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Elsewhere in Kumasi, residents have started purchasing their coffins in anticipation o their death due to the high cost of living in the country.
Due to the hardship in the country, some residents of Kumasi in the Ashanti region have started buying their own coffins as they await their death.
This bizarre scenario was revealed by one Akwasi Baafi who sells and manufactures coffins in the region.
According to him, these days it has become common in the region that some people come to their shops to buy coffins not to bury their dead person but rather to buy it down for themselves as they prepare to die.
“There are some people who know the day they will die because of their health conditions so they buy the coffin they want their family to use to bury them while others also buy it because of the price increment of coffins,” he said.
He went on to say that after paying for the coffin, they return days later with their family members to show them the coffin they had bought to be used in burying them.
“People sometimes will pay for the coffin and later visit with their family members just to show them the coffin he/she has bought for his/her burial when he or she dies”
“But there are some of them who will buy the coffin and order us to wrap it so he or she can take it home because he is buying it ahead of his or her death” Mr. Baafi explained.
When asked if the people who sell coffins wish for people to die, Mr. Akwasi Baafi responded, “We do not wish people die, yet we always pray for good business because every worker prays for good business.”
He concluded by saying, “the fact we sell and make coffins doesn’t mean we feel happy when people die. We are human beings and we feel the pains when people are dying but death is part of our journey and no one can escape it”.


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Facebook profit triples to $642m as mobile use rockets.
Facebook has released its Q1 financial results for 2014, with revenue climbing to $2.5bn, displaying a profit of $642m, nearly triple the $219m the firm made in the same quarter in 2013.
Mark Zuckerberg, Facebook founder and chief executive, said: "Facebook's business is strong and growing, and this quarter was a great start to 2014. We've made some long-term bets on the future while staying focused on executing and improving our core products and business.”
Advertising revenue grew by 82%. Facebook relies on this heavily for it's growth. Facebook has almost 1.28 billion users each month, with 63% visiting the social networking site daily.
Facebook Messenger and Instagram both reached 200 million monthly users this quarter and Facebook has acquired virtual reality firm Oculus VR and mobile messaging app WhatsApp to boost it's portfolio. Yesterday WhatsApp founder Jan Koum announced that the service had reached 500 million users.
The figures are more positive than the financial results posted by firms including IBM, which saw its profits slump to $2.4bn in Q1, falling 21% year-on-year. Google posted a profit in its first-quarter results, but its cost-per-click income fell, causing concern among investors.
Meanwhile Apple also posted strong results on the same day as Facebook, as it saw profits of over $10bn which were driven by strong iPhone sales.
Courtesy of v3.co.uk, written by Rosalie Marshall

domain: news


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UK payrolls return to pre-pandemic levels, with vacancies at record – business live
Rolling coverage of the latest economic and financial news
UK payrolls back to pre-pandemic levels in August
More than one million vacancies
But end to furlough scheme looms…
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
UK company payrolls have returned to their pre-pandemic levels, and vacancies are at a record, as the long recovery from the Covid-19 crisis continues.
Vacancies grew on the quarter in June to August 2021 by 269,300 (35.2%), with all industry sectors increasing their number of vacancies and the majority reaching record levels; the largest increase was seen in accommodation and food service activities, which rose by 57,600 (75.4%).
In July there was some relief that US CPI remained steady at 5.4%, raising the possibility that we may have seen a peak. More encouragingly, core CPI slipped back from 4.5% in June to 4.3% in July, however even if central bankers seem sanguine about rising prices, US consumers definitely aren’t if the New York Fed’s latest survey of inflation expectations are anything to go by. Consumer expectations for inflation over the next three years are at a heady 4%, while for one year they are 5.2%.
The biggest worry aside from the surges we are seeing in energy prices, which is worrying enough, has been the continued rise in PPI last week to 8.3%, from 7.8%, which suggests that we may have only seen a pause in the upward trajectory in prices.


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Persistent rain over the Easter bank holiday weekend put a dampener on retail footfall which declined 12.5% year-on-year.
The Springboard National High Street Index revealed stores were hit particularly hard on Monday with shopper numbers down 22.4%.
Sales on Friday fell 9%, Saturday 9.6% and Sunday 11.1% as rain deterred shoppers across the country.
Springboard research director Diane Wehrle said an earlier Easter and the “ongoing squeeze” on household finances had hit shopper numbers.
Wehrle said: “This is a timely set of results as it shows that there is a real need for some robust measures to protect our vulnerable high streets and initiatives to put the high street back on the national agenda, like those recently announced by Grant Shapps, can’t come soon enough.”


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Researchers exploring behaviors behind social acceptance now have a theoretical answer for the Beatles’ lingering question about lonely people.
“Where do they all come from?” They just finished shopping lavishly to try to fit in.
A recent study reveals people will spend large sums of money to forge friendships and bond with a certain crowd. The research could prove beneficial for advertisers and marketers looking for ways to grow their profits.
“The desire to feel included is highly ingrained and extremely powerful. Some big companies such as Apple are extremely successful in part because they make the customer feel like they ‘belong,’” study author Nicole Mead, a researcher at Tilburg University in Netherlands, told BusinessNewsDaily.
People who feel socially excluded will sacrifice their personal and financial well-being for social acceptance, concludes the Journal of Consumer Research study, which also discovered people will eat foods they often don’t eat or like and do illicit drugs to feel liked.
In four experiments, researchers paired study participants together and induced them to feel socially accepted or excluded. Then, they assessed how their spending and consumption patterns changed.
Overall, excluded participants were more likely to buy a product symbolic of group membership and tailor their spending preferences to the preferences of an acquaintance, researchers said.
Consumer Joan Krammer notices similar behaviors in her Canadian community.
“In the large city and high-demand neighborhood I live in, I see extravagant spending on houses and kitchens when I know that the people can’t afford it,” said Krammer, a computer consultant in Toronto.
Her neighbors, she suggests, are trying hard to fit in.
“One of the take-home messages from this work is that advertisements that are aimed at people who are chronically lonely or temporarily so might want to include the notion that their products or services can bring them new friends,” said study researcher Kathleen Vohs, an associate professor of marketing at University of Minnesota.
“Marketing messages that give the idea that ‘everyone is doing it’ will be highly persuasive.”
- Web Coupon Deals May Not Always Benefit Businesses
- Google Unveils Site to Help Businesses Use AdWords
- How to Make Sure Your Elevator Pitch Isn't a Downer
This article was provided by BusinessNewsDaily, a sister site to LiveScience.
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Heinz has teamed with Pulpex to develop a paper-based, renewable and recyclable bottle made from 100% sustainably sourced wood pulp. Heinz is the first sauce brand to test the potential of this method.
Seventh Generation has unveiled the biggest brand evolution in its 30+ year history including a new logo incorporating seven overlapping leaves and a molecular-inspired packaging visual identity.
Fashion house Valentino has launched new packaging in what officials call a “necessary step” in the brand’s path to sustainability.
Pearlfisher’s brand and package design of Her.9 – a direct-to-consumer pregnancy nutrition brand – aims to reappraise the sector by speaking to a new generation of moms.
Dove, one of the largest beauty brands in the world, has launched its latest innovation that is set to transform daily deodorant use: refillable deodorant.
Explore 7 is a masterclass in digital design and printing, as well as a tactile and inspirational resource from Neenah.
A new Starbucks holiday cup initiative is a way to get customers coming back, but also represents a hot company and industry topic: sustainability.


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Posted in News
Soreen has announced an exciting new on-pack promotion that offers free ‘have-a-go sports sessions’, as well as 15% off dhb sportswear, available to buy at Wiggle, with every pack purchased throughout the summer.
The new promotion is supported by leading sports partners, Wiggle, Funky Moves, The Mindfulness App, Yoga Warrior and Auro – brands synonymous with health, fun, wellness and expert classes – designed to get people of all ages active, from the health-conscious families to the young professionals, fitness lovers and all those just trying to up their exercise.
The promotion has been adapted to ensure customers can claim free sessions even during lockdown, with several digital offerings available that can be enjoyed at home now. Equally, customers that would prefer to wait to visit a particular venue to enjoy the free ‘have-a-go sports sessions’ can do so given that the redemption period now extends on into next year.
Liz Jacobs, Brand Controller at Soreen says “At Soreen we want to encourage children and adults of all ages to get active and this is an opportunity for them to try something new for free. Families can plan ahead to redeem their out of home sessions once the lockdown has ended and venues re-open but in the meantime we also have some great “at home” sessions to keep everyone healthy and active while staying at home and staying safe” The promotion also includes a partnership with Wiggle, offering customers the option to enjoy 15% off Wiggle’s dhb sportswear range, which includes cycling clothing, footwear and accessories.
For full details of the promotion and how new Soreen purchasers and regular fans can be in with a chance to win, visit: https://www.soreensportsreg.com/terms


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AirBnb Under Hotels and Lodging Houses by-Laws According to DBKK
DBKK will be looking to crack down on illegal AirBnb operations in Kota Kinabalu according to Stanley Chong, Director of City Planning Department Kota Kina...
Hotel Bookings Cancelled
Tourism industry players from the accommodation sector are very worried about the implications the implementation of the Tourism Tax 2017 on them. Sabah...
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Susan Coss brings the copita to her mouth. It is nearly overflowing; she raises it slowly. Inside the tiny red clay bowl is one ounce of Del Maguey Chichicapa, a mezcal from the village of San Balthazar Chichicapa, Oaxaca, made from the espadín variety of agave. It zaps with a bright, citrusy, grassy note, then turns warming, recalling roasted chestnuts. “There are certain mezcals that are so complex, one or two sips is enough,” says Coss, founder of Mezcalistas (www.mezcalistas.com), a blog-turned-advocacy organization. “But Chichicapa — you could drink this all night. And I have.”
She’s not the only one. More Americans are drinking mezcal these days: Volume sales of the Mexican agave spirit jumped 279 percent between 2005 and 2015, according to the IWSR, an alcohol industry analyst. Since 2016, the major spirits corporations Diageo, Bacardi and Pernod Ricard have all made significant investments in mezcal brands. These developments are all the more striking given that mezcal has been widely available in the U.S. for only about a decade.


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Kortenhaus account executive Maria Albini may be all business while in the office, but after hours, she runs the popular Blonde Meets City blog. The 20-something Simmons College grad's blog focuses on fashion and entrepreneurial women in and around Boston.
Our favorite recurring piece is "It Girls" where Albini profiles local businesswomen who are doing impressive and innovative work. Here's an excerpt about Kirstyn Pearl, founder of Seacoast Sweets:
Based off a family recipe, these treats are a must-try. “My grandfather used to give us his homemade peppermint patties every year for Christmas.” said Kirstyn. “He didn’t make them often as it was only a hobby during his retirement - they were truly something we looked forward to. Once my family started handing the chocolates out to our friends and neighbors, requests for more grew to the point at which I recognized an opportunity. I approached my grandfather with the idea to sell, he passed down his recipe, and I began selling eppermint patties out of my dorm room to drunk friends on Friday nights.”
Over the years, the company solely remained a hobby as well for Kirstyn. She took Seacoast Sweets to the next level in October 2015 after continued word-of-mouth gave her no choice but to take a leap of faith. Kirstyn now has 7 all-women employees & recently completed a Kickstarter campaign, raising $43k in just 30 days.
Read more at www.blondemeetscity.com.


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By Matt Kelly, Radio Iowa
While poinsettias have an undeserved reputation for being poisonous, as you’d have to eat a few hundred poinsettia leaves to get sick, an expert says two other traditional holiday plants are toxic.
Registered nurse Tammy Noble, at the Iowa Poison Control Center, says mistletoe can be dangerous if consumed by people or pets, and also the red berries in holly should never be eaten.
“The berries can cause some gastrointestinal symptoms,” Noble says, “so things like nausea, vomiting, upset stomach-type of distress, maybe abdominal cramping, diarrhea also with it.”
Noble says the symptoms can show up quite rapidly and may last for 24 hours or more.
“If somebody does happen to swallow a holly berry, we do recommend that they call the poison center so we can evaluate how many berries were swallowed and give you recommendations on what to do,” Noble says. “The big thing is we don’t want them to be so sick with vomiting and diarrhea that they could get dehydrated from that.”
On the subject of berries, mistletoe’s white berries can also be toxic, and while sprigs of the plant are often placed above doorways to promote kissing, Noble says the entire plant should be avoided.
“The flower and the leaves of the mistletoe tend to be more toxic than the berry but we tend to get more calls about the berry than we do the flower or the leaves,” Noble says. “And with this one, also, it can cause the gastrointestinal, the GI upset.”
If you have questions or concerns, call the Sioux City-based Iowa Poison Control Center anytime at 1-800-222-1222.


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LE66, the fashion concept store from Paris, officially celebrates its launch in Dubai at City Walk 2 on November 22nd. The event which opened with a ribbon cutting ceremony lead by His Excellency Mr. Sami Dhaen Al Qamzi, Director General of the Department of Economic Development.
The store, headed by Mariam Al Hashemi and operated as a franchise by Dual Investments, hosted the launch which drew a crowd of Dubai’s discerning media, fashion elite and VIPs. The elegant black carpet led guests into the dynamic space where they were spoilt for choice on where to rush to first. Mohammed Sultan, Essa Walla and Mona Saqr were amongst the crowd in store browsing through the carefully curated collection and LE66 t-shirt customizing station.
Local artists DrawDeck created a bespoke piece of artwork in real time for the store’s launch to add to the already stylish setting. Along with a selection of international brands, LE66 features Middle Eastern trend-setters such as AKS, the label created by Bahraini sisters Amna and Asma Khaled Saif who were also in attendance. The sisters are known for their self-taught passion of architecture and urban landscaping which reflects through all their collections.
Other renowned local brands include Reemami, the brain child of award winning designer Reem Al Banna, which has been recognized for its signature experimental cute, playful concepts and hand illustrated graphics. “I feel the launch captured people’s imagination and allowed them to understand my vision when it came to bringing LE66 to Dubai. Whilst choosing the pieces in store I made sure to select those that were not readily available here. The European aesthetic acted as an outline for the concept but having regional designers was extremely important in order to draw attention to the skilled artists of the region,” said Mariam Al Hashemi.
LE66 is store is open from 10 AM-10 PM on weekdays and 10AM-Midnight on weekends. For more information, visit https/www.facebook.com/LE66Dubai/


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Imagine a world without egress fees or cloud software license disparities
UK regulator lists series of potential remedies for anti-competitive practices early on in probe
The UK's competition regulator is drafting remedies that could have big implications for Microsoft and AWS, should behavior that prevents or restricts customers from switching and using multi-clouds be identified.
The Competition and Markets Authority (CMA) last week confirmed it is to investigate the health of the domestic cloud infrastructure industry following a recommendation by comms watchdog Ofcom.
The probe will focus on three areas of particular concern, including egress fees, interoperability, and software licensing in the cloud. Also under the spotlight are Microsoft and AWS, which collectively account for 70-80 percent of the £7.5 billion ($9 billion) sector.
Although at the early stage of the investigation with no conclusions yet drawn, the CMA is already outlining ways to address any potential problems and is inviting additional solutions from interested parties.
In terms of solving technical barriers to interoperability, the CMA has five remedies: demand cloud providers make their service easier to work with third-party clouds; require standardization; ask vendors to "be more transparent" about interoperability; increase connectivity, i.e. to rivals' datacenters; and increase training for customers' technical staff.
"There are different aspects of interoperability that we are likely to consider, so we may consider potential options that relate to both 'service level' interoperability, data migration processes, and the more holistic process of migrating applications or workloads from one cloud to another," the CMA said in its Issues Statement.
On egress fees, the CMA's current list of possible remedies includes capping fees in relation to the costs incurred by the cloud providers; preventing vendors from charging egress fess; and increasing "visibility" of the fees amid a wider plan to "improve the predictability and control spend on cloud."
AWS, previously criticized for egress fees by smaller rivals, told us at the start of this month it "does not charge separate fees for egress — that is, for switching data to another IT provider — and over 90 percent of our customers pay nothing for data transfer because we provide them with 100 gigabytes per month for free."
Another area the CMA will consider is the way customers can be pressured to commit to a certain level of spending to secure "discounts." The list of remedies here includes "prohibiting the use of specific discount structures, such as certain rates or volume requirements," or "prohibiting" discounts "through a principle based approach."
"We would particularly welcome views on whether these remedies would disrupt any pro-competitive discounting strategies that cloud providers may use," the regulator said.
Another major element the CMA is to investigate software licensing practices, and in this respect it is mostly Microsoft that is expected to go under the microscope. Google, AWS, and a raft of other cloud providers and associations want to see action taken to prevent what they see as anti-competitive behavior.
Microsoft charges up to five times less to run its software on its own cloud infrastructure, Azure, and in other instances simply prohibits customers running Microsoft software on Google, Alibaba and – bar one concession – on AWS too.
The European Commission is currently combing over a complaint about this from trade group CISPE (Cloud Infrastructure Service Providers in Europe), an AWS-backed entity.
Top cloud players reject Microsoft's attempt to settle EU licensing complaintREAD MORE
The CMA suggests remedies to address this could include "increasing price transparency of cloud services that are sold to customers as part of a larger bundle"; prohibiting the sale of larger bundles; demanding cloud vendors "ensure version equivalence for software hosted on cloud infrastructure, regardless of who provides the cloud infrastructure"; and letting customers "port existing software licenses to any cloud provider, without incurring any additional charges or fees."
In a statement sent to The Register, Francisco Mingorance, secretary general of CISPE, said:
CISPE welcomes the decision by the UK CMA to investigate cloud licensing practices in the cloud by legacy software providers and we stand ready to support this for the benefit of all UK cloud customers. This is a highly significant development. Many regulators around the world have noted the potential for unfair software licensing to distort competition, but the CMA is the first to act with a formal investigation.
We and our members have consistently argued that discriminatory pricing, as well as favouring the use of essential productivity software with specific clouds limits choice and increases costs for customers. Research from leading competition economist Professor Jenny, as well as detailed evidence provided to Ofcom in its market study, clearly shows how dominant software providers surcharge customers to use clouds from other vendors.
This same evidence has been provided to the European commission as part of CISPE's antitrust complaint against Microsoft. We will be cooperating with the CMA and other regulators, to act to protect the interests of cloud customers in their jurisdictions from these ongoing anti-competitive practices.
Microsoft told us last week: "We are committed to ensuring the UK cloud industry remains innovative, highly competitive, and an accelerator for growth across the economy. We will engage constructively with the CMA as they conduct their Cloud Services Market Investigation."
AWS said it does not agree with Ofcom's findings that were referred to the CMA for a deeper inspection but will "work constructively with the CMA."
The CMA will also consider the position of Google in the UK cloud infrastructure sector, as it holds up to ten percent market share, but the company hasn't generally faced criticism of the way it operates.
"We will continue to allow our products to run on any cloud without penalty, separately offer our platform and productivity tools, and provide simple and transparent licensing and pricing," Amit Zavery, Google Vice President and Head of Platform for Cloud, told us earlier this month.
In the US, Google has raised its concerns about Microsoft alleged anti-competitive processes with the Federal Trade Commission, and that regulator is also going to review things following an official complaints from Google that Microsoft has a monopoly.
The US-based Coalition for Fair Software Licensing (CFSL), believed to be backed by Google and Amazon, is vocal is trying to tackle what it sees as unfairness in cloud software licensing.
- Top cloud players reject Microsoft's attempt to settle EU licensing complaint
- Microsoft still prohibits Google or Alibaba from running O365 Windows Apps
- Oracle, Microsoft barely compete for a quarter of their US Federal contracts
- The Register talks to Microsoft's European cloud rivals about getting a fair deal
Ryan Triplette, exec director at the CFSL, told us: "Legacy software providers are reducing customer choice in the cloud by making it more difficult – if not impossible – for customers to access certain software using rival cloud service providers. Using restrictive software licensing, these providers distort competition and stifle innovation across industry sectors and throughout the cloud stack."
He added: "We stand with customers in welcoming the Competition and Market Authority's formal investigation into restrictive software licensing practices and technical, contractual and cost prohibitive barriers they create on the cloud."
Kip Meek, chair of the CMA's inquiry group, said: "Cloud services are an essential part of how businesses in the UK operate and they underpin many aspects of our daily activities, from banking to communications. This is why effective competition in this market is so important." ®


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No one can predict the future of real estate, but you can prepare. Find out what to prepare for and pick up the tools you’ll need at Virtual Inman Connect online Nov. 1-2, 2023. And don’t miss Inman Connect New York on Jan. 23-25, 2024, where AI, capital and more will be center stage. Bet big on the future and join us at Connect.
Travel is about to get upended in the Big Apple.
After a recent court ruling, a new law set to take effect next week will outlaw tens of thousands of Airbnb listings overnight.
In a blow for the undisputed king of short-term rentals, the law will enact some of the strictest regulations in the U.S. on Sept. 5, removing options for travelers and shutting off the revenue streams for investors and other hosts who are currently making money through the platform.
“The city is sending a clear message to millions of potential visitors who will now have fewer accommodation options when they visit New York City: you are not welcome,” Theo Yedinsky, global policy director for Airbnb, said in a statement.
In January 2022, New York City passed Local Law 18. The law requires short-term rental owners to register with the city and it prevents companies like Airbnb from processing transactions for unregistered rentals.
New Yorkers are prohibited from renting their entire home or apartment for fewer than 30 days under the law and can only share their apartment with travelers after the law takes effect.
Airbnb challenged the law in a New York state court in June, calling the law a “de facto ban” on its business in the Big Apple. Justice Arlene Bluth dismissed the case earlier this month. It’s unclear whether the company plans to appeal the ruling further.
As of Aug. 14, the city had approved just 199 units that applied to register under the new rules, according to Crain’s Business New York. Officials within the city’s Office of Special Enforcement declined to provide an updated figure to Inman, but Bluth criticized the city’s “glacial” pace of work processing more than 2,000 applications, Crain’s reported.
AirDNA, a company that tracks the short-term rental industry, estimated there were closer to 22,500 nightly rentals in New York City, meaning about 99 percent of listings are at risk of becoming illegal and unavailable the day after Labor Day.
Crain’s reported there may be around 5,200 units eligible to be listed on the platform, or about 23 percent of the existing listings based on AirDNA data if the city approved them all. Some of those listings are simply hotels that are listed on Airbnb.
Airbnb and other competing short-term rental platforms frequently run into regulatory threats as cities grapple with unprecedented housing prices and backlash from tenants who view short-term rentals as lost supply that drives up the cost of housing.
“Some people just don’t like short-term vacation rentals for one reason or another,” said Nick Scarci, state and local government affairs director with the Vacation Rental Management Association. “Folks have moved away from just party house type discussions and there’s a lot more about affordable housing and [that] it’s eating away at the housing supply.”
The change is also a blow to the company as it seeks to ramp up its fight with its biggest competitor.
Hotels vs. Airbnb
Experts say the change will be a boon for the hotel industry, Airbnb’s leading competitor. That help comes at a time when the industry has rebounded significantly.
“Rental restrictions in New York can help an already recovered New York hotel market,” said Dan Wasiolek, a senior equity analyst for Morningstar. “New York had around 30,000 Airbnb listings earlier this year and if 20,000 of those go away that could shift to hotels.”
On a recent call with investors this month, CEO Brian Chesky announced the company’s profit had jumped 72 percent in the second quarter compared to a year earlier. Airbnb pulled in $2.5 billion in three months by charging hosts a 3 percent commission fee to list on the platform, and a 14 percent fee for guests to book a trip.
Chesky then went on to name his company’s next target: the hotel industry.
As a travel company and the outright market leader for short-term rentals, Airbnb is engaged in a battle to grab market share from the hotel industry. Simply put: fewer people staying in hotels means more people staying in Airbnbs.
“The hotel industry is more than about 10 times the size of Airbnb,” Chesky said. “Almost anyone that stays in a hotel could consider staying in an Airbnb. I mean, the spaces are one of a kind.”
The new regulations will make the company’s pursuit of market share much harder in one of the biggest markets in the country, a place where hotels have already largely rebounded after being rocked by the pandemic.
“At the end of 2019 there were about 138,000 hotel rooms in New York,” Morningstar’s Wasiolek said.
Nearly 84 percent of those rooms were occupied in mid-August, he said, citing Smith Travel Research. That’s up from 77.5 percent a year before, and above the 69.5 percent hotel occupancy rate for all urban markets, Wasiolek said.
“Assuming maybe half of New York Airbnb listings are removed and half of those were occupied on a given [night] and that half of those now book hotel rooms, would stand to add a few thousand incremental bookings,” Wasiolek said, “or about a low-single-digit percentage.”
The company Airbnb is looking to gain market share from isn’t Vrbo, which is likely the second-largest short-term rental platform. It’s Vrbo’s parent company, Expedia Group.
Expedia’s primary business is hotels. Its portfolio includes hotels.com, Travelocity, Hotwire.com, Orbitz and other well-known brands. The impact of Local Law 18 won’t hit the company as hard as it will Airbnb.
The company doesn’t report numbers that are specific to Vrbo. But as a whole, Expedia pulled in $3.4 billion in revenue during the second quarter through $19.2 billion in total bookings.
Airbnb, meanwhile, earned $2.5 billion on $19.1 billion in total bookings for the three months in the quarter.
In some ways, the abrupt change will force Airbnb to quickly adapt, including by leaning into changes it started making in anticipation of the challenges in New York.
A Big Apple return to the original
Earlier this year, Airbnb released what it called its “core product.”
Airbnb Rooms would allow homeowners — and some long-term renters — to rent a space in their apartment or home on the platform. That’s essentially the business Chesky and his fellow co-founders touted when they started Airbnb in 2008.
The change was an attempt by the company to add supply, attract new hosts onto the platform and also keep the cost of booking an Airbnb in line with — or lower than — hotels.
“A private room was the first offering that Brian and his roommates had way back when in the early years of the company,” Jay Carney, global head of policy and communications at Airbnb, told Inman in May.
Rooms cost $60 to $80 less per night than the typical one-bedroom whole rental, according to AirDNA.
The focus on that core shared-home product also came as Airbnb was battling New York in state court, which may ultimately help to keep more supply online after the city begins enforcing the new law.
New York homeowners and investors can no longer offer their entire home to a traveler while they’re out of town. They must share the space, or Airbnb Rooms, with guests, according to Local Law 18.
The company said the drop in listings will disproportionately affect the outer boroughs, which make up more than half of all Airbnb listings.
“Furthermore, nearly 80 percent of New York City’s census tracts are home to Airbnb listings but no hotels,” the company said.
The bottom line
It’s not clear how much business Airbnb stands to lose from the spigot being turned off in New York, where the typical Airbnb costs $251 per night, according to AirDNA.
Wasiolek said Morningstar expected the loss to amount to “less than 1 percent of total revenue.”
Airbnb charges hosts a 3 percent commission but will suffer a bigger loss from the drop in guests traveling on the platform in the city. Guests pay a 14 percent service fee to the company when booking. Between the two, Airbnb is looking at potentially hundreds of millions of dollars in lost revenue from the city.
Airbnb won’t share specific data about the anticipated impact the lost business will have on its bottom line, though it did say that no one city amounts to more than 1.5 percent of its overall bottom line.
Traders, too, have likely already factored the loss into Airbnb’s stock price, given New York City passed Local Law 18 in January 2022, Wasiolek said.
One risk for the company would be if other cities that are also grappling with housing shortages and affordability issues see what’s going to happen in New York and copy it.
“Bad short-term vacation rental policies can be contagious,” Scarci said. “LA could say, ‘Hey this registration process is working really well to restrict the number of short-term vacation rentals, we could do that here.’ We’ve seen this with other policies. I’d assume this one could follow.”


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Apple announces the results of the fiscal fourth quarter of 2017 and the first success of the iPhone 8 and iPhone 8 Plus in the market on the second of November. Announcement of results scheduled for the day before the start of sales of iPhone jubilee X.
As usual, before investors will be Executive Tim cook and chief financial officer Apple Luca Maestri.
According to preliminary dat a, Apple is counting on positive results, despite the low sales of the iPhone 8 and iPhone 8 Plus at the start. Previously, we reported that the company plans the demand for the new smartphone, knowing that many users will abandon the eights and wait for the iPhone X. In this regard, delivery of anniversary smartphone with OLED display and system of the detected face ID Face can move in until February-March next year.
The results of the fourth fiscal quarter of the year, Apple hopes to increase iPhone sales compared to the previous reporting period. For the third fiscal quarter of 2017, Apple has sold 41 million iPhones, and its total profit amounted to 45.4 billion dollars.
According to analysts The Wall Street Journal, Apple’s revenue for this quarter will be 49-52 billion, and will grow 37-38%, compared with the results of the fourth quarter of last year. Operating profit amounted to 6.7- $ 6.8 billion.
Follow the news Apple in the app on iOS MacDigger.


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Prushansky v. Fradley (West Palm Beach, Florida).
Plaintiff Janet Prushansky claimed that defendant Tara Fradley negligently caused a car crash that killed Janet's mother, 70-year old Ann Prushansky, while Ms. Fradley was driving under the influence. At the time of the incident, Ms. Fradley was 17-years old.
For the plaintiff, Mitnick and Levy's Ken Mitnick told the jury that Ms. Fradley rear-ended Ms. Prushansky's stopped vehicle at a high rate of speed, crushing the rear of Ms. Prushansky's car, and propelling Ms. Prushansky forward. According to Mr. Mitnick, the seatbelt released as a result of the collision, and loading marks on the seatbelt showed that Ms. Prushansky routinely used the seatbelt. Moreover, said Mr. Mitnick, the jury would be able to infer from the evidence that Ms. Fradley had been drinking alcohol and taking Xanax without a prescription prior to the accident, and was talking on a mobile phone at the time of the accident.
For the defense, Bart Cozad, of Derrevere Hawkes, told the jury that in fact Ms. Prushansky had struck the car in front of her first, which created a sudden stop situation for Ms. Fradley. According to Mr. Cozad, Ms. Prushansky's negligence in causing the sudden stop, and in failing to wear her seat belt, were contributing factors to the accident.
The jury awarded damages of $1M to each of Ms. Prushansky's children, for a total award of $3M.


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- Staff Kansas City Business Journal
Although the U.S. economy briefly fell off the fiscal cliff with the start of the new year, lawmakers stayed up until 2 a.m. Tuesday to strike a deal, Reuters reports.
The package raises taxes on top earners and families earning more than $450,000, limits deductions, delays $109 billion in cuts to military and domestic programs, and lets expire a temporary payroll tax cut.
The report says the deal will increase budget deficits by $4 trillion during the next 10 years but save $650 billion in comparison to previous tax-and-spending policies.
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Fourth Bomb Threat at Consumer Centre in West Long Branch
Police responding to reports of a bomb threat to the Buy Buy Baby store.
Days after an Eatontown man was charged in connection with bomb threats called into a West Long Branch shopping center, police are responding to reports of another threat.
The Buy Buy Baby store in the Consumer Centre received a bomb threat on Friday afternoon, an emergency responder confirmed.
Another threat at the Buy Buy Baby store on Sunday, Feb. 10 remains under investigation, according to a press release issued by the Monmouth County Prosecutor's Office.


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Start saying arrivederci to Giada De Laurentiis, Food Network viewers: The TV chef is leaving the channel after 20 years.
“Giada De Laurentiis is culinary royalty, someone who has taught audiences how to properly pronounce every cut of pasta imaginable for nearly two decades,” a Food Network spokesperson told TODAY.com in a statement. “Food Network will always be proud of the beautiful content we have created together, and our table will always have an open seat for Giada.”
The news of De Laurentiis’ Food Network exit came a day after Deadline reported that the 52-year-old has signed an overall unscripted series production deal with Amazon Studios. With that multi-year deal, De Laurentiis with develop, executive-produce, and potentially star in projects for Amazon Studios.
“With her charismatic passion for food, and commitment to making extraordinary culinary experiences accessible to the home chef, Giada De Laurentiis has remained at the forefront of her industry for nearly two decades,” Lauren Anderson, Amazon Studios’ head of AVOD original content and programming, said in a statement to Deadline. “We look forward to developing an exciting slate of projects with Giada, as she expands into new areas and we broaden our portfolio of cooking and lifestyle content.”
“I’m looking forward to this next chapter,” De Laurentiis added in a statement. “I’ve been a fan of Amazon for a long time, and I’m excited for what we will accomplish together.”
During her Food Network tenure, the Le Cordon Bleu-trained chef won two Daytime Emmy Awards, one for her show Everyday Italian in 2008 and one for Giada Entertains in 2016. Her other shows for the channel including Giada in Italy, Giada’s Holiday Handbook, and Giada’s Weekend Getaways.
According to People, reruns of De Laurentiis’ shows — including Giada at Home and Giada Entertains— will continue to run on Food Network and discovery+.


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New SWA chairman pledges to strengthen industry
Pernod Ricard chief executive Pierre Pringuet has vowed to take the Scotch industry “from strength to strength” after becoming the new chairman of the Scotch Whisky Association.
Pringuet takes over from Edrington boss Ian Curle, who headed the trade body for three years, and will work with chief executive David Frost to grow Scotch as a brand at home and abroad.
Pringuet said: “I feel privileged to take over as chairman of the SWA and I’m committed to ensuring Scotch Whisky retains its position as an iconic product around the world. With its great brands and committed people, as well as the support of governments at home and abroad, the Scotch Whisky industry will go from strength to strength.”
Ivan Menezes, chief executive of Diageo, and Richard Burn, global policy and public affairs director of Diageo, are also join the SWA council.
The SWA also announced that Julie Hesketh-Laird has been appointed as its new deputy chief executive. She joined the SWA in 2005 as director of operational & technical affairs and she will continue in this role alongside her new position.
The Association also announced it intends to sell its Atholl Crescent office and move to modern premises in Edinburgh next year, and to open a small permanent office in London to strengthen its impact there.
David Frost, SWA chief executive, said: “This is an exciting time for the SWA and the entire Scotch Whisky industry. The industry supports around 40,000 jobs across the UK and exports about £4 billion annually, but its success cannot be taken for granted. Economic headwinds and challenges, both domestically and in overseas markets, mean the work of the Association on behalf of the industry is of vital importance.”


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As the August 28th deadline for the plastic ban in Kenya approaches, focus shifts to alternative options. The Eco-friendly bags exhibition was held yesterday at Nairobi’s Kenyatta International Conference Center (KICC) which saw a number of exhibitors showcasing their products.
Remember the ban applies to all plastic carrier bags with handles and flat bags (you know, zile za mama mboga). The exemptions include:
- Material used for industrial primary packaging whereby the product is in direct contact with the plastic material;
- Self-cringing plastic material used for primary wrapping of some products and this does not include the light plastic bags.
The new law states that, if one is caught carrying a plastic bag, you risk a four-year jail term or a maximum fine of 4 million Kenya shillings.
This creates an opportunity for us! We as the youth have a better chance to be creative, innovative and explore what can make a big impact in the society.
Think about this guys. The Youth Enterprise Development Fund. We can come together and acquire a loan which will go a long way in helping us make customized bags from wool, sisal, cotton or even leather and sell them to the public and companies. That creates a solution to the problem, and more money for us to go out, buy the latest red bottoms and Jordans and finally move out of our parents’ houses.
But a question we must ask ourselves. Is Kenya really ready for this big change?
Write a comment below! Let’s hear your comments…


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SAN FRANCISCO -- The powerful new Porsche 911 GT3 RS's 500-horsepower gasoline engine can blast a driver from zero to 62 mph in 3.2 seconds.
How fast can the German automaker manage the transition to a future of electric vehicles and robot-driven cars?
The company addressed that question in its hometown of Stuttgart earlier this month, laying ...Read more
DETROIT -- Cadillac will unveil an all-new, 550-horsepower twin-turbo V8 engine in a V-Sport performance version of its CT6 luxury sedan at the New York auto show next week.
The 4.2-liter engine will be linked to a 10-speed automatic transmission and sport-tuned all-wheel-drive system. A 500-hp version will also be available.
Cadillac will ...Read more
WASHINGTON -- The death of a woman who was struck by a self-driving Uber in Arizona on Sunday has auto-safety advocates demanding that U.S. regulators and lawmakers slow down the rush to bring autonomous vehicles to the nation's roadways.
Don't count on it.
Efforts to streamline regulations to accommodate the emerging technology have been ...Read more
DETROIT -- Why is Ford Motor Co. betting its future on trucks?
You might call it a smackdown between the F-150 and Nike Air Jordan XXXII.
Ford executives like to point out lately consumers spent $41.25 billion on F-Series trucks in North America in 2017. Incredibly, the trucks have generated more revenue than:
-- ...Read more
DETROIT-- Pickup enthusiasts like to talk about towing capacity.
Ford is counting on it, in mid-March publicly hitching the entire 115-year-old automaker to its truck franchise that's led by the best-selling F-150, hoping to haul the company's stock and image out of the muck where it has been spinning its wheels for months.
It's a good idea, ...Read more
SCOTTSDALE, Ariz. -- In what's about to become the hottest year ever for new pickup unveilings, the 2019 Ram 1500 hits the road first with a smooth, quiet ride and high-end features no competitor can top.
I just spent a day driving a loaded Ram 1500 Limited pickup through Arizona's roads and desert.
The all-new Ram 1500 should be in ...Read more
The Ford GT is the hottest American production supercar ever made, and it's an icon that represents homegrown automotive glory.
Ford built the first prototypes to challenge Ferrari's dominance on European racetracks. The GT beat the Italians at their own game in a historic 1966 victory at Le Mans -- taking first, second and third place.
Then ...Read more
Buick's large three-row crossover, the Enclave, got a complete makeover for 2018, bringing it into its second generation.
It's actually about 10 percent roomier inside than before, and still offers comfortable seating for up to seven passengers -- even adults.
Prices for 2018 begin at $39,995 (plus $995 freight) for the base front-wheel-drive ...Read more
Creator's Children: The Rise of AstwihadValerie Welsh
Having decimated the peaceful Trident race in the Deneb Star System, Astwihad and his clones are now targeting their next conquest; Earth!
Galaxie, Guardian of the Milky Way, must use all her cunning and knowledge to safeguard Earth and all those under her ...
DETROIT -- America is showing an insatiable appetite for trucks and SUVs, and Ford plans to feed it.
CEO Jim Hackett and his top executives announced Thursday a strategy to ramp up truck and SUV production with a goal of 86 percent of the company's volume in North America by 2020 -- up from 70 percent.
"We're speeding up product development," ...Read more
Q: I have a 2004 GMC Envoy XUV, V6 with 65,000 miles. For about the last six to nine months it seems to lose power about every 20 starts. It starts, no problem, but when it's time to get in gear and move, it makes a sound that is hard to describe and seems not to want to move forward or backward. This lasts for a bit, and then the sound ...Read more
Subaru's 2018 Crosstrek 2.0i Limited subcompact SUV sets the standard for value and safety features in a small SUV that's likely to be many parents' vehicle of choice for kids with new driver's licenses. Most teens will probably endorse that choice, because unlike conservative clothes, early curfews, getting plenty of rest and eating balanced ...Read more
Ford Motor Co. on Wednesday announced a safety recall for 1.4 million of its cars in North America, saying that because of issues with the steering wheel bolts, the steering wheel could detach.
It also announced a safety recall for about 6,000 manual-transmission cars over a clutch-plate problem that carries a risk of fire.
The recall over the...Read more
Airbnb for cars?
Bloomberg reports that General Motors is planning something similar through its Maven car-sharing platform.
The news service, citing unnamed sources, said GM will launch a pilot project this summer.
"GM vehicle owners will be able to put their cars on Maven's platform for other drivers to rent and share the revenue with the ...Read more
DETROIT -- Ford Motor Co. announced Monday it has created a 2019 Mustang GT California Special that adds new muscle, new high-tech handling and a new audio experience.
"People have been talking a lot about the 2019 Mustang Bullitt," said Ford spokesman Jiyan Cadiz. "This adds just a little more excitement for Mustang fans."
Ford continues to ...Read more
Battery electric car sales are low and growing more slowly than the Sierra snowpack.
Even in green California, and despite a 30 percent increase over 2016, sales of battery electric vehicles accounted for only 2.5 percent of all sales in the state last year, according to the California New Car Dealers Assn.
The Nissan Leaf was the earliest ...Read more
Q: As a former mechanic, I read your column regularly to help keep me up with what's going on in the auto repair world. Occasionally I read about frustrating intermittent problems like failure to start or stalling. We all know they're often hard to pin down unless the problem can be recreated for diagnosis. I thought I'd share one of my ...Read more
Just last year GMC redesigned the Acadia large family crossover, downsizing it a bit and adding features, technology and even a new All-Terrain package that gives it improved off-road capability.
While base models come with a standard four-cylinder engine, our SLT-1 All-Terrain version came with the uplevel 3.6-liter V-6, along with leather ...Read more
MINNEAPOLIS -- Self-driving cars will eventually hit the pavement in Minnesota, and state officials want our roads and laws to be ready.
Gov. Mark Dayton formed a group Wednesday to delve into the tricky policy and infrastructure questions that will accompany the arrival of autonomous vehicles. The 15-member advisory council will take up ...Read more
Ford is playing catch-up with the 2018 EcoSport subcompact SUV, but it's a long way behind. The EcoSport just went on sale in the United States, but it's a face-lifted version of an SUV Ford's been selling in other parts of the world since 2012. Most of the competition is newer, with equipment that reflects it.
Adding to the challenge, the ...Read more
- Mark Phelan: Move the Detroit auto show to October? It's complicated
- Company will rent you a Tesla to drive from San Diego to LA for $49
- Sharing startup Twisted Road wants to be the Airbnb for motorcycles
- Auto review: Mitsubishi Outlander plugs into practicality
- Auto review: Considering a plug-in car? 2018 Kia Niro PHEV is a good starter


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Bankrupt Sunshine Energy, owner of APPCO, is fighting in the courts to regain its 12 closed convenience stores, which were repossessed by Management Properties Inc., the Johnson City Press reported.
Meanwhile, Management Properties Inc. (MPI) wants Sunshine’s recently filed bankruptcy thrown out of court, so it can repossess another 16 stores.
According to Sunshine Energy, its main landlord-MPI- a company controlled by former APPCO owner Jim MacLean, should return the 12 store properties it repossessed earlier this month. A court gave an order allowing for those repossessions this spring based on non-payment of rent and property taxes. MPI was in the process of repossessing all its 28 properties when Sunshine filed for bankruptcy on June 10. Sunshine asserts that the repossessions by MPI were based on “unlawful detainer actions” and is asking that the court “set aside … the Tennessee state court actions” and “order that Sunshine TN I and Sunshine TN II be awarded possession of the store locations closed and seized…”
MPI, however, alleges the Sunshine Energy filed for bankruptcy with the intention of thwarting MPI’s lawful right to repossess the stores. MPI won the right to close the locations after going to court earlier this year over Sunshine’s delinquent rent, unpaid property taxes and deferred maintenance issues. MPI’s motion to dismiss the bankruptcy, scheduled to be heard July 12, claims that Sunshine didn’t legitimately need to file bankruptcy and did it to stop MPI from continuing to repossess the stores.
Bankruptcy Judge Marsha Parsons is set to hear the case.
The Plot Thickens
This is APPCO’s second bankruptcy in two years.
Titan Global Holdings, a Texas-based company, acquired the 60-sotre APPCO chain in September 2007 from longtime owner MacLean for $30 million. It then filed for Chapter 11 bankruptcy in February 2009. MacLean retained ownership of about half the stores through MPI.
Then, in September 2009, it sold out of bankruptcy court to Florida Sunshine Investments, primarily owned by Florida billionaire businessman Jeff Greene -a Democratic candidate for U.S. Senate in Florida – who bought APPCO, at $6.25 million for 47 stores and more than 100 dealer contracts, as part of the bankruptcy resolution.
But as aforementioned, MPI has claimed rent payments were chronically late, property taxes weren’t paid per the lease contracts, and crucial store maintenance wasn’t being performed.
Sunshine has filed a motion for approval of debtor in possession (DIP) financing for $750,000, which it would borrow from a California lender called Aviation Plaza Partners, in order to pay May, June and July rents (totaling nearly $400,000), along with $148,000 in back property taxes.
Sunshine claimed in the motion it “has no other source of cash to meet its past due and current obligations under the Leases.”
When MPI won the right in court to repossess the properties, former APPCO CEO Jeff Benedict said MPI’s hope was to gain possession and market them to a tenant that could operate them successfully enough to meet their lease contracts. MPI’s motion claims Sunshine’s “primary motivations for filing bankruptcy” were to stop that process. It has not been able to continue repossessing properties since the bankruptcy filing because of “automatic stay” bankruptcy rules. Those rules also prevent MPI from marketing the property it already has.
MPI also notes Sunshine hasn’t filed any schedules or statements of financial affairs, as required by bankruptcy law, and has in fact asked for extensions to file those schedules.
All these factors combined, MPI claims, “suggest that the primary and overriding reason for the Debtors’ petitions was to avail themselves of the injunction provided by the automatic stay.”
Time will tell what the court decides.
SOURCE: Johnson City Press.


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June 10, 2015
Motorola Solutions employees back U.S. trade legislation
More than 1,000 U.S. employees sign letters backing Trade Priorities and Accountability Act
- Motorola Solutions employees from Illinois, Florida and Maryland signed letters urging their respective Congressional delegations to pass a trade legislation bill
- To grow, multinational companies require policies that promote access to global markets, Chairman and Chief Executive Officer Greg Brown said
SCHAUMBURG, Ill. – June 10, 2015 – More than 1,000 U.S. employees at Motorola Solutions (NYSE: MSI) have signed letters urging Congress to pass the Bipartisan Congressional Trade Priorities and Accountability Act (TPA).
The trade legislation, passed by the U.S. Senate last month and pending a vote in the U.S. House of Representatives, is critical for the growth of any global business. The legislation would establish concrete rules for international trade negotiations that would promote growth.
“Our ability to sell innovative products and services in markets abroad and create jobs depends, in large part, on global trade policies that promote market access,” said Chairman and Chief Executive Officer Greg Brown. “With 95 percent of the world's consumers and 80 percent of its purchasing power outside of U.S. borders, expansion of trade is essential to the future growth of any multinational company.”
The trade legislation would help with ongoing negotiations on two trade pacts currently under consideration: the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP). These agreements would advance and solidify market access rules across the Asia-Pacific and European markets for U.S. businesses.
Motorola Solutions, a leading provider of mission-critical communication solutions and services for public safety and commercial customers, has more than 100,000 customers in more than 100 countries, with employees working in 60 countries. In the first quarter of 2015, almost 40 percent of its revenue came from outside North America.
Motorola Solutions has operations in Illinois, Florida and Maryland, where employees signed letters to their respective Congressional delegations, asking them to pass the trade legislation.
About Motorola Solutions
Motorola Solutions (NYSE: MSI) creates innovative, mission-critical communication solutions and services that help public safety and commercial customers build safer cities and thriving communities. For ongoing news, visit www.motorolasolutions.com/newsroom . Find Motorola Solutions Public Safety on Twitter.


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DOD Details its RFID Plans
Although the U.S. Army has used radio-frequency identification tags for nearly a decade, it was the recent Gulf War that prompted the Department of Defense's recent decision to adopt them, a senior official said.
The Defense Department said last week that it will require its suppliers to deploy RFID tags by January 2005, the same date that Wal-Mart Stores Inc. plans to deploy the technology in the commercial space.
The U.S. military and Wal-Mart stores are leading the charge on radio frequency identification (RFID) tags. Click here for more information on their strategy and the technology...
To read the full article, click here.


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A Kitsap County native who spent years collecting and developing abandoned rolls of film hopes to connect the photos with the people who took them.
Luke Guidici is a writer and filmmaker who grew up in Bremerton and enjoyed shopping at thrift stores with his sister.
"One Christmas, when my sister and I were both back for the holidays, we were visiting our favorite local thrift stores and I just happened to look in a tub that held a bunch of old 35 MM point and shoot cameras,” he said.
He realized one of the cameras still had film inside and decided to get it developed.
"There's something really interesting and magical about a camera that has exposed film in it,” Guidici said. "No one had ever seen those photos, not even the people who took them."
He spent seven years collecting and developing film from more than 100 cameras. Then he chose 100 of his favorite photos, wrote short stories or poems to accompany them, and published a book called Found in Kitsap.
"I wanted to get them out in the world, I wanted people to appreciate the beauty of them and the beauty in the small moments that were in these photos,” he said.
Up to this point, no one has contacted him to say they recognize anyone in the photos.
"I'd love to reunite the photos with the people in them and the people that took them, and I'd love to be able to find cameras in other places beyond Kitsap County,” Guidici said.


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Potato industry urges Trump to add potatoes to NAFTA renegotiations
In a letter to President Donald Trump, John Keeling, the National Potato Council's (NPC) CEO, said the group “is strongly supportive of improving the conditions for trade that we confront with Canada and Mexico," as NAFTA negotiations may take place.
Keeling also noted that the two countries represent important markets for U.S. producers. Canada is the second-largest export market with annual sales of $315 million—17.8 percent of total U.S. exports. Mexico comes in third with annual sales of $253 million, 14.3 percent of annual exports.
“The potato industry believes that potato exports to Mexico could grow to $500 million annually with full unrestricted access for all U.S. fresh and processed potatoes,” Keeling said, noting that sales to Canada would also rise, but didn’t specify by how much.
The NPC did, however, caution against an outright withdrawal from the deal, saying tariffs, which are currently non-existent on potatoes, would revert to between 50 and 70 percent, the standard level for “most favored nation” trading partners.
Publication date: 5/12/2017
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MOD Audio has announced the launch of its new Convolution Reverb plugins and pedalboards.
The company has developed a powerful convolution engine capable of processing Impulse Response files up to 15 seconds, a record-breaking feature for standalone audio processors.
The release includes two plugins free for all MOD device users: the MOD Convolution Loader, which allows musicians to use their own IR files, and the MOD Convolution Reverb, containing 33 high-quality IRs from different places and equipment.
MOD Audio has also partnered with DoGood Sound, a premium IR and unique audio samples supplier, to release 12 new paid Reverb plugins with over 300 IRs sampled from different locations and iconic equipment.
To celebrate the launch, MOD Audio has also released a collection of fine-crafted reverb pedalboards, featuring the new Convolution Reverb plugins as well as classic reverb sounds from the MOD platform, like the all time-favorite Shiroverb and the DragonFly reverb suite.
The boards are fully self-contained, designed for out-of-the-box playability, and make full use of the power of the MOD platform to add features ranging from Trails and Gated Verb to exquisite dynamic controls over the reverbs. The new reverb boards are available for free for all MOD device owners.
“We’re thrilled to offer music creators a new level of control and creativity with our Convolution Reverb pedalboards,” said Gianfranco Ceccolini, CEO of MOD Audio. “Our partnership with DoGood Sound, combined with our powerful convolution engine, has allowed us to bring a new level of sound design to the market, and we’re excited to see what users will create with these tools.”
The DoGood Sound plugins cost between 15 EUR and 25 EUR each and can be purchased by device users via the remote web interface.
More information: MOD Audio


text: Coty, the world's largest fragrance company with net sales of $3.3bn in 2007, is on the war path after declaring its ambition to pass the $5bn turnover mark by 2010. All operations of DLI Holding Corp., which is principally owned by investment funds associated with Kelso & Company, will be merged with those of Coty under the deal. The acquisition will add cosmetics brands such as Sally Hansen and N.Y.C. to Coty's portfolio which already includes several celebrity ranges. Coty produces perfumes for Jennifer Lopez, Sarah Jessica Parker and David Beckham but is moving towards skin care and color cosmetics with last week's acquisition. "Del's established, well-regarded portfolio of quality products mesh well with our core offerings and their strong presence in North America complements Coty Beauty and Coty's international strength," said Coty CEO Bernd Beetz. DLI Holding Corp. also benefit from the deal and will be able to build the company's many growth opportunities with the new ownership structure, said Del Laboratories CEO Charles Hinkaty. Coty, which is owned by Germany-based JAB investments, a private holding company, became the world's largest cosmetics company when it bought Unilever's fragrances division in May 2005. The company plans to become one of the five largest beauty companies in the world. Earlier this year it consolidated its regional businesses and created a global beauty unit to ignite further growth. The financial terms of the acquisition of DLI Holding Corp., which has net sales of over $400m, were not disclosed. The deal is expected to be closed by the December, 31. The acquisition of DLI Holding is a rare example of a large private equity deal in the current climate of rising interest rates and uncertain economic growth figures.


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New Post Office opens near Moneymore
As part of a modernisation and investment programme taking place across the Post Office network, a brand new branch has opened at Mace Littlebridge Country Stores, Moneymore.
The new branch offers customers a wide range of services, from posting letters and parcels to collecting and returning online shopping items.
Customers will also be able to take advantage of a wide range of banking services including cash withdrawals and balance enquiries for customers of all the main UK banks.
The new PO services are available 7am to 9pm; Monday – Friday and 8am to 8pm on Saturday and Sunday amounting to 94 hours of Post Office service every week, making it easier for customers to visit at a time which is most convenient to them.
The new branch joins Coagh Post Office in bringing vital services to the local community.
Clive Serplus, Post Office Area Network Change Manager said: “We want to make it as easy as possible for customers to pay their bills, withdraw cash from their bank accounts, and send and collect their mail at a time and place that suits them best.”
He said he was confident it would meet the needs of the community.
“We know how important our services are to customers, and are confident that this brand new Post Office alongside our other branches, will ensure that people have easy access to our services.”


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Euphoria actor Angus Cloud tragically passed away at the young age of 25 in July 2023, but the actor will still appear in a few more movies posthumously. One of his last film roles is in the thriller film Your Lucky Day from writer and director Daniel Brown.
Your Lucky Day was released in select theaters on Nov. 10, and later arrived on video on demand on Nov. 14. Fortunately for Netflix subscribers, the action thriller flick is slated to be released on Netflix very soon. We're talking in a day soon. Your Lucky Day will make its way to Netflix on Friday, March 8, 2024. It'll likely be dropped at 12:00 a.m. PT/3:00 a.m. ET since that's when Netflix usually releases new content on its platform. See below for more specific details needed to check out the movie at home.
The film’s plot revolves around a deadly hostage situation that occurs after a man wins the lottery and announces his $156 million to everyone in the vicinity (at least based on the trailer—probably not the smartest move, dude!). Cloud’s character, Sterling, then pulls a gun on the ticket recipient and takes everyone around them hostage as he demands the man hand over his winning ticket. Things only get more intense from there.
- Cast: Angus Cloud, Jessica Garza, Elliot Knight, Sterling Beaumon, Mousa Hussein Kraish, Jason Wiles, Sebastian Sozzi, Spencer Garrett, and Jason O’Mara
- Director: Daniel Brown
- Writer: Daniel Brown
Your Lucky Day is on digital and VOD services
Your Lucky Day received a limited theatrical release beginning on Nov. 10 before coming to digital and video on demand on Nov. 14. That means you can rent or purchase the film through digital retailers like Amazon, Apple, and others.
- Theaters: Limited release
- Digital release date: Nov. 14 through retailers like Vudu, Amazon, Google Play, and Apple
It’s unclear if Your Lucky Day will get a physical release yet, though there is a good chance that it will as distributor Well Go USA Entertainment has released many of its films on DVD and Blu-ray, such as the recent movies Bad City and Ride On.
I recommend checking out this film if you can, especially if you are a fan of Cloud’s. He delivers a great performance alongside his cast mates, including Jessica Garza, who really steals the show. Your Lucky Day is an engaging and fast-paced film with tight plotting and some genuinely shocking twists.
If you’re looking for a similar movie that is on Netflix, I recommend The Commuter, The Gray Man or The Guilty. We’ll keep you updated if anything changes, so stay tuned to Netflix Life.


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Dollar Tree, Inc. (NASDAQ: DLTR), today announced that it will host an Investor Conference in Norfolk, Virginia, on Wednesday, June 21, 2023.
Chairman & CEO Rick Dreiling and CFO Jeff Davis will be joined by members of the Company’s executive management team to provide an in-depth overview of the Company and business segments, including growth strategies, capital allocation priorities and financial objectives, as well as the Company’s multi-year outlook.
A live webcast of the entire event, including executive question-and-answer, will begin at 8:00 a.m. Eastern Time and will be about a half-day event. Virtual registration can be accessed from the Dollar Tree 2023 Investor Conference site. A replay of the live webcast will be accessible shortly after the conclusion of the event. Due to space limitations, in-person attendance is by invitation only and advanced registration is required.
About Dollar Tree, Inc.
Dollar Tree, a Fortune 200 Company, operated 16,340 stores across 48 states and five Canadian provinces as of January 28, 2023. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada. To learn more about the Company, visit www.DollarTree.com.
Vice President, Investor Relations
SVP and Chief Communications Officer


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Three in 10 Scots have changed their spending plans because of Brexit uncertainties, according to research from business adviser KPMG.
The study, involving members of the public in towns and cities throughout Scotland, also suggest a third are actively changing how they save or invest money.
But despite the shift in behaviour, most Scots are continuing to make big-ticket purchases, with only 10% cancelling or postponing an overseas holiday, 5% putting off buying a new car and 3% delaying the purchase of a new home.
Elsewhere in the UK, Brexit wariness seems to be most prevalent in London, where almost half (48%) have postponed a big purchase or added to their savings.
Catherine Burnet, senior partner at KPMG in Scotland, said: “Uncertainty about the future economic and political prospects for Scotland has taken its toll on the business community, but our latest study suggests it’s also starting to impact public behaviour.
“It’s reassuring to see that consumers haven’t been put off big ticket purchases – from new cars to house moves.
“But, as negotiations on future trading and political relationships continue without agreement, the situation remains volatile, and consumer-focused businesses must remain agile and resilient until there is greater clarity.”


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Sen. Robert Menendez wants the federal government to hold companies accountable when their customers’ financial information is stolen.
Halloween is next week. Thanksgiving is next month. And right after that, many of us will be opening holiday gifts from our loved ones. But first, we have to shop for them.


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Service parts logistics
Russia is attempting to boost tier supplier capacity via contracts with OEMs and logistics subsidies for parts makers, but it is unclear how successful this will be
Toyota is realigning its production and service parts organisation by integrating its inbound and aftermarket supply chain departments into a new division called PDAD. Group vice-president of the new division, Alok Vaish, explains the thinking behind it
Fiat Chrysler Automobiles (FCA) has extended its aftermarket contract with Ceva Logistics in Brazil for a further four and a half years. The logistics provider moves service parts to 500 Fiat dealers across the country, providing both warehousing and transport services, and has been working with Fiat in Brazil for ...
As the EV trend continues, it raises the question of what to do with their hazardous lithium-ion batteries once they have reached the end of their useful life. Options include reuse and recycling, but both of these require special expertise in reverse logistics
Free trade zones offer many tax and logistics benefits to the automotive supply chain. DP World, with its flagship facility in Dubai, UAE, wants to expand these services in markets in the Middle East and Africa, the UK and the US
It is still very uncertain what the UK’s exit from the European Union is going to look like at the end of March 2019 but it is going to have a big impact on the automotive industry whatever it looks like. At this year’s Automotive Logistics UK summit, major carmakers ...
General Motors has stated construction of a $65m (€56m) parts processing centre (PPC) in Burton, Michigan. The development represents the company’s largest single investment in a US warehousing and logistics facility for almost 40 years and it is being managed by General Motors Customer Care and Aftersales (GMCCA).
Revenues from original automotive product sales have been shrinking for some time as customers keep assets longer but companies are embracing the latest technology to maintain a good aftersales service for the long-term financial viability of their businesses.
French carmaker PSA Group has chosen an order management system (OMS) provided by supply chain management expert KBRW to support aftermarket deliveries of out-of-stock parts to its Distrigo distribution hubs in Europe.
Kuehne + Nagel has signed a contract to run a newly built automotive service parts distribution facility near Budapest, Hungary for Federal-Mogul’s aftermarket division, Federal-Mogul Motorparts.
Logistics property developer, P3 Logistic Parks, has won a tender to build a 30,000 sq.m warehouse near Bologna in Italy for Lamborghini and Ducati.
Car clocking is a trend that is on the rise, with HPI Check reporting that in 2016, one in 16 cars were affected, an increase of 20% from 2014.
North American aftermarket parts distributor, Uni-Select, is making a foray into the UK market by purchasing The Parts Alliance from private equity group HgCapital in a transaction valued at £205m ($263m).
Icahn Automotive Group has offered $37m to buy US-based aftermarket service company, Precision Auto Care.
David Durant (pictured) has been appointed as senior vice-president for aftersales at Volkswagen America.
Automation of logistics processes is the key to an efficient automotive aftermarket supply chain.
Initially they will be offered at the 3,200 Ford and Lincoln dealers in the US, but “it will be a global business over time”, according to the company. Orders have already begun with first delivery expected in February.
Germany’s ZF has established a dedicated new aftermarket division – ZF Aftermarket – which it says is the second largest supplier of premium aftermarket parts in the world.
Autonomous vehicles will do much for road safety but their benefits will extend far beyond this, with particular gains for businesses managing fleets of mobile service engineers...


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The Series A round also included financers Aberdare Ventures, Jiff’s founding seed investor.
The company said it would use the money to deploy its social network and develop a suite of apps which facilitate health, well-being, care and community.
Healthcare technology veteran Derek Newell will also join Jiff as the company’s first CEO, it has announced.
He said, “As consumers and the healthcare sector grapple with the best uses of social media, digital health applications and mobile devices, Jiff will offer a secure and private digital health platform that is centered on the individual, not any one institution, and it is a technology that can scale to millions of users.
“To dramatically increase consumers’ engagement and ownership in their own health, we must make it easy.”
Managing partners Vince Kim from Aberdare and George Rehm from Aeris have joined the Jiff board as part of the deal.
Copyright © 2012 AltAssets


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Nestlé have announced they will strengthen their responsible marketing practices as part of its efforts to bring balanced diets within reach for people around the world, targeting under 16-year-olds in particular.
The company says it plans to voluntarily restrict its marketing to children under the age of 16 while continuing long-standing efforts to help families with establishing healthy eating and lifestyle habits.
The company’s new Marketing Communication to Children policy will prohibit direct advertising of confectionery and ice cream alongside water-based beverages with added sugars to children under the ages of 16. This reaffirms the ban on product marketing communication between children between 0 and six years of age, the company says.
The standard will be applied to TV and online platforms including social media and gaming ones with greater than 25% of their audience under the age of 16 years of age. Nestlé says it will also not collect data of minors and partner with influencers only over the age of 18.
The policy will take effect as of 1 July 2o23 and will happen globally. Coupling existing nutrition services, educational tools and recipes with additional safeguards will help give children and young adults solid foundations for building a healthy lifestyle.
As of 2023, the company will also begin reporting on local portfolios in 14 countries using government-endorsed-front-of-pack labelling systems with the intention of creating greater transparency in food and beverage and help to bring balanced diets.
As part of its global reporting commitment, Nestlé will be benchmarking its food and beverages against the Health Star (HSR) system, which is a nutrient profilling system used by the Access to Nutrition index and on front-of-pack nutrition labels in some countries. The HSR system considers total energy of a food alongside the amount of positive nutrients and ingredients and nutrients of concern including sugar, saturated fat and salt.
The policy will make Nestlé one of the first food and beverage companies to voluntarily adopt such strict standards, but regulations in the UK are getting tighter, as the deadline for the HFSS (high fat, salt and sugar) regulations have meant HFSS products (such as sugary drinks and confectionery) cannot be sold in promotional areas in stores as of 1 October 2022 and the restriction of HFSS products by volume price will come into force 1 October 2022.
This move follows on from previous steps taken by Nestlé including reducing sugar in its products by 5.1% which it says it has done since 2017, and the recent announcement to ban global marketing of children formula up to six months old which will take effect 1 January 2023.
Stay up-to-date on the latest industry news and developments in our magazine.


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Shares of Dave & Buster's Entertainment (PLAY 1.22%), Darden Restaurants (DRI 3.64%), and Brinker International (EAT 4.83%), a group of well-known restaurant companies, plunged 8.4%, 6.3%, and 8%, respectively, on Wednesday after comments from Federal Reserve Chairman Jerome Powell removed some optimism for a speedy economic recovery.
Powell's comments Wednesday made a V-shaped recovery seem more unlikely, which is obviously grim news for the badly hurt restaurant industry, where many will struggle financially with a long-term slash in revenue potential. "The recovery may take some time to gather momentum, and the passage of time can turn liquidity problems into solvency problems," Powell said during his webcast appearance with the Peterson Institute for International Economics.
He also noted that a longer downturn could "leave behind lasting damage" to the economy. The gloomy comments sent broader markets lower.
Looking specifically at these three restaurant stocks, investors will need to watch how management is offsetting the slowdown. Darden Restaurants said that fourth-quarter same-store sales through April 19 declined 44.7%, but that based on the past two weeks, its ongoing weekly cash burn improved to roughly $20 million. The company has been able to offset some of its lost dine-in crowd by pushing its to-go options.
In fact, its Olive Garden to-go sales tripled from the week ended March 1, to the week ended April 19. Over the same time period, to-go sales more than quadrupled at its LongHorn Steakhouse chain. Management also offered 7.8 million shares of common stock for $58.50 per share, and will use the net proceeds as needed to help weather the COVID-19 storm.
Brinker International, owner of Chili's and Maggiano's Little Italy, faced a similar situation as the company moved to an off-premise-only business model. Its off-premise sales have grown each week since COVID-19 began hurting the restaurant business, generating 57% of the prior year's total restaurant sales for the week ended April 22.
Brinker also bolstered its liquidity by pricing a public offering of 7 million shares of common stock at $18.25 per share, and expects the roughly $121 million in net proceeds to help keep operations afloat until COVID-19 is under control. Management estimates its cash burn to be roughly $5 million per week.
Dave and Buster's has been the hardest hit of these three restaurant stocks as the company hasn't been able to offset the loss of not only its dine-in crowd, but also its gaming revenue. The company shut down all locations and immediately halted almost all new-store construction and capital spending on strategic initiatives, remodels, games, and maintenance. It also suspended its quarterly dividend and share repurchase program and bolstered its liquidity by roughly $100 million through a stock sale to Jefferies.
Restaurant companies are doing all they can to bolster liquidity, cut costs, and offset the dine-in sales decline with innovative to-go and off-premise options. But COVID-19 will continue to put serious financial pressure on restaurants even as parts of the economy restart. Powell's comments today made a quick recovery seem more unlikely, meaning some restaurant stocks may not have the liquidity to weather the full economic impact.
While there are undervalued stocks out there, investors must do their due diligence to understand if the companies have a strong balance sheet, an ability to offset some of their dine-in crowd losses, and liquidity to keep operations afloat for a long stretch. Broader markets will almost certainly bounce back over time, but not all companies will. Invest wisely.


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UK Compliance in Data Protection and Privacy: The Latest news, comment and analysis on data protection, privacy legal and regulatory issues in the UK
2024-01-27T07:00:00+00:00By GRC World Forums
The United Kingdom remains uncertain about the implementation of a state-backed digital pound, deferring any decision until at least next year amid persisting privacy concerns.
2024-01-16T13:35:00+00:00By GRC World Forums
In a bid to address concerns over privacy, Microsoft has announced that all cloud customers will have the capacity to hold and process personal data within the EU.
2024-01-15T08:19:00+00:00By GRC World Forums
In the UK, meal kit delivery company HelloFresh is facing a £140,000 fine from the Information Commissioner’s Office (ICO) for sending millions of unsolicited emails and texts to customers.
The British Prime Minister, Rishi Sunak, has disclosed plans for the UK to house the world’s first Artificial Intelligence (AI) Safety Institute.
The UK has laid out a new set of AI use-principles designed to reduce risk, safeguard consumers and promote fairer competition between developers.
2023-09-06T12:54:00+01:00By GRC World Forums
In its bid to become a global fintech centre and financial services leader, the UK has inadvertently made itself a larger target for the financial criminals, experts argue.
2023-07-05T08:07:00+01:00By GRC World Forums
Elaph Media is a British owned MediaTech plc with a track record spanning two decades in providing online independent news, entertainment and lifestyle content to consumers in geographically underserved markets.
By GRC World Forums
2023-07-03T09:53:00+01:00By GRC World Forums
UK-based media tech and content company Elaph, which owns English and Arabic online news channel Elaph.com, has acquired Low&Behold, an independent, full-service UK-based marketing agency.
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With growing concerns surrounding the coronavirus and confirmed cases constantly on the rise, Nike is taking action to keep its customers safe.
Today, the company announced that it's closing all stores in the United States, Canada, Western Europe, Australia and New Zealand from Monday through March 27 in an effort to limit the spread of coronavirus. According to CNBC, a spokeswoman confirmed that workers will still be paid in full during the time off. Stores in South Korea, Japan, most of China, and in “many other countries” are being left open based on daily assessments of the pandemic.
Nike has 384 retail locations in the U.S. alone, including Converse and outlet stores. There's an additional 750 international locations according to SEC filings. Customers are encouraged to continue shopping at nike.com and through the SNKRS app.
The latest numbers from Johns Hopkins University have the total number of reported coronavirus cases north of 156,000, with at least 5,833 deaths.


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Over the last month alone, the UAE has made projections that 3D printed homes will soon take up of sizable portion of their housing market, the global investment group Dubai Holding launched plans to construct the International Centre for 3D Printing within Dubai Industrial City, and earlier this week, the city state also inaugurated their first-ever 3D printed office building. Now, it looks as if Dubai will soon have 3D printed laboratories at the Mohammed Bin Rashid Al Maktoum Solar Park, a solar power plan that was named after His Highness Sheikh Mohammad Bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai.
The project will be planned and constructed by the Dubai Electricity and Water Authority (DEWA), which just released an Expression of Interest (EOI) to build the 3D printed laboratories into the Research & Development (R&D) Centre of the solar park. The Emirate of Dubai views this ambitious project as a case study of sorts, one that will take the 3D printing capabilities of R&D centers located both in Dubai and across the world to new levels of advancement. The project will be constructed using 3D printing, and will be the home for further research on 3D printing technologies and drones. The planned test labs will essentially be broken down into four sections:
- The Electronics Laboratory: This lab will handle electrical design and repair services for drones, and will also provide the DEWA staff the ability to design and build customized circuits for various drone applications.
- The Software Laboratory: This section will develop and provide the DEWA team with software-based products, research, and educational systems, and will also serve as the home for tests on avionic systems, flight controls, and electric power units.
- The Mechanical Laboratory: This lab will conduct research and experiments on the behavior of and relationship between certain materials and combustion.
- The Prototype Laboratory: will develop prototypes for different products that allow engineers to further develop their ideas.
“The EOI to construct the 3D-printed labs at the solar park reflects our efforts to achieve the directives of our wise government. The Dubai 3D Printing Strategy is a unique global initiative to use technology for the service of humanity and promote the status of the UAE and Dubai as a leading hub of 3D printing technology by 2030,” said HE Saeed Mohammed Al Tayer, the CEO of DEWA.
The 3D printed construction project will also include plans for an outdoor flight-testing facility for drone research with a sensor-embedded landing area, and will also offer researchers an area to test different sensors, actuators, and systems. The DEWA envisions a number of clean energy R&D laboratories to accommodate Dubai’s expansive research on solar power, smart grids, energy efficiency research, drone research, and solar-powered desalination.
According to Al Tayer, the total investment for the project will cost around AED 500 million (approximately $136,122,960), and will complement the Dubai Plan 2021, a foresighted plan aiming to transform the city state into one of the most environmentally sustainable and technologically innovative hubs in the world. As Dubai continues transitioning into 3D printed houses, offices, and now, laboratories, the rest of us 3D printing enthusiasts around the world can only sit back in awe and watch as the Emirate of Dubai becomes a 3D printed city in and of itself. Have you been following Dubai’s 3D Printing Strategy? Discuss further in the 3D Printed Dubai Labs forum over at 3DPB.com.[Source: DEWA Press Release via ZAWYA]
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The inaugural Tesla Corsa event, which took place on October 21st at Buttonwillow Raceway, was a huge success! We had more than 20 Tesla owners who spent the day learning the ins-and-outs of their cars on track, and even more who came out to enjoy the company of fellow Tesla enthusiasts.
The primarily goal of Tesla Corsa is for everyone to have an accessible, fun, and safe time enjoying their Tesla vehicles in a real racing environment. As a result, the day began early with a driver's meeting that helped get everyone acquainted with the layout of Buttonwillow Raceway, as well as the rules for driving on a racetrack. This included classroom instruction of how the safety flag systems worked, as well as basic driving tips.
The second and third sessions gave everyone the chance to set out on the track at their own pace, with passing permitted using the "point-by" system.
Following the third session, we took a break for everyone to grab lunch, as well as head to the nearby Supercharger to top-off, if necessary.
During the break, we were joined by a few more Tesla owners, and everyone spent an hour or two chatting and getting to know each other. It was a great opportunity for fellow enthusiasts to come together and share in their passion for Tesla vehicles!
The fourth session saw the fastest lap times of the day, with many of the drivers amazed at how comfortable they had become at driving cars on a circuit!
The final session was an opportunity for anyone that came to get out on the track for a few laps; whether you signed up for the full trackday or not. This was a no-cost experience, graciously sponsored by Unplugged Performance.
At the conclusion of the day, everyone headed back to the Superchargers to "fill-up" for the drive home.
With a great turnout and the level of enjoyment had by all, we'll chalk up the inaugural Tesla Corsa event as a big success!!
We're already planning the schedule for 2019, with locations to include race tracks on the West Coast, East Coast, and the Southern United States as well as the first international events in, Canada, Europe, Asia, and Dubai.
For anyone interested in attending any future event, please make sure to sign up on our mailing list (the form is found on the homepage). List members will have early registration access and have the best chance of attending events before they sell out.
Thanks again for everyone that attended the first event!
-The Tesla Corsa Team


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With delegates from across Africa in attendance, the Africa Lions Rising event which was held at the HoneyWell Auditorium, Lagos Business School for the Africa Business Conference proved that the private sector growth in Africa is an arm of the economy that could propel and enhance Intra-African Trade.
The event facilitated a great networking hub where private, businesses, senior public sector representatives and academia were able to forge partnerships to scale their current operations across the continent and shape the Africa of present and beyond.
This year’s event shed light on key issues and opportunities in Africa’s Manufacturing, Energy, Agri-Business, Fashion, ICT, Media & Entertainment and Solid Mineral sectors.
Keynote speaker, Rod Glover Blondin, renowned Economist and Advisor to Africa Exchange Holdings, spoke about trading and creating value across Africa, he said; “African businesses need to put in both economic and social prosperity – Africapitalism. We need to put in a sustainability index, to be a part of social capitalism and do our business with integrity; all these pay off in the end”.
He went on to add; “As private sector proponents, we need to actively voice our concerns, put forward solutions and suggestions, work with the public sector (not for them) and do not fight corruption with corruption”.
Actress Genevieve Nnaji, Audu Maikori of Chocolate City Records and Sam Onyemelukwe of Trace TV were also present to shed light on how the booming entertainment industry was helping to grow the African economy.
The second instalment of African Lions Rising proves that enhancing Intra-African Trade via private sector growth may be the most viable way for Africa to shed the third world economy tag.
“A decade ago, Africa resembled the Asia of the 1960s, a jumble of undemocratic regimes, broken by conflict and poverty, with few prospects for progress. Today the story is different, Africa is one of the fastest-growing continents on Earth!” ~ Unknown


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China's retail product sales returned to growth for the first time because the coronavirus outbreak, within the latest sign that consumer investing was catching with the united states's wider financial data recovery.
Official information introduced on tuesday revealed a growth of 0.5 % in august compared to the same thirty days last year. economists had anticipated that retail sales is flat.
Customer need is a poor place in asia's recovery through the coronavirus outbreak, which has been fuelled by state-supported industrial development at a time when households stayed cautious over spending and danger of new outbreaks.
Retail sales have actually fallen on a monthly basis this season before august and are however down 8.6 per cent for 2020.
Its moving in just the right course but theres quite a distance to visit characterise this as a well-balanced economic climate, said fred neumann, co-head of asian economic research at hsbc. mr neumann pointed out that product sales stayed down on an inflation-adjusted basis.
Underneath the surface theres nonetheless enduring scars from pandemic...it takes some time government plan to heal those scars, he added.
Chinas data recovery is being closely viewed by other countries nonetheless grappling with high rates of disease and substantial lockdown measures.
Manufacturing manufacturing dramatically outperformed retail sales in august, growing 5.6 % compared to the same thirty days this past year, and is now up 0.4 per cent in 2010. residential property investment features increased by 4.6 % year-to-date in contrast to last year.
The commercial data aided to buoy chinese shares into positive area on tuesday while its money struck its highest degree in more than a-year.
The onshore-traded renminbi strengthened up to 0.3 percent to rmb6.7897 per united states dollar early tuesday, its firmest amount since might 2019. the less firmly controlled offshore-traded renminbi strengthened 0.3 percent, past rmb6.8 per dollar.
Chinas economic climate gone back to growth in the next quarter, when gross domestic item included 3.2 per cent after a historic decrease in the first 3 months of the season.
The data recovery gained momentum after new instances of the virus slowed down to a trickle and federal government infrastructure tasks aided to support financial activity.
It has been supported by powerful development in exports, which rose virtually 10 per cent in august their highest enhance of every thirty days this year. house costs have proceeded to rise.
Oxford economics, a consultancy, proposed that chinas economic recovery ended up being on a fairly fast ground today and should continue through q4 and into 2021, with solid investment growth, gradually recuperating consumption energy and resistant exports.