text: The head of the world’s greatest airline company trade body states guest traffic is recuperating quicker than anticipated and forecasts that, typically, the market might now see it go back to pre-pandemic levels in 2023, a year previously than previous forecasts. The reducing of COVID-19-related constraints around the globe has actually launched need pent up over the last 2 years when federal governments shut their borders, causing a dive in flights. International Air Transportation Association( IATA)Director General Willie Walsh informed Reuters on Monday the near-term outlook stayed favorable even as the air travel market deals with brand-new headwinds such as high oil rates, inflation and labor force shortages. We’re seeing really strong reservations. Definitely all the airline company CEOs that I’m speaking with are seeing not simply great need for near-end travel, however they continue to see need as they checked out the year, he stated at a conference in Riyadh. Many areas are anticipated to carry out much better this year, though Walsh warned that he did not anticipate a fast healing in Asia-Pacific, pointing out limitations in China as it pursues a zero-COVID policy. But he stated that total, provided the present sped up choice up in guest traffic, the market might reach pre-pandemic traveler figures next year, assisted by a strong Northern Hemisphere summer season in 2023. I do not believe we must be sidetracked from the reality that we are seeing a strong healing and I believe that healing will collect momentum as we go through the rest of this year into 2023. Wizz Air President Jozsef Varadi individually informed Reuters he was relatively positive his European affordable airline company would see an excellent summertime of reservations, though he stated he was worried about supply chain disturbances like airport staffing shortages. I believe you will have a great deal of consumers, however you will have a great deal of supply chain concerns and you will have a great deal of expense concerns. So it’s going to be an extremely fascinating type of mix. Reuters Business Instruction newsletter provides significant stories, special protection and specialist viewpoint.


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THE WHAT? Unilever contends that its second quarter and first-half results prove that its strategic choices, known collectively as Unilever Compass, are paying dividends.
THE DETAILS The UK-based FMCG manufacturer reported progress against each metric in a statement posted on its website, revealing that its most purposeful brands, Rexona among them, were among those which posted the strongest growth. Meanwhile, Unilever is continuing its mission to evolve its portfolio into high-growth spaces, with the Prestige Beauty and Health & Wellness units reporting double-digit growth (14 percent and 28 percent respectively).
In terms of its goal to accelerate growth in US, India, China and key growth markets, the results were mixed, with China’s strict lockdown hitting sales there despite a solid performance in the US and impressive growth in India. Meanwhile, e-commerce is rapidly becoming a key channel, now accounting for 14 percent of turnover and growing 25 percent this year.
Last, the company’s new Business Groups, part and parcel of its drive to simplify the organisation and improve agility, are now in place and fully responsible for their portfolios.
THE WHY? CEO Alan Jope, commented, “This major change to Unilever’s operating model is an important further step that will underpin the delivery of consistent growth, which remains our first priority.”

domain: news


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Taiwan Semiconductor Manufacturing Corporation (TSMC) stated on Tuesday that it will increase its planned investment in its Arizona factory in the United States from $10 billion to $40 billion. Vice President Joe Biden praised the initiative, which has become one of the biggest foreign investments in US history, after touring the TSMC factory in Arizona.
TSMC’s original $10 billion investment in the Arizona facility in the United States will be increased to $30 billion. By 2026, they also want to launch a second manufacturing facility.
Biden made his remarks in front of an American flag and a huge banner stating “A Future Made in America Phoenix, AZ” at a brand new plant.
In light of the supply chain problems that plagued the American economy early in Biden’s administration, the increased investment is a huge victory. By the year’s end of 2026, TSMC hopes to have opened a second factory, a manufacturing facility to make 3-nanometer chips.
When the two planned semiconductor fabrication sites are operational, TSMC chairman Mark Liu predicts yearly revenue of $10 billion, with customers realising annual sales of $40 billion from items employing chips created there.
Apple, NVIDIA, and AMD, three of TSMC’s biggest clients, all say they aim to get most of their future chips from TSMC’s American facilities.
Meanwhile, Apple has said that moving ahead, they would only use chips produced at a TSMC factory in the United States. Apple CEO Tim Cook made a statement during the ceremony, saying, “We cooperate with TSMC to build the semiconductors that help power our devices throughout the world.” We hope to do much more of this in the years to ahead as TSMC establishes itself more firmly in the United States.
After supply chain disruptions brought on by the pandemic led to shortages of chips for autos and other products, Vice President Biden has worked to increase semiconductor output.
The United States now only produces 12% of the world’s semiconductors, down from 37% twenty years ago.
In light of China’s increased military effort to enforce its sovereignty claims, fears of over-reliance on Taiwan have arisen due to the island’s preeminent position as a producer of chips used in technology ranging from cellphones and vehicles to fighter planes.
Subtly charming pop culture geek. Amateur analyst. Freelance tv buff. Coffee lover


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A small dose of good news for small business in WA today, with a payroll tax rebate reportedly to be announced by the Barnett government this afternoon.
According to this story today by the ABC, the WA government will announce a payroll tax rebate of “up to $41,250” when the state budget is announced at 2pm.
The rebate will reportedly apply to businesses with up to $1.5 million in payrolls for the 2012-13 financial year. We recommend you read the ABC's story in full here.
In WA, your business must have annual wages of more than $750,000 or more than $62,500 a month before payroll tax apples. The tax rate is 5.5%. It includes payments to contractors. There are some exemptions, for example school sand charities.
The rebate will provide some relief, amid complaints that small businesses are finding it hard to borrow from major banks – something Federal Minister for Small Business Brendan O’Connor said yesterday that he was hearing.


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In letter to Congress, Google defends privacy changes
- 01 February, 2012 05:03
In a letter sent to eight members of Congress, Google yesterday defended its move to consolidate its privacy policies and users' personal information.
The 13-page letter explains Google's decision to alter its privacy policies and answers specific questions from the legislators. In sum, Google contended that its approach to privacy has not changed, that users still have control over how they use the company's various online services, and that private information remains private.
Google stirred up something of a privacy firestorm last week when company executives disclosed plans to rewrite privacy policies and to meld user information across its various products and services.
Google has been combining users' information from different services, like Gmail and Calendar, for a while, but company is expanding that effort to encompass user information across all products and services.
Privacy advocates and some users were particularly concerned because Google didn't seem to offer users an opt-out option. Instead, the company said if users didn't like their data being combined across services, they could simply stop using them.
Google also took on that complaint in the letter to Congress.
Chavez also wrote that private user information will remain private -- it will not be given to third parties, he added.
And Chavez also noted that Google will not be collecting more information on users than it was before.
He went on to say Google's moves aim to simplify what had become a "wide range" of privacy policies as well as "improve the user experience."
For instance, he said sharing information across services would allow a user to send friends directions in Google+ Circles without leaving Google Maps. And if a user is searching for a recipe, he or she would get cooking video recommendations when visiting YouTube.
Sharon Gaudin covers the Internet and Web 2.0, emerging technologies, and desktop and laptop chips for Computerworld. Follow Sharon on Twitter at @sgaudin , or subscribe to Sharon's RSS feed . Her e-mail address is firstname.lastname@example.org .
Read more about privacy in Computerworld's Privacy Topic Center.


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Inditex H1 net rises as sales close to pre-pandemic levels
MADRID, Sept 15 (Reuters) - The owner of fashion brand Zara, Inditex ITX.MC, said on Wednesday it booked a 1.27 billion euros profit in the first half of the year as sales approached pre-pandemic levels on higher global demand for fashion apparel.
The first semester net profit was higher than the 195 million loss the fashion giant registered in the same period in 2020 but still 17.5% lower than in 2019.
The Spanish retailer's sales were close to pre-pandemic levels as most stores reopened and people longed to renew their wardrobe after closures imposed to curb the pandemic.
(Reporting by Corina Pons, editing by Inti Landauro)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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Updated with investment figure.
Russian e-commerce company KupiVIP Holding has announced that it has raised new funding from central European private equity group, MCI Management.
The company operates highly popular shopping club KupiVIP and a luxury version called KupiLuxe, as well as a range of other fashion-focused e-commerce brands in Russia, such as ShopTime.ru, shop.quiksilver.ru, mexx-shop.ru and shop.tsum.ru.
No amount has been disclosed for the new funding (although we’ll update here if we obtain the figure) UPDATE: MCI’s website reports the investment as totalling €12m ($15.5m). but it follows on from a $38m round in June this year, which was led by Intel Capital.
KupiVIP, which was founded in 2008, says that the new funds will be used to develop its order fulfillment process further, and to support the launch of new websites. This places the company in a position to further extend its Russian lead in the shopping clubs sector, which is quickly gaining traction around the world.
Image credit: Giuseppe Cacace/ Getty Images


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A new Chick-Fil-A location will open up next week in Brick, the company announced Wednesday morning.
The new location, at 522 Route 70, will officially open June 26 with a promotion to give away free food for a year to the first 100 customers who show up at the restaurant.
"Chick-fil-A’s most passionate customers arrive more than
24 hours in advance of a grand opening, packing tents, lawn chairs,
computers, TVs, couches and all kinds of gear to make their wait more
comfortable and entertaining," said Cindy Chapman, a company spokesperson.
The restaurant will provide security, entertainment, games and food to those waiting.
The restaurant will open at 6 a.m. with the first 100 people receiving a gift card loaded with 52 free meals – one per week for a year – a total of $30,000 in free food when all the cards are counted. Participants in the contest must be 18 years or older and have identification, the company said.
The Brick location, the company said, features the restaurant chain's latest interior design and space for 136 diners at a time. The location also features outdoor seating and a playground area for children, plus two drive-through ordering screens so two cars can order food at once.
The Brick location will be open Monday through Saturday from 6:30 a.m. to 10 p.m., serving a full breakfast menu until 10:30 a.m.
The restaurant, known for its fresh chicken sandwiches, has 1,822 locations in 39 states and has been in business since 1967, when its first location opened up in a mall in Atlantic, Ga.


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Ten things we can learn from the corona crisis
We are currently experiencing very hard times. In the matter of no time, corona (COVID-19) has overwhelmed the world and drastically impacted the lives of billions of us. Whilst we tackle the disease, let’s use this opportunity to see what we, the greater society, can learn from this struggle.
FridaysForFuture Russia: Our interview with Arshak Makichyan
In the light of the upcoming international climate strike on 20 and 27 September, we want to show solidarity to the young people striking worldwide. With this in mind, we reached out to Arshak Makichyan from Russia to hear how he started his climate strikes in Russia
FridaysForFuture Uganda’dan Nakabuye Hilda’yla ropörtaj
Fridays For Future Uganda interview: We want to show solidarity to the young people striking worldwide. With this in mind, we reached out to Nakabuye Hilda Flavia from Uganda to hear her story.
Finlandiyalı Sürdürülebilir Moda Lideri Globe Hope, EKOenerji kullanıyor
Globe Hope was one of the first consumers of EKOenergy in the fashion industry, having been buying ecolabelled energy since 2013.
Uluslararası Biyoçeşitlilik Günü
22.05.2019: Today, 22nd of May is the International Day for Biodiversity. A simple solution to limit the negative impacts on biodiversity is to choose renewable energy that is produced with nature in mind.
EKOenerji moda ve tekstil kampanyası
EKOenergy announces the launch of their fashion campaign. We aim to get fashion companies to buy clean energy and become more environmentally sustainable.
Moda endüstrisi doğayı kirletiyor mu?
Why is pollution in the fashion industry such a major problem and how can using renewable energy help to make fashion more sustainable?
İtalya’da yenilenebilir enerji: EKOenerji ve ForGreen 3 yıllık partnerliklerini kutluyor
In 2016 ForGreen became the first italian electricity supplier to sell only EKOenergy. Since then this partnership has brought to many successes.
Japonya’nın yenilenebilir enerji piyasası
With the recent market liberalization, Japan’s energy market is transforming itself gradually, towards more renewables, Yet the schemes surrounding the renewable energy is complicated, and new changes are making thing even harder to understand. What is happening in Japan at the moment? 04.03.2019 Wataru Yamazaki Japan is among the biggest economies in GDP, and also […]
İklim eylemi yapan öğrencileri desteklemek için sebepler
3.03.2019 : 20 good reasons to support the school-striking youth. And to participate in their international day of climate action on 15 March.


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For those who have been crazy about cricket and also hold a fancy for cryptocurrency, there’s good news. The recently established Cricket Foundation (the first of its kind crypto ecosystem dedicated to the sport), co-founded by former cricketer Parthiv Patel along with Pruthvi Rao, provides fans a platform to have exclusive ownership of digital cricket memorabilia and collectibles, as both of them love to describe such items, through “cricketcrazy.io”, the world’s first cricket exclusive non-fungible tokens (NFT) marketplace.
They have also launched the world’s first cricket tokens which have now been listed on crypto exchanges across the country.
Speaking to NDTV, Parthiv Patel said that Cricket Foundation is an exclusive NFT marketplace, where cricket lovers would get a chance to actually own (though virtually) all the mementoes (for example the stumps’ bails taken by Mohinder Amarnath after India won the 1983 cricket World Cup finals against the West Indies) associated with memorable moments of the game.
The platform apart from allowing cricket lovers to exclusively own these digital collectibles, also allows the cricketers associated with it get a chance to monetise their digital assets, thus helping them supplement their income post-retirement from the game.
“Cricketers have a short shelf life and by the time one matures it is almost time to retire from the game. Therefore one should have a viable career option or a business to fall back upon after retirement. We can monetise our memorabilia through this platform, however it is not just about earning money but also about sharing our memorable moments with fans and giving them happiness,” Mr Patel said.
Mr Rao said that NFTs are an application which gives a chance to fans and even collectors of mementos to add digital collectibles to their collections.
“In a WhatsApp forward, what we normally forward to others is a copy of the actual file, however in the case of NFTs with the help of Blockchain technology, one can actually own the original file and this is the uniqueness of this platform,” Mr Rao said.


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SkyBridge Bitcoin Trust fund owner Anthony Scaramucci stated that the Bitcoin bubble might rupture yet not prior to giving huge revenues to individuals.
Will the Bitcoin bubble ruptured once again?
Previous White Residence Communications Supervisor and also owner of SkyBridge Bitcoin Depend On, Anthony Scaramucci stated that Bitcoin is unstable and also its bubble might rupture. Nonetheless, he is still hopeful regarding the more comprehensive crypto market and also stated that individuals can make a substantial quantity of money in this market. In a current meeting with CNN, he stated that Bitcoin approaches electronic gold and also is a brand-new means to keep funding. He likewise kept in mind that he was hesitant regarding Bitcoin and also various other electronic possessions previously yet has actually transformed his mind provided the mass fostering of electronic money.
He highlighted that crypto financial investments are except weak hands. Financiers acquiring electronic money should await the volatility out there. Scaramucci stated,
” This might be a blow-up leading bubble. We anticipate the fund to be unstable and also it might shed money.”
SkyBridge delves into Bitcoin
SkyBridge Funding introduced the SkyBridge Bitcoin Fund previously today. The fund is created to supply both retail and also institutional financiers a chance to obtain direct exposure to Bitcoin. The previous White Residence exec stated that Bitcoin is simpler to move and also limited, which is the reason they are investing in it. The company has a $310 million direct exposure in the premier cryptocurrency. It will certainly supply institutional degree custodianship to customers and also permit them Bitcoin direct exposure, without needing to hold the coins straight.
He defined that Bitcoin is still in its incipient phases yet has a number of institutional top quality custodial options offered. This is the correct time for financiers to assign their funding to the crypto room. SkyBridge Elder Companion and also co-chief financial investment police officer Ray Nolte stated Global money printing has actually gotten to all-time highs due to which Bitcoin becomes a solid option to gold. It can not simply supply a bush versus rising cost of living in the future yet can likewise keep worth.


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Japanese Restaurant Giant Rolls Out Robo-Cat Waiters
A robot brings customers their food.
Contactless dining served by robot waiters
Two thousand restaurants operated by Skylark Holdings, Japan's largest operator of family restaurants, will use robot cats to serve customers by the end of 2022, according to a Nikkei Shimbun report. The black and white robots, with a digital face display, can serve tables of up to four people and remove the dishes when customers have finished their meals. A trial found the robot waiters were able to cut the number of steps human staff took in half during peak times.
The robot waiters can ferry food for up to four people to a designated table, then bring dishes back once customers are done eating. #Japan's #Skylark rolls out robo-waiters for contactless dining https://t.co/A13uRRLrds— Nana Shibata (@NanaShibata_en) October 18, 2021
Overcome labour shortage issues
As Japan gradually eases restrictions on day-to-day life, the chronic shortage of workers in the catering industry has become a big issue and Skylark’s robot waiters are expected to help solve the puzzle, and at the same time, minimise human contact and reduce the risk of coronavirus transmission. US$380 million/JP¥43 billion was raised in funding by Skylark in June to implement these robot waiters.
In a time of social distancing, Japan's robotics market is witnessing a major boom. According to the Ministry of Economy, Trade and Industry (METI), the robot industry in Japan could be valued at as much as ¥10 trillion/US$90 billion by 2035.
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The World's Most Powerful Passports in 2021Henley & Partners have released its passport rankings for the fourth quarter of 2021.
Falstaff Restaurant of the WeekEach week, Falstaff highlights a restaurant somewhere on this globe, reviewed by one of our professional eaters.
A Las Vegas Restaurant Is Auctioning 11 Picasso MasterpiecesThe mega auction, which coincides with Picasso’s 140th birthday, will take place on October 23, 2021.
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Year-round gear rentals and catering at Porcupine Mountains Wilderness State Park
ONTONAGON, MICH. — Visitors to Porcupine Mountains Wilderness State Park will soon see new offerings added to park amenities.
After an extensive search to find a contractor to develop the Upper Peninsula Remote Park’s warm-weather recreation opportunities, the Michigan Department of Natural Resources partnered with Auburn Hills-based outdoor recreation company Simple Adventures. to offer new experiences to visitors.
According to the DNR, a few of these new services include year-round food at the Porcupine Mountains Ski Resort Lodge, shuttle service to select trailheads and the Lake of Clouds Scenic Overlook, guided kayaking and hiking excursions, and single and tandem rentals. kayaks, stand up paddle boards and mountain bikes.
Sea kayaks and stand-up paddleboards will be available for rent starting Memorial Day weekend, said John Pepin, MNR’s deputy public information officer. Holiday weekend visitors will also find an expanded menu at the Porkies Ski Resort, as well as new food items at the park store and gift shop.
Simple Adventures also operates concessions in Interlochen State Park near Traverse City and Fort Custer Recreation Area near Kalamazoo.
Pepin said Simple Adventures is currently updating its website; further details on Porkies rentals and reservations will soon be available on simpleadventures.net.
1,300 acres of pristine wilderness donated to Michigan State Park
Why Spring Is One Of The Best Times To Hike This Sleeping Bear Dunes Trail
This tiny butterfly is only found in one location in Michigan


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Apple’s iOS 15 has marketers everywhere worried about the future of email marketing success metrics. Users expect iOS 15, announced this summer, to include mail privacy protection that blocks senders from collecting data through pixels. In addition, the iOS 15 update will hide user IP addresses thus limiting a marketer’s ability to track users’ activity across the web.
In addition to iOS 15, Apple is introducing iCloud+, which replaces its current cloud storage plans while offering new privacy features such as Hide My Email that generates unique random email addresses that protect the user’s identity from marketers. Hide My Email prevents the needing your personal email address when signing up for newsletters or filling out forms on the web. There is also iCloud Private Relay, which encrypts traffic leaving your device with two internet relays to prevent third parties from tracking based on IP address and location.
Beyond those features, Apple Mail will offer Mail Privacy Protection that prevents senders from seeing when recipients opened an email, a change that will force digital marketers to update their KPIs. Instead of using open rates as a metric, marketers will need to focus on link clicks, website clicks, and sales. These metrics are more reliable for identifying conversions than open rates. Forcing marketers to move away from open rates will be a challenge for tracking but might be beneficial for the end-user.
iOS 14 was the beginning of Apple’s move away from third-party tracking, effectively ending intrusive “surveillance marketing,” where marketers collect information about user interactions with other brands.
To compensate for the loss of third-party tracking, marketers need to boost their ability to track first-party data. Websites store first-party cookies directly on the users’ device when they visit a website, while third-party cookies come from websites outside of the one you visit. For example, first-party cookies prevent the cart of an eCommerce website from resetting every time the user adds a new item. Without first-party cookies, users could not buy multiple items in a single transaction. Third-party cookies, on the other hand, track engagement with products across the web and continue tracking once the user leaves the brand’s website. For example, say you bought (or browsed for) tennis rackets. Third-party cookies tell marketers to send you emails and other ads for tennis rackets, knowing you were looking for them recently.
Restricting tracking forces marketers to diversify the platforms in which they advertise to reach people more directly. Rumor has it that Apple is pushing this change because they are building their own ad business. Time will tell…


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DICE plans to unveil their new Battlefield title on May 6th as a special “world premier” event. Come Friday, we will be able to see what awaits us for Battlefield’s next installment.
For those of whom are attending the event, Battlefield 5 is going to be revealed for them before the event begins its livestream. The livestream will start at 1pm PT/4pm ET/9pm BST. EA has launched an event countdown site leading up to the unveiling of “a first look at the future of Battlefront.”
Early reports of Battlefield 5 seem to suggest that the next game’s settings will return once again to the World War I era. As of this moment, the World War I setting is speculation and hearsay but the possibility certainly does exist.
“The future of Battlefield is coming up and you are invited to the world premiere,” it reads. “On May 6, we will reveal the next milestone in the Battlefield franchise. Come and meet our creative team at DICE.”
Back in October 2014, Gamespot helped bring to light that EA officially confirmed Battlefield 5 would arrive during the holiday time in 2016. Chief financial officer Blake Jorgensen when on further to say Battlefield 5 would follow behind Star Wars Battlefront, leading EA to have alternate first-person shooters in their core lineup.
“What we’ve said is that our intention over the next couple of years is to have a first-person shooter as one of the core titles,” he replied. “This year it’s Star Wars: Battlefront. Next year, it’s another Battlefield title.”
In addition, EA has big plans for the DLC of their previous Battlefield installments, which would be Battlefield 4 and Battlefield: Hardline. Over the course of the next few months, EA plans to give away previously released DLC content on all consoles/platforms for free. This means Xbox One, Xbox 360, Origin (PC), PlayStation 4, and PlayStation 3.
So from today to May 10th, players can download Battlefield 4’s Dragon’s Teeth expansion for absolutely free. This DLC contains four urban maps, a new game mode called Chain Link, new gadget called “The R.A.W.R” and a community mission to obtain 2.5 million melee kills for a gold battlepack.


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TAMPA, Fla., Oct. 6, 2021 /PRNewswire/ – Primo Water Corporation (NYSE: PRMW) (TSX: PRMW) (“Primo”), a leading provider of sustainable drinking water solutions in North America and Europe, today announced the appointment of Jeff Johnson as SVP Global Operational Excellence and Service Optimization, effective October 25, 2021.
“We are excited to welcome Jeff to the Primo team,” said Tom Harrington, Chief Executive Officer of Primo. “With a track record of success in the transportation and delivery service industry, Jeff’s expertise will strengthen our management team and help us drive network and asset optimization, service excellence, and end-to-end customer obsession. Jeff’s leadership and expertise will be leveraged to enhance margins and improve our return on invested capital and will provide valuable insight as we bring together a unified team to support our vision to become the leading brand in the pure-play water category.”
Mr. Johnson comes to Primo with 32 years of experience at United Parcel Service (UPS) where he held many roles of progressive responsibility, including President, US Industrial Engineering where he managed operational excellence, capacity planning and asset utilization. He led a team of over 1,900 members across the 1,100 U.S. locations. Previously, Mr. Johnson served as Regional Vice President of Industrial Engineering, leading all strategic/tactical operational planning for the U.S. East Region. In this role, he focused on business growth, cost containment, operational excellence, and process improvement initiatives from ideation to delivery. Mr. Johnson began his career with three years in the retail sector before beginning his tenure at UPS. At UPS, Mr. Johnson advanced in dynamic roles from Delivery Driver to District Director of Engineering, positioning him with a deep understanding of technical and operational functions.
ABOUT PRIMO WATER CORPORATION
Primo Water Corporation is a leading pure-play water solutions provider in North America, Europe and Israel and generates approximately $2.0 billion in annual revenue. Primo operates largely under a recurring razor/razorblade revenue model. The razor in Primo’s revenue model is its industry leading line-up of sleek and innovative water dispensers, which are sold through retailers and online at various price points. The dispensers help increase household penetration which drives recurring purchases of Primo’s razorblade offering. Primo’s razorblade offering is comprised of Water Direct, Water Exchange, and Water Refill. Through its Water Direct business, Primo delivers sustainable hydration solutions across its 22-country footprint direct to the customer’s door, whether at home or to businesses. Through its Water Exchange and Water Refill businesses, Primo offers pre-filled and reusable containers at over 13,000 locations and water refill units at approximately 22,000 locations, respectively. Primo also offers water filtration units across its 22-country footprint representing a top five position.
Primo’s water solutions expand consumer access to purified, spring, and mineral water to promote a healthier, more sustainable lifestyle while simultaneously reducing plastic waste and pollution. Primo is committed to its water stewardship standards and is proud to partner with the International Bottled Water Association (IBWA) in North America as well as with Watercoolers Europe (WE), which ensure strict adherence to safety, quality, sanitation and regulatory standards for the benefit of consumer protection.
Primo is headquartered in Tampa, Florida (USA). For more information, visit www.primowatercorp.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/primo-water-corporation-announces-appointment-of-jeff-johnson-as-svp-global-operational-excellence-and-service-optimization-301394574.html
SOURCE Primo Water Corporation


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Friday, 14 July 2017
KUALA LUMPUR: Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is on track to achieve its sales target of 202,000 units this year despite the continuous challenging economic environment, said president/CEO Datuk Dr Aminar Rashid Salleh.
The carmaker sold 99,700 vehicles in the first half of 2017 (1H17), up 2.4%, compared with 97,400 units sold in 1H16. Perodua sold a total of 207,100 vehicles last year.
“The Perodua Axia model is our best-selling model so far this year. We are cautiously optimistic of achieving our initial sales target of 202,000 for 2017,” he told a press conference on Perodua’s 1H17 Performance here today.
Based on Perodua’s internal estimation, Aminar Rashid said the total industry volume (TIV) for 1H17 improved 2.3% to 284,200 vehicles compared with 275,500 vehicles recorded in 1H16.
The car marker’s current market share stood at around 35.1%.
He said sales momentum in 1H17 was good as all Perodua models were number one in their respective segments, with 32,00 units of the Axia model sold followed by Bezza (28,300 units), Myvi (24,000 units) and Alza (14,700 units).
Aminar Rashid said the increase in sales was due to aggressive campaigns initiated by automotive players which included the introduction of new models and clearing 2016 stocks by offering attractive discounts and trade-ins.
“Despite the improvement in sales, tighter loan guideline is still our greatest challenge to overcome as most of our customers are first-time buyers,” he said.
On its after-sales-service, he said Perodua saw 1.02 million vehicles patronised its service centre in 1H17, an increase of 1.2% from 1.01 million units serviced in 1H16.
He added that Perodua had exported 1,854 vehicles to 6 countries in 1H17. “The recent introduction of the Bezza model in Mauritius and Sri Lanka has been well received, and we have respectively sold 8 units and 79 units in both countries,” Aminar Rashid said.
He added that Perodua produced 96,600 vehicles in 1H17 and expected to produce 197,000 units by year-end.
Source by: Internet


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Read up on the Neverwinter update 10.57 patch notes from Cryptic Studios.
Search Results for ps4
Bandai Namco has announced that Dragon Ball: The Breakers will launch on PS5 and PS4 this coming October, and a closed beta test is set to begin soon.
ATLUS has confirmed that there won’t be an option to upgrade from your PS4 copy of Persona 5: Royal to your PS5 copy, you’ll have to buy the game again.
An eye-opening and breezy dark adventure that with a eye-opening retro aesthetic, read our Mothmen 1966 PS4 review to see why we’re taken with this hidden indie gem.
The No More Heroes 3 release date has been announced for PS4 & PS5.
South Of The Circle, the critically acclaimed Apple Arcade game will be coming to PS5 and PS4 this coming August, check out the details here.
Century: Age Of Ashes has been delayed to an undefined release date of “Summer 2022”, publisher and developer Playwing has announced.
Inscryption has been given a release date for its PlayStation debut, coming later this August. Check out all the details here.
Get the lowdown on Kona II: Brume for PS4 & PS5, which is coming out in 2023.
The Inscryption release date has been announced for PS4 & PS5 via the PlayStation Store.


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Cisco, VOIP Duo Settle Suit
Net2Phone and ADIR announce settlement resolves all litigation between the companies.Two voice-over-IP vendors suing Cisco Systems Inc. over a potential partnership gone sour have settled their lawsuit against the networking equipment maker. Net2Phone Inc., a provider of VOIP services, and ADIR Technologies Inc, a maker of VOIP software, announced on Wednesday that the settlement resolves all litigation between the companies. Terms of the settlement were not disclosed because of a confidentiality agreement. The two companies had sued Cisco in U.S. District Court in New Jersey in March seeking compensation and punitive damages on claims of misappropriation of trade secrets, fraud, unfair competition, breach on contract and breach of fiduciary duties.
The suit originated from a partnership between the companies and Cisco. According to the complaint, ADIR and Cisco were to have jointly developed a product to make ADIRs voice-over software compatible with Ciscos hardware products. Net2Phone and Cisco created ADIR, of Newark, N.J., in September 2000.


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Islamabad: Federal Minister of Finance and Revenue Dr. Abdul Hafeez Sheikh on Monday chaired a meeting of the National Committee for Price Control here in Islamabad.
The National Price Monitoring Committee (NPMC) has reviewed the price trend of basic commodities, especially wheat, sugar and edible oil. The Minister of Finance was briefed on the decline in the CPI recorded at 8% in December 2020 compared to 12.6% in December 2019 as a positive result of vigilant monitoring under the NPMC on a regular basis.
The National Council of Sports Medicine noted a significant reduction in food price inflation as urban food price inflation decreased by 2.1% and the rural inflation rate decreased by 3.4% on a monthly basis. NPMC also reported that there has been a decline in the weekly sensitive price index of 0.7%. Also, the prices of 10 basic food commodities were reduced, especially tomatoes, onions, potatoes and chicken.
The Chair indicated that core component prices are starting to show a downtrend which is a positive result of the vigilant monitoring under NPMC on a weekly basis.
The Finance Minister directed the heads of trustees to control the smooth supply of wheat throughout the province by increasing the daily release, if necessary, and submitting a comprehensive report in the next NPMC accordingly.
The President urged the regional trustees to verify the possibilities of storage and black marketing, especially wheat and sugar, to ensure uninterrupted supply at fair prices.
The Federal Minister for Industry and Production, Hammad Azhar, briefed the National Committee on the measures being taken to further reduce the prices of sugar and edible oil in consultation with stakeholders.
The President directed the formation of a committee headed by the Minister of Industry and Production, with the Secretary of MNFS & R and relevant stakeholders as members, to come up with a coordinated course of action in this regard.
Advisor to the Prime Minister for Trade, Textiles and Investment Abdul Razzaq Dawood also expressed his appreciation for the measures being taken to further reduce the prices of sugar and edible oil.
The meeting stressed the need for the effective functioning of all federal and provincial authorities to monitor the situation of supply and demand across the country to provide everyday use materials to the general public at reasonable prices.
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The 2023 Olive Picking World Championship is just around the corner, and DNA Croatia is thrilled to announce our continued sponsorship of the Digital Nomad Team for the third year in a row. This exciting event will take place from October 19th to 22nd in the charming town of Postira, located on the picturesque island of Brač.
The Olive Picking World Championship provides a unique opportunity to showcase the natural beauty and cultural richness of Postira, where tourism and agriculture go hand in hand.
This exceptional championship serves not only as a fun competition but also as a platform to celebrate the tradition of olive farming and the high-quality, natural olive oil produced in Postira. It’s a testament to the authentic experience it offers to both tourists and the local community.
The 4th edition of the Olive Picking World Championship welcomed a Digital Nomad team for the first time ever in 2021.
Representative teams from various countries will participate in the championship, with each team comprising two female and two male members. The categories for the competition include manual olive picking and a quiz on olive farming, showcasing the diverse skills required in the world of olive cultivation.
Throughout the championship, attendees can look forward to tasting sessions, excursions, and entertaining evenings that will allow them to experience Postira, the Dol eco-ethno village, and the stunning island of Brač in all its glory. Postira has already welcomed teams from all over the world, making their memories truly unforgettable.
The Digital Nomad team (pink shirts) at the 5th Olive Picking World Championship that took place last year.
As we embark on this incredible journey, we invite our followers and subscribers to support the Digital Nomad Team and be a part of this enriching experience. Follow our social media channels for exclusive updates, and stay tuned for a remarkable adventure that captures the essence of Postira and the world of olives. Together, let’s celebrate the spirit of exploration, connection, and the beauty of remote work in the heart of Croatia!
A big thank you to the Croatia National Tourist Board, Hertz Croatia, Saltwater Nomads, and a big shoutout to the Postira Tourist Board for their outstanding organization and support.
Don’t forget to check out this event and more in our dedicated section.


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KOCHI: Though the Catholic Church has not changed its view on issues such as homosexuality and divorce, discussions are on for a change in stance... ...http://www.newindianexpress.com/cities/kochi/Cardinal-Church-Will-Not-Ignore-Changes-in-Society/2014/10/22/article2488878.ece
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Take note, retail merchants: Consumers are increasingly driving your store and online sales better than you are these days.
Chalk it up to the Amazon effect: The online giant pioneered customer reviews, which paved the way for the modern day version of word of mouth.
Today’s consumer has a megaphone like never before — one that’s viral and broadcasts to the infiniteness that is the Internet.
It’s a megaphone that can serve as a retailer's influential brand ambassador as well as its staunchest critic.
Their empowered voice has both given rise to “social influencers,” whose thumbs up — or thumbs down – on a product or retail experience often holds more sway with shoppers than a brand’s marketing spin.
The authenticity of the consumers’ voice, and user-generated content such as a favorite product “pin” on Pinterest, is increasingly drowning out traditional retail marketing messages.
It’s like word of mouth on steroids.
“We’re very active on social media, and fortunate to be the beneficiary of all those folks who take pictures of their food and their experience and share them,” Erin Pepper, director of guest relations and marketing for Le Pain Quotidien, the 200-location bakery/restaurant chain, told STORES magazine. “Instagram has become the ‘it’ child of the visual world, and social media — in al its various forms — has really become the new word of mouth.”
More than a third of Millennial women (the generation born between 1980 and 2000) who bought clothing online in the past year said social media was among the top influencers when making that purchase, according to a May report from Mintel, the market research firm.
“With one third of Millennial women visiting sites like YouTube (34%) and Instagram (33%) on a daily basis, and 71% using Facebook every day, clothing retailers should harness the power of social media to further engage these impressionable, influential and savvy shoppers,” according to a Mintel release.
The survey found that social-media users buy more than their social-network adverse peers. Indeed, 82% of social media users purchased tops in the past year versus 70% of social media non-users.
In turn, retailers are taking the, “if you can’t beat ‘em, join ‘em,” approach.
Chains ranging from Target to Bed Bath & Beyond are highlighting merchandise shoppers have “liked” on social media in their marketing efforts, from email promotions to retail blogs.
Judging A Book By Its Cover
And when it comes to online shopping, the consumer-to-consumer, digital purchasing influence extends beyond the actual item bought to how it’s presented. In other words, online shoppers judge a book by its cover and judge the book by how its peers judge its cover, too.
Dotcom Distribution, an e-commerce fulfillment company, surveyed more than 500 online shoppers to shed light on their brand packaging expectations and motivations for sharing branded images on social media.
Among its findings:
•“The excitement generated from a premium-packaged product encourages consumers to share their experience on social media sites as they would any other meaningful life event,” according to the report, Unwrapping The Customer Experience from Dotcom Distribution.
•”Premium packaging creates an opportunity for social sharing, and those images and videos shared on social media are likely to influence new customers to make a purchase,” the report found.
• And 39% percent of online shoppers have shared a product image or video on social media, and almost a quarter of customers who haven’t shared a product image would be more likely to do so as a result of pretty packaging."


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Facebook users are finding themselves tagged in their online friends’ photo albums, in an attack seemingly targeted at fans of the “Twilight” teen vampire romance movies.
Following an attack against photo albums using an image of a Playboy-style bunny girl, scammers are now pretending to link to a game promoting the upcoming movie “Twilight Breaking Dawn” starring heart throbs Robert Pattinson and Kristen Stewart as the starcrossed lovers Edward Cullen and Bella Swan.
As well as Facebook photo albums, users are also being tricked into “Liking” the scam links.
Play Twilight: Breaking Dawn
Be the first of your friends to play the awesome new Twilight game on Facebook!
If you click on such a link then you will be taken to a Facebook page which to all intents and purposes appears to be promoting an online game, being used to…
Read more in my article on the Naked Security website.


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At 91-years-old Durex is overhauling its brand, coming out as an “activist” against sexual stigmas, taboos and non-inclusive attitudes with the aim of showcasing the “positive reality” of modern-day sex.
A fresh visual identity will also reflect the positioning.
In practical terms, all marketing activity will now be conducted through a prism of “positive reality”, pushing society with thought-provoking messages and imagery designed to spark conversations around sex.
The initiative builds on the success of recent campaigns such as ‘Unforgettable Nights’, a move to debunk myths surrounding sexually transmitted infections, which contributed to better than expected sales.
The new approach also follows on from the findings of Durex’s own 2017 Global Sex Survey, which explored attitudes towards intercourse. The main takeaway was that while the exponential growth of the internet has brought positives (including openness, discussion, exploration and access), its consequences (such as misconnection, myths, lack of education and confusion) have been substantial.
Ultimately, the research pointed to an underlying sexual anxiousness, driven primarily by unrealistic representations of sex throughout culture.
It is those unrealistic representations, as well as the stigma and taboos they exacerbate, that Durex is rallying against. The campaign’s launch date – an occasion on which these conventions are felt most strongly – was chosen specifically, and one of the myths Durex aims to bust is that good sex can only happen on special occasions.
To launch its new mission, the brand has published an open letter explaining its stance.
Elliot Harris, RB global executive creative director at Havas, said: “This might be the most important piece of work we ever do. Durex is a huge brand with a unique and vital role in culture. It has genuine influence, and the capability to enact real change.
“And make no mistake, this is a proper commitment. This new brand purpose will lead to healthier conversations around, and attitudes towards, sex, but also greater inclusion and acceptance for those who might not always experience it. To have a brand like Durex publicly and proudly on your side makes a difference.”
MARKETING Magazine is not responsible for the content of external sites.


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NEW YORK (CNNMoney.com) -- Toyota is recalling 17,000 Lexus vehicles because they spilled too much gasoline during crash tests, the company said Friday.
The affected vehicles are 2010 model year Lexus HS 250h cars, Toyota said. The company did not immediately return a request for comment.
As part of a yearly testing program, the National Highway Traffic Safety Administration (NHTSA) performed a crash test and found that these cars spilled more gasoline than is allowed by the agency's safety requirements.
But Toyota said it tested the cars in the same manner and found that the fuel spillage met the requirements. The company is working to identify the reason for the different test results.
Lexus has not yet identified a fix for the problem, "but it is working hard to do so promptly and will notify owners as soon as one is developed," the company said in a statement.
Federal law prohibits dealers from selling any of the recalled products until a fix is identified.
Customers who want more information can contact Lexus Customer Satisfaction at 1-800-25 LEXUS, 1-800-255-3987 or www.lexus.com/recall.
New York Magazine reporter Jessica Pressler, who has been caught up in controversy this past week, will not be moving on to a new job at Bloomberg News. More
Unilever sued Hampton Creek over its egg-free mayonnaise spread Just Mayo. But the company behind Best Foods and Hellman's mayonnaise has now dropped the lawsuit. More
The income of the top 1% jumped significantly in 2012, far outpacing inflation. Not only did this group make a larger share of the country's income, their share of total taxes also jumped from 35% to 38%. More


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By Natasha Solo / Photo courtesy of Shutterstock
The wealthy have relocated in droves to seasonal vacation markets around the US during the pandemic.
The Sun Belt and Rocky Mountains have experienced a significant amount of demand, according to the 2021 Luxury Outlook report by Sotheby’s International Realty.
Affluent Americans — including millennials — have settled into beach towns and ski resorts from Florida to Wyoming, lured from major cities in part because of their desire to work remotely while surrounded by nature. And Sotheby’s predicts that the pandemic’s effects on the homebuyer psyche will continue to add to the surge in luxury home sales in secondary vacation markets for the next year, if not longer.
In Colorado, Aspen, Vail, and Telluride reported skyrocketing home sales through the summer, and unprecedented demand sent Aspen sales volume to a record high in the third quarter of 2020 — a total of more than $1.5 billion. One of Vail’s sales, a 15,000-square-foot mansion that went for $57.25 million, set the record for biggest sale in local history. In 2020, Colorado also emerged as the quarantine location of choice for rich Americans and milennials looking to escape the coasts.
Sales of million-dollar single-family homes in Palm Beach County, Florida, increased by more than 140% year over year, according to Sotheby’s, which reported high demand in a number of Sunshine State locations from Fort Lauderdale to Orlando. Fueling that real-estate boom are executives and companies fleeing to South Florida from Wall Street and Silicon Valley.
With local realtors attesting to the out-of-state demand for these Sun Belt and mountain markets, buyers are turning what were once seasonal vacation destinations into year-round hot spots.
Here are the top 10 places Sotheby’s predicts are on track for even more growth in the year ahead.
1. Austin, Texas
With a population just under 1 million, Austin is experiencing a boom thanks to an influx of tech companies and executives. The state capital ranked 17th on the list of top US cities for young professionals, 33rd on the list of best places to raise a family in America, and 23rd on the list of best cities to live, according to Niche.
The city’s typical home value has risen 12.8% over the last year and now stands at $437,800, according to Zillow, which predicts Austin home values will continue to increase over the next year.
2. Aspen, Colorado
The median sale price for single-family homes sold in Aspen through 2020 was $9.25 million, while the median listing price for Aspen single-family homes was $9.99 million, according to Aspen’s local Multiple Listings Service. That shows homes are selling for sums very close to their sky-high asking prices.
The Aspen Times reported that Aspen-area home sales topped $3 billion for the whole of 2020, a record high. The town’s population is estimated at about 7,400.
3. Tampa, Florida
Tampa is ranked among the best places to live in Florida and the best cities to retire, according to Niche. The Gulf Coast city, where about 52% of residents rent their homes, is home to just over 375,000 people.
The typical value of a home in Tampa is $272,167, according to Zillow. Over the last year, Tampa home values have gone up 10.9%, and Zillow predicts they will continue to rise over the next year.
4. Big Sky, Montana
The median single-family home sale price in the greater Big Sky area was $1.81 million in 2020, up 3.2% from the previous year, according to the local Big Sky Country Multiple Listing Service.
Known for its ski resorts and mountain-biking trails, the southern Montana community has an intimate population of about 3,000.
5. Phoenix, Arizona
Sotheby’s reports that the Phoenix market has experienced major multimillion-dollar property sales in recent months, with neighboring areas like Scottsdale and Paradise Valley not far behind.
Boasting a population north of 1.6 million, Phoenix has an urban-suburban feel and a 54% homeownership rate, according to Niche. Phoenix ranks 56th on the list of most diverse cities in America and 65th on the list of best cities to retire in America.
The median sale price of homes in Phoenix is $317,000, according to Redfin, which reports that value has jumped 13.2% year-over-year.
6. Vail, Colorado
The Aspen Times reported that Vail’s Eagle County and Aspen’s Pitkin County each exceeded $3 billion in home sales for the first time ever in 2020.
By the end of the year, Vail home sales were up 24% year over year, according to the Vail Daily, making it an unprecedented year for local real estate.
The typical Vail home value was $1.29 million in 2020, according to Vail’s Multi-List Service. The town’s population is estimated to be about 5,500.
7. Palm Beach, Florida
Sales of million-dollar single-family homes in Palm Beach County increased by more than 140% year over year, according to Sotheby’s, which reported high activity in a number of Florida locations from Fort Lauderdale to Orlando.
The city of West Palm Beach set new records, too, with luxury home sales surging 116% in the fourth quarter, according to Redfin. That jump is the largest among other major US metropolitan area and the most significant since at least 2013.
8. Jackson Hole, Wyoming
In 2020, the median single-family home price in Jackson Hole was $2.65 million, up 51% from 2019, according to data from the Teton County Board of Realtors Multiple Listing Service.
The Teton County, Wyoming, area’s average single-family home price was $3.67 million in 2020, up a whopping 39.5% year over year.
Home to just over 10,000 residents, Jackson Hole’s appeal is largely its proximity to three major ski resorts and vast nature reserves, such as Grand Teton National Park and Yellowstone National Park.
9. Miami, Florida
Miami had a strong rebound after the first lockdown, according to Sotheby’s, which reports that in October, million-dollar-plus home sales in Miami-Dade County doubled from the previous year, per the Miami Association of Realtors. Indeed, executives and companies fleeing to Miami from Wall Street and Silicon Valley are fueling a real-estate boom.
Miami saw a particularly steep increase in demand in the last three months of 2020 at the high end of the market, per Redfin data, as luxury home sales were up 55% and median luxury home sales jumped 18%. Overall, homes sold 53 days faster than they did in 2019.
10. Telluride, Colorado
In 2020, the median price for homes in Telluride was $2.15 million, according to the Telluride Association of Realtors.
S ituated at the base of a popular ski resort, the Rocky Mountain town of about 2,000 people is known as a hub of world-class skiing and status-boosting cultural events.
Colorado emerged as the quarantine location of choice for rich Americans and a haven for millennials looking to escape the coasts.


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SDA Becomes American Cleaning Institute, Launches New Website
The American Cleaning Institute? (ACI) is the new name of the former Soap and Detergent Association (SDA). The Institute introduced its new name and launched a new website to demonstrate the benefits and contributions of cleaning to everyday life.
The new site, www.CleaningInstitute.org, was unveiled during the Institute’s 2010 Mid-Year Meeting in Washington, D.C.
“Our new name, brand and website enable us to better tell the story of how cleaning products and practices contribute to better living,” said ACI Board Chair Jane Hutterly, EVP of Worldwide Corporate & Environmental Affairs, S.C. Johnson & Son, Inc. “Our industry’s commitment to a more sustainable world and enhancing health and the quality of life is stronger than ever and will be well represented by the American Cleaning Institute.”
“The American Cleaning Institute reflects our industry’s contribution to better living, who we represent, and the well-recognized scientific and technical expertise that we share with audiences around the world,” said Ernie Rosenberg, ACI President and CEO. Rosenberg noted that the Institute’s long-standing engagement with the global industry remains unchanged.
The former SDA was established in 1926; its members include the manufacturers and formulators of household, industrial, and institutional cleaning products, their ingredients and finished packaging; oleochemical producers; and chemical distributors to the cleaning product
The launch of the new name and website caps off a year during which the Institute moved into an environmentally-friendly new building (at 1331 L Street NW, Suite 650 in DC) and brought its global business-to-business meeting to a new location, the Grande Lakes Resort in Orlando, Florida. ACI’s next Industry Convention is scheduled for January 25-29, 2011.
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MID-YEAR ROUND-UP OF CONSUMER FAVOURITES
The two top-selling products for the first half of 2014, according to the Nikkei Marketing Journal (11 June), were low-priced smartphones and the Disney animated film Frozen (titled Anna and the Snow Queen in Japan).
The Aeon retail chain sold out of its complete stock of 8,000 smartphones with a subscription fee of ¥2,980 in one month. Frozen has grossed ¥20bn, propelling it to third place for domestic film revenues. Music CDs and other spinoffs have also been strong sellers.
Because the list is drawn up as a sumo banzuke (the stylised ranking sheet issued just before each Grand Sumo Tournament), the above-mentioned items were bestowed with the rank of yokozuna (grand champion).
Other standouts on the list include Nippon Individual Savings Accounts, or NISA, which are modelled after a similar service in the UK, offering five-year deferred taxation on capital gains and dividends; the Aeon mall in Makuhari, Chiba Prefecture, with 360 commercial tenants, one-third of which are “experience-type” businesses that appeal to customers by offering activities, in addition to, or instead of, merchandise; avocado burgers at McDonald’s outlets; halal-certified food aimed at the growing number of tourists from countries such as Malaysia that have large Muslim populations; and noise-cancelling digital earplugs.
Also on the list is Taiwan. The country has been booming as an overseas travel destination, due to Japan’s strained relations with China and South Korea.
A zannen-sho (booby prize) was bestowed on Japan-based low-cost carrier airlines, one of which, the ANA-affiliated Peach Aviation, was forced to cancel some 2,000 flights through October 2014 due to a shortage of pilots.
As to forecasts for the second half of 2014, this year marks a half century since the Olympic and Paralympic Games were first held in Tokyo, and October is expected to see a variety of commemorative events held by the Hotel New Otani, the JR Tokai railway company, which operates the Tokaido Shinkansen, and others.
Other major events predicted in the year’s second half include:
- Total lunar eclipse just after 6pm on 8 October
- The centennial of Tokyo Station’s opening on 20 December
- The opening of the Aman Tokyo resort hotel, in Otemachi 1-chome
- The Japan launch of Google Glass, a wearable computer with a head-mounted display
TRICKS OF THE TRADE WHEN TAKING PAID HOLIDAYS
Yukiko, a 40-year-old employee at a public relations firm, openly admits she’s addicted to China. Every year, she delays taking her summer holiday until September, and tacks on a few extra days of paid vacation time—thanks to national holidays—to take a trip of medium duration.
Yukiko is one of the minority of salaried workers who uses her quota of annual paid leave, reports the Aera weekly (30 June). According to the Ministry of Health, Labour and Welfare, an average of only 47.1% of Japanese workers take their paid leave. Most workers tend to make use of national holidays to enjoy their leisure activities.
Four years ago, Saori, age 38, left her boss aghast when she informed him she would take a two-week break to stay home and watch the FIFA World Cup on television.
This year, she took steps in advance—taking no paid leave in 2013, and letting people around the office know beforehand—in order to lessen the shock.
“My colleagues at work might have resented it if I’d gone to Brazil, but if I tell them I will just watch the matches from home, they react by saying, ‘Well if you like football that much’”, she says. “And I stay in touch with the office via my mobile phone and email, so I can be reached if they need me in a pinch”.
General consensus appears to be that the more imposing or spectacular the reason for requesting leave, the more co-workers are likely to accept it without grumbles, Labour Specialist Yohei Tsunemi told the magazine.
Paid leave is every salaried worker’s right, and workers cannot be disciplined for taking it. But it can be a source of friction between bosses and subordinates, or between co-workers, which is why more firms are turning to the Web when asking staff to submit applications for paid leave.
While many workers refrain from sharing details of their private lives with co-workers, the general consensus is that it is better to be more open about their reasons for taking paid leave.
To avoid resentment among her unmarried colleagues, one working mother with a cosmetics firm told Aera that, before taking a holiday, she would explain the details of her family situation and try to elicit their understanding over lunch.
The article also advises readers against fabricating excuses. To take time off due to mishaps, it is not prudent to use an excuse such as “a chicken bone lodged in my throat” or “I fell out of bed and lost consciousness”.
Untruths are sure to be exposed, making the fibber an object of derision. Honesty and openness are always the best policy.
WEATHER COULD DAMPEN SUMMER SALES
“Just hearing the term El Niño makes me shudder”, a person in the convenience store trade admitted to Nikkei Business (26 May).
The reappearance of this phenomenon, which generates higher ocean temperatures around the equator in the eastern Pacific Ocean, has in years past resulted in cooler summer temperatures that negatively affect the economy.
According to one research organisation, in 1983, Japan’s GDP declined 0.87% when the weather pattern struck; in 2003, GDP sank 0.52%. El Niño has not hit Japan in the past five years.
“Based on an analysis of the data, in recent years the Japanese economy has become more vulnerable to fluctuations in the weather”, Toshihiro Nagahama, chief economist at the research arm of Dai-Ichi Life Insurance Co., was quoted as saying.
As Japan is dependent on imports for much of its food supplies, weather conditions elsewhere also affect supply and demand pricing. For instance, the El Niño of 2002–03 resulted in a nearly 60% drop in Australia’s wheat harvest, causing prices to rise about 50% compared with prevailing prices at the end of December 2001.
Increased grain prices can affect the production costs of not only bread and udon noodles, but animal feed as well, which can seriously impact the diary industry.
Further examples of reduced consumption blamed on El Niño include the summer 2009 decline in PET bottle beverage sales, which fell 10% from the previous year. A frozen candy from Akagi Nyugyo Co., Ltd., called Garigari-kun, showed a 20% year-on-year decline.
A more worrisome indicator, with possible parallels in 2014, might be events of 2003, when taxes were raised on inexpensive happoshu (sparkling malt beverages), resulting in a double-digit year-on-year decline in shipments of Kirin’s various beer products during the May–August period.
To minimise risk, businesses this year will be reducing their dependence on revenue from summer-related goods and, in some cases, ending their summer sales campaigns as early as mid-July.
In the apparel sector, recent years’ prolonged summer heat, which has stretched into September and even October, has hurt demand for autumn fashion, although this year may be different.


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A report from Greenpeace accused JBS of “still slaughtering the Amazon” despite its past commitments to control indirect suppliers.
The group claimed the world’s largest meat-packing company has been “exposed time and time again for its part in deforesting the Amazon”.
Anna Jones, head of forests, Greenpeace UK, said: “JBS continues to have a problem… It does not have full transparency.”
Greenpeace said a new report by the Bureau of Investigative Journalism also exposed evidence of JBS’s direct involvement in moving cattle from deforested land to a ‘clean’ ranch, from which they could be officially bought by the company.
“It is still knowingly involved in deforestation,” said Jones. “JBS is not just turning a blind eye to its suppliers’ violations but has been directly implicated in transporting deforestation-linked cattle to one of its own direct suppliers.”
In response to Greenpeace’s claims that the company is indirectly sourcing cattle from farms in the Amazon involved in deforestation, a spokesperson said: “All JBS subsidiary companies adhere to strict responsible procurement policies throughout their supply chains and share our dedication to eliminating deforestation for good.
“We have been at the forefront of the industry in taking steps to improve supply chain traceability in Brazil. We are working closely with national and local government departments to develop solutions and system improvements around supply chain traceability and best agricultural practice to eradicate deforestation.
“JBS will continue to evolve continuously in new initiatives and plans in the coming months to promote significant changes.”
JBS’s monitoring system, which it claimed is considered “one of the best and most sophisticated in the world”, assesses more than 50,000 potential livestock supplying farms every day covering more than 450,000 km² (111 million acres) – an area larger than Germany.
However, the spokesperson added there is currently no publicly available official information to enable monitoring of indirect suppliers.
“We are nevertheless committed to tackling this issue and are in active discussion with stakeholders including the Federal Government of Brazil and other leaders across the industry to reach a practical solution.”
The company said that to date, it has blocked more than 9,000 cattle supplying farms due to noncompliance with its sustainability criteria. “If farms are deemed non-compliant with our sustainable sourcing policies for any reason, they are blocked from our supply chain.”
Concerning the allegations of cattle laundering, JBS said the BIJ report had used an individual case of JBS Transport cattle movement between farms to support a “spurious allegation of complicity in cattle laundering” and to conflate it with “the system level-issue of indirect supply traceability in Brazil”.
“Cattle laundering is when a livestock producer whose farm has an IBAMA environmental embargo for illegal deforestation uses a third party to supply their cattle to processing plants. To be clear, the cattle transport movement referred to in the BIJ report was not bound for a processing plant. Nor was the farm of origin subject to an IBAMA embargo.”
IBAMA, or the Brazilian Institute of the Environment and Renewable Natural Resources, is the Brazilian Ministry of the Environment's administrative arm that supports anti-deforestation of the Amazon.
The spokesperson added: “Had we not been satisfied that this farm was free of embargo, the entire transaction would not have taken place.
“For the record, JBS is not involved in, nor does it condone cattle laundering. In fact, it has been at the forefront of initiatives to stamp out this practice, working with the Federal Prosecutor’s Office and the Brazilian NGO Imaflora to introduce enhanced protocols enforceable from 1 July 2020.”
JBS pointed to various initiatives it has pursued to mitigate against issues such as cattle being traded between farms. These include the ‘theoretical index’, used to calculate if a livestock supplying farm has productivity above the maximum quantity established of 3 head of cattle per hectare per year. If a farm exceeds this, then it must be checked to verify if it has a high productivity production system such as a feedlot, semi-feedlot or food supplementation capabilities which could justify the number reached. Otherwise, it will be classified as suspected of cattle laundering and, in this case, JBS and other processors must cease all negotiations with the supplier.
In addition, processors must follow new rules for monitoring suppliers that require the use of geo-monitoring tools to analyse the areas embargoed by IBAMA due to illegal deforestation. Based on geospatial analysis, if the property overlaps with embargoed areas it must be blocked and no cattle purchases made.
JBS said this approach is more robust than the existing process of cross-referencing a property’s data against IBAMA’s list of embargoed areas
Often, the IBAMA list does not include the data of all farm owners, which can make it difficult to monitor supplying farms, as it allows those who were not listed as an owner of an embargoed farm to sell cattle to processors from the same farm.
“We are proud of the part we have played in the development of the theoretical index and its implementation is expected to make a significant impact in the reduction of cattle laundering,” added JBS. “Since its implementation on 1st July 2020 we have already been able to identify cases which are under investigation.”
Tesco calls for deforestation-free food
The Greenpeace campaign called on the UK’s largest supermarket Tesco to de-list two suppliers owned by JBS, Moy Park and Tulip. In response, Tesco said that while it has blocked Brazilian meat sales since 2018, it will not de-list two JBS-owned meat suppliers.
In a statement it said: “Businesses need to be part of the coalition to bring about change. Penalising suppliers who are playing their part and stand ready to do more cannot be in the interests of this agenda. Moy Park and Tulip also supply Aldi, Co-op, Lidl, Sainsbury’s and Waitrose. Blacklisting them could lead to thousands of job losses, impact British farmers and ultimately compromise our ability to offer fresh British meat and chicken to our customers.”
However, it did call on the UK government to order food companies to ensure all food sold in the UK is deforestation-free
Dave Lewis, Group CEO of Tesco, said: “Right now 74% of shoppers don’t want supermarkets to remove meat but we recognise the whole country needs to reduce meat and dairy consumption. We will continue to lead with suppliers and through innovation, education and new choices. Our plant-based protein lines increased by 46% since last year. Already, 10% of Tesco’s chilled ready meals, milk, ice cream and frozen protein ranges are vegan. We are making tangible progress but we can’t solve this on our own. Government needs to act now and on the whole food system, taking into account economic recovery, health, environment and crucially, affordability."


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Water and dust resistant, with wireless charging, with an all-screen design, the new iPhone X just released has numerous new features. Apple intends it to serve as a celebration of the tenth anniversary of Apple’s original iPhone debut.
Apple officially released information regarding the new iPhone, the iPhone X, and claims that the new model marks a new beginning for the brand and is revolutionary with some of its various new features.
A great advancement from its predecessors, the iPhone X is now more durable than ever; the whole phone is constructed of more durable glass and is both water and dust resistant.
Many people are also interested in the new charging method that the iPhone X features, that of wireless charging. “I think that the wireless charging feature is really cool. Now, people just need to place their phones on a pad instead of plugging it in with a cord to a wall socket,” said Amy Gu ’18.
Due to this new wireless charging ability, iPhone users can now enjoy listening to music and charge their phone simultaneously. iPhone users also don’t have to worry about buying new wired chargers if the wire frays, because wireless charging is always available.
An external feature that people are anticipating is the fact that the home button on the front screen is gone. “I really like how the front of the phone is just entirely a screen, but I don’t know what to expect from it, because I have become used to the home button,” said Cindy Li ’18.
However, even with all of these new features, for some, it still doesn’t make the new iPhone attractive enough to buy. Some potential buyers are dissuaded by the iPhone X’s price; it retails for $999.
“I really like how the front of the phone is just entirely a screen, but I don’t know what to expect from it, because I have become used to the home button.”
In just a couple of years, the pricing of iPhone products have drastically risen. Just a year ago, when Apple introduced the iPhone 7, the price started out at $549. The iPhone 8 which succeeded it, which has almost the same features as the iPhone X, starts at $699. Even at roughly $700, the iPhone 8 is an expensive proposition for many people, not to mention the $999 starting price point for the iPhone X. “The price of the iPhone X is absurd. What part of the iPhone X is so expensive that the price has to be that high?” said Anna Choi ’21. “I’d be crazy to buy the iPhone X! I’d rather buy something else with that money.”


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NEW DELHI: Drug major Cipla on Tuesday said it has completed the buyout process of South African pharma firm Cipla Medpro for an aggregate consideration of Rs 2,707 crore.
"The company has completed the acquisition of 100 per cent of the issued shares of Cipla Medpro South Africa Ltd for an aggregate consideration of ZAR 4,507 mn (Rs 2,707 crore), Cipla LtdBSE -0.10 % said in a statement.
The listing of the shares of Medpro on theJohannesburg Stock Exchange (JSE) has been terminated from the commencement of business on July, 16 2013, it added.
Commenting on the development Cipla Managing Director and Global CEO Subhanu Saxena said the investment is aligned with Cipla's strategy to ascend the value-chain by managing a front end sales force in a market outside India.
"The acquisition aims to further strengthen Cipla's commitment to South Africa and the broader African continent. The integrated business will compete more effectively in the changing local and global pharmaceutical environments and as such there will be an increasing focus on key African markets," Saxena added.
He said that for nearly two decades Cipla and Medpro enjoyed a longstanding symbiotic relationship and the acquisition will strengthen Medpro's position in the South African pharmaceutical market by leveraging Cipla's wide range of product portfolio and technological expertise.
"This will bring tangible benefits to consumers in South Africa, and increasingly the rest of Africa," Saxena added.
The Mumbai-based firm had received approval from the Takeover Regulation Panel of South Africa on June 27, 2013. In May, Cipla Medpro shareholders had approved the Indian company's takeover offer.
Cipla's board had given a go-ahead to completely acquire the South African firm in March this year. Earlier, in November 2012, Cipla had offered to acquire 51 per cent stake in Cipla Medpro at a rate of 8.55 South African rands per share.
Cipla supplies majority of Cipla Medpro's drugs through a long-standing agreement.
Cipla Medpro is the third largest South African pharmaceutical company founded in 1993 and is a leading provider of chronic medicines to the public and private sectors.
Shares of Cipla were trading today afternoon at Rs 402 per scrip, down 1.46 per cent from its previous close.


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TOKYO—Mitsubishi Heavy Industries Ltd. and Siemens AG said Wednesday that they had agreed to combine their business arms that make machinery for steel mills and other metals plants, with the Japanese partner taking a controlling stake.
The joint venture is the latest example of global consolidation involving old-line heavy industries in mature economies. Siemens
Increased output from mills in China, South Korea and other Asian countries has created a steel glut and a sharp decline in demand for steelmaking equipment, prompting companies like Siemens and Mitsubishi Heavy to seek merger partners.
Executives of Mitsubishi Heavy and Siemens said they were hopeful that business would recover over the next few years as demand for steel rises, led by the auto industry. They set a midterm goal of ¥400 billion ($3.93 billion) in sales for the combined business. Currently Mitsubishi Heavy’s metals equipment business has sales of about ¥62 billion a year, on a three-year average, while the Siemens unit has sales of about €2 billion annually.
Though the Siemens arm is bigger, with about 8,700 employees to the Mitsubishi Heavy unit’s 1,000, the Japanese company is taking control, with a 51% stake. The companies declined to specify financial details of the agreement, saying these were still being negotiated.
An extended version of this story can be found at WSJ.com
More must-reads from MarketWatch:
Jim O’Neill: short the euro, watch Apple, sell in May


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Wednesday, January 09, 2013
BNSF Logistics acquires Canadian shipping firm Albacor
BNSF Logistics L.L.C. has acquired Albacor Shipping Inc., an international global project and general cargo provider based in Toronto.
Albacor established operations in Canada and the United States in 1998, expanded to Europe in 2003 and most recently acquired eight operating locations in Russia.
The acquisition will expand BNSF Logistics' North American presence, as well as establish its first foray into new markets necessary to serve certain North American clients, said BNSF Logistics President Ray Greer in a prepared statement.
The deal also positions BNSF Logistics to better serve and take advantage of the "full range of opportunities" across the mining, civil engineering, oil and gas, renewable energy and power generation industries that are part of the industrial renaissance under way in many global economies, company officials said.
BNSF Logistics is a wholly owned subsidiary of Burlington Northern Santa Fe L.L.C., which is owned by Berkshire Hathaway Inc.
More news items from 1/9/2013
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On East Street in Bedminster, there’s a cluster of pawn brokers offering quick loans to customers against the value of their personal goods in what’s often dubbed “the world’s second oldest profession”.
Despite the dubious reputation that these businesses may have, Jack Woodman of Jack’s Cash, one of the few independent pawn brokers in the area, prides himself on doing things a bit differently. He runs his business with transparency and competitive pricing, which means he is increasingly offering a lifeline for other business owners in the area during the cost of living crisis.
With inflation at a 40-year high, energy bills soaring, and wages stagnant, it’s unsurprising that demand for pawnbroking services is currently at record levels.
H&T Group, which is the country’s largest pawnbroker with more than 250 stores across the UK, including one on East Street, recently recorded that demand for its pledge lending, where customers pawn goods, is the highest its ever been.
Jack says he first noticed a boom in demand for his shop's services during the pandemic when he was able to keep his shop open as it was classed as an essential service. Every day after banks closed at 2pm, he said a queue would start to form, as only two people were allowed to enter the shop at a time, keeping him and his staff busy until closing time at 5pm.
The most significant difference he’s experienced since the cost of the living crisis took hold has been not just the number but the variety of people who visit. Speaking to Bristol Live he said: “The biggest change is the different types of clientele.
“We've actually got other business owners in the Bedminster area who come to us. So, for example, a business might use jewellery [as collateral], buy stock with the money we issue them, sell the stock, make a profit and then buy their items back.
“We get all walks of life in here, and that’s very good; I find it really interesting; I like to hear the stories.
“A lot of people can think quite badly of pawn shops, but we're quite proud in the fact that when we don’t take advantage of people. We're affordable. I think that's probably why we've done so well.”
Jack assesses each person and item individually on a case-by-case basis, whether it’s someone looking for a little bit of extra spending money for their holiday or for loans ranging into the thousands to keep their business afloat. Typically the interest rate is around 10 per cent on a loan that can be available in as little as fifteen minutes, coming with considerably less risk than other alternatives available outside of traditional banking or to those with a poor credit rating.
One of these options is payday loans which can be up to a maximum of around £1,000, with interest paid at an APR (Annual Percentage Rate) of around 1,250% - 0.8% per day, according to MoneySupermarket.com. There are also doorstep lenders who visit customers' homes to collect payments, charging a similar interest rate or higher.
Like pawnbrokers and payday lenders, licensed doorstep lenders are regulated by the Financial Conduct Authority (FCA). But some operate illegally without a license from the FCA, meaning they don't keep paperwork, they might change rates and repayments, or use violence, threats and intimidation to enforce demands.
Jack said: “With us, it’s pay as you go, you’re not tied in, there are no hidden clauses, you’ve got a retail premise you can go back to. Whereas with a lot of these payday loans, you’re taking something out online, suddenly you’ve got the money in the bank and then a big bill every month, whereas here I think it’s a lot less seedy.”
The idea of charging higher rates isn’t something that makes much business sense to Jack anyway, as a lot of his trade is repeat custom from people who have had a good experience with him before. He said: “When you’re a business, it's better to make a smaller profit often than to rip someone off them once.”
If individuals do struggle to meet their payments, Jack described his approach as differing from some of the bigger buyback companies. He said: “We like to be a bit more lenient. You know, we're real people as well. Things do happen which is beyond your control.”
Jack estimates that around 75 per cent of people buy back their items but said before the cost of living went up, it was closer to 85 per cent. He said: “We give everyone what we call a 'grace'. And then there are some situations where people can then pay on a deposit scheme. We don't want people to lose their items.”
Jack’s been trading for seven years, and although he mainly deals with jewellery and watches, he also specialises in "prestige" items which can range from supercars, pawned by car dealers to finance their next purchase, to ultra-rare Pokémon cards. All this means that he and his staff of three, including his mom, have to have expertise in a wide range of subjects.
Stepping into his store, you are met with a warm and friendly welcome, and it feels more akin to visiting a jewellery shop than a pawnbroker; you can even get a watch strap and battery fitted for a very reasonable price. Jack says that customers travel from far afield to browse some of the unique items he has on display and that often, people looking to upgrade to a new piece of jewellery simply decide to trade in something they already own in part payment.
With each transaction, he draws on a wide range of skills, from dealing with figures to subtly questioning the item to gauge its authenticity. For Jack, transparency is key to his businesses, weighing out gold in front of the customer and making sure they understand the terms they're signing up for.
Whether they're looking for a loan or to simply sell their items, Jack said he always tells them to head down to the other shops on the street for a quote before making a decision. "Nine times out of ten," he said, "they come back."
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Industry News Sponsored by
Frutarom’s F&F ingredients business unit has named Jake Hammerman as account executive.
Hammerman had most recently worked at Chr. Hansen as a natural food colors account manager. In his new role, he will focus on customers within the U.S. Northeast and will report to John Potocek, regional sales manager.


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Someone may be using your laptop or your desktop web camera to watch and listen to you without your knowledge. It happens, and yes, it’s downright creepy. And to think that someone may be spying on your kids that way is truly alarming. But there is an easy fix to better protect yourself and your family.
Malware programs that allow a hacker to secretly access computer cameras and microphones have been around for years. As recently reported by the New York Times in June, a 2015 report released by the nonprofit Digital Citizens Alliance indicates that the practice is a growing problem for consumers, especially young women. To demonstrate how a hacker can infect a family’s laptop with such malicious software, the NBC Today Show ran this story. It ran a similar story in 2013.
Notably, while FBI Director James Comey and Facebook CEO Mark Zuckerburg are on opposing sides of several on-going privacy debates between tech companies and law enforcement, they both cover their laptop cameras and microphones to thwart uninvited eyes and ears. Zuckerburg’s practice of covering his office laptop camera and microphone with tape was noted in this article posted in July. FBI Director Comey has publicly acknowledged that he covers his laptop camera for personal security reasons, and urges others to do the same.
While keeping your laptop computer’s internet security and anti-virus software up to date can reduce the risk that such malware will infect your computer, there are other simple steps that you should consider that are both quick and easy to accomplish. First, turn the power off and keep the laptop lid down when it is not being used. If you have a desktop webcam, unplug the camera when not in use. Second, when you’re using your laptop, cover the microphone and camera with a piece of opaque tape, a post-it note, or even a sliding cover that can be purchased on-line. Tell your kids and parents to do the same.
Stay tuned for further tips.


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After only a month since its debut at the Chicago Auto Show, Acura has started production of the 2013 RDX at an Acura plant in Ohio.
The first generation of Acura’s RDX compact utility vehicle was made at the Marysville, Ohio plant, but for this model the company moved production to the nearby East Liberty, Ohio plant, where it will be built alongside the Honda Crosstour and CR-V crossovers. This second generation model will be made with American parts mostly, engines assembled in nearby Anna, Ohio, and transmissions from Russells Point, Ohio.
“Acura is a brand for luxury customers who aspire to the highest levels of quality and value, and the East Liberty team is going to play a very important role for us as we move forward with production of this exceptional new Acura RDX,” John Mendel, executive vice president of sales at American Honda Motor Co., Inc. said. “We know the East Liberty plant is one of the best in the world, as is evident by your high quality rankings.”
Honda hopes the demand for the Acura RDX to be high, since the car has been redesigned with simplicity and elegance, this model featuring a simpler 3.5-liter V-6, which also promises fuel economy and a simpler all-wheel drive setup.


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New controls on the import of pork will be rolled out in Britain from today (Thursday) amid concerns about African swine fever (ASF) spreading throughout Europe.
It follows intense lobbying from the meat industry as there has effectively been no checks on imports at UK borders since Brexit.
Sporadic outbreaks of ASF across Europe in recent months led to the conclusion that the virus is moving via “human mediated spread”.
A new risk assessment by the Animal and Plant Health Agency found there is “medium risk” of ASF entering Britain and the most likely route is a member of the public bringing pork products back from an ASF-affected country.
Under the new rule, it will no longer be legal to bring in pork products weighing over 2kg, unless it is produced to the EU’s commercial standards.
Government Minister Lord Richard Benyon said an outbreak of ASF was “one of the biggest threats” facing the UK pig industry.
“We are not complacent and this decisive and proportionate action will stop the entry of pork products that pose the greatest risk,” he maintained.
Nick Allen from the British Meat Processors’ Association said there had been a “worrying increase in small van loads of meat entering the UK from areas with ASF”.
“We’re extremely relieved that these new measures are to be brought in with immediate effect,” he said.


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An heir to the Hermès fortune, Nicolas Puech's money was supposed to go to a charity he founded, but the billionaire changed his mind this year.
A reclusive fifth-generation descendant of one of Europe’s richest families has reportedly made the bold — and controversial — decision to cut ties with a charity he founded. The 80-year-old Nicolas Puech initially planned to leave most of his fortune to the charity, but earlier this year, in February 2023, he decided to adopt his 51-year-old former gardener and bequeath him billions instead.
Puech, the childless, secretive, and somewhat mysterious descendant of Thierry Hermès, who founded the luxury handbag brand Hermès in 1837, has reportedly started the process of adopting his unnamed gardener, entitling the man to a major portion of Puech’s estimated $11.5 billion fortune.
Little is known of Puech’s ties to his former gardener, or how long the man had been under Puech’s employ. According to the Swiss newspaper Tribune de Genève, the gardener is of Moroccan origin, is married to a woman of Spanish origin, and the couple have two kids together. And Puech apparently calls the man and his family members his “adopted son” and “children.”
Other than that, details about the man are scarce. But Puech’s decision has caused quite a stir with the Isocrates Foundation, the charity that he founded in 2011, which was originally supposed to receive his fortune.
Per The Guardian, the foundation announced in December 2023 that it has formally “opposed” Puech’s decision to change the inheritance plan.
Puech had previously signed a “succession agreement” with the charity, entitling it to his inheritance upon his death — unless he became a father, in which case half of Puech’s inheritance would be bequeathed to his child.
The foundation was created to fund “the protection and promotion of public debate” and “public interest journalism and media organizations committed to strengthening the field of investigative journalism.”
The foundation has a board of six people, with Puech acting as its president.
“From a legal standpoint, the abrupt and unilateral annulment of a succession agreement appears void and unfounded,” the foundation stated. “The foundation has opposed this move, while leaving the door open to discussion with its founder and president.”
Puech’s lawyer, Jörn-Albert Bostelmann, declined to comment on any specifics to multiple media outlets, but he did tell Bloomberg that he may hold a press conference “to separate the fact from the fiction and to dispel some of the nonsense that has been reported in the media.”
Although Puech had become an outcast from his family years ago amidst a tense corporate battle that his other relatives took up against the rival luxury group LVMH — without Puech’s help — he is still estimated to own roughly 5.7 percent of Hermès’ shares.
After the COVID-19 pandemic, renewed demand for Hermès’ luxury handbags and silk scarves saw the company’s valuation skyrocket, now estimated to be $230.8 billion. So even though Puech is not nearly as involved in the company as he used to be, he is still estimated to be worth $11.5 billion.
Anyone familiar with fashion will not be surprised that the Hermès family is one of the wealthiest on Earth. Not only does the company sell some of the world’s most expensive handbags — with some in the five-figure or even six-figure price range — but the company also has a rich history of using high-quality materials and eye-popping designs.
The company was founded in 1837 by Thierry Hermès and began as a harness and bridle workshop in Paris’ Grands Boulevards neighborhood. The business was dedicated to serving European nobles, and became notable for its high-quality harnesses and bridles.
When Hermès’ son Charles-Émile took over the business, he moved the shop to 24 rue du Faubourg Saint-Honoré, and the headquarters remains there to this day. The company continued to supply high-quality goods for carriages and riders, and it also introduced saddlery.
The shop continued to grow under Charles-Émile’s two sons, Adolphe and Émile-Maurice. According to Fashion In Time, however, Adolphe eventually left the business, believing that it would not succeed as the introduction of the automobile would inevitably make riding gear less sought after.
Émile-Maurice, now the sole owner of the business, agreed, but decided to pivot the company in a new direction. He patented a new type of zipper, known as the Hermès Fastener, which made a splash with multiple clothing lines. And in 1922, he introduced the brand’s first leather handbag, securing the business’ place in the market in France and beyond.
The decision evidently paid off, as Hermès is still flourishing today.
While Puech has not had any official role in the business since 2014, it’s clear that the business’ extensive success has provided him with quite the fortune — and now, perhaps some of that money will be shared with his gardener.
After reading about this surprising transference of wealth, read about the time a German widow left her neighbors a $7.5 million fortune. Then, learn about Charles Feeney, the billionaire who vowed to give away his fortune before he died.