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Axis Bank may be highest bidder for Citi's India retail business
NEW DELHI, Dec 20: Private lender Axis Bank may be the highest bidder for the retail business of Citibank India, according to reports.
Axis is likely to strike an all-cash deal for Citi's India retail assets, which could be worth $1.5 billion with up to $300-400 million milestone payments which depends on performance in the future, the news channel learnt from persons familiar with the development.
Citi, while reacting to the CNBC TV18 report which suggests that Axis may be leading the acquisition race, said: "We continue to move forward with our process with respect to our India consumer business in accordance with our broader strategic refresh."
Axis was yet to issue a statement by the time this report was published.
The news comes amid reports which claimed that Kotak Mahindra Bank and Indusland Bank, apart from Axis Bank, were in the race to acquire Citi's India retail business which involves over 2.5 million customers and more than 1.2 million bank accounts.
On December 7, a report in The Economic Times claimed that Kotak Mahindra Bank and Axis Bank have emerged as the top contenders to clinch the deal. The report, citing a source, said Kotak was more "aggressive" between the two bidders.
The deal will likely be all cash of less than $2 billion, the source had told the publication.
Notably, Citibank runs a profitable franchise in India and had a loan book of Rs 68,800 crores as on March, 2021, of which Rs 28,000 crore was retail loans. These mainly included cards, mortgages and personal mortgages, said a report released by investment group CLSA on September 8.
Citibank is the sixth largest card issuer with market share of 4.2 per cent in cards issued, the report added. As per CLSA's estimates, Citibank could have a credit card book of approximately Rs 9,000 crore.
On 16 April, Citi said it will exit consumer/retail operations in 13 countries across Asia and Europe. The 13 nations include Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam.
Citi’s consumer business in India comprises credit cards, retail banking, home loans and wealth management. The bank has 35 branches in the country and employs 4,000 people in the consumer banking business. It had a 0.6 percent market share in advances and 1.1 percent in deposits, along with 2.58 million credit cards outstanding, as of October 2021.
Sensex Falls 1,190 Points, Closes At 4-Month Low On Omicron Fears
NEW DELHI, Dec 20: The Indian equity benchmarks closed at their lowest in four months as spread of Omicron variant of Coronavirus rattled investors' sentiment.
The Sensex fell as much as 1,879 points, its biggest single day fall since February 26 and Nifty tumbled below its important psychological level of 16,450 to hit an intraday low of 16,410.
The Sensex fell 1,190 points or 2.09 per cent to close at 55,822 and Nifty 50 index dropped 372 points or 2.2 per cent to settle at 16,614.
Markets fell across the globe as surging Omicron Covid-19 cases triggered tighter curbs in Europe and threatened to swamp the global economy into the New Year. The spread of Omicron saw the Netherlands go into lockdown on Sunday and put pressure on others to follow, though the United States seemed set to remain open.
Back home, selling pressure was visible across the board as all the 15 sector gauges compiled by the National Stock Exchange ended lower led by the Nifty Realty index's 5 per cent fall. Nifty PSU Bank, Metal, Private Bank, Media, Financial Services, Auto and Bank indices also fell between 2.5-4.5 per cent.
Broader markets also succumbed to selling pressure as Nifty Midcap 100 index dropped 3.7 per cent and Nifty Smallcap 100 index fell 4 per cent.
Among the individual shares, Shriram Properties made a weak stock market debut, the stock opened for trading at ₹ 94, marking a discount of 20 per cent from issue price of ₹ 118.
Forty seven out of 50 shares in the Nifty 50 basket ended lower led by Bharat Petroleum Corp's 6.5 per cent decline. Tata Motors, Tata Steel, IndusInd Bank, Bajaj Finance, Coal India, Indian Oil, State Bank of India, ONGC, Hindalco, Shree Cement, Adani Ports and HDFC Life also fell 3.35-5.2 per cent.
On the flipside, Cipla, Hindustan Unilever and Dr Reddy's Labs were among the notable gainers in the Nifty 50 index.
The overall market breadth was extremely negative as 2,698 shares ended lower while 747 ended higher on the BSE.
Amazon Fined 200 Crores, Deal To Buy Retailer Future Is Suspended
NEW DELHI, Dec 17: The country's antitrust agency on Friday suspended Amazon.com's 2019 deal with Future Group, potentially denting the US company's attempts to block the sale of Future's retail assets to an Indian peer.
The regulator ruled that the US e-commerce group had suppressed information while seeking regulatory approval on an investment into Indian retailer Future Group two years ago.
The ruling by the Competition Commission of India (CCI) could have far-reaching consequences for Amazon's legal battles with now estranged partner Future.
Amazon has for months successfully used the terms of its toehold $200 million investment in Future in 2019 to block the Indian retailer's attempt to sell retail assets to Reliance Industries for $3.4 billion.
The regulator's 57-page order said it considers "it necessary to examine the combination (deal) afresh," adding its approval from 2019 "shall remain in abeyance" until then.
The CCI's order said Amazon had "suppressed the actual scope" of the deal and had made "false and incorrect statements" while seeking approvals. The CCI order imposed a penalty of around ₹ 200 crore on the US company.
"The approval is suspended. This is absolutely unprecedented," said Shweta Dubey, a partner at Indian law firm SD Partners, who was formerly a CCI official.
"The order seems to have found new power for CCI to keep the combination approval in abeyance," she added. Amazon will be given time to submit information again to seek approvals, the CCI added.
Future and Reliance did not respond to a request for comment. Amazon said it is reviewing the order "and will decide on next steps in due course."
The 2019 Future deal approval being put on hold could dent Amazon's legal position and retail ambitions, while making it easier for Reliance - the country's largest retailer - to acquire number two player Future, people familiar with the dispute said.
Amazon has argued that terms agreed in its 2019 deal to pay $200 million for a 49 per cent stake in Future's gift voucher unit prevent parent, Future Group, from selling its Future Retail Ltd business to certain rivals, including Reliance.
But after Future complained to the CCI that Amazon had concealed facts, the CCI in June sought explanation from Amazon saying it hid factual aspects of the transaction by not revealing its strategic interest in Future Retail while seeking approvals.
Amazon, in responses to CCI, said it never concealed material information, warning the watchdog that the deal's revocation would send a negative signal to foreign investors.
The Future-Reliance deal has been on hold for months as Amazon got favourable interim rulings from a Singapore arbitrator and courts. Future denies any wrongdoing.
Cabinet clears Rs 76,000 crore PLI scheme for semiconductors
NEW DELHI, Dec 15: The Union Cabinet on December 15 cleared the production-linked incentive scheme (PLI) for semiconductors with the ambition of making the country an electronics hub as the shortage of microchips hurts industrial production.
According to a report, the government proposes to provide incentives worth Rs 76,000 crore for semiconductor production over the next six years.
"The scheme will include provision for 25 percent incentives on capital expenditure for establishing unit of Compound Semiconductor Wafer Fabrication (Fab), assembly, testing, and packaging facility," the report added.
The policy comes at a time when the world is witnessing a severe crunch of semiconductors, a key component in all types of electronic devices ranging from smartphones to automobiles. The supply has been disrupted as a result of the COVID-19 pandemic, which forced production centres to close intermittently.
In order to reduce India's dependence on China, the government in March 2020 announced a scheme with an aim to give companies incentives on incremental sales from products manufactured in domestic units.
On November 11, 2020, the Union Cabinet had approved the Production-Linked Incentive (PLI) scheme for 10 sectors. The list included pharmaceuticals, automobiles and auto components, telecom and networking products, advanced chemistry cell battery, textile, food products, solar modules, white goods, and specialty steel.
The PLI scheme, according to the government, "will make Indian manufacturers globally competitive, attract investment in the areas of core competency and cutting-edge technology, ensure efficiencies, create economies of scale, enhance exports, and make India an integral part of the global supply chain."
Under Imran Khan Government, Pakistani Rupee Depreciated By 30.5%: Report
ISLAMABAD, Dec 7: The Pakistani rupee's value against the US dollar has fallen by 30.5 per cent during the Imran Khan government's tenure, reported local media.
This makes it one of the highest devaluations of the currency in the country's history.
The rupee witnessed massive depreciation from ₹ 123 against the US dollar in August 2018 to ₹ 177 against the US dollar in December 2021, a decline of 30.5 per cent over the last 40 months, reported The News International.
The Pakistani publication further said that the only other higher devaluation occurred when Dhaka fell and Pakistan's currency was devalued by 58 per cent from ₹ 4.60 to ₹ 11.10 against the US dollar in 1971-72.
This recent devaluation of the currency was dictated by the IMF through prior actions, said independent economists stressing that it has nothing to do with macroeconomic fundamentals.
There was a complete breakdown of economic policymaking as Pakistan's fiscal policy had become subservient to monetary and exchange rate policies said former economic adviser Dr Ashfaque Hassan Khan.
Emphasising that the monetary tightening and exchange rate depreciation resulted in higher inflation, public debt and debt servicing, he stressed that the empirical evidence showed that the one per cent monetary tightening hiked the inflationary pressure by 1.3 per cent in the case of Pakistan.
Pakistani currency has experienced massive depreciation against the US dollar compared to other regional currencies like the Indian Rupee and Bangladeshi Taka.
Some studies conducted by economists suggest that inflation stands at 11.5 per cent on a monthly basis, nearly two per cent comes through depreciation of the exchange rate, according to The News International.
India's Trade Deficit Stood At Record $23.27 Billion In November
NEW DELHI, Dec 1: India clocked a record merchandise trade deficit of $23.27 billion in November 2021 as crude oil and gold imports saw a jump, compared to $10.19 billion in November 2020, official data said.
As per preliminary data released by the government on Wednesday, the trade deficit widened to an all-time high of $ 23.27 billion as gold imports grew by about 8 per cent to $4.22 billion.
The gap between imports and exports totalled $10.19 billion during November 2020. The previous record for the trade gap was $20.2 billion in October 2012.
The country's merchandise exports rose 26.49 per cent on year-on-year basis to $29.88 billion in November 2021 on better performance by key sectors like engineering, petroleum, chemicals and marine products, the data showed. The exports had stood at $23.62 billion in November 2020.
On the other hand, imports in November 2021 stood at $53.15 billion, an increase of 57.18 per cent over $33.81 billion recorded in November 2020.
"India's merchandise exports in April-November 2021 was $262.46 billion, an increase of 50.71 per cent over $174.15 billion in April-November 2020 and an increase of 24.29 per cent over $211.17 billion in April-November 2019,” the commerce ministry said.
Imports in April-November 2021 grew by 75.39 per cent to $384.44 billion, while trade deficit stood at $121.98 billion during the eight-month period of the current financial year.
LIC invites its policyholders to become shareholders by updating PAN and demat details
NEW DELHI, Dec 2: Indians have been used to the Life Insurance Corporation of India’s (LIC) advertisements in newspapers and on television sets exhorting them to buy policies.
Now, the life insurance behemoth has placed an advertisement of a completely different kind. LIC on Wednesday informed its policyholders in India about some of the pre-requisites for investing in its proposed initial public offer (IPO) – updating their PAN details and opening demat accounts
The finance ministry has indicated that up to 10 percent of LIC’s IPO issue size could be reserved for its policyholders. The government has permitted LIC to designate policyholders as one of the reserved categories in any LIC public offering in the future, as per an amendment made this year to the LIC Act, 1956.
“In order to participate in any such public offering, policyholders will need to ensure that their PAN details are updated in the Corporation’s records,” the advertisement said.
In fact, the life insurance major has been running campaigns urging policyholders to update their PAN in its records. “This is very important from a KYC perspective as well as your ability to participate in the proposed public offering by the LIC…this will be used to help you participate in the proposed offering,” the ad said.
It also outlined the process for updating PAN details online through LIC India‘s portal. You will have to enter your PAN, policy number, date of birth and email ID. If you are not comfortable with the online mode, you can approach your agent to complete the process.
“LIC wants to ensure that its policyholders are KYC-compliant, and therefore eligible to apply for IPO. In case there is any reservation for policyholders, then they should not miss it. However, the risks involved in investments should have been explained in detail in the ad,” says Pankaj Mathpal, Founder, Optima Money Managers.
If you do not have a demat account, you can consider opening one if you are keen to invest in LIC’s IPO or capital markets in general. You need to this invest in any IPO or listed stock.
“Policyholders should know the risk of investing in shares and avoid it if it doesn't suit the objective of their investment. Demat account is not very expensive now, it still doesn't make sense if they want to invest only in LIC’s IPO,” says Pankaj Mathpal, Founder, Optima Money Managers. If you are an extremely conservative investor who has never invested in equity markets, you need to tread carefully.
“LIC has a huge customer base and a great reputation. People would invest in anything LIC, so it’s important that they understand the risks that come with equity. I would recommend investment in LIC IPO in future provided the price is right, time horizon is long-term and they have a diversified portfolio,” says Shweta Jain, Founder, Investography.
GST collection hits second highest level of Rs 1.3 lakh crore in November
NEW DELHI, Dec 1: The gross GST revenue scaled its second highest peak of Rs 131,526 crore in November. In April, the collection had hit its record high of Rs 139,708 crore.
The GST collection crossed Rs. 1.30 lakh crore for the second straight month, the finance ministry data showed.
Out of the Rs 131,526-crore gross GST revenue collected in November, CGST was Rs 23,978 crore, SGST was Rs 31,127 crore, and IGST was Rs 66,815 crore.
Revenues for November 2021 are 25 percent higher than the GST revenues mopped up a year ago and 27 percent over 2019-20.
During the month, revenues from import of goods was 43 percent higher and the revenues from domestic transaction were 20 percent higher than the revenues from these sources during the same month last year.
"The GST revenues for November 2021 have been the second highest ever since introduction of GST, second only to that in April 2021, which related to year-end revenues and higher than last month’s collection, which also included the impact of returns required to be filed quarterly. This is very much in line with the trend in economic recovery," Ministry of Finance said in a press statement.
The recent trend of high GST revenues has been a result of various policy and administrative measures that have been taken in the past to improve compliance, it added.
The government has settled Rs 27,273 crore to CGST and Rs 22,655 crore to SGST from IGST as regular settlement. The total revenue of centre and the States after regular settlements in the month of November 2021 is Rs 51,251 crore for CGST and Rs 53,782 crore for the SGST.
Centre has also released ₹ 17,000 crore to States/UTs towards GST compensation on 3rd November.
The finance ministry said a large number of initiatives have been undertaken in the past one year, which include enhancement of system capacity, nudging non-filers after last date of filing of returns, auto-population of returns, blocking of e-way bills and passing of input tax credit for non-filers which led to consistent improvement in the filing of returns over the last few months.


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The gaming industry has seen a lot of cyber attacks in the past 17 months as it has become one of the major targets bearing 12 billion credential stuffing attacks as stated by the Cloud delivery network provider Akamai Technologies. Akamai Technologies have recently published a report under the name 2019 State of the Internet / Security Web Attacks and Gaming Abuse that states that the gaming community is one of the most lucrative targets for the cyber criminals who are looking to make a quick profit. Over a period of 17 months that is November 2017 to March 2019, there were 55 billion cases of the credential cyber attacks all across the industries.
The report has also revealed that the SQLi or the SQL Injection attacks at present represents only two thirds (65.1%) of all the web application cyber attacks having the Local File Inclusion (LFI) Attacks that account for 24.7%. The data of the report shows that the SQLi cyber attacks have continued to grow at an alarming rate as a cyber attack vector with a surge in the activity during the holiday shopping season of 2018 and had continued the elevated trend since that time. In the first quarter of 2017, the SQLi attacks have accounted for 44% of all application layer attacks.
In one example of these cyber attacks, the cyber criminals target the popular games in search for the valid accounts and unique skins that are used to change the appearance of an item in a video game. Once the account of a player is successfully hacked, it can then be traded and sold. The hackers also appear to place more value on the compromised accounts that are connected to a valid credit card or other financial resources. As soon as the accounts are compromised, the cyber criminals can purchase additional items like the currency used within the game and then trade or sell the hijacked account at a mark up.
Disclaimer: Darkweblink.com does not promote or endorse claims that have been made by any parties in this article. The information provided here is for the general purpose only and unintended to promote or support purchasing and/or selling of any products and services or serve as a recommendation in the involvement of doing so. Neither Darkweblink.com nor any member is responsible directly or indirectly for any loss or damage caused or alleged to be caused by or in relation with the reliance on or usage of any content, goods or services mentioned in this article.

domain: news


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Nintendo’s recent release of Mario Kart 8 breathed new life into the company’s struggling Wii U console. In fact, we called it a killer Wii U game when we reviewed Mario Kart 8 back in May, and we said it was just what the Wii U needed. The newest edition in Nintendo’s popular racing series was apparently so good that it inspired a group of 12 people in Japan to reenact Mario Kart on the streets of Tokyo.
As seen in a video posted by The Telegraph, the team of a dozen racers dressed up as Mario Kart characters, armed themselves with weapons from the game (though Princess Peach happens to be eating her weapon in the video), and hopped on their go-karts for a race. Sadly, there is no footage of the heated battle, but hopefully no one hurt themselves or anyone else.
The full video is embedded below.


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Facebook is responding to the growing popularity of mobile messaging apps by giving its own messaging app new capabilities. The company will let developers make their apps work within Facebook Messenger, and is also making it possible for shoppers to chat with businesses using the app.
During a presentation at the social network’s F8 developer conference in San Francisco on Wednesday, Facebook founder and CEO Mark Zuckerberg said Facebook wants to make it easier for Messenger’s 600 million users to share more content—animated GIFs, videos, or animated greeting cards, for example—through Messenger itself, rather than by leaving the chat app. To do that, Facebook is rolling out Messenger Platform, which developers can use to make Messenger apps for sharing various kinds of media.
You can already share photos, videos, stickers, and maps of your location over Messenger, as well as make voice calls through the app and, as of recently, send money to another user. But allowing outside developers to integrate with the app could give Messenger an advantage over newer chat apps like WeChat and Snapchat.
In a demo, Facebook’s Messenger head, David Marcus, pointed out a three-dot icon near the bottom of the Messenger screen on a smartphone; pressing it yielded a list of apps already installed for use with Messenger (in this case, a personalized emoji-maker called Bitmoji and a text customizer and animator called Legend). Users can create an animated expression like “I’m so excited!” using Legend, for example, and send it through Messenger to a friend who will be able to see it even if they don’t have the Legend app. Marcus also showed how other apps could be installed from a Messenger app store.
Messenger Platform became available Wednesday, and Marcus said that more than 40 apps are participating.
Facebook also unveiled a plan to let businesses chat with customers in a new way. The hope is that when you’re buying something online, a retailer will let you choose to be contacted via Messenger about your order, and if you assent, you can see an order confirmation, shipping details, and other information in the app. You’ll even be able to do things like change your order or, as a demo with online clothing retailer Everlane indicated, buy additional items via chat.
Everlane and daily-deal clothing site Zulily will be among the first companies using the service in the next few weeks, and additional merchants will be added in the coming months.
This new data poisoning tool lets artists fight back against generative AI
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The CEO of Enve says accomplishments in Utah are threatened by recent controversies.
PBMA president James Stanfill says the Internet challenges retail mechanics to keep it pro.
There’s no hidden agenda here. Senators Mike Lee and Orrin Hatch of Utah, the bill’s author and original cosponsor respectively, would like to see Moab protected for mountain bikers and more human-powered Moab-type destinations emerge. The bill doesn’t provide for motorized travel, semi-motorized travel by devices like e-bikes, grazing, mining, or sale of federal land. Nor does it amend the Wilderness Act substantively.
Without public lands, there is no mountain biking, and Sen. Mike Lee is no friend of public lands. He supports the state takeover of public lands and votes consistently NOT to fund the Forest Service or the Bureau of Land Management. Lee’s support of the STC bill is part of his larger agenda to undermine the environmental community, undermine the public land agencies, and give states control of federal lands.
We all know the song, right? But what does that have to do with your business?
A key to growing your profitability is to perfect the art of the add-on sale.
The apparel department can be a profit center - it just needs the right mix of product, merchandising and placement to do its job.
Branding ... we all hear this term frequently and think we know what it means, but how EXACTLY does it apply to you and your bike shop ... and why is it important?
LONGMONT, Colo. (BRAIN) — A recent spate of layoffs across the U.S. bike industry point to a challenging market and an industry reinventing itself.
Across the merger and acquisition landscape, more than half of all deals destroy rather than build value.
Across the bike industry, there are hundreds of smaller and family-owned retail businesses watching the acquistion headlines, trying to figure out what the trends mean.
Our industry is in freefall with what's now a freewheeling schedule of product-porn and profit-challenged early spring sales while snow still blankets the ground in some regions of the country.
LAGUNA HILLS, Calif. (BRAIN) — It's been quite a clash pitting the industry's most powerful company, Shimano, against what is arguably the best competitive cycling magazine and website in the U.S. market, VeloNews.
The second in a series of guest opinions by Steve Maxwell and Felix Magowan.
The recent merger news prompts the inevitable question: Is this an indicator of a new trend in the bike business? What’s next?
Editor's note: Steven W. Hansen an attorney who defends product manufacturers, distributors and retailers in product liability lawsuits and provides consultation on all matters related to the manufacture and distribution of consumer products.
In Part Three, we'll talk about what we might do about to deal with the stigmatization of bicycles, and the industry-wide loss of revenue.
This time, we're going to look at how the ghosts of dead cyclists directly — or not so directly — haunt the bike business.
There is nothing the media likes better than a dead cyclist. Unless it’s a dead cyclist who was not wearing a helmet.
Internet retailing continues to grow as technology sweeps the globe. Or, maybe not so much.


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BANGKOK (AP) — Shares were mostly lower in world markets on today as worries over fresh outbreaks of coronavirus cases overshadowed hopes over reopening economies. In early trading, in London, the FTSE 100 was 0.3% higher, while the CAC 40 in Paris slipped 0.1%. Germany's DAX edged 0.1% higher. In Asia, Japan's Nikkei closed 0.1% lower, while South Korea's Kospi gave up 0.7%. Shares also lost ground in Taiwan, Singapore and Jakarta. Bangkok gained 0.9%. Dow and S&P futures are each down 0.2%.
BEIJING (AP) — China’s auto sales declined again in April but losses narrowed in a sign the industry’s biggest global market is recovering from the coronavirus pandemic as Beijing eases anti-disease controls. The China Association of Automobile Manufacturers reports sales of SUVs, sedans and minivans in the industry's biggest global market were down 2.6% from a year earlier at 1.5 million, an improvement over March’s 48.4% contraction. The industry group says the market shows “obvious signs of recovery.”
TOKYO (AP) — Toyota Motor Corp. expects a sharp plunge in its fiscal fourth quarter profit after the global pandemic slammed vehicle sales and halted production at its auto plants. Japan’s top automaker reports a profit of $590 million for the quarter that ended in March, nose-diving 86% from the previous year. Toyota officials say it was difficult to project the future, given the varying degrees of lockdowns around the world and uncertainties on how the coronavirus outbreak may develop.
TOKYO (AP) — Japanese automaker Honda Motor Co. sank deeper into losses for the fiscal quarter that ended in March, as the damage to the industry from the coronavirus outbreak hurt sales and crimped production. Tokyo-based Honda reports a January-March loss of $276 million. Quarterly sales declined nearly 15%from a year earlier.
TOKYO (AP) — Olympic organizers say five official merchandise shops in Tokyo will close by early June with business hindered by the coronavirus pandemic and the games being postponed until next year. It's not clear if they will reopen. A spokesman says a sixth store in Osaka will also be downsized by early June. Organizers say 89 stores were operating in Japan at the end of April. Organizers hope for income of about $100 million from merchandise sales.


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Netlog, the search portal and collection of online networks spanning several European languages, has announced its plans to offer support for custom APIs and a developer platform. Based on Netlog CEO Lorenz Bogaert's chat with blognation regarding Google's OpenSocial, you'd think that Netlog is interested in joining the movement. But the extent of Netlog's announcements today seems to be its own initiative for offering API and platform options to the developer community.
No further details have been released regarding Netlog's specific plans for the upcoming platform, but why skip out on OpenSocial for now? Yes, Bogaert seems to be less than enthusiastic about OpenSocial, but he's clearly in support of a more open web. With a rather extensive network of its own, Netlog is essentially creating a standard for developers who would like to work within its parameters.
However, Netlog has indicated plans to join the OpenSocial network, while still offering its own developer platform as well. I imagine the benefits of having multiple options means that certain developers can create more involved and customized applications that work beyond the standards that will be implemented with OpenSocial. Will this be a common offering from most online social networks that have joined OpenSocial?
I've spoken with several developers who are becoming somewhat exasperated with the onslaught of platforms being created by individual networks, but several options are better than one. And if it's a matter of choosing the networks that best fit with your application, you'll probably be more likely to build it with the network-specific platform for full functionality as opposed to OpenSocial. It looks like this could be the case with Netlog.
The company's API support is expected to gradually roll out later this year, and Netlog will also begin announcing partnerships with third-party widget creators and application developers in December.


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Image: John Bellamy
A new policy brief from a major research programme whose coordination team is based in the ECI has highlighted the role of small, local food enterprises in feeding communities in Covid-19, and recommends greater investment to allow these types of food providers to contribute to a more resilience UK food system.
The study, Making community-scale food systems more resilient: reorienting consumption practices by supporting community scale supply chain models, was conducted by researchers the Resilience of the UK Food System in a Global Context (GFS-FSR) programme.
The research focused on barriers to market faced by three community-scale food provision models - farmers markets, salad suppliers and community growers - as COVID-19 changed food consumption patterns.
During the pandemic, the small size and local ties of these food providers allowed for a quick response to the evolving demand for food. Farmers markets, salad suppliers and community growers were able to make healthy, locally grown foods more accessible while strengthening community ties through collaboration and volunteer opportunities.
Despite helping to enhance food security by making fresh food more accessible and strengthening community ties, community-scale businesses weren't able to maximise their resilience-enhancing potential for a number of reasons, including delays in food safety inspections, lack of guidance around COVID-safe working practices and unsuitable retail venues.
The study makes the case for three types of intervention to fully realise the potential of community-scale food providers to enhance food system resilience.
- Develop a geographically categorised, online network of community-scale food providers and provide a web platform to connect local suppliers and buyers.
- Provide accessible venues for community-scale food sale and distribution, facilitate development of local food processing facilities, and increase access to public lands for food growing.
- Give nutrition-based subsidies to community-scale growers, insurance schemes for community-scale food providers, and long-term grants for organisations assisting in local nutrition efforts, such as community food hubs
Dr John Ingram, Coordination Team Leader on the GFS FSR Programme and leader of the ECI's Food System Transformation Group said: "The pandemic revealed the important role that small, local food providers play in our food system. It's clear, however, that in order to fully explore these organisations' ability to enhance food system resilience, more investment and research is needed."
Download the policy brief


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Five years ago, Microsoft first released the Ugly Sweater as a prank. In 2017, the company posted three insane Christmas sweaters on social media and asked users which one they preferred. It ended up being their best post of the year and prompted the Redmond-based company to go ahead with the idea a year later.
Microsoft’s first ugly sweater was a Windows 95 variant. Only 100 were initially made and sent to media people, high-profile influencers and Windows fans via social media. The Windows XP Ugly Sweater came out in 2019 and proved to be just as popular, so in 2020 Microsoft started selling them alongside the new MS Paint Sweater. In 2021, Microsoft bet on a minesweeper-themed sweater.
“Our fans really love Windows nostalgia,” said Megan Muehleman, Senior Social Media Manager at Microsoft. “It’s always popular on our channels because we’re one of the only 30-year-old tech brands, so people have grown up with us.”
In addition to ugly sweaters, Microsoft has plenty of other themed merchandise in its Xbox Gear Shop, including clothing, home and office items, collectibles, and accessories. Over the summer, the tech giant collaborated with designer Gavin Mathieu on a nine-piece line of clothing and merchandise based on the Normcore style.
The new ugly Mr. Clipper sweater is available in sizes S to 3XL and comes in only one color, blue. The price is $74.99 and the proceeds will go to the College Success Foundation, which helps students from low-income families earn a degree. Additionally, Microsoft will donate $100,000 to the organization.


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Introduction: As the tech world gears up for Mobile World Congress (MWC) 2024 in Barcelona, all eyes are on Xiaomi as they prepare to debut their highly anticipated flagship device—the Xiaomi 14 Ultra. With whispers of cutting-edge features and top-tier specifications, the Xiaomi 14 Ultra is generating significant buzz in the smartphone community. Join us as we delve into the expectations and potential impact of Xiaomi’s upcoming flagship release.
MWC 2024: The Grand Stage for Xiaomi’s Unveiling: Mobile World Congress has long been a stage for unveiling the latest advancements in mobile technology, and this year is no exception. Xiaomi’s decision to introduce the Xiaomi 14 Ultra at MWC 2024 indicates a strategic move to showcase their technological prowess on a global scale. As the tech world converges in Barcelona, anticipation is building for what could be a game-changing flagship device.
Key Features and Expectations:
- Camera Innovation: Xiaomi has gained a reputation for pushing the boundaries of smartphone photography, and the Xiaomi 14 Ultra is expected to continue this trend. Rumors suggest a sophisticated camera system, possibly featuring advanced sensors, improved low-light capabilities, and enhanced zoom technology.
- Display Excellence: A flagship device is incomplete without a stunning display, and Xiaomi is expected to deliver. The Xiaomi 14 Ultra might boast a high-refresh-rate AMOLED display with HDR support, providing users with an immersive and visually pleasing experience.
- Performance Powerhouse: Under the hood, the Xiaomi 14 Ultra is likely to pack a punch with a high-performance chipset, ample RAM, and storage configurations. This powerhouse combination is designed to cater to users who demand seamless multitasking and swift app performance.
- 5G Connectivity: In keeping with the trend of advancing mobile connectivity, the Xiaomi 14 Ultra is expected to support 5G technology. This ensures faster data speeds, lower latency, and an overall enhanced mobile experience.
- Design Elegance: Xiaomi has been refining its smartphone design language, and the Xiaomi 14 Ultra is anticipated to showcase a sleek and modern design. Premium materials, slim bezels, and a well-thought-out form factor could be in the cards.
- Software Enhancements: Xiaomi’s MIUI is likely to see updates and optimizations tailored for the Xiaomi 14 Ultra, bringing new features and improvements to the user interface.
Global Impact and Competition: The launch of the Xiaomi 14 Ultra at MWC 2024 is not only a significant moment for Xiaomi but also for the competitive landscape of the smartphone market. As the company aims to solidify its position among global smartphone giants, the Xiaomi 14 Ultra will compete with other flagship devices, setting new benchmarks for innovation and user experience.
Conclusion: The Xiaomi 14 Ultra’s debut at MWC 2024 is poised to be a defining moment for Xiaomi enthusiasts and the broader smartphone community. As the world awaits the official unveiling, the rumors and expectations surrounding this flagship device only add to the excitement. Stay tuned for what could be a game-changing addition to the realm of premium smartphones. The Xiaomi 14 Ultra promises to set new standards and captivate tech enthusiasts with its blend of innovation, performance, and design.


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Big credit card debt is a big problem. Collectively, Americans are on the hook for more than $900 billion, according to CardHub, the highest total since the 2008 recession.
Not only are Americans racking up debt at an alarming rate, but we're also in denial about how much we owe. When people are asked about the total balance on their credit cards, their estimates are 37% percent lower than the amounts reported by lenders, according to research by the Federal Reserve Bank of New York.
Whether they know exactly how much they owe (and how much they'll end up paying over time on their debt), many Americans fear they'll be shackled to debt for the rest of their lives. Twenty-one percent of people surveyed by CreditCards.com in 2015 said they feared they would die in debt.
Based on data from CardHub, they have reason to be concerned. The website, which helps people search for and apply for credit cards, recently put together a list of the average credit card balances in nearly 2,500 US cities, based on data from credit reporting agency TransUnion. Using median income data for each city, they also determined how long it would take the average resident to pay off their debt and how much they would pay in interest (assuming an average interest rate of 14%).
In many cities, payoff times could take a decade or more. CardHub determined it would take over 32 years for people in College Station, Texas, to pay off their average debt of $5,601. Over that period, they'd fork over more than four times their initial debt - $25,221 - in interest. People in Murray, Kentucky; Marquette, Michigan; and Stillwater, Oklahoma, were also looking at payoff periods of more than 10 years.
GREENVILLE, NC (WNCT) - The holidays may have come to an end, but for many - the debt acquired hasn't.
At least 37% of Americans obtained new credit card debt this holiday season, and according to creditcards.com, more than one in five thinks they'll never get to a zero balance.
I talked to a local financial advisor who says it's possible to become debt-free.
"The interest rates that you pay is probably the first place to look," said Jon Randall, Platinum Financial Advisor."
The higher the interest rate, the more you're going to pay each month, so try and move those payments to a card with a lower interest rate.
"Sometimes credit cards offer maybe a zero percent balance that can be a temporary place to at least move that so you're not paying interest."
If you don't want to move payments, simply ask your credit card company for a lower interest rate. They want to keep your business and many people have luck getting their rates reduced.
The next plan of attack - start with the small balances first.
"When somebody has a lot of different payments, that can really eat into your cash flow. If you can wipe out a smaller, eliminate that payment, you can put that payment towards other places."
John Britt says that's his plan of attack.
"This holiday season I definitely spent a little more than expected.. spent a little more money on Christmas gifts and it kinda added onto my expenses this year."
"One step at a time helps," said Randall. "Maybe allocating just $20 a month, maybe $40 a month, maybe it gets up to $100 a month towards paying those down. It's a journey but it can be done."
CardHub recently published a ranking that calculated what US cities maintain the least and most sustainable credit card debts. By drawing on credit data provided by their partner TransUnion, CardHub analysts calculated the number of months required to pay off the average credit-card balances of 2,547 US cities as well as the associated costs of doing so.
Richmond was determined as one of the cities with the least sustainable credit card debt, edging out only four other cities at the the bottom of the list: West Chester, PA; Kent, OH; Powhatan, VA; and College Station, TX.
According to information from the CardHub report, Richmond's average credit card debt is $5,746. The average cost to pay off that debt is $9,579 and the average number of months needed to bring the balance to zero is 210 months.
Dana C. Overall, a local certified public accountant who has been practicing for 28 years, said he was not surprised to find Richmond at the bottom of the rankings.
"It's not surprising actually," the CPA said from his office on Second Street. "People are very unaware of their FICO scoring and how manage their credit cards to it's maximum potential."
Overall said in his 28 years, he has been shocked by some of credit card statements that has traveled across his desk.
"People are oblivious to what they can do to help themselves when it comes to credit cards, a lot of people abuse their credit cards which gets them into trouble."
The accountant said most people with credit cards are guilty of not making a long term plan or falling into common misconceptions about FICO scores and payments.
Overall said he often teaches a class on how to boost one's FICO score within a month's time and encourages others to make a plan for spending and treating credit cards as tools rather than lifelines.
"People think that as long as they make timely payments then their credit scores should continue to go up, and then they get discouraged when they go to get a mortgage loan that their FICO score is not where it needs to be."
With some careful planning and by only using 30 percent or less of your available credit, Overall said credit card users can use the mathematical algorithm that is applied to credit reports by FICO to their advantage.
The FICO scoring system (Fair, Isaac, and Company) is the number representing the creditworthiness of a person or the likelihood that person will pay his or her debts.
While the FICO formula for calculating credit scores is secret, Overall said one can easily swing their credit scores up or down, but that spending habits have to be curbed.
"It comes down to education, you have to educate yourself on what goes into their credit scores. It affects people a lot more than they realize," the accountant said.
Overall's point about people often not having a plan for spending and how to manage their credit cards is one that current research into brain function and psychology supports, according to research by Nobel prize winner Daniel Kahneman, Amos Tversky and Richard Thaler.
Current research into how human brains react to money indicates that people are particularly bad at managing their finances and spending especially when money is in electronic forms such as credit cards.
However, as bad as some easy spending can be, Overall says that a person's credit score is only one snapshot at one time.
"When they pull your credit score it is only one current moment in time, they can't go back and look at it. So it is something that can be changed," said the accountant. "If you have had a bad time there is a way out of it."
Overall recommends that frequent card users continue to use their cards responsibly.
"No one should ever go over 50 percent of their available credit," said the CPA. "It really hurts your score, late payments are also something that can bring it down."
Overall said even if credit card users can't pay off the entire card's balance it is best to try and pay three times the minimum due. Also, he recommends dispensing with store cards, as they do little to help your credit score but can be detrimental if used incorrectly.
"They come with very little of the perks of regular cards which are weighted more on your report, but can they can hurt you just as bad," the accountant explained.
Overall said those that are in extreme debt must plan accordingly and try to acquire some responsible credit card usage while they pay off other debts.
"They may have to start with a secured card and pay a few hundred dollars up front," he said. "But as they continue to use that card properly, they will continue to bring their credit scores up and they can begin to apply for cards with higher limits which increases your score. It's all about educating yourself and personal responsibility."
While Richmond was one of the cities with the least sustainable credit card debt, Cupertino, CA, had the most sustainable debt with an average credit card debt of $4,703 with an average 10 months to pay off the debt.
View the full report at www.cardhub.com.
A recent survey of personal credit card debt found that Carbondale ranked in the bottom 1 percent of 2,547 cities and towns in the nation. Carbondale ranked 2,537th.
Contributing to that low score is the fact that of all the cities in the survey, Carbondale ranked dead last in median earnings for workers age 16 and above.
The study, conducted by the credit-monitoring company CardHub, also showed that the most credit-card-debt-laden cities are college towns. Of the 10 towns ranked below Carbondale, eight are homes to major universities.


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The New York City Fire Department continued its investigation Monday into the cause of a four-alarm fire that tore through a block of stores in Queens on Sunday.
Flames broke out in a deli on 99th Street and 66th Avenue in Rego Park just after 8:30 p.m. The fire quickly spread down the block, eventually engulfing several other businesses, including two food markets and a laundromat.
Four businesses were completely destroyed, including an international food market opened by Alfira Bikchantayeva and her husband in 1998. After her husband died five years ago, Bikchantayeva worked 12-hour days, seven days a week to keep the store open.
"Just like a dream, it's like it never happened. I still cannot believe this happened," said Bikchantayeva. "It's terrible, I couldn't sleep all night, I was so shocked."
Locals gathered at the scene to survey the damage as fire officials determined whether the ruined buildings could be salvaged.
"I looked out the windows and saw those flames. I started to cry because these people are here so many years," said Rego Park resident Eve Rook. "I run across the street to get an apple or piece of fruit. The little candy store, there's a woman there named Jenny, she's been there years. She took that little store and she made it into like a little gold mine."
"Every day I come to this lottery store in the morning, buy gum, candy," said Rego Park resident Arkadiy Fayzakov.
About 160 firefighters were called to the scene and 12 suffered minor injuries. The roof caved in on some of the stores, causing trouble for the firefighters.
"While attempting to go in with hand lines, the fire exploded on top of them, the ceiling fell down," said FDNY Assistant Chief James Manahan. "We withdrew the firefighters, we repositioned the exposure stores and we were able to stop the fire from extending past the fourth store going south." A synagogue across from the block suffered minor smoke damage, and local temporarily removed torahs, holy garments and other items of worship from the building.
"I see the synagogue, everything is being evacuated. I run inside, we take everything out," said congregant Simkho Barayev.
The synagogue suffered minor damage and will reopen. It is too soon to say whether the owners of the gutted businesses will rebuild.


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Celebrate Mayfest in downtown Frederick
April 9, 2012 by James
Mayfest will take place on May 5th from 10am – 9pm. Participating merchants will be giving a flower to everyone who visits; visitors can collect a bouquet of flowers to take home with them after the event.
In addition to many stores opening their doors, there will be music, live entertainment, gallery openings, and children’s activities to enjoy. This year the Camaro Nationals will also be taking place at the same time, displaying old and new Camaros to admire.
Mayfest can be a great opportunity for stores to get more attention from those people who don’t usually shop downtown and rely on the “big box” stores to purchase their needs. It will be local stores’ chance to show citizens of Frederick they can offer a lot more than those big stores, and often for competitive prices. Flyer printing services can help the stores to spread the word about Mayfest; stores can offer special sales for that weekend and include a money saving or free sample offer coupon in the flyer. The flyers can be sent out by mail or they can be delivered door to door in town. It can also be a chance to test how effective a flyer marketing campaign can be by having those people bring in the coupon. They can use that experience to plan future marketing campaigns.
Many cities in the United States have had trouble bringing people into the downtown area; many of them are holding annual events such as Mayfest to bring their downtown back to life.


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Perhaps hinting at the update's imminent launch, people using the iOS 10.2 beta can now find a section on the App Store dedicated to apps which support single sign-on for their cable, satellite, or internet TV streaming services.
Apple on Monday continued the expansion of public transit directions for Maps, adding systems for the Minneapolis-Saint Paul metropolitan area in Minnesota.
New IDC data examining the wearables market shows a growing overall presence, with fitness bands claiming 85 percent of Q3 sales, but little impact demonstrated from the late-quarter Apple Watch refresh in its short availability.
On iOS devices, Netflix has broadened how it handles encoding videos for downloading, looking at a feature in short chunks, and making decisions on how each piece should best be handled.
Developers in South Korea are decrying the iOS App Store's refund policy, saying that they are spending an inordinate amount of time cracking down on customers who have claimed to need a refund for an app's purchase by minors, yet are still consuming resources.
Apple is preparing to launch its next Chinese store in Shanghai on Saturday, Dec. 10, throwing open the doors at 10 a.m. local time.
Very recently, Apple updated its beta iCloud site with support for the Touch Bar on the 2016 MacBook Pro -- but the support is bug-laden, and not fully implemented.
A group of 8 to 10 burglars reportedly rammed a rented Kia Soul into the Palo Alto Apple store over the weekend, stealing numerous Macs and iPhones.
U.K. law enforcement has turned to legalized "street robbery" to avail themselves of suspected criminals' iPhones, snatching them after the owner unlocks them to prevent contents from being irretrievable by forensics teams.
The latest FileMaker Pro 126.96.36.199 is at the center of an entire ecosystem aiming to help individuals and whole corporations manage their data. AppleInsider examines the platform's main app, which is now -- mostly -- macOS Sierra-ready.
Bluetooth audio -- especially when exercising -- has always been "good enough," but never great. Apple's W1 chip in its latest headphones lineup changes that, and the proprietary wireless technology steals the show in its new sports-focused Powerbeats3 headphones.
News settled down this week post-Thanksgiving, but there were still developments involving next year's OLED-equipped "iPhone 8," and hints about where Apple is going with its Maps app and future health hardware.
In perhaps the most public admission of its automotive ambitions, Apple in a statement issued to the NHTSA in November proposed a policy update that would grant industry newcomers the same opportunities as established manufacturers when it comes to testing on public roads.
Apple this week removed Apple VP of Special Projects Paul Deneve's bio from its Apple Leadership webpage, suggesting the executive has changed roles or is no longer with the company.
An undetermined number of 2016 MacBook Pro models are suffering from disturbing graphical rendering issues, with owners reporting full screen artifacts, screen tearing, flashing, random "glitches" and even system crashes. The issue, however, is related to overzealous third-party software and is not indicative of a critical hardware flaw.
Apple's App Store app has been updated, with the primary addition being the ability to allow users to make purchases from the Apple Watch.
An executive hired to lead teams responsible for HealthKit, CareKit, and ResearchKit -- as well as related machine learning algorithms -- has left Apple after just a few months on the job, a report said on Friday.
In nine markets, Apple will soon move to using local currencies on the App Store, according to an official notice to developers.
Apple on Friday released a fifth beta of iOS 10.2 to developers and public beta participants, its second update of the test software in just four days.
Elaborating on an unfolding issue with iPhone 6s shutdowns, Apple on Friday linked the problem to gaffes during the manufacturing process.


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- Actavis Plc planned to withdraw Namenda (memantine) IR form the market in August to introduce its newest formulation -- Namenda XR.
- A lawsuit filed on September 15 in New York accused Actavis and its subsidiary Forest Labs of trying to reduce generic competition and force patients to switch over to the pricier new formulation.
- Actavis has reached an agreement with the NY attorney general to continue selling the less expensive Namenda IR for 60 days.
With patent expiration of Namenda IR imminent (July 2015), marketers at Actavis and Forest have a vested interest in switching patients to a branded formulation. In fact, 40% of patients have already switched.
Because of the lawsuit, Actavis and Forest have agreed to continue selling Namenda IR, but it's unclear what will happen on the other side of this 60-day window. Regardless, chances are good that by next summer, generic competitors will be introducing cheaper versions of memantine IR.


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Netflix Inc. (NASDAQ:NFLX) shares skyrocketed nearly 17 percent on Wednesday after the Scotts Valley, California-based streaming entertainment service posted strong financial results for the fourth quarter.
The company announced that its global subscribers count crossed a landmark of 200 million at the end of 2020. NFLX added that it will no longer need funding for running its daily operations and producing original content for its streaming service.
Netflix posted revenue of $6.64 billion for the quarter, significantly higher than $5.47 billion in the comparable period of 2019. Analysts on average were looking for revenue of $6.6 billion. Earnings for the quarter came in at $542 million, or $1.19 per share, as compared to $1.30 per share in the same period of 2019, and below the consensus forecast of $1.36 per share.
There are 8.5 million new paying subscribers in the quarter as of December 31, well above analysts’ average estimate of 6.1 million additions. Looking forward, NFLX expects to add 6 million paying subscribers in the first quarter, below the consensus forecast of 8 million.
Netflix stock performed exceptionally well in 2020. The Covid-19 outbreak forced governments around the world to impose lockdowns to limit the spread of the virus. People stuck at home increasingly turned to online streaming services including Netflix during the pandemic. The company added a record 25.9 million new subscribers in the first half of 2020. Meanwhile, rival Disney+ is also growing at a rapid pace. Disney announced last month that the Disney+ subscriber count crossed 86 million in just over a year after its launch.
NFLX stock started 2020 trading around $325. Its stock value has increased more than 70 percent over the past year. The stock touched a new 52-week high of $593.29 in the previous trading session following the company’s impressive quarterly performance.


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Fast food chain Wendy's is the latest restaurant to start serving healthier options to children.
According to USA Today, the announcement was made by the Center for Science in the Public Interest (CSPI) , a Washington D.C.-based consumer advocacy organization that provides consumers with health and well-being information.
See also: Rhino Doughnuts Opens Second Location in Boca Raton, Third Coming to Sunrise This Week
In a statement, CSPI senior nutrition policy counsel Jessica Almy said, "Restaurants should not be setting parents up for a fight by bundling soda with meal options designed for kids. Wendy's is taking a responsible step forward that will improve children's health and make it easier for parents to make healthy choices for their children. We hope Burger King, Applebee's, IHOP, and other chains follow suit."
The publicly-traded company has discontinued offering soda as a publicized option for their kids' meals, but will continue to serve sodas on request. That means that official kiddie drink options on the menu board will include water, apple juice, milk, and chocolate milk, but parents can opt to include soda upon ordering their meal.
Of course, a Frosty, Wendy's signature cross between a shake and soft serve ice cream, is also available as a drink option.
Wendy's joins fast food giants like Subway, Arby's, Chipotle, Panera, and McDonald's. According to CSPI, Burger King, Applebee's, and IHOP have yet to hop on the healthy kid bandwagon and continue to offer sugary sodas as a drink option for children.
Follow Laine Doss on Twitter @LaineDoss and Facebook.


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Look for General Motors’ Buick brand to add another Chinese-market compact SUV to its family for 2023, as the compact Envista joins its U.S. line-up.
Built from a SAIC-GM design for the Chinese market, the new vehicle should arrive in the United States during the second half of 2023. It may be among the last Buicks powered by an internal combustion engine as Buick begins introducing EVs in 2024 using the Electra sub-brand.
GM President Mark Reuss talked about the new vehicle during the automaker’s investor day conference on Nov. 17.
Part of an expanding Buick line-up
Most likely, the Envista would slot between the $25,900 Encore GX and $35,600 Envision in Buick’s line-up now that the diminutive Encore has been dropped. At 182.6 inches long with a 106.3-inch wheelbase, it’s at the larger end of the compact spectrum, being notably larger than the Encore GX at 171.4 inches long with its 102.2-inch wheelbase.
That said, it’s every bit as long as the Chinese-built Buick Envision, which is about the same length, but employs a longer 109.4-inch wheelbase and comes with a 2.0-liter turbocharged 4, not the 1.5-liter turbocharged 4-cylinder engine use in the Envista. It’s rated at 181 horsepower and 184 pound-feet of torque through a continuously variable automatic transmission versus the Envision’s 228 hp and 258 lb-ft of torque.
The Envista debuted in China in August, the first Buick to sport the brand’s new design language, which employs styling first used on the newest Buick Wildcat concept car and is the first to use Buick’s redesigned tri-shield badge. The front fascia’s grille and thin, wing-shaped LED lighting are to become Buick’s new face.
A GS Package is available that adds a number of sporty design flourishes, including a high-gloss black mesh grille, 18-inch wheels with a black finish and red brake calipers, and suede-wrapped sporty seats featuring embroidered GS logos.
The new vehicle should shore up Buick’s SUV portfolio in China, where the company has sold 10 million Buicks since the brand was reintroduced.
GM hasn’t mentioned pricing, but the Buick Envista starts at ¥152,900 in China, or $21,352 using current exchange rates.
What’s expected next
According to Automotive News, a new Enclave will follow in 2024, although it would be the last new ICE-powered Buick, as the brand is expected to have a fully electrified line-up by the end of the decade. Buick’s electric vehicles will be sold under the Electra sub-brand, reviving a name last used in 1990 for its full-size sedans. Models will be distinguished from one another using alphanumeric designations.
The new Electras will all be built in China, Buick’s biggest market.
The same year, 2024, will also see the Envision receive a mid-cycle freshening, as will the Encore GX. Whether anything like the Buick Wildcat EV concept reaches production remains to be seen. But odds don’t seem good. Buick has repeatedly shown stunning new coupe concepts, none of which have reached production. So look for the Wildcat to remain a source of inspiration for designers; a statement of intent.
That said, it will be interesting to see what happens with Buick in the long term as Cadillac attempts to move upmarket as it electrifies, as Buick would step upmarket as well. Buick is already heading in that direction with its post Avenir luxury sub-brand, enhancing Buick’s number one ranking in J.D. Power’s latest initial quality survey.
Buick sold 179,799 vehicles in 2021, up 9.5% from the 162,741 units in 2020. The Encore GX was its most-popular vehicle, followed by the Envision, Enclave and Encore. For the first three quarters of 2022, Buick sold 76,598 units down 49.2% year-over-year. While the Encore GX remains its top seller, the Enclave is second most-popular, followed by the Envision and Encore.


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The unit has got a show-cause notice asking why it shouldn’t be taxed for services provided to the foreign parent. The notice has been issued by service tax authorities in Bengaluru where the sourcing entity is based, said an official aware of the development.
The tax liability has been pegged at Rs 18 crore. The unit serves as an intermediary that facilitates transactions between the parent and vendors in India. Walmart said it’s in the process of replying to the notice.
“We’ve received the notice and are responding,” a spokesperson said. “Our sourcing office in Bangalore sources local products from India and the region for our markets around the world. We’re very proud of our contribution in creating thousands of skilled jobs and supporting key government initiatives like Make in India.”
A number of multinational companies source products from India for their parent firms or another overseas group entity. Walmart has an Indian arm that operates its wholesale business from which the overseas parent sources goods — the activity that’s come under the service tax radar.
The Indian arm usually carries out sourcing and marketing for the overseas parent and acts as a communication channel between the suppliers and the overseas entity. The parent deals directly with suppliers and the Indian entity facilitates the placement of orders.
The Indian company is usually paid in foreign exchange by the overseas parent for its services. In the past, such services were treated as exports and not taxed in India. Incidentally, these entities also received refunds on input taxes as the services were classified as exports.
A change in place of supply rules in October 2014 expanded the definition of intermediaries, bringing services carried out by these firms within the ambit of service tax. Tax officials have taken the position that the MNC units are facilitating execution of contracts between Indian clients and foreign parents, which amounts to acting as intermediaries and are therefore liable to service tax.
The prima facie view by the authorities is that if there are three parties involved, then one of them has to be an intermediary.
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6 Comments on this Story
Nithin1696 days ago
It is hypocrisy that you want foreign investment but treat the MNCs as evil and the there is moving standards or tax interpretation and lack of uniformity in the country.
Shankar1697 days ago
Some strange activities are going on the Wallmart depots in the US. Almost all of them are closed.
Shanky Parkar1697 days ago
good.. this needs to checked for al MNC''s


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KUALA LUMPUR – October 3, 2019: The largest vape exhibition ever held in the country, North Vape & Pod Leypark was held in Penang three days ago.
The event, jointly organised by local entrepreneur Bosco Vapor and non-governmental organization National Drivers, was officiated by Nor Hizwan Ahmad, the political secretary to Housing and Local Government Minister Zuraida Kamaruddin. Also present was Penang executive committee member in charge of health, Dr Afif Bahardin.
Event spokesman Badrul Hisham Shaharin, also known as Chegubard said the exhibition was attended by over 10,000 people which indicates the huge demand for vape products in Malaysia.
The vape industry in Malaysia was estimated to currently worth over RM2 billion and is a fast-growing market. Its ecosystem includes manufacturers, importers, logistics, warehouse and distributors.
Badrul said 95 per cent of vape entrepreneurs are bumiputras and they need the support from the government.
Addressing public concern over the event, he assured that strict control was maintained to ensure that those under the age of 18 were prohibited from it.
Badrul said those involved in the vape industry welcomed the government’s intention to enact new vape and e-cigarette regulations.
“Regulated industries allow for the introduction of vape products that meet safety standards and prevent traders from targeting underage consumers. In addition, the introduction of new laws for the industry will benefit the government in term of tax collection,” he said..
Previously, the government had decided that the vape industry will be regulated and that its products that contain nicotine should come under the purview of the Health Ministry and that new regulations will be formally introduced soon.
Health Minister Datuk Seri Dr Dzulkefly Ahmad was quoted as saying that the proposed new laws was expected to be able to tackle the issues comprehensively.


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2014 GMC Sierra 1500 Denali full-size pickup will be available this fall with an 6.2L EcoTec3 V-8 engine, which will produce 420 horsepower and 450 lb-ft of torque. The GMC Sierra Denali is the most deluxe and technologically modern GMC half-ton pickup.
Sierra Denali’s typical exterior design is the very substance of Professional Grade confidence. Denali states its presence with a incomparable chrome grille, chrome accents and 20” chrome aluminum wheels.
Sierra Denali puts a superior comfort, suitability and control with refined characteristics such as high-quality leather-appointed seating, soft-touch materials, chrome and wood-grain details and the latest technology.
Tony DiSalle, vice president of GMC Marketing, said: "The 2014 Sierra Denali has a combination of performance, capability and luxury that no other pickup can match,"
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Here at Innovation Labs by AVG, we have been working on a security router, Chime, to protect our customers from new security threats of growing connected devices in our homes. Sign up for Chime here to be notified when we launch our preorder campaign on Indiegogo.
Our homes are filling up with more and more internet connected devices, personal or smart home devices, that aren’t protected and are riddled with security risks. A study by HP revealed 70 Percent of Internet of Things devices are vulnerable to attack, due to lack of standard security measures that one would expect in this day and age, for example use of encrypted communication, secure firmware downloads and allowing weak passwords.
If you are one of those who still doubt the fuss around smart homes, just wait until you decide to change your thermostat or replace your lights. Everyday people who are moving or re-doing their house are confronted with a choice to buy a smarter thermostat, switch or lights. The average number of connected devices per household in the U.S. is already at 5.2; and Gartner predicts that by 2022 a typical home could contain over 500 connected devices.
The rush, fuelled by startups, to grab the IoT business is resulting in many of the products being shipped with major security flaws. The pressure from startups and established companies like Google (nest) is driving incumbent manufacturers to embed connectivity/smart technology into their existing products to stay competitive. This is a whole new territory for some of these manufacturers. And unlike the world of PC and smart phones, the IoT market is still missing a leading operating system, platform and a wireless technology that all vendors could get behind.
On the operating system side, Google recently announced Brillo, its android based OS for IoT devices, which so far remains the only OS from a major company (Apple so far has remained on the peripheral – with Homekit acting more as a hub). On the wireless technology, there are at least 4 contenders to enable IoT communication in our homes i.e. Bluetooth, Zigbee/Thread, Z-Wave, Lutron, etc. One of these wireless technologies will have to emerge dominant: like GSM did over CDMA/PAS for cellular communication and Wi-Fi did over Bluetooth for wireless LAN.
The security risks, even after the IoT market matures will remain high as having so many connected devices results in endless entry points or so called back-doors into your home for a potential hacker. Something somewhere will always be left open or unsecured – either by our mistake or due to manufacturer’s oversight. Even the temptation and reward of hacking into the connected devices in our homes, for example our webcams is going to be too strong for evil doers to resist.
The internet experts see security of wireless devices as a big problem too. In a letter submitted to the Federal Communications Commission (FCC) in response to the rules laid out in ET Docket No. 15-170, Dave Täht, co-founder of the Bufferbloat Project, and Dr. Vinton Cerf, co-inventor of the Internet, along with more than 260 other global network and cybersecurity experts, proposed new approach to ensuring security of these wireless devices.
One of the recommendations made is that device manufacturers should provide public, full, and maintained source code for review and improvement so security experts can easily research and expose vulnerabilities. A recommendation like this would have definitely made the job of security researchers that identified the security risk in LiFX LEDbulb much easier.
A recent article from Geoffrey Fowler, a tech columnist for the Wall Street Journal, captured this emerging problem from a consumer point of view perfectly and in my view even coined a term for the solution that’s needed – “Antivirus for our home.” The role of existing consumer antivirus products needs to expand to even provide security to our connected homes.
Consumers however do not yet see the need for a security solution to protect these connected devices. To give you an example, we conducted a study early this year to understand how secure customers feel about their connected devices. Here’s a response that wasn’t too uncommon: “What’s the worst that can happen, they can turn my lights on and off or play some music?” But when presented with the fact that “a smart light could potentially allow an attacker to steal their W-iFi password and ….”, they were more cognizant of the potential risks.
So we are exploring innovative ways in which we can provide this additional security to our customers in the easiest possible way. Chime, is our first step into addressing consumer security needs of a connected home – with security on the router. We believe that a router-based security solution will be an important part of future security offerings to secure our smarter homes. A router-based security service would be able to analyze traffic to and from all our connected devices, even the devices that are not protected by an antivirus. This additional layer of security will make it measurably more difficult for hackers/attackers to penetrate our home networks. Just like in enterprise market, a smart home network will need both network and end point security solutions.
So what do you think about the need for securing our smart homes?


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The new milk processing plant agro "Russia" launched in Anapa town Dzhiginka. In the opening of the workshop attended by the Mayor of Anapa.
At present, the production capacity of milk processing up to 7 tons per day. In the future it is planned to increase this to 20 tons per day. The shop is equipped with line perrabotki Israeli firm "Tessa": the whole process is carried out in private. People will only supervise the work of automation and ship the finished product.
In agricultural firm "Russia" has a farm of 1,300 head of cattle. From here to the plant and will supply milk.
With the launch of the processing plant the company has obtained a closed cycle of production of dairy products. There will be a full range of dairy products: from pasteurized milk to processed cheese.
"Today, we recreate the crumbs food processors, and in particular, the dairies. Very nice to open a new facility in the industry. Natural products Kuban manufacturers — is an important factor of improvement of local residents and tourists, "- said at the opening ceremony of the workshop mayor of Anapa Tatiana Evsikova.
For guests attending the opening ceremony was conducted tour of the new shop, with the indispensable tasting.
The head of the city administration visited the farm and agro-industries.
The projected level of production in terms of money is 80 million rubles. The company will create 10 new jobs. Commissioning of the plant was the last stage of the participation of the enterprise "Russian" in the implementation of the national project "Development of agriculture", aimed at accelerating the development of animal husbandry. With the launch of the processing plant the company has obtained a complete closed cycle of production of dairy products.


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The drastic measures to keep people at home as the COVID-19 pandemic spreads have decimated the small business sector. These vital businesses provide local amenities and experiences that enrich our lives and anchor our communities, and they’re a critical source of income and wealth generation for their owners. And a subset of small businesses—young businesses, which are zero to five years old—are the primary drivers of the nation’s net job creation and productivity growth.
Because small businesses have greater credit constraints and are more sensitive to weak consumer demand, they are often hit the hardest in economic downturns. The COVID-19 recession is uniquely damaging to them, especially those relying on foot traffic and social interaction.
As policymakers prepare relief measures to support small businesses, it’s helpful to look back at what happened to small businesses during the last major economic downtown, 2007 to 2009’s Great Recession. The COVID-19 recession will likely differ in severity and duration from the Great Recession, but it may nonetheless offer clues as to how small businesses experience economic contractions compared to larger businesses.
Small businesses had fewer workers but larger job losses during the Great Recession
The Small Business Administration’s definition of “small” varies by industry, but for the purposes of this analysis, we define small businesses as those with fewer than 250 employees, which is the highest standard to qualify in most industries.
During the Great Recession, these small businesses experienced disproportionate job loss compared to their share of total employment in the economy. Nationally, small businesses accounted for 45% of employment, but as the economy shed about 5 million jobs from 2008 to 2009, they accounted for 62% of the net job loss (Figure 1). Compared to the Great Recession, the early stages of the COVID-19 economic crisis suggest that job losses will fall even more disproportionately within the small business sector.
Micro businesses and young businesses are particularly vulnerable
As policymakers develop responses to the severe economic contraction we’re facing, they should consider that job loss varies considerably by the age and size of the small business.
Generally, the older and larger a small business, the better it fared during the Great Recession. Micro businesses (fewer than 10 employees) and young businesses (zero to five years old) are most vulnerable across all sectors (Figure 2). The employment losses within young and micro businesses ranged from 15% in wholesale trade and services to nearly 35% in retail trade and construction, the latter of which reflects the role housing played in the Great Recession.
Restaurants and small retail outlets are likely to lead the losses during the early days of the coronavirus-fueled economic crisis. But eventually a major recession will hit every sector of the small business economy, as consumer and corporate demand decreases. This chain reaction begins first and most intensively with younger, smaller (and thus more vulnerable) businesses.
Geographic trends matter
Broader industrial and technological trends—and how those influence the dynamism of metro area economies—also played a role in how small businesses experienced the Great Recession. Small businesses are predominantly locally serving, meaning their viability depends on the health of the key export industries in their local economies.
Among the nation’s 100 large metropolitan areas, eight metro area economies actually managed to expand despite the Great Recession. This was mainly due to the energy boom, which kept demand for small business activity higher in regions in such as Louisiana, Oklahoma, and Texas (Map 1).
Most communities were not so lucky. In more than half of the nation’s 100 largest metro areas, small businesses accounted for at least 60% of net job losses. In 16 large metro areas, small businesses were responsible for more than 90% of net job loss. Metro areas that were hit hardest included Philadelphia, Fresno, Calif., Jacksonville, Fla., Bridgeport, Conn., Louisville, Ky., and St. Louis, Mo., among others.
Mitigate, then recover
Last week, we wrote about several small business relief strategies that local and state governments are pursuing, including emergency loan funds and tax relief. Still, not every small business is equipped to survive this downturn. But because small businesses contribute disproportionately to job loss during recessions, these policy responses are necessary. In our current crisis, these measures must occur immediately—which means that speed and simplicity are important considerations.
If speed and simplicity are required in the short-term, then scale is the operative word for the medium-term recovery. As of this posting, the Senate is on the verge of passing a relief package of at least $350 billion for small businesses. This federal package is critical, because locally led capital support will only take local economies so far.
In the long-term, policymakers and business development providers should remember that the Great Recession was distinctly damaging to small businesses. And that was at a time when shops and restaurants could still rely on social interaction and foot traffic for business—COVID-19 has stripped even that advantage away.
This crisis will demand a set of policy supports that are both broader and longer-term than those pursued in 2009. Otherwise, small businesses are certain to face a calamity.


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UK-based The&Partnership has made what looks like a big breakthrough in the US, winning Carlsberg Group’s social media account. Carlsberg’s brands include Carlsberg, Kronenbourg 1664, Grimbergen and Somersby.
The assignment also includes ‘influencer’ campaigns, one of T&P’s specialities. T&P media agency m/SIX will lead social media strategy.
T&P North America CEO Andrew Bailey says: “Carlsberg Group is one of the world’s pre-eminent brewers and we are pleased to have been selected to support their increasing efforts in the US market, We look forward to working together to help them win new fans across the full spectrum of beer and hard cider enthusiasts.”
Carlsberg says this is its first “significant social media effort” in the US and the first time it has hired an outside agency for social media.
T&P kicks off with a ‘Timeless Pairings’ social campaign for Kronenbourg 1664 Blanc wheat beer (above), the official beer of New York Fashion Week.


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A product and graphic designer in Hong Kong has fulfilled a childhood dream by building a realistic humanoid robot that is a dead ringer for Hollywood actress Scarlett Johansson and was created with 3D printing technology.
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Marriott Hotels announced the opening of
Germany's Angelique Kerber stunned world
A US air strike that destroyed a medical
Word of advice: spend the weekend cleari
Apple has accused the US Justice Departm
With the terrorism threat level remainin
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Whereas 2021 confirmed many Structure, Engineering & Building (AEC) companies studying to adapt to the chaos attributable to the Covid pandemic, many had been hesitant to rejoice, pointing to ongoing labor and provide chain constraints and the uncertainty surrounding the U.S. infrastructure laws. And whereas some AEC companies have thrived, introducing new instruments and strategies to handle an more and more digital market, others proceed to battle, looking for the right recipe for prime progress.
Amid the turbulence, one factor has turn out to be clear: Change occurs shortly and people AEC companies which might be gradual to adapt shall be left behind. The Hinge Analysis Institute’s newly launched Excessive Development Examine 2022: AEC Version paints this image.
Concerning the Examine
The evaluation covers 141 AEC companies, representing a mixed income of practically $40 billion and greater than 60,000 staff. Corporations of all sizes, international areas and key govt roles had been represented within the research, with the overwhelming majority of companies doing enterprise in america.
This 12 months’s research confirmed that whereas advertising budgets have stabilized after a speedy ascent final 12 months, excessive progress AEC companies are introducing new digital strategies into their repertoire to assist stimulate progress. Moreover, AEC companies have gotten more and more extra all for widespread subjects similar to workflow/course of automation, buyer expertise and digital transformation.
On this article, I’ll clarify how these fast-growing companies have constructed their aggressive edge with their pursuits, challenge supply, recruiting and retention in thoughts, by 4 key areas: know-how, expertise, technique, and advertising.
Merely put, excessive progress AEC companies are using advertising and enterprise growth applied sciences greater than their no progress friends—20 % extra, to be actual—and particularly in the case of buyer relationship administration (CRM), advertising automation and synthetic intelligence (AI). Additionally they use know-how to trace their advertising and enterprise growth actions extra ceaselessly than their counterparts.
Nearly half the excessive progress AEC companies surveyed used knowledge from their web site or different digital sources to attain leads and had been 30 % extra worthwhile than the no progress companies. Forty % use metrics and ROI to report on and analyze the affect of their advertising efforts. These are the AEC companies to observe as a result of they’ve the information and analytics with which to make extra knowledgeable enterprise selections.
Because the battle for prime expertise, fueled by the pandemic and “The Nice Resignation,” rages on throughout all skilled providers industries, AEC companies have been searching for methods to draw the extremely expert professionals they want. This 12 months’s research discovered that top progress AEC companies usually tend to seek the advice of with exterior businesses and freelancers to make sure their advertising wants are met they usually can cowl any essential expertise gaps (e.g., graphic design, copywriting.)
Curiously, regardless of outsourcing the work, the research confirmed that top progress AEC companies have the best expertise benefit in a few of these actual advertising actions, similar to Search Engine Optimization (search engine optimisation).
How do excessive progress AEC companies and no progress companies differ as they appear towards the long run? Whereas mergers and acquisitions (M&A) will seemingly nonetheless play an element in excessive progress AEC companies’ future progress methods, their focus is popping elsewhere. Whereas AI is prime of thoughts for many AEC companies, the excessive progress companies are extra all for studying about VR/AR, innovation subjects and cyber safety tendencies than their no progress counterparts.
The Hinge Analysis Institute additionally checked out what challenges excessive progress AEC companies had been anticipating down the street which proved to vary from their no progress friends. Whereas most AEC companies have turn out to be accustomed to a distant work atmosphere, managing that distant workforce remains to be prime of thoughts for a lot of excessive progress companies. And as digital transformation takes maintain, the quickest rising AEC companies are extra involved with modifications in how their patrons are shopping for their providers within the coming years.
Advertising and marketing
It comes as no shock that top progress AEC companies are investing extra in advertising than their no progress friends to be able to drive their progress and profitability, however the place do they see essentially the most bang for his or her buck? The HGS report supplies a full record of essentially the most impactful advertising strategies however what is especially noteworthy is that seven out of the ten are digital strategies similar to podcasts (#1), webinars (#2), video running a blog (#4) and key phrase analysis/search engine optimisation (#10).
And after we take a better look, we are able to see that top progress AEC companies are receiving a lot better affect from presenting in academic webinars and key phrase analysis/search engine optimisation, two essential, digital strategies which have been neglected by the no progress companies. The research additionally discovered that increased search engine optimisation maturity (the extra you put money into search engine optimisation in your agency) interprets to extra digital leads.
Maybe one of many best learnings from this 12 months’s research is the place excessive progress AEC companies are prioritizing their time subsequent, as a result of in any case, they have to be doing one thing proper! Social media advertising, a low-cost, low-effort digital method, was recognized as their prime precedence for 2022 by virtually thrice as many excessive progress AEC companies as no progress companies. This focus comes because the business continues to take care of the consequences from the pandemic and limits networking at in-person occasions.
The quickest rising AEC companies are additionally prioritizing creating content material, search engine optimisation and analyzing the efficiency of their advertising efforts, amongst others that yow will discover within the full report. Perhaps the time is now to check your priorities for the approaching 12 months to these of the excessive progress AEC companies.
A closing thought
Whereas uncertainty about labor shortages, provide chain and laws linger on, the previous 12 months noticed many AEC companies discovering methods to handle the constraints. Becoming a member of the bandwagon that’s the digital transformation has by no means been extra vital.
These AEC companies that use extra digital advertising platforms and strategies, and that additionally use them extra proficiently, are experiencing extra progress and at a quicker tempo. The better sophistication of a agency’s advertising efforts, the better their aggressive benefit shall be.


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By John D. Schultz / www.logisticsmgmt.com / September 20th, 2019
It’s probably a pyrrhic victory, but transport interests recently gained a small victory in President Donald Trump’s growing trade war with China.
The Office of the U.S. Trade Representative recently ruled that 53-foot domestic containers from China have been exempt from the punishing tariff war between the world’s two largest economies.
That’s the containers themselves—not actually what’s in the boxes.
Trucking industry analysts were sanguine about the ruling, basically calling it a drop in the bucket in the waterfall that is becoming the trade war.
“The cardboard box has never been the target of tariffs--it’s the shoes that are in the box that matters,” Donald Broughton, principal of Broughton Capital, which closely tracks the trucking industry.
Besides being virtually unenforceable, any proposed tariff on containers was estimated to have cost the logistics industry upward of $750 million over 10 years.
But exactly who would have paid that tax is unclear. First, containers are virtually indestructible and can last decades. There are no large U.S.-based domestic container manufacturers so the effect of placing tariffs on foreign containers was unclear. And actually finding the containers and their rightful owner would have been a logistical nightmare, experts say.
“Even if you are buying the containers, they’re not staying anywhere,” analyst Broughton told LM.
Broughton said if he owned a company that was subject to a container tariff, he would simply establish what is called a “duty drawback” and re-exported the container to another country.
Meanwhile, effects of the China-U.S tariff war continue to be felt within the domestic trucking and maritime industries and elsewhere. And signs they were having at least some effect on the health of the U.S. economy are abundant.
The Institute of Supply Management key manufacturing indicator, the PMI fell to 49.1% in August (a reading of 50 or higher indicates growth), from 51.2% in July and 59.5% last September. Indexes for employment and new export orders fell even more. Business investment fell 6.1% in the second quarter—the biggest decline since the first quarter of 2011.
Such precipitous drops are not surprising when the world’s two largest economies and trade exporters are tangling over tariffs, experts said.
“China is world’s largest exporter and the United States is second largest,” Broughton explained. “If the world’s second largest economy is hurt because of what we buy from them, that hurts us as well. You hurt your own customers when you hurt your own economy.”
A J.P. Morgan study estimates Trump’s tariffs will cost the average U.S. household $1,000 a year. But that study was done before Trump raised the Sept. 1 and Dec. 15 tariffs to 15% from 10%.
The 15% U.S. taxes apply to about $112 billion of Chinese imports. All told, more than two-thirds of the consumer goods the United States imports from China now face higher taxes. Some 87% of textiles and clothing the United States buys from China and 52% of shoes is now subject to import taxes.
Trump also has threatened that current 25% tariffs on a separate group of $250 billion of Chinese imports will increase to 30% on Oct. 1. At press time, it was unclear whether or when those tariffs would increase after Trump said he was delaying them until mid-October.
On Dec. 15, the Trump administration is scheduled to impose a second round of 15% tariffs — this time on roughly $160 billion of imports. China has indicated that if those duties take effect, it will retaliate with additional tariffs on $75 billion of American goods.
Tentative U.S.-China trade talks were scheduled for late September, but it was unclear at press time whether those would take place. “We’ll see what happens,” Trump told reporters recently. “But we can’t allow China to rip us off anymore as a country.”
“It’s a good thing taking on China. Unfortunately, he’s done it the wrong way,” said AFL-CIO President Richard Trumka said recently on “Fox News Sunday.” Trumka and other officials favor a more multilateral approach to dealing with China.
One country, even with an economy as large as the United States, is incapable of effectively challenging China on its overcapacity because the Chinese have other global options in Asia, Europe and the developing nations of Africa, experts said.
Trump has insisted that China itself pays the tariffs. But that’s as big a whopper as Mexico paying for his border wall. In fact, economists say research has concluded that the costs of the duties fall on U.S. businesses and consumers.
“Tariffs are nothing but a highly regressive tax,” Broughton said.
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Disney has announced a new social media collaboration with the Los Angeles County Museum of Art (LACMA) to retell classic Disney tales in new ways.
“Snapchat Stories” will launch on the @OhMyDisney Snapchat account. Drawing from over 130,000 works in LACMA’s collection, Disney and the museum will use references from pop culture, filters, memes and hand-drawn Snapchat overlays to retell some of Disney’s most iconic stories. The collaboration will continue on a bi-monthly basis.
“LACMA’s intentionally humorous Snapchat account not only has made important artworks from our collection vastly more accessible to new audiences, but it has also allowed us to explore these artworks from new points of view,” said Michael Govan, LACMA CEO and Wallis Annenberg director. “Partnering with Disney, one of the most influential and dynamic storytellers of our time, is a perfect marriage of two Los Angeles institutions that love to engage the public with images.”
The premiere, a retelling of “Beauty and the Beast,” will be featured on the OhMyDisney Snapchat account @OhMyDisney on Oct. 20.
In July 2014, LACMA became the one of the first museums to join Snapchat. Since then, LACMA’s Webby award-winning account has been praised for its commentaries on pop culture. By highlighting artworks from the collection in a playful context, LACMA has generated interest in art history among younger generations.
“Our Snapchat campaign with LACMA opens up new ways for our audiences to experience art and their favorite Disney stories,” said Dan Reynolds, vice president of content and audience development for Disney Consumer Products and Interactive Media. “The LACMA Snapchat account already captures that contemporary and culturally savvy voice and tone that our OhMyDisney Snapchat audience loves, and this collaboration is a natural way to add a little magic to art and storytelling to reach a new generation of art and Disney fans alike.”
LACMA is located at 5905 Wilshire Blvd. For information, call (323)857-6000, or visit www.lacma.org.
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