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Facebook’s parent company Meta recently announced the cut of 11,000 jobs, or about 13% of its workforce, as it grapples with falling revenue and broader issues in the tech industry. Meta, like other social media companies, got a financial boost during the pandemic lockdown as people stayed home and scrolled through their phones and computers. But as the shutdowns ended and people started going out again, revenue growth began to falter. Spooked investors have sent shares of the company down more than 71% year-to-date and shares are now trading at levels last seen in 2015. The job cuts were announced by the CEO Mark Zuckerberg in a letter to employees, which was later also posted on the company’s website. The layoffs come just a week after Twitter nearly halved its workforce under new owner Elon Musk. There have been many other job cuts at tech companies, including Intel, Snap and Microsoft, which have been hiring quickly during the pandemic. Speaking at a town hall meeting heard by Reuters, CEO Mark Zuckerberg and other Meta executives made key announcements. Here are the details:
CEO Mark Zuckerberg apologizes again
CEO Mark Zuckerberg reiterated his apology for having to cut 13% of the workforce, telling employees he hadn’t anticipated Meta’s first drop in revenue. “Revenue trends are much lower than I predicted. Again, I was wrong. This was a big planning mistake for the business. I take responsibility for that,” Zuckerberg said. Going forward, he added, he did not plan to “massively” increase the headcount of the Reality Labs unit. The unit has been under scanner as the company has lost billions of dollars there over the past few years.
Facebook will stop making smart displays and smartwatches
Chief technology officer Andrew Bosworth, who leads the metaverse-oriented Reality Labs division, told employees that Meta would end its work on smart display devices and Portal smartwatches. Meta decided earlier this year to stop marketing Portal devices, known for their video calling capabilities, to consumers and instead focus on enterprise sales. Now the company is shutting down the smart display business completely. The portal had not been a major revenue generator and raised privacy concerns from potential users. Meta has yet to unveil any smartwatches. The company is said to be working on smartwatches which were to be launched in 2023.
Smartwatch unit to focus on AR glasses, company-wide restructuring underway
Meta CTO said the smartwatch unit will instead focus on augmented reality glasses. More than half of the total investment in Reality Labs went to augmented reality, he added. He further said that several parts of the business will undergo major restructuring, including combining a voice and video calling unit with other messaging teams and creating a new division, Family Foundations, focused on difficult engineering problems.
Jobs are cuts through levels; many sales and HR jobs halved
Meta human resources chief Lori Goler said nearly half of the 11,000 jobs Facebook cut this week were in technology positions. Overall, 54% of those laid off were in sales roles and the rest were in technology roles. The size of the company’s recruiting team has also been reduced by nearly half. She said the employees affected are from all levels and teams, including people with high performance ratings.
More job cuts, but cost cutting continues
At town hall, Meta executives said further rounds of job cuts were not expected. But other spending is expected to be reduced, noting ongoing reviews of contractors, IT infrastructure and various products. A hiring freeze at the company will be extended through the first quarter of 2023, CEO Zuckerberg said. The company has also reduced its real estate footprint and the company will transition to office sharing for those remaining.
“Meta’s Three Biggest Problems”
Brad Gerstner, CEO of Meta shareholder Altimeter Capital, wrote an open letter to Zuckerberg last month urging him to tighten Meta’s belt. “Meta has three huge problems to overcome: it’s no longer an innovative pioneer; its grip on market dominance is waning; and the promise of the metaverse, the centerpiece of Zuckerberg’s vision for the future of his company. , has been diminished by a combination of consumer apathy, corporate skepticism and the realities of a declining global economy,” Gerstner wrote.


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At Apple’s education event in Chicago, Apple shows off a brand new iPad for Students with pencil it get ahead in the Class.
Apple on Tuesday unveiled a brand new version of its iOS-powered iPad with pencil for students in classroom at its education event in Chicago, that it hosted at the Lane school faculty preparation highschool. the varsity is that the largest public highschool in Chicago.
It’s back to high school for Apple with a bran-new iPad.
What you need to know about the new iPad! #AppleEvent
✅ $329 for you, $299 for schools
✅ Supports Apple Pencil ($99)
✅ 10 hour battery life
✅ A10 chip
“Macs and iPads are used throughout colleges by students for everything from music to language arts and even advanced AI,” Apple corporate executive Tim Cook same at the event.
Apple’s nine.7-inch iPad “our most reasonable iPad.” The addition to the iPad line-up, which has the top-end iPad professional and therefore the smaller iPad mini four, starts at $299 for colleges and $329 for customers (£319 within the GB, AU$469 in Australia) for the 32GB model.
The new iPad is offered for order beginning Tues, and you’ll expect shipping to start out on. this most cost-effective iPad is additionally $329.
The new iPad is Apple’s answer to Google-powered Chromebooks, that became the go-to gadgets for academics in lecture rooms. Apple devices wont to top off colleges across the country, however they’ve since slipped as Chromebooks rose in quality.

domain: news


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A Wal-Mart Stores Inc. truck driver went at least 24 hours without sleep before his tractor-trailer crashed into a limousine, critically injuring actor-comedian Tracy Morgan and killing another entertainer, according to a police complaint.
Wal-Mart Stores Inc. apologized after a highway accident involving one of its truck drivers critically injured actor-comedian Tracy Morgan and prompted the U.S. National Transportation Safety Board to join a state investigation.
Wal-Mart Stores Inc, already struggling to woo shoppers constrained by higher taxes, is “getting worse” at keeping shelves stocked, the retailer’s U.S. chief told executives, according to minutes of an officers’ meeting obtained by Bloomberg News.
Wal-Mart Stores Inc.’s U.S. chief Bill Simon urged companies to create domestic manufacturing jobs, saying the effort is good for businesses as it cuts costs by having goods produced closer to where they are consumed.
Wal-Mart Stores Inc. executives, speaking at a company meeting this month, said its store shelves need to be better stocked with merchandise and that resolving the matter could be a $3 billion opportunity.
With an estimated 140 million Americans predicted to shop this weekend, retailers are bolstering security, deploying Segway patrols and putting on live music to distract shoppers and avoid the deal-hunting scrums that can foster Black Friday tramplings.
Bill Simon, managing director of retirement plan services at Brinker Capital Inc., says more 401k plan sponsors are offering exchange-traded funds. Bloomberg Radio's Catherine Cowdery reports on Exchange Traded Funds.


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Read the latest news for Crystal Peaks Shopping Mall & Retail Park right here.
Our aim is to make sure that every visitor feels welcome, safe and valued.
Additional state of the art beds have been added.
A campaign to show support to help the people of Ukraine.
400th Argos store in Sainsbury's supermarket opens inside Crystal Peaks.
Why not visit the new Trespass store and see what's on offer?
Here are the latest updates for visitors to our shopping mall.


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Lone robber holds up gold shop in Pathum Thani
published : 30 Jun 2022 at 13:59
writer: Online Reporters
A lone robber held up a gold shop in a Tesco Lotus shopping mall in Thayaburi district of Pathum Thani and made off with gold necklaces worth about 450,000 baht on Thursday morning
The robbery occurred at Yaowarat Krungthep Gold shop Lotus Khlong 7 branch, inside the shopping mall in tambom Lam Phakkood, around 10.30am, police said .
Gold shop employee Watcharapong Natenin told police there were five staff working, four women and one man, at the time. Mr Watcharapong said he was standing in front of the shop. A man wearing a face mask pulled out a gun and grabbed his hand, and then pounded the gun on the counter.
The robber, who was aged 40-50 years, then forced one employee to hand him three gold necklaces, each weighing 3 baht. He then demanded another three gold necklaces, weighing 2 baht each.
Mr Watcharapong said the robber pulled him along by the hand, as if he wanted to hold him hostage, but released him outside a mobile phone shop in the mall before fleeing.
A total of 15 baht weight of gold was stolen, worth than 450,000 baht.
Police arriving at the scene radioed other officers to intercept the robber along his escape route. They also examined security camera footage of the holdup.
The robber fled on a motorcycle along the Rangsit-Nakhon Nayok route. The police manhunt was continuing.
An armed men, wearing a face mask and a yellow T-shirt, robs a gold shop inside the Tesco Lotus shopping mall in Thanyaburi district, Pathum Thani, on Thursday morning.(CCTV footage via Krisana Rojana rescue Facebook)


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Stella Mwangi aka STL has been making big moves this year. From being featured on TV shows such as BET’s Being Mary Jane and recording soundtracks for major movies. The Norwegian based artiste is now adding another achievement to what has been an amazing 2017 for her.
Her song Get up and Go off her self-titled EP has been picked for yet another commercial deal with world renowned fashion designer Tommy Hilfiger this time around for a campaign dubbed “Tommy Now”.
The song will be used as the theme record for the Tommy Hilfiger runway fashion shows for a whole year and on digital campaigns and promotions. It will also kick off the Tommy Now Fall Winter 2017 collection.
An super excited Stella commented on this big news saying, “This whole year, my fans have been sending me messages congratulating my team about this Hollywood EP. I just want you all to know that I’ve got some heated records lined up for you. I’m on to some other hustle real quick! Don’t worry; I’ll be back before you all know it.”
Early this year, her record WORK was featured on the Tommy Hilfiger Summer Spring Collection.
To say we are proud would be an understatement, keep slaying STL!


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Agenda 1 January 2018
01 January 2018
- HALF OF UK’S BUSINESS LEADERS ‘CAUTIOUSLY OPTIMISTIC’ FOR 2018
- LISTERS HIT BY ARSON ATTACK
- PLANS FOR NEW AUDI CHELMSFORD SHOWROOM
- USED VALUES FALL
- WORLD NEWS – Tesla opens new site in NYC
- STOCKWATCH – Motorpoint slips
- COMING UP – Thursday – new car registrations
- OUR BLOG – Electric car buyers – and dealers – need clearer answers
Half of UK’s business leaders ‘cautiously optimistic’ for 2018
Business leaders have said they have confidence in their own firms for the year ahead, even though there are continued concerns about the wider economy, according to a survey from the Institute of Directors.
The survey of 762 company directors showed that in December, almost half of businesses were ‘quite’ or ‘very ’optimistic about their prospects, but a similar number said they felt pessimistic when asked about the wider economy and cited domestic economic conditions as the main negative factor affecting their business. Some four in 10 said uncertainty surrounding the UK’s trading status with the EU and skills shortages were having a detrimental effect. In terms of their wishlists for 2018, respondents called for investment in physical and digital infrastructure and for a reduction in the regulatory burden. More than a third of IoD members said they wanted to see funding to improve transport infrastructure, followed by better coverage of faster broadband.
Stephen Martin, the IoD’s director general, said: “The concern in these figures is the prevailing low expectations for the performance of the economy as a whole. Domestic economic conditions and uncertainty around our trading relationship with the EU continue to top our members’ concerns. The Government must now build on the resilience of business leaders. It can help to bolster confidence by hitting the ground running in January, pushing ahead with the priorities spelled out in its Industrial Strategy in areas like transport and skills.
“It is also absolutely vital that quick progress is made in agreeing transitional arrangements with the EU for what comes after March 2019. Businesses need to plan ahead, so the Government must deliver greater certainty on the Brexit transition early in the new year.”
Listers site hit by arson attack
A huge fire at the Listers Land Rover dealership in Shirley, Solihull has been confirmed as an arson attack via the company’s twitter feed. Firefighters were called to attend the blaze, which started at around 10.20pm on 29 December and people were warned to stay clear of the area, which houses mainly industrial buildings, after a number of explosions. While a number of vehicles were damaged, a spokesperson for Listers said no one was hurt and no customers’ vehicles were damaged. They added the dealership was now open for business as usual.
Used values fall by 1.1% in December.
Used car values have dropped a modest 1.1% in December, according to figures from Cap HPI. The analyst showed values for vehicles at three years 60,000 miles moved back by 1.1% last month, which is compared to a fall of 1.6% in December 2016. Average values at one year 10,000 miles fell slightly more and moved back by 1.2%, because of greater volumes entering both the retail and wholesale market.
The city car sector saw the highest demand with values falling by 0.1% at three years 60,000 miles. Among the top performers were the Fiat 500, Toyota Aygo and Smart Fortwo. Meanwhile, the electric vehicle sector is seeing growing demand and saw average prices rise at three years 60,000 miles by 0.9%.
James Dower, senior editor of Black Book at Cap HPI, said: “Historically, used car activity starts to improve after the Christmas period and values begin to strengthen. Buyers will be looking to replenish sold stock and those who have run a more lean stock into the back end of the year will also be looking to capitalise on the upturn in retail enquiry rates.”
Plans for new Audi Chelmsford showroom
A Wickes store in Chelmsford, Essex, could be changed into an Audi dealership. Plans have been submitted to Chelmsford City Council to convert the building merchants’ premises in Cuton Hall Road to incorporate a showroom, service areas and MOT facility.
The proposed building would incorporate a showroom and technical service bay area and MOT facility. The area is a popular location for dealerships, with Jeep, Chrysler, Land Rover, Vauxhall, Ford, Mercedes and Toyota already represented. It is not yet known if Wickes, which is currently still trading, will relocate. Chelmsford Audi has an existing dealership on the Dukes Park Industrial Estate and is part of US retail giant Group 1 Automotive.
Tesla opens in NYC’s Meatpacking District
Electric car specialist Tesla has opened a new store in New York City’s fashionable Meatpacking District, located in Downtown Manhattan and in an area known for its high-end retail, restaurants and bars. It replaces the former smaller dealership in Chelsea and the new showroom encompasses 10,900 sq ft with numerous vehicles stored – customers can make an appointment online to come in for test drives. It also offers various interactive displays, a coffee shop and bar geared towards owners’ events. Tesla is also using the showroom to promote its energy products.
End of week share prices
(As at market close, Friday; prices for previous week in brackets)
BCA Marketplace 202.20p (-3.80p)
Caffyns 415.00p (-5.00)
Cambria Auto 61.00p (no change)
Inchcape 782.50p (-0.50p)
Lookers 102.75p (+0.25)
Marshall Motor 167.50p (no change)
Motorpoint Group 219.00p (-6.00)
Pendragon 28.50p (no change)
Vertu Motors 50.50p (-0.50)
Thursday – New car registrations, Nationwide House Price Index, Cambria Automobiles AGM
Friday – BRC Shop Price Index
Electric car buyers – and dealers – need clearer answers
The new year firework displays were spectacular but are already fading from memory. So, for many, it’s back to work – if you’re not already there and one topic which looks poised to be a big talking point in the coming year is the electric car. Many retailers are likely to be thinking hard about this sector, currently only a tiny part of UK sales, but which is apparently set to grow massively – in Norway, electric vehicles now account for around 30% of sales. Consumers are being courted by manufacturers promising the future is electric.
But, while she could be accused of stating the obvious, Tesla driver Amanda Blanc, who also runs the UK division of insurer Axa, recently said that the shortage of charging points, in addition to pressure on the National Grid, is a major stumbling block to electric car sales. She pointed out that a recent family drive meant stopping twice to use a supercharger – clearly if the number of electric vehicles on the road surges without the infrastructure being in place, this is going to be a big disincentive to buyers.
There are some 125,000 plug-in electric cars in the UK and 14,000 chargers – 2,620 are rapid chargers that can give a car an 80% charge in 30 minutes. This is acceptable if the charger is free and it is possible to have a coffee, but not if others are lining up to use it. Consumers are being fed with messages that diesel is socially unacceptable and that petrol cars too are poised to become obsolete by 2040 and if some politicians have their way, then well before this date. So, is now the time to buy electric?
Who can blame anyone for feeling confused when there are stories of charging points needing to be installed on lampposts and warnings that the potential strain on the National Grid could mean cars could only be charged at certain times of the day. Tesla chief Elon Musk has suggested having battery swapping stations where flat ones are replaced with those that are fully charged. In more practical terms, Shell has opened charging points for electric cars at 10 filling stations, but these are mostly in London and the south east. Such pick and mix solutions are not good enough. There appears to be no obvious signs of how much needs to be spent, where the money will come from, who is going to provide the infrastructure, who will oversee the strategy and how effective it will be.
A major shift to electric must surely have more joined up thinking and piecemeal moves, while welcome, need to benefit the whole population. Until the answers are black and white, then retailers may well choose to focus on the present rather than the electric hyperbole.
Auto Retail Network


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RIM’s second quarter results paint a bleak picture for the one-time champion of the smartphone world
BlackBerry maker Research In Motion is in worse shape than previously thought, as its Q2 performance announcement reveals weak sales have resulted in a sharp drop in income.
Pre-tax income fell a massive 54 percent to $414 million (£262m) from $904 million (£572m) compared to the previous quarter and revenues dropped to $4.2 billion (£2.7bn), only just achieving the bottom end of the company’s targets.
It shipped 10.6m Blackberrys , lower than the expected 12m, and just 200,000 Playbooks. The Financial Times reported a 20 percent drop on RIM’s share price in after-hours trading on the back of the news.
“Overall unit shipments in the quarter were slightly below our forecast due to lower than expected demand for older models,” co-CEO Jim Balsillie (pictured) said in an announcement. “We will continue to build on the success of the BlackBerry 7 launch to drive the business as we focus our development efforts on delivering the next generation, QNX-based mobile platform next year.”
The firm’s launch of its first BlackBerry 7 devices came very late in the quarter and it predicted a return to growth by Christmas, speculating an increase in revenue from $4.2 billion (£2.7bn) in Q2 to between $5.3 billion (£3.4bn) and $5.6 billion (£3.5bn) for Q3. It also estimated BlackBerry shipments in Q3 to grow between 27-37 percent.
Curtains for RIM’s management
Yesterday’s announcement brings RIM’s shocking decline sharply into focus, reaffirming that it has all but surrendered the smartphone market to Apple and Android devices.
Edward Snyder at Charter Equity Research said to the Guardian: “This report is another nail in the coffin of management. I don’t think anybody believes their guidance. Management’s credibility is at an all-time low. We’re well past the point [where] these guys should be replaced.”
And another analyst, Pierre Ferragu from Sanford C. Bernstein is quoted by Reuters saying the Canadian firm’s management remains in “blatant denial” and their outlook for Q3 is “unrealistic”.
“For instance, the co-CEOs do not recognise the failure of the Playbook and continue to sell its merits in terms of security,” Ferragu said.
All other business
Yesterday’s announcement also revealed that RIM’s share of the consortium that purchased the Nortel patent cache was $780 million (493m).
Also included was the fact that it has so far spent $118 million on its “cost optimisation programme”, with the best part of that spent on staff redundancies and identifying and eliminating “redundant facilities”.


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Cybercrime tops Americans' crime worriesStaff Writer | November 8, 2017
Americans worry far more about becoming the victims of cybercrime than the victims of conventional crimes.
America Crime poll
Since 2009, Americans' anxiety about identity theft has consistently topped their fears about other crimes by at least 19 percentage points.
This year's gap between fear of cybercrime and the next-greatest level of crime worry, having a car broken into, is a wide 28 percentage points.
These data come from Gallup's annual Crime poll, conducted October 5-11. In recent years, there has been a steady stream of reports about large-scale data breaches, including at Equifax in 2017, Anthem in 2015, Home Depot in 2014, Yahoo in 2013 and 2014, and Target in 2013.
Americans' consistently high anxiety about cybercrime may be attributable partly to these media reports about high-profile incidents.
Gallup has asked Americans about their fears of being the victims of various crimes since 2000. However, cybercrimes are relatively new additions to the list. U.S. adults have been asked intermittently about worry about identity theft since 2009.
The item about hackers stealing personal information was added to the survey this year, though prior surveys included questions on narrower cybercrime-related issues.
While Gallup's trend on Americans' worries about cybercrime is limited, it has been relatively consistent.
The percentage of Americans who worry frequently or occasionally about being a victim of identity theft has hovered between 66% and 70% since 2009. ■


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Heres a better look at the upcoming Linkin Park Hybrid Theory album Funko Pop figure
Here’s our first look at the Gamestop exclusive The Mandalorian flying with blaster Funko Pop figure
Here’s a look at the leaked photo for Hasbro’s Marvel Legends Cyborg Spider-Man which may be revealed this November
Here’s a look at the upcoming Meisho Movie Realization The Mandalorian Official Images which will be on sale soon
Here’s a look at the official images for Damtoys Resident Evil Leon Kennedy 1/6th scale figure which is coming 2021!
Funko will be releasing four new Marvel Zombies Funko Pop Jumbo Sized figures and will be exclusively available on Walmart
The classic toyline Dino-Riders have returned in a different format from what we were used to. Its now on preorder on Entertainment Earth


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Pre-registration for the TFWA World Exhibition & Conference and the TFWA Innovation Lab is now open via TFWA.com. To register for this year’s event, please visit TFWA World Exhibition & Conference
The TFWA World Exhibition & Conference will offer delegates an unparalleled opportunity to view the latest brand innovations, network with leading players in duty free and travel retail, and join the debate on pressing industry issues in a comprehensive conference and workshop programme. This essential industry gathering will take place at the Palais des Festivals in Cannes from 29th September to 4th October 2019.
This year’s show will see the debut of the new TFWA Innovation Lab, which is a development of TFWA Digital Village. Situated at a new location within the event perimeter close to the Majestic Beach, it will provide TFWA Innovation Lab exhibitors with the opportunity to showcase novel ideas and fresh thinking in areas such as customer engagement, digital technology, brand activations, instore design and sustainability. It will run from Tuesday 1st October until Friday 4th October 2019 alongside the main exhibition.
Additional changes at the TFWA World Exhibition & Conference include increased exhibition space at the Beach Village, a new location for the registration area at the Gare Maritime, and a new venue for the Opening Cocktail, The Scene and Le Premium Evening, which will now all be held at Port Canto. For the first time, the Opening Cocktail will be open to all visitor and exhibitor badge holders, while delegates registered under the full delegate package and attending Le Premium Evening will have full free access to The Scene nightspot on Thursday night.
TFWA President Alain Maingreaud said; “At a time of both great challenge and opportunity for duty free and travel retail, this year’s TFWA World Exhibition & Conference will aim to showcase industry excellence and provide solutions in a fast-moving world. I’m certain that our new TFWA Innovation Lab and our great line-up of exhibitors and speakers will provide delegates with essential new ideas and inspiration to help drive their businesses forward.”
For more information and insights on fresh developments within the duty free and travel retail industry, as well as a preview of what to expect at the TFWA Innovation Lab.


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When Highway 74 reopened after being completely closed, the Idyllwild business community was relieved. However, business was still rough for Idyllwild. At the June 13 community meeting at the Idyllwild School, Caltrans and Third District Supervisor Chuck Washington let the community know that the weekend pilot car hours would be extending.
Since that decision was made business has improved and some businesses have had record-breaking months.
“The mountain is already somewhat isolated from the valley and surrounding cities, and the current condition of the roads make it even more,” stated Washington in a phone interview. “That is why we wanted to push for the billboards, social media and advertising campaigns. Idyllwild businesses depend on tourism.”
Julia Ledesma of The HELP Center Thrift Store responded that they had a record-breaking June and that business has increased 25% since the roads opened on the weekends when asked how her business has been impacted.
“We have seen an increase in business since the pilot car hours have extended on the weekends,” El Buen Cacao owners Jessica Ramirez and Erik Landis commented on the extended road hours.
“Business has been really good for us,” said Eva Gioeli, co-owner of Idyllwild Gardens. “Although, we have nothing to compare it to because we opened in April. The road situation definitely benefitted us because people are not driving down the hill to Lowes and Home Depot. They are shopping with us.”
Some local restaurants seem to be benefitting from the extended road hours. Staff at Ferro said that the difference has been noticeable from where they were to where they are now, and that business really picked up Fourth of July weekend.
Ferro’s sister restaurant, Idyllwild Brewpub is doing extremely well, according to the Ferro staff who commented.
Tommy’s Kitchen owner Kristen Bachmann has seen a small increase in sales, maybe 5-10%. She commented that the local deals and some of the restaurants being closed during the week have helped her sales.
The advertising campaign launched by Washington’s office included our very own Mayor Max, who has also been very busy promoting Idyllwild.
Phyllis Mueller, Mayor Max’s chief of staff, was shocked by how many people attended the Fourth of July parade. Mueller had 2,000 Mayor Max buttons made to hand out at the parade. She was out by the time they were half-way through the route. Mueller estimates that the parade drew 5,000 people to Idyllwild that day, and that the parade had just as many attendees as prior years.
Washington collaborated with Mayor Max on a media campaign. “We would love you pets to bring your humans up to Idyllwild,” stated Washington in the promotional video. “You’ll have a great time.”
“Right after the storms, our business had a slump for the first month,” stated Chris Johnston, co-owner of Middle Ridge Winery Tasting Gallery. He thinks that had to do with the fact that the media was basically saying we had fallen off the face of the planet. However, the business rebounded and has been good ever since.
The storms on February 14, 2019 caused major damage to highways 74 and 243. The work on Highway 74 has made major gains over the last few months, even with the post-February 14 storms. Even though there is not an anticipated date for the reopening of Highway 243, officials are optimistic that Highway 74 will be open with flagging control by Labor Day.


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Could the US be contemplating the idea of a digital currency? With the recent coronavirus pandemic and its impact on the US economy, the idea of a digital currency that would be issued by the central bank was raised by some US politicians.
The term “digital dollar” and “digital wallets” appeared in two draft bills dated March 22, 2020. The two bills, “Take Responsibility for Workers and Families Act”, and the “Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act” introduced the idea of digital currency as a way to deliver stimulus payments to US citizens.
The bills define the digital dollar as “a balance expressed as a dollar value consisting of digital ledger entries that are recorded as liabilities in the account of any Federal Reserve Bank.” Additionally, the digital dollar is also stated as “an electronic unit of value, redeemable by an eligible financial institution (as determined by the Board of Governors of the Federal Reserve System).”
A Digital Form of Cash
It sounds like a lot of words to absorb, but it is actually an interesting concept. We usually think about digital currencies in the context of bitcoin and other cryptocurrencies. These are all decentralized forms of currency. But the proposal is that the central bank should consider issuing its own form of digital currency. This digital currency would essentially be an electronic version of physical notes and coins. But unlike bitcoin, this currency would be centralized. The Federal Reserve’s central bank or another central authority can administer it.
This means that the Federal Reserve would issue stimulus payments in a digital form. In order to access this digital currency, you would need a digital wallet. The bill describes this as, “a digital wallet or account, maintained by a Federal Reserve bank on behalf of any person, that represents holdings in an electronic device or service that is used to store digital dollars that may be tied to a digital or physical identity.”
The latest versions of the draft bills have removed the terms “digital dollar” and “digital wallet”. However, it appears that the central bank may be exploring the idea of a cashless society by creating a central bank digital currency or CBDC.
CBDC ensures financial inclusion
There are a number of reasons to consider using a CBDC. A CBDC would make it easier to extend aid to vulnerable members of the population. This would include those without access to the current banking system.
In issuing its first round of stimulus payments, the government noted in a memo that a significant proportion of the population, estimated at roughly 32 million were “unbanked” or “underbanked”. In other words, they either had no bank accounts or used financial products outside of the banking system. Another 550,000 were homeless with no mailing address.
Vulnerable populations like this one are at risk of not getting the assistance they need. By using a digital currency, these ones would be able to receive payments without the need for access to a physical bank. The cost would be less than sending a physical cheque and would require the services of a financial institution. This means those in need will receive a greater percentage of the aid money. Currently, some of these donated fees are going towards service fees. This could be eliminated with blockchain technology.
Benefits of a CBDC
Using digital currency to administer relief payments is just one of the reasons a CBDC is being considered. Other reasons to implement a central bank controlled digital currency include:
1. Revolutionizing the Role of the Bank
Cryptocurrencies are challenging the traditional role that central banks play in monetary policy. With it, individuals are able to store, spend, and move value without relying on a fiat currency. Against this backdrop, central banks are looking at analyzing and understanding the potential effects of introducing a CBDC. It may be a necessary step in order to remain relevant and provide a credible alternative to cryptocurrencies.
2. Less Government Control
Governments control fiat currencies and use central banks to determine monetary policy and influence the economy. Non-governmental bodies that create their own control, take back some of this control. This has implications on fiscal policy and financial intermediation.
3. More Options
CBDCs will allow central banks more options when it comes to setting the monetary policy. For instance, central banks would be able to implement a negative interest rate policy. Or as an alternative to quantitative easing, it could be used to make “helicopter drops” of newly created cash to all citizens to increase aggregate demand.
4. Increased Access
Are we becoming a cashless society? Society in general is finding that It is more convenient to use cashless payment systems. We see this in the use of credit/debit cards, apps, and contactless payment systems. Creating a digital currency will ensure that the public will still have access to legal tender. This is especially important if cash becomes phased out.
5. Eliminate Crime
Switching to digital currency would help governments in their efforts to eliminate crime. Since cash is difficult to trace, it is attractive for money laundering, tax evasion, and illegal transactions. As well, there are security risks in transporting funds, and when payments are made, there are no records of exchange. Governments can use digital currencies to eliminate crime and increase tax receipts.
6. Safer System
It will make the financial system safer. With CBDC, individuals, companies, and non-bank financial institutions will be able to settle with the central bank directly instead of through large banks. This significantly reduces credit risk and concentration of liquidity in payment systems. It will also eliminate the need for government guarantees on deposits, and provide a risk-free liquid alternative to bank accounts.
7. Saving Money
It may be more cost-effective. With physical currency, we must pay to store and transport the money between ATMs and banks. With digital currency, all operations will be electronic and data will be stored on computers. The money will be easier to track with greater precision and accuracy as accounting will be computerized.
The US is not alone in looking at the use of digital currencies. In fact, other nations already have projects in the works. Sweden is piloting a project using Accenture. The UK’s Bank of England has published a discussion paper about their plans to implement a CBDC. In fact, according to one source, 80% of the world’s central banks are exploring the idea of digital currencies, although most are still in the pure conceptual research or experimental stage.
CBDC is Not Cryptocurrency
It is important to note that a CBDC is not the same as a cryptocurrency. It borrows some properties of a cryptocurrency but with some differences as well. A CBDC is not decentralized. This is because the government issues the currency. Central banks control the CBDC and make decisions on money supply and transactions. It is basically a digital version of a fiat currency. The main thing to note is that the value of the currency is stored on a computer system.
Unlike a cryptocurrency that is not owned or managed by anyone, a CBDC is trusted and permissioned since it is managed by an entity and requires membership. A cryptocurrency uses an open and distributed ledger which allows for transparency. A CBDC, on the other hand, would need to comply with financial laws and regulations regarding data confidentiality. This will be done form of Distributed Ledger Technology (DLT) and is implemented as a private network.
Like cryptocurrencies, you can access a CBDC through a digital wallet. A digital wallet is a software that stores your public and private keys. The wallet allows you to interact with the blockchain to send and receive digital currency and monitor your balance. It does not store the actual currency itself. Rather, it would only hold the keys.
The public key is the address that a user would use when sending and receiving funds. We can liken it to a bank account number. The private key is what proves ownership of the public key and is similar to a PIN number. In the proposed bill, the central bank will manage the digital wallet on behalf of its citizens.
CBDC and Its Effect on Monetary Policy
As discussed earlier, one reason to implement a CBDC is that it would open up new instruments of monetary policy. In the past, central banks have relied on policies such as lowering interest rates to near-zero or even negative rates. But these have failed to produce the desired effect of stimulating bank lending, borrowing, and increased economic activity.
Monetary policies use quantitative easing to push down interest rates across a wider range of financial markets. However, rather than stimulating the real economy, it has resulted in increasing the prices of bonds, shares, and other financial assets. This has in reality created more wealth for the already wealthy since only a small percentage of the population owns these assets. And the trickle-down effect of increasing spending in the real economy has not been realized.
With CBDC and the use of digital wallets, it would be possible to use an alternative approach called “helicopter money”. In this approach, central banks would create new money. The money created can then be distributed equally to all citizens. This will increase their ability to spend, without increasing their debt.
Unlike quantitative easing, it would benefit everyone equally as they would now have extra money to spend on consumer goods, paying down debt, or investing. Digital currencies, linked with digital accounts or wallets maintained by the central bank, would create an easy channel with which to distribute this money.
CBDC as a way to “future proof” the US dollar
A whitepaper, published by Accenture and the Digital Dollar Foundation, explains the need to “future proof” the US dollar if it is to retain its status as the world’s reserve currency. This was especially important in light of the fact that other nations were already looking to launch their own CBDCs, in particular, China.
Having a CBDC would increase competition in international payments and would help to integrate financial markets. Experts believe that the US has the most to lose if it falls behind in the race to roll out a CBDC that would achieve international use.
The whitepaper also points to the decline in the use of cash and the benefits of financial inclusion as other reasons for a CBDC. It advocates a “champion model” in which a CBDC would exist as a third form of money besides fiat currency and commercial bank money.
Finding the right balance
A CBDC administered by a Central Bank gives rise to concerns about privacy. Unlike cash which is anonymous and private, a CBDC would be easier to track and audit. In a worst-case scenario, it may be used to monitor a citizen’s activities, and to freeze funds or prevent money from moving overseas.
In developing a CBDC that would be acceptable to its citizens, central banks need to find the right balance between anonymity and full traceability. And as with all things digital, they need to adopt the highest standards of cybersecurity to prevent issues with hacking.
The Future of CBDCs
The need for a central bank digital currency is being driven by advances in technology, the rise of digital currencies, and the decline of cash. Central bank digital currencies hold promise in changing the way we transact value.
It combines the benefits of cryptocurrencies, i.e. high speed, low transaction cost, disintermediation, with the benefits of traditional currencies, i.e. price stability and status as legal tender. The move to digital currency would allow governments to modernize and upgrade an outdated infrastructure with new technology.
Will the US create its own digital currency?
In response to the request to explore this possibility, the US Federal Reserve recently stated that it has indeed “assessed and continues to carefully analyze the costs and benefits of pursuing such an initiative in the US.”
However, it also went on to say: “To date, our observation is that many of the challenges [CBDCs] hope to address do not apply to the US context.” So while the idea of a CBDC is on the radar of the Federal Reserve, it may yet be years away from implementation.
To learn more about digital currencies like cryptocurrencies and how to start using them today, the HedgeTrade can be a great place to dip your toes in the investing pool. To sign up, you can visit app.hedgetrade.com/signup!


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This is an automated machine translation of an article published by Business Insider in a different language. Machine translations can generate errors or inaccuracies; we will continue the work to improve these translations. You can find the original version here.
With the arrival of the coronavirus, all activity was limited to inside the home, so many businesses had to close until further notice.
One of them was gyms, which realized that they could reinvent themselves and continue to offer their services during the pandemic and the successive confinements. But in a different way.
Although it is not easy to compete with the famous influencer Patry Jordán and her Virtual Gym with free workouts or other services such as Apple Fitness, Spanish millionaires found alternatives to stay in shape.
Why follow workout routines without material when you can create your own gym at home?
Well-known premium gym equipment companies in Spain, such as Technogym or Thomas Wellness Center, already offered this service, but it was not until the outbreak of the COVID-19 crisis that they saw their business grow exponentially.
The rise of luxury 'home fitness'.
Home fitness has boomed in the last year. According to Technogym's latest public figures, in the first 9 months of 2020, home fitness grew by approximately 60%.
"The boom in demand for home fitness products has partially offset the temporary slowdown due to the pandemic in other segments more focused on businesses than individuals," says Nerio Alessandri, president and founder of Technogym.
The millionaires jumped into creating home gyms because they were afraid of going to conventional facilities and catching the disease. But they could also afford it.
"Obviously fear is something that exists and fear paralyzes people," explains Tomás Junquera, CEO of Thomas Wellness Group. "If you can afford it, who wouldn't like to have a home gym or a spa?".
Another reason behind this trend is that health has gained positions on many people's list of priorities.
The World Health Organization (WHO) itself noted, in a report, how important a role physical activity played in times of confinement, recommending at least 150 minutes a week of moderate-intensity physical activity.
Quality, innovation, and customization
While overall there has been an increase in demand for equipment and creation of home fitness spaces, millennials are looking for added value when deciding: quality, customization and innovation.
To attract the attention of the upper class, companies like Technogym have turned to smart devices, with Netflix-style platforms.
The Technogym Live tool allows users to choose from their connected devices a wide variety of workout videos based on their personal preferences and goals: from the trainer leading a session and athletic-oriented routines to immersive outdoor experiences.
In addition, all the information collected is stored in its own Mywellness platform or cloud, regardless of the branded device you are using.
Another of the features that most attract the attention of users with greater purchasing power is the ability to customize and adapt the materials to the available space, but also to the decoration of the house.
Technogym offers products focused on very limited spaces, such as MyRun or Technogym Bike, a treadmill and a smart bike that have a wide range of workouts in a small size that fit in any room.
Likewise, Nerio Alessandri's company also seeks to keep their high-end customers happy and to ensure that their products don't break the décor of their homes. Therefore, they have created a high-end design line in collaboration with designer Antonio Citterio, so that the equipment integrates with the style of the space.
As an official supplier to the Olympic Games up to 8 times, Technogym has also created a line focused on professional athletes and sports enthusiasts: Skill Line.
The price of ostentation
Achieving these 3 added values comes at a price and is not accessible to all pockets, as these are premium brands.
At Wellness Group, conventional gym equipment, such as weights or dumbbells, can range from 250 to 300 euros but, if you want to do a more professional workout, the equipment amounts to between 300 and 1,000 euros.
However, once cardio machines come into play, prices shoot up considerably, with equipment ranging from 1,500 to 18,000 euros, such as some treadmills that are installed with some frequency.
"If we were car dealers in the United States, our brands would be Ferrari, Porsche or Aston Martin," notes Tomás Junquera.
Some people with high purchasing power have even bought up to 25 machines for their home gym.
Junquera explains that in 2020 they managed to sell their entire stock of equipment, not only because it was of high quality, but because there was a shortage of equipment in general.
"The shortage of material has encouraged the purchase of high-priced products," adds the CEO of Wellness Group. "This year everything has sold out, the expensive and the cheap."
Will millennials return to conventional gyms?
Although we are beginning to see light at the end of the tunnel with vaccination campaigns around the world, there are still many uncertain months ahead with constant openings and closures, and even a fourth wave is expected once Easter is over.
It is clear that until optimum cruising speed is reached and the vast majority of the population has received their respective doses, gyms will not be able to operate as normal.
However, the question is whether, when that new normal is reached, with no capacity restrictions, no face masks and no social distancing, millennials will return to conventional gyms.
The CEO of Wellness Group explains that, in the 26 years he has been working in this sector, there have been many clients who have created their own gyms at home and still remained members of sports clubs.
"Those who are regular gym users will continue to go to the gym," confirms Tomás Junquera. " Homefitness is an extension, a complement to not lose the habit of training that also allows you to take advantage of time with your family and not skip routines."
In addition, despite the fear that might come with going to an enclosed, unventilated space with crowds of people, the upper class is eager to socialize and interact with others who share their hobbies.
"Society is going to consume more sports, they're going to do more activities and they're going to do them through more channels," Junquera adds. So sooner or later, the inevitable will happen — a return to their trusted gyms.


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Recently, Google added 13 new languages, including Hindi, Bengali and Punjabi, that its service Google Translate can now read and translate into other languages that user understand. The company has now announced that it has enabled the real-time translation of 40 languages, including Hindi and Bengali, on all Assistant-supported headsets and phones. Previously, the real-time translation feature was only supported on Google's Pixel Buds -- AI powered earphones that Google launched last year with the Pixel 2 and the Pixel 2XL smartphones.
- Compare Mobile Phones NewsIn DepthPress ReleaseHow to'sReviews
- Digit SquadVideosPhotos Contest Hot Deals


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Across the world, millions of football-mad internet users are watching Premier League matches online. But how many might be convinced to pay for coverage of their favorite sports?
At GlobalWebIndex, we believe the prospects for monetizing this audience are strong. Drawing on the world’s largest on-going study into the digital consumer, our latest research on Premier League fans – covering 32 markets, 200,000 individuals per year and almost 90% of the world’s internet population – shows that some 16% of online adults are catching Premier League games online.
What’s more, 6 in 10 of those who identify themselves as Premier League Fans say they’re watching some form of sports program online each month. And about a third are going online to catch games from other European leagues, such as La Liga, the Bundesliga or Serie A.
Look at the figures on a regional basis, though, and it’s clear that Asia is pretty key to this trend. The Premier League is wildly popular among the online populations of many Asian countries, where online viewing is booming. As many as a quarter of internet users in Vietnam and Thailand are watching Premier League games online, for example. And in China, almost as many people are watching games online (31%) as are tuning in via a TV (34%).
Source: GlobalWebIndex Q4 2014, Base: Internet Users Aged 16-64
Age has a big impact here too, with younger fans at the very forefront of the trend. Globally, 16-24s are in fact about four times as likely as 55-64s to be watching the Premier League online.
Even so, one fairly crucial question remains: will Premier League Fans part with their cash to obtain online sports coverage?
Well, firstly, it’s important to note that Premier League Fans are more likely than the average internet user to be paying for online content. About a quarter pay for a TV streaming service monthly, for example.
Secondly, Premier League Fans around the globe are clearly eager to access high-quality online sports coverage. Globally, 4 in 10 have used a VPN/Proxy Server, allowing them to access content like sports coverage that is officially geo-restricted. Fans in Asia are leading this trend – half in Indonesia and Taiwan have used a VPN, with Turkey (44%) and Thailand (43%) also posting high figures.
Many still assume that VPN users are turning to these tools in order to grab content for free. In actual fact, GlobalWebIndex’s research shows that VPN users are much more likely than average to pay for most forms of digital content. Primarily, then, this is a question of availability rather than cost. Give VPN users proper/easier forms of access to digital content and revenues are likely to follow. And that’s pretty important food-for-thought when it comes to monetizing online sports coverage in Asia in particular.
By Felim McGrath, trends analyst at GlobalWebIndex.


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The Swedish Supreme Administrative Court has overruled a decision by the country’s local government that prohibited sales of food supplements, declaring the ban to be ‘without constitutional support’.
The Swedish municipality of Naka’s Planning and Environmental Services Committee instructed Greatlife Group, to stop selling vitamin D supplements citing the product’s daily dose of 123 micrograms (μg) to be a health risk to consumers.
However, Sweden’s final court of appeal reversed the decision made by the National Food Agency, which instructed Sweden’s municipalities on recommended ULs (Upper Limits) levels on vitamins and minerals.
‘No official, legally binding maximum permitted levels’
“There are no official, legally binding maximum permitted levels (MPLs) threshold values for vitamins or minerals,neither under Swedish law nor within the regulatory framework of the European Commission,” explained Rolf Forslund of Kenkou Selfcare.
“On the other hand, food supplement contents are regulated by the Food Supplement Directive 2002/46/EC,issued by the EU Commission with the aim of harmonising the trade of food supplements, and which is incorporated into Swedish law.”
The ruling received unanimous praise from the Nordic Food Supplements Alliance, formed in 2015 as a response to instructions issued by the National Food Agency, which the Alliance said had hurt sales.
In 2016, Swedish courts overturned a decision made in October 2013 , by the local authority in Gävle, Sweden, which ordered Great Earth Scandinavia to reduce vitamin B6 (pyridoxine) levels of its supplements to “below the European Food Safety Authority (EFSA) set upper limit value of 25 mg per day” .
Mats Nilsson, managing director of Svensk Egenvård, another firm affected by Swedish authorities’demands told NutraIngredients: “This last year we’ve seen several sales bans and both the industry as well as the authorities have been waiting for this court ruling for guidance. One other case has been closed with the same ruling and it refers to this one.”
The latest ruling
Court documents seen by NutraIngredients state the Committee’s decision was based on ‘the food supplement possibly entailing health risks for consumers and therefore not being regarded as safe in accordance with the EU law rules for food’.
As grounds for this assessment, the Committee referred to the European Food and safety Authority (EFSA) as having assessed the maximum safe daily dose of vitamin D to be 100μg.
Swedish-based Greatlife Group, distributor of the vitamins made by US Company Foodstate, countered arguing that the Committee did not conduct its own risk analysis.
The firm added that the Committee based its decision on the report by EFSA that was conducted back in 2012 and that it should not have been deemed ‘the authority’ in this matter.
“The issue concerned is of a working tool for the Commision’s ongoing work to produce supplementary rules,” the document stated.
“Subsequent research shows that significantly higher daily doses of vitamin D do not have any harmful or adverse effects.
“As no limits for vitamins in food supplements have been determined, the company has not breached any rules and there are therefore no grounds to intervene against the sale.”
Most recent research crucial
Speaking after the verdict, Forslund said if and when MPLs vitamin or mineral threshold values were imposed within the EU or at a national level, the EU’s Court of Justice (CJEU) had already stated that the most recent research had to be taken into account.
“The balance between risk and benefit must also be given more careful consideration according to the European Commission and risk assessment institutions like TNO,” he added.
“However, MPLs threshold values are not really needed, neither nationally or within the EU. Again, the CJEU has already clearly established that food supplement labelling that gives the consumer clear information is the most proportionate measure.
“This allows free trade between the Member States to continue whilst at the same time provides adequate protecting to the consumers. Many EU countries already practice this.”


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The PGA Tour Superstore plans to seek a variance from the city to allow the stars and stripes - 30 feet by 50 feet - to fly from a 100-foot flagpole, said Paul Rodriguez, district manager for the Atlanta-based company.
The 47,000-square-foot golf and tennis store northwest of Shea Boulevard and Loop 101, opened Oct. 11.
A new Chandler PGA Tour Superstore has a 30-foot-by-50-foot flag on a 100-foot pole, and other stores in the chain have even larger flags on poles of 135 feet.
"With the wind blowing, they are just plain awesome," Rodriguez said. "You can see them from a mile away."
Scottsdale's zoning code limits spires, which includes flagpoles, to no more than 65 feet, said Tim Curtis, a Scottsdale principal planner.


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Billions of DVDs headed to digital cloud, Warner executive says
This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.
To get consumers excited about managing their movies online and steer them away from cheap rentals and piracy, Warner Bros. wants to lead the way in persuading people to convert billions of DVDs into digital files.
Warner Home Entertainment Group President Kevin Tsujihara discussed the studio’s new initiative, called ‘disc-to-digital’ at the Morgan Stanley technology, media and telecom conference in San Francisco on Wednesday. It will allow consumers to use a variety of methods to turn their DVDs into digital copies stored in a virtual ‘cloud’ that they can watch on Internet-connected devices.
‘’Disc-to-digital’ is the solution to unlock the value of existing libraries,’ Tsujihara said. ‘We’re leading industry efforts to launch services so consumers can convert libraries easily, safely and at reasonable prices.’
The first phase of ‘disc-to-digital,’ Tsujihara said, will let DVD owners take their discs into stores that will handle the digital conversion. Later on, Internet retailers like Amazon.com will email customers to offer digital copies of DVDs they previously bought. Eventually, consumers will be able to put DVDs into PCs or certain Blu-ray players that will upload a copy, similar to the way people turn music CDs into MP3 files.
Tsujihara didn’t say when digital conversions would start or how much they would cost. He did mention that people who own standard DVDs will have the option of getting a high-definition digital copy for an extra fee. The potential audience is huge, the Warner executive said, given that about 10 billion DVDs have been sold in the U.S. and another 10 billion overseas.
‘Disc-to-digital’ could help to promote UltraViolet, the multi-studio initiative that gives consumers digital copies of new movies they buy on DVD. As the chief executive of Warner Bros.’ parent company Time Warner Inc., Jeff Bewkes, did Tuesday, Tsujihara defended the rocky start for UltraViolet last fall. However, he added, ‘The launch wasn’t perfect, I’ll be the first one to admit it.’
Persuading consumers to keep buying movies and building collections in the digital age is crucial to the bottom line of Warner Bros. and Hollywood’s other major studios, Tsujihara said. Sales are 20 to 30 times more profitable than low-cost rentals from Redbox or Netflix.
-- Ben Fritz


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Some Russian companies don't want to be called "Russian companies," and they take active steps to conceal their nationality.
I've noticed a pattern after interviewing many Russian business leaders. One insisted that his Moscow-based business was Estonia-based for having a small office there. Another suggested that the location of one key employee — London — merits calling his a "London company." Another took a direct approach, simply asking that the word "Russia" not appear in anything written about him.
The obfuscation takes different forms, but it achieves the same end: Russian entrepreneurs are diluting their national identity to make their products and services more palatable to the world's consumers. This doesn't jibe with my perception of Russia as a generally proud nation. When I raised the issue in private with a Russian friend, he agreed that his country is prideful but suggested it can also be "quite shameful."
Russian entrepreneurs endeavoring to do meaningful business on the world's stage face an uphill battle. Regardless of industry, publicly identifying as Russian opens the door to negative stereotypes about election-meddling hackers or fraudulent businesses operating in the same region. It's an unenviable position: how do you represent yourself when the truth is a perceived liability?
I found two young entrepreneurs willing to speak on the record about doing business while Russian.
" Dark Crystal Games is a Russian company," said Viacheslav Kozikhin, the 28-year-old creative director who started the studio last year. "Our core team is in St. Petersburg, but we cover every time zone in Russia. We have employees scattered from Moscow to Chelyabinsk to Vladivostok. We even have people in the US and Europe, but everyone knows we are Russian," he said. "My accent is very thick."
Kozikhin agreed that Russian business identity can be a problem, especially if that business wants to raise money internationally. Dark Crystal has one institutional investor, a Russian, but the company just closed a successful Kickstarter campaign that generated 100,000 euro in pre-orders for its newest game, Encased.
"Kickstarter doesn't involve politics," Kozikhin said. "You just need an audience that likes your idea, then you deliver it." Encased certainly found its audience: some 3,000 individuals pledged their money to the game, which another publication describes as "Russian Fallout."


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The U.S. patent system could be inching closer to an overhaul long desired by the technology industry.
Just before departing for their summer recess on Thursday, Utah Republican Orrin Hatch and Vermont Democrat Patrick Leahy,who serve as chairmen of the U.S. Senate's intellectual-property panel, introduced a 45-page bill that proposes a number of changes to the way American patents are awarded and challenged.
Called the Patent Reform Act of 2006, the measure would shift to a "first to file" method of awarding patents instead of the existing "first to invent" standard, which has been criticized as complicated to prove. The bill would also establish a "postgrant opposition" system that would allow outsiders to dispute the validity of a patent before aboard of administrative judges within the Patent Office, rather than in the traditional court system. The idea behind such a proceeding is to stave off excessive litigation.
The Leahy-Hatch bill won immediate praise from a recently formed group of mostly technology-oriented companies and trade associations, the Coalition for Patent Fairness. Its members include the Business Software Alliance, the Information Technology Industry Council, Apple Computer, Comcast, Dell, Intel, Time Warner, Visa and Microsoft.
News source: CNET News.com


text: In March, the U.S. trade gap widened to $40.4 billion from February's $39.4 billion, according to an IHS Global Insight international trade balance report. Sounds like bad news, right? Not necessarily.March export volumes rose 3.4 percent and value increased 3.2 percent, while import volumes climbed 3.5 percent and value went up 3.1 percent.“This was a positive report for the U.S. and global growth outlook,” the IHS Global report states. “It showed sharp increases in both export and import volumes, indicating that the world trade recovery still has plenty of momentum.”Global trade recovery signs are rampant in the intermodal sector. In the first quarter, total North American intermodal volume surged 8.4 percent and international container volume climbed 7.8 percent — jumping 18 percent in March alone — compared with the same 2009 periods, according to the Intermodal Association of North America. In addition, international intermodal shipments grew faster than overall long-haul truck moves in Q1, according to FTR Associates.“The stars are aligning for what could be an acceleration in intermodal share growth,” said Lawrence Gross, a FTR senior consultant, in a recent report. “Active truck capacity is coming into balance with demand, and even a modest increase in freight demand could lead to shortages of truck drivers and, hence, truck capacity, resulting in more opportunity for intermodal. Increases in fuel prices and the continued rebound in international shipments will also aid share growth.”After a dismal 2009, international intermodal traffic could stand a serious boost in 2010. That the tealeaves and Tarot cards suggest it’ll happen has to be big-time encouraging for the rail industry’s biggest intermodal players.


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Local fans of the Japanese character Hello Kitty have reason to rejoice.
The iconic feline will be visiting Greater Cincinnati at the Kenwood Towne Centre in the form of a food truck. The Hello Kitty Cafe Truck has been touring the U.S. since October 2014 and will be making an appearance at the mall on Saturday, April 28 from 10 a.m. to 8 p.m.
Spreading fandom through merchandise and cutesy cartoons, Hello Kitty has been a worldwide craze for more than 40 years.
The Cafe Truck will be selling Hello Kitty cookies, packet pies, macaroons, stainless-steel thermos bottles, bow-shaped water bottles, headbands, keychains and T-shirts.
WANT TO GO?
WHAT: Hello Kitty Cafe Truck appearance
WHEN: 10 a.m.-8 p.m. Saturday, April 28
WHERE: Kenwood Towne Centre (near the Cheesecake Factory at 7875 Montgomery Road)


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Dietary supplements are hazardous and unsatisfactory, according to the food authority.
A review conducted by the Food Safety Standard Authority of India (FSSAI) discovered that almost 15% of protein powders, nutritional supplements used by athletes and bodybuilders, supplied in India were dangerous for consumption or substandard.
According to the regulator’s assessment, 4,890 out of 144,345 samples taken between 2021-22 were harmful for ingestion, and 16,582 were substandard, according to an official familiar with the situation who requested anonymity. Furthermore, the individual stated that over 11,482 samples contained labelling flaws and false information.
In light of the findings, the FSSAI filed 4,946 criminal prosecutions and several civil lawsuits. Doctors warn that taking dangerous protein powders, which are often used by young people to gain muscle growth, can injure the kidneys, liver, and heart, among other organs, and create other health problems. The FSSAI has issued specific guidelines to govern the manufacture and marketing of protein powders and other nutritional supplements in India.
The food regulator conducts drives across states on a regular basis to check food company owners, including protein powder makers.
In addition to criminal prosecutions, the authority has started civil actions in 28,906 instances, resulting in the punishment of 19,437 offenders and a penalty of 53.39 crore.
Dietary supplements have witnessed rising demand in recent decades, according to health experts, especially in India. Many young individuals, particularly sportsmen, utilise these products to gain muscle mass. Many of these so-called nutritional supplements, however, can be damaging to the body.
“We see young males with renal issues who want to have a macho body come to us. The majority of boys are between the ages of 20 and 30. When we inquire about their lifestyle, they explain us that they attend to the gym and eat protein powder as prescribed by their gym trainer. However, there is no direct correlation, but a frequent element in the usage of protein supplements is a lifestyle patterns”. Dr. H. Jauhari, chief of the kidney transplant department at Sir Ganga Ram Hospital, advised such patients to discontinue use of the protein powders immediately.
The Indian dietary supplement industry is predicted to rise to 84,790 crore by 2027, up from 37,630 crore in 2021, according to researcher IMARC Group.


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Weekly Market Commentary 4-25-11
Higher Gas Prices-Who's the loser?
Tim Phillips – CEO, Phillips & Company
A few weeks ago we mentioned how we had already seen some GDP forecasts revised down to 2.97% from highs in February of 3.20%
Either all of these guys aren’t very good at accurately forecasting the size of the world’s largest economy 12 months in advance or there’s a fly in the 2011 economic ointment they were depending on. My guess is that we are all lousy at forecasting the outcomes of a $14.7 trillion economy 12 months in advance. However, to humor these professionals I wanted to see if one of the flies in the ointment is higher gas prices.
According the Energy Information Administration (EIA), US Regular Conventional Retail Gasoline Prices have risen by 33.90% in the last 12 months.
As seen with current data, politicians generally take a hit in their approval rating for rising gas prices. Even when the economy has been improving Obama’s approval ratings have dropped lately with the spike in gas prices.
Recent research has shown that marginally higher gas prices don't have a large impact on gas consumption, so the real questions are:
- Do rising gas prices have an impact on consumer spending?
- If so, how big is that impact?
To put it another way, how much does a rise in gas prices take from discretionary income? Experts have called this the “Discretionary Income Effect”.
Opinions vary, but according to the US Department of Energy, in 2007 the average percentage of household income spent on gasoline was 4.80%.
If the average income per household is $49,777 (as recorded in 2009) and gas prices are up 33.90% then the lost dollars to other consumables is $810 per year or $67.50 per month. That’s a fairly insignificant amount to those that drive most of the consumption (which are earners above the median income).
While there are other casual implications like:
- Does the uncertainty of rising gas prices drive consumers to save more vs. spend on other items?
- What’s the impact of consumption of durables and specifically items that consume energy?
The bottom line is fairly straightforward, the politicians have much more to lose than our consumption driven economy.
Please send me your thoughts, comments and feedback to firstname.lastname@example.org
Tim Phillips, CEO – Phillips & Company


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Calif. – Sony (NYSE: SNE) Computer
Entertainment America on Monday announced plans to release the first reality
series produced exclusively for its PlayStation Network, which provides
downloadable content for PlayStation 3 and PSP owners. "The Tester"
will see 11 gamers compete to win a job as a game tester with Sony and a $5,000
signing bonus. The first episode of the weekly series will become available for
free download on Feb. 18.


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02 June 2022, VN: According to the Ministry of Agriculture and Rural Development (MARD), in May 2022, the export turnover of agricultural, forestry and fishery products was estimated at over US$5.1 billion, up 18.1% compared to May 2021, up 3. 8% compared to April 2022.
Generally, in the first 5 months of 2022, the export turnover of agricultural, forestry and fishery products is estimated at nearly 23.2 billion USD, up 16.8% over the same period last year. In which, exports of main agricultural products reached over US$9.4 billion, up 10.4%; main forest products reached nearly 7.7 billion USD, up 7.6%; seafood is estimated at nearly 4.8 billion USD, up 46.3%; livestock production was estimated at 138.9 million USD, down 16.2%; export of production inputs about 1.1 billion USD, up 59.3%.
In the first 5 months of 2022, there were 09 products/product groups with export value of over USD 1 billion, including: Coffee, rubber, rice, cashew, vegetable and fruit group, pangasius, shrimp, wood products and input group for production.
Some products have higher export value compared to the same period last year, such as: Coffee export value reached nearly 2.0 billion USD (up 54.0%); rubber export reached over USD 1.0 billion (up 12.0%); pepper export about 476 million USD (up 25.7%); export of cassava and cassava products reached USD 636 million (up 20.3%); pangasius exports reached about 1.2 billion USD (up 91.2%); shrimp exports reached over 1.9 billion USD (up 42.7%); export of wood and wood products reached nearly 7.2 billion USD (up 6.9%); rattan, bamboo and sedge mats reached $426 million (up 19.1%).
Regarding the export market, the United States is still ranked No. 1 with an export turnover of nearly 6.5 billion USD (accounting for 28.0% of the market share); China ranked second with export turnover of over 4.1 billion USD (accounting for 17.8% market share); followed by the Japanese market with an export value of over 1.6 billion USD (accounting for 7.0% market share); the fourth is the Korean market with an export value of over 1.1 billion USD (accounting for 4.8% market share)./.


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When: Thu., April 30, 5-9 p.m. 2015
Downtown Milford’s Ladies Night Out returns this spring for an evening of shopping and dining in the Village, from 5-9 p.m. on Thursday, April 30. Round up the ladies to enjoy giveaways, discounts, storewide sales, freebies, complimentary snacks and beverages at some of your favorite downtown stores and eateries. While exploring downtown Milford, attendees can collect stamps on the official Ladies Night Out postcard at participating businesses. Ladies who collect 10 stamps may enter to win one of 40 gift certificates, worth at least $20 each, by dropping off the completed postcard to any participating location.


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"Samsung cannot change the central fact that its products are strikingly similar to Apple's patented designs," said Apple in its briefs.
Samsung responded by filing lawsuits of its own in Germany, the U.K., and Korea. Then Samsung went to the U.S. International Trade Commission, and so did Apple. Where Apple's initial complaints focused on trade dress and design elements, Samsung's lawsuits pertained to wireless networking and other technologies.
[ A German court bans Samsung from selling the Galaxy Tab 7.7 across the EU. Read more at Apple Wins EU Ban Of Smaller Samsung Tablet. ]
The two companies have been trading barbs, filing paperwork, seeking injunctions, and appealing decisions ever since. Though the scope of the battle between Apple and Samsung is far greater than just the U.S. market, next week's trial, which will be held in San Jose and presided over by Judge Lucy Koh, could produce consequences for both companies in the U.S. and beyond.
As things stand today, Samsung is not allowed to import its Galaxy Tab 10.1 tablet into the U.S., thanks to an initial injunction filed at Apple's request. Samsung was also blocked from importing its Galaxy Nexus smartphone, but that injunction was waived temporarily ahead of the trial.
So what's going to happen next week? Both companies get 25 hours of time to present testimony to the 10-person jury, which will then decide the fate of these two smartphone giants.
Apple is seeking $2.5 billion in damages, which includes a wide array of factors such as lost income, unjust enrichment, royalties, and more. Samsung hasn't offered a dollar amount, but its underlying patents could be worth hundreds of millions in licensing fees if they are found to be valid and Apple is found to be violating them. Samsung is looking for 2.4% of the total sales price of each infringing device, which Apple says is "multiple times more than Apple has paid any other patentees for licenses to their declared-essential patent portfolios." The average selling point of the iPhone (forget the contract pricing, we're talking raw retail) is about $600.
If Samsung wins its 2.4% claim, Apple could have to fork over $14 for each iPhone. Apple sold 26 million of them in the last quarter alone. That's $375 million for the devices sold just in the last three months.
The possible outcomes of the trial are numerous. Samsung could be exonerated of copying Apple, and Apple could be exonerated of violating Samsung's patents. Or they could both be found guilty. More important than the actual legal ramifications will be the economic ones tied to any punishment meted out by the court.
Judge Koh has indicated time and again over the last year her frustration with the two companies. It's impossible to tell what final rulings she might make once the jury delivers a verdict. (Earlier this year, a Chicago judge tossed completely a trial between Apple and Motorola over patents. Judge Posner argued that neither company could prove damages and cancelled the trial.)
One thing is certain, however: the future competitiveness landscape of the smartphone market is at stake. Apple and Samsung together own 54% of the worldwide smartphone market in terms of device sales, and 90% of the profits. The financial devastation that can be wrought on either or both companies is significant. If Apple wins based on its trade dress and design complaints, it could impact other trials that are yet to get underway.
With billions of dollars in sales up for grabs, Apple and Samsung both want their share, no matter the cost to their competitors.
At this year's InformationWeek 500 Conference, C-level execs will gather to discuss how they're rewriting the old IT rulebook and accelerating business execution. At the St. Regis Monarch Beach, Dana Point, Calif., Sept. 9-11.


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Renault in Russia has taken the wraps off its new Logan Stepway, giving the sedan the faux-crossover treatment it has long applied to the Sandero…. Read more →
Images of what appear to be new versions of the Renault/Dacia Logan and Sandero have emerged on the ‘web showing more upmarket styling and hinting at improved quality.
CAR has learned that Renault South Africa is no longer importing its Logan affordable saloon. The Logan has been in South Africa since 2008 and initially caused a stir in the budget-car market when it was introduced for just under R100 000.


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Turing Pharmaceuticals recently faced intense public criticism after the company bought a 62-year-old drug and increased its price by 5,000 percent. Turing’s unusually outspoken chief executive officer, Martin Shkreli, strongly defended the decision, even going so far as to argue that the new price…
En español | Prices for generic drugs most commonly used by older Americans fell by the smallest percentage since 2006, with 1 in 4 rising in price — some by more than 1,000 percent, according to a new report from AARP’s Public Policy Institute (PPI).
Inflation lately has been pretty tame. Still, the possibility that it could raise its ugly head again, eating away at our spending power and standard of living, is always in the back of our minds. That’s why it’s important to understand inflation to better protect ourselves from its potential…
By Jordan Rau, Kaiser Health News Staff Writer, produced in collaboration with NPR
If you don't believe the ultra-low price or attractive finance terms in an advertisement for a new car, your instincts may be right. Some dealers run deceptive ads to lure consumers into their showrooms and then never deliver on their promises, according to a federal regulator.
By Jordan Rau and Julie Appleby, Kaiser Health News
I love walking up to a garage sale and seeing items neatly displayed, clothes hung in groups of like-colors. And everything with a price tag. A sale where each item has been painstakingly tagged with brightly colored stickers-.10, .25, .50...you get the idea.
Search AARP Blogs


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Is it time to buy another vehicle?
That’s a question many Americans ask themselves every year.
For about 112 million the last two years, the answer was “yes,” whether that meant new or pre-owned.
About 29.1 million vehicles – 17.5 million new, 11.6 million used – were from franchise dealerships, with another 26.9 million from non-franchise sellers, including individuals.
How they decided whether to purchase another vehicle could help you answer the question for yourself.
“Some people will hold onto their car forever,” writes Jack Sackman in 8 signs it’s time to buy a new car. “And those people should be applauded. Studies show that the longer people drive their car without payments, the further ahead they are financially. … However, eventually even the sturdiest vehicles wear out and it becomes impractical to keep them running.”
“At some point,” Sackman writes, “common sense needs to kick in and motorists need to accept that it is time for them to purchase another car.”
Two things on which auto and financial experts seem to agree generally is that it may be time to buy another vehicle when the cost of maintaining, repairing, insuring and/or operating your vehicle becomes more than it’s worth or when safety becomes an issue.
For example, the total maintenance on a vehicle driven 175,000 to 200,000 miles – about average for vehicles on U.S. roads – is around $5,000 a year, based on data from PopularMechanics.com, but you probably wouldn’t spend $5,000 on repairs to a vehicle worth less than that.
Ballooning repair costs
And you certainly wouldn’t if repair costs climbed to $7,200 a year, $5,800 a year more than the typical low-mileage vehicle and about equivalent to 12 months of $469 average payments.
“If your mechanic is spending more time with your car than you do, and your repair bills are close to new-car payments, it’s probably time to trade up,” according to Consumer Reports online in Tips for deciding if you need a new car.
(Of course, this math changes if you’re doing much of the repair work yourself.)
The march of technology
You also would have to think about all the technology advances that have occurred since you purchased your car if it’s anything like the U.S. average of 11.6 years old.
“Your current ride probably doesn’t have the latest safety and convenience features, and your warranty has probably expired,” said Consumer Reports. “And no matter how well your car is treating you, even the most reliable models grow more troublesome as they age.”
CR suggests that you should buy a new or relatively recent car now if your current model doesn’t have at least a backup camera, curtain airbags, electronic stability control and forward-collision warning.
“The only older cars worth keeping are the ones that are reliable and safe,” said Consumer Reports.
Don’t buy on impulse
This does not mean that falling in love with a vehicle is not a reason for getting a newer model. Just that it probably shouldn’t be the first or most important reason – an impulse buy – for most people.
Think about whether to get a newer car before shopping, based on financial and safety reasons. Then think about what kind of vehicle fits your lifestyle and your tastes.
“It’s all too easy to go for the quick fix and trot down to a dealership with checkbook in hand,” said CR. “That might cure your automotive longing – at least until the payments start.”
That’s when the rubber truly meets the road – for more than 50 million people a year.


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Jayson Dubin, the chief executive of Deerfield, Fla.-based Playwire Media, said that means that his company will be able to place ads around games on traditional websites and that it will also be able to place ads inside games as well on context-relevant locations, such as in-game billboards. Those ads will also be dynamic, meaning that they can be changed on the fly.
“If you are a marketer and want to reach gamers at scale, there is no one who can match our scale, our global reach, our tech, and now our real estate in the games themselves,” Dubin said.
The Vancouver, Canada-based RapidFire announced in June that it had cut a deal with Miniclip.com to put dynamic in-game ads into web-based games. RapidFire acquired the technology from IGA Worldwide, which tried for years to establish a business with in-game ads for console games. IGA couldn’t make the business work on a large scale, but putting ads inside web games enables Playwire to reach a much larger audience.
Instead of interrupting a gamer’s experience, dynamic in-game ads can be placed in billboards and posters in a 3D game environment. These ads help add to the simulated realism of a game, and that’s why brand marketers are getting more excited about it, whether it’s in console, social, mobile, or PC platforms. Games that use in-game ads include NBA 2K15, The Golf Club, and Rollercoaster Tycoon.
“This is a critical piece to our business,” said Dubin. “Now that we are capable to serve ads during game play in real-time, we are able to deliver advertisers one conduit for all of their in-game marketing needs.”
Playwire Media says it has become the largest digital content ad exchange in entertainment and games. It reaches 83 million unique visitors a month in the U.S. And the company has expanded into music, sports, film, and other sectors of entertainment such as comedy. Worldwide, Playwire Media reaches 311 million monthly unique users. Now it can place still ads inside games, and in some cases, video ads in some games.
During August, the company said it served one billion ads worldwide on mobile alone. It has had 340 million video mobile ad views since it started doing that in December 2013. More than 4,000 developers have joined the Playwire Media ad exchange.
Mobile game developer?
Learn how the most successful games make more money with fewer ads.
Dubin founded Intergi in 2007 as a web ad network with a focus on video games. In 2011, it started Playwire Media to focus on video ads. Playwire Media created a customizable and scalable video player that enables publishers and content creators to monetize and syndicate their video content at no cost. Playwire Media encodes and hosts the content so that the customers don’t have to do that themselves. It provides analytics and matches publishers with brand advertisers via a direct sales team.
Rivals include YouTube, Vevo, Brightcove, and Ooyala.
Prior to the partnership with RapidFire, Playwire Media’s in-game offering was limited to placing preroll ads before, during and after game play sessions on casual games, mobile games, PC digital distribution network Steam, and during livestreaming via the PlayStation 4.
“The global video game industry is growing at staggering rates,” said RapidFire CEO Jordan L. Howard in a statement. “Our partnership unites two powerhouses in gaming, and we are thrilled that a global force like Playwire Media can help us achieve the scalability and sales resources necessary to help us keep up with such an evolving industry.”
“The RapidFire partnership allows us to offer advertisers one conduit for all of their in-game advertising strategies,” said Dubin. “We now have the ability to fully integrate any brand’s messaging into every facet of any gaming experience.”


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According to a report by Juniper Research released today exploring mobile money transfer, developing countries are witnessing unprecedented numbers of mobile subscribers within two or three years from launching a mobile money transfer service.
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Some developing regions will achieve one in five money service users over the next two years, said Howard Wilcox, senior analyst at Juniper Research.
Juniper also predict international mobile money transfer users will more than double by 2013, driven by migrant workers.
Speaking to Wilcox, he said, while there is no direct correlation between developing countries and the UK market, the report shows that mobile commerce is continuing to grow rapidly, as is the importance of mobile transactions in retail situations.


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N'Da Alphonse grows cocoa in Ivory Coast. He harvests the pods, removes the pulp-covered beans, and dries them before selling them to brokers. He'd never seen or tasted the food made from his beans, until a Dutch TV show brought him a sample, as part of a story on class divisions and the global food trade.
McDonalds is testing a “cleaner-label” version of its legendary Chicken McNugget, reports Peter Frost, with an eye to replacing the current model nationwide in time for the Summer Games. If you’re eating in Portland, Oregon, you may already have eaten the upgraded McNugget, which has 32 ingredients and a “simpler recipe,” according to the restaurant […]
You may not love Microsoft Word, but you’ve definitely used it. Other than being one of the most ubiquitous programs on the planet, it’s been the go-to word processing system for more than a quarter-century because it’s as basic as it gets. But occasionally, you’ve got assignments that beg for a lot more options than simple […]
Almost everyone has their smartphone in a case of one kind or another. Beyond simple protection, finding a case that can charge your phone on its own, but doesn’t feel like it’s also adding a couple pounds to the phone’s weight is the tricky part. Billed as the world’s thinnest battery case, the ThinCharge iPhone […]
You never know when new projects, ideas or opportunities can drop into your lap at a moment’s notice. That may require you to learn a new programming language like Python. Or maybe you need a primer on 3D game development. Or you might realize you could use a serious brush-up on iOS mobile creation.Point is, […]


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Govt urged to learn from Barbados on VAT
By TANEKA THOMPSON
Guardian Senior Reporter
Nassau, The Bahamas
Days after Governor of the Central Bank of Barbados Dr. Delisle Worrell said value-added tax (VAT) has hurt that island’s tourism industry, Free National Movement (FNM) Chairman Darron Cash said the criticism should give The Bahamas government another reason to delay VAT’s introduction.
Last week, Worrell told The Nassau Guardian that he has seen “declining enthusiasm” for VAT in Barbados, adding that the tax is “anti-tourism”.
Worrell also said Barbados’ VAT system is a “mess”.
“The recent comments from the governor of the Central Bank of Barbados provide a great example of good advice from a credible source,” Cash said.
“Dr. Delisle Worrell’s statements that in his country VAT has emerged as the anti-tourism tax should give the Christie government reason to stop, review and cancel their July 1 VAT implementation date.
“If the prime minister and his dutiful junior minister (Michael Halkitis) were listening they would have already come to the conclusion that there is an overwhelming strong public view that this administration has not thought [out] its proposed VAT program sufficiently.”
When asked for his take on Worrell’s criticism, Halkitis said several Barbadian government officials see the tax as beneficial.
“For example, I had the opportunity to speak with the Minister of Finance of Barbados Christopher Sinckler at a meeting in Trinidad last week,” Halkitis said.
“He is of the opinion that it is a suitable tax, but that we should be extra vigilant in collections and not allow arrears to build up from businesses that do not pay. Otherwise, he felt that the tax has served them well.
“Former Prime Minister of Barbados and Minister of Finance Owen Arthur is also a supporter of VAT as a tax.”
Halkitis stressed that the government has reviewed a number of studies that estimate VAT’s impact on economic growth.
He said these studies forecast greater productivity and growth if the government moves away from a system of high customs duties and toward a broad-based consumption tax such as VAT.
“Another warning we have received is to avoid a system that has too many different rates and exemptions,” Halkitis said.
“This leads to greater administration costs and could possibly lead to the mess Dr. Worrell is referring to,” he said.
Halkitis said The Bahamas can “avoid the mistakes made by earlier adopters” of VAT.
He said the government’s main concern is that delayed action in getting its fiscal house in order would have a negative impact on the economy.
During an interview with The Nassau Guardian, Worrell said his views on the tax are “very radical”.
“I think VAT is an inappropriate tax for a tourism-based economy,” he said.
“The rationale for VAT is that it is an export promoting tax, because if you are exporting physical goods (VAT is not charged on) those goods, but the producers are able to claim refunds/rebates on their inputs.
“ . . .So there’s a bias in the VAT in favor of export industries; that is if you are exporting physical things that are consumed outside, but not if you are exporting tourism, because the tourists come to you to consume.
“So VAT is an anti-tourism tax if you are a tourism producer because it makes your tourism more expensive than the people who don’t charge VAT, and that’s why all tourism countries who apply VAT have to apply it at a lower rate. A simple sales tax would be much better.”
February 24, 2014


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Analysts pessimistic on early 2011 game sales
Pacific Crest's Wilson and Wedbush's Pachter caution investors that first months of the new year could show the same sort of declines common throughout 2010; price cuts, 3DS could spark turnaround.
Yesterday, the industry-tracking NPD Group reported overall US retail game sales slipped 6 percent in 2010. Today, analysts are saying to expect more of the same to start 2011.
In a note to investors today, Pacific Crest Securities analyst Evan Wilson said the first few months of 2011 are likely to continue their slide. Wilson acknowledged that the first quarter boasts a strong release slate, but was quick to point out that the same was said of last year.
"Our call remains that the industry will continue to be weak because growth in the 360, largely from Kinect, is not enough to offset Wii, PS3, DS and PSP declines," Wilson wrote.
Wedbush analyst Michael Pachter was similarly skeptical that the first quarter of 2011 would turn things around, but expressed optimism that a number of factors could have industry software sales growing in the low double digits for the full year. Specifically, he expects a wave of console price cuts to boost sales, while the March arrival of the 3DS and a rumored launch of the PSP2 later in the year could breathe new life into the flailing handheld market, which saw hardware unit sales plummet 25 percent in 2010.
"We think that a bad end to 2010 positions the industry for a rebound, and product introductions and price cuts should be sufficient to ensure solid growth," Pachter wrote. "While this may not begin until April (after the 3DS launches), we think that savvy investors will begin to establish positions now and will be handsomely rewarded in the coming months."
The products discussed here were independently chosen by our editors. GameSpot may get a share of the revenue if you buy anything featured on our site.
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Meat free pioneer, Quorn Foods®, will be targeting record Back to School growth with a huge multi-channel marketing push, including a brand new TV ad, on screens from 23rd August.
The campaign, which is set to reach over 22m shoppers, will continue throughout September and October with Quorn Nuggets as the hero SKU. The campaign focuses on ‘taste-imonials’, in-store activation, targeted social media and experiential activity to drive sales and increase brand awareness.
“The UK’s No.1 nugget in the meat free category*1 and “Netmums recommended” product*2 is a firm favourite in shopping baskets already,” says Gill Riley, Marketing Director at Quorn Foods UK.
“We know great tasting food is key to encouraging people to try meat free and we believe we have the best-tasting meat free nuggets on the market. Our Crispy Nuggets have always been a shopper favourite, having been purchased more than 1.4m times over the past year*3. Plus, our brand new Quorn ROARSOMES product, the biggest frozen NPD launch of the year, has delivered over half a million pounds in value sales just three months after launching*4.”
The brand’s 30” TV spot will be on screens for from the end of August and uses a fun, light-hearted narrative designed to encourage people to think more about their protein choices. The new advert involves a Venus Fly Trap, a muscle man eating a Quorn Burger and, the latest addition for Back to School, a cave woman toasting Quorn Nuggets over a roaring fire.
“One of our missions at Quorn is to inspire future generations to eat healthily and establish sustainable eating habits. One of the best ways we can protect the planet is by reducing the meat in our diets, and it doesn’t have to be difficult,” adds Gill.
“Quorn’s crowd-pleasing Crispy Nuggets and ROARSOMES are a quick and easy swap into meat free, giving a great-tasting meat free option for the whole family to enjoy together, without having to compromise on their favourite meal.
“We’re confident that our latest campaign will encourage vegetarian, meat eating and flexi families alike to choose meat free more often with Quorn Nuggets, adding incremental sales to the category and driving penetration.
“We’ll be working closely with our retail partners to make the most of this sales opportunity, when Quorn’s product and brand awareness will be at an all time high,” concludes Gill.
As well as being low in saturated fat and a source of fibre and protein, Quorn Nuggets’ Carbon Footprint is at least 29% lower than its meat equivalent*5.
This latest activity forms part of Quorn’s Helping the Planet One Bite at a Time campaign, which aims to showcase tasty meat free swaps everyone can easily make using Quorn. This also drives the company’s wider ambition to become a net positive business by 2030 and, in that year, serve 8 billion meals – that’ll be the equivalent of one for every person on the planet.
First launched in January, the new ad campaign helped gain Quorn third spot for brands which have made the most positive impact in the minds of UK consumers, in March this year*6.
*1: IRI 52 w/e 19.06.21
*2 98% would recommend Quorn Crispy Nuggets to a friend or family and 93% Quorn Roarsomes
*3: Kantar weighted shoppers, 52 w/e 13.06.21
*4: Combined Retailer Epos Data to 11th July 2021
*5: Quorn Nuggets achieved ‘Reducing CO2’ certification by the Carbon Trust for the full life cycle of the product. Quorn Nuggets cradle to gate carbon footprint, is at least 29% lower than typical Chicken Nuggets carbon footprint.
*6: YouGov UK Top 5 biggest movers: March 2021