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SoftBank’s first quarterly loss in 14 years is putting a spotlight on founder Masayoshi Son’s high-risk approach of investing in cash-burning startups, as he attempts to raise a second giant investment fund. Recording an operating loss of ¥704B ($6.46B) in the third quarter, SoftBank marked down the total value of WeWork’s (WE) equity to $7.8B, a major write-off given the office-sharing company was valued at $47B before its attempt to go public backfired. While SoftBank (OTCPK:SFTBY) hasn’t calculated the effect of WeWork’s $9.5B rescue package on its earnings, the Japanese group said it suffered an $8.9B hit at its Vision Fund.
Go deeper: Christoph Liu debates whether SoftBank should keep The We Company alive.
Due to concerns over rising rents, Jersey City residents voted overwhelmingly in favor of stricter regulations on short-term rentals, rebuking Airbnb (AIRB), which spent at least $4.2M on an effort to sway voters. Officials at Airbnb fear the new proposed regulations would mean an outright ban on listings in New Jersey and that it could mean an end to the company altogether as it prepares to go public. In related news, Peloton (NASDAQ:PTON) shares fell 7.6% on Tuesday amid profit concerns at the latest loss-making company to go public.
Go deeper: Hendrick Fulton is waiting for sub-$20 PTON shares before investing.
In a deal that would unite some old-line tech names, Xerox (NYSE:XRX) is considering a bold takeover of HP (NYSE:HPQ), WSJ reports. A cash-and-stock offer would follow closely on news that Xerox was selling its stake in a 57-year-old joint venture with Fujifilm (OTCPK:FUJIY) and an announcement from CEO John Visentin that the company would get aggressive. At a market cap of about $27B, HP is more than three times Xerox’s size, but the latter reportedly has an informal funding commitment from a major bank. HPQ +9.8% premarket.
Go deeper: Mark Ashton discusses HP’s recent transformation.
Wall Street almost netted another hat trick on Tuesday, with the Dow and Nasdaq scoring new records, though the S&P 500 fell back slightly. Futures are now holding steady, consolidating gains made over the last three sessions due to lingering concerns over the outcome of U.S.-China trade talks. Traders are also preparing for the latest round of earnings, including CVS (NYSE:CVS) and Qualcomm (NASDAQ:QCOM), as FactSet data indicates that 75% of S&P 500 companies which reported thus far have topped analyst expectations.
Economists are hailing today’s rise in German factory orders, and while the 1.3% monthly increase was “solid,” Oliver Rakau of Oxford Economics said it may not prevent the economy falling into recession (we’ll get those figures on Nov. 14). Orders from other countries in the 28-nation eurozone dropped 1.8% and manufacturing in the region on a whole is the weakest it’s been for seven years. Given two consecutive monthly declines in September and October, the latest results from Germany are helping the euro this morning, up slightly to $1.1082.
Walgreens Boots Alliance (NASDAQ:WBA) is up another 1.6% premarket, after rising 2.6% on Tuesday, as reports suggested the U.S. drug store chain is exploring private equity interest. If a deal was struck, it would likely be one of the largest leveraged buyouts in history based off Walgreens’ $50B+ market cap. Several private equity firms would likely be involved, though many have long lost their appetite for teaming together on so-called club deals since the financial crisis.
Go deeper: WBA’s dividend yield exceeds the 10-Year U.S. Treasury yield, writes Pat Stout.
Although the Mouse House has promised not to show ads on Disney+, the streaming service will carry a one-time promo for cable channel Starz (NYSE:LGF.A). It will help the company get rights to show films like Star Wars: The Force Awakens, which had been licensed out to Starz before announcing the Disney+ plans in 2017. Launching next week, Disney+ will cost $6.99 per month, with the option of bundling the service, ESPN+ and ad-supported Hulu for $12.99/month.
Go deeper: Listen to Daniel Shvartsman’s podcast on the ‘Streaming Video Tide.’
Gearing up for the open of its $2B Shanghai plant, its first overseas factory, Tesla (NASDAQ:TSLA) is moving away from the approach CEO Elon Musk announced in March, when he said the EV maker would cut costs and shut many of its retail stores worldwide. According to documents seen by Reuters, the company plans to double its service centers to 63 from 29, boost fast charging stations by 39% to 362 and convert some of its showrooms into “Tesla Centers.” It appears to be a different strategy for Tesla, with its China unit also offering racing events and parties despite Musk’s open disdain for marketing.
Uber’s (NYSE:UBER) self-driving test vehicle that struck and killed an Arizona woman in 2018 had software flaws, according to the National Transportation Safety Board, and lacked programming to either recognize or respond to the presence of jaywalkers on the road. In fact, Uber’s autonomous test vehicles had been involved in 37 crashes in the 18 months before the fatal March 2018 incident. Following the crash, Arizona suspended Uber’s ability to test self-driving cars on the state’s public roads, though the company later resumed tests in Pennsylvania.


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Firing up a new career: Hines started brick oven pizza business 5 years ago at age 57
By Tim Nail | Living 50 Plus
Susan Hines, 62, of Hartselle, packed her suitcase for an excursion to Italy at the end of March. She wasn’t just getting ready for a vacation. For her, this trip also aimed to further her knowledge of Italian and Mediterranean cuisine.
“I’m going to take a pasta cooking class over there,” Hines said. “We’re doing a grand tour … plus an excursion to Greece with an interactive Greek cooking class.”
Hines, former president of the Hartselle Chamber of Commerce for 14 years, may now be better known for her on-the-go business Brix & Embers, which has been serving up brick oven pizzas within the confines of a food truck for the past five years.
She said she has always enjoyed experimenting in the kitchen and trying her hands at dishes from around the world, like when she learned to cook German foods while she lived in Germany with her husband stationed there. But Hines didn’t imagine herself operating a pizza business, let alone it being the only wood-fired pizza truck in the Tennessee Valley.
“I like cooking, I like baking and I like making candies,” she said. “I never knew I was a pyromaniac, but I like building the fire in the brick oven and keeping it hot.”
The concept first materialized when Hines helped organize Hartselle’s annual Depot Days celebration and was asked by a friend about bringing a brick oven-style pizzeria back to Morgan County after a previous such business shuttered. With no one else stepping up to fill the void, Hines took it upon herself to learn the craft at the age of 57 after a career in banking and at the chamber.
“I’ve always loved being around people, and if you can feed them with good food that’s quality, they’re going to be happy people,” she said.
She sought the guidance of Stan Stinson and Tina Ford, co-owners of Earth & Stone Wood Fired Pizza in Huntsville, to learn more about pizza baking with brick ovens, and she hasn’t looked back since.
“They had a wood-fired pizza trailer, and they actually knew a guy who was getting rid of one,” Hines said. “I talked with him and was going to buy it, and then they bought it before I did. But they only needed it because they tore down theirs and had a wedding come up … (so) I picked it up from them later.”
Five years on, she’s become one with the oven, producing a variety of pies with toppings ranging from feta cheese to honey to mustard. Sometimes, she’s even had her family help with creating new offerings.
“We have a pizza called the ‘El Fuego’ that’s got Tajín (sauce), Salsa Valentina and fiery Cheetos on it,” Hines said. “The kids added dill pickles to pizza, and it’s really good. I would’ve never thought.”
Other menu items are seasonal, like strawberry pizza in the spring or apple dumpling pizza in the winter.
Hines, maiden name Shelton, said her family has a legacy of entrepreneurship in the area she feels she’s carrying on in running Brix & Embers. Her grandfather, Homer Shelton, owned a Decatur furniture store, and her father, Gene Shelton, was a four-term Morgan County coroner and owner of Shelton Funeral Home in Decatur.
“My grandfather’s sign at his place was that ‘the customer is king,’” Hines said. “Being raised knowing that if your customers aren’t happy, I learned you don’t get a paycheck. If they’re not going to buy with me, they won’t be back.”
With the enterprising spirit she inherited, getting repeat business hasn’t been a problem. Hines said she has plenty of regular customers whose names and preferred pizzas she knows well, and when the pandemic made it difficult for some businesses to operate, hers was a continued mainstay in north Alabama.
She even created a dining area for customers to give them opportunities to eat and socialize outdoors when indoor dining was a concern.
“I had built a pole barn out in front of my property and built a commercial kitchen out there because every food truck has to have one,” Hines said. “When COVID hit, I wasn’t going to not work — I was going to do something. So, we bought picnic tables and set up string lights and created a place where people could come and eat and be distanced, and the community embraced it.”
Before the Hartselle Chamber of Commerce, Hines served in a banking job for Colonial Bank in Hartselle. This combined with her role in leading the chamber has helped her remain financially sound and business-minded, she said, allowing her to network as well as stay competitive as a restaurant.
“A lot of times, I’ll know who to call or know who to call to find out who to call, and having contacts is important,” Hines said. “And when I had a friend and his wife go to Italy, he told me about how they use an Italian pepper oil. He said (he’d) love to get that over here, … so the next time he came to the truck I had made Italian pepper oil.”
As this year’s series of Food Truck Fridays returns to Decatur in April, Hines will be there firing up the oven most weeks. She said she isn’t remotely considering retirement.
“The kids don’t want the business, so when I quit, I’m done,” she said, laughing. “I’ve thought I may need a brick-and-mortar (store) at some point so I don’t have to get out on the road as much and my daughters can drive the truck. For now, my husband’s retired so he takes care of the dogs and I drive the truck, so it works out.”
Brix & Embers is present at most Food Truck Fridays by Decatur’s Old State Bank, but it’s also available to book for events. Hines said the best way to get in contact is via her Facebook page at www.facebook.com/brixandembers, but she may also be reached at email@example.com or by phone at 256-303-8258.

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Voters approve sales tax extension
Bartlesville voters on Tuesday approved a five-year extension of a 1/4-cent sales tax to fund local economic development.
With all 15 precincts reporting, the measure had 78.1% of the 1,606 votes cast.
First implemented in 1986, the tax was set to expire July 1.
Bartlesville Development Authority Chair Diana Adams said the results are “heartening.”
“I want to very much thank the community for their support and say we’re very much looking forward to the next five years,” Adams said. “We want to assure people that the Bartlesville Development Authority will work diligently to continue to find ways to encourage business development, jobs, retail and tourism programs to enhance our community as a place where people want to live, work, shop, dine and enjoy recreation.”
At a Bartlesville Chamber of Commerce event March 30, BDA President David Wood said future plans for the sales tax include attracting developers to Bartlesville to increase housing availability.
“We know that economic benefits of local job creation only occur if employees live here, and we can’t grow the population if we don’t have available homes. We’re looking at opportunities to stimulate residential construction without taking on undue risk,” Wood said.
In an emailed statement Tuesday night, Bartlesville Mayor Dale Copeland said: “From our past successes, we can now springboard our efforts to continue development of primary jobs and enhanced retail offerings. Thank you, Bartlesville, for your vision and support of this important tool for our ongoing future success.”
At the time of the last tax extension, Bartlesville unemployment was low, but so was sales tax revenue as legacy store brands closed local locations and young new hires increasingly chose to live in Owasso or Tulsa for access to more retail and recreational activities.
Wood said BDA was concerned that decreasing ability to recruit young talent to Bartlesville would lead primary industry employers to consider leaving.
In response, BDA first focused on retail recruitment, using revenue from the economic development sales tax to construct the Silver Lake Village shopping center, redevelop the former Kmart building into the Shoppes at Turkey Creek, and redevelop the Eastland Shopping Center.
These investments allowed BDA to recruit Chick-fil-A, Bricktown Brewery, Ollie’s and Burke’s outlet, among other retailers.
Beyond retail recruitment, investment of funds from the sales tax has attracted hundreds of jobs with companies such as ABB, Springs Global, Husky Portable Containment, Phillips Precision Machining and Apple Studios, among others.
“Since 1986, these funds made scores of projects possible, including Bartlesville’s Industrial Park, the Walmart Distribution Center, the Hilton Garden Inn and many, many others,” Wood said.
“The Bartlesville Development Authority is grateful for the community’s trust and investment over the decades. With continued support, we’ll shape Bartlesville’s future together.”
Other Tuesday election results
In Copan, Janet Dickey defeated Donna Stephens with 61% of the vote in the race for Board of Trustees Office 2, while Cody Hatheway topped Kay Ko Holmes for the Office 4 seat with 79% of the ballots cast.
Voters in the Copan Public Schools district selected Cody Smith (54%) over Shane Cameron for the Office No. 1 seat, and Tony Holland (72%) defeated Melissa Watson for an unexpired term in Office 5.
In the race for Ochelata town clerk, Diana Dunlap defeated Michele Rader with 67% of the vote.
All voting results are unofficial until certified.


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HEAVYWEIGHT Samsung Electronics has unveiled its thinnest and lightest tablet yet - the Galaxy Tab S, which has Apple's svelte offerings in its crosshairs.
The Tab S, launched at New York City's Madison Square Garden yesterday morning (Singapore time), almost disappears...


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LGES believed because its clientele was not as China dense, it had better growth opportunities versus CATL
LG Energy Solutions (LGES) expects that it will overtake Chinese CATL as the world’s biggest supplier of batteries. Kaon Young-Soo, the CEO of LGES revealed that it will become the global number in 2022 thanks to its more diversified business geographically, a high order of backlog which is worth $217 billion, and overall superior intellectual properties.
“We overwhelm the competitor in IPs, and we have more diverse clients in the U.S. and Europe, and production bases there to supply our products to those clients, which CATL doesn’t have. I believe that the backdrop to CATL’s growth is that Chinese automakers have preferred locally produced batteries or the policy to use them. Since we have more orders, we predict that we will be higher than CATL in terms of market share in the future,” said Kwon Young-soo, LGSE CEO.
LGES is also expected to reveal its share price and the company is expected to have a market cap of around $58.5 billion after its IPO is done. More than 80 percent of LGES will be owned by LG Chem. It is also expected that it will raise another $10.6 billion out of which $7.4 billion will be spent on new manufacturing capacity. It is building new facilities in Michigan in the US, and also one in the Wroclaw plant in Poland. There may also be a new gigafactory that it is planning for the European market.
It revealed that its LFP batteries are in development – and these will be developed just not for electric vehicles but also for energy storage systems. LFP chemistry is cheaper and safer but perhaps not as efficient. It mixes nickel, cobalt, manganese, and aluminum.
“We plan to actively use this material. Since we’ve developed it before, we will apply it to the ESS (energy storage system) and then to electric vehicles in the future,” revealed the CEO whilst also stating that the company had more than double-digit profit margins and upwards of 25 percent year on year growth.


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The use of digital twins – the digital reproduction of a machine, production line or supply chain operation – has been highly anticipated within automotive logistics for years, particularly to
Apple and Tesla are dealing with key headwinds in China which is contributing to investor jitters all around the two U.S. engineering giants.
Tesla shares tanked 12% on Tuesday following
Pune, India, June 06, 2022 (GLOBE NEWSWIRE) —
The global home improvement market size is anticipated to increase exponentially during the forecast period, as homeowners are focused on adding style,
Health experts said they are seeing COVID-19 variants that are easy to spread even more than in the early days of the delta variant. It’s a reminder that COVID-19 is Read more


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Samsung Electronics overtook Apple to recapture the title of world's top smartphone maker by volume in the first quarter of 2015, research firm Strategy Analytics said on Wednesday.
It said Samsung shipped 83.2 million smartph
Phablets - smartphones with a screen size of 5.5 inches and larger - are surging in popularity in the Middle East and Africa as customers increasing look for a mobile device that can fulfil the combine role of smartphone and a tablet, acco
Samsung Electronics has pulled out all the stops on its new Galaxy smartphones, but their modest prices compared to the latest iPhones throw an uneasy spotlight on the long-term cost of fighting Apple's premium branding.
BlackBerry said on Tuesday it is launching a new certificate service that will help bring the security level it offers on smartphones to a slew of devices from cars to smart meters.
Certicom, a subsidiary of BlackBerry and an indu
Sony Corp on Monday unveiled a new high-end Xperia handset featuring an aluminium frame and a 5.2-inch screen, showing it is still in the smartphone race even as it scales down its mobile operations.
Sony said the Xperia Z4 would
Microsoft Corp on Friday unveiled a long-awaited suite of touch-friendly Office apps that allow Windows phone users to work on Word, PowerPoint and Excel documents on their phones with touch commands and to transfer them easily between devices.
Huawei Consumer Business Group has unveiled the Huawei P8 smartphone - a perfect blend of technology, sleek styling, usability and low light camera features - at the legendary Old Billingsgate, London’s renowned arts and fashion venue.
Saudi Arabia-based mobile telecommunications device retailer Axiom has launched the limited edition Red BlackBerry Passport, the latest addition to the all-time classic family of smartphones.
Combining style with BlackBerry’
Acer has unveiled the Liquid M220 smartphone, first ever Liquid smartphone to run on the Windows Phone 8.1 operating system.
ST Liew, smartphone business group president at Acer, said: “We are proudly introducing our first W
Acer showcased its Liquid Jade Z smartphone, bringing premium features and award-winning Jade design to the mainstream, at the Mobile World Congress 2015 held recently in Barcelona, Spain.
The five-inch LTE smartphone features hig


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The mixed performance of US retailers has signalled a shift in consumer spending patterns, as sales still fail to sparkle during the sub-prime credit crunch.
Wal-Mart said lower than expected redemptions of gift cards during January have contributed to lacklustre sales during the month. Like-for-like sales remained flat, with a 0.5 per cent rise against a forecast of 2 per cent increase.
The retailer said customers are holding on to their gift cards longer and using them more often for food and consumables rather than discretionary purchases. Wal-Mart announced a range of price cuts in late January to stimulate spending.
Rival discounter Target also reported strong sales of food and healthcare products, but posted a 1.1 per cent decline in comparable sales in January. Clothing sales were worst hit, continuing the trend first reported in September.
Meanwhile, mid-market department store group JC Penney said it did better than expected in January and posted a positive earnings forecast, but rival Kohl’s reported a like-for-like slump of 8.3 per cent as it cut prices to clear stock. Kohl’s reported earnings at the low end of expectations.
Like-for-like sales at Macy’s, the United State’s largest department store group, fell 7.1 per cent in the month, leading to a cut in earnings forecast for the quarter. It announced that it was slashing 2,300 administrative jobs.
Saks, the luxury department store group, reported a 4 per cent increase in sales, but said that its wealthier customers had switched their focus to promotion-led purchases. High-end rival Nordstrom reported a 6.6 per cent fall in like-for-likes, while luxury retailer Neiman Marcus posted comparable sales up 3.3 per cent.
Source: Retail Week


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Forgetto smog-inhaling Beijing residents. Entrepreneurs looking to profit on bad urban air quality in China should check out this bike design that produces fresh air to breath as you ride. Matt Hope, who is living in Beijing, came up with the idea for the "Breathing Bike" and explains how the concept works.
As Hope explains, the major problem holding back the design is safety. Not being able to ride in the rain for fear of electrocution is a major drawback (at least there's a built-in helmet!). But it's the first step toward a really fascinating product idea. If biking has declined, but a product like this could turn that around., it seems like a product that helps people get around safely (if the design can be tweaked to avoid electrocution) would be popular. In Beijing
I wonder what other innovations we'll see come out of Beijing's air pollution problem.
This post was originally published on Smartplanet.com


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KTM revealed their latest innovations on the first day of the EICMA motorcycle show in Milan, Italy. The company unveiled three brand new models – the KTM 1290 SUPER DUKE R, the KTM 890 DUKE R, and the KTM 390 ADVENTURE – as well as displaying their full gamut of motorcycles for 2020 across a busy exhibition stand. Pride of place was reserved for KTM’s outstanding achievements in the world of racing with the KTM 450 RALLY, the KTM 250 SX-F, the KTM 300 EXC TPI and the KTM RC16 (MotoGP™) prominent.
The KTM 1290 SUPER DUKE R has been ‘re-Beasted’. KTM’s flagship bike has won rave reviews by catering for the preferences and skills of a vast range of motorcyclists and has undergone its most radical re-invention yet for 2020. A completely new chassis, styling, and electronics mean the KTM 1290 SUPER DUKE R has trimmed weight across the board, while a reworked LC8 engine has unleashed even more power.
KTM have beefed up their potency in the midweight segment with the new KTM 890 DUKE R. Foregoing some of the excellent daily capabilities of its younger brother – the KTM 790 DUKE – the KTM 890 DUKE R is a sportier and edgier naked bike for hard riding. More power and more torque come from the new engine, which has been teamed with ‘racier’ ergonomics, better brakes, and fully adjustable WP APEX suspension. The KTM 890 DUKE R is ideal for the motorcyclist wanting a more extreme experience or searching for bigger thrills and ‘flickability’ compared to a larger capacity model.
The new KTM 390 ADVENTURE has harnessed the attributes and DNA from the popular and highly rated KTM 790 ADVENTURE as well as the development information gleaned from nearly two decades of Dakar Rally success. A breezy, agile, and ideal entry model for riders keen to discover the ‘adventure’ sensation, this motorcycle offers added versatility for touring and light offroading. Using elements of the KTM 390 DUKE as a base, the KTM 390 ADVENTURE offers proximity to the feeling and performance found at the root of the all-conquering KTM 450 RALLY but with crucial A2 license compatibility and current Euro emissions standards as part of the package.
KTM welcomes a ninth consecutive year of growth and another sales record in 2019 while continuing to pursue an even greater global market share and further consolidation as Europe’s leading manufacturer. KTM will also be seeking to build on the strengths of their dealer network and international strategic partnerships.
After a grand opening this summer, the work, innovation, and history of the brand is now fabulously displayed in a visual and interactive manner at KTM’s new Motohall, located in Mattighofen. Mr. Trunkenpolz, together with KTM Motorsport Director Pit Beirer, also took time to reference the impact and importance of MotoGP™ and the firm’s presence at the elite level of racing as the conclusion of a third season in Grand Prix draws near.
There was considerable interest in a number of other motorcycles, especially the new KTM SX-E 5; an adjustable and versatile junior electric bike that has the potential to introduce a vast fresh generation to the buzz of riding.
In what is now customary fashion, KTM celebrated their competitive triumphs for the year. The Red Bull KTM Factory Racing Team earned their 18th Dakar success as well as the FIM Cross Country Rallies World Championship with two different riders. The KTM 450 SX-F was the basis for Cooper Webb’s rookie AMA 450SX Championship win and victories for Tony Cairoli, Jeffrey Herlings, and Glenn Coldenhoff in MXGP. Spanish sensation Jorge Prado used the KTM 250 SX-F to accumulate a record amount of Grand Prix holeshots and won his second consecutive MX2 title. KTM recently launched the KTM 450 SX-F CAIROLI and KTM 250 SX-F PRADO limited editions in recognition of their feats.
Back on the slicks, the Red Bull KTM Factory Racing made fantastic progress in MotoGP™ with four bikes on the premier class grid, two front row starts, and a slew of top ten results from the 19 rounds of a season that is still delivering thrills. Moto2™ and Moto3™ victories were acknowledged and celebrated.
KTM announced that the fourth instalment of the unique European KTM ADVENTURE RALLY will take place in Greece during June 2020. A KTM ADVENTURE RALLY is the company’s scheme for Adventure riders who want to fully embrace the KTM READY TO RACE spirit and share offroad experiences in incredible surroundings to form unforgettable memories with likeminded motorcyclists – including KTM Ambassadors, factory riders, and staff.
KTM look to 2020 with great optimism. The surge of almost 10 years of expansion shows no signs of slowing as the company evolves their R&D activities and output for both STREET and OFFROAD markets, fueled by their peerless racing endeavors. They will look to further consolidate their position as the continent’s #1 manufacturer while also exploring other areas of global growth.


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Return of the business card helps London-based Moo deliver record earnings
The founder and CEO of Camden-based Moo hailed the staying power of the humble business card today after the printing firm posted record earnings.The company, which now makes most of its turnover in the US, said pre-tax earnings for 2021 topped $10 million (£8.4 million), while sales climbed 12.1% to $93.2 million.
North America accounted for 79% of revenues in 2021, an increase of 6 percentage points year-on-year,To help drive further growth in the US, the company opened a new North America manufacturing site in East Providence, Rhode Island.
Revenues for 2022 were expected to jump 26% to $118 million — still short of the $140 million the firm achieved prior to the pandemic in 2019.
Moo founder and CEO Richard Moross said that to his amazement, business cards were still the company’s most popular product despite predictions they would fall out of favour as a result of Covid and fewer face-to-face meetings.
He said: “The story of their demise is much overhyped.”
“People need to make high- quality interactions in a challenging macroeconomic environment. We’re not seeing any softening in demand as those are more valuable than ever, people really want those meetings to count.”
The business, which was founded in 2006, has recently expanded its product range to include branded water bottles, and won a much-coveted Red Dot design award for its tainless-steel vacuum flask, developed as an alternative to single-use plastic bottles within the workplace.
“Most branded corporate merchandise is traditionally low quality and disposable and we want to change that,” said Moross.


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Anthony Scaramucci’s SkyBridge Capital has over $700 million in crypto and plans to further expand its crypto offerings.
What Happened: In an interview with CNBC at the SALT conference in New York, Scaramucci said SkyBridge is starting an Algorand ALGO/USD fund.
The fund has already raised $100 million from investors and it will be capped at $250 million, the SkyBridge CEO said.
“Crypto is here to stay,” Scaramucci said. “If the regulators are going to regulate it, they’ve got to do it very very quickly because before long there will be 200 million users in the United States.”
Scaramucci drew parallels between the regulatory approach to crypto today to when Uber Technologies Inc UBER first came to market.
“This is a lot like Uber. The regulators wanted to knock Uber out of business, but the people wanted Uber and the people won.”
Earlier this week, SkyBridge filed for a “Crypto Industry and Digital Economy ETF” with the SEC.
According to the filing, the new ETF will invest at least 80% of its net assets in common stocks of crypto industry companies and digital economy companies.
Price Action: At the time of writing, ALGO was trading at a price of $2.15 after rising by 5.96% over the last 24 hours.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Nigeria’s innovative telecoms company, 9mobile is well and truly on the rebound as latest figures by the Nigerian Communications Commission (NCC) show that the operator is regaining its market share.
April figures released in June showed that the number of voice subscribers on the network has risen to 12,568,088 from 12,123,185, indicating that the telco has added 444,903 new subscribers.
Previously holding 6.1 per cent in March and 6.5 per cent in February, 9mobile now has 6.6 per cent, to confirm that the repositioning of the brand by the company’s Board and Management has started yielding positive results.
This is coming as the telco maintained its lead in incoming subscribers’ porting for the fifth straight month, beginning December 2019 when it received 8,613 subscribers from the other operators.
Incoming (Inward) Porting means the number of numbers ported from another service provider’s network into a service provider’s own network.
9mobile received 5,516 customers from other operators in January 2020, 5,371 in February, 8,225 in March and 3,829 in April to underscore its determination to reclaim its pride of place, especially in the youth market and mobile money space amongst other critical territories in the telecoms consumer market.
9mobile’s impressive repositioning efforts got a boost from the Africa Finance Corporation (AFC) which approved a $230 million (two hundred and thirty million US Dollars) loan facility to help it attain its long-term growth plans in 2019.
It embarked on the expansion of its 4G LTE deployment to more Nigerian cities earlier in February as part of efforts to continue offering superior quality services to its customers. Some of the benefits of the expanded 4G LTE include a low latency rate for high-speed connectivity and planned redundancy to minimize downtime impact.
The telecoms company also just appointed a substantive CEO, the vastly experienced telecoms expert, Alan Sinfield, who has worked and distinguished himself in emerging markets in the Middle East, Asia, Africa and Europe.
Sinfield has promised to use his experience and unique value propositions to lead the company in the next exciting phase of its journey. He said he would build on the existing strong foundation to create value that will transform the Nigerian telecoms sector.
Jumia Offers Exciting Deals to Customers With Naija Shopping Festival Campaign
Nigeria’s leading e-tailer Jumia, is offering a thrilling shopping experience to Nigerian customers with the Naija Shopping Festival campaign, running from the 12th of July to 29th of August.
The festival offers customers a unique opportunity of a good bargain on every product of their choice at the best market prices.
The campaign period (12th of July to 29th of August) is a window of opportunity for parents to leverage price discounts for holiday play items and back to school materials for their kids. It is also an ample opportunity for those working on their beach body for the holiday to get sports gear at the best prices. Customers are expected to download the Jumia App to fully exploit the benefits of the shopping festival.
Head of Brands at Jumia Nigeria, Moyosore Oduwobi while commenting on offers available during the festival period said, Jumia marketplace offers simplicity and affordability to the Nigerian customers, and is offering them more on a wider range of products during the festival.
“Naija Shopping Festival is every shopper’s dream. Every product you can think of that you’ll need this season, it’s available on Jumia. It’s a good opportunity for customers to delve into the simplicity of the experience and the affordability we offer. It’s our identity to give customers unbeatable prices from the comfort of their homes, and this and more is what they will be getting during this festival,” Oduwobi said.
Some of the partners for the Festival include Pernod Ricard, Edifier, Adidas, Nivea, Xiaomi and Fanswedy.
The campaign offers customers amazing shopping experiences and benefits such as Daily Flash sales, free shipping on selected brands, N100 clearance sales, live giveaways and surprises packages for shoppers on the weekends.
Customer Appreciates Service Delivery Of Nigeria’s Ecommerce Market Leader
E-commerce is still in its infancy in Nigeria and Africa in general. Despite this, many would agree that a lot of progress has been made in the industry.
What we have today is a big leap to what obtained twelve years ago. More consumers are onboarding the e-commerce train. The hardest skeptics are beginning to have a taste of what online shopping entails.
Urban centers are gradually becoming a beehive of e-commerce activities, as the majority of small businesses now showcase their wares online. Several logistics brands are springing up to meet the delivery demands of sellers and customers.
Hardly would you ply major roads in states like Lagos, Rivers and Abuja, without coming across a delivery van or motorcycle. Their presence is an indication of e-commerce momentum in the country.
More important is the improvement on service delivery by the industry players. The early days of online shopping was fraught with complaints. Late delivery of orders, wrong items and payment itches were prevalent at the time. Though these issues are still being experienced at intervals, it is fair to say that online platforms have put in effort to reduce such occurrences.
And in cases where this happens, measures are in place for a speedy refund process. These efforts are also being appreciated by customers. “I have been using Jumia for like six years now and my experience with Jumia has been nice.
Even when I returned my order, I got my refund back less than the time they gave me. Even on their JumiaPay wallet, which you have to pay online before you get your order, I have had a very good experience with them,” said Ogechi Celestine, a Civil Servant resident in Rivers State.
Another interesting way e-commerce brands are improving service delivery and customer experience is pick up stations. With a station close by, a customer can walk in and pick his item. It takes e-commerce closer to rural residents and further eases the deal for urban dwellers.
“Today is my first time coming to their pickup station to pick my order. I give kudos to Jumia and the team. They should keep it up,” Celestine added. The initiative is not only taking the service closer to customers, but also having ripple impact on small businesses.
Though the e-commerce industry still has a lot to improve on, the work being put in by the major industry players gives hope of a good future for e-commerce services in Nigeria.
HOW CUSTOMERS’ INCREASED TRUST IN FIRSTBANK’S *894# USSD BANKING CAN BOOST THE FINANCIAL INCLUSION DRIVE
The path to financial inclusion holds different marketplace barriers and opportunities in different countries, but the push continues because of proof that an increase in economic activities among the financially vulnerable can reawaken a comatose economy.
For Nigeria, the last three years have seen significant growth of the financial inclusion rate from 56.8% in 2016 to 63.2% in 2018. FirstBank’s *894# USSD banking service is playing a key role in it.
FirstBank’s *894# USSD banking initiative is already averaging about 99 million transactions monthly, with a naira worth of (N’m) 370,543 on these transactions. This figure includes the undergraduate doing a mobile airtime recharge; the trader receiving a mobile payment from a customer; the IT person hurriedly buying a data bundle to keep business afloat; the anxious father paying his daughter’s hospital bills for treatment to commence, and the busy worker in Lagos transferring money to his parents in the village since he cannot get to a banking hall.
This is just a rough sampling of the financial transactions that amounted to over N3.6 trillion in transaction value on the *894# USSD banking service in 2020. There is practically no financial emergency that the USSD service does not come in.
The problems that the *894# USSD service from First Bank of Nigeria Limited is solving is the only justification for the rapid traction it has gained since it was introduced in 2015. It is easy to see Nigerians trust and confidence in the USSD system, with the Bank rapidly growing from 9.5 million customers on the USSD feature to 12.26 million customers within the last year. Over 1.02 million of the figure, are customers who registered in the first 6 months of 2021.
The first and perhaps the most attractive feature of USSD banking has got to be that it can be done from any kind of phone and without any form of internet connectivity. Although smartphones are getting more common, there is still a high poverty rate and many financially vulnerable people who cannot access internet banking. The internet penetration in Nigeria is still below the ideal, so users have to deal with poor internet connections in some areas.
That is why this kind of banking service that can be accessed without internet connectivity is ideal for the financial inclusion drive. The *894# USSD feature can be used across the four major GSM network operators in the country, meaning there is no added demand on the users.
Getting started on the service is as easy as dialling *894*0#, and creating a pin. With that done, you can do airtime and data purchase for yourself and other parties, transfer funds to other accounts, make a BVN enquiry, check your account balance and get a mini statement.
For non-customers, this feature allows you to open a bank account in a couple of minutes without having to visit the banking hall. You can open a bank account, receive your account number immediately and start transactions on it right away. The claims of “instant banking, anytime, anywhere” can’t get more real than this.
There is even an added security step, requesting a second-factor authentication (2FA) for transfers above N20,000 as a way to secure customers from being ripped off their funds. There is a cumulative maximum daily transfer limit of N100,000 to both FirstBank and other banks accounts.
How does FirstBank USSD improve the lives of Nigerians?
For one, the data being generated through this service is sufficient to help the bank understand its current and prospective customers and develop products that suit them.
Traders and small businesses can also get a Merchant ID which customers can use to make payments for products and services. This of course is better than having to send one’s account details to countless customers, even without knowing whether or not they are ready to make their purchase.
To ensure customers can meet emergency needs before month-end, the Bank’s FirstAdvance service is at their fingertips. FirstAdvance is a digital lending solution designed to offer convenient and easy access to cash for payroll customers awaiting payment of their salaries.
Offered through the Bank’s USSD Banking service and leading banking app product, FirstMobile, customers are exposed to a range of loan offerings which put them at an edge in meeting immediate financial needs. To initiate the service through the USSD banking service, the customer is to dial – USSD CODE-*894*11# or *894#. The service is open to customers with a salary account domiciled with the Bank and have received salaries for the last 6 months at the least.
There are much more about FirstBank’s *894# USSD banking that puts customers at a distinct advantage in carrying out their daily personal, financial and business activities; meeting unforeseen emergencies, and carrying out a wide range of transactions – with so much fun and convenience – irrespective of where they are in the country.
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Bringing you essential news on restaurants, shopping, arts and other cultural happenings in Seattle. Subscribe to our newsletters, The Must List or Restaurant Insider, for weekly updates.
Designer Kristie Metcalf Heads to Vancouver Fashion Week
Every year, a great designer heads up to Vancouver for that city’s fashion week (VFW). Last year it was Carole McClellan and this year, it’s Kristie Metcalf, who, you might recall, shot to prominence with her appearance on Bravo’s Styled to Rock, Rihanna’s fashion reality show.
Metcalf, whose line is called Calotype, got in touch recently to share the news of her VFW show—her first ever show outside of Seattle, not counting the runway on TV. She'll be showing a fall/winter capsule collection at VFW, which is in its twelfth year and covers seven full days of runway shows by more than 50 international designers. It’s a huge deal and a huge opportunity for exposure, with nearly 20,000 guests including buyers, industry influencers and media.
For the full VFW schedule click here, and if you go, be sure to report back.


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WASHINGTON – The United States and Panama exchanged formal notices, fulfilling the last requirement for the free trade agreement to take effect at the end of this month, the countries announced Monday.
“Under this comprehensive agreement, Panama will eliminate tariffs and other barriers to U.S. exports, which will promote economic growth, and expand trade between our two countries,” U.S. Trade Representative Ron Kirk said.
The announcement came just two weeks after Panamanian President Ricardo Martinelli signed legislation that protects intellectual property and patents and creates conflict-resolution mechanisms. These were requirements for a free trade agreement with the United States.
The U.S. Congress approved the accord back in October 2011, along with U.S. agreements with Colombia and South Korea.
Panama is attractive to the United States because of its strategic location and the ongoing expansion of its canal, through which two-thirds of U.S. trade passes.
Sales of U.S. goods to Panama in 2010 totaled more than $8.2 billion. Under the new accord, U.S. officials say this figure could rise to more than $20 billion.


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Today the Chinese court has stated Apple, Inc. has agreed to pay a local Chinese company $60 Million dollars to settle their infamous iPad name dispute.
BREAKING: Chinese court says Apple to pay local company $60 million to settle iPad name dispute.
— The Associated Press (@AP) July 2, 2012
In 2006 Apple purchased the Taiwanese rights to the name “iPad” from the company Proview Electronics. In China however, the trademarked name was still owned by Proview Technologies, a Shenzhen based subsidiary of Proview Electronics. Since 2011, Proview Technologies has battled Apple in the Xicheng district court and in 2012 the Santa Clara Superior Court. Both cases are still ongoing.
Apple has legally bought the global rights for the “IPAD” name through a UK proxy company called “IP Application Devlopment” in 2006 for $55,000. Proview Technologies soon after launched their lawsuits against Apple after finding out the Cupertino based computer company purchased it through a proxy and not them directly.
On June 1st 2012, the Guangdong High People’s court worked with both of these companies and settled upon $60 million dollars through mediation outside of the courtroom. Proview Technologies has claimed that since the deal was made in Taiwan, the Chinese rights were not sold at the same time.
Proview Technologies is considering this a step closer to winning the US trademark battle with Apple. In May of this year, Apple offered Proview a $16 million dollar offer which Proview refused. Proview is continuing their lawsuit in Santa Clara for $1.5 billion dollars while allging fraud and unfair competition. The case was soon after thrown out by a judge.
Proview is currently trying to ban all shipments of Apple’s Ipad into and out of China while the legal battles are still ongoing. After this win in the Guangdong court, time will tell if Proview continues to seek a ban of iPad products or not.


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Welcome to the Retail Industry Awards
We have made the decision to reschedule the Retail Industry Awards 2020 until January 2021 amid social distancing regulations in light of the Covid-19 pandemic. You can read the full update from our managing editor and commercial director here.
For the safety and enjoyment of all our supporters, the awards ceremony – which will celebrate the achievements of UK grocery retailers in the year 2019 to 2020 – will now take place on 26 January 2021 at The Brewery in the City of London.
We are delighted to announce the 2020 Retail Industry Awards Shortlist. Click here to see the full shortlist.
With thanks to our supporters and partners


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We’re about to enter the final quarter of 2017, and the relevance and importance of social media are at an all-time high. It has become an indispensable part of our digital communications strategies and delivers measurable results in branding, leads and sales.
The world of social media may be dynamic and constantly evolving, but one thing always remains constant: the steady pattern of growth. In fact, social media users now number 2.8 billion globally. And businesses are clamoring to get a piece of the action.
Social media analytics: staggering predictions
The social media sphere has become insanely crowded and competitive. Businesses need to leverage the power of social reviews and track their results so that they can devise more effective strategies, which makes social media analytics all the more important.
Without any feedback or data from the social media channels to fall back upon, businesses would remain in the dark on what’s working and what’s not. Thus, it’s not surprising that a recent study published by Markets and Markets predicts how the size of the social media analytics market space is expected to increase from $2.23 billion in 2016 to $9.54 billion within the next five years.
That’s a 28.6 percent compound annual growth rate. What reasons are being given for such a huge jump? Well, some of the key contributors include the bigger focus on competitive intelligence and the market, the increasing use of smartphones for user engagement across social media channels and the necessity of social media measurements to improve the overall customer experience.
Which sectors benefit the most?
Well, the answer seems quite obvious—the e-commerce and retail sector, of course. These two verticals are expected to enjoy the biggest market share for the duration of the forecast period. At the moment, this industry vertical is undergoing a huge transformation, since mobile e-commerce is rapidly rising in terms of popularity and serving as a more convenient alternative to conventional brick-and-mortar stores.
The e-commerce industry is expected to pass the $2 trillion mark in 2017, according to a recent Forbes report. While this might have something to do with the emergence of several e-commerce sites, it has also been responsible for increasing competition among online retailers.
As a result, companies must take the initiative to identify brands based on customer voice analysis, enhance their customer-service management and generate insights based on their preferences if they want to expand their customer base for ecommerce websites.
Social media can help e-stores achieve this goal easily since the platforms offer a huge database of unsolicited customer reactions. Brands can use these opinions for effective brand management and to gauge the effectiveness of their campaigns. Moreover, it can help them scope out potential growth opportunities, enhance their products and services and keep track of the competition with the help of a single ecosystem.
This need to evaluate unstructured data to better grasp customer behavior and establish trends can increase sales, as well as marketing management applications, within the international social media analytics market.
As far as the actual process of evaluating the data is concerned, advanced analytics—including descriptive and predictive analytics—proved to be useful for analyzing real-time and historical data and developing useful marketing strategies. So, predictive analytics can prove useful for figuring out sales figures and determine the right course of action.
High compound annual growth rate expected for cloud deployment model
Cloud-based deployment models are easily available and cost a lot less money. As a result, they are experiencing a surge in demand.
Moreover, cloud-based solutions have simpler physical installations, lack high maintenance charges and offer accessibility around the clock from all over.
These advancements made in the field of cloud technology are expected to cause a surge in the growth rate of cloud-based deployments, more so than in the case of on-premises deployment. It is also interesting to note that cloud-based solutions offer greater flexibility and agility as far as usage is concerned.
North America will enjoy the biggest market share
When it comes to market share, the U.S. and other parts of North America are expected to reign supreme from 2017 to 2022. A major reason might be the early adoption of different new and upcoming technologies, along with the rise of several social media analytic vendors in this area, thereby consolidating the biggest chunk of the revenues in the market.
On the other hand, the Asia-Pacific area will supposedly witness the greatest compound annual growth rate during this forecast period.
Other significant contributing factors to the growth of the social media analytics market for the duration of the forecast are the significantly larger investments made in countries like China, India and Australia and the requirement for low-cost analytical services and software among small and midsized enterprises.


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AUSTIN, MINN. — Hormel Foods Corp., through its 199 Ventures venture branch, has entered into an exclusive partnership with Sacramento, Calif.-based The Better Meat Co. The company alliance will help bring a new mycoprotein to market along with other meat alternative food products.
The Rhiza mycoprotein is produced via a potato-based fermentation that was pioneered by the company, according to The Better Meat Co. It has a meat-like texture that claims to have more protein than eggs and more iron than beef. The ingredient also is free from major allergens, low in fat, and contains no cholesterol or genetically modified organisms.
"As a global branded food company, we understand our food culture is changing at a rapid pace and people are curious and willing to try great tasting, plant-based proteins," said Fred Halvin, vice president of corporate development at Hormel Foods. "We are excited to work with The Better Meat Co. team to continue to offer delicious and convenient mycoprotein and plant-based protein products."
The Better Meat Co. began in 2018 and produces meat alternative creations that are blended with beef, pork, chicken or fish. Its first major partnership led to the launch of Perdue Farms’ Chicken Plus line of tenders, patties and nuggets, which now are sold in 7,100 grocery stores.
"We're proud to partner with Hormel Foods to unleash the power of fermentation to build an even more sustainable food supply," said Doni Curkendall, executive vice president of operations at The Better Meat Co. "Hormel Foods has a deep bench of expertise in both animal and plant proteins, and we look forward to working together to bring our delicious mycoprotein to the world."
Hormel started 199 Ventures in 2019 to help the company invest in other companies that align with its food processing future.
Hormel Foods developed other plant-based products for Planters peanuts, Skippy peanut butter and Justin’s nut butters, as well as several plant-based pizza toppings in the foodservice industry through its subsidiary, Burke Corporation, and under the Happy Little Plants brand.


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In many cases throughout our daily lives, we often end up choosing between two general options. Coffee or tea? Bicycle or car? TV shows or movies? When it comes to user experiences in applications and digital activities – security or convenience?
According to the latest Curve of Convenience 2020 Report by the applications delivery networking company F5, the Asia-Pacific region is more or less leaning to the middle. In “The Privacy-Convenience Paradox Media Briefing” held virtually on August 12th by F5, the company presented various statistics supporting this fact.
Keiichiro Nozaki, Senior Marketing, Evangelist at APCJ F5, started the briefing by explaining the methodology used by F5 in surveying a total of 4,107 respondents throughout Asia-Pacific – in Australia, China, India, Indonesia, Hong Kong, Japan, Singapore and Taiwan.
The first insight provided in the research was that data breaches do not affect consumer behaviour in the short term, instead their trust in the compromised applications diminishes over time. In the 2020 study, a staggering 96 per cent of respondents continued to use an app following a high-profile breach, compared to F5’s similar study in 2018 that saw 72 per cent of respondents state that they would not use an app when data is compromised.
However, according to the report, businesses should not take this as a “safety net” and instead educate their users about data security. This is reflected in the fact that there is an 11.5 per cent average decrease of users’ trust in apps across all categories.
Moreover, F5 concluded that data security is “table stakes” and user experience defines the value of the brand to the customer, with 38 per cent saying security is the most important feature in an application while 22 per cent chose user-friendliness of the app.
This proves that both security and convenience are important for users when using an app. To achieve such convenience however, appropriated data from users is needed to implement personalisation and customisation.
On that note, an average of 69 per cent of the respondents across all markets are willing to share/store personal data on applications. 43 per cent said that they rely on platform providers to protect their data, 32 per cent rely on the government and 25 per cent rely on themselves.
F5 also learned that markets display varying emphasis on convenience and security across Asia-Pacific, highlighting how each market is on a different stage of their “security-convenience” journey.
“What is clear in this study is that convenience and security are non-binary – to win in a post-pandemic world, businesses must step up their digital transformation efforts and create seamless experiences that also seek to protect customers”, the report stated.
This is true in improving the user experiences and at the same time implement a stronger security to truly achieve a situation wherein both the consumers and providers are getting the same benefits. To do this, a collaboration between the customers and companies should be introduced.
“Partnering with consumers means that the industry can thrive and businesses, together with their digital partners, can create better solutions that deliver seamless yet secure experiences, any time, all the time. Ultimately, showing users what’s at stake will help them feel that they should be invested in their own protection”, stated Ankit Saurabh, Assistant Lecturer, School of Engineering and Technology at PSB Academy.
To end the briefing, Shahnawaz Backer, Principal Security Advisor at APCJ F5 provided three key takeaways: Bringing customers along the security journey, evolving traditional security and risk approaches and leveraging new technologies and the correct solutions.


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Even though the U.S. Department of Agriculture (USDA), along with the U.S. Senate, recently introduced legislation to boost the prices of dairy products this year, block cheese prices held steady last week, averaging just under $1.27 per pound through the first quarter of the year. The final price closed at the Chicago Mercantile Exchange on Friday. The steady cheese prices were good news to both chain franchise chain pizzerias and smaller independent operators who have been struggling to keep menu prices from rising.
In bit of pizzeria good news on Wall Street, shares in Pizza Hut, Chuck E. Cheese, California Pizza Kitchen and Pizza Inn were all up from the previous week’s closing prices. Less fortunate were Domino's and Papa John's, with both stocks falling for the last week of March .
Even better news for Domino’s, Pizza Hut, and Papa John’s was their ranking as the top three national pizza brands as determined by the annual Brand Keys Customer Loyalty Engagement Index. The Loyalty Index ranks the brands on factors that consumers use to compare and buy products and services. In the most recent ranking report, Brand Keys found customer loyalty at Domino’s, Pizza Hut, and Papa John’s, to be the highest. Little Caesars, Godfather’s, Round Table and Chuck E. Cheese followed closely behind. The numbers also showed that all of the national pizzerias enjoy relatively high customer loyalty ratings, especially when compared to other restaurant types.


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February 24, 2023
Almost £100,000 worth of illegal vapes and cigarettes have been seized in Darlington following the latest joint operation by trading standards and police.
Darlington Borough Council and Durham Police have launched Operation Automn last month in response to the complaints about the sale of vapes to children, some as young as 12, and the supply of over-strength vapes in Darlington.
Several days of action have resulted in seizures of illegal over-strength vapes and/or illegal cigarettes, and the total value of seized goods so far is almost £100,000.
Following the previous day of action, seizures of illegal vapes have been made in Darlington from Neasham Road Mini Market; Magic Vape on Tubwell Row; Cloud Collaborative on King Street; Darlo Phone Repair on Skinnergate and Dima Mini Market on North Road.
Suspected counterfeit or illicit cigarettes and hand-rolling tobacco have also been seized from Neasham Road Mini Market and associated addresses; Dima Mini Market on North Road; Easy Shop on Victoria Road and S V Mini Market on Gladstone Street.
This operation has so far removed 4,802 illegal vapes from sale, ranging from 2,500 puffs to 10,000. A 3,500 puff vape is approximately equivalent to smoking 280 cigarettes. In addition, 112,540 illegal cigarettes and 36.75kg of hand-rolling tobacco were also seized.
The premises were all visited following complaints from members of the public. All retailers were given advice on the law, particularly in relation to underage sales, and reminded of their obligations.
Shaun Trevor, who led the operation on behalf of trading standards, said: “If you sell illegal vapes or cigarettes, especially to children, then expect a visit from us.
“We would encourage residents to report any concerns about any suspected illegal products. We take complaints seriously and will investigate them all and take action where appropriate. We have further action planned in order to stem the flow of these illegal products in Darlington.”
Councillor Mike Renton, the council’s cabinet member for stronger communities, added: “This trade in illegal goods not only harms our communities but also businesses who are complying with the law and finding that they can’t compete with nearby stores selling illegal goods at pocket money prices.
“We will continue our efforts to monitor and visit stores which sell illegal products and don’t comply with age restrictions, and will use all available measures including prosecuting those responsible to put a stop to this trade.”
Inspector Peter Newman, from Durham Constabulary, said: “Illicit and dangerous tobacco can not only cause serious harm to people’s health, but the proceeds are often invested into organised crime and can help fund more serious offences.
“If you have information regarding potential criminality in your community, please report it to us.”


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The door is quickly closing, Nixon said, to get the Florence Processing and Distribution Center back.He said once teh USPS finishes Phase 2 in January, it will be really hard to get it back.“We need help from local politicians, but more importantly we need help from the community to come out and talk about their issues,” he said.December 12, 2011 – USPS released the results of its AMP study stating “the initial results of the study support the business case for consolidation.” December 14, 2011 – USPS agreed to impose a moratorium on closing or consolidating post offices and mail processing facilities prior to May 15, 2012, to give Congress and the Administration the opportunity to enact an alternative plan.
The security of the mail must prevail.”Wukela added that privatizing is dangerous because the duties of the mail aren’t motivated by profit margin.
He said the framers of the Constitution held the mail service in high regard when it was drafted, quoting Article 1, Sec. It names the right to establish post offices and post roads, before establishing the Supreme Court and power to declare war.“The responsibility was more important to our forefathers than the power to declare war,” Wukela said.
Business men are good at making a profit, but they aren’t good at delivering the mail.”Wukela added that privatizing is dangerous because the duties of the mail aren’t motivated by profit margin.“What happens when the mail handler is a clerk working at some local retail establishment? The only South Carolina mail processing facility affected by the consolidation is Florence.
Phase 2 of the USPS Network Rationalization starts this January.
Information provided by the USPS said 82 facilities will undergo consolidation activities impacting 15,000 employees.
It said over five years, Phase 2 is expected to save .5 billion and will cut processing facilities by more than half nationwide.
If the goal was to correct some of the problems internally, they haven’t done that either. On one occasion, it took a payment for a client from an insurance adjuster 17 days to get to Florence from Myrtle Beach.
I don’t know how it could have gotten worse.”Wukela said there was a time several years ago when he could go pick up his business mail at a.m., sift through it and open the doors at 9 a.m.. That same day he said he received 81 pieces of mail that had been postmarked over a two-week period.“Efficiency is when you know if you put something in the mail, it will get to where it’s going,” Wukela said.
Timeline of USPS Postal Processing Center Consolidation Proposal at Tucson P&DC September 15, 2011 – USPS issued notice that they were conducting an Area Mail Processing (AMP) feasibility study on the consolidation of “all originating and/or destination distribution operations…” “…


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At the Digital Transformation through Industry 4.0 workshop, IPI experts came together to share their valuable expertise with attendees across health, logistics and food industries.
From simple stone tools to the digital realm—technology has long been the catalyst of global economic and societal transformations. Today, organisations, governments and businesses remain intent on pushing the boundaries of tech. In fact, digital transformation has become integral for companies to stay competitive in a globalised world that is increasingly shaped by data and connectivity. Such transformation is particularly relevant in a tech-driven smart nation like Singapore.
However, adopting new technologies and strategies is no easy feat. To address some common challenges faced by businesses, IPI organised a “Digital Transformation through Industry 4.0” workshop held on 14 September 2022, which aimed to direct local businesses towards sustainable transformative practices.
The event began with a panel discussion that discussed the Singapore Smart Industry Readiness Index (SIRI), a three-part framework designed to ensure inclusive digital transformation across industries and companies. Panellists included seasoned industry and technology leaders Tay Beng Hwee, Derek Tan, and Albert Pozo, and was moderated by Innovation and Transformation Consultant for the FMCG and food industry, Dr. Ong Mei Horng. To enable attendees to contextualise the information, the panel was followed by breakout sessions which tackled specific business challenges in the food, healthcare, and the logistics and supply chain sector.
Transformation with a purpose
Running a business can be unpredictable and every move requires precision. In her opening speech, Dr. Ong stressed the importance of distinguishing three concepts that have been used interchangeably in media and in business: digitisation, digitalisation, and digital transformation.
“When we talk about digital transformation, it’s not just buying the technology for the process. It’s important to shape the organisation—to develop the people and ensure they are future-ready,” she explained.
Digital transformation, she stated, involves a top-down organisational embrace towards digital practices. More importantly, such a transformation is a step-by-step process and must be grounded in your business goals. According to Dr. Ong, this is where the SIRI framework can help. By outlining three core building blocks for digital transformation—process, technology, and organisation—businesses can adopt technology in a more sustainable manner.
The key, according to Tay , is to understand your purpose and core competencies as a business. This can be done through a Value Stream Map, which can ultimately guide you in determining how you can optimise your digital investments.
“There are lots of technologies out there. But is it suitable for your purpose?” he shared. “The process map will help guide the choices you are making by identifying what distinguishes your business and how you want to use technology to stand out.”
A strong theme across the panel discussion was the emphasis on the role that organisation culture plays in sustaining digital transformation. For instance, fostering a culture of innovation in a company may help eliminate anxieties about technological change.
“You need to be ready as an organisation to implement changes that will make you stop doing some things,” urged Pozo. “People should not feel at risk because of things you stop, they should see them as an opportunity for added value.”
The SIRI framework, according to Dr. Ong, also considers the organisation’s talent readiness and its structure and management. Successful digital transformation, she said, does not just stop at the level of the CEO, it requires collaboration both within and outside your company. Similarly, Tay and Tan advocated for company leaders to consider customers and informal or external talents when making business decisions regarding the use of technology.
Pozo argued that it is also important for company leaders to be competitive and critical at all times. Not only do they need to communicate the purpose of digital transformation all the way to the customer, but they must also recognise that digital transformation is a continuous investment, not just a one-time move.
Navigating each sector
The breakout rooms allowed participants from various sectors to share their specific issues regarding Industry 4.0 and consult the innovation advisors. In the food sector, a common challenge experienced by enterprises is the slow client adoption of digital practices.
One company, that produces poultry, eggs and livestock feed in Southeast Asia, reported that it was difficult to entice hawkers and wet markets to transition to cashless options. “You can't expect them to immediately adopt electronic invoicing,” Pozo admitted. However, there is value in meeting the clients in the middle where companies must facilitate a gradual transformation. He recommended adopting semi-cashless options like using Industry 4.0 technologies, such as natural language processing in Whatsapp, to introduce customers to the idea.
On the other hand, the healthcare and logistics sector breakout rooms, led by Tay and Tan respectively, discussed the intricacies of system integration and digital planning. At the logistics session, Tan encouraged companies to use technology to disrupt the ecosystem, citing successful examples like the iPhone. He also stressed that companies should be mindful of the ecosystem’s readiness for such technology, entailing the need for effective communication of value proposition to the customers.
During the healthcare session, Tay addressed the individual questions of attendees and advised bringing in an external consultant that is familiar with digitalisation and able to help the company make difficult decisions.
“Events like these can connect people who have different experiences and allow them to build their network,” shared Pozo. “By including industry experts, IPI introduces an additional perspective outside of the industry and region to learn from experiences happening elsewhere as well.”


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The sports and outdoor apparel group reported the strongest quarterly and year-to-date results in the company’s history on Thursday, announcing particularly strong sales increases in its US direct-to-consumer channel.
Columbia net sales increased 21 percent to a record $481.6 million, in the second quarter ended June 30, driven by both wholesale and direct-to-consumer net sales, especially in Latin America and Asia Pacific.
The Portland, Oregon-based sportswear group reported on Thursday higher-than-expected sales growth in Q1 2018, driven by strong progress in the company’s global direct-to-consumer channel and modest wholesales gains.
The company has announced a positive fourth quarter, ended December 31, 2017, propelled forward by even demand across apparel, accessories and footwear categories, and success in EMEA, Canada and APAC.
The U.S. outdoor apparel brand beat estimates and posted a rise in sales for the first quarter to over $543 million, but the radically evolving American sports wholesale and retail industry dragged down results at home.


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Trans-Pacific peak-season uptrend continues, rolling varies
Bill Mongelluzzo, Senior Editor | Aug 24, 2018 2:43PM EDT
Excerpted from JOC.com
Spot rates in the eastbound Pacific edged up for the fifth consecutive week, and are up more than 50 percent since mid-June, but it is uncertain how long the overbooking of vessels leaving Asia will continue because the frenzy by importers to beat pending tariffs cannot continue indefinitely.
Trans-Pacific eastbound: steady climb since June 22
The East Coast rate has been on a rather steady incline since June 22 and is now 52.6 percent higher than it was in June. The West Coast rate is up 78 percent since June 22.
A good deal of uncertainty surrounding Trump administration tariffs is driving the frantic efforts by importers to get their holiday merchandise into the country before prices increase further. Jonathan Gold, vice president of supply chain and customs policy at the National Retail Federation, said Friday “there is no end in sight” to reaching a resolution on the tariffs and counter-tariffs by China.
That tariff uncertainty, combined with above-trend US import growth, created increased demand conditions — market conditions that, historically, typically lead to rising rates.
At the same time, individual container lines, stung by unexpected rises in bunker fuel costs and inland/logistics costs, saw a chance to at least stem the bleeding from their largely industry-wide disappointing results in the first half of 2018. (The industry also is coming off years of losses, with last year being the first in six that the industry earned a profit, $7 billion.)
Moreover, the strong increase in US imports cannot be underscored enough as a causal factor in the uptrend in rates. Imports in July increased 8.7 percent year over year, compared with a 6.1 percent increase in July 2017, according to PIERS, a JOC.com sister product.
Further, it’s also important to note that container lines are increasing rates with individual customers/shippers, as conditions require it, and/or are increasing rates as part of their obligations under alliance agreements.
On the other hand, retailers and other importers can only import so much merchandise leading up to the holidays, so eventually imports will slow down and space on vessels will begin to open up. Opinions differ somewhat on when the decline will begin. “We’re projecting it will be tight until Golden Week,” said Max Kantzer, CEO of Transmodal Corporation. Golden Week will begin on Oct. 1, which is China’s National Day, this year.
David Bennett, president of the Americas at Globe Express Services, said the trade environment in the eastbound Pacific will remain volatile and uncertain until at least mid-September. In the coming few weeks, however, he sees “no pullback” in orders by importers. Even the addition of “extra-loader” vessels by Maersk Line in August was not able to bring supply and demand into balance on the largest US trade lane.
Rolling occurrence varies by carrier, trade lane
Non-vessel operating common carriers (NVOCCs) and beneficial cargo owners (BCOs) noted that overbooked vessels, which lead to shipments being “rolled” to subsequent voyages leaving Asia, giving carriers leverage to increase their rates, is on a carrier-by-carrier and trade lane-by-trade lane basis. For example, space out of Southeast Asia right now is quite tight because carriers are reducing their allocations for vessels from those countries to free up space for the surging shipments leaving China, Kantzer said.
Also, the commonly held belief that the largest importers are immune to carrier surcharges is not the case during this year of uncertainty, said the logistics director for a national retailer. Carriers, across the board, are filling only those allocations that the large BCOs have made from week to week at their service contract rates. Most carriers will accept additional shipments, if the BCOs agree to pay at least the spot rate, and sometimes an additional charge on top of the spot rate, in order to book those containers on the requested voyage, he said. Most carriers say the low service contract rates and an unexpected surge in bunker fuel costs resulted in losses in the first half this year, so they are looking to spot rate hikes and peak-season surcharges to return to profitability.
The additional costs charged to BCOs who negotiated contract rates back in May can be quite high. This week’s spot rate to the West Coast is $1,000 higher than the service contract rate, and some carriers are asking for a surcharge of $400 or more on top of that spot rate.
This same development is cutting into the profits of NVOCCs as well. NVOCCs are usually able to secure a competitive rate from carriers for their study customers, known as “named accounts.” Those rates are lower than what NVOCCs quote to their infrequent customers, and the rates are known as freight all kinds (FAK). For example, an NVOCC that months ago negotiated a rate, but must pay (nearly double) this week before adding its margin, is in trouble. “This leads to very difficult conversations,” one NVOCC said. “We can’t operate at a loss,” he said.
Confluence of factors led to tight eastbound Pacific
Current conditions in the eastbound Pacific have developed from an unexpected confluence of events. Carriers earlier this year negotiated (certain) contract rates because initial projections were that the summer-autumn peak season would see modest growth of about 3 to 4 percent over last year. Carrier vessel-sharing alliances then suspended three weekly services to the West Coast, reducing total capacity by about 6 percent, and one to the East Coast, reducing capacity by about 1.3 percent with the anticipation of moderate increases in imports.
However, early shipping because of tariffs uncertainties, typhoons that threw vessels off schedule in Asia, congested load-center ports in Asia, and dismal overall on-time performance of carriers of 35 to 50 percent reduced effective capacity each week below demand. Individual container lines, as market conditions allowed, then leveraged the weekly rolling of shipments in Asia to increase their rates rapidly.
BCOs, NVOCCs, and carriers are already looking ahead to Chinese New Year in 2019, when factories will close for a week or longer for the celebrations, and they are projecting a short slack period in the late autumn. Then they expect imports will pick up strongly in December. Chinese New Year falls on Feb. 5, 2019, compared with Feb 16 this year. If carriers do not run extra-loader vessels for the pre-Chinese New Year rush, the fall in spot rates in late autumn could be temporary and another round of spot rate increases and surcharges are likely, shippers and carriers agree.


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Commentary: Arizona Makes the Top 10 – Not in a Good Way
Equifax and Yahoo data breaches. IRS and home repair scams. Small print, fine print, misleading language on contracts.
While many Arizonans are vulnerable to poor data practices, scams and predatory behavior, older consumers face unique challenges and threats in the financial marketplace.
Scammers may look to take advantage of the savings, home equity or guaranteed income of older consumers.
An Arizona PIRG Education Fund & Frontier Group analysis of more than 72,000 financial complaints submitted by older consumers (those 62 years of age and older) to the Consumer Financial Protection Bureau and contained in its Consumer Complaint Database suggests that mistreatment of older consumers by financial companies is widespread.
Here’s what we found:
Arizona is ranked 10th in the nation for complaints by state by older consumers to the CFPB.
Mortgages are the leading source of complaints to the CFPB’s Consumer Complaint Database among older consumers, accounting for 31 percent of complaints.
Credit reports are the second-leading source of complaints by older consumers, accounting for 17 percent of such complaints. Most complaints relate to incorrect information appearing on reports.
Debt collection is the third-leading source of complaints by older consumers, accounting for 17 percent of such complaints (only slightly less than credit report complaints).
The majority of debt collection complaints allege either the consumer believes they do not owe the debt or the consumer feels they have been mistreated by the debt collector.
Many of the companies that have received the most complaints from older consumers have been the subject of enforcement actions by the CFPB.
Among the 10 most-complained about mortgage companies, three have been the subject of mortgage-related CFPB enforcement actions: Ocwen Loan Servicing, Nationstar Mortgage, and a company (Green Tree) that later merged with Ditech. In the case of Ocwen, the CFPB alleged that the company “botched basic functions like sending accurate monthly statements, properly crediting payments, and handling taxes and insurance.”
The CFPB has also taken action against at least 10 companies that engaged in illegal or predatory behavior related to reverse mortgages.
The three major credit reporting companies – Equifax, Transunion, and Experian – account for 95 percent of credit report complaints by older consumers.
The CFPB is a critical ally for older consumers, and consumers of all ages.
In addition to taking action against bad actors, the CFPB’s Office for Older Americans produces educational resources, research, and advisories to help older consumers plan their financial future and stay secure in the financial marketplace.
The CFPB’s broader consumer protection work has resulted in close to $12 billion in restitution with over 29 million consumers receiving relief from harmful financial practices.
To protect older consumers and all consumers in the financial marketplace, policymakers must protect the CFPB from attempts to weaken the agency or hinder its independence.
To learn more about the CFPB or to file a complaint: www.consumerfinance.gov.
Diane E. Brown is the Executive Director of the Arizona PIRG Education Fund. The report “Older Consumers in the Financial Marketplace: An Analysis of Complaints, and Results, From the CFPB” can be found at www.arizonapirgedfund.org.


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Fitzpatrick Obtains Another General Exclusion Order from ITC for Longtime Client Canon
On August 31, 2015, the International Trade Commission issued a General Exclusion Order in Investigation 337-TA-918, prohibiting the importation of toner cartridges and components thereof that infringe five Canon patents on laser toner cartridge technology. The Commission also issued Cease and Desist Orders against many of the Respondents in the Investigation, prohibiting the sale of infringing toner cartridges and components that have already been imported.
Fitzpatrick, on behalf of Canon Inc., Canon U.S.A., Inc., and Canon Virginia, Inc., filed the Complaint that led to the Investigation against thirty-one foreign and U.S. Respondents, seeking to exclude the importation and sale of infringing toner cartridges compatible with certain Canon and HP printers. Fitzpatrick also brought concurrent patent infringement actions on behalf of Canon Inc. against those entities in the U.S. District Court for the Southern District of New York. In May of this year, the Administrative Law Judge presiding over the Investigation determined that Canon had proven that its patents had been violated, and recommended that a GEO issue to remedy the violations. The issuance of the GEO marks a successful conclusion of the Investigation for Canon. This is the second GEO that Fitzpatrick has obtained from the ITC on behalf of Canon.
The Canon litigation team included Fitzpatrick partners Nicholas Cannella, Michael Sandonato, Edmund Haughey, Stephen Belisle, Diego Scambia, Justin Oliver, and Joshua Rothman, and associates Donald Heckenberg, Anna Huang, Seth Boeshore, Austin Ginnings, John Nappi, Robert Pickens, Sean McCarthy, and Margaret Scales.


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What does sugar have in common with cigarettes?
- Posted on Nov 15, 2016
An article on Medscape titled “Sugar is the New Tobacco, so Let’s Treat it that Way” caught my eye. The commentary said that the United Kingdom is introducing a 20% tax on sugar sweetened beverages in 2017. The World Health Organization recommends the same tax on sugary drinks to curb the epidemic of both obesity and diabetes type 2. What is the association between sugar and cigarettes? Heart disease from smoking did not go down until legislative measures targeted “affordability, availability and acceptability of smoking.” We need to do the same for sugar. A 15% reduction in sugar consumption would mean 180,000 people do not become obese but the benefits go beyond that. For every 150 sugar calories available, there is an 11 fold increase in diabetes type 2. This is compared to 150 calories of protein or even fats. The prevalence of type 2 diabetes is going up in the US in both obese and non- obese. Diabetes is not just a disease for the overweight population. There is a 3 fold risk of cardiovascular mortality among adults who consume more than 25% of their calories from sugar. And that is easy to do. Food labels are confusing and more then 80% of processed foods contain sugar. The World Health Organization recommends we consume no more than 3 teaspoons of sugar but the average US citizen consumes 4-7 x that amount! Almost half of that sugar comes from sources we don’t consider, like ketchup or salad dressing. Only a sixth of our sugar intake comes in sources we know to be bad for us, like cookies or ice cream. It took 50 years before the links between smoking and lung cancer were published and effective regulation was introduced. The tobacco industry worked to deny, plant doubt, and buy the loyalty of scientists. The article pointed out the unfortunate similarities to the sugar industry…like the fact that they paid three Harvard scientists to downplay sugar’s role in heart disease. Last year, the New York Times exposed that Coca-Cola paid millions of dollars to also fund research that downplayed sugars role in obesity and promote that exercise was the main factor in weight gain. The article ends…”the case against sugar is overwhelming. Sugar is the new tobacco, so let’s start treating it that way.” (Medscape article written by Aseem Malhotra MBChB, MRCP Oct 31, 2016)


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The UK economy contracted by 0.1 percent between April and June, owing to a drop in household spending and the winding-down of coronavirus-related health services, after growing by 0.8 percent in the previous three months.
It was the first drop since the pandemic, partly due to the holiday of Queen Elizabeth II’s Platinum Jubilee celebrations, raising fears of a recession.
The extra holiday at the start of the month resulted in a 0.6 percent GDP drop in June, following a surprise increase in May due to the festivities.
With energy bills skyrocketing and food and fuel prices skyrocketing, Rishi Sunak and Liz Truss devised plans for tax cuts or additional consumer assistance.
Darren Morgan, Director of Economic Statistics at the National Bureau of Statistics, commented on the GDP figures, saying, “With May growth revised down slightly and June showing a significant decline, the economy contracted slightly in the second quarter.”
“The biggest cause of the economy’s downturn was health, as testing, tracing, and vaccine programs slowed, while many retailers also had a tough quarter. This was partially offset by growth in hotels, bars, hairdressers, and outdoor events throughout the quarter, owing to People’s Platinum Jubilee,” Morgan added.


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Bruce Wayne, eccentric billionaire by day, is better known for moonlighting as Batman.
Read This Article
Nissan's full-size van has been a surprise hit in a burgeoning commercial segment
Automotive safety system manufacturer Autoliv has come under scrutiny from the National Highway Transportation Safety Administration for faulty side airbag parts.
We like the 2013 Nissan Pathfinder. We just don't love it is all.


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Wondering how to get Monopoly GO! free rolls? Well, you’ve come to the right place. In this guide, we provide you with a bunch of tips and tricks to get some free rolls for the hit new mobile game. We’ll …
- Our Best Roblox Horror Games guide features the scariest and most creative experiences to play right now on the platform!
- Our feature shares our pick for the Best Roblox Games of the week! With our feature, we guarantee you'll find something new to play!
- Wondering what your odds of rolling a particular Clan are? Wonder no more, with my handy Type Soul Clan Rarity guide.
Tag: Infinity Blade
- Epic Games founder Tim Sweeney has announced the shuttering of Impossible Studios. The studio, formed by Epic back in August to develop Infinity Blade: Dungeons, has been offered three months' severance pay, as well as the opportunity to keep using the Impossible Studios name and logo (pictured to the left).
- Depending on which part of the United States you live in, it's either early afternoon or early morning. Whether you're a New Yorker or a Californian, however, I can almost certainly guarantee it's too early for this particular discovery. It seems that due for an App Store release tomorrow is an Infinity Blade clone called VOTE!!! starring cartoon caricatures of President Obama and Republican nominee Mitt Romney. Made by the actual makers of Infinity Blade!
- Within an extremely short timeframe, it seems like the next big thing in mobile gaming is all about getting bigger. We're not talking popularity, either - it looks like the handheld titles we've grown to know and love are literally taking a large step onto the big screen.
- Another big Apple press event, another chance for Epic Games to take the stage and unveil an entry in their much-beloved Infinity Blade series. To coincide with the announcement of the third generation iPad today, Epic took to the stage to proudly show off a third release of their own - Infinity Blade: Dungeons.
- Back in 2010, there was a great little game that was released for iOS devices. It was called Infinity Blade. You may have heard of it. Last year, the inevitable sequel launched — which was almost as good as the original. Now, Infinity Blade Cross has just launched on DeNA's Mobage social gaming platform over in Japan.
- Like the rest of the gaming world, Infinity Blade knocked our collective socks off when it came out in December 2010. One year, a few updates, and a novella later, Chair Entertainment has unleashed the first full on sequel to the App Store. But is Infinity Blade II really the follow up we were all hoping it could be?
- The mobile gaming world is abuzz today with the announcement of Infinity Blade II, but there's another story coming out of the Infinity Blade world that's worth telling. In fact, it's the story of a story. Available for $2.99 through iBooks, Kindle, and Nook digital storefronts, EPIC Games has just e-published the novella Infinity Blade: Awakening.
- Earlier today we brought tidings of great joy! Infinity Blade II was announced at Apple's fall press event, and we were more than excited to help spread the word. Now, only a few hours later, the first official screenshots have hit the web - along with a trailer - to show gamers exactly what they'll be in for when the game hits the App Store on December 1st.


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|2021 Quilt Show
The Guild’s Board of Directors unanimously decided to cancel the traditional Quilt Show scheduled
for spring 2021 due to concerns about COVID. We will not consider an indoor event until the last
reopening phase (that allows large group gatherings without masks) of the pandemic.
We are currently looking at the possibilities for a non-traditional event such as a virtual show and/or
a drive by street quilt display. Suggestions are appreciated.
Kate Weber, 2021 Quilt Show Chair


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FTX and Binance: how latest crypto scandals could influence public opinion on digital currency regulation
NFT: WeMade launching S. Korea's first NFT game exchange next month
WeMade Entertainment Co., Ltd, a South Korean video game developer known for its massively multiplayer online role-playing game (MMORPG) game series called “Legend of Mir,” is set to open the first online NFT game exchange in Korea next month.
WeMade Co. will launch the non-fungible token game exchange so users can trade characters and other in-game items as cryptocurrencies. As the number of game developers entering the NFT sphere continues to grow, experts can see the blockchain-based game market becoming even more competitive soon.
WeMade is the latest Korean game developer to announce its foray into crypto-based gaming. According to The Korea Economic Daily, the company will unveil its NFT game exchange called the Mir4NFT.
Apparently, it has based the name on its most successful MMORPG, “The Legend of Mir” game series. The company will be unleashing Mir4NFT on Dec. 14.
Once the site is up, gamers can open an account on the Mir4NFT game exchange, and they can begin trading game characters they have created or items they have accumulated while playing. Users must use the currency created by WeMade called WEMIX, which can be bought in foreign or local crypto exchanges.
NFTs based on the game’s IP or intellectual property already exist, but WeMade’s Mir4NFT will be the very first NFT exchange where the contents in a game are linked. After the company launched its game exchange, Com2Us, Gamevil, and NCSoft Corp. are also expected to release NFT-based games.
In the case of another Korean gaming company, Kakao Games Corp., it is likely to become the second game developer to open an NFT game exchange. Its platform is reportedly ready sometime next year.
At any rate, while more and more companies are revealing their plans to incorporate NFT into their games, South Korea pushed through with its move to ban blockchain-based video games that give cashable NFTs as a reward.
Forkast previously noted that players of WeMade’s MIR4 game couldn’t experience the game in its entirety because the local version does not have play-to-earn features that are being enjoyed by gamers overseas since the ban is in effect in Korea. It is yet to see how WeMade’s upcoming Mir4NFT game exchange will be affected by the policy set by Korea’s Game Rating and Administration Committee.
Will AI kill our creativity? It could – if we don’t start to value and protect the traits that make us human


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Swimsuit, camping gear, bug spray. A shopping list?
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From the Marketplace Datebook, here’s a look at what’s coming up Tuesday, May 13:
The 150th anniversary of Arlington National Cemetery is marked with a wreath-laying ceremony, the first in a series of commemorative events.
Doing any shopping ahead of summer? Your purchases may be reflected in these numbers. The Commerce Department reports retail sales data for April.
The Senate Budget Committee discusses, “Expanding Economic Opportunity for Women and Families.
Ten years ago, after 11 seasons, the series finale of “Frazier” aired.
And one of the “Girls” has a birthday. Lena Dunham turns 28.
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.


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The “bold way” Tom Hanks released a statement broadcasting how he and his wife Rita Wilson had tested positive for coronavirus is something brands can learn a lot from, according to celebrity expert Jeetendr Sehdev.
A professor of marketing at the University of Southern California and author of book The Kim Kardashian Principle, which explores how the social media star’s “innovative” approach to brand building can be applied to corporate businesses, Sehdev said that the best thing a brand can do right now is, to be honest.
Speaking during an interview as part of The Drum’s Digital Transformation Festival, Sehdev explained: “It is very important for brands to find a way to reduce the anxiety of their consumers. The ones which do this are going to build an affinity that will last years into the future,” he explains.
“The way Tom Hanks and his wife posted so bravely about having coronavirus, and without making much fuss, while urging people to self-isolate, would have made such a big impact globally.
"Brands can learn a lot from that. If you can launch a campaign that is transparent and make people see coronavirus as less of a taboo then that’s going to leave a lasting impression. You need to help your customers get through this.”
Sehdev also name-checked luxury goods group LVMH’s response to Covid-19 as an example of how to get things right. In response to the pandemic, LVMH, which owns alcoholic brands such as Hennessey and Moët, is using three of its perfume and cosmetics factories to produce hand-cleaning hydroalcoholic gels. It will then deliver these gels free of charge to the French health authorities.
“‘Through this initiative, LVMH intends to help address the risk of a lack of product in France and enable a greater number of people to continue to take the right action to protect themselves from the spread of the virus,’ a statement from LVMH reads.
“It is such a genius move,” Sehdev insists. “At times of strife, brands have to innovate and try something new. A company, most known for luxury alcoholic beverages, doing a free hand gel is a good example of going outside of your comfort zone, but with real purpose.”
Looking ahead to the next two months, a period where the spread of coronavirus is expected to worsen in UK, Sehdev is advising brands not to stay silent and stressed the need for clear and concise communications during these uncertain times.
He concluded: “Over 70% of the younger generation want to connect with brands on a value or an ethical level and this crisis is a huge opportunity to do that in an authentic way.
“You can’t just play to the lowest common denominator anymore; brands have no choice but to speak up."
You can watch the full panel session above and view more content from The Drum's Digital Transformation Festival here.