity but have also demonstrated agility and adaptability in the process. This can be seen in the vast array of products and services on offer.
Possible tie-ups with Wenzhou business partners should not just be seen as an exciting opportunity for joint expansion across China. Wenzhou partners will be extremely interested and able to provide investment in any attractive business opportunity in any market.
The author is a visiting professor at the University of International Business and Economics in Beijing and a researcher at Nottingham University's School of Contemporary Chinese Studies. The views do not necessarily reflect those of China Daily.

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Headlines are replete with technology news about the gig economy — the increasing use of contract, freelance, and other paid by the hour workers by companies rather than salaried, full-time employees. More and more Americans are gig economy workers, and some economists forecast that the numbers will rise even higher in the future.
But what is it really like to work in the gig economy and what effects does gig work have on income? Well, Stanford Economics professor Paul Oyer worked in several gig economy firms as part of his research. His findings from stints at Uber, the ride-hailing app firm, and Upwork, which employs freelancers in writing, design, computer programming, and other work, are surprising.
The Gig Economy as Equalizer
For one thing, Oyer sees the gig economy as something of an alternative safety net for both people and categories of workers. As he notes, over the past several decades, the income of men without a college education has gone down in real terms, while the income of people with a professional degree has more than doubled.
When asked about the contribution of the gig economy to rising U.S. income disparity, however, he says that a gig economy job might not be the driver of income inequality, but serve as an equalizer of salaries. People who may have lost jobs in manufacturing or retail, for example, can take up at least some of the slack by finding gig economy jobs for firms like TaskRabbit (where people perform multiple tasks requested by customers) or Shiftgig.
He also feels that gig economy workers make more. Data show that they make 6% less per year than salaried workers do, but also that they make 15% more per hour. Oyer hypothesizes that the lesser earnings may stem from the increased flexibility of gig work.
In addition, he points out that the gig economy equalizes wealth around the globe. At least some gig workers come from relatively poor overseas countries, and the income they earn contributes to equalizing the wealth disparity between those countries and the developed world.
Uber drivers and other gig workers make entrepreneurial decisions every day.
Oyer also thinks that gig workers are mini-entrepreneurs. Those who are successful must make precisely the same determinations about business strategy and cash flow as both start-up and established entrepreneurs do.
He found, for example, that even though the gig economy is supremely flexible — gig workers for both Uber and Upwork, his chosen companies, ostensibly work when and as much as they want — the workers in it often feel pressure to work more. Demand is variable, and Uber drivers, for example, make more if they drive at night and at times of surge pricing. Thus, they may be balancing their desire for flexibility with the desire to increase their cash flow for the month.
Indeed, Oyer and his colleague were initially interested in gender disparities in the gig economy and were investigating them in Uber. Male Uber drivers make, on average, 7% more than women do. Their hypothesis when the study first began was that men worked at night and chased higher-paying assignments, such as surge hour work, and that women fitted it in with family responsibilities, driving primarily on the weekend.
However, they found that the gender pay disparity was actually due to two factors: 1) men drove more (and faster, which increases earnings on the Uber platform) and 2) they tended to be Uber drivers over a longer period of time, which increased their ability to strategize methods to maximize their earnings.
So the benefits of the gig economy might be the increased entrepreneurialism of the American workforce, according to at least one source.


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Side-stream products of malting have potential in food
Researchers have found the waste product generated from the process of malting has antioxidant properties and has potential to be used in the food industry.
Malting, the processing of cereal grains into malt, generates rootlets as a side-stream product, which is currently mostly utilised as animal feed. However, this leftover material has not only a high protein content, but also high amounts of phytochemicals, according to a recent study from the University of Eastern Finland, published in npj Science of Food.
The study utilised metabolomics to analyse samples from grains of four cereals typically used in malting: barley, rye, wheat and oats. The researchers were particularly interested in phytochemicals, which are bioactive compounds produced by plants. Many phytochemicals have been shown to work as antioxidants and to have other potential beneficial health effects.
Samples were taken during several steps of the malting process, such as from malted grains, wort and water extract, as well as from rootlets and spent grain, the side-stream products of the processing. The main finding of the study was the observation of 285 different phytochemicals, most of which were found in the side-stream products, especially the rootlet.
The germination occurring in the beginning of malting increased the levels of several phytochemicals compared to the unprocessed grains, and also produced compounds that were not abundantly present in the original grains.
The study said it has been estimated that the protein contained in the side-stream products of malting could fulfil the annual protein need for five million people.
The biggest challenge in utilising the side-stream products of malting in foods is their taste and other sensory properties, which may not be acceptable as such, according to lead author Ville Koistinen from the University of Eastern Finland.
“They would likely require further food processing, such as fermentation, so that they could be used to increase the nutritional value of white bread, for example,” Koistinen said.
The health effects of phytochemicals are a hot topic among scientists because their mechanisms are largely unknown.
“However, we do have increasing evidence that the protective effect of plant-based foods against several diseases is at least partly attributable to the phytochemicals contained within them, and that these effects can only be obtained by eating plants, not from pills or supplements containing individual compounds.”
New research has been launched that analyses how consumers respond to colours in foods and branding.
A study was conducted to understand how fraudulent and unauthorised additives were sold in herbs...
Researchers in Texas are developing a sorghum crop that is ideal for popping and may be...


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Trelleborg: “We Will Continue to be a Successful Company”
The president of Trelleborg’s Agricultural and Forestry Tire Business Unit, Paolo Pompei, has commented that the division will go ahead with the investments planned for the next two or so years. “In a time of uncertainty such as this, some companies choose to reduce, freeze or even dispose of their investments,” Pompei commented. “Trelleborg, however, looks to the future in a positive way and continues with all its planned investments for 2009 to 2011.” In its 2008 annual report, Trelleborg stated investments in the agricultural tyre sector would focus upon “further development of the customer offering.” The company outlined that its Wheel Systems’ development centre in Italy is in the process of working on the next generation of high-performance agricultural tyres in cooperation with leading machinery manufacturers, and is preparing to present new products that address the key requirements of high speed road capability, comfort, roadholding, low soil impact and environmental sensitivity.
Despite this optimism, the division president admits 2009 has not been an easy year, and the recovery will not arrive overnight: “For months the global crisis has affected all sectors of the economy. The outlook though is better, as leading analysts predict that from 2010 demand for consumer goods should gradually increase. However, it is still extremely difficult to foresee the timing and extent of a possible recovery with any degree of certainty.
“The situation within our industry is complex, with its overall state depending on many interrelated causes,” Pompei continued. “The credit crunch has had serious consequences everywhere, especially in the countries of Eastern Europe, an area where many agricultural machinery manufacturers had expected to achieve double-digit growth. In this region, we have seen a really sharp fall in registrations of agricultural vehicles, particularly in the medium and high-power tractor segment. The difficulties of the major vehicle manufacturers have a direct knock affect on us, the agricultural tyre producers that supply them.”
Yet while a full recovery following the downturn is still to come, Trelleborg is already planning for this inevitable occurrence. “I believe it’s important to define the strategic plan for the medium and long term, continuing along the path we have chosen without allowing the current crisis to divert us,” Paolo Pompei explained. “Thinking positively, certainly the agricultural machinery sector has good prospects for growth, particularly in the US and Eastern Europe. My optimism is founded on the knowledge that we can rely on our people – we have assembled a winning team, made up of professionals who live and breathe agriculture every day.
“Within Trelleborg Group, and particularly in our business area, we believe that the best way to cope with difficult times is to share information and embrace a common strategy,” Pompei concluded. “For this reason, despite the crisis, we will continue to be a successful company.”


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“Lansing strong” might be the mantra for the 2016 Camaro. Sales have been brisk and it’s built at the capital city’s Grand River Assembly. Current State's Peter Whorf speaks with Camaro Executive Chief Engineer Al Oppenheiser.
The newest car models are arriving at the Detroit Auto Show, but the Gilmore Car Museum in Hickory Corners always has the classics on display. Gilmore Marketing director Jay Hollis talks with Current State's Peter Whorf about vintage autos and Michigan’s early dealerships.
Forty years ago, Lansing said goodbye to a proud piece of its civic identity. In May 1975, the Diamond REO truck factory on Washington Avenue closed its doors, ending seven decades of Oldsmobile production in Lansing. Today, just one of those original buildings remains, and it will soon be adorned with a work of art celebrating the Oldsmobile era. It’s a mural, and when it’s finished, it will measure 56 feet long by 28 feet high.
All this week, we’ve been taking you to the Detroit Auto Show to see what’s new, what’s groundbreaking, and what’s just plain fun. On the main floor of the auto show, you can see a massive 3D printer, and it’s printing a car. And if you venture to Hall E in the Cobo Center, you can see the finished product.
Current State's Scott Pohl talks with Lee Herge, Chief Operating Officer of the Chandler, Arizona based Local Motors.
The Detroit Auto show is in full swing in downtown Detroit. Two very different automakers are grabbing a lot of the electric vehicle attention at the Cobo Center this week. Current State's Peter Whorf has the latest on the electric cars on display at the North American International Auto Show through Sunday.
What’s made in Poland and is named after the Spanish word for waterfall? It’s the newest convertible from Buick, the Cascada, unveiled this week at the Detroit Auto Show. The North American International Auto Show is in full swing at Detroit’s Cobo Center this week. Current State will bring you all the latest these next few days in our NAIAS series.
More than one auto writer has taken to calling the Big 3 automakers “truck companies that also make cars”. Trucks and SUVs have become the most successful categories for automakers in recent years, particularly for General Motors and Ford.
New contract bargaining between the United Auto Workers union and American automakers is scheduled for next year. Recently, we’ve been getting a clearer picture of the union’s priorities. UAW President Dennis Williams has indicated members want to eliminate a recently introduced feature of the autoworker landscape: “two-tier” wages and benefits.
Jalopnik's Aaron Foley singles out this ad for the Toyota Prius as an example of the auto industry's stereotypical marketing to minorities.
Target marketing is nothing new. From their cleaning products to fast food to pick-up trucks, companies have been directing their advertising at certain segments of the population for ages. But when does target marketing cross the line from just good commerce into perpetuating stereotypes about certain groups in our society?
Aaron Foley, a Detroit-based writer for Jalopnik – Gawker Media’s popular blog on cars – had a post on the subject last Friday in which he wrote, “As a minority, it’s borderline insulting that automakers are over-thinking this.” He says that the auto manufacturers are particularly egregious offenders of using stereotypes to market their products to minorities. He joins us to elaborate.


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Taiwanese manufacturer of Nike, Adidas shoes commits $280m for first factory in India
The Taiwanese sports shoe maker says this can be the first of many investments in the country.
Taiwan’s Pou Chen Group, the world’s largest manufacturer of branded sports footwear, pledged to invest INR 23b (about $280m) in India to set up a manufacturing plant in Tamil Nadu, a state located in the southernmost tip of the Indian peninsula.
Through its subsidiary High Glory Footwear, the group signed a structured package agreement with the government of Tamil Nadu on Monday to mark the Indian debut of the company known for manufacturing popular athletic and casual footwears like Nike, Adidas, New Balance and Timberland.
“This is a very important milestone in our company’s history. We hope this will be the first of many investments to come (in India). We look forward to your continued support for our future growth here,” George Liu, vice president of Pou Chen, told Tamil Nadu chief minister MK Stalin in a meeting streamed online.
The investment is expected to create jobs for more than 20,000 employees in the non-leather sector over the next 12 years, especially for people in and around the Kallakurichi District where the plant will be situated.
Pou Chen manufactured and shipped over 272 million pairs of shoes in the financial year 2022, up 14 percent from the year prior. The upcoming Tamil Nadu facility will add to its existing production plants in other parts of Asia, including Taiwan, China, Indonesia, Vietnam, Bangladesh, Cambodia and Myanmar.
Pou Chen is the latest Taiwanese shoemaker to set up shop in India after Hong Fu Industrial Group, a manufacturer of sports brands like Nike and Puma which pledged to establish its own production line in Tamil Nadu exactly a year ago.


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With the lockdown having been lifted and the markets in Gurgaon returning to normalcy gradually, shoppers have started returning to some of the bigger markets in the Millennium City
. With the festive season
approaching, many have turned to their old, trusted markets for their festive shopping, albeit with some caution. Factors like trust in local shops and adequate sanitisation and social distancing measures adopted by malls and markets have helped shoppers overcome their fears of the pandemic. Stepping out to shop
From the different malls of the city to shops in major markets such as Sadar Bazaar
feature prominently among the festive shopping plans of many Gurugrammers. Some prefer places like Arjun Marg, Huda Market
in Sector 14, Sikanderpur Market, Banjara Market or even slightly more upscale places like Galleria. "I begin my shopping for Teej
and Raksha Bandhan
around a week before Teej," says Sector 56 resident Nidhi Sharma, adding, "I did the same this year. My husband was afraid that with the pandemic, we should not go out. But offices are open, malls are open, so why should we stay away?"
Ritika Jaiswal, a Sector 43 resident, says, "Even though proper festive shopping hasn’t begun yet, I have still been out a few times, mainly to buy rakhis and gifts for my brothers. Thankfully, the markets reopened in time for me to be able to buy all I wanted." According to many of the shoppers, with the weather turning favourable, it is not a hassle to go out for shopping. 'Online shopping can’t match the joy of shopping in markets especially during festivals'
Many of the city's residents say that even though you can get much of the same stuff online as well, they prefer their trusted shops to which they have been going for years. When it comes to shopping during the festivals, Gurugrammers say they prefer to visit shops themselves, rather than shop online. Ritesh Ahlawat, who stays in DLF Phase 1, tells us, "There is a certain trust factor with local markets and with the shops you have been going to for years. That does not exist in online shopping. I have shopped for clothes online but for more traditional and festive clothes, I prefer to go to a market physically."
With the festive season approaching, many have turned to their old, trusted Gurgaon markets for their festive shopping, albeit with some caution
And with the safety and sanitisation measures taken by shopkeepers and market associations, customers say they are somewhat at ease. Kavita Singhvi, who went out for Raksha Bandhan shopping with her family to Arjun Marg Market
last week, says, "Most of the markets in the city have taken a lot of measures to ensure social distancing and sanitisation. There are fewer crowds and everyone wears masks so it does feel safe. All you need is to take adequate precautions and then continue with life." 'Footfall of shoppers is on the rise'
Those who haven’t started shopping yet are also looking to head out soon. "I have made a wish list of the things that I want for a few of the upcoming festivals and like every year, I want to head out to the local markets for that. I know it’s still risky but I am prepared to wait a few weeks," says Aparna Gautam, a Golf Course Road resident.
While the footfall is still lower than previous years, shopkeepers say that it is gradually increasing
Shopkeepers report that since people are coming out for festive shopping, they are replenishing their stocks. "It usually begins around Rakhi
and continues from there. Although the crowd is less as compared to previous years, but still, the footfall is increasing each day. We are hoping the numbers normalise by September when the real festive shopping begins," says a shopkeeper.


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Truckers are hauling more freight in the U.S. and charging higher prices for their services. This is fueling truck-buying demand as fleets replace old equipment. While economic risks tied to European contagion remain, U.S. activity suggests truck equipment suppliers are benefiting from both manufacturer sales and aftermarket sales to fleet operators. One company growing thanks to improving freight trends is Clarcor (NYSE:CLC), best known for its Baldwin filter division.
In 2011, new commercial vehicle registrations are expected to increase 17.6% with commercial vehicle registrations up 19.5%. The Q4 2011 Fleet Sentiment Report Buying Index improved 22% from last year, suggesting large fleets continue to upgrade aging equipment. Driving this demand is pricing power.
In October, the Cass Truckload Linehaul index, which measures linehaul pricing power, came in at 108.8, up 9.8% from last year. Cass also reported October volume was 2% higher than October 2010. TransCore also reported higher prices across all equipment types in October as its Freight Index, which measures spot market volume, increased 36% year over year to the best reading since 2005.
This strength is fueling class 8 production and sales. North American medium and heavy-duty truck production is up 59.4% from 2010 through the first nine months of 2011, with class 8 truck sales up 69.5% in September. Next year, ACT Research expects production of 295,000 class 8 trucks. Production and sales strength is supported by healthier freight markets. September's freight shipments were up 0.9% from August, according to BTS, and year-to-date freight shipments are 2.5% higher than 2010.
Thanks to growth in engine filters for trucks, trains and off-highway vehicles, sales in Clarcor's engine and mobile filtration segment, which accounts for 45% of company sales, increased 9% last quarter. The segment accounts for 65% of Clarcor's operating profit and boasts a solid 23.3% operating margin.
Higher volumes for rail operators have reduced the number of locomotives in storage, which helped Clarcor's rail sales increase 7% in the first nine months. Similarly, Caterpillar's (NYSE:CAT) 31% year-over-year sales growth and expectations for 10-20% growth next year indicate off-highway filter demand upside.
And while Clarcor's sales were strong, they would have been even better if OEMs in China hadn't unexpectedly drawn down inventory last quarter. The drawdown pushes Clarcor sales into Q4, with the company forecasting full year China sales up 30% from 2010.
Clarcor is also seeing sales strength in its industrial and environmental segment, which accounts for 46% of sales and grew 10% last quarter. The segment benefits from rising natural gas production, which has climbed 20% in the U.S. since 2005 and is running 6.7% above 2010 so far this year. This production growth is driving pipeline and infrastructure investment, which supports demand for Clarcor's natural gas filtration products.
Across the whole company, Clarcor sales were up 8% to $284.8 million last quarter. Sales in the first nine months are up 11%. And higher sales and cost controls are boosting profits with year-to-date gross profit up 12%. SG&A this year has fallen 1.5%. And, Q3 margins were the third highest in nearly 20 years. Operating margins have similarly improved, rising 1.7% year-to-date from 2010. Margin strength has helped Clarcor's balance sheet, with cash and equivalents increasing $10 million in the past year to $128.1 million at the end of Q3.
Analysts expect the strength to drive 26% EPS growth this year with an additional 11% expansion in 2012, Currently, investors are paying 22x earnings. If they're willing to pay a similar multiple next year, shares may trade up to $58, a jump of 21.5% from where they're trading today. Given there are 6.6 days to cover held short, the company has beaten the Street estimate in three of the past four quarters, and freight demand metrics remain strong, investors should be rewarded in 2012.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in CLC over the next 72 hours.


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California Cannabis Labs Raising the Crest?
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At midnight on January 1, 2018, Californian’s didn’t hit the beach to surf. Instead, they could legally possess cannabis. The question is: How did legalization affect the state’s testing labs? Samantha Miller, President and Chief Scientist at Pure Analytics, made time to talk about the impact on her business.
When asked if the testing volume changed since the start of 2018, Miller says, “Absolutely!” She adds, “It’s difficult to say how much it will increase over the long term, but I don’t think it would be out of the realm of possibility that within six months my business will have doubled.”
The increase started even before the legalization. “At the end of 2017, a significant number of cultivators and manufacturers were concerned with seeing how their products would fare against the upcoming regulations,” Miller explains. “They came to us for testing and advice around new requirements like moisture content, pesticide or bacterial requirements that they didn’t look at in the past.”
Investing in cannabis testing equipment
The changes in testing requirements also triggered Miller to update the capabilities of her labs. “About nine months ago, we made capital equipment purchases to meet the proposed state testing requirements,” she says. “It required taking some risks and making educated guesses about where they would land, but we had a clear enough view to make the right moves at the right time.” So, her lab added a triple-quadrupole mass spectrometer in May 2017. “It’s great for doing trace pesticide analysis for a large number of compounds the state requires to be included,” Miller notes. “We use other specialized equipment, like [gas chromatography-electron capture detection, GC-ECD], to analyze specific classes of contaminants, such as chlorinated pesticides, to achieve the best detection and identification methods possible.”
For all requirement changes that California added, testing labs need to accommodate them, and that can take some effort. “Anything new the state asks us to do, we have to work that into our accreditation,” Miller explains. “Each change requires we have an auditor come out to verify the method validation and audit the process.”
Cannabis testing customers are changing
It’s not just the equipment that’s changing. “Before the first of the year, dispensaries were a significant part of our customer base,” Miller says. “After the first of the year, the mix of who is testing has changed rapidly to very few dispensaries continuing with their independent testing programs and submissions to labs occurring more exclusively in the manufacturing and distribution segments.”
The changes in California’s cannabis market create a new confidence about the future for testing labs. “It’s an exciting time of transition,” Miller says. “The greater level of oversight and requirements for quality control hopefully support the expansion of a burgeoning cannabis market by increasing the environment of permission for consumers new to cannabis to try it for the first time—now with the confidence of a greater level of consumer safety and government oversight.”


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Meta has announced a search-by-category feature on WhatsApp, allowing users to look for their desired businesses on the platform in a more organized manner. The company is also adding a capability to let users search for a business by entering its name and making secure payments.
Recently, WhatsApp released several new features for its users, such as a 32-person video chat capability and WhatsApp communities that combine different group chats under a single community. It also unveiled in August how users' shopping experience in India would be end-to-end encrypted while giving access to JioMart's complete product catalog.
Expanding on the idea of shopping, Meta’s latest announcement lets users browse for businesses on the platform using categories like banking or travel. They can also look for a particular business by searching its name. According to the company, the capability protects people’s privacy when finding businesses, as the search results cannot be linked back to their accounts.
Meta added that the newly joined businesses on the platform include ones selling groceries or train tickets or helping users open bank accounts. It stated:
“We want people to be able to make a secure payment right from a chat with their credit or debit card, and we recently launched this experience in India. Now, we’re excited to be testing this in Brazil with multiple payment partners. This seamless checkout experience will be a game-changer for people and businesses looking to buy and sell on WhatsApp without having to go to a website, open another app or pay in-person.”
Users in the U.K., Indonesia, Mexico, Colombia, and Brazil can access the search feature and look for businesses using the WhatsApp Business Platform.


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CEW’s bi-monthly Founder Fridays event, which unites small brand founders to discuss business solutions, is moving to Clubhouse.
Beginning Friday, April 16, CEW will debut in The Beauty Club on Clubhouse for a free live panel that this week will feature Asian beauty brand founders. The panel will be moderated by Michela Wariebi, Makeup Artist, Beauty Educator and Originator of The Beauty Club, from 12 p.m. to 1:30 p.m.
CEW Founder Fridays launched in April 2020 at the height of the pandemic as a way for small business founders to connect on a virtual platform to discuss business solutions. The advent of Clubhouse, the audio-only live social platform, presents an opportunity for additional brands to access the CEW community, and get a sense of what CEW membership and events provide.
Panelists during the CEW Founder Fridays: Asian-Founded Beauty Brands Clubhouse event will candidly discuss how they’ve grown their brands, overcome business challenges, and how the beauty community can rise up against Anti-Asian discrimination.
- Lin Chen – CEO & Founder, Pink Moon
- Sarah Cheung – Co-Founder, SACHEU Beauty
- Sophia Hong – Founder, Mask Moments
- Angela Jia Kim – Founder, Savor Beauty
- Connie Lo – Co-founder, Three Ships
- Emily Rudman – Founder, Emilie Heathe
- Moderator: Michela Wariebi – Makeup Artist, Beauty Educator and Originator of The Beauty Club
Clubhouse is an app available for iPhone users only. To get started on the app, one must receive an invite from a current Clubhouse member. CEW members currently on Clubhouse can “pay it forward” by sharing one of the platform’s invites with a fellow CEW member by clicking here. Or, if you’re a member who needs an invite, let us know here. Follow The Beauty Club on Clubhouse to receive event updates. This event is free. For any questions, please contact Leslie Hutchings, VP of Strategy & Membership, at [email protected]


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Kate Spade & Co reported quarterly sales that were better than had been expected at its established stores, boosted by the demand in its kate spade new york handbags as well as accessories.
Stock at Kate Spade, known for colorful and quirky totes and satchels, rose by up to 6.7% in early Tuesday trading.
The company has focused on its brand kate spade new York while investing the company’s online business, strategies analysts have said helped the business fight effects of drops in the overall handbag market across North America.
Kate Spade also has expanded its own flagship line now that includes children’s products and home décor, from kids apparel and purses to rugs and furniture.
The new products across its flagship line help continue the company to continue acquiring new customers, said Craig Leavitt the CEO on a call with Wall Street analysts.
Sales growth at same-stores contrasted with that of its larger rivals such as Michael Kors and Coach, both reported a drop in sales at same-stores in the holiday shopping quarter.
On retail analyst said that Kate Spade now has brand uniqueness and clarity that is lacking at this point in brands like Michael Kors and Coach.
Because of the brand awareness, customer traffic is pulled into stores easier and products can be sold at higher price points, without the need for deep discounts just to move stock, added the analyst.
The company said that it expected sales at same stores to expand as high as the mid teens percentage wise. Analysts have forecast 10.6% growth in same stores.
Excluding certain items, the company’s earnings per share were 32 cents, which matched estimates of analysts.
Net sales increased by 7.6% to over $429 million, which missed the estimates of analysts calling for $441.5 million.
The company, which expanded in 2015 to eight countries, announced it would open locations in India through its agreement India’s Reliance Brands, a unit of Reliance Industries Group.


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BUTTER is leading the charge in lifting prices on Global Dairy Trade. By: SIMONE SMITH
Butter lifted by 3.4 per cent to $US6004/tonne at the auction last week.
However, Dairy Australia analyst John Droppert said there was not “a great deal of direction” in the market.
He said this was reflected in last week’s GDT auction where average prices increased 0.2 per cent to $US3387 a tonne.
Mr Droppert said the EU had started accepting a few tenders for the SMP intervention and this injected a level of “uncertainty” in the market. The GDT SMP auction dropped 3.2 per cent to $US2024/tonne.
“At the same time, Chinese milk production doesn’t appear to be growing,” Mr Droppert said.
“There are new numbers around suggesting production is dropping. The Chinese milk production outlook is a bit shaky.”
Butter prices have continued to “defy gravity”, according to Mr Droppert, as the spread between protein and fat products widen.
Meanwhile, Bega Cheese adviser David Williams said it was likely the $37.5 million share purchase plan for smaller shareholders would be oversubscribed, but still encouraged dairy farmers to take up the opportunity.
Bega Cheese announced a $160 million capital raising plan last month which included the $37.5 million share purchase plan for its smaller shareholders. Those eligible have the right to purchase up to $15,000 of Bega shares at $5.25 a share.
The capital raising ends next Monday, but Mr Williams said this week “the way it was going” it could raise $50-$60 million.
He said the oversubscription would give Bega Cheese the option to take the extra funds or scale the share uptake back on a pro-rata basis.
He said the course of action wasn’t decided yet, but encouraged dairy farmers to take up the opportunity to make a quick financial gain.
“Based on the closing share price of $6.89 on 21 July 2017, shareholders taking up their full $15,000 entitlement would buy shares currently valued at $19,686, a profit of $4686,” he said.
“Theoretically speaking, a farmer could pay $15,000 today and sell shortly thereafter and make a gain of $4600.
“Bega Cheese shareholders look set to make a quick 30 per cent profit on new shares acquired in the capital raising.”
Source: The Weekly Times


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China is facing a severe economic crisis as a record number of borrowers face defaults in echoes of the 2008 global financial crash.
Defaults by Chinese borrowers have surged to an unprecedented level since the Covid pandemic as the country faces huge economic challenges.
Official records now show a staggering 8.54 million people in China, primarily between the ages of 18 and 59, are officially blacklisted for missing payments on various financial obligations, ranging from home mortgages to business loans.
This figure has sharply risen from 5.7 million defaulters in early 2020, as lockdowns and economic restrictions stemming from the pandemic significantly impacted economic growth and household incomes.
The surge in defaults, equivalent to about one per cent of working-age Chinese adults, poses a considerable risk to the world economy.
Making the situation worse for individuals, China also does not have any personal bankruptcy laws, intensifying the financial and social repercussions of escalating debt.
Under Chinese law, blacklisted defaulters face restrictions on numerous economic activities, including purchasing plane tickets and making payments through popular mobile apps like Alipay and WeChat Pay.
The economic strain is also visible in the surge of household debt, which almost doubled over the past decade to 64 percent of the Gross Domestic Product (GDP) in September. Wage growth has either stalled or turned negative amid the economic downturn, making financial obligations increasingly challenging for many Chinese consumers.
The economic challenges extend to the job market, with youth unemployment reaching a record 21.3 percent in June. Authorities have even stopped reporting this data.
Financial institutions are also feeling the pressure, with China Merchants Bank reporting a 26 percent increase in bad loans from credit card payments that were 90 days overdue in 2022 compared to the previous year.
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As the number of defaults rises, legal experts have proposed introducing personal bankruptcy laws to provide relief for individual insolvencies.
However, the lack of transparency regarding personal finances means implementing such measures is near impossible. Government officials and other interest groups will block these policies, fearing the exposure of corruption.
Adding to China’s challenges, a recent pneumonia outbreak further strains the nation. The Department of Health recorded 182,721 cases as of November 11, surpassing the 158,307 cases reported from January to October last year.
This economic crisis also unfolds against a backdrop of escalating tensions in the region, with Taiwan set to elect a new President, further complicating geopolitical dynamics in the Asia-Pacific region.
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There seems to be this bearish perspective in regards to the future of GoPro, Inc. (GPRO). Is it a tech company or a media company? Is it both?
What GoPro has going for it now is the fact that people love their product. They're not extremely high priced and customers use them...a lot. But what can the company do to capitalize on that? How about creating some shows (leaning more towards extreme sports) using their own cameras?
There is great talk that is the direction that GoPro is going to choose for growth. The path of a media company. But as of now the "street" is not buying it because they have some many competitors that range from Microsoft (MSFT), Sony (SNE), Amazon (AMZN) and even Apple (APPL). Competitors in the sense of technology companies already well established in the media arena. And not to mention that they have a war chest that will crush GoPro.
Maybe GoPro is a possible takeout target? Only time will tell.


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Harvard Business Review - Ideas And Advice For Leaders
Find new ideas and classic advice on strategy, innovation and leadership, for global leaders from the world's best business and management experts.
Actived: Sunday Aug 16, 2020
Unused Coupons Still Pay Off
Conventional wisdom holds that manufacturers and retailers see little benefit from unused coupons, but new research shows that unredeemed coupons serve as advertisements to consumers. In an experiment with eight retailers, the authors analyzed campaigns involving more than 500,000 targeted coupons for items representing more than 300 brands


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In China, a “Golden Week” represents a full seven-day work free holiday. For the past several years, Chinese New Year also known as Spring Festival (based on the Chinese lunisolar calendar beginning in January or February) and the National Day Holiday (around October 1st) have been the main holidays for these weeks. These extended holidays create an opportunity for long distance travel as many in China live far from their ancestral hometowns and use this time to visit family. These holidays have been seen as an economic driver to support the domestic travel and tourism industries.
National Day Holiday
National Day is to commemorate the establishment of the People’s Republic of China on October 1st, 1949. Typically, the official holiday (October 1st) is scheduled with the first or last three or four days of the week along with the weekend before or after the holiday, making seven consecutive days off work. Additionally if Mid-Autumn Festival falls during this time, the Golden Week may be extended to eight days long.
Mid-Autumn Festival (this year also on October 1st based on the Chinese lunisolar calendar) considered by some to be the second grandest festival in China after Chinese New Year is a time of family reunion during the autumn harvest full moon. Families hold a large dinner with many special foods. The most unique food related to the holiday is mooncake. Mooncakes are usually round pastries that include many different varieties of sweet or salty fillings. Moon worship was a significant part of the festival especially in the past with several related stories involving Chang’e, goddess of the moon. There are many other related traditions, with one being lantern making with some writing riddles on their lanterns for others to guess the answers.
By September 14th, domestic air ticket bookings for the Golden Week had already surpassed the number from last year, according to Qunar, an online booking platform. The holiday brings about a huge flow of people nationwide, last year nearly 800 million visits were made during this week. Thus, many are stressing the importance of increased COVID-19 mitigation during this holiday. Some Chinese universities have already shortened the holiday and encouraged students not to leave campus for nonessential travel to prevent potential epidemic spread. The Ministry of Culture and Tourism has demanded that cultural and tourist sites limit visitor numbers to no more than 75 percent of their maximum receiving capacity. Some Chinese experts have stressed the possibility of a reassurance of COVID-19 cases stating recent reemergence in countries in Europe over the last weeks.
PRI has owned and managed over 28 operations in China and our highly experienced consulting team “thinks like business owners”. We will provide value-added solutions to help you meet your goals in China. In a free introductory consultation, we start by listening and seeking to understand your business’ unique goals and challenges and then we help you to formulate a clear China strategy customized to achieve your goals. Our clients often approach PRI with issues related to setting up a new WFOE (Wholly Foreign-Owned Enterprise), hiring strategic engineering, sourcing, operations, or finance personnel, hiring general managers or senior leaders for their China entity, due diligence support for M&A activity, or building domestic China sales and marketing teams to bring their technology to one of world’s fastest growing markets. For more information please email (email@example.com).


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Johnstone Douglas has announced a record 45 per cent increase in new business for its financial year ending May 31, 1999.
The specialist employee benefit and financial planning consultancy recorded new business sales of £10.2m for the year up from £7m last year.
The firm is confident that the market move towards money purchase pension schemes and the advent of stakeholder will provide it with further opportunity to build on this record year.
Its new business target for the financial year 1999/2000 is £12.5m.
Johnstone Douglas is looking to expand its sales force from 35 registered individuals to 50 by the end of the year.


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For the third week since its debut in Early Access, Valheim was the best-selling title on Steam.
The Viking survival game holds onto the top spot and continues to be hugely popular, selling over three million copies in its first 16 days in the wild. Within the last 24 hours, Valheim hit a concurrent user peak of 498,478 people.
Second place goes to Lightning Games' Tale of Immortal, while Valve's Index VR Kit rises up three positions to take No.3. Battle royale progenitor Playerunknown's Battlegrounds holds onto fourth place for the second week in a row, while Rust from Facepunch hangs on in the No.5 spot from last week. The Complete Edition of Koei Tecmo's soulslike Nioh 2 drops from third place to No.6, while EA's Battlefield V returns to the Top Ten in seventh place.
Sea of Thieves from Microsoft jumped up one position last week to No.8, coming in ahead of Rockstar's Grand Theft Auto V.
Rounding up the Top Ten last week was pre-orders for the upcoming Persona 5: Strikers, which is set to launch tomorrow (Tuesday February 23rd).
Here is the Steam Top Ten for the week ending February 20th:
1. Valheim, Coffee Stain
2. Tale of Immortal, Lighting Games
3. Valve Index VR Kit, Valve
4. Playerunknown's Battlegrounds, PUBG Corp
5. Rust, Facepunch
6. Nioh 2: Complete Edition, Koei Tecmo
7. Battlefield V, EA
8. Sea of Thieves, Microsoft
9. Grand Theft Auto V, Rockstar
10. Persona 5: Strikers, Sega (P)


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Presently 18 states now have set limits on cannabis levels of intoxication while driving. Toxicology results, however, take several weeks. With cannabis becoming more and more socially acceptable, a breathalyzer is inevitable.
Focused on the technology opportunities in cannabis, New West Summit is a two-day conference held in the heart of downtown San Francisco where startup founders, investors, incubators and innovations in cannabis gathered to share and learn.
Meadow, the Y Combinator-backed enterprise, was one of the first delivery apps to hit the cannabis market. Meadow was touted as a direct-to-consumer product. Meadow's new platform is a software suite formulated for the modern dispensary enterprise- and helping dispensary owners get a head start on the new regulations for California.
“What sets New West Summit apart from other cannabis business conferences is the extreme focus on new and disruptive technologies,” McAlpine told the SF Gate. “We are going to show the marketplace how tech will be a key component in the integration of cannabis to mainstream culture.”
The Green Exchange, Inc., the developers of “Big Green Exchange” – the nation’s only certified online medical marijuana auction site; and “Loud Cannabis” – the world’s first HIPAA compliant Farm-to-Table marijuana delivery service, announced today that the company received its second round of funding.


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Sure, you know to limit the number of Karlie Kloss Kookies you snarf down and to only hit the Mexicue truck on Fridays, but despite your best efforts, you may be sabotaging your diet — and your overall health— by eating certain foods that you only think are healthy.
It’s not your fault if you’re confused. From high-calorie fruit smoothies labeled “no sugar added” to snack bars with "organic” printed all over the wrapper, it’s hard to know what is — and isn’t — actually good for you, even if you’re not a nutrition virgin.
“Over the past 50 years, certain foods, including wheat and soy, have been genetically modified, so foods that were once considered healthy aren’t as good for us any more,” says Jeffery Morrison, M.D., a nutrition specialist in New York. “Add to that creative marketing, and it’s natural that people are getting confused.”
Here, we sleuthed out the biggest health offenders in your fridge and kitchen cabinets. Read on to find out what to avoid to improve your weight, energy, and health.
Photographed by Amelia Alpaugh
Chances are, you've heard that soy is good for you. And then, that it is, in fact, terrible for you. It seems like there’s a new study released every week on the benefits or evils of soy. So, what’s the verdict?
“The problem with soy is that it is almost always genetically modified,” says Dr. Morrison. The reason soy was modified in the first place was to increase crop yield and make it resistant to pests, he explains. “As a result, many people are allergic to it, which results in bloating and gassiness.”
Another reason soy is on the not-so-good list is that it contains phytoestrogens, which can make you have irregular or extra crampy periods. “A small amount of soy can be beneficial, but if you’re a vegan and eating it two or three times a day, the negative effects start kicking in,” explains Dr. Morrison. These include blocking absorption of vitamin K and B12, zinc, calcium, and magnesium, according to an article in the Nutrition Digest.
Breathe easy sushi fans: Edamame is off the hook. “A serving of up to 20 bean pods once a week or so is fine,” Morrison says. If you’re a veggie and can’t give up soy, look for tempeh, made with fermented soy beans; the fermenting process negates the negative effects of soy. Read the labels of snack bars and pre-made smoothies to see if they contain soy.
Photo: Via Amazon
You may pat yourself on the back for being virtuous when you sweeten your morning coffee with agave nectar, but the truth is it’s not likely better for you than plain, old sugar. “To turn agave into syrup, it goes through the same process that corn does when it is transformed into high-fructose corn syrup,” says Dr. Morrison.
And any benefits that agave once had — lower fructose count and calcium, iron, potassium, and magnesium content — get filtered out. “At the end of the day, agave syrup or nectar is a processed sweetener,” he says.
Photo: Via Amazon
Remember a few years back when pomegranate juice was all the rage? It was supposed to make us younger, prettier, and smarter — if you bought into the hype. Turns out, an eight-ounce glass has a calorie count equal to a full can of Coke.
“Pomegranates do have polyphenols and antioxidants, which are good for you, but it’s always better to eat the fruit than to drink the juice — no matter what fruit you’re talking about,” says Dr. Morrison. If you still want to drink pomegranate juice — the fruit is hard to eat, after all — cut it with seltzer to reduce the calories.
Photo: Via Amazon
Who can resist a mid-afternoon snack of buttery microwave popcorn? While the kind that is low in calories won’t derail your diet, eating it regularly may make it hard for you to have a baby (say what now?) and may increase your risk of Alzheimer’s disease. Your baby-making ability may be damaged by perfluorooctanoic acid (PFOA), a synthetic chemical used in the linings of microwave-popcorn bags, according to a study performed by UCLA.
The Alzheimers’ risk may be due to the presence of diacetyl, a chemical that gives popcorn that yummy butter smell. Many companies, including Orville Redenbacher, removed diacetyl from their products after workers and popcorn addicts developed respiratory diseases from exposure to the chemical. Be sure to check the ingredients on the box before popping up a batch.
Photo: Via Amazon
If the ageless Madonna and natural beauty Gwyneth Paltrow like it, it has to be good, right? Not necessarily. “If you are Madonna, and your chef is preparing homemade tofu (that is slow-cooked the traditional way and not overly processed) and fermented veggies and prepares food daily based on how you're feeling, then I can see a macrobiotic diet being somewhat beneficial,” says Aimee Raupp. M.S., L.A.C. and author of Chill Out & Get Healthy
However, it’s not likely you, a mere mortal, will have the time nor the resources to prepare macrobiotic meals in the way they need to be prepared for optimal nutrient absorption, she explains. And, because the diet is low on protein and healthy fats, you many ultimately wind up with a B12 deficiency and running on "empty," she says.
Photo: Via OZU Restaurant
What could be unhealthy about a steaming cup of oatmeal? If you’re gluten sensitive, turns out it can be a lot. Most oatmeals, including instant and those that you get at Starbucks and McDonald's, are likely to contain gluten, says Dr. Morrison.
Steel-cut oatmeal prepared the old-fashioned way on the stove is in the clear. Other seemingly healthy grains — barley, rye, and spelt — all contain gluten and can lead to bloating and constipation and make it harder for you to absorb all those vitamins and minerals from all those truly good foods you’re eating.
Photo: Via Kashi


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Russell Hamblin-Boone, Chief Executive of the Consumer Finance Association, which represents the major short-term lenders operating in the UK, said:
“We are surprised by the Government’s announcement as we already have voluntary caps on the number of times a loan can be extended and on fees and interest for people in financial difficulty.
“If the objective of the proposed cap is to drive out rogue lenders the Australian experience has had some success, however it has not reduced household debt or the need for credit. Instead there has been an increase in the number of people who turn to the growing illegal lending market, which the Australian regulator has admitted is a problem.
“We look forward to the detailed discussions as to how a cap on the cost of credit will actually benefit consumers in the UK and impact on the availability of flexible credit.”


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Anthropologie is back as the main prospect of anchor tenant at The Promenade but sewer availability is holding up the project, according to an investor.
The clothing and home décor store was initially planning on coming to Newtown but late last year retracted its interest in the mixed-use development slated for the former Acme site on Sycamore Street.
Now, the store is again interested in becoming the anchor tenant, provided the project is completed by July 2015, according to project investor Jim Worthington.
But that promise hinges upon sewer availability, Worthington said.
“Anthropolgie will not sign a lease without a definite date of completion,” Worthington said. And construction can’t begin until the project gets sewer approval.
Bucks County has imposed a moratorium on building permits because the sewer line is hydraulically overloaded, according to officials.
Board of Supervisors Chairman Mike Gallagher said at the August meeting of the Newtown Joint Municipal Authority Board that the lack of sewage capacity is causing local development projects to halt.
Worthington said he is working with local officials to solve the issue and hopes to secure a sewer permit in the near future.
When complete, The Promenade will feature 20,000 square feet of retail space in two buildings.
There will be five retail tenants, as well as 26 one-bedroom apartment rental units. No full-service restaurants with liquor licenses will be permitted in the development.


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Today, Grupo Bimbo, a proudly Mexican company, launched a new production line of their iconic product Bubulubu in their confectioner plant Ricolino, located in Toluca, State of Mexico, which represented an investment of 210 million pesos, and affirmed its commitment to continue investing in the state.
During the launching of the new line, different authorities from the State of Mexico attended, among them Enrique Jacob Rocha, Secretary of Economic Development of the State of Mexico Government, and Juan Rodolfo Sanchez, Mayor of Toluca; and on behalf of the company attended Fernando Lerdo de Tejada, Ricolino CEO, and Javier Garcia Reza, the company’s Labor Relations Director. On behalf of Ricolino collaborators, José Luis Carazo, General Secretary of the National Union of General Service and Commerce and of the Mexican Republic’s Food Industry, was present.
Ricolino Toluca, inaugurated in 1990, currently manufactures products like the traditional Paleta Payaso, Chutazo, Chocoreta, Luneta, Kranky, Duvalín, and now Bubulubu, among others. This confectioner plant supplies the Mexican market and exports to countries like the US, Ecuador and Peru.
Ricolino Toluca has recognitions like the Clean Industry and certifications like SQF 8 Edition manufacturing code and quality code, and Gluten Free for its Kicao product.
“We are very glad to launch today a new Bubulubu line in Ricolino Toluca, which we are sure will bolster the relevance of this plant for our operation and for the development of the State of Mexico”, said Fernando Lerdo de Tejada, Ricolino
“In Grupo Bimbo we are turning 75 years old, and we are proud to celebrate it by starting up this line and affirming our commitment to continue investing in the state”, Lerdo de Tejada added, and he thanked the presence of the Secretary of Economic Development of the State of Mexico Government and Toluca’s Mayor, as well as a union representative.
Secretary of Economic Development Enrique Jacob congratulated on behalf of Governor Del Mazo, for the launch of this new production line, and thanked the trust the company has in the State of Mexico and in the talent of its workers to keep growing.
“This launch is a vote of confidence in favor of the economic recovery of the State of Mexico, which is even more relevant because of the current health contingency; because in spite of the difficult circumstances we are facing, the trust to invest in the State of Mexico has remained”.
Finally, Jacob Rocha insisted on the fact that next year will be full of challenges, but also of great opportunities. Proof of this is Ricolino’s announcement of this new production line, for which he repeated his congratulations on behalf of the State Government.
Juan Rodolfo Sanchez, Mayor of Toluca, said “Grupo Bimbo is a group of companies that follow a well-defined line of thought, and at the same time it is an exemplary business effort for Mexico. The celebration of these facilities should be the celebration of a nation because Bimbo is a company that fills us with pride. It brings me joy to be in these facilities, which have become key in this community’s life in Toluca. The joy is double because of the reason that brings us here, which is to witness the inauguration of a new product line. It is an additional effort from Ricolino, it’s an opportunity to grow the community through the jobs it generates, soy today is a day to celebrate everyone who works in this plant and for people from Toluca in general”.
During his participation, Jose Luis Carazo, General Secretary of the National Union of General Service and Commerce and of the Mexican Republic’s Food Industry, commented “Today I am very grateful for many reasons, the country’s workers really need this kind of news like the launching of the expansion of this plant, the great joy I feel is that our Mexican businessmen continue to believe in Mexico, continue to invest in Mexico, continue generating economy for the country, joy for consumers and work for collaborators. This makes us proud, it fills us with satisfaction”.
The presence of Grupo Bimbo in the State of Mexico currently stands out for having nearly 14,000 direct collaborators and generating almost 16,000 indirect jobs, in 9 production centers. As part of its commitment to sustainability, and as a compliment to the renewable energy it receives from the windfarm Piedra Larga in Oaxaca, the facilities in the State of Mexico add more than 11,000 solar panels installed in its roof.
In its Moldex plant in Lerma, electric delivery vehicles are manufactured, which are designed by young engineers from the state. Grupo Bimbo currently has over 550 vehicles of this type, sustainably delivering its products in the most important cities in the country.
Regarding the commitment to the community, different work centers of Grupo Bimbo in the State of Mexico have made nearly 50 projects from its Good Neighbor program, along with the citizens and authorities, initiatives that look to improve the quality of life of the people who live or work around the company’s facilities. Among the most important projects are the rehabilitation of public sports and recreational areas, the installation of open-air gyms, the improvement of school infrastructures and the replacement of lighting, among others.


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On Thursday, CEO Mark Zuckerberg announced that the company had rechristened itself Meta in reference to the "metaverse," or a whole new virtual universe composed of virtual and augmented reality technology and more. So basically, a huge new virtual platform controlled by the Zuck, even if that's, arguably, already our reality. Talk about fitting given Meta's dual allusion to the self-referential concept.
"Right now, our brand is so tightly linked to one product that it can't possibly represent everything that we're doing today, let alone in the future," Zuckerberg said in a statement. "Over time, I hope we are seen as a metaverse company, and I want to anchor our work and our identity on what we're building towards."
The patriotic, sunscreen-loving surfer then went on to explain the company would now be "metaverse-first, not Facebook-first," meaning that you no longer need a Facebook to access their new "family of apps" and "future platforms."
Zuckerberg added, "The metaverse encompasses both the social experiences and future technology. As we broaden our vision, it's time for us to adopt a new brand."
In order to usher in this new era of technocracy, Meta has created an official metaverse-focused product team that is planning to hire 10,000 new employees in Europe over the next five years. However, it has yet to be seen how government officials and regulators will react to the news, especially since they've already made their issues with Facebook's past handling of abuse, its shady algorithm and internet hegemony pretty clear.
In the meantime though, read more about Meta here.
Photo via Getty / Justin Sullivan
- Facebook Might Be Changing Names - PAPER ›
- Is the Pandemic Bringing Young People Back to Facebook? - PAPER ›
- Mark Zuckerberg Memes Have Taken Over the Internet - PAPER ›
- Twitter Reacts to Walmart Metaverse Proof of Concept - PAPER ›
- Are Meta and Balenciaga Teaming Up for Avatar Fashion? ›
- Instagram Is Sparing Us From the TikTok-like Reels Feature ›
- Meta to Roll Out Paid Verification on Facebook and Instagram ›


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Warwick Conferences is thrilled after its latest marketing campaign has been acknowledged for its originality and creativity by industry experts at the annual Conference Centres of Excellence (CCE) awards.
Held on Wednesday 18 July and attended by over 100 venue representatives and members of the industry , the awards exist to recognise excellence from within the CCE membership as well as non-members in categories including ‘best supplier’, ‘best booking agency’, and ‘non-CCE venue most admired by members’.
Warwick Conferences beat off tough competition on the night to take home the coveted award for ‘Best Innovation’ for its quirky and innovative ‘Compare the Conference’ campaign.
The campaign, which comprises a spoof price comparison website called comparetheconference.com and a conference pear named Compear D’conference, is designed to show event bookers how a complete package at Warwick Conferences stacks up against the costs of other conference venues.
Tony Rogers, who was on the judging panel, commented: “Warwick Conferences’ entry was original and distinctive and provided a fun and humorous element to what can be a rather tedious task.
“The campaign’s approach has also paid dividends in terms of meeting the business targets set for it.
“We had some excellent entries in this category so Warwick Conferences should be delighted to have been named the winner.”
Rachael Bartlett, head of sales and marketing at Warwick Conferences added: “We’re really pleased with our comparetheconference.com campaign and believe it is a fun way of highlighting the serious issue of hidden costs within the meetings and conference industry.
“It’s great that people understand the message behind the campaign and we hope that it makes event bookers stop and think when comparing venue prices.”
CCE, a marketing consortium for top quality dedicated conference and training centres, has 36 venue members who have to meet stringent criteria in terms of facilities, accommodation and customer care before joining.
You can view the winning marketing campaign here.
Photo: Hayley Malone, Marketing Manager of Warwick Conferences with Chief Executive of CCE, Anthony Lishman


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“Our blood is OK, but the trucks don’t like it,” potato shipper Paul Dolan, manager of Grand Forks, ND-based Associated Potato Growers Inc., said of operating in the North Dakota cold.
Dolan said the shipping operations were accustomed to moving seamlessly ahead in the conditions. It is transportation options — by truck and rail — that have been bogged down for the Red River Valley potato business since Thanksgiving.
About 15 to 20 percent of the volume shipped by Associated Potato Growers has moved by rail this winter. The hitch has been checking rail cars to assure proper heating capacity.
Often upon delivery to the shippers, rail car heaters don’t work and service calls can’t adequately resolve the situation. As a result about one-third of the cars arriving in Grand Forks must be rejected by the shipper, Dolan said. For the rail cars capable of avoiding freezing the fresh potatoes, Associated is typically shipping to Florida and Pennsylvania via Chicago.
On the road, truck trailers carry more reliable heaters but truck availability has also been reduced since Thanksgiving.
As a result, as far as shipping volume is concerned, “December was less than what we expected. But we will go on from there,” he said. The transportation shortage set Associated Potato back a week from its plan, but the volume will be made up as the firm plans to ship from storage until June. Other Red River Valley shippers will end their season “much earlier” than that, he added.
Dolan expected North Dakota weather to warm somewhat, which would bring more normal transportation service.
In December, B-sized Red River Valley potatoes moved well, but on Jan. 6 Dolan said, “Everyone has more than enough B’s. Everyone is backed up on B’s.” With relatively warmer weather in early January, “we will have a good January for shipping.”
Red River Valley A-sized red potato prices have been steadily “decent” at $15.50 — or sometimes less — per hundredweight. Dolan expects that price will hold. “One or two small shippers are finished. That helps hold the market.”
Larsen Farms, which is based in Hamer, ID, has production in the Texas panhandle and is a renewed player in the red potato storage business. “There has been production in the panhandle before and they have started again,” he said. “That impacts the red deal.” He added that red potato production has also increased in Idaho, which has increased overall supplies.
Ted Kreis, marketing director for the Northern Plains Potato Growers Association, indicated red potato movement “has been good. I’d say it’s been average to above average. There was a little lull after Christmas but we expect demand to pick up. Most experts expect prices to creep up. Supplies are not overly abundant,” thus the cause for optimism.
Kreis noted that weather conditions in the early fall forced a late Red River Valley harvest, which created a slow marketing start. “In November it picked up momentum. The quality is better than last year. There seems to be a growing preference in consumer demand for red potatoes. Ninety percent of what we grow (for the fresh market) is red potatoes.”
Yellow potato production is also gaining momentum in the Red River Valley, he said.


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Digital Air Strike named one of the 5 Best AI Solution Providers in 2020 by CIO Bulletin
October Edition 2020: CIO Bulletin
Streamlining the online process so consumers can buy and receive your products easier and businesses can reach, engage and earn new and existing customers is what virtual retailing is all about.
Customers have been moving to more online shopping for a while, and the COVID-19 pandemic has only accelerated that need. Businesses that already have a robust online offering are ahead of the curve, while companies that have not embraced this technology have either been left behind or realized they needed to upgrade fast to keep up with the times.
Digital Air Strike has been in the consumer engagement technology space for over 10 years now after its co-founder and CEO Alexi Venneri first saw the need for auto dealerships to help consumers have a better experience online researching and engaging with dealerships. They truly revolutionized the way social media and review sites helped both consumers and dealerships in the vehicle purchase process, and in turn helped build customer loyalty.
Since then, Digital Air Strike has developed new technology for consumers to engage businesses better, in multiple verticals. This includes credit prequalification and leveraging new video technology to allow for virtual retailing, as well as artificial intelligence chatbot messaging assistance and many automation tools, to reduce friction in the entire consumer journey. The goal is to let technology do the heavy lifting and allow the team at a business do what it does best – build rapport and explain your products and services, but just in a more efficient manner.
Businesses Leverage Tech During the Pandemic
At the start of the pandemic, Digital Air Strike was quick to pivot and launch many new features to allow more steps in the buying process occur virtually. In March, they expanded their award-winning consumer engagement technology platform to now include a more extensive Virtual Retailing Program, which includes new ways to use custom video technology, AI, texting and sales process automation.
“It’s an honor to be named among the 5 Best AI Solution Providers for 2020,” said Alexi Venneri, co-founder and CEO of Digital Air Strike. “We’re seeing firsthand how our AI technology is helping businesses save time and money while also providing better, 24/7 customer service.”


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Logistics marketplace Vahak secures $14 Mn to empower SMEs, single truck owners
Bengaluru-based logistics marketplace Vahak has raised $14 Mn in a Series A round of funding led by Nexus Venture Partners. Foundamental, iSeed Ventures, Leo Capital, RTP Global and Titan Capital also participated in the funding round. Vahak has raised a total of $20.3 Mn since its first round in March 2020. Vahak is an open marketplace for logistics that connects shippers and transport SMEs to provide transportation services.


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After getting rid of Google Maps on iOS 6, Apple’s own attempt at maps was so terrible it inspired a mocking Tumblr and even an apology from CEO Tim Cook. Now, it seems, the police are getting involved.
According to a release published to the Victoria Police Department website, several people have gotten stranded in the middle of a national park without food or water after attempting to follow Apple Maps’ directions to Mildura, a regional city in Australia. The city is actually located almost 45 miles away from where Apple Maps lists it. Read More
Tim Cook’s not sure where you all got the idea he’s robotic. [Bloomberg Businessweek]
He also confirmed Apple is bringing some manufacturing back to the U.S. No guarantees how much, though. [Bloomberg News]
Get psyched for Skype voice messages. [The Verge]
Hey Best Buy (and all other mega corporations): Maybe don’t assume you can just rip off a startup’s proprietary technology? [Redeye VC]
Michael Arrington is very peeved at Instagram pulling Twitter integration. So peeved he felt it necessary to slap on a Winnie the Pooh hat and write a rant. [TechCrunch]
This is what the earth looks like at night. [NASA]
Tim Cook wants you to understand that the iPad mini is, like, totally not just a seven-inch iPad. [The Verge]
You can now legally jailbreak your smartphone. Good luck getting them to honor the warranty once you do, though. [Ars Technica]
“We don’t want to appear as a country that is anti-Google.” — France’s minister of technology. She might have an uphill battle there, as other officials have spoken out in favor of charging Google for linking to French news sites. [Quartz]
Did you make the cut for Business Insider’s Silicon Alley 100, a muy scientific slideshow accounting of the coolest people in New York tech? [Business Insider]
A devoted player of the MMORGP Eve Online was inspired by his ripped avatar to get off his butt and start going to the gym. [CNN]
Earlier today, Apple CEO Tim Cook took the highly unusual step of issuing a public apology for the fustercluck that is the company’s new map offering. That’s probably little consolation to anyone who upgraded to iOS 6 and has spent the days since utterly unable to get from point A to point B and/or lost somewhere in the wilderness, but hey, it’s a start.
Twitter naturally greeted his heartfelt mea culpa with a chorus of LOLs.
This Daily Show executive producer needs a hand, thanks: Read More
Oh, to be a fly on the wall in the meeting when Tim Cook decided a product he’d overseen was terrible enough to warrant a public apology. The (faux?) humility, the palpable disappointment.
In a letter published to the Apple website and addressed to customers, Mr. Cook apologized for the frustration that the widely-panned Apple maps has caused.
However, tech journalists everywhere are still waiting for an apology from Mr. Cook for having such a boring story dominate the news cycle, as well as giving Google a reason to act ever more smug. Read More
Here we are, gathered once again for what’s always expected to be an ecstatic cross between Christmas and the Rapture: Apple’s latest media event and the unveiling of the latest iPhone. (Also, the iPhone’s less exciting little sister, the iPod, got a bigger screen and an FM tuner, and the Touch now comes in several colors.)
Tim Cook rattled off facts like the iPad accounts for 91 percent of tablet-drive web traffic and that there are now 700,000 apps available for download in the store. He apparently restrained himself from adding, “Ya burnt, Bezos!” though no doubt it required substantial self-control. Read More
Sergey Brin lets California lieutenant governor Gavin Newsom try on Google Glasses. [The Verge]
There’s a new digital divide in town. [New York Times]
A roundup of Tim Cook’s chat at the AllThingsD conference. [Wall Street Journal]
Kim Dotcom is winning legal battles left and right. [Bloomberg]
No one on Facebook actually cared about the Facebook IPO. [Buzzfeed]
Apple scheduled a surprise conference call for later this morning to discuss its $98 billion pile of reserve cash; specifically, whether shareholders will get any of it.
Steve Jobs liked the security of having the money in the bank. It gave Apple the freedom to make a major acquisition without having to borrow and guarded against catastrophe. But Jobs’s successor Tim Cook has said Apple has more cash than it needs to run on a daily basis and told shareholders that he is “not religious” about keeping a large amount in savings.
On today’s conference call, Apple will announce the outcome of board discussions. The announcement of the announcement instantly provoked speculation. Would Apple pay dividends? Make an acquisition? Paper the walls of 1 Infinite Loop with Benjamins? Read More
Was it the segment on The Daily Show, one of the iTunes store’s bestselling TV shows? Or the eye-opening investigative report from the New York Times, prominently featured in every other Apple commercial? Or that episode of one of the most downloaded podcasts/radio shows in the country, This American Life? Or—after weeks of silence—Apple’s most famous fanboy, David Pogue, finally weighing in?
Whatever it was, Apple is now blessing and participating in the Fair Labor Association’s “unprecedented” inspection of Foxconn, the Chinese manufacturer whose negligence towards human rights has been opened to the world in recent months. Read More


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eWEEK at 30: WiFi Fills Insatiable Demand for Fast Wireless Web Links
January 27, 2014
eWEEK 30: When PC Week started publishing 30 years ago, it was a wired world and wireless connectivity was in its early stages. But by 2001, that dream started to become a reality, and now in 2014 it's the norm.
Even while 802.11b's merits and its rapid adoption were being reported by eWEEK, efforts were already under way to make WiFi faster. In 2002, the early promise of 802.11a was made apparent, with speeds up to five times faster than 802.11b. For most consumers and enterprises though, it was 802.11g that was the preferred successor to 802.11b. Both 802.11a and 802.11g offered the promise of up to 54M bps with 802.11a working in the 5GHz spectrum and 802.11g working in the 2.4GHz spectrum.
"In 2002, security continued to be the most talked about issue on the business side, while the Achilles heel of the home market remained multimedia support," eWEEK reported. "In the year ahead, the continued growth and evolution of dual-mode 2.4/5GHz capable equipment, Intel's ability to push out its Centrino mobile technology, the shift toward 802.11g as the preferred 2.4GHz WLAN technology, and the advent of new enterprise infrastructure technology, will all shape the development of this market."
The next big jump for WiFi after 802.11a and 802.11g was the 802.11n standard, though its adoption and rollout were not entirely seamless. In 2005, eWEEK reported, that "the forthcoming 802.11n wireless standard and the rash of new products that manufacturers say use 802.11n technology are sowing confusion among many IT professionals."
In a rush to instantly fill consumer and enterprise demand for high-speed wireless connectivity, wireless product vendors released all manner of pre-standard implementations. Standards efforts were also fractured with multiple groups pursuing different approaches.
By August 2005, the rival proposals for 802.11n joined together. In January 2006, eWEEK reported on the release of the first draft of the 802.11n standard. The initial goal of 802.11n was to provide wireless connectivity of 100M bps or more; the final amendment to 802.11n published in 2009 raised the speed to 600M bps.
Today, Cisco's Chris Spain, vice president of product management for enterprise networking, sees 802.11n as being the most widely deployed and used WiFi specification.
"Each subsequent generation of WiFi technology has been adopted faster than its predecessor— largely due to the increase in mobile device use," Spain said. "Additionally, the tasks previously performed over a wired connection can now be performed over wireless and on mobile devices."
The availability of WiFi, in turn, has fueled the capabilities and growth in the use of mobile devices. Spain noted that the proliferation of mobile devices has been one of the main drivers contributing to WiFi growth.
"Another key growth factor is the productivity gained from being able to work or access wireless from anywhere, any time," Spain said.
One of the key organizations that helped push WiFi adoption forward since 1999 has been the Wi-Fi Alliance.