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Several years ago, John Deere was one of the earliest brands to give the digital component of its equipment a strong emphasis. Without a doubt they were ahead of all the major brands, which have since recognized the growing importance of that technology.
Now, Deere is again getting ahead of curve by using the data that can be captured and shared through its digital JDLink system for another unique purpose: It’s giving customers in Europe fuel-use and uptime guarantees.
Deere can use JDLink to keep track of customers’ tractor performance and monitor their fuel consumption. With that data, the company can offer buyers a fuel-use guarantee.
Buyers of 6R, 7R and 8R tractors in Europe will actually get a money-back assurance that their tractors will meet fuel-use targets
“Customers will be refunded during the first full year of ownership if total fuel consumption has exceeded the John Deere target level,” reads the program announcement.
“And that’s not all — if the operator achieves a higher fuel efficiency than the target level, owners will receive an efficiency bonus equal to twice the cost of the fuel saved.”
“If we don’t meet it, we pay you back,” Thomas Höglmeier, segment manager for John Deere, explained to journalists during the Agritechnica machinery show in Hanover, Germany. “We measure it with our telematics. Fuel represents 50 per cent of (European) contractors’ costs.”
Contractors (or custom operators as we’d call them) are a big target customer group for Deere over there. To lure them over to the green brand, this isn’t the only guarantee Deere is willing to make. It will also ensure tractors keep working and not go down for repairs.
“Arable farmers aren’t so much focused on fuel,” Höglmeier said. “They focus on uptime.”
To qualify for that uptime guarantee, buyers will have to opt for a full maintenance contract. But that’s one more aspect that allows owners to know exactly what their yearly equipment costs will be. And mechanics will be around to make periodic inspections to keep machines going.
“Dealers are doing in-field visits optimizing our machines,” added Höglmeier.
If a tractor does go down, the dealer will have to provide owners with a backup replacement to keep farm operations going.
Deere claims its engineers have done so much testing on individual components, that they can predict the typical life cycle of many different parts. Customers who buy the service agreement will see local dealership mechanics coming out to replace parts based on that schedule, even if they’re still working.
“We can predict part life and replace them just before they fail,” said Deere’s Georg Lanschied during the same presentation. “We’ve tested this a lot so we can be sure we’re not replacing parts for no reason.”
So far, this guarantee has only been announced in Europe, but there is a strong likelihood it will soon appear in Canada and the U.S. as well.
And just like this announcement, Deere also debuted two new 6R Series tractors at Agritechnica for the European market. The 6230R and 6250R offer 230 and 250 horsepower, respectively, pushing the top end of the 6R lineup significantly from its current 215-engine horsepower limit.
Like the guarantee programs, the new 6Rs are expected to soon appear on this side of the Atlantic.
These models offer a high horsepower-to-weight ratio of 31 kilograms (68 pounds) per horsepower at their base chassis weight of 9.3 tonnes, but they can be ballasted up to 15 tonnes for heavy fieldwork. That pushes the ratio up to over 130 pounds per horsepower to improve traction.
These models use an updated version of Deere’s AutoPowr transmission. When roading, the AutoPowr achieves a 50-km/hr-road speed at just 1,630-engine r.p.m. Or it will do 40 km/hr at 1,300 r.p.m. to save fuel. Power comes from a 6.8-litre PowerTech PSS six-cylinder diesel with dual turbochargers. Deere claims this engine-transmission combination and its “advanced DPF and SCR” emissions systems offers a two to three per cent improvement in total fluid consumption.


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The new proposals on electricity prices would go even further than plans made in March. “A temporary extension of the scope of regulated retail prices could be envisaged to cover also small and medium-sized enterprises,” says a draft communication on energy prices, which the Commission plans to present with the REPowerEU package on Wednesday.
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‘Crazy, screaming noise’: S.C., N.C. fireworks fans flooding York County
By David Thackham June 30, 2017
FORT MILL -- Frawna Peterson sees herself as a part-time psychologist in her role as manager of House of Fireworks on U.S. 21 in Fort Mill Township.
And this week, Peterson is putting her psychology skills to the test almost full time.
Firework enthusiasts from North and South Carolina are flocking have flocked to York County in search of the best pyrotechnic supplies ahead of Tuesday’s Fourth of July celebration.
When Peterson is talking with a new customer, she’s constantly trying to get an understanding of how experienced they are with an explosive element like fireworks.
Some, she says, are veterans who swing by her store each and every year to create bigger and better effects for their families and friends.
Others need a lot more education before they can handle such a responsibility.
“Some of the questions people ask is like, ‘This is what you hold in your hand?’” Peterson said. “You don’t ever hold anything in your hand. Safety plays a big, big role in making sure the fireworks industry stays operable. It’s just like a firearm, it’s just like driving a car. You don’t hear anybody wanting to make recalls on cars because you have an idiot that’s a driver, you know what I’m saying?”
North Carolina law states residents can’t buy or set off any fireworks that leave the ground. That gives shops just over the state line an advantage on sales. North Carolina residents ritually head south down Interstate 77 before each Independence Day to pick up the best deals.
There are three main brick-and-mortar fireworks stores within a half-mile of each other near Carowinds, which straddles the state line.
Mary Murphy, who works at Davey Jones Fireworks, says store employees have to be quick on their feet because of the increased traffic each holiday season.
“We’re constantly ringing people up because they want to be in and out quickly,” said Murphy, who says people have started filling the store since June 24. “It’s a lot of hard work in a little amount of time. We’re here from early morning till late night, and it’s very hard work.”
Several area store managers say customers have become much more savvy with technology, often creating choreographed performances with the fireworks, using Bluetooth technology or iPhone playlists.
Red Rocket Fireworks sells a “Firefly” mobile launching system, which can sync with lights and music to create a personally designed show.
“It’s bringing even more technology into fireworks displays,” said one manager at the shop. “We’re helping people celebrate, and we’re having a good time with them.”
It’s stressful. It’s exciting. People are getting more educated
Frawna Peterson, House of Fireworks
Summer is boom time for fireworks sales. According to the American Pyrotechnics Association, a total of $1.17 billion was spent in 2016 on fireworks, either by regular consumers or for large-scale displays.
“It’s stressful,” Peterson said. “It’s exciting. We like to personalize each person’s show. People are getting more educated. At one point in time, they would put it out there and shoot it, but now, people are using laser igniters, they’re timing everything, they’re getting into how the tempo is. It’s becoming more of a true display.”
All shops preach fireworks safety. Popular fireworks maker TNT Red, White & Blue recently recalled 36,100 units of a product in four states after receiving reports that some of their smoke devices exploded when lit.
None of the shops The Herald visited on Thursday said they carried any TNT merchandise.
POPULAR FIREWORKS MAKER TNT RED, WHITE & BLUE RECENTLY RECALLED 36,100 UNITS OF A PRODUCT IN FOUR STATES AFTER RECEIVING REPORTS THAT SOME OF THEIR SMOKE DEVICES EXPLODED WHEN LIT.
Several managers say they receive customers from the Carolinas, the Southeast, and even other countries.
“We have a lot of people who come here, check everybody else’s prices, and come back and buy,” Murphy said. “There’s so many people coming, the demand is constant.”


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New Publix near Trinity Catholic to open in 4th quarter of this year
Published: Tuesday, June 10, 2014 at 5:13 p.m.
Last Modified: Tuesday, June 10, 2014 at 5:13 p.m.
The new Publix supermarket at Grand Oaks Town Center is expected to open the fourth quarter of this year, according to Publix officials.
Brian S. West, media and community relations manager for Publix Super Markets Inc., said in an email Tuesday that the new store, like many of the other Publix stores in the area, will have a pharmacy and liquor store.
West indicated that the Publix at Paddock Park Village will close, but none of the employees at that State Road 200 location will lose their jobs. He said Publix has never had a layoff in the company's 84-year history.
"Those associates will be offered positions at other locations, and some at the new location," West responded.
The project is moving along.
"We are right on schedule," project manager Ike Keene of Elkins Constructors Inc. said Tuesday. "For a while there we had a little more rain than normal. It's a pretty tough site with the clay. We had little setbacks earlier, but we picked up some time now that it's been a little drier."
Clay soil is dense and tends not to drain well.
Keene said he expects to finish the project by the end of September.
Tye Chighizola, the city of Ocala's growth management director, said the Publix may open Oct. 1.
"I think that's the date they were shooting for," Chighizola said.
The 45,600-square-foot market is the anchor store at the Grand Oaks Town Center development, located at the corner of Southwest 42nd Street and Southwest 27th Avenue, just north of Trinity Catholic High School.
Ocala 42nd Street Commercial, which is part of Leon Ocala Holdings, owns the center.
Michael Shealy, who handles the real estate for Leon Ocala Holdings, said they are in discussions regarding one of the four out parcels and expects to have a number of the 12 in-line spaces adjoining the Publix signed within the next 30 days.
Konover South is also working on leasing the space. The Konover website indicates that, in addition to the 1,400-square-foot Publix Liquor store, for which a permit has been pulled, a 1,610-square-foot nail salon, a 1,400-square-foot pet shop and a 1,400-square-foot Chinese restaurant are the entities with which they are negotiating as possible tenants.
"There's a lot of interest there," Shealy said. "We have been kind of selective. We really want to make it a class a shopping center. We have done a lot on the facade, over and above what Publix normally does. We are sensitive to the location it's in, and we want it to be one of the nicest centers in Ocala."
The 14 acres that include the Publix, the in-line shops and the four out parcels are Phase 1 of the Grand Oaks project.
Phase 2 is a 53.71-acre multi-family residential complex of 474 units north and east of the shopping center. Phase 3 is a 30,000-square-foot professional/medical office complex on 3.5 acres at the northwest corner of the site.
Contact Susan Latham Carr at 867-4156 or email@example.com.
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PUTTING ON A SHOW: ANNAH STRETTON, SEEN WALKING THE RUNWAY DURING THE FINALE OF HER NEW ZEALAND FASHION WEEK SHOW LAST YEAR, IS ONE OF FIVE INTERNATIONAL DESIGNERS TO BE SELECTED TO SHOWCASE AT THE LONDON FASHION WEEK OPENING EVENT.
Local fashion designer Annah Stretton has been selected as one of five international designers to showcase her collection at this year’s London Fashion Weeks opening event – Splendours of the Commonwealth 2014.
At the September event, Stretton will be showcasing a 10 piece Avant Garde, bespoke bridal collection that exhibits an extreme colour palette of orange, purple and turquoise.
“What a wonderful opportunity to showcase the frocks that we love to create – considering so much of the business that we do daily is based around wedding’s and occasion, this is the perfect forum and platform the get our Avant Garde juices flowing” says Stretton.
The event will take place at one of exclusive London hotel, The Mayfair, and proceeds will be donated to the Commonwealth Countries League Education fund (CCLEF), a secondary education sponsorship theme for girls. Stretton is donating a $2500 bridal frock.
The cause fits well with Stretton’s own foundation that has launched RAW, a charity thats works with victims of domestic violence to help them move forward and into education through a mentor scheme.
“For me not only is it wonderful opportunity to showcase on a global platform, alongside a lot that is happening around London fashion week and the fashion eyes of the world will be on it, it is very much a cause that is connected with the work I intend to do going forward,” she said.
Stretton refuses to shy away from being a part of a larger cause despite her commitment to the animal rights movement causing controversy last year when she was photographed posing with a bear skin.
“Would I do that again? No. Does that take away from my absolute passion to support the animal rights causes? No. People make errors of judgement. And that is all they are. It doesn’t take away from the essence and heart that is the Annah Stretton brand. It is a moment in time,” she said.
There was a large fall out on social media after the photo was published, and Stretton believes the response was disproportionate.
“[Social media] is a beast that has been created that allows some very positive and very negative things to happen. You just have to put that in perspective and roll with the punches,” she said.
Stretton will be represented in London by her daughter Sam, as she prepares for New Zealand Fashion week.


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Intellect Design Arena Ltd., a digital technology product provider across banking and insurance, announced that Citizens Development Business Finance PLC (CDB) has gone live with Intellect’s Digital Face, an omni channel solution catering to demands of the modern customers.
CDB will now be able to offer digital products for their retail customers. CDB customers can now enjoy seamless omni channel digital experience across internet and mobile.
Digital transformation is not just moving from traditional banking to the digital world. It is about how financial institutions engage with the customers, to enable long term and beneficial relationship. In the recent past, the decibel levels around the word ‘digital’ have been deafening. From the days of computer history and the use of ‘digital’ as a counterpoint to ‘analog’, digital today has assumed a whole new significance.
The Intellect Digital Face product is on the proprietary Digital Face Tool Kit having one single code base for the channels using CORA (Configure Once Run Anywhere) framework enables the financial institutions to launch new products and services across multiple channels and devices in one go with customised segmentation.
Commenting on the implementation, Imdaad Naguib, Sr. Deputy General Manager IT and e-commerce, CDB, Sri Lanka, said: Our customers are increasingly adapting the digital lifestyle, and their expectations from us have set standards for our digital transformation. With Intellect Digital Face implementation, CDB will now be able to provide a highly secured, seamless experience across all channels to customers with 60+ readily available apps.
“Digital Face empowers CDB to promote right product to right customer at the quickest time, thanks to in built segmentation features. It also gives flexibility to develop product and market at the quickest time possible. CDB will now notably reduce its total cost of ownership (TCO) with unified Digital Channel solutions. With the evolution of technology and increased usage of mobile phones in Sri Lanka, we are sure that with Intellect we are in the forefront of digital transformation. This implementation in just four months time helped CDB to establish an edge in the market. The team has done a fabulous job in understanding CDB’s requirements right from beginning to end.”
“We are extremely delighted to be a part of CDB’s Digital Transformation journey, said Rajesh Kuppuswamy, Head – Digital Banking, Intellect Design Area Ltd: “Intellect Digital Face enables financial institutions like CDB for an omni channel digital transformation by leveraging CDB’s existing assets. With strong segmentation and personalisation driven by a rich repertoire of retail banking apps that integrate easily with the existing technology landscape, we are upbeat that Digital Face will act as a clear differentiator in digital offerings to its customers.”
K. Srinivisan, President Emerging Markets, Intellect Design Arena, said: “With the Digital Face going live at CDB we are delighted to be the partner for CDB to drive their digital transformation agenda enabling the financial institution with an entirely new and innovative seamless OMNI channel banking experience to their customers. We are also happy to have been successful in expanding our footprint in Sri Lankan market.”


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Splendid, Sustainable Styles
A look at the out-of-the-box, sustainable fashion collections showcased at the Green Fashion India Conference 2018
for their expression, these communities have played a monumental role in making fashion a medium of artistic expression that has garnered tangible value and validation all over the world. And in light of the recent legal changes to their status, they are now capable of being open and free in a society that has its traditions rooted in acceptance.
NEW POSSIBILITIES FOR CREATORS
In the immediate aftermath of the decriminalisation of Section 377, numerous public figures spoke out publicly in support of the change. Veteran fashion designer Suneet Verma spoke out in support of the verdict, as he had been forced to marry his partner Rahul Arora outside of India for fear of legal prosecution.
“To a large extent, today’s verdict has kind of restored my faith in the Indian judicial system. I think the real democracy in the country will only ever be judged by the security and safety of all citizens. Considering we are proud of our country for being the largest democracy in the world, we really need to kind of live like that as well,” said Suneet Verma in an interview with Indo-Asian News Service (IANS). He added, “Everybody, whether they are daily workers or someone living in a palace, everybody’s right should be rightly their own, which makes them feel secure and proud citizens of the country.”
Similarly, Padma Shri award-winning international fashion designer Wendell Rodricks told IANS, “At last, future generations of Indians are freed from the tyranny of Section 377. And at 58, I am no longer a criminal. God bless the wisdom of the Supreme Court of India. We are living through a historic time and judgment.” Numerous other creative people such as jewellery designer Akaash Aggarwal and fashion designers like Manish Malhotra, Gaurav Gupta and Rohit Bal also spoke out in celebration of the change, with Bal posting on social media, “Today’s judgment heralds a new dawn for personal liberty and is a major victory for the LGBTQ community that has been fighting this battle for freedom.”
It is hard to imagine how many people from all backgrounds and circumstances have remained hidden for fear of persecution. Since 2009, when the first legal battles for equality found footing, thousands of people, young and old, have figuratively ‘come out of the closet’ and made their desire for equality known. Many influential figures in the fashion and entertainment world have made it possible for mainstream Indian society to gain a better understanding of this minority in that time.
And now, as the legal system has done justice to this group, the fashion industry has a higher chance of unleashing its pool of talent to its full potential, unhindered and unashamed to pursue their careers while being their true selves. We can not only expect resurgence in creative output but also a wave of new talent that is no longer bound up in uncertainty and fear. The typical trend of talented individuals leaving the nation and settling abroad, taking their unique talents and abilities
away from the motherland, was akin to a ‘forced brain drain’. In light of the current changes, there is a whole new network of opportunities that is now open, helping this talent to return and the new generation to work to grow even further.
NEW POSSIBILITIES FOR BUSINESS
While for most, the rescinding of Section 377 may appear to be a social cause with no business impact, they could not be more wrong. The law posed a significant hurdle for several industries such as hospitality and tourism, entertainment, and fashion. Moreover, the law also negatively impacted global perceptions about India’s societal stability, disincentivising numerous investments from international players. By changing the law and accepting the natural diversity of all people, Indian businesses are now rejoicing as well.
According to research from the World Bank, India was losing nearly 0.1-1.7 per cent of its GDP in 2012 due to this discriminatory law. This represents over US$30 billion in value represented by the LGBTQIA+ community in India, a figure that is only rising over time. Marketing agency, Out Now Consulting, estimates that India is home to nearly 60 million LGBTQIA+ consumers who collectively represent nearly US$113 billion in spending power. And for the longest time, they
WE CAN NOW EXPECT THIS CONSUMER DEMOGRAPHIC TO HAVE MORE INFLUENCE IN THE FASHION BUSINESS.
have not been catered to as consumers on their own terms due to the nature of the law. We can now expect this consumer demographic to have more influence in the fashion business, driving trends, styles, products and fashions in new yet unknown directions.
In the fashion industry, this enthusiasm represented far more than others, as not only had a new segment of customers become available for queer-centric fashion, but it also started the movement towards a fashion aesthetic that was genderless, queer, and transformative–a significant global consumer trend already in motion. In fact, beyond fashion, many other businesses and brands such as Godrej, Google, IBM, Tata Group, Cafe Coffee Day, Facebook, Flipkart, Microsoft, Swiggy, etc. have voiced their support for this change.
This not only indicates a holistic change that is coming up in the business environment but also the eagerness of businesses to engage with it for growth and profit. As the influence of business further acts to normalise the perceptions and clear the misconceptions surrounding the LGBTQIA+ community, we will not only see rewards in the national economy but also in the very nature of our society. And this is a change that will be far more valuable in the long run than anything else.


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Chinese firms offer $1.23 bn for Norway's Opera Software
A group of Chinese Internet firms, including Qihoo 360 and Beijing Kunlun Tech Co, has made a cash offer of NOK 10.5 billion to buy Norway's browser firm Opera Software.
Idea Cellular partners with Opera Software for thrifty Internet access
Idea Cellular has partnered with online browser Opera Software to offe...
Vodafone partners with Opera software to launch Opera Web Pass in India
The Opera Web Pass will enable Vodafone to replace complex, KB/MB-bas...
Bharti Airtel, Opera Software enter global pact
Under the pact, Airtel will offer co-branded Opera Mini browsers to its customers across India and South Asia, the companies said in a joint statement.
Opera Software bets big on digitisation wave in India
Betting big on Indian government's digitisation drive, Norway-based Opera Software today said it looks to partner with set top box manufactures.
Idea Cellular joins hands with Opera Software, Quikr to offer sponsored data usage plans
Under the arrangement, Idea customers will get free 10 MB data usage for an entire day, sponsored by Quikr through Idea Web Pass on Opera Mini browser.
With MIUI7, Xiaomi gives a major software upgrade to its smartphones
Chinese smartphone maker Xiaomi has announced MIUI 7, a major user interface upgrade for its smartphones naming its custom layer of tweaks and features as MIUI.
India now biggest market for Opera Mini phone web browser
“It’s a mobile-first market and there are a lot of people here who haven’t been connected to data,” Boilesen said.
Low cost devices make Android affordable
Blurring the lines between feature phones and smartphone, Indians are switching to entry level smartphones over the plain-vanilla feature phones.
Opera Software looks to double subscribers to 10 mn
Noted internet browser firm, Opera Software of Norway that recently launched operations in India, is poised to double its subscriber base in the mobile space to 10 million over the next six months.
Opera is the oldest browser, and it is still surviving: Jon Tetzchner, founder, Opera software
Jon S Von Tetzchner and a colleague, Geir Ivarsoy in 1995 founded Opera Software and launched their first public browser, Opera, an year later.
Idea Cellular inks pact with Opera Software to provide super mobile browsing experience
With Opera's cross-platform UI framework, operators can deploy a consistent experience, look, and feel across their product offerings.
Opera partners seven new handset makers in India
Opera Software said it is focusing on further expanding its India business to drive growth in the South Asian and has partnered with seven handset makers.
Opera inks pacts with mobile makers to pre-install web browser
Opera Software today said it has signed up with seven Indian mobilephone makers to pre-install its Opera mini mobile web browser.
Norway's Opera Software files antitrust complaint against Microsoft
Norwegian Web browser-maker Opera Software said Thursday it had filed a complaint with the European Commission against Microsoft.
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service


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The strengthening of patent law and the increasing cost pressures on branded drug makers in the West are fueling the growth tempo of Indian pharmaceutical sector.
Indian Pharmaceutical sector was once tarnished for making cheap clones of Western medicines and selling them in developing countries. However, this is no longer the case; seasoned in the basics of medicine making, it is now playing a significant role in the global drug industry. The industry achieved phenomenal progress over the years and is currently valued at $21.4 bn. According to the consultancy KPMG, the industry is expected to grow at a compound annual growth rate (CAGR) of about 18% till 2013-14. The Indian pharma market has become the third largest in the world in terms of volume and is ranked 14th in terms of value at over Rs 1 tn. During 2009-10, Indian pharmaceutical was among the few sectors that managed revenue growth despite the global economic recession. Another positive development has been the development of biotechnology sector in India.
Driven by increasing affordability, the industry is undergoing a major transformation and is slated to move into the world’s top-ten pharmaceutical market by 2015. Until recently, global pharmaceutical players have been incredibly proud and never outsourced from countries like India. However, analysts predict that everything in the value chain will move to different parts of the world destinations, which are cost competitive. India is going to be a major beneficiary because of this. The pharma outsourcing is no longer confined to preclinical trials but has also moved to the more sophisticated end of the drug making spectrum, including research and development (R&D) for the global drug giants and even development of proprietary medicines for Indian players. The global pharma giants have shown high interest in India going by sustained economic growth, healthcare reforms and patent-related regulations.
The industry strength is no longer confined to generic manufacturing as it has mastered developing and manufacturing generic versions of branded or patented drugs. Reverse-engineering has been one of the greatest boons to domestic players. Moreover, the strength in generic manufacturing has also given them the confidence to challenge patents of some of the top global pharmaceutical giants. With these strengths, the country has fast become the hub of research and development outsourcing.
The Indian pharmaceutical market has emerged a leader in novel drug delivery systems, custom synthesis of new molecules. To add to this, much of the work done by domestic contract research and manufacturing firms is being patented by multinational pharmaceutical corporations.
During the 1990s, there were hardly any exports to regulated markets from India. However, today over 40% of $8 bn exports to North America and Western Europe alone. The industry has a presence in 150 markets, which is more than any other industry in India. According to the data released by the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, the total turnover of the industry between September 2008 and September 2009 was $21.04 bn. Of this, the domestic market was worth $12.26 bn. According to the US Food and Drug Administration (FDA) data, it also accounts for 1,735 Drug Master Files (DMF) as against 1,054 from US domestic companies and more than the combined total of European and Japanese companies in 2008. This is a remarkable achievement in a decade.
For instance, in 1998, India filed only three Abbreviated New Drug Applications (ANDAs). In 2009, it filed 181 ANDAs. Satish Reddy, Managing Director and Chief Operating Officer, Dr Reddy’s Laboratories Ltd. applauds Indian market, and adds that, “The understanding of market dynamics and adapting to them quickly is a huge strength that India has. This is illustrated in the number of DMF filings alone that Indian pharma has with the US drugs regulator.” Though the industry has emerged from generics market through innovation as well as hub for contract and manufacturing, it is yet to prove itself in commercializing a New Chemical Entity (NCE). Hitesh Gajaria, Executive Director, KPMG opines “New drug discovery and development has not reached its full potential in India. However, the number of compounds in the Indian pipeline and in the advanced stages of development is also increasing. It is therefore not appropriate to say that India has failed in NCE innovation.”
As domestic pharma players initiated investing in NCE research in 1998, industry experts are of the view that a span of 12 years is too short to judge success or failure. Echoing the same view, G Shah, Secretary General, Indian Pharmaceutical Alliance says, “It takes seasoned players 10 to 12 years to get a molecule from lab to market. Give them (Indian pharma) at least 20 years and required funding support before sitting in judgment.”
Renowned Business Models
The industry has grown over a period of time and has seen many ups and downs during its evolution process. To meet the challenges of new initiatives, especially in the post patent era, the industry has started probing new business models to meet the ongoing changes in market opportunities and competitive scenario. Experts say in an ever-changing global environment, a homogenous business model is unlikely to work. To navigate competition and opportunities, domestic pharmaceutical players are adopting a combination of alternative business models. These include collaborative R&D and licensing of innovations.
On the collaborative model, Indian market has a huge potential for conducting effective and economical R&D activities and clinical trials, primarily because of the availability of a skilled and competent workforce, availability of diverse ethnic and genetic population, familiarity with Western medical facilities, competency in the English language, world-class medical infrastructure and more importantly, the cost-effectiveness of domestic players.
With the advent of patent provisions, domestic players will not be able to produce and market, generic versions of previously patented drugs. Therefore, they have to focus on innovation, instead of generic drug manufacturing. Over the last few years, they have been actively involved in the area of R&D either independently or as a contract research partner of a foreign company.
They have adopted harmonious business models, some of them focused on innovation and intellectual property (IP) for licensing (product strategy), others merely embraced a pure services provider model to leverage high-quality, low-cost workforce to bring value to global customers (services strategy). Thus, most of domestic players are in the process of transforming from manufacturing companies to higher-value integrated pharmaceutical companies.
Brand Portfolio Management
While the Indian generics industry has only a 20% share globally, it is time to focus on supplies of ARVs for treatment of HIV/AIDS in developing countries to grab the biggest share in this segment. Analysts argue that if Indian companies had not intervened in this sector with their significantly cheaper versions, a very large number of HIV/AIDS patients would have gone untreated. The government should play an active role to ensure that the potential of the industry is realized. Global consultancy firm McKinsey suggests raising spending on healthcare to 3% of GDP, increasing investments in rural and tier-2 healthcare infrastructure, adopting measures to contain healthcare costs and increasing the number of doctors in the system as policy measures to aid the industry. Industry experts say brand building is a continuous process and it takes time for a product to become a brand. Kedar Rajadnye, Vice-President, OTC Division, Piramal Healthcare suggests, “To create a brand is a time and capital-consuming exercise. Along with many years of investing, a product has to earn the trust of consumers to become a reputed brand, which is very difficult.” Therefore, building of large brands through brand portfolio management is the need of the hour to grab the global market share.
Despite the industry’s commendable achievements, India contributes a meager share of the global pharmaceutical market sales. According to a study done by Pharmabiz, the top Indian pharmaceutical companies seem to be less enthusiastic about the R&D activity if one goes by the expenditure incurred by them during last year. The study reveals that the overall R&D spending of top 20 companies increased by just 5% during 2009-10 to Rs 2,989 cr as against Rs 2,845 cr in the previous year. This worked out to 7.5% of their stand-alone net sales during 2009-10 as compared to 7.9% in previous year. R&D expenditure of Indian pharma companies is considerably lower than the global standards.
Strong pricing competition among local players leads to low margins which in turn lead to limited capital to R&D. The post patent regime would not allow the launch of ‘me-too’ or ‘copycat’ products in the market. Analysts say “deterring research focus and priorities is the key challenge.
Since discovery research is a long-term activity, it requires lot of patience and calls for different attitude as the failure rate is also very high.” Indian players are yet to consolidate this approach as it may take years to get good lead. Apart from this R&D, regulatory environment is also another key challenge going by increasing due diligence and compliance with standards which leads to cost overrunning and delay in new product launches. Beyond industry concerns, other problems like frequent power cuts and lack of proper transport are also act as another drawback to the growth of the industry.
Healthy Future Ahead
According to a report by PricewaterhouseCoopers (PwC), India will join the league of top 10 global pharmaceutical markets in terms of sales by 2020 with the total value reaching $50 bn. Industry observers are of the view that many premium drugs coming of patent and the increased confidence of international companies on India due to the product patent regime would mean a boom for the pharmaceutical industry. On the other hand, Indian players should focus more on R&D and better productivity to capitalize on the immense existing opportunities and the future will be extremely promising. Though the expenditure on R&D still remains sluggish, some leading players such as Ranbaxy and Dr Reddy Laboratories are leading the show for new formulations and molecules. Nevertheless, according to McKinsey, sustained progressive and collaborative efforts by the government and the pharma industry hold the key to achieving India’s full potential.
N Janardhan Rao, Senior Economist.


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Anyone who has ever tasted real country grown tomatoes from Romania must admit they taste amazing. Unfortunately with the development of the supermarket industry, more and more vegetables and fruits are imported from other countries. These products might look like actual tomatoes, but they sure do not taste like them
There still is hope however, as a foundation from Odorheiu Secuiesc has managed to save over 40 types of vegetables, such as the ” beef heart” tomatoes, the pork pumpkin, the pink onion or the beautiful bean.
The Civitas foundation has been growing these vegetables and one of their gardens is located in Apahida commune, Cluj county. The vegetables are grown in a pure natural way, without chemicals. The foundation has given the seeds to 50 different families across the country that will grow them in their garden. The coordinator of the project said that the seeds that you find in supermarkets are GMO. As well, the vegetables that are sold in Romanian markets are actually grown from seeds brought from Bulgaria, Turkey or Spain.
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TCS companions with AWS in new quantum computing initiative
Tata Consultancy Companies right this moment launched the TCS Quantum Computing Lab on AWS, a brand new service designed to supply enterprise prospects with perception into what it described as “one of the vital promising applied sciences of the last decade.”
The lab, it stated, will enable organizations to discover, develop and check enterprise choices geared toward accelerating adoption.
“Whereas nonetheless in its nascent levels, quantum computing has the potential to assist resolve challenges too troublesome for classical computer systems to unravel in a well timed method right this moment, comparable to enhanced detection of floor anomalies or optimization issues,” the corporate stated in a launch.
The brand new initiative, it added, will supply a digital analysis and improvement setting leveraging Amazon Braket, a quantum computing service from AWS. TCS stated it plans to leverage the lab to design industry-leading options, construct domain-centric efficiency benchmarks, and drive hackathons.
The intent, it stated, is to “assist prospects discover and co-create new use circumstances of quantum computing to deal with enterprise challenges that defy the capabilities of standard applied sciences.”
TCS stated it has been investing in quantum computing analysis for over 4 years. This has already resulted in two patent filings, in addition to progress towards advancing synthetic intelligence, optimization, cryptography, and digital safety. The corporate additionally contributes to straightforward our bodies and numerous authorities initiatives in quantum computing.
Krishna Mohan, international head of the corporate’s AWS enterprise unit, stated the lab will allow prospects to “jumpstart their quantum computing journey” by incubating and testing new concepts on Amazon Braket.


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Australian consumers are set to fork out a whopping $1.3 billion online over the four days from Black Friday to Cyber Monday, amidst a growing trend of consumers moving their Christmas shopping to the earlier period of late-November than the traditional time of December.
According to National Retail Association (NRA) CEO Dominique Lamb, the four-day period from Black Friday to Cyber Monday is anticipated to be the “biggest spree of the entire year for retail”.
“Black Friday and Cyber Monday have gradually become more popular each year and in 2019 these events are set to take Australian retail by storm.
“We’re seeing a growing trend with consumers looking to knock off their Christmas shopping earlier than usual, with November starting to edge out December as the busiest period. Bargain sales events such as Black Friday and Cyber Monday have only heightened this trend.
“The NRA is forecasting a massive $1.3 billion to be spent online over the upcoming four days and throughout the entire Christmas period shoppers will splurge an average of $54,357 per minute in online sales alone.
“In 2019, shoppers can research and purchase items from the comfort of their own home via everyday accessories such as laptops, iPads and iPhones. Changes in consumer behaviour have seen a strong increase in popularity for both Black Friday and Cyber Monday.”
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Donald Trump has suggested a Starbucks boycott over the recent red cups controversy.
Speaking at a rally in Springfield, Illinois, the Republican presidential front-runner said:
"I have one of the most successful Starbucks, in Trump Tower. Maybe we should boycott Starbucks? I don’t know. Seriously, I don’t care. That’s the end of that lease, but who cares?"
He followed that up with:
"If I become president, we’re all going to be saying ‘Merry Christmas’ again, that I can tell you. That I can tell you."
Trump's comments were in response to the backlash against Starbucks' release of a plain red cup design for the Christmas holidays in place of the traditional seasonal designs they'd gone with in the past. The decision has led to some backlash with some people labeling it as anti-Christian.
— Starbucks UK (@StarbucksUK) November 3, 2015
In a statement, the company said this year's cups were meant to be a "blank canvas" for its customers to doodle on, and that it "wanted to usher in the holidays with a purity of design that welcomes all of our stories.”


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Sims Honda, located in Burlington, Washington, is on a roll. Sales are up 25 percent year-to-date, profits are up and the dealership commands a whopping 73 percent share of the local Honda market. “We’re just up and up and up, and it seems to keep going that way,” said Bobby Maynard, General Manager of the Honda dealership.
Even with the dealership’s key metrics trending upward since 2012, Maynard is quick to remind his staff that things can turn south in a heartbeat. Take March 2011, for example, when an earthquake and tsunami in Japan suddenly choked off the global flow of automotive parts and components, shuttering assembly plants and inflicting more pain on an industry that was still licking its wounds from the Great Recession. The parts shortages hit Toyota and Honda particularly hard.
As painful as those times were, Maynard believes they helped Sims Honda become stronger. When there were just a handful of new cars on the lot after the disaster in Japan, the dealership shifted its focus to selling used vehicles. Today, the used-car business is “thriving because of those challenges,” Maynard said.
“Challenges teach you how to get better,” he said. “I tell everybody at the service meetings and the sales meetings, ‘Hey, it’s good right now, but we need to keep getting better.’ Because when it’s not so good, that’s going to show how good we really are. You can never stop improving, and you can never stop treating people right and doing the right thing. When things get tough, a customer coming back and doing business with us again is determined by how great we are and the level of trust we have with our customers.”
Trust is especially important in Burlington, which Maynard describes as “a tight, farming community” about an hour north of Seattle. “Word of mouth goes a long way,” Maynard said. “Repeat and referral business is very important to us.”
THE POWER OF LOVE
Vern and his two sons Dan and Lance opened Sims Honda in 1979. Maynard, a native of nearby Mount Vernon, joined the dealership as a Sales Associate in 1998, earning a promotion to Sales Manager just three years later. After 13 years as Sales Manager, Maynard became General Manager in 2014.
Maynard is a lifelong soccer player, an avid golfer and a member of the Skagit Valley Flag Football League. His competitive nature bleeds into his work at the dealership where he strives to cultivate a team atmosphere.
“I hate turnover,” Maynard said. “I will take people and just love on them. You love on people a lot, you find people’s strengths and you put them in a position to win.”
Knowing that “the car business isn’t the easiest world to thrive in,” Maynard goes out of his way to make sure that his team members enjoy coming to work every day.
“People come onto our showroom floor and they say, ‘This isn’t like a car store,’” he explained. “They go back in service and they say, ‘This doesn’t feel like a car store. How come everybody is so happy?’ It’s something we hear every day from our customers and we see in our reviews. This is a fun place to work.”
RACE TO THE BOTTOM
Sims Honda has staked its fortunes on the fundamentals: great products, strong customer service and a motivated sales staff. In particular, Maynard emphasized that the sales team is the foundation of the store’s success.
“I believe wholeheartedly in great salespeople more than anything in this business,” Maynard said. “The biggest difference between you succeeding and failing is a salesperson. I really believe that
Not all dealerships see it that way. While Maynard’s performance is judged on the dealership’s profitability, some stores only want to sell the most cars — regardless of how they get there. When stores employ a “scorched-earth” approach to achieving their aggressive sales goals, it puts pressure on other dealerships — such as Sims Honda — that emphasize value over volume.
“They’ve given up on finding and creating great salespeople,” Maynard said of dealerships that strive solely to be volume leaders. “It’s all about price, price, price and this race to the bottom.”
TOOLS FOR SUCCESS
For Sims Honda, the Apollo Technology Platform is an affirmation of the sales team’s importance. The platform provides the sales staff with critical insights into the online activity of ownership-verified prospects who are statistically most likely to buy a vehicle or come in for service in the next 90 days. Team Velocity Marketing, the agency Sims Honda selected to spearhead its marketing efforts, refreshes the dealership’s marketing dashboard every night, giving the sales team updated lists for email, mail, Google, Bing and Facebook ads.
“We can log into Apollo all activity for anyone who either owns a Honda or has been to our store for sales or service,” Maynard said. “Whether the customer made a phone call, viewed a coupon, or looked at their custom offers, we see all activity our customers take every day. Training the management staff on utilizing the tools in Apollo has been a point of emphasis for me because that’s
where we track our customers’ activity. If we know what our customers are doing and what they are looking at, then we know how to sell to them, or schedule their service. It’s all right there.”
Apollo automatically creates state and OEM-compliant sales and service offers, distributing them through every advertising medium, including digital advertising, direct mail and email. Sims
Honda has been reaping the benefits of using technology to drive their marketing strategy. Recent data attributes 44 percent of monthly new-car sales and 79 percent of monthly service ROs to the Team Velocity Marketing program.
Direct mail has been effective as well. By ranking ZIP codes based on factors such as the number of active customers, market share, distance and cost per sale, Team Velocity Marketing defines the dealership’s “perfect market,” enabling Sims Honda to launch targeted direct-mail campaigns. Apollo uses data from the dealership’s DMS to determine historical trade patterns and then configures relevant, hyperpersonalized offers for the make and model their customers are most likely to purchase.
“It’s really been paying off,” Maynard said, noting that new-car sales are up 25 percent year-to-date. Sims Honda signed on with Team Velocity Marketing a few months before Maynard became General Manager. Today, the dealership is “full-on Team Velocity,” Maynard said.
The numbers speak volumes about the impact of Team Velocity’s data-driven marketing services. Since the dealership signed on in 2013, new-car sales are up 56 percent and used-car sales are up 62 percent. “We just turned on their car-review service and we’ve been killing it,” Maynard added. “In the first month, they scheduled 28 appointments and we closed 15 deals.”
To learn more about Sims Honda and the strategies outlined in this article email: [email protected]


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Virginia to receive more than $2 million in federal funding for Martinsville-based manufacturing partnership
WASHINGTON, D.C. (WDBJ) - The Commonwealth of Virginia will receive over $2 million in federal funding from the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) for the A.L. Philpott Manufacturing Extension Program (MEP), also known as GENEDGE in Martinsville, According to U.S. Senators Tim Kaine and Mark Warner (both D-VA).
Kaine’s team says the funding will help the program better support small and medium-sized manufacturing companies across Virginia while expanding their reach, growing Virginia’s manufacturing industry, using high-tech solutions, optimizing their facilities, boosting efficiency, and training and mentoring workers.
“The pandemic and war in Ukraine have underscored the importance of supporting domestic manufacturing. We’re excited to announce this funding, which will grow Virginia’s manufacturing industry,” the Senators said. “This investment will help ensure small and medium-sized manufacturers have the resources they need.”
GENEDGE is a part of the Hollings Manufacturing Extension Partnership (MEP) National Network. In the 2021 fiscal year, the MEP National Network generated $26.20 in new sales growth for manufacturers for every one dollar received in federal funding.
Copyright 2022 WDBJ. All rights reserved.


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Save the Date: CGC|NFT 2.0’s annual event kicks off on June 10–11, 2021!
CGC|NFT 2.0 is here as a definitive source of knowledge and insights from businesses and individuals riding the NFT wave, spreading the boundaries of technology and entertainment.
As one of the leading conferences in crypto, gaming and digital media, CGC|NFT 2.0 has lined up stellar speakers in the industry to share their experiences and discuss the evident technological advancement today — and one of the prominent players in the conference is EPIK Prime.
A pioneer in the NFT space and global leader in producing unique in-game items, events and experiences, EPIK Prime will be hosting a talk on the 10th and moderating a panel on the 11th on NFTs and mass adoption. Attendees will learn how EPIK Prime is integrating brands and IPs (intellectual properties) as branded digital collectibles for videos, games and even crypto metaverses.
Get your pass now at https://cgc.one/!


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Considering the game has been out for a year, there’s been a surprising amount of talk over the last week surrounding World of Goo. First off, developer 2D Boy announced the game was coming to the iPhone, and then they announced a week-long birthday sale and pulled a Radiohead by letting you name your own price, the results for which have now been announced via their webste — the game has been purchased 57,000 times from their website (check out a histogram that breaks down the sales numbers below).
A few other interesting tidbits came from the post, namely that 13% of the money made went to Paypal for transaction fees, and they didn’t get a penny of the over 16,000 pennies used to buy the game for said amount (but Paypal took a big hit on all those penny transactions). However the stranger piece of news to come from this was that their week-to-week Steam sales rose 40%, and all those copies were $19.99. This could be due to all the World of Goo iPhone talk, but I’m sure there’s more then a few people kicking themselves right about now. They also had an exit poll for people who bought the game, and the number 1 answer as to why did the person pay the price they paid was “That’s all I can afford right now.”
As I said when talking about the future iPhone version, I liked World of Goo a lot, however I found $20 to be a little on the steep side, but I understand why they charged that much. In this age of rampant piracy, it’s probably a smart business decision to overcharge the good honest people who still want to pay for their PC games.
However if you’re one of those honest people and missed your chance to buy the game at whatever price you wish, the sale has been extended to Sunday, October 25th. I would say $15 is a fair asking price and a good number if you feel like supporting the developers proper. Just don’t pay a penny for it.


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Aiming Lowe: Daisy revealed as new face of Biba as label goes back to High Street roots
A favourite with Marianne Faithfull, Twiggy and Bianca Jagger, Biba's cheap, trend-led clothing made it synonymous with Sixties style.
But a high-end re-launch four years ago failed to repeat the same success, and it went into administration in 2008.
Now the label is re-launching again, and this time it's going back to its High Street roots, with model and party girl Daisy Lowe as the face of the brand.
Sixties style: Daisy Lowe is the new face of Biba, which is re-launching as a High Street label
The campaign images, which play on the brand's Sixties heritage, see the 21-year-old smoulder with kohl-rimmed eyes in a leopard-print coat.
The range will also include faux fur and marabou jackets and limited-edition party dresses, as well as denim and jewellery.
Lowe, who has worn the new label to several festivals this summer, says she was thrilled to be involved.
'It was a huge honour to be asked. I've been a fan of the brand since I was very young,' she said.
'When I started my modelling career, and when I first started to understand clothes, Biba was one of the first names that cropped up. I've always really loved Biba so when I was asked to be part of the campaign I was just ecstatic.'
Distinctive: House of Fraser, which owns the Biba name, said Lowe was the perfect girl to represent the label
The label, which re-launches next month, will be exclusive to House of Fraser, which said that Lowe was the perfect person to represent the brand.
'Daisy embodies new Biba - she is confident, fashionable and glamorous with a very distinctive look that we feel perfectly complements it,' said Stephanie Chen, House of Fraser's executive director of womenswear and accessories.
'She is also very passionate about the brand as she has archive pieces in her own wardrobe and genuinely loves the new collection which was really important to us.'
Iconic: Twiggy in Biba in the Sixties. The label was a favourite with the era's bright young things
Barbara Hulanicki opened the first Biba boutique in London's Kensington in 1964, and it was a huge hit with the era's bright young things.
It closed in 1975, and the name was sold, but in 2006 it re-launched as a designer label with Bella Freud at the helm.
House of Fraser bought the label following Biba's closure in 2008, and the newly-launched collection will be available in 35 stores nationwide - 10 of which will have special Biba concessions
Biba will be available at House of Fraser stores and online at mybiba.com from September 9
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Earth Week is a time to appreciate the environment and raise awareness for the issues that threaten it.
King County "EcoConsumer" Tom Watson is trying to spread the message that small changes when grocery shopping can really make a big difference to the Earth.
"You really need to consider whether it's recyclable or reusable. The food part is the important thing but the packaging really creates a lot of waste," said Watson.
Watson said that one of the best green products on the market is recycled bathroom tissue.
"It's something we all use and you might as well buy toilet paper that is made from recycled office paper," said Watson.
He also encouraged shoppers to reuse their plastic produce bags or buy a cloth one.
For more information on Earth Week and tips on recycling visit www.kcecoconsumer.com.


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US: Foster's Wine Estates realigns sales teams
It's been a lively year for Foster's
The US-based wine unit of Foster's Group has confirmed details behind its new leadership team for distributor management and off-trade accounts.
Foster’s Wine Estates Americas said late last week that David Brown has been appointed vice president for off-premise accounts. Brown joins Foster’s from Mars, Inc where he served as VP of sales for their health and nutrition division.
Meanwhile, Foster’s distributor management team will be led by four division vice presidents: Linda Gawne, who has previously worked for Diageo and Coors; Tom Tomesko, who has worked with E&J Gallo Winery and Glazer’s Distributors; John Grant, who was a past president of Kendall-Jackson Wine Estates and Constellation Wines Australia; and Christian Gray who has been with Foster’s for three years and has prior experience with Gallo and Diageo.
“Some 12 months ago, we started the process of transforming Foster’s in-market capabilities,” said Foster’s senior vice president of sales, Mike Holden. “These new senior level appointments combined with the latest realignment of our distributor management organisation along with the development of a new luxury sales team are critical steps forward in implementing our strategic plan.”
Last month, Foster's Wine Estates said it had lined up a change of distribution partners in the country.
M&A activity within the beer sector this year has been limited to just the one big transaction, in Mexico. Larry Nelson believes, however, that 2010 could have served as the calm before the storm, wit...
Moet Hennessy has confirmed a change of leadership at its US unit....
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A user on TikTok has gone viral after sharing his negative experience at a local Chevrolet dealership.
In a video with over 8.8 million views, car-focused TikTok user @Pbsquamer recounted his experience at the Woodbridge, Virginia-based dealership, Lindsay Chevrolet.
According to the creator, he initially went to the dealership after seeing a car he was interested in listed for $23,000, which he called a “great price” for the car in question.
After he confirmed the price and test drove the car, he settled down to sign the paperwork — only to discover the dealership had added a $2,500 fee, which they dubbed the “blazer cost.”
“It’s a package that we have to add on,” @Pbsquamer recalls the salesperson saying. “Basically, what it is is that it comes with two years’ free maintenance and some floor mats for the car.”
The TikToker politely declined, at which point he discovered the fee was not optional.
“So the car is $25,500, not 23?” he recounts asking.
“No, the car’s still $23,000,” the salesperson allegedly responded.
“Then I don’t want the package, and I’ll pay for it at 23,” @Pbsquamer claims he answered. His offer was rejected.
Once the TikToker threatened to leave, the dealership offered to negotiate, knocking off half of the fee. The buyer still refused, at which point the dealership informed him again that the package covered two years of maintenance and floor mats. @Pbsquamer retorted that maintenance for a car of such a young age would be minimal and floor mats are cheap to purchase.
The salesperson then said he was leaving to speak to his boss. After 20 minutes, @Pbsquamer was informed that the boss was not actually going to return. At this point, he left.
“The old bait and switch scam,” he sums up the experience in the caption.
@pbsquamer The old bait and switch scam #fyp #chevy #dealer #scam #hiddenfee ♬ original sound – Pbsquamer
In the comments section, users shared their own stories of dealership rip-offs.
“Our dealership tacked on 5K surcharge. My husband said ‘I don’t pay over sticker’ and left,” claimed one commenter. “They called us the next day with a better deal.”
“Had this for my daughters brand new Hyundai- extra $$ for ‘free car washes’!” exclaimed another. “I didn’t want to pay for those and left – they lost the sale.”
“I WENT TO A DEALERSHIP IN WATERLOO AND THE MAN TRIED TO UPCHARGE ME 9K FOR RUST PROTECTION,” offered a third.
“I tried to buy a car and they added a $2000 ‘Covid’ package for disinfection spray,” recalled another TikToker. “We left promptly after he said he would make his mom pay the same.”
This practice appears so widespread in the industry that the FTC is currently proposing rules to reign in the practice. The proposed “16 CFR Part 463: Motor Vehicle Dealers Trade Regulation Rule (NPRM)” would ban fees similar to the one seen in the video alongside many other fees. The National Automobile Dealers Association (“NADA”) has come out in opposition to this proposed rule.
Other commenters shared that it was silly to lose a customer over $2,500.
As one user wrote, “So they lose a $23,000 sale over $2500?? I think that’s pretty bad business.”
We’ve reached out to @Pbsquamer via Instagram direct message and Lindsay Chevrolet via email.
Sign up to receive the Daily Dot’s Internet Insider newsletter for urgent news from the frontline of online.Source: https://www.dailydot.com/irl/chevrolet-dealership-blazer-package-scam-psa/


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T-Mobile has yet to provide specific details on its deal to begin selling Apple products this year, but its plan to eliminate subsidies and provide users with the ability to purchase devices with monthly installments in the next three months is getting a lot of attention. We assume this offer of purchasing a smartphone through $15 to $20 installments for 20 months will extend to the iPhone, as T-Mobile USA CEO John Legere recently hinted. According to Reuters, who recently spoke with the CEOs of Verizon and AT&T, the other major iPhone carriers are very intrigued by the strategy.
AT&T CEO Randall Stephenson told Reuters he likes the idea and would keep a close eye on T-Mobile’s strategy:
Randall Stephenson, CEO of AT&T, Apple’s first partner for the iPhone, applauds T-Mobile USA’s idea. “That’s something we’ve looked at on several occasions. I kind of like that idea,” Stephenson said. “It’s something we’re going to be watching.”
Verizon CEO Lowell McAdam told Reuters T-Mobile USA’s strategy is “very intriguing,” but wondered if consumers are ready to pay full price.
Reuters also noted, despite subsidies, Apple’s ability to maintain roughly 40-percent margins is due to its “ability to extract low prices from the makers of chips and other components.” An unnamed executive at one of Apple’s suppliers told the publication that working with Apple is “a double-edged sword”:
Selling to Apple is “a double-edged sword,” said the executive, who was not authorized to discuss his company’s relationship with Apple. Having Apple as a customer guarantees huge volumes, but comes at the cost of accepting rock bottom prices that can cripple profit margins, the executive said.
T-Mobile CEO John Legere told Reuters its deal with Apple would not be “as onerous as Sprint Nextel’s commitment to pay $15.5 billion over four years.” The theory is: T-Mobile’s new strategy, if successful, in combination with increased competition from lower-cost devices, could lead to tougher negotiations between Apple and carriers and possibly cut into Apple’s margins.
Fran Shammo, chief financial officer of Verizon Communications, said having four strong platforms – Apple, Android, Windows and BlackBerry – is leading to more competitive pricing. “The more operating systems we have to compete in this area the better the competition,” he told Reuters.
- Apple releases iOS 6.1 with more LTE carrier support, Siri/Fandango movie ticket purchasing, iTunes Match song downloading (9to5mac.com)
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FTC: We use income earning auto affiliate links. More.


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2. The study relied on a dataset of hundreds of millions of secret answers and millions of account recovery requests.
3. But Choupette isn't only a kept kitty, for she made more than ￡2.3million in one year alone after appearing in just two ad campaigns — one for Japenese beauty product Shu Uemura, and for German car company Vauxhall.
"People didn't just search for the players and the teams. It was a cultural learning experience. It was the first World Cup in Africa, and people wanted to learn about post-Apartheid South Africa," she said. "People also wanted to find out what that noise was -- the vuvuzelas."


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Metal mined by children won’t be traded in London, the main metals market has said.
The London Metal Exchange says it could strip companies of approved status if they fall short of new industry standards.
The LME will issue principles for “responsible sourcing” in the next few months. Metal suppliers will have to demonstrate that they meet certain standards following an outcry about cobalt mined by children in Africa.
A source told Reuters: “The LME has to be policeman. It can do that by making sure industry standards on child labour and conflict minerals are being met, that there is auditing and certification.”
The spotlight has also fallen in recent years on tin, another metal traded on the LME that is used in electronics and can come from conflict zones in Africa.
There is no single industry-wide standard for responsible mineral supply chains, but the Organisation for Economic Co-operation and Development has a five-step framework.
The LME sent a survey to producers in November asking about the sourcing, auditing and certification of metal that can be delivered against LME contracts. Responses were due late last year.
Carmakers such as Volkswagen have asked suppliers to ensure cobalt does not come from child labour.


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Ananth Pullela says he’s on a mission to “change the perception of vegetarian food.”
Pullela’s restaurant Jazzy Veggie, located at 108 South Main St., is slated to join the ranks of other vegetarian restaurants, like Seva and Earthen Jar, when it opens early next month. Pullela, said he was motivated to open the vegan eatery in part to remove the stigma that vegetarian food is boring and not flavorful or nutritious.
“I wanted to change that … by offering some exciting flavors that are traditionally limited to the meat-based foods,” Pullela said. “Why can’t we adapt those kinds of flavors and make the food more exciting and create some new ones in the process?”
Pullela said he’s been working with his chef to put together a number of innovative dishes like seasoned plantain chips with signature sauces and dips as well as a selection of veggie burgers that he insists will not taste like cardboard. The restaurant plans to offer various types of condiments that can add another layer of flavor to the food like honey barbecue or Mexican spices.
Jazzy Veggie’s food will be rich in protein, Pullela said, to cater to health conscious patrons. He also described one additional item he’s particularly excited about — a vegan cheese pizza that he calls “guilt-free” because of its low cholesterol and calorie content.
Ann Arbor resident Steve Bradley, who’s a waiter at a different restaurant, said that while he’s not vegan or vegetarian, he thinks Jazzy Veggie will be a welcome addition to the local culinary scene.
“I’ve worked in town a long time, and there’s a lot of people that would be interested in that because they really have no place to go, or very … few options,” Bradley said.
Pullela said he knows what it’s like to have to hunt for vegetarian food. When he moved to the United States from India 17 years ago, Pullela said vegetarian options were hard to come by.
“At that time … if I go to a typical fast food (place) I’d have to ask, ‘OK, hold the meat, please hold the meat, please hold this and that,’ so they put (on) a tomato and lettuce and that’s about it,” Pullela said.
Though he admits things were different then, he said that even now there are often only one or two vegetarian options to choose from on a menu, and these often lack the creativity he plans to offer at his restaurant.
Pullela said he first got the idea to bring more vegetarian food to Ann Arbor while he was pursuing his MBA at the Ross School of Business, but he got serious about opening the restaurant in the last five years.
“The formal training in business really helped me in putting together my business plan,” Pullela said.
Pullela is currently working with contractors to change the restaurant’s façade and interior and has added tomato red and lime green walls, which he said he chose to make the restaurant “vibrant and not dull.”
Puella added that he doesn’t consider other vegetarian restaurants in the area competition because he thinks patrons want a variety of vegetarian foods.
“One day they’ll go to Seva, and maybe the other day they’ll say, ‘Hey, let’s go to Jazzy Veggie for this kind of food,’ ” Pullela said.
Jeff Jackson, owner of Seva Restaurant, said the more vegan and vegetarian restaurants in the area, the better.
“I mean competition is competition, but the more options you have, I think the more people come down and see you,” Jackson said.
Rackham student Leigh Gallagher said she might visit Jazzy Veggie simply for its interesting name, but she did voice some concerns about the food options the restaurant may offer.
“Isn’t veganism dated and unhealthy?” Gallagher said.
Rackham student Michael Gorwitz said that while he is not vegan, he would be interested in visiting an all-vegan restaurant like Jazzy Veggie on occasion.
“Why not?” Gorwitz said.


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Uber had announced in January that it was bringing its food delivery service to India, its fastest-growing market in the world. UberEATS has rolled out in Mumbai and will soon be taken to five other Indian cities. India becomes UberEATS' fourth Asian market, after it launched in Singapore last May, followed by Tokyo (Japan) and Bangkok (Thailand). Interestingly, Uber's local rival Ola had started a similar service, Ola Cafe, in 2015 and shut it down a year later after reportedly failing to expand its network of restaurants. UberEATS presently delivers to a handful of zip codes, primarily in western Mumbai (see map). Most of the city is yet to be serviced.
If you love eating at restaurants often but you're also lazy and/or just prefer staying home, UberEats is a service you should get to know. UberEats, the ride-hailing company's food-delivery service, now runs until 2 a.m. in London, a three-hour extension of its previous closing time, according to a company announcement. This update means Londoners can order UberEat almost around the clock, choosing from 150 participating restaurants to fill the space in their stomach long past the setting of the sun. The service started doing breakfast in London at 7 a.m. So now instead of running from 11 a.m. to 11 p.m., just half the day, the service now covers 19 of every 24 hours.
TOKYO--Uber Technologies Inc. plans to launch its food-delivery business in Japan on Thursday, preparing for a gradual rollout across a country where its main ride-hailing business is barred. Uber is introducing the service, dubbed UberEats, in Tokyo, a city where good restaurants are plentiful but their food isn't always available for delivery. Tokyo is the 34th city UberEats has entered. The company says it will launch the service in other Japanese cities soon. Bicycle couriers will pick up orders from more than 150 restaurants and deliver food boxes to customers.
The ride-sharing company's food delivery service will start incorporating surge pricing in select cities, Uber product manager Ben Dreier announced in a blog post Thursday. Instead, he said that UberEats customers would "pay more for delivery" when demand is high. "There are still times when there aren't enough delivery partners in a particular area to complete every delivery request at Uber speed," Dreier wrote. "That's why we're asking UberEATS customers in select cities to pay more for delivery when they order from restaurants in areas where demand is high but delivery partners are scarce." Uber has long implemented surge pricing for its ride-hailing services, but UberEats has so far been exempt from the added fee applied during times of high demand.
Uber Technologies announced Wednesday that it will start a food delivery service in Japan after the company's primary ride-hailing service met with multiple obstacles thanks to the country's strong taxi lobby. The service called UberEATS will reportedly launch Thursday in central Tokyo where food delivery isn't always available. The company added that UberEATS will be launched in several other cities in the country over time. With the latest development, Japan becomes the 8th country and Tokyo the 34th city for UberEATS. Drivers will pick up food from over 150 restaurants in Tokyo and deliver them to customers.


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Atrium, the legal software startup founded by Twitch creator Justin Kan, is reportedly shutting down and returning some of its funding to investors
- Legal-tech startup Atrium is reportedly shuttering its operations and laying off its 100 employees, TechCrunch's Josh Constine reported Tuesday.
- The company, founded by Twitch creator Justin Kan, reportedly said it would return some of the $75.5 million that it had attracted in funding from investors like Andreessen Horowitz.
- Earlier this year, Atrium announced that it would restructure its services and let go of most of its in-house lawyers.
- Visit Business Insider's homepage for more stories.
Legal-tech startup Atrium is reportedly letting go of its 100 employees and shuttering its operations, TechCrunch's Josh Constine reported Tuesday. The company also reportedly said it would be returning some of the $75 million that it had attracted in funding from investors.
Atrium did not immediately respond to Business Insider's request for comment.
Atrium founder and CEO Justin Kan is perhaps best known as the creator of modern live-streaming with the launch of Twitch, which sold to Amazon for nearly $1 billion in 2014.
But his second act as the founder behind the legal services and software startup faltered to deliver on its initial promise to disrupt the legal services industry.
The three-year-old startup initially had a vision to build software tools for its in-house law firm, that could then provide startups with more efficient legal services. It even envisioned bundling these machine-learning software tools to sell to law firms in the future. And that vision helped the company raise $60 million in a Series B funding round led by Andreessen Horowitz.
At the beginning of this year however, the company announced that it would be restructuring its services to focus more on its software products. The changes announced were drastic, and involved letting go of most of the company's in-house lawyers. The company would also broaden its focus beyond legal advice, Kan announced in a blog post.
"We've made the tough decision to restructure the company to accommodate growth into new business services through our existing professional services network. This change impacts our workforce in a couple of ways," Kan wrote in January, adding that the company's in-house lawyers would shift to becoming "preferred providers in our professional services network."
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Tory Burch injected a bit more juice into the already juicy legal battle with her ex-husband Chris Burch on Tuesday, filing a response and counterclaims to his earlier lawsuit against her.
At the heart of the dispute is whether Mr. Burch, in creating his own store concept, called C. Wonder, veered too far into the retail territory of the wildly successful Tory Burch business, which the Burches founded in 2003, by copying some of her signature preppy looks and the interior designs of her stores. (They divorced in 2007.)
Mr. Burch, in a suit filed in October, alleged that Ms. Burch and the board members of her company had interfered both with his business and his attempt to sell part of his 28 percent ownership stake in Tory Burch. Ms. Burch, in response, denied those charges and said that the attempted sale of Mr. Burch’s stake had failed because of his own actions. According to the response, the board members of Tory Burch had opposed the sale, absent a settlement between Ms. Burch and Mr. Burch, which was not forthcoming.
Among Mr. Burch’s more titillating claims in his suit was that Ms. Burch had led a “vicious campaign to deprive her ex-husband of the value of his co-equal interest in the extraordinarily successful fashion business they co-founded,” and that the other board members were “thoroughly dominated and controlled by Ms. Burch.”
That was denied in the response. While acknowledging that Mr. Burch, who had remained a director of Tory Burch until this year, was within his rights to start a competing business, Ms. Burch’s suit alleges that Mr. Burch was not honest with the board about his ventures and had misappropriated company secrets.
Ms. Burch’s response also included its own barbs, at one point responding to a minor descriptive boast in Mr. Burch’s case by writing: “Defendants deny that C. Wonder is a cutting edge brand. C. Wonder is a knock off brand.”
But some of the sharpest points came in Ms. Burch’s countersuit. It includes examples of designs that the Tory Burch company considers to be knockoffs, including sandals with the similar placement of logos, khaki cardigans, leopard-print wallets and even clogs. The similarities were noted down to the lacquered doors of both retailers – orange at Tory Burch and green at C. Wonder – and the pintucked upholstered poufs with pleated trims used for décor.
Noting that Mr. Burch, while the co-chair of the board of Tory Burch, made production sourcing an area of his focus, the suit claims that he proposed low-quality factories that did not meet the company’s standards. In one case, in 2006, he “presented the company with a copy of the Reva ballet slipper that Chris claimed could be purchased at an 85 percent discount from the wholesale price that the company was paying,” the suit charges. “Chris did not even realize that the copy was made of plastic, not leather.”


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Branded content has more relevance on news channels than any other genre, reveals News18 India's national revenue head, Sidharth Newatia. In a chat with Campaign India, Newatia adds that by aligning a brand with a news channel, one has a chance to reach out to penetrated markets and not tarnish its credibility.
Newatia also discussed the revival of BARC, which sector of brands are investing in the channel, and the challenges the news genre is facing...
How has the cluster's growth been so far this year, and has the revival of BARC helped the channel's ad revenue growth?
While the calendar year is coming to a close, we still have five months until the fiscal year closes. Overall, in the current market scenario, the Hindi news cluster is in good shape.
We have recorded double-digit growth in our revenue after the BARC ratings revived and our position reached the numero uno status.
What are some of the leverage points the channel is delivering for its brand associates, and what ROI can they expect for the same?
At Network18, in terms of our deliverables to brand associates, we provide them with better reach and help them achieve their marketing objectives through our Hindi and English news channels.
To give the best ROI for advertisers, we limit our inventories to ensure that the advertisers get profitable returns and reach out to targeted markets. Advertisers apart from taking the normal commercial inventory are heavily investing in the content commercial elements along with utilising the power of branded content.
When it comes to branded content, how can one ensure that they integrate content subtly without being too in the face?
When looking at branded content there is only one facet that news brings to the table, unlike any other genre which is credibility. When news channels partner with a brand it is usually for a social cause and isn’t pure play advertising.
For instance, Reckitt Benckiser (RB) partnered with us for our flagship property, ‘Mission Paani’ with its brand Harpic, where we aimed to spread awareness on water conservation. This type of branded content is not too in-your-face, it’s subtle and brings credibility to RB as a brand as well.
How do you ensure advertisers break the clutter and extract maximum brand recall on the channel?
Certain advertisers have also partnered with us on our IP lineup which gives them a 360-degree one-stop solution. One of the strategies for this year for us was to build an enviable intellectual property line-up which will be relevant to the masses.
Whereas, some advertisers take the route of ‘studio branding’ with us. For example, when Amazon Prime Video was launching ‘The Lord of the Rings - The Rings of Power’ or more recently when they were promoting NZ vs India series, they did a complete studio takeover, thereby separating themselves from the clutter.
Which sector of brands is heavily investing in the channel?
FMCG stands at the top position with 30% of the advertising pie and this trend seems to remain constant. In addition, we also have a big segment of digital services such as Amazon, Flipkart, PhonePe and travel tourism brands advertising on our channel.
What does the channel's marketing split look like?
We do different types of marketing campaigns according to our budgets. It ranges from things like brand building (for our brand associates) to promoting our shows on the channel.
Our media mix is usually a function of the objective we are trying to achieve. Our campaigns are usually 360-degree in nature but depending on which national state and target audience we are aiming to reach out to the nuances change.
This year we have taken a conscious call to roll out intellectual properties for the channel. Our marketing efforts are geared towards those IPs.
Could you tell us about some of the challenges News18 India is facing that are hampering the channel's growth?
The biggest challenge right now is not the number of advertisers on television but getting the volumes back to pre-covid levels. The volumes per advertiser have not seen the sharp increase that we were expecting. The reason for that is the rising input costs and hence the client's quarter lines have taken a hit. This is why clients have reduced their discretionary spending.
Even though the number of clients has increased, the ticket size per advertiser is a challenge for the industry.
To counter this challenge, we are trying to reach out to tier two and three cities. We are increasing the penetration of the news genre in those markets and showcasing brands who want to advertise with us the power of news. On the other hand, with these markets, we are showcasing how tier two and three brands can scale their organisation through the news.
Our efforts are dedicated to getting fresher advertisers from tier two-three markets and are willing to invest in a news brand.
As we are coming to the end of the year, what sort of trends are triumphing in the news genre space and what trends will take centre stage in 2023?
The convergence of digital and linear news will be the biggest trend going forward for the industry and for us as an organisation as well. We aim to be threadbare of change and will aim to provide strategies in this direction.


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It has been reported that a Tesla Cybertruck is now being driven on the roadways of the state of California. A few still photographs as well as a brief film clip featured the car that seemed like it came from the future. One of the most obvious modifications made to the Tesla Cybertruck for its most recent iteration was the shape of the side-view mirrors, which were redesigned to conform more closely to the angular profile of the electric vehicle (EV).
— Tesla Owners Silicon Valley (@teslaownersSV) February 3, 2023
Tesla Cybertruck event took place quite some time ago, and it featured an electric vehicle (EV) that appeared on stage and had its indestructible windows destroyed in a rather short amount of time. That was in the year 2019, and it is apparent that Tesla’s engineers and designers have been working tirelessly to ensure that the corporation has another hit electric vehicle ready to sell to its devoted customers whenever the Cybertruck is eventually released into the market (likely some point in 2024).
Recent live sightings of the Tesla Cybertruck have now been discovered, and it unquestionably exudes the air of a next-generation electric light-duty truck. It is difficult to miss due to its well-known angular appearance, and there have been minor modifications, such as the side-view mirrors adopting a triangle shape to better resemble the Cybertruck itself. However, the rear brake lights seem to be turned down, since just the top left and top right parts of the bar are illuminated rather than the whole bar.
It should come as no surprise that the most recent sighting of a Tesla Cybertruck in the wild has been met with a variety of reactions, with some people praising the look and others laughing at the design of the vehicle. The Cybertruck is anticipated to have an electric range limit of up to 500 miles, and the initial pricing estimates for the several motor versions ranged from $39,900 up to $69,900. Those pricing will, without a sure, seem to be a pipe dream by the time the complete launch of the EV truck occurs, which is presumably going to be in 2024.


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A look at North American equities heading in both directions
On the rise
First Capital Real Estate Investment Trust (FCR-UN-T) was higher after activist investor Sandpiper Group launched a proxy battle on Monday aimed at replacing four of nine trustees, the second fund manager to push for changes in leadership and strategy at the underperforming REIT.
Vancouver-based Sandpiper wants to replace the long-serving chair of First Capital, which owns $10-billion of grocery store-anchored shopping malls in four provinces, and three other trustees. Sandpiper, quarterback of several successful dissident shareholder campaigns, also wants to scale back the REIT’s planned property sales and rework its compensation plan. Sandpiper said it may ultimately push for the sale of First Capital.
In October, fund manager Ewing Morris & Co. Investment Partners Ltd. called for First Capital chair Bernard McDonell to be replaced after 15 years on the board. First Capital founder and former chief executive Dori Segal backed the Ewing Morris campaign.
To date, First Capital has resisted calls for changes to its board. In recent months, the REIT announced plans to sell up to $1-billion in properties to fund buybacks of its own units and development projects.
- Andrew Willis
Pipeline operator Pembina Pipeline Corp. (PPL-T) increased as it said on Monday its PGI business has agreed to sell the 50-per-cent interest it holds in Canada’s Key Access Pipeline System for $662.5-million.
Pembina owns 60 per cent of PGI while KKR & Co Inc’s global infrastructure funds hold the remaining 40 per cent.
The deal is expected to close in the first quarter of 2023, subject to approval by the Commissioner of Competition as well as other closing conditions.
The sale came as Pembina says it expects adjusted earnings before interest, taxes, depreciation and amortization between $3.5-billion and $3.8-billion in 2023.
Pembina says the midpoint of the guidance reflects about a 5-per-cent increase in adjusted EBITDA contribution from Pembina’s fee-based business.
The company’s 2023 capital investment program is expected to total $730-million.
Constellation Software Inc. (CSU-T) saw gains after saying it will buy U.S. tech company WideOrbit Inc., merge the firm with its subsidiary Lumine Group and then spin them off into a separate business.
The Toronto software company says the purchase will involve an undisclosed cash payment, as well as the issuance of a 14 per cent stake in the Lumine Group to WideOrbit shareholders.
San Francisco-based WideOrbit develops sales, traffic, billing and broadcast automation software for media companies and has annual gross revenues of roughly US$167-million.
Under the proposed transaction structure, Constellation will remain the majority shareholder of Lumine Group but distribute dividend-in-kind, nominal value subordinate voting shares of Lumine Group to shareholders.
Constellation expects the deal to close in the first quarter of 2023.
The spin out is subject to the approval of the TSX Venture Exchange and acceptance of a final prospectus by Canadian securities regulatory authorities.
Microsoft Corp. (MSFT-Q) gained on news it will buy a 4-per-cent stake worth US$2-billion in the London Stock Exchange Group , in the latest sign of blurring boundaries between Big Tech and financial firms which have raised some concerns among regulators.
LSEG said on Monday the deal would bring a “meaningful” upside to revenues after 2025 from selling more of its existing products via Microsoft apps to broaden the customer base, along with better pricing of products, but it declined to give any specific estimates.
LSEG bought Refinitiv for US$27-billion from a Blackstone (BX-N) and Thomson Reuters (TRI-T) consortium, which turned the exchange into the second largest financial data company after Bloomberg LP.
Microsoft will buy LSEG shares from the Blackstone /Thomson Reuters consortium, the exchange operator said. The deal will make Microsoft the seventh biggest shareholder in LSEG, based on Refinitiv data.
Thomson Reuters, which owns Reuters News, has a minority shareholding in LSEG following the Refinitiv deal. LSEG also pays Reuters for news.
Microsoft’s purchase is expected to complete in the first quarter of 2023.
Deepening ties between the handful of big global cloud companies such as Microsoft, Google, Amazon and IBM, and financial companies like banks and exchanges, have prompted regulators to scrutinize the links more closely.
Microsoft has a longstanding relationship with LSEG, and the exchange group’s Chief Executive David Schwimmer said that about a year ago they began talks on a more strategic relationship.
“It’s a long term partnership. In terms of the products we will be building together, I would expect our customers to start to see the benefits of that 18 to 24 months out and we will continue building from there,” Mr. Schwimmer told Reuters.
LSEG said the link with Microsoft, which gives the software group a seat on LSEG’s board, is a partnership to reap the benefits of “consumption-based pricing,” and not a traditional cloud deal.
“We will continue to maintain our multi-cloud strategy and working with other cloud providers,” Mr. Schwimmer said.
Incremental costs will total 250 to 300 million pounds over 2023 to 2025, with a 50 to 100 basis points impact on EBITDA margin over that two-year period.
Analysts asked Mr. Schwimmer to elaborate on his comment about a “meaningful” upside to revenues from the deal, but he declined to do so.
“This feels like a key milestone in LSEG’s journey towards being information solutions-centric, even if ‘meaningful’ revenue growth specifics are lacking,” analysts at Jefferies said.
Jefferies analysts said the deal could “transformationally” broaden the appeal of LSEG’s Workspace, with a potentially compelling alternative to Instant Bloomberg available for the first time.
Weber Inc. (WEBR-N), known for its domed charcoal grill, said on Monday it had agreed to be taken private by controlling shareholder BDT Capital Partners LLC in a US$3.7-billion deal.
BDT, which has a 48.2-per-cent stake in Weber, will buy all outstanding shares that it does not already own for US$8.05 per share.
The purchase price represents a 60-per-cent premium to Weber’s closing price on Oct. 24, the last trading day before BDT submitted its takeover offer.
Shares of Weber, which have shed nearly half of their value this year, jumped. As of last close, they had risen over 29 per cent since BDT’s proposal.
The special committee of independent directors evaluating BDT’s proposal had unanimously approved the deal, which is expected to close in the first half of 2023, Weber said on Monday.
Palatine, Illinois-based Weber said that as part of the deal, funds managed by BDT will provide the grill maker with an unsecured loan of additional US$350-million.
Weber plans to utilize the loan to repay existing debt and fund working capital for the 2023 outdoor cooking season, among other purposes
Private equity firm Thoma Bravo will buy Coupa Software Inc. (COUP-Q) for US$6.15-billion in cash, the business software maker said on Monday.
Shares of San Mateo, Cal.-based Coupa saw large gains in Monday trading.
Thoma Bravo will pay US$81 per share for Coupa, representing a premium of 30.5 per cent to the stock’s closing level on Friday. The price tag was 77.2 per cent higher than the closing price on Nov. 22, when investors’ interest in the company was first reported.
The all-cash deal, which has an enterprise value of US$8-billion, is the latest in a series of tech acquisitions by Thoma Bravo, which has been snapping up public companies with lower valuations.
Over the last two years, the private equity firm has made a series of acquisitions in the cybersecurity space, including Ping Identity, Sophos, Proofpoint and Sailpoint Technologies.
On the decline
Amgen Inc. (AMGN-Q) slipped on news it is set to buy biotech firm Horizon Therapeutics Plc (HZNP-Q) at a valuation of about US$26-billion in what would be its largest acquisition.
The U.S. biotechnology company has offered about US$116.5 for each Horizon share, according to reports. The offer is at about a 20-per-cent premium to Horizon’s closing price of US$97.29 on Friday.
The news comes after French health group Sanofi said on Sunday that it no longer intends to make an offer for Horizon.
Last month, Horizon Therapeutics - which has a market capitalization of about US$22-billion - had said it was in talks with Amgen Inc, Sanofi and Johnson & Johnson’s Janssen Global Services unit, all three of whom have been active in deal-making this year.
Janssen also pulled out of the race last week, saying that it does not intend to make an offer for Horizon.
Rivian Automotive Inc. (RIVN-Q) tumbled after the company paused its partnership discussions with Mercedes-Benz Vans on electric van production in Europe.
The Amazon-backed company said it will focus on its consumer and existing commercial business as it tries to become cash flow positive in its U.S. operations
Mercedes-Benz Vans said it will invest more than 1 billion euros (US$1.06-billion) to build its first electric-only vans plant in Jawor, Poland, adding that the possible expansion of the plant through a JV with Rivian would not take place.
With files from staff and wires


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Discover 1 story with “Mass Market” Tag.
9 Beers Americans are Rejecting
5 years ago
We have reported that the mass market breweries are experiencing a loss in sales across many of their brands. While craft beer sales are seeing strong growth the big industrial brewers are seeing a very sharp decline in sales. Since


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TiVo Upgrades Roamio
By| August 26, 2014
Targeting consumers without pay-TV services, TiVo launched a new version of its Roamio DVR letting users record shows from ABC, CBS, NBC, Fox and Univision (channel lineup will vary). The service also features streaming apps like Netflix, Hulu and YouTube. Priced at $49.99 and requiring a $14.99 monthly subscription, the service can record up to 75 hours of HD programming from a separately sold broadcast TV antenna. The device will be available at Best Buy stores starting Sept 14.