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Last week, the mainstream media awoke to the fact that it’s not just knee-jerk NIMBY reactions driving Torontonians to fight new condo developments. It’s the banal podiums, those first few stories of big-box banks, pharmacies and chain retail stores that are the pièce de résistance of new condos in the city. (Spacing‘s Shawn Micallef also wrote about this last week in his Toronto Star column).
While urban designers have been saying this for a while now, little attention has been given to why big boxes, banks and chain retail are the developer’s ground floor tenants of choice. Or for that matter how this could be changed. I’ll start this post by trying to explain why this is happening across the city and then highlight a few ways we could address the problem.
Toronto’s current zoning requires most new residential developments, particularly those on main streets, to be mixed use i.e. to have commercial tenants on the ground floor. The City’s Avenue plans then try to tweak these requirements with setback and height regulations so new buildings will match the existing character of the main streets they will inhabit.
These regulations make their impact far before the condo is even built. To get a development constructed takes loans, and banks (particularly in Canada) won’t provide construction loans until enough units have been sold. In financing, these sales are reflected as a cash flow the bank can measure to decide whether they believe the developer can make enough income on the project to pay off the loan. Locking down commercial tenants in those large podiums therefore becomes a key part of the cash flow equation.
But commercial tenants, unlike condo owners, are essentially renters. They sign on for limited time periods and, crucially, often depend on the success of their business to pay the rent. As a result, rather than find lots of small independent businesses to fill their podiums, developers look for the safest tenants willing to occupy large floor plates for a long period of time. Goodbye mom-and-pop shop, hello Shoppers Drug Mart. In other words, form follows finance.
The irony of this is that having many smaller tenants rather than a couple large big box chains or banks would probably make a developer (and municipalities) more money. But to banks — and to some extent developers — this is riskier than landing a couple deep-pocketed tenants who will pay lower rent on large spaces but have little chance of closing down unexpectedly (unlike new restaurants, 60% of which fail in their first year), forcing the developer to scramble to fill the space.
This is the sad reality that is suburban-izing many of Toronto’s downtown streets. In essence, form follows finance.
There are a few options for combating this problem:
1. Do nothing – As Jane Jacobs famously said, “old ideas can use new buildings, but new ideas need old buildings.” In other words, we could just wait a while. Look at some of the older condo buildings along the waterfront and you’ll generally see a diversity of smaller chain stores. This may not satisfy the Ossington crowd, but its better than sterile banks and drug stores.
There are also signs that developers might just realize that it pays to have interesting tenants. Five St. Joseph is the best example of a condo project actively marketing the fact that it’s keeping its small storefronts. Up market projects like the Shangri-La or Four Seasons aggressively seek out ritzy tenants to give their tower the glamour needed to sell $28 million condos. Finally, developers are starting to take notice of the Distillery Districts and DUMBOs that subsidize a menu of galleries, shops and restaurants to create the street life that sells a lifestyle as much as it sells condos.
2. Do something – New York City has taken the lead in actively regulating the size and location of commercial stores on streets through zoning. This happened first on Harlem’s 125th Street, where new banks were relegated to the second floor of buildings. More recently, City Council has gone one step further, passing new zoning in the Upper West Side that also limits the width of storefronts. It’s unclear whether this will return either neighbourhood to their formerly messy glory, but it’s a start.
3. Compromise – Move away from the mixed-use podium paradigm that forces developers to provide banal retail and instead have them build family-sized townhouses free of use regulations. After all, the buildings found on Toronto’s beloved main streets were originally built for (and often by) families to live in. They were the building blocks from which small businesses sprung.
The City of Toronto is already trying to get more family-sized units included in new condo developments and allowing families to rent out the first floor of their townhouse to businesses could make these units more affordable. This is already happening in CityPlace and Queen Street West condos, where small businesses are springing up in the townhouses built at the bases of new towers.
There’s no guarantee these ideas will lead to the kind of neighbourhoods many of us want to live in. In the end, it’s high rent that is driving independent businesses from the downtown; case in point, the plethora of family-owned ethnic restaurants found cheek-by-jowl in Toronto’s suburban strip-malls and food courts.
The key is to avoid the griping about big boxes and banks that can be dismissively shrugged off like so many other “first world problems.” After all, many neighbourhoods need more banks and drugstores. But Toronto’s downtown also has needs: family-sized units, affordable housing and gathering spaces to tie communities together. These needs shouldn’t be trumped by design imperatives for flush streetwalls and matching setback heights.
What’s clear is the status quo isn’t working, and while patience is the name of the game in real estate, better retail, and therefore more walkable streets, couldn’t come sooner.


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Lanxess, a specialty chemicals company, has reportedly announced the acquisition of a U.S.-based material solutions provider, Emerald Kalama Chemical. The agreement has been entered at an enterprise value of over $1.08 billion, with an objective to strengthen the consumer business. The company will purchase Emerald from affiliates of American Securities LLC, a private equity firm.
Lanxess’ core business includes the development, marketing, and manufacturing of chemical intermediates, specialty chemicals, additives, as well as plastics. This specialty chemicals company has recently announced the acquisition deal, which is anticipated to be closed in the 2nd half of 2021. The firm is expected to finance the deal using its existing liquidity. The agreement is subject to the approval of relevant authorities.
Lanxess has reportedly cited that the takeover of Emerald will enable it to strengthen the specialty chemical portfolio, especially the consumer protection segment. The company is also planning to materially expand its business into the growth markets of food & animal nutrition.
Emerald is a material solutions manufacturer whose products include household and cosmetic applications, food preservatives, plastics and adhesives, as well as flavors and fragrances. The company has an employee base of over 500 people as well as operates 3 production sites in Kalama, a city in Washington state; Rotterdam, the Netherlands; and Widnes, Britain. In 2020, it had registered sales of nearly $425 million as well as EBITDA (earnings before interest taxes depreciation & amortization) before exceptionals of nearly $90 million. Furthermore, over 45% of the turnover has been generated in North America.
According to Lanxess, the recent acquisition deal is likely to be earnings-per-share accretive in the 1st fiscal year following the completion. Within 3 years after the closure of the deal, the company expects synergies and cost savings, with an additional $30 million in the annual EBITDA.

domain: news


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A survey of global manufacturers found that only 22% have reviewed their supply chain in light of the Mattel lead toy recall situation. Of that number, 1/3 said they would change how they go about evaluating suppliers. 30% said they were sending quality inspectors to overseas plants. Most of the executives said their greatest fear in doing business with China wasn’t defective products, but that the Chinese would make knockoffs of their wares.
Survey: Global Manufacturers Staying Put in China [the smart cube blog]


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Industrial hemp… you can’t smoke it, but, apparently, you can run your car on it. That and more at this week’s green tech finds.
- Recycle your iPod, buy an iPhone 4: Apparently, that’s what a lot of people are thinking. UK recyclables buyer MoPay has seen a 70% surge in iPod recycling since the release of the new iPhone. (via IT Pro Portal)
- The solar smart phone: Puma’s new smart phone can run on solar power, and displays how much energy a user is saving when in sun power mode. Unfortunately, it’s only available in Europe right now… (via Springwise)


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Ahead of the announcement of the winner of the Nando’s Hot Young Designer Talent Search 2018, we caught up with Nando’s co-founder Robbie Brozin, to find out what motivated Nando’s, a global chicken restaurant chain, to become champions of South African design through initiatives like the Nando’s Hot Young Designer Talent Search.
When South African designer Thabiso Mjo received an invitation to exhibit in Milan during Milan Design Week in 2019, she reached out to Nando’s Design Programme creative director Tracy Lee Lynch. With Lynch’s guidance, sponsorship from Nando’s, and collaboration with fellow South African designers, she curated a one-of-a-kind installation showcasing some of the best design South Africa has to offer. We caught up with her before she headed off to Milan to chat about the installation, as well as the power of collaboration.
Currently preparing for its third iteration, the Nando’s Hot Young Designer Talent Search continues to reveal a wealth of fresh local creative talent. The 2018 competition — in which designers were asked to submit a pattern with a forward-thinking South African aesthetic — was flooded with entries.
When Nando’s put out a call for pattern design entries for the 2018 edition of the annual Nando’s Hot Young Designer Talent Search, hundreds of talented young South Africans sent in entries that told amazing stories, inspired by various uniquely African narratives. Meet the 10 finalists in the clip above and hear from the panel of judges.


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Worker welfare in global supply chains is back on the agenda.
While historically there were voluntary initiatives in “soft law” terms such as the UN Guiding Principles, which required multinationals to give this their attention, now there is a momentum towards compulsory reporting in non-financial narratives by major corporations. This will move forward in the EU with the coming into force by December 2016 of a Directive requiring some 6,500 companies to report on their human rights position, including labour matters.
In the UK, the landmark Modern Slavery Act 2015, which requires transparency, reporting and the taking of preventative steps in supply chains relating to forced labour and human trafficking, received Royal Assent at the end of March. This gives urgent legal force to addressing these issues.
From “soft law…”
Since the ground-breaking “Protect, Respect, and Remedy” Framework was adopted by the UN in 2011, companies are expected to respect human rights throughout their business operations. The UN Guiding Principles (UNGP) detail how companies can know and show that they respect human rights in practice.
Companies are expected not only to avoid causing or contributing to adverse human rights impacts, but to address “human rights impacts that are directly linked to their operations, products or services by their business relationships, even if they have not contributed to those impacts”. Thus businesses have a responsibility to address adverse human rights impacts through their own activities and across the entirety of their value chain.
Suppliers represent a particular challenge for companies: adverse human rights impacts can occur at any level of a supply chain – from the bottom tier of direct or strategic suppliers, all the way through via multiple layers of sub-suppliers and sub-contractors, to those at the end of the supply chain that provide raw material inputs.
…to “hard law”
Under the Modern Slavery Act 2015, larger businesses with a certain level of turnover derived from their UK operations will be required to publish an annual slavery and human trafficking statement. This will mean that any relevant commercial organisation in scope by virtue of the turnover definition – to be announced by the UK Government shortly -which supplies goods and services in the UK will need to report on what actions they have taken to ensure their supply chain is “slavery free”. Businesses will need to describe the steps they have taken to ensure that slavery and human trafficking is not taking place in their supply chains or any part of their own business. The statement will require director sign-off.
Because of the larger number of companies likely to be affected, this potentially has a much wider application than the strategic reporting requirements for quoted companies alluded to above. The UK Home Office consultation into what size of company this new reporting requirement will affect closed in May 2015. The outcome of that consultation will be published in advance of the commencement of the relevant sections of the Modern Slavery Act which are expected to come into force in October 2015 (although this is yet to be confirmed by the Home Office). At that point we will know the full scale of the impact on businesses operating in the UK, with Government Guidance to follow.
The Modern Slavery Act also criminalises arranging or facilitating human trafficking or being an accessory to such offences.
For commercial organisations operating in the UK, these provisions have extraterritorial application.
Key points to note
So, what are the five key issues to know about the Act?
1. Action will be expected
Businesses operating in the UK need to ensure their end-to-end supply chains are free from slavery. Taking its cue from Californian legislation, the Act will require businesses to provide a statement on the steps they are taking to prevent slavery and human trafficking in their supply chains and their own business.
2. Ensuring transparency
The statement must be signed off by a director or equivalent and published on the company website to ensure senior management engagement and transparency.
3. Embedded in law
The UK Government’s consultation as to which businesses will be in scope, using the measure of turnover, concluded on 7 May. The future Guidance is expected to cover the information to be included in such statements – including policies that are to be adopted, due diligence processes that could be used, how risk in a supply chain can be assessed and managed, training to staff, and monitoring. No longer about corporate social responsibility or brand protection, such transparency will be a legal requirement.
4. Measuring effectiveness
Businesses should be looking at how they show they respect human rights and prevent human trafficking and modern slavery in their supply chains, the use of appropriate mechanisms to ensure adherence to human rights standards, and how they measure the effectiveness of the steps they are taking and report this back. Moreover, there is even the theoretical risk of being an accessory to criminal offences committed in the UK or overseas: this cannot be taken lightly.
5. Integrating the law
Integrating human rights and labour issues into existing risk management processes, identifying material and salient risks, and revisiting sourcing strategy and supply chain management will be necessary. Businesses should be considering now how they plan to comply, prevent abuses, and report on their actions.


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Foursquare has gone from check-in darling to an under-recognized data powerhouse. But in that transition, it’s more successful than ever. And its primary emphasis has remained the entire time: real-world consumer behavior. Meanwhile, the ad industry’s hunger for location data grows.
New advances in advertising technology finally allow marketers to better understand how online ads impact offline behavior. Here are five ways that every marketer needs to rethink marketing measurement in order to better reach their consumer base.
As the company maps consumers’ digital actions to where they are and what they do in the real-world, it is looking to become the “Nielsen of the real-world.” Street Fight recently spoke with Foursquare president Steven Rosenblatt about the explosion of location data, and why there is a big opportunity in connecting the dots between ads and store visits.
A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology…Pay-Per-Call: Google Introduces “Call-Only” AdWords Units (Local Search Insider)… Main Street Hub Lands $20M To Bring Social Media Marketing To Small Business (TechCrunch)… Digital First — What Then? (Medium)…
It doesn’t look like Yelp has plans to push across the local marketing stack anytime soon. Responding to a question of whether Yelp planned to position itself as a local operating system for local business like Groupon, CEO Jeremy Stoppelman said it was “hard to say what tangential businesses [Yelp would] get into” but “its safe to say we’re focused.”


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The Realme TechLife Watch SZ100 will be launched in India on May 18, the Chinese smartphone brand has announced through a dedicated landing page on its website. The new wearable will be under Realme’s TechLife brand and feature a 1.69-inch high-definition color display. The Realme TechLife Watch SZ100 will feature a skin and body temperature monitor as well as a heart rate tracker. It is said to provide up to 12 days of battery life on a single charge. The upcoming model is likely to succeed the Realme TechLife Watch S100 that debuted in India in March.
The launch of the Realme TechLife Watch SZ100 is scheduled for May 18 at 12:30 PM IST. A dedicated microsite on Realme India’s website is releasing the key specs of the smartwatch. Interested customers can click the “Notify Me” button on the website to get the latest news about the release.
The Realme TechLife Watch SZ100 is available in two different colors, with a rectangular dial and side-mounted navigation buttons. It comes with a 1.69-inch high-definition color display. The wearable will track skin and body temperature as well as heart rate. Plus, it has a pedometer and built-in features like reminders, calendar, and weather updates. The battery in the smartwatch is said to provide up to 12 days of runtime on a single charge.
The upcoming Realme TechLife Watch SZ100 may be an upgrade over the Realme TechLife Watch S100 smartwatch that was launched in the country in March this year, priced at Rs. 2,499. It is available in black and grey. Prices for new wearables will likely stay in line with that. The Realme TechLife Watch SZ100 is available in two colours – Indian Magic Grey and Lake Blue.
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Samsung Galaxy M22 receives Android 12-based One UI 4.1 update: report


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Nintendo Set To Release Small Switch Despite ‘Performance’ Issues
Nintendo is looking to release a mini Switch, but like a lot of things from the Japanese game Company it’s going to be a slow process with insiders tipping a 2019 release.
Nintendo’s move to combine the two playing styles into a single hybrid design called the Switch has also resulted in a machine that isn’t as powerful as other home consoles like Sony’s PlayStation 4, or Microsoft’s Xbox while also being heavier and with a shorter battery life than the 3DS.
According to Citigroup the new console is too big to truly combine home and portable gaming for everyone with users complaining that the new device is far from “portable”.
The US group expect Nintendo who have has several variants of portable devices to release a smaller version of the Switch in March 2019.
“Although the Nintendo Switch can be used as a handheld device, we think smaller children could struggle to use it comfortably in that format due to its size and weight,” the analysts wrote in an April 13 report. “Accordingly, we think Nintendo will launch a lighter, dedicated handheld version of the Switch, possibly to be called the Switch Mini.”
For decades, Nintendo has turned over billions by having gamers buy two distinct sets of hardware: one to play at home like the Wii, and another such as the 3DS when on the go.
Nintendo shares rose 2.1 percent in Tokyo on Friday after the company said Switch sold faster in its first month than any other of its video-game systems, with more than 906,000 Switch consoles shipping last month in the U.S., according to data from industry researcher NPD Group.
The Citigroup analysts didn’t predict how much the smaller Switch could cost, but estimated it could sell 6.7 million units in the twelve months through March 2019.
Sales in Australia are believed to have slowed, Nintendo expect the regular Switch to sell 25.7 million units by then.


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Monday, March 18, 2013
Bulgari assets seized by police in tax evasion investigation
Trouble could be brewing for LVMH owned brand Bulgari. Police in Italy have seized assets from the luxury Italian jewellers and watchmakers worth €46 million (£39.7m) as part of an investigation into possible tax evasion. Bulgari has been stripped of properties, including its flagship store in Rome, bank assets and company stakes.
The police investigation centres around the Bulgari family members Paolo and Nicola Bulgari, chief executive Francesco Trapani and the luxury group's lawyer Maurizio Valentini, although no arrests have been made.
The four men are accused of making fraudulent declarations about €3 billion (2.6bn) of revenues by using foreign subsidiaries. The period into which the police are looking runs from 2006 to 2011, which falls before the acquisition of the Italian watch and jewellery brand by luxury group LVMH.
Bulgari is reported to have said that it “is extremely surprised” by the allegations and that it "will take all actions necessary to clarify its position”.
“The investigations have brought to light a true ‘escape strategy’ to avoid Italian taxes and in particular tougher rules that were introduced from January 1 2006 related to the taxation of dividends,” the police said in a statement.
Bulgari is not the first luxury goods group to come into the sights of the Italian tax police.
Italian police in November confiscated €65m of assets, including a 15th century castle, from the Marzotto family and its business associates over suspected tax evasion connected to the 2007 sale of the Valentino luxury brand.
TAG Heuer CEO, the highly regarded Jean-Christophe Babin, is due to take the helm at Bulgari in the next few months.
Visit the Bulgari website


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Even after launching a credit package worth hundreds of trillions of dong to support businesses, bad debts will still increase this year.
From August 15, 2017 to the end of March 2020, the banking system settled VND299.8 trillion worth of bad debts in accordance with Resolution 42. However, analysts believe that bad debts will increase as businesses’ operations are at a standstill.
Anticipating high risks, commercial banks have to increase provisions against risks and step up the sale of collateral to collect debts.
Under the plan, 2020 is the deadline for the settlement of bad debts sold to VAMC. If the bad debts still cannot be settled, banks will have to buy the debts back for settlement.
Nguyen Duc Thach Diem, CEO of Sacombank, said the bank aims to settle VND11 trillion worth of bad debts this year and believes the goal is within reach.
Meanwhile, SCB is offering to sell 7 real estate assets worth several billion dong to hundreds of billion of dong. LienVietPost Bank has also put mortgaged assets into auction with starting prices from hundreds of millions of dong to hundreds of billions of dong.
|Banks’ Q1 finance reports showed that the third-, fourth- and fifth-group debts (fifth-group debt is the worst debt which may be irrecoverable) have increased rapidly. Kien Long Bank reported that the bad debt has increased by 5.7 times to VND2.293 trillion, from 1 percent to 6.62 percent.|
According to Nguyen Quoc Hung, director of the Credit Department, around VND1,800 trillion, or 23 percent of total outstanding loans, has been affected by the epidemic.
Commercial banks report that they had implemented 40-50 percent of yearly plans by the end of June. However, credit has been growing very slowly.
Bankers said that more mortgaged assets would be put on sale in the time to come, and banks’ profits will decrease sharply because of high provisions against risks.
Nguyen Dinh Tung, CEO of OCB, said businesses are struggling to stop the decline and many of them may go bankrupt, so the bad debts will increase.
Putting mortgaged assets for sale is clearly the best way for banks to collect debts. Nhip Cau Dau Tu quoted some analysts as saying that it is very difficult to find buyers for assets with high value, VND30 billion or more.
To date, commercial banks have committed credit package of VND300 trillion which aims to help businesses overcome the epidemic.
“The policies on restricting debts and extending debt payment deadlines have helped prevent the bad debts from increasing,” said Can Van Luc, chief economist of BIDV.
However, even with the big credit package, bad debts will still increase.
Banks’ Q1 finance reports showed that the third-, fourth- and fifth-group debts (fifth-group debt is the worst debt which may be irrecoverable) have increased rapidly. Kien Long Bank reported that the bad debt has increased by 5.7 times to VND2.293 trillion, from 1 percent to 6.62 percent.
Timo officially moves to new banking partner
After five years of establishment and development, Timo, the digital banking platform which was awarded Best Digital Bank in Vietnam 2019 by AsiaMoney, has decided to join forces with a new banking partner — Viet Capital Bank — in order to deliver more rapid innovation and a better experience to customers.
The new app is called Timo Plus, which is an improved version of Timo that will continue to be one of the innovative digital banking platforms in Vietnam when it launches in September.
Timo’s mission is to provide a smart financial management platform with a focus on the best user experience.
With the intuitive and user-friendly interface of Timo Plus, users can conveniently send and receive payments, manage savings and investments, borrow money and create financial plans.
To accomplish this mission, Timo has striven to find a suitable, long-term partner who brings not only the core banking systems but also shares our vision of creating the best digital banking platform for the increasingly sophisticated customer base in Vietnam.
Thus, after rigorous study and due diligence, Timo and Viet Capital Bank decided to form this strategic partnership.
With this partnership, the new digital banking application, Timo Plus, will continue to have all the best features of the current Timo app and will continue to innovate on Viet Capital Bank’s core banking platform and technology.
The user experience and benefits of customers are always Timo’s main focus, and it will continue to put customers first in the new Timo Plus app.
Timo’s existing customers will have the option to seamlessly migrate to the Timo Plus application with the new banking partner, Viet Capital Bank, in the coming weeks.
The transition is expected to be completed on September 8, 2020. After this date, Timo customers will no longer have use of the current app.
Those who have not already migrated to the new Timo Plus app will have the option of maintaining their account with VPBank or shut down their account.
Putting customers first has always been Timo’s focus irrespective of banking partner.
During the transition, customers can visit the website www.timo.vn for more information, email [email protected] or call 1800 6788 during working hours. Timo is ready to serve and support customers as usual.
About Timo’s digital banking platform
Established in 2015, after five years of building and developing, together with receiving the support of customers, Timo as a digital banking platform has brought customers outstanding products and services in the Vietnam banking market.
Timo provides its customers with a comprehensive set of tools to support their financial needs with essential banking services.
Timo’s hybrid ‘Hangout’ brick-and-mortar concept, combined with the simple and user-friendly application, brings modern banking services to the public in the most innovative way.
Timo Spend Account enables spending and tracking of money with a fully functional account and debit card for transferring money, paying bills, topping up credit to any mobile phone number, and access to ATM withdrawals nationwide — all for free.
Timo members have the ability to send money to other Timo members using just their email address.
Smart Savings options like Goal Save enable built-in financial planning for short- or long-term goals with the option of recurring contributions towards their goal from their Spend Account.
Term Deposits also encourages digital savings using competitive interest rates and intelligence to help customers break down the Term Deposit into smaller units for maximizing interest earned even in case of early redemption.
Lending products like Fast Cash or overdraft can be applied for and credited to the customer’s accounts in under 30 minutes, while applying for a Credit Card is aimed at minimizing hassle.
Customers can also purchase insurance, flight tickets and invest in mutual funds through partners’s products available right in the Timo app.
About Viet Capital Bank
Viet Capital Bank was established in 1992. Over 27 years of development, with the business strategy of becoming a modern and multi-functional bank, Viet Capital Bank has taken great strides in the transformation of the banking sector in Vietnam through a focus on technology and customer care, especially for SMEs and individual clients.
In digital banking, Viet Capital Bank is recognized as agile and quick to adopt digital transformation initiatives such as being the first to implement eKYC with TrueID technology from VNG.
Viet Capital Bank has also been a pioneer in online and mobile banking, and has led the banking sector in partnerships with the leading fintech and digital financial services innovators.
Its business results through the first six months of this year reflect the benefits of this focus on technology and innovation as the number of transactions and transaction value handled by Viet Capital Bank have increased by over three times and over five times, respectively, as compared to last year.
Analysts, authorities make contrasting claims about high Vietnam gold prices
A supply shortage in Vietnam has widened the difference between domestic and global gold prices, according to experts, but authorities reject the claim.
Gold prices have been rising relentlessly this year as investors sought a safe haven amid the uncertainties caused by the Covid-19 pandemic. Vietnamese gold prices have always been higher than international rates, but in recent weeks the difference has been widening.
Prices of the popular SJC gold on Saturday morning was VND60.3 million ($2,594.87) per tael of 37.5 grams (1.2 ounces). This translated into a difference of $150, up from $40-100 last month.
Huynh Trung Khanh, senior consultant to the World Gold Council in Vietnam, Singapore and Indonesia, said the growing difference could be because there is a short supply and gold sellers have hiked prices.
The chairman of the Vietnam Gold Investment and Trading Corporation (VGC), Tran Thanh Hai, concurred with him saying local distributors like Saigon Jewelry Company (SJC) and DOJI are concerned about a shortage and have pushed their prices up.
DOJI reported a 30 percent surge in the number of customers in July and this month from a year ago. Bao Tin Minh Chau, another seller, said at times in recent weeks demand was several times higher than in the same period in past years.
But authorities dismiss this. Nguyen Hoang Minh, deputy director of the State Bank of Vietnam’s Ho Chi Minh City branch, said there is no short supply of gold bullion.
Gold companies are only pushing up prices to hedge the risks arising from the global volatility, he said.
Vietnam, with reserves of nearly $90 billion, could intervene in both the gold and foreign currency markets if necessary, he added.
Vietnam becomes second most optimistic country in Q2 2020: Nielsen
After one year, Job security overtook Health to become No.1 concern of Vietnamese consumers.
Overcoming the first wave of Covid-19, in the second quarter (Q2) of 2020, Vietnam became the second most optimistic country globally with Consumer Confidence Index of 117 points, despite being down 9 points compared to Q1, according the latest report by Nielsen Vietnam for Q2/2020.
|Source: Nielsen Vietnam|
In Q2, the Global Consumer Confidence Index fell sharply from a near historic high of 106 in Q1 to 92, indicating pessimistic consumers outnumbered optimistic ones globally for the first time since 2016. A reading below 100 is considered negative.
The 14-point drop is the largest quarterly decline since the index began in Q1 2005 and is twice the largest drop in the index during the global financial crisis in 2008/09, according to the report.
In Q2, 56 out of 68 markets in the survey reported confidence levels under 100, signaling greater pessimism among consumers globally. Ten markets reported levels under 66 (very negative territory). This implies that almost all consumers surveyed globally are pessimistic. Despite the plunge in confidence across all Asia-Pacific markets, the region polarized, being home to many of the most optimistic as well as the most pessimistic consumers in the world.
Although there was a sharp decrease from 126 to 117 points compared to the previous quarter, Vietnam still placed among the most optimistic countries globally. As such, Vietnam overcame the Philippines and Indonesia to rank 2nd in the world for having the most positive consumers, after India, whose score was 123.
|Source: Nielsen Vietnam|
The combination of deteriorating job prospects, rising anxieties about short-term personal finances and spending readiness drove the decline in Vietnam’s consumer confidence this quarter.
All three drivers of consumer confidence including job prospects, personal finances, and spending intentions witnessed significant declines.
“Having successfully managed the first wave of the outbreak, Vietnam is on a rebound, however, consumer confidence is weaker overall due to the impact of the pandemic which has impacted many people’s personal situation as well as their outlook of going forward,” said Louise Hawley, managing director of Nielsen Vietnam.
Job security becomes No.1 concern
In the quarter, Job security overcame Health to be the top concern of Vietnamese consumers who continued to rank Job security and Health as their top two key concerns.
|Source: Nielsen Vietnam|
Remarkably, there was a big jump in consumer concern about the Economy (31%, up 10% against Q1), which is now at the highest level since Q2 2014.
Work-life balance moved down one spot on the key concern list with less than one in four consumers indicating it as a worry (23% compared to 22% respondents in Q1). Hanoitimes
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Tuesday, January 3, 2017
In Roscoe, no Prohibition on distilling success
However, it is becoming know for for something a lot more warming than wading in frigid streams. Its newest claim to fame is what comes from the Prohibition Distillery, which is turning out small-batch craft vodka, gin and bourbon under the label Bootlegger 21 New York.
The micro-distillery, which opened on 2009, is finding its products gaining traction in a variety of high-end restaurants and bars in New York and New Jersey, at MetLife Stadium where the Giants and Jets play, and at the famed Four Seasons Hotel in Manhattan.
One of its most popular spirits is Bootlegger 21 Vodka, slow filtered for 24 hours through 800 pounds of activated charcoal, resulting in a very smooth product.
Prohibition makes just 10,000 cases of spirits a year, so it also has the tag of being rather exclusive, although not particularly expensive as boutique brands go.
"We are a $30 bottle of vodka, but we are in many of the world’s top martinis,” said Brian Facquet, founder and chief executive, in an in terview with Jewish Link of New Jersey. “The world has changed. People are moving away from mass-produced spirits, as part of those joining the farm-to-table movement. Chefs want to know their producers and where their products come from.”
Prohibition utilizes only New York-grown corn and other ingredients and uses a local milling source. For its juniper-forward gin, botanicals are steeped in 120 proof (60% abv) neutral spirit entirely from 100 corn for 24 hours to produce then maceration. It then is distilled in a 300-gallon pot still to remove all of the color and bind the flavors. It eventually is whittled down to 47% abv, or 94 proof for bottling.
Prohibition is located at 10 Union Street in the hamlet, about a two-hour drive southwest of Albany. Tasting room phone: 607-498-4511.
• Go here to visit the Capital Region Brew Trail
• Go here to visit Dowd's New York Wines Notebook
• Go here to visit Notes On Napkins
Posted by William M. Dowd at 1:00 AM


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ONE Championship, a Singapore-based Martial arts organization, recently announced its partnership with Facebook, landing multiple deals including a Facebook Gaming channel dedicated towards featuring ONE’s top athletes, exclusive content on Facebook Watch, and a VR experience through the Facebook-owned Oculus platform.
Group CCO of ONE Championship, Hari Vijayaranjan, stated that the company is committed towards discovering new ways to connect authentically with fans and allowing them to experience the stories created by the athlete superheroes.
The long-term partnership with Facebook has been pivotal in reaching audiences worldwide and the extension of the partnership will help ONE Championship to leverage the power of Facebook platforms, be it VR with Oculus, Facebook Gaming, or Facebook Watch, added the CCO.
Director Sports Partnerships Facebook Asia Pacific, Joyee Biswas, on that matter, was thrilled on the partnership, stating that community is the core of ONE Championship and Facebook will continue to support them reach their audience. The announcement today also marks the arrival of ONE’s content to the Oculus platform wherein their community will interact and create a meaningful experience for fans.
For the record, ONE’s Facebook page has surpassed 25M followers and the company already crossed 5 billion platform video views as of 2019.
According to sources familiar with the matter, the partnership includes an agreement to deliver customized content to martial arts fans across the globe, filled with unique camera angles and behind-the-scenes clips among others, which will be exclusive to IGTV and Facebook Watch.
The next agreement involves the launch of ONE Esports Facebook Gaming channel, where ONE athletes will livestream gameplays and interact with their fans daily.
The last one follows the launch of "Only on Oculus" next-gen VR content available through the Venues app for Oculus Quest headset where fans can virtually experience the best seat in the room.


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November 23, 2015 4:20 PM
Thanksgiving travelers will pay less for gasoline than they have in more than a decade.
The average price of unleaded gasoline is expected to hit $1.99 on Thanksgiving, GasBuddy.com analysts reported.
France's Macron to outline his vision for Europe
To category page


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GM Reaches Deal to Sell Opel and Vauxhall to Magna
By Brendan Moore
After months of sometimes-contentious discussions over Opel’s fate, GM has announced that they will sell 55% of Opel and Vauxhall to Magna Intenational and its Russian partners, the automaker GAZ and the government-controlled bank, Sberbank. The deal calls for GM to retain 35% ownership and for Opel employees to have a 10% stake in the new structure.
GM has over 80 years of history with Opel in Europe, and now enters a new era of that history as minority owner. At the same time, the deal offers both Magna and its Russian partners a chance to be something important in the world of international auto manufacturing, a new experience for those entities.
Magna, the Canadian-Austrian parts supplier, has long been a major player in the auto parts supplier sector, and will now be a full-fledged manufacturer. GAZ and Sberbank have mainly confined their business efforts to their home country of Russia in the past, and are now on a larger stage.
Magna was the heavy favorite of the German people and the German government to get Opel; it was believed that the other potential bidders would eliminate a much greater number of German jobs under their proposals.
GM, however, has a tremendous amount of concern regarding the transfer of technology to GAZ, Magna’s partner. GM competes hard against GAZ in Russia, a fast growing automotive market.
Additionally, GM has increasingly relied on Opel to provide new car platforms and technology for the North American market, and wants to make certain that it continues to have the ability to keep doing that in the future.
These concerns are so great that GM was actually considering working out a deal in the last couple of weeks to keep Opel, but, with a price tag of over $6 billion USD, it just wasn’t feasible, and GM decided to sell to Magna and its partners. GM has included some conditions in the deal to safeguard their technology and ownership rights that are as of yet unknown, and could conceivably still scuttle the deal.
But, it was all smiles today as GM CEO Fritz Henderson said, “The hard work over the past two weeks to clarify open issues and resolve details in the German financial package brought GM and its board of directors to recommend Magna/Sberbank.”
Henderson added that GM will “continue to closely collaborate with Opel and Vauxhall to develop and produce more great cars, such as the new Insignia and the new Astra.”
German Chancellor Angela Merkel must be happy about the outcome; not only is the winner of Opel, Magna, which was Germany’s choice all along, the decision was announced before German national elections on September 27, which promise to be close. GM’s hesitation over Magna had grown into a domestic issue of some consequence and Merkel was taking heat for not being able to get the deal done under her watch.
Merkel has already told German voters that she and her party, the conservative Christian Democrats, are responsible for the positive resolution of the deal, citing the tenacity with which she went after the result, and has declared that she is “very pleased” with GM’s decision regarding Opel.
Frank Stronach, the CEO of Magna, has got be just over the moon regarding GM’s decision – he has finally realized his dream of Magna becoming a full-fledged manufacturer after much waiting and struggle. He is now in the big-time.
Well, you have to believe that their preferred outcome would have been to retain a successful Opel/Vauxhall, but Opel is bleeding rivers of red ink, German sentiment had decisively turned against continuing GM majority ownership, GM is still in precarious financial straits themselves, and the cards were all stacked against GM continuing to own Opel outright. They probably made the best decision they could at this time regarding Opel.
COPYRIGHT Autosavant – All Rights Reserved


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By Ben Jervey
Drivers of electric cars are being unfairly punished by punitive fees in several states, according to a newly published analysis by Consumer Reports. Legislators in 26 states have enacted or proposed special registration fees for electric vehicles (EVs) that the consumer advocacy group found to be more expensive than the gas taxes paid by the driver of an average new gasoline vehicle.


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Gerd Walker who is Automobile Production Director at Audi Hungaria has announced assembly of the third generation Audi TT has started. At the factory located in Gyor, Audi is producing not only the all-new TT but also the A3 Sedan, A3 Cabriolet and S3 Sedan.
It’s important to mention the TT is fully built in Gyor where there are more than 3,000 employees. 800 of them are from the previous assembly line in the engine plant and all have . participated in an extensive training course at Audi Hungaria’s training center as well as at the company’s production sites in Germany.
Back in November 2013, the plant in Gyor built the 500,000th TT and it was powered by the 25 millionth engine, a 2.0-liter TFSI four-cylinder motor. That engine also powers the third generation Audi TT where it offers 230 PS in the standard model and 310 PS in the TT-S. There’s also a third engine option in the form of a 2.0 TDI rated at 184 PS.
Front-wheel drive is standard on the third generation Audi TT but a quattro system is optionally available and comes as standard on the hotter TT-S, allowing the model to complete the 0-62 mph (0-100 km/h) run in 4.7 seconds when configured with the S tronic transmission available at an additional cost. The diesel variant runs the sprint in 7.2 seconds and can hit a top speed of 146 mph whereas the TT-S is electronically-limited at 155 mph.


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The Black Book Market Insights report released Tuesday had this anecdote from auction lane commentary in Georgia:
“SUVs flooded the lanes today. In general, prices remained high as the stability of the market continues."
Strong and stable. Such was the wholesale market last week.
Wholesale prices were fairly steady, according to that Black Book report, which said values for car segments were down 0.08% last week (volume-weighted) and truck prices were up 0.09% (volume-weighted).
In the preceding four weeks, car prices had climbed an average of 0.18% and trucks had an average gain of 0.11%.
“Prices barely moved last week as the consignors held on to the floors,” Black Book executive vice president of operations Anil Goyal said in the analysis. “The demand for used vehicles continues to be strong.”
In a similar analysis released last week, Black Book’s Used Vehicle Retention Index continued to show sequential softness, but used-vehicle prices are still performing better on a year-over-year basis.
The index reading for April (113.6) was down 0.2% from March, which was the fifth straight month-over-month decline.
However, the index was up 1.4% year-over-year. Through April, the index has climbed on a year-over-year basis each month of 2019.
“That the Index has declined for five straight months and it is still slightly higher than where it was a year ago is a testament to the sheer strength in the market we saw throughout 2018,” Goyal said in that analysis. “Much of the 2018 activity was spurred by economic strength, resulting in significant demand for affordable used sedan values. It will be difficult to replicate that activity over the remainder of 2019.”
The latest Manheim Used Vehicle Value Index was also released last week. At 138.4 for April, it was up 4.5% year-over-year. The analysis indicates that wholesale prices were up 1.81% sequentially for the month, adjusted for mix, mileage and seasonality.
There was the usual spring bounce to kick off the month, the company said, citing its own Manheim Market Report weekly data. There were hikes in the aggregate prices of 3-year-old vehicles during the first two weeks, followed by stability toward the end of the month.
Mainstream segments, however, were “continuing to see gains.”
Again, the Manheim index was up 4.5% year-over-year in April. Breaking that down by select segments, compact cars climbed 2.3%, midsize cars were up 5.8%, luxury cars climbed 2.4% and pickups jumped 5.3%.
SUVs and CUVs were up 3.3%, while van values dropped 2.2%.


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Kourtney Kardashian appeared to be a pop icon as she wore Britney Spears’ iconic 2001 VMAs dress to pay special tribute to the singer amid her father’s move to withdraw from her conservatorship after 13 years.
The ‘Keeping Up With The Kardashians’ star gave Spears a run for her money as she revived one of her famous looks.
The mother-of-three took inspiration from Britney Spears for her latest look on Tuesday as she posed for snaps in the see-through ensemble on Instagram.
Britney Spears, who was 19 at the time, wore the same dress during her stunning appearance at the 2001 MTV Video Music Awards shortly before making pop culture history with her Slave 4 U performance.
The 42-year-old Poosh founder decided to make a fashion nod to that time as the anniversary of the event comes up this month. The Tv star added to the ensemble by wearing thigh-high lace tights along with black pumps that featured silver stud embellishments.
Kourtney Kardashian apparently paid tribute to Britney Spears as she channeled the pop star in her iconic 2001 VMAs dress.PUT 1xbet


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Updated 11 Jan 2021, 4:19 am
The production of organic turmeric is likely to increase 50 per cent more in 2021 as compared to the previous year’s production as 500 farmers of Kakching Organic Producer Company Private Limited are aiming to produce about 250 tons of organic turmeric, chairman of Kakching Organic Producer Company Private Limited Naorem Achoubi announced on Sunday.
He was speaking to the media during a visit by project director, MOMA K Devdutta Sharma at an organic turmeric harvesting site in Kakching Khuman Kerjing hill, Kakching district. He said the company is planting turmeric on about eight hectares of land under Manipur Organic Mission (MOMA) of state Horticulture and Soil Conservation department. In addition to turmeric, 500 farmers of the company are also planting 5 hectares of organic ginger as well, he mentioned.
Achoubi said that harvesting of turmeric was started on Sunday, and it will be completed in a few days. He said the company harvested about 150 tons of turmeric last year, and it is planning to harvest about 250 tons of organic turmeric for the running year.
Similar organic turmeric is also being planted at Kakching Maning hill and ginger at Funal hill. The turmeric harvested today has been growing for the past 2 years, he added.
The turmeric farm has been providing jobs to many farmers and more farmers are trying to engage themselves in producing more organic turmeric as well as ginger, said Achoubi.
Consumers are becoming more health conscious and beginning to prefer to include in their daily diets organic agriculture products.
Project director of MOMA, Devdutta said there are 15 farmers’ producer companies under MOMA at present. Among the 15 companies, Kakching Organic Producer Company has been showing fast development due to the hard work of the farmers. By considering the fast development of the company, MOMA will extend more necessary assistance to produce more organic products. He said the farmers should not use any sort of chemicals.
Devdutta further said the farmers need not face fear about marketing the organic turmeric and ginger, as MOMA is ready to give assistance for marketing the organic products.
First published:10 Jan 2021, 7:06 pm


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HP and Dell are involved in a bidding war over Fremont-based 3Par, the world’s “fourth fastest growing technology company.” The company close 50 percent higher on the stock exchange as a result.
Both HP and Dell are trying to get their hands on 3Par (NYSE: PAR), the Fremont-based company that produces hardware disc arrays and storage management software. Forbes recently called 3Par the world’s “fourth fastest growing technology company.” HP initially offered $24 per share for the company, but this was topped by Dell, which offered $24.30. On Thursday, HP countered with a $27-per-share offer for the company. Dell had originally hoped to acquire the company for $18 a share.
News of the latest HP bid jolted the company’s value on the stock exchange, with a closing price of $26.03, 50 percent higher than at the start of the day.
Read More at the Business Journal.


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ASX investors have long struggled with a seemingly simple question: how much are shares of Afterpay Ltd (ASX: APT) really worth? At the time of writing, the market has decided a price of $124.38 is appropriate. But, judging history, this could change dramatically in the future. Back on 10 February, Afterpay was judged to be worth $160 a share at one point. And of course, in March last year, the market decided that a price under $9 was fair.
Since Afterpay doesn’t yet make positive earnings, or official profits just yet, it’s hard to value this company on its cash flows (or lack thereof). So it has turned into a ‘future profits’ game for this company.
Well, one investor isn’t so optimistic.
According to a report in the Australian Financial Review (AFR) this week, the highly regarded American brokerage firm Bernstein has just initiated coverage of the Afterpay share price. This is fitting, I suppose, seeing as it looks as though Afterpay is heading for a US listing soon.
So what did Bernstein, which the AFR notes are a firm “which has a reputation for high-quality investment research”, think of Afterpay shares today?
Well, not highly, it seems. Bernstein has reportedly given Afterpay a price target of just $40 a share. That’s a good 68% down from the share price we see right now.
Is Afterpay worth $40 a share?
Why such a low share price target? Well, Bernstein isn’t worried about Afterpay’s raw growth. The report states that Bernstein is actually assuming Afterpay will be able to grow its gross merchant value by ten times to $108 billion over the next 5 years. That will be fuelled by continued growth in the buy now, pay later (BNPL) market itself, as well as Afterpay growing its market share and expanding into new markets.
But Bernstein is predicting that Afterpay will have to bow to competitive pressure as it grows. It sees Afterpay experiencing margin compression, and estimated the company’s ‘take-rate’ will fall from the 3.8% it’s currently at to 2.8% over the next 5 years.
This, Bernstein says, is exactly what has happened to other payments companies like PayPal Holdings Inc (NASDAQ: PYPL). The broker also notes that PayPal managed to pull in a third of Afterpay’s payment volume in the first quarter of offering its own instalments plan.
Bernstein sees Afterpay hitting revenues of $3.6 billion in 2025 and profits of $349 million. That would deliver Afterpay earnings per share of $1.30, which would give Afterpay a share price of $51 a share on a price-to-earnings (P/E) ratio of 40. That $51 share price for 2025 has been discounted back to $40 today.
It’s worth noting that many other brokers are far more bullish on Afterpay. According to the AFR, broker Jefferies has recently raised its price target to $157.38 on higher revenue and growth forecasts. Citi has a $128.3 price target.
I guess we’ll have to wait until 2025 to see who’s right. But someone is going to be very wrong at the same time.


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Youth oriented channel Reliance BIG CBS Spark is relying heavily on digital to reach out to their audience, and according to Anand Chakravarthy. Executive Vice President Marketing Reliance Broadcast Network Limited, the channel has allocated 80 per cent of their spend for digital, with the rest going towards radio and some OOH.
The channel was launched in May 2011, and has allocated Rs 5 crore towards its digital campaign, confirmed Chakravarthy. He said, “As this is a very focused audience, a very focused campaign was needed. The youth are quite active on social and mobile platforms, so we decided to launch a campaign around these.”
To push the channel on digital media, they have launched a WAP site and broadcast the WAP site through Bluetooth during IPL matches at locations were their audience (15 – 24 year olds) could view shows, promos of the upcoming episodes, participate in contests and share links from the website.
Chakravarthy added, “With the advent of 3G and multimedia, mobile is a very useful and important platform for brands to interact with customers. With multimedia and smartphones, users can access web content on their phones and download music, videos. A mobile WAP site is the key thing that combines mobile and digital.”
Aside from this, the channel also tied up with sister company Zapak to develop the WAP site, along with games for users, and features like show listings and reminders. Also during two of the IPL matches people in the stadium were able to access the WAP site for free through Bluetooth.
At the same time, the channel also deployed rich media banners on mobile to allow users to see snippets of shows and this got them almost 70,000 downloads, with nearly 14,000 leads to the mobile site, while the channel's Facebook page has built up 40,000 members since being launched in May. Chakravarthy said, “Seeing that it has helped the brand establish an interactive platform with the customers, we will keep developing and sending interesting new content, updates for shows, to engage with users.”


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Martin Luther King Jr. Day is celebrated on January 16 in the United States in honor of the civil rights leader. And while some stores and services close, others remain open.
On Monday, January 16, Martin Luther King Jr. Day is celebrated in the United States, a day that commemorates the legacy of the civil rights leader and reflects on racial equality.
Although many businesses and government offices will remain closed in honor of this holiday, there are several stores and services that will continue to operate as normal.
Here’s a list of stores that will be open on Martin Luther King Jr. Day so you can plan your shopping and activities.
Although it is closed on some holidays, Costco is not closed on Martin Luther King Day. The chain of stores will be open, although hours could vary depending on the location. You can check Costco coupon book here.
Stores will be open on this holiday, but hours may vary by location. Consider that there will also be delivery and pickup options available. You can check the fees of your local store here.
Stores will follow their normal hours of operation on that holiday, although hours may vary by location. You can check the fees of your local store here.
Stores will follow their typical hours of operation on that holiday, but hours may vary by location. You can check the fees of your local store here.
Stores will follow their normal operating hours on Martin Luther King Jr. Day, but hours may vary by location. You can check the fees of your local store here.
Post office and mail services
Federal Express and the United Parcel Service will deliver and open their stores on Monday, but the United States Postal Service will close its offices and will not deliver on Monday.
Banks, including Bank of America, Chase, CitiBank, Wells Fargo, and U.S. Bank, will be closed on Monday. Of course, remember that you will still be able to access some of its services online or in its mobile applications.
Generally, public schools give students the day off on Martin Luther King Day. However, it is worth checking with your local school district.
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.


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Back in 2017, Respawn announced that they were working with Oculus to create a virtual reality AAA shooter. However, we will finally be able to see what they have created in the last couple of years at Oculus Connect 6 in September.
We don’t know much about the untitled virtual reality AAA shooter game. Moreover, from the teaser, all we can say that its a shooter game and an FPS game which has now been confirmed by Respawn. Respawn had a big year so far, including the successful release of Apex Legends at the start of 2019, and the full reveal of Star Wars Jedi: Fallen Order. However, many people are saying that the upcoming AAA shooter game is the VR ( virtual reality ) version of Titanfall. But, there is another Titanfall game is coming this year so this has nothing to do with Titanfall. Oculus Connect 6 starts on September 25 and will end on September 26, 2019.
Click here, if you want to teaser to get an idea about the game.
Rainbow Six Quarantine is expected to release by the end of March 2020
EA Sports has revealed the Cover Stars of FIFA 20
For Honor and Alan Wake are going free on Epic Games Store next week
Bethesda has surprisingly released Doom, Doom 2, Doom 3 on Consoles


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SUNDERLAND, England — Not every abandoned dog will receive the gift of a new home this Christmas, but one woman wants to ensure that the dogs that are left behind, can still indulge in the holiday spirit. Dog enthusiast Jan Brown, has spent countless hours knitting over 300 sweaters for abandoned dogs since 2010. Although she knits year round, she particularly amps up her production around Christmas time in order to knit enough festive outfits to keep the shelter dogs warm every holiday season.
READ MORE: COULD THIS BE THE END OF GREYHOUND RACING
When not knitting sweaters and hats during the holiday season, Jan works full-time knitting doggy clothing that she sells online. Jan quit her job in 2012 to have enough time to knit, and she donates all of the proceeds from her sales, to rescue centers across England. The funds she raises, have been a huge help for many shelters in buying supplies and clothes for the dogs. Most of Jan’s knits end up going to Greyhounds as the cold weather is particularly felt by them due to their thin fur coats.
Kerry Elliman from the Birmingham Greyhounds Protection reveals that Jan’s help has truly made a difference at the shelter and in the lives of countless dogs. Elliman says that thanks to Jan’s contributions, the shelter has saved a lot of money that they need to spend on vet bills for the Greyhounds. Jan admits that despite knitting the sweaters for no pay, it is well worth it. She has spent over 4,000 hours knitting hats, and sweaters for abandoned greyhounds but she wouldn’t trade it for the world. Jan says she loves seeing the homeless dogs all dressed up and cozy in her knits. You can purchase the homemade knitted goods from Jan’s website Knitted With Love.


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In this article, we discuss some growth stocks with long-term potential. If you want to read about some more stocks with explosive growth potential, go directly to 5 Growth Stocks with Upside Potential.
We prepared the actual contents of this article back in April this year. At that time, we had picked ten stocks with long-term growth potential. Our stock research was based on fundamentals, analyst ratings and hedge fund sentiment. We are publishing this article today to let our readers see whether the Wall Street analysts and the smart money were right or wrong about these stocks.
You will notice that some stocks in this article gained as much as 50% over the past six months, while others went into a free fall. However, when we wrote the article back in April, we had a long-term time window in mind (about 5 years). While most of the stocks in this list kept losing value over the past few months, the bull cases for many of these companies still hold as of today (November 25). We should also keep in mind that most of the growth stocks in the market got crushed this year amid rising interest rates and a broader rotation towards value stocks. When the market begins to turn the corner in 2023 or 2024, many of these stocks could rebound and reward their investors for the patience.
For each stock we have mentioned its performance in terms of percentage over the past six months as of November 25. While these stocks have been battered in 2022, many analysts and hedge funds still see value in them and believe they can rebound in the near future.
Now, let's start our article which we wrote back in April and see what market experts were predicting at that time.
On April 28, the United States Department of Commerce revealed that the US economy had shrunk by an annual rate of 1.4% during the first quarter of 2022, marking a sharp reversal from the nearly 7% annual growth rate registered during the fourth quarter of 2021. This also represented the weakest growth rate since the pandemic panic of early 2020. Some of the reasons for the slower growth included supply chain disruptions, a widening trade deficit, and a slower pace of inventory investment by businesses.
Even though inventory investments fell, the total business spending during the first quarter increased by more than 9%. Consumer spending also continued to grow at a rate of nearly 3%. These figures indicate that the growth patterns seen towards the end of last year will resume soon as inflation peaks. Growth stocks, like Amazon.com, Inc. (NASDAQ:AMZN) Alphabet Inc. (NASDAQ:GOOG), and Microsoft Corporation (NASDAQ:MSFT), have been given a boost by these numbers as well.
For those who cannot afford to invest in these tech giants due to their higher share price, there are several growth firms that have strong catalysts for growth and are trading at a discount in the current market environment. Market experts also predict that the US economy can register modest growth in the second quarter despite a rate increase. Diane Swonk, the chief economist at accounting firm Grant Thornton, told The Wall Street Journal on April 28 that the domestic economy of the US “remained resilient” but was not a “fairytale economy”.
10. Sundial Growers Inc. (NASDAQ:SNDL)
Number of Hedge Fund Holders: 8
Stock performance over the past six months through November 25: -31%
Sundial Growers Inc. (NASDAQ:SNDL) produces and sells cannabis products. On April 1, the US House of Representatives cleared the marijuana legalization bill. The bill, known as the MORE Act, was cleared by 220 votes in favor after an hour of debate. If approved by the Senate, the Act will remove cannabis from the list of federally controlled substances. Democrats hold a small majority in the Senate, brightening the prospects of the bill being passed and leading to a rally in the share price of cannabis firms. Growing consolidation within the industry is also likely to act as a growth catalyst for the stock.
Sundial Growers Inc. (NASDAQ:SNDL) posted earnings for the fourth quarter of 2021 on April 28, reporting a revenue of more than C$22 million, up close to 63% compared to the revenue over the same period last year.
At the end of the fourth quarter of 2021, 8 hedge funds in the database of Insider Monkey held stakes worth $10 million in Sundial Growers Inc. (NASDAQ:SNDL), compared to 7 the preceding quarter worth $8 million.
9. Innovative Industrial Properties, Inc. (NYSE:IIPR)
Number of Hedge Fund Holders: 13
Stock performance over the past six months through November 25: -7%
Innovative Industrial Properties, Inc. (NYSE:IIPR) is a real estate investment trust focused on investments in medical-use cannabis facilities. On April 28, the company announced that it had entered into an amended lease agreement with PharmaCann, a national cannabis brand, that will free up $45 million in funding. The funding will be used for the development of an industrial building for cultivation. The firm has also been growing dividend payments for the past four years consecutively, attesting to the solidity of their business model in a growth sector.
In early January, Piper Sandler analyst Alexander Goldfarb kept an Overweight rating on Innovative Industrial Properties, Inc. (NYSE:IIPR) stock with a price target of $285, identifying new investments and cannabis legalization as some of the growth catalysts for the industry.
At the end of the fourth quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $273 million in Innovative Industrial Properties, Inc. (NYSE:IIPR), up from 12 in the preceding quarter worth $265 million.
8. Inari Medical, Inc. (NASDAQ:NARI)
Number of Hedge Fund Holders: 16
Stock performance over the past six months through November 25: +21%
Inari Medical, Inc. (NASDAQ:NARI) makes and sells devices for the interventional treatment of venous diseases. The company debuted on the market only a few years ago and has made rapid progress since. For example, it only had sales of around $7 million in 2018. This figure rose to $51 million in 2019, $139 million in 2020, and over $276 million in 2021. One of the premier products of the firm is a catheter-based thrombectomy device that has seen a lot of commercial interest as it is more effective than drugs and other therapies for clot-removal.
On March 23, Bank of America analyst Travis Steed initiated coverage of Inari Medical, Inc. (NASDAQ:NARI) stock with a Buy rating and a price target of $105, noting that the firm had pioneered use of minimally invasive products to remove large blood clots from veins.
Among the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm Point72 Asset Management is a leading shareholder in Inari Medical, Inc. (NASDAQ:NARI) with 447,500 shares worth more than $40 million.
In its Q2 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Inari Medical, Inc. (NASDAQ:NARI) was one of them. Here is what the fund said:
“Inari Medical, Inc. (NASDAQ:NARI) offers catheter-based devices to remove clots from venous thromboembolism (“VTE”), the third most common vascular condition in the U.S. after heart attacks and strokes, and which can be fatal if left untreated. Shares declined during the quarter as high-growth companies with high valuations sold off. We maintain conviction, as the VTE treatment space is still in the very early days of converting to device-based interventions, and we believe Inari is well positioned to benefit.”
7. Upstart Holdings, Inc. (NASDAQ:UPST)
Number of Hedge Fund Holders: 20
Stock performance over the past six months through November 25: -54%
Upstart Holdings, Inc. (NASDAQ:UPST) owns and runs a cloud-based lending platform that uses artificial intelligence. In early March, the company launched a new mobile-first auto retail online platform for car dealers. According to the firm, the new platform will adapt to the mobile usage of customers and to give dealers more options to customize based on the data. The large car firms that support the auto retail initiatives of Upstart include Volkswagen, Toyota, Lexus, Subaru, and Kia. The company, which sold $4 billion worth of vehicles in 2021, has lots of opportunity to expand in this space.
On April 22, Citi analyst Peter Christiansen maintained a Buy rating on Upstart Holdings, Inc. (NASDAQ:UPST) stock but lowered the price target to $180 from $350, noting that the drawdown in the stock was “unjustified” and based on business model misconceptions.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Third Point is a leading shareholder in Upstart Holdings, Inc. (NASDAQ:UPST) with 12.4 million shares worth more than $3.9 billion.
“Upstart Holdings, Inc. (NASDAQ:UPST) was another material detractor during the quarter. Upstart is an artificial intelligence (AI) and cloud-based lending platform. Upstart uses over 1600 variables in its AI models. Its lending platform delivers lower default rates, higher approval rates, lower rates for consumers, and higher returns on investment for its bank and institutional clients. As former owners of FICO, we believe Upstart has the potential to be the FICO of the 21st century. Recent stock price volatility has given us an opportunity to follow our investment discipline. During the third quarter of 2021, Upstart’s stock price increased significantly, and we materially reduced our position in the company. Following its most recent earnings release, our value increased but Upstart’s stock price began to decline significantly. With a significantly improved price to value ratio, we added to our position in Upstart Holdings, Inc. (NASDAQ:UPST). We simply took advantage of stock price volatility to manage risk in the portfolio and improve our returns and our prospective returns.”
6. PubMatic, Inc. (NASDAQ:PUBM)
Number of Hedge Fund Holders: 20
Stock performance over the past six months through November 25: -20%
PubMatic, Inc. (NASDAQ:PUBM) provides cloud infrastructure for real-time programmatic advertising transactions. It is one of the few tech stocks that are debt-free and over 10% of the market cap of the firm is made up of cash. Even amid a broader lull around growth offerings in 2021, the firm managed an over 53% year-on-year increase in revenue during the period. It also guided for a 25% growth rate in 2022. The operating margins of the firm are also improving and reached 53% in the fourth quarter of 2021, up from 48% in 2020.
On March 16, RBC Capital analyst Matthew Swanson kept an Outperform rating on PubMatic, Inc. (NASDAQ:PUBM) stock with a price target of $38, noting that the market positioning of the firm was underappreciated and it had a long runway of profitable growth.
At the end of the fourth quarter of 2021, 20 hedge funds in the database of Insider Monkey held stakes worth $109 million in PubMatic, Inc. (NASDAQ:PUBM), up from 15 in the preceding quarter worth $33 million.
Along with Amazon.com, Inc. (NASDAQ:AMZN) Alphabet Inc. (NASDAQ:GOOG), and Microsoft Corporation (NASDAQ:MSFT), PubMatic, Inc. (NASDAQ:PUBM) is one of the growth stocks that hedge funds have on their radar.
Click to continue reading and see 5 Growth Stocks with Upside Potential.
Disclosure. None. 10 Growth Stocks with Upside Potential is originally published on Insider Monkey.


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UPDATED -- The health of the American economy was much stronger in the third quarter of the year than initially thought, according to the U.S. Commerce Department.
The gross domestic product increased at an annual rate of 3.9% compared to 3.5% reported a month earlier. Despite the uptick, this measure of the nation’s output of goods and services is down from the second quarter pace of a 4.6% increase, while this latest reading marks the strongest back-to-back quarterly performance since 2003.
The revised third quarter figure was better than many economists were forecasting.
“Hearty, positive revisions in nearly all key categories of growth, suggesting the economy was on firmer footing than originally expected at the start of the second half,” said Lindsey Piegza, chief economist with the investment firm Sterne Agee. “Still, with international growth expected to eat further in the U.S. external sector as we head to the end of the year, government spending likely to cool after a ramp up in end-of-the-fiscal-year defense spending, and a pullback in producer activity as consumers appear to be tightening purse strings particularly on goods spending, a stronger third quarter report may simply mean a further way to fall as we turn the corner into 2015.”
She said the U.S. Federal Reserve remains cautiously optimistic about the economy, with lingering and new barriers to growth still stunting official's desire to raise interest rates in the near term.
“At this point, while things appear to be pointing in the right direction…we still need further confirmation that the U.S. economy, including the labor market, is on strong enough footing before the Fed can think about raising rates,” Piegza said.
Consumer Confidence Declines
Also released Tuesday was The Conference Board Consumer Confidence Index, which declined in November following an October rebound.
The index now stands at 88.7, a five-month low, and down from 94.1 in October. The Present Situation Index declined from 94.4 to 91.3, while the Expectations Index decreased sharply to 87 from 93.8 in October.
“Consumer confidence retreated in November, primarily due to reduced optimism in the short-term outlook,” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers were somewhat less positive about current business conditions and the present state of the job market; moreover, their optimism in the short-term outlook in both areas has waned. However, income expectations were virtually unchanged and gas prices remain low, which should help boost holiday sales.”
Construction Starts Down
Meantime, a separate report released Monday shows the value of new construction starts in the U.S. settled back 4% in October according to Dodge Data & Analytics, formerly McGraw Hill Construction. The decline followed the 10% increase reported in September, which was the strongest month for total construction starts so far in 2014.
During the first ten months of 2014, total construction starts increased 5% from the same period a year ago.
The October statistics lowered the Dodge Index to 125 compared to a revised 129 for September. October's reading for the Dodge Index was the same as the 125 average for the third quarter and above the 117 average for this year's January-September period.
"Recent months have shown an up-and-down pattern for construction starts around what is still a rising trend," said Robert A. Murray, chief economist for Dodge Data & Analytics. "Nonresidential building is making a more substantial contribution this year to the construction expansion, notwithstanding its November decline. Various factors affecting activity for this sector continue to be positive.”
He noted this year's retreat by non-building construction has stayed measured, helped in the near term by the recent $10.8 billion “patch” to the Highway Trust Fund, although the month-to-month performance for non-building construction still reflects the swings shown by the volatile electric utility category.
“The continued growth for residential building in 2014 is being led by multifamily housing, featuring groundbreaking for numerous multifamily high-rises in major cities, while single family housing remains stalled for now,” said Murray.
Update adds consumer confidence report.


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R3: REQUIRED RETAIL READING
May 26, 2011
- In addition to the expected decline in toning sales contribution in Q1, both BWS and PSS noted that weaker than expected sandal sales impacted the quarter by 1%-2%. While the category typically accounts for ~15% and ~25% of sales at both BWS and PSS respectively in Q1, the current quarter is even more significant with sandals accounting for roughly 1/3 of total sales representing the category’s busiest season.
- The latest product introduction from RL is the return of denim with its Denim & Supply brand slated to launch this fall. Nearly four years after closing its Polo Jeans Co. business in the U.S., the company will be introducing the line at 250 better department stores in U.S. and Canada in addition to replacing the Polo brand in Europe and Asia.
- TIF printed a surprisingly good quarter. Perhaps the most notable points are 1) a 23% comp at the NY flagship and 2) though Japan was -3%, comps were up in Feb, and positive again in April.
OUR TAKE ON OVERNIGHT NEWS
Skechers Establishes Fitness Group - Skechers USA, Inc. has developed the Skechers Fitness Group sales force to support the company's increasing focus on technical athletic footwear. With this change, the company created two distinct sales organizations -- one to focus on its performance footwear and the other on its lifestyle footwear. In so doing, Skechers said it is capitalizing on its growing technical lines while utilizing the talents of its veteran team in order to better meet the needs of its accounts. "Since we began in 1992, lifestyle footwear has been at the core of our business and allowed us to grow from a small company to a globally recognized two billion-dollar brand," began Michael Greenberg, president of Skechers. "Over the last year, we have grown our offering of technical athletic footwear to encompass numerous cutting-edge running, training and walking shoes under our Resistance, Shape-ups and Tone-ups lines, transitioning from a pure lifestyle brand to a lifestyle and high-performance company. The changes in our sales organization reflect this natural evolution of our brand. With new technical product launching throughout this year and next, we felt it imperative to build an expert athletic sales force to more effectively sell and market our growing Skechers Fitness Group offering." <SportsOneSource>
Hedgeye Retail’s Take: This absolutely positively scares the heck out of us. SKX has a core competency – and that is being a ‘fast second.’ Specifically, they capture an established trend and run with it until it can’t run no more. But when they change the plan and the structure of the company to compete in the technical arena, then they compete with Nike, Adidas, Reebok, Under Armour, etc… Why SKX would choose to get into the Octagon with any of them is beyond me.
Prada IPO Valued at $15B - Prada is on its marks, as its initial public offering is expected to take place June 23 or 24, and reports on the company’s possible valuation are beginning to reach clients. Banca IMI-Intesa Sanpaolo Group, which owns 5.1 percent of Prada and is one of the banks leading the IPO, estimates Prada may be valued at 10.7 billion euros, or $15 billion at current exchange, according to a source. Intesa forecasts Prada’s net profits may rise to 381 million euros, or $536.3 million, in 2011 and to 503 million euros, or $708 million, in 2012. Intesa’s valuation is based on around 21 times Prada’s estimated 2012 profits. The Italian luxury firm had record profits and sales in 2010. In the year ended Jan. 31, the company reported a 150.4 percent surge in net profits to 250.8 million euros, or $331 million at average exchange. Revenues totaled 2.05 billion euros, or $2.71 billion, up 31.1 percent compared with the year before. Until recently, analysts have said the IPO could value the company at up to $9.5 billion.
Hedgeye Retail’s Take: Let me get this straight…Wall Street has thought it was worth $9.5bn, but now the banker – who is also part owner of the company – is saying that the Street’s valuation is 50% too low?
Ackman Buys ‘Passive’ Family Dollar Stake - Bill Ackman, the founder of Pershing Square Capital Management known for investing in companies to press for changes, said he invested in Family Dollar Stores Inc. (FDO) because it’s “very reasonably priced” and may be acquired. Ackman, speaking today at the Ira Sohn Conference in New York, said it’s a “passive” stake, meaning he’s not going to pressure management. “It’s a good business, it’s done very well for a long time,” he said. “It’s an attractive LBO transaction,” he added, using the abbreviation for leveraged buyouts. Family Dollar, a discount retailer based in Matthews, North Carolina, has advanced 10 percent to $54.82 in 2011 after more than doubling during the prior three years. The stock climbed 2.5 percent to $56.19 at 5:15 p.m. New York time in after-hours trading following Ackman’s announcement. It rejected a takeover offer from Nelson Peltz’s Trian Fund Management LP in March, saying it “substantially” undervalues its business, and adopted a defense to discourage unsolicited offers. <Bloomberg>
Hedgeye Retail’s Take: FDO is a well run business. But the only way it is ‘substantially undervalued’ is if an activist goes in and pressures management to make the wrong decisions to boost near term results and borrow from the future.
Express to Unveil New Prototype - Express will unveil a Japanese-designed store prototype next month with industrial fixtures, a larger footprint, a dual gender “denim lab” and a runway down the center to merchandise key products. “The best of what we know and have learned over many years has been put into this new store design concept,” said Michael Weiss, president and chief executive officer of the 600-unit chain, who described the prototype as “modern, sophisticated and engaging.…We look forward to measuring the impact it has on our business in two markets.” The prototypes are 13,000 square feet, with 10,500 for selling.
Hedgeye Retail’s Take: I know this is way too cynical and one sided… But the concept was a perennial problem-child in the US. So it goes to Europe, triples the footprint, and takes up store level G&A with a fully functioning catwalk? They’d darn well better find the right consumer.
Hilfiger Men's Set for The Bay in Canada - The Tommy Hilfiger Group, wholly owned by Phillips-Van Heusen Corp., has a new distribution strategy to tackle the Canadian market. The firm has signed a deal to offer Hilfiger men’s wear exclusively in 90 The Bay stores across Canada, beginning in August. The launch of Hilfiger’s men’s sportswear at The Bay signals the brand’s reentry into the wholesale distribution channel after a few years of a retail-only business model in Canada. Hilfiger will invest in the development of fixtured shop-in-shop environments in key doors. In August, 66 locations, including The Bay’s flagships in downtown Toronto, downtown Montreal and Vancouver, will open Hilfiger shops, followed by 24 more throughout the fall. The average Hilfiger men’s wear shop will be about 500 square feet, but will measure 750 square feet in the Toronto, Montreal and Vancouver flagships. <WWD>
Hedgeye Retail’s Take: One of the many opportunities Manny has in his bag of tricks to grow this brand. Damaged in the US, it was always strong in Europe. But Tommy Canada makes perfect sense growing it from a small base.
Iconix Brand Group Said Close to Deal for JA Apparel - JA Apparel Corp., the owner of the Joseph Abboud and Joe by Joseph Abboud brands, is said to be close to inking a deal with Iconix Brand Group. A deal, although imminent, could still fall apart, financial sources said. Terms of the transaction were not immediately available, but sources said it could be valued in the $90 million range, lower than the $100 million-plus price tag that JA’s principal owners, private equity firm J.W. Childs Associates, had been seeking. J.W. Childs, which formed JA Apparel to acquire the trademarks in 2004 for $73 million, less debt, put the operation up for sale in 2006, then took it off the market for a time when it couldn’t find a buyer.
Hedgeye Retail’s Take: Icon continues to crank this business model – albeit via acquisitions. Abboud has come a long way since establishing himself as the head of men’s wear at Ralph Lauren in the 1980s. Though JA Apparel still owns the right to his name, Mr. Abboud is completely removed from the operation. He currently runs his own line called Jaz.
Ray-Ban Opens Online Store to go After Chinese Consumers - Eyewear manufacturer Ray-Ban has opened an online store in China in order to tap into the Chinese luxury goods market. As a subsidiary of Luxottica Group, the company has created the new e-store on Taobao Mall – the largest online retail website in China to sell goods tailored exclusively to the market such as Ray-Ban Asian Fit and Asian Design alongside with its established product lines. Sara Beneventi, global brand director of Ray-Ban, said: "In the future we will continue to build upon our brand awareness in China by leveraging Taobao's 370 million-plus consumer community." <FashionNetAsia>
Hedgeye Retail’s Take: This is kind of ironic given that all the knock-off sunglasses you find in the US and Europe originate in China. That said, the emerging Chinese middle class does not want a knock off, they want the real deal. This looks like a great move for Ray Ban.
Chinese Sieze Counterfeit Teva Sandals - Deckers Outdoor Corp. confirmed that customs officials in Ximaen, China siezed 36,720 pairs of counterfeit Teva sport sandals with a value of RMB 216,100 ($33,280). Xiamen Customs contacted its trademark owner Deckers Outdoor Corporation, immediately after the consignor of this batch failed to provide its authorization letter. Deckers Outdoor confirmed the infringement in a letter dated May 16 and applied for customs protection to detain the batch of fake Teva sport sandals, according to Xiamen Customs. A day later, an additional 36,000 pairs were seized at customers. Both shipments were en route to Ghana, which has become a major transit destination for counterfeit goods, according to a spokesman for Deckers Outdoor contacted by The B.O.S.S. Report. <SportsOneSource>
Hedgeye Retail’s Take: 2 containers with about 72,000 pair of sandals seized. It kind of makes you wonder how many knock-off containers there really were?


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Philipp Lenssen of Google Blogoscoped fame has a new parody site online today called Spam Google. The site’s slogan is, “Just the Noise.” If you click the “Our Technology” link on the Spam Google homepage you’ll see that Spam Google utilizes Google’s well-known pigeon rank technology. (-:
Lenssen writes on his blog:
At the new SpamGoogle.com, you?ll find nothing but… spam! If you?re also tired of web pages not trying to sell you something, endless explanatory stuff from university servers, or blogs without Google ads, this is for you. You can learn the latest about cheap viagra, poker parties, or download just the spyware you need...Best of all, sites in the Spam Google index try to rip you off by being relevant to your search. And isn?t that what Google is all about, relevancy?
Those are some very tough and critical words from Phillip towards Google but it goes without saying that spam is not only an issue for Gogole but one for all general-purpose web engines. They also say something about the commercialization of the web in general.
Back in April, Lenssen unveiled another Google site, Google April Fools.
Postscript: For the techies out there, Phillip shared the following with me about how Spam Google works:
Internally, Spam Google makes use of the Google API along with PHP5. For every user query, only a certain subset of “spam” sites is being searched through. In other words, what you see on the SERPs is a sub-set of Google results… and a noisy one at that. Also, there’s some easter-eggs hidden in the application, some making use of the Yahoo API.


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Apple is reportedly planning to sell iPhone models without a SIM slot by September 2022, according to MacRumors. This comes after a recent report from a Brazilian website that said that Apple will remove the physical SIM card slot from the iPhone 15 Pro models in 2023.
However, the new report says that the Apple has advised major U.S. carriers to prepare for the launch of eSIM-only smartphones by September 2022. This adds that Apple will start the transition from some iPhone 13 models sold from second quarter of 2022.
With the iPhone XS series and iPhone XR, Apple started offering Dual SIM card support worldwide since they have a primary nano SIM and secondary eSIM support working with carriers. The iOS 12.1 brought support for Dual SIM and eSIM functionality.
If Apple removes a SIM slot, then it is not clear what will happen to the dual SIM option that it is offering in some countries. According to the report, Apple might remove the physical SIM card slot starting with some iPhone 14 models, but it is still not confirmed yet.


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Blizzard loses another key employee. Caleb Arseneaux, Diablo Immortal’s Production Director, has announced that he will be leaving the company. And that just before the game appears.
Who is the lead producer? Caleb Arseneaux has been with Blizzard since August 2018, just over 3 years. He came into the industry as a developer of the indie game Scribblenauts and then to Blizzard via Disney.
Most recently, as lead producer, he was responsible for the development of the mobile game Diablo Immortal, which is currently being created in collaboration with NetEase. On linked.in, Arseneaux announced that it was now his “last week” at Blizzard.
Blizzard loses important employees: Arseneaux is leaving the company shortly after Jen Oneal, the former co-boss of Blizzard. This announced in early November that it was leaving Blizzard.
Oneal, along with Mike Ybarra, were the new leadership duo of Blizzard after the resignation of J. Allen Brack. She left the company after just 3 months in her new job.
The Game Director of Diablo Immortal, Wyatt Cheng, remains according to current information, but still with Blizzard and continues to work on the game. So at least one of the pillars for the development is still there.
Diablo Immortal in closed beta, release 2022
How’s Diablo Immortal? At the moment Diablo Immortal is in the closed beta, which should run for 3 months since October 29th. However, only selected players from Canada and Australia as well as the press, and later also from Asia, can take part.
In the beta, the Necromancer will be available to test as a new class, as well as new PvP modes and some improved features. Controller support is now also in the game.
Although Immortal caused a lot of displeasure among fans of the franchise at the announcement, the mobile ARPG is now quite well received. The first testers say: Immortal plays like Diablo 3, only better.
The development will probably continue as before. Arseneaux describes the team as “passionate” and “talented”. However, it is currently difficult to say how much his departure will affect production.
At the moment it’s mainly up to the beta testers to provide feedback and the developers to implement it. Some of the experts and streamers have already addressed issues such as long waiting times that need to be resolved before the release.
When does the game come out? The release of the ARPG is planned for 2022 on Android and iOS. A PC version is not planned at the moment, but the game can be played via emulators such as BlueStacks.


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In a key development following the arrival of its new owners, Clarks has unveiled a new campaign for its Clarks Originals brand that includes content and a collab, all designed to celebrate black female creatives.
The international sportswear giant has outlined its progress with issues of sustainability, corporate responsibility and diversity in its 2020 Impact Report and revealed new goals for these areas for 2025.
A study in contrasts on Saturday morning at Milan Fashion Week, as two key fashion marques played against their reputations. Giorgio Armani showing evening ideas but as daywear, Sportmax revolutionizing its DNA.
Dior released the lookbook and video of its Pre-Fall 2021 collection on Monday and these are definitely not clothes for blushing violets. Clearly Dior expects the good times to roll by in the second half of 2021.


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It turns out that augmented and virtual reality can do much more than just give us a realistic, first-person perspective for blasting space mutants. It can also help us with home improvement. Lowe’s has debuted a new “Holoroom How-To” section for its stores, which lets customers use headsets to practice basic home improvement, like bathroom tiling, without getting their hands dirty.
A number of different companies are beginning to leverage virtual and augmented reality technology to improve the service they offer customers. Lowe’s was one of the first, having announced its intention to use the technologies in 2016, but it’s now bringing those developments to stores around the country.
Its first innovation is a Google Tango-powered navigation app for its stores. Visitors to stores can borrow a Lenovo Phab 2 and use it to find their way to various sections, as well as learn more about the products when they get there.
On the virtual side of the reality-bending spectrum, Lowe’s is also leveraging the HTC Vive VR headset to give shoppers trial runs at certain home improvements they can do themselves. According to Engadget, for instance, customers are given the chance to learn how to tile a bathroom without all the mess and costs involved in giving it a try.
The tutorial takes them through mixing the mortar, laying the pattern and cleaning up after the job — all with step-by-step instructions to help them through the process. According to the store’s own surveying, we’re told that those who practiced the tiling steps inside virtual reality had a 36 percent greater recall of the steps involved, than someone who merely watched a YouTube video of the same process.
Holoroom is currently installed in the Lowe’s outlet in Framingham, Massachusetts, but considering its success so far, it seems likely that the chain will expand its usage to elsewhere around the country, too. It also has plans for Canadian demonstrations of the technology in Burlington, Ontario, and Beloeil, Quebec.
Are there any do-it-yourself tasks that you would like to try out in VR before having a go at the real thing?
- Mozilla announces Firefox Reality, a browser for augmented and virtual reality
- Apple AR glasses: News and rumors about ‘Project Mirrorshades’
- Escape reality with the best augmented reality apps for Android and iOS
- Asus joins the Windows Mixed Reality party with its own official headset
- HTC Vive Pro cameras can be used to track hands, controllers