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Kitex Garments profit rise 16% for FY19
Kitex is a leading supplier of infant wear to the big global and retail brands with 90% of the export going to the US and the rest to the European countries.
Cochin Shipyard Q4 profit up 6.41% at Rs 98 crore
Total income on standalone basis for the said quarter rose 33.48 per cent to Rs 852.58 cror...
Bosch Q4 profit dips 5% to Rs 412 crore
Revenue from operations for January-March quarter stood at Rs 2,749.15 crore as against Rs 3,158.03 c...
Not all analysts bearish on Tata Motors despite Q4 net decline
CLSA recommended a sell rating on Motors with a target price of Rs 150.
Tech Mahindra Q4 profit beats estimates; key takeaways
Total revenue in March quarter increased 6.50 per cent YoY and 0.39 per cent QoQ to Rs 9059.40 crore during the quarter under review.
BPCL cracks over 4%; brokerages mixed after Q4 numbers
Brokerages have mixed views on the stock following the March quarter results.
Tech Mahindra Q4 profit falls 7% YoY to Rs 1,133 crore; firm announces Rs 14 dividend
Ebitda jumped to Rs 1,638.70 crore from Rs 1,411.90 crore on a yearly basis.
Chit fund case: SC refuses urgent listing of Rajeev Kumar's plea for further protection from arrest
A three-judge bench headed by Chief Justice Ranjan Gogoi had on May 17 withdrawn the protection from arrest granted earlier to Kumar.
Jindal Stainless allowed to exit CDR; posts 72% fall in Q4 profit
The company’s lenders allowed it to exit the corporate debt restructuring (CDR) process.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service


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Pet owners shopping at the Davis-Monthan Exchange on May 9 will have the chance to “fetch” a share of $250 in the Patriot Pet contest.
Event starts at 11 a.m. on March 9, Best-in Show $100. Best Behaved Pet $50, Best Dressed Pet $50, and Pet/Owner Look-A-Like $50.
“Pets are a huge part of our extended Patriot Family,” said the Davis-Monthan Keigan Wilburn, Sales Area Manager. “This contest gives animal lovers of all ages the chance to show others why their two-, four-, six- or even eight-legged friend is such a special part of their home.”

domain: news


text: FXStreet (Córdoba) - Sam Bullard and Sarah House, economists at Wells Fargo, point out that today’s Producer Price Index data shows that inflation remains a hurdle to the Fed’s liftoff. Key Quotes: “Led by energy, headline producer prices fell a greater-than-expected 0.5 percent last month. Core producer prices also fell on the month, reflecting the broad based weakness of the September report.” “Marking the first monthly decline since April, PPI-final demand fell more-than-expected in September as weakness was pervasive throughout the report. Prices for final demand goods fell 1.2 percent last month, with lower energy prices accounting for over 80 percent of the decline.” “Consistent with last week’s import price performance, today’s producer price report continues to reflect a benign inflation environment. With expectations of a similar performance out of CPI, low inflation remains a hurdle to the Fed.” For more information, read our latest forex news.


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DETROIT — Computers that control cars of the future can be considered drivers just like humans, the federal government’s highway safety agency has decided.
The redefinition of “driver” by the National Highway Traffic Safety...
DETROIT — General Motors is recalling more than 473,000 trucks and SUVs in the U.S. and Canada because the brake pedals can come loose and fail to work properly.
The recall covers certain 2015 and 2016 Chevrolet Silverado HD, GMC Sierra HD...
DETROIT — Electronic gear shifters on some newer Fiat Chrysler SUVs and cars are so confusing that drivers have exited the vehicles with the engines running and while they are still in gear, causing crashes and serious injuries, U.S. safety...
FRANKFURT — Volkswagen and Audi say they are recalling 850,000 vehicles with suspect air bag inflators in the United States.
Volkswagen says it has notified the U.S. National Highway Traffic Safety Administration of the upcoming action...
DETROIT — Subaru is recalling 82,661 Tribeca SUVs because their hoods can open unexpectedly while driving.
The recall involves Tribecas from the 2006-2014 model years. Most were sold in the U.S., but 5,661 were sold in Canada.
Subaru says... Read More
DETROIT — Bridgestone-Firestone North America is recalling nearly more than 36,000 heavy truck tires in the U.S. and Canada because the tread can separate from the body and cause the tires to fail.
The recall covers 22.5-inch Firestone FS561... Read More
DETROIT — Mazda is recalling some SUVs because the fuel filler pipe can rupture in a rear crash and cause a gas leak and possible fire.
The recall covers nearly 237,000 CX-5 SUVs from the 2014 and 2015 model years.
The problem was... Read More
DETROIT — Toyota’s youth-oriented Scion brand is recalling about 28,000 FR-S sports cars in North America because drivers can take the keys out of the ignition without the car being in park.
The recall covers cars with automatic... Read More
This time around, another mechanic pal and another story of a customer who feared the worst when her ride’s air conditioner and defrost system (apparently) called it quits.
My pal Nick Labrie, a mechanic in Sudbury, Ontario told me about a... Read More
Q: I have an all original ’86 Cutlass Supreme Brougham with a Canadian 305 CID motor and 200r4 auto o/d transmission. The original transmission had developed a hard clunk when going into gear from Park or Neutral and a local transmission shop... Read More
Vehicle type: luxury utility
History/description: A compact take on Land Rover capability and luxury culminated in the LR2, which came online for model-year 2008 with an eye for attainable pricing, manoeuvrability, and all-season, all-surface... Read More
Vehicle type: Crossover
History/description: The latest full-generation Kia Sportage launched for model-year 2011 offering two or four-wheel drive, four-cylinder power, and numerous grade levels and option packages to suit a variety of needs and... Read More
DETROIT — Nissan is recalling nearly 930,000 Altima midsize cars worldwide — some for a third time — to fix a latch problem that could let the hood fly open while the cars are moving.
The new recall covers cars from the 2013 to... Read More
DETROIT — Toyota is recalling about 320,000 trucks and SUVs because the roof-mounted air bags can inflate without a crash.
The recall covers the 2005 and 2006 Toyota Tundra and Sequoia, the 2003 through 2006 Land Cruiser, and the 2004... Read More
Off-roading and diesel engines would seem to go hand-in-hand — low speeds combined with gobs of low-speed grunt.
In this sense the Jeep Grand Cherokee equipped with the six-cylinder EcoDiesel engine is a winner.
But what about a luxurious... Read More
This year, the Automobile Journalists Association of Canada’s technology panel selected General Motor’s rear camera mirror as the Best New Technology in the Safety category.
Offered on the 2016 Cadillac CT6, the rear camera mirror... Read More
The Jeep Renegade and Fiat 500X are twins under the skin — almost. They are built in Italy and share the same architecture, drivetrain and other mechanical bits and pieces.
But one was designed in the U.S. and the other in Italy.
That... Read More
WHILE COMPACT SUVs and crossovers have become the largest and fastest growing segment of the Canadian market, mid-sizers are still a hot commodity with the Ford Edge and Escape holding down two of the top three places in this very crowded segment... Read More


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Professor Tom Smythe to speak at SEC Evidence Summit
Furman University Business and Accounting Professor Tom Smythe has spent his academic career researching how consumers make decisions about investing in mutual funds. And Smythe will share that research when he speaks at the Evidence Summit of the U.S. Securities and Exchange Commission (SEC) on March 10 in Washington, D.C.
Furman psychology professor Beth Pontari, who worked with Smythe on a 2009 mutual fund study that made national news, was also invited to speak at the summit but was unable to attend.
The summit, which marks the official launch of the SEC’s new investor research initiative, brings together experts to discuss strategies for raising retail investors’ understanding of key investment characteristics such as fees, risks, returns and conflicts of interest. Smythe will participate in a panel discussion titled “How can the SEC improve the disclosure of discrete items like fees, strategies/risks, and performance?” A total of 15 panelists will take part in three different panels.
Smythe’s 2009 study, which was widely reported in the Associated Press and also involved Radford University researcher Andrea J.S. Stanaland, found that even though the fees and expenses associated with a mutual fund can greatly affect a shareholder’s return, consumers are more likely to focus on past performance and virtually ignore cost information.
Since costs and fees often have a more substantial impact on how well a mutual fund performs for the shareholder over time, the researchers also looked at how consumers responded to advertisements containing explicit cost information. “When it comes to investing in mutual funds, consumers tend to make less than rational decisions and often fail to use some of the most important information available to them,” Smythe said at the time.
A member of the Furman faculty since 2001, Smythe teaches course in Business, Corporate Finance, Investments Management, Financial Institutions and Personal Finance. He has been quoted or his work cited in the Wall Street Journal, Financial Times, USA Today, Consumer Reports, Money Magazine, and CNN Money. He is a graduate of Furman, and holds a M.B.A. from George Mason University and a Ph.D. from the University of South Carolina.
For more information, visit the SEC website or contact Furman’s News and Media Relations office at 864-294-3107.


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Are you a gadget lover, not a doctor? International teams are working to create portable devices that could quickly and easily detect common ailments.
Every night, 140 of the shipping giant's planes land in Memphis, Tenn., at FedEx's World Hub. CNET Road Trip 2014 watches as things get sorted out.
Though it doesn't deliver the best photo quality, the sum of the Olympus OM-D E-M10's design, performance and features add up to a nice upgrade from a point-and-shoot.
Uber has been pelted with criticism over price surging and aggressive recruiting tactics, but that's what happens when you get too big, says the company's leader.
Long-distance ride-sharing network touts itself as an inexpensive alternative to planes and trains.
Ever wanted to hold a nebula in your hands? Well now you can thanks to plans from NASA. Warning: It kind of looks like two molars stuck together.
This wedding will be remembered for many things, but mostly because the new bride got a 3D-printed ring with an ultra-rare, honest-to-goodness lunar rock.
Apple says at WWDC that it has so far sold 80 million Macs and 40 million people have downloaded its operating system.
It's no surprise at the IFA show to see another manufacturing power join the smartwatch market. But weren't Netbooks left for dead after consumers moved to tablets instead?
US Patent and Trademark Office grants 59 patents to the iPhone maker, adding to its already huge trove of intellectual property.


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Showmax's new service, Showmax Pro, comes with music, news and live sport streaming from SuperSport, in addition to movies, series, Kids' shows and much more.
Kenyan businesses are increasingly using digital ads to increase brand awareness, improve product sales, generate leads, drive repeat purchases and boost ROI.
The first fare-paying passengers boarded the "Madaraka Express" on the SGR on the 54th anniversary of Kenya's attainment of independence. More on TUKO.co.ke.
Co-op Bank’s internet banking offers a simple & easy way to conduct your banking through your computer or mobile device & automate savings to your account.
Netflix founder Reed Hastings started his career as a salesman until he eventually started Netflix and made his way to becoming a billionaire. Small beginnings.
Financial secrecy is believed to help the rich escape from financial regulations, facilitate embezzlement, money laundering and other corrupt evils in Kenya.


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Japanese cosplay and anime merchandise brand, COSPA, has been selling a ton of official cosplay merchandise last year. Now, much like 2016 and 2015, they have finally revealed which costumes were sold the most back in 2017. Now, these results are based on their sales records, and not on opinion like most rankings. So without further ado, here are the Top 10:
10 – Attack on Titan Survey Corps Costume set (Levi ver.)
9 – Madoka Magica Mitakihara Middle School’s girls’ uniform
8 – Kantai Collection Shiratsuyu Class Remodel Uniform
7 – Re:Zero Rem and Ram’s maid uniform
6 – Persona 5 Shujin Academy’s boys uniform
5 – Kuromorimine Girls High School uniform from Girls und Panzer
4 – Kitauji High School girls’ uniform from Sound! Euphonium
3 – Toyogasaki High School girls’ uniform from Saekano: How to Raise a Boring Girlfriend
2 – Otonokizaka High School’s girls’ uniform from Love Live!
1 – Uranohoshi Girls’ High School’s summer uniform
Last year, Sound! Euphonium’s Kitauji High girls’ uniform unseated the always-dominant Love Live! costumes. Now, it seems that the Love Live franchise came back with a vengeance, because they didn’t just take the top spot, but second place as well!
Don’t miss a single update from SGCafe! Follow us on Twitter: @SGCafe
Also join in on the community’s discussions at http://forums.sgcafe.com


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With less than half of consumers satisfied with mobile retail experiences, a stronger emphasis on true personalization, mobile wallets and location-based services is needed, according to new research released today by Adobe.
Articles Tagged ‘mobile’
Anheuser-Busch’s Bud Light brand is uncapping its foray into smart home devices with a Wi-Fi-enabled refrigerator, allowing consumers to control the appliance’s interior temperature and order beer for home delivery via a complementary mobile application.
Starwood Hotels and Resorts’ Element brand is driving stays at its properties and rewarding consumers with wearable device prizes as part of a collaboration with Fitbit that asks fitness enthusiasts to take a virtual walk around the world and log their milestones.
Mobile Minutes: Smartwatches cannibalize smartphones; Twitter’s new CEO; Unbundling Android search; Second screens at MIPJrOctober 6, 2015
Today in mobile marketing – Wear alone smartwatches will cannibalize 70pc of the smartphone market; Twitter appoints Jack Dorsey CEO, seeks new chairman; Google told by Russian regulator to unbundle Android search; MIPJr: ICarly creator says more screens boost business.
Mobile Marketer today – Top 10 mobile advertising campaigns of Q3; Campbell’s devotes 40pc of media buy to digital, mobile platforms.
Since my March 17 article about key trends in luxury retail, we have seen multiple innovations in the world of luxury retail and previously nascent trends now taking shape.
Walgreens, Express and Target are paving the way in serving mobile and social experiences that boost sales and innovate within the commerce field.
Walmart is expanding its grocery pickup service, which enables customers to shop their lists online or on mobile and retrieve items at a pre-selected time, bringing it to eight new regions as mass-market retailers compete for a larger share of consumers’ wallets.
California Pizza Kitchen is inviting consumers to discover their pizza personality on a mobile and online platform, evoking the quizzes often seen on social media to drive sales for two-limited edition menu items.
DoSomething.org is leveraging mobile search to highlight social causes important to young consumers by accepting a 10 cent donation from Yahoo for every eligible search performed on a mobile browser throughout October.


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Less than a year after the GHMC prohibited the use of below 40 micron plastic bags, the ban seems to have gone for a toss
The ugly old plastic carry-bags are back in circulation. Be it fruit sellers or vegetable vendors, everyone these days is packing their wares in wafer-thin plastic bags. Less than a year after the GHMC prohibited the use of below 40 micron plastic bags, the ban seems to have gone for a toss. There is definitely a slowdown in implementation and taking advantage of this, traders have reverted to the slim plastic bags. The corporation banned plastic bags up to 40 microns from July 1 last year to phase out non biodegradable and environmentally harmful plastic material.
Initially, the ban was enforced strictly with the result that even small retailers and push-cart vendors adhered to the specified thickness of bags. But over the last few months there is total slackness in implementation of the rule resulting in the thin bags making a comeback.
“A kilogram of plastic bags of 40 microns costs Rs. 250, while the ordinary ones come for just Rs. 100 and also they are double in number,” says a milk vendor at Nampally market.
Many traders are under the impression that the GHMC has done away with the ban. “For the last four months nobody has checked what kind of plastic bags we are using,” says Aijaz, a kirana merchant at Bazar Guard.
Soon after the ban was announced, the GHMC levied hefty penalties on traders for not sticking to the specified thickness of plastic carry-bags. Even small vendors were penalised Rs. 500 to Rs. 1,000. But now there is no such penal action. This has only given credence to the impression that the rule is no longer in vogue.
Mayor Majid Husain too is upset about the poor implementation of the plastic ban. “We will take up a drive again and make surprise raids and see that everyone follows the rules,” he said. The slackness in implementation coupled with the high price of plastic bags of over 40 microns has sounded the death knell of an environmentally-friendly policy decision. However, this is not the case with big shopping malls and stores. Here customers are given high quality plastic bags. Even in Nehru Zoological Park the implementation of plastic ban is much better.


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WASHINGTON – A new digital currency backed by gold is billing itself as a more compliant, liquid and ultimately reliable store of value than decentralized systems such as bitcoin.
CMO Inc., doing business as COEPTIS, has been beta testing its digital currency platform for two months and over the next two weeks will be expanding its membership to the invitation-only platform.
COEPTIS issues its own digital currency, calling it Global Standard Gold (AUG), which is backed by physical gold and held in a trust account. The digital currency is issued after a licensed financial institution, acting similarly to a primary dealer, acquires the gold on the open market and deposits it in the trust. The institution then notifies COEPTIS, which issues the proprietary currency.
The currency is meant to bridge the gap between physical and digital currencies. Because it is backed by gold and held in a trust, in theory it can be liquidated at market value at any time.
The founders believe gold enthusiasts looking for liquidity will be the earliest adopters but hope to eventually reach a larger market. Its digital nature allows for the potential to process payments more efficiently, which could eventually appeal to online merchants and banks.
"It is a situation where the currency itself is never going to default because if anything were to go wrong you are in the position where you can liquidate the gold to convert to currency to convert back to a national currency," said Bill Cunningham, chief executive officer of COEPTIS. "That is a very strong provision of the system and distinctly different than any of the cryptocurrency."
Many cyptocurrencies such as bitcoin use a decentralized system, but COEPTIS uses a centralized one. While a decentralized currency avoids the potential for a single point of failure, Cunningham claims a centralized one makes it more efficient and cheaper to operate.
"We have looked at the cost of running the blockchain in terms of how much money is invested" and "we are at orders of magnitude less expensive" if COEPTIS eventually achieves the scale of bitcoin, Cunningham said.
(COEPTIS also offers a collateral-backed currency, unlike many alternatives.)
Cunningham added that using a centralized system allows for greater protections against money laundering because it is "very easy to monitor…unlike a cryptocurrency where you can leave a well regulated exchange and enter into the netherworld," Cunningham said.
The platform for COEPTIS is a reboot from an earlier predecessor known as E-gold that was shut down after it was found guilty in 2008 for money laundering and operating an unlicensed money transmitting business. (E-gold's founder, Douglas Jackson, who was convicted of money laundering violations, will be a consultant for COEPTIS).
Cunningham contends that the E-gold operators were not acting nefariously, but rather made poor legal decisions that caused them to run afoul of anti-money-laundering regulations.
He said the E-gold experience has benefited COEPTIS because the regulatory guard rails are clear – and it's clear any digital currency needs a strong anti-laundering program in place.
"We know precisely what we need to do and we are doing more" than is required, Cunningham said about the E-gold experience.
He also added that because COEPTIS is a private system, it can implement a strong customer identification program.
"To become a member you have to go through that customer identification," Cunningham said. "If you know other people you are transacting with have gone through the same identification that you did, you are going to feel better knowing they have been vetted as well."


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An internet and privacy watchdog has a warning: Your car is tracking you, and it’s collecting far more information than it needs just to get you where you’re going.
Mozilla, the nonprofit that develops the Firefox browser, released a report Wednesday detailing how the policies of more than two dozen car manufacturers allow for the collection, storage and sale of a wide range of sensitive information about auto owners.
Researchers behind the report said that cars now routinely collect data on par with tech companies, offer few details on how that data is stored and used, and don’t give drivers any meaningful way to opt out.
“Cars are a humongous privacy nightmare that nobody’s seemingly paying attention to,” said Jen Caltrider, who directs Privacy Not Included, a consumer privacy guide run by Mozilla. “And they’re getting away with it. It really needs to change because it’s only going to get worse as cars get more and more connected.”
Unlike Europe, the U.S has few meaningful regulations on how companies trade and store personal data. That’s led to a bustling industry of companies that buy and sell peope’s information, often without their knowledge.
Carmakers have a long list of personal information they say they may track, including employment and purchasing history, education, internet browsing history, location data, music and podcast listening habits, immigration status, religious and philosophical beliefs and health information.
Six of the manufacturers say they can collect “genetic information” or “genetic characteristics,” thought it’s unclear how. All but four of the car manufacturers say they can or do sell at least some of their customers’ data.
Nissan did not respond to a request for comment.
Other manufacturers indicated they have lower standards than legally necessary for sharing users’ information with police.
As a rule, U.S. companies turn over information to police if they are compelled to do so by a warrant or court order, and car manufacturers are no exception. But Hyundai’s explanation of its policies goes significantly further, saying it may turn over customer data simply because a police officer or government official asks for it.
Hyundai can share user information “as part of an investigation or request, whether formal or informal, from law enforcement or a government official,” it says.
It’s unclear how much money car companies make from selling or trading the personal information on their users. But the privacy policies reflect an industry that has become awash in user data — especially location data, which can be incredibly useful for companies looking to track people’s habits — but is unequipped to handle it all, Caltrider said.
“These car companies are becoming like tech companies, but they don’t have any idea what they’re doing,” she said. “They’re like, ‘data, let’s get it all.’”
It’s also practically impossible for a car owner to not be part of this practice, Caltrider said. Tesla, for instance, is the only manufacturer surveyed that gives customers a meaningful option to not share their data. But Tesla’s data opt-out policy warns users that doing so may end many features and “may result in your vehicle suffering from reduced functionality, serious damage, or inoperability.”
“Consumers can’t do anything,” Caltrider said. “Usually we tell consumers to shop with their dollars. Now I’m just going to scream for the policymakers and regulators to get in the act because we’re already too late.”


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Microsoft and Valve has been battling for the attention of PC gamers for a long time. So far, Valve has come up on top. Now, it's looking like Valve might be going after the console game space, but using the same ideas and philosophies that have taken the company to the leadership role in PC gaming.
Ironically Valve's very existence is due indirectly to Microsoft. Valve's co-founders Gabe Newell and Mike Harrington worked for a number of years at the company. Newell has said he was a producer of the first few versions of Windows during his 13 years at the company while Harrington worked on the Windows NT team. In 1996, both men left Microsoft and used their hard earned Microsoft money to fund Valve. (Harrington decided to leave Valve in 2000).
In 2004, Steam was introduced with the launch of Half-Life 2. While the concept of downloading and purchasing full commercial PC games wasn't new, Steam offered other services such as automatic downloading of game updates, pre-loading games before they were released and more. In fact, Valve marketing head Doug Lombardi said in a 2008 interview they tried to get other companies to offer such a service, including Microsoft. None of them were interested so Valve decided to do it themselves.
While there were lots of issues with Steam when it launched, Valve learned from their mistakes and after several months the team got Steam to work efficiently. The end result was that by January 2012, Valve had over 1,500 games available to purchase and download on Steam. The service now has over 40 million registered users and has reached over 5 million concurrent users at once. Over 400 games now use Steamworks. Many game developers and publishers feel that Valve and Steam saved PC gaming and helped to transition the industry from a retail store-based environment into one where downloadable PC gaming is becoming the norm.
Meanwhile, Microsoft found out quickly that the company's own Games For Windows Live service was not attracting as many PC gamers as Steam. Microsoft tried to change its user interface and add features and third party games to the mix but in the end Microsoft ended up integrating the Games For Windows Live web site into its own Xbox.com site.
So what's the lesson here? Mainly, it's that Microsoft marginalized the PC gaming industry for several years. Meanwhile, Valve knew that the PC game business wasn't dying; it was simply changing to embrace downloadable games and other business models. Valve struck first and now Steam is the number one destination to purchase PC games.
A few days ago, I mentioned that the Windows Store feature in Windows 8 could be a major threat to Steam. That's still possible. Indeed, Microsoft is bringing the Xbox Live service to Windows 8 in an attempt to bridge the gap yet again between the Xbox business and the PC gaming community. It remains to be seen if that effort will be successful; only time will tell.
But since that editorial was written, there's been yet another new development. Credible rumors suggest that Valve is trying to work with hardware makers to create specifications for a "Steam Box", a desktop PC but with the small size of a console that would be able to run PC games, perhaps on a big screen TV similar to a console like the Xbox 360.
Newell said in a recent interview that while Valve doesn't really want to enter the hardware space, Valve feels the company might have to so Valve can "continue to have innovation." The next logical step in bringing PC games to an audience that is used to playing games in front of a big screen TV is making a product that would have all the characteristics of a console machine but still be a true PC with an open hardware and software platform.
In other words, Valve might be trying to bring the company's philosophies in the PC game software space to the console hardware industry, and that also means yet another direct battle with Microsoft, which again helped to create Valve thanks to the company's ex-employees and their Microsoft funds.
Valve may not want to get into the hardware space, but Newell and the rest of the company clearly sees that the closed garden approach to console gaming, such as the Xbox 360, has a number of issues. Game developers have to go through Microsoft's approval process to get patches and content updates to their games. They also have to pay a license fee to even get their console games published. That's certainly not true of a PC game system.
For consumers, they could be stuck with a console that for the most part is not upgradable in terms of hardware. They also won't have the freedom to download as many games from third party developers and publishers as they would from a PC system.
The idea of a console-like PC system, something similar to what Alienware recently launched with its X-15 PC, is hugely appealing, if it handled in the right way. It should be able to combine the best aspects of a PC (open system, upgradable hardware, more games and game innovation) with the advantages of a console (small form factor, playable on big screen, more easily affordable).
The nice thing about the "Steam Box" proposal is that Valve already has a business model that has been successful that the company can follow: Android. Google's mobile OS has allowed lots of smartphone hardware developers to release Android devices based on a system that is more open that Apple's much more closed iOS system. The result is that Android is now the leading OS for smartphone makers and the Android Market (now Google Play) has become a true rival to the iOS App Store.
There's no reason to believe that Valve couldn't make a dent in the console game space with some kind of PC oriented game machine. That's a prospect that could be making some people at Microsoft, and indeed the entire console game industry, very nervous right now. We can't wait to hear when and if Valve will reveal more information about the "Steam Box". More importantly, we can't wait to try it out for ourselves.
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Call 267 279 9477 to make your appointment today—In June, Hyundai inked a four-year deal with the NFL, replacing General Motors as automotive sponsor of America’s most-watched sports league. After a quarter-century of selling cars in the U.S.
from Automotive News Breaking News Feed http://ift.tt/1Yt0r40
via IFTTT Doylestown Audi repair specialist. 241 Harvey Ave Doylestown pa 18901


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"Felix, these ratings are terrible!" (Image courtesy of Wikimedia Commons)
As it is "upfronts" season in television land, the New York Times Business Day section today is filled with stories about the TV biz.
On the front page there's a piece by Emily Steele and Sydney Ember titled "Networks Fret as Ad Dollars Flow to Digital Media."
Networks are nervous, Ms. Steele and Ms. Ember report, because revenues are down. And revenues are down because ratings are down, which is another way of saying viewership is down. Television viewing has dropped 9 percent this year so far (and we are just getting started).
And why is viewership down?
To explain the drop, some industry executives and analysts point to the rapid increase in the amount of time people spend watching Netflix and other streaming alternatives.
Well, that could be one explanation.
People are indeed going to Netflix and other live-streaming alternatives, mostly because the content is so good (not to mention available when you want to see it). But let's stick with the first part: the content.
The article does not mention a whole lot about content -- in fact, next to nothing. It is filled with references to the exploding world of online digital video -- Vine, Snapchat, YouTube... and of course the killer, Netflix.
Netflix viewing accounted for about 43 percent of the decline in traditional TV viewing in the first quarter of this year, according to MoffettNathanson.
Ironically, I found the answer to my question about the quality of content on the very next page (or, more properly, page 3), for there was a full-page ad taken out by CBS extolling their content. "America's Most Watched Network Wins Again," they said.
And what do people watch on CBS?
- No. 1 show: The Big Bang Theory
Man, this speaks volumes about why the networks are in trouble -- right there in an ad that CBS itself paid for. (And I am willing to bet a full-page ad in The New York Times is not cheap!) Look at the list!
The Big Bang Theory is now in its eighth season. That's pretty long in the tooth for a TV show. Their no. 1 drama? NCIS, now in its 12th season. (I think this is now older than MASH). Their no. 1 "new" show? NCIS, now in its 12th season. (Oh, yeah, it's NCIS: New Orleans! I forgot.) Their no. 1 "new" comedy? The Odd Couple. The last time this was on, Richard Nixon was the president of the United States. No one under 45 years old was even alive when The Odd Couple aired the last time. Is it any wonder that the bulk of their advertising is for Depends and Dentu Creme? And, finally, 60 Minutes. That one first aired in 1968, making The Odd Couple look absolutely cutting-edge.
So no more agonizing about "digital," please.
If you want to know where your viewers are going, you might check the cemetery.
Copyright 2015 Michael Rosenblum


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Four Points by Sheraton established its dominance in the hospitality industry after the hotel was recognized as Africa’s premier airport hotel for the fourth consecutive year.
According to the International Hotel Awards, the hotel stood out from its competitors in terms of design, quality, service and innovation.
Four Points by Sheraton, Nairobi Airport’s general manager, Vivek Mathur, noted that the award cemented the hotel’s legacy of delivering quality and reliable service.
Four Points by Sheraton Nairobi Airport Hotel.
“Receiving the leading airport property on the continent for the fourth consecutive year is in itself a remarkable and humbling achievement. This is further reinforced by the fact that we are recognized as a destination of choice for global executives. These accolades do not only serve solidifies our position as an important regional player in the hospitality industry, but is a testament to the passion and commitment of our team.”
“We are committed to reviving the sector after the impact of the pandemic and look forward to a prosperous 2022 with increased tourism,” he said.
The International Hotel Awards, considered the most prestigious award in the world, are judged by an independent panel of industry experts. They focus on design, quality, service, innovation, originality and commitment to sustainability.
Additionally, the hotel was featured in the highly acclaimed World Travel Top 100 Hotels for Executives 2022 as one of the must-visit destinations for traveling executives and business people.
The airport hotel was among notable properties, including The Savoy, London and Park Hyatt, New York. Henry Smart of CEO Destinations said the hotel was outstanding despite the effects of the pandemic.
“Today’s travel industry has been shaped by the pandemic, during this time technology has had an ever-increasing influence. Increasing regulatory and hygiene requirements and greater scrutiny provided by online reviews have both created challenges and increased responsibilities for everyone involved in the travel industry.”
“The CEO Destinations World Travel 100 recognizes outstanding companies in the travel industry that have demonstrated exceptional leadership in their field, as well as companies that we believe will make travelers dream in 2022!” Smart said.
Despite the devastating effects of the pandemic, Four Points by Sheraton deployed a transformational business continuity model to set itself apart from its competitors.
Nairobi Airport, located inside Jomo Kenyatta International Airport (JKIA), was launched in October 2017. It consists of 172 rooms, event spaces, a dedicated business lounge, an all-day dining restaurant, pool bar and grill, coffee lounge and Nairobi National Park.
A photo of passengers at Jomo Kenyatta International Airport in Embakasi, Nairobi.


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Dan Goldberg has joined sports apparel brand Fanatics as its SVP, Music and Entertainment Development.
As a music merchandising, marketing, e-commerce and strategy exec, Goldberg was most recently SVP of Artist Services at Warner Music Group.
At Warner, Goldberg oversaw the global business strategy and operations of Warner Music Group’s e-commerce, tour merchandising, VIP experiences, ticketing and fan club businesses.
Goldberg joined Fanatics last week, and will be tasked with identifying strategic partners.
Currently, Fanatics has ties to a number of major US sports leagues, including the NHL, NBA, MLB, NFL and more.
Fanatics says that it is now looking to leverage its vertical commerce model and on-demand manufacturing capabilities in an attempt to grow the business in new areas, such as music and entertainment.
Goldberg will spearhead the company’s entry into these new verticals.
“Turning artists into brands and super serving their core fans has long been my passion.”
In a LinkedIn post, Dan Goldberg said: “After 12 years helping to build the most passionate and innovative merchandising, experiences and e-commerce global team in the music business, I made the hard decision to leave for an incredible opportunity at Fanatics, Inc., the global leader in licensed Sports merchandise, to build a new Music and Entertainment merchandise vertical.
“Turning artists into brands and super serving their core fans has long been my passion, and I’m excited to now leverage Fanatics’ world-class commerce capabilities, 80-million-plus reachable consumers, real-time access to actionable data and commitment to elevating the overall fan experience to unlock incredible opportunities across the music and entertainment merchandise industries.
“I’m grateful to Gary, Doug and Michael for the opportunity. Let’s rock!”Music Business Worldwide


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He claims to be the man behind the success of His contracts and says he has excelled with his entrepreneurial skills in the business world.
Samuel Snell says he is all about this and much more and exudes every ounce of passion and commitment to excel beyond boundaries as an entrepreneur and angel investor from Australia.
Talking about investing in startups at the right time, Samuel Snell says that the market for investing in the rising firms behaves differently than those for equities or bonds as the venture ecosystem experiences peaks and valleys. He points out that gems in the market often emerge during the down periods.
Many investors try to follow the herd and go behind where all other investors are putting their money in, but this 17-year-old entrepreneur explains that many startups can turn out to be lucrative during the down periods as they may show more promise with their products or services catering even amidst volatility in the markets.
Hence, he highlights that for many business industries like the digital world, now is the perfect time to invest in them as the online space is booming like never before and investors and entrepreneurs can turn things their way by investing in startups related to that niche. This will definitely provide them with double the returns in the near future as the digital space is only going to be on the rise for the years to come.
With becoming one of the angel investors and entrepreneurs from Australia, Samuel now claims to be a pro at knowing when is the right time to invest in startups as he says that investors must see the market trends and understand the current market times to make better decisions at investing in a startup firm across any industry.


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Card rates slow to come down
Commonwealth Bank, mecu and Victorian Teachers Credit Union are among the very few credit card issuers to have lowered the interest rates payable on the cards recently. Commbank has cut 0.6 per cent from a range of premium and discount cards, mecu has cut card rates by 0.75 per cent and Vic Teachers has sliced 0.5 per cent from card rates. Analysts say rising defaults on cards is causing banks to hold back rate cuts.
Source: Financial Review


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News - Kia
Kia’s slow sellers to survive – for now
Slow-selling Rondo and Soul to get marketing push, Pro_Cee'd GT set for auto upgrade
23 Feb 2015
By TIM ROBSON
DESPITE lacklustre sales performances over the last twelve months, Kia Australia will stick with two of its slowest-selling products, the Rondo people-mover and the boxy Soul hatch.
Kia Motors Australia (KMAu) chief operating officer Damien Meredith acknowledged that both cars need to perform better, and that plans were in place to ensure their growth.
“I would love the Soul to have been as successful (locally) as it has been in North America, but that wasn't the case,” said Mr Meredith.
“I'm not quite sure that we spent enough marketing dollars on it to get it out there. It's different. We want to keep it and we want to develop it and we want to ensure that it sells and pay for its own way in the future. No doubt, the numbers have been disappointing but we're going to fix that.
“I'm not quite sure we'll call the Australian Open the Kia Soul Australian Open but we're going to think about those things and how we place the vehicle.”
Kia shifted just 259 units of the Soul in 2014, despite the launch of a second-generation car in February last year. It is only available in a single variant – a 2.0-litre, four-cylinder petrol-powered front driver that sells for $24,490, before on-road costs, in manual guise.
The Rondo, meanwhile, fared little better in the sales race, posting just 388 sales. Regarded internally as a compact people-mover, it has only recently seen additional competitor activity join its space with the release of more premium offerings such as BMW’s 2 Series Active Tourer range as well as the new Citroen C4 Picasso.
The Rondo starts at $30,240, before on-road costs for the 2.0-litre four-cylinder petrol Si variant.
“Rondo is, again, in a very small segment,” said Mr Meredith. “It's a great car. Again, very similar to Soul, we're going to spend a little bit more money on it. We believe that, with the launch of the new Carnival, we'll get a bit of push-forward with Rondo.
“Saying that, we're putting things into place with Rondo in regards to spending a little bit more on it, being a little bit more targeted with its marketing and communication. Again, though, it has to stand on its own two feet.”
He was adamant that both cars would get a fair go. “They're both in our stable of vehicles, and we want to make sure that they reach their potential.”
Meanwhile, Mr Meredith told GoAuto that the Pro_Cee'd GT sports hatch is likely to be one beneficiary of the new seven-speed dual-clutch transmission recently developed by Kia, but no timelines had yet been set for its introduction.
“We’ve requested it. It would be great if it gets it, “ he said.
Last year, 381 examples of the Pro_Cee'd GT found homes in Australia. The Korean car-maker's local arm has previously admitted that the lack of a self-shifter has impacted sales of the three-door hot hatch.
“There is no question that the absence of an automatic in the Pro_cee’d GT is limiting sales in Australia,” (KMAu) media and corporate communications general manager Kevin Hepworth told GoAuto at last year's Paris motor show.
“The availability of the seven-speed dual-clutch transmission in that car would produce an immediate and significant bump in sales.”
The Road to Recovery podcast series
3rd of October 2014
Dual-clutch set to lift Kia Pro_cee’d GT
Kia’s seven-speed dual-clutch transmission set for belated birth in Pro_cee’d GT
13th of February 2014
Driven: Kia’s second-generation Soul arrives
Improvements to ride, handling and NVH for Kia’s funky new-generation Soul hatch
Click to share
Motor industry news


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£18 billion top of the shops
Asda and Kingfisher - owner of Woolworths - are merging in an £18billion deal which will create the biggest retail chain in Britain and the ninth-largest in the world.
The super-firm dwarfs rivals such as Marks and Spencer, worth £12billion, Tesco at £13billion, and Sainsbury's at £7.5billion. The deal is expected to lead to a wave of mergers which could trigger a revolution in shopping.
Huge American-style supermarkets could spring up, housing a range of stores under one roof.
Kingfisher also owns Comet, Superdrug, B&Q and two European shopping groups. It will become the main partner, owning two-thirds of the new company, with Asda controlling the rest. It will also have clear ambitions to take on the European market.
Shoppers may find lower prices at Asda because of the group's massive combined buying power. They may also be able to buy products from Kingfisher stores in the supermarkets. With more than eight per cent of the UK grocery market, Asda is currently the third largest supermarket chain in the UK after Tesco and Sainsbury's .
The enlarged group will employ about 130,000 staff in 2,324 stores, selling everything from garden sheds to vegetables and hi-fi systems to headache tablets. Around 25million customers pass through the two firms' stores every week.
The new combine, which is expected formally to announce the merger deal on Monday, will go under the name of Kingfisher but the individual stores are likely to keep their names. Archie Norman, chairman of Asda and the Conservative Party's chief executive, is expected to make an instant profit of £2.5million as a result of the merger through his share options.
The 44-year- old, who owns £400,000 worth of Asda shares, was credited with building up the
supermarket group using a handson management style.
His fortune could swell to £5.4million if he is allowed to cash in on his long-term incentive plan, but he is expected to plough the money back into shares of the new group. Analysts expect more mergers between supermarkets and retail chains. American giant Wal-Mart, the biggest store group in the world and worth some £90billion, is looking to buy in the UK and Europe.
Retail consultant Theresa Wick-ham said: 'This merger is an interesting mix. I think you will see much bigger stores opening in the style of American supermarkets offering a range of shops.'
Asda was formed in 1949 in North Yorkshire, when a tie-up with local farmers created the Associated Dairies and Farms Stores, later shortened to Asda. It opened its first supermarket in the Fifties and spread south in the
Seventies and Eighties. Analyst Mark Charnock, of stockbrokers Charterhouse Tilney, said: 'The firms are perfectly suited. Kingfisher is geared to giving value for money for families as is Asda.
'The merger looks to be a good thing for shoppers. The combined buying power of the two companies will bring benefits to consumers, like lower prices and a wider range of products.'
Derek Hunter, national secretary of the GMB union said: 'This merger could bring exciting prospects for the workforces of both companies and could lead to jobs being created.'
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According to a report in the SMH, long waits on the phone to book a cab could soon be a thing of the past. Brisbane’s Yellow Cabs have already started offering the SMS booking service, and MTX Media, the company behind the Mobile Booker application say they hope to have deals in place with major cab companies in Sydney, Melbourne and Adelaide within 5 weeks.
BlackBerry devices (along with some PDAs) won’t be compatible, but the company say support for these will be added by the end of October.
If you’re in Brisbane, Redcliffe, Caboolture, Toowoomba, Warwick or Ipswich, you can get started using the Yellow Cabs SMS ordering service (details are here) and I noticed on their site that you can also book a cab online in some areas of Qld – and soon in Tassie too. Details are here.
SMS booking sounds like a great idea – but on New Year’s Eve when no SMS ever gets through, think I might give it a miss. Anyway, I’ll keep you posted when the SMS service moves beyond Brisbane.


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Root's hydroponic system helps with water, nutrients and light.
Having old games play on new consoles is a big benefit for gamers. Microsoft's new Xbox will do it later this year, but Sony's PS4 likely won't.
Full Grown is a company creating chairs, tables, lamps and frames in a most peculiar fashion: to cut down on wood waste, it's guiding trees to grow in the exact shapes it requires, making for one-of-a-kind pieces that take years to complete.
On today's show, Khail and Ashley celebrate a prototype battery that could someday change the way devices are made, explain how you can use your Xbox One to watch live TV without a cable subscription and check out a company growing chairs, tables and lamps directly from the ground. #TDTree
Two Irish brothers show a novel way to get the sheep on their family farm to go where they want. Maybe drones will be putting collies out of work.
Apple CEO Tim Cook says the First Solar project will produce enough power for its headquarters, all of its retail stores in California and many other facilities.
New Web and email address options exploded this year with 469 new top-level domain names. Next year, Google, Amazon and 10 others will bid for rights to oversee .app.
Up for noshing on some worms? Start a protein-rich mealworm ranch in your own home with a Kickstarter project aimed at sustainable living.
Here's everything that's being added, changed and tweaked in patch 1.08.
You might not be able to stomach ground crickets as a snack, even if they are good for your health and the planet. But Fido? What does he know?


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Businesses in Moseley are planning to join forces in a bid to win back shoppers lost to other retail centres over the past few years.
Companies in south Birmingham – which has suffered in recent years through a lack of footfall – may set up their own Business Improvement District (BID) similar to schemes in place in Birmingham city centre and other suburban shopping areas like Kings Heath and Erdington.
And businesses in Harborne are also looking into the possibility of establishing a BID to boost trade.
If successful, local companies would pay money into a pot of cash which they could then decide where to spend - be it on marketing the area as a shopping destination, improvements in the local townscape or security.
Moseley is in the “embryonic” stage of setting up a BID, according to the chairman of Moseley Business Association Mark Eftichiou.
He said there was a general consensus that most traders would like to see a group set up.
However there is a long way to go before it comes reality - first the idea has to be publicised and then local firms will take a vote on whether to go ahead with the idea.
“We have had a couple of meetings where we have floated the idea of putting forward the BID process where it has been met very positively,” said Mr Eftichiou.
“We can see town centres up and down the country are doing this and we want to get on that band wagon.”
In recent years, Birmingham has seen a proliferation of BIDs covering diverse areas such as the professional community BID in Colmore Row, a Broad Street BID as well as a Southside BID which has plans to turn the area into the city’s equivalent of Covent Garden.
Down the road, Harborne’s Village Centre Partnership is also looking at the idea and will submit a report on the feasibility of a BID later on this year.
Although a relatively affluent area, Moseley’s daytime footfall has suffered in recent years from its growth as a night-time destination for drinkers and diners, and this is something a Moseley BID could counteract, said Mr Eftichiou.
He said security as well as better marketing of Moseley as a shopping destination could be among the priorities of a BID, which could put it on a level pegging with the busier Kings Heath High Street down the road. We don’t see Kings Heath as a competitor because they tend to take a different kind of customer,” said Mr Eftichiou.
“Moseley has got a good reputation for independent shops and a more bohemian style of customer so we have a different kind of clientele.
“But we would need to get going on footfall as that is dying and we need to reinvigorate that
“We have been fighting a battle against the pubs and restaurants - there is nothing wrong with that but there need to be customers for the shops.
“It’s a symbiotic relationship.”
He added that having a BID would mean the big chains that have moved to the area would have to take their fair share of the burden in paying for local initiatives - which is not something that currently takes place.
“When it comes to the schemes that have come along, it’s always fallen disproportionately on the local small businesses whereas the big chains, the supermarkets and pubs, have always managed to avoid paying any money,” he said. “The Christmas lights are a good example – local independents have put their hands in their pockets but the big chains defer to the main office and national policies and we don’t get anything out of them.
“This will give us a level playing field because it’s done on a percentage basis.”


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Blockchain Brawlers Launches a Ten Day Burning Event
Blockchain Brawlers releases a ten-day series of events as new gameplay encourages togetherness among players.
Tyranno Studios’ Web3 game, Blockchain Brawlers has released updates about their “ten days of burning” event. Under the theme: Philosophy and Goals, the team has released a well-explanatory overview of the order of events. The event is set to commence on February 2nd, 2023. The event is set to be the biggest to ascend the stage of Blockchain Brawlers. At this event, there will be more recipes, catering, and incentives for more players to engage with. The OGs, new players and everyone will benefit from participating in this event, The experience in this event promises to be engaging and full of activity.
This event will generate Mint #1 asset. Players are encouraged to warm up their engines for the first few days of the event where they can grab up to 400 Mint #1 cards. There will be hundreds of mints available in PvP. Players have the liberty of choosing their preferred lanes to ride on. These tracks are filled with incentives designed to be equally distributed among contestants.
Aims and Objectives of Blockchain Brawlers Burning Event
Blockchain Brawlers aims to provide better content while trying to burn a large amount of Deck Cards and packs found in Alpha Deck Cards. After the commencement of the event, the production of the Alpha Deck Card will be discontinued forever. Some long-term goals would be added for players to collaborate toward a successful end.
The new gameplay encourages unity and togetherness among players. Currently, the game has a lot of incredible players who are playing independently. The event is designed such that players need to beckon on the assistance of other players to reach greater heights. There will be an exceptional contest in celebration of the event where 21 winners would be rewarded. All rewards would be deposited in their wallets on the ninth day.


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Insider's Guide to the Metaverse: How to play, make money, and party in 7 of the most popular virtual worlds right now
The metaverse leapt into the spotlight this year, but is it ready for mainstream acceptance? Insider dives into 7 popular virtual worlds to find out.
Snoop Dogg is moving into The Sandbox, a metaverse which also boasts partnerships with brands like the Walking Dead and Smurfs. Here's what it's like, and why a single plot of its land sold for a record $4.3 million.
From Snoop Dogg to the Smurfs, The Sandbox brings big brands to life in a virtual world filled with games, exploration, and opportunities.
Ways to earn a living in gaming using NFTs: 3 industry experts share their takes on how you can generate income while playing your favorite game
Gaming will be all about owned assets, verifiable scarcity, an integrated marketplace, and hopefully, an interoperable avatar, they said.
Everybody is talking about 'the metaverse' all of a sudden, and I don't get it. What is this thing and why is it such a big deal?
All your burning questions about the metaverse, including how people are buying land and investing in it, answered in one place.
WATCH: An investor earned about $5,000 after a few hours of playing in a metaverse. He explains the top 3 ways to rake in crypto from these new platforms, and which metaverses to do it in.
There are various platforms including Decentraland, The Sandbox, and Start Atlas that allow you to earn crypto by owning NFTs and playing games.
A co-founder of The Sandbox explains what on earth is going on in the metaverse — where land is selling for millions and Snoop Dogg is hanging out
Someone bought a pad near Snoop Dogg for $450,000. In The Sandbox metaverse.
Property values in the metaverse are surging. A landlord who owns land in Decentraland and The Sandbox explains how to pick a location, and shares the top 7 metaverses to consider for the best appreciation value.
There are seven leading contenders to consider buying land in. Logan Welbaum explains each one and what the lands are used for.
These 10 metaverse-linked altcoins can surge in 2022 thanks to the rise of interconnected blockchain gaming — but Meta's closed-off approach 'can't work', according to the chair of a $2.2 billion crypto VC
"Just rebranding yourself to Meta doesn't mean you run the whole metaverse," Animoca Brands Chairman Yat Siu told Insider.
Cryptocurrencies rallied on Wednesday after investors bought the dip triggered by nervousness around a potentially hawkish Fed meeting.
The sandbox metaverse generated over $70 million of gross merchandise value over the past week. Its co-founder breaks down why digital property prices are spiking — and shares the types of virtual job opportunities in the Web 3.0 economy.
The co-founder of the sandbox, which has sold 65% of its metaverse land, shares the types of virtual job opportunities in the Web 3.0 creator economy.


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The home of iconic British manufacturer Aston Martin celebrated its 60th anniversary last week with a pre-Christmas party. The showroom in Newport Pagnell, Buckinghamshire has been producing classic Aston Martin cars including the DB5 and original Vanquish for the last 60 years.
The anniversary celebrations took place on Friday 12th December and included hundreds of VIP guests from across the UK and Europe. Also in attendance was a variety of classic and new Aston Martin cars including the all new exclusive 60th anniversary limited edition Vanquish sports car. The stunning cars created by the design team at Aston Martin and the brand's bespoke personalisation service, Q by Aston Martin are set to be built at the Newport Pagnell showroom. The majority of the new Vanquish cars have already been snapped up by Aston Martin enthusiasts who are keen to have their own piece of the works heritage.
The new limited edition Vanquish
It wasn't only new cars on display at the event, rare models such as the DBS which starred in the 1970's TV show The Persuaders alongside former Bond satr Roger Moore and legendary Holywood icon Tony Curtis. Also on display was an iconic Aston Martin DB5 and the last model ever to be made at the Newport Pagnell factory before they moved production to Warwickshire in 2007 – the V12 Vanquish.
Speaking at the launch event was Paul Spires Commercial Director at Aston Martin Works he said of the new limited edition Vanquish model: “Designed by Marek Reichman and his team these limited edition Vanquish sports cars are a celebration of 60 glorious years of Aston Martin at Newport Pagnell.
“Strictly limited to just six cars, each one representing a decade of our operations here, these are truly ultra-rare collectors' items and a fitting beginning to our year-long celebrations."
Aston Martin Works are planning numerous events over the coming months to celebrate their 60th anniversary; details are to be announced shortly.


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The COVID-19 pandemic resulted in 2020 being defined by a huge uptake of business-to-customer (B2C) payment services, such as contactless transactions and online shopping.
What a year 2020 has been. We all had specific hopes and aspirations for the year and as we know, it’s turned out to be a very different outcome for everyone. Two words that sum up 2020 are uncertain and unpredictable, and while it’s been a tough year for business in general, we’ve decided to take a quick trip down memory lane and look back at the positives, the happy moments, and what we achieved for our customers.
Despite innovation in the payment methods offered to consumers, the way businesses pay each other has changed very little over the last 40 years.
Business owners, suppliers and customers will be the big winners after Cirralto (the parent company behind Spenda) secured a Business Payments Solution Provider (BPSP) agreement.
As a local Australian business, we aim to do what we can to help out in the community. Our goal as a company is to support local charities and causes with both cash donations as well as our time.
Earlier this month we attended the Accounting Business Expo, and for the first time, the event was 100 per cent virtual.
US President-Elect Joe Biden’s hopes for Australia to be the innovation hub of the southern hemisphere have been realised if our burgeoning fintech industry is anything to go by.
Earlier this month we were fortunate enough to have a new Chief Financial Officer (CFO) join our team. As a fast-growing fintech company, bolstering our financial capabilities was a necessary milestone as we head into the next key stage of growth.
For many businesses, the team bonding experience often stops at the weekly Monday team catch up session, or perhaps the CEO delivers a regular update from the boardroom, and then you might end the week with some Friday afternoon office nibbles and drinks.
Managing a team just got a whole lot easier with Spenda’s User Management feature.
Available now on SpendaPOS for no extra cost, this feature allows businesses to easily add variants for products that come in more than one option.
“When you look around retail stores and you see customers over the moon about the products you help craft every day, that’s a win for me.”
There is a lot that can potentially go wrong when it comes to the technical aspects of planning and developing elite software that can handle specific processes, data and tasks for businesses across Australia.
Today is R U OK? Day – and as 2020 has thrown many of us a curveball, it’s never been more important to highlight the importance of asking a friend, colleague, or loved one “are you okay?”
While she intended on galavanting around the world as a travel bug throughout this year, our new Software Tester, Hannah Van Schayk, was forced to abandon her booked holiday plans due to COVID-19 and focus her attention on software bugs instead.
If customer engagement and marketing is the face of your organisation, your company culture and working environment is the personality.
Our Business Analyst and Margaret River local, Andrew Mann, is our man on the frontlines meeting with our customers around Australia and helping them iron out their issues with the best digital technology available.
When he’s not catching waves at his local Queensland beach, our Server Technical Lead, Shane Nall, is creating them.
We’re pretty lucky our brilliant Software Test Lead and favourite Kiwi, Angela Carne, decided to call Australia home and join the team at Spenda.
Many Australian businesses have been challenged by the economic conditions brought about by Covid-19.
I recently sat down with our experienced Chief Product Officer, Dave Wood, for a chat and inside view into the mind of our leader in Product Development.
We’re excited to announce the launch of SpendaCollect. This payment platform enables customers to view and pay one or many outstanding invoices in a single payment transaction so businesses get paid on time and improve their cash flow.
For retailers and suppliers looking to expand their reach, e-Commerce is a logical fit. Joining the forces of Spenda and WooCommerce is a sure way to boost your exposure.
Every business struggles with the same thing. Satisfying customers. Giving them what they want, when they want it, and giving it to them in the way they want to be engaged.
While Spenda now has more than 40 employees fine-tuning multiple software tools across two office locations in Perth and Sydney, the business started in a lounge room in Greenwood and was fuelled by a supportive single mother.
Ben & Jerry’s. Fish & Chips. Tom Hanks and Wilson. Some things were just created to become a great working duo, Spenda and Xero have joined the party.
SpendaPOS and SpendaPay are now fully integrated with the Ingenico Move 5000 EFTPOS device to deliver an incredibly fast and secure checkout experience.
COVID-19 may have thrown Australian businesses a curveball, but everywhere you look people are adapting, and finding ways to keep their business moving forward.
We’re excited to announce all the following features have been updated within our Spenda App!
Need some tips on how to work from home during Covid-19? We’ve got your covered!
Our Spenda rep’s Alex, Domi and JB spent two full days meeting with software pioneers at the React Conference in Sydney and have walked away with mountains of innovative knowledge.
Our Spenda representatives Sandy Jones and Dominic Gattellari are over in Melbourne right now for the Inside Retail Live event!
The business that soars in 2020 will ditch omni-channel retail and embrace the single platform of unified commerce.
© 2021 Spenda. All rights reserved


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The major stock indexes posted mixed results in the morning trading on Tuesday. Nasdaq and Big Tech stocks grew. Investors were tense ahead of today's debt ceiling meeting, and the Dow Jones Industrial Average was dragged down by Home Depot's (HD) earnings.
At 3 pm ET, President Joe Biden will meet with congressional leaders. New debt ceiling talks will take place at 3 p.m. ET. If there is no agreement on raising the debt ceiling, the U.S. may default around June 1.
The Dow Jones Industrial Average fell 0.6%, while the Nasdaq gained 0.2%. The S&P500 fell 0.3%. Russell 2000 fell 1%, worse than major indices.
Volumes on the NYSE and Nasdaq rose compared to Monday's same time.
The Nasdaq-tracking Invesco Trust QQQ ETF (QQQ), which tracks the Nasdaq100, has gained 0.6%. This shows that Big Tech is still a resilient sector. The Innovator IBD50 ETF (FFTY), which tracks the Nasdaq 100, fell 1%.
Crude oil fell 0.5%, to $70.82 a barrel. Gold futures fell 1.1%, trading at $2,000 psychological level. Bitcoin fell 1.4% to $27.090.
The yield on the 10-year U.S. Treasury bond increased by 6 basis points, to 3.57%. CME FedWatch shows that there is a 70% chance of no rate hike during the June Fed meeting.
The European stock market fell, with the German DAX falling 0.1% and Paris CAC dropping 0.2%. In afternoon trading, the London FTSE fell 0.3%.
FTC sends a shiver through the Biotech Industry
Horizon Therapeutics' (HZNP), which is a subsidiary of Amgen (AMGN), fell by over 15% after Bloomberg reported that the Federal Trade Commission would file a lawsuit in order to block Amgen's ($28 billion) acquisition bid.
HZNP is set to experience its biggest one-day percentage drop since Aug. 3 when it fell 18.47%.
Amgen produces therapeutics to treat cancers, inflammatory diseases and cardiovascular disease.
Amgen said it was disappointed with the FTC decision, but remained committed to the acquisition. Amgen said it does not see "legitimate competitive issues" and intends to close the acquisition in mid-December.
AMGN shares fell 0.9% after the news.
Retail sales in April rose by 0.4%, compared to the 0.7% forecasted but were higher than the minus 0.0% in March.
The metric without autos was in line the forecast of 0.4%. The data includes durable and nondurable segments in consumer spending that make up the majority of GDP.
The April Industrial Production increased 0.5%, compared to the consensus of zero growth, and manufacturing rose 1.0% versus the 0.1% estimate. This reading includes manufacturing, mining and electric and natural gas utilities.
Home Depot's stock market outlook is gloomy
Home Depot's stock dropped 1.7% after it missed Q1 sales expectations and beat earnings expectations. Comparable sales dropped 4.5% over the past year.
The home improvement retailer attributed the lack of sales to lumber price deflation, and bad weather in Western U.S. The big box retailer anticipates a 2%-5% drop in sales for the full year 2023.
The Dow Jones component also projected a decline of 7% to 13% in EPS for the current fiscal period. It expects to earn between $14.52 and $15.52 per share by 2024, as opposed to the FactSet estimate of $15.72.
The shares fell below the 50 day line. This is a warning sign.
Lowe's, a competitor (LOW), also fell by 1.4% to show solidarity and dropped below its 50-day level. The fall triggered the rule of 7% selling from the 212.60 purchase point for a cup with handle base.
Capital One (COF), a stock owned by Warren Buffett, jumped 2.7% on heavy volume after Berkshire Hathaway reported a buy of more than 9.9 million shares.
Berkshire sold Bank of New York Mellon BK and U.S. Bancorp USB during the quarter.
Baidu, the Chinese internet company, rose 3.6% following better-than expected Q1 sales and earnings. It reiterated its commitment to its artificial intelligence (AI), generative business. BIDU launched its Ernie Bot chatbot AI in March.
This move, which adds to the 6.3% increase on Monday, takes it back over its 200-day line.
On Holding, an IBD 50 company (ONON), fell 9.4% despite sales and earnings that were better than expected in the first quarter. The Swiss athletic shoe maker has also increased its sales forecast for the full year.
The 21-day exponential moving mean has been broken by the shares.
Other Stock Market Movers
Sea Limited (SE), a Singapore-based entertainment and e-commerce platform, reported lower-than-expected sales and earnings for Q1.
Stocks fell below the 50-dyline, which is a warning sign.
C3.ai's (AI) stock rose 3.1% on heavy volume to add to the 23.4% increase from Monday, after enterprise AI giant lifted its revenue guidance beyond expectations. The company will report earnings on May 31.
On Monday, shares regained the 50-day line. Stocks are up 117% so far this year.


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Horizons Meets Custom, Full-Time Trailer Needs
After an eight-year stint as president of First Bank of Manhattan (Kan.) and a decade as executive vice president and CFO of steel-distributor Joined Steel Pipe and Supply, Phil Brokenicky set out to own his own company.
When a friend told Brokenicky that Horizons Inc., a small Kansas factory-direct towable RV manufacturer was for sale, he was curious.
“One trip through the plant told me that I was looking at a diamond in the rough,” said Brokenicky, 54, who bought Horizons from founder Harold Johnson in June 2002.
“When I came into the company I had no RV experience whatsoever,” he said. “But I looked at the demographics over the next decade. With Baby Boomers getting ready to retire, there’s no question that the RV industry is a growth industry. Horizons needs to be only a flyspeck in the fifth-wheel market to be very successful.”
With son Drew Brokenicky joining Horizons as vice president of sales and daughter Erin Stadel as director of marketing, Phil Brokenicky’s first job was to supervise the design of the New Horizons Summit fifth-wheel with input from Horizons’ veteran production staff, many of whom have been with the company since it was founded.
An upgraded version of the standard New Horizons, the Summit features 7 feet 6 inches of headroom, increased storage and a more modern look with European-style features and amenities. Plans for the 2005 Summit include flush-floor slideouts.
“Summit was designed to give people an alternative to the high-dollar luxury motorhome in a towable coach that will sell for somewhere around $90,000,” Brokenicky said. “Our target market is the full-timer or the heavy snowbirder. We build our coaches to withstand 24 hours use 365 days a year. People are quick to notice that we build a different kind of RV. We are not into glitz. We want our coaches to have understated elegance.”
An average of 800 manhours goes into the construction of each coach, which gives Horizons the ability to monitor production quality closely, and Brokenicky noted the RV Consumer Group last year gave New Horizons its only five star safety and consumer satisfaction rating for fifth-wheels designed to be used by full-timers.
Production has been modest. In 2003, the company produced 33 units – 90% fifth-wheels – and Brokenicky intends to increase volume to 50 this year and 100 by 2008.
“We think we have a definite niche in the market because we are a custom builder” Brokenicky said. “But the one thing that we have learned the hard way over the last two years is that there is a limit to which customization should go.
“We just delivered a $113,000 coach. … The time it took to build that coach, we could have built three coaches that we could have sold for $78,000. We’ve found that there are certain levels of customization that we just don’t want to go into.”
In addition to modernizing the New Horizons line and increasing plant productivity, among Brokenicky’s primary challenges was increasing the visibility of the New Horizons brand in the RV marketplace.
“The former owner advertised very little and didn’t go to RV shows,” Brokenicky said. “We’ve now done some limited national advertising and we’ve been to the Florida RV Supershow in Tampa for the last two years.”
Although trailers built by New Horizons currently are sold factory direct, Brokenicky is considering establishing a small dealership base or a network of factory reps in California, Texas, Arizona and Florida who would attend local and regional RV shows.
“The biggest challenge that we face as a company is making our products accessible to the RV buying public,” Brokenicky said. “Being located in Kansas, we are central to the country. But by the same token, people aren’t anxious to hop into a plane or drive to Kansas.
“In terms of sales, having dealers would be the easy part. The difficulty is that I want to control very closely the sales process. I want the sales process to be at the same level as the quality of the units that we build.”
Brokenicky said he learned a lot quickly, particularly about the buying habits of the RV consumer.
“I am amazed at the time that serious RVers put into deciding what unit they want to buy, and what they want to have in it,” Brokenicky said. “There’s about a two-year process for people to decide what they want when they decide they are going to go full time or if they are going to be serious snowbirds.”
Brokenicky advises a potential customer to buy the coach first and then find the right vehicle to tow it.
“Too many people buy the tow vehicle first and then try to find an RV that they can tow behind it. They end up with a coach that doesn’t have the amenities that they really want.”


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John Menzies profit down by 20% as it suspends dividend in face of the coronavirus crisis
- Coronavirus symptoms: what are they and should you see a doctor?
John Menzies has suspended its dividend after warning the coronavirus outbreak will dent profits
John Menzies suspended its annual dividend as the aviation services business prepares for coronavirus.
The Edinburgh firm has already warned the outbreak would dent profits, and the operator of the behind-the-scenes parts of airports, has now said that further cost-cutting lies ahead.
It reported a 19.9 per cent decline in pre-tax profits to £17.3million for the year to December 31, on the back of the grounding of Boeing's 737 Max aircraft, the demise of Thomas Cook and the loss of contracts in the Dominican Republic and Panama.
Meanwhile, revenue increased by 2 pert cent to £1.32billion and it said it was pleased following a major restructure after the sale of its newspaper distribution arm.
Philipp Joeinig, executive chairman, said: 'We are experiencing headwinds due to Covid-19, but in the medium and long term we see genuine opportunities for growth.'
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Vinimaya is ready for its latest procure-to-pay tool to go live. The company said Wednesday (March 9) that the solution, aquiire, will debut with live demonstrations at two upcoming industry events this month.
The aquiire tool is reportedly the first to offer real-time search capabilities across multiple catalogs for procurement officials, as well as ensure adherence to corporate procurement policy. Vinimaya’s focus is largely the usability of the solution, with an interface that allows procurers to find the products they want in fewer clicks.
It’s a digital procurement platform developed with various partners, Vinimaya said, and combines Vinimaya’s existing supplier management and analytics services.
Aquiire also links businesses with spend analytics, payments, digital invoicing and purchase order dispatch and integration into existing accounting and ERP solutions deployed by a company.
In a statement, Vinimaya CEO and President Mike Palackdharry said the tool makes it the first and only of its kind to deliver “real-time supplier management, search, guided buying and intelligence shopping compliance needed for organizations to achieve true control of their procurement purchasing processes.”
The solution will see its debut first at the Procurement Leaders National Congress this week and again at the Global Procurement Tech Summit next week, the company added.
The eProcurement solution follows Vinimaya’s release of a whitepaper uncovering the key points of friction that buy-side organizations face in the market today. In an interview with PYMNTS last October, Vinimaya Head of Account Management Donald Carrington pointed to the lack of visibility that procurement officials have when going through the source-to-pay process.
“It’s helpful to take a holistic look when designing and implementing a successful eProcurement program and to understand the impact it will have on the organization,” he explained. “Simply implementing a full P2P solution without understanding the key goals and metrics for true success can be disastrous in terms of lost revenues, time, resources and internal credibility.”


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There are many ways the Call of Duty series has leaked over the years, from retail standees, to the South Korean ratings board, to the typical method of datamining. The latest is a new one on us – courtesy of Doritos, we now know the next instalment of the FPS games series is Call of Duty: Black Ops Cold War.
Revealed by Call of Duty fansite ModernWarzone, packs of Doritos are adorned with the next Call of Duty’s logo as part of a promotion for players to earn some extra XP. Previous leaks suggested the next CoD from developer Treyarch would be a reboot, set during the Cold War – a prolonged period of tension between the United States and Russia, stretching back to the 1940s, that involved a lot of espionage and proxy wars. The rivalry was one of the driving factors around the space race, fueling scientific innovation from the two superpowers.
Now we know this isn’t just the setting, it’s the full title – which confirms a report from Eurogamer back in May. The Black Ops series actually started in the Cold War with the first in 2010, before going full sci-fi in the future-set sequels, so this is familiar territory for Treyarch. The Doritos promotion offers US players an hour’s double XP per pack, and will start on October 5. This might be the release date, but generally Call of Duty games release a little later, in the first two weeks of November, so this is more likely when we can expect an open beta.
On the opposite side of the aisle, Infinity Ward recently put out a statement that cheaters in Call of Duty: Modern Warfare and Warzone will continue to be banned. The Warzone Season 5 release date is in less than two weeks, so hopefully there’s less risk of finding a hacker by the time it rolls out.
— Call of Duty News (@charlieINTEL) July 26, 2020
If you want to broaden your shooting skills in anticipation of Call of Duty: Black Ops Cold War, we have guides on the best Warzone weapons, and best Warzone loadout drops, and specific guides on the best Warzone sniper, best Warzone assault rifle, and best Warzone SMG, to keep you on the cutting edge.


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7:56 a.m. Dec. 20, 2014
- By Ryan Tracy
As TARP era winds down, U.S.’s financial-crisis bailout scorecard nears completion U.S. government closed a chapter in financial-crisis history Friday when it sold its remaining shares of Ally Financial and shut down its automotive-industry rescue program.
7:23 a.m. Dec. 20, 2014
- By Quentin Fottrell
5 odd places to buy holiday gifts Avoid crowds at the mall with these alternative spots to shop Escape the crowds at the mall with these five alternative spots to shop.
7:20 a.m. Dec. 20, 2014
- By Catey Hill
5 things NOT to buy at Costco and Sam’s Club You may want to avoid — or at the very least do a thorough price comparison on the warehouse club vs. other area stores — on some of the items sold at warehouse clubs. Here are five.
7:11 a.m. Dec. 20, 2014
- By Catey Hill
6 industries that can’t find workers fast enough Companies are looking for employees in these areas.
11:06 a.m. Dec. 19, 2014
- By Andria Cheng
Why you are right to shop at the last minute Prices of electronic gadgets have been falling since Black Friday.
7:02 a.m. Dec. 19, 2014
- By Victor Reklaitis
Nike, BlackBerry, Hasbro drop; Red Hat, CarMax climb Finish Line skids on quarterly results, outlook Stocks that are making moves Friday also include Mattel, Xerox, Finish Line, Juno Therapeutics and Ally Financial.
6:38 a.m. Dec. 19, 2014
- By Andria Cheng
Here are the last-minute gadgets and toys people are looking for Skullcandy Apple and Bose SoundLink Mini speakers are seeing a surge in search requests, Yahoo says.
3:25 a.m. Dec. 19, 2014
CarMax beats profit, sales expectations CarMax Inc. said used-car sales drove increases in profit and overall sales in the most recent period, as the company enjoyed its sixth-straight quarter of customer-traffic growth. The results topped analysts' expectations, and the company's shares rose about 12% in recent premarket trading. Through Thursday's close, CarMax stock has risen nearly 29%, in part because of a $2 billion increase for the company's share-buyback program that it unveiled in October.
3:07 a.m. Dec. 19, 2014
Finish Line lowers outlook, blames margin pressure Finish Line Inc. lowered its earnings outlook for the year on Friday citing margin pressures, a sign sporting-apparel retailers are also feeling the impact of a weak retail environment. Chief Executive Glenn Lyon said the company will adjust its spending plans to protect profitability until the current pricing environment improves.
2:45 a.m. Dec. 19, 2014
- By Tomi Kilgore
CarMax's profit, sales rise above expectations NEW YORK (MarketWatch) -- CarMax Inc. reported on Friday a fiscal third-quarter profit of $130 million, or 60 cents a share, up from $106.5 million, or 47 cents a share, in the year-earlier period. That exceeded the FactSet consensus analyst estimate of 54 cents. The used car retailer said revenue for the quarter ended Nov. 30 rose 16% to $3.41 billion, while used unit same-store sales climbed 7.4%, exceeding analyst forecasts of $3.27 billion and 3.9% growth, respectively. Total used unit sales grew 14% to $2.79 billion. The stock, which was still inactive in premarket trade, has run up 29% this year through Thursday, compared with a 12% gain in the S&P 500.
2:15 a.m. Dec. 19, 2014
- By Philip van Doorn
Here are the best S&P 500 stocks and sectors of 2014 It’s been a decent year, in spite of all the warnings from bears It’s been a decent year for the market overall, despite all the warnings from bears.
1:38 p.m. Dec. 18, 2014
- By Wallace Witkowski
Nike slips after hours as orders fail to impress Red Hat shares rally on earnings beat Shares of Nike shed most of their gains of the day in the extended session Thursday after the athletic apparel and equipment maker posted quarterly results after the bell.
12:42 p.m. Dec. 18, 2014
- By Drew Fitzgerald
RadioShack says chief marketing officer Jennifer Warren has left Exit marks second top-level executive departure during critical holiday sales drive RadioShack says its head of marketing, Jennifer Warren, is leaving the company, the troubled electronics chain’s second key executive departure in the middle of its all-important holiday sales drive.
11:48 a.m. Dec. 18, 2014
Pier 1 profit falls in line with expectations Pier 1 Imports Inc. said its earnings fell 33% on higher costs that offset sales growth during the quarter ended November. However, the home-products retailer's shares rose 3.6% to $14.40 in recent after-hours trading as its chief executive said the company had a solid start to the key holiday quarter.
11:17 a.m. Dec. 18, 2014
- By Tomi Kilgore
Pier 1 Imports profit falls in line with forecasts NEW YORK (MarketWatch) -- Pier 1 Imports reported a fiscal third-quarter profit of $17.9 million, or 20 cents a share, down from $26.8 million, or 26 cents a share, in the same period a year ago. That matched the average analyst per-share earnings estimate compiled by FactSet. The specialty home furnishings company said revenue for the quarter ended Nov. 29 rose 4.1% to $484.5 million, while same-store sales increased 2.5%, compared with analyst forecasts of $488 million and 4%, respectively. The company affirmed its full-year outlook for earnings per share of 95 cents to $1.05. The stock rose 4% in after-hours trade.


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Lohia Auto Industries, the automotive division of the Lohia conglomerate, is all set to launch its diesel three-wheelers in the African market. Its products, which include electric two-wheelers, electric rickshaws and diesel three- wheelers, are available in India, Bangladesh and Nepal. Lohia may consider selling the other products also in Africa. “Africa is an unchartered territory. We sense huge growth opportunities in that continent and hence we plan to supply to that market,” Ayush Lohia, CEO, Lohia Auto Industries, told AutoParts Asia.
Lohia Auto is planning to launch new variants and new product categories. “We will launch new variants in the existing product portfolio as well as add new categories in the coming years. We have created a research and development as well as manufacturing base in Kashipur,” he said.
The R&D team of the company is working on developing an electric auto. The product is in validation stage and is expected to be ready in 2017-18. The company, with less than Rs 100- crore turnover, has a 20 people R&D team which is working on electric vehicles.
With a capacity for 100,000 units, Lohia Auto manufactures the entire range of its two-wheelers and three-wheelers at Kashipur, Uttrakhand. While it sells the electric two wheelers, electric rickshaws and diesel three wheelers in the northern part of India, in the South it supplies only the diesel three- wheelers. The company plans to increase the number of its dealers to 200 throughout the country during the current fiscal from the current 100. “It is important for our growth,” Lohia added.
It has recently inaugurated a new state-of-the-art showroom in Nellore, Andhra Pradesh, in association with Vandana Motors. The showroom spread across 4000 sq ft is well-equipped with trained staff and service centre for maintenance and repairs.
Lohia is an established player in the diesel three-wheeler categories. This product line contributes close to 60 percent of the company’s turnover followed by electric rickshaws which 30-35 percent. The contribution of electric two-wheelers is in single digit.
Electric two-wheelers as a category could not grow to its potential, according to Lohia. He attributed the dismal performance of the category to the poor manufacturing ecosystem for electric vehicles in the country. There is poor supplier base and critical components have to be imported. Some non-serious, fly-by-night players also damaged the growth potential, he said.


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(Bloomberg Opinion) — Health-care earnings season is firmly here, with reports now in from three pillars of the sector: pharmacy giant Walgreen Boots Alliance Inc., health insurer UnitedHealth Group Inc. and drug-and-device conglomerate Johnson & Johnson. Against the backdrop of a global pandemic, each had a singular quarter. And while experiences varied given the different niches each of the companies occupy, taken together they present a comprehensive picture of the outbreak’s impact on the industry and the risks it still poses.
Walgreens, the first to report on July 9, was the hardest hit in many respects because its pharmacy counters are surrounded by retail offerings that were affected by economy-slowing efforts to contain the virus. The results also point to big trans-Atlantic differences in dealing with the Covid-19 pandemic. A stringent U.K. lockdown led to enormous sales declines at the company’s stores there. Varied and often shorter U.S. shutdowns kept North American sales comparatively high. Margins fell on both sides of the pond as people spent more on essentials and less on makeup and skincare products.
Though the drug side of the business was more resilient, pharmacy volume fell worldwide alongside doctor visits and hospital admissions. The sales impact in the U.S. was muted by price increases and sustained sales of costly specialty medicines, but the quarter was a notable disruption to years of volume growth. The patchwork U.S. response may have been a temporary boon on the retail side, but the resulting resurgence in cases makes the next few months uncertain.
Even if short-term disruptions abate, long-term concerns remain. Some of the company’s business shifted online, but it couldn’t begin to make up for the decline in foot traffic. That’s not entirely a pandemic specific-issue; it was an existing trend that’s been accelerated by the disease. Walgreens is fighting back by investing in digital offerings and in-store clinics, but those efforts will take time to bear fruit.
While unfortunate for pharmacies, slowing health-care consumption boosted the bottom line of health insurers as UnitedHealth demonstrated Wednesday. The company’s medical-benefit ratio — the portion of premium dollars spent on health care — declined steeply as a result of delays in elective surgeries and other care. Much of that money flowed into a historic insurance profit, some of which will be rebated to consumers under Obamacare provisions. It’s a good sign for others in the same business but is quite concerning for providers.
UnitedHealth doesn’t expect this boost to last. People will eventually go back to the doctor, in some cases incurring extra costs if conditions have worsened. The company is already seeing signs of a rebound in visits, though renewed Covid case growth could still derail this shift.
There haven’t been enormous drops in employer-based insurance yet, but there are early signs of declining coverage from the rounds of layoffs caused by the Covid recession . More will lose their insurance going forward, especially if the U.S. can’t control the virus. Some will shift to Medicaid or the individual market offered under Obamacare, but those are less reliable and profitable businesses.
Johnson & Johnson, a company that makes the drugs and consumer products sold by Walgreens and devices used in many of those surgeries that have been delayed, felt the slowdown differently and its results Thursday showed it. Drug sales increased, though gains were muted by Covid-19 related downturns in diagnosis and treatment. Strong sales of over-the-counter products such as Tylenol and Listerine couldn’t overcome a decline in skin health and beauty products on the consumer side. And revenue from devices plunged.
Despite the big hit to several businesses, the company boosted its sales and earnings guidance for 2020. The update was based entirely on a positive shift in the company’s expectations for its devices. J&J believes that the worst is past for that business and the pandemic. Procedures are coming back, executives said on its Thursday earnings call, and they think that any second wave is unlikely to be as bad because of better preparation and knowledge. The company acknowledged a still-high level of uncertainty and some concern about U.S. case growth. If unemployment rises and insurance coverage falls, its business could suffer. But it’s holding on to optimism for now.
If J&J is wrong about the the trajectory of the pandemic, it will be able to adjust. Other product-focused companies with finances that aren’t as robust and have more U.S. exposure, or less product diversity — and that’s many of them — won’t have it as easy.
Health-care businesses are both more exposed to and sheltered from the pandemic. Even these three giants won’t come out unscathed or unchanged.
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.
Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.
For more articles like this, please visit us at bloomberg.com/opinion
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The number of full-time employees who work in spas increased as well. The PwC's study shows that there were 149,200 full-time employees in the spa industry, in 2011. In just a year's time, the amount of full-timeworkers rose to 163,100. This means that there was an increase of 9.3 percent, which surpasses the total percentage of economic growth in the U.S. The total number of employees, including full-time and part-time, increased, too. This number went from 338,600 in May of 2011 to 339,400 in May of 2012. While the change may only be 0.2 percent, this proves that the number of opportunities in the spa industry is growing steadily. The data from the survey also revealed that the number of contracted and part-time employees decreased, but this means that the industry is growing so rapidly that full-time employees may be needed to meet with the demand of spa services.
The beauty industry is forever changing and growing. From the types of procedures offered to diversity with employment, this field is expanding, and spas are no different. For those looking for a new career in the beauty industry, the job openings at salons and spas are increasing, and the revenue generated from this field is rising steadily. In fact, even in a tough economy, spa revenue in the U.S. is growing, and at a speed that tops overall U.S. economic growth.
According to the International Spa Association (ISPA), there was revenue of $12.8 billion dollars for the spa industry in 2010. In the following year, the revenue improved. The yearly study that is conducted by PricewaterhouseCoopers (PwC) indicated that $13.4 billion were earned by spa; this is an increase of 4.5 percent of total revenue.The International Spa Association notes that the number of visits to a spa increased as well. In fact, the study shows that there were 156 million visits in 2011. In the previous year, spa visits measured by the PwC's survey were at 150 million. The statistics revealed that the number of visits to a spa were up by 4.1 percent.