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Michael S. Liebowitz
Mondrian South Beach Undergoing $20 Million Property-Wide Transformation
September 14, 2020
MIAMI BEACH, Fla., Sept. 14, 2020 - Mondrian South Beach, the waterfront oasis on Miami Beach's Biscayne Bay, announces a $20 multi-million dollar property-wide transformation. First opened in 2008, the bayside retreat is again setting out to redefine trends with a new modern tropical look, feel, and experience. Located on West Avenue with direct marina access, the 220-room property is now accepting reservations starting November 16, 2020. The renovation is being led by hotel partners Russell Galbut of Crescent Heights and Chairman of Norwegian Cruise Line and Michael S. Liebowitz CEO and Founder of Harbor Group Consulting. "Since partn...
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Cape McDonald’s employee voted ‘Crew Person of Year’
Cape Coral resident Nea Defina just got two great pieces of career news. The Santa Barbara McDonald’s employee was recently voted “Crew Person of the Year” by McDonald’s owner-operators throughout Southwest Florida.
And following that she has just found out she has been promoted to manager-in-training.
Each year, six top McDonald employees are chosen from the approximately 2,500 staff members to be named Crew Person of the Year and Shift Manager of the Year – three each.
A fellow former employee at the same store, Daundra Martin, who has since moved to the College Parkway McDonald’s, won one of the coveted “Shift Manager of the Year” awards.
Honorees were chosen from 53 McDonald’s stores throughout Lee, Charlotte, Collier and Hendry counties, as well as part of Sarasota county.
“My organization is thrilled to recognize Nea as Crew Person of the Year,” said Tim Frederic, owner-operator of five McDonald’s restaurants in Cape Coral in a prepared statement. “Nea’s drive, energy and enthusiasm are greatly appreciated by her managers, coworkers and customers. We are fortunate to have her as part of the McDonald’s family.”
He has just recently announced her promotion.
“I really wanted this, it’s a career to me. I enjoy my time here very much,” said Defina.
She said her store managers, including Manager Alissa Grabarczyk, have been extremely supportive. “My store manager, Alissa Grabarczyk, was very encouraging. She said she sees a lot of potential in me, and she gave me a chance.”
Defina said she has been working toward the promotion for about two years. She went from crew person to crew trainer then now into her management training.
“I hope to become as good a manager as my store manager and assistant manager, and want to go all the way up because it is a very good learning environment,” she said.
And, she said, she really does love her job. She likes the employees as well as the management.
“I love the customers the most,” she said of the Santa Barbara location.
Originally from North Jersey, Defina said she also really enjoys living in Cape Coral. On her time off, she is a doll collector, and likes to shop.
“I also enjoy antiquing, looking for treasure,” she said.
She congratulated former fellow employee Martin on his award.
“I did just get a chance work with him when he started here and he was really great, Defina said.
According to corporate statistics, many hourly employees and shift managers at McDonald’s advance to become restaurant managers, owner/operators, regional or division staff members and corporate employees.
In fact, more than 75 percent of McDonald’s restaurant managers started as crew, and more than half of McDonald’s owner-operators started behind the counter.

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"Heartbreaking" pretty much sums up the state of affairs in Melbourne as far as influential local businessman Graeme Samuel is concerned.
The ex-banker and former chairman of the Australian Competition and Consumer Commission is under no illusions about the tough slog ahead for the city, reeling not just from a health crisis but also hamstrung by the efforts of the state government to contain the COVID-19 pandemic.
And he isn’t alone, as prominent business voices across Melbourne lament for a city in distress, both emotional and economic.
The damage, according to Samuel, doesn’t need the validation of economists or complicated graphs and tables. You just need to step out onto the streets, albeit within the current limits on outdoor activities set by the Victorian government.
"If you want any evidence of the devastation, just get in the car and drive down the main shopping strips and the plethora of for lease signs will show you the number of businesses that have simply said 'we've given up, we've closed, it's all over'."
"These signs are in Glen Huntly Road, they are in Chapel Street and right throughout metropolitan Melbourne. And those for lease signs say to me, these are businesses that will never open up again, they're finished," he says.
Samuel's daughter is one of many business owners whose livelihoods have been smashed as Melbourne’s CBD turned into a ghost town.
"My daughter had to close her business, she's lost a lot of money, hundreds of thousands of dollars, because she was forced to close her business," he says.
A successful cafe and salad bar business, catering to office workers and nurtured over a decade, didn’t stand a chance once the lockdowns came into place. And Samuel says it’s a story that has likely played out many, many times over across the city.
"She can recover from that and she has a future career and she'll deal with that, but so many others just face heartbreaking devastation," he says.
If you want any evidence of the devastation, just get in the car and drive down the main shopping strips.Melbourne business leader Graeme Samuel
Samuel's concern over the Victorian economy and his frustration with the state government paying little heed to the views of business communities come in a week when modelling conducted by accounting giant PwC underlined the damage suffered by inner Melbourne.
The PwC modelling, conducted for the City of Melbourne, predicts inner Melbourne could lose 79,000 jobs annually over the next five years under a scenario of prolonged recovery and fewer workers returning to the CBD. It also forecasts that Victoria's economic output could fall by $327 billion over the next five years, compared to pre-COVID forecasts.
Whether Melbourne, and the broader Victorian economy, can find its mojo again remains a vexed question for now, and Carol Schwartz, one of the most prominent women in Melbourne business circles and a Reserve Bank board member, says it's inevitable the economy has been changed forever by the coronavirus.
According to Schwartz, some of the changes will be positive and some negative, but either way businesses will have to change how they operate.
"For example, I'm certainly not going to be hopping on an aeroplane to go interstate for one meeting any more, having been exposed to technology which now allows us to have those meetings very comfortably and very effectively," she says.
With the road to recovery set to be bumpy, Schwartz says unemployment looms as a key pain point, adding that all levels of government will need to focus on tackling joblessness as quickly as possible.
She's also keen for policymakers to use every lever at their disposal, from taxation to labour laws, to start turning things around.
"I think that everything's up for grabs, and so nothing should be off the table as a sacred cow."
No light at the end of the tunnel
David Smorgon, whose family has been synonymous with business in Melbourne ever since they set up a butcher shop in inner Melbourne nearly a century ago, is sanguine things will get better for Melbourne and the state’s economy, but is urging patience.
"At the moment we're in a dark tunnel in Victoria, and I'm afraid to say that, as at September 10th, there's no light at the end of the tunnel that we're in at the moment. But, no doubt, we will get there," says Smorgon, the executive chairman of Pointmade, a boutique advisory firm dealing with wealthy families.
Smorgon's note of confidence, albeit measured, is educated by what he labels the inherent resilience of the state’s business community.
"Let's not forget how strong the Victorian economy's been over the decades."
"And we've shown through our bushfires, through our recession we had going back in the 1990s, we do bounce back and we've got a conviction to bounce back."
"But it's a question of do we have the confidence, have business people got the confidence and the trust in the current government to go and reinvest in Victoria," he says.
The answer to Smorgon's question on confidence, according to the former chief executive of Melbourne retail institution Myer, Bernie Brookes, is a resounding no.
Brookes believes Victoria’s economy may never recover to its former glory, labelling the state "irreparably damaged".
"To use a good sporting analogy: if you're out of the game for long enough, you may never make a full recovery," he says.
"It's going to take a decade to get back to near where it was. It isn't going to bounce back suddenly, even if there is a vaccine."
Harry Debney, the boss of ASX-listed fresh produce giant Costa Group, offers a more upbeat outlook, but wants decisive action from the Victorian government.
"The underlying strengths of the Victorian economy are still there."
"But I think the longer this goes, the worse it gets. So the imperative has got to be to gain effective control of COVID. And on that matter, what we definitely need is better execution," he says.
Same problem but the 'worst solution'
While sentiment on outlook for the Victorian economy remains mixed, the one common theme from the local business community is that the state government needs to take its input more seriously.
Martin Hosking, founder of technology marketplace Redbubble, says it's hard not to feel disappointed as every other state and territory had handled the crisis better than Victoria.
"Everyone had the same problem and we had the worst solution," he says.
"Confronted with this failure. the government has said we will do everything we can not to replicate it. I can understand emotionally how they got there, but it seems to lack a degree of flexibility and a willingness to be much finer in the way it is applied."
Hosking says the government has not deeply engaged with the most effective businesses, adding that Melbourne should be opened up as quickly as possible.
"A lot of effort has gone into one side, which is lockdown and the virus, and I have not seen the same level of engagement for the other side," he says.
"We can't just be locking down this state indefinitely, which is what the Premier seems to be saying."
As a founder of a digital company, many of which call Melbourne home, Hosking says fostering technology businesses may prove crucial to driving a recovery.
"I would like to see federal and state governments acknowledge the role technology businesses are playing in helping the economy survive."
But for now, many businesses, new and old, find themselves in a situation well beyond their control.
Charlotte Petris, co-founder of Melbourne-based fintech Timelio, says the state government’s efforts to balance the health and economic outcomes have been found wanting.
"I know the state government has had a lot of criticism and I am not supportive of the current approach in terms of how severe the restrictions are," she says.
"But I would not want to be in his (Victorian Premier Daniel Andrews) position, it is a lose-lose situation"
"There are things that could have been done better but I am accepting right now that it is not in my control," she says.


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Family behind Babycham saves Shepton Mallet cider mill from closure
The family behind Babycham has saved the Shepton Mallet cider mill in Somerset from potential closure by buying it from drinks giant C&C Group.
Brothers Drinks – founded by siblings Francis, Matthew, Jonathan and Daniel Showering – produces fruit-flavoured ciders which are sold at music festivals including Glastonbury.
The brothers are the 14th generation in a family involved in the cider business since 1658.
In tune: Fruit-flavoured cider produced by Brothers Drinks goes down well with fans at the Glastonbury Festival
Francis Showering, the brothers’ great-uncle who helped found Brothers Drinks, was the inventor of Babycham, which launched in in 1953. The the pear-based drink became popular in the 1960s and 1970s, although the brand has since been sold off.
These days the family makes pear cider as well as producing and bottling other drinks brands for third-party owners including the premium tonic brand Fever-Tree.
The cider mill in Shepton Mallet was originally built for the Showering family in 1990 but it was later sold.
Babycham launched in in 1953
Last January, C&C – which makes cider brands Magners and Bulmers – announced it intended to switch production from its sites in Shepton Mallet and Borrisoleigh, Ireland, to its plant in Clonmel, Tipperary.
It was feared that the Shepton Mallet mill might have to shut down, but it has now been bought by the Showering brothers and it will continue to produce keg ciders such as Blackthorn and Gaymers.
The Shepton Mallet site can press 7,000 tons of apples a day. Matthew Showering said: ‘It’s a huge site and it’s going to transform our business.
‘It’s great to have been able to buy back our grandfather’s factory.’
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May 28, 2009 — -- Greening your grocery bags is just one thing you can do that will have a big impact on the environment.
It takes about 20 billion barrels of oil to make 5 trillion plastic bags. Americans alone use more than 380 billion polyethylene bags and throw away approximately 100 billion of them per year. Only about 1 percent of these plastic bags are recycled.
Scientists estimate that it takes 1,000 years for a polyethylene bag to break down, and as polyethylene breaks down, toxic substances leach into the soil and enter the food chain.
The bags also take a more immediate toll on the environment: Approximately 1 billion seabirds and mammals die per year by ingesting plastic bags.
San Francisco, Los Angeles and New York City have all made moves to ban or limit the use of plastic bags.
In 2007, San Francisco was the first city in the United States to ban plastic bags at chains and large stores grossing more than $2 million a year, but so far the ban has not been hugely successful in altering consumers' throwaway behavior.
Unfortunately, according to San Francisco Weekly.com, more bags were found on the street by researchers in 2008 than before the ban, even though overall litter was down 17 percent.
In May 2009, the Los Angeles City Council voted to ban plastic bags from stores beginning July 1, 2010. Shoppers can either bring their own bags or pay 25 cents for a paper or biodegradable bag.
The vote also puts pressure on the state to impose bag recycling requirements on stores. By implementing the ban, the council hopes to minimize cleanup costs for the city and reduce trash that collects in storm drains and the Los Angeles River.
The city estimates more than 2 billion bags are used each year in Los Angeles, and about 5 percent of plastic and 21 percent of paper bags are recycled in California.
In January 2009, Mayor Michael Bloomberg of New York City proposed a 5 cent fee on new plastic bags at the store register, and not for just grocery stores -- all bags given out at department stores, restaurants and other retailers are included.
You don't have to live in a big city to make a difference. You can limit or eliminate the use of plastic bags in your own home and make an eco-impact.
Look for plastic bag recycling programs at your local grocery store, and if the store doesn't contain one, suggest it to the manager.
While recycling plastic bags is a great start, you can eliminate your use entirely by taking a reusable bag with you to the grocery store or even the retail store.
Some grocery stores will sell you a reusable bag for a small cost and/or give you a discount for using your own bag instead of the paper or plastic.
For more information on where you can find reusable grocery bags, visit these sites mentioned on "Good Morning America."
The RuMe Reusable grocery bag is great for city folk or the minimalist. They fold up nice and tight to fit in a purse or jacket pocket.
RuMe reusable bags are manufactured in South Korea under strict fair trade policies and standards. With each new product line, RuMe will dedicate a portion of its proceeds to a social or environmental cause. (Those include Algalita Research Foundation dedicated to protecting the marine environment and its watersheds through research, education and restoration; Greenprint Denver's Million Trees Initiative, which seeks to plant 1 million trees in Denver; and the Food Bank for the Rockies, which provides food to more than 1,000 hunger relief programs in Colorado and Wyoming.)
One drawback is that the bags are made from polyester, which isn't super-eco-friendly.
Prices range from about $9 to $10 each.
This conveniently named Web site carries inexpensive reusable totes that aren't too tough on the wallet. The company donates 1 percent of sales to the environment and supports fair trade practices.
Bags cost between $3.95 and $15.95, depending on size and material.
Some bags are made from 100 percent recycled content, others from 100 percent organic cotton or silicone-coated nylon, which is what is used in outdoor equipment like tents, making them good for outdoor use. They are also small and compact.
Blue Avocado Reusable Grocery Bags are a system of bags for your trips to the grocery store. The biggest set of Gro-Pak bags includes a main tote, an insulated bag for hot and cold items, a mesh bag for veggies, a stuff-and-go bag that folds up really small and a multi-use bag. They all condense together to fit in one bag.
All of Blue Avocado's bags are responsibly manufactured with recycled material (about 10 percent recycled material, soon to be 50 percent in the next version); they're machine washable and include a carbon footprint label that shows you how many plastic bags you are saving by using them.
Using this system, an average shopper can replace up to 1,000 plastic bags every year (avoiding three plastic bags each grocery store trip will save more than 200 per year).
All Gro-Pak bags are available for purchase individually from $9.99 to $19.99, and "kits" range from $24.99 to $69.99.
Blue Avocado reinvests 1 percent of its income in loans to fund micro-entrepreneurs around the globe. As of January, the company had invested in 15 entrepreneurs from Guatemala to Cambodia.


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Three comprehensive international exhibitions with focus on the entire textile and garment sector of the country will begin in the city on September 5.
Conference and exhibition management services Ltd (CEMS) Global USA in association with CEMS Bangladesh will arrange the four-day fairs at Bangabandhu International Conference Centre.
The exhibitions are 14th Textech Bangladesh 2013 International Expo, an international exhibition on textile garment technology and machinery along with concurrent exhibitions `16th Dye+Chem Bangladesh 2013 Int’l Expo’ and `7th Dhaka Int’l Yarn & Fabric Show 2013’.
Nearly 450 exhibitors from over 15 countries along with important Industry Associations are expected to participate in the three exhibitions, organizers said.
The exhibitions will remain open for trade and business visitors only everyday from 10:30 am to 7:30 pm upon registration at the expo venue.
Commerce Minister GM Quader will inaugurate the fairs as the chief guest while the leaders of BGMEA, BKMEA and Amcham will also attend it.


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China Strikes Back With Tariffs on $60 Billion of U.S. Imports
China said it would levy new tariffs on an additional $60 billion a year of U.S. imports in retaliation to the latest round of tariffs imposed by President Donald Trump in the expanding trade war.
The retaliatory tariffs will range from 5% to 10% and cover 5,207 items, according to a statement late Tuesday from China’s State Council. The new tariffs, to be applied on products including meats, juices and chemicals, will take effect Sept. 24.
“If the U.S. makes further moves on tariffs, China will response with countermeasures,” the cabinet said.
China’s response came shortly after the Trump administration carried out its earlier threat to slap 10% tariffs on $200 billion a year of Chinese goods starting next week. The duties will rise to 25% at the beginning of 2019, according to a White House statement.
“The implementation of the tariffs is aimed to rein in the escalation of the trade conflict and a forced response to the U.S. unilateralism and trade protectionism,” China’s cabinet said in the statement. China still hopes to “end the trade tensions through talk and consultation on the basis of equity, integrity and mutual respect,” it said.
The worsening tariff clash between the world’s two largest economies fueled fears of a deadlock in efforts to negotiate a solution. Two Chinese government ministries last week confirmed that U.S. Treasury Secretary Steven Mnuchin had invited a delegation from Beijing to Washington for another round of trade talks. The two countries have held four rounds of discussions but failed to reach a resolution.
The latest round of U.S. tariffs brought the total amount of Chinese goods affected since July to $250 billion a year, roughly half of China’s shipments to the U.S. in 2017.
China purchased around $130 billion of American goods last year — less than a third of U.S. purchases from China. China’s new tariffs put roughly $110 billion of U.S. exports under punitive duties.
Some Chinese officials have suggested responding to Trump’s tariffs with harsher measures such as export bans. Lou Jiwei, former finance minister, said at a forum over the weekend that China could block exports of key components, intermediate materials and equipment that U.S. manufacturers depend on.
As Beijing released the latest tariff list, Trump threatened more retaliatory measures on Twitter.
“China has been taking advantage of the United States on Trade for many years. They also know that I am the one that knows how to stop it,” Trump wrote. “There will be great and fast economic retaliation against China if our farmers, ranchers and/or industrial workers are targeted!”
In the Monday statement announcing additional tariffs, Trump warned that if Beijing retaliated, he would “immediately pursue phase three,” which would involve levies on $267 billion more Chinese products. That would extend duties to the value of China’s entire annual exports to the U.S.
China’s commerce ministry nonetheless pledged to retaliate.
“China has no choice but to retaliate in order to protect its legitimate rights and interests as well as the global free trade order,” the ministry said in a statement earlier Tuesday.
Contact reporter Han Wei (firstname.lastname@example.org)
Read more about the China-U.S. trade war.
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CPO buyers switch to KL after Jakarta tax change
KUALA LUMPUR: Foreign buyers sold back at least 200,000 tonnes of Indonesian crude palm oil (CPO) to refiners since mid-September when Jakarta slashed export taxes on the processed grade and made minor cuts for duties on the crude grade, traders said yesterday.
The buyers - including trading houses and processors - have switched over to Malaysian CPO from plantations who have not finished their tax-free export quota on the grade, traders from Indonesia and Malaysia said.
Malaysia, the world's No. 2 producer, imposes very high export taxes on CPO to protect its refining industry but has allowed for firms such as Sime Darby and IOI Corp to export the grade without any duties.
The market feared the Malaysian export quota would squeeze global CPO supplies further as top producer Indonesia cut its refined palm oil export tax to jump-start its processors, leaving less of the crude grade for shipment.
"At first I thought the quota was going to be a stumbling block, but it seems the Malaysian palm oil companies still have it. My seller says don't worry, you can buy, we can sell," said a Malaysian trader with a key palm oil processor.
"Just watch Malaysian crude palm oil exports in October. It will jump a lot because a lot of people are selling Indonesian crude palm oil back and buying Malaysian crude," the trader added.
The higher demand for CPO will cut into rising stock and possibly lift benchmark Malaysian palm oil futures that have fallen more than 25 per cent this year on fears of another global recession.
The government sets the annual quota, and this year it was pegged at 3.3 million tonnes. In the first nine months of 2011, Malaysian CPO exports stood at nearly 2.5 million tonnes, according to data from Societe Generale de Surveillance, and leaving at least 800,000 tonnes available.
"The quota always gets exceeded and these palm oil companies will ask the go-vernment to raise the quota, which is always granted," said a second Malaysian trader.
"This year especially, with the new Indonesian export tax coming into, it is bound to go higher," he added.
Commodities Minister Tan Sri Bernard Dompok said in August that the government had a "flexible view" to the tax-free crude palm oil export quota in order to keep the industry market driven, as the grade is in high demand in Rotterdam.
Buyers are selling back Indonesian CPO to refiners mostly in Sumatera and Java island at the same price the cargoes were contracted at.
The buyers, including Western trading houses and processors, make enquiries with Malaysian firms who will offer local CPO that is now at US$890 (RM2,812) a tonne, a 7 per cent discount to Indonesian FOB export grade.
"Once you add in some profit margins, Malaysian palm oil for export grade is about US$15 (RM47) chea-per compared to Indonesian palm oil," said a trader with a Malaysian plantation firm with a tax free export quota. - Reuters


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“After seeing so much skin, it’s nice to be a little covered up,” says Lisa Mayock of Vena Cava, who has a particular long and lean number in mind for the label’s Christmas soirée. When it comes to party dressing, Mayock and women like her are in a more languid mood, now that thigh-grazing, body-skimming looks have reached their shortest, tightest conclusion. There’s a new pair of silk pants in Mayock’s wardrobe too, since menswear-inspired elegance is also on the agenda this holiday season. Judging by the flame-colored tuxedo that showed up in Givenchy’s resort collection, Riccardo Tisci would likely agree.
Besides sophisticated suiting, there’s a sweet spot in forties-meets-seventies silhouettes right now. Inspired by the looks she saw at the Miu Miu store opening in London last week, art maven Shala Monroque is looking to invest in something supremely chic that hits squarely between the ankle and the knee. “I also love that Great Gatsby, 1920s feeling,” she says, “slicking back my hair, layering up with lots of long necklaces, and maybe adding a colorful foxtail too.”
Admittedly Monroque will pack a mini cocktail dress or two for her Caribbean vacation this year, although invariably she’ll pair the outfit with flats, not last winter’s sky-high platforms. The rules, as she sees them, are definitely not set in stone.
Above all, it’s about throwing something completely unexpected into the mix, and that’s a sentiment she shares with Vogue Contributing Editor Lauren Santo Domingo. “I wore a neon Christopher Kane dress to a party recently, and it felt really bold to wear such a bright color,” she says. “Life’s just too short to be boring.”


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Netflix is all about their coin. The streaming giant has once again announced they are planning to hike prices again. This summer, Netflix eliminated the Basic tier without ads for $9.99 a month. In the U.S., Netflix’s Standard plan (two streams, no ads) is currently $15.49/month and the Premium tier (four streams) costs $19.99/month.
Netflix CFO Spence Neumann told investors that the streamer was more than a year out in major markets,like the U.S. Netflix has "paused” price hikes after it began rolling out the paid-sharing program starting in May 2023, Netflix’s effort to monetize password-sharing users, Neumann said during an interview. “Most of our revenue growth this year is from growth in volume, through new paid memberships.
Netflix is not the only streaming platform that has increased prices. Hulu, ESPN+ and Disney are raising prices for the standalone premium tiers.
Photo: Getty Images


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2012 March 6
Links of The Daily
Getty Images View Gallery
(NEW YORK) Sozzani Honour [Vogue UK]
Next week, Vogue Italia editrix Franca Sozzani will get Knight-ed in France's Legion of Honour
Designer sued for 'exploits' [NY Post]
Alexander Wang has been hit with a $50 million lawsuit for abhorrent working conditions in his Chinatown factory, filed by 30 of his employees in Queens Supreme Court
Christian Borstlap: Louis Vuitton I [Nowness]
LV's founding days via vid for Friday's "Louis Vuitton Marc Jacobs" exhibit, plus a chat with Musée des Arts Décoratifs' curator Pamela Golbin
Hearst Turns 125 [Mediabistro]
Hearst rings in a century and change, with a temporary "Hearst Way" street sign and the Empire State Building lit "Hearst blue" last night
A Fashion Story Made In Manhattan [Wall Street Journal]
Isabel Toledo traces her trajectory in the biz in a new book
Today it was announced that Antoine Arnault, son of LVMH head honcho Bernard Arnault, has been appointed chairman of luxury Italian cashmere company Loro Piana. Brothers Sergio and...
Prepare to view those Fall '14 collections in a slightly retooled setting at Lincoln Center come February. Mercedes-Benz Fashion Week has announced its plan to overhaul the current...
Lynn Shanahan is adding to her duties chez Kellwood: the current chief executive officer at Kellwood Brands has been promoted to chief executive officer at Kellwood Co. The beefed-...


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FOOTHILL RANCH, Calif. (CBS.MW) -- Shares of Wet Seal surged 15 percent Thursday after the retailer of women's swimwear and other apparel issued a rosy earnings outlook that turned heads on Wall Street.
Wet Seal (WTSLA) wtsla projected earnings per share of 93 to 95 cents when it reports its final results on March 16. The First Call consensus estimate was 81 cents.
Shares of Foothill Ranch, Calif.-based Wet Seal jumped 5 5/16 to 40 1/4.
PaineWebber said it sees Wet Seal stock reaching $46 per share in the next 12 months. The investment firm's analysts also said in a research note to clients that Wet Seal's Web site will be connected to its Wet Seal and Contempo Casual sites.
Wet Seal President Edmond Thomas said the company will revamp its catalog as a "magalog," or magazine-catalog hybrid that publishes advice columns and other editorial content. The magalog will be connected with Wet Seal's new Web site. See Renegade.
The company said its fourth-quarter sales rose to $145.9 million compared to $118.2 million in the year-ago period. Comparable store sales climbed 6.0 percent vs. 5.6 percent in the prior year's fourth quarter.
Wet Seal said it operated 454 stores at the end of 1998, compared to 389 stores at the close of 1997. In addition, the company said it opened 86 stores in fiscal 1998, closed 21 stores and refurbished 29.
Looking forward, Wet Seal expects to open 105 stores in fiscal 1999, 80 of which were bought from fellow-retailer Britches. See press release. The company said 80 of the new locations will be open at the end of the first quarter 1999.
Speaking at the Cruttenden Roth investment conference in San Diego, Thomas said the company isn't facing obstacles related to the year 2000 that could hamper its financial results. He also said he sees teen population growing two times as fast as the general population by 2010. In 1998, teens were responsible for $141 billion in retail spending, a 16 percent increase from 1997.
The company also said it's "very optimistic" about the possible future growth of its Arden B. stores, which carry dressy and casual clothes, accessories and footwear.


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A ship docks at the Phnom Penh Autonomous Port (PPAP) in March 2012. The PPAP is scheduled to open two new ports next month. Photograph: Heng Chivoan/Phnom Penh Post
The Phnom Penh Autonomous Port (PPAP) will officially open two new ports in January in response to a rise in imports and exports of cargo.
The PPAP is also one of the state-owned enterprises due to be listed on the Cambodian stock exchange by 2014.
Hei Bavy, director-general of the PPAP, told the Post Prime Minister Hun Sen would preside over the official launch of the new port in Kandal province on January 21.
The newly upgraded port in Kampong Cham would also be operational early next year, he said.
Hei Bavy said the new port in Kandal could handle about 150,000 containers a year, while the upgraded one can load 300,000 tonnes of goods a year.
“The ports will help us to deal with the rise of cargo activities,” he said.
The rise in cargo shipments and stocks proved that economic activities were on the rise, Hei Bavy said.
“Normally, the cargo via our port increases by 10 per cent a year. This year, we expected to reach 90,000 containers, but we have already had 94,000. Last year, it was 81,000,” he said.
“If we cannot launch the new port on time, our operation here will have some problems, because the demand is increasing,” Hei Bavy said, adding that the existing port’s capacity was 80,000 containers a year.
Data from the PPAP shows that cargo through the port rose more than 10 per cent this year to 94,000 containers as of today, from 81,000 containers last year.
Hei Bavy said most of the products imported through the port were construction materials, consumer products and garment raw materials.
The majority of export products were garments and agricultural products.
The new port, financed by the Chinese government, cost about $68 million.
Hie Bavy confirmed that the Ministry of Economy and Finance had already assigned Tong Yang Securities to be an advisory firm when the PPAP was floated.
He said the port was improving its internal works and hoped it could begin the IPO project by 2014.
To contact the reporter on this story: May Kunmakara at [email protected]


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Chilewich to Debut at Las Vegas Market
June 17, 2014,
New Gold floormats
NEW YORK-Chilewich will debut at the Las Vegas Market next month, as its rep group will be exhibiting there, also for the first time. The Keena showroom is located in Building C, #1035, at World Market Center Las Vegas.
Chilewich has been working with Keena, which has showrooms in San Francisco, Seattle and Los Angeles, since Chilewich started 14 years ago. Chilewich recently expanded its sales territory with Keena first to Southern California last year, and the Rocky Mountain territory, which includes Colorado, Arizona, Utah and New Mexico, earlier this year.
"There are countless ways to interpret metallics and Chilewich was committed to creating a gold that was modern--not flashy, not too yellow and not too bright. Presenting more like a brushed gold, it is restrained and elegant," said Sandy Chilewich, founder and creative director.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money


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Guest post from LiveWorx Sponsor Cognizant:
When IoT Meets Manufacturing
One of the more negative iconic images of the Industrial Revolution was of child workers being sent into coal mines. Thankfully, that's an age long behind us.
Our own age promises a different revolution: one in which miners no longer need to descend into the mine shaft, wield a pick, endure suffocating temperatures or constant jarring vibration, or risk their lives for underground goods like coal, gold or diamonds.
Tomorrow's mines will increasingly rely on sensor-equipped, software-driven machinery, a complex technology evolution enabled by the movement toward the Internet of Things (IoT). And it's not just mining that’s benefiting from the IoT. While the technology sector conjures an image of silicon chips and clean rooms, processors and analytics, sensors and the cloud, manufacturers across sectors are moving toward a world of IoT-enabled intelligent products and systems.
Intelligent Solutions: There's Gold in Them Hills
Ordering dinner through an app, calling Lyft to get to a restaurant or paying bills through a smartphone are the accepted conventions of today’s digital world. Now a new technology wave is transforming remote-operated or software-driven equipment into IoT-enabled, autonomous, self-learning machinery that reacts to changing circumstances in real time.
Driverless heavy machinery is already functioning at multinational metals and mining company Rio Tinto's massive open-pit iron mining operations at Pilbara in Western Australia, with 400-plus-ton trucks larger than two-story houses hauling massive loads of ore and waste material. Operated from a control room hundreds of miles away, the trucks work alongside other vehicles and heavy machinery, adjusting in real time to a mine’s changing layout as ore and waste are removed.
Soon, most new mines will use pilot-less drilling machines at the coalface, equipped with sensors that allow them to follow seams of ore, monitor temperature and air quality, detect vibrations that may signal danger, and make sensor-informed decisions based on complex risk-driven algorithms.
Trucks, drilling machines, even transportation systems will be interoperable automated systems — in effect, an amalgamation of specialized systems in a single, highly complex machine. The result: more efficient operations, fewer workers exposed to risk, better performance and an improved bottom line.
The Changing Face of Manufacturing
Today's manufacturers are actively leveraging IoT initiatives to realize internal process efficiencies. Many are changing how they design their production facilities to transform their business – streamlining production and improving productivity.
Consider a large heavy equipment manufacturer, which builds perhaps the world's most recognizable agricultural equipment. Leveraging IoT in its production lines, the company slashed the time it takes to produce a 330 gallon, fuel capacity machine at its facility in the United States from 42 minutes to 22 minutes. It did so by automating factory line processes and equipping it with beacons and retail sensor platform integrated with an IoT cloud platform. The company can now boast doubling production times, improved quality compliance at the work station level and increased utilization of employees by 20%.
Increasingly, the definition of a product is evolving to a broader, customer-centric construct, in which sensors gather data on customers' use of products and their performance, enabling predictive maintenance, insight into future product enhancements, even customer-focused features and improvements, along with better customer service. All are based on deeper insights into users' behavior, collected and aggregated from the products' sensors. By outfitting products with smart sensors and connecting them to key systems and networks – and even to each other – manufacturers are replacing transaction-oriented relationships with whole lifecycle engagement.
With its proven efficiency and productivity gains, it’s no wonder that the demand for IoT devices is exploding. According to Gartner*, total IoT service spending (including professional, consumer and connectivity services) will reach $471 billion in 2020, a 20% CAGR from 2015—and manufacturing is expected to account for about one-fourth of that market.
Mining? Yes. Oil and gas drilling? Sure. Manufacturing? Certainly. But not only these. Many companies in consumer-facing sectors will be seeing change as well, from banking to retail to airlines. Connected products and smart manufacturing are here to stay, and they'll be all around us. Learn more at Cognizant Enterprise IoT Solutions. (https://www.cognizant.com/cognizant-digital-business/enterprise-iot-solutions.)
*Gartner Forecast Analysis: Internet of Things —
Services, Worldwide, 2016 Update, February 2017: https://www.gartner.com/doc/3616117/forecast-analysis-internet-things-
For more great IoT-related content, register for LiveWorx 2018, June 17-20 in Boston!


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(LtoR) Christopher Pincher MP, Guy Williams
Tamworth-based Optical Coating Technologies received a visit from its local MP recently as part of a campaign to encourage good health and safety practices in the workplace.
Christopher Pincher MP visited the company, which applies optically clear coatings onto thermoplastics such as Polycarbonate, Acrylic (PMMA), PPSU and Polyurethane, for a range of products including domestic lighting, vehicle headlights, touch screens, safety goggles and police riot shields.
Mr Pincher took a tour of Optical Coating Technologies and met with local staff during his visit. Commenting, he said: “Looking at the range of products that are being produced here for a number of different markets has been really interesting. It is great to see some of these products guaranteeing people’s health and safety in the workplace.”
Guy Williams, Managing Director of Optical Coating Technologies, said: “It is so important to practice high standards of health and safety in the workplace for company success and for the protection of employees. We are delighted that our products go towards helping other organisations improve their standards of health and safety.”


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Abbott Laboratories ABT, -0.32% completed the spinoff of its pharmaceutical business Wednesday, establishing AbbVie ABBV, +0.24% as a separate company focused on biopharmaceuticals and new drug development.
The two companies will continue to share their Abbott Park, Ill., headquarters, but they will operate with distinct management structures and business objectives.
Abbott's product portfolio is split into four areas--diagnostics, medical devices, branded generic pharmaceuticals and nutritional supplements, such as its successful baby-formula brand Similac. The company is expected to beef up its medical-devices business through acquisition and increase its already-heavy exposure to emerging markets.
As for AbbVie, investors are betting its experimental hepatitis-C pipeline can help alleviate concerns about its best-selling drug--the anti-inflammatory Humira--losing patent protection at the end of 2016.
Amid a broad market rally Wednesday following the passage by Congress of the fiscal-cliff bill, Abbott shares rose 3% to $32.23, while AbbVie edged up 11 cents to $34.27.
The split was first disclosed in October 2011.
Abbott could use its cash position to make acquisitions and strengthen its struggling medical-devices segment, said Derrick Sung, a Sanford C. Bernstein analyst. Abbott's drug-eluting stents lead the market, but sales have struggled amid volume and pricing pressures.
If the company can acquire new technologies--such as implanted defibrillators--that are growing, it can take advantage of hospitals making bundled purchases of multiple products in exchange for discounts.
A key test for AbbVie is whether it can successfully bring new hepatitis-C drugs to market in the next few years. Executives have said sales for the company's treatment, which is in late-stage trials, could eventually exceed $2 billion annually.
Proving that it can develop new, blockbuster drugs is more important than ever as investors worry that Humira, which generated $6.58 billion through the first nine months of 2012, could be threatened by branded and generic competitors within a few years.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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The consumer affairs ministry has issued notices to more than half a dozen liquor brands for non-compliance with rules that prohibit surrogate advertising, said officials with knowledge of the matter. Liquor brands are advertising themselves using music CDs, packaged water and non-alcoholic beverages, said one of them.
"These are advertising liquor under the garb of selling something innocent," the official said, without divulging names. India doesn't allow alcohol advertising.
The companies have been given time to respond to the notices, said the people cited above.
"We have already responded to the notice received and have furnished all the necessary details. We have brand extensions that have a revenue model. Since these extensions are in their initial stage of the launch, it will take some time for their volume to grow. We are extremely hopeful that these brand extensions will grow as successful standalone brands in the times to come," said Amar Sinha, COO at Radico Khaitan.
Experts said liquor companies have to comply with the rules.
CCPA Guidelines "The fact, however, remains that it is a challenge to advertise in India, especially when there is a need to reach out and communicate during new brand launches or extensions," said Nita Kapoor, CEO, International Spirits and Wines Association of India (ISWAI).
Rediffusion managing director Sandeep Goyal said, "Top liquor brands are still advertising despite the regulations. There are foreign companies hoodwinking Indian laws which is not good. Any kind of ambiguity in regulations will only be incentivising marketers to find loopholes in the law."
Other companies didn't respond to ET's queries.
The Central Consumer Protection Authority (CCPA), the consumer rights protection body of the consumer affairs ministry, issued guidelines in June against surrogate or indirect advertising. Notified by the consumer affairs ministry, these came into force with immediate effect. In August, the ministry directed industry groupings to ensure compliance, failing which violators were warned of "stern action." The grouping included ISWAI, the Indian Society of Advertisers, Advertising Standards Council of India (ASCI), Confederation of Indian Industry (CII), Assocham and others.
Advertising for liquor has been banned in the country since 1995 but companies often use brand names on unrelated products to help with recall.
"Following the transaction, majority Indian ownership will create the regulatory space to even convert the operations into a B2C entity. It will provide a better shopping and pricing experience. But it's a call that has to be taken," said a source familiar with the transaction.


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With consumer concern growing around food packaging safety, brand owners can build trust by proactively developing an approach to ‘clean packaging’ and communicating it to consumers.
Clean food has been making its way onto menus for more than a decade, and as more and more consumers demand transparency around what they’re eating, some are beginning to look more critically at the safety of the packaging their food comes in. While individual chemicals have come under scrutiny, neither consumers nor the packaging industry have called for or developed a holistic approach to packaging designed to satisfy this new appetite for transparency. Professional networks like the Institute of Packaging Professionals (IoPP) have published documents to provide guidance in this space, however, no one standard or approach has been endorsed universally within the industry. Therefore, the responsibility will rest upon individual companies to address this emerging topic.
In the past, consumers relied on regulatory compliance to safeguard them from potentially harmful substances coming into contact with their food. But in today’s hyper-aware world, consumers are not only informed enough to raise questions about specific ingredients and chemicals, but they are also empowered via social media to drive real-world change. For example, Bisphenol A (BPA)—an industrial chemical used to make certain plastics and resins— has been linked by some groups to a variety of possible health problems, including cancer, obesity, and heart disease, and certain studies have shown it can seep into food or beverages. This ultimately led to the chemical being banned in multiple countries, and despite the U.S. Food & Drug Administration declaring it safe, many U.S. consumers have actively denounced it and avoid products that contain it. Other ingredients are coming under increasing scrutiny too, such as perfluorinated compounds (PFCs), which are used in at least one-third of fast food packaging materials as a grease barrier.
A recent consumer survey by HAVI showed that 30% of respondents have heard the term “clean packaging,” about two-thirds view clean packaging as at least “very” important, and 70% see it as equally or more important than clean food. These findings show that while clean packaging is not yet at the forefront of consumers’ minds, the underlying sentiment is important, and once triggered, momentum among consumers will build quickly. Without a strategic, fact-based approach to the matter, an uninformed frenzy could potentially ensue resulting in misinformation and public panic, which could be detrimental to the brands that depend upon these packages. Therefore, it is time for companies to leverage clean packaging to build consumer trust and position themselves as proactive advocates.
The first step for a brand to approach clean packaging is to define what it means to them. While consumers attribute a number of characteristics to clean packaging, such as “compliant to regulations” or “made from natural materials,” the message that resonates the most is “free from chemicals.” Because chemicals cannot be eliminated from the packaging equation, it becomes essential that the chemicals intentionally used be identified and understood for their potential toxicity. Therefore clean packaging requires at a minimum that a food company:
1. Provide visibility regarding everything that goes into a packaged product.
2. Simplify the materials used while minimizing the use of chemicals.
3. Leverage the ability of clean packaging to further enable clean food.
Next, businesses must determine the level of risk and criticality associated with the issue of clean packaging. As previously stated, clean packaging is not yet a hot-button issue for consumers. However, it will have an impact on consumer trust and could quickly become a central topic, especially given the viral nature of the Internet and social media.
To determine risk, businesses must understand their consumer base. For example, Panera’s website features a “food as it should be” section on the home page, including a link to information about clean food, which suggests their diners may be more responsive to clean packaging messages than diners at a Taco Bell, which does not include such information on its home page. Determining the importance of this issue for their consumer base will allow companies to more easily understand what resources are necessary to effectively address the issue of clean packaging.
The last consideration is to reflect on current practices and methods. Companies must know what is in their packaging and determine if they are able to provide that information in an honest and transparent manner to consumers. Complicating the issue are Non-Intentionally Added Substances (NIAS), which—with the advances in detection methodology—introduce environmental contamination into the equation. For a brand owner to lodge a reasonable defense when confronted with substances not part of their manufacturing process but detected at levels previously unnoticed, they must understand what is in and on their packaging. They should also explore solutions such as creating a list of chemicals or additives that should be avoided and finding suppliers that can leverage advances in packaging technology to further the goal of clean packaging.
The packaging industry is facing significant pressure to adapt to consumer preferences—from increased sustainability to developing materials that better serve e-commerce and delivery channels—and clean packaging is on the horizon, particularly for foodservice brands. Ultimately, clean packaging enables companies to tell a richer story around their clean food, further building trust with consumers at a time when they are demanding more visibility than ever before.
Source : www.packworld.com


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Target will partner with Barnes & Noble College Booksellers "to promote its college essentials products from Target.com," the Minneapolis/St. Paul Business Journal reported. A subsidiary of B&N Education, B&N College Booksellers operates campus bookstores at U.S. colleges and universities. A "handful" of B&N College bookstores are also testing online-order pick-up of products students buy on Target's website, the Journal noted.
In an investors call last week, Mark Tritton, Target executive v-p and chief merchandising officer, said, "For those campuses that aren't lucky enough to have one of the new small-format stores, we're partnering with Barnes & Noble College, which operates nearly 800 college stores around the country, to offer the Target assortment to more than 5 million students."
Lisa Malat, B&N College chief marketing officer, commented: "Our unique access to students and parents from the moment of acceptance to move in day allows us to bring Target's college essentials to our nearly 800 college campuses across the country. We are excited to partner with Target on their back-to-college strategy and together, ensure a smooth transition for our students as we kick off the back-to-college season."


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The Ciaz is available with a choice of seven colour options and three new dual-tone colour options.
Maruti Suzuki NEXA today introduced its mid-size sedan Ciaz in three new dual-tone colour options featuring advanced technology, elegant interiors, and an array of safety features.
Introducing the dual-tone Ciaz, Shashank Srivastava, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India, said, “The Ciaz has been a beloved choice among our customers and has attained remarkable success, completing eight years in the market. With its new avatar, we aim to further strengthen our position in the premium mid-size sedan segment."
Equipped with over 20+ safety features, the Ciaz now comes with Electronic Stability Program (ESP) and Hill Hold Assist as standard along dual airbags, rear parking sensors, ISOFIX Child seat anchorage among others.
The Ciaz is available with a choice of seven colour options and three new dual-tone colour options- Pearl Metallic Opulent Red with Black Roof, Pearl Metallic Grandeur Gray with Black roof and Dignity Brown with Black Roof.
Ola clocks 2 lakh unit sales in FY23; consolidates market share to over 30%
Ola Electric concludes FY23 securing the top spot with 2 lakh vehicles sold during the financial year.
ExxonMobil investing around Rs 900 crore to build lubricant manufacturing plant in India
The new plant is expected to produce 159,000 kiloliters of finished lubricants per year to help meet demand growth in In...
Spinny launches IPL campaign Go Far
The films will be released during the IPL 2023, scheduled to take place from today to 28 May 2023. The campaign is about...


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AVENAL — Avenal’s residents harvest California produce and nuts for the nation and the world, but they may not have much access to the really fresh stuff themselves.
That irony is part of the driving force behind a new regional effort to create a weekly farmers market in this small community on the western edge of the San Joaquin Valley.
California State University, Fresno, announced this week that the university’s Office of Community and Economic Development has received a $100,000 U.S. Agriculture Department grant to develop farmers markets in Avenal, Huron and Orange Cove.
Avenal will get $25,000, according to Sheila Verdugo, community activities supervisor for Avenal. She said the money will be used to hire a part-time farmers market manager, launch a marketing campaign and conduct training for vendors.
“We obviously know we’re sitting in the middle of farming communities all around us,” she said. “What we need to do is bring the fresh produce directly to our community.”
Avenal Mayor Harlan Casida said that there are three supermarkets in Avenal that sell produce.
Verdugo said the idea of the farmers market is to get food to people faster than they can get it in a conventional store and to create entrepreneurial opportunities for smaller farmers/vendors.
“It’s actually getting it into their hands in the freshest way possible,” she said. “I think it’s going to be huge for the community.”
The Fresno State press release announcing the grant used the term “food desert.” The phrase refers to the lack of access for people in many low-income areas to healthy food — even in communities like Avenal and Huron that are comprised mostly of farmworkers.
“It’s kind of ironic,” said Ismael Herrera, an associate director of the CSU Fresno office implementing the USDA grant. “It really is an issue of accessibility.”
Lack of transportation can also be a big issue, according to Herrera.
Residents may be only able to reach convenience stores, which may not stock fresh produce. They do stock plenty of packaged foods with unhealthy ingredients.
Even in stores that have produce may jack up the price because of the remoteness of the store and the lack of competition, according to Herrera.
Casida said Avenal residents travel to the Monday sale/swap meet in Hanford, where buyers can purchase anything from live chickens to fruit, vegetables and chili peppers.
According to Verdugo, Avenal has tried farmers markets before, but it didn’t work very well. She said lack of foot traffic was one reason.
She hopes it’ll be different this time around.
For one thing, there’s the Fresno State/USDA grant money to hire a part-time person with experience in farmers markets to oversee the process. She said nobody has been hired yet, but the search has begun.
For another, multiple organizations are involved in the planning, including the University of California Cooperative Extension Hanford office, Kings Community Action Organization and Family Healthcare Network.
“I believe that the planning and implementation this time around may [produce] a different result,” Verdugo said.
One of the obstacles is Avenal’s isolation from the rest of Kings County and the San Joaquin Valley. That presents challenges lining up enough vendors to make the farmers market work, according to Verdugo.
She said an effort is underway to recruit sellers who can include Avenal as a one of their regular stops in a circuit of farmers markets throughout Central California.
Verdugo said she and others involved in the planning effort are hoping to attract vendors/small growers from as far away as Fresno, Kerman and Visalia.
The market is also slated to include entertainment such as bounce houses and face-painting for kids as well as live music.
The farmers market is slated to launch sometime in the spring or summer of 2016, according to Verdugo.
“I think we have the right people in place to make this work,” she said. “We’re hoping for the best.”


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Lockdown has gotten a little bit brighter for those in affected areas, as M&M’s Crispy chocolate spread launches in Australia.
The M&M’s Crispy Spread can be found in convenience stores across Australia and is stocked by several online retailers. Although it is apparently not a super new product, it has recently come into the spotlight for Aussies after Go-To Skincare founder Zoe Foster Blake discovered it and posted it to her Instagram stories.
“I should not have bought this because now it’s in our house. Where our mouths are. What has become of me? This is not food,” she joked on her Instagram Stories.
Other shoppers have bought into the hype and given the product—which retails for $13.99—a try, commenting that it’s well worth it (and one shopper saying the sugar high resulted in two days without sleep!).
“I was a bit dubious about the product at first but I decided to try it—and I am glad I did. It’s a lovely, crispy with chocolate spread. I will be buying it again for sure,” one convert wrote.
Another said: “This taste like a piece of heaven,” while another added: “We love it. It’s so creamy and sweet.”
People are reporting that as a result of its recent popularity, many retailers are out of stock, leaving desperate M&M’s connoisseurs to pay $34 a jar on Amazon.
The chocolate spread comes just weeks after M&M’s joined forces with Hubba Bubba to create a nostalgic bubblegum-flavoured chocolate product.
While the M&M’s don’t actually contain gum, each piece of chocolate candy has a Hubba Bubba-inspired flavoured shell (think Groovy Grape and Seriously Strawberry!).


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Apple's third-generation iPhone SE could resemble iPhone XR, which launched in 2018, and have Touch ID embedded into a power button. It could also be Apple's last LCD-based handset as all of the other models the company currently sells use OLED panels.
iPhone SE 3
The upcoming iPhone SE 3 design could be very familiar as a new rumor alleges that the third-generation iPhone SE will have the same industrial design as the current iPhone SE 2.
iPhone SE, 5G and the upcoming A15 chip should be Apple's answers to the iPhone 12 mini, which the company apparently stopped producing recently due to shockingly low sales.
iPhone SE 3 is being readied for a commercial launch scheduled for the first half of 2022, featuring Apple's A14 chip from the current iPhone 12 series, according to a new report.


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Here is a breakdown of wholesale prices and trends of the various fertilizers:
Global ammonia prices remained soft for most of January but seemed to have bottomed out at least in the west by the end of the month.
Excess supply relative to demand has led to further weakening in the east. Despite turnarounds in Indonesia and Australia, there is still talk of one or two spot cargoes still needing a home. Far East cost and freight (CFR) prices fell to $308-$320 per metric ton (mt) at the end of January, compared to $330-$360 in late December.
In the west, Yara and Mosaic settled the Tampa, Florida, contract for February at $285 per mt CFR -- a rollover from January. Domestic ammonia prices in the U.S. are still relatively high, but on the downside, inventories are reported to be long and DAP prices are still soft. Yet, producers appear to be comfortable for now with no exports sales reported.
While the market seems flat for now, the global market still seems far from a major recovery with both urea and DAP prices still weak. Therefore, prices are expected to run steady in the short term.
Interior markets were quiet with prices mostly steady. Spring still seems distant with subzero temperatures prevalent across the Midwest late in the month. So far, producers continue to hold firm to their spring prepay offers at $525-$545 per ton (t) FOB (free on board -- the buyer pays for transportation of the goods). But buyers are wondering if the weakness seen in UAN and urea will begin to bleed into Corn Belt ammonia prices now that an early spring seems doubtful. There are also reports of some retailers purchasing more urea for spring, and less ammonia, due to the expected time crunch facing farmers preplant and the relative affordability of urea compared to ammonia this year. Prompt ship ammonia tons remain at a strong discount, though at this point, all available space appears to be filled, and most are waiting for spring.
Ex-plant prices (the price at the factory, not including any other charges, such as delivery or subsequent taxes) in the Southern Plains are reported higher at $400-$460/t FOB for prompt, compared to around $360 in late December. There is scattered demand emerging in central and northern Texas, and some traders are reporting that prompt offers are biddable.
On Jan. 31, Magellan Midstream Partners reported in its fourth quarter 2018 financial results that it has made the decision to discontinue commercial operations of the ammonia pipeline beginning in later 2019 due to the system's low profitability and the expected decline in anhydrous ammonia production.
The outlook is bearish for prompt prices but stable for Corn Belt prepay, at least in the short term.
Global urea prices softened in January due to a smaller-than-expected tender purchase from India and continued slow demand in the U.S. and Brazil.
Market sentiment was positive ahead of the Indian tender; however, the mood changed when 2.9 million metric tons (mmt) were offered at a time when India is likely to only buy around 500,000-800,000 metric tons (mt). The result of the tender was especially disappointing, as only 515,000 mt was eventually purchased, with very limited coverage from the Arab Gulf, while China saw most of the business.
Global prices reacted with buyers in Brazil and New Orleans, Louisiana, (NOLA) able to push prices down in their respective markets -- the latter being exacerbated by a dramatic cold snap. Brazilian CFR levels fell to $275-$280 per mt, compared to $290-$300 early in the month.
Demand elsewhere failed to surface, and North African FOB values fell to $257-$285 per mt, from $272-$300 per mt in early January.
The return of Chinese exports, albeit still somewhat reduced compared to previous years, and softening gas prices in key markets is pressuring prices lower and is expected to continue to do so in the medium term. That being said, seasonally increasing demand in the U.S. and Europe should help to keep prices mostly steady through February.
Barge prices continued their tumble in January with trade at $243-$250/t FOB during the last week of the month, as a polar vortex made its way into the Midwest and news on the international front remained bearish. Prices were down about $25 from early January. Weaker prices into Brazil continue to be a focal point for U.S. traders as U.S. supply for the season remains up to speed with last year. Many feel there is upside to the market once application is underway, but for now, weather remains the issue and there does not appear to be much improvement expected in the next 20 to 25 days.
River terminal prices are also softer, but remain at a pretty wide spread from NOLA, with most quotes around $285-$305/t FOB. Spring offers are showing less of a carry, with more sellers beginning to show flat pricing through the season. Overall, markets were quiet with buyers and sellers apparently hunkering down, waiting for the weather to improve.
The price outlook is slightly soft in the short term with pressure from recent imports against thin nearby demand. However, price support is expected when domestic end-user activity picks up later into February.
Domestic UAN prices continued to soften in January. Early in the month, CF dropped its major river terminal prompt prices by $20 to $220/t FOB for 32%. The price decrease did little to stimulate buying and likely gave more reason for buyers to continue deferring purchases. Some market participants are accrediting pressure from imports as the reason for CF's price drop, and it is thought that this will discourage further imports. Others believe it had to do with UAN being overvalued compared to urea or that CF is facing containment/sales issues. Overall, it seems all these reasons likely played a part.
Speculation continues in the market about when CF will announce spring prepay prices. Some market participants expect an announcement before the TFI Annual Meeting taking place in Orlando on Feb. 11-13. It remains to be seen whether the domestic producer will be bullish or bearish, having earlier this month dropped prompt prices.
The NOLA barge price has edged down slightly to $190-$200/t FOB NOLA.
East Coast activity re-emerged late in January after a period of inactivity with EuroChem selling 15,000 mt at $220-$225 per mt CFR for January shipment.
The price outlook for UAN is slightly soft in the short term. Wintery weather means an early spring is unlikely, suggesting a shorter ammonia application period. Retailers are reportedly expected to buy more urea and UAN instead of ammonia, which could provide support for prices.
Global phosphate prices continued to weaken as supply outweighed seasonally slow demand. No market highlighted this more than the NOLA barge market.
DAP barge prices fell by about $25 through the month, eventually trading at $360/t FOB, compared to $388-$390 in early January. A lack of activity -- but more crucially a surge of imports -- has combined to pull the price down. January is estimated to have record phosphate imports, with around seven cargoes from Morocco alone. The lineup for February continues to grow. It is not just Moroccan metric tons that have flooded the market but also product from Mexico, Saudi Arabia and Russia. With more and more arriving, pressure has been building to move the metric tons through distribution channels, which saw low disappearance last fall due to a below-average application season.
Moving east of Suez, more DAP has been sold into India both from Saudi Arabia and China. The quantity of imported DAP purchased so far in the first quarter has been somewhat surprising given comfortable stock levels. But prices have continued to soften, falling about $10 from last month to around $406 per mt CFR.
Cheaper raw material costs (sulphur and ammonia), combined with seasonally slow global demand, is keeping the short-term price outlook soft.
As mentioned above, domestic phosphate barge prices were under pressure in January due to a never-ending armada of imports arriving. The price of DAP fell by about $25, while MAP declined by $30, with trades at $360-$365/t FOB and $365-$370, respectively, during the last week of the month. MAP has been fluctuating between a $0-$10 premium to DAP.
River terminal prices are generally off about $10, due to cheaper replacement costs, with DAP quoted at $405-$415/t FOB and $410-$420 for MAP. There is little buying interest being shown from dealers, as end-user activity is seasonally slow, and there appears to be little incentive to buy currently. There was some dry fertilizer being applied in eastern Kansas, southeast Nebraska and northwest Missouri during parts of the month when weather would allow. Texas also had a bump in activity as fields dry and farmers prepare to plant corn in February.
The outlook for phosphate prices is soft in the short term, considering buying interest is expected to continue to be low while imports appear to be strong. That being said, some price support is expected once spring applications take off.
January brought conflicting trends to domestic potash prices. Early in the month, Canadian producers announced a $10 price increase for granular potash for prompt shipment through March, to be effective Jan. 16, bringing the new price to $330-$340/t FOB inland Midwest warehouse. This essentially gave customers an opportunity to book all they need for the first quarter ahead of the price increase, which most chose to do.
Despite bullish news from North American producers, barge prices at the Gulf softened with trade at $275-$285/t FOB during the last week of the month, compared to $285-$290 in late December. There is relatively little storage space available following a below-average fall application season, and retail demand is seasonally slow, limiting the need of buyers to reload. Additionally, areas of the Southern Plains and Midsouth, which could be doing some early application work, are not because of wet fields.
River terminal prices are unchanged from last month at $305-$320/t FOB, despite weakness in the barge market. These prices are not expected to be affected by the weakness in the barge market as the lower prices appear to be more of a function of slow demand outlook in the next 30 days against demurrage costs, rather than oversupply for the spring season.
The outlook for potash prices is steady in the short term, but prices are expected to firm up to producer-posted values during the spring season. Further out, depending on how the spring season progress, it seems likely that producers will be looking to discount prices for the summer fill period.
Editor's Note: This information was supplied courtesy of Fertecon, Informa Agribusiness Intelligence.
Copyright 2019 DTN/The Progressive Farmer. All rights reserved.


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“What the government has done is not as significant a move as many anticipated,” said Siddarth Pai, co-founder at venture capital firm 3one4 Capital and an active campaigner against double taxation
“It has not removed the tax, but only deferred the payment of the tax,” said Pai.
The government has proposed that the payment of tax levied during the conversion of ESOPs
into shares be deferred by five years. However, the tax will have to be paid if the employee leaves the firm or sells the shares before five years.
Further, the concession applies to only start-ups that were incorporated after April 1, 2016, and are cleared by the government-appointed inter-ministerial board (IMB), as specified under section 80-IAC of the Income Tax Act.
are a key instrument to attract and retain talent in startups.
However, currently, the allottee of ESOPs has to pay tax twice—once when ESOPs are converted into company shares (construed as salary income), and when shares are sold off for cash (considered as capital gains).
“It is great to see the Government acknowledging the ambiguity around ESOP taxation
but limiting it to factors such as turnover of ₹100 crore, 5 years of employment or when the employee leaves the company might not fully solve the problem,” said Vivek Gupta, co-founder at Licious, a Bengaluru based start-up.
Corporate tax concession, Seed fund
The government also proposed to extend corporate tax concession to eligible startups. A start-up with an annual turnover not exceeding Rs 100 crore can now avail exemption from paying tax on profits for a period of 3 years within a 10-year window. The exemption was earlier for start-ups below Rs 25 crore turnover and had to be availed within 7 years.
also sought to ease some burden on micro, small and medium enterprises (MSME). The minister proposed that businesses with less than Rs 5 crore turnover will not be required to audit their financials through external accountants, a move that will bring down their compliance costs. Earlier, the threshold was Rs 1 crore turnover.
In addition to the Fund-of-Funds (FFS) scheme, which provides money to Indian venture capital firms, a special seed fund has been proposed. Unlike FFS, the seed-fund will directly invest in startups. However, the quantum of this fund, and timeline, among other details, were not announced.
According to government data, Small Industries Development of India (Sidbi), which manages (FFS) has so far put Rs 3,120 cr committed to 47 VC firms.
The many initiatives are welcome for boosting the ecosystem, “however, the government is yet to address some of the key asks of the start-ups such as allowing listing of start-ups in other countries which will give them access to greater capital; providing further impetus to Fintech ecosystem, that is now providing significant outreach and lending platforms to SMEs and consumers alike,” said Ankur Pahwa, partner and national leader for e-commerce and consumer internet, EY India.
Benefits and beyond
Seed fund to support early-stage start-ups
Start-ups with turnover of ~100 crore to get tax rebate for three years
Tax payment on ESOPs deferred
Story so far..
Rs 3,120 crore committed to 47 VC firms through Fund of Funds
Govt has invested Rs 2,286 crore in 264 start-ups
22,000 start-ups recognised by DPIIT


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Helping Keep The Daventry Community Local
Sat May 8, 2021
- Elections 2021: Tories win first new Northamptonshire councils race - The Conservatives take control of both West and North Northamptonshire councils.
- Kettering attacker jailed over confrontation that killed partner - A confrontation escalated after a car driver remonstrated with a couple in the middle of the road.
- Anita Neil: Britain's first black female Olympian a 'hero pioneer' - Anita Neil, who competed in the 1968 and 1972 Olympic Games, says she had felt "ignored" until now.
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Cost of Living Rising!
Posted by Administrator : Tuesday 12th March 2013
COSTING US OUR LIVELIHOOD? It is estimated that the cost of living looks expected to continue to rise this year with stable incomes versus increasing costs of everyday household items. In recent years the cost of living has been as high as 5 times more than wage rises.
It is important for any household, family or local business to keep costs low. Many have had to give up on certain luxuries and buy alternatives. In the current economic climate this does not look set to change any time soon and if anything it could get worse.


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