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Fortune Reversal Seen As Economic Scenario Improves In The West
New Delhi: India’s exports climbed 13% to $26 billion in August and imports fell marginally as gold imports stalled, helping trim the trade deficit to just under $11 billion and provide much needed support to policymakers battling to shore up the rupee.
A widening trade deficit has been a key contributor to India’s record current account deficit. In recent months, lower demand in the US and Europe pulled down export demand, while imports kept rising due to high oil and gold inflows.
A spate of measures announced over the past few months have considerably slowed down shipments of the yellow metal. Trade deficit in August was the lowest since $10.3 billion in March as gold imports declined from $2.2 billion July to $650 million in August, commerce & industry minister Anand Sharma said at a press conference. “The fall in gold imports is not an aberration. It is going down consistently and I expect the trend to continue,” he added. However, crude petroleum imports rose nearly 18% to $151 billion in August as the rise in prices pushed up the bill.
Simultaneously, with the economic situation improving in the West, exports have started rising, prompting the government to talk of a reversal in fortunes. After all, this was the second straight month when the value of shipments out of the country rose at double-digit rates. “All sectors, with a significant share in the export basket, have shown positive growth, barring jewellery. Our concern was engineering, which has returned to positive territory,” commerce secretary S R Rao told reporters.
Despite the recovery in exports, exporters are demanding more sops. “For the last four months garment exports are growing at 11%. To maintain the momentum of growth it is important that manufacturing sector starts picking fast. This is an employment critical sector and government intervention is must to sustain the growth momentum and reach the target set by the government,” said A Sakthivel, who heads the Apparel Export Promotion Council.
Similarly, FIEO chief M Rafeeque Ahmed demanded according priority sector status to export credit, a demand that the commerce department has already placed before the finance ministry and RBI.
The 17th Kenya International Trade Exhibition 2013 is a great opportunity for exporters in India to enter the east African market. The event showcases an Indian Pavilion organized by the Federation of Indian Exports Organization. With over 160 exhibitors from 32 countries, the 17th Kenya International Trade Exhibition is the largest trade show in Kenya.
Sharma said the government is tracking trends on a quarterly basis and may extend a helping hand to the laggards. “We will take a considered view and make intervention to support those sectors, which are lagging behind, and that we shall do it after the review in October.” He, however, ruled out that the rupee depreciation offered significant boost to exporters, arguing that 45% of the input and raw material was imported into the country


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How a company manages your money is the subject of the latest installment of The Times Of India’s Money Management column.
The article explores a company called BizTech that has become a fixture in the Indian tech ecosystem and is one of the biggest money managers around.
It has amassed a $1 billion fortune in revenue since its inception in 2013.
The company has set up a wealth management platform, BizCash, which allows its employees to buy, sell and manage their assets.
The business model, according to a recent article in Quartz, is simple.
Employees are able to open a Biz Cash account with the company, which they can manage by purchasing a certain amount of shares of a company.
If a company reaches a certain number of shares in a given year, the employee gets paid a certain percentage of the company’s earnings.
For a few months, employees get to invest in the company and invest their own money in the shares.
If the company does well, the employees get bonuses, and if the company loses money, the company gets a lump sum of money from the employees.
The employees can also buy shares on other platforms like the stock exchange.
According to Quartz, BTech has made money since it was founded, which is why it is one to watch.
Its success is being driven by the combination of its smart technology and a well-functioning platform.
This smart technology has also helped it earn a hefty amount of money.
BizTech has invested in a number of startups that are currently going global, including Flipkart, Uber, Paytm, Instacart, Myntra, Snapdeal and Wipro.
The growth of the Indian e-commerce market is also being seen by BTech, which has raised an additional $2.6 billion from a number to its $1.9 billion in cash.
This success story, however, is not without its challenges.
For starters, the technology is not yet widely used.
This means that the technology will need to be expanded.
In addition, it is a very new technology and will require some significant investments in the infrastructure to operate.
While these hurdles are being met, BZT has a few big challenges to overcome.
First, the financial model has not yet been established.
In other words, BNT has yet to get into the same category as Biztech.
It needs to invest its money and grow its business.
Second, BNTS has yet no experience with online trading.
Finally, the business model of BNT is not as efficient as that of Biz Tech.
These are the challenges BNT will have to overcome in order to become a global financial leader.
To better understand how BNT handles its money, Quartz asked a number people in the industry about its business model.
The first question that comes up is the question of whether BNT should be a money manager.
For a start, Bnt does not offer any financial services, which means it is not a money market.
The people who work at BNT say that it has a more strategic approach to its business and that it is focused on improving its financials.
For example, the people say that BNT does not use its money to buy shares in other companies or to invest money in itself.
Instead, Btnd invests the money in its own assets.
According to BNT, it has invested $1,000 crore in its core business in 2017.
However, the majority of the money that it spent in 2017 was on acquiring additional assets.
This is not the first time that Bnt has faced such a dilemma.
The past two years have seen it struggle with a high cash flow.
In 2017, it had a $6.5 billion deficit.
The most pressing problem was the issue of its cash flow, which had been increasing.
The cash flow crisis in 2017 caused the company to raise a further $2 billion to cover its costs.
In 2018, Btn took a big hit from a $4 billion tax bill.
These issues led the company into a deep debt crisis.
In the first quarter of 2019, the BNT revenue grew to $2,000 million from $1 million.
In 2019, Bts cash flow grew to about $7 million from a deficit of $2 million.
According the Bnt management team, the growth of revenue in the first half of 2019 was due to the combination with acquisitions.
The management team says that Bts revenue is expected to reach $5.2 billion by 2021 from $4.5 million in 2020.BNT is also facing a challenge with its ability to invest.
According a person familiar with the matter, the revenue generated by BNT was about $1 for every $1 of revenue generated in the year.
The person added that this has been a tough period for BNT.
The second issue that comes to mind is the money management.

domain: news


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Bid-allottee data from the IPO showed that Goyal applied for 3.08 Lakh shares but was allotted only 33,422
Goyal’s allotment of the D2C unicorn’s shares comes as retail investors seemed least interested in Mamaearth’s IPO
The startup plans to raise up to INR 1,700 Cr via its IPO at a valuation of $1.2 Bn
The cofounder and CEO of Zomato, Deepinder Goyal, has been allotted 33,422 shares in the public issue of Honasa Consumer, the parent company of beauty D2C unicorn Mamaearth.
Bid-allottee data from the IPO showed that Goyal applied for 3.08 Lakh Mamaearth shares but was allotted only 33,422, Moneycontrol reported, citing a source.
The development comes as Mamaearth is set to list on the bourses on November 7, after mopping up INR 765.2 Cr from 49 anchor investors on October 30.
Some of the prominent investors that backed the funding round include names like Smallcap World Fund, Fidelity, Abu Dhabi Investment Authority, Government Pension Fund Global, Caisse De Depot ET Placement, FSSA India Subcontinent Fund, Carmignac Portfolio, Goldman Sachs, Hornbill Orchid India Fund, et al.
Mamaearth’s public issue was oversubscribed 7.61X on the last day on the back of huge demand from qualified institutional buyers (QIBs). The issue received bids for 22 Cr shares as against 2.89 Cr shares on offer. While 1.57 Cr shares were on offer for the QIB category, it received bids for 18.11 Cr shares and was oversubscribed 11.5X.
Overall, foreign institutional investors (FIIs) placed bids for 14.88 Cr shares. On the other hand, the non-institutional investors’ (NIIs) category was oversubscribed 4.02X at the end of the last day. Of the 78.72 Lakh shares on offer for the category, it received bids for 3.17 Cr shares.
Incidentally, Goyal’s allotment of the D2C unicorn’s shares comes as retail investors seemed least interested in Mamaearth’s IPO. The portion reserved for them was oversubscribed by only 1.35X. Retail investors placed bids for 70.67 Lakh shares as against 52.48 Lakh shares on offer for the category.
The startup plans to raise up to INR 1,700 Cr via its IPO at a valuation of $1.2 Bn. Mamaearth’s public issue comprises a fresh issue of shares worth INR 365 Cr and an offer for sale (OFS) component of 4.12 Cr shares. The IPO price band was set at INR 308-INR 324 per share.
Founded in 2016 by Varun and Ghazal Alagh, Honasa Consumer, the parent of Mamaearth, owns four beauty and personal care brands — The Derma Co., Ayuga, Aqualogica and Dr Sheth’s.
Post its listing, the company would become the fifth new-age tech startup after ideaForge, Yudiz, Zaggle, and Yatra to go public this year.


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# Mario Batali
When it comes to pizza, Los Angeles holds its own
Mario Batali will open a second New York City location of Eataly in 2015
All of Eataly Vino's stock in on sale for 25 percent off!
Batali and Bastianich settled with the New York State Liquor Authority and agreed to close Eataly's wine shop for six months
Mario and Joe have been partners a long time, and many think that this SLA setback is just a minor hiccup in their empire.
Mario Batali's New Haven restaurant may be open by the end of summer 2014
The 2014 James Beard Foundation Awards will be hosted by Mario Batali and Ted Allen.
Mario Batali, Christina Tosi, and Karlie Kloss were among attendees for the annual 'Chefs for Kid's Cancer' benefit
Alex Guarnaschelli tweeted about liking the taste of black garlic, a sweeter version of the regular kind.
The Italian food superstore finally opens its doors


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John Pappajohn and his wife, Mary, have fared well with an investment in Cancer Genetics, a New Jersey company that has developed tests for several types of cancer.
John Pappajohn has a golden touch with investments in medical technology.
Pappajohn, 85, is the largest investor in Cancer Genetics, a Rutherford, N.J., company that started selling on the Nasdaq Capital Markets on Aug. 14 at $10 a share. The stock has risen as high as $23.25, and on Monday it closed at $20.26.
Pappajohn owns 2.34 million shares. That means his investment has grown more than $24 million in value in about seven weeks. ...


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On November 16th and 17th, the Port of Barcelona will celebrate the third edition of Smart Ports: Piers of the Future! It will be 100% online and free, broadcasted via Smartports.tv. The event is organized by the Port of Barcelona in partnership with the Port of Antwerp, Busan, Hamburg Port Authority, Port of Los Angeles, Port of Montreal and Port of Rotterdam, as part of the Smart City Expo World Congress.
More than 40 speakers will present the most innovative projects and will take part in discussions, under the SMART acronym: sustainability, multimodal, agility, resilience and transparency.
Sign up now and enjoy a leading industry event, plus content on demand 24/7 all year round at www.smartports.tv
SMART PORTS: Piers of the Future 2021 (November 16th and 17th)
Afterwork Septiembre 2023 | Pier01 – Tech Barcelona
Por Tech Barcelona


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Zomato along with it’s Q2 FY 22 results also announced that it has committed $275 mn across four start-ups in the last 6 months and will deploy another $1 billion over the next one to two years.
Four investments of $275 mn –
- $100 mn for 9.3% stake in Grofers
- $50 mn in Curefit along with another $50 mn in kind via sale of it’s sports start-up Fitso to Curefit – against 6.4% stake in Curefit at valuation of $1.66 bn
- $75 mn in logistics company Shiprocket for an 8 per cent stake as part of a larger $185-mn round
- $50 mn in e-commerce start-up Magicpin for 16 per cent stake as part of a $60 mn round
Though the communication is that the investments will be focused towards quick commerce space – it’s a very wide definition.
Zomato definitely seems to be taking a leaf out of Info Edge’s book (Zomato’s key investor from early days currently holding 15.23% of Zomato). That’s the way Info Edge has evolved over the years and created wealth for it’s shareholders. It’s promoter Sanjeev Bikhchandani (and hence also an advisor to Zomato) understands this strategy very well.
The strategy seems to be – Keep running the core business and simultaneously invest across the start-ups.
Some are bound to do well and hence will help in keeping investor’s alive in the overall entity. The core food delivery business’s future – only the time will tell. So why to keep all eggs in one basket. Let investors keep guessing.
It’s a decent strategy and frankly nothing wrong.


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That having been said, we understand that exchanging cash means getting closer to a person and you want to be safe.
Unfortunately, many folks around South Africa still get paid wages in cash and for many of those folks, banks could be closed by the time they want to make a deposit.
This leaves people vulnerable to criminals.
Enter Efficacy Payments, a local fintech firm that has a clever way to enable deposits for people at till points.
The solution is called Deposit @ Till and following a successful rollout at Pick n Pay stores, the solution is headed to Boxer stores as well.
To make this possible, Efficacy Payments partnered with Transaction Junction, Visa, Mastercard and Bankserv Africa.
As you might imagine, the service works so long as your bank plays ball. There are currently 10 banks that support Deposit @ Till with more being added continuously.
Managing director of Efficacy Payments, Andrew Marsh, says that more retailers are being brought on board as well.
“Expanding access to deposit facilities at the retail point of sale also alleviates some of the pressure on bank branches and ATMs while driving additional foot traffic into retail stores,” says Marsh.
“As consumers and businesses adapt to the new post lockdown reality, banks, retailers and consumers will continue to seek greater choice in how financial services are offered. We believe we will see more partnerships that bring together large retailers and banks as well as smaller innovators to deliver new forms of value to customers during these challenging times and beyond. Pick n Pay’s Deposit @ Till is the start of the journey – we have a number of further innovative solutions currently under development,” adds the MD.
[Image – CC 0 Pixabay]


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Greece’s biggest toy retailer Jumbo on Monday posted a 7 percent rise in profit for the nine-month period ending in March and reaffirmed its forecast for a 4-6 percent rise in full-year sales despite tough conditions in Greece.
Despite a six-year recession in Greece, Jumbo has fared well, helped by its expansion into foreign markets.
The chain, which has 52 stores in Greece and 18 in its three overseas markets in Cyprus, Bulgaria and Romania, said group net profit rose to 74.5 million euros in the nine months to March.
That compares with a profit of 69.5 million in the same period a year ago. Jumbo announced last month an 8.6 percent rise in nine-month sales to 446.1 million euros.
The group said on Monday that results were boosted by better cost management and higher sales, partly due to an earlier celebration of the Greek Orthodox Easter on April 12.
Jumbo has opened five stores in Greece, Cyprus and Romania since July last year and plans to open another two by July.


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Notebookitalia took some time to get a demo of the Lenovo at a CES 2013 yesterday evening and the video reveals that itâ€™s shipping now and will be available in Q1. The is still listed as â€˜coming soonâ€™ on the Lenovo USA web site.
- Confirmed battery in keyboard dock. (quoted at 16hrs total)
- 11.6â€ HD (1366×768) IPS display.
- max 64GB eMMc storage
- Total weight: 1300gm (about 3lb distributed 50:50 between dock and tablet)
- Micro-HDMI, Micro-USB, Micro-SD on tablet. 2xUSB2.0 on dock.
In Europe Iâ€™m seeing the tablet for pre-order at 599 Euros (32GB storage) and the dock at 149 Euros. Availability in Germany looks like January.
Thereâ€™s an official Lenovo unboxing here.


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“‘When we were an agrarian nation, all cars were trucks, because that’s what you needed on the farm,’ Jobs said at our D8 conference in 2010. ‘But as vehicles started to be used in the urban centers, cars got more popular. Innovations like automatic transmission and power steering and things that you didn’t care about in a truck as much started to become paramount in cars. … PCs are going to be like trucks. They’re still going to be around, they’re still going to have a lot of value, but they’re going to be used by one out of x people,'” John Paczkowski reports for AllThingsD.
“At the time that remark was a bit contentious, but like many Jobs predictions, it would prove prescient a few years later,” Paczkowski reports. “To wit, the latest PC shipment forecast from NPD DisplaySearch, which predicts tablets will outship notebooks this year.”
Paczkowski reports, “The consumer tablet market isn’t even three years old yet, but it’s already poised to surpass the market for laptops. And by such a significant amount — nearly 16 percent. Jobs said the day would come when only one out of every few people would need a traditional computer. Hard to believe it’s arriving so quickly.”
Read more in the full article here.
MacDailyNews Take: It was only contentious to those who make/made their livings peddling PCs. It’s not rocket science: The things for which the vast majority of people use/used personal computers is easily accomplished with an iPad. PCs are overkill for the vast majority of people, just like an 18-wheeler is vs. a car/SUV.
[Thanks to MacDailyNews Readers “GetMeOnTop” and “Dan K.” for the heads up.]


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“We were still optimistic a few months ago,” said Ms. Pierre. “But as October approached, we realized that we didn’t feel comfortable doing all of this. And it was like it wasn’t responsible for doing it during a pandemic.
Even with the celebrations adjusted, Party City and Spirit Halloween stores in Manhattan and Queens in the week leading up to the holidays were filled with energetic crowds. In some places, customers were even lined up outside and faced with expectations because the stores, allowing social distancing, had reached their maximum capacity.
And during a Spirit Halloween on the Upper East Side of Manhattan, it was evident that for some of the younger celebrants, the magic of Halloween would not be lost even during a pandemic.
Between shelves of witch’s brooms and zombie makeup kits, an eight-year-old boy ran to his mother on Wednesday afternoon with his hands full of costume bags and accessories.
“I can’t decide,” the boy, Myles, shouted at his mother, Melissa Ramon of Harlem.
After a short back and forth, the two entered the queue. “Apparently there are going to be three things for Halloween,” Ms. Ramon said with a laugh. She showed off her son’s choices: a Freddy Fazbear costume, a Captain America shield, and a slew of unrelated accessories.
Despite the limited festivities this year and a normally more selective costume budget, she said, helping her son celebrate the holidays during tough times was worth it.
Myles left the beaming store.


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The manufacturing sector has recorded a 52 per cent increase in unsold finished goods in six months, a new report by the Manufacturers of Nigeria has shown.
This was despite a 32 per cent (N1.31tn) decrease in the manufacturing sector factory output in the second half of 2022, when compared with N3.99tn recorded in the preceding half of the year.
These were contained in the Manufacturers Association of Nigeria’s Bi-Annual Economic Review report obtained by The PUNCH.
The document presented the summary of the findings of the survey of the manufacturing sector by the Manufacturers Association of Nigeria for the second half of 2022.
According to the report, the value of manufacturing production was N6.67tn in 2022 as against N7.39tn recorded in 2021.
The report said manufacturing production was severely affected in the second half of 2022 by the absence of implementation of new capital projects by the government as the general elections drew closer.
Production in the sector was also said to have been negatively affected by limited purchases by households due to the naira redesign policy, high inflationary pressure, high cost of energy, particularly diesel and gas, acute shortage of forex for importation of raw materials and machinery needs of the sector, among others.
The report partly read, “Inventory of unsold finished products in the manufacturing sector increased to N282.56bn in the second half of 2022 up from N169.75bn recorded in the corresponding half of 2021; thus, indicating N112.81bn or 66 per cent increase over the period.
“It also increased by N85.46bn or 51 percent when compared with N187.1bn recorded in the first half of the year. Inventory of unsold goods in the sector totaled N469.66bn in 2022 as against N384.58bn recorded in 2021. The high inventory recorded in the period is attributed to low purchasing power in the economy due to the declining real income of households following the continuous increase in inflationary pressures in the country. This is worsened by the Naira Redesign policy which began in the last quarter of 2022.”
According to the report, capacity utilisation in the manufacturing sector declined to 54.9 per cent from 59 per cent recorded in the corresponding half of 2021; thus, indicated 4.1 percentage points decline over the period.
Quarter-on-quarter, it declined by three percentage points when compared with 57.9 per cent recorded in the first half of the year. Manufacturing capacity utilisation averaged 56.4 percent in 2022 as against 55.9 per cent average of 2021.
The report also noted that there was an increase in local raw materials utilisation in the sector during the period due to increased difficulty in sourcing forex which compelled manufacturers to look more inward for raw materials notwithstanding the associated huge cost.
On investments into the sector, the report said manufacturing sector investment dipped to N145.59bn in the second half of 2022 down from N160.88bn recorded in the corresponding half of 2021; thus, indicating N15.29bn or 10 per cent decline over the period.
It further declined by N32.8bn or 18 per cent when compared with N178.39bn recorded in the first half of the year. Manufacturing investment totaled N323.98bn in 2022 as against N305.02bn recorded in 2021.
Investment in the period, according to MAN, was affected by the high debt profile of the government which particularly deters foreign investment, high cost of borrowing, high cost of energy, and low consumption during the period.
Also, in the second half of 2022, manufacturing employment dipped to 6741 down from 8508 and 9559 recorded in the corresponding half of 2021 and the first half of 2022 respectively.
“The decline in the number of jobs created in the sector during the period corroborates the poor operating business environment that was perverse with high energy cost, exorbitant cost of borrowing, high inflation, low sales due to limited cash,” the report read further.
Stakeholders react, speaking exclusively with The PUNCH, the Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, cited forex scarcity, rising energy costs alongside other biting challenges as the primary cause of the dip in production output and drop in the volume of sales.
Ajayi-Kadir also noted that due to the challenges confronting the sector, both local and foreign investors have lost confidence in the economy; and, as a result, have elected to withdraw investments in the sector.
He said, “Production activities were reduced because of the environment; many companies, because of the prevailing situation — forex, power and so on, had to cut down on production. Many that were running up to three to four shifts had to reduce to two or one.
“To that extent, we had a dip in capacity utilisation. At the same time, the disposable income of the average citizen is also reducing. So, we now have a combined situation where, even with the little we produce, we are not able to sell. Even for local investors, most of the investments that we talk about are actually expansions — people adding new brands to their portfolios. Others engage in more diverse operations or go into new areas. But, there is no incentive to do that.
“The returns on investments on the current ones are what the would-be investors will look at. We have continued to say that the government’s efforts in sourcing foreign direct investments are almost tantamount to illusion because there is hardly any investor that will invest in an economy just because they were invited to do so. They scan the environment, they ask manufacturers what the situation is. It is only when you see that those operating in the environment are successful that you have the encouragement to come and invest.”
In the same vein, the Deputy-President of the Lagos Chamber of Commerce and Industry, Gabriel Idahosa, blamed a dramatic spike in the production costs of manufacturers in 2022 as a major factor behind the decline in manufacturing output.
According to him, the spillover effect of the Russia-Ukraine war, particularly its impact on energy prices and disruptions in supply chains placed a serious strain on manufacturing activities.
Idahosa said, “These figures capture what has been happening on the ground. The big economic picture is now coming home to reality to show the experience of various players in the industry. For the manufacturers, once the power situation continues to deteriorate rather than improve, most manufacturers spend more on self-generation. Self-generation cost has almost quadrupled, from almost N200 to N800 when the Ukraine war started.
“The same Ukraine war affected the exchange rate. The exchange rate jumped from N400 to N700. Manufacturers are paying a lot more for energy because of the increase in the price of diesel.
They also pay about double for forex because of imported inputs, whether they are raw materials, machinery, maintenance parts and even some technical services.
“So, we have these three huge increases in cost. On the market side, Nigerians are getting poorer. Inflation is reducing their buying power. They cannot buy what manufacturers are producing. A lot of manufacturers will tell you their warehouses are full because customers want to buy but they don’t have the money to buy. All these are adding up to these dramatic figures we are seeing.”
Also speaking, a public policy economist at the Pan-Atlantic University, Lagos, Olusegun Vincent, said the inflationary pressure, which affected the economy across the board weakened purchasing power and also affected manufacturers’ ability to optimise production activities.
Vincent said, “The poor earning power of Nigerians accounted for it. Obviously, inflation has taken quite a substantial part of our disposable income.”


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Was 2020 The Year Driverless Cars Became Inevitable?
Many autonomous vehicle advocates will probably think of 2020 as the year that "driverless" tech got a disappointing reality check. But history might remember it as the year that robocars became a fait accompli — but for safe streets advocates, 2021 must be the year they get put in their proper place: at the bottom of our transportation hierarchy.
To hear most media pundits tell it, robocars have had a wild ride in 2020 — and arguably, a fall from grace. Secretary of Transportation Elaine Chao kicked off January at a splashy consumer electronics show in Las Vegas, where she announced a new set of regulatory "guidelines" that essentially gave the industry an enthusiastic thumbs up to test the nascent technology on American streets with only voluntary, self-administered safety assessments.
But despite Chao sending them off to the races — and a global pandemic that many experts initially thought would speed the advent of driverless delivery — AV companies sputtered. By late April, industry insiders were confiding that the economic downturn coupled with delays in crucial on-road testing could push back the commercial debut of autonomous vehicles on our roads by four to six years; by December, e-taxi giant Uber had foisted its notorious AV division off onto start-up Aurora after reportedly losing hundreds of millions of dollars developing the technology.
It was only the latest in the wave of consolidations in an industry whose leading experts once estimated that there would be 10 million fully self-driving cars on our roads by the end of this year. Instead, there are zero.
But there's another way to tell the story of the autonomous vehicle industry in 2020: as the year the industry planted the seeds for what could be a dramatic and potentially dangerous reshaping of American streets.
Just before the pandemic struck, Chao's DOT made good on its promise to greenlight as much AV development as possible by allowing delivery company Nuro to begin testing the first delivery vehicle without a steering wheel, brake pedals, or crumpling windshield on U.S. roads; this week, Amazon-owned autonomous vehicle company Zoox revealed an eerily similar robo-taxi without any of those safety features, either. Zoox's vehicle will be able to travel a whopping 75 miles per hour when it makes its debut on U.S. roadways.
Zoox probably won't reach such deadly speeds immediately, but driverless e-taxi company Cruise is sending autonomous cars capable of high speeds onto the streets of San Francisco now, albeit only in limited nighttime trials and with a human passenger standing by to override the vehicle's autopilot. Unlike Zoox, Cruise's autonomous vehicles do have a steering wheel, brakes, and other basic safety features that a human driver could ostensibly use to take control; still, the company sat its human backstop in the passenger seat with a "kill switch" in his hand instead.
Even Uber's famed exit from the autonomous vehicle space wasn't exactly an indication that the company had given up on its dream of eliminating (already disturbingly low) driver wages from its list of expenses, despite countless headlines that claimed otherwise. Rather than selling off its AV division, the e-taxi giant actually gifted it to startup Aurora, and then invested a further $400 million into the smaller company to speed the development of its vehicle fleet. In the process, CEO Dara Khosrowshahi also joined Aurora's board, functionally guaranteeing that Uber will continue to throw its lobbying dollars towards maintaining lax federal regulations on the new technology. And Uber is not alone: Aurora's other investors include even larger giants like Amazon and Toyota, which are, of course, also invested in a range of other AV-startups that could potentially increase their companies' profit margins if the tech scales.
"Autonomous vehicles were a lot more expensive and complicated to develop than anyone thought they'd be," said Rob Ackerman, a Wyoming-based venture capitalist. "It seems pretty clear that Uber is moving money around on a balance sheet. ... Now that they're a public company, this is a good way for them to reduce risk to their investors by basically outsourcing their research and development to a smaller player. I don't think this move will slow the development of this tech at all."
That's a far cry from 2018, when many speculated that Uber would abandon AVs altogether following the horrific death of pedestrian Elaine Herzberg under the wheels of one of the company's autonomous vehicles. (In another 2020 low point, the human backstop driver who was behind the wheel of Uber's AV at the time of the crash — not the company that supplied her with a dangerous car with multiple disabled safety mechanisms — was charged with Herzberg's death.) And Silicon Valley's paper-shuffling aside, most experts agree that transportation companies will continue to pump money into AV development for one simple reason: they can't afford not to.
Despite classing its employees as contractors to avoid paying towards their healthcare, social security and other basic employer-sponsored protections, e-taxi companies still pay drivers billions every year, which is one reason they're still struggling to turn a profit. Traditional automakers, by contrast, are likely anticipating a day when our inconvenient climate change reality brings about the end of private vehicle ownership as we know it, and are hoping they can at least populate our streets with autonomous, electric e-taxis before our nation gets too comfortable with actually green modes like transit, biking, and walking.
But the AV industry's relentless march to market doesn't necessarily mean that our country is destined to simply trade run-of-the-mill car dependence for autonomous car addiction. Recently, a broad coalition led by the Advocates for Highway and Auto Safety released a list of tenets "to guide federal legislation and policy on the development and deployment of AVs" that the group is hoping the next administration will look to as it, hopefully, rebuilds the regulatory framework surrounding new the new technology. Crucially, the tenets include the preservation of consumer and worker rights, as well as protection for all road users — two things that haven't exactly been a priority in the autonomous vehicle rollout so far.
And ideally, such regulations wouldn't just keep dangerous robocars off the road before they're ready. They'd also prevent American communities from treating autonomy as a silver bullet for road safety — at the expense of a more complex slate of reforms designed to combat car dependence, which has countless noxious effects on society beyond safety and emissions alone.
"Automated vehicles have the potential to decrease transportation emissions — or make them worse," said Scott Goldstein of Transportation for America, which is a member of the coalition. "With thoughtful policy, AVs can serve as an important connection, bridging the gaps in public transit and walking and cycling infrastructure. [But] alternatively, AVs may increase our emissions and worsen congestion by incentivizing sprawling development, further cementing driving as many Americans’ only transportation ‘option.’ We need to ensure that AVs do not incentivize spread-out land use patterns and therefore the development of more communities where it is unsafe or inconvenient to take transit, walk, or bike.”
Of course, some aspects of autonomous vehicle technology can save lives right now — or could, if federal safety standards required automakers to use them. Automatic emergency braking systems, blind spot detection, and lane departure warnings are all proven to help drivers avoid crashes, without providing so much assistance that drivers feel compelled to (literally) fall asleep at the wheel of imperfect autopilot systems.
In 2021, perhaps the most important question about autonomous vehicles is whether we'll pass regulations that put such proven technologies in every new human-operated car we put on the road. And we should also be asking ourselves how we can shape policy next year that puts even perfect autonomous vehicles where they should have been all along: at the very bottom of our roadway hierarchy, reserved exclusively for the people and trips that truly require a car.
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Cult indie brand Morphe has landed a retail deal with e-commerce beauty site Feelunique.
The online retailer is set to stock a range of the brand’s hero products including its hero 35-pan eyeshadow palettes.
Also available will be Morphe’s collaborative collections with MUA influencers James Charles and Jeffree Star, and former Dance Moms star Maddie Ziegler, which hit shelves last month.
Today, the brand is available online via Cult Beauty, Pretty Little Thing and Lookfantastic.
Over the last 18 months, the brand has directed its attention to expanding its bricks-and-mortar presence in the UK.
The announcement also comes less than 12 months after Morphe landed a space on-shelf at Boots, the brand’s first in-store partner outside of its own branded stores.


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Hong Kong has one of the most saturated and advanced broadband markets in the world. Finding new areas of growth is difficult but not impossible, says Hong Kong Broadband owner CVC Capital Partners
Hong Kong residents are generally blessed with good internet connections. The territory has highly sophisticated telecom market with fixed-line broadband penetration of 84.5% and average connection speeds...
PAI Capital, a Hong Kong and London-based asset manager that primarily caters to high net worth individuals (HNWIs), has paid RMB1.45 billion ($212 million) for a 24.22% stake in Vtron Group, a Shenzhen-listed video display systems manufacturer.
Vietnam’s VinaCapital and Japan’s Daiwa PI Partners have sold the remainder of their interest in Vietnamese dairy producer International Dairy Products (IDP).
A consortium led by China Resources Capital (CR Capital) has agreed to acquire a 65% stake in Hong Kong retail and supermarket operator City Super Group.
Indian online used car marketplace Spinny has acquired local counterpart Truebil, setting up several venture capital exits.


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AT&T data breaches exposed about 280,000 U.S. customers' names and full or partial Social Security numbers, the government said.
The company agreed to pay a $25 million civil penalty to settle an Federal Communications Commission investigation into the consumer privacy violations, the agency said Wednesday.
The breaches occurred at call centers used by AT&T in Mexico, Colombia, and the Philippines when employees accessed sensitive customer data without adequate authorization. Those employees took payment from third parties who were apparently interested in customer names and Social Security numbers so they could unlock stolen cell phones for sale on secondary markets, the FCC said.
The investigation found that three call center employees in Mexico accessed more than 68,000 accounts without authorization, so the third parties could submit more than 290,000 unlock requests through an AT&T online portal, the agency said. Over the course of the investigation into that breach, the FCC also discovered that approximately 40 company employees in the Philippines and Colombia had accessed about 211,000 customer accounts for the same illicit purposes.
"As the nation's expert agency on communications networks, the Commission cannot—and will not—stand idly by when a carrier's lax data security practices expose the personal information of hundreds of thousands of the most vulnerable Americans to identity theft and fraud," FCC Chairman Tom Wheeler said in a press release.
As part of its settlement with the FCC, AT&T agreed to notify all customers whose accounts were improperly accessed, and to pay for credit monitoring services for those customers affected by the breaches in Colombia and the Philippines, the agency said.
The telecom also assented to improving its security practices and regularly filing compliance reports to the FCC, according to the release.
Read MoreAT&T shareholders should rejoice at Dow removal
"Protecting customer privacy is critical to us. We hold ourselves and our vendors to a high standard," an AT&T spokesman told CNBC.
He added that the company is terminating some of its vendor sites "as appropriate." AT&T has changed some security policies and is reaching out to affected customers to provide additional information, he confirmed.
—CNBC's Ryan Ruggiero contributed to this report.


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Walmart Inc., No. 3 in the 2019 Digital Commerce 360 Top 1000, and robotics company Nuro Inc. will test making grocery deliveries using driverless vehicles.
Nuro, which makes autonomous delivery vehicles designed to operate on public roads, says the service will start “in the coming months” in Houston, Texas. Autonomous deliveries initially will be available to customers who opt into the test program. The goal will be to expand robotic delivery to the general public later in 2020, Nuro says.
The robotic deliveries will start from one Walmart Neighborhood Market using Toyota Prius cars outfitted with Nuro’s self-driving software and hardware, a Walmart spokesman says. Those vehicles will each have a person on board. Later, the service will add Nuro’s R2—a custom-built delivery vehicle. The R2 carries only products with no on-board driver or passengers, but Nuro will have remote operational control of the unmanned vehicle. Like the modified Prius cars, Nuro’s robots operate on public roads.
Walmart has not yet set a specific start date for the test program. The Nuro technology is just one of many Walmart is testing, the spokesman says.
“We believe this technology is a natural extension of our grocery pickup and delivery service and our goal of making every day a little easier for customers,” wrote Tom Ward, Walmart’s senior vice president for digital operations, in a blog post.
Walmart currently operates 3,100 pickup locations for grocery orders made online and offers deliveries of such orders from more than 1,600 stores. The retail giant’s “online grocery footprint” employs more than 50,000 personal shoppers, Ward wrote.
Using the R2, a retailer’s employees load online orders into compartments of the vehicle, which then drives itself to a customer’s home. When the order arrives, the customer receives a notification from a mobile app that the self-driving robot is outside. The customer then uses a PIN to open the appropriate compartments and retrieve their order.
The retail chain chose to do the test in Houston because it’s a place with complex traffic patterns, which means grocery delivery could make a significant difference for customers, the Walmart spokesman says. The average Houston resident experiences a commute of around 60 minutes each way every day, and “we hope to give them some of their time back by offering this delivery service to some of them,” he says.
Retailers looking to use radical technologies like robotic delivery should tread carefully, says Arpit Jain, vice president of cross-functional delivery and capabilities at Nerdery LLC, a digital business consulting firm.
These days, “technology is being looked upon to provide convenience—versus a decade or so ago when technology was being leveraged more so for solving problems only. If a company provides a solution using technology for convenience and it doesn’t work, it will end up having more negative effects than not providing that convenience in the first place.” Jain says.
Jain trusts that Walmart has done the kind of behind-the-scenes work needed to make robotic delivery work. But not all retailers are Walmart. “Companies working to provide [robotic delivery] should really pressure-test these solutions for a variety of ‘what if’ scenarios for consumers to make sure it’s ready for game time,” Jain says.
In teaming up with Nuro, Walmart joins Kroger Co. and Domino’s Pizza Inc., which also are testing Nuro’s autonomous delivery technology. Since late 2018, Kroger has used Nuro vehicles to deliver ecommerce grocery orders to customers in Scottsdale, Arizona. The grocery store chain later expanded the test to include Houston. Domino’s started testing the technology, also in the Houston market, in June.
According to Crunchbase data, Nuro has raised more than $1 billion from investors since it launched in 2016. In February, Nuro received $940 million in a Series B funding from the SoftBank Vision Fund, a London-based subsidiary of SoftBank Group. In January 2018, Nuro raised $92 million in a Series A round. The investors were Menlo Park, California-based Greylock Partners and China’s Gaorong Capital.Favorite


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Pakistan Super League (PSL) has started with the inaugural match of the first edition of the T20 league taking place today. Local and international fans have been eagerly waiting and the hype has reached its peak in anticipation of the 24-match event.
We recently reported that PSL management has offered fans to stream live cricket matches for free. Today, we come with details about the official PSL apps for Pakistani cricket fans. Two of the 5 participating teams, Karachi Kings and Peshawar Zalmi have also released official apps for Android smartphones.
PSL Official App:
Pakistan Super League’s official app is a gateway to everything PSL. The app comes with live match streaming, live score, ball-by-ball commentary, complete scorecards and points tables, fixtures, and results. Other than that, everything related to PSL like teams, squads, latest news, videos and photos are also showcased in the app.
The app also comes with support for the PSL Fantasy League. Players can make their dream team and compete with their friends from within the app. Winners of the fantasy league will be offered exciting prizes. Those willing to participate can take part any stage of the tournament by signing up for an account from the PSL website or from the app.
PSL’s official app will give cricket fans access to official league merchandise via its online shop. Other than that users will be able to view team and player stats, view match reports, match analysis and behind the scenes coverage.
In short, it’s a fun way to stay updated with Pakistan first T20 cricket league. The app can be downloaded from the Play Store here. The rest can visit the PSL-T20 website using their Smartphones or PCs.
Karachi Kings Official App:
ARY group has launched the official app for Karachi Kings. Fan of the team, which represents a city of over 20 million and the province of Sindh, can stay updated with the latest info about their team via the app.
The app’s UI may be based on the aged Holo design, but the app offers fans with a platform where they can get to know everything about their favourite team. Users can access Karachi Kings’ Twitter, Facebook and Instagram account feeds straight from the app. There are a few categories which show team players, management, brand ambassadors and celebrities associated with the team.
Karachi Kings official app is also a portal to the latest news and videos related to the team. The app can be downloaded from Play Store here.
Peshawar Zalmi Official App:
Haier sponsored Peshawar Zalmi recently released their official app for Android devices. Zalmi fans will surely love the app’s layout and its representation of the team’s logo “My team”. The app offers much more to Zalmi fans and they can stay connected with their favourite team’s schedule.
Zalmi app comes with a regularly updated News section which details every single bit of information about the team’s players, supporters, management and prize competitions along with pleasant looking photos and graphics.
The app also comes with players’ profiles, match schedule, points table, and results section. There is a separate section for fans to buy Zalmi merchandise and souvenirs. However, the section seems to be under development at the time of writing. Fans can also sign in to customise the app. The side menu also gives access to Zalmi songs and anthem along with a dedicated photo gallery.
Peshawar Zalmi’s official app can be downloaded from the Play Store here or the Apple iTunes here.


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Royal Caribbean Cruises Ltd (NYSE:RCL) has been given a consensus rating of “Hold” by the fifteen ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $144.73.
Several brokerages recently issued reports on RCL. Wedbush reiterated a “buy” rating on shares of Liquidia Technologies in a report on Thursday, May 2nd. Nomura cut their price objective on Signet Jewelers from $28.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Buckingham Research increased their price objective on Royal Caribbean Cruises from $148.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Deutsche Bank lowered Hilton Hotels from a “buy” rating to a “hold” rating and set a $92.60 price objective for the company. in a report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a report on Monday, April 15th.
In other Royal Caribbean Cruises news, SVP Henry L. Pujol sold 4,134 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $128.20, for a total transaction of $529,978.80. Following the transaction, the senior vice president now directly owns 45,342 shares of the company’s stock, valued at $5,812,844.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $110.22, for a total transaction of $2,204,400.00. Following the transaction, the chief executive officer now directly owns 910,639 shares in the company, valued at $100,370,630.58. The disclosure for this sale can be found here. Insiders have sold 26,834 shares of company stock worth $3,075,902 over the last three months. Company insiders own 13.07% of the company’s stock.
Shares of RCL traded down $0.94 during mid-day trading on Friday, reaching $110.82. The company’s stock had a trading volume of 22,085 shares, compared to its average volume of 2,114,849. The company has a fifty day moving average price of $118.19. The company has a market cap of $24.02 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.03 and a beta of 1.32. Royal Caribbean Cruises has a 1 year low of $89.48 and a 1 year high of $133.60. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.14 and a current ratio of 0.16.
Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Wednesday, May 1st. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.20. Royal Caribbean Cruises had a return on equity of 17.23% and a net margin of 18.60%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. Sell-side analysts predict that Royal Caribbean Cruises will post 9.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Tuesday, June 4th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.53%. The ex-dividend date was Monday, June 3rd. Royal Caribbean Cruises’s payout ratio is 31.60%.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.
See Also: Momentum Indicators
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The path to the top of the retail chain isn’t easy. It doesn’t just include running a business and generating revenues, but requires a working knowledge of technology, being updated in everything that’s trending in the industry and while the big picture doesn’t often change, the details of the story must adapt to constantly changing business conditions. In today’s pandemic-led accelerated digitalisation, brands and retailers are racing against time to provide the best in Omnichannelisation, Phygital retail, m-commerce, e-commerce and social commerce. Therefore, along with leadership qualities and technical know-how, the duty of the leader is to keep fine-tuning and updating the vision of the company. And when that leader is a woman, the situation is even better handled.
No wonder then that women are breaking the glass ceiling in every field and retail – which was an area predominantly occupied by men – is no different today, experiencing change as women take to the helm, posing stiff competition to their male counterparts. In a country riddled with gender stereotypes, here is a look at some women retail leaders who are making a difference in the sector and are crucial in building successful businesses.
The March edition of IMAGES Retail brings you a feature on the inspiring women from the retail sector, with an authority to make decisions to take their brands away from the crisis and direct them on to a path to normalcy.
Going forward, despite COVID there is happy news for the industry as many retailers pan India are reporting recovery rates in high numbers. A survey conducted by RAI reported that February 2021 recorded sales at 93 percent of pre-COVID sales with East India leading from the front.
In this edition, we also bring a complete analysis of this situation. In our Expert Opinion segment, we bring you a feature on how retail is featuring in the era of Social Media. As always, we hope you find the issue informative and useful. Log on to our website https:// www.indiaretailing.com/ for more features, analysis and expert opinions.


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Earth Energy EV, an Indian origin global automotive start-up has shared a glimpse on social media of its first-ever upcoming Electric two-wheelers that is set to launch in the month of January. As highlighted in the creative posted by Rushi Shenghani., founder, and CEO, Earth Energy EV, the vehicle is expected to make inroads in the month of January 2021. The company is planning to launch its 6 new commercial and non-commercial vehicles in the market this year as officially announced by the company earlier this month.
The automotive industry has taken a new direction past decade by seeing the greater potential in the EV sector. The Earth Energy EV been acknowledged as Top 20 Most Promising EV Startups in 2020 by CIOReview. The Company Aligns itself aptly to Atma Nirbhar Bharat Mission as India enters the new era of Green Mobility. It manufactures a wide array of power solutions and components for its electric vehicles in-house, making 96% Localised EVs.


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Amazon will once again postpone its annual Prime Day event in Canada.
Last year, Prime Day was moved to October due to COVID-19, and it looks like the same thing will happen this year.
The U.S. will have its Prime Day event on June 21 & 22.
Amazon Prime Day started in 2015 and typically takes place in July. It’s Amazons take on Black Friday and Boxing Day. Statistically, summer months will see a decrease in shopping. Amazon used the event to drive sales and Prime membership signups.


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In this article, we will take a look at the 10 best tech stocks to buy right now under $10. You can skip our comprehensive analysis of these stocks and go directly to the 5 Best Tech Stocks to Buy Right Now Under $10.
Technology firms have witnessed explosive growth over the past few years as internet penetration and cheap, mass produced electronic devices transform the everyday lives of individuals. Statistics from the United States Bureau of Labor Statistics show a huge decline in price of computers, televisions, and related devices over the past two decades. Between 1997 and 2015, the Consumer Price Index for personal computers and peripheral equipment declined 96 percent. The increasing internet and computing penetration would boost the technology industry in the coming years.
Most of the decline in the price of computing devices occurred at the turn of the millennium as the dotcom boom rocked the finance world. Since technology hardware was getting cheaper, the technology-related services sector started taking off. In the years since, online shopping giant Amazon.com, Inc. (NASDAQ: AMZN) has emerged as a disruptor in the retail sector, Apple Inc. (NASDAQ: AAPL) has morphed into the biggest company in the world, and Facebook, Inc. (NASDAQ: FB) has become the home away from home for almost half the globe.
Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), and Facebook, Inc. (NASDAQ: FB), along with two other tech giants, now account for more than 20% of the S&P 500. They have become literally too big to fail. Their share price trades in the hundreds or thousands, and for many average investors, these ships have sailed. However, for those looking to capitalize on changing market dynamics, there are several cheaper options that offer value for money in the tech sector and are stable enough to be a good long term investment.
Nokia Corporation (NYSE: NOK), a Finnish firm once popular for making mobile phones, is now one of the leading 5G internet technology providers in the world. Since 5G offers limitless potential for growth in several sectors of the economy, there is a sound reason to bet big on Nokia Corporation (NYSE: NOK) stock that is trading well below $10 right now. Nokia Corporation (NYSE: NOK) has been around for more than a century and a half, and has time and again proved itself capable of navigating through different business conditions.
United Microelectronics Corporation (NYSE: UMC), a Chinese semiconductor manufacturer, could be a good short to mid-term bet. A global shortage of semiconductor chips on the back of supply chain issues related to the COVID-19 pandemic and increased demand as lockdown restrictions ease have sent chip makers into overdrive. United Microelectronics Corporation (NYSE: UMC) stands to benefit from the chip shortage that analysts have warned could lead to an increase in the price of tech items and may last for several months. This makes UMC one of the best tech stocks to buy right now under $10.
There is also a booming business in the Internet of Things (IoT) and cybersecurity. BlackBerry Limited (NYSE: BB), a Canadian firm that specializes in these market segments, has quietly grown in the past few years as privacy concerns and the sheer amount of electronic devices around individuals force a fundamental rethink of digital priorities. BlackBerry Limited (NYSE: BB), a sound option in the list of best tech stocks to buy right now under $10, has even won a government contract to encrypt sensitive communications. Under the deal, public servants in Canada will use Blackberry software for digital correspondences.
Technology companies have caused massive changes in the finance world as well. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
With this context in mind, here is our list of 10 best tech stocks to buy right now under $10.
Best Tech Stocks to Buy Under $10
10. Net Element, Inc. (NASDAQ: NETE)
Number of Hedge Fund Holders: 4 Price as of May 6, 2021: $9.58 per share
Net Element, Inc. (NASDAQ: NETE) is a Florida-based financial technology firm. It was founded in 2010 and is placed tenth on our list of 10 best tech stocks to buy right now under $10. The company concentrates on the development of mobile payment solutions. It operates in North America, Russia, and some Commonwealth states. The firm has returned more than 331% to investors over the past year. It has a market cap of more than $50 million and posted more than $60 million in annual revenue in 2020.
On March 11, Net Element, Inc. (NASDAQ: NETE) and electric vehicle maker Mullen Technologies announced that they had executed an agreement to purchase an EV manufacturing facility in Mississippi. Like Nokia Corporation (NYSE: NOK) and BlackBerry Limited (NYSE: BB), NETE is one of the best cheap tech stocks to buy.
At the end of the fourth quarter of 2020, 4 hedge funds in the database of Insider Monkey held stakes worth $1.7 million in the firm, up from 2 the preceding quarter worth $1.4 million.
9. Conduent Incorporated (NASDAQ: CNDT)
Number of Hedge Fund Holders: 17 Price as of May 6, 2021: $7.31 per share
Conduent Incorporated (NASDAQ: CNDT) is a New Jersey-based business process services company. It was founded in 2016 and is placed ninth on our list of 10 best tech stocks to buy right now under $10. It has operations in 40 countries and employs more than 60,000 people across the world. The firm focuses on offering transaction-intensive processing, analytics, and automation to business owners. Conduent has returned more than 226% to investors over the course of the past twelve months.
On March 5, Conduent Incorporated (NASDAQ: CNDT) posted earnings results for the first three months of 2021, reporting a revenue of over $1 billion, beating market estimates by $10 million but still a little below the revenue for the same period last year. It also posted $0.15 in earnings per share, beating predictions by $0.04.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Icahn Capital LP is a leading shareholder in the firm with 38.1 million shares worth more than $183 million.
"During the 1st quarter, White Brook built a position in Conduent. Conduent operates in three divisions: Commercial, Government Services, and Transportation. The Government Services and Commercial divisions perform similar call center, processing, and administrative services. The Transportation segment also runs tollways and traffic ticketing systems. Their services are necessary, but typically non-core to their customers and can be done more cheaply by a scaled player like Conduent than could be done in house. The services are also unlikely to drive a customer’s purchase decision although they significantly impact the customer’s experience. Potential customers want someone with experience, that will do the job well, and don’t want to think too much about it. Larger enterprises also need a provider that has the resources to scale as necessary (product launch) and monitor their employees. This is the business process outsourcing industry of which Conduent is amongst the largest.Five years ago I would not have considered Conduent a potential investment candidate, ten years ago I wrote off investors for even suggesting it (Xerox). The Company was birthed by Xerox in December of 2016 by spinning assets from legacy Xerox and recently acquired Affiliated Computer Systems. After becoming public at ~$15 per share, the stock traded to $23 by the end of 2018 before beelining to a Covid low of ~$2. During that time, the Company went through multiple chief executives and Board Chairmen and a fight with largest shareholder Carl Icahn that included a burn it all down letter from a board member in April 2019 alleging board malfeasance. That move ultimately resulted in Cliff Skelton’s appointment to interim CEO, and his permanent appointment in February of 2020.The corporate chaos was reflected internally as the company lost major contracts, was accused of bribery, and both customer and employee satisfaction deteriorated prior to Skelton’s appointment. Since, a culture change has occurred at the Company. Overall employee satisfaction has improved significantly. With increased satisfaction, employee retention has improved, resulting in improved relationships with clients and an improvement in customer churn. After years of losing business, the company is finally growing early indicators of revenue with new business signings and total contract values of new business growing. As a further sign of the different approach, customers that previously terminated relationships with Conduent due to non performance have not only reopened doors but awarded contracts to Conduent. From a financial analyst’s perspective, the Company more routinely meets or exceeds earnings expectations. There’s still more work to do, and the recovery is likely to be uneven, but Conduent has already turned around. As large contract losses under previous management finally roll off that will become evident to the uninterested as well.There are additional tailwinds as well:● There’s potential for an accretive sale of one or more of its business lines. The Company engaged in a review of its businesses when Skelton became CEO pre-pandemic, but any subsequent process was cut short as global business activity deteriorated.● The Company should be a beneficiary of a return to work, whether that be via processing toll and ticket fees or providing support for insurance carriers – bouying near and medium term results.● There’s potential opportunity in keeping some of the workforce at home and rationalizing real estate. Employees on message boards seem to like the experience of working from home over working in a call center even over a year later. The industry as a whole could have a permanently lower cost base. It remains to be seen whether those savings would be passed on to the customer, but if so, it then expands the market and opens their services to a smaller business.● Finally, during the quarter, management voted with their own dollars, buying a modest amount of stock in the open market at a time when most management teams are selling a portion of their holdings.The Company trades at a double digit free cash flow yield and less than 6x next year’s EBITDA – an appropriate multiple for a melting ice cube, but not a company that grows. I am excited by what the future holds for our investment in Conduent.”
8. Amtech Systems, Inc. (NASDAQ: ASYS)
Number of Hedge Fund Holders: 7 Price as of May 6, 2021: $10.00 per share
Amtech Systems, Inc. (NASDAQ: ASYS) is an Arizona-based firm that makes and sells equipment for the semiconductor and automotive industries. The firm markets solder reflow ovens, diffusion furnaces, high-temp belt furnaces, silicon wafers, sapphire substrates, silicon carbide wafers, and various glass and silica components. Amtech stock has returned more than 93% to investors over the past year. The company has a market cap of more than $143 million and posted more than $65 million in annual revenue in 2020. The stock ranks 8th in the list of best tech stocks to buy right now under $10.
On May 5, Amtech Systems, Inc. (NASDAQ: ASYS) reported more than $19 million in revenue for the first three months of 2021, a 36% increase from the same period last year. The revenue figure beat market estimates by over $1 million.
Like Nokia Corporation (NYSE: NOK) and BlackBerry Limited (NYSE: BB), ASYS is one of the best cheap tech stocks to buy.
At the end of the fourth quarter of 2020, 7 hedge funds in the database of Insider Monkey held stakes worth $14.4 million in the firm, the same as in the preceding quarter worth $11.3 million.
7. Infinera Corporation (NASDAQ: INFN)
Number of Hedge Fund Holders: 21 Price as of May 6, 2021: $8.68 per share
Infinera Corporation (NASDAQ: INFN) is a California-based company that markets optical transport networking equipment, software, and services. It was founded in 2000 and is placed seventh on our list of 10 best tech stocks to buy right now under $10. Infinera stock has returned more than 43% to investors in the past twelve months. The products made by the company service telecommunications service providers, cable providers, wholesale carriers, education institutions, and government entities.
Infinera Corporation (NASDAQ: INFN) announced quarterly results for the first three months of 2021 earlier in May, posting more than $331 million in revenue, beating market predictions by $0.4 million and up 0.2% compared to the same period last year.
Like BlackBerry Limited (NYSE: BB) and Nokia Corporation (NYSE: NOK), INFN is a cheap technology stock to buy now.
Out of the hedge funds being tracked by Insider Monkey, California-based investment firm Oaktree Capital Management is a leading shareholder in the firm with 25.1 million shares worth more than $263 million.
6. SemiLEDs Corporation (NASDAQ: LEDS)
Number of Hedge Fund Holders: 1 Price as of May 5, 2021: $5.50 per share
SemiLEDs Corporation (NASDAQ: LEDS) is a China-based company founded in 2005. It is placed sixth on our list of 10 best tech stocks to buy right now under $10. The firm markets light emitting diode chips and other LED-related products in several countries, including technology hubs like the United States, Germany, and Japan. The company stock has returned about 400% to investors over the past year. It has a market cap of over $24 million and posted more than $6 million in annual revenue in 2020.
Unlike Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), and Facebook, Inc. (NASDAQ: FB), LEDS is an affordable way to ride the tech boom.
On April 8, SemiLEDs Corporation (NASDAQ: LEDS) reported earrings for the second fiscal quarter, posting more than $1.2 million in revenue, an increase of more than 68% compared to the same period last year.
At the end of the fourth quarter of 2020, 1 hedge fund in the database of Insider Monkey held stakes worth $762,000 in the firm, the same as in the previous quarter worth $585,000.
Click to continue reading and see 5 Best Tech Stocks to Buy Right Now Under $10.
Disclosure: None. 10 Best Tech Stocks to Buy Right Now Under $10 is originally published on Insider Monkey.


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A collection of news and information related to Aether Systems Inc. published by this site and its partners.
Displaying items 1-4 of 4 » View latimes.com items only
Baltimore's Millennial Media Inc., one of the dominant companies in the rapidly growing field of mobile advertising, plans to raise $75 million in a public stock offering — money it will use to expand its operations overseas and go head-to-head...
Gus Sentementes' recent article noted that Lookingglass Cyber Solutions, one of our region's technology companies, had received $5 million in venture capital from sources on both coasts ("To find investors: Go west, young startup — but come back,"...
Sun StaffNEW YORK - This is it. It's real. A decades-old doctoral dissertation has grown into an actual product supported by a fledgling company, which on this early autumn day is being unveiled in a windowless ballroom several stories above the cab-choked streets...
Sun StaffThis is a planet of data gluttons. The latest estimates show Internet traffic - everything from e-mail to photos to full-length Hollywood films - is doubling every 100 days or so. And the thought of this tidal wave of ones and zeroes makes people such...
Jan 5, 2012 |Story| Baltimore Sun
Feb 15, 2012 |Story| Baltimore Sun
Nov 7, 2004 |Story| Baltimore Sun
Jan 16, 2001 |Story| Baltimore Sun
Original site for Aether Systems Inc. topic gallery.


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Georgian state statistics agency said on Monday, that country’s year-on-year rate of inflation fell from 14.3% in May to 10% in June, helped mainly by a month-on-month fall in food prices.
Food prices fell 8.9% in June, leaving the year-on-year increase in food costs at 22.2%, down from 30.7% year-on-year in May, according to Geostat.
The agency said that “significant” month-on-month fall in price was registered on fruits (28.6%); vegetables (26.2%) and sugar (5.7%).
Geostat’s figures do not provide more detailed monthly breakdown, including information on change of price on meat, which has significantly increased in the capital Tbilisi in June. There have been allegations that, although some senior government officials attributed price hike to need of putting EU food safety standards in practice, the price increase was a result of near-monopolistic nature of slaughterhouses business, allegedly patronized by the authorities.
Price on meat increased 26.4% year-on-year in June; fruits – 34.3%; food oil – 29.2%; bread and other wheat-containing products – 23%.
Fuel prices increased 21% y/y and there was 13.1% y/y decrease in prices for communications services in June, according to Geostat.
National Bank of Georgia (NBG) kept refinancing rate at 8% on June 22 for a fourth consecutive month saying that inflation will go down to 8% by the end of year.
NBG also said in late June that annual core inflation, excluding food and fuel prices, “is still low”. “Hence the demand-side inflation risks are low,” the central bank said.


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The largest brewing company in Nigeria, Nigerian Breweries Plc, has launched a new look for its Star Radler brand. The leading Brewer is also set to introduce a new flavour –Red Fruits, besides the brand’s existing Citrus flavour.
Introducing the Star Radler brand’s new look and taste on its Twitter page, said: “Exciting new flavours coming your way! Get the very best of the unique Radler taste with our refreshing new look and exciting flavour.”
Exciting new flavours coming your way! Get the very best of the unique Radler taste with our refreshing new look and exciting flavour.#StarRadler#TwiceTheRefreshment pic.twitter.com/F7wfcQzRgc
— Star Radler (@star_radler) November 4, 2020
Since its launch in 2015, the introduction of Star Radler which comes with a unique blend of beer and pure citrus juice (orange and lemon) has been proved to be another masterstroke from Nigerian Breweries Plc; Star Radler is naturally brewed and contains only 2% of alcohol which makes it an easy choice for consumers who are new to the beer category. The packaging of Star Radler brings to life the refreshing, thirst-quenching and tasteful benefits of the special beer.
In March 2019, music sensation Tiwa Savage was unveiled as brand ambassador for Star Radler. The announcement was made at a special event hosted at Muri Okunola Park, on the 29th of March, 2019. She becomes the first female to officially represent the beer brand, as she joins an elite group of superstars to be associated with Star. This follows the announcement in January where pop star Burna Boy was unveiled as Star Lager’s brand ambassador.
Star Radler is one of Nigerian Breweries’ 19 beverage brands which include Heineken, Star Lager, Climax Energy Drink, Gulder, Goldberg, 33 Export, Legend Extra Stout, Amstel Malta, Maltina, and more.


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360TravelGuide has unveiled the latest version of its site with increased content and functionality for consumers.
Navigation on the upgraded site has been made easier while features now include editor’s views and a weekly poll.
Interactive maps have been added to replace drop down menus and provide consumers with more ways to get to what they’re looking for.
Destinations also feature links to additional information such as public holidays and users can also take a sideways view and compare with other destinations.
On the business-to-business side 360TravelGuide is now working with Co-operative Travel as well as TUI in Germany, which is about to relaunch its site.


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In anticipation of the growth of various types of freelance work over the coming years, GM will soon be expanding its carsharing service aimed at freelance workers. The service, dubbed “Maven Gig,” will reportedly launch in Los Angeles and San Francisco later this year. It’s already operational in San Diego.
As the name implies, Maven Gig is an outgrowth of GM’s general-use carsharing service, Maven. The intent behind the program is to provide cars to those who want to work in the gig economy (on-demand taxi drivers, delivery drivers, food delivery, etc.) but who don’t want to own a car or can’t afford to do so.
Reuters provides more: “GM said it expects about 43% of the US workforce to work freelance by 2020. Currently about 35% of the workforce in the United States are freelancers, according to Freelancers Union, a non-profit organization.
“The automaker aims to have 100 vehicles as part of the Maven Gig fleet in San Diego, starting with its Chevrolet Bolt electric cars, and plans to scale up based on demand. … Maven Gig has partnered with online food order and delivery company GrubHub, online grocer Instacart and app-based delivery service Roadie.”
In related news, it’s worth remembering that GM is also pursuing the development of self-driving vehicle tech, through Cruise.
For more information on Maven, see:
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Read the latest business and community news from Central Texas.
272-unit apartment complex nearing completion in Pflugerville's Pecan District
Construction on Presidium The Pecan District, a 272-unit apartment complex, is expected to be complete in September. This marks the first of 10 phases for the Pecan District, a mixed-use development located at 1809 Social Drive, Pflugerville, according to an Aug. 3 company news release.
Downtown Austin news: Tumble 22 opens Lake Austin location, BookPeople celebrates 50 years and more
Find the latest news updates from businesses in the downtown, West Campus and West Austin areas.
Patio Dolcetto wine bar to reopen on Cheatham Street in San Marcos
Patio Dolcetto, which opened in October 2015, will reopen its doors at 322 Cheatham St., San Marcos, on Aug. 19.
The wine lounge temporarily closed June 26 following Gov. Greg Abbott’s executive order to close all bars and establishments that receive more than 51% of their business from the sale of alcoholic beverages.
Austin Java closes 3 locations in Austin and Dripping Springs
Austin Java will close three locations in Austin and Dripping Springs, including the cafe's City Hall, Met Center and Dripping Springs locations, according to an Aug. 4 social media announcement that referenced coronavirus as the reason for downsizing.
Whataburger to celebrate 70th anniversary, unveil food truck, expand into 3 states
Founded in 1950, the San Antonio-based fast-food chain Whataburger will celebrate 70 years of business Aug. 8, according to an Aug. 4 release from the company. Founder Harmon Dobson opened the first Whataburger location in Corpus Christi in 1950, and the restaurant chain has since grown to more than 830 locations in 10 states.
Evelin Garcia, Kelsey Thompson, Jack Flagler, Olivia Aldridge and Anna Lotz contributed to this report.


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Inflation remains at its highest level in 38 years, with prices rising by 9.1% in the year to July 2022.
The Central Statistics Office’s latest Consumer Price Index for July shows inflation at the same rate as in June, with housing, energy and transport the highest driver of price increases.
Electricity (up 40%), gas (up 56.6%) and home heating oil (up 91.9%) have all significantly increased in the last year as households reel from the surging cost of living.
CSO statistician Anthony Dawson said: “This is the same level of annual inflation that was recorded in June 2022, which was the largest observed in 38 years, when annual inflation stood at 9.7% in Q2 1984.
“Prices have been rising on an annual basis since April 2021, with an annual inflation of 5.0% or more recorded each month since October 2021.” The rise in transport costs has been led by diesel (up 44.8%), petrol (up 35.4%) and airfares (up 47.8%).
Meanwhile, rents are up 12.9% in the last year, the cost of dining out is up 5.6% while the cost of accommodation in the likes of hotels is up 21.7%.
Separately, the CSO’s national average prices for June 2022 show increases in staples such as bread and milk.
The national average price for bread (large (800g) white sliced pan) was up 18c in the year to June 2022, while the same size brown sliced pan was up 19c in the year, it said.
“Full-fat milk per 2 litres increased by 27c in the year while the average price of Irish cheddar per kg rose by €1.07 and butter per lb rose by 48c.”
The price of a pint is also up on last year, with the average pint of stout up 17c in the year to €5.13. The average price of a pint of lager is €5.53, up 22c.


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May is proving to be a very busy month for the Chinese company Nubia which, after doing certify from the well-known Chinese organization TENAA his next top of the range Nubia Z11 Max now confirms the arrival of a very important sponsor.
We are talking nothing less than Cristiano Ronaldo, the Portuguese soccer star who apparently will be the next "image" Nubia. But what is not clear yet is whether the champion will launch the new Nubia Z11 or will be destined to sponsor a special version of some other device.
Incoming a new Nubia smartphone "Cristiano Ronaldo Edition"?
It is not the first time that we see a football star sponsor a smartphone, previously in fact Huawei had signed an important contract with Messi, the star of Barcelona to sponsor his new one Huawei P9.
So we currently know that Nubia has entered into a contract with Cristiano Ronaldo, but we do not yet know the name of the device that will be sponsored by the player, many say that this is the new top of the range Universal Z11, but there are also other rumors that support the imminent arrival of another device in a special "Cristiano Ronaldo Edition".
Surely we will discover all the details at the next official conference of the Chinese company, which we remember, will be held in the coming days. What do you think? Will the world football icon sponsor the new top of the Nubia range or another unknown smartphone?


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Apex Legends update 1.45 patch notes for PS4,PC, and Xbox One is now available for players. According to the official Apex Legends 1.45 patch notes, the latest update brings various tweaks, fixes, and changes. Apart from this, Apex Legends version 1.45 also includes performance and stability improvements.
Previously, a big update added new legend (Rampart), with the all-new Crafting system, new Volt energy SMG, and more.
Unfortunately, players are still experiencing several issues while playing the game online. Today’s Apex Legends version 1.45 will fix a few of these issues.
What is new in Apex Legends 1.45?
Fixed several server crashes.
Made adjustments to the appearance of several holosprays.
Removed an inappropriate Caustic voice line.
Fixed an issue with audio not playing when shooting the Devotion and Volt.
Fixed an issue where Crypto’s drone in Caustic gas would play to the whole server
Fixed marking crafting replicators from the ship playing a “Let’s go here” VO ping.
Fixed an issue with Evo Shields that require exactly 100 damage not evolving when crafting the 100 points.
Fixed an issue with Ninja controller configuration not being able to use Replicators.
Fixed an issue with not being able to revive a teammate when they are downed while using a replicator.
Fixed an issue with Dome Shield on a Sheila allowing a player to shoot through the Dome Shield.
Fixed an issue with the “No Mercy” finisher spamming “Boom” to the entire server.
Fixed an issue with amped cover walls requiring more hits from heirlooms than from normal melee to be destroyed.
Fixed a server crash when Sheila is destroyed while someone is using it.
Fixed an issue with Hack not detecting players on Sheila.
Fixed an issue with the portal disappearing upon Wraith’s death.
Fixed a crash with Wraith’s portal interacting with World’s Edge geysers.
Fixed an error when Wraith’s portal is too close to a replicator and the player interacts with the replicator.
Fixed an issue that caused Loba’s teleport to fail in certain areas.
Fixed game crashing issues.
Added gameplay optimizations.
Addressed login issues.
Added network connection improvements.
Added various gameplay optimization.
Performance and stability improvements added.
Other minor bug fixes.
Download free Apex Legends update 1.45 on PlayStation 4 and Xbox One.


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Facebook has said it has acquired Confirm.io, a Boston based start-up that specializes in verifying anyone’s identity with respect to government issued cards such as a driver’s license and such. This way, any company would know if the person they are dealing with is indeed authentic.
Neither of the companies however confirmed how much the deal has been worth in financial terms but Confirm.io has stated they would henceforth cease to have an independent existence of its own. Rather, the start-up would merge with Facebook with it’s around 26 employees joining Facebook from now onwards.
Confirm.io also mentioned on its site having more than 750 clients. Facebook hasn’t stated whether they would render the same services that Confirm.io provided so far, that of confirming people’s identity.
The acquisition however does make a lot of sense for the social media giant that has been under fire in the US for hosting ads that is believed to have polarized voters prior to the US presidential elections. Russia based firms too are blamed for posting such discriminatory ads on the social media, a charge that the country vehemently denies.
However, with the latest acquisition, Facebook should be better positioned in authenticating the identity of anyone who wishes to post ad on its site. This way, the individual or firm posting an ad can also be tracked if found to engage in any illicit activities. The same tech can also be used for other purposes as well, like verifying a valid user’s identity in case if he/she has been locked out or has lost the password.
So far, posting an ad on Facebook has been relatively simple as all that was needed was a live Facebook page, a valid credit card along with a few other documents. In fact, the whole approach with Facebook was to facilitate the process of buying an ad slot on its platform, which again was the most sought after given its positioning as the world’s most popular social media site.


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Much has been made of the apparel industry’s apparent moves toward a more eco-conscious future—but are sustainability vows simply 2019’s buzziest trend?
Brands and retailers are committing to new environmental standards with increasing fervor, vying for the proverbial gold stars that will earn them a passing grade with consumers. But despite these changes, the fashion industry’s underlying objectives—to create desire, and to sell more—have not changed.
Throughout the past decade, newcomers have come to challenge the status quo with promises of material innovation, increased corporate social responsibility, and streamlined processes that reduce waste and emissions. But even as products are being built for circularity, repair and longer lifespans, trends have not slowed to a more thoughtful, conscious pace.
“While I’d really like to say that I can see a move away from a trend-driven atmosphere in fashion, I don’t see this happening in the near future,” said Michael Sadowski, a Nike veteran and contributor to industry-leading environmental consultancies like SustainAbility and the World Resources Institute.
Despite industry insiders shaking hands daily on agreements to promote sustainability and circularity, “brands need to sell more ‘stuff’ to grow and meet the expectations of investors, employees and other stakeholders,” Sadowski added.
“I actually think designers are in a tough spot, as many I speak with embrace the concept of the circular economy as it presents a unique design challenge to be overcome,” he said.
The objective is at odds with their job descriptions, ultimately, as “they are being asked to design more items to keep the engine of company growth humming,” he said.
The brands that are poised to make an impact over the course of the coming year are those that have already driven progress through both research and reach.
Market leaders like Adidas, Nike, Puma, VF Corp. and H&M have long possessed the resources to innovate, affording them a place of privilege within the industry, Sadowski said.
“Such companies are setting science-based targets (SBTs), investing in new technology and materials, and experimenting with new consumer-facing business models such as rental and subscription, and we will see more of this in 2020,” he said. It remains to be seen whether the efforts of both these incumbents and the startups looking to challenge them can change the trajectory of the sector overall.
“For every company like those mentioned,” Sadowski said, “there are several others focused primarily on meeting the insatiable consumer demand for fast fashion.”
Sadowski’s hopes for the coming year rest in companies’ drive to deliver on the promises they’ve laid out.
“In 2020, we will see more companies across the value chain—brands, retailers, and manufacturers—setting science-based climate change targets,” he said.
Sadowski began working with the World Resources Institute himself two years ago to create guidelines for apparel and footwear companies to set SBTs, and when he started, there were fewer than 10 companies on board.
Today, nearly 50 companies from around the world have approved SBTs or commitments, and even more have signed onto the UN Fashion Industry Charter for Climate Action.
“Companies see the urgency to address climate change, as they are already seeing the impacts on their operations,” he said. “We will see which companies align their investments and business decisions with their words.”
Designers themselves also have an opportunity to create change in the industry by experimenting with recycled and re-spun materials made from post-consumer apparel, production scraps and more.
“Designers inherently understand the notion of a circular economy and design, and want to push the boundaries on what’s possible,” Sadowski said.
Everybody & Everyone
One such brand is Everybody & Everyone, the brainchild of billionaire apparel industry heiress Veronica Chou.
As the Hong Kong-based former head of Iconix Brands Group China, Chou was once responsible for translating the success of the fashion firm’s American mass retail brands to a Chinese audience.
Having grown up in the industry all her life, Chou said she had misgivings about it from an early age, though she wasn’t fully conscious of the source of her unease.
“Growing up as a teen, going to my family’s knitwear and denim factories, I was always asking why it was so dusty and smelly, and why the water was a weird color,” she said.
Once Chou delved into the issue again as an adult, she made it her life’s mission to build a more sustainable apparel brand of by focusing heavily on materials and supply chain—as well as the product designs themselves.
“I want to make things that can last a long time in your closet, that are versatile,” Chou said, adding that many of her brand’s garments have removable elements or customizable details. “They’re closet essentials with a bit of a fashion twist.”
The brand’s bestseller is the Little And A Lot pant, which is adjustable around the waist and ankle so that wearers can tailor the length to the type of shoe they’re wearing. The pant’s fabric is made from a wrinkle-resistant blend of wood pulp-derived Tencel Lyocell and Sorona, a performance fiber made from fermented sugars.
The knee-length All Things Puffer jacket is another fan favorite, as it can be whorn short with a simple zip. The coat is made from 330 recycled plastic bottles, and Chou expressed hopes of finding a plastic solution for its metal buttons so that it can be made fully circular and recyclable.
“There’s no 100 percent—we try as hard as we can on everything,” Chou said. “There’s no clear standard, either,” she added, highlighting her brand’s status as both a driver of change and a guinea pig.
Chou fully believes that the brands that don’t do the work to become sustainable will be phased out by consumers—and fast. The biggest breakthroughs will be in material sciences, she said, and the ball is already rolling.
“We’re working with these materials,” she said. “A lot of them are moving away from petroleum-based plastics, dyes and polyesters.”
And while she hopes small brand like hers can be a beacon for change, she echoed Sadowski’s feeling that the sector’s power players will ultimately turn the tides.
“Component manufacturers will be swayed by the larger brands,” she said. “They move the needle, because a lot of things in fashion are about minimum order quantities.”
Heading into 2020, Chou predicted a heavy adoption by mainstream brands of natural materials like organic cotton, hemp and linen, as well as other bio-based fibers like Tencel.
“These aren’t crazy new innovations, but they could come to replace things we’ve been using—especially virgin polyester,” she said.
And while her brand champions thoughtful, utilitarian design, Chou is realistic about the industry’s immovable objective to sell more clothes.
As materials and processes evolve, however, she believes that the impact of fashion’s fast pace could be blunted. The advent of renewable energy has lessened our dependence on fossil fuels, she said, and the same revolution could happen with material sourcing for fashion products.
“If we can find a replacement for the way they’re made, we can continue in many ways to live our convenience-focused lives,” she said.
Ending ‘vast overruns’ and overproduction
Some experts believe that the only way to quash the industry’s mounting impact is by addressing the problem of excess, however.
“The biggest environmental challenge is to cut down on overproduction,” Charles Ross, sustainable sportswear design lecturer at the Royal College of London, said.
In a world where automation and technology stand to revolutionize every industry, there’s no reason that brands should be creating clothing that can’t be sold—and that will ultimately end up in landfills.
“The seeds of the fourth Industrial Revolution have been planted,” Ross said, speaking to the building up of localized, automated production. As those operations blossom and integrate with new technologies to support on-demand manufacturing, the industry could see the end of the “vast overruns that brands usually do.”
Technology has also added to fashion’s waste problem, however. The unquenchable expansion of e-commerce has contributed to consumers’ rapacious appetites for fast fashion and instant gratification. “Retail theatre has been missing, and thus the race for service and price has been lost to the virtual domain,” Ross said.
A downside of shopping online is that it doesn’t afford a tactile experience, Ross said, and shoppers are apt to buy cheap products without as much care or consideration as they might display when shopping in stores.
Still, Ross is confident that the next generation of apparel designers can steer the ship to calmer—and cleaner—waters.
“The good news is that the new generations of designers asks me harder questions each year,” Ross said.
As Gen Z design students make their way through his classes, he’s found that sustainable solutions he may have offered just a year ago are already out-of-date, forcing the group to reexamine the issues deeply, and often.
“The incoming designers want to work to these better standards, and if companies will not let them do it, then they will create a startup to do it themselves,” he said.


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Originally Published in: New Braunfels Herald-Zeitung
Published on: July 22, 2022
In August, the New Braunfels Animal Advisory Board will be voting on adopting a Humane Pet Store Ordinance for our beloved city. Such an ordinance would ensure all puppies and kittens purchased at New Braunfels pet stores would be humanely sourced from our local shelter and rescue groups. The Board should vote yes to send the proposed ordinance to the full New Braunfels City Council — and the council should pass and implement the ordinance.
As a community we cannot support importing puppies from puppy mills, especially when our shelter, like so many across Texas, is overflowing, forcing adoptable, healthy dogs to be transported to other states or even worse, euthanized due to lack of space.
Read Full Article Here.


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Customs: Towards safer trade between Canada and the EU
The EU and Canada agreed on 4 March 2013 to cooperate more closely to ensure the security of their supply chains.
The new agreement signed today builds on the existing customs cooperation agreement with Canada and extends it to include supply chain security and related risk management matters. It will allow closer cooperation between the two parties, with a view to ensuring a high level of security while facilitating legitimate trade between the EU and Canada.
For further information see the press release (IP/13/184).