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The #YoungCreators virtual event organised by the Malaysia Digital Economy Corporation (MDEC) will see the launch of a new platform to nurture creative digital skills of youths in the country. Placed within MDEC’s on-going #SayaDigital movement, the #YoungCreators will provide an opportunity for young and budding content creators to learn how to leverage digital platforms as a means to upskill, empower creativity and generate income. Programme participants can strengthen their capabilities and visibility on a regional or international stage. Featuring top influencers, talents and industry giants within the creative space, the two-day event will be highlighted on 28th and 29th August 2020.
Chalking up another first, MDEC has partnered with TikTok, Snapchat, Binumi to leverage on a strong core group of influencers who will share their experience, insights and advice. Providing a “platform” to participants to power their content creating efforts and monetisation goals, the interactive sessions will also discuss how to leverage digital and social media platforms and leading technologies such as Augmented Reality (AR).
The highlight of the event is the Creative Content Challenge with cash rewards and certificates given by TikTok to #YoungCreators’ winners. From this, ten young creators will then be chosen to be inducted in a 12-month Creators Network Programme conducted by CastingAsia. To participate in this challenge, all Malaysian TikTok users aged 16 and over are encouraged to upload original informative and educational videos using the hashtags #YoungCreators and #TikTokGuru from 22nd to 31st August. Each video must be at least 10 seconds long and the themes include general knowledge, technology, health and fitness, beauty, culture and life hacks.
MDEC’s Chief Executive Officer Surina Shukri believes that despite the ongoing global pandemic, Malaysian digital content creators have been far ahead of the curve when it comes to digital adoption.
“The journey is just starting. With the global pandemic threatening jobs and the overall economy, we have a chance to cushion that blow by empowering the younger generation to embrace digital technology to enhance their creativity and monetise their creations as a sustainable form of living, which speaks to the country’s aspiration to achieve inclusive growth and shared prosperity for all. Today, we are living in the new normal and we believe by partnering with vibrant industry players like TikTok, Snapchat and Binumi, the #YoungCreators initiative will serve as a platform to encourage youngsters to trust in their own creative spirits and make a name for themselves, not only in Malaysia but also globally,” said Ms. Shukri.
This is also in line with MDEC’s agenda to accelerate participation of the younger generation and to enable digitally-skilled Malaysians during a time where digital transformation is no longer a choice but a necessity.
“TikTok Malaysia is thrilled to be a part of the #YoungCreators initiative together with MDEC. We are excited to see the creative extent of Malaysian youth in producing informative, educational and entertaining content for their peers and fellow Malaysians to enjoy. We believe that learning does not end with school, and is a lifelong endeavour, made all the more fun with innovative technology which is safe, positive and inclusive!” Cheah Sheau Mei, User and Content Operations Manager, Malaysia elaborates.
Anthony Copping, the Founder & CEO of Binumi said the company is very excited to be working with MDEC on the #YoungCreators initiative. It is vital in the new digital economy for the new generation of storytellers to utilise the power of video.
“We are delighted to be partnering with MDEC to give more Snapchatters in Malaysia the opportunity to explore the world of Augmented Reality (AR) and to have fun communicating visually with close friends and family. As digital transformation becomes a key focus, we want Malaysian youths to be empowered to create AR experiences of their own through Snap’s Lens Studio desktop app,” said Nana Murugesan, Managing Director, International Markets, Snap Inc.
In conjunction with the recent International Youth Day, MDEC partnered with SnapChat and Celcom to provide Malaysian youth with greater access to the digital world and embrace fun digital lifestyles.
Idham Nawawi, Chief Executive Officer of Celcom Axiata Berhad said Celcom’s continuous collaboration with MDEC through various initiatives across industries, allows Celcom to bridge digital innovation and drive rapid digitalisation adoption to all walks of life in Malaysia, elevating the nation’s digital ecosystem.
#YoungCreators is expected to reach an audience of around 1,200,000 over a week-long programme with exciting contest for youth. “We are confident that at the end of the programme, the initiative would help generate a rising new crop of Malaysian content creators of the highest quality,” Surina concluded.
#SayaDigital movement is a month-long national programme organised by MDEC to create awareness, adoption and advocacy of digitalisation to further promote a digitally-skilled Malaysians and digitally-powered businesses in Malaysia.
Malaysia is home to a rapidly maturing digital creative industry which includes animations, movies, and video games. It has proven to be a significant growth driver within the national economy and has the potential to shape the country’s growing digital economy. In 2018, the industry created 11,590 jobs, raked in RM7.9B in revenue as well as RM1.42B in export sales. Malaysian-grown animation and video games like Upin and Ipin, Re:Legend, King’s League II, BoBoiBoy and Ejen Ali are well known internationally and inspires global confidence in the local digital creative content industry.
Full event schedule, list of speakers and additional details for the #YoungCreators can be found at mdec.my/young-creators/.


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European Union banks should shun virtual currencies such as Bitcoin until a system of rules to prevent abuses are put in place, according to the bloc’s top banking regulator.
LONDON — European Union banks should shun virtual currencies such as Bitcoin until a system of rules to prevent abuses are put in place, according to the bloc’s top banking regulator.
The European Banking Authority called on the EU to develop safeguards for trading platforms and start groups to oversee each Internet currency to ensure that no individuals can manipulate “the integrity of a particular virtual currency scheme and its key components,” according to a statement today. In the meantime, banks shouldn’t buy, hold or sell virtual currencies.
Virtual currencies have come under increased scrutiny from regulators and prosecutors around the globe. Mt. Gox, once the world’s biggest Bitcoin exchange, filed for bankruptcy in Japan earlier this year amid claims it lost 850,000 Bitcoins. China’s central bank barred financial firms from handling virtual currency transactions last year.
“Regulators have become alert to the potential for fraud and disruption,” Richard Reid, a research fellow for finance and regulation at the University of Dundee, Scotland, said by e- mail. “Such attention from regulators is bound to curb the growth of markets such as Bitcoin.”
The European watchdog identified more than 70 risks linked to the currencies, including their vulnerability to crime and money laundering. The EBA said it was concerned that “anyone with a sufficient share of computational power” can anonymously exploit flaws in virtual currencies.
“Based on this assessment, the EBA is of the view that a regulatory approach to address these risks would require a substantial body of regulation, some components of which would need to be developed in more detail,” the regulator said.
Bitcoins emerged in 2009 out of a paper authored under the pseudonym Satoshi Nakamoto. Since then, retailers selling items from Gummi Bears to luxury homes have started accepting bitcoins, and new companies have begun offering ways to ease its use as a payment system.
Bitcoin gained credibility after law enforcement and securities agencies said in U.S. Senate hearings that it could be a legitimate means of exchange. The price of Bitcoins topped $1,000 as speculators anticipated broader use of digital money.
The price has since dropped to about $643.50 on Bitstamp, an online exchange based in Slovenia. It would cost around $8.4 billion to buy all the Bitcoins in existence, according to Bitstamp.
In the U.S., bitcoin and other digital currencies will receive more attention from the Consumer Financial Protection Bureau after prodding from a congressional watchdog.
The Government Accountability Office, the investigative arm of Congress, wrote in a confidential report in May that the bureau, created by the 2010 Dodd-Frank financial regulatory overhaul, needed to become more active in developing U.S. digital-currency policies. In a written response, the agency agreed.
“We’re looking forward to increasing our involvement in formal working groups as they engage on specific issues relating to consumer protection,” William Wade-Gery, CFPB’s acting assistant director for card and payment markets, wrote in a May 6 letter to the GAO.

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Ministry of Textiles sides with industry against proposed GST hike
The Ministry of Textiles has decided to approach the Goods and Services Tax secretariat to ask for a return to the previous GST rate of 5% for clothing and textiles instead of the proposed hike to 12%.
The ministry heard representations from numerous industry bodies and agreed with them that hiking the GST rate on certain categories of clothing and textiles to 12% could cause economic hardship for businesses and push up prices, which would in-turn cause problems for consumers. The ministry will, therefore, ask the GST Council to refrain from raising the rate in January 2022 as planned, CNBC-TV18 reported.
“The industry is of the view that textile fabric manufacturers or fabric weavers will see a significant rise in their working capital requirements due to the disparity, as raw material will be taxed at 5% and the finished product will be taxed at 12%,” said a source in the Ministry of Textiles’ report, ET Bureau reported. “So, they are seeking a restoration of the old rate of percent.”
The Ministry of Textiles, “feels that the industry needs relief,” officials told CNBC-TV18. “Any decision which adds to their troubles needs to be flagged. So, our communication to the GST secretariat is very clear- maintain status quo on rates and make any change only after a detailed discussion with the ministry and the industry stakeholders.”
Earlier in the week, Union Minister for Finance Nirmala Sitharaman assured textile industry players that she would address the rates for the sector at the next GST Council meeting. Trade bodies including the Retailers Association of India and the Federation of Hosiery Manufacturers Association of India among others have requested the government scrap the new rates.
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LG Electronics has officially given up smartphones, but its very last project -- the first rollable smartphone -- will see the light of day, even though it will not be for sale.
The South Korean firm confirmed Monday that it is considering producing a limited volume of Rollable phones for internal use.
“Development of the Rollable was completed before the management’s decision to end the phone business,” said a company official. “The exact timing or volume of the phone’s release hasn’t been confirmed.”
About 100 to 200 phones may be released, the official added. They may be given out to a select group of executives and employees.
The Rollable project was aborted when the company decided in April this year to exit the smartphone business after it incurred losses of over 5 trillion won ($4.4 billion) over the past five years.
It was set to become the firm’s most innovative and advanced phone. It would also have been the world’s first smartphone with a flexible and expandable display.
LG gave a sneak preview of the Rollable at the Consumer Electronics Show early this year before the smartphone pullout. According to the teaser, its 6.8-inch OLED screen can be stretched to 7.4 inches.
LG is set to end the production and sales of all smartphone products July 31. After-sales services for current LG phone users will be offered for four years and software upgrades will be available for three years.
By Song Su-hyun (email@example.com


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This week, Tableau published its Top 10 Business Intelligence Trends 2018 report and, much like the return of the Pumpkin Spice Latte at my local Starbucks and the twinkling of Christmas lights on every high street, it's a timely reminder that the year is drawing to a close and 2018 is just around the corner.
The report provides an insightful perspective on the emerging technologies and trends that will come to the fore over the next 12 months. I encourage you to read the report in full. If, however, your Pocket is bursting at the seams with white-papers and reports you haven't quite gotten around to reading, I've distilled down the key points in a blog-friendly format. I hope you find it helpful.
While it's no surprise to see AI topping a trends list, it's encouraging to see Tableau going beyond the buzz and developing a more rounded vision of how these technologies will fit into the modern workplace. The Tableau vision for AI, according to the report, is as the ultimate “analyst's assistant”, enabling them to spend less time crunching numbers and more time thinking about how to apply insights to their business.
Key stat: By 2020 AI will create 0.5 million more jobs than it eliminates (Gartner)
As someone with a humanities background who moved across into tech this struck a chord with me. Companies will place higher value on hiring workers with Liberal Arts backgrounds to analytical roles, as skills like storytelling, persuasion and empathy become equally or even more important for data workers than pure technical skills.
Key stat: Liberal arts grads are joining the tech workforce 10% more rapidly than technical grads (LinkedIn)
Natural Language Processing “will grow in prevalence, sophistication and ubiquity” in 2018, the report says, becoming a key interface between business users and analysts and their data. A hint at exciting things to come in future versions of Tableau?
Key stat: By 2020 50% of analytical queries will be generated via search, NLP or voice (Gartner)
Enterprises will move towards implementing multi-cloud enterprises, leveraging combinations of tools like AWS and Azure rather than tying themselves to one platform. This brings benefits of flexibility but also risks around governance, technical expertise and workload demands.
Key stat: 70% of enterprises will be implementing a multi-cloud strategy by 2019 (Gartner)
Organisations will continue to move BI responsibilities (data governance, building analytical models, and so on) away from CIOs and towards CDOs (Chief Data Officers). CDOs will be highly outcome-focussed and strategic and will wield increasing power within their businesses.
Key stat: By 2020, 50% of leading organisations will have a CDO with similar levels of strategy influence and authority as their CIO (Gartner)
As self-service analytics expands access to data, new and innovative ways of implementing data governance will emerge. Top-down processes controlled by IT will, says the report, be replaced by collaborative processes that draw on expertise of the whole business.
Key stat: 45% of "data citizens" say less than half of their reports have good quality data. (Collibra)
With the cost data breaches becoming an increasingly visible financial risk for companies, an industry will emerge providing cyber and privacy insurance to cover liabilities for data breaches, the report predicts.
Key stat: Only 15% of US companies have an insurance policy for their data (Ponemon)
Demand will rise for data engineers who can design, build and manage a businesses' operational and analytical databases in a way that supports growing numbers of self-service analytics users.
Key stat: Analysts can spend as much as 80% of their time cleaning and preparing data (TechRepublic)
The ability for more and more IoT devices to report location data will drive growth of “location of things” analytics, using technologies like Bluetooth Low Energy to enable hotels and stores to track and report on the location of people and assets within their buildings.
Key stat: IoT endpoints will grow to 30 billion by 2020 (IDC)
Universities, say Tableau, will offer many more courses in data science and analytics in 2018 as demand for graduates exceeds expectations.
Key stat: 40% of managers have trouble hiring analytical talent (MIT)


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For a few years now, there has been plenty of hype and speculation surrounding the much-anticipated arrival and rollout of 5G networks into the consumer market. But 2021 is poised to be the year where network readiness and 5G’s widespread availability will align perfectly and hopefully exceed our expectations. Initially, the European Commission set its sights on a commercial large-scale rollout of 5G across all EU Member States by the end of 2020. However, the world had more pressing matters to deal with last year and preliminary 5G networks were disappointingly slow. But 2021 is the year the hype is expected to come to fruition as rollout has caught its second wind.
So what opportunities are on the horizon as we begin to witness the incremental rollout of the world’s fastest, most unprecedented internet network?
In order for us to truly understand and appreciate the capabilities of 5G and its imminent global impact, we must first differentiate it from its predecessor.
4G enabled our smartphones to become mini-computers, allowing us access to stream digital content with ease from anywhere in the world. At the time, it was a perfect fit for our needs. But with the recent advancements of technology, particularly in the cloud and edge computing space, our global bandwidth and connectivity highway has come under enormous strain. A new generation of powerful networking capabilities was required to keep up with modern demands and usher in a new era of global digital reach.
5G is the next (fifth) generation of wireless network technology that has the power to fuel innovation and transform the way we live, work, and play. With 5G, high amounts of data can be transmitted far more efficiently than 4G LTE. That means faster download speeds (up to 100 times faster) and support for more connected devices than ever before. While 4G catered to connect smartphones, 5G connects any and all internet-ready devices, from robots to IoT devices.
Thanks to 5G’s mix of high-, mid-, and low-band radio frequencies to connect devices, the network is much faster and has higher capacity than previous generations. This means more devices are able to connect without sacrificing the performance of another, as is the case with 4G LTE. Additionally, 5G network antennas use considerably less power than previous iterations.
One of the most notable differences between 4G and 5G is the latter’s ability to slice networks. According to Ericsson, portions of the network can be tailored for specific purposes and can act as its own independent network. Each slice can optimise the functionalities required for a specific service without wasting resources on things it doesn’t need.
Thanks to its low latency, 5G has the potential to benefit us in a variety of ways, including everything from entertainment and gaming to education and public safety. According to T-Mobile, 5G promises to deliver faster download speeds, real-time responses, and enhanced connectivity, giving businesses and consumers the potential to experience new, innovative technologies.
With increased access to 5G networks that support faster download speeds and reduced latency, new content formats will likely emerge that rely on high-quality video content being streamed. Video will naturally experience an explosion across all major industries as it will be far more accessible than ever before. Not only in the consumer entertainment arena where games and video streaming platforms will take center-stage, but businesses and governments will implement video in a variety of new and innovative ways to sell, educate, onboard, and engage with audiences.
VR and AR will experience a boom in popularity, and many industries will leverage these technologies further. This will no doubt have a key effect on consumer behaviors, as more people will utilise smart devices capable of utilising 5G’s power. Live streaming will quickly become the norm and businesses will leverage this technology to reach wider audiences on a level never experienced before. Video will become ubiquitous as the hindrances which once stood in its way will soon be overcome thanks to technology.
5G is empowering innovative thinking as it speeds up computing and processing power at the network edge. Lightening-fast connectivity speeds and data transferring will now be able to be performed at the very edge of the network (devices and sensors). This means faster real-time data processing on a large-scale, allowing for IoT speeds never experienced before, opening up many possibilities.
The potential for innovation through digitisation is huge within the healthcare industry, and this will be accelerated through the introduction of 5G technology. 5G technology will also allow for real-time access to health data, the use of wearable technology, and even bring closer the reality of remote surgery. Through AR and VR, 5G can assist with the training of medical professionals remotely.
5G will enable the constant communication between ubiquitous sensors to power not only IoT devices but entire smart cities. Road signs, street lamps, traffic lights, and transportation will be operating at unprecedented speeds, allowing for faster data-processing and improved service to people. Self-driving cars will benefit a lot from faster connectivity speeds and no latency, creating safer streets.
There is no doubt that 5G will positively impact all major global industries and businesses in the years to come. Many benefits we will only likely see in the coming years. As the world moves decisively more towards a digital ecosystem for almost every need and requirement, the only thing that was previously standing in the way was speed. But with 5G, speed is not going to be a problem, which opens up a plethora of opportunities and possibilities for us in the coming years. We can’t wait to see the result!
An executive’s guide to AI and Intelligent Automation. Working Machines takes a look at how the renewed vigour for the development of Artificial Intelligence and Intelligent Automation technology has begun to change how businesses operate.


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Tyson Foods, the US meat producer, has exited its investment in Beyond Meat, the alternative protein company which is due to go public at the start of May.
Beyond Meat on [April 22] said it is aiming to raise as much as $184m with an initial public offering [in May 2019] that will value it at more than $1bn. Tyson had a 6.5 per cent stake in the California-based company before its sale.
Tyson said it was “pleased” with its investment in Beyond Meat and had decided the time was right to exit. “Beyond Meat provided an early opportunity for Tyson Ventures to invest in plant-based protein products that many consumers are seeking. We wish the leadership of Beyond Meat all the best.”
The stake sale comes as the meat company is planning to launch an alternative protein product later this year.
Read full, original article: Tyson sells stake in Beyond Meat ahead of IPO


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Market demand for innovative products and services has been pushing fintech innovation in South Africa.
In respond to the rapid development of fintech, the South African Reserve Bank (SARB) established a three-man fintech unit in January to monitor the impact of new technology developments on the traditional banking sector. The dedicated full-time team is reporting directly to deputy governor Francois Groepe.
“Its primarily responsibilities are expected to include the facilitation of the development of appropriate policy frameworks for the SARB across the fintech domain,” Groepe explained.
“Given the rapid developments in financial technology it is evident that we are potentially facing one of the most severe innovation and technology-driven disruptions to products and services, particularly in the financial sector space.”
South African regulators have adopted a pro-innovation stance. In 2009, the SABR issued a position paper on electronic money, stating that it welcomed innovative digital solutions. A media statement was released in February 2018 in which the SARB shared its stance towards fintech innovations. This was followed shortly by the launch of the Fintech Program, an initiative focused on tracking and analyzing fintech developments and assisting policymakers in formulating legal frameworks.
The program has three primary objectives: review SARB’s position on cryptocurrencies to formulate a policy framework and regulatory regime, investigate and decide on the applicability of innovation facilitators for SARB, and launch Project Khokha, which will experiment with distributed ledger technologies (DLT).
Fintech in South Africa
South Africa has a relatively small but growing fintech industry with players mainly focused on five key banking functions: payments, deposits and lending, capital raising, investment management and market provisioning.
In the peer-to-peer lending space, South Africa is already one of the leading African markets for both consumer and business loans. Notable players include RainFin, an online lending marketplace for corporate institutions and, PeerFin, a peer-to-peer lending platform.
South African online alternative finance platforms raised US$15 million in 2015, with the most of the amount (US$13.8 million) coming from peer-to-peer consumer and business lending. The remaining US$1.2 million was spread across microfinance, donation-based and reward-based crowdfunding.
South Africa has also seen the establishment of digital and challenger banks in recent years that are looking to serve the digitally-savvy populations. These include Discovery Bank, Bank Zero and TymeDigital, by Commonwealth Bank South Africa which has yet to launch.
In the field of investing, asset and wealth management, activity has been minimal. Nevertheless, South African financial services providers are seriously looking into robo-advisor and artificial intelligence (AI) to provide affordable and more efficient financial planning services.
Several financial services providers have invested in developing investment advice platforms driven by AI. Itransact, an authorized financial services provider, launched its automated investment platform ItransactGO in May 2017, robo-advisor platform Advicement went live in June 2017, and Absa, one of South Africa’s largest banks, unveiled its robo-advisory service Virtual Investor in August 2017.
Another area that’s been growing rapidly is blockchain with significant industry-led activity around DLT, cryptocurrencies and related technologies.
Meanwhile, startups such as Custos Media Technologies, Bankymoon, and GeoPay are using blockchain and cryptocurrencies to address specific issues. Custos Media Technologies was founded in 2014 with the aim to fight online media piracy using blockchain, Bankymoon is a blockchain consultancy firm and blockchain-based solutions provider, and GeoPay offers blockchain-based international money transfer services.
Cryptocurrencies are currently not regulated but South African regulators have had a positive attitude towards these technologies.
SARB began to work with Bankymoon in July 2017 to test out a number of new cryptocurrecy regulations in the country, and earlier this month, the South African Revenue Service (SARS) released a statement on tax treatment of cryptocurrency gains.
Startup programs and events
The rise of fintech in South Africa can also be seen in the number of accelerators and incubators available across the country. Startupbootcamp Cape Town, for instance, focuses on accelerating high-growth startups in blockchain, connected-devices, payments solutions, capital markets, asset management, and many other areas. Startupbootcamp launched its Cape Town program last year.
Additionally, an increasing number of tech and fintech events are being held in South Africa, including the African Angel Investor Summit, BCX Disrupt, and more recently the Blockchain Africa 2018 conference, to name but a few.
In June 2018, Johannesburg will be welcoming the Finnovation Africa: South Africa 2018 event which will bring together industry leaders from key markets across Africa and internationally to tackle the most pressing questions for the progress of fintech in Africa.
In November 2018, Finovate Africa will take place in Cape Town and bring together the financial institutions, telecos, and fintech companies that are building the future of banking and financial services.
This article first appeared on fintechnews.ch.


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Pet ID tag and platform provider PetHub has closed a Series A investment round taking its total funding so far to US$1.7m, the Puget Sound Business Journal reports. The company’s NFC-enabled pet tags are now available in 1,000 US and 400 European stores.
- One in five US mobile phone users made a mobile payment in 2014
- NFC wristbands to help swimmers track performance
- TEB to roll out HCE payments in Turkey
- Jameson serves up 25,000 NFC stubby holders
- ANZ to add HCE payments to mobile banking app


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A team of International Monetary Fund specialists have concluded their latest visit to Turkmenistan and returned with some sobering observations on the state of the energy-dependent nation’s economy.
One key takeaway from a statement issued on December 6 is that the government will have to adopt greater measures to compensate for the expected persistence of low prices for oil and gas.
“Hydrocarbon prices remain low and trading partner growth is muted. As a result of these external factors, Turkmenistan’s overall economic growth has slowed down,” the IMF mission said in a post-visit statement.
These confluence of developments means that Turkmenistan is spending beyond its means, and that this trend is worsening.
“The current account deficit is expected to widen significantly in 2016 as a result of lower energy revenues, and in spite of an active policy effort to substitute imports with domestic production, promote exports, and reduce public investment expenditures,” the IMF mission said.
President Gurbanguly Berdymukhamedov has advanced import substitution as a cure-all panacea to his country’s troubles. Not that any officials have admitted there is anything wrong with the economy, which may be part of the problem, as the IMF mission implies.
“Amid multiple external policy challenges and a number of domestic reforms, stepped-up communication efforts to explain policy plans, their benefits as well as the possible side effects, would be helpful,” the fund delegation said.
Areas for improvement highlighted by the IMF mission included “increasing the efficiency of public spending,” improvement to banking regulations and taking more steps toward creating a more market-based economy and financial sector.
“The authorities’ intention to accelerate development of the private sector is appropriate and should be based on market-based principles as much as possible, so as to support growth and living standards in a sustainable manner,” the mission said.
Turkmenistan continues to report economic growth, but such figures, while faithfully relayed by the IMF, are collated in an opaque and unverifiable fashion. Living standards appear, if anything, to be on a marked trajectory of decline.
Prices for basic groceries and drugs have increased regularly throughout the year — a development that has been attributed in part to the government’s draconian currency control regime, in place since late last year. In many instances, shoppers in Turkmenistan have reported some goods disappearing from the stores altogether. The few journalists inside the country willing to report on such developments have been on the receiving end of assaults or trumped-up criminal investigations.
RFE/RL’s Turkmen service, whose correspondents have faced the brunt of that intimidation, have continued to report on the details of the prices undeterred. In an article published on December 6, the service reported that prices for candy, cookies and pastries, as well as nuts, pistachios, almonds have risen twofold over the past week. Part of this is a knock-on effect of the shortages of sugar and cooking oil. In the meantime, countless state employees are struggling as wage arrears mount.
Import substitution is touted as a solution to such price inflation, as well as the key to solving the diversification boondoggle. A growing number of processed goods — flour, dairy products, eggs, vegetables, confectionery, soda drinks and tinned fish — are being made by local companies, which are subsidized generously by the state, although it is known exactly by how much.
But if reports from shops and markets are anything to go by, local manufacturers are failing miserably to address the shortfalls.


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Good morning! Today on KGO:
– Ray Rice, Ray McDonald, Adrian Peterson, Greg Hardy…are you fed up with the NFL? Should Roger Goodell resign?
– California’s “Three-Feet for Safety” law takes effect Tuesday to keep cars three feet away from cyclists when passing. Will you have to change your driving habits?
– An eyewitness lost his job after going on TV to say the alleged Palin family brawl was like “Jerry Springer.” Is that fair?
– What are the trends from New York Fashion Week? SFGate Style Contributor Tony Bravo joins us to talk fashion for clueless men.
– Apple’s iPhone 6 and smartwatch, U2’s “free” album, and Verizon’s internet TV service: Mitch Butler joins us to talk tech.
– Remembering Sam Kinison: Bill Kinison (Sams’ brother/former manager) joins us to discuss his book and Sam’s impact on comedy.
Join the conversation 10 AM – 1 PM PST at 415-808-0810, and on Twitter at @mattraytalk.
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Spotify today announced the global launch of video podcasts. The new feature at launch will allow users, including both free users and paid subscribers, to watch the video content from a select group of creator podcasts. But unlike on YouTube, where only paid subscribers can listen to YouTube video content in the background while they do other things on their device, Spotify says its users will be able to seamlessly move between the video version and the audio. When multitasking, audio content will continue to play in the background, as you use other apps or even if you lock your phone.
The video podcasts are supported on both the desktop and mobile app — and video will serve as an additional component, not a replacement


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Growth gurus Sarah Hinkfuss (Partner) and Tina Dimitrova (Associate) from Bain Capital Ventures are our special guests as we continue our new series offering listeners a deep dive into embedded finance! How do you define it, benefit from it, leverage it, and determine whether or not it’s a viable option for your business? Not to mention, just how big can this industry get and why is it continuing to see such rapid growth? These are some of the questions Sarah and Tina help us answer.
First and foremost, how does one of the world’s leading private investment firm actually define embedded finance? According to Tina, embedded finance is defined as any financial exchange whereby a non-financial institution offers financial services made possible by a financial services company. Some examples she gives of industry leaders that fit this definition include Toast, Shopify, and bill.com. Also worthy of mention is, according to Sarah, each one of these recognizable brands started as pure play software but now have more revenue coming from the financial services they’ve embedded.
So, why has embedded finance taken off and scaled so rapidly? And, more importantly, why have payments led the charge when it comes to all the offerings under the embedded umbrella? Sarah chimes in with the top 4 reasons why payments have come first, as well as a list of contenders we have in line for the embedded space beyond just payments. Spoiler alert: Lending is the next runner up!
Tune in to hear about all things embedded finance, including just how big this already $7 trillion industry is projected to grow. We also discuss the Holy Grail of embedded insurance, the various reasons why banks will be forced to participate in the embedded ecosystem, and why the strength of fintech is also its shadow.


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Beer brand Desperados shifts to virtual events
With most experiential marketing off-limits, Heineken’s marketers are coming up with creative stop gaps that can be live-streamed.
The brewer’s Desperados beer started a series of summer virtual parties over the weekend with live-streamed sets from DJs De la Swing and Tini Gessler. Desperados is developing three more sets for later in the year.
While the virtual raves are nothing like the heady highs of being there in real life, they do fill that time slot and keep the beer in mind. It’s giving people a reason to remember what they loved pre-lockdown, said Diederik Vos, global brand director at Desperados.
That’s hammered home by the inclusion of competitions for viewers to win a party starter pack, acrobatics, and performers during the sets, with Vos keen to create settings that offer something different to the deluge of mundane video conferences people are on during lockdowns. Plans are already underway to live-stream similar Desperados events on Twitch, for example.
Ironically, experiential marketing like this could be one aspect of marketing that Heineken does more of not less during the recession. Speaking to analysts last month, the company’s CEO Jean-François van Boxmeer said Heineken would cut advertising budgets across its beers and would shift some of the residual money into activities that help its on-trade customers and reflect social distancing. Indeed, virtual events like those Desperados his hosting have the potential to foster community in a touch-fee world. They cost less than £100,000 ($120,00) and in some cases can be as little as £50,000 ($60,900), said one event organizer with knowledge of Desperados plan.
“We will continue to use the full marketing mix during these times, which also includes TV, but are efforts will continue to be stronger in experiential and digital,” said Vos. “We were already a digital-first brand through a lot of the work we’re doing on mobile and everything that’s happening now in terms of how people are consuming content will accelerate this.”
One big advantage of hosting virtual events is the scale of brand awareness and engagement if the activation is done well.
“No longer is your audience only limited to the number of people you can touch physically and those share the experience on their social channels,” said Leila Fataar, founder of cultural marcomms company Platform 13. “It [social distancing] will definitely change the way territories work in terms of global brand activation and the opportunity to globalize your brand even quicker than before.”
This doesn’t mean Desperados will turn its back on live events. The brewer has been one of the more progressive experiential advertisers for several years with immersive seasonal parties and immersive light shows tentpole events on its marketing plan. But those events may be side-lined for a while yet. Even when the lockdowns are fully lifted, it’s unlikely that most people will be rushing to mass gatherings. Both smaller and virtual events could see a rise in popularity. In turn, Desperados is introducing reworked planning processes, particularly when it comes to how to measure the success of a virtual event.
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Maybe he was just tired of getting beat in Call of Duty, but whatever caused the 17-year-old Manchester gamer to try to take revenge on the entire online network better have been worth getting arrested for.
The video gamer launched a denial of service attack on the Call of Duty network, preventing thousands of players from being able to connect to the network. After finding that its’ network had been a victim of a cyber attack, Activision, Call of Duty‘s publishing company alerted the police, who traced the attack by its’ IP address to the teen’s home.
Detective Inspector Paul Hoare of Scotland Yard’s e-Crime Unit said: “Online gaming is a major retail sector with millions of titles being sold in the run-up to Christmas worldwide. Programmes marketed in order to disrupt the online infrastructure not only affect individual players but have commercial and reputational consequences for the companies concerned.”
The gamer was soon arrested under suspicion of offenses of the Computer Misuse Act, and remains in police custody for further questioning. This goes to show even if there was no financial motivation or real reason for the cyber attack, the fact that the teen disrupted the service for thousands of users is still a crime punishable by law.


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The strategy: Change your relationship to the stuff you buy.
Years to $50,000: Eight
How to do it: Researchers at the University of Pittsburgh have found that impulse buying adds up to 30% of overall spending. Part of the problem: People subconsciously give themselves permission to buy more than they planned, padding their mental budget to account for the extra purchases they assume they'll make at the store. Stop making it easy on yourself to overspend with these behavioral tricks:
Look, don't touch.
Picking up that cashmere sweater or shiny new Android to examine it more closely increases your sense of ownership, according to researchers at UCLA and the University of Wisconsin at Madison. That makes it more difficult to resist buying.
1. Weigh your options.
Consciously ask yourself: Would I rather spend $100 on the cashmere sweater or save the money for a trip to Tuscany? Follow the lead of natural economizers who tend to focus on the opportunity cost of the cash they're tempted to part with, says Yale researcher Nathan Novemsky.
2. Make it tougher to spend.
Shop with a list, do a quick inventory of closets and cupboards before heading to the store, plan to pay in cash, and bring only that amount. Shoppers who pay in cash spend 10% to 35% less than those who pay with plastic, various studies have shown.
Mentally ballpark the total of your purchases as you're shopping, which helps you stick to a predetermined target, researchers at Cornell and Georgia Tech have found. Adopting smart shopping habits can help you cut discretionary spending on gifts, entertainment, clothes, personal care, and items for your home by a third, or $5,700 a year on average for households earning $100,000 and up.
3. Nudge yourself.
Creating separate savings accounts for specific goals and naming them -- vacation fund, holiday account -- makes it less likely you'll tap them for "unauthorized" purchases. To push yourself to save even more: Dartmouth researcher Jonathan Zinman has found that detailed reminders to save for a specific goal, via text, e-mail, or calendar alerts -- "Deposit tax refund in Roth IRA" -- can boost savings by 15%.
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|30 yr fixed||3.92%||3.92%|
|15 yr fixed||3.11%||3.05%|
|30 yr refi||3.98%||4.00%|
|15 yr refi||3.13%||3.10%|
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Sepp Blatt's resignation as his of FIFA comes just days after he was re-elected and less than a week after other FIFA officials were arrested on corruption charges. More
Congress failed to provide the powerful fiscal stimulus needed to get the economy back on its feet. More
A recycling company wants to give $100,000 back to the woman who donated a Apple I computer. More
Cities across the country are experiencing a rental crunch that's hitting tenant's wallets hard. More


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UPDATE 2015/03/23: Elon Musk announced yesterday that all Tesla cars will receive a software update in about three months that will give them 'autopilot' capability. This is not truly autonomous cars but it is a self driving car that will operate on the highway. It is happening even faster than I thought it would...
If you make a living driving a car today. You won't in 10 years.
Google's new self driving vehicle prototype is cute, innocuous and undoubtably a very good thing. It is going to radically reduce pollution, stop (just completely stop) people dying in accidents, and reduce the cost of transport to nothing.
It's also going to cause social carnage. Driving a vehicle. It's one of the last reasonably well paid jobs that requires minimal skills. And you get a sense of freedom. This entire class of jobs is going to vanish, starting in 10 years. That includes taxi, courier, truck, bus, train, delivery, etc. You know: DRIVERS.
Above are some French taxi drivers protesting Uber. They're worried about a company coming in and lowering their wages. Wait until the other shoe drops and they realise that Uber in the future won't need them at all. Ouch.
Who is going to get rich off this? Google, obviously, and whatever companies license the technology and manufacture the vehicles. Google will probably follow the same model (though not actually paying companies to use it) they used with Android. They let anyone make self driving cars following their guidelines.
The manufacturers won't necessarily be current auto companies either. Samsung or LG are just as likely to make these things as Toyota or Ford. Because they will be radically different. You don't need crumple zones, engines, or air bags in an electric car that will never hit anything. It's just 4 wheels, lots of batteries, and an AC motor. And a computer of course.
We better start thinking about a basic income quick because that's a whole lot more dudes (most drivers are men) who will be coming onto the labour market all of a sudden.
So why is it still a good thing?
Because global warming. Cheaper solar power and replacing the entire vehicle fleet with robotic electric vehicles is going to be super efficient. Cars parked on the side of the road? That's just wasted capacity when they could be out there earning you money by working as a taxi. So cars will be much more environmentally friendly and we won't need as many.
Deaths. 1.2 million people died in accidents last year. That's a holocaust every 5 years. Guns don't kill people. People driving cars kill people. Driverless cars will never have an accident. The only way you'll get injured in a driverless car is if some drunk luddite in a Jaguar deliberately drives into you.
Transport is going to be cheap and convenient. A $5,000 vehicle that can be out on the street working 24 hours a day (with a few charging breaks) will pay itself off very quickly. And then ruthless price competition will mean companies like Uber charging a thin profit margin over the cost of the electricity to run them. Getting a taxi could end up cheaper than current public transport costs. And buses might just become a public good.
It is going to be a massive social change. Probably the biggest since the original Model T came onto the scene 102 years ago and we all went nuts for cars. When it happens it is going to happen really fast. The economics just make so much sense. Hello JohnnyCab!


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EA says it's investigating claims employee sold rare items in 'FIFA 21'
Electronic Arts says it's investigating allegations an employee of the video game publisher sold rare items available in the Ultimate Team mode for "FIFA 21."
The term #EAGate was spreading through Twitter after claims surfaced of an employee allegedly selling highly-rated player cards – called Prime Icon Moments – for the soccer game's Ultimate Team.
A tweet from Twitch streamer Nick28T features screenshots from Discord and messaging apps detailing the allegations.
"So we grind/trade/open packs and can’t touch these PIM players but EA employees sell them to people secretly for $1,700?!?!," wrote Nick28T on Twitter.
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In a statement posted through the official Twitter account for EA's FIFA franchise, the publisher said it has launched a "thorough investigation" into the claims and will take action if any improper conduct is uncovered.
"We want to be clear - this type of behavior is unacceptable, and we in no way condone what is alleged to have happened here," wrote EA in a statement.
Ultimate Team is a game mode within "FIFA 21" where players buy virtual card packs featuring soccer stars from the past and present to assemble their own fantasy team. Players can buy card packs using in-game currency, which they can boost by spending real money. Cards like Prime Icon Moments are rare, which means players can spend lots of money acquiring packs to obtain them.
Both EA and fellow publisher 2K feature similar game modes in "Madden NFL" (Madden Ultimate Team) and "NBA 2K" (MyTeam).
The card-based modes have proven very lucrative for the publishers. EA said in February it posted net revenue of $1.7 billion during its fiscal third quarter off the "outperformance" of live services like Ultimate Team. In December, FIFA Ultimate Team had a record 6 million daily active players.
Follow Brett Molina on Twitter: @brettmolina23.


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It was found out which city in Romania will have the first air taxi company, this being a European premiere. The service will soon be available to customers and flights will be operated in Hungary, Slovakia, Ukraine, as well as in cities in our country. See how much an air taxi ride will cost below.
A city in Romania will have an air taxi company. In which countries will flights be made and about how much would a flight cost
Soon Romanians will be able to enjoy a unique service in Eastern Europe. Thus, with a simple application they will be able to find a plane that will transport them to the cities where they want to arrive, in the shortest time, and the prices will be reasonable, of maximum 200 euros.
Also, the city where the air taxi company will operate is Satu Mare, the International Airport being the place from where the planes will be able to take off with the passengers who want to reach their destination in the shortest possible time.
The air taxi company from Satu Mare, established with 90% European funds
According to the latest statements, 90% of the money needed to set up such a company and create such an application comes from European funds, with the remaining 10% being an investment supported by the local budget.
“In recent years I have made many trips to France, to Paris, where these leisure flights are practiced a lot. It is a bit abnormal to cover a route of 150 km in 3-4 hours or even more “, said Mihai Pătrașcu, director of Satu Mare Airport.
A private company will manage the business of the air taxi company from Satu Mare
Mihai Pătrașcu says that it will be a private company that will take care of the proper functioning of this type of air taxi service, and gradually things will change. Depending on the number of passengers on board the aircraft that will be enrolled in this program, the costs may be shared.
How much will it cost, for example, a Suceva-Satu Mare flight with the air taxi company
Last but not least, the director of the airport in Satu Mare announced that a Suceava-Satu Mare flight can be done in an hour and 10 minutes by most pilots, the fuel consumption being only 20-25 liters.


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Amcor has announced an investment in ePac Flexible Packaging, a provider of custom flexible packaging solutions.
Headquartered in Texas, US, ePac uses digital print technology to produce custom packaging for customers in sectors including dairy, snacks, coffee and confection. The company’s solutions include stand-up pouches, lay-flat pouches and rollstock.
Amcor’s investment will be in the region of $10-15 million and will include funding for one or more ePac sites. The deal will see Amcor take a minority ownership interest in ePac Holdings.
Amcor CEO, Ron Delia, said: “We are incredibly proud of Amcor’s innovation and R&D capabilities, but with our scale and global footprint we are also uniquely positioned to supplement our internal efforts with investments in complementary technologies and business models.
“Our investment in ePac is the first corporate venture-type investment for Amcor and provides a great opportunity to learn from a high-growth start-up.”
Serving thousands of customers around the globe, ePac has 18 fully operational sites and five more in development.
Amcor’s executive vice president of strategic development, Ian Wilson, added: “ePac is a truly entrepreneurial technology-driven company and has proven its ability to rapidly scale up a flexible packaging business, doubling revenues each year since its formation in 2016.
“This is an exciting opportunity for both companies to benefit from the combination of innovative technologies and business models and the deep expertise of the industry leader. We look forward to working with the ePac team and exploring opportunities to further extend this partnership in the future.”
Last year, Amcor launched what it claimed was the first recyclable vacuum shrink bag for fresh and processed meat, poultry and cheese.
By Antonia Garrett Peel
Coca-Cola is unveiling a fully plant-based PET (bPET) bottle prototype, excluding the cap and label. The beverage giant has produced a limited run of 900 bottles, confirming the prototypes are recyclable within existing recycling infrastructures, alongside PET from oil-based sources.
McDonald’s and Starbucks are committing an additional US$10 million to the NextGen Consortium, an initiative aiming to improve environmental sustainability standards in the foodservice industry. Founded by investment firm Closed Loop Partners, the Consortium is investigating methods of advancing the design, commercialization and recovery of packaging materials.
Hortifrut is purchasing Atlantic Blue for US$280 million. Atlantic Blue is a key player in the growing and marketing of berries in Europe and Northern Africa, based in Huelva, Spain. The transaction will allow Hortifrut to expand its growing area by about 20% and consolidate its position as the largest fresh blueberry platform in Europe and the UK.


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Satyam Sale: Work in Progress
Kiran Karnik, chairman, Satyam Computer, said the sale of Satyam is a work in progress, and added that the board was happy that Satyam, in some sense, is being re-born.
"We have seen the culmination of the bid process overseen by Justice Bharucha ratifying the process… the next step is the board making the recommendation, and the Company Law Board (CLB) taking its decision after which the transfer of ownership will take place…"
He thanked the government for being very prompt, and letting the board function independently… "As the board took over, we had great support from advisors. Goldman Sachs has done a tremendous job. There are, of course, the customers, and a vast majority of them have stayed with Satyam. This is because of the staff who have done a phenomenal job… who have continue to work with them given the fact that the trauma they and their families went through.
"I do want to acknowledge the time put in by other board members. They have put in a lot of time for Satyam apart from their other work. This is just to show how corporate India has stepped in to help the government."
Board member Deepak Parekh said the work on re-stating the accounts is also still work in progress. Parekh said: "The two accounting firms are still at their job. They are re-stating accounts for the last five years. It will take a few more months."
Karnik added that the vast majority of Satyam customers stayed on with the company.
Satyam had 48,000 employees at the end of Q4.
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Oct 02, 2023, 10:06pmUpdated 4h ago
The state of New York’s tumultuous rollout of recreational cannabis dispensary licenses has caught the attention of the state Senate Investigations and Government Operations Committee.
The committee now wants to find out why the Office of Cannabis Management and its board – the Cannabis Control Board – have not been able to fully open up the market by now.
“They can’t stick it out another week, let alone another year,” said Simon Kennedy, an expert grower who’s handling two one-acre crops for two licensed cannabis farmers.
Kennedy agrees an independent inquiry may be necessary, but does not directly blame the OCM for the current state of the state’s cannabis industry.
Kennedy said he and other growers are struggling because of a court injunction that has frozen the industry, leaving just 23 dispensaries to sell to; and a growing illegal market.
“I think about 30% of the farmers didn’t grow this year,” he said, “and next year none of them will grow if this continues. The industry is in a mess.”
“This is going to be a many-hours-long hearing,” investigation committee chairman state Sen. James Skoufis said Monday morning in a Zoom interview.
Skoufis said he wants


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Samsung Galaxy F12 has been listed on Geekbench ahead of its India launch on April 5. The benchmarking site suggests critical specifications of the upcoming phone. The Samsung Galaxy F12 has also been listed on Flipkart, which indicates that the phone will be available for purchase via the e-commerce site soon after its launch. The Flipkart listing of the phone also reveals vital specifications, including a 6,000mAh battery and a quad-camera setup at the back with a 48-megapixel primary sensor. Samsung Galaxy F12 is also confirmed to feature a 90Hz display.
The upcoming Samsung Galaxy F12 has been spotted on Geekbench with the model number SM-G127G. The phone is listed to run on Android 11, pack 4GB of RAM, and be powered by an Exynos 850 SoC. The phone is also listed on Flipkart with the same Samsung SoC. The Samsung Galaxy F12 was first spotted on Geekbench by NashvilleChatterClass.
The Samsung Galaxy F12 has been listed on Flipkart with renders and critical specifications. The Samsung Galaxy F12 is seen to have a waterdrop-style notch and a slight chin at the bottom. The phone has a square-shaped module at the back and a patterned back panel in shades of Blue.
The phone has been teased to feature a 6.5-inch HD+ Infinity-V Display with a 90Hz refresh rate. It is said to also pack a 6,000mAh battery. The phone is listed with a quad rear camera setup with a 48-megapixel primary sensor. The Samsung Galaxy F12 also appears to have a USB Type-C port and a 3.5mm headphone jack.


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If I had to pick a metal that would win the “cloak and dagger award,” I’d pick tantalum. Tantalum pricing information remains elusive, held in the hands of a few key producers and buyers (and a few traders). Any data published on tantalum pricing via some sort of formal index comes from some of these traders.
We don’t know if the traders sell “conflict-free” tantalum products or “transshipped conflict material” (which I will come to momentarily), so reading the press on tantalum might lead a buying organization down the wrong path. We take note of a recent story that appeared in Resource Investing News, commenting that, “so far in 2012 tantalum prices have seen significant reductions compared to 2011, with prices ranging between $100 and $120.”
The first half of the article explains the logic behind falling the prices, citing weak demand driven by higher prices in 2011 on the back of demand for conflict-free material (effectively shutting out conflict tantalum) and the natural de-stocking/re-stocking life cycles that create upward price pressure.
So far, so good — but the second part of the article reports some comments made by David Hendersen, president of trading firm Rittenhouse International Resources, identifying a 650,000-pound tantalum surplus this year. In addition, Daniel Perisco, vice president of strategic marketing and business development at Kemet, states in the RIN piece that “high-cost material exists in the supply chain and will take some time to work off because demand is not there.”
Demand Destruction a Big Concern?
Shhh…apparently the big thing “not” to talk about in tantalum circles involves doing or saying anything that may (negatively) impact the demand picture. “Part of the theatre of the ITTC (International Tin and Tantalum Conference) is to never talk about shortages of supply so that the end users will feel there is no issue with designing in tantalum,” said Chris Grove, director of communications at Commerce Resources, a junior tantalum mining firm, in an interview with MetalMiner.
Though the industry may have concerns about “demand destruction,” engineers rely on tantalum for a variety of reasons. A robotic engineer at a medical device manufacturer told us,“I do know that they offer the best performance-to-size ratio, and that they are critical in all of our modern electronics. The alternate options are typically physically larger and/or have lower performance.”
The reality around the tantalum supply situation, according to Grove, is “most tantalum in 2009 and 2010 came from the DRC. Many keep two years’ worth of stockpiles. Capacitor manufacturers, for example, keep on hand two years of materials because they want to maintain their negotiation leverage with the key processors – Cabot Corporation and HC Starck GMBH.” Grove also said, “many end users signed contracts at a premium, even though no real price increase existed.”
Grove believes the soft prices reported in the press relate to the spot market for material that does not comply with Dodd-Frank (e.g. Section 1502-Conflict Minerals). “Compliant material is likely all fully contracted out,” he said.
Grove also backed up his assessment of what has happened to demand and prices by mentioning the flood of new tantalum offers from countries that previously never supplied tantalum — e.g. Sierra Leone, Nigeria and China (China does not mine tantalum in any meaningful quantities, according to 2012 USGS data) — casting further doubt on whether the material currently floating on the spot market represents conflict-free material.
Despite some of the shorter-term ups and downs of the tantalum market, particularly in light of the conflict minerals legislation and a bullwhip effect, others believe the market for tantalum may remain a little tight. Buying organizations considering materials from countries that typically don’t produce tantalum might wish to consider the sage words, “Buyer Beware.”


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The District of Columbia is suing food delivery company Grubhub in a lawsuit filed Monday, in which it accuses the company of “deceptive marketing practices” such as excessive fees, outdated restaurant prices and the false advertising.
DC Attorney General Karl Racine said in the complaint that Grubhub often misrepresents what is offered on the app and website.
To start, he said, Grubhub lists more than 1,000 “partner restaurants” available for delivery in DC that had no contract with Grubhub, and added the restaurants to the platform’s directory without owners’ consent.
“This deceptive conduct had a significant impact on consumers in the District of Columbia, as menu offerings, prices, and hours from non-partner restaurants were more likely to be outdated or incorrect, and there was a greater likelihood that orders from these restaurants would take longer to fill, be filled incorrectly, be delivered cold, or ultimately be canceled altogether,” the complaint states.
In response, Grubhub officials dismissed the charges, adding that they were in accordance with district laws. The Chicago-based company said some of the practices cited by the lawsuit have been discontinued.
“We will aggressively defend our business in court and look forward to continuing to serve DC’s restaurants and restaurants,” the company said in a statement reported by The Associated Press.
In its complaint, DC officials alleged that local restaurant prices on the app and website were also generally higher than in-store prices, although Grubhub said they were the same. Consumers also have to pay various fees, such as delivery fees, service fees, and order fees for purchases under $10, which further increase prices.
Other charges would also apply at checkout despite advertising that customers would only have to pay a delivery charge, according to the lawsuit.
“Also, until recently, even when consumers navigated to the payment page, Grubhub further obscured these fees by combining them in the same line item as ‘taxes,'” it says.
He continued: “This practice constitutes a digital ‘dark model’, that is, a design feature that tricks, coerces or manipulates consumers into making choices that are not what they had. intend to do or that is not in their best interest.”
In April and May 202o, Grubhub ran a “Supper for Support” promotion, in which it offered discounts to customers to support restaurants at the start of the COVID-19 pandemic. However, the lawsuit alleges that the costs of those discounts were passed on to those restaurants.
Grubhub told The Verge that he plans to fight the lawsuit.
“Over the past year, we have sought to engage in constructive dialogue with the DC Attorney General’s Office to help them understand our business and see if there are areas for improvement,” the door said. -word by Grubhub, Katie Norris.
The DC Attorney General’s Office encourages Grubhub to end the listed practices, as well as pay civil penalties, attorneys’ fees, and costs for each violation of DC’s Consumer Protection Procedures Act.
Last year, Chicago officials sued DoorDash and Grubhub over their policies. The San Francisco District Attorney accused the delivery companies of violating California law by classifying the drivers as contractors. And Washington, DC, reached a settlement with DoorDash in 2019 after it alleged the company misled customers about the amount of tips drivers received.
The companies, however, retaliated with their own lawsuits. DoorDash, Grubhub and Uber Eats sued New York for its price caps last September.


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NEW ZEALAND: New Zealand on Thursday said it will ban young people from buying cigarettes for life, one of the toughest approaches in the world to curbing smoking deaths as part of a wider plan that focuses on the disproportionate impact on its indigenous Maori population.
New Zealand is already one of 17 countries where plain cigarette packaging is compulsory. It also bans sales to anyone under 18, but it says those measures are not enough to reach its goal of a national adult smoking rate of less than 5% by 2025.
New Zealand plans to make it illegal to sell cigarettes to anyone aged 14 and under from 2027. The ban will remain in place for the rest of the person’s life. That means a person aged 60 in 2073 will be banned from buying cigarettes, while a person aged 61 would be allowed to do so.
New Zealand health authorities say smokers typically take up the habit during youth, with four in five New Zealanders who smoke beginning by age 18 and 96% by age 25. By stopping a generation from taking up smoking, they hope to avoid about 5,000 preventable deaths a year.
The New Zealand authorities have not said how they plan to police the ban, nor which retailers would be barred from selling tobacco products. More detail is expected to be provided when legislation is brought before parliament next year.
– NEW ZEALAND HERALD


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Thermaltake officially today released a new member to its Core P series, the new Core P1 Tempered Glass Mini ITX Wall-Mount Chassis. The Core P1 TG (Tempered Glass) edition makes a stunning..
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Crumbs lives to bake another day
Take heart, fans of expensive cupcakes: Crumbs is getting another chance.
The New York-based chain, which has four locations in Massachusetts, filed for Chapter 11 bankruptcy protection as part of a deal that will place the company in the hands of CNBC star Marcus Lemonis and Fischer Enterprises.
If the bankruptcy court approves, a new entity called Lemonis Fischer Acquisition Company will acquire most of Crumbs Bake Shop Inc.'s assets.
Crumbs locations nationwide abruptly closed July 7 and plans for reopening specific locations haven't been divulged. The company said in a news release that "select locations" will reopen.
“We are very pleased to have reached this agreement with Lemonis and Fischer, after carefully evaluating opportunities to strengthen Crumbs’ financial position, in order to ensure a strong future for the Crumbs brand and business,” said Edward M. Slezak, Crumbs chief executive officer and general counsel said in a prepared statement. “The steps we are taking today will allow us to continue to execute our business strategy, expand our licensing business and position ourselves to move toward a franchise store model. We remain saddened that we were forced to cease operations before this agreement was reached, but we strongly believe that pursuing this sale through the chapter 11 process is ultimately in the best interest of the Company and its stakeholders.”
Lemonis, host of CNBC’s The Profit series and CEO of Camping World and Good Sam Enterprises, also said in a prepared statement: “I truly believe in the Crumbs brand and am excited to help the Company enter into a new chapter in its history."
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- Aspen Dental to pay $1M settlement over deceptive advertising
- Staples says data breach affected 1.16M cards
- Anchors away: 230-room hotel proposed at former chain-making factory
US – Director of Sales (Coated Label Products) Green Bay Packaging Inc. | Green Bay, WI
Sales Engineer/Solutions Architect Expedient Data Centers | Medford, MA
Visiting Assistant Professor of Social Entrepreneurship Hampshire College | Amherst, MA
Android Mobile Developer Buildium | Boston, MA
Executive-in-Residence or Associate Professor | Director of the Business of Creative Enterprises Emerson College | Boston, MA


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This week, HTC is gearing up to unveil something new. As it stands right now, we're not one hundred percent sure what that could be, but there looks to be a good chance it could be the One X+, a slightly upgraded version of the One X that launched earlier this year. That's where the rumor mill seems to be focused at the moment, anyway. There's a chance it could be a 5-inch device headed towards Verizon's network, but we'll have to wait and see.
I am hoping that HTC unveils a device running Windows Phone 8, though. While I wouldn't be surprised if the event is geared more towards Android-based handsets, it would be nice to see what the company has coming down the pipe running Microsoft's next version of their mobile operating system.
After all, we've already seen what Nokia has coming, and even Samsung. Now it's time to see what HTC has been working on.
Most importantly, it's time to hear where these handsets are going. Here in the States, I want to know which device is landing first, and which carrier it will be supporting. October can't come soon enough.
I'm getting excited about Windows Phone again. I can't stop myself. I've tried. I've tried to dissuade myself away from Nokia's hardware. I've tried to tell myself that the new customizable home screen in Windows Phone 8 isn't that great. But, I'm still getting excited about this next big version of the software.
There are conditions, though.
As it stands right now, I have no idea which Windows Phone 8 device will make it onto Verizon's network before the end of 2012. (Or even in 2013, for that matter.) There have been rumors that the Nokia Lumia 820 will show up, with a slightly different name, but you know what? I don't want that handset. I don't. And Verizon shouldn't launch it. Microsoft should be gearing up to launch their most impressive device on Verizon's network -- not the phone that's *almost* like it, but not quite.
But, this goes beyond just launching a phone that's worth buying. One of the reasons I'm getting excited about Windows Phone again is because of the growing ecosystem. More than that, I really, really like the way that Microsoft is connecting their ecosystem. From Windows 8 to Windows Phone 8, all the way to the Xbox 360, it's about the devices that you use that bring them together. The ecosystem can only get you so far. If you launch devices that make interacting in that space worth it, and easy, then you've got a winning combination on your hands.
So, here's what I need, what needs to happen, for me to completely switch to Windows Phone 8:
First, as aforementioned, Verizon has to launch a phone that's worth the purchase. Top-tier hardware, all in a case that makes me want to show it off. Next, Microsoft has to launch their tablet, Surface RT (not Surface Pro), for somewhere between $199 and $249. And lastly, I need to find an Ultrabook that I feel is worthy enough to replace my MacBook Air.
You know what? Out of all those things, there's only one that I think will cause an issue with this whole plan of mine. That's Verizon launching a phone that's strong enough to carry Windows Phone on Big Red's network into 2013. Metaphorically.
I don't think my list is impossible. The problem is that I won't jump into the Windows Phone platform halfheartedly. If I do it, then I'm going to incorporate the whole ecosystem into my life. I'm going to make the jump. The thing is, I'm ready to do it now, *right this second*, and waiting has never been my strong suit.
I'm very curious, Dear Reader. Where do you stand on Windows Phone 8? Based on what we've seen Nokia and Samsung unveil, and with rumors regarding what HTC could show off very soon, what would it take for you to switch over to Microsoft's mobile platform? Or have you already made the switch? Let me know!


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Tiger Global raises $3.75B in one of its largest fundings this year
This is Tiger Global 11th venture capital fund to invest and is supposed to be used for tech investments in countries like India, China, and the US.
US-based investment group Tiger Global has raised $3.75 billion for its latest fund that closed on October 15, reported The Financial Times, $0.75 billion more than its target.
This is its 11th venture capital fund and will be called the Private Investment Partners XI. The report added that the fund closed will focus on consumer internet, cloud computing, industry software and direct-to-consumer companies in India, China and the US.
The development comes shortly after Tiger Global's Lee Fixel engineered one of biggest acquisition deals of Indian corporate history between US retail giant Walmart and India's poster child for ecommerce Flipkart. The hedge fund initially pumped an investment of $9 million in Flipkart and subsequently paced it up to $1 billion over several years, owning about 20 percent of the company's stake until a year ago.
Flipkart's recent deal with Walmart brought in $3.3 billion dollars to Tiger Global, which still holds a 5 percent stake in the company.
Earlier this year, the group's hedge fund arm reportedly invested over $1 billion in Japanese conglomerate SoftBank Group. It currently manages around $22 billion worth of assets and is one of the earliest backers of India's startup ecosystem. With this new fund closing, Tiger Global is likely to look at new companies in sectors like ecommerce, logistics tech and digital media in the country.


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You probably don't want to find these Amazon.com oddities waiting under your tree.
From cashmere to comforters, the discounts may seem good now, but just wait until the holidays are over.
What will kids be begging for this holiday season? Expect a lot of classic toys with a high-tech twist, according to TimetoPlayMag.com, which released its list of the year's hottest toys.
According to Truecar.com, seven out of the nine best days to buy a car are in December. Here are some tips on how to negotiate the best deal.
AAA holiday travel forecast: Despite continued worries about the economy, 91.9 million Americans are expected to go somewhere this season.
Shoppers around the country braved the crowds to get their hands on the best Black Friday deals.
The SC was the car that re-introduced Mercedes-Benz as a global luxury car icon.
Driving a replica of the 1886 Benz Patent Motorwagen, the first internal combustion automobile.
This year, more Cyber Monday sales than ever start well before Monday. Here's where to shop if you don't get your fill on Black Friday.
This year's best Black Friday deals include some Apple products and a free Samsung smartphone.
This 1951 Delahaye represents the end of an era in gorgeous French car design.
The Polaris Slingshot drives like a car with the excitement of a motorcycle.
The downing of a Russian warplane by Turkey and ISIS terror attacks in Paris demonstrate how geopolitical threats can impact the global markets.
2015's best in tech included some truly stunning innovations.


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Microsoft Nokia Windows Phone 8 September 5 event countdown
While Apple and various companies that make Android hardware continue to battle it out in various court rooms around the world, Microsoft are getting ready to launch the latest version of the Windows Phone operating system, which it hopes will help it gain more ground on its rivals. We are now counting down to the Microsoft, Nokia Windows Phone 8 event that is taking place on September 5th.
As the guys over at SlashGear are reporting Microsoft and Nokia will be hosting an event in New York tomorrow, which has already been the subject of some leaks. So far we have seen a collection of handsets along with a wireless charging pad, headphones, and some speakers all in bright Nokia colours.
All that may be left to find out at the event is the actual confirmation of these items and how much they will be costing, but you never know there may be some other nice surprises in store. The event itself begins tomorrow at 9:30 AM EST in New York, where the world’s press will be able to get up close and personal with some Nokia hardware running Windows Phone 8 Apollo.
Nokia are being rather bullish about the event by stating that Samsung should be “taking note”, as their “next generation Lumia” will be arriving soon. There are also rumours that US carrier Verizon will be amongst the carriers working with Windows Phone this season.
Following the recent Apple vs Samsung court decision in the US Nokia’s stock value shot up and the future is looking good for the next generation of Windows Phone running Lumia’s. It is believed that the actual release date for Windows Phone 8 is October 29th, and this could also mean that all of the Windows phone 8 handsets that have been seen so far, should be arriving at carriers towards the end of next month as well.
Are you planning on getting a Windows Phone 8 device?


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Mumbai: Mukesh Ambani controlled Reliance Industries (RIL) today reported a 9.8 percent growth in the fourth quarter consolidated net profit to Rs 10,362 crore. This was driven by a 19.4 percent increase in quarterly revenue to Rs 1.54 lakh crore.
Quarterly EBITDA was at Rs 20,832 crore, up 12.7 percent YoY, and operating margin stood at 15.02 percent. The company said the growth in operating profit was led by strong performance in the petrochemicals, retail and digital businesses.
The company’s board has recommended a dividend of Rs 6.50 per equity share of Rs 10 each for the financial year ended March 31, 2019.
Reliance Jio’s fourth-quarter net profit increased 64.7 percent year-on-year to Rs 840 from Rs 510 in the same quarter last year on standalone revenue of Rs 11,106 crore as compared to Rs 7,128 crore in Q4FY18, a jump of 55.8%. For the full financial year, Reliance Jio’s FY19 net profit was up 309 percent YoY to Rs 2,964 crore from Rs 723 crore.
“During FY 2018-19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed Rs. 100,000 crore revenue milestone, Jio now serves over 300 million consumers and our petrochemicals business delivered its highest ever earnings. I am proud of the entire Reliance team; their hard work and dedication has laid the foundation for these achievements and many more to come. The Company has delivered record consolidated net profit of Rs. 39,588 crore for the year in a period of heightened volatility in the energy markets. I am delighted to highlight that our Company has more than doubled its PBDIT in last five years to Rs. 92,656 crore – establishing a global benchmark for value creation” Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.


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Redmi is going to announce its new Redmi Note 11T series phone on May 24 in China. The series will include Redmi Note 11T Pro and Redmi Note 11T Pro+ smartphones. MediaTek chipset and triple rear camera setup will be given in both these devices.
Redmi is preparing to launch two new phones in China, which are expected to launch globally soon. The launch date of the upcoming Redmi Note 11T Pro+ and Note 11T Pro has been set for May 24. It is not yet known whether these devices will be introduced in India or not. However, it is being said that the new Redmi Note series phone can be launched in India.
The company has announced the Redmi Note 11T series through its official Weibo account. The post suggests that the launch will take place on May 24 at 7:00 pm (4:30 pm in India). Ahead of the official unveiling, Xiaomi has published a pre-reservation page on its Chinese site. Here’s everything we can know about the upcoming Redmi smartphones.
Redmi Note 11T Pro Series Expected Specifications
The company is yet to reveal the key specifications of the device. The shared posters confirm that the new Redmi phone will sport a triple rear camera setup, which will come with LED flash. The teaser also reveals that the phone will be made available in Black and Blue color options.
According to media reports, Redmi Note 11T Pro+ and Note 11T Pro have already appeared on the TENAA certification site in China. A smartphone with model number 22041216UC was listed on the site, which is believed to be the Note 11T Pro+ smartphone. If this information is correct, then this device could be launched with a 4,300mAh battery.
On the other hand, the Redmi Note 11T Pro reportedly carries model number 22041216C, which is said to house a larger 4,980mAh unit. Rumors have it that both the Redmi Note 11T series phones will feature a 6.6-inch AMOLED display with full-HD+ resolution. Along with this, the panel is expected to have support for 120Hz refresh rate. These Redmi phones will come with MIUI 13, which will be based on Android 12. It is being said that the company can opt for MediaTek Dimensity chipset for its new phone.
An online report suggested that the Redmi Note 11T Pro+, which purportedly appeared with the model number 22041216UC, would come with a 4,300mAh battery. The listing had also suggested the Redmi Note 11T Pro, which surfaced with the model number 22041216C, would carry a larger 4,980mAh battery.
Both Redmi Note 11T Pro models are also speculated to have the same 6.6-inch AMOLED display with a full-HD+ resolution and 120Hz refresh rate. Additionally, the phones appeared to run Android 12 with MIUI 13 on top. Xiaomi is rumoured to use MediaTek Dimensity chips on both Redmi Note 11T Pro+ and Redmi Note 11T Pro. Exact details are yet to be announced.


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Fittingly for a series penned by a novelist, listings on Amazon have confirmed that there will be three new tie-in novels released for the spin-off series Class, written by a variety of authors. Though synopses have not been released, two of the novels have been listed on Amazon with the first look at the cover art, which contains what looks like the official logo for the spin-off. You can have a look at the covers for Joyride and What She Does Next Will Astonish You below:
It’s become traditional since 2005 for a batch of original novels to be released with a new series of Doctor Who, chronicling an untold adventure of the Doctor and companion who are starring in the current season.
Both novels, alongside an untitled third one, will be released on 27th October, and can be pre-ordered from Amazon UK now. Perhaps notably, the Doctor Who novels are released very close to the beginning of the series, so it’s very likely that Class will premiere a week or two either side of that date.
[Source: The Doctor Who Site]


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Lonely Planet may have sold for £70m, but printed guides could soon be extinct. Look out for a new generation of digital publications
Published: 7 October 2007
The face of guidebooks changed for ever this week. First, Mark Ellingham announced that he was leaving Rough Guides, then Tony and Maureen Wheeler sold a controlling share in Lonely Planet to BBC Worldwide. This might seem like news for the books or business pages, but it will also affect everyone who travels.
Lonely Planet has certainly come a long way since the 1970s, when the first guide, Across Asia on the Cheap, was typed out on a kitchen table, stapled together and peddled to Australian bookstores. Thirty-five years later, the company has been sold for a rumoured £70m - though the Wheelers are insistent that money wasn't the only factor in the decision. They want the business to be taken to what they call "the next level".
Mark Ellingham also sees the need for change. He set up Rough Guides in 1982, and, though he sold a majority stake to


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MUMBAI: Sun-Maid has launched a new promotion in collaboration with DreamWorks Animation SKG, in support of the studio’s upcoming film Kung Fu Panda 2, which premiers on 26 May.
Beginning this month, Sun-Maid raisin six-packs, as well as 24 oz. Sun-Maid raisin canisters, will feature on-pack QR (Quick Response) codes that direct consumers to specially designed mobile websites where they can view Kung Fu Panda 2 movie trailers, learn more about the movie’s characters, download computer wallpaper designs or enter for a chance to win a grand-prize trip for four to the world-renowned Zoo Atlanta for a VIP tour of its Arthur M. Blank Family Foundation Giant Panda Conservation Center.
Consumers who have a camera-equipped smart phone with Internet access can simply scan the image of the QR code on pack to open the promotional web page where they can submit contact information and register for an opportunity to win the once-in-a-lifetime trip including airfare and hotel accommodations to Zoo Atlanta—one of only four zoos in the U.S. that giant pandas call home.
"Through our work with DreamWorks Animation to promote Kung Fu Panda 2, we are excited to engage Sun-Maid consumers and Kung Fu Panda fans in a fun, new way by using QR codes. By keeping the promotion entry simple and easily accessible by mobile devices, we anticipate a lot of entries and overall site activity, and we look forward to awarding someone with an exceptional grand prize," said Sun-Maid vice president – brand management Rick Bruno.
"We are pleased to offer our audiences and consumers the healthy snack option of Sun-Maid raisins in conjunction with the release of Kung Fu Panda 2 and we are particularly excited about their creative and innovative use of quick response coded on-package technology," added DreamWorks Animation head of promotions and marketing services Susan Spencer.
In addition to the grand prize package, 100 first prize winners will receive a Mattel Kung Fu Panda 2 plush toy in celebration of the new DreamWorks Animation movie.
The promotion, which is open to individuals 18 years or older, ends October 1, 2011.


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April 16, 2019 00:01
Fine Design Associates have been designing exhibit lighting at world renowned tradeshows for more than 25 years. They work closely with creative firms to create breathtaking lighting for exhibit displays. Most recently, Fine Design was responsible for lighting an industry leading brand’s booth at the CES show held in Las Vegas in January.
April 12, 2019 00:00
Making its debut at the NAB Show, the new Chroma-Q® Space Force onebytwo™ variable white LED soft light panel won a Lighting Product of the Year Award in the show’s inaugural awards event, held in Las Vegas on April 10th.
April 4, 2019 00:00
Briefly shown earlier this year at several European tradeshows, the new Chroma-Q® Space Force onebytwo™ variable white LED soft light panel will see its official launch at the NAB Show in Las Vegas, April 8 - 11th.


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- State Editions
- A YEAR OF FEATS
- Cover Story
- 150th Anniversary Issue
- Middle India
- Literary Issue Special
- Cinema Issue Special
- Women's Special Issue
- Foreign Policy Special Issue
- for a cause
3 dairy products cold stores soon
The dairy development department of Uttarakhand is going to set up there cold stores in Uttarkashi, Kotdwar and Nainital soon. Besides, it will also carry out certain development works to strengthen its basic infrastructure in Chamoli, Champawat, Nainital and Kotdwar in the times to come.
At the same time keeping in view the scarcity of food for the animals particularly for the milch animals, the dairy development department would also set up three fodder banks at Rudurapur, Shyampur and Kalsi, informed the officials concerned.
These are all part of the modernisation plan of the diary development department, Uttarakhand, which is facing a tough competition from the private sector in of late. More so, the devastating basic infrastructure sector due to natural calamity that the mountain State has been facing has only edged out the competitiveness of one of the most important service sectors, the dairy department, Uttarakhand.
The dairy department has registered a declining trend in its milk production during the past few months as compared to the corresponding period last year, said P C Sharma, General Manager, mdairy development department, Uttarakhand. More so, the sale of the dairy products which are sold with brand name Anchal has also come down during the same period this year, he further said.
It seems the major challenge before the dairy development department here is to maintain its household presence with dairy products with brand name Aanchal. Apart from certain constraints like the natural disaster competition from the private sector is also a reason resulting in reduction in sale of our products, further said the officials concerned.
Meanwhile, as the officials concerned informed, the dairy development department would spend Rs 34.48 lakh on setting up three cold stores and related development works in the state soon. Out of the aforesaid Rs 34. 48 lakh while it will spend Rs 4.48 lakh on setting up cold store in Uttarkashi, the cold store at Kotdwar would be built up at Rs 7.80 lakh.
However, the department concerned would spend Rs 22.20 lakh on setting up a cold store at Nainital’s Lalkuwan areas with certain developmental works. Besides, it would also spend Rs 8.35 lakh in strengthening basicm infrastructure at Chamoli and would set up a dairy processing plant at Champawat at a cost of Rs 31.10 lakh, as the officials concerned informed.
At the same time, it will develope fodder banks at Rudrapur, Shyampur, and Kalshi at a cost of Rs 9.58 lakh, they further informed.
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03 Oct 2015 | Staff Reporter | Raipur
Raipur and Bilaspur will be developed as smart cities during the next five years and active participation of the people in the projects will be key to transformation of these cities,” Chief Minister Raman Singh said on Friday. Addressing a programme organised here to mark the birth anniversary of Mahatma Gandhi and former Prime Minister Lal Bahadur Shastri together with completion of ‘Clean India Mission’ kicked-off by Prime Minister Narendra...
Will someone please remind Pakistan that as per the UNSC resolutions, they were supposed to vacate all of J&K first?
After 26 years in the industry, if I have managed to stay afloat, it is only because of my passion for fitness.
This wasn't an attack over meat. He (Mohammed Akhlaq) was killed in the name of religion. This is cold-blooded killing, not an accident.