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Indian startups are at a crossroads this year. The past couple of years, startups were pampered with excessive capital and presented a sounding board in the Prime Minister himself.
But this year, with capital slowing, startups that over spent and over hired during their period of exuberance are having to cut down, shed jobs and spout profitability as their definitive mantra.
To gauge the pulse of startups in this period of churn and the challenges they face, The Economic Times conducted an exhaustive survey of the most influential entrepreneurs and investors in the country.
The study threw up a few surprises—a majority of the respondents said they believe there couldn’t be a better time than now to be a startup entrepreneur; and that investors’ belief in the ecosystem will pick up in six months to a year.
Worryingly, though, for Indian startups, an overwhelming majority believe Flipkart and Ola will be replaced by their American rivals Amazon and Uber, respectively, as the market leaders in the next two years.
It is crucial for India’s startup ecosystem for Flipkart and Ola to be successful, but they have to be able to stand their ground sans the protectionist moats available for their Chinese counterparts.
The Economic Times Indian Startup Ecosystem Barometer survey will be presented in two parts. The first focuses on the Big Picture—will domestic startups be able to triumph over the US giants; when will investor sentiment improve; and despite the doomand-gloom, is it still a good time to startup.
The second part will boil down the specifics—how much have valuation expectations changed; where are companies cutting costs; the direction of salary expectations; the sectors investors are focusing on.
Analysis: Any meeting with a startup entrepreneur or investor in India this year is not over until the discussion steers to how the two big market share battles are shaping up.
The domestic market leaders, Flipkart in online retail and Ola in taxi aggregation, are pulling all their might to fend off US giants Amazon and Uber. Flipkart and Ola are important to drive investor sentiment in favour of India.
The two companies have raised a combined $4.4 billion so far, as against the overall $12.7 billion raised by internet and technology companies in 2014 and 2015, according to data from startup researcher Tracxn.
Returns on capital raised by these two companies will be pivotal to the success of India’s startup ecosystem. What’s worrying is that an overwhelming majority of the respondents in the survey believe Amazon will edge past Flipkart and Uber will be bigger than Ola in the next two years given their seemingly unlimited budgets to win in the world’s fastest growing major economy.
It’s fine. (Flipkart and Ola) will improve or get acquired. These are not monopolistic markets, more duopolistic. It’s very far from game-set-match. — A Mumbai-based early-stage investor
Really bad in case of Flipkart. They have the highest invested capital that needs to see an exit for the environment to flourish. — A startup entrepreneur
Both Uber and Amazon, especially Amazon, have spent years executing well and building better India-specific capabilities than their rivals. They are both India companies, not US clones. — Founder of a Bengaluru-based startup
Good for the Indian market. At least we will have sustainable high-quality service even if it comes at a higher price. In the ecommerce space, Indian companies were anyway setting the wrong precedents. — The CEO of a payments startup
The startup ecosystem will learn to build better moats and not take local advantages as the defining ones for their businesses. — A Bengaluru-based entrepreneur
All concept arbitrage players who don’t bring any independent IP to bear will be under severe pressure when global category leaders challenge them in India. — A serial entrepreneur
Analysis: Nine Indian private technology companies are considered to be worth at least $1 billion, making up the steadily widening Unicorn club. These companies—Flipkart, Snapdeal, Ola, Paytm, Shopclues, Zomato, Quikr, InMobi and MuSigma—are worth a combined $36 billion.
Except Paytm, none of these companies was founded before 2005. While their estimated valuations are eyepopping, the real test for these companies will be when they decide to list their shares in public equity markets and prove to scrutinizing eyes that they are a sustainable business.
India’s original technology startup poster boy, Infosys, is worth $37 billion in public markets. About 78 per cent of the investors polled believe that only up to three of the current set of Unicorns will be able to go for an IPO in the next four years.
Some of them expect that many of the other billion-dollar firms will be acquired by companies that will eventually go public. The universe of Indian internet companies that are listed will possibly be much larger as smaller firms will also list their shares on the bourses. But the promise of a large Internet market lies More than 6: 0 per cent with the IPO of the Unicorns.
Analysis: While internet businesses have been able to secure venture capital funding consistently the past 10 years, the most well-funded of them aren’t yet profitable.
Online classifieds InfoEdge and Justdial are making profits but they were founded in the previous century. Who is to blame for this situation?
A majority of the entrepreneurs and investors polled were unwilling to pinpoint the reasons. Interestingly, although about one-fourth of the investors polled blamed themselves, none blamed founders.
On the other hand, only 8% of the founders blamed themselves and 20 per cent of them pointed fingers at investors for their unprofitable businesses.
Analysis: Lack of exits in Indian startups is by far the biggest concern among global limited partners, or LPs, who are investors in venture capital and private equity funds.
About 78 per cent of the venture capital investors who participated in the survey voted that a lack of options to sell their investments was the biggest concern for their limited partners. While billions of dollars have flowed into India’s startup ecosystem the past 10 years, big exits have been missing.
Overall, while Indian startups raised $12.7 billion in 2014 and 2015, total exits totalled $1.29 billion, or about one-tenth the total capital deployed, according to data from Tracxn.
Some argue that India cannot be compared to China and the United States that have large domestic markets. But even in Israel, 373 companies raised about $3.58 billion and 69 companies were sold for a total sum of $5.41 billion in 2015, according to Israeli research platform Zirra.
The second big concern about India is the high valuations of startups that are now being seen as unjustifiable given the revenues. This is making exits even tougher in India.
The third concern is over the maturity of the Indian ecosystem, highlighting worries that the domestic consumer market may not be large enough yet and that there is not enough managerial or executive strength available here for companies to scale up smoothly.
Surprisingly, regulatory and tax-related problems such as the ‘angel tax’ make the bottom of the ‘worry list’.
Analysis: Indian startups saw copious amounts of funding between July 2014 and November 2015.
When Flipkart garnered a record $1 billion in funding in July 2014 in the run up to Alibaba’s $25-billion IPO that September, it put India on the global map as the next big opportunity for investors.
Hyper-local delivery startup Grofers mopped up three funding rounds totalling $165 million in nine months in 2015 as global investors clamoured to get in early on the next big thing.
Typically, startups raise one round of funding every 12-18 months. But since the third quarter of 2015, investor sentiment has dimmed. Global investors like Tiger Global Management and Japan’s Soft-Bank, which were the most aggressive in 2014-2015, have not opened their purses for new investments this year.
Even so, 41 per cent of the respondents are optimistic that the funding market for startups will recover in six months to a year.
Many respondents agreed on one thing: For sentiment to pick up, the Indian startup ecosystem needs either a mega exit so investors have proof that big returns are possible or a mega round of funding into one of the billion-dollar internet firms.
There are investors and then there are investors. Good, strategic investors will be back and the pretenders will be gone. — A startup entrepreneur
Don’t expect bullish valuation to come back unless there is a blockbuster exit. Other than that, investors are still active. — A Bengaluru-based venture capital investor
The first half of 2015 was an anomaly possibly due to Alibaba’s September 2014 IPO. If you take out that period and look at 2013, the second half of 2015, and 2016 so far, there is an upward curve. The first half of 2015 was valuable in giving the industry a strong push and got everyone’s attention, from the government to the media. Thus, it was highly beneficial to the industry as a whole. — Mumbai-based early-stage investor
Analysis: Even with the ongoing funding winter, a majority of the entrepreneurs believe it’s still the best time for them to be running a company.
These respondents believe the slowdown allows them time to regroup and build more sustainable business than be distracted by what the competition is doing.
Many of them said this period of churn will help to separate the “wannabe” startups founders from serious entrepreneurs and that capital will always be available for good companies.
Some respondents, however, noted that while the startup market has matured significantly over the past 5-6 years, infrastructure issues like patchy broadband penetration and different limitations for specific segments have started to emerge.
Guess the biggest change is in the way society now evaluates entrepreneurship. Less peer pressure to do the ‘corporate’ . — Founder of an online retail company.
The Indian startup environment has never been geared in terms of infrastructure. The only plus points used to be the availability of capital and (to a lesser extent) availability of some categories of skilled labour. Now, the funding is drying up. The rest has to be manufactured externally by the entrepreneur. This is not China. — A serial entrepreneur
Just look at the (regulatory) clauses for angel funding to be tax free. We keep hitting redtape. The regulatory environment is poor. Government folks don’t understand new technology. They like public relations and superfluous Twitter activity. But the situation has improved from the past. Has to be much faster. — Founder of a hyper-local startup
According to company sources, the Gold membership is currently being offered on an invite-only basis. However, users with existing Pro memberships are being offered Gold subscriptions for three months.
2022 saw some significant changes in the e-commerce ecosystem in India. The industry primarily dominated by the two big wigs of e-commerce - Amazon and Flipkart, saw growing competition from giant conglomerates such as JioMart and Tata Digital and startups like Nykaa, Meesho, Udaan, and DealShare. Further, the launch of state-backed ONDC created waves of disruption in the established e-commerce market. Last year, also saw e-commerce players refocusing their strategies to tap the next set of internet consumers from the hinterlands.


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Chevrolet has just announced two major sponsorship partnerships with two of Britain's most famous football clubs, Liverpool FC and Manchester United.
It is because both clubs have a global following that Chevrolet, General Motors' largest global brand with annual sales of more than four million vehicles in more than 140 countries, is expecting to reap in sales through their brand association with our 'beautiful game'.
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Chevrolet is the fourth biggest global car brand in terms of sales and also one of the fastest growing brands in the world. Established in the U.S. by Swiss émigré Louis Chevrolet in 1911, the brand celebrated its centenary in 2011.
The brand was re-launched in Europe in 2005 following the takeover of the South Korean Daewoo automotive brand by parent company General Motors.
The Chevrolet brand is represented by a total of 2,500 sales and service outlets in Western and Central Europe. For the first six months of this year their new car sales in this region were up by 10.9 per cent to 117,500 units despite the troubled economic situation which saw a decline of 7.7 per cent in the market overall.
Chevrolet say that customers are now being more value-conscious than ever, in short they want a lot of car for their money - hence Chevrolet's success.
In the UK for the first seven months of this year sales of new Chevy models were up by 21.6 per cent to a total of 9,657units. The UK is the brand's fourth largest European market; Italy is top, Germany second and, France third.
The European Chevrolet line-up includes the Spark cheap and cheerful city car, the small Aveo value for money supermini hatchback, the compact Cruze saloon and hatchback, the Orlando MPV, the Captiva SUV, the legendary Camaro and Corvette sports cars and the extended-range Volt electric car. To come in October this year is the Cruze station wagon.
In January this year Chevrolet in the UK forecast 20,000 new car sales for 2012 but unless they push the pedal to the metal, despite their current increase over last year in a 'flat market', that target now looks doubtful with just less than 10,0000 new cars sold in seven months.
However Zoe Lavender, Chevrolet's UK product manager said, everything is in place for us to have a good sales month in September when the 62 plate is introduced and we have just launched our zero per cent five year finance packages for our mainstream models.
The Spark for instance, our cheapest model can now be bought for as little as £99 a month. The zero per cent finance option is not available for the iconic £35,025 Camaro and £63,000 Corvette 6.2-litre V8 muscle cars.

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|Green Delta Insurance Launches Digital Insurance
Green Delta Insurance, the leading non-life insurance company of the country, has launched Digital Insurance for the first time in Bangladesh at a launch event and press conference held at Dhaka club on 13th of September, 2018.
|Life’s Work: An Interview with Rabeth Khan, CEO, MACOMM/Dentsu and MediaAxis/Carat
For those who don’t know Rabeth Khan, he is the Chief Executive Officer of MACOMM/Dentsu and MediaAxis/Carat, two of the successful and fast growing advertising and communication services companies based in Dhaka. From a modest beginning of a 3 person agency, over the past years, he and his team have built an entire group of mission-driven communication companies - having businesses in media buying, creative, music and experiential marketing and digital marketing - from scratch, which continues to experience tremendous growth while staying true to its core values of conducting ethical business. And Mr. Rabeth is just getting started.
|Pathao’s Digital Payment Push Runs Into A Wall
Bangladesh Bank has denied Pathao the permission to add payment service Pathao Pay
|Parking Koi Wins Seedstars Dhaka
On September 8th, during Seedstars Dhaka, Parking Koi won the Bangladesh round of Seedstars World and will represent the country at the Seedstars Summit in Switzerland to compete for up to USD 1 million in equity investment and other prizes.
|Introducing: Promoted ProductsPromoted is a new way to promote your product to Future Startup audience through telling intelligent story i.e. explainer or a review about your product. You may also offer deals and a special discount in the same article.
|Pathao To Launch In Nepal
Pathao, the Dhaka-based fast growing logistics + ride-hailing startup, is eyeing expansion beyond Bangladesh. The ride-hailing company has always aspired to be more. It has since expanded to food delivery, car-hailing, payment, and continues to look for opportunities to explore. Now, the company is eyeing to expand to Nepal.
|Green Delta Capital, Investment Banking, And Life’s Lessons: An Interview With Md. Rafiqul Islam, MD, and CEO, Green Delta Capital Limited
Md. Rafiqul Islam is the Managing Director and CEO of Green Delta Capital Limited. Founded in 2011, Green Delta Capital has become one of the fast growing Investment Banks in Bangladesh within a short period of time. To date, they have signed and executed corporate investment banking deals with clients worth USD $900+ million in total and have built a strong investors pool from Europe, Middle East, Asia, and some parts of the US. And Mr. Islam, who joined the company as the Chief Investment Officer in 2011, has been instrumental in taking the company where it is today. Prior to joining GDCL, he worked at BRAC EPL where he was part of the team that formed structural finance division, investment banking division, and treasury division.
|Genex Infosys Is All Set To Go Public
BPM and ITS company Genex Infosys is all set to go public. After filing paperwork with the Bangladesh Securities and Exchange Commission (BSEC) to hold an initial public offering (IPO), the Commission has approved the proposal on Tuesday at a meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC)
|FS Weekly Digest: The Insights You Missed Last Week
FS Weekly Digest


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Freep: GM’s decision to ditch Apple CarPlay, Android Auto sparks backlash
It's been a while since I've had an excuse to read a Detroit Free Press article, but this story warmed my heart a bit given that it's a certainty everyone who works at GM corporate will have seen it.
Car makes are simultaneously:
Terrified of becoming a commodity, since electric motors and batteries are much harder to differentiate than traditional ICE drivetrains
Aroused by the idea of becoming a software platform that can capture 30% of revenue as you sit around with nothing better to do than watch ads and play Candy Crush in your increasingly-autonomous vehicle
Normally, I'd be worried that this would lead to a domino effect over the next decade that effectively locks CarPlay out of all new car models, but Apple's brand power makes that unlikely. As soon as a few major manufacturers ditch Apple, enough competitors will smell blood and seize the opportunity to differentiate themselves by riding Apple's ecosystem coattails. Even if it comes at the cost of post-sale recurring revenue.
Also good to see Ford PR takes the easy layup. As a lifelong Ford customer, the only thing that'd make me ditch them now is if they dropped support for Apple stuff (in general their CarPlay implementations have been industry-leading):
We continue to offer Apple Carplay and Android Auto because customers love the capability that enables easy access and control of their smartphone apps, especially our EV customers.


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Airfreight volumes continue to flatline, according to the International Air Transport Association (IATA).
The association released data for global airfreight markets, which show volumes measured by freight tonne kilometers (FTK) rose just 0.5 per cent in October compared to a year ago.
Year-over-year (YOY) expansion fell back from September’s faster growth rate, and total cargo volumes in October stand 1.1 per cent lower than the peak of the uptrend at the end of 2014.
IATA says European carriers have driven recent improvements in air cargo growth, but they ran out of steam in October with a rise of just 0.2 per cent and other regions also underlined the weak October trend.
The most significant decline in cargo activity was experienced by North American carriers, who reported a 2.4 per cent fall in volumes.
Latin America fell 8.1 per cent and Africa fell 1.1 per cent, but Asia-Pacific was up, little more than Europe with a rise of 0.3 per cent.
Growth in the Middle East, although a robust 8.3%, was some 4.3 percentage points down on the average performance for the year to date.
IATA’s director general and chief executive officer, Tony Tyler says: “The outlook for air cargo continues to be very difficult. While there was some optimism from third quarter growth it has all but disappeared as the industry basically flat-lined.
“Cargo capacity has grown largely in lock-step with the continued robust demand for passenger travel. As a result, freight load factors have sunk to the 44 per cent range—a level not seen since 2009.
“Early signs of improvement in export orders may bode well for trade and air cargo but this is unlikely to prevent air cargo finishing 2015 on a low note.”


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Apple iPad has been enjoying high sales over the past couple of years. Continuing its strong run, iPad dominated the global tablet market yet again this year as the market was collectively bolstered during the pandemic.
A new industry report reveals the revival of tablet demand globally. Having experienced a long slump for the past few years, the market jumped back by 19 per cent year-on-year in 2020. The upward trend continued this year as the market grew by 53 per cent year-on-year in Q1 2021.
The recent demand has been spurred by the pandemic leading to an increase in remote work and education and the subsequent requirement for large screen devices. The growth has been highlighted in a new market analysis report by Counterpoint Research.
The increase in sales was majorly enjoyed by the two leading tablet makers - Apple and Samsung. Both the firms "ramped up production and shipments in 2020 to meet the increased demand," also releasing new models in the midst, the report highlights. Along with individual sales, the companies increased their market share because of the lack of competition in the segment as well as the ongoing US ban on Huawei.
Of the two, Apple managed to grab a 37 per cent market share in Q1 2021. Much of this sale was bolstered by the basic iPad models, which accounted for 56 per cent of the overall iPad shipments in Q1 2021," explains Liz Lee, Senior Analyst at Counterpoint Research.
iPad Air and iPad Pro series also accounted for a considerable market share. While the former constituted 19 per cent of the overall iPad sales, the latter grabbed 18 per cent of the share.
On the bestseller list, iPad 8 came out to be on top, followed by iPad Air 4. Both the iPads fared well due to their prices, portability and high specifications.
Apple's increased iPad sales continue last year's trend, as the Cupertino tech major shipped 33 per cent more iPad units worldwide in 2020 than in 2019. Its performance for Q1 this year was even more impressive due to the quarter being an off-season and Apple gaining all-time high sales in Japan.
Lee further explained that the recently launched M1 iPad Pro also garnered a highly positive initial consumer response. Lee, however, warned that Apple is suffering from supply chain constraints for processors and display panels for the series and so its shipment is only expected to soar in Q3 this year.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today


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Solar power has been beckoning to an increasing number of households and businesses every year in Australia. However, the obvious environmental and monetary perks notwithstanding, a major hindrance that most potential users face is the cost. A good 6.6kW solar panel system can set you back by $4,000 which is no significant amount. While many Australian states offer rebates and incentives, it is still a considerable investment.
In response to that, the buy-now-pay-later model has come to the aid of many. It offers users an option to purchase the solar panel system now and start paying off in the future when you're profiting from the benefits already. This option is available for all types of solar systems, including the 10kW solar system.
Is this option ideal? Here's everything you need to know about the buy-now-pay-later model.
What does this mean?
It is essentially a finance option, a kind of interest-free loan option that enables you to install your solar panel system at zero down payment. Then, you start paying it off in instalments, when the system has already begun to prove its worth.
One clear advantage of this finance model is that you can purchase and start benefiting from your solar power system right away, without having to pay a single dollar upfront.
Another benefit you might not know about is that this loan option has comparatively lower eligibility criteria, as opposed o a personal or bank loan. So your poor credit score might not be as big of a hurdle here.
Is there a catch?
One common downside to this is that a majority of such loans are often misleading. While it may be labelled 'interest-free', retailers may have already incorporated such interest to be recovered in the cost of the system itself, cranking up the price by 20-25%, in which case, you might end up shelling out considerably more than had you decided to go through any other financing option.
Additionally, you may find that interest-free loans come with shorter repayment windows, which could mean larger instalments for you.
New policies for safeguarding customers
Don't let this deter you just yet. The ACCC announced a new code to protect consumers against such immoral business practices and unacceptable quality of services. The purpose is to discourage retailers from employing immoral tactics, making tall claims, showing inefficiency in handling customer complaints.
This code, introduced in December 2019, is currently being reviewed.
This decision is not a black-and-white one. It has several implications. Despite the ACCC's customer code, this might not necessarily be the best choice for you.
Weigh out the pros and cons clearly, and calculate your monthly instalments before you decide to buy a solar panel system and pay later.
Our solar experts will be happy to help should you have any questions. Contact Us at 1300 867 328


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Tesla’s use of artificial intelligence in its electric vehicles is about to improve with a new update to its software, according to the CEO of the company Elon Musk.
While Tesla is recognized worldwide for its investment in artificial intelligence for autonomous driving technology, the automaker has also been using its expertise in machine learning and other branches of artificial intelligence to develop other features related to the operation of its vehicles.
Unlike other manufacturers that use a rain and snow sensor in order to detect the intensity of it to activate the automatic windshield wiper, Tesla decides to put its computer vision system to the test by using its cameras to improve automation and the function of brushes.
The automaker now created a new “Deep Rain” neural network to better handle the task.
Now Musk has been driving growth in Tesla’s computer vision capability in the new full autonomous driving Beta update.
It may also interest you: Polaris updates its GEM Low Speed Vehicle (LSV) with new options
In recent months, the CEO has joked that Tesla will move to a completely vision-based system and that it will not even rely on its in-vehicle radar system.
“When radar and vision disagree, which one do you believe? Vision has much more precision, so better to double down on vision than do sensor fusion,” explains Musk
“Sensors are a bitstream and cameras have several orders of magnitude more bits per second than radar (or lidar). Radar must meaningfully increase signal/noise of bitstream to be worth the complexity of integrating it. As vision processing gets better, it just leaves radar far behind,” he added.
This update is expected to come to those using Tesla’s full autonomous driving beta, which is the automaker’s “full autonomous driving” version.
While automating all driving-related tasks, the driver remains responsible for the vehicle and must pay attention and be ready to take control at all times.
Written by | Gabriel Sayago


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Augment Jumping Ability, We live in a post-Juicero world, and yet somehow, inexplicably, startups continue to push the limits of what is a socially acceptable expenditure of engineering effort.
Case in point: Lunavity, a hover backpack for augmenting one’s jumping ability from a team of University of Tokyo students.
The device, a non-functioning prototype version that was shown off in the expo hall of Austin’s sxsw festival this week, uses a circular series of rotors.
To provide enough downward thrust to let the human wearer jump higher and for longer than is normally physically possible.
The team behind the product says it should allow someone to jump two to three times higher than normal. The overall effect seems designed to replicate low-gravity environments, hence the moon-themed named.
The simulated ways one would use the product were on display in a video posted to YouTube earlier this monthshowing a Lunavity wearer jumping over a crosswalk, slam dunking a basketball, and watering the fruit of a tall tree in a ludicrous fashion and with overly self-serious narration.
It suggests a cheeky bit of self-awareness — or an utterly bewildering lack of it.
I suppose — on behalf of the Tokyo students who seem to recognize how outlandish it all is.
But regardless, you have to respect the creators of a hover backpack for dreaming big.


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KANSAS CITY, Mo. — The first day of legal recreational marijuana sales in Missouri brought long lines outside dispensaries, crowded lobbies and some sheepish grins while customers waited to buy up to 3 ounces of a substance that was illegal to possess just a few months earlier.
State regulators had to either approve or deny the applications that would allow medical dispensaries to start selling to any person older than 21.
That meant both customers and dispensaries were pleasantly surprised when the state announced they’d start approving the first applications on Friday.
For customers like Tony Janssens, it means not having to hide anymore.
“Just being able to do it, not having to look over your shoulder and nothing like that,” Janssens said. “More people, I feel like, would gear towards this instead of going into a liquor store on Friday and Saturday nights.”
Janssens knows his way around cannabis from his time as a medical patient in Oklahoma and California. He said other places where he’s lived have benefitted from the extra tax revenue that comes in.
Missouri will get 6% of every recreational sale, and individual cities can opt to take another 3% on top of that.
“So I’m excited to see the growth for Kansas City and see what it does for Kansas City in terms of taxes and stuff like that,” Janssens said.
Credit card companies aren’t processing marijuana purchases because it’s still illegal federally, so customers will need to have enough cash to cover what they buy. Also, possessing any amount of marijuana is still illegal in Kansas.


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More on Bill Gross and the CPI
When I discussed inflation and the CPI earlier this month, I knew that Bill Gross’s comments regarding a CPI “con job” was going to make an impact. It didn’t take long for the fireworks to start. Columnist John M. Berry of Bloomberg responded with an article on why Bill Gross’s `Con Job’ Was Inaccurate and Flawed. Mr. Berry started his critical column with the following:
Gross may run the world’s biggest bond fund, but his column amounted to an inaccurate and analytically flawed diatribe.
He virtually accused Fed Chairman Alan Greenspan of being part of a conspiracy by government officials to understate inflation and thereby boost estimates of real economic growth.
The main issue with the CPI involves the recent use of hedonic adjustments for the prices of items in the CPI basket of goods and services. Hedonic adjustments are used to standardize prices for differences in quality, such as the speed of computers. There are also adjustments for the substitution of other goods, especially food, when the price of a good rises.
Bill Gross didn’t let Mr. Berry’s critique slide by. He responded in his PIMCO newsletter with the following:
My point, however, was as follows. The CPI inaccurately calculates Americans’ cost of living. Since Social Security and pension benefits, as well as the level of wage hikes are predicated upon the specific number and/or the perception of annual increases, Americans are being in effect conned by their government and falling behind the inflationary eight ball year after year. After slamming the concept of the core CPI, the primary culprits I cited were the government’s use of hedonic and substitution adjustments to lower the CPI by as much as 1% in recent years. John Berry, the columnist, claimed my report was “inaccurate and flawed.” William Poole, the Fed Governor, in effect said I didn’t know what I was talking about. I think they read what they wanted to read, and I would hope that they would hear what needs to be heard.
I did not dispute the fact that the quality of goods and even services can improve and that the government shouldn’t recognize that “hedonically.” I do disagree with those adjustments being reflected in a CPI that is used to calculate the benefits of wage earners and retirees. The U.S. government has over 40 different CPI indices – there is not one sacred calculation. There is a CPI for medical care for instance, and a CPI for services, as well as a CPI for transportation. Take your pick. But in using for retirement benefits an hedonically adjusted CPI that lowers annual price increases by as much as 1%, they take money unjustly out of Americans’ pockets. Peter Bernstein, in an article I cited in the Investment Outlook, suggested the same thing. He recommended the adoption of a new form of the CPI, which he dubbed the CPI/DX that excludes all durable goods prices – the items most subject to hedonic calculations. He wrote that “what people see and feel as inflation is what they pay for services and non-durables” not hedonically adjusted durable goods such as computers and DVDs.
I don’t think this will be the end of this debate. This issue is important to our financial future, since it impacts Social Security payments and the interest paid on TIPS and I Bonds. I’m sure there will be more to follow.


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Builder confidence in the market for newly-built single-family homes fell two points to 68 in June on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The decline was due in large part to sharply elevated lumber prices, although sentiment remains on solid footing.
“Builders are optimistic about housing market conditions as consumer demand continues to grow,” said NAHB Chairman Randy Noel. “However, builders are increasingly concerned that tariffs placed on Canadian lumber and other imported products are hurting housing affordability. Record-high lumber prices have added nearly $9,000 to the price of a new single-family home since January 2017.”
Derived from a monthly survey that NAHB has been conducting for 30 years, the HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.
All three HMI indexes inched down a single point in June. The index measuring current sales conditions fell to 75, the component gauging expectations in the next six months dropped to 76, and the metric charting buyer traffic edged down to 50.
The increase in prices paid for residential construction inputs (goods) was the fifth consecutive monthly increase. The index has already risen 5.8% in 2018 and sits 8.3% higher than it did in May 2017. Since January 2017, the index for prices paid for goods inputs to residential construction has only declined twice—in May and December of 2017—each time falling just 0.1%.


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Amex denies anti-trust allegations
The US Justice Department is suing American Express for allegedly imposing 'unfair restrictions' on merchants.
TranscriptTICKY FULLERTON, PRESENTER: American Express is vowing to fight charges filed against it by the US Government for allegedly imposing unfair restrictions on merchants who accept its cards.
American Express is accused of unfairly trying to prevent merchants from using other credit cards.
The US Justice Department is suing American Express for allegedly violating anti-trust laws.
ERIC HOLDER, US ATTORNEY GENERAL: American Express has refused to change its rules. Consumers are being held hostage from receiving the expanded choices and lower prices that they deserve under our settlement with Visa and with Mastercard.
TICKY FULLERTON: The Attorney General says the US Government won't tolerate anti-competitive behaviour.


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LOS ANGELES (CelebrityAccess) Video game sales climbed to $43.4 billion in 2018, according to the Entertainment Software Association and the NPD Group, marking an 18 percent climb from 2017.
Sales were fueled but Rockstar’s “Red Dead Redemption 2” plus “Call of Duty: Black Ops 4,” “Marvel’s Spider-Man,” “God of War” and “Super Smash Bros. Ultimate.” Hardware sales were up 15 percent, including VR headsets and plug-and-play consoles, grossing $7.5 billion for the big three platforms, PlayStation 4, Xbox One and Nintendo Switch. The latter actually surpassed PlayStation 4 in sales.
“We’re only in our second holiday and the consumer is indicating that, for them, this product, with this great alignment of software, really is a must-have product and something that they need to have now,” Nintendo of America President Reggie Fils-Aime told The Hollywood Reporter in December.
The latest figures confirm that gaming is the top entertainment industry in North America and the world.


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Maine gas prices up by almost 6 cents per gallon
State average $3.73 per gallon
Maine residents are paying almost 6 cents per gallon more for a gallon of gas this week.
Price-monitoring website MaineGasPrices.com reports Tuesday that the average retail price of gas in Maine has jumped to $3.73 in the past week, which is 12 cents per gallon higher than the national average.
In-state prices are still almost 16 cents per gallon lower than on the same day a year ago, but less than a penny lower than a month ago.
The averages are based on a survey of more than 1,200 Maine gas stations.


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Accepting Bitcoin payments as a merchant has become so much easier compared to just a few years ago, back when Bitcoin was relatively unknown and rather worthless. Ever since more and more major retailers decided to get on board with Bitcoin payments, there has been a hefty competition between payment processors such as Coinbase, BitPay and GoCoin. And it looks like Igot will be gunning for the top position in this market.
The Fastest Growing Bitcoin Exchange in the World
Most Bitcoin enthusiasts will have heard the name igot before, as this is the world’s fastest growing Bitcoin exchange to date. And that is a good thing, as we can use a lot more competition where Bitcoin exchanges are concerned. More competition leads to lower fees, which is something we can all benefit from in the end.
But being a Bitcoin exchange is just one part of igot’s business model, as the company is looking to branch out their services. By creating a Merchant Solution – allowing retailers to accept digital currency payments for a small fee – igot will try to take Bitcoin adoption and awareness to new levels.
igot Merchant Solution – Available in Nearly 40 Countries
In order to attract as many retailers as possible, it is important to open up your service to a very broad audience around the world. Coinbase is active in 24 countries at the time of publication, and BitPay is doing slightly better. But igot could be a tough competitor, as they launch their merchant service in 40 countries right away.
As a merchant, it is not easy to decide which Bitcoin payment processor you want to use. All of them offer the same functionality – avoiding the Bitcoin price volatility by having your transactions converted to fiat currency on the fly – and most Bitcoin payment processors run on low to no fees at all.
Bitcoin transactions through the Igot platform will be subject to a 0.5% fee per transaction, which is still much lower compared to accepting traditional payment methods. Credit cards, for example, one of the most commonly used payment methods on the internet, are subject to a 3%-5% fee per transaction.
Note from the Author: igot’s Merchant Solution will be available in interesting places such as India, Kenya, Malta, and the United Arab Emirates. It will be interesting to see if Bitcoin can gain a foothold in these markets.
But this is where igot can truly shine, as their Bitcoin merchant solution is not just available for online retailers, but you can start accepting in-store payments in BTC as well. When you look at things from that perspective, the 0.5% fee per transaction becomes nominal and leaves business owners with a lot more money in their pocket on a monthly basis.
True to Bitcoin’s nature of borderless payments, igot will roll out their Merchant Solution to nearly 40 eligible countries. In doing so, the company gains a competitive advantage over companies such as GoCoin, Bitpay and Coinbase. And by offering to convert Bitcoin payments to any of the local currencies supported in these countries, they may see an explosive growth in the near future.
“Accepting Bitcoin through igot has multiple advantages for merchants.Integration takes just minutes, and it protects businesses from both credit-card chargebacks and price volatility. Perhaps most importantly, Bitcoin is a free marketing tool that is likely to increase overall revenue. This is a win-win situation for merchants and the Bitcoin community. With a flat 0.5 percent transaction fee, we expect to get a lot of traction.” – Rick Day, igot Co-Founder
Thorough Security Checks
Igot’s plans are very ambitious to say the least, and one of the key areas will be to thoroughly “vet” their customers for any illegal activity. The Merchant Solution is compliant with the most stringent security standards, and there are multiple fraud prevention methods in play to make sure everything is done in accordance to the law.
Every merchant and individual user of the igot platform will go through multiple stages of verification before being given access to all of the available tools. On top of that, igot has implemented bank-grade 2FA in order to properly protect customers’ funds. Last but not least, the risk of chargebacks is nullified by Bitcoin’s non-refundable aspect.
Source: Press Release via Email


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The Chinese artificial intelligence company ZhiZhen Network Technology is well known to Apple. And this acquaintance was not the most pleasant a few years ago. In 2013, the Cupertino-based company sued the Chinese company, alleging that its Little i Robot software was suspiciously similar to its voice assistant Siri. It demands to declare the Chinese software illegal, but in the end, this wasn’t the case.
This event was preceded by the fact that in 2012 Zhizhen Network Technology first went on the offensive against Apple, claiming that it was using Siri unlawfully. It turns out that the “apple” voice assistant was patented a year later than the development of the Chinese company. In this dispute, Apple emerged victorious; it was not banned from using the technology in China or infringed on its rights.
And now, after several years, history repeats itself. Zhizhen Network Technology has again filed legal action against Apple, claiming its voice assistant Siri infringes a patent on the Xiao-i Robot, a chatbot owned by a Chinese company. In their lawsuit, the Chinese demand to impose a temporary ban on the production, sale and export of Apple devices with Siri. In addition to the ban, Zhizhen Network Technology demands compensation in the amount of about $ 1.5 billion in damages.
Gizchina News of the week
A Chinese company wants to ban iPhone production and sales
Unlike some companies that are suing Apple for patent infringement and wanting to profit from it, ZhiZhen is not a patent troll. The base of users of its software has more than 100 million users in China; including large Chinese companies such as China Mobile, China Telecom and several large banks.
Experts are rather skeptical about the prospect of banning the sale of Apple devices in China. The Chinese authorities will not agree to the conflict and stop the factories that produce the iPhone.
For months, there has been talk of when the iPhone 13 will be unveiled. Now Apple has announced that it will host a major event exactly one week later, on Tuesday September 14th. The presentation will be take place under the motto California streaming.
Apple usually unveils new iPhones at September events. Probably next Tuesday, the company will unveil the highly anticipated iPhone 13. Some of the new models could boast high refresh rate screens. In addition, all devices in the series should receive a reduced cutout for the face scanning system at the top of the screen. If this rumor is correct, the design of the notch will change for the first time; since the presentation of this element in 2017 as part of the iPhone X. Together with the new smartphones, the final version of iOS 15 will launch.


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While the major digital currencies suffer as a result of today’s drop in trading volumes, which coincides with the start of the implementation of the Indian tax decision, India
During these times, one of the inexpensive currencies took off as the currency market battled with India’s levies and Pakistan tensions, which amounted to regime change.
Indian crypto dealers began paying the 30% tax on cryptocurrency and virtual asset income in India on April 1st.
One of the most promising currencies, XEC/USD, gained sharply during trade on Sunday, rising by more than 20% during these times.
While the eCash currency increased by 55 percent in 24 hours, it began at $0.0001045 and soared to a high of $0.0001611.
The iCash currency’s growth corresponded with a large surge in trade volumes that topped $1.12 billion, compared to an average of roughly $60 million.
A quick and significant rise is urgent.
The currency of any cash climbed by 36 percent in a week, 63 percent in thirty days, 51 percent in sixty days, and 10 percent since the beginning of the year.
iCash has a market valuation of around $2.3 billion and is ranked 56th among cryptocurrencies in terms of market capitalization.
Bitcoin is now down around 1% at $46.4 thousand, while ETH/USD is down near $3.500.
While Solana gave up its morning gains to fall within 3%, down to the levels of $136, Ripple XRP trimmed its losses and is now down less than 1%.
Lightning number.. you won’t believe
Tera Luna/USD is still holding on to some of its morning gains, but it does not exceed 1%, while DOGE/USD is rising less than 2%, reaching $0.145 levels.
In contrast, Cardano, Avalanche, Polkadot, and SHIB/USD are down from 1% to 4%.
The author of this article does not recommend anything or nominate anyone, but rather observes the fluctuations of the market, since trading in digital currencies involves high risks, including the possibility of losing part or all of the investment amount. Thank you for your understanding


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A Maryland bar unveiled an innovative solution to help patrons remain socially distant when it fully reopens — inner tubes on wheels.
Fish Tales in Ocean City rolled out new “social distancing tables” on Saturday, recording their maiden voyages on Facebook Live.
“Only at Fish Tales can you find these special tables for social distancing,” a woman recording the video said.
“They are six feet apart. You can drink safely,” she said as a number of employees tested out the contraptions, wheeling them from the back of a truck onto the bar’s property.
The tables will be available to customers “whenever we are allowed to serve,” the woman recording the video said
Fish Tales, like many bars in the state, is open for takeout service. On-site services at restaurants and bars in Maryland remain prohibited.


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TAIPEI (Taiwan News) - Thousands of shoppers had to leave the Taipei 101 shopping mall Saturday evening after smoke erupted from its underground food court.
Heavy smoke could be seen from all around the area, one of the Taiwanese capital’s main shopping district, but the fire had reportedly erupted inside a ventilation channel at the food plaza, media reports said.
Even though nobody was reported injured and damage was rumored to be light, the mall decided to close early for the night, the Apple Daily reported.
Fire fighters had arrived en masse on the scene and were still investigating the cause of the smoke production.
The evacuation of the public had taken 20 minutes, Taipei 101 management said.
The incident comes at a difficult time since the landmark tower is preparing for its annual New Year’s Eve fireworks, an event which attracts hundreds of thousands of onlookers.


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The new tablet will come packing that OS, as well as a 10.1-inch screen, a fingerprint reader, IT manageability technologies, and corporate-level service and support. The company says that 3G wireless with Lenovo Mobile Access pay-as-you-go plans and 4G models will be available.
Based on Intel’s upcoming Atom processor, the ThinkPad Tablet 2 weighs a mere 1.3 pounds and is about 9.8mm thin. It also boasts multiple input methods, including multi-finger touch and an optional digitizer and pen for precision input. There’s also an optional keyboard and dock.
Other features include an HD display, front and rear-facing cameras for video conferencing and photos, noise canceling microphones, an HDMI port, a USB port, and wireless video streaming.
“Customers want a versatile device that fits their lifestyle and the many ways they use technology,” said Dilip Bhatia, vice president and general manager of the ThinkPad Business Unit. “Our new ThinkPad Tablet 2 marries incredible hardware and software to give consumers a great device for office, home or travel while also offering companies and IT managers the oversight they need to help secure and manage their company’s networks and data.”
Lenovo has yet to announce pricing or an exact release date. However, we should have a better idea about both before Windows 8 hits on October 26, 2012.


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Samsung Galaxy Note 10 first in the world to get a graphene battery
Lithium-ion batteries seem to have become a step closer to its disappearance. The portal iXBT, citing anonymous insiders close to the company Samsung, reported on the possibility of using a new type of battery from graphene in the future flagship Galaxy Note 10.
According to the publication, Samsung has completed testing of new battery and patented the relevant technology applications of graphene in batteries for mobile devices. According to insiders, graphene battery can be used in Samsung Galaxy Note 10, which will premiere until December 2019.
Compared to lithium-ion batteries, the graphene batteries will increase the battery life of mobile devices by 45 percent, and also allow you to charge your device to 100 percent in less than 20 minutes (12 minutes versus hours, according to experts iXBT). In addition, graphene batteries will be less wear.
Recall that previously appeared information that Samsung Galaxy Note 10 can lose the 3.5 mm headphone Jack.


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Barber shop tradition kept alive at Prout’s Corner
Fred Salaz is continuing the barber shop tradition at Prout’s Corner.
The Northern Kentucky resident recently opened Prout’s Corner Barber Shop in the historic building at the corner of Glenway Avenue and Guerley Road.
“There has been a barber shop in this location since Prout’s Corner opened in 1929,” Salaz said.
Before Salaz opened his shop, the most recent shop to occupy the space was Lee’s Barber Shop, which operated there for about 30 years.
“I enjoy the challenge of it, and the people,” Salaz said. “I have really good customers and I enjoy helping people look better.”
He opened Prout’s Corner Barber Shop with longtime West Side barber Dino Cittadino, who was co-owner of Ahead By A Hair in Western Hills for decades.
Salaz said he cut hair with Cittadino for several years in the 1980s, and when Cittadino and his business partner Geoff Robbins retired at the end of last year and closed their shop, Salaz bought their equipment.
“I was planning to open a barber shop in Kentucky, but after Dino retired he wanted to continue working part-time,” Salaz said. “We opened this shop. Dino already had his clientele in the area and a lot of them are coming back.”
A native of New Mexico, Salaz came to Cincinnati and attended barber college after graduating from Eastern New Mexico University.
“An Army buddy of mine talked me into visiting Cincinnati and I stayed here for barber college,” he said. “I met my wife (Joy) when I was in barber college.”
He cut hair for a little while and then became a professional disc golfer, he said. He was inducted into the Disc Golf Hall of Fame in 2007.
“Work got in the way of my disc golf,” he said. “It was a hobby that turned into a profession and now it’s back to a hobby.”
Salaz said he took a 25-year break from working as a barber, but never let his certification expire. When he wasn’t touring the country as a professional disc golfer he owned and operated a disc golf pro shop in Mt. Airy. He said he also ran a film delivery business for 13 years.
He went back to his roots when the opportunity to open his own barber shop presented itself.
“My life has come full circle,” he said. “I’ve had a good life and I love what I’m doing.”
Prout’s Corner Barber Shop is at 4896 Guerley Road.
The shop is open from 10 a.m. to 6 p.m. Tuesdays, Wednesdays and Fridays; 11 a.m. to 7 p.m. Thursdays; and 9 a.m. to 3 p.m. Saturdays.


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NEW YORK — The 72,000-square-foot Saks Fifth Avenue store in Skokie, Ill., and its lower-level 33,000-square-foot Off 5th outlet will both close in July, as the company continues to weed out weak locations and shift resources to flagships.
More closings are expected. Estimates from retail experts range from just under 10 to up to 15 regular-priced stores that ultimately could be closed. The parent company, Saks Inc., does not comment on potential closings. The timing of any closing announcement depends on agreements with landlords.
Since October, the Saks Fifth Avenue division has announced 11 closings, including Skokie.
As Saks seeks to raise sales productivity and margins, and work off lower inventories, additional Off 5th outlets also are expected to close.
Saks Fifth Avenue currently operates 57 stores and 52 outlets, as well as saks.com. The top 10 flagships are in Manhattan, Boca Raton, Fla., Atlanta, Beverly Hills, San Francisco, Chicago, Dallas, Boston, Miami and Houston, and several are getting beefed up this year, with the corporation pumping about $150 million into capital improvements.
Some other top stores are in Bal Harbour and Palm Beach, Fla.; Tyson’s Corner and Chevy Chase in metro Washington, and Troy, Mich.
A massive renovation project at the Fifth Avenue flagship in New York, the details of which were expected to be disclosed last fall, is on hold. The company has been distracted by government investigations regarding alleged improper collections of vendor allowances at Saks Fifth Avenue and accounting procedures related to the timing and the recognition of the allowances, as well as management changes.
The Skokie store, opened in 1978, has long failed to meet expectations and was downsized to include an Off 5th in 2003. Both units are leased.
“They should have closed this store many years ago. A lot of designers want to get out, and it’s been in dire need of renovation,” said a retail source. “Saks’ biggest dilemma is that it has too many stores, and the focus got off the flagships. They have been trying to run a Saks image across the chain, but with a limited budget. The dollars were spread too thin. Neiman’s has been much more focused.”
Saks Fifth Avenue stores in downtown Chicago and Highland Park in suburban Chicago reportedly took business away from the Skokie site.
Fred Wilson, chairman and chief executive officer of Saks Fifth Avenue Enterprises, said in a statement, “This announcement is consistent with our strategy of focusing our energy and resources on our larger and more productive units. We remain very committed to metropolitan Chicago, and we will be able to enhance our merchandise assortments and service offerings at both our flagship Saks Fifth Avenue Michigan Avenue store and our Highland Park location in order to better serve our many loyal Chicago-area customers.”
Two other Off 5th outlets in metropolitan Chicago, at Gurnee Mills and Woodfield Village, will stay open.
According to the company, 70 associates are employed in the Old Orchard Saks Fifth Avenue and 50 are employed in the Off 5th location. They will either be offered transfers or will receive severance packages.
Saks Inc. also operates the 232-unit Saks department store group. Last month, the company struck a deal to sell to Belk Inc. 22 Proffitt’s stores and 25 McRae’s stores, making up the southern group of department stores. The company is also seeking to sell its northern group of department stores, which includes Carson Pirie Scott and Bergner’s, among other nameplates.


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Reston, Va.-based TNS, which provides financial and payment services to telecom companies, has agreed to acquire Seattle-based Cequint for up to $112 million. Cequint provides caller ID-like products to U.S.-based carriers that includes the ability to identify where a user is calling from based on the incoming caller’s area code.
The deal includes an initial payment of about $50 million, consisting of about $46.7 million in cash and about $3.3 million in stock issued to certain Cequint executives. There’s an additional $62.5 million in cash pay-out if Cequint meets future profit targets extending to May 31, 2014. The deal is expected to close in the next three months. Quite impressively, TNS said Cequint is expected to contribute $2 million in revenue in the remainder of the year, and to be neutral to adjusted earnings within 12 months. If all goes well, TNS says the total transaction price will equal “one-times Cequint’s revenue.”
Cequint typically has worked with handset makers and carriers to pre-load the Cequint app on to handsets and then share a portion of the revenues with operators. Today, the software has been distributed to more than 30 million handsets, and has carrier partnerships with Verizon and AT&T (NYSE: T). The company


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SME confidence has slumped in the second quarter as the effects of rising rates and a stalling economy is felt, according to The Federation of Small Business’s (FSB) Small Business Index.
The FSB’s Index dropped to minus 14.2 points in the second quarter, down 11.4 points in the first quarter of the year, reflecting the pessimistic economic conditions small enterprises navigated over the past quarter.
Each sector was hit differently, with confidence among wholesale and retail firms declining by 12.6 points, and professional, scientific and technical firms being the only major sector to reach positive territory, hitting 7.8 points.
Steven Mooney, CEO of FundMyPitch commented:
“As economic conditions continue to present challenges to small businesses in the UK, more support must be shown to the entrepreneurs who will ultimately support the growth and stability of our economy. Times are tough for business owners as investors hold back on providing them with the adequate support they need to grow. As the UK rebuilds itself, SMEs will act as a key driver of growth and for the country to remain an international hub, increased business support is needed providing SME owners with the confidence they need to return to usual operations and fight back against uncertain times.”
This comes as the most recent inflation figures, falling to 7.9 per cent, stubbornly remain above the Bank of England’s target (2 per cent), which has forced the Bank to increase rates faster and higher than many predicted. Traders now expect that the base rate will reach a peak of 5.75 per cent.
More broadly, economic output fell 0.1 per cent in May from April, which could be down to the additional holiday from the King’s coronation.
Khalid Talukder, Co-Founder of DKK Partners commented:
“Businesses have faced turbulent times over the past few years and as uncertainty continues to prevail, it is no surprise that confidence has been shaken. However, despite the hardships that many small business owners have faced in recent times, they must remain confident that the economy will bounce back as they play a vital role in its recovery, acting as the lifeblood of the UK.”
“As SMEs foster innovation, attract overseas investors and promote international relations, the correct support is needed to allow the UK to cement its global position, with sights set on tech superpower status. We have seen business support from the government and regulators since the beginning of the year and as it unveils the new Digital Sandbox, hoping to support businesses safely develop technology offerings, it is clear the UK is promoting business growth, providing a positive outlook for SMEs across the country.”
Martin McTague, FSB’s national chair, commented: “Amid the rate rises and sticky inflation of the second quarter, and with economic growth underwhelming at best, it’s disappointing but perhaps not surprising that the momentum from the first three months of the year petered out somewhat”.
Over four out of five (85 per cent) firms had said that costs had risen since the same time last year amid rising rates and soaring inflation.
New records were also hit as almost on third of firms who applied for finance were offered a rate of 11 per cent or more, whereas this was only true for just 12 per cent of firms last year.
McTague added that “small firms are survivors and there are positive signs in our findings” and recent inflation figures offer “a small sign of hope that inflation may finally be on its way to being tamed”.


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Stories that mention Vipin Gopal
Strengthening supply chain resilience amid VUCA
Fri, 26th Nov 2021
As Australia begins to emerge from lockdown manufacturers continue to suffer from shortages, hindering the recovery of their downstream customers. Whether it's transportation bottlenecks or crippling ransomware attacks and labour shortages, shocks to supply chains now reverberate on a global level.


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The company has announced new requirements for traceable, forest-monitored palm oil across its supply chain.
CHICAGO, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (NASDAQ:MDLZ) today announced significant progress in advancing requirements for traceable, forest-monitored palm oil and confirms strong progress against sustainable sourcing goals.
The new requirements include traceability to plantation and satellite monitoring covering all palm oil concessions* supplying mills attributed to the company, against the deforestation criteria set out in its Palm Oil Action Plan. All mills must be identified on Global Forest Watch, with no active grievances against concessions in their direct supply, or operated by the same producer groups elsewhere. In addition, suppliers must have third-party assurance of their monitoring process and systems used and be subject to cross-check by Mondelēz International.
From Q1 2021, the company expects 80% of its palm oil to meet these enhanced expectations with strong supplier partnership, working to increase coverage as quickly as possible.
The enhanced sourcing requirements will improve transparency across the sector by requiring suppliers to confirm sustainable sourcing practices across their entire supply chain by 2025, not just the portion supplied to Mondelēz International. They form part of Mondelēz International long-term ambition to eliminate deforestation and forced labor in the palm oil supply chain and support the aims of the Consumer Goods Forum #Forestpositive Coalition.
“We have a unique opportunity to help create a future where sustainable practices are universal across the palm oil sector,” said Quentin Roach, Chief Procurement Officer at Mondelēz International. “As a company we are continuing to pioneer partnership and action with our suppliers to ensure they share and actively support not only our commitment, but the larger collective commitment to realize a forest positive future where a highly efficient ingredient like palm oil is sustainably sourced across the sector.”
Any supplier to Mondelēz International will be required to:
- Take full responsibility for eliminating deforestation in their own operation and upstream supply chain by providing traceability to plantation and satellite monitoring covering all palm oil concessions* supplying mills attributed to the company.
- Improve traceability and transparency by identifying all mills attributed to the company on Global Forest Watch, with no active grievances against concessions in their direct supply, or operated by the same producer groups elsewhere.
- Demonstrate implementation of supplier progress via third-party assurance of their monitoring process and systems.
- Take action against exploitation of workers in the palm oil supply chain by strengthening our supplier expectations on Human Rights – spelling out the due diligence steps we expect them to follow in order to identify and mitigate risks in their own operations and supply chain.
“AAK is delighted that Mondelēz International has enhanced its commitment to sustainable palm oil, and is committed to working with Mondelēz International to achieve its goals. Sustainability is key to AAK’s future, including palm oil sustainability in particular. It is critical that representatives along the supply chain join forces to continue the momentum towards a fully sustainable palm oil industry. As one of the key leaders in the market, Mondelēz International sends a strong message with its new announcement, joining AAK as a catalyst for change,” said Jan Lenferink, Vice President AAK AB.
“We are supplying traceable palm oil from areas covered by our in-house land use change monitoring program to Mondelēz International and have always been impressed with their passion and sense of urgency for sustainability. We have appreciated their collaborative approach in setting high standards and utilizing industry frameworks that can be leveraged by all suppliers. We share the belief that close engagement with our customers and suppliers is key, as our sustainability goals can only be achieved through the commitment and collaboration of all stakeholders. We are proud to be able to support Mondelēz International in advancing their sustainable palm oil sourcing and deliver a positive impact together,” said Ben Vreeburg, Sr. Director Sustainability for Tropical Oils, Bunge Loders Croklaan.
Despite representing around 0.5% of demand for palm oil, Mondelēz International has taken a leadership position on palm oil sustainability and recognizes that all actors have a role to play in achieving a solution to this complex problem. The company has maintained 100% RSPO palm oil coverage since 2018, 98% of the company’s palm oil comes from suppliers with aligned-to policies across their entire supply chain and the company takes action against groups who don’t comply, including the suspension of 89 mills in 2019.
“Many corporations are working hard to address deforestation and achieve better transparency in their supply chains. We are proud to work together with MDLZ to further reduce the environmental impact of the palm oil sector, and make meaningful progress more visible using the combination of daily satellite analytics and granular supply chain data,” said Niels Wielaard CEO of Satelligence.
For further information, refer to our website www.mondelezinternational.com for more information. Specific links follow to our:
*Concessions: corporate plantations on government-licensed land (in SE Asia), typically attached to mills and part of larger producer groups.
About Mondelēz InternationalMondelēz International, Inc. (NASDAQ: MDLZ) empowers people to snack right in over 150 countries around the world. With 2019 net revenues of approximately $26 billion, MDLZ is leading the future of snacking with iconic global and local brands such as OREO, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.


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Carreducker holding specialist course with limited places this October
Confident the new facility will improve testing in global supply chains, including in-house laboratories.
National shoe charity launches annual awards celebrating footwear talent
We find out more about the charity addressing poverty and environmental issues
BFA member Katie Cary explains the success behind her brand ‘Rogue Matilda’
Full round up of the winners at the Drapers Footwear Awards 2019
…this year’s Great British High Street Awards are open for entries.
– the world renowned company launches the eighth year of its successful training scheme
The chance for budding shoe talent to shine as respected awards open for entries
Special event and prestigious award recognises and celebrates up and coming footwear talent


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According to Chad Hurley, co-founder of YouTube “On whether we will pay users for the content they upload, the truth is that we will move in that direction.” This statement can be heard in a video that appears to have been recorded during the World Economic Forum held in Davos (Switzerland).
No details have been provided on the amount that users can get or the bases on which the content will be paid.
According to their statements, YouTube seeks to create a large enough community before beginning to pay its users for content. “We don’t want to create a system that is motivated by financial reward. When you start paying people money from day one, what you get is that the people you have attracted switch to the next highest paying provider.”
The system could work in a similar way to what happens in the world of music, where the profits are shared with the record company that owns the rights to the music.
YouTube has indicated that it is developing a sound fingerprint technology that would identify the sounds used in the videos displayed on the website and that would allow record companies to claim the corresponding benefits for their use.
Once the technology is up and running, record labels will be able to profit from the videos that people create on their travels, for example. “With our platform, they have the market opportunity to generate profit for these types of materials […] It means opening a new market that did not exist until now. “
Hurley does not describe how the creator of the video can earn money from such a video, although it would potentially be the record companies who could share their profits with such video creators.
YouTube announced last year, a day before it was acquired by Googole, that it was working on a system with several record companies and that it could allow users to license content from record companies for use in their videos. The record company and YouTube also reached an agreement by which they would share the income corresponding to the music and videos shown on YouTube.
YouTube has had problems with other content owners who are not very happy with being compensated for their copyrighted materials that are being shown on YouTube. Last week YouTube received a subpoena from Fox television to remove the videos corresponding to the company’s television programs and that were being shown on YouTube.


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Xiaomi upgrades its ecosystem strategy with sub-brand
China's top smartphone maker Xiaomi has reshuffled its ecosystem strategy by launching a new brand, Mijia, to fully explore the smart home sector, founder Lei Jun announced at a media conference held in Beijing Tuesday.
The move is aimed at differentiating products made by Xiaomi itself and its ecosystem partners, according to Lei. He predicted that products sold by these companies via its own e-commerce platform mi.com would exceed 10 billion yuan ($1.54 billion) this year.
The first product to enter the market under the brand Mijia is a smartphone-controlled induction heating pressure rice cooker. Users can scan the barcode on their rice bags so the device can cook the rice according to brand, type, and origin. Currently, the app can identify 200 brands of rice, and that category will be expanded with the growth of its customer base.
The rice cooker is priced above most Chinese-made ones, at 999 yuan and will be available on March 31.
There would be a new product from this ecosystem each quarter, Lei added.
Previously, under the Xiaomi brand, Huami Inc, which was founded in 2014, had sold 18.5 million fitness-tracking wristbands, ranking No 2 in the smart wearable sector globally. Likewise, Zimi Tech had sold 46.9 million portable power rechargers and Smartmi (or Zhimi in Chinese) had sold one million units of air purifiers each year, Lei said at the conference.
Xiaomi has been building an ecosystem around its core business since two and a half years ago. In addition to making smartphones, it also "makes startups", Lei said. He said Xiaomi has invested in 55 companies, at a speed of one company each every 15 days. The experienced venture capital investor added that 29 companies were set up by Xiaomi from the scratch, including naming, organizing management teams and choosing products to manufacture. Among the 55 ecosystem companies, 20 already have their own products, five have gained an annual revenue of more than 100 million yuan and two have raked in one billion yuan yearly.
Liu De, co-founder of Xiaomi, said the company has a team of 170 employees in charge of its ecosystem business. These employees, who joined Xiaomi at a rather early stage, are responsible for communication between Xiaomi and its ecosystem companies and making sure products from these partners are in line with Xiaomi's culture and design standards. They would also help them with branding, supply chain, sales channels and financing.


text: This week's iPhone OS 4 announcement came with more than just multitasking. CEO Steve Jobs announced a brand-new ad platform for the iPhone and iPad — iAds. The ads will be served directly in applications, and 60% of the ad revenue will go to app developers. According to Jobs, one of the reasons for this is to help developers make more money, as many are creating free or low-priced applications. Since I haven't seen an iAd (and won't until this Summer when OS 4 becomes available), I can't deem the good or bad just yet. But I'm curious whether or not this will encourage developers to create higher priced, ad-free applications. And if they do, would you pay more money to use it?


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An invented brand, out of a fake radio ad, draws the attention of a listener who, leveraging on social networks, turns the spot into a real enterprise, and a great Xmas ecommerce success. With a tricky idea: to close shop after Valentine’s Day, just to remain “a real marketing case-study”
“The idea came up driving on the highway, listening to the 105 Zoo radio show [the most politically incorrect, airwave-suspended, sanctioned radio show in Italy]. That day, they were airing a bunch of fake, eighties’-style advertisements, those that make fun of early commercial TV ads”. One of those claims was the “Fumagazzi watches”, with the claim ‘Only for the good guys’ [which rhymes in Italian: “Fumagazzi solo per Bravi Ragazzi”]. “I felt like the radio host was genuinely bemused, so I decided to act “, says Giorgio Pertusati, entrepreneur and co-founder (together with Riccardo Maria Mantero, an IT executive at a major Italian bank), of the Orologi Fumagazzi, among the very few companies in the world to be born after their commercial went on the air.
Overnight from the show, they have already registered web domains and brands, then they contacted a Venetian artisan (Chronovenice) who makes the products and sells them via its ecommerce platform. Within three weeks, the Fumagazzi Brothers have had up and running a full-fledged, small-scale luxury watches brand.
“The guys from the Zoo” – says Marcello Fumagazzi, Pertusati’s nickname – “took it very easy at first. The day after, our website was going live, so I sent an email out of the blue to the editor’s staff telling them to check it out on air, and that same day the show opened talking about us”. The fake commercial continued to be aired for few days, and more ads of Fumagazzi gags were added later on. Meanwhile, the emails and contacts on the site were peaking by the tenths of thousands. “The radio was pushing a merry-go-round, and we were the only ones to know the potential”, underlines Pertusati. “We intercepted a wave, noticed an opportunity: few days later, when we received the call from the show’s manager, we asked them to let us continue. Until then, neither the radio nor the show were mentioned in our funny website, so no one could prove that we were leveraging or abusing their brand”
“Now, some common ground has been found”, explains the entrepreneur. The name of the famous radio broadcast appears on the Fumagazzi Watches homepage, and previews of the watches’ models are posted on the Instagram stories of the 105 Zoo’s crew: “We have carte blanche on the product, there has been no contract and they’re not shareholders of the company: for Mediaset [owner of Radio 105 and part of the Berlusconi media conglomerate] Fumagazzi is a social marketing experiment “.
1,500 Fumagazzi watches were sold in less than a month so far, 15 days before Christmas, Pertusati says, but the feeling is that they would have been many more if only the right stock was available: “We would have easily reached 5 thousand,” he says. In the meantime, some other models have been added tot he initial lineup, and the first women’s models are appearing in the store, even if the co-founder reveals the desire to close shop just after Valentine’s Day: “A case remains a case only if it blooms out and then fades away soon”.
The lesson of Cacao Meravigliao
It’s not the first time that a fake commercial in Italy generates a business idea. “Thirty-five years ago” – remembers Pertusati – “it was Cacao Meravigliao’s turn: Renzo Arbore, in one of his brilliant TV shows, broadcast the advertising of a fictionary Cocoa brand. The show was so hugely popular, housewives were searching for it on the store shelves. He had to go onstage and explain that the product didn’t exist” [someone made it finally for sale, but without commercial success].
The difference here is that watches have a much higher unit value than cocoa – the Fumagazzi price list spans between 150 and 1,500 euros – and thanks to ecommerce and pre-ordering, a business idea becomes less risky and more profitable: the forecast turnover could reach half a million US$ in few weeks.
“The Venetian craftsmen we hired to build the models collaborate already with many famous brands,” he reveals. “We rely on them and we rely on their online platform to sell Fumagazzi: we already count many thousand pre-orders, and it’s just the beginning.”
Both founders have their daytime jobs to run, too… more than money, the dream is “to make some noise and a bit of marketing history: we hope that there will be a “before Fumagazzi” and an “after Fumagazzi”. Just as today we remember the old time’s Cacao Meravigliao, we hope that in the future people may think about us when a fantasy spot is aired on the radio or the TV”. A story of ‘good guys’ who became entrepreneurs, and that of “Velox”, “CentoCambiali” or “Topalopa” watches sold by the thousands to make fun of a self-bespoken market, but without kidding too much.


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AF&PA Applauds US, Indonesia Illegal Logging Talks
April 4, 2006 - The American Forest & Paper Association (AF&PA) applauded today's announcement that U.S. Trade Representative Rob Portman and the Indonesian Minister of Trade Mari Pangestu had begun negotiations on a landmark agreement to work together to combat illegal logging in Indonesia. The negotiations are part of larger discussions under the United States-Indonesia Trade and Investment Framework Agreement (TIFA).
"Illegal logging causes environmental damage and economic hardship that affects more than just the country where it is occurring," said W. Henson Moore, President and CEO of AF&PA. "Putting an end to illegal logging is something that everyone should get behind. Governments, industry and environmental NGOs can and should work together to make this happen. These negotiations are a key step toward making real progress in the fight against illegal logging"
A 2004 report commissioned by AF&PA analyzed the extent and economic impacts of illegally produced and traded wood products. According to that report, up to ten percent of global timber production could be of suspicious origin and illegal logging depresses world legally harvested wood prices by seven percent to 16 percent on average, depending on the product. Were there no illegally harvested wood in the global market, the study estimated the value of U.S. produced wood could increase by over $460 million each year.
"The flood of illegal timber into world markets drives down the value of legally sourced timber from places like the United States," continued Moore. "Our companies are losing $460 million in business each year. Further, the existence of illegal logging undermines public confidence in the forest products industry as a whole."
In 2003, AF&PA joined with the U.S. Department of State, Conservation International (CI) and others to announce the launch of the President's Initiative Against Illegal Logging. The negotiations announced today are a part of that initiative. And in 2005, AF&PA joined with CI to create the Alliance to Combat Illegal Logging, a partnership designed to help put a halt to timber operations in national parks and other protected areas.
SOURCE: The American Forest & Paper Association


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There’s nothing like a good old “PC vs. Consoles” debate, and Avalanche Studios CTO seems only to keen to ignite it again with comments that suggest the PS4 will be top of the heap for a while to come.
“The consoles desperately need a boost since having been overtaken in terms of performance by PCs several years ago,” said Linus Blomberg in an interview with GamingBolt, “and also losing market share to mobile platforms.”
“I’m glad Sony decided to go with 8GB RAM because it means that the PS4 will out-power most PCs for years to come.”
Presumably Blomberg refers to mass-market PCs and not gaming PCs, otherwise that statement is just plain confusing! Blomberg also implied that Sony were future-proofing their hardware with their current approach. “The off-the-shelf philosophy behind the architecture makes sense from a pricing and heating point of view, but it also means that Sony more easily can make incremental improvements of their system,” he said.
“If that’s actually their plan I don’t know, but it could help preventing the inevitable loss of market shares that the long console cycles entails.”
Source: GamingBolt via VG247


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The Power of Pink
Pink Days in Bloom, Newfoundland, Canada
It’s rare that we take a trip across the border, but Pink Days in Bloom has become a mainstay on the small Canadian island of Newfoundland, thanks to avid gardener Linda Ryan.
“I was looking through gardening magazines and came across the ad for Invincibelle Spirit hydrangea and thought I would try to seek the plant out,” Ryan says. “I tried a few garden centers here, and they didn’t have them. Then I went to a garden center about 20 minutes outside of the city, Pat’s Plants and Gardens, and Pat Puddester is the owner, and she had a ton of them.”
“That first plant sale we raised $2,300 in 2011, and the following year I approached a bunch of other garden centers,” Ryan says. “Everyone signed on and we raised $25,000 in the second year.”
Since inception, Pink Days in Bloom events have raised more than $100,000.
Last year, there were 17 different Pink Days in Bloom events that expanded beyond the growing season.
“We have a very short growing season here in Newfoundland; it’s only from June to the end of August really,” Ryan says. “We’ve gone beyond that now and extended the Pink Days in Bloom season as we call it even beyond the growing season right up until the end of December.”
Last year a garden center launched Pink Poinsettia Days in Bloom to continue fundraising around the holidays, while other garden centers and nurseries joined in on the Pink Tree Project, donating a portion of all pink flowering trees they sell to CBCF.
One upcoming event for Mother’s Day this year is a partnership with a local florist to be called Pink Rose Days in Bloom, where they’ll donate a percentage of pink variety sales to the cause.
“I pitch my ideas, and I’m always brainstorming things,” Ryan says. “They register their events through the Canadian Breast Cancer Foundation here in the Atlantic region, and I work with them to work out the details and promote it.”
The roots of Pink Days in Bloom are in the garden center industry, but other businesses in the community have jumped on board as well.
“In Pat’s community [Pat’s Plants and Gardens], four retailers cooperate and the whole community gets involved on what’s called Pink Weekend,” Ryan says. “In addition to Pat’s Plants hosting, we have her neighbor right next door which is a gift shop, and we have a boat tour just down the road, and a restaurant just down the road. They give a percentage of their sales for that day for the cause.”
Pink Days in Bloom “The Little Christmas Fair” brings together more than two dozen artisans and performers, one garden center selling Christmas arrangements, and Christmas Wreaths for the Cure with fresh balsam fir wreaths. This event alone draws more than 800 people in six hours, according to Ryan.
“Pink Days in Bloom is a really fulfilling way to support the breast cancer community, and it’s about raising awareness about breast cancer,” Ryan says, “But it’s also important in raising awareness about the garden center industry, a wonderful way to encourage healthy, beautiful living through gardening.”
Businesses have also used the events as a way to engage employees and contribute to the overall customer experience.
“It gives the employees a satisfaction that it offers them an opportunity to go beyond their everyday job duties,” Ryan says. “If you can eavesdrop on some of the conversation during these events people are really connecting, and I think this helps make a lasting impression on the customers and the employees.”
One of the biggest changes of heart from Pink Days in Bloom was with one of the starters of it all, Pat Puddester.
“I get goosebumps because I remember this conversation with Pat so well,” Ryan says. “She had her garden center up on the market for a couple months, and as soon as the first person walked in the door for Pink Days in Bloom, she said it wasn’t for sale anymore.”
read on to the next page >>


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A press release issued earlier today announced that Whole Foods Market is pursuing a second area location in Germantown.
From the release:
GERMANTOWN, Tenn., October 23, 2013 — Whole Foods Market and Cypress Realty Holdings Company, a local development company, are targeting the Poplar Avenue corridor in Germantown for the metro area’s second Whole Foods Market store.
Cypress Realty Holdings Company in conjunction with Ford Jarratt Realty & Development Company has submitted plans to the City of Germantown to develop a freestanding Whole Foods Market. The proposed store will occupy 41,000 square feet on the southeast corner of the intersection of Poplar Avenue and Pete Mitchell Road. The site is on the eastern edge of the Germantown’s Central Business District directly across Poplar Avenue from the Germantown Collection Shopping Center.
The next step in the process is approval at the December 3 meeting of the Germantown Planning Commission. According to the developer, Germantown officials and staff have been very supportive of the project.
If approved at the public meeting on December 3, the project will proceed to the Mayor and Board of Aldermen on December 19.
In addition, a Facebook page titled Bring Whole Foods to Germantown was launched to gather support for the project.


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The new 2015 Honda CR-V sports utility vehicle will be unveiled at the Paris motor show this week - and these are the first pictures of the mid-life facelift.
It’s a modest refresh, with new headlamps, front grille and bumpers at the nose, while the rear of the latest CR-V is distinguished by on-trend vogueish LED lamps, tailgate and bumper.
What else do we know about the 2015 Honda CR-V?
It’s not just a cosmetic fillip for the CR-V; new, more powerful downsized engines are also available to tempt penny-pinching buyers.
The headline news is the higher-powered 1.6-litre i-DTEC four-cylinder turbodiesel, which replaces the larger 2.2 i-DTEC. Honda’s grasped the potential of downsizing and running away with the idea, as part of its cheesily named Earth Dreams technology drive.
It’s commendably punchy, producing 158bhp and 258lb ft, and produces 11% less CO2 than the engine it replaces. Honda’s being coy with the exact output, saying it’s ‘sub 130g/km.’
Buyers can mate this new TD with a six-speed manual or a nine-speed automatic - all the better for reducing rpm and fuel consumption. Should be a quiet M-way cruiser, too.
The cleanest CR-V
The two-wheel drive CR-V continues to be powered by the less powerful 118bhp 1.6 i-DTEC, promising 117g/km CO2 emissions.
Why the Honda CR-V is a big hit
Honda proudly claims the CR-V was the world’s best-selling SUV in the first quarter of 2014.
Sales of 165,017 globally go to show how popular Honda’s soft-roader is in multiple markets around the world.
Not bad for an SUV built at the Swindon factory in the UK.
>> See more highlights from the 2014 Paris motor show here


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LONDON – 29 November 2017 – A huge rise in delivery volumes processed across the Metapack delivery platform of 26% year-on-year over Black Friday and the Cyber Weekend, outpaced even the most optimistic predictions made by the company in the run up to the Peak weekend.
Metapack, the global leader in eCommerce delivery technology had expected to see a rise in delivery volumes of around 20%, but after shipping a total of 11 million parcels on behalf of European based retailers and brands between Black Friday and Cyber Monday, the company confirmed that the increase was far higher than predicted.
These figures reflect other industry intelligence which indicates that while shopping on the high street on Black Friday fell away, conversely eCommerce sales rose. IMRG has said that the amount spent on UK online retail sites on Black Friday alone was up 11.7%.
In terms of industry sectors, Metapack saw the greatest growth of orders processed in sport and leisure with a 34% uplift, clothes and fashion which rose by 32% and toys and games where uplift was 22%.
“We did anticipate healthy growth over the Cyber Weekend,” said Bruce Fair, Chief Revenue Officer at Metapack, “However, these figures are beyond our expectations and reflect not only the continued huge popularity of Black Friday and the Cyber Weekend, but the success of our retail and carrier partners in engaging customers and meeting their eCommerce expectations.”
Peak Index and Carrier Heatmap
Metapack will track the delivery volume changes as we continue to move through the peak period with particular emphasis on parcel volumes every Monday from now until Christmas, and a separate Carrier Performance Heat Map will illustrate how the top 10 UK carriers are performing. Further details are available here.


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Last updated on November 10th, 2020
The Sports and Entertainment Venue Aims for Streamlined Operations.
Visitors to Seattle’s CenturyLink Field will now find a smoother experience when making purchases during events. The venue recently announced that it is fully transitioning to cashless operations in an effort to curb lines and allow guests to get back to their seats faster.
The announcement, made on CenturyLink Field’s official website, explains that the transition also applies to the CenturyLink Field Event Center and the WAMU Theater. Going forward, retail kiosks, concessions, and on-site parking at these locations will only accept credit cards, debit cards, and prepaid cards.
Cards are already being used for at least 75% of all transactions at CenturyLink Field, according to Seahawks Senior Vice President of Business Operations and CenturyLink Field General Manager, David Young. Customers who only carry cash or don’t have a payment card can use ReadySTATION® kiosks located throughout the stadium. These machines conveniently convert cash into prepaid cards, and they can also be used outside the venue.
CenturyLink Field Offers More Seamless Experience for Guests
Customers who prefer to pay with card over cash will surely appreciate the transition, which other pro sports venues across the country have already made. Mercedes-Benz Stadium in Atlanta and Utah’s Vivint Home Arena are just a few examples.
Fulfilling transactions with a payment card moves faster than with cash. This rings especially true for cards enabled with contactless payment technology. While the amount of time saved may not be noticeably different for a single patron, that changes when multiplied by dozens of customers waiting in a concession line. Ultimately, it allows consumers to return to their seats faster and continue enjoying the event.
The move towards cashless also gives patrons the opportunity to boost rewards earnings when using their credit cards. For football fans, this means more opportunities to earn rewards if they have the NFL Extra Points Credit Card, which earns additional points on select in-stadium purchases. Home to the NFL’s Seattle Seahawks and MLS’ Seattle Sounders FC – and now the XFL’s Seattle Dragons – CenturyLink Field also hosts a number of other events, including high-profile concerts.


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Parisians’ love of IKEA proves beyond a shadow of doubt that the Swedish build-it-yourself furniture giant has true universal appeal. There are eight superstores in the Paris suburbs alone. France’s The Local reports that IKEA’s newest French location will be right smack in the center of the city, moving into a two-floor, 54,000-square foot space previously occupied by a shuttered clothing retailer, a stone’s throw from the legendary Jardin des Tuileries. So now, the important question: Is IKEA’s signature (and objectively delicious) Swedish meatball plate too gauche for the city that invented haute cuisine?
Owing to the smaller size of the upcoming store, it hasn’t been confirmed that there will be a café at all. But where, you ask, are the loudly arguing couples supposed to take respite and drown their misery in dollar hot dogs and elderflower juice boxes?
“We are starting from a blank page,” President of IKEA France Walter Kadnar told The Local. “It won’t just be a store that’s a quarter of the size of our other outlets but a whole new format.” Focused more on home furnishing and space-saving designs for small space-dwellers than displaying four kinds of futon frames, the new IKEA could easily forgo full-on catering operations in favor of the chain’s popular self-serve Swedish market. If the central Paris location does serve hot food, however, shoppers can expect to see the iconic meatballs (“boulettes Suédoises”) as well as more French-leaning fare like quiche and salad, pain au chocolat, fromage blanc with fruit, salmon burgers and creamy mustard chicken panini.
It’s not just Paris allocating prime real estate, either — plans for smaller homewares-focused IKEA centers in bustling neighborhoods in New York, London and the Saudi capital of Riyadh are already underway. We anticipate an urban lingonberry sauce trend.


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Navigating Economic Uncertainty: The Federal Reserve's Approach to Rates and Inflation
22 de Enero de 2024
In recent developments, the Federal Reserve of the United States of America has maintained a steady course on interest rates and inflation, signaling a cautious approach to supporting the economic recovery while addressing concerns about rising inflation.
During its most recent policy meeting, the Federal Reserve opted to keep its benchmark interest rate unchanged, reaffirming its commitment to providing accommodative monetary policy to bolster the ongoing economic rebound from the COVID-19 pandemic. The central bank has indicated that it will maintain near-zero interest rates until it observes substantial progress toward its objectives of maximum employment and sustained inflation at 2%.
In addressing inflation, the Federal Reserve has acknowledged the recent increase in consumer prices but has characterized it as transitory, attributing it to temporary factors associated with the reopening of the economy and disruptions in the supply chain. The Fed has underscored its intent to closely monitor inflationary developments and to take appropriate action if necessary to ensure price stability.
The Fed's decisions have sparked debates among economists and market participants about the potential risks of inflation and the timing of future interest rate adjustments. Some experts have expressed apprehensions about the prospect of prolonged high inflation, which could prompt the Fed to modify its monetary policy sooner than anticipated. Others have voiced support for the Fed's patient approach, citing the need to prioritize the recovery and avoid premature tightening that could impede economic growth.
In summary, the Federal Reserve's recent decisions reflect its cautious and deliberate strategy for managing monetary policy amid evolving economic conditions and inflationary pressures. The central bank continues to navigate the delicate balance between fostering the recovery and addressing inflation concerns, with implications for financial markets and the broader economy.


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Champagne exports across the globe has increased by 3.4% in value while the number of bottles exported fell by four million in 2012, according to the Comité Interprofessionnel du Vin de Champagne (CIVC).
UK remains Champagne’s number one market, for the 17th year in a row. Amounting to 32.4m bottles; the UK is 6.1% down in volume but 0.5% up in value.
The increase in value was due to heavy spending from wealthy consumers of Russia and China living and visiting London. Restaurants, hotels, elite bars and clubs account for 30% of UK sales.
“We are seeing a new market emerging, as discerning consumers come and settle in London from developing Champagne markets such as China, India and Russia,” said Françoise Peretti of UK Champagne Bureau.
She pointed out that the value increase is due to restaurants, hotels, elite bars and clubs that account for 30% of UK sales.
“London truly is leading the way as the place to come and explore the best of Champagne’s diversity,” said Peretti.