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SAN LORENZO — Developer Civic Partners has responded to the Village Homes Association’s request for a chart of prospective tenant contacts for the Village Town Center, the downtown the community wants redeveloped into a vibrant shopping area.
“We want to be a destination point so we can get something another community doesn’t have,” Homes Association President Wulf Bieschke said.
The Homes Association sent a letter to Boise, Idaho-based Civic Partners in February asking it to provide a monthly report of potential tenants contacted and their responses. The first report, sent Friday, listed 20 contacts for space ranging in size from 3,000 to 50,000 square feet.
Village Town Center covers a couple of blocks on the east and west sides of Hesperian Boulevard, a few blocks south of the Interstate 880 and Interstate 238 interchange. Some potential tenants were interested in moving there only if the Albertsons store, currently on the east side of Hesperian Boulevard, moves to the west side, where it would be more centrally located as an anchor tenant to attract additional retailers.
The sale of Albertsons to Save Mart was finalized Feb. 23. The report from Civic Partners indicated the developer had agreed to continue to pursue the supermarket as an anchor tenant on the west side of Hesperian for a 90-day period following the sale’s closing. That period runs through May 24.
“We agreed that the supermarket has always been the No.1 priority,” Michael Herrero, development manager for Civic Partners, said of his meetings with the different parties.
He said the focus during the 90 days is getting a lease for a new store, and he added that a lease proposal for construction of a new store on Hesperian Boulevard’s west side has been presented to Save Mart. While Save Mart has not been in a position to negotiate, feedback meetings are scheduled within the next couple weeks.
Several businesses were “definitely interested” regardless of the supermarket’s location, the report stated. These include a sporting goods store, pet supply store, casual dining restaurant, coffee house and bank. The restaurant requested a corner location and the coffee house was interested in the cap of a building at Paseo Grande and Hesperian Boulevard.
Colliers International and Riedy Commercial Real Estate prepared the contact listing. Confidentiality of negotiations prevented prospective businesses from being named, Herrero said.
A couple of retailers — a hardware and an electronics store — were interested only if the supermarket moves across the street. Other retailers such as an import shop and a bookstore would be interested only if the area is part of an upscale “lifestyle” center, the report said. The bookstore expressed a need to be near higher-end restaurants and noted that Bayfair Center was a near fit. About four contacts on the list were not interested at all.
Civic Partners agreed to install a sign along Hesperian Boulevard and take out a newspaper ad on project status once the supermarket decision is made. It also has received permission to install a sign at that time.
Herrero added that a major marketing effort is scheduled for late May in Las Vegas at the International Council of Shopping Center’s annual convention.
Rachel Cohen can be reached at (510) 293-2463 or email@example.com.


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This year, Santa Claus’ elves are wearing camouflage.
Soldiers from the 426th Civil Affairs Battalion in Upland last week dropped off three truckloads of toys at Santa Claus Inc., a 6,000-square-foot warehouse in San Bernardino that doubles as the North Pole.
Toys from Operation Toy Drop are among thousands of gifts that will make the holidays a little brighter for a record 17,000 underprivileged children in the San Bernardino, Colton, Redlands and Rialto school districts.
The local toy drop is part of a national event.
“This is the first year that Fort Bragg has expanded its toy drop to the West Coast,” said Jolyne Roberts, secretary of Family Readiness Group of the 426 Civil Affairs Battalion – Airborne.
“The toy drop project works in conjunction with the Kids Wish Network, a national nonprofit dedicated to improving the quality of life for children in life-altering situations.”
Roberts estimated children’s clothing and about 2,000 toys were dropped off by Lt. Col. James Orbock, Capt. Patrick Smith and three other soldiers.
“At Fort Bragg, the airborne soldiers aren’t allowed to jump unless they take a toy with them,” she said.
Little trucks and cars, doll furniture, dolls, games, strollers, high chairs and car seats will join the thousands of gifts already collected by Santa Claus Inc. for distribution beginning next week.
Now in its 59th year, Santa Claus Inc. helps parents in need give to their children at Christmastime.
Santa’s North Pole workshop opens with an open house Monday; and distribution of gifts starting on Tuesday and continuing through Dec. 14.
“We are gearing up for lots of families this year,” said Karen DiCarlo, Santa Claus Inc. president and head elf.
“The need is so great,” she said. “All those people just flat out wouldn’t have a Christmas celebration. It’s important to help make their Christmas a little brighter.”
The nonprofit’s biggest fundraiser, the beautiful Christmas Tree Lane event, is set for Friday with a black-tie optional evening gala and a Saturday afternoon luncheon.
Held annually at the National Orange Show Events Center, this year’s gala, “Christmas Stroll on 5th Avenue,” will feature 15 fabulous designer-decorated Christmas trees, a gourmet dinner, dancing, live and silent auctions, a Macy’s Fashion Show, Cigar and Brandy Bar, and drawing for the trees and gifts.
For more information, call reservation chairwoman Ann Doty at 909-886-2528.

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Eskom’s unreliable electricity supply is hurting production, says VW SA boss
Thomas Schaefer says production at the VW Uitenhage plant had also been hampered by a ‘go slow’ at Transnet
Attempts by German car maker Volkswagen (VW) to increase production at its SA car plant are being undermined by lack of support at local and national level, says local MD Thomas Schaefer.
VW SA’s Uitenhage vehicle assembly plant, near Port Elizabeth, hopes to set a new record in 2019 by building 162,000 Polo and Vivo cars. Of those, exactly two thirds, or 108,000, are for export, and the remaining 54,000 for the domestic market.


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What buying gas in rubles means for Russia and the West
Russian President Vladimir Putin on Wednesday gave the country’s central bank and government one week to come up with a way to switch payments for Russian gas exports to the national currency, the ruble. The prospect raised many eyebrows among Russia’s gas buyers, who started to speculate how exactly this could be done and whether Russia would go through with the measure. Here are some ideas.
- Why the switch to rubles?
The US and its allies have imposed unprecedented sanctions against Russia, targeting the country’s financial system. President Putin explained that illegitimate decisions by a number of Western nations to freeze Russia’s assets destroyed all confidence in their currencies. Russia’s energy exports have not fallen victim to Western restrictions yet, but nearly all gas purchase contracts are denominated in euros or US dollars, which makes them a potential target. But if Russia is paid in rubles, it could evade sanctions.
- Which countries does this affect?
The proposed move affects “unfriendly countries” which imposed economic restrictions against Russia. These include the US, Canada, Australia, Japan, South Korea, and most EU states.
- What will happen if buyers refuse to pay in rubles?
In this case, they won’t be able to buy Russian gas, since any other currency would not be accepted. This would be a blow for Europe, which gets more than 40% of its gas imports from Russia.
- How can ruble payments be handled?
Russia’s central bank can sell rubles to gas buyers or they can buy the currency on the open market. It may also be wise for governments to hold rubles in their central banks, analysts say.
- How will the change impact Russia’s buyers?
Natural gas is used for a variety of purposes, from heating and cooking to providing energy for industrial enterprises. Buying less gas from Russia effectively means paying more for the commodity on the open market. This leads to higher costs for industries and households, rising prices for all consumer goods, and recession.
- What does it mean for the dollar and euro?
The dollar’s dominance as a global reserve currency could be compromised. Its strength comes from being pegged to global trade in oil and other commodities. The euro faces a similar challenge to a lesser degree, but less demand for the currency means a weakened position in the global basket of reserve currencies.
- What does it mean for the ruble?
Increasing the ruble’s role in international trade would strengthen the currency, as it would be backed by Russia’s vast natural resources. With this backing and due to increased demand, it could one day be a major global currency. The ruble switch announcement has propelled the currency to a three-week high.
- What are the wider implications?
In his announcement, Putin hinted that natural gas is just the first Russian commodity to be sold in rubles. “I have decided to implement in the shortest possible time a set of measures to change the payments for – yes let’s start with this – for our natural gas supplied to the so-called unfriendly countries to Russian rubles,” the head of state said earlier this week. His choice of words raises the possibility that other Russian export commodities could follow, including oil, metals, and grain. This would further strengthen the ruble and weaken the dollar and euro.
For more stories on economy & finance visit RT's business section


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After Christie’s offered die-hard James Bond fans and collectors a chance to own the ‘Holy Grail’ of Bond memorabilia with an online auction marking the iconic 50 years of secret service agent with code number 007, now the noted Hollywood auctioneer Profiles in History has come up with what is said to be the most comprehensive collection of Bond movie posters. Consigned to a December 15-16 auction in Los Angeles and estimated to garner a total of $200,000, this outstanding collection comprises of a number of truly scarse ‘holy grails’ of James Bond poster collecting, along with movie stills, lobby cards, film scripts, and other significant memorabilia from each and every film starring the world’s most iconic super-spy.
As stated by auction house Profiles in History’s president, this is truly an once-in-a-lifetime opportunity for collectors and Bond fans to collect Bond movie posters that may never-ever reach the auction blocks again.
Notably, some of the rarest posters being offered in this upcoming auction include a Dr. No special advance silkscreen U.K double crown poster from 1962 (pictured above), which is regarded to be the very first James Bond film poster to ever appear in public and is expected to fetch $5,000, along with 1963 ‘From Russia With Love’ world premiere advance U.K. quad poster, which is possibly the rarest of all theatrical release Bond poster and is expected to fetch $15,000.
Other highlights include the “Goldfinger” U.K. advance double-crown poster style ‘A’ from 1964, and the “Thunderball” U.K. quad poster from year 1965, to name a few.
Speaking about the high-profile Hollywood auctions, James Bond unwashed trunks worn in Casino Royale recently got sold for $71,200, while the Judy Garland's white puff-sleeve blouse and blue gingham pinafore worn in the iconic film `Wizard of Oz' dress is up for sale at Julien's auction, and is expected to fetch a price of around half a million dollar.


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LPA, Choice welcome ACCC’s legal proceedings against Viagogo
Live Performance Australia and Choice welcomed the ACCC’s launch of legal action against Viagogo as the consumer advocacy group readies the publication of its own findings into the secondary ticketing space.
The ACCC on Monday said it initiated proceedings in the Federal Court against the Switzerland-based Viagogo alleging it breached consumer law when reselling ticketing from May 1, 2017 to June 26, 2017.
The competition watchdog claims Viagogo made false or misleading representations and engaged in misleading or deceptive conduct with the price of tickets on its online platform by failing to disclose substantial fees. In this year alone, the ACCC has received 473 contacts about Viagogo from Australian consumers.
“We welcome the ACCC’s announcement yesterday and also the warning from the consumer agency,” Evelyn Richardson, CEO of Live Performance Australia, tells TIO.
“The ACCC sent a very clear message to the resale ticketing platforms that they’ve got to comply with Australian consumer laws and we think that’s really important and we support that.” The trade body recently published its Safe Tix Guide for consumers because, as Richardson notes, “the most people are informed, the more they can make choices which ensure they don’t get ripped off.”
A spokesperson for Choice applauded the ACCC’s big play but says its legal action highlights the need for urgent reform in the ticket resale space.
The ACCC’s move comes after Choice in March referred Viagogo and Ticketmaster Resale following an investigation into the companies ’”dodgy pricing practices” and marketing claims. Its probe found Viagogo, which launched in Australia in late 2013, was the “worst offender,” says a Choice spokesman, with the website found to discretely add booking, handling or VAT fees of up to 25%. These claims are seemingly backed up by the ACCC, which presented a case study where two Cat Stevens (aka Yusuf Islam) tickets were found to increase from $450 to $579.95, a spike of 29%, when the $125 booking and $4.95 handling fees were factored-in.
“If their pricing issues weren’t bad enough,” says a Choice spokesman, Viagogo “markets itself as the ‘official’ site and claims to provide ‘consumer protection’. Both claims are questionable at best and are likely to confuse and disadvantage consumers.”
The consumer rights group launched an international survey of the resale market, where the activity of Viagogo, Stubhub and Ticketmaster Resale and others were scrutinised.
The findings of its study on the Australian, New Zealand and U.K. ticket reseller markets will be unveiled on Wednesday.
Meanwhile, the Ticket Brokers Association (T.B.A) has distanced itself from Viagogo. The newly formed Melbourne –based organization, whose independent members include The Golden Ticket, Epic Tickets and Supatix, has called for the creation of “clear and transparent industry-wide standards” and ethical rules and procedures, with a goal to “protect the public from fraudulent conduct and foster positive consumer relations in the industry.”
LPA will shortly release a ticketing code of practice, which will be extended to have some provisions with respect to the secondary ticketing market. LPA will consult with the ACCC and will likely connect with the T.B.A before releasing it to the public.
This article originally appeared on The Industry Observer, which is now part of The Music Network.


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3Media Networks has appointed Cyril-Alex Gockel, popularly known as C-Real, as the newest addition to its management team, assuming the esteemed role of Brands & Marketing Manager.
C-Real's journey through the world of creativity, marketing, sports and advertising has been nothing short of remarkable. Emerging onto the scene with his unparalleled talent as a rapper and musician, he has steadily climbed the ladder to become a leading voice in Ghana's creative landscape.
Founder and creative director of Pulse Communications, a powerhouse marketing and advertising agency, C-Real brings a wealth of experience garnered from collaborating with a plethora of local and international brands. Not stopping there, he co-founded Ridge City Women FC, as part of a vision to elevate Ghanaian football onto the global stage, with a keen focus on female athletes.
Not merely content with laying the groundwork for his aspirations, C-Real has made his mark as a multi-nominated creative artiste and award-winning writer, recognized among Ghana's elite in Marketing & Brand Consultancy.
His portfolio boasts an impressive array of collaborations with esteemed brands such as UNICEF, Ecobank, GIZ, MTN, Fidelity Bank, among others, showcasing his versatility and impact in the marketing industry. As a partner, C-Real was pivotal in the election of Ghana’s first edition of the global franchise - Social Media Week which saw engagements from global icons such as Google & Meta to mention a few.
Adding to his responsibilities, the self-taught audio & video editor, award-winning poet and multi-nominated songwriter takes on the role of stewarding the 3Media Networks brand. With a mission to nurture and uphold its image, personality and promise, ensuring unwavering resonance with its audience.
With a keen eye for detail and a penchant for innovation, C-Real is poised to spearhead 3Media Networks' narrative across diverse marketing channels. From traditional avenues to cutting-edge digital platforms, he aims to fortify the brand's presence, fostering deep connections and driving consumer engagement.
In C-Real, 3Media Networks has found not just a Brands & Marketing Manager, but a visionary leader who will navigate the intricate balance between creative flair and strategic insight, propelling the brand to new heights of success in the ever-evolving market landscape.
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Prof Nana Ama Browne Klutse has been promoted from an associate professor to full professor, becoming the first female professor in physics produced by the esteemed institution in 75 years.
Guinness Accravaganza returns for its third edition on April 20th 2024.
SuperJazzClub is BACK: Unveiling OFF, a Genre-Bending Masterpiece.
Ghanaian dancehall sensation Stonebwoy has just dropped the official music video for his latest single EKELEBE featuring fellow artiste Odumodublvck, sending waves of excitement through the music industry.
The Ministry of Transport has finally stepped in to address the age-old problem of illegal lorry fares.
Renowned artiste Mr. Drew has just dropped an electrifying official dance video for his latest single, SNEAKY.
Yaw Tog Unleashes Star-Studded Debut Album YOUNG AND MATURED - Set to Rock the Music Scene on April 18, 2024!
Iconic Highlife Legend Nana Acheampong Joins Forces with Fameye for Highly Anticipated Single Set to Drop on April 19!
The Olivier Awards, otherwise known as the Oscars for theatre kids, took over London’s Royal Albert Hall yesterday evening and it was an Australian who won big.
Bayer Leverkusen beat Werder Bremen 5-0 to secure their first-ever German Bundeliga title.
Justin Bieber Surprises Fans at Coachella 2024 by Joining Wizkid and Tems Onstage for ESSENCE Performance
3Music in collaboration with its partners held the successful maiden edition of its Sallahfest inside Alajo T junction on the 12th of April 2024.


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The new 2010 S60 is expected to go on sale early next year. This computer generated rendering provides a clue as to what the new car may look like, revealing that it will likely share most of the lines of the 2009 Volvo S60 concept car.
At first glance, the rendered sedan features definite coupe-like proportions, accompanied by strong shoulders, which together give it a look that is very similar to the design of the recent Jaguar C-XF concept vehicle. There are, however, plenty of unique elements such as the traditional Volvo grille and sculptured headlamps with LED bulbs.
Not much is known about the car’s future powertrain but one option will be a new 1.6-liter gasoline unit with turbocharging and direct-injection technologies. Previewed in concept form, the tiny mill develops a peak output of 180hp and a fuel economy rating of 47mpg. Drive will be sent to the front wheels via Volvo's PowerShift six-speed dual-clutch transmission.


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NEW YORK- General Motors Co. has big ambitions for its 2015 Cadillac Escalade.
The Detroit-based automaker unveiled the new luxury sport utility vehicle Monday night in New York City with hopes of growing sales and continuing to evolve the Cadillac brand overall, according to Cadillac senior vice president Bob Ferguson.
“Cadillac’s growing and we have a plan to sustain that momentum into 2014 and way beyond – here in the U.S. and throughout the world,” he said during the vehicle’s unveiling at the Altman Building in New York City. “Escalade’s role in the grand plan is to recapture prominence in the segment that Escalade created.”
Cadillac is one of two “global brands” for the Detroit-based automaker. Ferguson said while the new Escalade will primarily be sold in the U.S., there is opportunity for growth in markets like the Middle East and China.
The 2015 Escalade, according to officials, is centered on elegance, craftsmanship and new technologies. It features an all-new larger interior with more “customer-friendly” access and a more aggressive exterior styling.
“We spared nothing,” said Cadillac lead executive chief engineer Dave Leone. “We put everything we had for technology into this vehicle.”Part of that new technology, according to Leone, is the vehicle’s EcoTec 6.2-liter V8 engine that is more powerful and more efficient than previous models. It’s rated at an SAE-certified 420 horsepower (313 kW) and 460 lb-ft of torque (623 Nm) – a nearly 5-percent increase in horsepower and 10 percent more torque. It also features state-of-the-art technologies, including direct injection, Active Fuel Management, or cylinder deactivation, continuously variable valve timing and an advanced combustion system.
GM did not release the expected fuel economy of the new vehicle, but Leone said the company expects “to add a couple miles per gallon for both city and highway.” Its current rating, according to the EPA, is up to 16 combined mpg.
Bob Boniface, design director of Cadillac exteriors, said the vehicle’s body is also more aerodynamic and fuel efficient without sacrificing the brand’s performance or styling.
“We left no stone unturned,” he told MLive. “Every piece of the car is high-quality, high craftsmanship … It’s a vehicle that makes a statement.”
Arguably one of the most intriguing features of the vehicle’s exterior —besides its iconic grille – is the headlights incorporate the industry’s first Total Internal Reflection LED high-beam function, which consists of four vertically stacked crystal lenses and LEDs. The low beam consists of five crystal lenses and LEDs that create the light pattern.
Inside the vehicle is where customers should really notice a transformation. Besides more space and fold-down seats, the vehicle includes the Cadillac CUE system and numerous other refinements, including three wood trim options. It’s leaps and bounds ahead of the current model, according to officials.
“Escalade puts an exclamation point at the end of the brand,” Ferguson said. “This raises the entire portfolio and I think this is one of the best interiors we’ve done our recent product launches.”
Eric Clough, director of design of Cadillac interiors, said the goal for the interior designers was to evolve the vehicle to match Cadillac’s new product portfolio, but more so for truck buyers. He said numerous Escalade customers said they want the interior to feel like a luxurious truck.
GM did not release pricing for the 2015 Escalade, which is scheduled to arrive in dealerships this spring. Ferguson said he does expect it to be higher than the current model, which starts at about $64,000. He called the Escalade “very profitable for the Cadillac brand,” and even hinted that GM continues to look at expanding the name plate.
“I think the Escalade brand is so strong, why would we limit it to one vehicle?” he told reporters following the unveiling. “We haven’t made any decisions, but I think there’s a lot of equity in Escalade and I’d like to explore the notion of other vehicles that would carry that brand name.”
According to Kelley Blue Book, the average price paid for an Escalade last month was $73,596 and $77,388 for the larger Escalade ESV.
The 2015 also includes a host of safety and infotainment features, including a standard 12.3-inch digital gauge cluster can be reconfigured with four themes and an available head-up display.
Through September, GM sold more than 16,500 Escalades, including 8,953 Escalades; 5,916 Escalade ESVs; and 1,674 Escalade EXTs. The Cadillac brand's overall sales through September are up nearly 30 percent.
Ferguson said he would be “disappointed” if Escalade sales didn’t increase by at least 10 percent next year.
Karl Brauer, Kelley Blue Book senior analyst, said the Escalade signals Cadillac’s continuing production evolution, which really started with the first-generation of the large SUV.
“It’s following in their standard footsteps of what their introducing,” he said. “They’ve got a distinctive design language.”
Brauer added that this was a good time for GM to release the luxury SUV, but he’s not sure if it can regain its prominence in the celebrity and sports worlds as it did in its heyday.
"There's not a lot of volume (in the premium SUV segment), but it’s OK because they make so much profit off," he said.
One well-known billionaire and celebrity that seemed quite interested in the new vehicle was Donald Trump, who attended the unveiling with his wife, Melania Trump. He interrupted a media scrum to tell Ferguson the vehicle looked “great.”
GM also unveiled the 2015 Escalade with the help of indie rock photographer and director Autumn de Wilde.
De Wilde, who attend the unveiling, produced a series of portraits and a film highlighting the Escalade design process that that debuted before the vehicle's unveiling.
De Wilde said working with Cadillac for the project was a really unique experience. She decided to focus on the people making the SUV more than the actual vehicle to remind people that there’s a human-side of manufacturing vehicles.
“It was amazing to be invited to do this,” she told MLive. “I was so fascinated by the men and women that work there.”


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Springsteen Manuscript Has Been Sold
That Springsteen manuscript we told you about earlier today–it’s been sold at auction today. The selling price? $197,000. That seems kind of low, actually, though certain of us around the office would disagree. So who bought it?
It was a telephone auction, and Sotheby’s ain’t saying who nabbed the precious piece of paper. Enough kidding around, I think we all know who bought it.
Here’s the most valuable piece of lined paper in the world. (Until somebody emails me to tell me that it isn’t.)


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Amid Wall Street's gyrations before and after this past month's Federal Reserve meeting, it has been easy to lose sight of two enduring truths:
The stock market is not the economy.
And the Fed doesn't control either of them.
That said, fundamental changes in the economy during the past 20 years appear to have altered the intricate relationships among the economy, the stock market and the Fed.
More than ever, the stock and bond markets are calling the tune for what's often called the "real economy," influencing not only consumer sentiment but also the cost and availability of investment capital for businesses.
At the same time, the Fed is finding itself increasingly hemmed in by the markets and caught off guard by the sudden turns in the economy.
All of these crosscurrents were on display this past month as the Fed moved to keep the economy from falling into recession by lowering interest rates, only to find itself triggering another broad sell-off on Wall Street.
Consider how the stock market now affects the economy. The most direct influence goes under the banner of "the wealth effect." When stock prices rise, consumers tend to go out and spend a portion of their increased wealth. Conversely, when stock prices fall, consumers cut back on spending and increase their savings.
Back when stocks were held mostly by a relative handful of very rich people, these wealth effects were rather muted: For every $100 increase or decrease in the value of the stock market, consumer spending increased or decreased by $1 to $3 during the next two years. During the past 20 years, however, as the stock market has been greatly expanded and democratized, some economists have concluded that the wealth effect has increased.
According to the Fed, 49 percent of households now hold stocks directly or through mutual funds, up from 10 percent in the 1960s. The value of those holdings also has increased. By last year, a U.S. household on average held stock worth three times the household's annual after-tax income. That's double the ratio of only five years before.
Also strengthening the link between consumer spending and the stock market is the rising popularity of pension plans such as the 401(k), which now enable an estimated 37 percent of workers to manage their own retirement investments. And don't forget stock options, now part of the pay package for more than 10 percent of American workers.
The impact of all this was hard to miss during the late 1990s, when the rapid rise in stock prices created $14 trillion in paper wealth between 1990 and the peak of the market last March, according to Wilshire Associates Inc. Goldman Sachs Group Inc. estimates that this gain was responsible for adding at least 1 percentage point to the economy's annual growth from 1995 to 2000, with all the jobs, wages and profits that go along with it.
Since March, 2000 however, falling stock prices have vaporized more than $4.5 trillion of that paper wealth, which should cut 1 percentage point off the economy's growth rate this year and next.
The stock market boom also affected the economy by way of corporate spending. From 1990 through 2000, a record $342 billion was raised by companies by issuing new stock, acccording to Thomson Financial Securities Data -- money that was spent on hiring new employees, leasing office space and buying new high-tech equipment.
That spending contributed significantly to the economic boom of the late 1990s. But now that the stock market has plunged, the flow of these stock offerings is down by 80 percent from a year ago. Although the impact of this change on economic growth is, as yet, unmeasured, it is certainly significant.
Meanwhile, the increasing economic importance of Wall Street poses a challenge to the Fed.
In press accounts and analysts' comments, it is often implied that the Fed can control the economy the way a homeowner adjusts a thermostat. The notion is that the Fed controls interest rates, and rates determine how much consumers spend and businesses invest. In reality, however, the Fed's power is more modest and indirect.
First, although changes in interest rates do affect some consumer purchases, they are hardly the only factor. Many home builders and carmakers, for example, offer financing and incentive packages that insulate consumers from swings in interest rates. And as Fed Chairman Alan Greenspan has acknowledged, if consumers come to fear that they might lose their jobs or see the value of their pension funds cut in half, lower interest rates won't help much.
As for businesses, investment decisions have traditionally been driven more by the flow of current profits than by the level of interest rates. On top of that, the Fed acknowledges that investment in new plants and equipment will probably remain anemic until the economy works off the excess capacity built up during the long expansion.
While the Fed can control overnight interest rates, it has no direct control over the rates on most loans of a year or more -- those are set on Wall Street's giant bond market by investors all over the world. The Fed, by dint of the respect it commands, influences these longer-term rates. If there is too big a difference between short- and long-term rates, borrowers can simply adjust the term of their borrowing to take advantage of whichever is lower.
In the end, the Fed and the bond market are in an ongoing arm-wrestling match, with one or the other in the dominant position at various times. A similar relationship exists between the Fed and the stock market.
In general, stock prices reflect investors' expectations about corporate profits and prospects for the economy. As a result, stock prices often rise at the first hint that the Fed might be about to lower rates, reflecting the hope that rate cuts will stimulate the economy and boost future profits.
But this influence can also put the Fed in a bind.
So how much does it matter to the economy that the Fed is lowering short-term interest rates?
Certainly less than you'd think from all the attention it's gotten. And probably less than it would have in years past.


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For the first time ever, the number of mobile Internet users has decreased. The number of people using the Internet from mobile phones had been increasing recently, thanks to many packages introduced by the Telecom companies to surf the Internet in a more economical and better way. The number of people had been increasing by three lakhs per month in the past fiscal year, according to Nepal Telecom Authority (NTA). The data for this month shows a different scenario though, as the number of mobile Internet users has dropped down.
According to the data published on Bhadra, 61.58% of the total population of the country i.e. 1 crore 63 lakhs 16 thousand people surf the Internet. Among them, 1 crore 56 lakhs and 35 thousand people surf the Internet through mobile phones.
However, the number of people using Internet services through mobile phones was 1 crore 57 lakhs and 48 thousand in the month of Shrawan, which is 61.99% of the total population.
The decrement of mobile Internet users is seen only for Ncell, as its users count has dropped from 74 lakhs 7 thousand users in Shrawan to 71 lakhs and 83 thousand in Bhadra.
In the meantime, the total users of Nepal Telecom and Smart Telecom has risen up, with an increase of about one lakh mobile Internet users for each network. Since the decrease in mobile Internet users of Ncell has been somewhat negated by the increase in users of Nepal Telecom and Smart Telecom, there has been an overall decrease of about 1 lakh mobile Internet users in total. Furthermore, the number of users surfing the wireless Internet provided by the ISPs has also decreased by about 1500.
As for the reasons for the decrease in the number of users, Ncell states that its because of the end of its ‘Internet for all‘ package in Shrawan. NTA spokesperson Mr. Minprasad Aryal, however, said that the decrease may also be because of NTA’s recent rule to dispose of the SIM cards that remain unused for six months.
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Shaw-owned carrier Freedom Mobile has experienced a security flaw, leaking sensitive data related to the carrier’s customers. However, it remains unclear exactly how many subscribers are affected by the breach.
Freedom Mobile claims that the security breach resulted in the data of 15,000 customers being exposed.
“Our investigation has revealed that a very limited amount of Freedom Mobile customer data was exposed as the result of a misconfigured server managed by Apptium, a new third-party service provider Freedom Mobile has engaged to streamline our retail customer support processes,” reads a statement from Freedom regarding the data breach.
On the other hand, the security researchers that first uncovered the flaw, Noam Rotem and Ran Locar, claim the number could be much higher.
The breach is related to what is known as an Elasticsearch sever that leaked five million logs containing Freedom Mobile customer data, according to the security researchers. This data was not protected with a password, giving anyone access to the information, according to the security researcher’s findings.
Rotem and Locar claim this security flaw is similar to when China-based e-commerce giant Gearbest inadvertently exposed the data of millions of customer orders.
The security researchers first published their findings through virtual private network provider vpnMentor. The report states that it took Freedom Mobile roughly a week to fix the security flaw following being notified of its existence.
Further, the report states that customer email addresses, phone numbers, postal codes, date of birth, customer type, account numbers and even full names, leaked. Equifax credit check customer information is also included in the leak, along with complete credit card numbers, including verification numbers and expiry dates, all stored in plaintext and unencrypted.
Freedom Mobile has more than 1.5 million customers across Canada, according to Shaw’s recent Q2 2019 earnings report.
Freedom Mobile isn’t the only Canadian telecom giant to suffer from a major security breach. Back in January of 2018 Bell confirmed that “fewer than 100,000” customers had their private information illegally accessed by hackers.
MobileSyrup has reached out to the Office of the Privacy Commissioner of Canada for comment regarding the breach. We have also contacted the security researchers that uncovered the leak for more information regarding the discrepancy between the number of affected subscribers.
This story will be updated with additional information as it is received.
Freedom Mobile’s full statement regarding the security breach can be read below:
“We can confirm that two cybersecurity researchers contacted the Freedom Mobile Privacy Office on April 18 to advise they had located a security gap that affected a very small percentage of all Freedom Mobile customers, whose data is processed by a new external third-party vendor, Apptium Technologies.
We’ve assessed that data from approximately 15,0000 Freedom Mobile customers was affected.
We have no evidence to date that any data exposed has been misused in any way and we are conducting a full forensic investigation to determine the full scope of impact. Once the legitimacy of the researchers’ emails was verified, the third party vendor rectified the situation identified by the cybersecurity researchers and we began an investigation immediately.
Our investigation is ongoing. All affected customers will be contacted, and we will provide them with a solution that best suits their needs.
We have discovered that the data that was exposed was contained to a very small number of customers who had opened or made any changes to their accounts at 17 Freedom Mobile retail locations from March 25 to April 15, and any customers who made changes or opened accounts on April 16. The data exposure was discovered and rectified on April 23.
Our investigation has revealed that a very limited amount of Freedom Mobile customer data was exposed as the result of a misconfigured server managed by Apptium, a new third-party service provider Freedom Mobile has engaged to streamline our retail customer support processes.
The internal systems of Freedom Mobile or Shaw Communications were not compromised as part of this third party vendor security exposure.
Freedom Mobile has filed a notification to the Office of the Privacy Commissioner of Canada (OPC) and we are continuing our investigation into the matter.”
Update 08/05/2019: When contacted regarding the discrepancy in the number of customers affected by the breach, vpnMentor sent the following statement.
The Office of the Privacy Commissioner sent the following statement regarding the Freedom Mobile security breach.
“We can confirm that we received a breach report related to Freedom Mobile late yesterday afternoon and will be examining the report in order to determine next steps. Canada’s federal private sector privacy law, the Personal Information Protection and Electronic Documents Act (PIPEDA), includes confidentiality provisions and we don’t have further details to offer at that time.”
Update 07/05/2019: The story has been updated with more information regarding Freedom Mobile’s claim that only 15,000 subscribers were affected by the security breach.
Image credit: vpnMentor


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'Gambling products dressed up as financial instruments': Watchdog bans high risk binary option trading for everyday investors
The selling, marketing and distributing of binary options to everyday investors will be prohibited come 2 April amid a regulatory crackdown of high risk investments.
Binary options have been labelled the 'biggest investment con in Britain' by consumer group Which? for offering higher returns for lower probability events and lower returns for higher probability events - so you'd need to 'beat the odds' on a regular basis to make a profit.
This factor, along with the short duration of trades, can cause addictive behaviour typically associated with gambling, according to the regulator.
The new rules tackle widespread concerns about the inherent risks of these products, and the poor conduct of the firms selling them
Investors of binary options are often lured by flashy marketing campaigns through social media from providers promising bumper rates of return.
However, the reality is that people typically lose money on them, and the quick-fire nature of these trades leads to uninformed decision making.
European authorities introduced a similar ban last summer, but the FCA has gone one step further to apply a ban to so-called 'securitised binary options' - even though the products are not currently offered in the UK.
The regulator estimates the permanent ban on binary options could save retail consumers up to £17million a year and may reduce the risk of fraud by unauthorised firms claiming to offer these products.
Christopher Woolard, executive director of strategy and competition at the FCA, said: 'Binary options are gambling products dressed up as financial instruments.
'By confirming our ban today we are ensuring that investors don't lose money from an inherently flawed product.'
Binary options one of a handful of high-risk investments in the FCA's firing line.
The watchdog is also planning to restrict the sale, marketing and distribution of CFDs and similar products to retail customers.
A CFD is a form of derivative trading that allows you to speculate on the rising or falling prices of fast-moving global financial markets, such as forex, indices, commodities, shares and treasuries.
It carries a higher level of risk compared to conventional shares and bonds investments.
The FCA's watchdog's proposed interventions mirror an existing EU-wide temporary restrictions that limits the amount CFD traders can leverage on their positions. If confirmed the FCA's rule changes would have permanent effect.
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Besieged Unilever chief Alan Jope serves tea for the predators
Boss of consumer goods giant is being forced into selling off divisions
Unilever’s soap factory on Liverpool Road in Warrington has been in operation for 136 years.
Brands such as Persil and Surf, staples in millions of households, are produced in the Cheshire town and distributed to supermarkets across Britain.
However, capacity has dropped sharply in recent years as consumers have ditched washing powder in favour of gels and tablets.
Last month came the inevitable: Unilever said it would review the plant’s future, putting more than 120 jobs at risk.
The factory will not go down without a fight, however. “Unilever often talks about its positive contribution to communities and it is impossible to ignore the history and importance of manufacturing in Warrington,” said Eamon O’Hearn from the GMB union, which represents Unilever workers and is urging


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Nationwide has announced that they are assessing the damage from the recent severe weather that impacted the eastern part of the United States.
If you are a Nationwide customer, here are a few quick links and phone numbers to assist you:
- If possible, Nationwide personal lines and commercial lines customers should start their claim online at https://www.nationwide.com/insurance-claims/
- If web or mobile access is not available, customers should report their claims directly to Nationwide’s Claims Center by calling 1-800-421-3535.
If you have questions or need assistance, please give us a call at 877-376-8676 or email us at [email protected]


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Digital transformation enhanced to build a modern logistics industry
The Ministry of Industry and Trade held a workshop on April 27 to highlight the role of digital transformation in building a modern and sustainable logistics industry and announce the Vietnam Import and Export Report 2022.
Speaking at the workshop, Director of the Import-Export Department Phan Van Chinh said the National Digital Transformation Programme to 2025, with orientation to 2030, has been approved by the Prime Minister, with logistics noted among the 8 industries that should be prioritised for digital transformation.
Among the tasks to improve competitiveness and develop logistics services in Vietnam by 2025 according to the Prime Minister's Decision No.221/QD-TTg, dated February 22, 2021, are technological research, application and transfer, and promoting digital transformation in logistics services.
As one of the key industries, likened to the "lifeblood" of the national economy, logistics needs to be invested strongly, especially in the aspect of "digitisation" to be able to respond and adapt to the market context, as well as help promote the development of other industries.
Recently, under the pressure of the COVID-19 epidemic and the explosion of the digital economy and e-commerce, logistics businesses have been partly aware of the acceleration of digital transformation and the application of new technologies into business activities to enhance economic efficiency, as well as optimise in production and supply chains.
At the workshop, representatives of state management agencies, associations, industry associations and businesses, together with experts and research institutes, spent a lot of time exchanging, reviewing, evaluating, and commenting on the current situation of digital transformation in the logistics industry in Vietnam.


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Police were called Monday morning to Bloomington Skin Care and Acne Clinic after the store’s entire inventory was stolen in the night.
The owner of the business next door noticed a window was broken in during the night and contacted the owner of the store, said Bloomington Police Department Detective Sgt. Dana Cole.
The only employee with keys to the store told the police she had locked up before she had left.
The store's entire inventory, including an estimated $10,000 worth of high end skin-care products, was stolen, Cole said. The products stolen were from high-end brands such as Circadia, Control Corrective and Tizo. A 3.5 ounce Tizo sunscreen is valued in the $40 price range on Amazon, with other products similarly priced.
Cole said there was no other physical evidence other than the broken window. The investigation is inactive.
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The Environmental Protection Agency’s new requirement on the labeling of hearing protection devices may be unclear.
By Kyle W. Morrison, senior associate editor, Safety & Health Plus
For the first time in more than 30 years, the Environmental Protection Agency is set to update its regulations concerning hearing protection devices.
Under the Noise Control Act of 1972, EPA regulates the labeling of all hearing protection products sold on the basis of their effectiveness in reducing unwanted noise. Originally published in 1979, the agency’s noise labeling standards for hearing protection devices (40 CFR Part 211) govern the testing methodologies for determining noise reduction ratings – how much any given device can reduce the transmission of sound from entering the ear canal – and how to label the devices.
A proposed rule published in August 2009 includes three separate labels covering the different types of hearing protectors and a range of NRRs instead of a single number. The new standards also will allow for devices incorporating technology developed over the past three decades, such as electronic noise cancellation, to be sold as hearing protection devices.
To determine the efficiency of any earplug your employees wear, use one of the hearing protection fit testing units on the market, such as INTEGRAfit.
See entire article here.


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Speculations and rumors were correct, No Man’s Sky has been pushed back until August. Sean Murray, who is Hello Games founder confirmed the delay in a PlayStation blog post. Apparently the game was not up to par with what he truly wanted and needed some time to tweak a few things before release. Delaying the game was a hard decision for him, but in the end it had to be done.
No Man’s Sky was scheduled for release on June 21st and the 22nd, but now this space game has reportedly been delayed. Two sources reported the delay to Kotaku stating that the game could possibly be released as early as July or August. One of the sources was apparently a GameStop employee.
“A second source, who works at GameStop, said they received marketing materials today for No Man’s Sky with the original June 21 release date. However, stores were informed that the release date is no longer correct and that they should cover it up with a ‘Coming Soon’ label.”
There has been no comment from Sony or Hello games, hopefully more details will be released soon and there won’t be any further delays. No Man’s Sky will be available for PlayStation 4 and PC.
What are your thoughts on the abrupt delay? Has anyone preordered the game? Seems like a very interesting game to say the least.


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Many have a hard time fully letting go while on vacation
Going on holiday is the perfect time to switch off from work and tech. However, a new survey from TravelSim has shown that the UK spends more than half an hour each day using tech for work while on vacation and over a third of people say they get anxious if they don’t have access to the internet on holiday. So just how hard do we find it to switch off and how tech-reliant are we while on holiday? You can see the full findings here.
- People in HR spend 30 percent of their total holiday tech time working
- 40 percent of people in HR say they are in regular contact with work colleagues while on holiday
- 73 percent of people working in the financial sector saying they a digital detox
- 35 percent of people working in sales, media and marketing say they feel less stressed about work if they have access to tech that allows them to keep on top of work while on holiday
The industries that struggle to switch off
When it comes to leaving work behind, those working in HR find it hardest. These busy bees spend 30 percent of their total holiday tech time working. They are also the most likely to be in touch with co-workers with 40 percent of people in HR saying they are in regular contact with work colleagues while on holiday.
The industry most in need of a digital detox is finance, with a whopping 73 percent of people working in the financial sector saying they need one.
The idea of taking work on holiday to ease stress might seem strange but people working in sales, media and marketing seem to do just that, with 35 percent saying they feel less stressed about work if they have access to tech that allows them to keep on top of work while on holiday.
What are we up to online when we’re not working?
UK holidaymakers spend a whopping average of four and a half hours using tech each day and just 44 minutes of this time is spent on direct messaging apps, despite the fact that the number one reason people gave for taking tech on holiday was to keep in touch with family and friends.
When it comes to social media and direct messaging, women dedicate more of their holiday time to these than men. Women spend 42 minutes more, each day, on social media and direct messaging apps than men and over the course of a week’s vacation this racks up to almost 5 hours more!


text: Today’s Supreme drop includes some of the most anticipated items of the season. The studded Acro leather jacket and the Vans Skull Pile sneakers are among them. The jacket was the first ever Supreme SS18 teaser that was posted on Instagram earlier this month. The Vans collab features a glow-in-the-dark Liquid Blue Skulls Pile pattern in both the Sk8 Hi-Pro and Slip-on styles. The leather jacket is $698 and the shoes are $110 and $98. If you want to purchase these coveted items, you can either go to their select locations across the globe OR on their online webstore at 11:00am.


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Consumers express their brand loyalty in lots of different ways.
Maybe they cruise through the drive-thru multiple times a week. Maybe they hand over their data and sign up for the loyalty program. Maybe they follow their favorite restaurant chain on Twitter and Facebook and TikTok.
Or, MAYBE THEY GET THAT RESTAURANT’S LOGO FOREVER BRANDED INTO THEIR FLESH.
Coupon site DealA surveyed social media data, specifically Instagram hashtags, to come up with the brands, across all industries, that are the most tattooed on adoring fans.
By a giant order of magnitude, Disney topped the list. I mean, that’s understandable when your brand is literally cartoon characters.
Coca-Cola came out as the most popular food-and-drink tattoo.
The most-popular restaurant chain tattoo, though?
That honor goes to McDonald’s, the world’s largest chain.
Starbucks, known for its highly loyal fan base that counts down to Pumpkin Spice Latte season each summer, was the only other restaurant brand to even merit a mention on the most-tattooed list.
Correlation does not equal causation, of course, but both chains have thriving loyalty programs right now.
Shake Shack rides the Bitcoin wave
Better-burger brand Shake Shack is testing a new promo that awards customers in Bitcoin.
Diners who pay via Cash App debit card, the mobile payment service owned by Block (formerly known as Square), can get 15% back in Bitcoin.
“We’re always working on innovative ways to help our fans get their ShakeShack, however and whenever they want it,” CMO Jay Livingston said in a statement. “Our Bitcoin rewards test on Cash App is an exciting way for us to learn about our guests and how they want to use cryptocurrency. As we think about the long-term roadmap for ShakeShack, we see opportunities to continue growing and developing these types of digital offerings to provide guests with a frictionless, more personalized experience.”
A number of chains have waded into cryptocurrency in recent months. Sports Bar chain Wings & Rings said earlier this year it would start accepting Bitcoin as payment from franchisees.
Late last year, Burger King handed out cryptocurrency to customers in its loyalty program, most of it worth very little, but Whopper-eaters received the equivalent of tens of thousands of dollars.
St. Patrick’s Day roars back
I don’t know that I’ll ever forget St. Patrick’s Day 2020 in Chicago, seeing the lines of folks outside Irish bars and restaurants just as the governor was ordering the entire state to quarantine because of this very new virus called COVID-19.
Last year’s St. Patrick’s Day was more muted, with vaccines yet to be widespread.
This year, though? Restaurants have suffered through delta and through omicron; rates of COVID in many cities are hovering around 1%; mask and vaccine mandates have largely disappeared; and both customers and operators are ready to celebrate.
The St. Patrick’s Day promos are flooding in, from boneless wing deals from Hooters to LTOs like the green Mint Matcha Frappe at Peet’s Coffee to the Lucky Charms ice cream at Cold Stone Creamery.


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Pre-book sales record breaking handset Huawei nova 2i lands on customers, hands today
Huawei Consumer Business Group has arranged a festive ceremony for nova 2i smartphone handover at capital’s Bashundhara City Shopping Mall to the customers who ‘pre-booked’ it. The Huawei nova 2i packs a combination of power and performance with dual lens cameras in the front and back.
Huawei started the ‘Pre-booking’, following the inauguration of the handset in Bangladesh on October, 26, 2017.
The ‘Pre-booking’ lasted only seven days which is a record. Mr. Aaron, Country Director, Device business Department, Huawei Technologies (Bangladesh) Limited was present at the device handover ceremony as the chief guest.
Amidst of an overflowing crowd, customers received their desired nova 2i. There was a prolonged queue at Bashundhara City Shopping Mall for this handset.
nova 2i is the first device that boasts the HUAWEI FullView Display. The phone’s high quality 5.9 inch screen with 18:9 aspect ratio will give a widescreen experience.
The smartphone is specially designed to capture the beautiful moments in the digital lives of modern customers. The stunning display also provides a tremendous experience of social media connectivity.
Ziauddin Chowdhury, Deputy Country Director, Device Business Department, Huawei Technologies (Bangladesh) Limited said, “Our youths crave for new technological experiences. In an attempt to serve these needs, we have added a wide display along with 4 cameras in the nova 2i.
As it is such a sublime combination of powerful hardware and better software, we predicted the positive response in the market. We have been flooded with love from our customers again and it is a great achievement for us.”
The phone has 8-core kirin, 659 chipset, 4 GB Ram and 64 GB ROM with 3340 mAH battery to accommodate heavy usage. The brand new nova 2i will cost BDT 26,990 only.
Interested customers can now buy this brand new smartphone from the Huawei brand shops across 64 districts of Bangladesh.


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See ya later, paper menus! Change has been constant during the pandemic, and as we’ve rolled along, we’ve noticed some forever-changes that might have been for the better.
Chief Economist Bart Watson dives into our recently published human resources and salary benchmarking data.Read More
Start getting paid for your brewery sustainability projects by finding the right federal, state, or local incentive programs.Read More
IPA continues to be the most important style for many brewers, but as category growth slows, understanding what is going on with sales in its subcategories is becoming more important.Read More
Bart Watson looks into how 12-packs have performed since the start of the COVID-19 pandemic to provide retail insights for craft brewers.Read More
Chief Economist Bart Watson presents the results of the BA's midyear survey, plus other trends and economic data from the first half of 2021.Read More
The BA has once again commissioned the annual Craft Beer Insights Panel survey to take the pulse of adults who enjoy drinking craft beer.Read More
Although craft appears to be dropping in scan data, it might be good news for many breweries if it means people are finally going out again.Read More
For the May/June 2021 The New Brewer, we present our annual Industry Review issue. The year 2020 was undoubtedly craft's toughest so far, with overall volume down 9%. We take a look back at how each segment fared during a tumultuous year, with taprooms leading the way at nearly flat growth and brewpubs taking the biggest hit, down 19.3%.Read More
This issue is brought to you by Atlas Copco
As bad as circumstances were for 2020, there are reasons for optimism. Many craft breweries took a direct hit with double-digit declines, but found a way to survive.


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CHERRY HILL, N.J. (CBS) — Several arrests were made after police say nearly 1,000 unaccompanied juveniles were at the Cherry Hill Mall on Tuesday night.
Cherry Hill police say officers responded to the mall around 7:30 p.m. for a report of a large group of juveniles acting disorderly near the J.C. Penney wing.READ MORE: Inflation Slowed In July, Showing Fed's Rate Hikes Are Working
Police say they found 700 to 1,000 unaccompanied juveniles at the mall at the time.
Police say while they were dispersing the crowd, five juveniles, four from Camden and one from Cherry Hill, were arrested for charges ranging from disorderly conduct to resisting arrest.READ MORE: Some Philadelphia Wawas Will No Longer Be Open 24 Hours
No injuries or property damage were reported.
Last week, Cherry Hill Police Chief William Monaghan warned parents about the potential for problems involving teens.
“There’s not a lot for them to do during the winter time. Parents seem to allow them to go to a mall or shopping center unsupervised,” Monaghan said.MORE NEWS: Sesame Place Announces Changes To Diversity Programs After Recent High-Profile Racial Incidents
A spokeswoman for the mall released the following statement to Eyewitness News, saying, “The safety and security of our shoppers, retailers, and employees are always top priority. The day after Christmas is one of the busiest days of the year at the mall. We partnered with CHPD to help ensure a safe shopping environment. We thank the police and our security partners for their assistance and commitment to ensuring the comfort and safety of the shopping center.”


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Pharmacies Square Off on Daraprim Supplies
As Turing Pharmaceuticals Chief Executive Officer Martin Shkreli contends with charges of securities fraud, major U.S. pharmacies are moving to assure patients of continued access to the company's key drug, Daraprim.
Shkreli was arrested on Thursday for engaging in what U.S. prosecutors said was a Ponzi-like scheme at his former hedge fund and a pharmaceutical company he previously headed. Turing officials did not respond to multiple requests for comment on the company's future plans regarding Shkreli or its drug distribution.
Leading pharmacy chain Walgreens Boots Alliance, currently the exclusive U.S. supplier of Daraprim, said it has inventory of the drug, which has a list price of $750 per dose. But growing public backlash against that price has resulted in the entry of new competitors - compounding pharmacies able to produce similar versions for a fraction of the cost.
CVS Health, the No. 2 U.S. drug benefit manager, told Reuters on Thursday it can provide an alternative to Daraprim that is compounded by Avella Specialty Pharmacy, at a price of $30 per 30 pills. The 62-year-old treatment is used to fight parasitic infections in AIDS patients, pregnant women and others.
The CVS arrangement is similar to one between Imprimis Pharmaceuticals, a compounding pharmacy based in San Diego, and Express Scripts Holdings, the largest U.S. manager of prescription drug plans, to offer lower-cost pyrimethamine, the generic version of Daraprim.
Compounding pharmacies operate differently from drug manufacturers whose treatments must be approved by the U.S. Food and Drug Administration for mass sale. Instead, such pharmacies can prepare medications only for individual patients once they have a prescription, and must comply with state and federal regulations.
Meanwhile, several major medical groups have started to urge doctors to seek out such lower-cost alternatives to Daraprim, providing detailed instructions on how to do so. Walgreens said in an emailed statement that it has "urged Turing to expand the number of specialty pharmacies to promote greater access, and it is our understanding that they will be doing so in the near future." Turing officials could not be reached for comment.
Turing, founded by Shkreli early this year, has made front-page headlines since it bought the rights to Daraprim in August for $55 million from Impax Laboratories. With no rival manufacturers making the drug, Turing quickly raised the price for a tablet of Daraprim to $750 from $13.50.
The move sparked widespread criticism - first by medical groups such as the Infectious Diseases Society of America and the HIV Medicine Association, followed by presidential candidates Hillary Clinton, Bernie Sanders, and Donald Trump.
Overnight, the tiny company was vilified as an example of pharmaceutical industry greed, an accusation also leveled at much bigger players like Gilead Sciences and Valeant Pharmaceuticals International.
Turing said last month that it would not change the list price of Daraprim, but would offer the drug to hospitals at a discount of up to 50 percent.
"We don't have any reason to believe that the allegations of an investment Ponzi scheme by Turing's CEO will encumber production of Daraprim," a spokesman for Kaiser Foundation Health Plan said in an emailed statement. "However, we are still waiting to see proof of Mr. Shkreli's promise to reduce the price of this needed generic drug." Shkreli, who began his career working for various hedge funds, in 2008 formed a partnership to launch MSMB Capital Management, which became known for filing requests to the Food and Drug Administration to reject products developed by Navidea Biopharmaceuticals and MannKind. MSMB profited by selling short the stock of both companies.
Retrophin, initially a portfolio company operated from the MSMB offices, was created in 2011 with an emphasis on biotechnology. Shkreli was president and CEO at Retrophin, which says it focuses on treatments for serious, catastrophic, or rare diseases, until October 2014, when he was fired by the company's board.
Retrophin's board earlier this year accused Shkreli in a lawsuit of using $65 million in company funds to repay MSMB investors who had lost money. Shkreli also sits on Turing’s board along with Chairman Ron Tilles, who formerly worked at Retrophin, and one other member, Walter C. Blum, according to the company's website.
Imprimis CEO Mark Baum said that even if Turing's other investors decided to remove Shkreli, that alone would not be enough to change the fortunes of Daraprim. While at Retrophin, Shkreli hiked the price of its key drug, Thiola for kidney stones, to $30 a pill from $1.50. That price has not changed since Shkreli left.
"Once Turing went and paid what it did to buy that drug, they were locked into raising the price," Baum said.
(Additional reporting by Caroline Humer; Edited by Michele Gershberg and Bernard Orr)


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Edrington, Scotland’s premier producer and distributor of global spirits brands, announced “a significant expansion” of its international distribution network. It will be taking control of operations that span three continents as its other agreements expire. During the coming year Edrington will establish new sales, marketing and distribution companies in the USA, South East Asia and the Middle East. Collectively these markets currently account for 26% of Edrington’s total sales. Edrington USA will assume the distribution of Edrington brands in the USA, the world’s largest premium spirits market.
Demand for premium malt whisky is growing by 16% per annum as the market adds a million new spirits consumers each year. Edrington USA will expand the company’s reach to major cities across the USA, opening offices in Chicago, LA, Dallas, Miami and expanding its office in New York. The company said it sees significant opportunities for the brands, particularly The Macallan and Brugal Extra Dry rum. More on the expansion can be found here.


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NEW YORK – Samsung and Panasonic will start selling 3-D TVs in U.S. stores this week, inaugurating what TV makers hope is the era of 3-D viewing in the living room.
Samsung Electronics Co. announced Tuesday that it is selling two 3-D sets. Combined with the required glasses and a 3-D Blu-ray player, the prices start at about $3,000 for a 46-inch screen.
Panasonic Corp. has said it will sell its first 3-D set Wednesday.
The push into the living room comes as moviegoers have shown considerable enthusiasm for the latest wave of 3-D fare in the theater. This weekend, Alice in Wonderland grossed an estimated $116.2 million at the box office, beating the first-weekend receipts of Avatar, the winter’s 3-D blockbuster.
Although it’s clear that 3-D sets for the home will appeal to technology and home-theater enthusiasts, it remains to be seen if the TVs will entice regular consumers to spend $500 or more above the price of a comparably sized standard TV and Blu-ray player.
The 3-D effect requires viewers to wear relatively bulky glasses that need to be recharged occasionally. They’re not like the cheap throwaways that have been used in theaters since the 1950s. When you’re wearing these 3-D TV glasses, room lights and computer screens may look like they’re flickering, making it difficult to combine 3-D viewing with other household activities.
And for now, there isn’t much to watch in 3-D. Samsung is including a 3-D copy of Monsters vs. Aliens on Blu-ray discs with its packages, in a deal with the studio, DreamWorks Animation SKG Inc. Its CEO, Jeffrey Katzenberg, said that it would convert its Shrek movies to 3-D for Samsung TV buyers later this year.
“We continue to see this amazing level of enthusiasm and excitement for 3-D. The rate of adoption for this into the cinema has been a rocket ship these last couple of months,” Katzenberg said.
Eventually, sports and other programming that will benefit from a more immersive experience should be offered in 3-D. ESPN has said it will start a channel that will broadcast live events using the technology, starting with FIFA World Cup soccer in June.
Samsung, the world’s largest maker of TVs, has high hopes for 3-D. Tim Baxter, the head of the company’s U.S. electronics division, said he expects 3-D to be in 3 million to 4 million of the 35 million TV sets that all manufacturers will sell in the U.S. this year.
Sony Corp. said Tuesday it will start selling its 3-D televisions in June. It hopes that 10 percent of the TVs it aims to sell in the next fiscal year will be 3-D units.
Both Sony and Panasonic appear to be positioning their 3-D sets at a higher premium than Samsung. Panasonic hasn’t yet revealed what its sets will cost, but it’s using only high-end plasma screens, for maximum image quality. And rather than selling 3-D sets broadly, it’s going only through Best Buy Inc.’s Magnolia Home Theater stores.
Samsung’s two new sets will be followed by another 13 3-D capable models in the next two months. Soon, 3-D packages with plasma sets will be available for about $2,000, Baxter said.
The TVs going on sale this week aren’t the very first ones that are 3-D capable. A few years ago, Mitsubishi Corp, started selling 3-D rear-projection sets. But this is the first time consumers can get flat-panel sets that come with an easy way of accessing 3-D content through Blu-ray players.e


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SAN FRANCISCO (AP) - Clothing retailer Gap Inc. said Thursday that a key revenue figure rose 4 percent in February, above analysts' expectations, helped by strong demand for spring clothing at its Banana Republic chain.
NEW YORK (AP) - AT&T Inc. backed away from an unpopular service policy after smartphone subscribers complained that the company placed unreasonable limits on its "unlimited data" plans.
SA N FRANCISCO (AP) - Yelp's popular online reviews guide the hungry to the best restaurants, the thirsty to the friendliest bars and the flabby to the toughest personal trainers. But, on the eve of its initial public offering, the eight-year-old, still unprofitable company has yet to convince analysts of its long-term prospects.
SAN FRANCISCO (AP) - "CityVille" fans afraid to spam their Facebook friends with updates about their virtual hometowns can sigh with relief. Zynga has unveiled a new online destination, Zynga.com, where people can play its games away from Facebook, including with people who are not their Facebook friends.
NEW YORK (AP) - Big banks, facing declining revenues and a regulatory climate that leaves them fewer creative ways to make money, are quietly introducing or experimenting with fees that are sure to outrage customers.
MENLO PARK (AP) - Messages from brands such as Walmart and Starbucks may soon be mixed in with your Facebook status updates and baby photos from friends and family.
NEW YORK (AP) - The price of gas has jumped 45 cents since Jan. 1 and is the highest on record for this time of year, an average of $3.73 a gallon. On Wall Street, talk has turned from the European debt crisis to another worry: Will higher gas prices derail the economic recovery?
BARCELONA, Spain (AP) - Microsoft on Wednesday let consumers start trying out its upcoming touch-based Windows 8 operating system, which aims to power a new wave of computer tablets and traditional PCs designed to counter Apple's big gains in the market through its Macs and iPads.
CUPERTINO (AP) - Apple's market capitalization topped $500 billion Wednesday, climbing to a mountain peak where few companies have ventured - and none have stayed for long.
WASHINGTON (AP) - Stronger hiring and higher pay and savings should support solid growth for the economy in coming months.
SAN FRANCISCO (AP) - Microsoft is scrambling to preserve what's left of its kingdom.
NEW YORK (AP) - The price of gasoline rose for the 21st straight day on Tuesday. Drivers are now paying an average of $3.72 a gallon nationwide, about 24 cents more than before the streak began.
SAN FRANCISCO (AP) - Apple is expected to unveil a new version of the iPad at an event in San Francisco next week.
SAN FRANCISCO (AP) - With its own fortunes sinking, Yahoo is angling for a windfall from rising Internet star Facebook.
DETROIT (AP) - General Motors is likely to spend more than $500 million on employee bonuses and profit-sharing based on the company's performance last year.
SUNNYVALE (AP) - Yahoo said Thursday the government threatened to fine the company $250,000 a day if it did not comply with demands to go along with an expansion of U.S. surveillance by surrendering online information, a step the company regarded as unconstitutional.
CUPERTINO (AP) - Apple is poised to reveal its next big thing in a crucial attempt to prove its technological tastemakers still have the power to mesmerize the masses.
SAN FRANCISCO (AP) - Twitter is taking its users shopping.
RENO, Nev. (AP) - Coming to Nevada's high desert: A massive, $5 billion factory that will pump out high-tech batteries for hundreds of thousands of electric vehicles.
BERLIN (AP) - Samsung unveiled two smartphones and a virtual-reality headset Wednesday in a bid to draw consumer attention before its fierce rival, Apple, announces its holiday lineup next week.
WASHINGTON (AP) - The nation's respite from troublesome health care inflation is ending, the government said Wednesday in a report that renews a crucial budget challenge for lawmakers, taxpayers, businesses and patients.
SALT LAKE CITY (AP) - A pair of Utah women dedicated to pushing back against the objectification of women say Carl's Jr. has gone too far with its long-running line of TV ads featuring women in bikinis eating the company's burgers in seductive poses.
NEW YORK (AP) - Home Depot may be the latest retailer to suffer a major credit card data breach.
NEW YORK (AP) - Squeezed into tighter and tighter spaces, airline passengers appear to be rebelling, taking their frustrations out on other fliers.
DETROIT (AP) - Big discounts. Six- or seven-year loans, in some cases to buyers who would have been turned down in the past.
MOUNTAIN VIEW (AP) - Google is hoping a new brand will help sell more of its services to other companies.
WASHINGTON (AP) - People who use Facebook and Twitter are less likely than others to share their opinions on hot-button issues, even when they are offline, according to a surprising new survey by the Pew Research Center.
GENEVA (AP) - Governments should have tougher rules for electronic cigarettes - banning their use indoors and putting them off limits for minors - until more evidence can be gathered about their risks, the U.N. health agency said Tuesday.
WASHINGTON (AP) - U.S. consumer confidence this month reached its highest point in nearly seven years, boosted by strong job gains.
LOS ANGELES (AP) - The Malibu region's growing wine industry, made up of some 50 commercial vineyards, could be squeezed by proposed regulations that would prohibit new grape growing in a large swath of the Santa Monica Mountains.


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Enterprise wallets are opening for 'pragmatic' IoT deployments
Companies are opening their wallets to support IoT deployments, despite concerns about security and a lack of return on investment and benefits – however pragmatism is the name of the game.
A 451 Research survey of nearly 1000 enterprise IT buyers worldwide shows 71% are currently pulling together data for their IoT initiatives, with 90% of enterprises saying they will increase IoT spend over the next 12 months.
Those who already have IoT initiatives underway say they expect their mean IoT-related spending to grow 33% over the next 12 months.
The Voice of the Enterprise: Internet of Things Organizational Dynamics survey shows strong demand for IoT deployments and usage around data and transactional intensive workload categories such as data analytics and security.
Among the IoT specific projects cited by 451 Research are data collection and analysis of financial, healthcare or industrial functions, the uptime/reliability of mission-critical line of business servers and applications, and monitoring the efficiency and costs related to a specific business operation or department such as a hospital emergency room.
A significant portion of IoT transitions are also occurring organically, 451 Research says, thanks to the embedding of intelligent sensors and predictive analytics capabilities in equipment such as semiconductors, motherboards, servers, applications, smartphones, switches and routers and devices such as cameras and HVAC systems.
Laura DiDo, 451 research director and lead author of the study, says the survey shows enterprises are using IoT for practical technology purposes that have an immediate and tangible impact on daily operational business efficiencies, economies of scale and increasing the revenue stream.
Data analytics is already playing an increasingly crucial role in delivering value to IoT ecosystems, with 69% of respondents using data from IoT endpoints such as security, to reduce risk.
Sixty-eight percent of respondents area already taking advantage of IoT data to optimise operations, such as performing preventative maintenance, while 42% use IoT data to develop new products or enhance existing offerings.
“When it comes to IoT adoption, pragmatism rules,” DiDo notes.
When it comes to impediments for IoT deployments, 50% of respondents cited security as their top concern, with 41% concerned about the lack of perceived ROI and benefits.


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Toy collectors have found themselves at the center of a remarkable resurgence. Driven by the mainstream popularity of blockbuster films like Barbie and The LEGO Movie, lifelong enthusiasts and brand-new collectors are flocking to eBay in search of their childhood treasures.
In 2022, ‘Barbie’ was searched more than 6,000 times an hour globally on eBay, and the number of Barbie dolls sold on eBay globally more than doubled compared to 2021. Hannah Hudson, owner of Chicago Barbie Warehouse, has certainly seen a surge in interest for Barbie dolls and accessories since the announcement of the star-studded film.
A Barbie lover herself, she and her husband Ameer run her eBay store as a part-time business, visiting local antique malls, estate sales and garage sales in search of new dolls to add to their inventory. That includes purchasing entire collections from fellow Barbie lovers.
“It’s a really special experience because you get to see somebody’s whole lifetime of collecting, and they have all these special memories to share,” said Hannah. “Knowing that we’re going to pass them onto other collectors keeps it all alive because they know that the dolls are going to somebody who will love them as much as they did.”
Since the teaser trailer for the Barbie film dropped in December of 2022, Hannah has noticed a lot of new buyers making their first purchases at their eBay store. She suspects the excitement around the upcoming movie may have inspired people to start their own Barbie collections, in addition to reinvigorating existing collectors to find the special pieces they’ve been missing.
She’s also recently noticed Barbies from the ‘90s — when the accessories were particularly pink and hyperfeminine — have been very popular among her buyers, as have unique, one-of-a-kind items like handmade dresses made by other collectors.
“In the past, everyone was still very much interested in the truly vintage, traditional ‘60s Barbies because they held a lot of history as the first wave of dolls to come out,” Hannah said. “Now, fans don’t want one specific look anymore; they want something more exciting, more reflective of them.”
Hannah’s husband Ameer — an avid collector of LEGO sets — has seen a similar increase in interest emerge in LEGO collecting since the release of The LEGO Movie in 2014.
“I think the first LEGO movie definitely inspired people to start collecting again,” explained Ameer. ”And because of the movie, there was more attention on the value of LEGO collectibles as investment assets, since the resale price increases after a set retires.” The LEGO Star Wars Cloud City set, for example, originally retailed for $99.99 when it was released in 2003; today, a new and sealed set is worth around $8500, according to BrickEconomy.
Unlike Hannah, who is drawn to Barbies because of their emotional connection to her childhood, Ameer prefers LEGO sets for their rarity. His most prized sets are limited editions that can only be purchased secondhand on eBay, such as LEGO employee gifts, or sets that can only be purchased in Denmark, where the LEGO Group is headquartered.
“Train sets from the late ‘80s and early ‘90s are some of the most popular LEGO collectibles,” said Ameer. “And of course, there’s the Millenium Falcon set from the early 2000s that everyone recognizes. I think the reason why collectors want them is that as an adult, you finally have the means to buy the sets you loved but couldn’t get as a kid.”
In the meantime, both Hannah and Ameer are eagerly awaiting the release of the Barbie movie.
“They’re releasing a lot of new Barbie merchandise for the movie, which is exciting,” said Hannah. “But they’re not recreating every look from the movie, so I anticipate there will be a lot of people making their own outfits and selling those on eBay.”
Hannah expects many of the looks in the movie to be vintage dolls, so people will probably want to find the originals after they see the movie — “and they’ll be turning to eBay and collectors like us for the best finds.”


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Police searching for puppy thieves targeting Cincinnati area stores
Butler County investigators are searching for a group of thieves targeting high-priced pups.
The latest theft happened in Beavercreek, but two days before that, Your New Puppy in Middletown was targeted.
"They're very interesting dogs," store manager Jessica Hilliard said. "They've got very funny personalities."
Hilliard said they work hard at making sure each dog goes to a loving home.
However, that changed last Wednesday when a group of five people entered the store.
"He had a fraudulent ID, fraudulent card, fraudulent everything," Hilliard said.
The group of five is accused of walking in and presenting fake information.
Hilliard said they walked out with two French Bulldogs.
And, according to Hilliard, it was part of an elaborate plan.
The same group is accused of targeting another store just two days later.
Fetch Puppies in Beavercreek captured the same five people at it again.
In a similar situation, two French Bulldogs were taken.
"I know they're also pretty strict about their rules like we are, and he ended up sending me pictures from Fetch," Hilliard said. "They got a hold of the manager and got their video footage and I sent them back a text message that is absolutely them. Same group. Same amount of people. There's 5 of them."
Hilliard said the puppies, which can cost a few thousand dollars each, will likely be sold for profit.
But, for the store manager and the employees, the puppies are priceless.
"This is just a terrible thing to do," Hilliard said.
You can collect a $1,000 reward if you can help police catch the thieves and find the four dogs.


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Orange Thyme, Black Magic kale, Pomegranate Crunch romaine. These aren't your typical grocery store herbs and greens. "My favorite is Mrs. Burns' basil," says Davis Breedlove. "It smells and tastes like Froot Loops."
All of these and much more are growing inside 2401 Larimer Street, a space set to open to the public by the end of July as Farm and Market, a new restaurant and market combo that's reimagining access to fresh produce. "The whole premise is to nourish folks with our high-quality food. ... No one has ever done an ultra-urban farm that sells directly to neighbors."
While another urban indoor farm, Altius, is just two blocks away, it primarily sells to restaurants and markets and isn't open to the public for shopping. "No one is really doing what we're doing," Breedlove adds, "which is kind of scary."
But it's also exciting, especially now that the first test rounds of plants are growing on Farm and Market's 1,100 vertical hydroponic towers, all of which can be seen from the dining and shopping portion of the space through a glass wall. "We care deeply about doing things right," Breedlove says. "Transparency is the biggest thing for me. I greatly believe in truthfulness, just being real. And I'm not a marketer. So I figured, what would be a better way to show the truth of what we're doing here? And it keeps us in check, too."
Read more at westword.com


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– The controversial 5-Day Furniture Warehouse will remain open
to the general public until at least August pending a trial on a
lawsuit the store’s owners filed last week.
GILROY – The controversial 5-Day Furniture Warehouse will remain open to the general public until at least August pending a trial on a lawsuit the store’s owners filed last week.
After a Tuesday hearing, Santa Clara County Superior Court Judge William Elfving stayed the city’s decision that the store must immediately close for sales to the general public save for 12 days a year.
Attorneys said Elfving’s decision is not a reflection on the merits of the case, but will allow the store’s current operations to continue until the case can come to trial before a judge Aug. 4.
The lawsuit does not ask for monetary damages but requests that the city’s decision to limit the store’s retail operations be cast aside.
“I’m delighted the court granted the stay,” said 5-Day attorney Thomas Griffin on Thursday. “It gives us an opportunity to present our issue to the court and pursue the other efforts we’re making through the city to take another look at conditional use and zoning issues.”
Store co-owner Hai Tran told a reporter last week that the store’s lawyers were also considering seeking damages for what Tran considered slanderous comments made by Mayor Tom Springer, but the legal filings do not address that issue.
Springer called Tran’s charges that the city’s decision was affected by Tran’s race “idiotic” and has also made comments about the store’s honesty during City Council hearings.
“It’s clear that Mr. Tran is frustrated – he’s run into a seemingly unfriendly business environment, and I think that’s frustrating to him,” Griffin said. “I think it doesn’t do anyone any good to go there (concerning legal action on slander).
“It’s not what the case is about.”
The city has not filed a formal response to the lawsuit at this point, said Deputy City Attorney Jolie Houston. Each side is expected to file more briefs later this summer.
Springer declined comment on the alleged slander issue Thursday. However, he said a lawsuit against the city would “let the truth come out” about the store.
“It will give us a chance to subpoena every record they’ve got,” he said. “It will show all of the information they’ve got, and let them prove to the courts that their business model in fact exists and let us do the discovery through their whole business structure.”
At issue in the dispute is whether the amount of retail traffic at the 162,000-square-foot store at 500 E. Luchessa Ave. exceeded boundaries the city set for the business. Surrounding it are charges of dishonest intentions, harassment driven by business competitors and allegations that race played a factor in the city’s decision.
City officials allowed for some “ancillary” retail use at the store, which lies in an industrial zoning area where retail is supposed to be limited. But spurred by “anonymous” complaints, they later determined the store was functioning primarily as a retail business, citing as evidence extensive hours of operation, advertising and local sales figures where retail exceeds wholesale sales.
5-Day attorneys argued that the city did not understand the store’s overall business model, where the Gilroy operation is but a small part of its parent company’s larger China-to-United States furniture wholesaling operation. In that context, retail sales in Gilroy are ancillary to the company’s overall West Coast sales, they said.
The majority of the City Council did not agree and voted 5-2 last week, with Councilmen Charlie Morales and Peter Arellano dissenting, to implement findings that the store violated the terms of its business license and must immediately close for sales to the general public except for 12 days a year.
After the hearing Tran said he believed he was misled by the city on his permits and thought his status as a minority affected the Council’s decision, as did complaints from competitor Rosso’s Furniture, which is owned by Gilroy schools trustee Jaime Rosso.
The Rossos have said they don’t reject competition but want all businesses to play by the same rules.
Springer – one of the Council’s most vocal critics of the store’s actions – said the decision had nothing to do with competitors’ complaints or race. He has called the store’s overall business model an “afterthought,” citing what he considers major discrepancies between sales estimates that the store provided in city applications and the ones furnished during appeal hearings.
Councilman Roland Velasco also denied the idea that race played a part in the decision.
“I understand Mr. Tran’s emotions are obviously running high,” he said. “I’m sympathetic. I understand he has a business. Unfortunately, the business is not zoned properly. I encourage him to open in an appropriate place and have his business in Gilroy …
“My decision was not based on race. It was based on the facts as they were presented to me.”


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The man behind one of Lebanon’s largest consumer goods distribution company has died:
Prominent Lebanese businessman Bernard Fattal died in a car accident in Cairo on Saturday.
Fattal and his colleague Tony Saade, who also died in the accident, were traveling to the residence of mutual friend Nicholas Tueni, when the car flipped three times on the highway before it crashed after a tire blew out.
Fattal and Saade were killed immediately, and their driver went into a coma due to severe injuries sutained in the crash.
Fattal, who’s known to be a hunting enthusiast and who practiced his hobby in several countries in Africa and Europe, was in Egypt with Saade for a hunting trip when the ill-fated car crash occured.
Fattal headed the Khalil Fattal et Fils corporation, an agent for multinational companies and distributor of premium brands in Lebanon and the Levant.
In case you are not familiar with Fattal, they are distributors of everything from 3M to Yves Saint Laurent. The list of brands they control is enormous.
He is survived by his wife and three sons.


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More than 100m meals were eaten as part of the government’s Eat Out to Help Out scheme, which ran through August, with chancellor Rishi Sunak confirming this helped protect some 1.8m jobs in hospitality.
Latest figures show that Eat Out to Help out significantly boosted restaurant bookings during the month of August, with the scheme growing in popularity each week.
By midnight on 31 August, when the scheme officially ended, the 84,700 establishments signed up to the scheme had made 130,000 claims worth £522m.
These numbers are likely to grow, with restaurants having until the end of September to claim back the 50% government-funded discount applied to bills.
“From the get-go our mission has been to protect jobs, and to do this we needed to be creative, brave and try things that no government has ever done before,” Sunak comments.
“Today’s figures continue to show Eat Out to Help Out has been a success – I want to thank everyone, from restaurant owners to waiters, chefs and diners, for embracing it and helping drive our economic recovery.
“The scheme is just one part of our Plan for Jobs and we will continue to protect, support and create jobs to ensure we come back stronger as a nation.”
According to OpenTable data, restaurant bookings increased by an average of 53% on Mondays, Tuesdays and Wednesdays throughout the whole of August, compared to the same days in 2019.
In July 2020, restaurant bookings were down 54% on average from Mondays to Wednesdays compared to July 2019.
On 31 August bookings were up 216% compared to the equivalent day in 2019.
And early signs show that despite ending, the scheme has continued to boost demand, with a 2% rise in restaurant bookings on Tuesday 1 September compared to the equivalent day in 2019, according to OpenTable; some restaurants are also choosing to extend the scheme at their own expense.
There had been an upward trend in the scheme’s popularity since it launched, with 10.5m meals claimed for in total in the first week, 35m meals in the second, 64m in the third and more than 100m by 31 August.
The scheme was used across the entire UK, with over 6m meals claimed for in Scotland, over 2m in both Wales and Northern Ireland and over 51m meals claimed for in England by 27 August.
Industry reacts to the scheme
“The Eat Out To Help Out scheme has been a great success for hospitality,” says Kate Nicholls, chief executive, UK Hospitality.
“Our members have reported very strong bookings throughout August at a time when the sector really needed a boost.
“It has helped provide a lift in consumer confidence which is going to be key for hospitality businesses as they look to reopen and help rebuild the economy.
“The scheme has provided a timely boost in trade which will have helped many businesses safeguard jobs all around the UK.
“The government’s furlough scheme underpinned our effort to save as many jobs as possible at Franco Manca and The Real Greek,” adds David Page, chairman of Fulham Shore, which operates the two brands.
“Eat Out to Help Out immediately increased our restaurant customer numbers by over 50%, thus enabling us to get all our staff back to work – in fact, we are now creating new jobs by hiring and training more people as fast as we can.”
Stephen Wall, managing director and co-founder of Pho has also shared his praise of the scheme, noting that his restaurants were staying busy throughout the weekend.
The Eat Out to Help Out scheme is one part of the Chancellor’s Plan for Jobs, announced last month.
Other measures announced to protect, support and create jobs include cutting VAT for tourism and hospitality by 15%, a £2bn Kickstart Scheme, which opened for applications this week, and an £8.8bn investment in new infrastructure, decarbonisation and maintenance projects.
This support for the hospitality sector comes on top of the government’s assistance for all businesses including through grants, tax deferrals, scrapping business rates, the furlough and self-employed support schemes and government-backed loans.


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Siam Cement Group’s (SCG) Cement and Building Materials business has opened the SCG Contact Centre, Thailand’s first homebuilding information and consultation service centre. The new facility was attended by Nithi Pattarachoke, Vice President – Domestic Market at SCG Cement and Building Materials, and Chatchawan Sethaputra, Managing Director – Customer Experience Management at SCG Cement and Building Materials.
Meanwhile, SCG has also announced that more than THB2.1 billion will be invested in innovating SCG Chemical’s high value (HVA) products and services in 2015. The company plans to introduce at least 14 new products to the market and aims for its HVA products and services to account for 29% of the year’s revenue.
In FY2014, SCG’s Cement and Building Materials businesses achieved a 6% y/y growth in sales revenue, while SCG Chemicals reported an 18% y/y increase in sales revenue and a 10% y/y rise in profit.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/asia-pacific-rim/24022015/scg-cement-and-building-materials-business-opens-scg-contact-centre-389/