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By Alex Goetzfried
By Alex Goetzfried
St. Patty’s Day got off to an early start on Wednesday night as the American Celtic punk band Dropkick Murphys rocked out to 3,000 rabid fans at Terminal 5 in New York City. Doc Martins, kilts, mohawks, tattoos and hockey sweatshirts imprinted with the Dropkick Murphys logo, are the fashionable items for an evening at a Dropkick Murphys show.
By Yuen Wa Ng
Shopping online on Black Friday might seem like a great way to avoid the huge crowds amid chilly weather, to get pre-Black Friday deals and to give you more time enjoying turkeys. Still, many shoppers found compelling reasons to leave their homes.
By Erin Teresky
Goodbye Mademoiselle, Hello Mimosa.
They are nail-polish color names, not salutations to a French ingénue or a brunch cocktail — the former is a now-outré sheer pink by Essie, the latter a must-have metallic-infused yellow by Chanel.
Unusual shades once relegated to teenage punk rockers or eccentric elderly women have become mainstream, as have weekly professional manicures, once the preserve of wealthy matrons.
As the earning power of women grows — 28.9 percent of wives out-earned their husbands in 2009, according to the Bureau of Labor Statistics, up from 17.8 percent in 1987 — it makes sense that the nail industry, a market whose customers are overwhelmingly women, has been booming.
As more women earn advanced degrees and contribute more to the G.D.P., the “safe” fashion and beauty choices once typical of corporate culture are going the way of the girdle.
Unlike the 1980s, when many women wore “power suits” with football-equipment-like shoulders, today more women achieve economic success without feeling the need to maintain a gender-neutral style. Shannon Tesauro, an analyst at Fidelity Investments on Wall Street, says she often wears bright colors to work. “My office isn’t strict about nail polish,” she says. “Right now I have on a dark, metallic purple.”
Funky nail colors “are fun,” says Caroline Davis, project manager at New Beauty magazine. “It’s a form of expression just like dressing — you base your nails on your mood and personality.”
While there is no shortage of $20-mani-pedi specials in the city, for the truly adventurous many salons now offer a new service: nail art.
Nail art includes glitter and 3D ornaments, or custom designs painted on the nails by a skilled technician. These services usually cost upward of $60. In SoHo, $40 will buy you a work-appropriate cardigan in a cheery color at Ann Taylor or a glitter manicure at Marie Nails in SoHo.
The nail industry has “expanded very rapidly due to more options, lasting-longer gels,” says Jenny Matayoshi, of Marie Nails, one of more than 4,000 nail salons in New York State. Matayoshi says it helps that area businesses seem “more open to nail art now.”
Nail art has been a boon to salons. According to Nails, an industry publication, 89 percent of salons nationwide said they offered nail art services in 2011; that’s up from 78 percent five years earlier. Moreover, the share of profits contributed by nail art nearly tripled, reaching 9.8 percent in 2011.
Indeed, the nail industry seems to track the fortunes of women in the economy. During the last five years, the unemployment rate for women has been lower than that of men every year, sometimes by as much as two percentage points. For example, in the depths of the recession, in 2009, the unemployment rate for women was 8.1 percent, compared with 10.3 percent for men. That year, the nail industry also experienced a slight decline to $6 billion in revenues from $6.2 billion the year before, but sales were still well above the $5.5 billion in revenues in 2006.
Nails projects that the industry will make $7.3 billion in 2012. That’s a lot of manicures. But as more women are breaking the glass ceiling, they’ll need those salon visits. No one likes to be seen clicking broken nails on the boardroom table.
By Similoluwa Ojurongbe
Now you can have bacon for lunch, dinner, dessert and, in some parts of the city, even a midnight snack.
And baconmania isn’t just sweeping the Big Apple. A few weekends ago, tickets to BaconFest Chicago, (yes, a festival dedicated to bacon) sold out in three hours. Three thousand bacon lovers enjoyed creations from 180 different restaurants and chefs. Some of the bacon-binge options were the porkapalooza burger, bacon pancake pops and the “wobble stopper’ bacon bloody Mary. Desserts included bacon Rice Krispie treats and chocolate-and-bacon-covered toffee.
“They cooked an entire pig,” said Jon P. in a post on Yelp. “They were low when we got there, so they gave us the snout to munch on. Ya, I took a bit out of a hairy, pig’s nose. No one said this event was classy.”
Waffle and Wolf, a waffle sandwich restaurant in Williamsburg, Brooklyn, specializes in waffles with embedded bacon. As a main course, it also has a “Wolf waffle,” a bacony waffle with tomato, cheddar, arugula and avocado yogurt. The bacony waffle dessert option comes with peanut butter, banana and caramel. And for those who are in the mood for a bacony late night snack, Waffle and Wolf delivers its bacony waffles as late as midnight.
Matt, the salesperson at the restaurant, who is also the chief waffle maker and a self-declared bacon fan, says: “The reason people like bacon so much is probably because it’s comforting.”
And a review on Yelp, Angelita B. says: “They put the chopped bacon in the waffle batter. It was a freaking Bacon Waffle, slathered with tomato jam and chunks of avocado, folded over like a taco.” Bacon treats are available on the go in New York City. A must-try on a hot summer day is Coolhaus, a food truck that serves a candied bacon ice cream, along with other non-traditional flavors like “beer & pretzels” and “Peking duck.” Their trucks can often be found by Union Square and on 23rd Street and Park Avenue.
The love for bacon extends beyond the edible. J&D now produces a bacon-flavored chap stick. And if you enjoy the smell of bacon in your shower, a bar of bacon soap from Archie McPhee might appeal.
The science behind the appeal of bacon is called the Maillard reaction, which occurs when bacon is heated and the amino acids in the meat protein combine with the sugars in bacon fat. During this process, aromas and flavors are released. The taste and the smell of sizzling fat give bacon its appeal, along with its high salt content, which makes almost anything taste better.
By Erica Hanger
Malina Lambach does not relish Black Friday.
“Imagine having to practically inhale your Thanksgiving dinner, say your goodbyes to your family and not be able to spend the rest of your holiday in a food coma like everybody else,” said Lambach, a sales associate whose 12-hour shift at Saks Fifth Avenue OFF Fifth at Woodbury Common Premium Outlets in Central Valley, N.Y., began at 9 p.m. on Thanksgiving, three hours before the store officially opened.
Every year thousands of shoppers from all over the tri-state area flock to Woodbury Common, a 220-store mall, for door buster deals that begin at midnight on Thanksgiving. However, some larger department stores, including Saks, require employees to arrive even earlier on Thanksgiving Day to prepare for the shopping madness. While many people hunt for bargains and prepare wish lists, retail employees must leave the holiday dinner table, whether they want to or not, to organize clothing racks and ensure that merchandise is fully stocked and neatly arranged.
“Leaving my family and cutting my Thanksgiving short every year to go to work is heartbreaking,” says Lambach, 32, an eight-year Saks veteran who works in the women’s designer department.
Saks Fifth Avenue at Woodbury Common employs 40 year-round employees, but for the holiday season it hires an additional 40 to 50 employees. The mall itself employs 3,000 workers during the holiday season, up from the 1,600 to 2,000 who work the rest of the year. Across the U.S retailers hired nearly 43,000 seasonal workers this year, a 16 percent increase from 2010.
More people are also shopping. “Despite the economy, Black Friday at the Commons gets busier and busier every year,” said Deidre Harris, the human resource manager at Saks who has worked at the store for 11 years. “With nearly 100 employees working 12-hour shifts on Black Friday, we can still hardly keep up.” Hiring more employees is not an option, though, says Harris, as company regulations do not allow the store to exceed a total of 120 employees.
“It’s still just as busy as the year before, but I’ve noticed customers bringing in additional coupons and reward cards compared to years ago,” said Ebony Howard, a sales associate who has worked at Saks for the past six years, adding that impulse shopping is down and customers are, “buying only what is on their list.”
“For the past five years, I’ve shopped Black Friday at the Commons,” said Silvia Young, a medical receptionist from Yonkers. A single mother, Young was shopping at Saks for clothing deals for her three teenage daughters. “But in recent years I’ve been on a tight budget, I only buy what I need, like a few things from my three teenage daughters’ Christmas list and small gifts for relatives. I still get great deals on clothes and shoes, but end up cutting out luxury products like expensive jewelry or handbags.”
By Hope Varma
It used to be that when people thought of clothing rentals, they imagined tuxedos, sometimes horrible powder blue, and prom dresses, often tacky. Think again.
A new era in clothing rentals now gives New Yorkers access to cutting-edge designs from every major label. Fashion showrooms such as Albright Fashion Library, at 62 Cooper Square, have made people’s dreams of dressing like a fashionista a reality.
“People can wear looks that were once worn by their favorite celebrity,” says Marina Albright, daughter of the founder, Irene Albright. “We carry every major designer from Alaia to Zac Posen.” The showroom, which houses thousands of dresses, shoes and accessories, draws the fashion-savvy. The library owns pieces worn by celebrities including Madonna (remember that Jean Paul Gaultier cone bustier from her Blond Ambition Tour), Sarah Jessica Parker and Bethenny Frankel.
Fashion rentals started with stylists who needed to pull clothing for photo, television and film shoots. Showrooms such as Albright came about as a sort of middle ground between the stylists and the fashion houses—they now had access to multiple designers all in one place. Originally just serving the entertainment industry, the showroom has been open to the general public since the late 1990s.
In today’s economy, a showroom like this is much in demand. “The recession has really created a public demand for fashion rental showrooms,” says Irene Albright. “People don’t have the means to be spending thousands of dollars on clothing.” Indeed, many companies focusing on clothing rentals have opened not only in New York but in other parts of the country. People who couldn’t afford such high-end designs now have the chance to wear fabulous clothing.
“As a 20-something New Yorker, I have a lot of events to attend,” says Julie Mulligan, an Albright customer. “It’s impossible to afford different looks for everything. At Albright, I can rent an Oscar de la Renta cocktail dress for a fraction of the price it would cost to buy it.”
Consultations at Albright begin at $250 and rentals, including the clothes, shoes, bag and other accessories, as well as dry-cleaning of the garments, run $1,000 a week.
The rental business has an online presence, too, with virtual showrooms such as New York-based renttherunway.com. All those women who at one time or another felt “I have nothing to wear” can now, with the simple click of a button, have access to designer dresses for a fraction of the retail price.
This experience is one of online convenience—a woman can rent a Herve Leger dress that retails for $1,600 for $150 and have it delivered the following day. Joining a virtual showroom such as renttherunway.com is simple—there’s no charge to register. Then enter the date for which you need the outfit, enter your size and ZIP code and a list of available dresses will be constructed.
Additionally, members get a backup size at no charge, and a second dress for $25 more.
Mulligan, a 28-year-old architect who lives in Tribeca, browsed the racks at Albright, which were filled with thousands of shoes, from Christian Louboutin to Manolo Blahnik to Yves Saint Laurent, as well as the dresses, which are arranged alphabetically by designer.
One can’t help but feel like a child entering Willy Wonka’s Chocolate Factory. “I walked in really excited about getting to try on all these different looks and was not disappointed,” Mulligan recalls. “By the end, I felt like a princess.”
Feeling like a princess does come at a price, but remember—you may be renting a $10,000 Marchesa gown, with $1,500 Jimmy Choo strappy sandals and a $2,000 Balenciaga clutch for a tenth of the price of the gown. “If you saw Mila Kunis or Olivia Wilde in a dress that you absolutely fell in love with and had an occasion to wear it to, we could facilitate that dream for you,” Marina Albright says.
After trying on many outfits, Ms. Mulligan opted for a short, strapless Marchesa lace cocktail dress, Christian Louboutin black patent leather pumps, a Helmut Lang black coat and a Michael Kors clutch. “I am so happy with the look I chose,” she says. “It has a very New York edge to it, while still being elegant. I also can wear some of the different items throughout the week, before I have to return everything. Overall, I had an amazing experience and will definitely be a return client.”
By Miguel Sobernais
Walk into Diane B. Ladies Shoes on Third Avenue on the Upper East Side in Manhattan and you see rows and rows of expensive-looking women’s shoes, much like any other shoe store in the neighborhood. But a closer look reveals that, alongside the usual designer names like Ferragamo and Jimmy Choo, are many shoes labeled Diane B.
Diane B. has been creating and selling its own private-label shoe designs since it opened in 1999.
Craig Blattberg, 47, the owner of Diane B., credits his private-label business with the success of his three Diane B. stores. While many shoe and apparel businesses suffered during the recession, Diane B.’s private-label shoes, which sell for less than designer brands, not only sustained the business but helped it expand, he says.
In 2010, Blattberg opened a Diane B. in Greenwich, Conn., and there’s another on Lexington Avenue. Blattberg says combined sales for his three locations totaled $5 million last year.
A native New Yorker, Blattberg started his career as a stock boy in a Manhattan shoe store when he was 18. Over 13 years, he worked his way up to partner. But a legal dispute led Blattberg to sue his partners and leave the business in 1997; he would not name the store, but said it had recently gone out of business.
Although Blattberg earned a degree in photography while working at the shoe store, he felt his true strengths were in the shoe business. “I was 30 years old with a lot of experience in this business, this was all I knew,” says Blattberg. So twelve years ago, Blattberg opened the first Diane B. Ladies Shoes, on Third Avenue, paying $16,000 a month in rent.
The store focuses on professional, fashion-minded women, ages 35 to 65. Blattberg began creating a shoe line when he realized his customers wanted stylish models that were cheaper than the designer labels sold at stores like Bergdorf Goodman, which can retail for around $500 per pair. In contrast, Blattberg’s private-label shoes sell for $265 to $315 a pair.
“I couldn’t find with other designers what my customers were looking for; so instead of saying ‘no’, I made it,” says Blattberg.
He had no background in design, so Blattberg partnered with his Italian suppliers and began creating original styles to be sold exclusively at his store. Among his private-label suppliers are the Stuart Weitzmann Company and the Pancaldi Company, two major Italian firms that have worked with Blattberg since Diane B. opened. With their help, Blattberg was able to create exclusive designs by taking pre-designed shoe molds and customizing them with unique patterns. The entire process takes about a year.
Producing and selling original products has proven to be a successful formula for Diane B., a fact highlighted during the 2008 recession. “I noticed things were changing around the time Lehman Brothers shut down,” says Blattberg. “Sales were down 20 percent. If a woman came in to buy a blue pair of shoes for an interview that’s exactly what she got and nothing else.” Customers were frightened by the economic downturn and were only making necessary purchases, he says.
Blattberg was in Italy when news broke that General Motors was considering filing for bankruptcy. That was the point when he really felt shaken by the recession, he says, so he reached out to his associates, including Stuart Weitzmann, for business advice. The overall theme of the responses was “sell cheap and sell more.” But the idea of lowering Diane B.’s standards by selling lower-priced items like flip-flops alongside more expensive shoes did not sit well with him. “They all told me the same thing; I did the exact opposite,” says Blattberg. During the recession, Diane B. began increasing its stock of private-label designs, raising prices on those shoes by $10-$20 a pair. “When department stores were marking down, we didn’t succumb to that,” says Blattberg, adding that the markup on his shoes sustained his gross margins. That’s because his private-label business provides better profit margins than do the designer labels.
Indeed, Diane B.’s biggest local competitors, none of which sell private-label shoes, fared far worse during the recession. For example, Shoe Box, another leading Upper-East-Side retailer, has shuttered two stores since the start of the recession.
In 2010, while nationwide consumer spending was still tight, Diane B. had its best year. Sales picked up tremendously, says Blattberg, noting, “Women were tired of not shopping. We provide shoes that fit well and are cheaper than the competition plus we are service-orientated.”
Blattberg who has never advertised and relies on word-of-mouth, estimates that 75 percent of his business comes from repeat customers.
“I’ve been shopping here for a very long time,” says Grace McCabe, 63, a tall and casually dressed woman, as she tried on a pair of spring shoes. “They have a very nice selection, and they always have exactly what I need.”
The same day, Blattberg helped Shirley Appleson, 54, a petite, well-dressed woman. “It’s nice to get a man’s opinion before I purchase some shoes,” she said. “He really understands what I’m looking for.”
Now Blattberg is focusing on the future, planning to open a store every five years. He is also grooming his nephew, who will soon graduate from college, to take over the business, asking, “Wouldn’t you take over your uncle’s million-dollar business” if you had the chance?”
By Gabriela Ramirez
From screening films only in New York City to offering them online, around the United States, the Tribeca Film Festival is expanding its scope.
The Tribeca Film Festival began experimenting with online streaming last year, making available a $45 pass that people could use to watch some films from the festival that were offered online.
This year the fee has been eliminated, replaced by a virtual seat reservation system, in which the public can purchase online the limited number of opportunities to view the film. ? “We are excited about this idea of virtual screenings and reservations,” says Jon Patricof, chief operating officer of Tribeca Enterprises, which operates the festival. “It has the potential to be a model for online viewing of films that hasn’t really been tried, as far as we know.” This year’s Tribeca (Online) Film Festival will show six feature films and 18 shorts. So far, the response has been overwhelmingly positive, festival officials say.
“The opportunity to participate in the online festival was made to all of the films in this year’s Tribeca Film Festival,” Patricof says. “Filmmakers that decided to participate are excited about the idea of audiences from around the country having the opportunity to see their films and, of course, about the prospect of winning the online audience award.”
While online streaming of films raises some issues, such as piracy, for the documentary “New York says Thank You” it was the perfect platform. This documentary that has been filmed for six years and follows four New Yorkers who are helping communities around the United States to rebuild after natural disasters, The film offers an inspiring and positive take on the repercussions of Sept. 11, sending a message of healing through volunteering.
Scott Rettberg, director of “New York Says Thank You,” says his film is for whole country and he’s delighted that it will stream. “It was more about more people getting to see it and be inspired to volunteer,” He says.
Most people who will be streaming the movies online are young, one consideration Rettberg took into account when he made the decision to be part of this festival.
Megan Sleeper, producer of “New York Says Thank You,” says she sees another advantage to showing their documentary online: some people who were part of the film, those that received help in places like Kansas, who won’t be able to make it to the festival, and now will have a chance to see it.
Patricof notes: “Originally when we launched the festival last year, we thought the audience would be entirely people from outside New York. We were excited about offering people who can’t make it to New York during the festival the chance to see films, engage in the discussions and watch footage. We found out that it’s not just people outside New York who participate but also those who already attend the festival who want a richer, deeper experience.”
There is, of course, a big difference between the experience and reactions directors will get from audiences that attend the festival and those that will be commenting about the film via Twitter or Facebook. As a filmmaker, Rettberg says the reactions he gets from an online audience, as opposed from a live one, will definitely be different, explaining that there is a more freedom to be honest on the Internet and it’s a great place to inspire conversations. On the film’s official Tribeca page, it has more than 60 comments were posted about the film, its Web Site shows.
Jerry Rothwell, director of “Donor Unknown,” another documentary that will be streaming online, adds, “The online festival is experimenting with a new kind of festival, and it’s exciting to be part of that.”
His documentary is a story of a sperm donor and the children who want to find him. It raises several questions regarding family and biological connections and is likely to lead to many discussions.
Rothwell says his films are best viewed communally, and that the traditional way demands an audience’s attention. Regardless, Rothwell says, “people can still make an event out of watching a film they’ve found on the internet at home. And the exciting potential of an online festival is that you can have a very direct relationship with the audience – getting immediate responses, linking to other relevant content and offering a kind of individual Q&A to each audience member.”
And that is exactly the experience that Tribeca is creating. In addition to streaming films online, it is offering a number of interactive features, including: Live From…, Tribeca Q&A, Filmmaker Feed, the Future of Film blog, Twitter and Facebook pages. All of this content has created a new way to be part of the festival, linking people in the online community with others just as passionate about films.
The Tribeca (Online) Film Festival may very well be providing a look into the future not only of film festivals but also how films are distributed.
The Tribeca Film Festival starts April 20 and runs through May 1. The festival site is now live, and tickets as well as virtual reservations are available at www.tribecafilm.com/tribecaonline
By Aleksandr Smechov
A dancing Batman and Robin; a passionate supporter of Richard Mack, a former Arizona sheriff and now a Libertarian activist; a cacophony of anti-liberal debauchery – all were part of the Thomas Paine Park Tea Party rally on Friday, April 15.
You can’t have as much fun with liberals, I thought. I had gone wanting a good show, something to amuse me. What I got was something else, a well-organized movement that is increasing in momentum, a grassroots campaign growing into something serious.
And this is frightening; it left me dazed by its momentum and clinging to my apolitical agenda.
Hosted by TeaParty365’s David Webb, the rally – broadcast live on Sirius XM – offered, among others, Mike Church, who hosts a talk show on Sirius XM, and Charles Payne, a frequent contributor to Fox News.
In some ways more fascinating than any of the speakers was a 365 volunteer in the crowd, Wave Chan, who hissed and glared at people who kept their hats on during the Pledge of Allegiance, screamed his conservative sentiment in the middle of speeches and afterward stood for two hours in the bitter cold, holding a five-foot-high American flag.
Maneuvering through the unruly crowd of about 200 people, snaking around yellow-shirted petitioners and old timers, I came upon two dancing Brooklyn Tech students, dressed as Batman and Robin.
I asked if they knew any of the speakers. They were anticipating Mr. Freeze, a foe of Batman. Well, I thought, these two will get more than they expect.
Positioning myself at the front of the crowd, I watched Webb, co-founder of TeaParty365, whose website says it was “founded to advocate for fiscal responsibility, free enterprise and liberty; and that limited, effective, efficient and constitutional government must be our collective goal in order for this nation to maintain its place as the world’s leader.”
Webb introduced the first speaker, Andy Sullivan, a construction field supervisor who was apparently emotionally ravaged by the city government’s aversion to having a Wal-Mart in the city.
Sullivan recalled a meeting of the City Council where he was supporting the retailer. “For four hours I had to sit and listen to how evil Wal-Mart is,” he said, referring to it as “the greatest body of capitalism the country has ever produced.”
Afterward he shifted his focus to the more humdrum subject of mom-and-pop stores, blaming “taxes and regulation” for killing Americana charm. “This is a crisis of identity.”
I stepped back and looked around the crowd for a viable fanatic to interview – and found Rena Corey, a staunchly conservative grandmother who was holding up a yellow cardboard sign proclaiming Richard Mack as a hero.
Why is Mack a hero, I asked.
Corey glared at me. She said Mack, the former sheriff of Graham County, Ariz., was doing his job, and doing it for the good of the country.
Doing what for the country? I asked.
She gave me another sharp look. Again, she explained; Mack was arresting illegal immigrants, and the Obama administration sued him for doing the right thing.
“Thank you,” I mumbled, and turned to the next speaker, William Shea Jr., a financier, who began speaking about how rash and irresponsible the liberals were. “If a Democrat breaks it, you pay for it… if a socialist breaks it, Jesus, everybody pays for it,” and “the Democrats ought to be the red states.”
Shea ended: “You look at a little baby… it goes oops in its little panties, and that’s what the Democrats do.” Democrats keep spending money until they go oops, I’m out of money, explained Shea.
Webb then welcomed Church, the talk-show host. His topic was “Mordor on the Potomac,” and he told the crowd of 200 that nowhere in the Constitution did it specify that the “Republicans and Democrats get to make your laws in Washington.”
With a Back to the Future analogy, Church said, “I want to put you in my little DeLorean here, and we are going to go to 2031. We are going to knock on your 3-year-old’s door, and we are going to hold a gun to his head, and demand $544,000, because that’s what he owes.”
Annemarie McAvoy, a Fordham Law graduate who worked for Citigroup and other high-profile financial institutions, was up next and offered several suggestions: spend less so your kids won’t have to pay for it, and go out and vote.
I was shocked. Amid all the complaints, I had forgotten about such things as rational solutions.
At this point, I was dazed, catatonic from the cold and excessive partisanship.
I did not hear much of Andrew Wilkow, another Serius XM host, nor the journalist Janks Morton’s Washington rant.
Though I did hear Janks say something about “the Department of Agriculture, who has never grown one stick of corn … the Department of Transportation, that has never driven anyone anywhere … the Department of Energy, that has never produced one kilowatt.”
My senses shot, I walked away, as people in the crowd raved and yelled.
I was expecting a small gathering of extremists. What I got was far more frightening. The Tea Party movement is gaining momentum – it is organized, stylish and increasing in popularity. This is no ordinary grassroots campaign.


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Virtual & Augmented Reality News - Page 15
Oculus today announced that there are over 60 games That have generated more than $1,000,000 in sales to date, with most of them making far more than 1,000,000.
Oculus launched the quest platform in 2019, and since then, the company has sold multiple million quest headsets. Quest 2 is selling exceptionally well, and so is the software that goes along with it. Many developers have announced that they have made huge sales, including the developers of Five Nights at Freddy's: Help Wanted, which hit the $1,000,000 mark in just over a week and Onward, which hit that same number in four days.
Onward has since gone on to bring in more than $10 million of revenue from the Oculus Quest platform alone.
Facebook is getting a lot more serious about its VR investment. The company just released its quarterly earnings call, and it had some news to share about the VR business. The Quest 2 is selling very well, but there's another headset in development.
Facebook released the Quest 2 in October 2020, and the device has been selling very well. Facebook never talks directly about sales numbers of its VR devices, but Mark Zuckerberg said the Quest 2 "is on track to becoming the first mainstream virtual reality headset."
Oculus falls under the "other" category in Facebook's revenue figures, which grew significantly over the last year. The last quarter of 2019 brought in $346 million, whereas, in 2020, Facebook's "other" revenue topped $885 million. It's unclear what else falls in that category, but it's a safe bet that Quest 2 and its content drive the lion's share of that revenue increase.
Technology is beginning to turn reality into science fiction. Valve is working on brain-computer interface (BCI) technology that will be available soon, and Gabe Newell said it would allow you to edit your mood.
If you thought virtual reality and augmented reality were science fiction technologies, wait until you try a BCI system that allows software to interact directly with your brain. If this sounds like science fiction to you, I've got surprising news for you: this technology exists in research laboratories today, and it's not far away from becoming a consumer product.
Gabe Newell recently sat down with 1 News in New Zealand to discuss his company's work in the BCI space, and what he said may shock you. Newell explained that BCI technology would enable you to alter your personality as you see fit. Software developers will be able to create applications that can change your mood to your liking, such as dialling up your motivation when you're having an off day. Newell expects that one of the earliest applications would be a sleep-improvement tool that ensures you get proper REM sleep and that you sleep for set durations.
HTC today announced that it made several improvements to the software that powers the Vive Cosmos headset. The company said the recent updates free up CPU cycles and unlock more performance from your GPU.
HTC didn't have any new hardware announcements last week at CES, but the company has recently dropped some software updates for the Vive Cosmos headset that should improve your VR experience.
The Vive Cosmos is now compatible with DirectX 12 on NVIDIA GPUs. The change won't impact graphics performance, but HTC said that the shift lowers the CPU load by 15-20%. HTC also made some changes that reduce frame latency by as much as 10%.
SenseGlove recently announced SenseGlove Nova, a haptic force-feedback glove targeted for enterprise-level virtual reality simulations. These gloves let you grab virtual objects and feel them as if they were physical objects to give you a more profound sense of realism in training simulations.
The SenseGlove Nova features vibration motors to give you a tactile feeling when you touch something, kind of like what you get in a typical gamepad or VR controller. The Novo gloves also include a mechanical system that gives you physical resistance when you try to hold onto something virtual, like a doorknob or a tool.
This type of technology is hugely important in the enterprise simulation world, where the level of realism has a meaningful effect on the value of the user's training. When you're trying to learn how to complete a dangerous task, such as maintenance on a gas pipeline, working with explosives in a mine, or trying to perfect a surgical procedure, the more accurate you need the experience to be.
Apple is reportedly working on a standalone virtual reality headset that it could launch as early as next year. The upcoming device could also offer passthrough AR capabilities.
According to a report from Bloomberg citing anonymous sources with knowledge of the projects, Apple is currently working on two different types of immersive headset. It's no secret that Apple has been tinkering with augmented reality behind closed doors, with rumours of Apple AR glasses circulative for several years now. Tim Cook has also gone on record with his belief that augmented reality has great potential.
Apple has never been bullish on virtual reality, but this new report suggests that's where the company will start. The reported headset would be a standalone device with internal computing powers. Bloomberg's source said that Apple is testing hardware that is more powerful than the new M1 processor powers it's new Macbook computers.
Oculus has begun informing developers that it would be rolling out two of the Quest's most highly requested features in February. Soon you'll be able to have multiple users on your Quest 2 and share games between accounts.
Oculus announced on its developer blog that multi-user accounts and app sharing would begin to roll out to Quest 2 owners as early as next month. The initial rollout will come through as an experimental feature update for Quest 2 that owners would need to opt-in for. The update will be available for all Quest owners in a future update.
The developer blog post reveals several details about multi-user accounts, including what developers should expect from the new update. The blog explains that the headset's primary user would have to authorize additional accounts for the headset, and they could invite up to three other users to use the headset. Those users would need to log in with their own Facebook accounts.
Facebook is currently facing considerable backlash over the decision to merge Oculus and Facebook accounts. The company has been met with criticism from past Oculus users, would-be Oculus users, and critics alike. It's even dealing with a lawsuit from the German government over the move. And yet, the company has remained steadfast in its decision and has yet to waver.
Carmack took the time to respond to Diggie directly, but the answer will surely disappoint many. He reiterated that Facebook login is here to stay, adding that it could take a decade to gain public trust about security.
Panasonic today revealed an updated version of its VR Glasses prototype. The VR Glasses are a compact tethered VR device for use with your smartphone or PC.
Panasonic first showed off its VR Glasses design last year at CES 2020, and this year the headset is back at the show but with a few updates compared to the old one. First and foremost, the newest version includes a pair of 2.6K micro-OLED panels for Kopin, which now offer HDR color support. The VR Glasses also include built-in earbuds, so you don't need to fiddle with an extra pair of headphones.
The Panasonic VR Glasses are so named for their unique industrial design. Unlike other VR headsets, the VR glasses don't have one large compartment for the screen, optics, and electronics. The VR Glasses have two small capsules that house the components for each eye separately. The optics include IPD adjustment, which is the distance between your pupils. It also supports diopter adjustment, which means you can move the lenses towards or away from your eyes.
Patents for new Samsung headsets have surfaced in Europe. The patent documents include illustrations and renderings of two headsets, including one that looks like bug-eyes. They also include renderings for custom motion controllers.
Samsung has had its toes in the VR space since the very beginning of the consumer VR market, but it tends to have one toe in the water at a time. In the early days of this industry, Samsung partnered with Oculus to launch the GearVR smartphone-based VR headsets. The company later partnered with Microsoft to launch a Windows Mixed Reality headset called the Odyssey, and subsequently the Odyssey+.
The Odyssey+ WMR headset has been on the market for a couple of years now, and it's about due for a replacement. These new designs may point to Samsung doubling down on its VR offering soon.

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The voices of Tax Policy Center's researchers and staff
While state budgets are recovering along with the US economy, state fiscal policymakers remain cautious about the post COVID-19 future, according to a survey by the Tax Policy Center, with the support of Avalara. Officials in 44 states responded to the TPC survey, which was aimed at learning about the impact of the pandemic on state budgets, the state tax revenue picture, the budget outlook for FY 2022, and their views about sales tax reforms. Overall, while state budget officials are increasingly optimistic, they remain concerned about what might be called long-term fiscal covid.
When the pandemic spread in 2020, states saw a freefall in revenues. Many rushed to revise their budgets for FY 2021 in light of dire forecasts. But, while revenues plummeted from April-June 2020, they mostly recovered in the next quarter. For the period April 2020 to March 2021, overall state revenues ended up fairly flat compared to the prior year.
We surveyed officials largely before Congress passed the American Rescue Plan Act (ARPA) in March. Here are some of the key takeaways:
- Most states were unable to fully assess the impact of the pandemic on their budgets.
- This was in part due to shifting income tax deadlines.
- Most states ended up with higher revenues than they initially feared.
- Income tax revenues remained fairly strong because higher-income households were less impacted by the pandemic.
- While consumption of services plunged, sales tax revenues were robust thanks to growth in taxable goods purchases, including online sales that states recently gained authority to tax. However, many states have incomplete details on whether purchases are made on-line or in-person
- Because of the current positive fiscal environment, most states are not planning to expand general tax bases to include more goods or services.
- Taxation of digital goods and streaming services still is not widespread across the states despite growth of the digital economy. And very few states are planning to expand state sales taxes to those transactions.
Most states responding to the survey expressed optimism about their budgets and economies in fiscal year 2022. The passage of the ARPA, which provides $195 billion in direct aid to states, made state fiscal pictures even brighter. But many respondents remained concerned about the future.
These challenges include uncertainty about:
- How state revenues will perform in the post-pandemic world and after federal relief runs out;
- Changes in consumer behavior caused by the pandemic and whether trends such as dramatic increases in on-line purchasing will continue;
- If and when tourism and services such as hotels, car rentals, restaurants, bars, and entertainment will revive and related taxes will recover;
- Whether industry composition within their state would change permanently;
- Whether elected officials will address structural budget deficits (the gap between revenue growth and spending growth);
- Aging populations and growing public pension obligations and other postemployment benefits; and
- A lack of alignment among policymakers regarding long-term fiscal solutions.
While most state officials are hopeful that large pandemic-related challenges are behind us, the situation remains fluid, and states continue to face considerable uncertainty. Indeed, while people are traveling more and hard-hit industries are recovering, new COVID-19 cases are increasing. We will continue to monitor what is happening in states, but our survey gave us deeper insight into how state officials understood the fiscal consequences of the pandemic so far.
To dig deeper into the survey results, read the full report “Surveying State Leaders on the State of State Taxes.”
Posts and comments are solely the opinion of the author and not that of the Tax Policy Center, Urban Institute, or Brookings Institution.
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Header image courtesy of Avalara.


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Billionaire Nicolas Berggruen Has No Place to Call Home
Despite a billionaire fortune that would allow him to purchase more than a dozen mansions in the most exciting capitals around the world, Nicolas Berggruen remains homeless.
He’s not living on the streets, however, simply choosing to make a series of hotel rooms his homebase because he has deliberately decided not to purchase either a home or a car.
Berggruen has not owned a home or a car since 2000, when he sold his two homes and his automobile and decided to live a simple nomadic life.
Berggruen says he doesn’t believe in showing off his wealth by owning fancy homes, although his money does allow him to travel by private jet and stay in only five-star hotels and resorts.
He has put all of his remaining possessions in storage and only carries a change of clothing for several days that includes jeans, shirts and a few suits, along with his iPhone.
Berggruen says he is happy to have shed the responsibility that comes with ownership, explaining that he came to his decision to be homeless when the pursuit of acquiring materials things no longer left him satisfied. He doesn’t critize the wealthy who live ostentatiously, but says the simple life suits his tastes just fine.


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Retail in the Red: BDO Bi-Annual Bankruptcy Update
An overview of U.S. retail bankruptcies and store closures in the second half of 2020
The COVID-19 pandemic served as a catalyst for a slew of bankruptcy filings by struggling retailers. Along with existing consumer preference shifts and continuing e-commerce growth, the pressures of government-mandated store closures pushed retailers already in crisis to the precipice.
2020 resulted in the largest number of retail bankruptcies filed since the financial crisis in 2009. However, the pace of Chapter 11 filings curbed off at the end of 2020, making the numbers less bleak than originally expected. This underscores the efficacy of retailers’ resilience throughout the pandemic, including their ability to make faster decisions, respond to unforeseen demand shifts, and adjust their supply chains for stronger omnichannel execution. However, retailers should not rely entirely on the changes made mid-pandemic to sustain momentum. Shifts like buy-online-pickup-in-store (BOPIS) and e-commerce capabilities are now the baseline, and it’s time for retailers to think through their businesses’ post-pandemic vision to keep their revenues up and risk of bankruptcy low.
There were 15 major filings in the first half of 2020: 14 in the 3rd quarter—including Brooks Brothers and Le Tote/Lord & Taylor. However, there was a clear slowdown in retail bankruptcy filings after Labor Day, with only six in the 4th quarter, including Guitar Center and Francesca’s. In addition, there were four bankruptcy filings in January 2021, only two of which were by retailers with more than 25 stores (Christopher & Banks and L’Occitane).
Some retailers that hung on through the holiday season with expectations of capturing Q4 sales upticks may have been disappointed. The National Retail Federation (NRF) says holiday sales grew 8.3%—the highest growth rate on record—with year-over-year gains in six of nine categories, but declines most notably in electronics and appliance stores (-14.4%) and in clothing and clothing/accessory stores (-14.9%). Meanwhile, the latest U.S. Department of Commerce figures show total retail sales in 2020 increased 6.9%. This marks the highest growth since 1999 and the first time in history that e-commerce sales accounted for all of retail sales gains, indicating that sales through all other channels—including brick-and-mortar stores—declined.
Despite overall sales growth last year, the final 2020 retail sales figures will not be known until returns have been processed from the holiday season. According to a recent survey by the NRF and Appriss Retail, returns account for more than $400 billion in lost sales for U.S. retailers, and online returns more than doubled from 2019. On average, retailers expect 13.3% of merchandise sold during the 2020 holiday season to be returned, which is expected to cost retailers $101 billion, according to the survey. The level of returns experienced by distressed retailers may be their tipping point toward bankruptcy.
Navigating the impact of returns and unbalanced inventory on retailers’ bottom lines is even more critical during pandemic recovery. Throughout 2020, retailers were subject to pandemic-driven extremes such as an unanticipated oversupply in apparel and sustained heightened demand for household essential products. Too little inventory results in some lost sales, while too much typically results in heavy price discounting to clear out unsold goods.
Malls were, and continue to be particularly impacted by the decline in foot traffic and the rise of e-commerce. The mandated closures and capacity limits on experience-based tenants—including movie theaters and gyms— further depressed foot traffic. In the second half of 2020, several mall-based retailers filed for bankruptcy, including Tailored Brands (Men's Wearhouse and Jos. A. Bank), Le Tote (Lord & Taylor), Ascena Retail Group (Justice, Lane Bryant, Catherines and Ann Taylor + Loft), FTW Retail Winds (New York & Company), Brooks Brothers, Lucky Brand and Francesca’s. This was in addition to the bankruptcy filings of major retailers in the first half of 2020, including Pier 1, Neiman Marcus, JC Penney and GNC. The numerous filings and store closings of mall-based retailers also gave rise to mall vacancy rates, which grew to 10.5% by Q4—the highest in twenty years—up from 10.1% in Q3 and 9.7% in 2019, according to Moody’s Analytics REIS. Looking ahead, Coresight Research estimates 25% of America’s roughly 1,000 malls will close over the next three to five years. Underperforming malls are less able to rely on anchor stores to drive foot traffic, requiring them to transform. Previously vacant space may need to be reimagined into healthcare facilities, office space and other non-retail uses.
In the coming months, retail success—both in and out of malls—may depend on rethinking business models to adapt to changing consumer preferences and demand shifts. The pandemic drove many retailers to enhance their omnichannel strategies, including adding curbside pickup, a trend likely to continue post-pandemic. However, these solutions come with a potential reduction in impulse purchases, which have long been profit-drivers for brick-and-mortar retailers.
Some retailers that avoided bankruptcy in 2020 were able to do so by right sizing their assets. As the pandemic upended the in-store experience, retailers unable to sustain operations at existing levels began to reevaluate their store portfolios.
After bankrupt and non-bankrupt retailers announced around 10,000 store closings in the first half of 2020, the second half of the year showed a marked decrease, with approximately 4,900 closings announced. A significant number of the store closing announcements were made by apparel retailers, which comprised the majority of the closings by retailers both in and out of bankruptcy.
According to CoStar Group, 159 million square feet of retail space was closed in 2020. Vacancy rates across the retail sector overall averaged 20% in the second half of the year, according to Statista. These vacancies leave significant retail space to be repurposed, especially in malls, which have a high concentration of apparel retailers.
In the year ahead, 36% of retailers are eliminating or consolidating floor space as a means of cost optimization and 31% are reducing their mall-based stores, according to the 2021 BDO Retail CFO Outlook Survey. For stores that are being preserved, retailers will need to focus their attention and investments toward a hygiene-centric, safe and convenient customer experience. For some, making the decision to shutter select locations may be difficult, but freeing up resources to focus on larger revenue generators can help boost the business's long-term health.
BDO’s Take: Outlook for the First Half of 2021 and Beyond
It is clear the pandemic will continue to have a far-reaching impact on retailers. The 2021 BDO Retail CFO Outlook Survey also reported 42% of retailers expect to restructure as industry revenue declines persist. Additionally, 40% of CFOs surveyed are reevaluating their real estate footprint this year and the uncertain timing of COVID-19 vaccinations have brands preparing for reduced consumer traffic and spending extending into the summer.
Perhaps the most pertinent takeaway from the state of retail in 2020 is that retailers need to have the ability to pivot quickly and adapt their business models. While it’s difficult to plan for all potential business disruptions, the retailers likely to thrive will be those that demonstrate agility in addressing and adapting to customer needs.
We expect the first half of 2021 will continue to see some retail bankruptcies and store closings, but at a slower rate than in 2020. The initial impact of the coronavirus pandemic hastened trends that were negatively affecting the industry for several years, leading to a large number of bankruptcies. As a result, the most distressed retailers have already gone through a restructuring. However, a recovering economy and evolving industry will certainly result in more retailers struggling, leading to a lower—but steady—pace of filings and store closures.


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Strange Brew has been here in downtown Binghamton and it is still fantastic! The coffee shop and eatery located on Washington Street in Binghamton is thriving! College students and local residents continue writing in with very positive reviews...
Strange Brew is brand new to the downtown Binghamton scene and it was fantastic! The coffee shop and eatery opened its doors on Washington Street at the beginning of this month and local residents are already writing in with very positive reviews.
Binghamton Restaurant Week is here. Like I've said before, you know it's a good week when it last's 10 days.
Tara and I have a tradition that began 3 years ago, where we go to Binghamton Hots. She recently asked me how the restaurant got it's name. Well, here's the answer.
When is a week that goes 10 days a good thing? When it's Binghamton Restaurant Week! It all began Tuesday, and runs until Thursday September 24th.
It's an awesome way to try a new restaurant or meal and help out some good causes.
You may or not know that I (Emily, formerly known as 'Skitter') am from Long Island, which means that most of the annual events in Binghamton are very new to me. (What is a Speidie?!)
This year, I'm so excited to participate in my first ever Restaurant Week!


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News of the initial authorization on Friday (Nov. 30) of the U.S.-Mexico-Canada Agreement (USMCA), a new trade pact championed by U.S. President Donald Trump to replace the 24-year-old North American Free Trade Agreement (NAFTA), was welcomed by the Canadian RV industry’s leadership. Lawmakers in all three countries still have to ratify the trade deal before all is said and done.
Sounding their approval were RVDA of Canada President Eleonore Hamm and Canadian Recreational Vehicle Association (CRVA) President Shane Devenish following the signing of USMCA by Trump, Canadian Prime Minister Justin Trudeau and outgoing Mexican President Enrique Pena during the Group of 20 Summit in Buenos Aires, Argentina.
“We’re pleased to hear this (Friday) morning that the three leaders did sign off on the agreement,” said Hamm, noting that legislative advocacy for trade issues was one of the organization’s top priorities in the three-year strategic plan it just approved at the RVDA Con/Expo in Las Vegas. “I think it’s a step in the right direction. While the governments still need to adopt the agreement individually, it definitely addresses some of the concerns that we had with regard to how trade was going to look moving forward. So, we’re quite pleased that it’s the first step.
“The one concern I guess we still have is that the tariff issue has not been addressed,” Hamm added. “Hopefully they’ll look at that now that the signing is done, but the steel and aluminum tariffs are still in place. Hopefully, with this positive step the negotiations will continue and we’ll get things back on track. But make no mistake, it’s absolutely good news for the RV industry. I mean for Canada especially, our largest trading partner is the United States, so we definitely do not want to have barriers to trade. Now, obviously the NAFTA agreement needed to be upgraded because it had been around for a while and hopefully this new agreement will help maintain the free trade that existed from one side of the border to the other. And I think when things were uncertain and we weren’t sure where it was going, people were a bit concerned. I don’t know if it affected consumer confidence, but we’re looking forward to it being resolved.”
Devenish is taking a similarly positive view of this whole turn of trade-related events.
“We are certainly encouraged by the signing of the new NAFTA Agreement, or USMCA, on Nov. 30 and we are very hopeful that this will signal a move back to more friendly times,” said Devenish. “Our economy is somewhat fragile at present, so we are optimistic that we will see this agreement ratified by the respective governments quickly in order to provide a much-needed impetus for Canada.
“Ultimately though, we really need to see the elimination of tariffs and counter-tariffs on steel and aluminum and components between all countries to truly have free trade on our products and keep the price on RVs sold in Canada competitive.”


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Pack2Go Europe, the association of food & beverage service & convenience manufacturers in Europe, welcomes the clear vote of the European Parliament in Strasbourg yesterday on revision of the Packaging & Packaging Waste Directive (94/62/EC). This included defence of the single market for packaging and packaged goods and explicit recognition that food hygiene, consumer safety and public health imperatives must be taken into account when regulating environmental aspects of packaging.
Commission Vice-President Timmermans, speaking in Strasbourg, said the Commission was fully aligned with the adopted position of the European Parliament.
A new attempt by the Greens to promote the introduction of national restrictions on specific packaging was rejected. The Parliament’s vote sends a clear message to the French government. The latter has put in place a controversial ban on disposable plastics tableware that is illegal under EU rules, according to Pack2Go Europe. Based on this Strasbourg vote, it would appear that a majority of MEPs agree that there is room for national restrictions.
“We now have the weight of the entire European Parliament and the Commission against the sort of politically motivated, impractical ban that is supposed to come into force in France in 2020 against disposable tableware,” says Mike Turner of International Paper Foodservice Europe and current chairman of Pack2Go Europe. “MEPs have understood that the EU needs a single market for packaging and packaged goods and that disposable food and beverage service packs are indispensable in guaranteeing food hygiene, consumer safety and public health in many aspects of modern life.”
Attention now shifts towards the emerging position of the 28 EU member countries. In this respect, the European Parliament also issued a mandate to a negotiating team to start informal talks with the EU Council of Ministers (i.e. the member states) to start the process of shaping a final legislative package for adoption later this year.
Parliament and the 28 EU member states share equally the decision-making power over the final content of the law. Rumours abound that some governments do not support the single market approach that was backed so firmly by MEPs and the Commission in Strasbourg this week.
MEPs were voting on a bundle of legislative proposals from the European Commission designed to modernise EU waste rules, make them more coherent and promote the development of a circular economy in Europe.
“Pack2Go Europe has worked tirelessly to explain to MEPs that our packaging is indispensable to the way people live today. That work must go on. The real challenge we must all face up to – packaging convertors, food service operators, government and consumers – is the need to facilitate more and better collection and recycling of our packs and prevention of littering,” says Turner.


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By Li Hong，People's Daily Online
China has finally decided to move towards using its own currency, the yuan, to settle trade with its neighboring partners, making a maiden but visionary trip to enhance the status of yuan in the global market place.
The State Council, headed by Premier Wen Jiabao, launched the pilot project on April 8, by naming Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan to try out the scheme. Though details on how the plan evolves and cascades remain in the pipeline, we have ample confidence that the policy-drawers led by the central bank Governor Zhou Xiaochuan and Trade Minister Chen Deming, who are advised by the country's home-groomed business wizards, will ante up for a neat success.
Whether the move will usher in the yuan to the regional arena as a heavyweight Asian currency is not known yet, but economists have aspired to give the currency a more prominent role in settling border deals, in keeping with China's growing trade prowess as the world's third largest economy.
More creative and ground-breaking ideas are needed in the process to nurture and strengthen the currency, I believe, as the yuan is not freely "convertible" in the market. But reform is never easy, seldom has a tutor, as the past 30 years of the country's modernization has proved that so long we don't deviate from building a cause with Chinese characteristics, it will succeed, this time, too.
Countries and regions that have signed currency swap agreements with Beijing, including Malaysia, South Korea, Argentina, Indonesia, Belarus and Hong Kong, are most likely to try out the yuan settlement. Hopefully more will follow suit.
There are legions of benefits for Beijing to kick off the daring plan. The first, and most probable, intention is to bolster China's trade volume with neighboring partners by shielding traders from the rising risk of major currency exchange rate swings, a phenomenon that is exacerbated by the global financial crisis.
Chinese exporters and importers have complained that their balance sheet is being eaten by an ever-enlarging fluctuations of the exchange rates among the yuan, U.S. dollar, the euro, the yen, and others. The yuan has gained 21 percent against the the U.S. currency since a dollar peg was scrapped in July 2005, eroding the value of exporters' dollar-denominated profits.
And, the swing is not to subdue. The U.S. Federal Reserve's latest decision to purchase US$750 billion mortgage-backed securities and US$300 billion long-term Treasuries, a measure to ease a severe credit crunch and prop up a contracting economy there, sent the value of the greenback tumbling for a few days on the market. Why? Because the paper bills will come out of American printing houses, or created from the "thin air".
China's central government website said in a statement that carrying out yuan settlement in cross-border trade will have "significant meaning" in promoting bilateral trade with neighboring economies. Avoiding a third or middle currency while settling a deal, trade will become smoother, and traders will pick up more profits.
Another benefit of the move, I guess, could be China central bank's intention to wind down U.S. dollar-denominated foreign currency reserve. From any economist's perspective, a 2 trillion dollar hold is too much, even for a large country like China. Premier Wen admitted in mid March at a press conference in Beijing that the government is concerned with the safety of the reserve. A few days later, the Federal Reserve came out with flushing the market with 1 trillion dollars paper money.
Top officials of the Obama administration have shrugged off the idea of Governor Zhou Xiaochuan's brain child of launching a super-sovereign reserve currency, in place of one issued by a specific nation, in an aim to shoot the frequency and intensity of global-level financial crises. Washington claims the greenback remain "very strong" and Zhou’s SDR (special drawing rights) modeled currency is fictional. As the current round of crisis sees no signs of receding, and China's imports and exports slumping by more than 25 percent for the first quarter of 2009, it is better for Zhou and China to do something else, as more dollar proceeds are not desired.
Some U.S. commentators have written that China, with its huge and most dollar-denominated reserve, has driven ourselves into a "dollar trap", which we can neither get ourselves out, nor change the policies that put us in that trap in the first place. Some even claimed Zhou’s advocacy for phasing in world reserve currency showed China's "weakness".
Ironic, hmm… you bet. As the biggest holder of U.S. Treasuries, China is weak?
Since China is believed that it can do nothing with the dollars, but buying U.S. bonds (sorry no high-tech, no security-related assets like the Unocal, and military-usable know-how to Beijing!), won't it be worth trying something else with the yuan?
The article represents the author's view only. It does not represent opinions of People's Daily or People's Daily Online.


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VSMPO-Avisma Corporation produces titanium, aluminum, magnesium and steel alloys. Source: Press Photo
VSMPO-Avisma Corporation, the world’s largest titanium manufacturer, said it was looking at working on several projects with Indian partners. The Verkhnyaya Salda-based company recently hosted an Indian delegation that visited the mechanical processing unit, the forging complex the seamed tubes production unit.
VSMPO-Avisma Corporation is the world's largest titanium producer. Located in Verkhnyaya Salda, Russia, VSMPO-Avisma also operates facilities in Ukraine, England, Switzerland, Germany and the United States. The company produces titanium, aluminum, magnesium and steel alloys. VSMPO-Avisma does a great deal of business with aerospace companies around the world, such as Boeing and Airbus.
The Indian delegation consisted of representatives from the Russian-Indian Science and Technology Centre, employees of India’s Ministry of Science and Technology and executives from the state-owned Mishra Dhatu Nigam Limited (Midhani), which specialises in the production of specialised metals and metal alloys.
During the meeting with the delegation, Director General of VSMPO-Avisma Mikhail Voevodin spoke of the negotiations that the Russian titanium manufacturer had previously held with Midhani. Veovodin said cooperation between the two sides would prove to be very fruitful. The previously-held negotiations resulted in the signing a memorandum of Russian-Indian cooperation between VSMPO-Avisma, Midhani and the Russian-Indian Science and Technology Centre.
The memorandum calls for the implementation of joint projects that would help promote high-tech titanium products in promising sectors of the global market.
“Today we are talking not so much about creating a specific joint venture as we are about working out the directions where we can cooperate both at the company level and at the country level,” Voevodin said. “The areas that were identified during the negotiations are aviation, automotive industry and energy, among others. We will find out soon what kind of collaboration this meeting will result in.”
Digbijoy Giri, deputy director of Midhani shared Voevodin’s sentiments. “VSMPO-Avisma Corporation is the largest company in the world that produces titanium alloys. If we team up we can become a global giant in the production of titanium products. It is profitable to use a well-established technology for the production of titanium thanks to the time saved in the processing chain,” Giri said. “The experience of the corporation in titanium and other industries may be useful in establishing a joint Russian-Indian enterprise.”
The Director and Chairman of the Russian-Indian Science and Technology Centre G. Sundararajan said the members of the delegation found the visits very informative and interesting. “Our next task is for the Russian-Indian Science and Technology Centre to find potential customers in India who will be interested in Avisma Corporation technology... And of course, the best evidence of the successful outcome of this visit will be the start of a joint Russian-Indian enterprise.”
First published in Russian in Metalinfo.ru.
All rights reserved by Rossiyskaya Gazeta.
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No Christmas miracle for UK retail as sector flatlines in December
- 11 January, 2019
While December saw a positive uplift in the housing market, the same can’t be said for the UK retail sector.READ MORE
Online continues its retail take over with an 11% increase in the ...
- 21 October, 2018
The latest retail sales figures from the Office for National Statistics have been released shining a light on the current state of the UK retail sector.READ MORE
Are you prepared for the Christmas consumer onslaught?
- 06 October, 2018
The latest Shop Price Index from the British Retail Consortium was released last night, and the top line figures show good news for the UK retail sector as strong ...READ MORE


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CHICAGO (CBS.MW) - Shares of Kellogg headed higher Tuesday after the company said a sales growth and currency benefits from the anemic U.S. dollar will boost its first quarter profits by a nearly a third.
After the close of regular trade Monday, Kellogg
The Battle Creek, Mich-based maker of cereal and other food products cited "double-digit sales growth and stronger-than-expected foreign exchange translation" for the earnings boost.
Shares of Kellogg added 2 percent to close at $40.29 after touching a 52-week high of $41.25 earlier in the session.
Kellogg also upped its 2004 earnings per share outlook to between $2.07 and $2.11 vs. a previous range of $2.05 to $2.09 and a Street view of $2.10. The company earned $1.92 per share in 2003 and the 2004 numbers represent growth that is "modestly above the company's long-term target of high single-digit" increases.
The company said that the new profit range includes higher estimates for costs write-offs related to "capacity rationalizations and cost-reduction initiatives." It had been expecting to get hit by a nickel per share, but they are now expected to amount to 10 cents to 12 cents per share.
In a note to investors Tuesday morning, Piper Jaffray analyst Eric Larson wrote that the company is bucking some "negative consumer trends, including higher commodity costs and intense consumer focus on low carbohydrate diets, making its strong [first quarter] earnings even more impressive."
Larson added that he believes "Kellogg's business momentum is more company specific rather than a trend one can extrapolate across other industry participants. However, the next potential positive catalyst for the group could be improved pricing visibility as companies scramble to alleviate cost pressures."


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Louis Vuitton’s Asnières Workshop is Open to the Public
Louis Vuitton‘s historic Asnières workshop will open its doors to the public every weekend until October 27 so that guests can experience the new “Time Capsule” exhibition for free. The retrospective displays a compilation of the brand’s pieces, some dating back to as early as 1854, that were constructed in the Asnières workshops and later became touchstones in the designer’s legacy. Asnières has produced some of the most valuable pieces for the brand, including the LV trunk, and the reopening of the atelier to the public offers a truly unique opportunity to see the pieces at the workshop just outside of Paris on Line 13’s last stop.
Louis Vuitton’s Asnières workshop is located at 18, rue Louis Vuitton, 92600. Tickets for the workshop can be reserved online now.


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Marin Software and Facebook Team Up for Live Webinar on Cross-Channel Attribution
SAN FRANCISCO, CA July 6, 2017 — Marin Software Incorporated (NYSE: MRIN), a leading provider of cross-channel, cross-device, enterprise marketing software for advertisers and agencies, announced an upcoming webinar with Facebook, Facebook + Google: Bridging the Search and Social Divide. The webinar will take place on Tuesday, July 11th at 10 am PST.
According to a study Marin Software conducted with over 200 digital marketers, not only does a combined search and social strategy lead to more purchases—users who click a search and social ad contribute approximately two times more revenue per click than users who click search ads only. And, as the two major platforms that represented 99% of revenue growth from digital advertising in 2016 in the U.S. alone, Google and Facebook now have targeting and ad formats for every step of the customer journey— providing digital marketers with increased opportunities to meet goals and objectives.
The July 11 webinar will offer guidance for executing cross-channel advertising campaigns and cover solutions for measuring cross-channel success—including Atlas, Analytics, Offline Conversions, Facebook Pixel, and more. In addition, Marin and Facebook will provide insights into how a cross-channel marketing approach allows advertisers to measure performance accurately, and optimize and grow spend based on incremental revenue insights.
“We’re excited to join forces with Facebook to educate search and social marketers on how to best grow revenue and gain efficiencies. Measurement is a vital component of a digital marketer’s arsenal, and it becomes even more important as more marketers focus on the customer journey instead of the channel,” said Brett Loney, Product Marketing Manager - Social at Marin Software.
“As we continue to see non-stop innovation in the digital marketing space, the challenge for marketers becomes keeping pace and taking full advantage of all the latest tools and resources,” said Wes MacLaggan, Head of Global Marketing at Marin Software. “Marketers who focus on cross-channel capabilities and insights stand to gain a huge competitive advantage.”
The webinar is on July 11th, 2017 at 10:00 am PST (1:00 EST). Sign up on the webinar registration page.


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The new Acer Predator 17 X and Aspire V Nitro models have seventh-gen Intel Core CPUs.
This new PC gaming laptop line has some unique design features and new Nvidia graphics.
Get immersed in this multimonitor CES prototype from Razer, with two extra pull-out screens.
This high-end business 2-in-1 can charge by sitting on its own wireless base.
For makers, educators and IoT designers, this little board promises a lot more performance than its competitor.
The new 15.6-inch Yoga 720 sheds some bezel and gains graphics power and active pen support.
Reflecting growing privacy concerns, Lenovo puts a physical cover on the webcam of every business laptop.
This super-thin 17-inch gaming PC also gets a new CPU and faster RAM.
It’s been more than a year and a half since Microsoft released the last version of its hugely popular Surface Pro tablet. Could the next version come later this month?
With premium thin-and-light designs, these new laptops aim to offer a perfect mix of components and good looks.


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Europa has warned that more stringent rules on imports into the UK, due to be introduced on 1 January 2022, will present major challenges to the logistics sector in the months ahead. Sales and branch network director Dionne Redpath (pictured) said the 3PL giant had now successfully tackled the “absolute horror story” created by the UK’s departure from the EU. However, she added that this was merely a transitional period and the next big change will come at the turn of […]
The RHA is warning that customs posts on either side of the Irish border would harm the economy.
Meachers Global Logistics has warned operators to prepare for changes to importing animal products from the European Union to avoid more delays at the border.
Government urged to repair key Scottish road link after landslips lead to record breaking level of closures
Business leaders in Scotland are demanding the government commits to fixing a notorious stretch of road on the A83 plagued by major landslips.


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Samsung is one of the biggest Tech-giants, who manufacturers smartphones all over the world. Samsung is famous for its premium flagship devices and tech- accessories. The company’s smartphones and other electronic gadgets have received many positive reviews and ratings so far. Everyone is familiar with the Samsung M-Series, which are the affordable mid-range devices in India. Recently Samsung has released Samsung Galaxy M31s which has received positive reviews due to its awesome specifications and most importantly its beautiful display. The company has introduced its AMOLED Infinity-O displays to its M-Series making them attractive buying option for customers. Now several leaks about the new Samsung Galaxy M51 have surfaced online, here are they…
Leaks about the new Samsung Galaxy M51
As per the leaks, the device might come with the AMOLED Infinity-O Panel again along with a flat 6.67” FHD+ panel. Talking about the refresh rate, the device might feature the same standard 60Hz. When it comes to the chipset the device might come with the Snapdragon 730G together with Adreno 620GPU.
Not only recent leaks, but the leaks about the chipset have been surfacing the internet for many weeks. To support this statement, few listings of a new Samsung device has appeared on Geekbench listings and it might be the Samsung Galaxy M51. When it comes to the memory variants the device might come with 8GB of RAM along with 128GB of ROM.
The device might feature rear quad camera setup with the 64MP as the main shooter. Just like other devices under M-series, this device has a single front camera which is situated in the holder punch of the display. The battery on the latest M31s is the 6000mAh and as per the leaks, the new M51 will have a mind-blowing 7000mAh battery.
As of now, there is no info about the device from Samsung but an official support page of the device has appeared on Russia’s Samsung Website. From this, we can say that the device is real and the company might reveal the device soon


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The circular economy in Europe continues to enjoy it’s time in the spotlight, and with good reason. According to the European Commision, the Circular Economy has the possibility to create 700,000 jobs and increase GDP by 0.5% in the EU by 2030.
Of course, it’s an opportunity that entrepreneurs have seized across Europe and on a global scale. Why? Well, fundamentally it makes business sense. As well as the fact that circular economy is expected to generate a net economic benefit of €1.8 trillion by 2030, it also combats the systemic issue that “future consumption and production patterns are so monumental that they cannot be managed in the way we organise these patterns today”.
In recent years we’ve witnessed the impressive and rapid growth of a few circular economy giants who have become household names on the startup scene. Startups such as Grover, the rentable technology platform, and Too Good to Go, a food waste reduction startup who have raised a total of €342 million and €37.5 million respectively.
In this article however, we’ll be taking a look at some of the younger, upcoming circular economy based startups set to follow in their footsteps.
Read the full article from EU-startups here


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As noted by The Mac Observer, Apple has slashed the price of its 768GB Flash Storage option for the company’s latest 27-inch iMac. Previously, the build-to-order component added an extra £1,040 ($1,300) to the total price of the machine, but now it’s available for £720 ($900).
Since they first went on sale back in October, Apple’s latest iMacs have been in short supply – leaving some customers with a wait of up to six weeks before they received their orders. But finally, the situation appears to be improving. Apple has slashed shipping estimates for the machines on a number of its online stores.
If you picked up a Retina MacBook Pro as soon as they went on sale, you may have been a little disappointed when Apple announced a few improvements to them last week. But don’t feel too downhearted; according to the latest benchmarks, the new models are only 3-5% faster than their predecessors.
During the latest episode of the excellent International Mac Podcast, the panel discussed what Apple’s rumoured next Mac Pro could look like, and invited listeners to submit their own ideas. Admittedly, I’ve taken their request a little too seriously – but once I’d started, I couldn’t stop. And these are the results, seven Mac Pro concepts based (literally) on one of Apple’s other machines – the Mac mini.
Following the earlier news that a small number of its employees had their computers hacked through a Java plug-in vulnerability, Apple has released a new version of Java for OS X Mountain Lion, Lion and Snow Leopard which promises improved security by updating Java SE 6 to 1.6.0_41.
AllThingsD reports that a small number of computers owned by Apple employees were hacked through a vulnerability in the Java browser plug-in. The attack, which was first highlighted by Reuters, was apparently carried out by the same group of China-based hackers that recently targeted the machines of Facebook employees.
Once you’ve used an Apple device with a Retina display, it’s hard to go back. As much as I love my iPad mini, its display is nowhere near as pleasing to look at as my iPhone’s. Apple clearly recognizes this, and it’s been working to bring Retina displays to as many of its devices as it can. A new rumor claims that the Cupertino company will launch its first Retina MacBook Air later this year.
Last month, Apple revealed that it was to stop selling the Mac Pro in Europe due to new regulatory rules coming into effect on the 1st of March, and that resellers had until the 18th of February to place orders for the machine. At the time it was thought that the order deadline only applied to resellers, but as of today the Mac Pro is listed as unavailable on Apple’s European online stores.
NewerTech’s miniStack MAX went on sale through Other World Computing this week, and it’s a must-have for any Mac user. Not only does it boast a hard drive, but it also has a Blu-ray/CD/DVD reader and burner, an SD card reader, and a USB hub. It’s the all-in-one solution for your media needs.


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The women’s day is round the corner. With this year’s theme being “Women empowerment” Today, for a Sustainable Tomorrow,” brands have started creating campaigns aligned with it to highlight the contribution of women and girls across the globe who are working towards building a more sustainable future for everyone. Here are some top brands that are drawing attention with their unique social message.
Kalyan Jewelers has launched a digital campaign called ‘I am more than enough’ featuring regional brand ambassadors of the brand Ritabhari Chakraborty, Pooja Sawant, Wamiqa Gabbi and Kinja Rajpriya. The campaign highlights how women have been put into boxes by society, and how important it is for these women to get out of those boxes. The campaign conveys that today’s modern Indian woman is smart enough to recognize that being called as ‘too much’ is only society’s way to hold her back.
One of India’s leading beauty and personal care brand, with its philosophy of being clean, real and good has launched #PlumGoodnessStories, an initiative to celebrate the stories of goodness with several unique manifestations. It aims to celebrate the little things in life, even if it does not turn into success. The brand is celebrating the efforts of women who strive to make the world a better place through their work.
Evergreen club, an online community for older adults has launched a proactive Women’s Day campaign #LadyActYourAge to highlight age-related stereotypes faced by elderly women. A 90-second campaign films explores the conflicting message where women have been judged about how they should look, behave and live as they grow older. The campaign aims to beat gender and age-related stereotypes, giving elderly women the freedom to make their own choices.
With the new campaign, #RiseLikeHer, Flipkart aims to encourage women of India, to follow their passion and to live life on their terms. The film celebrates women entrepreneurs, leaders and appreciates their firmness as well as resilience.
Sahara India Pariwar
With the #empowerHER campaign, Sahara India Pariwar has yet again made a remarkable effort to send a social message that being a women itself is a superpower, and that women are capable of achieving everything. Through its series of social messages, it has portrayed that women have made us proud on all fronts; be it sports or finance, science or arts, they have excelled in every stream. Through #empowerHER campaign, Sahara India Pariwar aims to encourage all the Indian women to follow their passion relentlessly without any fear.
Hyundai Motor India
Automobile company, Hyundai Motor India Ltd. (HMIL) has launched a campaign called ‘The drive Within’. Centered aroud the story of four Indian women cricketers Taniya Bhatia, Smriti Mandhana, Jemimah Rodrigues and Shafali Verma, the campaign aims to inspire and motivate young women through these athletes’ journey of struggles.
Prega News’ Women’s day campaign, #SheCanCarryBoth celebrates boundless spirit of womanhood. The campaign highlights the society’s misconception that being a working woman means limitations to the various aspects of life. It portrays that women neglect the joys of womanhood, while focusing on their career. The campaign harbors a sense of inclusivity, motivating the women to celebrate their various phases of womanhood, without compromising on their ambitions and dreams.
Wow Skin Science
One of India’s leading personal care brands, Wow Skin Science has dedicated a special film as a tribute to all its women workforce who brought this company to life through their relentless efforts each day. The film titled #SheMakesUs transpires a day in the life of WOW Skin Science’s women staff and reiterates their role as the actual force behind the success of the company, thanking them through its powerful and emotional message.
Zomato Faces Backlash Over New Pure Veg Fleet: Embraces ‘Red Reality’
Apple Google AI Deal: 21st Century Tech Collab to Integrate Gemini-Like Features in iOS
With this deal, Google will be able to tap into Apple’s 1.4 billion active user base worldwide and expand the reach of its AI, Gemini, to a new stratum of users.
The ‘Paramount’ Sale of Viacom18’s 13.01% Stake to Reliance Establishes Mukesh Ambani as Asia’s Media Mogul
Paramount Global has been aiming to improve its balance sheet after ending last financial year with a long-standing debt of $15 billion.
Adani-Qualcomm Meeting Sends Sparks Across the Indian Tech Ecosystem
91Club: The Gaming Platform To Earn Real Money
Play and Win: 91Club, Where Gaming Means Real Money
Daman Game: Where Fun Meets Real Rewards
Game On with Daman: Where Entertainment Pays Off!
TATA’s Tech Revolution: Venturing into Chipmaking
TATA Prepares to Venture into Chipmaking Business: Becoming the Herald of Change and Development in the Indian Tech Ecosystem
BharatGPT’s Hanooman: Desi Artificial Intelligence Ready For March Public Launch
The Indian tech scene is about to witness a dramatic makeover as BharaGPT prepares the public launch of the ‘Made In India’ AI, Hanooman.
OpenAI Launches SORA, its Text-to-Video Generator Model
How a Homegrown Indian Sneaker Brand, Gully Labs is Embracing Indianism
Gully Labs: Redefining the sneaker culture in India
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Physics Wallah Edtech: A Revolutionary Success Story
From YouTube to Billion-Dollar Valuation: Explore how Physics Wallah transformed India's EdTech landscape with affordable education.
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Ola Electric Temasek Fundraise: Ola Electric Mobility Pvt Ltd Receives $140 Million Boost from Temasek to Accelerate Growth
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Future-Ready Finance: CRED’s Ambitious Plans and Unconventional Success Story
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Pepsi Celebrates its Historic 125th Anniversary with 125-Day-Long Campaign
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Snitch, a fashion label for Men’s wear, records ARR of a whopping 100 crores in Q4 of FY’22
D2C fashion brand Snitch attracts an annual return of Rs. 100 crores within 2 years of its inception, aims to become India’s biggest fashion brand for men.
Analysis7 months ago
Indri Whisky: India’s Rising Star in the Global Whisky Arena
India's Rising Star in the Global Whisky Arena
Campaign6 months ago
BlackRock Company: World’s Richest Company with $9.42 Trillion Magic on Global Finance, Challenges & a Lot More
BlackRock Company: $9.42 Trillion Magic, Shocking Impact on Global Finance
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Apple Warns Of State Sponsored Attacks; All You Need to Know About the Latest Cyber Scare and the Lockdown Mode
Apple unexpectedly made its way into the Indian political landscape when it sent out notifications to several prominent. Indian politicians, activists and media personalities alerting them of a ‘State-Sponsored Attack’.


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Thousands of Resources. Ready to help.
Michigan Business Success Stories
From Albion, Michigan to Argentina and Mexico, Challenger Communications, an antenna systems manufacturer, exports to global markets.
Ethel's Baking Co.
Ethel’s Baking Co. made its mark as the premier wholesale and retail baking company producing hand crafted gluten-free dessert bars and cookies for consumers across the U.S. and Canada.
On its journey to create a revolutionary and life-saving technology, Ann Arbor-based startup Fifth Eye found access to the support and ecosystem it needed thanks to the MEDC.
From their meager beginnings in a pole barn in the Upper Peninsula, Northern Wings has discovered that with the help and support of MEDC and its network of partners, the sky is the limit for its continued success.
Out-of-state company Waupaca Foundry chose to make the Western Upper Peninsula its latest home for opportunity thanks to Michigan’s wealth of manufacturing know-how and a work ethic that is second-to-none.


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Lenovo's recently launched mobile VR game will add a way to fight two Praetorian Guards from The Last Jedi, among other additions.
The game uses a special smartphone-powered AR headset, along with a lightsaber controller, to turn you into a Jedi Knight.
Pilot an X-Wing and save the galaxy in an all new Star Wars experience!
Experience Google Cardboard through 2 new Star Wars themed viewers
Although the experience is receiving a healthy portion of poor reviews, Star Wars: Trials on Tatooine has just launched on the HTC Vive.
Disney has just announced that it's making a new VR experience based around the iconic Darth Vader.
Trials on Tatooine is a new VR experience that gives viewers the opportunity to wield a light saber of their own, while meeting iconic characters such as R2D2 ...


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zANTI2 is one of the most powerful tools for penetration testing on Android devices. Sadly, there are not many ways to learn about its mighty functions, thus many useful things are left undiscovered. Well, not anymore. A brand new guidebook to Android penetration testing is here!
Thursday, September 3, 2015
Thursday, July 30, 2015
A security company standing behind the zANTI application - Zimperium, has recently discovered a new vulnerability called Stagefright. This new security flaw affects roughly 95% of all Android devices running Android 2.2 all the way to Android 5.1.1 Lollipop. And how to project yourself from it?
Saturday, July 18, 2015
Monday, June 8, 2015
Android M has revelaed a fine amount of new features, including the new vercial-scrolling app drawer in Google Launcher. Some don't like it, some do - here's how to get it on your non-Nexus device as well!
Friday, May 29, 2015
Boooom! Android M preview is out. For those that already flashed it, there might be a really really cool thing for you to try. In fact, Android M comes with multiwindow. It's experimental but seems to be working. Let's try it out!
Sunday, May 17, 2015
It's been a little while since the new Samsung flagship reveal, that also showed us the new version of Touchwiz followed by bunch of new apps, mostly with a new Material Design-ish overhaul. Guess what, they are ported!


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The divide between economists and financial markets about the timing of the first Reserve Bank cash rate increase is narrowing, as economists conclude that the global tightening cycle and a rapid economic rebound will force the hands of Martin Place.
A snap survey by The Australian Financial Review of 28 economists showed they have significantly brought forward their guidance on the first cash rate increase by six months to February 2023 after strong inflation data that forced the RBA to signal a possible tightening in late 2023 and upgrade its own CPI projections.
The new RBA guidance represents an acceleration of its previous schedule of “not before 2024”, but is still too dovish for the market’s liking.
At the same time, debt futures markets price in nearly four rate increases to take the cash rate to an implied 0.94 per cent by late 2022, with the first move fully priced in June 2022. Last week, they had priced in a 75 per cent chance of a rate hike as early as February 2022, but the RBA’s patient stance has extinguished the most hawkish bets.
“We expect a faster path to hikes due to a stronger starting point for inflation and greater uncertainty over the persistence of higher global inflation and some upside risk to wages amid higher inflationary expectations,” said Su-Lin Ong, chief economist at RBC Capital Markets, one of the 17 respondents who have altered their predictions.
Ms Ong now sees a rate rise in early 2023, from later that year.
A global debate is raging over whether price increases related to COVID-19 supply chain disruption are temporary, or becoming embedded in both higher actual inflation and inflation expectations.
Earlier on Thursday, Federal Reserve chairman Jerome Powell restated his view that current high inflation was expected to be transitory, though he conceded there were upside risks to his central scenario. Inflation for the last five months has been running at twice the Fed’s 2 per cent target.


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MAXIMA GRUPE, UAB
Maxima Grupė’s results for 2018: a year of growth and integration
In 2018, Maxima Grupė’s consolidated revenue grew by 22.1 percent compared with 2017 to EUR 3.451 billion; consolidated EBITDA reached EUR 223.6 million. The Group invested more than EUR 88 million into fixed assets and opened more than 100 new stores in all markets, most of them – in Poland.
“2018 was a special year for Maxima Grupė – it was a year of growth and integration. Acquisition of Polish retail chain Stokrotka last spring, was an important milestone. Having completed this deal, we have become the largest Lithuanian capital investor in Poland. Another important achievement in our plans for further international growth was receiving a BB+ credit rating and successfully placing EUR 300 million issue of 5-year bonds. Our daily operations in 2018 were also solid. Revenue grew by more than 22 percent fuelled by the acquisition of Stokrotka together with a help of a healthy revenue increases in the Baltics and Bulgaria. We continued opening new stores and modernizing the old ones, improving customer service, and introducing innovative solutions in our stores,” says Justas Riauba, the chairman of the board and CEO of Maxima Grupė.
Maxima Grupė’s revenue in 2018 grew by 22.1 percent. This growth was mainly attributable to the acquisition of Polish retail chain Stokrotka. In Lithuania and Latvia revenue grew by 5.9 percent and 6.4 percent respectively, while Estonia showed a more modest growth of 3.8 percent mostly impacted by a slower overall retail market growth. In Bulgaria revenue grew by 19.4 percent driven by new store openings and double-digit market growth. Like-for-like sales grew by 1.6 percent on a consolidated level, while the Baltics markets like-for-like grew by 1.7 percent and Poland combined with Bulgaria – by 1.2 percent.
In 2018 Maxima Grupė invested EUR 88.1 million into fixed assets – up from EUR 70.4 million in 2017. The investments were directed into opening new stores, reconstructing existing stores as well as strategic investment projects, such as increasing the number of self-service checkouts.
During 2018 a total of 107 new stores were opened, 84 of them – by Stokrotka in Poland after Maxima Grupė acquired Emperia Holding. Another 39 stores were reconstructed in all markets. Additionally, 30 stores in Poland were converted from Aldik to Stokrotka. Retail floor space correspondingly increased by 43 percent. More than 40 thousand employees worked for the group’s companies during the period.
The group’s EBITDA grew to EUR 223.6 million in 2018 from EUR 149.5 million in 2017 (49.6 percent increase year over year). Major part of EBITDA increase came from FRANMAX (company that provides franchise and support services for Maxima Grupė companies) which became a part of Maxima Grupė at the end of 2017. FRANMAX added EUR 48.4 million EBITDA to Maxima Grupė’s result in 2018. The remaining growth in EBITDA is attributable to growth of sales and increased efficiency in existing businesses as well as acquisition of Stokrotka.
Sales of goods through e-commerce channel grew by almost 50 percent in the Baltics due to expansion of e-grocery brand Barbora to Kaunas and Klaipeda in Lithuania. Barbora was also introduced in Latvia and Estonia which helped to grow e-trade channel sales of Maxima Grupė.
Mob.: +370 614 74046


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Ajanta Pharma Q4 profit down 17% at Rs94 crore
For 2017-18, Ajanta Pharma’s profit after tax was at Rs468.64 crore as compared to Rs506.83 crore in 2016-17
New Delhi: Ajanta Pharma today reported 17.13% decline in profit after tax (PAT)at Rs94.49 crore for the quarter ended 31 March 2018 impacted by decline in institutional business in Africa.
The company had posted PAT of Rs114.02 crore in January-March 2016-17, Ajanta Pharma said in a BSE filing. Revenue from operations stood at Rs530.31 crore in the quarter under review. It was at Rs476.81 crore in the year-ago period.
Ajanta Pharma said revenue from operations were not comparable over previous year due to implementation of GST from 1 July last year as sales have been recorded as net of GST whereas earlier sales were recorded gross of excise duty which formed part of expenses.
Ajanta Pharma managing director Yogesh Agrawal said: “During the quarter, we have performed well in the Africa branded generic space. Whereas branded generic business in India and Asia performed below our expectations.”
There was a lot of movement in the Africa institution business that saw de-growth of 22% which has impacted the overall quarter performance, he added. “Considering the challenging pricing environment in the US, we have performed much better relative to our competitors who have seen much sharper price erosion,” Agrawal said.
For 2017-18, the company said, its PAT was at Rs468.64 crore as compared to Rs506.83 crore in 2016-17. Revenue from operations was at Rs2,130.86 crore as against Rs2,001.64 crore in 2016-17, a growth of 6.46%.
“Going forward, we will continue to focus on the branded generic business in India and emerging markets,” Agrawal said. The company said in India, its sales rose 6% at Rs148 crore in the fourth quarter, whereas for the full year the same were at Rs629 crore at a growth of 2%.
Export sales in March quarter were at Rs348 crore, up 10%. For the full year, exports were at Rs1,434 crore, posting a growth of 9%.
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Mid-roll video ads have the highest completion rate of in-stream units, finds VINDICO, the New York-based online video ad management platform.
In a study of millions of video impressions for consumer and packaged goods ads, the company found completion rates about ten percent greater for mid-roll compared to pre-roll.
We spoke with company president Matt Timothy about the value and opportunities around mid-roll advertising.
Mid-roll is generally inserted into longer form content, mostly full episode programming.
Some big publishers like CBS Interactive are starting to focus on using just mid-roll advertising and not pre-roll, as sales chief Ken Lagana told us in August.
comsScore: Specific Media Has Greatest Biggest Reach of "Ad Properties"
ComScore ranks VINDICO, listed as Specific Media, in the top five biggest online video advertising platforms with the biggest "reach" of total U.S. population.