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Aussie grain ready to quench SE Asia’s demand for beer
WA’s 4200 grain growers have become stakeholders in the rapidly growing South-East Asian beer market, following the official opening of the $US70 million Intermalt facility in Vietnam today.
Intermalt is a subsidiary of Interflour, one of South-East Asia’s biggest flour producers, which is 50 per cent owned by Cooperative Bulk Handling.
The new plant diversifies CBH’s income stream and offers new market opportunities for WA grain growers.
Located in Cai Mep, in southern Vietnam, the Intermalt plant has capacity to process 140,000 tonnes of barley annually, producing 110,000 tonnes of malt to supply local brewers including Heinekin and Carlsberg, and state-controlled brewers Habeco and Sabeco.
Intermalt general manager James Kirton said 95 per cent of alcoholic beverages consumed in Vietnam was beer, and the market was growing at a rate of between 6 per cent and 9 per cent annually, ensuring a stable demand.
Interflour chief executive Greg Harvey said there was further potential to supply malt to South-East Asian cosmetic companies, as well as to confectionery and breakfast cereal manufacturers amid an increasing trend away from the use of refined sugars.
Such strong demand could contribute to the plant doubling its processing capacity in the near future.
“It’s not a question of if, but when we go to doubling up processing capacity,” Mr Harvey said.
“The infrastructure has been built to facilitate that. We will be in a position within the next 12 to 18 months to make a decision.”
Intermalt will buy most barley from WA growers via CBH, but can source from other countries to ensure quality and reliability.
“Part of the risk-management framework is to have the ability to procure from multi origins, so if WA does have a drought year, we can look at other countries to source our barley,” Mr Harvey said.
“However the underlying preference is for WA barley, given the quality and the suitability of the particular varieties grown.”
Also beneficial is the efficient supply chain from WA to Vietnam.
Because most wheat supplied to Intermalt’s South-East Asian flour mills comes from WA, smaller barley shipments can be combined with bulk wheat shipments, reducing transport costs.
As part of the final commissioning phase, Intermalt has already purchased 42,000 tonnes of malt barley, of which 32,000 tonnes came from the Kwinana and Albany port zones of WA.
The barley cargo was combined with a wheat shipment for Interflour’s South-East Asian mills, and departed Australia in mid June.
CBH chief executive Andy Crane said grain growers would benefit from Intermalt’s investment returns.
As part of Interflour, profits from Intermalt would be used to reduce grain farmers’ handling and storage fees.
CBH joined forces with Indonesian-based Salim Group to buyInterflourin 2005. Since then, the investment has returned $US48 million to CBH, including $US35 million in the past five years to end 2015.
Last year’s Interflour returns however were a disappointment, with CBH’s share of profits being just $300,000, compared to $8.4 million in 2015. The decline was attributed to a tough environment for flour millers in Asia, but Mr Harvey said returns were “back on track” for 2017.
CBH chairman Wally Newman said WA growers delivered 1.5 million tonnes of malt-grade barley into the CBH receival network during the last harvest. Due to a poor 2017 growing season, less malt-grade barely is likely to be delivered this year.
The reporter attended the opening ceremony in Vietnam as a guest of CBH Group.
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An overhaul of the Prompt Payment Code (PPC) to tackle delayed invoices owed to small businesses has been announced by the UK government.
Under the new reforms, companies that have signed up to the PPC will be required to pay 95% of invoices from small businesses (those with less than 50 employees) within 30 days, effective from 1 July 2021; the target for larger businesses will remain 95% of invoices within 60 days – the current time outlined in the Code.
The UK government says £23.4 billion worth of late invoices are currently owed to companies across Britain, impacting on businesses’ cash flow and ultimate survival.
The reforms coming into immediate effect require a company’s CEO or finance director (or the owner, if it’s a small business) to personally sign the PPC to ensure responsibility for payment practices is taken at the highest level of an organisation, and they should acknowledge that suppliers can charge interest on late invoices as a condition of signing the Code.
Administrators of the PPC are also now able to investigate breaches of the Code based on third-party information, and a new logo has been introduced for signatories to use in external communications to show their commitment to the PPC, making it more damaging to a company’s reputation to breach it.
The PPC currently has over 2,800 signatories, who are required to pay 95% of their invoices within 60 days or else be publicly struck off the Code until substantial changes to their payment practices have been made.
According to the Federation of Small Businesses (FSB), around 50,000 businesses close every year due to late payments. Mike Cherry, national chairman of the FSB, commented: “A late payment crisis was massively stifling the UK economy before Covid-19 hit, and the pandemic has deepened it.
“FSB has campaigned for good payment practice to become the norm across the UK economy, not least through a toughening of the Prompt Payment Code and the adoption of 30 days as the new maximum payment period.
“It’s good to see the progress announced by Department for Business, Energy and Industrial Strategy. It’s now time for swift delivery, and for all existing and future PPC signatories to implement 30 days as the new maximum.
“Ending our pernicious poor payment culture for good over the coming months will be fundamental to turning our hopes of economic recovery into reality.”
The Confederation of British Industry’s chief UK policy director, Matthew Fell, added: “Covid-19 has once again highlighted the importance of maintaining healthy supply chains.
“Small companies are the backbone of the economy, but remain the most at risk from a late or unpaid invoice – particularly after months of pressure on cashflow. Businesses have been making good progress to improve payment practices, but more can be done.
“Introducing new rules to drive faster payments to smaller businesses will strengthen supply chains, benefiting the firms that need it most, and shortening the road to recovery.”

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There has been a significant increase in the number of investigations into cryptocurrency firms by the UK Financial Conduct Authority (FCA). In fact, in 2019 alone, there has been a surge of 75% as regulatory bodies increase their hold on the crypto space.
According to research from the international law firm, Pinsent Masons active investigations into cryptocurrency companies have increased significantly to just under ninety firms this year from just 50 in 2018.
Speaking on the huge increase in such investigations, David Heffon – a partner at the law firm – noted how the spike came following a renewed cryptocurrency guidelines were posted back in July.
“The rise in investigations reflects the FCA’s increasingly hands-on and no-nonsense approach to enforcing the law in the cryptocurrency market […] For cryptocurrency businesses acting lawfully these statistics will be encouraging – they want bad actors pushed out. The FCA’s crackdown on businesses operating on its regulatory perimeter will instill a degree of confidence that products reaching consumers are less likely to be scams.”
Such scrutiny hasn’t meant a decrease in the power of the FCA though. The watchdog is also looking into a ban on crypto derivatives within the United Kingdom. Such proposed ban could have an impact on products, retail investors, and include futures and options trading.
The FCA hasn’t been able to get away without any backlash from the industry though. Experts have claimed that crypto derivatives are just as risky as traditional assets.
In response to the FCA proposal, Coinshares (a crypto platform based in the UK) wrote an open letter to the watchdog saying they haven’t done their job right…
“We believe that the FCA has not provided sufficient evidence to justify the proposed ban. Through its consultation, the regulator makes little attempt to genuinely evidence its claims and instead ‘cherry picks’ datasets in order to illustrate its perception of crypto assets, ETNs and the perceived harm the FCA believes these products cause.”
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!


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Industry experts of both countries recently pleaded for increased air connectivity between Zimbabwe and Turkey for enhanced logistics and transportation, as this will increase trade volumes between the two countries.
ZimTrade chief executive officer Allan Majuru recently spoke at the Zimbabwe and Turkey business webinar, urging the Turkish airline and Airline Zimbabwe to consider establishing a direct route or have a synergy arrangement to ensure ease of movement for both goods and human traffic.
"To facilitate business between the two countries, there is need to make sure that, whether it is Air Zimbabwe or Turkish Airline, there is a direct flight that comes to Zimbabwe or to Turkey from Zimbabwe," he said. "We believe there are a lot of people going to Turkey and also vice versa. So, it's quite something that needs to be taken note of."
Majuru said Turkey has advanced technology that Zimbabwe, riding on the cordial bilateral relations between the two states, could tap into for retooling of local industry to buttress production of value-added goods.


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BooFest – Halloween Night In Chillicothe
Chillicothe’s annual celebration of Halloween, BooFest, will be Monday evening in Downtown Chillicothe. Main Street Chillicothe Director Tomie Walker says it is a safe alternative for the kids.
Walker says BooFest will be from 4:00 to 6:00 pm.
Several businesses from outside the downtown area will be downtown for Boofest, including the Children’s Library – with books for the kids.


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At McMaster University, students, researchers, faculty, and staff collaborate across disciplines to explore and expand their potential in a globally renowned, innovative education and research community, committed to advancing societal health and wellbeing. For the next several months, the DeGroote School of Business will be highlighting researchers that are contributing to this push for a brighter world.
“Do you have a loyalty card?” It’s a common question, in many variations, asked at cash registers across the country.
How customer loyalty programs affect consumer behaviour, as well as their impact on a company’s bottom line, is of great interest to Alina Nastasoiu, Assistant Professor, Marketing, DeGroote School of Business.
Given the wide reach of loyalty programs available to consumers – a 2017 industry report by Colloquy reveals there are 3.8 billion loyalty program memberships in the U.S. and 175 million in Canada – the research is essential from several angles.
“We need to understand how consumers engage, or fail to engage, with these programs. Also, how these programs should be designed to ensure they are good investments for companies, and are effective in forging strong relationships with consumers,” says Nastasoiu.
One key area of her work involves the study of point redemption, or lack thereof. Nastasoiu is intrigued by a Colloquy finding that the average U.S. household fails to cash-in about a third of the loyalty points it collects.
Using secondary data, she learned that refraining from spending loyalty points is actually a conscious choice among consumers. It’s unaffected by reward availability, point expiration, or disengagement with a given program.
Interestingly, Nastasoiu determined that consumers value loyalty points more than regular currency – at least in lower amounts. As a result, they are more likely to spend money and save loyalty points.
“I found consumers’ reluctance to redeem their points surprising,” she says. “I think this speaks to our preference for spending loyalty points on treats, rather than necessities, as well as our strong desire to keep our options open.”
While investigating the effectiveness of retail loyalty programs, Nastasoiu also discovered that 70 per cent of participants respond by spending more money, while 30 per cent respond by becoming more sensitive to promotions offering bonus points.
Finally, her research has shown that when choosing between a smaller reward, available immediately, and a larger reward, available later, participants who imagine they will use loyalty points to pay are more likely to choose the distant reward. This is compared to participants who imagine they will use money to pay.
Currently, Nastasoiu is expanding her research by examining how consumers react to the implementation of individually-targeted promotions or personalized coupons, based on their history with a company. She is seeking to answer questions such as: Do consumers learn to anticipate promotions? Do they try to strategize to increase their chances of receiving an incentive?
“These are important questions,” she says, “because depending on the answer, businesses will design different types of algorithms that implement these individually-targeted promotions.
“My research is ultimately trying to say something new about the way in which people behave, to help us understand ourselves better,” she concludes.
Alina Nastasoiu came to DeGroote from Ivey Business School in 2016, where she earned a PhD in Marketing. Her primary area of expertise is “loyalty programs” – a common corporate tool that rewards repeat customers with exclusive perks and bonuses. More specifically, she’s interested in studying how these programs change consumer behaviour, as well as how they impact a company’s bottom line. In the classroom, Nastasoiu favours illustrating new concepts by relying on examples that are already familiar to students. She’s also a keen supporter of experiential education, as well as enhancing teaching and learning outside the classroom.


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Antillana SuperFood to Open New Bronx Outpost in Longwood
A new Antillana SuperFood market is headed to the Longwood neighborhood of the Bronx this year.
The supermarket inked a 20-year deal for 5,100 square feet on the ground floor of 1000 Westchester Avenue, a 120,000-square-foot retail development, said landlord Peter Fine. Asking rent was $50 per square foot.
Antillana plans to open in the storefront on the corner of Fox Street and Westchester Avenue by the end of this year, after the seven-story property wraps up construction in the summer, Fine said. He added the supermarket was a perfect fit for the neighborhood.
“We try to bring good services to working-class neighborhoods,” Fine said. “These are not elective goods and services. We’re not doing designer clothing and cosmetic surgery. We’re providing food.”
The supermarket, which has four other Bronx locations, will join charter school Democracy Prep Public Schools and primary care provider Community Healthcare Network at the property.
Kassin Sabbagh Realty’s Marc Sitt handled the deal for both sides. Sitt and a spokesperson for Antillana did not immediately respond to requests for comment.
Celia Young can be reached at firstname.lastname@example.org.


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Archive for the ‘United Arab Emirates’ Category
In a move to introduce exciting new offers to its customers, Etisalat’s ‘More’ loyalty rewards program has teamed up with Cobone to provide them with daily deals and more ways to gain more value.
This is being introduced as a new feature on Etisalat’s ‘More’ Rewards website, giving ‘More’ loyalty program members the opportunity to make significant savings as well as gain ‘More’ reward points when visiting the site for “special deals”. The deals on the exclusive site are powered by Cobone’s deal-of-the-day platform.
This is an interesting move for Cobone, who it seems have worked on some redevelopment and redesign to be able to support such integration, to expand their reach beyond their site and onto partner sites and platforms such as the Etisalat one.
Online services that push us to check-in and share the places we’re at, what we’re doing, what we’re eating, what we’re watching and pretty much every other daily activity we could possibly be engaged in are all around us these days, urging us to over-share our every single move with the world, in many cases for nothing but the sake of over-sharing.
CareZone is a new check-in service that aims to make a difference and add purpose, by creating a link between users’ check-ins and spending at different places on one hand, and channeling benefits to those in need on the other.
The platform offers a location-based mobile app that suggests and rewards users for choosing and checking in at a CareZone partner (shops, restaurants, …etc.) Users earn CareZone Coins for their check-ins; spending money at the CareZone partner’s business will earn them even more Coins.
Logta the online service that provides shoppers with a one-stop shop for promotions, that was previously covered here, has expanded and released what they’re describing as an online mall.
They’ve gone ahead and launched a new section under their portal called Logta Mall, with a wide range of online stores for a number of retailers covering various sectors and offering their products for sale online through Logta’s new platform.
So to build up towards a B2C model, Logta’s sales team get in touch and work with a variety of retailers in order to put together partnerships, through which Logta sets stores for them on the platform with all the products they want to put up for sale, and then handle all the order processing, online payments and shipping follow-up.
There’s no arguing that we currently live in a mobile world, and since the launch of the iPhone a few years ago and all the developments that have followed in the smartphone space, contributing to the spread of such devices around the world, mobile apps have taken over as the hottest innovation area in tech.
Planet of the Apps Arabia 2011 is an event that will be taking place at Dubai’s The One & Only Royal Mirage Hotel from 18th to 20th of April 2011, aiming to cover this fast growing and exciting space. It is organized as a two day strategic conference, dedicated developer masterclass and a technology showcase exhibition.
The aim of the event is to bring together the mobile application ecosystem in one location, and get insights into what the spread of mobile applications means for business from some of the industry experts.
The percentage of respondents in the UAE accessing the Internet for shopping increased from 29% in 2009 to 42% in 2010 according to the results of a recent MasterCard survey on online shopping.
Results of the fourth survey on online shopping conducted by MasterCard also revealed that growth in the UAE is led by consumers within the age group of 25-44 years, while those in the 35-44 years age group also purchased more items and more frequently than others.
Involvement with online shopping also increased among women in the UAE, with 40% of respondents accessing the internet for online shopping in 2010, compared to 33% in 2011.
Categories leading the growth in the UAE in 2010 include airline tickets (74%) and hotel bookings (66%), followed by home appliances and electronic products (32%), clothing & accessories (34%), restaurants/home delivery of food (32%) and supermarkets/superstores (32%).
Dubai Silicon Oasis, the integrated free zone technology park, has launched a new big project in the UAE, the ‘DSO Technology Incubator’.
The incubator’s goal is to support new start-ups and encourage entrepreneurs in the field of technology by stimulating the development of successful companies, and chart a new avenue for investment in technology in the Arab region.
The incubator comes as part of DSO’s hi-tech ecosystem and the six technology sectors that remain the focus of the technology free zone.
Dubai Internet City just announced that it is preparing to host another edition of DemoCamp Dubai, the event enabling tech entrepreneurs, students, professionals and engineers to showcase and launch their new products in front of the tech community, and obtain valuable feedback from a like-minded audience comprising venture capitalists and angel investors.
This next edition of DemoCamp Dubai will be held on November 24th, from 6.30pm – 9.00pm, at Dubai Internet City; probably at the Knowledge Village Auditorium as usual. It is planned to include six demos from entrepreneurs.
Applicants will be screened by a panel of industry experts, including the organisers and business partners of DIC. Shortlisted applicants will be required to demonstrate their product and highlight its market opportunity, stage of corporate development, and identify the competitors. Demonstrations need to convey working software, hardware, network services and other features.
Tandem, the Dubai-based business advisory company, will be hosting a 5th installment of GoSolo at The Shelter in Dubai, today Wednesday October 13th, 2010 at 7PM.
GoSolo is a series of entrepreneurial workshops organized by tandem and that aim to help and guide aspiring entrepreneurs through the different challenges of launching a startup and give them answers to all their various questions.
This month’s session, titled ‘Raising Capital for Your Startup‘, will include a discussion led by the founders of tandem, Rabih Brair and Amir Farha on the industry, and insights on what investors are looking for in today’s market. The topics include the regional investment landscape, the selection criteria that investors look at and a Q&A session with one of the founders of Duplays.
Du, UAE’s second mobile operator, has just launched a new big online project branded Anayou, which seemingly aims to position itself as a central destination for users. Some are describing it as a social networking service, and even though that’s the biggest piece of it, there are other pieces to this puzzle that Du seems to be putting together.
The first thing that you’ll notice from Anayou, before even getting to know what it does and doesn’t do, is how slick and neat it looks; it’s a well designed service that stands out from many of the other services that were previously launched in the region in the same area of focus.
Anayou offers a variety of features, covering the different functionalities you’d expect from a social network like finding and connecting with your friends, following their updates on Anayou as well as on services like Twitter and Facebook, leave comments (shout outs) on their profile pages, as well as messaging them in private.
Virtuzone, a virtual UAE-based free zone, in partnership with Dubizzle, the UAE’s leading online classifieds service, have launched a new business competition under the name of ‘The Falcons’ Lair’, offering entrepreneurs an opportunity to make their business dreams a reality.
Entrepreneurs whose ideas are chosen at the end will get an offer from Virtuzone to set up their company for free, including all the costs for the first year of incorporation; and they’ll get the equivalent value of that in online advertising on Dubizzle for free. The competition’s official site claims this amounts to an accumulated value of over AED 100,000.


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Symphony to Grow On-demand Delivery Services
Symphony helps companies like Gatorade and Hershey’s manage their web business, is raising $11 million to grow its fulfilment business., helping these brands to speed up last-mile deliveries.
Symphony Commerce, provides the developer tools to create and run these websites, sees themselves as a “commerce-as-a-service” business. They help beverage companies and fashion brands with everything from web design to inventory management.
With order management tools and a network of warehouses, Symphony says its offerings will make it easier for large companies to provide two-day shipping or even same-hour delivery in major metropolitan areas.
Pressure from competition like Amazon and on-demand delivery apps has resulted in higher expectations from customers. So that’s why Symphony will now be making fulfillment capabilities a greater focus and can provide these services as a standalone offering.
Ajay Agarwal, managing director at Bain Capital Ventures, says that he believes Symphony “has built the first full stack cloud commerce solution.” He said that clients “recognize their needs to build a direct-to-consumer presence.”
Others in the space include Magento, BigCommerce, Shopify and Demandware. While there are differences in some of the offerings and each has a separate niche, there are a lot of businesses who are looking to capitalize on the massive online shopping industry
Symphony has previously raised $39 million in funding. -Article published on TechCrunch


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When the Los Angeles Galaxy signed David Beckham to a five-year deal in January 2007, a huge financial figure was instrumental in garnering headlines for the news. “The deal to bring Beckham to America is thought to be the biggest in sporting history,” according to the press release, “with industry experts estimating the combined value of the player contract with commercial opportunities in the United States to be in excess of $250 million.” That figure appeared prominently in dozens of news articles around the world, including the print Journal’s. Inevitably, in subsequent coverage it has been repeated as a hard number representing the value of the contract.
But the figure was always a projection, and a dubious one. Those “industry experts” were never named. Mr. Beckham’s annual base salary has been just $5.5 million, according to union documents that the Galaxy won’t confirm. His marketing prowess, while it remains strong, is jeopardized by his disappointing debut with the Galaxy: just nine regular-season appearances, six of them losses, with Mr. Beckham notching one goal and five assists. Since the Beckham signing, the Galaxy have lost 16 of 34 games and were outscored by a cumulative total of 13 goals. England’s failure to qualify for this summer’s European Cup will deprive Mr. Beckham of international exposure, and if the national team qualifies for the 2010 World Cup, he may not make the squad.
Whether he will earn $50 million in the contract’s first year, through June 30, is unclear; even if he does, it will be hard to maintain that pace through age 37, by which time his skills are likely to have declined. “The honeymoon with the Galaxy and Beckham has not been all that long,” David M. Carter, executive director of USC’s Sports Business Institute, told me. “They’re struggling with keeping the notoriety and the buzz going. In Los Angeles you need to have a winner and you need to win with some flair. They’re not off to a great start.”
While the Galaxy may see attendance decline if they can’t improve on their mediocrity, much of the hope on reaching that $250 million comes from outside Los Angeles. Nearly 300,000 Beckham jerseys were bought in the first week of sales, according to the club. Galaxy general manager Alexi Lalas told me the jersey sales are a “world-wide phenomenon.” And despite the Galaxy’s poor MLS showing, it has become the league’s top international draw for exhibition matches — on par with top European clubs such as Mr. Beckham’s former side, Real Madrid, according to Mr. Lalas. “The Galaxy’s fee may have gone up from $100,000 to $500,000 and upwards” per match, John McCluskey, vice president of the soccer consulting firm 11 Sports Marketing, told me. Mr. Beckham’s deal reportedly allows him to share in merchandise sales and club profits.
Mr. Beckham is on pace to make $250 million on the deal, Mr. Lalas said. “Beckham has been incredible business for the Galaxy and for himself.” Glenn Lehrman, Mr. Beckham’s U.S. spokesman, declined to comment on Mr. Beckham’s earnings. “Is he on pace?” Mr. Lehrman asked. “Some of the anecdotal evidence you might see would suggest that.” He pointed to new endorsement deals with Giorgio Armani, Sharpie and GO3, a supplement company. “The general opinion is he is at least on track,” said Mark Friedrich, vice president of the Bonham Group, a sports-marketing company. But no hard figures have been released, nor are they expected, calling into question why anyone reports an unverifiable financial figure as fact.
The provenance of that $250 million figure remains mysterious. “I don’t know where the $250 million came from,” Mr. Lehrman said. “It didn’t come from our camp.” Mr. Lalas said the Galaxy wasn’t the source, but added, “If it was a number we didn’t agree with, we would have corrected it.” Michael Roth, spokesman for AEG, operators of the Galaxy, called $250 million “the best estimate made jointly by the organizations after consulting with each other and various marketing and sponsorship experts.” He declined to name any of the experts.
The fuzzy number undoubtedly helped market the deal as historic, even though Mr. Beckham wasn’t the first international soccer star to play in the U.S. Pelé was a part of three World Cup-winning teams with Brazil and is widely considered the greatest soccer player ever. Bobby Moore played more games for England than Mr. Beckham and won a World Cup. “They wanted to make sure the number itself had marketing value to it,” Prof. Carter said. “That in itself creates its own marketing buzz.” Mr. Lalas agreed, saying, “There was a tremendous amount of interest in that number.” However, he stood by it: “The reality is that number is attainable and even surpassable.”
Further reading and viewing: “60 Minutes” said that after Tiger Woods, Mr. Beckham is the best-compensated athlete in the world. When Anderson Cooper mentioned the reported $250 million figure, Mr. Beckham coyly said, “I heard that as well.” France Football magazine recently estimated that Mr. Beckham earned $48.9 million, all told, in 2007; the initial report is in French, but Bloomberg reports the figures in English. The magazine didn’t respond to my inquiry about the source of its figures. Two caveats: (1) the Galaxy contract took effect mid-year; and (2) the figure includes prior endorsement deals, which didn’t result from the Galaxy signing. Sports Illustrated’s Chris Ballard offers numbers suggesting that, when Mr. Beckham was on the field for the Galaxy last year, he was extraordinary at creating scoring opportunities.


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Security holds the key to the future of IT. Confidence must become the watchword for the industry if we are to see a genuine revival - rather than simply a renewal of equipment - over the coming months.
That means looking at security in a more positive way, not simply as a defensive wall but as an enabler for the next generation of technology and business processes.
Computing's campaign will find out how that can be achieved. It's not just a matter of software and services. It's A Question Of Trust ...
Nearly 22 per cent of consumers who had never done any online grocery shopping before the pandemic are now doing so
Companies are challenging Amazon in retail and cloud
Cosmetics firm is undergoing a top-to-toe tech refresh with GDPR compliance thrown in
DFS resorts to cloud to help handle spikes in online demand
Economy and business performance not a problem, reckon small firms


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Volkswagen Group (DE:VOWG_p) will name later on Monday an interim leader for its premium Audi (DE:NSUG) brand after the unit's Chief Executive Rupert Stadler was arrested, a person familiar with the matter said.
Amazon (O:AMZN) will add more than 1,000 new jobs in Ireland over the next two years, the U.S. online retail giant said on Monday, taking its workforce to more than 3,500 in a country that continues to be a magnet for major technology firms.
Britain's regulator will launch an investigation into the impact of new European Union rules on the asset management industry after concerns were raised about how they affect the pricing of investment research and other issues.
Britain's top stock index fell on Monday as trade tensions between the United States and China kept the pressure on equity markets across Europe.
U.S. futures were lower on Monday as rising trade tensions between the U.S. and China continued to weigh on investors.


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Urbanica The Hotels owners Diego Colmenero and Charlie Porchetto have announced that the celebrated NYC eatery, Regina’s Grocery, on July 15 is opening its first outpost at their Meridian Hotel in Miami Beach’s exclusive South of Fifth neighborhood.
This fall, Orilla by famed Chef Fernando Trocca from Argentina, is also slated to open at Urbanica’s new Euclid Hotel in South of Fifth.
Originating in the Lower East Side of New York, Regina’s Grocery is the brainchild of Roman Grandinetti and his mother Regina. Using high quality, organic, Italian ingredients, and incorporating them into some Italian favorites such as Chicken Parmesan, all sandwiches are made fresh daily with locally sourced charcuterie, and fresh bread from New York’s renown Sullivan Street Bakery.
“We grew up with family-owned delis and pork stores serving home-cooked Italian specialties and big, delicious sandwiches all around us. They were places where people from around the neighborhood of all different stripes would commune, laugh, eat, and love. These memories made us who we are, and we wanted to introduce the Italian-American classics you would find in New York City to Miami,” Grandinetti said. “My late uncle had a major influence in Miami, and it was our dream as a family to expand here.”
Regina’s Grocery will offer a “family tree” of signature sandwiches, as each sandwich is named after a Grandinetti relative, such as the Uncle Jimmy, Roman and Uncle John. Regina’s Grocery will also serve late night Panini’s at the hotel’s intimate Minibar.
Hot specials, which will be available once a week, will include Meatball Parm, Chicken Parm, Fresh Marinara, Sausage with Peppers and Roast Beef.
Regina’s Grocery also will offer picnic baskets to-go for guests to take with them to the beach and other excursions. The deli will serve a Miami favorite – Panther Coffee – open daily from 11 a.m. to 6 p.m., offering complimentary coffee to guests and locals in the hotel’s lobby.
Photo Credit: Tara Ink.


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Amazon is also on track to overtake Argos as the largest toy retailer in the U.K.
GlobalData also reports that online sales will contribute to 84.1 percent of the total category growth for 2017-2022. And of those online sales? Amazon is currently on track to overtake Argos as the largest toy retailer in the U.K. by 2020, with 51.4 percent of toys and games shoppers visiting the site in 2017.
“Amazon has managed to improve shopper loyalty with its Amazon Prime services, and impressive range of toys and games,” says Molly Johnson-Jones, senior retail analyst, GlobalData Retail. “Prices on this year’s must-have toys are lower than its competitors, its range is unrivalled, and the convenience of its offering is market-leading.”
Delving deeper into the category, electronic and traditional toys will also support strong market growth over the next five years. Electronics are expected to hold 13.1 percent of the
“Electronic toy growth is not changing the market yet, as older parents and grandparents still choose traditional toys over toys which bridge the interface between physical and digital play,” says Johnson-Jones. “However, as Millennials who grew up with digital entertainment start to have families, electronic toy sales will increase, and their simultaneous desire to do more ‘wholesome’ activities will mean that the strong growth of traditional toys will continue.”
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Is inflation in Brazil the fault of the government or is it a reflection of what is happening in the world? According to economists who have heard UOLThere was even a global rise in food and oil prices. But inflation could fall if the Brazilian government does not fuel the appreciation of the dollar and take measures to limit the impact of rising prices in the world, according to experts.
For a group of economists, among the measures that could have been taken by the government is the use of the Food Regulation Stock, which is an oil fund for the food sector. fuel, and a greater presence in the foreign exchange market. Another group disagrees with these measures as they would be attempts to artificially manipulate market prices, with little lasting effect.
But two groups of economists have heard before UOL We agree on one point: if there was less uncertainty about the policies of the current government, the dollar would not rise much, and inflation, according to the schedule, would be lower.
The highest inflation rate in the world
Minister of Economy Paulo GeddesAnd He claims that inflation is the highest worldwide. In fact, price indicators have changed from levels since the beginning of the epidemic: in the group of the 20 richest countries in the world (the Group of Twenty), the inflation rate has risen from 3.5% to 4.5% since the beginning of 2020, pulled by four factors.
- raw materials: After the interruptions in the production of various economic activities, consumers began to buy again, starting with China, increasing their purchases of metals, steel, grains and protein.
- Consumption change: People who have stopped spending on leisure time away from home, due to social isolation, are choosing to consume more goods, such as televisions and appliances, just at a time when industry and transportation are still facing constraints to meet more demands.
- petroleum: The world’s main energy source, oil is rising with the largest consumption in the world, rising nearly 50% since the start of 2020.
Inflation in the 20 richest countries in the world, accumulated in 12 months:
- Argentina: 51.42%
- Turkey: 19.58%
- Brazil: 10,25%
- Russia: 6.69%
- Mexico: 6.00%
- United States of America: 5.40%
- South Africa: 5.08%
- India: 4.81%
- Canada: 4.09%
- Germany: 3.87%
Inflation rose further in Brazil
In Brazil, high inflation has been more powerful. The IPCA (National Broad Consumer Price Index) jumped from 4.31% in 2019 to 10.25% in the 12 months to last September. Watch the main factors of inflation in the country:
- dollarHere, inflation is driven by the dollar, which has risen 25% since the beginning of March 2020. The dollar makes everything that has been priced in the international market, such as fuel, more expensive.
- fuel: Higher gasoline, diesel, and ethanol prices pollute other prices, as transportation is included in the cost calculations for all sectors of the economy.
- energy: Water scarcity prompted the government to activate thermal power plants, which cost more than hydroelectric power plants.
- foodAlready rising food prices suffered another impact due to the frost affecting crop production.
Price variance in the 12 months to September
- food: 14.7%
- rice: 11.4%
- beans: 12.6%
- corn: 16.7%
- Vegetables and vegetables: 18.1%
- meat: 24.9%
- Soy oil: 32.1%
- Gas cylinder: 34.7%
- Residential Electricity: 28.8%
- fuel: 42%
What should the government have done?
For a group of economists, inflation is stronger and more resistant in Brazil, mainly due to uncertainty about the government’s economic policy and the lack of concrete measures to prevent prices from rising in some sectors.
The Brazilian currency is detached from the fundamentals of our economy due to political uncertainty. There is a lack of public policies capable of cementing investor confidence, reducing the supply of foreign currency and keeping the dollar rising.
Roberto Padovani, chief economist at BV Bank
The problem of inflation would be less serious if the president were someone else. He has a stake in this.
Melson Da Nobrega, former Minister of Finance
Why did the dollar rise so much? It’s about the signals that the Brazilian government has sent to investors. If the dollar does not come to Brazil, the dollar will rise and pollute the entire economy.
Fausto Augusto Jr., Technical Director of Dieese
What can the government still do?
Stop improvising and improve communication: According to economists, the fundamentals of the Brazilian economy justify the arrival of the dollar to about 4.70 Brazilian real instead of 5.50 Brazilian real. But uncertainty about the government’s commitment not to increase spending increases the country’s risks and keeps foreign investors away.
All the economists who listened to them said the government should then clarify what the public spending plan is not only for 2021 but also for 2022. UOL.
NS Comes and goes from announcing new help to families, on Tuesday (19), cited by economists as an example of improvised projects in Brasilia.
Interfere in the economy or not?
Other measures that can be adopted to contain inflation, on the other hand, are controversial because they represent a kind of market intervention.
Use regulatory stock: The government should use stock from Conab (the national supply company) to supply the market with more rice, corn, beans and soybeans, for example, and lower prices.
When the price of the product falls below the cost price, the government buys a part of the crop, and pays the minimum amount to the product so that it does not incur a loss and thus grows a new crop.
This stock is sold in the market when the price rises too high for the consumer. The problem is that stocks have practically run out in recent years.
Stocks of these products function because they meet the low domestic supply when part of the production is directed abroad, due to higher prices. But the government adopted the strategy of reducing stocks, and lost its ability to act.
Nelson Marconi, Economist and Professor at FGV
According to Marconi, coordinator of the Center for the Study of New Development at the Getulio Vargas Foundation (FGVcnd), regulatory stocks help hold prices in times of strong increases for various products. Corn, for example, is used to feed chickens and pigs and thus affects the values of these foods.
oil box: Part of the fuel adjustments could have been reduced by Petrobras If the oil company is financially compensated for holding prices for a certain period. This money will come from a fund, provided by the company’s prior profits to the government or taxes.
According to economist André Roncaglia, professor at Unifesp (Federal University of São Paulo), oil affects almost everything in the Brazilian economy, which is why adjustments must be slowly transferred to consumers.
This box will not be used to prevent mods, but to prevent them from being too powerful and in such a short time. Countries such as Chile and France use this mechanism so that the entire economy does not suffer from the volatility of international prices.
André Roncaglia, Economist and Professor at Unifesp
Surface measurements don’t help
Former Finance Minister Melson da Nobrega, a partner at the consultancy Tendências, says artificial measures to contain prices had already been used, as in 2015, by the Dilma Rousseff government, to fight electricity adjustments, and the bill came later.
Melson da Nobrega says that regulatory stocks no longer work as well as they used to, because Brazil today is more open to the global economy. If food prices here are artificially low, the producer increases exports.
For the economic advisor to FecomercioSP (São Paulo’s trade association), Guilherme Dietze, the oil fund can ease fuel adjustments, but even so, the result will be negative for a part of the population, since the bill will be paid even by those who do not have a car.
For these economists, the most convenient tool that the government must tame inflation – in addition to sending a clearer message about spending policy for the next year – is actually raising interest rates. What has already been done. But at a cost: The economy will grow less.
The Economy Ministry said it would not comment on the matter, and the central bank did not even respond to the publication of this text.
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Finnish handset maker Nokia and Microsoft have already confirmed a launch event on September 5, which will be held in New York.
Although we’re not completely sure that Nokia will launch new Windows Phone 8 devices, all rumors seem to indicate the company will be the first to unveil new smartphones powered by Microsoft’s upcoming operating system.
Today, Bloomberg’s Dina Bass reports that Verizon Wireless will be one of the carriers favored by Nokia to launch at least one Windows Phone 8 device this year.
It appears that Verizon wants some freedom from the clutches of Apple’s iPhone as well as Google’s Android platform, and thinks Microsoft’s Windows Phone 8
operating system is exactly what it needs.
On the other hand, the carrier plans to expand its portfolio and offer customers more attractive choices when it comes to smartphones.
It will be interesting to see if Verizon’s partnership with Nokia will be more successful than the latter’s longstanding relationship with AT&T.
There are no details on the Windows Phone 8 device that will be launched in the United States through Verizon Wireless, though we can safely assume Nokia will want its best phone to be the tip of the spear.
While Nokia is expected to announce at least one Windows Phone 8 smartphone on September 5, the device won’t be available on the market earlier than October. This means that Verizon won’t be able to release its first Nokia Windows Phone 8 device until October.
Even though both companies’ officials declined to comment on this rumor, we’re pretty sure that the Finnish company will launch at least one Windows Phone 8 device
in North America by the end of the year.
It remains to be seen if Nokia wants to drop its partnership with AT&T in order to jump into Verizon’s boat, or both carriers will launch Windows Phone 8 devices this year. Stay tuned for more updates on the matter.


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Sales of Mix Fold 3 units were 2.25 times more than Mix Fold 2 from last year, although the company did not reveal actual numbers. It did, however, on the Redmi – 220,000 units sold in just five minutes.
Looking back in 2022, the Mix Fold 2 was also dubbed a success, with all devices selling out in five minutes, but once again, Xiaomi did not reveal the actual amount. The numbers could be anywhere between 100 and 1,000 or even more – we can speculate all day, but the truth is the Mix Fold 3 really did outsell its predecessor by a margin.
After all, it is thinner, lighter, with more and improved cameras, and a bigger battery on top of all. Sadly, global fans are missing out all these neat features because the Mix Fold 3 will remain in China.
The domestic success of the Redmi K60 Ultra could be a foretelling of what the Xiaomi 13T series could bring. We already saw how the Redmi K50 Ultra got an improvement in the camera department when it was relaunched as Xiaomi 12T Pro, and we can only wonder whether a similar thing will happen this fall.
A report suggested Xiaomi is planning a 13T launch on September 1 – and given how IFA Berlin is taking place at the same time, we could see an event in the German capital.
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Representatives from auto companies and the U.S. postal service meet in Washington D.C. on Wednesday to discuss replacing the postal service’s fleet of mail trucks.
The trucks, manufactured by a fighter jet maker, were designed to last but not for 30 years. They are guzzling fuel, are requiring too much maintenance, and aren’t big enough for the postal service’s growing e-commerce package business.
The contract for a new fleet of trucks could be a $6 billion bonanza for the winning manufacturer, but it also has its challenges.
Click the media player above to hear more.
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Want to escape politics this Halloween? You’re in luck. This year’s trendy costumes are game characters, superheroes and dinosaurs — no Zombie Jared Kushner, Chucky Schumer or Frankenstormy Daniels to be found.
Political costumes are not hot this year, according to the Google News Lab. The search giant provided NBC News with data on this year’s most researched costumes in each state, and only President Donald Trump appeared — and just barely.
Trump slid from the 71st most popular search term nationwide last year to 125th this year. The term appeared in the top 25 in only one state.
The lack of interest is apparent to store owners. Betty Hermann, who has owned Novelties Unlimited in Norfolk, Virginia, for 39 years, called this year’s lull in political costume sales “weird” and attributed it to the charged attitude around politics.
“I think more people are afraid of buying them,” Hermann said of political costumes. “They think they’ll get more grief than they get pleasure.”
Fortnite and comic book heroes topped the list of the most popular Halloween costumes among adults and children, according to Google’s data.
The data listed the most-searched-for costumes nationwide and in each state and the District of Columbia in September, and it was dominated by Fortnite. The gaming and cultural phenomenon was the most-searched-for costume across the country, topping the list in 43 states and appearing in every top 25, except for Vermont.
According to the data, there is one state where Trump costumes are selling: Vermont.
Cerina Federico, manager of Rubber Bubbles Balloon & Party Supply in Barre, Vermont, was so sure political costumes would be unpopular this year that she argued when the owner wanted to stock Trump masks for the season.
“But sure enough, we’ve been selling them,” Federico said.
Fortnite’s topping the list was notable, Google News Lab data editor Simon Rogers said, because the game didn’t even register last year — it only gained mainstream popularity this spring.
“It’s a really interesting snapshot of what we care about from one year to the next,” Rogers said.
Sue Puschak, a manager at Eddie’s Trick Shop in Marietta Georgia, said the shop sold all of its Fortnite costumes in two weeks.
“We sold out of that real quick and couldn’t get it back in stock,” Puschak said. “I didn’t think that would be that hot.”
After Fortnite, superhero costumes were well represented at the top. “Spider-Man” was the second-most popular costume search, and the wall-crawler was tops in both the District of Columbia and South Dakota.
“Harley Quinn,” “Superhero,” “Wonder Woman,” and “The Incredibles” all were in the top 20.
Wonder Woman, 2017’s most-searched Halloween costume, fell to 15 on the nationwide list, and Puschak said enthusiasm for the Gal Gadot-inspired costume was on the wane this year.
“The classic Wonder Woman is still popular, but the movie version isn’t as popular,” Puschak said.
Classic costumes, including unicorn, dinosaur, pirate, and witch, all ranked highly.


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WASHINGTON — As U.S. negotiators open the seventh round of Trans-Pacific Partnership trade negotiations in Vietnam on Wednesday, the fashion industry expects the U.S. position on textile and apparel import issues will begin to take shape.
The stakes are high for the industry, which has been shifting more apparel production out of China due to rising labor, raw material and transportation costs, to countries such as Vietnam, a key player in the TPP negotiations that could receive duty free benefits in the trade accord.
The Obama administration has made the TPP a centerpiece of its trade agenda and hopes to complete a framework with the eight other countries — Vietnam, Singapore, Australia, Peru, Brunei, New Zealand, Chile and Malaysia — by November’s APEC meeting in Honolulu.
Several apparel and retail executives — including representatives from Target Corp., Nike Inc., Levi Strauss & Co., Hanesbrands Inc. and American Eagle Outfitters Inc. — are expected to be on hand in Ho Chi Minh City to offer input on their positions, according to industry sources. A coalition of apparel brands and retailers also plans to hold a workshop on maximizing opportunities in the TPP in the city on Friday that is expected to attract 100 apparel supply chain experts.
Vietnam is the second largest supplier of apparel to the U.S., with $5.8 billion in apparel imports in 2010, behind only China. The country shipped $6.3 billion in apparel and textiles combined to the U.S. last year, while China exported $38.4 billion in goods from the sector to the U.S. in that period, according to the Commerce Department’s Office of Textiles and Apparel. Apparel and textile imports from the other seven countries combined totaled $1.2 billion in 2010.
“Given that Vietnam is already the number-two apparel supplier and given that other countries such as Peru, which has a vibrant, high-end apparel industry, and Malaysia, which has some fine skilled apparel production and amazing quality yarn and textile production, and the U.S., which of course has sophisticated yarn and textile production, I think there is a tremendous opportunity for the industry in [the TPP agreement],” said a senior administration official, who requested anonymity. “Apparel brands and companies have to figure out how to take advantage of the agreement. Those opportunities will unfold as we move along and decide on a rule of origin and the way market access will occur.”
Gail Strickler, assistant U.S. Trade Representative for textiles, will head up the textile negotiations in Vietnam, as textiles was added to the schedule, according to a USTR spokesman.
It is unclear whether the U.S. will offer a proposal on a textile and apparel rule of origin, which is often a politically sensitive issue for all countries involved, during this round.
“We have some details to work out with stakeholders and some of the other countries, and we are going to start moving toward a conceptual idea about a rule of origin in this round and next [which will be held in San Francisco in September],” the official said.
Stephanie Lester, vice president of international trade at the Retail Industry Leaders Association, who plans to be in Vietnam this week for the negotiations, said, “I think this is a pretty important round on apparel, particularly because it is in Vietnam, so there are a lot of stakeholders who care most about this issue who will be there. The U.S. said it wants to get all of the text and categories [in the form of a proposal] on the table and I’m guessing that includes apparel text.”
Importers plan to push negotiators in Vietnam for a “flexible” rule of origin that does not restrict where the fabric and yarns are made in order to qualify for duty free benefits. The rule-of-origin debate has pitted apparel importers against the U.S. domestic textile industry, which is advocating a “yarn forward” rule of origin that would require apparel to be made of fabric and yarn supplied by the U.S. or the other TPP partner countries.
“When you have a rule that is more restrictive and burdensome, it discourages trade and investment from occurring,” said Steve Lamar, executive vice president of the American Apparel & Footwear Association, who will also be in Vietnam this week, adding that AAFA member companies often use U.S. yarn and fabric and forgo duty free benefits in other trade deals because the rules are so burdensome.
But a yarn forward rule is a linchpin for U.S. textile industry support.
A bipartisan group of 52 House lawmakers, many from traditional textile states, recently sent a letter to U.S. Trade Representative Ron Kirk making their support of any deal contingent upon a yarn-forward rule of origin, exclusion of certain products from tariff reduction or elimination, tariff reductions for specific sensitive imported products versus phaseouts for groups of products, and strong customs enforcement language to prevent transshipments from China.
“It makes no sense in our opinion to disenfranchise textile producers in the U.S. so Vietnam [a nonmarket economy that subsidizes its exports] can source product components from China and ship products to the U.S. duty free,” said Auggie Tantillo, executive director of the American Manufacturing Trade Action Coalition. “What we know is that the yarn forward rule of origin will create an environment that gives support to expanding our export markets.”
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)


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Mitsubishi demos 155-inch OLED TV
Using modular technology, Mitsubishi has showed off a prototype OLED television that measures 155 inches.
Mitsubishi says the display is three times brighter than a typical LED TV. Ideally, it’d be used in large sports venues and other outdoor uses, according to Mainichi Daily News. There’s no word on when the prototype will become a finished product.
Now, don’t get too excited. This doesn’t mean Mitsubishi has solved the familiar OLED problems of short life and difficulty in depositing organic materials over large surfaces. (We have, however, seen some developments in OLED technology lately, including a longer-lasting organic material from Kodak and ink jet technology for spraying diodes over larger screens.)
The modular system is actually comprised of 720 square blocks, each measuring roughly 1.5 square inches. That makes them considerably smaller than the OLED televisions that are already on the market, which top out at 15 inches, but it also means Mitsubishi could craft a TV in any size. The use of blocks also allows Mitsubishi to make a TV with curved surfaces.
A Network World video on the TV says the set lasts for roughly 20,000 hours, which isn’t bad, but home TVs should ideally last much longer. In any case, a TV like this isn’t fit for home use because you can see individual squares up close. Still, what I wouldn’t give to play a round of Halo on it.
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HelloFresh is betting on fixed prices and affordability in times of volatile food prices. A tactic that pays off, as sales rose 31.4 % in the third quarter.
“Very resilient business model”
The meal box company has had a strong third quarter, as sales grew 31.4 % to 1.86 billion euros. This was partly due to new customers: 7.5 million people (+ 8 %) now use the service. Remarkably, profitability also improved, despite high inflation: the contribution margin rose by almost a quarter to 71.8 million euros, taking the AEBITDA margin to 3.9 %. This is all the more remarkable as in the summer season, there is always a lower margin, HelloFresh points out.
While the supermarket bill can vary greatly from week to week, the meal box supplier offers reliable prices, CEO Dominik Richter explains his company’s success. Another factor is that people are more often opting for home-cooked meals instead of more expensive takeaways or restaurant visits. “Over the past years we have succeeded in building a very resilient business model”, he says.
30 % more meals
“While the cost for food is impacted by the inflation worldwide, HelloFresh has been able to remain very affordable. In fact, HelloFresh has been able to further improve its relative affordability, mitigate inflation effects and has avoided passing on every price increase it receives in full to its consumers, while keeping the procurement margin stable”, Richter said. The company has started up additional production sites – after facing capacity problems during the corona pandemic – and productivity is also higher there.
HelloFresh does want to be able to offer customers even more variety: by the end of this year, the range of meals should be about 30 % larger than a year earlier. Product innovation will therefore also remain a key focus in 2023.


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Facebook parent Meta has received green signal to buy the virtual reality content maker Within Unlimited. A federal judge in the Northern District of California sided with Meta, allowing the social media giant to acquire the VR content maker. Judge Edward Davila rejected the U.S. Federal Trade Commission (FTC) appeal that claimed the deal would reduce competition in a new market.
According to the judge’s ruling, the agency did not provide sufficient evidence to prove its case. Following the ruling, Meta in a statement said that it is “pleased” with the decision and that it will proceed with its acquisition of Within Unlimited. “We look forward to closing the transaction soon,” the spokesperson said in a statement.
Last year in December, Meta postponed its acquisition of the virtual reality studio that developed the popular fitness app “Supernatural”, till January 31. FTC took Meta to court to block the merger, alleging it to be anti-competitive. The regulator argued that Meta’s acquisition reduced competition in the potential “killer app” category of fitness apps. The new agreement was noted in a court filing with the United States District Court for the Northern District Of California.
In July last year, FTC sued Meta to stop the deal, calling Facebook a “global technology behemoth”. FTC in a statement said, “the agency alleges that Meta and Zuckerberg are planning to expand Meta’s virtual reality empire with this attempt to illegally acquire a dedicated fitness app that proves the value of virtual reality to users. ” The tech giant has previously acquired several other VR studios, including ‘Beat Games’, the developers of Beat Saber which is a popular VR rhythm game that some people use to work out. FTC has argued that Within Unlimited’s Supernatural app is a direct competitor to Beat Saber. Meta has denied the claim saying “Supernatural couldn’t be more different.”
Historically, Meta has acquired small social companies with the potential to become competitors like WhatsApp and Instagram. The regulator claimed that Meta’s proposed acquisition of Within would stifle competition and dampen innovation in the dynamic, rapidly growing U.S. markets for fitness and dedicated-fitness VR apps.


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Aprinnova is continuing to support the global transition to clean beauty with it’s second global event with Cosmetics Business called The Future of Clean Skincare on September 15. Consumers want nourished, healthy looking skin from natural products. More than ever, they’re asking about the science of skin care and many trust science-backed claims more than social media influencers. What is the most strategic way for brands to respond to this “clean wellness” megatrend? The event will brand leaders answer this question by offering clear guidance on two of the most important topics within this mega trend: the skin microbiome and CBD. Presenters and experts will give leaders a clear understanding of the latest science of the microbiome, what microbiome claims you need to know, keys to CBD skincare success, and the outlook for CBD in 2021.
Leaders can register today to watch the broadcast on September 15.


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Ford working on ‘Millennium Falcon’ of electric pickup trucks
Ford is ready to send its electric trucks into hyperspace.
The automaker has reconfirmed plans to build an all-new electric pickup at the new BlueOval City manufacturing complex it is building in west Tennessee.
The yet to be revealed pickup will be a follow-up to the F-150 Lightning that is currently on sale.
The vehicle is being developed under the name Project T3, which Ford says stands for “Trust The Truck.”
“Project T3 is a once-in-a-lifetime opportunity to revolutionize America’s truck. We are melding 100 years of Ford truck know-how with world-class electric vehicle, software and aerodynamics talent. It will be a platform for endless innovation and capability,” Ford CEO Jim Farley said.
“PJ O’Rourke once described American pickups as ‘a back porch with an engine attached.’ Well, this new truck is going to be like the Millennium Falcon – with a back porch attached,” he said.
The F-150 Lightning is available in models with up to 580 hp that can accelerate to 60 mph in less than four seconds, but other brands have upped the ante with their battery-powered pickups.
The midsize Rivian R1T offers up to 835 hp, the top GMC Hummer EV has 1,000 hp and both can sprint to 60 mph in about three seconds.
The upcoming Tesla Cybertruck is expected to have similar stats, while the 2024 Chevrolet Silverado EV and GMC Sierra EV will come in 754 hp versions.
Ford’s new truck is scheduled to enter production in 2025, and BlueOval City is being built with the capacity to produce 500,000 annually.
On Thursday, Ford said it expects to lose $3 billion on its EV programs in 2023 as it invests in new models and expanding its manufacturing capability.


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Syracuse, NY – New stores from an international retail group will swallow up a chunk of space at Destiny USA later this year, but the company isn’t done with the mall yet.
Retail Group of America, the American operating arm of Fawaz A. Alhokair & Co. of Saudi Arabia, is planning at least three more rounds of store rollouts in the U.S. in the next five years.
The group is aiming for 1,500 to 2,000 locations nationwide.
Read complete article >
Looking for more information on wholesalers and products? Check out our directory of useful links.
- Harrisburg Mall
- Snow Powder
- Payment Max
- Christopher Adams Collection
- Hermit Crab Vendor
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Growing imperativeness of information and data protection in light of increased concerns regarding cyber-crimes and leak of personal data has supported the initiation of the EU General Data Protection Regulation (GDPR) assessment tools. Superseding the Data Protection Directive 95/46/EC, GDPR facilitates harmonizing of data privacy laws across European countries in order to empower and streamline processes in organizations that are involved with personal information.
That said, GDPR assessment tools support organizations in Europe to maintain standards of information security as per GDPR compliance. Albeit a situation of anxiety among IT and related sectors owing to GDPR, high penalties associated with avoidance of the regulation has compelled organizations to adopt GDPR assessment tools. With an ultimate focus to reduce a penalty worth €20 million, organizations across the European Union are adopting GDPR assessment tools to comply with GDPR. Moreover, the GDPR is also applicable to non-EU organizations that operate under the EU premises or if they are concerned with handling an EU client. This aspect has significantly pushed the use of GDPR assessment tools in the European Union during the forecast period.
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Fact.MR, understanding the need for GDPR as a vital regulation act for enhancing security of personal data, has compiled various valuable insights in its recent publication focusing on acceptance of GDPR assessment tools across the European Union. The report on GDPR assessment tools market is projected to expand at a meteoric CAGR of 35.6% in terms of value throughout the period of forecast, 2018-2028.
GDPR Assessment Tools Market: Surging Adoption Among Large Enterprises
Albeit a comparatively lower count of large enterprises in European Union, the market for GDPR assessment tools is expected to witness a surging demand from large enterprises that are anticipated to chiefly contribute to the growth of the GDPR assessment tools market in the region. That said, sales of GDPR assessment tools among large enterprises in EU are expected to sky-rocket as compared to small and medium enterprises (SMEs) in the coming years, given their higher spending capacity as compared to SMEs. However, SMEs being larger in number are expected to pave potential growth opportunities for GDPR assessment tools market. That said, given the mandatory compliance regulations for adopting GDPR standards for organizations under the EU regulatory framework, future of GDPR assessment tools is expected to remain optimistic in the forthcoming years.
GDPR Assessment Tools Market: Germany to Reign Supreme; UK to Follow the Suit
Since the implementation of GDPR across EU, the adoption of GDPR assessment tools in Germany is expected to remain high in the coming years. Being the first EU member state to sanction the new Data Protection Act in order be in alignment with the EU GDPR, the demand and adoption of GDPR assessment tools continue to witness a significant boost in the country, making it the most attractive among other EU member states.
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On the contrary, United Kingdom has reported few of the larger and serious data breaches in the past two years. That said, GDPR assessment tools have never been more vital to organizations in the UK, with an ultimate goal to eliminate the possibilities of server hacks and data breaches across a multitude of IT firms and related industries in the country, be it a coordinated attack or a bunch of concentrated attacks on a specific industry. This factor has tremendously boosted the demand for GDPR assessment tools in the UK that is expected to showcase a higher level of lucrativeness in the forthcoming years with respect to incorporation of GDPR assessment tools.
GDPR Assessment Tools Market: Cloud-Based Deployment Platform to Speed Up
GDPR has witnessed a humongous proliferation across the EU, albeit a level of complexity associated with GDPR. That said, deployment of GDPR assessment tools using cloud platform has gained significant traction. Companies relying on cloud technology such as Salesforce and Dropbox are bound to ensure data practices that are in compliance with GDPR. Pervasiveness of cloud platform has led to the introduction of GDPR assessment tools that deliver solutions for cloud services. Consequently, increasing reliance on cloud platform has boosted the demand for cloud-based deployment of GDPR assessment tools.
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Galaxy S7: Looks Like There Are Going To Be A Total Of Four Models For Sale
For fans waiting for Galaxy S7 to come out, according to the latest leak, it looks like Samsung has an ace up its sleeve as far as its upcoming flagship smartphone is concerned.
Looks Like There Are Going To Be A Total Of Four Galaxy S7 Models That Are Going To Be Released In The Distant Future
According to a source, Galaxy S7 is going to be available in the following models:
- Galaxy S7
- Galaxy S7 Edge
- Galaxy S7 Edge Plus
- Galaxy S7 Plus
That being said, there are effectively going to be eight models being rolled out since half the number of units are going to be running an Exynos 8890 SoC, while the remainder of the units are going to be running Qualcomm’s Snapdragon 820, which has been manufactured on Samsung’s newest 14nm FinFET process. It will be a very interesting launch event, since this is possibly the first time we are seeing that the company is going to be rolling out four different models in a single announcement period. The ‘Plus’ versions of the smartphone are expected to sport a screen size of 6 inches, according to the dimensions used by third party case manufacturers.
It looks like we will finally get to see the return of the MicroSD card slot, which was a critical feature that was sorely missing from all of the high-end smartphones that Samsung announced in 2015. Hopefully, the South Korean tech giant would have more sense to cater to the masses instead of looking out for its own pocket. One huge performance difference in our opinion would be to greatly modify its TouchWiz interface.
The interface has been severely criticized of chewing up a significant portion of core system resources such as processor speed and RAM, and while Samsung has done well in the hardware department, the tech firm still needs to prove itself extensively in the software department. Apple knew this all along; hardware can never do well without software, which is why the California based tech giant used all of its resources to create an optimized mobile and desktop platform.
If Samsung can mildly improve its interface, it will finally be able to see an influx of sales that the company saw when it released devices like Galaxy S3 and S4. Galaxy S7 is also expected to feature the same camera sensor tech as Sony’s Xperia Z5 lineup so in addition of delivering raw performance, the handset is most likely going to make its mark in the smartphone photography section as well. Let us hope that the company awes us with the something completely new. What are your thoughts on the upcoming flagship smartphone? Let us know your thoughts.


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AmBank in collaboration with Maxis have introduced mTAP via Payments Network Malaysia Sdn Bhd (PayNet) a secure contactless payment solution that uses a mobile device as a payment acceptance terminal to process debit and credit card transactions.
The solution is a viable and cost-effective option to enabling more small and medium-sized enterprises (SMEs) to accept card payments.
The Group Chief Executive Officer of AmBank Group, Datuk Sulaiman Mohd Tahir said, the bank is committed to supporting the SME ecosystem by leveraging on the fast-changing era of digitalisation.
“We saw that the consumer market, which is now dominated by Millennials and Gen-Y are expecting smarter, faster and more accessible financial services.
“Hence, this is one of our efforts to ramp up the next wave of digital initiatives for our valued merchants and customers,” he said in a statement.
Meanwhile, Maxis’ Chief Executive Officer, Gokhan Ogut said, Maxis has been empowering SMEs to adapt to the rapidly evolving digital landscape by incorporating essential digital solutions and reliable connectivity for their operations.
“With our continued partnership with AmBank, we look forward to not just increasing digital adoption across this important segment, but to further strengthen their position within the digital ecosystem.
“This is driven by our commitment to bring together the best of technologies to help people, businesses and the nation to Always Be Ahead in a changing world,” said.


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In recent years, some women who used talcum powder as part of their daily routine have developed ovarian cancer. Presently, more than 1000 women and surviving family members have filed suit against Johnson & Johnson, the makers of Johnson's Baby Powder and Shower to Shower. In 2016, juries in Missouri ordered Johnson & Johnson to pay $72 million and $55 million respectively in cases involving long-time talc users who developed ovarian cancer.
For decades members of the medical and scientific communities have published studies linking talcum powder use and an increased risk of ovarian cancer. While the exact reason for this link is the subject of ongoing research, many believe talc particles enter the vagina and migrate to the ovaries. While some scientists do not believe this connection has been proven conclusively, others believe there is a strong link between talc usage and a heightened ovarian cancer risk.
For more than a century, Johnson & Johnson has manufactured and sold talcum powder. This product is sold as Johnson's Baby Powder and is used both by parents of young children and adults. Baby powder is composed primarily of talc. For decades, many studies in the medical community have linked the long-term use of talcum powder and a higher risk of ovarian cancer.
Despite two multi-million-dollar verdicts this year against Johnson & Johnson for its talc products causing ovarian cancer in women who used it for feminine hygiene, the company continues to sell these products without safety warnings.
In a significant pre-trial ruling (Tuesday, May 10, 2016), a federal district court judge found in favor of plaintiffs in the national class action case against Pella windows for selling defective windows to thousands of customers over a period of years.
Volkswagen agreed (on Thursday, April 21, 2016), to repair or buy back nearly 500,000 diesel cars in the United States that are equipped with illegal emissions software.
People who bought certain kinds of flooring from Lumber Liquidators "are potentially at a greater risk of cancer than previous thought," according to a warning from the Centers for Disease Control (CDC), perhaps as much as three times higher.
Kenneth Feinberg, an attorney internationally recognized for working out payments to victims of the BP Gulf oil spill, General Motors ignition switch scandal, the 9/11 victims' compensation fund and other high-profile cases, has been hired by Volkswagen to work in a similar capacity to resolve thousands of lawsuits involving its emissions scandal.
A federal judge in the Northern District of California has been assigned to handle the multidistrict litigation (MDL) involving the Volkswagen emissions scandal.


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IFA 2012 – BERLIN. At the end of 2011, 25% of all German households owned a DVB-T receiver, according to Statistische Bundesamt (Destatis), the state agency for statistics.
The Dutch broadband market grew by around 55,000 connections or 0.9% during the second quarter of 2012, to a total 6.49 million lines, according to Telecompaper.
IMS Research forecasts that in 2017, 27% of OTT video transactions will be initiated via fixed connected consumer electronics devices within the home, accounting for 46% of world OTT market revenues generated that year.
The satellite market posts solid growth boosted by video services and emerging regions, according to research from Euroconsult.
A recent connected TV survey reveals short-form video and streamed TV show viewers prefer ad-supported content over subscription or Pay-per-View.


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Soul food gets healthy
By Phreddy Wischusen
The Michigan Citizen
Detroit Vegan Soul (DVS) celebrates the grand opening of their brick-and-mortar café Sept. 28 from 3-7 p.m. The event will feature live music, a ribbon cutting and a free tasting of some of DVS’ most popular dishes.
DVS began in February 2012 as a meal delivery and catering company. Its founders say they started the business to “make good, healthy food accessible to everyone and break the cycle of diet-related diseases in Detroit’s communities.” The REVOLVE program, which funded the recent Light up on Livernois event, connected DVS with the space at 8029 Agnes.
DVS makes “comfort foods” from ingredients that are fresh, mostly organic, and completely plant-based with no GMOs, additives, preservatives, refined flours, sugars, dairy, eggs or animal by-products. “We’re showing people you don’t have to miss out on flavor to be vegan, and you don’t even have to be vegan or vegetarian to enjoy good vegan soul food,” said Erika Boyd, co-owner and chef.
Boyd challenged myths about the African American diet. “African Americans are not strangers to healthy eating. Traditionally, soul food is largely comprised of vegetables, grain and legumes. Growing your own food, having gardens, tending to the soil are things African Americans have traditionally done.”
Co-owner Kirsten Ussery reminded the Michigan Citizen that Africans brought many of nutritious staples of soul cooking from Africa, including yams and collard greens. “Only as foods have become more processed has some soul food become unhealthy,” she says. Ussery hopes opening this permanent location will create “opportunities for learning or re-learning around food.”
“Our cultural food is soul food,” says Boyd. She adds they chose to make their business about soul food, because “all Americans can relate to comfort food, whether they are Black or white. We wanted to remove the stigma from vegan food. As soon as you say Soul food people know its going to be packed with flavor.”
Starting Sept. 28, restaurant hours will be Wednesdays to Saturdays 11 a.m.-9 p.m. and Sundays from 9 a.m.-7p.m. The menu and more information can be found at www.detroitvegansoul.com


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SAN FRANCISCO (MarketWatch) — Activist value investor Bill Ackman of Pershing Square Capital Management has acquired a big stake in Procter & Gamble and may be looking to shake things up.
Midday Thursday, P&G PG shares rose 4% to $64.12 after the Federal Trade Commission granted two Pershing entities early antitrust approval for an unspecified transaction related to P&G.
Investors have to submit a Hart-Scott-Rodino Act filing with the FTC if they wish to acquire voting securities in a company worth at least $50 million.
This suggests Pershing likely acquired its P&G stake using options or derivatives that can be converted to common stock. Pershing has done this with its past investments.
Pershing, which runs a concentrated portfolio of 12 companies, owns a stake in P&G valued at close to $1 billion, a person familiar with the situation told MarketWatch. That would put Pershing’s stake at less than 1%.
Officials at Pershing weren’t available for immediate comment. Pershing didn’t own P&G stock based on its most recent filing with the Securities and Exchange Commission that detailed the stocks it held as of March 31.
P&G, maker of well-known brands Tide detergent and Crest toothpaste, has cut its forecast three times in the past year as it’s found being a seller of premium-priced products difficult in a choppy global economy.
P&G shares are down 4% since Jan. 1. That compares to a 3% gain for the Dow Jones Industrial Average, of which P&G is a component.
Value investor Jeff Auxier, who runs the Auxier Focus Fund AUXFX, said he’s been buying P&G shares over the past 18 months in hopes the company would sell off some of its well-known brands — a move he thinks would re-energize P&G and help the company grab more sales in emerging market economies.
“Procter should be doing better,” Auxier said. “There are a number of good brands within Procter that can be freed up. They need to start spinning some of them off.”
Javier Escalante, analyst at ConsumerEdge Research, said in a Wednesday research note P&G could divest some of its toilet paper, paper towel or facial tissue products sold in the U.S. P&G makes Bounty and Charmin.
Ackman has invested in large brand-name companies that later split themselves up. A recent example is Kraft Foods KFT, which plans to separate its U.S. grocery and snacks business before the end of the year.
Ackman is no stranger to consumer staples companies. He prefers predictable businesses that generate solid cash flows and sell branded foods. In the past, Pershing has owned shares of Cadbury and Nestle. The fund’s current portfolio includes Beam, Burger King and J.C. Penney.
When it comes to P&G, Pershing may seek to acquire a board seat or press P&G Chief Executive Bob McDonald to make changes. Recently, McDonald has faced criticism from analysts for sluggish sales growth and not cutting enough costs.
It’s not clear if Ackman will make a full-court press soon.
Pershing just wrapped up a proxy contest at Canadian Pacific Railway (CP) , where it won seven board seats and helped install a new CEO at Canada’s No. 2 railroad.
Ackman also helped spearhead changes at J.C. Penney JCP , another sizable Pershing investment. But J.C. Penney has struggled to implement its game plan, and shares of the department-store chain have plunged 43% so far this year.


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(Pocket-lint) - Sony used Mobile World Congress to announce the Xperia 1, Xperia 10 and Xperia 10 Plus, but they launch at a show where 5G devices and foldable phones are all everyone is talking about.
The company briefly mentioned 5G during its press conference, but there was certainly no talk of a foldable device, despite rumours suggesting Sony was working on one.
A prototype of Sony's 5G device was available on its stand and Qualcomm's stand, however. Now, the device on both stands was in a casing and the Qualcomm model was simply running a looped video so no details were available as such. The prototype on Sony's stand had a speed test gauge, though it was a little temperamental.
Both prototype models highlighted the use of the Qualcomm Snapdragon 855 chipset, which would have been a logical assumption given the device was on the Qualcomm stand and Sony often opts the company's chipsets in its devices. It will of course have the optional X50 5G modem too as it is a 5G handset. The prototype also showed a 21:9 aspect ratio, like the Xperia 1 offers with a slim bezel at the top.
It is being known internally as the "AG-1" as we were told by Sony's Adam Marsh, who is part of its global communications team. Marsh told us the device was not a "commercial product" and instead, it is a "Product [the company] is using in trials with certain key customers who are using it to do consumer testing, as well as network testing and experience testing".
Marsh also told us it was not just a sub-6 product, but a 5mm wave product too.
He explained the design wasn't representative of the 5G product that would be commercially available from Sony, instead saying the company was "trying to understand [what would happen] if you take an antenna away from a certain place and make it thinner, [and] what the consequence of network connectivity [would be].
Marsh added: "At the moment, from a rollout point of view, 5G just isn't there. In 4G, you can still [get] more speed in more places than 5G, at the moment."
He followed with: "We are massively involved in 5G, just not launching anything commercially just yet. You can see we have a product so in the near future."
When the Sony Xperia 5G device will be available is therefore not yet known, though we would be surprised if the company didn't offer a 5G smartphone at IFA 2019.
Other brands, including LG and Samsung have put their 5G devices at the top of their smartphone ranges, which the Xperia 1 is for Sony. If Sony follows suit, perhaps Sony's first 5G smartphone will launch as the Xperia 2 in September?


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The tech news cycle has been utterly dominated by all things Apple these last few weeks, but it’s an almost 40-year-old piece of Apple hardware that’s grabbing everyone’s attention today. This week, a 1976 Apple-1 computer, which retailed for $666.66 back in the day, was sold at auction for a whopping $905,000.
Bonham’s History of Science, a U.K.-based auction house, sold the equipment to curators at the Henry Ford Museum in Dearborn, Michigan. In a statement released by the museum, president Patricia Mooradian says, “We look at how the items will expand our ability to tell the important stories of American culture and its greatest innovators [and] Steve Wozniak and Steve Jobs put technology directly in the hands of the people with the creation of the Apple-1, completely altering the way we work and live.”
More specifically, the museum’s “new” Apple-1 is one of only 50 originally produced at the time and is still in “operational condition” nearly 40 years later. Once the Henry Ford Museum works out a way to safely transport the computer from New York City to its new Midwestern home it will go on permanent display, no doubt freaking out Millennials for years to come.


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Cyberpunk 2077 may be having a rough launch period fraught with controversy after controversy, but that hasn’t stopped the game from attaining strong financial success. Developer CD Projekt RED reported that Cyberpunk 2077 sales have reached more than 13 million as of December 20th, and that’s even accounting for refunds that have been reported back by digital storefronts and physical retailers. The only refunds that have yet to be included in this are ones requested directly through CDPR.
The announcement was made as part of an official release for investors, hence the very legal and corporate sounding wording of the below statement. The release was made to inform in case of “potential impact on investment-related decisions.”
This figure represents the estimated volume of retail sales across all hardware platforms (factoring in returns submitted by retail clients in brick-and-mortar as well as digital storefronts), i.e. the “sell-through” figure, less all refund requests e-mailed directly to the Company by the publication date of this report in the framework of the “Help Me Refund” campaign.
Shortly after its launch on December 10th, CDPR said that Cyberpunk 2077 had 8 million preorders before it even released, and had made enough money to already be profitable for the company. This means that, less refunds, Cyberpunk 2077 has sold 5 million additional copies since its launch. A breakdown of which platforms those sales were made on is not available.
Those sales numbers are in the face of a turbulent release, beginning with the obfuscation of the game’s performance on last-gen consoles. This led to a number of disappointed players who felt they’d been deceived by CD Projekt RED, and the company promised refunds in its apology to players, while also promising to fix the problems. Unfortunately, the developer didn’t have refund agreements in place with the platform store fronts, which led to players being denied refunds by Sony.
Eventually, Sony relented and started offering full refunds to players, but also pulled Cyberpunk 2077 from the PlayStation Store entirely and indefinitely. It’s not clear exactly why Sony removed the listing, but evidence points to a strained relationship between Sony and CD Projekt RED following the developer’s handling of the launch issues, as opposed to being removed for quality. After all, CDPR sent upset fans flooding to Sony’s support channels to demand refunds without consulting them first.
Xbox and multiple physical retailers eventually followed suit, offering full refunds for Cyberpunk 2077, though it hasn’t been pulled for sale entirely anywhere else.
Following multiple issues with the game—including a known problem where any save file over 8 MB will become corrupted, and numerous bugs and shortcut gameplay features—investors have been exploring class action lawsuits against CDPR. The above announcement of sales numbers, along with clear information that it includes refunds, is intended to ward off potential issues with disappointed investors, particularly after CDPR’s stock saw a massive drop that resulted in a loss of over $1 billion for its owners.
It’s unlikely we’ll ever know the exact number of refunds that were processed for the game, or how many people are disappointed but simply waiting for the proper next-gen version, which will be released free for both Xbox and PlayStation players. Still, 13 million copies sold is nothing to scoff at, showing the immense staying power CD Projekt RED and the hype for Cyberpunk 2077 has, regardless of broken trust.
Efforts are now being made to fix the various issues with the game, though our own Cyberpunk 2077 review noted a number of problems with the game’s core systems themselves, which failed to match the promise of this revolutionary game that Cyberpunk was marketed as. Are you one of the 13 million copies being reported by CDPR? Do you plan to get a refund, or wait until the game gets fixed? Perhaps you’re just enjoying the game as it is? Let us know in the comments below.