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DATATRAC: Restaurant & Foodservice – April 2016
• 9021Pho out of Beverly Hills named Omar Pineda (formerly at P.F. Chang’s) Corporate Executive Chef.
• Applebee’s named Cammie Spillyards-Schaefer Executive Chef and VP of Culinary and Menu Strategy.
• Arby’s Restaurant Group announced that Darla Morse joined the company as CIO reporting directly to CEO Paul Brown.
• Captain D’s named Keith Davis CFO.
• Chicken Salad Chick announced the appointment of former Focus Brands CEO Russ Umphenour as Chairman of the Board.
• Chipotle named James Marsden as its new Executive Director of Food Safety in its bid to right the ship. Marsden is a Kansas State University meat-science professor and food-safety expert.
• Cracker Barrel announced that Jill Golder would join the company on 4-25-2016 and assume the CFO position on 6-6-2016 when current CFO Lawrence Hyatt retires. Golder recently resigned as CFO from Ruby Tuesday Inc.
• Darden Chairman Jeff Smith has resigned from the board. Chuck Stonsteby assumes the position.
• Dunkin Brands minted a considerable amount of new VPs with promotions for Sherrill Kaplan, VP of Digital Marketing & Innovation; David Gill, VP of Supply Chain, U.S. & Canada, Dunkin’ Donuts and Baskin-Robbins; Pete Jensen, VP of Supply Chain, International; Dennis McCarthy, VP of Financial Management; and Kathryn Thomas, VP of Legal and Managing Counsel.
• Eat’nPark Hospitality Group VP of Creative Services Cliff Miller retired.
• El Pollo Loco COO Kay Bogeajis stepped down to pursue other interests. The company will seek a permanent successor.
• Famous Dave’s of America has a new CFO, Dexter Newman, formerly of Bloomin’ Brands.
• Frisch’s Restaurants Inc. named Jason Vaughn CEO.
• Houlihan’s Restaurants named Michael Slavin Director of Culinary.
• Joey Restaurant Group has promoted Al Jessa to President as announced by CEO Jeff Fuller.
• Rave Restaurant Group named Kim Johnson as new VP of Human Resources.
• Ruby Tuesday Inc. CFO Jill Golder resigned to join Cracker Barrel. Ruby Tuesday will begin the search for a successor. In other news, the company named Tom Williams Chief People Officer.
• Saladworks named Patrick Sugrue CEO to replace outgoing President and CEO Paul Steck.
• Starr Restaurant Group named Alex Lee, formerly Chef at Daniel, as its new Culinary Director.
• The ONE Group named Alejandro Munoz-Suarez COO, replacing John Inserra who previously announced he would be stepping down.
• TS Restaurants (14 restaurants in Hawaii and California) promoted Jackie Reed to CEO. He takes over for retiring Chairman and CEO Bill Parsons.
• Uncle Maddio’s Pizza has a new COO, Scott Goodrich, formerly the Senior VP of Operations. In other moves, Jenelle Brown received a promotion to VP of Training and HR and Brandon Higginbotham joins as the Director of Real Estate and Store Development.
• Blaze Pizza reported Fiscal Year End (FYE) 12-27-2015 systemwide sales of $101 million, up from approximately $30 million in 2014. While tripling sales, the company doubled the number of stores, up to 105 at year end, and plans to add about 100 more units in 2016.
• MOD Pizza raised $32 million in equity funding in its efforts to double its store base in 2016 to roughly 200 units.
• Chipotle doesn’t have enough on its plate, so the company is considering opening a burger concept and recently filed a trademark application for “Better Burger.”
• Cracker Barrel will launch a new fast-casual biscuit-house concept, Holler & Dash, this spring. The initial store will be in Homewood, Alabama.
• Doctor’s Associates Inc. installed new menus with calorie counts at all U.S. Subway locations.
• Dunkin’ Brands is testing prepared sandwich kiosks in a limited number of markets. To date offerings have included subs, sandwiches and fruit-and-cheese plates.
• McDonald’s announced that it would grow its presence in China from its current 2,200+ outlets by more than 1,000 units in the next five years, making China the largest market outside of the United States.
• McDonald’s will introduce table service at 400 U.K. locations by fall 2016 in a bid to cast the chain in a slightly more upscale light. In the U.S., a new store in Missouri will also feature table service, along with computerized ordering kiosks and (wait for it . . .) all-you-can-eat fries.
Mergers and Acquisitions
• Jamba Inc. completed its refranchising initiative in its bid to transition to an asset-light business model. The company ended FYE 12-31-2015 with 70 company-owned stores and 820 franchised locations.
• Red Robin Gourmet Burgers bought back 13 of its 24 franchised locations in Texas as a component of a larger growth strategy.
• Smith & Wollensky Restaurant Group will be acquired by Danu Investment Partners Ltd. (Ireland) from Bunker Hill Capital in a deal expected to close this summer.
• Yum Brands may be looking to sell a 20 percent stake of its China operations, according to The Wall Street Journal, as a tax-saving move ahead of an anticipated spinoff of Yum China.
• Arby’s Restaurant Group announced franchise development agreements for a total of 138 new restaurants. Deals include 70 new units for United States Beef Corporation, Arby’s largest franchisee, and 25 new stores in Illinois, Wisconsin, Iowa and Nebraska for D.R.M., Inc.
• Charlie Graingers announced the addition of another multi-unit operator in the Florida panhandle and reiterated plans to continue expansion in the Southeast through 2016 while beginning a move into neighboring states later in 2016 and 2017.
• Checkers Drive-In Restaurants looks to place up to ten new units along the Grand Strand in South Carolina over the next five years.
• Chicken Salad Chick announced that it has franchise deals in place for 146 locations and plans at least 30 openings in 2016.
• Chick-fil-A Inc. announced a full-scale Michigan roll-out with 20 restaurants slated for the state in the next five years.
• CKE Restaurants Inc. inked a franchise-development deal with Pavilion Restaurant Group that covers 80+ new Hardee’s restaurants in Ohio and 40 in Florida in the next nine to 12 years.
• Dave & Buster’s is going to Vegas with the first store opening this summer.
• Dickey’s Barbecue Restaurants will open its first two stores in upstate New York – Buffalo, to be specific. Look for an opening in 2016 and another in 2017.
• Dig Inn, the Manhattan-based chain of fast-casual “farm-to-table” restaurants (11 locations), plans five to seven new stores in 2016 that includes a presence in Boston.
• Famous Dave’s of America expands into North Carolina as franchisee Bart Kinzel plans to open the first of three stores in Charlotte in 2017, an area to which Kinzel owns exclusive rights.
• GPS Hospitality, founded by one-time Arby’s CEO Tom Garrett, completed a deal to purchase 7 Atlanta-area Popeye’s franchises from the company along with rights to new locations in Atlanta and West Virginia. Garrett plans to open three new Atlanta units in 2016 and aggressively grow his territories in the next two years.
• Hwy 55 Burgers Shakes & Fries has signed agreements with two franchisees to add to its current Texas store count (two) with up to 300 new units in the next ten years.
• International Dairy Queen Inc. has set its site on expansion. In Massachusetts, the five-year plan is to add 60 stores to its current 33-location base, while in California, the chain has scoped out 400 sites for buildings in the next 10 years.
• Marco’s Pizza plans 127 new stores in Texas by 2020, working with three existing franchise partners.
• Matchbox Food Group opened its first Matchbox American Kitchen + Spirits Texas location in Dallas, bringing their total store count nine. The first Florida location (Sunrise) and another Virginia store are in the immediate future, followed by additional moves in Texas, Florida and the mid-Atlantic region.
• McAlister’s Corporation’s largest franchisee, The Saxton Group, announced a move into Nebraska with five locations to open in Omaha and Lincoln. That brings Saxton Group’s total of planned openings to 40 new locations.
• Papa Murphy’s International is Hawaii bound with plans for 15 stores in four years with franchisee Take-n-Bake Hawaii LLC.
• Paris Baguette estimates it will open 21 new stores in 2016, almost doubling its current count of 45 U.S. locations. The chain operates approximately 3,300 units in South Korea.
• Pieology Pizzeria opened its first location in Hawaii. Franchisee Cotti Foods plans to open a total of 20 Pieology stores in the state.
• Plamondon Companies will add six Roy Rogers locations to the current base of 50 in 2016, focusing on existing markets of New Jersey, Maryland and Virginia this spring.
• Saladworks will expand in Tennessee and Kentucky. Franchisee Eat Ur Greens LLC has agreed to build eight new units over the next few years.
• Shake Shack made its California debut in L.A. Two more locations in the state will follow in 2016-2017 along with first-time opening in Texas, Minnesota and Arizona.
• Smashburger looks to add 15 stores in Georgia (Atlanta and Savanah) and five stores in Florida (Broward County) in the next seven years. Plans call for 60 to 80 new units nationwide in 2016.
• Smoke’s Poutinerie moves into the Midwest with three locations planned in Michigan and additional stores to open in Indiana and Ohio in the next few years.
• Smoothie King Franchises Inc. is growing its franchise presence in Orlando from its current seven locations with 18 new outlets divided among three franchisees.
• Sonic Corp. announced a new franchise development agreement that will see the brand establish a presence in Hawaii, its 46th state. North Shore Provisions LLC will open seven stores, beginning in Oahu in 2018.
• Greens Restaurant Group returns focus to its roots with plans to open five new sweetgreen units in the DC area in 2016.


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As CarTrade looks ahead to an IPO, it has to contend with well-funded competition in the space as well as the challenges for the used cars market in India
With the expected growth for electric cars, autonomous vehicles and more in the next few years, will older ICE used cars remain appealing in the long run?
Beyond this, CarTrade is also uncertain about how deep the impact of Covid will run with no clarity on the economic recovery or any government regulations that may impact the sector
Automobile marketplace CarTrade filed its draft red herring prospectus (DRHP) with Indian markets regulator Securities and Exchange Board of India earlier this week in preparation for its upcoming initial public offering (IPO). While there is no timeline for the IPO, companies typically execute their listing within six months of filing the prospectus, given that market conditions and therefore the confidence of the market change quickly in the tech industry. As usual, CarTrade has listed the risks it sees for itself in the future after its IPO.
For CarTrade, the challenge is not just overcoming the slowdown of the past year, which has been severe on the mobility and automobile sector but also looking at the changing market landscape within this industry. At the moment, the company is only going for an offer of sale and not looking to raise massive funds from the stock market through its IPO. But as usual with any IPO from the tech startup ecosystem, there are plenty of risks and questions around CarTrade’s public offering too.
Are New Mobility Models A Risk For CarTrade IPO?
To begin with, the company acknowledges the risk and the potential threat from changing models of ownership and rentals in the automobile industry. With the expected growth for electric vehicles, connected vehicles and more, will older used vehicles remain appealing in the long run as these new-age automotive platforms enter the market?
“Demand for cars sold through our platforms may be adversely affected by trends that lead to a decline in demand for cars. In addition, a growing share of younger people no longer purchase or lease their own cars, opting for ride-hailing services, ride-sharing services, car rental services and public transportation instead” — CarTrade’s DRHP
While the company admits that ride-hailing and shared mobility took a backseat during the pandemic when personal vehicles were more predominantly used, it does say that ride-hailing services, public transportation and shared mobility services may continue or even intensify after Covid, due to urbanisation continues and population migration back to major cities. This could once again become a risk factor for investors backing the used cars industry.
CarTrade was founded in 2009 by Vinay Sanghi and as of last year, it claimed to be selling 1 Mn vehicles a year. More than 40 OEMs and 15,000 plus dealers work with the CarTrade Group and it has over 180 owned or franchisee stores. The company last raised INR 321 Cr in a Series H round, as reported exclusively by Inc42 last June, from HighDell, MacRitchie Investments and others.
VG Ramakrishnan, founding partner and MD of advisory and consulting firm Avanteum and former South Asia MD at Frost & Sullivan where he co-lead the automotive and transportation practice, believes personal mobility has seen a bit of a resurgence, but right now neither personal nor shared mobility is rising. “Shared mobility is bound to come back as normal operations resume, assuming that the vaccination count keeps rising. It saw major growth because of the convenience it offered to those in cities, and that is not going to change.”
As mentioned earlier, the company is also wary of the advent of newer connected vehicle solutions that could make it difficult to provide the supply for the customer base. “Further, demand for certain types of used cars may suddenly decline due to the introduction of innovative technologies for new cars, such as autonomous driving systems. The used cars listed on our platforms may not offer such innovative features and we cannot guarantee that more innovative cars will be sold on our platforms as it may take several years before they become available in the used car market,” the filing read.
But from the investor point of view, this is not much of a risk, according to Avanteum’s Ramakrishnan. “Will we see electric vehicles being sold in big numbers by 2027 in India? I don’t think so. This is not a risk for the investor per se, since even today when you go to the marketplace you will see cars bought two years ago being sold,” Ramakrishnan told Inc42.
Besides the next generation of vehicles, CarTrade is also concerned about financial partners offering better deals for newer types of vehicles. It also cited challenges related to anti-pollution standards, which require commercial vehicles be replaced regularly. “This could make buying a new vehicle more attractive. As a result, sales of used vehicles through our platforms may decline,” CarTrade stated.
The Covid Impact – CarTrade Treads On Uncertainty
Beyond this, CarTrade is also uncertain about how risk from the impact of the Covid pandemic ahead of its IPO. The company said, “it may affect our ability to execute our growth strategies and expand into new products and services”. The expected impact of the pandemic is widespread according to CarTrade and the company claims to be assessing the situation as it plays out.
However, the actual impact of the pandemic remains uncertain and will be dependent on the spread of the coronavirus and steps taken by the government to mitigate the economic risks and impact and it may differ from the company’s estimates.
“Any intensification of the COVID-19 pandemic or any future outbreak of another highly infectious or contagious disease may adversely affect our business, results of operations, cash flows and financial condition. Further, as COVID-19 adversely affects our business and results of operations, it may also have the effect of exacerbating many of the other risks…” it added
Amid the second wave, major players in the industry have seen a decline in sales, which could impact the future supply of used cars. While demand remains strong, there are challenges in supply chain, dealership activity, labour and customer movement. In the passenger vehicle space, Maruti Suzuki registered sales of 1,35,879 units in April, a decline of 7% from March (1,46,203 units), and Hyundai India’s sales declined by 6.8%, Tata Motors sales were down by 15.4%, while Kia India was down by 15.6%.
How Quickly Will The Used Cars Market Grow?
India’s pre-owned car market grew steadily in 2020, touching 4.4 Mn units, as per Inc42 Plus analysis. The preference towards pre-owned cars in India is due to more affordability being provided by them as compared to new cars. India’s used car market is estimated to reach between 6.7 Mn to 7.2 Mn units sold per year by 2022, with the value of the segment pegged at INR 50,000 Cr, according to the outlook report by Mahindra First Choice.
A major challenge with the used-car market was matching the right model car with desired features, price and overall condition of the vehicle that the customer required. However, with digitisation and automation in the listing and inspection process, such challenges have been largely overcome. On the back of this, the organised used car channels are expected to grow from an 18% market share in FY2019 to 30% in FY2022. The question for CarTrade is whether it can continue to compete with the host of competitors in this space that are also equally capitalised.
Warburg Pincus is the largest stakeholder in CarTrade, with a shareholding of 34.44%, followed by Temasek’s 26.48% shareholding. JP Morgan holds about 11.93%, whereas March Capital owns about 9.79 shares through Springfield Venture (7.09%) and MCP3 SPV LLC (2.7%). Founder Sanghi and family has a shareholding of 3.56% in CarTrade. The company competes with unicorns Cars24 and CarDekho (owned and operated by Girnar Software Pvt Ltd), as well as Mahindra First Choice, General Catalyst-backed Spinny, Sandeep Aggarwal-founded Droom.
It could very well boil down to which startup has the most efficient and effective customer acquisition strategy, and in this regard, CarTrade would have to change its tack from being reliant on word-of-mouth in the past year to increase its marketing spend. This would also ultimately affect its profitability given that a large portion of its INR 85 Cr profit in FY21 till December 2020 has come due to customer acquisition costs being cut by nearly 80% in this period. CarTrade may have to give up its profit margins or lose out on user reach when things bounce back to normal.

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Mobilk - Continuing to pioneer the latest technologies and solutions, Ooredoo has signed an agreement with Finland-based digital business support system (BSS) provider Tecnotree, as vendor for its digital billing system. Based on microservices architecture and built on open-source software platforms, the system supports both traditional and digital offerings, providing a platform for high performance billing and revenue management functions, efficiently tracking usage and payment, and offering personalised billing for each and every subscriber. Ensuring a cost-effective and efficient way for customers to manage their bills, it’s part of Ooredoo’s mission to provide a state-of-the-art digital experience.
Dr. Ahmed Abdullah Al Abri, Chief Technology & Information Officer at Ooredoo, said, “The digitalisation of our billing system is the next major step in our digital transformation strategy, which most recently has included our Digital CRM, and our Single Rating Ericsson charging solution. By continuing to utilise new technologies we are laying the foundation for the next era of IT Architecture, while providing both our B2B and B2C customers with an excellent digital experience that both simplifies and enriches their lives.”
As a data experience leaders, Ooredoo continues to expand and enhance its offerings, providing innovative products and customer-centric services to its growing number of users. Supporting the unique needs of individuals and businesses across the Sultanate, it strives to increase the value of the Ooredoo brand, stay ahead of the competition, and cater to the ever-evolving needs of its customers.
Ooredoo is kicking off 2022 by giving customers a chance to win tickets to major matches around Europe. All Home Internet, Hala prepaid and Shahry..
Offering unique services for every kind of user, Ooredoo’s Hala SIM is absolutely free. All customers have to do is select their plan of choice and..
Reinforcing its role as the digital partner of choice for a growing number of companies, Ooredoo recently held an exclusive networking event at W Muscat. The event, which included the participation of more than 20 Small and Medium Enterprises (SMEs), highlighted the telecoms company’s latest B2B..


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Just what the regulars at Tim Hortons didn't expect Thursday — a different kind of doughnut hole in their daily routine.
Instead of the usual coffee and doughnuts, they were greeted with news that Tim Hortons had abruptly closed all its shops in Connecticut.
On Thursday afternoon, more than a dozen vehicles pulled into the Tim Hortons parking lot in Wethersfield in a 10-minute period on the Silas Deane Highway. Most people seemed surprised to see signs saying, "This location is closed.Thank you for your patronage." A large dumpster was in the parking lot.
The company acknowledged that it was unable to woo enough customers from competitors that include the long-established Dunkin' Donuts, dominant in the state for decades.
"We were thankful to have loyal customers, there just weren't enough of them," said David Morelli, a Tim Hortons spokesman.
The closing of 11 shops in Connecticut was part of a plan announced late Wednesday to shutter 36 shops in New England that weren't profitable. The Connecticut locations were in Wethersfield, Rocky Hill, Vernon, Plainville, Meriden, Mystic, Stonington, North Stonington, Norwich and Groton. Groton had two locations.
Tim Hortons announced the closings Wednesday as it announced its third-quarter earnings. Although the earnings were strong overall, the results included an operating loss of $17.5 million for its U.S. locations. The company blamed the loss on poorly performing locations in Connecticut, Rhode Island, Massachusetts and Maine.
Some employees didn't learn of the closing until they reported for work Thursday. Morrelli said he didn't know how many workers lost their jobs and declined to comment on a report that there were about 70 full- and part-time employees losing their jobs.
Morelli said that displaced workers would be offered severance packages and career counseling.
When asked about the abruptness of the closings, Morelli said: "We just wanted to make a prudent decision and take quick action and, unfortunately, move on."
Tim Hortons first entered Connecticut when it took over the ailing Bess Eaton doughnut shops in 2004, and eventually added more shops. Besides doughnuts and coffee, Tim Hortons sold tea, muffins and sandwiches.
Tim Hortons operates 3,703 locations in North America, including 3,082 in Canada and 621 in the United States, according to its website. Morrelli said that Tim Hortons will continue expanding in other U.S. markets.
Decisions still must be made about the closed shops, some of which are owned, while others are leased, Morelli said.
Joe Rudnick of Hartford slowed down Thursday afternoon to look in the window at the Tim Hortons in Wethersfield. He'd been going to this location three or four times a week for a couple of years, ever since it opened, a convert from Dunkin' Donuts. He looked forward to a cup of coffee and a muffin or an egg sandwich.
But Rudnick, 89, could see that business was slow. Sometimes, he was the only one in the shop.
"Now, I'll have to go back to Dunkin' Donuts," he said.


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Ohio to net $39.4 million from multi-state settlement with Suboxone maker
Ohio Attorney General Dave Yost on Wednesday announced that Ohio would get $39.4 million of a $700 million multi-state settlement with Suboxone maker Reckitt Benckiser Group. The settlement stems from accusations that the company made false claims about its products.
Suboxone, an opioid, is intended to help ease people out of addictions to opioid drugs such as Oxycodone and heroin, from which sudden withdrawal can be excruciating. In a statement, Yost accused Reckitt Benckiser of soft pedaling Suboxone's addictive potential.
“This firm downplayed the risks of Suboxone while marketing it to providers who sidestepped the rules for prescribing opioids,” Yost said. “These are the sort of practices that landed us in this opioid crisis.”
Reckitt Benckiser couldn't immediately be reached for comment.
The investigation into the company's practices was led by the National Association of Medicaid Fraud Control Units. State attorneys general in Ohio, California, Indiana, New York, Virginia and Washington participated. It found "that Reckitt Benckiser knowingly promoted Suboxone to doctors who prescribed the drug to patients for uses that were unsafe, ineffective and medically unnecessary," the statement said. "The company also made fictitious claims that Suboxone Sublingual Film, another form of the drug, was less prone to abuse and accidental pediatric exposure than similar products."
In addition, the investigation also found that Reckitt Benckiser fraudulently blocked generic alternatives from reaching market in order to keep up the price of the Suboxone that it produced.


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Home Tags Security
SparkCognition closes Series B on $56.6m
SparkCognition, an Austin, Texas-based security analytics company, has closed its Series B financing round on $56.5m. Last year, the company announced an initial Series B...
Zwipe, Gemalto to launch fingerprint activated payment card
Biometric technology company Zwipe has joined with card manufacturer Gemalto to launch a fingerprint activated payment card pilot with the Bank of Cyprus.
IRONSCALES closes $6.5m Series A round led by K1
Email phishing prevention platform IRONSCALES has closed a $6.5m Series A funding round led by K1 Investment Management.
IrisGuard closes deal from Goldman Sachs
UK-based payment solution IrisGuard has closed an undisclosed investment from Goldman Sachs’ Merchant Banking Division.
Enveil closes $4m round with strategic investment from Reuters
US-based data security solution Enveil has closed a $4m strategic funding round, with strategic investments coming from Thomson Reuters and a USAA affiliate.
SecurityScorecard nets $27.5m in Series C led by Nokia Growth Partners
Risk and compliance solution SecurityScorecard has netted $27.5m in its Series C funding round led by Nokia Growth Partners.


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Six tenants have signed leases to open at Ichiban Square, a roughly 21,450-square-foot retail center under development at the corner of Essen Lane and Perkins Road.
New to Baton Rouge is MoMo Tea, an Asian-inspired tea and dessert shop specializing in fruit teas, Hong Kong bubble waffles, Taiwanese shaved ice and cheese tea, a tea milkshake popular in Asia and New York.
“It’s a craze right now,” says Carmen Austin, an associate broker for Saurage Rotenberg Commercial Realty and the shopping center’s leasing agent. “Extremely Instagram-worthy desserts.”
Tenants also include a few chains Baton Rougeans are probably familiar with: Salad Station and Jambalaya Shoppe. Austin says a fast-casual restaurant chain with 180 locations is also joining the center. She declines to name the chain but says the Ichiban Square location will have outdoor seating and alcohol service.
Good Eats Kitchen, a Lafayette-based kitchen with prepared meals-to-go, will occupy a 1,500-square-foot space in between Smoothie King and Hot Works Yoga. An optometrist will also move in within the next couple months.
Construction on the center is ongoing, Austin says, adding it’s 87% pre-leased and has just two remaining vacancies. She expects Agave Blue Tequila and Taco Bar and Hot Works Yoga, which were both announced last October, to open “any day now.”
The three-building retail center—which is being developed by Chris Shaheen, who is also behind The Oasis of Baton Rouge—is adjacent to Ichiban Restaurant.


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Crypto News: In recent times, the United States has witnessed an alarming surge in crypto-related phishing scams and pig butchering schemes. Among these concerning developments, the US Attorney’s Office has filed a civil forfeiture action to reclaim cryptocurrency from Binance, believed to be the proceeds of a business email compromise (BEC) fraud scheme targeting a Massachusetts business. This legal action enables third parties to assert claims to the property, necessitating resolution before the assets can be forfeited to the United States and returned to the victims.
US Seeks To Recover Crypto Assets
The government’s pursuit involves the forfeiture of cryptocurrency seized from seven accounts held at Binance, a prominent crypto exchange and custodian. The accounts contained various digital assets, including Bitcoin (BTC), Tether (USDT), APE (ApeCoin), JASMY (an ERC-20 token), OGN (Origin Protocol), SHIB (Shiba Inu), XEC (eCash), TLM, and BNB (Binance coin).
Read More: Reports Reveal Ripple Purchased Bitstamp Shares In Q1 2023; But Why?
According to the official statement released, the investigation into this particular BEC scheme commenced in March 2022, when a Massachusetts business fell victim to a fraudulent email. The scammers successfully tricked the company into wiring a substantial sum of $898,342 from their local bank account to an account opened in California.
Stolen Funds Trail End At Binance
The illicitly obtained funds were subsequently traced to another bank account and then converted into Bitcoin on a cryptocurrency exchange. To further obscure the money trail, the funds were transferred through multiple intermediary wallet addresses, following a pattern commonly associated with money laundering transactions. Ultimately, a portion of the funds was traced to accounts located at the Binance exchange, where they were seized in August and September 2022.
Under federal law, it is considered a violation to employ wire communications as part of a scheme to defraud or obtain money or property through false or fraudulent means. The complaint lodged by the US Attorney’s Office asserts that the seized currency represents both the proceeds of the wire fraud and property involved in money laundering.
In the wake of such crypto news, crypto phishing scams and BEC fraud have become increasingly prevalent in the United States, causing significant financial losses for individuals and businesses alike. Civil forfeiture actions, like the one taken by the US Attorney’s Office, aim to disrupt criminal networks and provide restitution to the victims.
Also Read: Coinbase Files Mandamus Petition Against SEC For Regulatory Clarity
Read the full article here


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Google has explained why it gave Acer an ultimatum over a new handset running a modded version of Android.
The company says the phone will be made available in China, hitting store shelves there Friday.
The Chinese search giant says Google is "just speculating" about its Aliyun operating system, and insists it's different than Android.
The company is reportedly seeing strong demand for its Aliyun operating system and is now firmly squared up with Android.
The China-based company says Google threatened to pull its Android support from Acer if Acer pursued Alibaba's Aliyun operating system.
The mobile operating system is called Aliyun OS and will be running on the K-Touch Cloud-Smart Phone W700 by the end of this month.


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Nissan settles with the FTC over the recently launched Frontier commercial.
Read This Article
Nissan announces prices for the 2014 Versa Note hatchback.
Nissan has announced prices for Frontier pickup truck, Pathfinder midsize SUV, and Xterra compact SUV for the 2012 model year, largely freezing prices at 2011 levels for its trio of smaller trucks and SUVs.
The 2013 Nissan Altima midsize sedan has been advertised as really fuel efficient from the get-go, boasting a fuel economy rating of 38 mpg on the highway.


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Welcome to WebmasterWorld Guest from 18.104.22.168
Forum Moderators: incrediBILL
On Monday, RockMelt, a company founded and financed by a group of Netscape alumni, will release a new Web browser, 16 years after Netscape introduced the first commercial Internet browser, and 12 years after the company was sold to AOL after its defeat by Microsoft in the so-called browser wars.
“We think it is a fantastic time to build a company around a browser,” said Marc Andreessen, who co-founded Netscape, and whose venture capital firm, Andreessen Horowitz, is the principal financial backer of RockMelt.
Although most people spend more time using their Web browser than any other program on their computers, most browsers have not kept up with the evolution of the Web into a social media hub, Mr. Andreessen said. He and Mr. Campbell, a former Netscape board member who is advising the new company as well as investing in it, say RockMelt is a browser for the Facebook era.


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Last month, the US Federal Trade Commission (FTC) sent a notification to six manufacturers about warnings that promise to void an electronic product's warranty if it is opened. The agency considered the practice illegal, but, at the time, did not reveal which companies were communicated.
The information was only released this Tuesday (1st) by Motherboard: The notice is intended for Sony, Microsoft, Nintendo, Hyundai, HTC and Asus. They received the alert after telling consumers that the warranty expires with the use of unauthorized parts or accessories.
Nas letters to the companies, the FTC highlighted the infractions of each. Sony, for example, says the PS4's warranty is void if the sticker is "altered, damaged or removed". A similar disclaimer is also made by HTC and Asus.
Microsoft says it is “not responsible and its warranty is not valid if your Xbox One or accessory is repaired by another company”. Nintendo claims that the warranty on its devices is void if they are used with "products not sold or licensed" by it.
Hyundai warns that "the use of genuine parts is necessary to keep the product intact. manufacturer's warranty”. These excerpts violate product warranty laws, establishing rules to prevent manufacturers from making repairs conditional on the use of certain parts or services.
The FTC's letter still doesn't cause legal problems for the companies, but it does a period of 30 days for them to adapt to the rules. According to The Verge, only the Hyundai has already made adjustments to its terms. The company explains on its website “why it is important to insist on genuine parts”. However, it states that owners “may choose to use non-genuine parts.”
As the FTC letter was sent on April 9, manufacturers have one more week to make changes. After this period, the agency intends to review the warranty policies to decide whether to take any more incisive action.


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Pak mulling buying tomatoes from Iran as price skyrockets
As per the Pakistan Bureau of Statistics, the average maximum national price of tomatoes was Rs 180 per kg, while it was selling as high as Rs 300 per kg in several parts of the country, the Dawn newspaper reported.
The Pakistan government on Wednesday said it is considering buying tomatoes from Iran after its supply was partially hit by the lack of import from India and the prices of the fruit skyrocketed between Rs 180 per kg to Rs 300 per kg in several parts of the country, according to media reports.
“We will consider allowing import of tomatoes from Iran,” Muhammad Hashim Popalzai, Secretary of the Ministry of National Food Security was quoted as saying in the report.
“We will think over it and make a decision in the meeting,” Popalzai said, adding that he is meeting importers, the report said.
Various factors have led to reduction in the supply of tomatoes, including ill-timed government policies and heavy rains which affected its production.
The suspension of trade with India over the Kashmir issue has also contributed to rising prices of vegetables in the domestic market. The supply gap has also been partially supported by the lack of imports from Wagah border from India, the report said.
Pakistan downgraded diplomatic ties and suspended trade with India after New Delhi revoked special status given to Jammu and Kashmir.
It is estimated that the imports from Iran will help compensate till the time new crop of tomatoes and onions will reach the market in the next few weeks from Sindh, the report said.
Meanwhile, the officials in the Pakistan government seemed to be totally oblivious to the rise in prices of tomatoes.
In a show of ignorance, Prime Minister Imran Khan's Finance Adviser Abdul Hafeez Sheikh told a group of reporters that tomatoes were being sold as low as Rs 17 per kg in Karachi's vegetable markets, Geo TV reported.
"In Karachi, in the sabzi mandi (produce market), tomatoes are being sold for Rs 17 per kg," he was quoted as saying by the report.
When some of the reporters present at the scene told him that tomatoes were, in fact, being sold at Rs 240 per kg, he refuted their comment, saying people were lying.
A journalist said: "Which sabzi mandi, sir?" To which, Sheikh responded: "You go and check it out yourself!"


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Scotch Whisky exports grew 4.4% to a record £4.91 billion in 2019, with 1.3 billion bottles exported to 180 markets, according to the latest figures compiled from HMRC export data.
However, the Scotch Whisky Association (SWA) warned the recent 25% tariff on the import of Single Malt Scotch Whisky and Scotch Whisky liqueurs into the United States contributed to a 25% fall in exports to the US in the fourth quarter of 2019.
Overall, export growth in 2019 was driven in particular in Asia and Africa, with value increases of 9.8% and 11.3% respectively.
“However, a 25% tariff on the import of Single Malt Scotch Whisky and Scotch Whisky liqueurs into the United States means the outlook for the industry remains uncertain, particularly given that this tariff could rise,” warned the SWA.
“The SWA warned in August that exports in 2019 had been affected by changing trade conditions in key export markets, and did not reflect ‘steady-state’ trade for the Scotch Whisky sector.
“This continues to be the case, with significant pre-shipping ahead of Brexit ‘no-deal’ deadlines in March and October 2019, and ahead of the imposition of a tariff on exports to the US on 18th October.”
While the US remained the Scotch Whisky industry’s most valuable market, increasing in value by 2.8% to £1.07 billion, export volume fell 7% to 127 million 70cl bottles.
Scotch Whisky Association chief executive Karen Betts said in a statement: “These figures underscore the global reach of Scotch Whisky.
“They show that Scotch Whisky remains at the heart of a dynamic, competitive, international spirits market and continues to attract consumers tapping into the global trend for premium spirits.
“The growth of developing markets in Africa and Asia shows that Scotch Whisky continues to bring new consumers to our globally renowned brands.
“However, the imposition of a 25% tariff on exports of Single Malt Scotch Whisky and Scotch Whisky Liqueurs to the United States is very concerning, and the 25% fall in exports to the US in the fourth quarter of 2019, immediately following the implementation of tariffs, is stark.
“The tariffs are hitting producers hard, particularly small distillers.
“Some are now asking themselves how they can continue exporting to the US, whether they can build up alternative markets, which is not something that can be done quickly, and if not how their businesses will cope.
“We are continuing to press the UK government to put in place a package of support for distillers to help mitigate the impact of tariffs, including a cut in excise duty in next month’s budget which would allow distillers to re-invest in the UK market while sales are under pressure in the US.”


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Save $30.01: The latest Google Nest programmable smart thermostat is at its best price ever for $99.98 at Walmart as of April 8.
We all want to stay cool this summer, but it’s still important to stay on top of your energy use. A personal air conditioner might be all you need to beat the heat, or you can invest in a smart thermostat to really get your energy bill under control. And if you want an affordable option, few are better than the latest Google Nest Thermostat.
Released in October of 2020, the new Google Nest Thermostat is now only $99.98 at Walmart. Listed for $129.99 up until now, the Nest Thermostat is 23% cheaper since its debut. While you save money now, you’ll also save plenty more after it upgrades your home’s heating and cooling system. Read more…
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Aland. The Åland shipping company Birka Line, which made big losses in the previous year, sold in February the cruise ship Birka Princess to traffic outside the Baltic Sea. As a result, 250 employees were laid off.
After a long battle against the EU ban on the sale of snuff on Åland-registered vessels, Finland and Aland lost in the European Court of Justice in May. Finland had not implemented the snuff ban on the Aland. However, according to the EU Commission, the snuff ban must apply throughout Finland. As a result, Åland shipping companies fear losing passengers to Swedish-registered vessels that are authorized to sell snuff. Later in the year, the Åland Lagting passed a new tobacco law, which allowed Åland vessels to sell snuff when they are in Swedish waters.
During the year, Aland ended up in a fierce and prolonged conflict with Finland over the Åland Cash Machine Association’s (PAF) gaming business on the Internet. According to the Helsinki government, it is illegal for PAF to market itself in the “kingdom”, that is, the real Finland, which has a gaming monopoly. Negotiations in the case broke down and PAF was notified by the Ministry of the Interior. In October, President Tarja Halonen commissioned the Åland governor to mediate the conflict.


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Licensing Week, a virtual event spanning keynotes, matchmaking and a digital exhibition, dated for June
Online-only event from Global Licensing Group and Licensing International will take place from June 15th to 19th.
Despite having a bad first experience with the inventor community, Kids Brand Insight’s Steve Reece explores why inventors remain a vital part of the toy and game industry.
From Othello to Nerf Ping Pong, Fireball Island to Timber Tots, Patti and Jonathan Becker on the million-dollar question: How do you know a great product when you see one?
We caught up with Patti to learn more about the origins of Anjar and Becker Associates, get the low-down on some of their recent success stories and find out exactly when they know they’ve discovered something special.


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Hall of Famer to talk racing as we celebrate 25thanniversary of his 1993 Australian Touring Car Championship …
STORY: V8 SLEUTH
IMAGES: AN1 IMAGES (GRAEME NEANDER/COVENTRY)
HALL of Famer Glenn Seton has been announced as the special guest at the second annual V8 Sleuth Bathurst Open Night held during race week at this year’s Supercheap Auto Bathurst 1000.
After successful open nights in Melbourne, Bathurst and Perth over the last 12 months, this V8 Sleuth Open Night will celebrate the 25thanniversary of Seton’s first Australian Touring Car Championship in 1993.
This year also marks 35 years since Glenn’s first start in the Bathurst October classic.
As a special treat for V8 Sleuth fans, the night will be held at a new venue, moving to the National Motor Racing Museum to celebrate its recently established relationship with V8 Sleuth.
Admission to the museum on that night is included in the event ticket.
The Bathurst V8 Sleuth Open Night will be held on Thursday October 4, kicking off from 6.30pm.
While the venue has changed, the popular event format has not.
V8 Sleuth’s Aaron Noonan will be on stage, joined by Bathurst legend Seton, to talk about Glenn’s career, celebrate the 1993 Australian Touring Car Championship win, and take questions from fans.
The event will start at the slightly earlier time of 6:30pm on Thursday night to give fans even more time to enjoy the popular event.
In addition, attendees will have the first chance to purchase a special limited edition numbered and signed poster celebrating the Seton ’93 title victory, the first win in the V8 formula era.
Like previous events, a variety of V8 Sleuth merchandise will be available for purchase in addition to the limited editionposter.
A night of great stories, fun, food and prizes is in store, so get in early to reserve your ticket to this event, as past experience indicates that tickets will sell quickly.
Date: Thursday 4 October
Venue: National Motor Racing Museum, Bathurst
Tickets: $45 each (purchase here)


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This text is a result of machine translation.
The spot quotation of RMB against the US dollar rose by more than 100 points in the afternoon.
Kwai 616 Shopping Festival ended, and the epidemic policy helped more than 110000 businesses to resume work and production
The problem of "blocking points" was gradually loosened, and the car related market began to increase in volume. The sales of related products of the company increased significantly
Minova: the fire accident in the new solvent recovery workshop of the subsidiary did not cause any loss to the existing production equipment
The national flood control and drought relief headquarters decided to start flood control level IV emergency response at 17:00 on May 27
Kwai and Tencent signed a 2022 game cooperation framework agreement
Suhua: Kwai has launched a number of measures to help users, businesses and advertisers jointly cope with the epidemic
Netease's revenue in the first quarter was 23.56 billion yuan, with an estimated 22.64 billion yuan.
HeyTea Bets on Coffee, Again
Coffee is a darling among Chinese youth.
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Naixue dream factory, the world's largest flagship store of Naixue tea, will be upgraded to "Naixue life"
Rui Rui Intelligence: it plans to add 70 million yuan to its subsidiary to implement the construction project of Anhui Rui Rui production base
Nanjing mortgage interest rate cut again, and some banks fell back to the prefix of "4"
Can Nayuki Hold Its Ground in the Evermore Competitive On-demand Tea Drinks Industry
Nayuki is one of the largest firms in China’s sprawling on-demand tea drinks industry. Financial indicators such as revenue and operating margins have proved its success in the past. But the ultimate question is, how long can it last?
Jun 07, 2022 11:02 AM
Xu Jiahui rose the limit again and walked out of the 9-day 8 board
Hong Kong Catering stocks continued to rise in late trading
Huawei Hu houkun: limited smartphone business makes Huawei think about the development of terminal business
Kwai: the relevant Winter Olympic content is over 154 billion 480 million.
Charging Infrastructure on Government Support: A Brighter Future?
Mar 16, 2023 06:03 PM
Robot Policies in Asia
Mar 10, 2023 10:51 AM
Overview of ten Industrial Robot Company in China
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How Chinese SaaS Firms Survive Globalization
Mar 06, 2023 04:21 PM


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A coalition of U.S. food and agricultural organizations led by the National Pork Producers Council is praising the Obama administration for launching negotiations with the European Union (EU) on a transatlantic free trade agreement (FTA)—and for its insistence that the agreement be comprehensive and ambitious.
In a letter signed by 64 organizations sent Monday to the Office of the U.S. Trade Representative, the coalition said any FTA with the EU “must fit the excellent model established with the Trans-Pacific Partnership”, meaning all significant trade barriers should be covered in a single comprehensive agreement.
The coalition expressed concern with a trade working group report that suggested an initial U.S.-EU FTA be designed to “evolve over time,” eliminating most barriers to trade and investment but setting up a mechanism to address other barriers.
Recent statements from EU officials, for example, have raised doubts about the EU’s commitment to dealing with sanitary and phytosanitary (SPS) issues as part of the negotiations.
SPS issues must be addressed as part of the negotiations, the coalition wrote, not simply left to some future consultative mechanism. It also stressed that SPS provisions must be enforceable.


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The President of the Nigerian-American Chamber of Commerce (NACC), Chief Olabintan Famutimi, has urged the federal government to expedite measures on implementing the extended African Growth and Opportunity Act (AGOA) programme in Nigeria.
According to him, the implementation of the programme can generate over one million direct jobs.
Speaking at a business roundtable dinner in Lagos, the NACC president said more than ever before, Nigeria is desperate for economic diversification, noting “we have arrived at the point of no return in our quest for those critical tools that would help develop trade and commerce outside oil, strengthen and grow our small medium enterprises, our manufacturing sectors, and add value to growth.”
According to him, implementing the AGOA programme will in a way address the challenges in the non-oil export sector in the country.
“It would also enable African countries to be engaged in the rules of origin to engender value-addition of raw materials as they could now include the cost of direct processing, as they share production from one country to another on their way to the United States market,” he said.
He explained that “when the Act was established, the Nigerian private sector in particular, believed in the golden opportunity being offered to us by this Act to genuinely shift paradigms; think outside oil, invest in and develop our second economy.”
He stated that nearly 15 years after the approval of AGOA, Nigeria’s export to the US under this Act totaled a miserly $2.6 million when South Africa did in excess of $1.2 billion. According to him, petroleum products continued to account for the largest portion of US AGOA imports with a 69 per cent share of overall AGOA imports in 2014.
“In the same year, US imports decreased mostly oil from Nigeria by 67 per cent. It is therefore in understanding the reason for this downward spiral as attributable to the decline in US import of merchandise associated with oil, that the need to break the jinx of our dependence on oil as our key foreign exchange earner should equally be understood,” he said.
Famutimi reiterated that AGOA can create more than one million direct jobs in Nigeria in a few years “if we get our act together. What AGOA can do for Nigeria in terms of job creation cannot be underscored. Since the passage of the Act, AGOA has generated about 350,000 direct jobs and 1,000,000 indirect jobs in Sub-Saharan Africa.”
He noted that after completing its initial 15-year period of validity, AGOA was on 29th of June 2015 extended by a further 10 years, to 2025 which means that the US has graciously given us another 10 years to pump up our exports under AGOA and improve regional trade as well.
“With the 10-year extension, we can indeed continue to take advantage of the duty-free status afforded African goods entering the American market under AGOA, and investors can plan for the future,” he said.
He, however, reassured stakeholders that NACC is determined not to let another 10 years of AGOA slip through its fingers.
“We have taken it as a key responsibility to ensure that we collaborate with public and private stakeholders in bringing the value of AGOA to our people. This sensitisation programme is only one of several steps in that direction. Through public-private partnerships, we must continue to find solutions to constraints to bilateral trade and commerce initiatives like AGOA,” the NACC boss stated.
He therefore called on President Muhammadu Buhari and the Minister of Industry, Trade and Investment to put in place measures to ensure the effective implementation of AGOA in the country.


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What do a McDonalds French fry supplier (J.R. Simplot Company), Starbucks Coffee, and Béquet Caramels have in common?
Two things it turns out. First, they’re part of the food processing industry: the country’s second largest manufacturing sector by employment, fourth largest manufacturing sector by establishments, and an industry group that accounts for more than 10 percent of all manufacturing shipments. Everyone has to eat!
Let’s take a closer look at this strong manufacturing sector. Considering where the jobs are, it appears to be an industry with a wide footprint. The International Trade Administration (ITA)  reports there were 28,000 food processing establishments in the U.S. in 2006, with 500 multinationals like Kraft, Tyson Foods, and General Mills making up 36 percent of total employment. However, 89 percent of food processors employ fewer than 100 employees (which is the typical industry demographic served by MEPs.) Where are all these good people who are making our food? The largest portion of the workforce is in California (11 percent), then Texas (7 percent), Illinois (6 percent), and Pennsylvania (5 percent); the remaining 70 percent are pretty evenly spread out across the U.S.
And it looks like the industry’s future is strong. According to a 2010 IMAP report,  58 percent of food produced is consumed by developing countries. This is expected to increase to 72 percent by 2050 as populations in China and India continue to grow in numbers and income. Regarding international consumer trends, the U.S. Department of Agriculture Economic Research Service writes “…changes in food consumption patterns are largely driven by income growth and demographic factors … urbanization, away-from-home employment of women, and increased levels of information.”
Another thing happening in the industry is that prepared foods in the U.S. are also on the rise and driving innovation. A recent Wall Street Journal story The Art of Almost Homemade  highlighted this trend. (Side note: Wednesdays are apparently the worst day for cooking at home and when partially prepared foods are most helpful.) This has led to a number of innovations by larger food companies. Some examples include putting parchment paper in a kit for cooking fish, or producing a two-step sauce so people feel they are more involved in the cooking process and closer to enjoying homemade meals.
So what’s the second thing J.R. Simplot Company, Starbucks Coffee and Béquet Caramels all have in common? They’ve been clients of the MEP system, served by the centers in Idaho, Washington, Nevada and Montana primarily in areas of operational efficiencies to support rapid and continuous sales growth. At least three MEP centers have specialized food practices, including Idaho TechHelp, Ohio’s Center for Innovative Food Technologies and Nebraska’s Lincoln Food Processing Center. These capabilities have been used across the MEP system through a local center. If you’re in the business of processing food to feed our world, be sure to reach out to your local MEP and see how they can assist you. If you’re partial to caramels, allow me to suggest Béquets!
 U.S. Department of Commerce Industry Report Food Manufacturing NAICs 2011
 IMAP Food and Beverage Industry Global Report – 2010
 USDA ERS International Consumer & Retail Trends webpage http://www.ers.usda.gov/topics/international-markets-trade/global-food-markets/international-consumer-retail-trends.aspx Aug. 8, 2013
 The Art of Almost Homemade by Sarah Nassauer, Wall Street Journal web edition Aug. 6, 2013


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By: Express News Service | Surat |
August 12, 2021 6:23:08 am
The auction centre has come up at a cost of Rs. 4 crore, which was borne by GJEPC.
Gems and Jewellery Export Promotion Council (GJEPC) has developed India’s first diamond auction-cum-exhibition centre in Surat.
The centre, developed on a 2,200 square feet area at Vesu, will be inaugurated by GJEPC chairman Colin Shah on August 16. The auction centre has come up at a cost of Rs. 4 crore, which was borne by GJEPC.
With the auction centre having all the facilities of safe vaults, locker systems, conference halls, exhibition area with advance security systems, the diamond mining companies can come to Surat for carrying out auction process of diamonds.
GJEPC Chairman of Gujarat, Dinesh Navadiya said, “Many international diamond mining companies were facing problems to carry out auctions of diamonds in the city, as they were not getting proper facilities, including safety measures. Even the diamond merchants from foreign who come to Surat, for the sale and purchase of diamonds has to book rooms in the private hotels in the city. The security issues of such valuable goods was also a major concern for them. At the auction centre, they will get safe deposit vault facilities and also locker facilities.”
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
© The Indian Express (P) Ltd


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The U.S. dollar has been on the rise recently, strengthening against almost all other global currencies. That poses a notable challenge for U.S.-based multinational companies that sell products and services abroad, since revenue that is generated in a foreign currency translates into less and less when converted back to U.S. dollars.
This has been an ongoing theme for many companies, not just Apple (AAPL 1.98%). But seeing as how international sales now comprise 64% of revenue, the U.S. dollar's continued strength is starting to hurt -- a lot.
Billions in lost revenue
When Apple reported earnings earlier this week, the company provided a few data points as insight into just how tough the FX environment is. For starters, here's what CFO Luca Maestri had to say about it:
So obviously FX has been a significant hit in many ways, of course. I mean it reduces our growth rate. We would be 800 basis points higher this quarter from the 33% that we've reported if it wasn't for the movement in currencies around the world. And really when you look around the world, it's really if you exclude China, essentially every single currency has weakened against the dollar.
Apple's revenue growth rate would have been 800 basis points higher, which is a lot when we're talking about a revenue base as large as Apple's. In other words, Apple would have reported total revenue of $52.8 billion if it weren't for the pesky U.S. dollar, or about $3.2 billion higher than the $49.6 billion that it did report.
It's worth pointing out that, like other multinationals, Apple hedges its currency risk with currency forward contracts and other derivatives, but those hedges can only provide a limited amount of protection and inevitably entails a lot of uncertainty about what the FX market will do. Also, the cost to hedge in certain markets is prohibitively expensive, so there are some regions where Apple has no currency protection.
So the hit that Apple took is beyond what is offset by the hedges that it has in place.
No easy answer
It's quite a dilemma. Apple can either suffer the losses or it can increase the price of its products in the local currency to help offset the exchange rate fluctuation. Apple is already priced at the premium end of all markets where it participates, so increasing prices further naturally hurts sales as well. As best as it can, the company tries to avoid changing prices in the middle of a product cycle, but sometimes you just have to bite the bullet and increase prices. Apple has had to reprice in a handful of markets this year since some currency movements have been so dramatic, like what it had to do twice last year when the Russian ruble was tanking.
The good news is that Apple said it increased sales and market share in all geographical markets around the world "without exception," despite some necessary repricing. There's that unparalleled pricing power coming in handy yet again.


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Lidl’s takeover of the Waitrose store in Teignmouth has taken another step forward after planning applications for signage have been submitted.
The German-owned store chain earlier in the year confirmed it has exchanged contracts on the building in Lower Brook Street.
The sale of the Teignmouth store has been completed and the official address of the premises has been updated so that the first line says ‘Lidl’.
Two planning applications to display adverts have now been submitted to Teignbridge District Council – one for two free-standing signs and one for five fascia signs.
Details with the application state that the scheme will be similar to that used by Waitrose and the free-standing signs will be installed in approximately the same locations as they currently are. Of the fascia signs, four will be installed in the same locations as the previous Waitrose signs, with the fifth where a previous Co-op sign was.
A statement adds: “Signs have previously been situated in all the proposed location over the previous occupations of Waitrose and Co-op. The proposed signage will not be detrimental to the interests of the character of the Conservation Area and merely seeks to establish the corporate identity of the Lidl store.”
No details as to when the store is set to open are provided within the application, which Teignbridge District Council will determine at a later date.
Lidl in August submitted a planning application to convert the former Waitrose in St Marychurch Road, Torquay.
It would be the chain’s second branch in Torquay as it already has an outlet in Newton Road, near Torbay Hospital.
Lidl plans to adapt the existing building with its own look and will strip out and replace the internal fittings ahead of reopening.
The application includes removing a canopy from the front and side and better pedestrian access from the car park.
In a statement, the retailer confirmed it would keep its other Torquay branch open.
The Waitrose branches at Torquay and Teignmouth closed in June with the loss of more than 200 jobs.


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Walking down the streets of Khao San Road, Patong Beach, Pattaya walking street, or any other central tourist destination in Thailand, it’s easy to see one product for sale everywhere: cannabis. But how did a country that strictly criminalized cannabis come to where it is now? The answer lies in the post-pandemic economy and political climate of Thailand.
On June 9th, 2022, the Thai government legalized the production of cannabis as well as the consumption of marijuana in food and drink. The government also took the drug off of the Class 5 list of controlled substances. Although cannabis was legalized for medicinal use in 2018, the new legislation allowed for the legal consumption of marijuana products with up to 0.2% THC content. In effect, this amount of THC is “20 to 40 times less than modern recreational cannabis designed to influence people’s state of mind would likely contain.” This means that the Thai government legally encourages the production of marijuana, not for recreational consumption but for agricultural hemp purposes. This is evidenced by the more than one million cannabis seedlings that were distributed to rural farmers in June of last year. Officially, the government only endorses marijuana consumption for medical purposes. Furthermore, Thailand prohibits smoking cannabis in public with a fine of up to 25,000 baht (about $700 USD) or three months of imprisonment. Nonetheless, cannabis has become a ubiquitous product throughout Thailand.
After all, the dispensary clients are coming in to smoke cannabis with more than 0.2% THC content. While the law officially restricts THC to 0.2%, the reality is that enforcement and regulation are extremely lax. Stores are taking their chances and making money selling pot while they can. Without active enforcement, these businesses may risk being shut down, but this risk is accepted for financial gain.
To understand why the government lobbied to legalize cannabis, this potential for profits must be understood in the context of the Thai economy. From April 2020 to July 2021, Thailand heavily restricted travel to the country due to the spread of COVID-19. Since a significant portion of the Thai economy relies heavily on tourism and the associated influx of cash, the lack of international visitors during this period severely hurt the economy. Although this effect was seen throughout the world, places such as Thailand which rely heavily on tourism experienced a particularly severe financial downturn. As a result, the government engaged in mobilizing agricultural production to stimulate the economy. As a new source of income, cannabis could present a new cutting-edge industry for the country to engage in. The Thai cannabis industry is projected to be worth $1.2 billion by 2025. For this reason, the government investigated the possibility of legalizing the cultivation of marijuana.
Once the legislation was in place, at least some of the general public viewed cannabis as a positive change to create a new market. A former co-owner of Island Exotics in Ko Samui, Thailand, who prefers to remain anonymous, is among those who support legalization. The co-owner, who opened his store in late 2022, has stated that business in the cannabis industry can be difficult because of the high competition. Nevertheless, he is hopeful for his business and does not foresee a high chance of reversal of the legislation.
“There’s always the worry the government reverses the law. But, I believe that it isn’t possible for the government to do so anymore as there are just way too many businesses now, so if they did reverse the law it would just cause trouble for everyone,” he said.
In fact, some tourists have started to call Bangkok the “Amsterdam of Asia” because the new market for cannabis has created an allure for “weed tourism.” While this could be attributed to certain negative consequences, the economic benefits of weed tourism cannot be understated. The Island Exotics co-owner claims that in Thai culture, cannabis is less frowned upon and stigmatized than in other cultures. He cites the fact that the word “bong,” a type of cannabis paraphernalia, originates from the Thai language proving that it has always been relatively present in Thai society.
A secondary, arguably more important, reason for legalization is political. Since 2020, the democracy movement spearheaded by the youth of Thailand has called for serious reforms of the country’s political institutions. Unprecedented protests spread throughout the plazas of Bangkok, with demonstrators using the ubiquitous three-finger salute to show solidarity with the movement. Although the government has restricted pro-democracy efforts, the negative sentiment towards the Thai political system and the monarchy remains. Under the incumbent coalition of the Thai parliament, the Bhumjaithai party (“Thai Pride Party”) had the most party members lobbying to legalize marijuana.
Darren Zook, a professor of Political Science and Global Studies with a focus on Southeast Asian politics at UC Berkeley, highlighted the importance of appealing to the youth for the incumbent government. Citing the democracy protests of 2020, Zook suggested that the government needed to gain political support in light of Thailand’s ongoing political strife and economic conditions. Furthermore, Zook argued that to optimize the state resources to fight drug-related crimes and the narcotics trade, the government should not be fighting the marijuana trade, but more so the methamphetamine and heroin trade—a significant source of damage to contemporary Thai society.
In fact, Thailand has seen a relative increase in gun violence, albeit incomparable to American levels of gun violence, which some have attributed to the methamphetamine trade. On October 6th, 2022 a former policeman killed 38 people, a majority of the victims being young children, in a gun and knife massacre in Northeastern Thailand. This was one of Thailand’s worst mass murders in recent history. Investigators discovered that the murderer faced a methamphetamine addiction. In light of this fact, national debates throughout Thailand have come to reevaluate the country’s issues with drugs. Although the massacre involved meth, the conversation about drugs and the recent increase in violence has given anti-cannabis groups a reason to oppose the recent legalization of marijuana, illustrating that a portion of the public’s view of marijuana has lumped it together with methamphetamines in the drug debate. The history of cannabis as a class five drug in Thailand certainly plays a role in forming public opinion. Many Thai citizens believe that the spread of cannabis has caused moral degradation and societal issues. Since legalization, cases involving “impaired consciousness” have quadrupled. Considering Thailand has one of the highest vehicle mortality rates in the world, at ninth place with over 20,000 deaths per year, arguments for increased vigilance, especially in motor vehicles, may carry weight.
On top of the social repercussions that have been attached to cannabis legalization, the opposition party, Pheu Thai, has raised some concerns with the current legislation surrounding cannabis. While the sale and consumption of cannabis have been legalized, Pheu Thai asks how efforts to regulate are being enacted. To lobby against recent legalization, the opposition party cites the lack of measures to prevent risk-averse groups, such as young teenagers and pregnant women, from using marijuana, a sentiment shared with many concerned citizens and medical professionals. Over 1,000 doctors signed a petition to urge the government to create more regulations and limitations on marijuana.
Reacting to these concerns, the government has restricted cannabis consumption to people older than 20 and people who are not pregnant or breastfeeding. Its response indicates that cannabis legalization has created an impetus for increased political discourse and change in Thailand. Although the government’s appeasement of the opposition might be in anticipation of the next voting cycle in May, the regulation shows a new willingness to cooperate with the public. Legalization could be the beginning of a new Thai government willing to act on the wishes of its citizens.
Considering the upcoming voting cycle, the effects of legalization on the general public opinion and businesses are important to make projections about the political future of the country. The Thai cannabis industry is still in flux, and the leaders of the industry are yet to be determined. Small businesses are starting to worry that big corporations may usurp a large portion of the industry. As small businesses are launched into the uncertainty of the new cannabis industry, many are using personal savings to fund their venture, making risky investments with uncertain futures. Wealthy corporations have more financial resources to invest relative to their smaller counterparts, posing a point of high contention. Nonetheless, as a result of the uncertain nature of the cannabis industry, even big businesses are still wary of any significant investment, although their fear has yet to coalesce.
The future of cannabis in Thailand is still highly uncertain. Although regulation has been put into place, enforcement has yet to constrict the industry. For the time being, businesses are making profits to benefit from the legal loopholes. In response to the backlash against the lack of enforcement of cannabis laws, the government engaged with the public and initiated a dialogue that led to a change in policy. As the next voting cycle comes closer, cannabis laws may be the beginning of a more collaborative democracy in Thailand.
Featured Image Source: Peerapon Boonyakiat


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VMware has continued its shopping spree by buying big data analytics tool Log Insight in order to expand its cloud and virtualisation portfolio in its battle against Amazon and Rackspace. The move follows...
Biggest-ever acquisition for BlackBerry reflects shift towards security software and services
Communication between the board and IT cannot be solely one way
And more than half route data via servers in China - despite Chinese government clampdown on VPNs
SAP is moving HANA exclusively to Linux - Sabine Soellheim explains why


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The value of cryptocurrencies could go beyond one trillion this year according to experts. Its expected bull run is due to the sell-off predominantly seen across various virtual coins. According to CEO of Outlier Ventures, Jamie Burke, the bull run could occur after the month of February. “We believe after February the market will likely go on a bull run comparative if not greater than last year potentially reaching the trillion-dollar mark before a proper crypto winter sets in where the market becomes more focused on proper market fundamentals.” Outlier Ventures is a venture capital firm that emphasizes blockchain investments.
Thomas Glucksmann, the head of Gatecoin’s APAC business development, explained to CNBC the reasons why the digital currency market would likely rebound to a new high. “Increasing regulatory recognition of cryptocurrency exchanges, the entrance of institutional capital and major technology developments will contribute to the market’s rebound and push cryptocurrency prices to all new highs this year.” He added, “There is no reason why we couldn’t see bitcoin pushing $50,000 by December.” The Lightning Network, a payment system that exists atop a blockchain, has the ability to increase the speed of slow transactions through the cryptocurrency. It is also the technological advancement Glucksmann may be referring to. He added, “One possible appetizer for the bulls, or the catalyst for the recovery, will be the release of another cryptocurrency backed instrument listed on a major exchange. There are several candidates in the pipeline, it’s only a matter of time until we have a cryptocurrency backed ETF (exchange-traded fund).”
Bitcoin saw a huge drop in its value when it was pegged below $6,000 in November last year. It is currently trading beyond $7,000 when the market stabilized. During the market’s lowest point, more than $500 billion of its value was essentially gone. Though some have declared that the fundamental value of cryptocurrencies is non-existent, a few commentators have declared that digital tokens can be utilized to create blockchain applications and therefore possess future value as the relatively young industry continues to develop.


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Through partnerships with the Audio Engineering Society (AES), Advanced Audio + Applications Exchange (A3E), and the Entertainment Services and Technology Association (ESTA), The NAMM Show 2018 will be offering a significantly enhanced professional audio and production technologies education program from Jan. 25-28. As well, the newly expanded Anaheim Convention Center will offer a much larger selection of pro audio brands on the exhibition floor.
The fourth annual IMSTA FESTA Toronto show was held at Ryerson University on Saturday. Presented by the International Music Software Trade Association (IMSTA) and the SAE Institute, the free event hosted 53 music and audio technology exhibitors, plus a lineup of presentations and panels throughout the day.
Final attendance is not yet available, but organizers say that pre-registration was up over past years. For the presentations, such as the keynote by Grammy-winning mix engineer Dave Pensado and music manager/executive Herb Trawick of Pensado’s Place, the theatre and overflow room were filled to capacity. From the stage, Trawick praised the ethnic and gender diversity of those in the theatre and said it was be most beautiful audience he has had ever seen.
TASCAM, a division of TEAC of America, has promoted former Director of Business Development Joe Stopka to Vice President of Sales and Business Development. In his new position, Stopka leads TASCAM’s sales, marketing, and product marketing teams for all of the Americas.
A long-time industry veteran, Stopka launched his career as a studio guitarist, composer, and producer. He then transitioned to sales and marketing, working with MI and pro audio technologies at a leading U.S. AV integration and pro audio rep firm and distributor before joining TASCAM in 2016. As VP of sales and business development, Stopka is charged with building a stronger position in the pro audio and AV integration markets and further strengthening the company’s brand recognition in the MI marketplace.
Badge registration is currently open for the 2018 edition of The NAMM Show, running Jan. 25-28, 2018 in Anaheim, CA. This edition is sure to be NAMM’s biggest yet as the show looks to significantly increase the pro audio, lighting, and staging industry presence thanks to a newly-expanded convention centre, partnerships with AES, ESTA, and The Parnelli Awards, and more.
The main event is this Saturday, March 4th, with A Night Out For Music Heals. Over 80 bars, clubs and pubs in 30 cities across Canada are donating $1 per cover charge (or making a flat donation of $1 per patron, for those that don’t charge cover) to Music Heals for one night. You can support music therapy programs in your province simply by going out on Saturday March 4th. Check the full list of participating establishments at www.musicheals.ca/nightout.
The National Post has this great article about Walter Ostanek, who recently won the Dream Lottery’s $1 million grand prize. Walter is widely known as the “Polka King” and was also the founder of Ostanek’s Music in St. Catharines, ON, which is now a Long & McQuade location.
He’s already the Polka King. Now, St. Catharines musician Walter Ostanek can add millionaire to his credentials.
The three-time Grammy winner thought a friend was joking when he told him Tuesday morning he had won $1 million in the London Dream Lottery to benefit London, Ont., hospitals. He remembered entering — he enters everything, he says with a laugh — but his friend had pranked him good before.


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Nestle trading hit by Maggi noodles food scare
The impact of the Maggi noodles safety scare in India has continued to weigh on food producer Nestle.
Lost sales and a "significant impact" on growth in south east Asia have contributed to the company cutting its near-term trading outlook.
Sales tumbled after laboratory tests in India revealed high lead levels in some packets of the hugely popular noodles.
In its trading statement, Nestle said it remained in talks with authorities to get Maggi back on the shelves.
Nestle, the world's largest packaged food company, said group sales for the nine months to the end of September fell 2.1% to 64.9bn Swiss francs ($68bn; £44bn), missing analysts' forecasts.
The company cut its 2015 growth outlook to around 4.5%, below its long-term forecasts for 5%-6% growth.
Chief executive Paul Bulcke said: "After a good performance in the first half of the year, we were impacted in the third quarter by exceptional events, with Maggi noodles in India and a rebate adjustment in Nestle Skin Health."
He added that growth in China continued to be lower than expected.


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There are people who make their own drones and they do quite an impressive job. But have you ever considered making a drone from pineapple leaves? Researchers in Malaysia did, and they did it in an attempt to reduce agricultural waste. These drones are not only eco-friendly, but they’re cheap, light, and they even look pretty nice, too.
Professor Mohamed Thariq Hameed Sultan of Malaysia’s Putra University has been leading the research. He and his team discovered that pineapple leaves contain light, but strong fiber. These leaves are usually discarded after the harvest, but the team discovered that they could be used to create drone frames.
The professor told Reuters that these drones have a higher strength-to-weight ratio than those made entirely from synthetic fibers. Obviously, they also have more disposable parts, and they’re cheaper and lighter than commercial drones. When we take all this into consideration, it’s obvious that these “bio-drones” have some clear advantages over those made from synthetic materials. First, their production reduces biological waste. And second, if a drone crashes and can’t be found, most of it will decompose, so the drone itself is less harmful to the environment.
For now, only prototype drones have been made. They were able to fly about 1,000 m (3,280 ft) high and stay in the air for about 20 minutes. The team hopes that they’ll manage to create a larger drone that will be able to carry bigger payloads and image sensors. They likely won’t be used for shooting stunning landscape photos, but rather for agricultural purposes and aerial inspections. But hey, who knows? Perhaps in the future, we’ll have more gadgets that are environmentally friendly. I sure think it’s high time we considered it.
[via Digital Trends]


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Ever wondered what the real figures were behind data breaches? Well, below we’ve pulled together some vital research to show the intricacies of a data breach…..
- In 2010, 96% of breaches were deemed avoidable through adopting simple controls within organisations
- The majority of data breaches happens in businesses with 11 – 100 employees
- 91% of breaches occurred in 2010 because of external threats
- In 2010, the hospitality sector accounted the most amount of data breaches (40%) whereas the transportation sector had the least (less than 1%)
- According to Verizon’s 2011 Data Breach Investigations Report, 50% of data breaches occurred from some form of hacking
- A data breach is said to cost companies on average $2 million per incident
- Sony’s latest data breach in April this year (2011) is said to be in the ‘top 5 ever‘
- There has been a 27% jump in the number of incidents of stolen or lost personal information reported to the Privacy Commissioner this year (2011), compared to the previous year (2010).
- The majority of companies who suffer a data breach are not made public so we have no idea of how big the real picture is. Nigel Waters who was Deputy Federal Privacy Commissioner and Assistant UK Data Protection Registrar said that the number of unreported breaches was easily in the “thousands”.
- Currently there is no law in the UK that obliges companies to tell their customers if their details have been stolen. There are however these laws in the US, Japan, Germany, Spain, Norway and Austria .
- In the UK, the Information Commissioner’s Office (ICO) has the power to fine companies up to £500,000 for concurring a data breach, but in the Netherlands, the Data Protection Authority will be able to fine Dutch companies up to several million Euros.
Data breaches are happening all around the world. Some we hear about and others we don’t. But the bottom line is that they are against the law and if your business is subjected to a breach then you will be penalised. That is why taking action now is more important than ever. Costly fines will be one of your least worries; you will also be subjected to significant brand damage and relationships with customers will be ruined.
Act now before it is too late!
Taking simple actions can be some of the most effective. As quoted above, the Venizon 2011 Data Breach Investigation Report found that 96% of breaches were deemed avoidable through adopting simple controls. Implementing firewalls on every computer, making sure all your employees are using strong passwords and keeping your staff aware of the dangers surrounding information security are just some of the small things you can do to help protect your business from suffering a data breach.
Thanks to the following sources:


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What it is: A monthly forecast of the average new-vehicle price paid by U.S. consumers across 12 auto manufacturers. TrueCar also forecasts a monthly average across the industry. Current-month data is presented alongside a comparison with the previous and year-ago months to show the percentage increase or decrease in average prices paid.
Where it comes from: TrueCar uses data from its network of 10,000 dealers in the U.S. to calculate average transaction prices, or ATP. TrueCar also says its insights come from an analysis of industry sales trends and conditions.
How it’s used: ATP data is used to show the threshold that consumers are willing to pay for a new vehicle during a given period of time, which could reflect external macroeconomic factors impacting the industry, including interest rates, inflation, income and unemployment levels. The microchip shortage coupled with the sharp increase in demand following the pandemic created an imbalance in supply and demand, for example, which caused ATP to spike because consumers were willing to pay more than MSRP to acquire vehicles when inventories were constrained.
How it might be misused: The data could be used to convince consumers to feel more comfortable paying above sticker. Additionally, there are more than 16,572 franchised new-car dealers in the U.S., according to the National Automobile Dealers Association. If TrueCar is only analyzing data from its 10,000 dealers, it’s missing 40 percent of the market.
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Radikal wins Lectrosonics award
TURKEY: Istanbul-based distributor, Radikal Elektronik, has won the 2015 EMEA Market Development award from Lectrosonics. The award was presented at the recent IBC show in Amsterdam.
Sarp Yelkencioglu of Radikal Elektronik, who has been a Lectrosonics dealer for more than five years, received the Best Dealer award in recognition of his outstanding efforts and success in establishing Lectrosonics as a leading brand in the Turkish market, despite the financial and political challenges in this region. Mr Yelkencioglu’s efforts this year have resulted in success which has surpassed many more financially advantaged regions, and he was also named Best Dealer in 2014.
‘The EMEA Dealer awards are our way of recognising our colleagues at Radikal Electronics for their tenacity and extreme dedication as ambassadors of our brand,’ said Lectrosonics’ EMEA sales and technical support director Jim Bakker. ‘Lectrosonics is very fortunate to have close relationships with all of our EMEA dealers and we want them to know that having such outstanding partners is a crucial part of our success.’


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In a new SAP campaign called "Live Business," motorcycle shoppers get to customize bikes in a shop before buying them and an athletic gear company tries to keep up with a customer's quickly changing interests, including aerial karate.
The idea is to show that "businesses have to be 'live' in this digital economy," said Maggie Chan Jones, CMO at database software company SAP. "'Live Business' is about businesses having insight to act in the moment, whether making a critical business decision or supporting customer needs."
The campaign, which also includes print and online ads, was created by lead agency BBDO New York, and other Omnicom agencies including Critical Mass for the landing page, Rapp for direct and PHD for media. The budget was undisclosed. "Live Business" is an extension of SAP's "Run Simple" campaign, also created by BBDO, which launched last year.
In one TV spot, called "Motorcycle," seen here, business executives of a motorcycle company are in a conference room with data projected on large digital screens, brainstorming about how to grow the business.They throw out ideas such as pumping up promotions and adding more salespeople, or letting customers customize their bikes before buying them, all while watching projections and outcomes (like riders crashing through the store windows) on the digital screens.
In another spot, called "Karate," an athletic gear company is gathering real-time data about a customer's interests and hobbies, which rapidly change from basketball to disc sports to tai chi. One exec asks, "What's she going to like six months from now?" and the data projects aerial karate. They realize they only have one person working on aerial karate.
Read more about the campaign over at AdAge.com.


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Check out which companies are making headlines before the bell on Thursday:
Rite Aid - The drugstore chain posted earnings of 9 cents a share, in line with expectations, while revenue fell short of forecasts at $6.3 billion, versus estimates for $6.27 billion. In addition, the company backed its full-year 2014 earnings and revenue guidance, which were at the lower end of current Wall Street projections.
(Read More: 10 Things to Know for Today)
Hewlett-Packard - Wells Fargo upgraded the tech company to "outperform" from "market perform" and raised the valuation range from $30 to $32 from $23 to $25, citing potential net income and free cash growth, divestitures, and shareholder activism.
Micron - At least five brokerages raised their price targets on the chip maker after the company beat earnings expectations.


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With Assam changing into the final state to implement the one nation one ration card (ONORC) scheme, its pan-India rollout is now full. Under the scheme, beneficiaries can get entry to extremely subsidised foodgrains beneath public distribution system wherever within the nation. Launched in August 2019, ONORC ensures portability of round 240 million ration playing cards.
It allows migrant ration-card-holders to raise their quota of grain entitlement from any truthful worth store (FPS) within the nation through the use of the ration card issued of their house states or Union Territory after biometric authentication on digital Point of Sale (ePoS) gadgets put in on the FPS.’Since the launch of ONORC, 710 million transportable transactions – 436 million beneath National Food Security Act (NFSA) and 278 million beneath Pradhan Mantri Garib Kalyana Anna (PMGKAY) transactions have taken place beneath ONORC. According to a meals ministry assertion on Tuesday, subsidised meals grains price Rs 40,000 crore is delivered to beneficiaries by way of portability.
A month-to-month common of about 30 million transportable transactions are being recorded, delivering the subsidised NFSA and free PMGKAY foodgrains. As per estimates, 60 million folks migrate seasonally to numerous states in quest of livelihoods. Besides, round 80 million e individuals are intra-state migrants, shifting from one district to a different of their house state.
To guarantee ration-card portability, the Centre had requested states to subject the ration card within the bi-lingual format—native language and Hindi or English. A 10-digit customary ration card quantity was assigned to beneficiaries, whereby the primary two digits denotes the state code.Along with 10 digits, a set of one other two digits was appended with the ration card quantity to create distinctive member IDs for every beneficiary in a ration card.


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The first generation of the Toyota Fortuner came to be back in 2004. It is actually a Hilux based seven-seater SUV that comes in 3 model trims, the GX, GXL and the crusade. In 2015 the second generation was revealed, which has been in the market till when Toyota decided to give it a facelift. The 2021 Toyota Fortuner facelift was revealed alongside the Toyota Hilux which also got a facelift. Away from that, today let’s discuss some of the things the new Toyota Fortuner got from the facelift.
New toyota fortuner Styling
Apparently, Very limited styling changes have been made to the new Toyota Fortuner. The styling has only affected the LED headlights and the taillights and also a modified front and rear bumpers. Inside the Fortuner, the only change Toyota did is increasing the size of the infotainment screen display by one inch. The new touchscreen display features 8 inches and supports both android auto and apple car play.
Revised Engine, more power and transmission
In the new Hilux based seven-seater SUV, all the models are powered by only one engine. It is a 2.8 litre 4-cylinder turbo diesel engine. It powers out 150 kW and 500Nm of torque, thanks to the new refreshed Toyota Hilux powertrain making the new Toyota Fortuner more powerful compared to the previous models. When compared to the previous model a healthy increase of 20KW and 50 NM of torque is notable. The 2.8 engine is also mated with a six-speed automatic transmission system and has a switchable all four-wheel-drive system.
More Fuel economical
Having an 80l fuel tank, On a combined cycle the new Fortuner consumes 7.6 litres for every 100 kilometres. The fuel figure is actually 17 per cent less compared to the previous model fuel consumption, thanks to the new improved cooling system and the revised power train
Increased towing capacity
Definitely, this is an advantage that the newly updated Fortuner has over the model it’s replacing. The new 2021 Fortuner can tow up to 3100kg, this is actually 300kg more than the previous model its replacing could tow.


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Here is what a private equity firm does: it borrows money to buy a company; then it has the company borrow money to pay rich fees to the private equity firm, for providing the service of... sucking the company coffers dry like a voracious leech. This practice is currently bigger than ever.
It is a pretty great business model, assuming you are a private equity fund executive. You risk just a little cash to buy, say, a big huge hardware store chain. Then you have that hardware store sell a bunch of bonds— borrowing money from outside investors. What does the hardware store do with all of the money it just borrowed? Does it expand to new locations, or redo its stores, or give employees raises? Not at all. It simply hands that money over to the private equity firm. The private equity executives put that money in their pockets. Now they have a lot of profits, and the company they bought has a lot of debt to pay back, without getting any benefit from that debt. One expert quoted in the Wall Street Journal compares this practice to "taking out a home-equity loan and then using the money to go on vacation." It differs only slightly from the scene in Goodfellas where the mobsters burn down the restaurant after completely maxing out its credit.
So far this year, $47.4 billion of new loans and bonds have been sold by companies to pay dividends to the private-equity firms that own them, according to data provider S&P Capital IQ LCD. That is 62% more than the same period last year, which wound up being the biggest year on record, with $64.2 billion sold to fund private-equity payouts.
If everything goes perfectly, the PE guys will "reorganize" the company and then sell it off again, pocketing a new profit on top of their hefty fees. Of course, if business drops off, the company is stuck with a huge amount of debt, and that is how companies sometimes implode and have to lay all their employees off after being drained by private equity mosquitoes. Not to worry, though: even in this "doomsday" scenario, the private equity guys will keep their money.


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It's officially Olympics season. NBC's already sunk $1.3 billion into the games, hoping it can effectively promote the network's fall lineup during commercial breaks in front of a large engaged audience. The network is planning to broadcast and stream more than 5,500 hours of coverage across nine channels, 2,000 more hours than the last time around at the Beijing Olympics.
Apple also failed to wow investors
. But one highlight from its earnings call is chatter about Apple TV
. The company's CFO Peter Oppenheimer still considers it a "hobby," but said Apple will "continue to pull the string to see where it takes us." Though the Cupertino, Calif.-based company is "not one to keep around projects that we don't believe in, [there are a] lot of people here that believe in Apple TV," he added.
Roku is giving Dish exclusivity for foreign-language content
on its platform. It started by removing 25 channels and told developers they would have to strike licensing agreements with Dish. This move now puts the service provider in charge of distribution and billing, GigaOM noted.
It appears NBC is still searching for the next "Friends." The network's entertainment chief introduced its fall schedule earlier this week, noting NBC is moving away from shows such as the cult favorite "Community" in favor of broader programming
to appeal to a general audience.
Who else is thinking original content? Twitter. (Really
Bluefin Labs has a new CEO: Jean-Philippe Maheu. The outgoing CEO and co-founder will return to MIT Media Lab
, where Bluefin was birthed.
Google understands that people hate waiting for videos to buffer. New details of Google Fiber, which will arrive in Kansas City, Mo. and be 100 times faster than a basic cable modem
, have emerged. A gigabit and Google Fiber TV package, which includes hundreds of channels, is priced at $120 a month. Say goodbye to waiting.