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Cost Controls Help Hewlett Improve Quarterly Results
Hewlett-Packard reported solid quarterly results yesterday, helped by strong sales in consumer markets and tight cost controls. But the company's executives delivered a cautious outlook for technology spending in the corporate market for computer hardware, software and services. The chief executive, Carleton S. Fiorina, said in a conference call with analysts that she expected corporate spending on information technology to increase by 1 to 2 percent this year. Hewlett-Packard is the second-largest computer company, after I.B.M., and her modest expectations suggested that the recovery in technology spending might be less robust than many analysts expect. Corporate customers, Ms. Fiorina said, have become "more discriminating" in their technology spending habits over the last few years. "And I think that is going to continue," she said, despite an improving economy. Hewlett-Packard reported that its net income rose 30 percent from the comparable quarter a year ago to $936 million, or 30 cents a share, in its first quarter ended in January. Revenue for the quarter rose 9 percent, to $19.5 billion, from the quarter a year ago. After excluding currency gains, the company's sales rose 1 percent. Shares of Hewlett-Packard rose 35 cents to close at $23.89 before it reported its results. Shares were slightly lower in after-hours trading. Hewlett-Packard's quarterly earnings were not a surprise since it had made an advance announcement last Wednesday, after the company's stock price rose, presumably on speculation that the company would report a surprisingly strong quarter. After that announcement, the company's share price retreated a bit. The quarterly results showed Hewlett-Packard making solid progress in its personal computer and corporate computer businesses. The two computer businesses were both sizable though weak when Hewlett-Packard completed its controversial purchase of Compaq Computer in May 2002. During the quarter, the personal computer business grew 20 percent to $6.2 billion, fueled by a 52 percent increase in the shipments of notebook computers, which were particularly strong in the consumer market. The personal computer division reported an operating profit of $62 million for the quarter. "Hewlett-Packard is clearly benefiting from the consumer market," said A. M. Sacconaghi, an analyst for Sanford C. Bernstein. The company's enterprise systems business - server computers, storage systems and software used in corporate data centers - grew 5 percent, to $3.9 billion. More important, the corporate business reported an operating profit of $108 million for the quarter, in contrast to a loss of $82 million in the period a year ago. "We are systematically reducing the cost base of this business," Ms. Fiorina said. The printer business is Hewlett-Packard's financial anchor, representing 30 percent of sales, but 70 percent of the company's operating profits. Revenues from that business increased 6 percent, to $5.9 billion, as its operating profits rose 6 percent, to $968 million. The modest growth rates in the crucial printer business prompted questions from analysts if Dell, which began selling printers made by Lexmark last year, was eating into Hewlett-Packard's market share of more than 50 percent. Ms. Fiorina dismissed the notion that Dell, which sold two million printers last year, poses much of a threat to Hewlett-Packard, which sells one million printers a week. "We continue to be very confident about our position in the printer business," she said. The computer services business grew 6 percent, to $3.2 billion, but its operating profit of $258 million was down from $339 million in the quarter a year ago. The company said it was making investments in services, which reduced profits, but should improve its performance in the long run. But analysts said the decline in services profits was somewhat surprising. "The weakness in services is a cloud," said Mark Stahlman, an analyst for Caris & Company. "The rest of the services sector isn't having the same problem."


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Germany's consumer price index fell 0.3% month-over-month in January.
It's the first time the inflation rate went negative since September 2009.
"Deflation has arrived," Pantheon Macroeconomics' Claus Vistesen said.
Deflation is a very scary phenomenon. When prices fall, consumers and businesses often hold back on purchases hoping for even lower prices. Economic activity seizes and prices continue to fall in a self-reinforcing cycle.
Germany's negative CPI number was largely due to the ongoing plunge in energy prices, which were down 9.9% year-over-year.
But other price are slowing or dropping, too.
"The decline in food prices also accelerated to -1.3% in January from -1.2% in December," Vistesen noted. "Services inflation fell to 1.2% from 1.4% last month and rents declined to 1.3% year-over-year from 1.4% last month."

domain: news


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Flynn Group Acquires 368 Arby’s Restaurants after Chain Shrinks
Flynn Restaurant Group announced last week that it had acquired 368 Arby’s restaurants from franchisee US Beef Corporation for an undisclosed amount. The deal will add an estimated $400 million in sales to Flynn from the newly acquired Arby’s branded restaurants. This makes the firm, already the nation's largest restaurant franchisee, also Arby’s largest franchisee.
The Arby's acquisition brings the multi-branded franchisee of fast casual and casual dining restaurants to a total of $2.3 billion in annual sales. Flynn Restaurant Group’s holdings include Apple American Group, the largest Applebee’s franchisee; Pan American Group LLC, the second largest Panera Bread franchisee; Bell American Group, the third largest Taco Bell franchisee; and now US Beef Corporation, the largest Arby’s franchisee.
Flynn Restaurant Group obviously likes to have a big voice with its franchisors, big enough as one of its top franchisees that if things should become so bad that it leaves, the franchisor would keenly and cripplingly feel the pain.
Greg Flynn, founder of Flynn Restaurant Group and Flynn Properties, is no stranger to business, real estate or franchise leadership. His father owned Burger King restaurants when he grew up. He worked at Goldman Sachs and now serves on an advisory group of its West Street Capital Partners VII, a private equity fund that specializes in buyout and distressed investments. He discovered that buying the right franchise at the right price can be lucrative.
FRG presently has 1,245 restaurants.
Regarding its acquisition, US Beef chairman Jeff Davis said, “When we decided to sell US Beef, it was critical for us to find a true restaurateur with a similar family culture who has a penchant for growth and offered opportunities for our people. Greg Flynn and his company have a stellar reputation for diversified expansion and they ideally fit our criteria for the brand’s growth.”
Robust franchise financials seem to attract big investors
Arby’s produces one of the most transparent franchise-level financial performance disclosures for franchise buyers in the industry.
Is it a coincidence that Flynn seems attracted to a franchisor that stands out in the robustness of its restaurant unit economic disclosures? Indeed, Arby’s strength in revealing unit economic metrics indicates that restaurant margins and money—disclosures by not only the existing franchise that is being acquired, but also by the franchisor for the franchises in the system as a whole—are factors that help drive the interests of major franchise investors such as Flynn.
Granted, Flynn is dealing with a single multiunit franchisee that has its own books and financial numbers; still, Arby’s financials, albeit sometimes murky and confusing in places, is noteworthy. For example, Arby’s is one of the few restaurant chains that reveals EBITDAR for its restaurants in its franchise disclosure document, albeit only for its "affiliate" covered restaurants, that is to say company-owned units.
Earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) is a key financial tool that investors use to measure a business’s bottom-line earnings performance.
Quick service restaurant competitors Domino’s Pizza and Popeyes are other rare big chains that have revealed EBITDAR, the gold standard of franchise-level financial performance. Most franchisors dare not provide such key information.
The good news for Arby’s company-owned restaurants is that their annual EBITDAR margin (EBITDAR÷Revenue) increased from 2013 to 2017, with a drop in 2017 (see chart).
Does the rise of restaurants' bottom lines in covered areas translate to a rise for franchised restaurants?
“It should,” answers consultant John Gordon. Stand alone franchises are not company food court eateries or even 4,000 square foot boxes. “Still, the EBITDAR margin trends that are apparent on such company-owned restaurants should generally track to franchises as well, even though there are obvious differences,” says Gordon. He also points out that a growing EBITDAR margin is still insufficient. It should be pointed out that royalties and franchise fees need to be put back into the franchise costs of EBITDAR to be able to begin to compare these with franchised restaurant performance. Actual EBITDAR earnings need to be sufficiently large in dollar amount to at least cover capital expenditure requirements, debt service and taxes.
Flynn likes best of a niche
One thing Flynn Restaurant Group looks for is uniqueness. That is to say it searches for an almost uncontested brand niche, a best of their market segment. “Standing in a category of its own, the Arby’s brand aligns perfectly with our preference for brands that are truly differentiated and ‘best in breed’ in their segments,” says Flynn.
In the hoagie sandwich sector, which excludes hamburger or other quick service restaurants, or what some analysts just call “sandwich chains,” Arby’s, with almost 3,300 locations, comes in second behind the 25,000-plus Subway sandwich eateries in the United States. Arby’s isn’t quite a Subway sandwich shop, Jimmy John’s or even a Wendy’s hamburger joint. It has its own niche.
The big franchisee investor also zeroes in on smart brand management. “Benefiting from very strong leadership, the Arby’s brand has achieved great momentum these past few years and we are truly excited about the opportunities that lie ahead,” says Flynn of the franchisor, Arby’s Franchisor LLC.
Right before Roark and subsidiary Arby’s Restaurant Group, which later became Inspire Brands, went on a buying binge of brands in 2017, the privately held Arby’s made a rare public announcement. It wanted the world to know that it had turned a troubled system around. It had its magic back.
“Arby’s outperforms industry as first quarter same-store sales grow 1.6 percent,” declared Arby’s press release of April 2017. It quoted Paul Brown, CEO of Arby's: “I’m proud of what we’ve accomplished in the first quarter, and I’m confident that we have the team, the product pipeline and the vision to continue to deliver strong results.”
The industry took notice and passed the message around. This journal heard well-read multiunit franchise owners repeat that same publicly disseminated message that Arby’s was doing well and had turned its franchises around.
After its announcement in the spring of 2017, Arby’s and its parent company, Inspire Brands, went silent about same-restaurant sales. Since then it has gone on a buying spree, buying Buffalo Wild Wings, Rusty Taco and Sonic Burger brands.
However, its latest franchise disclosure document shows that same-store sales have dropped since Arby’s bold announcement. This year competition among quick service restaurant brands has heated up even more.
“I’m not surprised that Arby’s same-store sales are down,” observes John Gordon, restaurant unit economist and principal of Pacific Management Consulting Group. “Ideally, you would like to have same store sales up 2 or 3 percent to at least cover inflation.”
Gordon notes that Arby’s frequent advertisements show how hard it is to bring customers back to restaurants in this environment. “If a chain is not a giant Wendy’s, KFC, Burger King or McDonald’s, it does not have a big enough advertisement fund to make a dent in consumer mindshare to compete,” says the restaurant consultant. Gordon thinks Arby’s is trying hard to stand out from the pack with its James Earl Jones voice of “We have the meats” and its ads that feature comedian H. Jon Benjamin, who points out in the commercials that Arby’s has more than roast beef sandwiches. Benjamin is the voice of Bob Belcher in the animated sitcom Bob’s Burgers.
Arby’s has shrunk in U.S. franchises
Besides same restaurant sales being down, Arby’s in the U.S. is a smaller system in franchise units than it once was. After Arby’s left its troubled merger with Wendy’s in 2011, its franchised restaurant count in the United States peaked one year later at 2,343. That has since trended down (see chart).
Restaurant unit economist Gordon thinks that might be a good thing. “Many of Arby’s restaurant buildings are old and are in need of an upgrade,” he observes. The consultant points out an important trend: the average unit volume of Arby’s restaurants is increasing.
“The average unit volume for Arby’s restaurants is trending higher,” says Gordon (see chart). “Having a few lower volume stores disappear can be a plus for the system.” He elaborates that shrinking location numbers, leaving healthier stores that can upgrade their buildings, is a good development for the system. “When average unit volume of Arby’s restaurants was low a few years ago, its franchisees were not in a position to update their restaurant image,” says Gordon. “They are now.”


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AMC Entertainment (NYSE:AMC) movie theatres may introduce new EV charging stations.
The innovation will introduce the movie theatre giant with a new source of revenue if it decides to move forward.
AMC Entertainment CEO Adam Aron conducted a poll on Twitter asking shareholders what they thought about the idea.
Nearly 22,000 users have voted since the publication of this article with more than 82% voting in favor for the movie theatre chain to introduce EV charging stations at locations.
“With more and more electric powered and hybrid vehicles being sold every day in the U.S., and people often parking their cars at AMC Theatres for about 3 hours, do you think we should install for-pay electric charging stations at our theatres where we control the parking?”
AMC Entertainment recently launched its AMC Perfectly Popcorn brand, available in Walmart stores, and now its branded credit card.
The company is offering moviegoers cash back and other bonuses when they use their AMC credit card for purchases.
If there’s one thing AMC Entertainment has proven to do very well it’s raising capital out of thin air.
Are EV Charging Stations Profitable?
In short, yes.
But like gas stations, the bigger bucks are earned at the convenience stores, which means this may just be a passive source of income for the movie theatre company.
EV-Lectron says there is high demand for EV charging stations, especially in areas where public charging stations are few and far between.
Still, the innovation could be a great way for the company to broaden their income sources and attract an emerging audience, already pro electric vehicles.
But I’m curious to hear your thoughts on this idea.
Do you think AMC Entertainment should introduce new EV charging stations?
Leave your thoughts below.
Related: AMC Entertainment Acquires 9.1% in Stake in National CineMedia
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Smarter Business Ideas gets even smarter with app version
TELSTRA has launched a Small and Medium Business (SMB) magazine Smarter Business Ideas in a new tablet app format.
Group Managing Director for Telstra Business Will Irving said research shows that more than 40% of SMB owners spend a quarter of their time out of the office, and 46% said they are more likely to allow their staff to work remotely with the advent of higher speed mobile broadband.
"Telstra is investing in the comprehensive roll-out of Australia's first national superfast 4G LTE mobile network so it's the perfect time for us to leverage our content across a medium that complements business people's lifestyle," Mr Irving said.
"The magazine features Australian content focusing on the issues, challenges and personal business stories of local enterprise. With the launch of the app, we are putting exclusively Australian material at the fingertips of busy business professionals."
About 15% of Australians already use tablet devices, with predictions this will double to 30% by the end of 2013. Tablet sales are expected to reach 2.37 million by the end of 2012.
Telstra's Smarter Business Ideas magazine, published by ACP Magazines, is also the first business magazine in Australia to launch an app across both the iOS and Android platforms.
The app is free to download and doesn't require a subscription to access the content.
The Smarter Business Ideas app can be downloaded on Apple's iOS platform or the Android Jelly Bean, Ice-cream Sandwich and Honeycomb 3.2+ platforms. Search for "Smarter" in the Google Play or the App store.
Telstra will continue to provide the printed edition of the magazine and include a VIEWA augmented reality app to give readers access to digital content, including videos and product showcases, to download via their smartphones.


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Combat Arms introduces WAR
Nexon Europe introduces WAR, the largest update so far for the successful online first-person shooter Combat Arms, providing more action and new exciting gameplay.
Combat Arms users can already obtain two new updates from WAR in the form of Master Gunner and Treasure Ship. Master Gunner introduces two new weapon modification categories and a plethora of new modifications – allowing players to take their weapons and refine them to deliver more killer blows in combat.
Treasure Ship is a new battleground for players to test their new and improved weaponry from the Master Gunner update. Treasure Ship will require players to storm the ship and use the containers in order to gain a strategic advantage.
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Claims by three “eco-friendly” toilet roll companies about the composition of their products have been called into question after testing by Which?. The consumer champion said it carried out fibre-composition testing on five popular brands, which claim their rolls are “bamboo only” or “100% bamboo”.
Bamboo is a fibre often touted as a green alternative to virgin paper due to its fast growth, although it can be linked to unsustainable uses of pesticides and fertilisers, as well as unsustainable conversion of forests if uncertified. Which? found that samples from Bumboo, Naked Sprout and Bazoo contained very low or low levels of bamboo-like grass fibres – 2.7%, 4% and 26.1% respectively.
Instead, it found that the toilet papers were mainly composed of less eco-friendly fast-growing virgin hardwoods – mostly eucalyptus. Some acacia, which has been linked with deforestation in countries like Indonesia, were also found in Bazoo and Bumboo’s paper.
However, the two other brands – Who Gives a Crap (WGAC) and The Cheeky Panda – were shown to contain 100% bamboo as claimed. Emily Seymour, Which? sustainability editor, said: “Given so many shoppers are taking steps to be more sustainable, it’s vital they can trust claims made by brands – particularly when they are paying more for a product they believe is better for the environment.
“Businesses must take responsibility for ensuring their products contain what they say on the packaging so that shoppers who want to make sustainable choices can trust the information they are given.”
Which? said its testing was done at an independent lab using an industry-standard test from the Technical Association of the Pulp and Paper Industry (TAPPI), known as T 401, which breaks down a sample of paper into its constituent fibres to quantify and identify them.
While the consumer watchdog did not assess brands’ supply chains, it said the test findings highlight the challenges UK firms face to ensure quality control when materials for their products are sourced thousands of miles away. Bumboo, Bazoo and Naked Sprout, which all source their bamboo material from China, said they use bamboo certified by the Forest Stewardship Council (FSC) – an international non-profit that certifies responsibly-managed timber supply chains.
A spokesperson for Bumboo said it “had identified an issue in (its) supply chain and taken swift action so this can never happen again”.
“Any affected customers have been contacted and we are increasing our fibre testing, so every batch is independently verified,” they added. This will provide complete transparency that all future products are 100% bamboo.”
The brand said it was now using the “gold standard” TAPPI T 401 test to verify the fibre composition of every batch and publishing the results on its website.
Meanwhile, Bazoo said it undergoes extensive auditing with the FSC every six months since it started trading. "It was very important to us and integral to find a bamboo supplier and manufacturer who was 100% FSC certified,” a spokesperson said.
The firm added it is investigating currently with the FSC body and its manufacturer in depth after the Which? findings. Naked Sprout claims it is selling the “UK’s most sustainable tissue products”, but Which? said this claim is largely based on its fossil-free B Corp-certified manufacturing, meaning it meets high social and environmental standards.
The brand said that the bamboo pulp it uses is verified by a strict audit trail, also used by the FSC, of its supply chain and raw materials.
It said its supply chain is deliberately small, consisting of only four suppliers and one manufacturer. As a result, all materials used are FSC-certified and fully traceable from raw material to end product, the firm added.
Naked Sprout also claimed there were limitations with TAPPI T 401 and disputed the objectivity and validity of the test method. But Which? said the test is a globally-recognised industry benchmark, adding it believes the clear results leave little room for doubt.
TAPPI said it saw no contradictions in Which?’s application of the test method, adding that it “seems disingenuous” to suggest that a test method applied successfully to other brands tested for this article would be inadequate for Naked Sprout. The FSC said it was “concerned” by the Which? test results and had alerted its supply chain integrity team.
An FSC spokesperson said: “We take our integrity seriously and are committed to working with the organisations involved to ensure this is fully investigated and any appropriate action taken to ensure FSC labels accurately reflect the composition of FSC-certified products.”


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Despite the strong blow to the Russian economy because of the collapse in oil prices and pandemics, the production figures do not show the worst results. “During four months we have kept the level of last year”, – said Manturov deputies. Russia, he said, failed to promptly deploy additional capacity. The Minister, in particular, said that Russia is four times cheaper mask – the price was knocked down from 55 rubles to 13. This happened due to the fact that since the beginning of March increased their production by 5 times, almost to 9 million pieces a day.
For the three months of the pandemic, it became clear that “the trading system is debugged and works,” also said Manturov. Shopping online around the clock supported a two-month stock. “As a result we were able to meet practically all requests of the buyers, not allowing any abrupt rise in prices, no shortage, unlike other countries,” – said the head of Ministry of industry and trade.
Despite the March, the excitement, the grocery trade in the course of the pandemic showed minus 9%. Now the situation is getting better, “has finally earned non-food retail”. And stocks at retailers for more than four weeks. “But we need to continue to develop the principles of multi-format trade, – said Manturov, noting that it is the task of the meeting of the Russian President. – Primarily due to the development of non-stationary mobile trading and markets.”
shoppers in the course of the pandemic was to large supermarkets and small forms of trade have suffered the most. “Coronavirus ends – means, people should have a choice where to buy their products,” – said the Minister. And here we need the assistance of deputies – it is necessary to promptly consider the bill on the support of non-stationary trade. It was submitted to the Duma by the Russian government in 2018. As explained by the speaker of the state Duma Vyacheslav Volodin, the consideration of the bill was deferred after consultation with the government and Federation Council. Now the amendments are expected from the Cabinet. In the state Duma will create a working group to finalize the document. “Let’s try to consider during the spring session,” – said the speaker.


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PORTLAND, Ore. (AP) — Starbucks Corp. brewed up a strong second quarter but warned investors that rising costs for fuel and dairy are a bigger problem than it anticipated for the year.
The coffee giant's shares fell in after-hours trading Wednesday on the news.
Starbucks said its net income jumped 20 percent to $261.6 million, or 34 cents per share, for the quarter. That's up from $217.3 million, or 28 cents per share, earned in the same quarter last year.
Revenue rose nearly 10 percent to $2.79 billion, as it took over its consumer products business and more customers visited its stores.
The results met analyst's profit expectations and beat their $2.73 billion revenue estimate, according to FactSet.
Starbucks had a notable quarter as it expanded its single-cup coffee business, sold its ready-to-drink products in more places and took its packaged coffee business in-house after ending a distribution agreement with Kraft Foods Inc.
The company's revenue rose in the U.S. by 6 percent, internationally by 15 percent and in global consumer products by 30 percent.
CEO Howard Schultz said on a conference call with investors Wednesday that the results are particularly gratifying, given the "formidable economic and operating headwinds that continue to confront global businesses."
Starbucks said the underlying health of its business has never been better, and strong sales, customer traffic and satisfaction trends during the period led it to raise its full-year forecast
The company now expects to earn $1.46 to $1.48 per share for the year, up from $1.44 to $1.47 per share. But that's just short of Wall Street's average forecast for $1.49 per share.
Investors weren't pleased with the outlook and sent shares down 64 cents to $36.55 in after-hours trading. They had risen 59 cents, or 1.6 percent, to end regular trading at $37.19.
Starbucks said commodity cost increases are bigger than previously anticipated and will cut its earnings for the year by 22 cents, rather than the 20 cents per share it estimated in January. Starbucks is one of many food and beverage companies coping with higher costs for fuel, dairy, coffee and other goods.
Starbucks leaders said commodity price increases show no sign of abating soon, but they remained confident in the company's future.
"Our business has remained resilient in the face of these pressures, maintaining the momentum of the last two years and cementing a solid foundation from which to profitably grow," said Troy Alstead, chief financial officer for Starbucks.


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Network security vendor SmoothWall is hailing its revamped channel strategy a success after signing more than 40 resellers in the first two months.
The vendor, which launched its new partner programme in August (CRN, 1 August), is targeting an additional 150 resellers across Europe with the aim of doubling its partner base by the end of next year.
George Lungley, managing director of SmoothWall, said the firm has seen a “marked increase” in the number and size of partners coming forward.
“The larger resellers asking to partner with us are taking our products on as a second offering, rather than looking to sell it as their sole product. They have customers that don’t want to pay the higher prices charged by companies such as Check Point, and we can offer more value for money.”
Lungley added the firm is still on the lookout for more UK partners, but is sticking with the single-tier model.
Steve Newcombe, managing director of SmoothWall partner PCS, said his firm has been working with the vendor for almost five years.
“We were happy with the partner programme, and the products give us the flexibility to do what the customer wants us to do,” he said.
Newcombe said the firm has seen success in the healthcare market recently, but the vendor’s products appeal to firms “across the board”.
Infrastructure provider says international sales now make up 51 per cent of its revenue
Suzanne Chappell of TMS plans sailing venture after selling Oxfordshire-based TMS to acquisitive Chess
Withdrawal of credit insurance by some providers a 'reflection' of current challenge facing IT sector, according to MD Steve Soper
SMART's UK managing director joins Lenovo to boost SMB business


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Singtel and Ericsson achieve Southeast Asia first with fastest download speeds of 5.4Gbps on 5G standalone New Radio-Dual Connectivity
Ericsson (NASDAQ: ERIC) and Singtel have made a technology breakthrough in 5G standalone (SA) New Radio-Dual Connectivity (NR-DC), becoming the first in South East Asia to reach download speeds of 5.4Gbps by aggregating Singtel’s spectrum holdings across mid-band spectrum 3.5GHz and 28GHz mmWave. This milestone was achieved in a demo with Ericsson’s 5G radio access network products and solutions and cloud-native dual-mode 5G Core network solutions, as well as a test device from Qualcomm Technologies powered by its Snapdragon X65 5G Modem-RF System.
5G SA NR-DC technology, which combines mid-band and mmWave frequencies, further enhances Singtel’s 5G SA speed and capacity to enable high-performance and latency-sensitive applications, and stimulate innovative new use cases across business, industry and consumer ecosystems. Applications can range from cloud gaming, immersive media, AR, VR, XR to autonomous vehicles or robotic control. This new development will push the boundaries of 5G technology, combining different frequency bands across the networks, to fully utilize Singtel’s 5G assets for an enhanced user experience.
Mark Chong, Singtel’s Group Chief Technology Officer, said, “This 5G breakthrough demonstrates our commitment to continually innovate and maximise the potential of what this developing technology can deliver. The increased speeds will help pave the way for many new applications as we look to drive transformative benefits for consumers and businesses.”
As one of the first 5G SA networks deployed globally, the future implementation of 5G SA dual connectivity in Singapore will help accelerate the adoption of 5G for both consumers and enterprises, create new business opportunities, strengthen the local 5G ecosystem, as well as drive the future-readiness of Singtel’s network. This achievement closely follows the latest win at the Asia Communications Award, where Ericsson and Singtel were jointly recognised for 5G deployment in Singapore.
Martin Wiktorin, Head of Ericsson Singapore, Brunei and Philippines, said: “At Ericsson, we have already deployed over 100 live 5G networks worldwide, building a strategy around multi-layer networks from low, mid-band to high-band 5G. In Singapore, we are constantly driving technology innovations together with Singtel. As 5G front runners, we strive to expand the potential of limitless connectivity, and further enhance digital transformation to benefit industries, consumers and societies.”
This new 5G technology breakthrough builds on the strong collaboration between Ericsson and Singtel over the past 30 years as technology front runners in Singapore. Past milestones include achieving Singapore’s fastest 5G speeds of 3.2 Gbps at Singtel’s unmanned pop-up retail store UNBOXED as well as Singtel’s GENIE, the world’s first portable 5G-in-a-box platform powered by Ericsson to enable enterprises to experience 5G’s capabilities and trial use cases in their own premises.
Senior Manager, External Communications, Ericsson
Mobile: +65 8940 7198
Director, Group Strategic Communications and Brand
Mobile: +65 8876 1753
NOTES TO EDITORS:
Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans the business areas Networks, Digital Services, Managed Services and Emerging Business. It is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s innovation investments have delivered the benefits of mobility and mobile broadband to billions of people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com
Singtel is Asia's leading communications technology group, providing a portfolio of services from next-generation communication, 5G and technology services to infotainment to both consumers and businesses. The Group has presence in Asia, Australia and Africa and reaches over 750 million mobile customers in 21 countries. Its infrastructure and technology services for businesses span 21 countries, with more than 428 direct points of presence in 362 cities.
For consumers, Singtel delivers a complete and integrated suite of services, including mobile, broadband and TV. For businesses, Singtel offers a complementary array of workforce mobility solutions, data hosting, cloud, network infrastructure, analytics and cyber security capabilities.
Singtel is dedicated to continuous innovation, harnessing next-generation technologies to create new and exciting customer experiences as we shape a more sustainable, digital future.
For more information, visit www.singtel.com.
Follow us on Twitter at www.twitter.com/SingtelNews.


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Jari Arkko, Ericsson Expert in Internet Architecture, will take over the chairmanship of the Internet Engineering Task Force (IETF), the organisation has announced. Arkko's two-year term will begin when current chairman Russ Housley steps down in March.
A new network architecture for the internet needs ingredients from three approaches: information- centric networking, cloud computing integrated with networking, and open connectivity. To support these concepts, open connectivity services need to provide advanced transport and networking mechanisms.
Even simple, low-tech everyday objects can be given a digital dimension. Smart products could be a radical game changer for all kinds of businesses, introducing usage-data-driven product development and marketing.
In this Ericsson Tech Talk, Eva Fogelström, who is heading up the Security group at Ericsson Research, talks about the importance of Security for the Internet of Things. When more than 50 billion devices connect it is essential that we can trust the interactions between devices and networks.
Internet use has more than quadrupled in the last eight years according to a study by Ericsson ConsumerLab. The Infographs below show that even as we spend more and more time surfing the net with our laptops, smartphones and tablets we still spend a lot of time with family and friends. And with a lot of online time being spent on social networks we are in fact becoming more social.
More than 80 journalists from thirty countries visited Ericsson’s third annual Business Innovation Forum, held May 10-11 in Silicon Valley, California. Ten speakers with diverse backgrounds – ranging from a firefighter to a venture capitalist – joined Ericsson executives and specialists for an agenda that touched on all aspects of the Networked Society and its potential to improve the lives of people, business, and society.


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The twelfth round of negotiations for the UK-India Free Trade Agreement FTA took place from the 8-31 August, 2023. As with previous rounds, this was conducted in a hybrid fashion – a number of UK officials travelled to Delhi for negotiations and others attended virtually.
On 24-25 August, 2023 India hosted the G20 Trade and Investment Ministerial Meeting in Jaipur. The Rt Hon Kemi Badenoch MP, the Secretary of State for Business and Trade visited India for the meeting and met with the Honourable Minister for Commerce and Industry, Government of India, Piyush Goyal. They took stock of the Free Trade Agreement FTA and agreed ways to progress the negotiations.
The thirteenth round of negotiations is due to take place in September.


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Mark your calendars: Opera announces DS browser release date in Japan
Oslo, Norway and Tokyo - June 21, 2006
Opera Software today announced that the Opera Web browser for Nintendo DS will be released in Japan on July 24. The DS browser will initially be sold online only at a price of 3,800 yen, and come with an additional memory expansion pack. Nintendo has not yet announced product release dates for the U.S. and Europe. More details about the Opera browser for Nintendo DS will be unveiled on July 24.
Find out more:
About Opera Software ASA
Opera Software crafts products and services that connect 350 million people to the internet. More than 130 operators around the world choose to work with us to give their customers the best web experience. Our mobile advertising platform enables publishers to monetize their content and allows brands to reach a global audience of more than 800 million consumers. Learn more about Opera at www.opera.com, or follow Opera on Facebook, Twitter and blogs.opera.com.
Opera is a trademark of Opera Software ASA.


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The $23,000 diamond engagement ring that was stolen from a home in the 1800 block of Pin Oak Court this week was taken to a Manteca recycling store, according to family member Nathan Gori.
Gori is the son-in-law of the victim whose house Manteca Police believe was burglarized by two individuals who entered through a second story window around noon Monday and took numerous electronic items including laptops, cameras, expensive jewelry, shoes and purses.
The resident said it appeared the thieves had climbed up on a patio awning to gain access to the second floor of the home unnoticed by neighbors.
Gori said the 16-year-old female suspect claimed she took the ring to a particular recycling store in town, adding that when family members visited the shop the clerks said they knew nothing about a ring or other jewelry.
Police community officer Lisa Lewis, investigating the break-in, followed shoe prints from the back fence of the home along a muddy trail in an adjoining field that led to another residence two homes away. In talking to the girl’s parents officers were given permission to look inside the house as the young girl and her brother drove into the garage.
Investigators said when they popped open the trunk they found a jewelry box with the least expensive jewelry inside, but not the more expensive items they were hoping to locate. The electronic games that had been stolen had been returned to a game shop in Manteca in exchange for gift cards, police said. The gift cards were turned over to the family.
The family is still missing quite a few items other than those found in the trunk of the car, Gori said. Those valuables include a Mini HP laptop valued at about $400, a yellow Dell laptop computer worth some $800, a black Acer Touchpad costing about $400, a diamond tear drop necklace valued at $1,200, a mother’s ring with two stones $300, along with a Kodak video recorder, a Nikon Cool Pix digital camera, a Blackberry, two iPods, two X-box controllers, a $1,200 pendant and a diamond-encrusted bracelet.
The son-in-law noted that the officers recovered four pairs of Jordon athletic shoes, a Nintendo DS, two Coach purses and a Nine West purse.
The teenager was taken to juvenile hall in French Camp, police said. The investigation is continuing in the case, officers said.
Manteca Crime Stoppers is offering up to a $1,000 reward for information in the case leading to the return of the $23,000 ring and the other missing items along with information leading to the arrest of the second person involved in the crime. To call anonymously and be eligible for the reward, call Crime Stoppers at 823-4636.


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Sony Interactive Entertainment has today announced that its PlayStation VR (PSVR head-mounted display) PlayStation Camera Bundle will be available at a new RRP of 34,980 yen, $299 USD and €299/£259.99 down from the currently available price of 44,980 yen, $399 USD and €399/£349.99 respectively starting March 29th, 2018. To put in perspective, the Oculus Rift with Touch controllers and sensors currently ships at £399.99 but does require a reasonably competent PC to run it.
Since the PSVR launched back in October 2016 there are now approximately 300 PSVR software titles and experiences available for the device. PS VR will continue to expand with highly anticipated launches on their way including Blood & Truth, WipEout Omega Collection and Firewall Zero Hour (SIE WWS), The Persistence (Firesprite Ltd), Star Child (Playful Corp), Eden Tomorrow (Soul Pix), Rick and Morty: Virtual Rick-ality (Adult Swim Games) and Smash Hit Plunder (Triangular Pixels) in addition to VR experiences such as Virry Safari: Wild Encounters (Fountain Digital) and CoolpaintrVR (Sngular). With the attractive new price point, SIE will further expand the PS VR platform along with the great line-up of exciting VR games and revolutionary experiences, delivering PlayStation® as the best place to play to users worldwide.


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Posted by News Express | 7 November 2019 | 1,472 times
Pan African financial institution, United Bank for Africa (UBA) Plc, and the global airline, British Airways, have announced a collaboration to reward loyal customers who are cardholders of the bank.
The promo which will last for six months from November 2019, will witness UBA customers getting significant discounts when they purchase their British Airways tickets using their UBA cards. The promo will allow customers to enjoy up between 10% to 15% discount on any ticket purchased during the campaign. The ticket fare is exclusive of taxes as is applicable to purchases of all goods and services.
The collaboration is aimed at increasing customer experience and satisfaction for both UBA Cardholders and customers of British Airways.
The General Manager, Corporate Bank, UBA Directorate, Mr Muyiwa Akinyemi, who expressed delight at the collaboration sealed on Tuesday, noted that the promo between the two organisations was carefully thought out to ensure that loyal customers of the two institutions are duly rewarded, while ensuring that they also receive more value for their money. He added that for persons without a UBA account, all they require to benefit from this promo is to procure a card instantly from any UBA branch nationwide.
“UBA is excited to collaborate with one of the foremost Airlines in the world to run a promotion aimed at rewarding our cardholders and premium customers who will enjoy discounted tickets and other ancillary benefits such as loyalty points on the British Airways Executive Club,” Akinyemi said.
He explained that as a customer-centric institution, UBA is always on the look-out for services and reward schemes that will ultimately benefit the customers, in line with its Customer 1st policy.
Akinyemi noted that the bank has plans to partner with other airlines in future to provide further opportunities of reducing cost of travel for its customers. “For now, we are partnering with a pre-eminent airline that offers class and distinction,” he said.
The Commercial Manager for British Airways in West Africa, Mr Kola Olayinka, noted that the airline is pleased to partner with the bank due to its huge customer base and wide reach, adding that with the partnership, more customers will be able to enjoy the promo.
He said, “British Airways is excited to partner with UBA, Africa’s Global Bank, to create a mind-blowing promotion aimed at raising awareness about this service to be rendered by both institutions.”
Continuing, Kola said: “In addition, the discounts provided by British Airways will reduce the cost of travel and encourage the Bank’s customers to make more foreign trips during the period and also reward their customers and staff as a way of giving them something very tangible.”
•PHOTO: L-R: Head, Aviation, United Bank for Africa(UBA )Plc, Mr. Bode Aregbesola; General Manager, Corporate Bank, UBA Plc, Mr. Muyiwa Akinyemi; and Regional Commercial Manager, West Africa, British Airways(BA), Mr. Kola Olayinka; and Sales Manager, New Business Nigeria, British Airways, Mrs Peju Diya, signing collaboration agreement between UBA and BA, to reward customers who purchase their flights tickets using UBA cards with discount up to 15%, in Lagos, on Tuesday.
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“I always wanted to open my own Chicago-style restaurant, but then I had the idea to do a joint venture,” said owner Ricky Ortiz. “I threw the idea to Jimmy and Maria Tingas at Wrigleyville and they thought it was perfect.”
Ortiz recently launched the food truck, a preview of things to come at his future downtown food truck park 88 Social. The food truck's menu has yet to be finalized, but it currently offers a selection of hot dogs, including Chicago-style and Italian and Polish sausage options, as well as gyros, sides and drinks.
Ortiz, along with partner and operations manager Efrain Garcia, are excited to offer more late-night options for the St. Mary’s Strip crowds.
“For now, we’re here for the dinner crowd and bar scene,” he added. “We plan to be at Paper Tiger until 88 Social opens in early spring.”
The food truck is located at Paper Tiger and runs from 6 p.m. to 3 a.m., Tuesday through Sunday.


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New York – RadioShack will open a 1960s-themed store in Midtown Manhattan on Saturday, the second of its “custom concept” formats in the country
Barrington, Ill. – The Home Technology Specialists of America (HTSA) said it “is poised for further growth and an influential new year,” supported
Bentonville, Ark. – Walmart said comp sales at its flagship discount stores and Sam’s Club wholesale chain were down slightly for the fourth quarter,
New York – Dealers and their buying group representatives are giving a big thumbs-down on a possible Kindle-based checkout system reportedly developed by
Updated Seattle – Amazon.com reported a 146.4 percent spike in its fourth-quarter net income, to $239 million, and a full-year profit of $274
Indianapolis — hhgregg said steep holiday promotions and a lack of channel discipline within the CE industry led to falling profits and sales during its third
New York — On the afternoon before the Super Bowl, Harman, sponsor of the NFL Alumni Association and Pro Football Hall of Fame, is hosting Super Bowl-winning
The Woodlands, Texas – Conn’s has opened four more HomePlus locations, bringing its store count up to 80.
Two of the stores are located in the
Tarzana, Calif. — Mike Pontelle, a 50-year veteran of the consumer electronics industry, passed away on Jan. 22 in Woodland Hills, Calif., at the age of 70.
Fort Worth, Texas – RadioShack has replaced its eight-month-old “Let’s Play” branding campaign with a new theme that
By Lisa Johnston
New products on display at the American International Toy Fair, held in N
New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Los Angeles — Fifteen industry leaders were inducted into the Consumer Electronics Hall of
If you are having trouble accessing TWICE content or wish to subscribe to TWICE Online please email firstname.lastname@example.org or call 866-71-PRESS (866-717-7377).


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After years of being the singular most influential driving force in the computing industry, Steve Jobs resigned today from his post as CEO of Apple Inc. and recommended Tim Cook as his successor.
Mr. Jobs published this letter to Apple:
I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.
I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.
As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.
I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.
I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.
According to a Press Release from Apple, Steve Jobs request to act as Chairman of the Board has been approved and Tim Cook has indeed been named as the new CEO.
“It’s not the end of the Apple era for certain…but in many respects, it is an end of an era,” said Other World Computing founder and CEO, Larry O’Connor, upon hearing the news. “However, if anyone thinks that, based on this announcement, Mr. Jobs will have any less influence on products, I find that outcome highly unlikely.”
From all of us here at OWC, thanks for the memories, the inspiration, and the journey Steve…it’s been an insanely great ride.
Steve Jobs Resigns as CEO of Apple
Tim Cook Named CEO and Jobs Elected Chairman of the Board
CUPERTINO, Calif.–(BUSINESS WIRE)–Apple’s Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.
“Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration. Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” said Art Levinson, Chairman of Genentech, on behalf of Apple’s Board.
“The Board has complete confidence that Tim is the right person to be our next CEO,” added Levinson. “Tim’s 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.”
Jobs submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.
As COO, Cook was previously responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also headed Apple’s Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.
Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.


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It was just six months ago when we saw a silver-plated BMW M3 which in a way has shocked us. Most of you disagreed with the chrome look and we don’t blame you. But a few days ago, one of our readers sent in some photos of another BMW M3, this time the E46 chassis, sporting a chrome paint.
And…we kinda dig it, especially since the “paint job” seems to be of a higher quality. Also, the gray color looks far better than the gold plated M5 spotted in Moscow recently. According to our friends at Automarket, the owner of this M3 is a huge BMW fan and had no problem spending over $12,000 to “chrome out” his M3.
Beside the paint job, the M3’s owner also spent a few thousand dollars on a custom Hamann exhaust system.
Now beside the paint job, we still love the fact that the E46 M3 looks as fresh and classy, as 7-8 years ago. It’s one of these cars that don’t age fast and that’s something that BMW should be proud of.


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CHERRY HILL, N.J., May 12, 2011 /PRNewswire/ -- Subaru of America has announced that Bill Cyphers has been named sr. vice president, sales. Cyphers is a seasoned member of the SOA executive team and has held a number of executive positions at Subaru. Most recently Cyphers was the regional vice president at SOA's Eastern Region. Prior to that Cyphers held separate vice president positions in sales, sales operations, marketing, distributor operations, and other regional locations. Cyphers began his career with Subaru in 1984. Prior to Subaru, Cyphers worked for the Ford Motor Company and is a graduate of Michigan State University.
In a related move, Mike Hafertepe moves from regional vice president, Central Region to replace Cyphers as regional vice president, Eastern Region. Hafertepe has been with Subaru for over ten years and was previously at Nissan. The open point for VP, Central Region will be filled shortly.
Also, Jeff Walters is promoted to vice president, field & distributor operations, reporting to Bill Cyphers. Most recently Walters was director, field & distributor operations and prior to that was a regional sales manager in Atlanta for SOA. Walters has worked in sales and marketing for Subaru since 1992. He began his career with Subaru as a management associate and holds an MBA from Indiana University and a BS from the University of Michigan.
Tom Doll, Executive Vice President, SOA said, "There's no doubt our success has shone a light on our people and while turnover is a natural part of any business it is sometimes more so when you are a successful one. We are aware of this, and we have a strategic plan to manage our employee base, and as well as develop our internal talent. It is because of that strategic planning that we have good bench strength within the SOA Sales organization and so we were able to act quickly to make this latest reorganization.
"Looking forward, our brand remains strong and in an excellent place in the market and these new appointments will help us remain focused on the continuing success of the all-new Impreza debut as well as our FYE 2012 opportunities."
About Subaru of America, Inc.
Subaru of America, Inc. is a wholly owned subsidiary of Fuji Heavy Industries Ltd. of Japan. Headquartered in Cherry Hill, N.J., the company markets and distributes Subaru Symmetrical All-Wheel Drive vehicles, parts and accessories through a network of more than 600 dealers across the United States. Subaru boasts the most fuel efficient line-up of all-wheel drive products sold in the market today based on Environmental Protection Agency (EPA) fuel economy standards. All Subaru products are manufactured in zero-landfill production plants and Subaru of Indiana Automotive Inc. is the only U.S. automobile production plant to be designated a backyard wildlife habitat by the National Wildlife Federation. For additional information visit www.subaru.com.
Subaru of America, Inc.
Subaru of America, Inc.
SOURCE Subaru of America, Inc.


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(WINDSOR, ON) – Demonstrators from PETA were on hand in Windsor today to bring awareness to the plight of coyotes and Canada Geese. The seemingly disparate animals are tired together in the products of down coat manufacturer Canada Goose.
The company, according to PETA, is responsible for the unnecessary cruelty to coyotes who are leg-hold trapped for their fur while mistreating geese to harvest down for the coats.
“From geese who were trampled and suffocated to coyotes who struggle in traps until trappers strangle, shoot, stomp on, or bludgeon them to death, a fur-and-down coat is a spectacle of suffering,” said Tracy Reiman, executive vice president with PETA. “PETA is calling on shoppers to reject Canada Goose’s cruelty and shop vegan.”
On the company website, Canada Goose says it ethically sources the animal products that go into their garments.
“We understand and respect that some people think animal products should never be used in any consumer products, however we do not share that view,” Canada Goose says. “We are committed to providing full transparency about how we make our products, including the ethical sourcing and responsible use of animal products.”
In addition to the usual activists carrying signs, the PETA demonstration, at University Avenue and Ouellette Avenue, included the presence of two dead “geese” and a body-painted “coyote” caught in a bloody trap.
In place of using animals in the manufacture of clothing, PETA suggests that cruelty-free synthetic apparel is a better choice and better product.


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BOISE, Idaho -- Albertsons here is testing in-aisle sections featuring products exclusively from Israel.
The sections are currently in a handful of stores in South Florida, although the chain hopes to bring them to about 200 units in the near future, Yakov Yarmove, the chain's corporate kosher category manager, told SN at the Kosherfest food show in New York last week.
"This is something we're excited about, and plan to roll out strongly," Yarmove said.
Ranging in size from four to 12 feet, the sections are located in the ethnic food aisle, adjacent to kosher foods. Between 50 and 60 stockkeeping units of authentic Israeli foods and beverages are available.
Yarmove said filling the sections is challenging because each selection must meet U.S. packaging regulations, ranging from nutrition-fact labels to Universal Product Codes.


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Sony has announced a new PlayStation Plus promotion that is offering new subscribers a free copy of Rainbow Six Siege when they commit to a 12-month subscription.
To be eligible for this promotion, PlayStation 4 owners must have never had an active PlayStation Plus subscription beyond the 14-day free trial that is offered. Simply head on over to the PlayStation Store before March 3rd to subscribe.
PS Plus Promotion: Buy 12 months of PS Plus, get Rainbow Six Siege free.
— PlayStation (@PlayStation) February 20, 2019
Earlier this week, Ubisoft officially unveiled the game’s newest Operators from Australia: Gridlock and Mozzie. Gridlock is an attacker who deploys Trax Stingers, which is a row of spikes that damages players over time after walking over them. While Mozzie is a defender who has access to the Pest dart, which allows him to hack enemy camera drones and use them. Both Operators will be introduced as part of the Operation Burn Horizon update.
Ubisoft also laid out its plans for Siege in its forth year, including eight new Operators, a new map called Outback, three map reworks, four mid-season events, Operator balance changes, and more.
Rainbow Six Siege is available now on Xbox One, PlayStation 4, and PC.


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Apple will unveil a revised iPad featuring 4G connectivity alongside a new Mini tablet later this month, several reports have claimed.
However the rumoured smaller 7.85-inch device, set to be unveiled on October 17th, will feature wi-fi only to help keep its retail price to a minimum.
Many critics believe tech fans will be disappointed with the yet-to-be-confirmed news, with iPad blogger Andrew Dodson claiming it would ‘be a big blow to commuters who were hoping for a tablet with 4G LTE connectivity so they could surf the web and download music and books while on-the-go’.
According to the Guardian, one well-placed industry source has said they ‘do not expect to see 3G-capable versions of the iPad Mini’ at the event.
However Apple fans will be pleased to learn that a revised version of its popular 9.7in model, compatible with the soon-to-be-launched 4G network on EE, also looks set to be unveiled.
Apple is expected to send out invitations for the media event over the next few days, with the new devices set to go on sale on November 2.
It was reported last week that Apple had ordered 10m of the Mini devices from its supplier – indicating it expects its newest product to fly off the shelves.
Earlier this week Australian writer Sonny Dickson also tweeted a picture of what he claimed to be the new Mini.
Apple is keen to strengthen its grip on the tablet market and hopes a smaller device can challenge cheaper market alternatives such as Amazon’s Kindle Fire series.
Amazon will launch an updated version of its Kindle Fire, currently on sale in the US, internationally on October 25th.
Microsoft will unveil its new Surface tablet a day later on October 26th.


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Minecraft has announced it will be banning the use of NFTs and blockchain technology on its servers. The highly popular sandbox game also seeks to prevent the creation of NFT projects based on its assets.
Mojang, Minecraft’s creator, has justified the decision by stating that NFTs are not inclusive of its full community. The bans are being met with mixed feelings on social media:
Mojang Goes It Alone
Mojang, the developer behind the hit video game Minecraft, seems to have little interest in allowing its property to operate in conjunction with independent NFT projects.
Blockchain technology on independent game servers (operated by fans and creators) that utilise any aspect of Minecraft imagery to create NFT projects will be prohibited. The notice issued by Minecraft claims that the decision was made based on ensuring players would “have a safe and inclusive experience”.
The speculative pricing and investment mentality around NFTs takes the focus away from playing the game and encourages profiteering, which we think is inconsistent with the long-term joy and success of our players”
However, NFT Worlds, a Web3 gaming project specifically focused on third-party blockchain and NFT Minecraft integrations, has made the bold statement that it won’t be leaving. The announcement has caused prices for the project’s NFTs to plummet by 70 percent, and its native token (WRLD) to also drop by 65 percent. Regardless, it seems the developers have no intention of leaving the community:
However, Mojang has not definitively ruled out blockchain tech for its future, stating that it plans to monitor the evolution of the space.
Initial NFT and Web3 Integration
Last year saw Minecraft introduce NFTs to the game, permitting players to collect in-game digital assets which then granted them access to special quests and other benefits. The NFTs were to be powered by a project called Enjin (ENJ), which allowed digital assets to be stored on the blockchain. Players were then required to scan a QR code which transferred the NFT automatically to their Enjin. The wallet could then be linked to the cross-platform gaming network MyMetaVerse.
Then, in March 2022, the game decided to make the move into Web3. ‘NFT Worlds’ was set to be the blockchain layer added to third-party Minecraft servers, alongside a Polygon-based overlay and an Ethereum sidechain offering gas-free transactions. The announcement drew an overwhelmingly positive reaction across social media at the time.
The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.


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Formula One can be a contradiction — it is cutting-edge on the track, but a marketing anachronism off it. However 2017 is the year when the speed of change off the track may outpace the cars on it.
New owner Liberty Media has bought the commercial rights to the sport for a sizable chunk of change, US$8 billion to be exact, and has started detailing where it sees the chance to make good on that investment.
The new management team of chief executive Chase Carey and managing director of commercial operations Sean Bratches have outlined clear plans to revolutionise the way the sport is marketed and experienced. Carey has spoken about creating ’21 Super Bowls’, while Bratches has laid out four priorities, including refreshing the F1 brand, embracing digital channels, democratising decision-making and re-imagining the race experience.
There is no doubt that there are plenty of players in F1 that will find change hard when many teams and sponsors have been following the same rules for such a long time. But equally this is music to the ears of many people in F1, who have been arguing for years that the controlled and conservative commercial model it had pursued was causing F1 to fall behind in the race for consumers’ attention.
The new model is looking to build and market the F1 brand — not just the sport. One of the most exciting implications of this is F1 sponsorship becoming more attractive to consumer brands. It’s no coincidence that many current sponsors are B2B brands. With a creative lens on it, F1 can open up huge consumer marketing opportunities.
Another item that will no doubt be right on top of the new American owners’ agenda will be breaking into the US — the toughest and most domestically saturated sports market on the planet — but also the one with the greatest growth opportunity.
The new model is looking to build and market the F1 brand — not just the sport. One of the most exciting implications of this is F1 sponsorship becoming more attractive to consumer brands.
As Bratches has said: “Having the theatre of Formula One in the backdrop of iconic US cities could be very attractive.” It’s not hard to see why. For F1 to call itself truly global, and to reverse a downward sponsorship income from US$950 million in 2011 to US$750 million in 2015, it must become more than a niche sport in the world’s biggest media market, with the vast eyeballs, engagement and sponsorship dollars that entails.
Even though it is still largely viewed as an unknown curiosity, F1 is associated with a mixture of cutting-edge technology and old world European glamour, which is not a bad place to start. NBC, the domestic F1 broadcaster, has showed some growth in F1 ratings over the last few years, albeit off a low base.
And the good news is that Bratches, a 27-year veteran of ESPN, knows better than most how to build a sports fan base in the US. He knows the power of storytelling to capture the imagination of the audience. Focusing on the personalities of the drivers, the intense rivalries and the rich history of the sport (including two American world champions in Mario Andretti and Phil Hill), F1 provides an extraordinarily rich vein of content for an audience that can’t get enough of sports history and stories.
Of course, for a country that loves a winner, it will also be critical for the US-owned Haas team to see some success, while getting home-grown and competitive drivers behind a steering wheel as fast as possible is also imperative. It would also not be a surprise to see the introduction of some technical and format changes that would spice up the racing and make it more appealing to a US audience.
All of this might mean that sponsors — many of whom are based in the States — might need to invest a little bit ahead of the curve. But with so much to play for, surely it’s a risk worth taking. What could be enticing? Week-long festivals, which combine world-class sport with technology, music, fashion and celebrity, based around street circuits in New York, Miami or LA and heavily marketed to a millennial audience through re-vamped social channels and distribution platforms. Now that’s a future for F1 that’s easy to buy into.
As the cars take to the grid across the globe this season, it will officially signal the start of a new era of leadership for F1. Liberty Media has talked an impressive game in terms of up-front investment, focus and desire to expand the sport. Now the race is on for teams and their sponsors to rise to the challenge.
Dominic Curran (@synergydom) is CEO of sports marketing and sponsorship agency Synergy US, part of Engine Group.


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Hayman is delighted to welcome the return of highly-respected tourism professional Anna Guillan in the position of Executive General Manager Sales & Marketing Hayman and Mulpha Hotels Australia.
InterContinental Melbourne The Rialto's chef concierge, James Ridenour, has been elected as the Victorian State Delegate for elite hotel concierge society, Les Clefs d'Or Australia.
Deborah English has been appointed Group Marketing and Sales Director of Lilianfels Blue Mountains Resort & Spa, Echoes Boutique Hotel & Restaurant, along with the historic Hydro Majestic Hotel which...
Mirvac Hotels & Resorts is delighted to announce the appointment of Cameron Jeffery as General Manager at The Sebel Resort Noosa.
The Australian Tourism Export Council (ATEC) has announced that Matt Hingerty
Tourism Australia is pleased to announce the appointment of Penny Lion to the position of General Manager, Business Events Australia.
John de Steiger, who retired from Harvey World Travel early 2010, has joined specialist Europe wholesaler
Emirates has appointed Barry Brown as its Australasia Vice President today, welcoming his 23 years of airline experience to the company.
Indonesia's national airline, Garuda Indonesia, has appointed Helen Blake as Sales Manager NSW and ACT, based in Sydney.
Sheraton on the Park, Sydney has recently announced the appointment of Brad Mercer as Hotel Manager.
InterContinental Fiji Golf Resort & Spa has appointed Scott Williams as the resort's new general manager.
Expedia, Inc, the world's largest online travel company and operator of the Expedia.com.auTM and Expedia.co.nz websites in Australasia, has announced the appointment of Reddy Kalluru as Director
AIR FRANCE KLM is pleased to announce the appointment of Mr. Dirk Buitelaar as the airline group's Country Manager for Indonesia.
Rocky Mountaineer, the largest privately owned passenger rail service in the world, is pleased to announce the appointment of Robert Halfpenny as Director of Sales for Asia-Pacific.
The Travellers Choice Board named one of Australia's most experienced and successful travel agents as its newest Director.
Constellation Hotels is proud to announce that Adrian Teh has been appointed General Manager of the new Chifley Wollongong which is due to open in September.
Accor has appointed Neil Paterson to the key position of Director of Sales for Victoria and Tasmania.
Leading low-cost airline AirAsia X has appointed its General Manager Australia Darren Wright to the position of Head of Commercial ahead of its proposed public listing.
Staging Connections Group Managing Director, Tony Chamberlain, has announced that Pete Urmson has joined his Executive team as General Manager Sales and Marketing across the group.
Geoff's ambitions for the role are set in Stone


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Starting a solar project in 2023? You’ll benefit from fewer barriers and more funding support than last year.
Supply chain shortages, global instability, and costly capital all hindered solar projects in 2022.
Solar will become more commercially viable in 2023, as supply chains are restored.
Budgeting priorities and emissions reporting are making solar projects more urgent.
Solar’s time in the sun has arrived. 2023 looks to be a banner year for solar, as the sector ramps up to bring projects from 2022 over the line, and meets demand driven by improved supply chains and tax incentives.
This is in stark contrast to 2022, when spikes in shipping costs and solar component prices, supply shortages, record inflation, and rising interest rates all made solar projects more expensive. Consequently, new solar capacity declined 23 percent in 2022.
Moreover, rising carbon taxes and stricter emissions reporting requirements made starting solar projects more urgent than ever.
Fortunately, solar resumed its rapid growth trajectory in 2023, accounting for over half of all new planned U.S. generating capacity. That puts solar on track to more than double its all-time record for new installations set in 2021.
In 2023, the solar sector is well placed to overcome the barriers it faced in 2022, by marshaling funding to help large energy users fulfill new emissions reporting requirements.
1. Supply chain costs are falling
Supply chain disruptions fueled rising costs and shortages for solar projects in 2022. After years of COVID-related disruptions in China—the world’s largest solar manufacturer—supply lines have shortened by focusing on domestic production.
At the same time, global shipping costs have fallen 85 percent since their peak last year, as pandemic-related shortages ease. This also lowers costs for solar projects still relying on foreign components.
Overall, sustained relief from supply chain woes is expected to materialize in the second half of 2023. According to a Solar Energy Industries Association (SEIA) report, commercial solar projects look to increase by 17 percent, as the Inflation Reduction Act‘s(IRA) impact grows and the solar industry navigates new U.S. trade rules.
Additionally, polysilicon—a key solar component—is more abundant after supply shortages sent prices to over $30 per kilogram in 2022. Prices dropped by 54 percent between August 2022 and January 2023, and are projected to stabilize at $10–15 per kilogram in 2023.
Global polysilicon capacity is forecast to balloon to over 1.2 million tonnes by the end of 2023.
Solar projects launched this year will benefit from cheaper components and logistics costs. This will reduce the impact of inflation and lower project risks. Large energy consumers worried about delays and project cost overruns from supply issues can rest easier in 2023.
2. Domestic solar manufacturing is increasing
Supply costs for solar projects are also decreasing as the U.S. shifts production away from Asia. Trade rules that limited imports from Asia hampered the U.S. solar sector last year, but these issues will subside as domestic production adjusts.
Hundreds of solar projects were put on hold in 2022 as Washington investigated Southeast Asian producers—responsible for 80 percent of U.S. solar panel imports. Consequently, new solar projects declined 46 percent in 2022-23.
The U.S. also banned polysilicon imports from Xinjiang, China due to forced labor concerns. Xinjiang produces 50 percent of global polysilicon. As a result, over 1,000 solar shipments were seized at U.S. ports in 2022.
This ban coincides with a push to increase U.S. solar manufacturing, as the IRA’s new tax incentives and domestic content rules are increasing domestic production.
Through February, 18 solar manufacturing projects (85 GW of annual capacity) have been announced in response to the IRA, according to the Department of Energy.
For example, First Solar is opening a third factory in Ohio later this year, with another in Alabama slated for 2025. These investments bring the company’s U.S. production capacity to roughly 10 GW.
Overall, the U.S. is on track to triple solar manufacturing capacity by 2024.
Solar projects that get started in 2023 will benefit from the IRA’s domestic content tax credits and cheaper prices. Domestic components protect solar projects from trade disputes and overseas supply chain issues.
3. Solar tax incentives are rising
The IRA has increased and expanded tax credits for solar projects. Solar credits were initially set to drop, which would have made commercial projects less viable.
For instance, the federal solar investment tax credit (ITC) was set to drop to 22 percent in 2023 and 10 percent in 2024. Instead, it has been raised to 30 percent. Solar projects can now also claim production tax credits (PTC) each year instead of the ITC. These changes effectively extend the ITC and PTC at their full rates for eligible projects until 2033.
Similar tax credits were announced by Canada last fall, and are expected to come into force this spring.
Additional credits are available if projects meet domestic content rules, are located in a low-income community, or near a closed coal mine or power plant (a further 10 percent for each). For example, a $1 million solar project meeting all criteria could receive up to $600,000 worth of ITC credits.
Leveraging these credits to start a solar project in 2023 reduces the total cost of the project, making it easier to secure funding, and shortening the repayment period.
4. Innovative funding solutions are mitigating capital costs
Record inflation and rising interest rates stymied solar projects last year. Left unaddressed, the rising borrowing costs will prevent energy users and solution providers from leveraging declining solar manufacturing costs. In response, companies are changing the way they fund projects.
Flexible funding solutions, particularly performance contracting, sidestep capital blockers and competing budget priorities, by structuring repayment as an operating expense. This minimizes risk, aligning monthly costs with realized savings. This allows businesses to start their energy projects, while remaining cash flow positive throughout the repayment term.
5. Emissions reporting standards will be implemented this year
The U.S. Securities and Exchange Commission (SEC) now mandates public companies to disclose their emissions, including from their energy purchases, and value chains. Therefore, many private businesses will need to start reporting emissions to their enterprise customers.
Proactive companies are using solar to reduce emissions and maintain their most lucrative supply contracts. Solar projects quickly pay for themselves, and once repaid, can help fund core business objectives and additional sustainability projects.
Meanwhile, Canada’s carbon tax is rising by 30 percent to $48 (CAD $65) per tonne of carbon dioxide equivalent (CO2e) in 2023. Even in regions without carbon pricing, new disclosure rules will impact energy users this year.
How EnPowered helps solar projects reach for the sun
The solar sector faced many hurdles in 2022. High supply chain costs, trade disputes, rising capital costs, and declining tax incentives all slowed solar adoption. These barriers increased risks, making companies more hesitant to start new projects.
Fortunately, changing production trends, and better tax incentives will bolster the solar industry in 2023. Solution providers and energy users can benefit by identifying and accessing the right funding solution for their project. This makes it easier to get approvals, both from the energy consumer’s finance team, and funders.
EnPowered Payments helps solar providers grow revenue by overcoming sales blockers and increasing the efficiency of their sales team when offering funding options (such as performance-contracting) to customers. Payments helps customers stay cash flow positive and acquire solar solutions with no upfront costs by making monthly payments that align with their savings.
Ready to learn more? Reach out today to take full advantage of solar’s sunny outlook in 2023.


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Expert Column: How Retailers Can Ease Consumers’ Ingredient Fears
All around the world, but especially here in the United States, brands and retailers are jostling to respond quickly to escalating consumer fears about potentially harmful ingredients in food and personal care products.
The examples are endless. CVS banned tobacco sales in its stores and, most recently, amped up its CVS health services to become America's biggest operator of health clinics. As of April 2015, Chipotle has phased out genetically modified ingredients from its food, and further disrupted the QSR world with naturally raised meat, organic produce and hormone-free diary for under $10.
Personal care products are no exception. Just walk the aisles of almost any grocery or convenience store aisle, and you’ll see a surprising proliferation of new organic skin care and cosmetics now available for purchase.
With headlines continuing to swirl about consumer demand for cleaner ingredient labels, more organic product choices, and total transparency in the supply chain, Daymon Worldwide sought out more information about how these fears were translating into retail-specific behaviors.
In June 2015, our Custom Shopper Insights team recruited 1,000 respondents, ages 18 and older, to take an online survey regarding their greatest fears about specific ingredients in food and personal care products, and how those fears affected shopping behaviors and purchase decisions. The respondents, 50 percent male and 50 percent female, were nationally representative across U.S. regions, and half of them were parents.
According to the study results, 40 percent of consumers have lost their enjoyment of the foods they eat, due to safety and quality concerns, and many are actively seeking stores that offer product alternatives. Nearly twice as many parents as nonparents report these anxieties.
The study also revealed that products that manage, prevent and cure health ailments are having the greatest impact on consumer attitudes about food and personal care products. In fact, 53 percent of respondents said that their heightened fears are driving greater demand for food and personal care products with fewer ingredients and stricter guidelines.
Food Safety on the Menu
One-third of survey respondents are more concerned about food product safety and quality today than a year ago, and 50 percent are more concerned than five years ago. Specifically, consumers are fearful of the perceived harmful effect on their children's development due to the presence of MSG, high mercury levels, GMOs, dangerous bacteria and other additives.
Regardless of how realistic these fears may be, they're definitely affecting how consumers shop. In fact, most shoppers conduct extensive online research, avoid stores that offer products with perceived harmful ingredients and are willing to spend more items on fresh items considered to be healthier.
Retailers need to be ready to respond by providing confidence-inspiring product selections and meal solutions.
Personal Care Product Woes
Consumers also have significant fears about the chemicals and additives in personal care products. Topping the list of concerns are carcinogens, lead, pesticides and formaldehyde, all of which survey respondents believe may cause cancer or allergies, or be harmful to healthy child development.
Interestingly, respondents said they're more willing to visit a mass merchandiser or grocery store than a drug store to purchase personal care products without ingredients they perceive as harmful. This means that drug stores are going to have to change perceptions by increasing product communication, educating associates and generally making health and wellness a top priority.
The good news is that huge opportunities exist for retailers ready to leverage their private brands to connect meaningfully with core consumers making purchase decisions based on ingredient fears.
Our study found that only 22 percent of consumers believe national brands to be healthier than private brands, which presents significant business potential for retailers ready to invest in their private brands.
In addition to teaming with suppliers to offer cleaner ingredient decks in private-brand product lines, all marketing communications about them need to be clear, concise and consistent. By making health and wellness an affordable choice for concerned consumers, savvy retailers and suppliers will establish trust that's well worth the investment.


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There are many restaurants serving glossy niharis and spiced lamb chops in London. None, though, have knit themselves into the city’s mythology as successfully as Tayyabs and Lahore Kebab House.
While diners flock to the Dishoom restaurants and Darjeeling Express — the latter featured in Netflix series Chef’s Table — these are new to the scene compared to the twin veterans of Whitechapel in east London. Lahore and Tayyabs celebrate their half-centenary this year: no mean feat in a city where more than 1,400 restaurants closed between June of 2021 and 2022, and rents and food prices are rocketing.
In many ways, the story of the two family-run restaurants is that of many curry houses in Britain. Both were established at a time when the garment factories that had dominated east London began to close down or relocate, forcing the Bangladeshi and Pakistani migrant workers to look elsewhere for employment.
Mohammed Siddique, who grew up in a village in Pakistan’s Punjab province and emigrated in his late teens, worked in one such factory in his early twenties before it folded. He and his two brothers then decided to set up Lahore. The canteen-style restaurant originally sat 14 and mostly served the local community. But tales of their cheap eats and roti, fresh from the tandoor oven, soon spread. Today, the venue seats more than 600 diners, and its customer base is as multicultural as London itself.
Tayyabs opts for a plush, theatrical experience (its signature dish is the lamb chops served, sizzling, on a platter), while Lahore is simple, brightly lit and white-walled. But the two restaurants have enjoyed what Jonathan Nunn, food writer and founder of the Vittles newsletter, terms a “duopoly” over Pakistani cuisine in inner London. Over the years, both have been lauded by critics, featured in food guides, and between them, won several awards.
They are also beloved of restaurateurs. Ranjit Mathrani, the co-owner of several upscale Indian restaurants including the Michelin starred Amaya, tells me that curry houses are an “anathema” to his own establishments. But on the subject of Lahore, he softens. “Don’t, please”, he says, “insult Lahore Kebab House” by calling it a curry house. He cites its emphasis on Punjabi regional cuisine as a factor in its success, and suggests it has helped shape the culture of south Asian dining London.
Nunn agrees that neither Tayyabs nor Lahore offer the “litany” of menu options that curry houses traditionally provide. Instead, their focus has always been Punjabi cuisine, characterised by its richness and heavy spicing.
Siddique, now semi-retired but still dapper in a grey suit and tie, assures me that Lahore never added sugar to its curries to adjust for British palates as other restaurants did. The kebab house’s enduring popularity has vindicated this approach and is proof of Londoners’ appetites for authentic Punjabi cooking.
Shamil Thakrar, co-owner of the successful Dishoom chain, which serves 40,000 diners a week, tells me that when his restaurants first began serving Indian breakfasts, the idea of a morning customer rush seemed unimaginable. But, he says, the historical presence of restaurants like Lahore “made it more normal”. He adds that these eateries “perhaps opened the way for more specificity of cuisine . . . [they] did allow . . . Indian food to be more accepted”.
Today, culinary specialisation is prized. Nunn suggests that a growing interest in food, as well as globalisation, have led to “a more nuanced understanding of regional cuisines”. In the square mile of Soho alone, one can indulge in Sri Lankan food at Hoppers, sample Indochinese fare at Fatt Pundit and finish up at Veeraswamy, which boasts dishes from several Indian regions.
Growing up in Cambridge — where we suffered through our fair share of tooth-achingly sweet restaurant curries — I know that curry houses in regions with fewer migrants are more likely to compromise on authenticity. Tayyabs and Lahore, however, were assured of local Pakistani and Bangladeshi custom so could stand by their cuisine.
But their refusal to temper the flavours of their kebabs, niharis and daals has shaped the palettes of countless diners — and allowed a younger generation of restaurants to flourish in their wake.


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Last week, the FGRT team attended and presented at NRF 2018 Retail’s Big Show in New York. In past years, retail technology seemed to feature more peripherally at the show, but there has been an industry shift, and technology took center stage at this year’s event. The exhibit halls were teeming with major technology solutions providers such as IBM, Microsoft, Intel, Amazon Web Services and Avery Dennison. At the Innovation Lab, a popular destination at the show that was sponsored by XRC Labs, 25 emerging technology companies showcased their solutions and industry leaders participated in panel discussions on a variety of retail technology topics. Beth Ferreira, Managing Director at FirstMark Capital, perhaps summed up the theme best in a panel discussion at the show when she predicted that, eventually, “all companies will become technology companies.”
Artificial intelligence (AI) is transforming the retail space by helping retailers provide engaging customer experiences and personalized interactions and enabling them to deliver products anywhere, at any time.
Everyone is talking about AI. At NRF 2018, I moderated a panel session titled “How AI Is Currently Powering Retail’s Growth.” I kicked off the discussion by describing Alibaba’s New Retail strategy, which involves providing the best customer service, 24/7, no matter where the customer is, and delivering the product to the customer anywhere, at any time. AI helped Alibaba achieve record sales during its 11.11 Global Shopping Festival on Singles’ Day in 2017, when the company’s AI-enabled customer service handled 95% of customer inquiries.
Silvia Campello, President and COO at lingerie company Cosabella, predicted that 85% of all transactions will be AI-based by 2020. Campello said that Cosabella is using AI in four main areas: advertising, email automation, A/B testing and product recommendations. She said that the company is using A/B testing to assess different dimensions, fonts, styling and other aspects of its website design, and that the design optimization had resulted in a 30% increase in conversion rate.
Kris Miller, Chief Strategy Officer at eBay, discussed how the customer’s end-to-end journey in commerce is changing. Miller said that deep learning is becoming mainstream and that AI is helping retailers improve the customer journey and transform the entire customer experience. eBay has more than 1 billion product listings, so improving its search functionality was critical for the company, Miller said. In October, eBay debuted its Grouped Listings feature, which organizes search results by item, rather than displaying each seller’s product listing. The company also rolled out two visual search features—Find It On eBay and Image Search—for its mobile app. The Find It On eBay feature allows customers to search for products on eBay by sharing images from social media platforms. Image Search enables customers to take pictures, or use existing ones on their phones, to find similar listings on eBay.
Companies that use deep learning and data analytics can make better pricing, staffing and product-curation decisions.
Greg Petro, CEO of First Insight, moderated a panel session titled “Retail Disruption: The Science of Pricing and Competitive Differentiation,” where panelists discussed how data can be used to inform business decision making. Richard Flaks, SVP of Finance, Planning and Allocation at Chico’s FAS, said that pricing is not simple and that companies need data analytics from a reputable firm to inform their decision making. He said that simply reducing prices is not an effective way to compete and that retailers could use data to differentiate their products and experiences.
Data can also be used to help drive staffing decisions. In a panel sponsored by ShopperTrak titled “Achieving New Levels of Customer Engagement with Prescriptive Retail Analytics,” John Cavellini, formerly a financial analyst at Williams-Sonoma, reported that scheduling the appropriate ratio of store associates to customers during “power hours” can increase store revenue by 1%–3%. He said that by analyzing store traffic data, individual stores can optimize their revenue, and he noted that this is often an overlooked area.


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The Company’s CEO, Andy Jassy, said Amazon plans to cut 18,000 corporate and technology jobs in a major expansion of its cost-cutting plans. Send an email to the staff Wednesday.
company It previously planned to lay off nearly 10,000 employeesThe New York Times reported in mid November that layoffs were occurring late last year and early this. The company’s book and hardware departments were the first to be laid off. Employees in human resources were also offered the chance to resign.
The new wave, which will be implemented on January 18, will focus on human resources and the large department that Amazon refers as stores. This includes the Amazon’s main website, its extensive field operations and warehouse operations, as well its physical stores and other consumer-related teams.
Amazon’s total cutbacks of 18,000 represent almost 6 percent of its workforce. Managers from a variety of organizations said that they were being instructed to prepare for layoffs. Employees were also being prepared for cuts.
The layoffs do NOT include hourly warehouse workers. These jobs are often undervalued by Amazon due to high attrition.
“These changes will allow us to pursue our long-term potential with a stronger costs structure,” wrote Mr. Jassy. “I am optimistic that we’ll still be creative, resourceful, grounded, and agile in this time of not hiring heavily and removing some roles.”
The company had more than doubled its workforce during pandemic. Customers flocked to online services and the company was able to increase its workforce by more than 50%. It employed approximately 1.5 million people at the end September.
Amazon’s growth, however, slowed downThe company’s lowest rate in over 20 years, and Mr. Gacy was feeling the effects of its expansion. Amazon recently warned investors of this. It can impair growthTo the slowest pace since 2001
Mr. Jassy explained that the extended cuts are a result Amazon’s annual review. This year was “much more difficult given the uncertain economic environment and that we’ve hired rapidly over the past several years.”
The Wall Street Journal mentionedAmazon announced Wednesday that it had increased its planned job cuts.
Amazon is just one of many tech companies that has recently announced deep discounts. Salesforce, the business software giant, announced Wednesday that it will lay off employees. 10 percent of its workforceConcerns about the economy led to a total of 8,000 layoffs. Meta and Twitter were among the other companies that have experienced significant layoffs in recent weeks.
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The 2018 cryptocurrency price declines may push US-based investors into problems with the internal revenue service (IRS). Considering reports that indicate a low volume of virtual currency tax reportage among Americans, losses incurred this year could see previously unreported cryptocurrency holdings come to light.
Triggering Tax Losses May Come with Negative Consequences
According to CNBC, people who failed to indicate ownership of digital currency assets in previous tax filings could be in for a complicated ride in 2019. The virtual currency market has plummeted by more than 60 percent. Prices of cryptocurrency assets have fallen massively from their late 2017 highs.
With this massive price decline, many may trigger tax losses by offloading their cryptocurrency holdings. However, reporting such losses in their tax filings could bring issues from the IRS come tax season in 2019. Commenting on this possibility, Sarah-Jane Morin, a San Francisco-based attorney said:
If I were in those shoes, I’d think about my past transactions and whether there were gains. If I had gains, and I was not willing to go back and amend my return, I might not do anything that would trigger a loss. But you should just be reporting it correctly, so you’re not playing audit lottery.
Most Folks Aren’t Tracking Market Value and Cost Basis
Considering the nonstop volatility of cryptocurrency assets, it can be a chore to monitor the price changes that occur over every period. The IRS classifies cryptocurrencies as property. Thus, investors need to keep an eye on the difference between the cost price and the price at which they sold or traded it.
For many investors, the above can constitute a lot of work. Most folks aren’t exactly tracking that kind of information, says Morin. Thus, it is unsurprising to see many retail investors, not including virtual coin transactions in their tax filings.
IRS Urged to Create a Simpler Cryptocurrency Tax Framework
The IRS for their part also needs to simplify the virtual currency tax reporting paradigm. The only available published tax framework from the agency relating to virtual currencies came in 2014. However, at the start of the year, the IRS sounded several warnings about the consequences of not fully reporting cryptocurrency ownership.
For one thing, many stakeholders would prefer a more detailed set of guidelines for filing cryptocurrency taxes. According to Morin, investors would do well to see a bit of compliance rather than not reporting any cryptocurrency holdings whatsoever.
Do you agree that the cryptocurrency tax provisions in the United States are confusing? Let us know your thoughts in the comment section below.
Image courtesy of Leaprate and ShutterStock