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Sustainability Snapshot: The intersection between food supply and sustainability
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Currently contributing to a third of global greenhouse gas (GHG) emissions, the food and agricultural industries are expected to grow this impact in the years ahead. In addition, by 2050, it’s expected we’ll have to increase food production by 50% to feed the world’s population. At the same time, these industries face the challenge of decreasing productivity due to the direct impacts of climate change.
For these reasons and others, it is critical to watch how the food supply and agricultural industries manage their ever-changing environments. With pressure comes performance and innovation—it’s often what causes leading organizations to pull ahead.
On June 14, 2018, Bullfrog Power gathered speakers from leading organizations—Unilever Canada, Burnbrae Farms and Just Food—within the industries who are changing the game by innovating in sustainability. The organizations are also linked by their commitment to reducing their impact through renewable energy. Below are highlights from the evening’s presentations.
Unilever’s Sustainable Nutrition Manifesto
Presented by Devin Borst, Senior Brand Manager for Ice Cream, and Kristina Burgener, North American Knorr Innovation Manager at Unilever Canada. Unilever Canada has been choosing green energy with Bullfrog Power for its Canadian operations since 2011.
In 2010, Unilever launched its Sustainable Living Plan with the ambition to double the size of the business while improving livelihoods and reducing its environmental impact by half. As a part of this journey Unilever decided to evolve its food strategy and the Sustainable Nutrition Manifesto was born. Its vision was to create Food that tastes good, that does good and that doesn’t cost the earth. Unilever would deliver this vision through a strategy of producing nutritious food with less impact on the environment and less waste, benefitting the livelihoods of food producers, and improving the nutrition and wellbeing of consumers.
Applying the Sustainable Nutrition Manifesto regionally
One of the biggest challenges for multinational organizations in the food industry is applying strategies set at the global level locally within different regions. Ultimately, people in different regions have a different way of interacting with brands; additionally, they care about different things when it comes to their food.
How did Unilever bring its Sustainable Nutrition Strategy to life for its brands in Canada? With respect to its core food brands, which include Hellmann’s mayonnaise, Knorr brands, and Becel margarine products, Unilever began to evolve how consumers experienced the brand (through its products as well as its brand campaigns).
The organization had been using the campaign concept: What’s for Dinner? successfully for years as an in-store strategy to help bridge together a very complex portfolio. Through What’s for Dinner?, Unilever was able to introduce various recipes to consumers to help them find ways to use Unilever products in new and different ways.
However, when the Sustainable Nutrition Strategy rolled out at the global level, the organization realized that What’s for Dinner? needed to evolve to mean something more. In response, the organization launched a new strategy, Meals that Matter, in 2018.
Meals that Matter helped explain why every single meal customers cook with their families is important, why it’s critical to know what’s on your plate, what ingredients are in the products that you’re buying in the store and where they come from.
The program was born from the insight that—for the first time ever—Canadian millennial consumers are spending more money on delivery and take-out than on groceries. If Unilever Canada can encourage Canadians to cook one more meal with their families each week through the Meals that Matter program, they can drive a significant impact in the lives of Canadians.
Sustainable sourcing with Hellmann’s
Since 2007, Hellmann’s has been featuring the Real Food Movement campaign, an awareness campaign that helps Canadians become more educated about where their food comes from. Year over year, the campaign has been delivering strong financial results, demonstrating that sustainability can pay off.
Key to the campaign is highlighting the best of the best of Hellmann’s suppliers. All of the canola in Hellmann’s mayonnaise is sustainably sourced in Canada; the organization also uses 100% cage-free eggs from Burnbrae Farms, Canada’s largest egg company, which is also bullfrogpowered.
To continue driving Hellmann’s Real Food Movement, the organization developed the Hellmann’s Blue Ribbon Farm Program. A Blue Ribbon Farmer is a Hellmann’s supplier that:
- works to improve the sustainability of their farm;
- is compliant with the requirements of the Unilever Sustainable Agriculture Code; and
- is actively implementing initiatives and utilizing new technologies to improve farming practices.
Further, Blue Ribbon Farmers want to share their work with the world by actively promoting sustainable agriculture; stories on sustainable farming are made publicly available on Hellmann’s websites, social media sites and more. Through the Blue Ribbon program, Unilever is hoping to encourage Canadian households to make better choices—and other organizations in the industry to adopt similar sustainable sourcing programs.
Social responsibility at Burnbrae Farms
Presented by Dave Chapman, Managing Director, Egg Shell Products and Sustainable Business Initiatives at Burnbrae Farms. Burnbrae Farms has been a Bullfrog Power customer since 2009, purchasing 100% green electricity for its Free Run Omega 3 Eggs, Naturegg Simply Egg Whites, and Nestlaid Egg lines.
Burnbrae Farms is Canada’s largest vertically integrated egg company, supplying retail, food service and industrial chains. With decades of family farm heritage, Burnbrae Farms has always placed a high value on social responsibility, even long before that was a commonly used term.
A Canadian, family-owned business dating back to the late 1800s, Burnbrae Farms operates under the mission “Eggs for life.” The organization recognizes the current challenges facing the food industry: trying to feed our country with only two per cent of population involved in farming, while modern farming practices are increasingly under scrutiny. To this end, the organization strives to focus on the health of Canadians, protecting the environment, and the welfare of the animals under its care.
One interesting recent example of their social responsibly efforts is The Eggshell Project. With a focus on the environment and waste reduction in mind, Burnbrae Farms identified an area of its business that was both a concern and an opportunity: egg shell waste.
With the health benefits of eggs being increasingly embraced by consumers, egg demand and production has been on the rise. Increased production of processed egg products and packaged egg whites was literally creating tonnes of egg shell waste. It was costing the organization hundreds of thousands of dollars a year to take the used eggshells to landfill; and it was also producing 7,000 tonnes of CO2.
Burnbrae Farms saw the opportunity to significantly reduce its impact on the environment. The organization stopped sending eggshells to landfill and instead worked with local waste providers to send them to compost. Eggshells are rich in calcium—and farmers are able to use the calcium-rich compost as excellent fertilizer. As a result, Burnbrae Farms was able to not only reduce its total landfill waste by 2,400 metric tonnes but also its GHG emissions by 7,000 tonnes.
In the future, Burnbrae Farms will continue to look for more ways to re-purpose eggshell waste, with the ultimate goal of potentially turning this waste into a revenue stream and contribute to the circular economy.
A local perspective: sustainable farming in Ontario with Just Food
Presented by Moe Garahan, Executive Director, Just Food. Just Food recently partnered with Bullfrog Power and Beau’s Brewery to install a 10 kW roof mounted solar system that is helping lower the costs of Just Food’s sustainable farming education and food equality initiatives.
Just Food is a community and economic development non-profit organization in the Ottawa region. The organization is taking up a food systems-approach to create vibrant, just, and sustainable food and farming systems. Founded 15 years ago, Just Food is working to change the way we think about farming. In her presentation, Garahan answered the following questions:
Where can the future of farming happen?
The future of farming can exist within residential areas, including ecologically protected areas. For example, Just Food is located on 150 acres in Ottawa’s National Capital Commission Greenbelt. It’s not alone; more than 1,300 registered farms currently exist within Ottawa’s boundaries. Just Food wants to demonstrate that Canadians can build vibrant food and farming systems within our cities.
Local food should be defined through a tiered approach—where we consider region first, then province, and then country. This approach will help ensure our local food systems maintain community ownership, even as we also seek to trade more broadly.
Just Food is diligently working to educate Ontarians on where food comes from. The group leads the Community Gardening Network with 100 community gardens in Ottawa, as well as almost 40 school gardens and is working with partners across Ottawa within the newly formed Ottawa School Food Network to ensure that every child knows where food comes from, visits a farm, cooks good food meals and grows food in indoor and outdoor gardens.
What is “good food” and who is growing it?
The concept of “good food” needs to be redefined. Just Food’s concept of good food refers to food that is fresh or minimally processed, accessible, culturally relevant, as local as possible and affordable, not just for the buyer—but also financially viable for the farmer to grow. According to Just Food, good food is also ecologically grown in a way that replenishes the soil from which it comes.
The organization is also encouraging audiences to re-think their idea of the typical farmer. The average age of a farmer in Canada is 55+ and many farmers do not have a succession plan. At the same time, local food demand is rising above supply.
The range of new farmers will include new Canadians; young people who grew up on the farm but have moved into the city and want to continue farming on a part-time basis; young people who do not come from a farming background and people who are interested in getting involved in farming as a second career and others.
How can we make farming sustainable?
A significant focus for Just Food is incorporating sustainable practices into the farming model. To this end, the organization has turned its farm in Ottawa into a demonstration site showcasing sustainable farming practices such as using solar energy. The solar project is a joint initiative between Bullfrog, Beau’s Brewery (a Bullfrog customer) and Just Food, whereby Bullfrog and Beau’s provided funding for the project. In addition to powering the site and reducing its electricity costs, the solar project has become a legacy project educating visitors on ways renewable energy and farming can complement each other. “I want to thank Bullfrog Power and Beau’s Brewery for their initiative and creativity as a partner to ensure the overall project could happen, all powered by solar,” said Garahan. “They were the first ones in on this legacy project which will have a massive impact in our region, with the added goal to encourage further sustainable, regional food systems work across the province and country.”
To date, Bullfrog Power customers have supported more than 140 community-based green energy projects across Canada—including solar projects on schools and community co-ops and renewable projects with Indigenous Peoples.
Presented by Noel Padilla, Manager, Sustainability Policy and Social Responsibility at OLG, presenting sponsor of the Sustainability Snapshot event.
In Padilla’s closing remarks, he stressed that corporations need to take action on the environment because consumers are now demanding a response from companies more than ever. OLG is seeing the results from its sustainability plan: the organization has reduced its power emissions by approximately 19,000 tonnes over a period of eight years and it has reduced its paper use by 27%. OLG has been a Bullfrog Power customer since 2008 and now chooses 100% green electricity for its PlaySmart and Prize Centres, digital signage and websites.
By choosing green energy for your company, you can reduce your carbon footprint, support the development of community-based green energy projects across Canada and set your brand apart in the marketplace. To learn more about green energy for your organization, visit bullfrogpower.com.
Want to contribute to the conversation? Share your thoughts and ideas on sustainable food supply or agriculture by contacting us today. We would love to feature your story in an upcoming white paper or e-communication. Contact business@


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Plastic-eating-bacteria – BRICS 25-04-2023 - Arhive
Plastic-eating-bacteria – BRICS
Crude Oil Prices Trend
-Plastic-eating bacteria are amazing. But they aren’t going to save the planet
Every so often, a new study about plastic-eating bacteria gets published in a scientific journal. Shortly thereafter, it flashes across the internet as it gets picked up by a flurry of environmental blogs, science and tech websites, and even national news outlets. But no matter what scientists may have discovered in this particular study, the stories you see in the media always seem to take the same spin: some variation of “these new plastic-eating bacteria will help us save the world from plastic pollution!”
Now don’t get me wrong – that’s an extremely exciting prospect, and it’s easy to see why that angle resonates with readers. But it’s also disingenuous to the point of being problematic. Plastic-eating-bacteria – BRICS
I hate to be the bearer of bad news, but plastic-degrading bacteria aren’t going to save the planet. They are an amazing discovery that, unfortunately, isn’t likely to make a significant dent in Earth’s pollution problem anytime soon – and definitely isn’t going to save us from the impending climate catastrophe.
Here’s why plastic-eating bacteria aren’t the silver bullet that most headlines seem to suggest they are.
Off the rails on a crazy strain
Perhaps the most significant reason that plastic-eating bacteria haven’t rid the world of plastic pollution yet (and probably won’t do so in your lifetime) is that we’ve only identified a small handful that can significantly degrade plastic.
Arguably the most well-known and widely publicized one is Ideonella sakaiensis, a strain of bacteria that was discovered in 2016 in soil samples taken outside of a plastic bottle recycling facility in Japan. Ideonella is exciting because it’s particularly adept at breaking down polyethylene terephthalate (PET) – the plastic we use to make things like plastic bottles and synthetic fleece. In the right conditions, scientists have shown that these microbes can fully degrade PET in about six weeks. Plastic-eating-bacteria – BRICS
But despite how promising this might sound, it’s important to understand that Ideonella is just one microbe that eats one type of plastic – and there are thousands of different plastics in the world. PET only accounts for a small fraction of global plastic waste.
-BRICS: Reshaping the Global Economic and Political Order
The BRICS term refers to a group of five nations, namely Brazil, Russia, India, China, and South Africa. The first summit of this alliance in 2009 sparked debates on its geopolitical and geo-economic significance. The political pundits view it as a new political world order and a shift in power from the ‘Global North’ to the ‘Global South’. The member nations account for almost half of the world’s population and reports suggest that their combined Gross Domestic Product (GDP) is 31.5%, surpassing the G7’s contribution of 30.7%. Despite their differences in political, economic, and cultural spares, BRICS countries have launched the New Development Bank with seed money of $50 billion to boost their greater integration and strengthen their position in the international arena.
Initially, BRICS was recognized as a forward-thinking economic forum, but its focus shifted after the Russia-Ukraine conflict. Plastic-eating-bacteria – BRICS
The forum is now pointing out critical matters such as trade, finance, climate change, and energy security, and its impact extends to shaping the global economic landscape. As a result, it is going to challenge the dominance of Western-backed the World Bank and the International Monetary Fund (IMF).
The magic bone for BRICS to bring them together is its diversity. Each member country brings a unique set of economic and political landscapes to the forum, which has created a rich tapestry of interests and perspectives. For example, Brazil is a major agricultural exporter, while Russia is a leading energy exporter. India is an emerging economic power which has a large and growing middle class, while China is a global economic and manufacturing superpower. South Africa, meanwhile, is a leading player in the mining industry. This diversity has strengthened BRICS to explore its resources and expertise to pursue the shared challenges of its own development path. Plastic-eating-bacteria – BRICS
BRICS is also an outcome of challenging the monopoly and questioning the legitimacy of existing West-backed monetary Institutions and frameworks. The IMF and World Bank were established after World War II to dominate global trade and market access by the West. These Institutions are facing criticism globally. It works as an expansion tool for the ‘Global North’ by considering political concerns rather than an acute crisis for loan facilities. Even nowadays, they use democracy and Human Rights as a fig leaf to masquerade the Western political agenda. However, BRICS has sought to establish new trading relationships and agreements outside the Western-dominated system, which will curtail the advantages of the West’s so long-enjoyed trade agreements and market access. BRICS has the potential to help poorer countries as it does not pursue any political agenda nor indirectly manipulate and control local economics. Moreover, NDB and Asian Infrastructure Investment Bank(AIIB) are more reflective of their priorities to represent the interests of emerging economies. Plastic-eating-bacteria – BRICS
Western Monopoly in geopolitics, the recently Russia-Ukraine war has exposed the necessity of massive expansion in BRICS. The success of BRICS has made other economic giants like Argentina, UAE, Saudi Arabia, Algeria, and Mexico interested to invest in this bloc. Recently, some Western countries are going through a tremendous economic crisis.
-Polyolefins yield to lower costs and weak demand
In March, polyolefin prices more or less mirrored the rise in ethylene and propylene costs, although the rise did not always match the increase in monomer. LDPE prices increased by just €10/tonne compared to the €30/tonne rise in ethylene costs largely because of weak demand. LLDPE prices, on the other hand, increased in line with the monomer cost rise because of reduced availability. HDPE prices increased by just less than the €30/tonne rise in the ethylene reference price. PP producers attempted to pass on the €30/tonne increase in propylene costs but their efforts were largely unsuccessful with deals also settling on average at just less than the increase in monomer.
PVC producers attempted to factor in the proportionate €15/tonne rise in the cost of ethylene. Base PVC prices, in most cases, were however rolled over from the previous month because of ongoing demand weakness. Polystyrene prices fell by €80-90/tonne, which was less than the €113/tonne reduction for the styrene monomer reference price. Bottle-grade PET prices began to stabilise and were largely unchanged from the previous month. Plastic-eating-bacteria – BRICS
In April, polyolefin prices turned downward following a decline of €40/tonne for both the C2 and C3 contract prices. Base PVC prices fell by more than the proportionate €20/tonne impact of the lower ethylene on the PVC cost base because of ongoing demand weakness. Polystyrene prices increased on average by €10/tonne following a rise of €19/tonne for the styrene monomer reference price. PET prices firmed slightly because of higher import prices and an upturn in seasonal demand.
There was sufficient material available across all polymer classes to meet demand during the last two months despite production curbs and a series of planned and unplanned plant outages.
A summary of selected production issues for European polymer plants are summarised below.
- The LyondellBasell cracker at Berne, France was shut down 3rd April due to a fire
- The Ineos PP plant at Lavera, France was taken offline 6th April and force majeure was declared due to strikes. The plant was restarted as of 13th April while force majeure remained in place
- Kem One declared force majeure on PVC output from Balan, France on 23rd March due to VCM issues stemming from strikes. Force majeure was lifted on 14th April
- Borealis shut down PP production plants in Belgium on 28th March with restart to be announced
- Repsol Quimica shut down its styrene plant in Spain on 30th March with restart to be announced Plastic-eating-bacteria – BRICS
- TotalEnergies declared force majeure on 20th March for polystyrene, citing supply restrictions due to the escalating nationwide strikes.
Demand remained below what would normally be expected at the time of year throughout the last two months. In March, converters bought just sufficient material to meet their immediate production needs as prices were expected to fall in April. The Easter break also put a dampener on demand in early April. There has however been a small upturn in seasonal demand during April across the agricultural, building and beverage sectors.
At the time of writing (mid-April) crude oil prices and spot monomer prices are rising, which could lead to higher monomer cost settlements in May. With the pressure from rising costs, polymer producers are likely to press for higher prices. Whether or not they can successfully pass through the higher costs will depend largely on demand. Perhaps, the low buying appetite in several end user markets will keep the volumes of demand at modest levels.In March, polyolefin prices more or less mirrored the rise in ethylene and propylene costs,
PET buyers were able to gain discounts of €40-50/tonne in early March but the market tightened as the month progressed. Paraxylene costs fell by less than anticipated (down €20/tonne) and Chinese imports became more expensive. Consequently, European PET prices began to stabilise and largely remained unchanged from the previous month.
Material availability improved slightly as production cutbacks were eased. Demand still remained below normal for the time of year despite an upturn in seasonal demand.
In April, bottle-grade PET prices are firming slightly because of higher import prices and higher demand. The European Commission has initiated an antidumping investigation on PET imports from China and regional buyers have been avoiding this origin as antidumping duty will be applicable on en-route cargos as well. Plastic-eating-bacteria – BRICS
Meanwhile, buying activity has improved in line with a normal seasonal demand upturn.
-Indorama Ventures remains committed to supply North American lithium-ion battery market
Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, is continuing to assess plans to build and operate a world-class lithium-ion battery solvents plant at one of its petrochemical facilities in the U.S. Gulf Coast, including sourcing new license partners to speed up the development of the technology, said the company.
Indorama Ventures’ Integrated Oxides & Derivatives (IOD) business segment is exploring licensing opportunities with a range of technology partners, after withdrawing from an initial non-binding agreement with Capchem Technology USA Inc.
Entering the lithium-ion battery market will reinforce the company’s downstream specialty products portfolio, serving attractive end-market applications.
Indorama Ventures is leveraging its global integrated petrochemicals model by investing in adjacent businesses that offer High Value Add (HVA) products that contribute to a more sustainable world. Plastic-eating-bacteria – BRICS
Alastair Port, Executive President, Integrated Oxides and Derivatives (IOD), IVL, said, “The EV market is a significant opportunity for Indorama Ventures to leverage our world-class petrochemical assets in the U.S. Gulf Coast, which are ready to host a new world-class lithium-ion battery solvents plant. From our base near Houston, our Integrated Oxides & Derivatives business has a successful track record of working with technology license partners to benefit the high-growth North American market.”
-Asia likely to see disinflation in coming months: Nomura report
- Asia is likely to see disinflation in the coming months, driven by weaker underlying inflation momentum and helped by base effects, according to Japan-based global financial services group Nomura.
- Reasons include base effects, easing food and energy prices, no wage-price spiral, goods disinflation and likely moderation in services inflation.
Asia is likely to witness disinflation, or a slower pace of inflation, in the coming months, driven by weaker underlying inflation momentum and helped by base effects, according to Japan-based global financial services group Nomura’s Asia Economic Monthly.
By mid-year, inflation momentum, as measured on a month-on-month (MoM), seasonally-adjusted basis, should be closer to central bank targets in most economies following the monetary tightening phase last year, it said. Plastic-eating-bacteria – BRICS
Most Asian central banks are now in a policy pause phase and, if underlying inflation moderates accordingly, the window to monetary easing will open up later this year, it noted.
There are seven reasons why Nomura sees faster disinflation in Asia. First, Asia’s inflation is driven more by supply than demand-side factors. Lower oil and global food prices, abating currency depreciation pressures and the full normalisation of pandemic-driven supply chain bottlenecks point to easing supply-side pressures.
Nomura believes the lagged effects of these easing supply-side pressures will materialise in Asia’s inflation readings in coming months.
The second reason is base effects. Comparing this year’s inflation to last year’s high levels on a monthly basis gives rise to base effects that serve to dampen inflation in specific months.
The third is easing food and energy prices should lower headline and core inflation. In Asia’s emerging markets, food and fuel prices drive headline inflation and can spill into core inflation due to second-round effects. Lower food and energy prices should also curtail household inflation expectations. Plastic-eating-bacteria – BRICS
The fourth is no wage-price spiral in Asia. Wage spikes caused by mass layoffs and early retirements in the United States are not evident in Asia, where labour markets are less flexible.
Instead, wage growth is starting to moderate, even in economies with tight labour markets like Singapore. Export and manufacturing slowdowns should spill into a weaker labour market and exert downward pressure on wage growth, especially for open economies in the region, Nomura noted.
The fifth reason is goods disinflation. Weaker goods demand and softening input costs will likely result in a slower rise in prices of core goods.
The sisth is likely moderation in services inflation. The post-pandemic release of pent-up demand for services has been exhausted. Moderating wage growth should soothe services inflation. Plastic-eating-bacteria – BRICS
China’s unlikelihood to be a source of inflation is the last reason. China’s growth cycle is desynchronised from the rest of the world, and it is not a material source of inflation risk, either to itself or globally. China’s pent-up consumption demand from its reopening is likely to disappoint market expectations, the Nomura report added.
-Aluula Partners with University to Recycle UHMWPE Composites
Panels made with recycled polymer composites reportedly are 10 times stronger than panels molded from virgin resin.
Composite materials innovator Aluula, which uses a patented no-glue fusion process, has found a way to reuse its products to form panels 10 times stronger than those molded from virgin material.
In a preliminary trial with the University of British Columbia (UBC), end-of-life and off-cut Aluula composites were compressed into new, uniquely light and durable panels — without altering the original fibers made of ultra-high molecular weight polyethylene (UHMWPE).
Aluula, based in Victoria, BC, uses its proprietary method to fuse fibers and films at the molecular level. These components exhibit eight times the strength-to-weight ratio of steel while remaining lighter than nylon, polyester, or aramid. Plastic-eating-bacteria – BRICS
The new panels, created jointly with the Composites Research Network at UBC Vancouver, are intended for multiple recycling iterations. Ideal applications will be those that require strength, abrasion resistance, and low friction — items like backpack back panels and low-friction wear plates.
“Working with UBC students on applications for these ultra-strong and ultra-durable products is proving to be invaluable as we refine our processes to ensure the recyclability of Aluula materials,” said Aluula Composites Material Scientist Sam White.
Reuse of polymer composites is particularly important, Aluula explained, because the amount of waste they generate is expected to reach 683,000 tons a year by 2025 — the equivalent of 785 swimming pools filled with composite waste.
Aluula’s Durlyte, Gold, and Graflyte products exhibit a range of benefits, including resistance to water, UV damage, and bacterial growth.
The company’s materials have been used in wind sports, aerospace, outdoor, and sailing applications. Plastic-eating-bacteria – BRICS
-Recycling plastic can be a little confusing. Here’s what the numbers inside the recycling symbol mean
- Plastics labeled with a number 1 inside the recycling symbol are about 20.9% likely to be reprocessed, according to Greenpeace.
- Plastics numbered 3 through 7 have a reprocessing rate of less than 5%, according to the Greenpeace report.
Only 4.7% of plastic produced by U.S. households in 2021 was recycled, according to a Greenpeace USA report.
But that’s not for lack of consumer participation. Greenpeace said most plastics simply cannot be recycled in the U.S., and since China has increased its standards for accepting recyclables, less plastic is getting reprocessed. Plastic-eating-bacteria – BRICS
In honor of Earth Day, here’s what you should know about the different types of plastics and which ones are likely to be reprocessed.
There are seven different types of plastics in consumer products, two of which are considered the most recyclable: PET, represented by the number 1 inside the recycling symbol, and HDPE, represented by the number 2.
Plastics labeled with a number 1 are about 20.9% likely to be reprocessed, according to the Greenpeace report.
These typically include soda bottles, peanut butter jars and other types of clear plastics. PET stands for polyethylene terephthalate.
Greenpeace found that plastics with the number 2 inside the symbol are half as likely as number 1 to be reprocessed, at 10.3%.
Examples of HDPE, which stands for high-density polyethylene, include laundry detergent bottles, shampoo bottles and other types of solid-colored plastics.
After that, plastics numbered 3 through 7 have a reprocessing rate of less than 5%, according to the Greenpeace report.
It is still important to know the difference between the types of plastics, since municipalities handle each type of plastic differently.
Plastics labeled number 3 are polyvinyl chloride, which is used to make items such as vinyl records and PVC pipes, according to the New York State Department of Environmental Conservation. Plastic-eating-bacteria – BRICS
LDPE, or low-density polyethylene, is labeled with the number 4 and can be used to make bread bags, bubble wrap, cling wrap and more. This type of plastic film is often collected separately from plastics labeled 1 and 2. In New York City, for example, large grocery stores are required to have a collection bin for these types of plastics, which should not be collected in curbside recycling bins.
Plastics labeled number 5 are polypropylene, or PP, which can be used to make yogurt containers and other dairy product tubs, according to the conservation department.

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TOKYO: Asian factory activity grew in November as crippling supply bottlenecks eased, but rising input costs and renewed weakness in China dampened the region's prospects for an early, sustained recovery from pandemic paralysis.
BEIJING: Profits at China's industrial firms grew at a faster pace in October, the statistics bureau said on Saturday, providing a buffer for a faltering economy battered by soaring raw material prices.
SINGAPORE: Asia's spot crude market has peaked after touching near two-year highs this week, as a possible release of oil reserves from top consumers globally dented sentiment and weighed on prices, trade sources said.
BEIJING: China’s tight energy supply situation will gradually ease this winter and next spring following the government’s intensified efforts to boost coal supplies and cool skyrocketing prices amid a power crunch in some parts of the nation, industry experts say.
A problem which had plagued businesses during the lockdown, supply chain disruptions are gradually easing although effects such as inflation are being felt in many areas.
NEW DELHI: India showed more signs of a recovery taking hold last month as its consumption-driving festive season kicked off, keeping it on track to regain the title of the world’s fastest-growing major economy.
BEIJING: Profits at China’s industrial firms rose at a faster pace in September despite surging prices and supply bottlenecks, thanks mainly to stellar growth in mining and raw materials industries although some businesses struggled to shake off the high costs.
CHANGSHA: China is showing its determination to help bring the global economy back on track and make continuous contributions to global economic security and sustainable development, according to officials, entrepreneurs and experts at a global forum held in Changsha, the capital of Central China’s Hunan province.
SEOUL: Strong gains in South Korea’s exports this month suggest global demand is holding up despite headwinds from supply chain snags and an energy crunch disrupting Chinese production.


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Trendy Fashion Buys Reimbursed as "Office Supplies" to RNC Finance Officials
At the Republican National Committee, the term "office supplies" seems to have taken on a whole new meaning. If you take its recent filings with the Federal Election Commission at face value, the RNC, it seems, requires thousands of dollars worth of pricey clothing and more than a splash of booze to run its office.
Listed on the report in the category of "office supplies" are purchases from a New England winery and a Capitol Hill liquor store, as well as more than $3,800 from a Florida clothing store. The category of "meals" also seems to extend to the sartorial, with a $450 purchase from a high-end Manhattan boutique -- one that has no restaurant or take-out shop on the premises -- falling into that category, as listed on the RNC's reports to the FEC. That purchase, as well as one for more than $500 from the Florida clothing store, are attributed to RNC Deputy Finance Director Debbie LeHardy, who, according to the report, was reimbursed for them.
LeHardy also received reimbursement for more than $2,800 in "tips" between December 2009 and February 2010, according to the reports.
Even before news broke this week that the Republican National Committee spent nearly $2,000 at a bondage-themed Hollywood strip bar, RNC Chairman Michael Steele had been sharply criticized for extravagant spending. AlterNet's review of RNC campaign finance records suggests a pattern of reporting irregularities within an institutional culture of over-the-top extravagance.
In February, as the RNC's finance chiefs gathered in Boca Grande, Florida, for their Finance Leadership Meeting -- the meeting at which the RNC's "fear" strategy for donors was revealed in a telling PowerPoint presentation -- the RNC made purchases totaling $3817 at Fugate's. On its report, the RNC labels the purchase as "office supplies," but Fugate's general manager Nancy Blank says her store doesn't sell office supplies. Fugate's sells men's and women's clothing and accessories, Blank told AlterNet. "We're a specialty department store," she said.
Of that total LeHardy, the RNC deputy finance director, received direct reimbursement for $513. The rest was a separate purchase made the next day, and billed to an RNC American Express account. The name of the AmEx cardholder is not listed on the FEC report. My calls for comment to the RNC and to LeHardy were not returned as of press time.
Records also show that LeHardy received reimbursement for $282 spent at Boca Grande Outfitters, which bills itself as "the area's most complete saltwater fly fishing and light tackle outfitter." The report designates the reimbursement for "meals." Aaron Sutcliffe, a clerk at BGO, said the store doesn't sell food.
In December, RNC reimbursed LeHardy for $453 worth of "meals" from Henri Bendel, a posh boutique on New York's Fifth Avenue. Bendel's is an upscale source for costume jewelery, handbags and make-up. The store bills itself as a "Girls' Playground for trendsetting young women from around the world."
"[W]e do not have a restaurant in the store so I don't know how she would have spent $450 on meals," spokesperson Jodi Mellman wrote in an e-mail.
LeHardy was also reimbursed for over $1852 in "tips" for unspecified services obtained during December, and an additional $966 for the February meeting in Florida.
The RNC told the FEC that it spent $982 of its donors' money on "office supplies" from the Boyden Valley Winery last December. "We do not sell office supplies; we are a legal winery operating since 1991 in Cambridge, Vermont," co-owner Linda Boyden told AlterNet.
Between December and February, the RNC bought over $700 worth of so-called "office supplies" from Congressional Liquors, a booze and sandwich shop on Washington, D.C.'s Capitol Hill.
Campaign finance experts told AlterNet that political parties have broad latitude to decide for themselves what a legitimate political expense, as long as the outlays are plausibly related to a campaign. Office supplies are a pretty broad category, but in the case of the winery expenditure, the RNC appears to be pushing the limit.
"Liquor is not what a reasonable person would understand an office supply," according to Meredith McGehee, policy director at the Campaign Legal Center. She noted that there are some exceptions: For example, booze for an office Christmas party might legitimately be counted as an office supply.
The FEC Web site states that when an individual is being reimbursed for "office supplies," the party is expected to describe what sort of office supply was purchased if it's not apparent by virtue of the type of vendor from which the purchase was made.
It's not clear why the RNC would be buying "girlish" accessories or fishing outfits, whether as office supplies or not. The RNC has gotten into trouble for political spending on fashion before. During the 2008 presidential campaign, a national scandal erupted when the RNC was found to have spent over $150,000 on a wardrobe for vice presidential candidate Sarah Palin.
A certain degree of decadence is to be expected in an RNC expense report, considering that the committee specializes in raising money from very rich donors, who expect to be wooed in the style to which they are accustomed. And the RNC surely meets those expectations.
The committee's FEC reports are a litany of luxury hotels and elegant restaurants. While ordinary Americans struggle to make ends meet, RNC staffers are regularly bedding down at Spago Beverly Hills, the Ritz Carlton, the Four Seasons, and the Venetian in Las Vegas. Someone even ran up $5884 hotel bill across the pond at the Dorchester Hotel in London last November. Records show that staffers routinely drop hundreds of dollars at Charlie Palmer's Steak House, the Old Ebbitt Grill, and other premium eateries. However, the RNC's finance reports hint at deeper problem -- most notably the thousands of dollars in expenditures AlterNet found that appear to be misstated in campaign finance records.


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The Toronto International Film Festival, happening this week, features a number of innovative temporary retail installations that address the trend towards being experiential.
The heritage firearms brand has unveiled its first location in the country, retailing an impressive range at a variety of pricepoints.
A new Fashion Week kicks off a season of new store openings, as the Toronto neighbourhood transforms to become a global retail destination.
Trend: top car brands are now, more than ever, opening showrooms within Canada’s leading malls.
We've showcased North America's busiest retail centre, which is also one of its largest and most productive.


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Inspections have been stepped up at central markets as the country gears up to celebrate Eid this weekend.
Measures are being taken to ensure food prices remain stable and are not manipulated, it has been revealed.
This follows directives by Industry, Commerce and Tourism Minister Zayed Alzayani to ensure Eid Al Adha isn’t used as an excuse to manipulate prices.
“Inspectors have been visiting central markets on a daily basis for the past few months in the early hours of the morning as stocks of fresh produce are unloaded,” ministry assistant under-secretary for control and resources Abdulaziz Mohammed Al Ashraf said in a statement yesterday.
Prices are registered and stocks monitored.
“As Eid Al Adha approaches, demand increases for fresh fruits and vegetables and through continuous co-operation with the Capital Trustees Authority, we have increased inspection campaigns in preparation for this occasion.”
He revealed that the local Bahraini market is continuously providing a stable supply of fruit and vegetables.He also said any rise in prices was due to an increase in the price of the product in the country of origin.
“Efforts are on to remove any obstacles preventing the smooth import and sale of produce.”
People have been urged to call the hotline 80001700 to report any violations. They can also register through the National Suggestions and Complaints System ‘Tawasul’.
© Copyright 2020 www.gdnonline.com
Copyright 2020 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).


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GoPro is taking its video-adventure platform to Roku this spring in the form of a streaming channel, the two companies announced Thursday.
The channel will deliver GoPro mainstays like daredevil skiing videos and surfers riding huge waves around the world, as well as featured playlists, favorite video sections and tutorials on which GoPro products were used to “get the shot.”
GoPro currently has an extensive channel on YouTube as well as distribution partners in Xbox, LG and Virgin America.
“GoPro content is unique in that it emotionally resonates with a global audience,” said Adam Dornbusch, the company’s Head of Programming. “We are excited to bring the world of GoPro to Roku customers as they are one of the most engaged customer bases when it comes to the amount of streaming content they view.”
“We’re incredibly excited to bring the action-packed videos created by the GoPro community to the Roku streaming platform, said Ed Lee, vice president of content at Roku. “Roku delivers an experience that our customers truly love, and I know that they’re going to be captivated by the inspiring new content available to them with the launch of the GoPro channel this spring.”


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Hearing Focuses on Proposed COPPA Changes
PRIVACY LAW—U.S.October 6, 2011
Lawmakers at yesterday's subcommittee hearing on proposed changes to the Children's Online Privacy Protection Act (COPPA) rule weren't shy about identifying their stake in the outcome: their children and grandchildren are growing up online. The Federal Trade Commission began a review of COPPA last year and will accept comments until November 28. This Daily Dashboard exclusive features comments from lawmakers and experts at the hearing who agree that COPPA has been essential in protecting children's online safety since its inception in 1998 but have concerns about the proposed changes' potential impact on industry, the feasibility of eliminating the "e-mail plus" method of parental consent and how to protect children over the age of 13.


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In commemoration of its 30th anniversary, Nike takes a look back at the history of the iconic Dunk sneakers and how its demonstrated a staying power, that few other sneaker silhouettes can outmatch. The sneaker’s simple and time silhouette made it one of the mist successful selling sneakers for basketball players, skateboarders and sneakerheads since its 1985 release. Check out the full article here.
Nike celebrates 30 years of the iconic Nike Dunk sneaker. To date, what’s your favorite dunk release?


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Goafest 2024 – South Asia’s Premier Ad Festival to be held from 29th-31st May 2024
Mumbai, January 24, 2024: The 17th edition of Goafest, the biggest advertising festival in South Asia, is set to captivate the industry from the 29th to the 31st of May 2024 at the Grand Hyatt, Bambolim, Goa. Co-hosted by The Advertising Agencies Association of India (AAAI) and The Advertising Club, Goafest 2024 promises to be an exhilarating three-day extravaganza, showcasing the pinnacle of creativity, knowledge, and networking in the advertising, marketing, and media industry.
Drawing over 2000 industry professionals annually, Goafest has established itself as the definitive festival for the advertising and marketing industry. Anticipating increased participation from advertisers, Goafest 2024 is committed to offering an unparalleled platform for learning, recognition, and celebration.
Prasanth Kumar, President of the Advertising Agencies Association of India and CEO of GroupM, South Asia said “Goafest has firmly established itself as the pinnacle of creative celebrations in South Asia, uniting the foremost talents in the creative and marketing realms. Our goal is to offer our industry peers an immersive experience over three days filled with learning, meaningful engagement, interactivity, and curiosity.”
Rana Barua, Group CEO of Havas India, South East, and North Asia, and President of The Advertising Club, underscored the pivotal role of industry celebration, expressing, “Every year, The ABBY One Show Awards at Goafest stand as a testament to the biggest and most prestigious awards in the Indian advertising industry, celebrating innovative and groundbreaking ideas. Once again, I invite the brilliant minds of Indian advertising to join the celebrations and embark on an exciting journey at Goafest 2024, where creativity takes the spotlight.”
Jaideep Gandhi, Chairperson of Goafest 2024, emphasized the continuous evolution and innovation of the festival, stating, “Persistently, Goafest has progressed and pioneered, solidifying its status as the foremost advertising festival in India. From insightful knowledge-sharing sessions to featuring distinguished speakers, we are confident in welcoming global guests who will significantly contribute to the industry, particularly benefitting younger professionals. I would also like to mention that Mr. Mohit Joshi, CEO of Havas Media has very kindly agreed to join me as Co-Chair and contribute immensely to take this event to greater heights.”


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Digital payment apps that allow you to pay for things with a touch of a button on your phone have became even more popular during the pandemic. But both fraud and consumer protection experts tell News5 we're also seeing more complaints about them and it's something we should be aware of.
Fraudsters want you to pay them on these digital platforms because in many cases right after you pay they can drain the money immediately and it's gone. One of the reasons fraudsters have been looking to utilize these platforms in their schemes is because there are so many new and unsuspecting users.
"So as we went through the pandemic we realized for safety reasons touchless payment was a great option. So people who wouldn't even consider cash app platforms were using these," said CSU Global's "Dr. Fraud" J. Michael Skiba.
The U.S. Public Interest Group recently released a report examining these digital payment app complaints. It shows more than 5200 complaints from mid-2020 to mid-2021. In April of this year alone there were 970. That's almost double the previous complaint peak in July of 2020.
The most common issues are problems managing accounts, problems with fraud or scams, or problems with transactions.
"People are complaining, not just once they're complaining for weeks or months at a time and they're getting no result," said Senior Director of Federal Consumer Programs at U.S PIRG Ed Mierzwinski.
Fraud experts say these digital payment apps were never meant for paying people you don't know.
"Let's say someone from an office makes a Starbucks run and comes back to the office and people hand out their $2 or $5, this is a virtual way to do that. It's a virtual way to share money with friends and family. That's really what it was designed for. It's not really designed for a transaction of goods or services," said Skiba.
"A big problem with the scammers and the Apps is that when you initiate the transaction and send the money to the bad guy it's not an unauthorized charge under the act Congress should fix that,"said Mierzwinski.
Security experts for the major payment apps are providing these warnings:
- You should only send money to people you know and trust
- Watch out and question any unexpected requests
- Set your privacy settings to the most private (which isn't the default)
- Double check usernames before sending any money
"These platforms are continuing to grow at an incredible rate and consumers should really be wary and forewarned and really put up their guard anytime they're asked to used this platform outside of friends and family," said Skiba.
One of the most common ways fraudsters will use digital payment apps as part of their schemes is to send phishing emails or text messages posing as these companies. They're hoping you will give up sensitive information or even credentials to access your accounts.
To report complaints about a digital payment app you are using visit:
To report scams and fraud visit:


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April 29, 2013
People Magazine recently named Gwyneth Paltrow 2013's "World's Most Beautiful Woman" and that set off a debate frenzy as to whether the actress deserved such a title. Even Paltrow herself has been quoted as saying that while she's honored, it's obviously not true.
Still, we're more interested in where a woman with such a high honor go for a little R&R? Especially now after that much publicity. Well, we're happy to say she's a fan of some of our favorite places!
Viceroy Sugar Beach, St. Lucia
Read entire article on Hotel Chatter
Paltrow visited the newly renamed and rebranded resort (it used to be Jalousie) with her children, Apple, 8, and Moses, 6. She wrote on her lifestyle website


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April 23, 2022
Yahoo News recently published insight featuring Bin Gu, Professor of Information Systems, discussing how companies monitor and interact with online reviews.
The article addresses growing concerns among consumers that their online product reviews are being suppressed. It explains how companies are going out of their way to hide or “moderate” negative reviews and promote positive reviews.
For example, the clothier Fashion Nova was found to have suppressed hundreds of bad reviews over a period of years and was fined $4.2 million by the FTC. The company used specific software that allowed 4- and 5-star reviews to post automatically, while anything rating below was held back to be reviewed. Bin offers insight into why systems like these are perpetuated by online retailers:
“Many companies start with an honest agenda, which is to remove fake negative reviews… but when they do it, it becomes a slippery slope.”
- [Journal of Financial Reporting] Corporate Sustainability: A Model Uncertainty Analysis of Materiality
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- David ‘Big Papi’ Ortiz Visits Boston University’s Questrom School of Business
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- [CBS News Boston] Expert Says Gas Price Gouging Nearly Impossible in Current Market
- [CBS News Boston] Drivers Change Habits as Gas Prices Rise in Mass.
- Is Starbucks’s Wage Increase a Shortsighted Strategy? What Experts Say


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What Does the WHO Warning on Red and Processed Meat Mean?
In late October 2015 the cancer agency of the World Health Organisation, IARC, reported the results of a major study that investigated associations of cancer with the consumption of red meat or processed meat.
Here, in plain language, is the basis of the WHO warning – along with some no-hype expert views on what it means in terms of eating healthily.
Beef, veal, pork, lamb, mutton, horse, and goat
After thoroughly reviewing the accumulated scientific literature, the consumption of red meat was classified as ‘probably’ carcinogenic to humans. The ‘probably’ is based on limited evidence that the consumption of red meat causes cancer in humans and strong mechanistic evidence supporting a carcinogenic effect.
This association was observed mainly for colorectal cancer, but associations were also seen for pancreatic cancer and prostate cancer.
Meat that has been through salting, curing, fermentation, smoking, or other processes; may also contain, poultry, offal, or meat by-products such as blood.
Processed meat was classified as carcinogenic to humans. This classification is based on sufficient evidence in humans that the consumption of processed meat causes colorectal cancer.
The experts concluded that each 50 grams of processed meat eaten daily increases the risk of colorectal cancer by 18%.
What is 50 grams of processed Meat?
- One sausage, or two chipolatas
- One and a half rashers of back bacon
- Two hotdogs from a can
- Two to three slices of ham
“For an individual, the risk of developing colorectal cancer because of their consumption of processed meat remains small, but this risk increases with the amount of meat consumed,” said Dr Kurt Straif, head of the study.
What Does this Mean for Health?
Looks Pretty Bad on the Surface
The classification means that WHO now believes that there is as much evidence that processed meats are carcinogens as there is for tobacco and alcohol.
However, WHO does not assess that the products are equally harmful.
“These findings further support current public health recommendations to limit intake of meat,” said Dr Christopher Wild, Director of IARC.
“At the same time, red meat has nutritional value. Therefore, these results are important in enabling governments and international regulatory agencies to conduct risk assessments, in order to balance the risks and benefits of eating red meat and processed meat and to provide the best possible dietary recommendations.”
But No Need to Panic
Professor Tim Key, Cancer Research UK's epidemiologist at the University of Oxford, said:
"This decision doesn't mean you need to stop eating any red and processed meat. But if you eat lots of it you may want to think about cutting down. You could try having fish for your dinner rather than sausages, or choosing to have a bean salad for lunch over a BLT.”
"Eating a bacon bap every once in a while isn't going to do much harm - having a healthy diet is all about moderation. Overall red and processed meat cause fewer cases of cancer in the UK than some other lifestyle factors.”
What Does it Mean for Your Diet?
Eva Tornberg, professor of Food Technology at Lund University, thinks that WHO should have waited to issue their warning about the meats, because the statement was made based on purely epidemiological studies.
“Meat is a nutritious and non-allergenic food product, with high levels of protein as well high levels of necessary minerals and vitamin B. Making a serious statement like that about such a basic food product will perhaps make people no longer adhere to the warnings”, she said.
Professor Tornberg is currently working with a team at Lund University, conducting an EU-level research project which aims to minimise oxidation in processed meat products. This, according to their hypothesis, will lead to a reduction of colon cancer.
The project involves extracting antioxidants from plants and berries, and then preparing meat products with these antioxidants.
“If this hypothesis proves to be true, it will indicate that the risk of colon cancer can be reduced by eating a balanced diet – in other words, together with meat, eat lots of vegetables and other things that contain antioxidants. In short, the old ‘model plate’ diet could once again prove to be beneficial.”, said Professor Tornberg.
There’s nothing really new in the WHO results. Recommendations to limit processed and red meat for good health have been around for a long time.
Probably just as important is the balance of your diet: the quantity and proportion of fruit, vegetables, beans and whole grains included.
The majority of people in the UK do not eat the recommended 5 daily portions of fruit and vegetables. Both are packed with antioxidants and fibre – both have a positive association with protection against cancer and good gut health.
It will be very interesting to see the results of Professor Tornberg’s study, we’ll keep you posted.
You can keep track of how your healthy eating plan is going, with the Weight Loss Resources online food diary. Try it free for 24 hours.
Related Articles in Weight Loss Resources
- What Happens to My Body When I Give Up Meat
- Healthy Eating Plan Basics
- Stay Full Of Beans for Longer and Lose Weight
- Fruit and Vegetables in a Weight Loss Diet
References and Resources
- International Agency for Research on Cancer: IARC Monographs evaluate consumption of red meat and processed meat
- Lund University: Sausages with antioxidants from berries to prevent cancer
- Cancer Research UK: Processed Meat and Cancer – What You Need to Know
- The Lancet (Oncology): Carcinogenicity of consumption of red and processed meat


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Shares of Salesforce.com (CRM) are trading with losses of up to 6% in after hours trading on Thursday. The fast growing cloud computing and social enterprise company reported its second quarter results.
Second Quarter Results
Salesforce.com reported second quarter revenues of its fiscal year of 2013 of $732 million, up 34% on the year. Subscription and support revenues rose 35% to $687 million, while professional service revenues advanced 20% to $44 million. On average, analysts expected the company to report revenues of $728.2 million.
The company reported a GAAP net loss of $9.8 million, or $0.07 per share. Last year, the company lost $4.3 million, or $0.03 per share. Non-GAAP earnings, which exclude among others, stock based compensation and amortization of intangibles, came in at $0.42 per share. Non-GAAP earnings came in ahead of analysts consensus of $0.39 per share.
The company reported a 43% increase in "deferred" revenue to $1.34 billion. Unbilled deferred revenues only rose by a mere $100 million to $2.8 billion.
CEO and Chairman Marc Benioff commented on the results:
"Our second quarter revenue growth was outstanding at 34% in dollars and 37% in constant currency. Salesforce.com's social enterprise strategy is enabling companies to connect with customers, partner, and employees in completely new ways - and it's creating new opportunities for their growth and ours."
The Americas remain the most important geographic area for the company. Revenues rose 38% on the year to $508.0 million. Noticeable was the strong revenue growth in Europe. Revenues grew 40% on the year to $124.6 million. In comparison, year-on-year growth in the first quarter came in at 33% for the continent. Asia-Pacific revenues were up 28% to $99.1 million.
For the third quarter of its fiscal 2013, Salesforce.com anticipates revenues of $773-$777 million, up 32-33% on the year. On a GAAP basis, it expects to lose between $0.26-$0.27 per share, while non-GAAP earnings are expected to come in between $0.31-$0.32.
The non-GAAP earnings outlook fell short of analysts expectations of $0.34 per share, while revenues came in slightly ahead of the $772 million consensus.
For the full year of its fiscal 2013, the company anticipates revenues of $3.025-$3.035 billion, up 33-34% on the year. GAAP net losses are expected to come in between $0.72 and $0.75 per share. Non-GAAP earnings are anticipated at $1.48-$1.51 per share. For the full year, Salesforce.com expects to spend $382 million in stock-based compensation. Furthermore, amortization expenses of intangibles related to past acquisitions are expected to come in at $95 million.
Salesforce.com ended its second quarter with $1.8 billion in cash, equivalents and marketable securities. The company operates without any meaningful debt. It does however have roughly $0.5 billion in convertible notes outstanding. For the first six months of 2012, Salesforce.com generated revenues of $1.34 billion. It net lost $29 million, or $0.21 per share.
Factoring in a 6% decline in after hours trading, the market values the firm at $19 billion. Excluding the net cash position of $1.8 billion, this values the operating assets at roughly $17 billion. Based on the company's full year outlook, Salesforce.com is valued at 5.6 times annual revenues, and almost 100 times non-GAAP earnings. On a GAAP basis, the company is expected to lose a lot of money.
Year to date, shares of Salesforce.com trade with gains of almost 40%. Shares drifted from $100 at the start of the year to peak at $160 during spring. Shares hit a low of $120 during the summer months, but recovered, now trading around the $140 mark.
Over the past five years, shares have risen over 250%. The company aggressively grew its revenues from $1.1 billion for 2008 to an expected $3.0 billion in 2012. At the same time, profitability remained under pressure. Salesforce.com earned $43 million in 2008, or $0.35 per share. For 2012, it is expected to lose roughly $100 million or $0.72-$0.75 per share, on a GAAP basis.
While the growth is impressive, it is in large part the result of a string of acquisitions. In 2012 alone, Salesforce.com acquired Stypi, Buddy Media, ChoicePass, Thinkfuse and GoInstant. The $689 million acquisition of Buddy Media was the largest in the company's history. Furthermore, valuations of acquisition targets are driven up as financially stronger competitors, Oracle (ORCL) and SAP AG (SAP), have announced their ambitions in the cloud-based industry.
In May, I already took a look at the prospects of Salesforce.com. Trading around the $133 level at the time, I concluded that I saw more room towards the downside than the upside. I remain skeptical of the valuation despite the impressive revenue growth figures. A premium revenue multiple and lack of operating profits, make me wary.
Today, I reiterate my stance seeing room for a correction towards $100 per share. The weak guidance and lack of GAAP earnings improvement is worrying.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.


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Wednesday, August 12, 2020
A year ago, a Tesla paper cost $ 211, during this time the price spiraled to almost $ 1,800. Since the beginning of the year alone, it has more than tripled. The announcement of a stock split is now providing further fantasy.
The US electric car maker Tesla has announced a share split. Shareholders are to receive four more share certificates as dividends for each paper, the company announced. This should enable more employees and investors to become shareholders. The procedure should take effect on August 31.
Since a stock split can increase the buying interest, offshoots reacted happily and drove the Tesla price up in after-hours trading by almost 6 percent to more than 1450 US dollars. At the regular close of trading on Tuesday, Tesla shares had cost $ 1,374.
The Tesla shares had recently rushed from one price record to the next. They have more than tripled their course since the beginning of the year. The electric car maker went public ten years ago. Tesla’s current market value is around $ 230 billion. For comparison: Daimler, BMW and VW together have a market value of around 145 billion euros.


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Postmates founder Bastian Lehmann’s new crypto startupwas flippantly teased out a number of weeks in the past, but now the stealth startup is sharing some info on its early funding, nevertheless there is not much info on what they are actually undertaking with that dollars.
Lehmann notes that the firm has raised a $23 million Sequence A from a16z with Marc Andreessen himself becoming a member of the startup’s board. Other backers in the round contain Sam Altman, Naval Ravikant, Andy McLoughlin, Jeff Clavier and Dan Romero, between others.
The startup is trying to keep things as vague as feasible on its web page and job listings with redacted graphics promising “consumer finance solutions for a switching web” and that they are “building protocols and infrastructure,” executing a thing “at the intersection of fiat and crypto.” It’s all publicly unclear, but buyers seem to be eager to toss some funds powering Lehmann right after Postmates’ $2.65 billion exit to Uber in mid-2020.
This round’s announcement will come at a tough time for the broader crypto marketplaces immediately after this previous week’s crash, which was brutal even by crypto benchmarks.
That strike is leaving a great deal of venture firms in a challenging spot and most likely questioning their motivation to the sector. This lack of volume, especially from progress corporations, could make scaling a crypto business a lot more tricky in the coming years if the sector is certainly on the cusp of a “crypto winter”. For repeat founders like Lehmann and ex-Meta government David Marcus who also introduced enterprise backing for his new crypto startup yesterday, these problems will obviously be considerably less pronounced.


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Audi is preparing to launch a hardcore RS5 version of its A5 cabriolet. The new model, spied here testing ahead of its official reveal later this year, uses the same 444bhp 4.2-litre V8 as the RS5 coupé.
The RS5 cabriolet will also feature the all-wheel drive quattro drivetrain and seven-speed dual-clutch gearbox from the coupé.
Expect a 0-62mph time of around 4.7sec and a top speed limited to 155mph.
The RS5 cabriolet will not be the last RS5 model Audi will reveal within the next 12 months. Insiders have also confirmed that there will be an RS5 version of the A5 Sportback, which will be primarily targeted at the North American market.
The decision to launch an RS5 Sportback also explains Audi’s decision not to launch a four-door RS4 saloon. The two models are considered to be too closely aligned to justify the development costs.


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March 21, 2019
WASHINGTON (Reuters) – A class action lawsuit filed against Hyatt Hotels Corp, Marriott International, Wyndham Hotel Group and two other companies accusing them of conspiring to not compete online as well as harming consumers, survived a motion to dismiss on Thursday.
Judge Rebecca Pallmeyer of the U.S. District Court for the Northern District of Illinois rebuffed a request by the hotel chains to toss out the suit.
The case, which was filed last year, alleges that Hyatt, Marriott, Wyndham, Hilton Domestic Operating Company and Six Continents Hotels, Inc agreed to not advertise against each other on online travel agencies, like Expedia.
Similarly, the lawsuit alleges, the companies stopped advertising against each other in search results.
Both of these changes came shortly after a 2014 conference.
“These allegations show, at best, that defendants had an opportunity to conspire; they do not support an inference that a conspiracy occurred,” Pallmeyer wrote in allowing the lawsuit to go forward.
Spokespeople for Hyatt, Hilton, Six Continents Hotel and Wyndham did not respond to requests for comment. A spokesman for Marriott declined to comment.
The lawsuit is similar to one that the Federal Trade Commission brought against the online seller 1-800 Contacts.
The FTC had accused the company of reaching agreements with other online contact lens retailers which required them to refrain from advertising to consumers who had searched online for 1-800 Contacts.
In exchange, 1-800 Contacts agreed to not advertise to people who searched for the rivals’ names.
(Reporting by Diane Bartz, editing by G Crosse)


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AT&T, Comcast and other internet service providers can continue to track every search you make and website you visit and sell that information to the highest bidder, under legislation recently signed by President Donald Trump.
That legislation, which reversed an Obama regulation, ought to alarm any American who ventures online – no matter their purpose or political persuasion. Now comes Assemblyman Ed Chau, a Democrat from Monterey Park, carrying a bill that for Californians would reverse the legislation and provide some privacy at a time when our privacy seems to be for sale.
Chau’s Assembly Bill 375 promises fundamental protections: Internet services providers would have to provide customers with a “clear and conspicuous” opportunity to agree to their information being used, disclosed or sold. You could revoke that permission at any time. Providers could not deny service if consumers refuse to sign away their right to privacy. And they could not charge customers more for failing to grant them access to their information.
The ACLU, Electronic Frontier Foundation, Common Sense Kids Action and Consumer Federation of California are among the bill’s supporters. So are we.
Joining Chau at a Capitol press conference Monday was Scott Jordan, a UC Irvine computer science professor and former Federal Communications Commission official, who listed some of the information internet service providers could glean: The sites you visit; whether those sites are related to your finances or health; what videos you watch; how often you visit certain sites; what time of day you visit them; how long you linger; what devices you use; what apps you download; where you are located.
Exactly what your information is worth is not clear. But AT&T might have provided a glimpse in 2015 when it offered in a few local markets to charge customers $30 a month for the privilege of anonymity in their internet use. That’d seem like a reasonable starting point.
Internet service providers say they have strict privacy policies and would not breach their customers’ trust. Similar promises and guarantees from other companies and industries have been oh so hard to keep, so forgive our skepticism. Instead, we prefer Chau’s AB 375.
Under President Barack Obama, the FCC approved a regulation that was to take effect in December requiring internet service providers get customer consent before selling personal information. The GOP-controlled Congress intervened before the regulation took effect, and unraveled it. Now providers can go back to profiting off your data – something we consider a breach of trust.
If Chau can get his bill past the formidable telecom lobby, the industry undoubtedly would sue, likely claiming federal law pre-empts any state law.
Rep. Marsha Blackburn, R-Tenn., last month introduced HR 2520, which goes by the oh-so-cute name “Balancing the Rights of Web Surfers Equally and Responsibly Act of 2017” (i.e., the BROWSER Act). Her legislation would bar states from taking action on their own. Given this Congress’s willingness to side with any industry over consumers, that provision is reason enough to oppose her bill.
Why propose something that will lead to an invasion of our privacy? She’s gotten $564,000 from the telecom industry, reports the Center for Responsive Politics.
People have a choice whether to have a Facebook profile or use Google as a browser. But hardly anyone can function in today’s society without access to the internet. That makes service providers akin to utilities; they provide service to anyone for a fee. But that service shouldn’t require anyone to give up their personal data – for free – in exchange for the right to use it.


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SnapOne, Inc. Expands Security App Offering in Russia Based on SnapOne’s Cloud App Platform. PRINCETON, N.J., Jan. 9, 2014 — SnapOne, Inc., a fast growing developer of cloud-service applications and underlying platform, announced the availability of its Russian language version of Snap Secure®, known as Data Safe, for feature phone subscribers in Russia. SnapOne, Inc. initially partnered in Russia with Beeline, a subsidiary of VimpelCom, the largest wireless operator in Eastern Europe, to build Data Safe for Android devices and has now expanded the offering to include Java ME and Nokia S60 feature phones.
More than 50 percent of mobile phone users in Russia use a feature phone, like the Java ME and Nokia S60 devices. Data Safe gives this audience access to comprehensive mobile security and protection in an increasingly dangerous cyber-environment. With Russia being the largest mobile market in Europe, this expansion also enables SnapOne, Inc. to further solidify its presence in the region.
“Feature phones are very popular in Russia and we are excited to offer their users this level of mobile protection,” said Jiren Parikh, president and CEO of SnapOne, Inc. “Plus, by expanding our service to feature phones, we’re learning even more about the country’s mobile-security threats and will continue to use the information to tailor our services.”
Data Safe is a cloud-service application that provides a broad range of protection and security for Android devices, and now feature phones. It allows Java ME and Nokia S60 users to back up and restore their contacts, calendars and notification lists. Nokia S60 users can also remotely locate their device on a map or with a loud audible sound, as well as lock and wipe their device in the event that the phone is stolen or lost. The application easily backs up and transfers contacts from a feature phone to a new device, making it the ideal tool to have in phone upgrade/replacement situations. Upcoming features include the ability to back up photo libraries.
Modeling the September 2013 Data Safe launch on Android devices (version 2.3 and above), the app will be marketed as a co-branded product and is available for download by Beeline subscribers. This continues a new business model for SnapOne, Inc. to reach consumers through a co-branded offering in partnership with leading mobile operators and service providers.
About SnapOne, Inc.
SnapOne, Inc. is a fast-growing developer of consumer and family cloud applications and underlying platform. The company’s Snap One®, Snap Secure®, Snap Sync™, Snap Play™ and Snap FamilySafe™ brands allow individuals and families to leverage the cloud with simple yet powerful applications for securing data, devices and people, and synchronizing streaming and managing their entire digital life across a broad range of devices. Its products and services are available globally through smartphone app stores, retailers and select channel partners as branded and co-branded offerings. SnapOne, Inc. is headquartered in Princeton, N.J. with offices located worldwide.
For more information, please visit www.snapone.com.


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SwiftKey is an app for Android smartphones that has been designed to speed up text entry by not only guessing the remaining letters in a word but also predicting the user's next word.
TouchType has now pushed out an update for the SwiftKey X and SwiftKey Tablet X apps, where their developers have been working to make the Fluency engine faster and more efficient.
This engine is the technology behind SwiftKey’s predictions, where the new software should take up less memory on the phone and get the best predictions and corrections even quicker.
There is also enhanced multi-touch framework in this release, which makes it easier for rapid typists to type even faster.
The update now adds Arabic and Hebrew to the list of supported languages, bringing the total to 35 where you can enable up to three languages at once and switch seamlessly between different layouts (e.g. English and Greek) simply by sliding the spacebar.
For the first time, TouchType has full language localisation for Spanish, French, German, Italian and Portuguese too.
Originally published at OneMobileRing.com


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DUBAI- The Dubai Multi-Commodities Centre, DMCC
, has confirmed that the development of its new 7,500 sq.m. DMCC Coffee Centre, close to Jebel Ali Port harbour, is underway, marked by a ceremony attended by the Chinese companies, Mega Capital Halal, MCH, and Yunnan State Farms Group.
The DMCC Coffee Centre, a temperature-controlled facility, will offer infrastructure and services for storage, processing, warehousing and delivery of coffee, to precise specifications.
Ahmed bin Sulayem, Executive Chairman of DMCC
, said, "There are few things more satisfactory than when a partnership of this scale with MCH and Yunnan State Farms comes to fruition, especially when it benefits our trading community here in Dubai as well as connecting right into China’s ambitious trade programme and corridor, the new Belt and Road. The Coffee Centre also marks an important milestone for DMCC
and Dubai, as once it is ready in 2018, we will be the first in the UAE with the capacity to handle up to 20,000 tonnes of green coffee beans at a value of up to US$100 million annually".
A report recently released by the International Coffee Organisation confirmed that global exports of coffee in the year 2016/17 increased by 4.8 percent to 122.45 million bags compared to 116.89 million bags in the previous year. The UAE sits at the centre of a region which now accounts for 8 percent of the trade, or US$6.5 billion of the US$85 billion global consumer spend on coffee. According to Euromonitor International, this could increase by up to a third by 2030.
Matthew Pang, Director of MCH, said, "Dubai is a key international gateway for trade as it connects the producing countries with the consumer as seamlessly as possible. DMCC comes with a strong track-record in enabling this process from infrastructure-build through to trade facilitation, and our partnership will no doubt bring a much consumed commodity to Dubai and beyond."
© Copyright Emirates News Agency (WAM) 2017.


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Brands are offering over-complicated services, report reveals.October 31, 2013 5:38 by Muhammad Aldalou
12 Awesome Google Doodles
Google’s special Olympic inspired interactive doodles are very addictive and have Kipp thoroughly amused. With that in mind we bring you 12 of Google’s best doodles to date.
August 8, 2012 2:06 by Jyothi M.V.
Gideon 132nd Birthday doodle – Google celebrated the 132nd birthday of the Swedish-American electrical engineer, who is synonymous with the development of the zipper, by creating a zipper on the google home page.
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The search engine giant s entry into — and quick exit from — financial services proves one thing: Even with all the data and insights in the world, customer value is not based solely on price or convenience.
They are more informed, empowered and connected, demanding complete control when making purchase decisions.
Regulations designed to protect consumers from privacy concerns, fraud, malpractice, conflicts of interest or lack of transparency have the unintended consequence of making it difficult to connect in new, more efficient ways.
And with more than 13,000 health and medical apps available on mobile devices and through wearables, mainstream medicine will have to integrate itself further with the online experience.
In government, agencies are pursuing and promoting approaches to communication that will lead to increased efficiency and citizen engagement.
Instead, financial services, healthcare, and government have the opportunity to use insights gleaned across both physical interactions and digital channels and consolidated in a unified manner to truly understand and best serve the unique individual — rather than those with shared characteristics.


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NCSoft has announced that City of Heroes: The Animal Pack will arrive later this month, it will be available for purchase from the NCSoft on February 23 for £5.99 or €8.99. With the help of the pack players will now be able to create their characters with the traits of the world’s most powerful beasts.
City of Heroes: The Animal Pack will consist of:
- 60 new Costume and Pattern
- 6 new emotes
- 2 new auras
- a new travel power called “Beast Run”.
The new power will enable gamers from level 4 onwards to run like a savage beast with the new Beast Run travel power, pouncing through the concrete jungles known as the Rogue Isles, Paragon City and Praetoria while stealthily stalking and attacking their prey at every turn.


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La Mesa is bringing back an authentic Oktoberfest, with a fresh focus on all things German, to its downtown.
The annual event, some complained, had lost its way since it began with plenty of oom-pah-pah and lederhosen more than 40 years ago. City officials say there will be less “street fair” offerings and more focus on local businesses to entertain the 100,000 or so revelers who attend annually.
Instead of sauerkraut, bratwurst and other things germane to Germany, the event had morphed into a street fair with sales of sunglasses and coffee table books alongside vendors hawking solar roofing.
La Mesa Oktoberfest’s longtime organizers — The La Mesa Merchants Association and La Mesa Chamber of Commerce — are no longer running the event. The Merchants Association for years was in charge of Oktoberfest, and up until last year, often partnered with the Chamber to run it.
But the association owes the city nearly $48,000 from the previous Oktoberfest. The Chamber cut Oktoberfest ties with the merchants after 2014 and started its own October celebration last year at Grossmont Center.
The Chamber paid the city for its part in the costs (for running the beer garden) during the 2014 Oktoberfest, but the merchants came up short on their end. The city allowed the merchants to make late payments to the city.
Additionally, the La Mesa City Council told city staff members earlier this year that the city itself should sponsor more civic events. It considered contracting with a private company to produce a rebranded Oktoberfest.
The City Council unanimously agreed last June 28 to hire EventWerks, LLC, a Special Event Producer and Promoter, to run this year’s event, slated for Sept. 30 through Oct. 2 on the east side of Spring Street in downtown La Mesa.
EventWerks will be paid $30,000 to produce the event, and the city and promoter will split equally net profits from sales of beverages and commemorative items. The city plans to recoup an estimated $60,000 for public safety needs at Oktoberfest in the agreement with EventWerks.
Cost to run the event is estimated near $147,000, including more than $12,000 for commemorative cups and $12,000 for beer.
EventWorks will introduce a new logo, will reach out more to La Mesa businesses, including local breweries and wineries in the city, and will incorporate authentic Oktoberfest decor, music, games, merchandise, food and beverages as part of the contract.
The company also manages the Orange County Oktoberfest, a six-weekend-long Lake Arrowhead Oktoberfest and other events, mostly in Orange County.
Mayor Mark Arapostathis said residents expressed a desire for a more authentic Oktoberfest, one more like El Cajon’s.
The German-American Societies has run El Cajon’s Oktoberfest for years. They charge $5 for admission and have the event over two weekends. La Mesa’s is still free to attend.
Only the beer garden will be open on Friday, with the rest of the street festival happening on Saturday and Sunday. One band will perform Friday and Sunday, two bands will play on Saturday.
Friday will feature an opening ceremony at the beer garden at Allison Avenue Municipal Parking lot. The beer garden will be open from 4 to 10 p.m.
The street festival will open from 10 a.m. until 10 p.m. Saturday and from 10 a.m. until 6 p.m. on Sunday. The festival will be on La Mesa Boulevard, from Spring Street to Fourth Street, on Palm Avenue north of La Mesa Boulevard and on Third Street south of La Mesa Boulevard.


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Few people have 4K ultra high definition televisions in their home yet, but that isn’t stopping Amazon, Comcast and a slew of other major content providers from offering up plans to offer significant amounts of 4K content coming later in the year.
The announcements came during a Samsung press conference held earlier today at the 2014 Consumer Electonics Show in Las Vegas.
According to Amazon, all original programming being shot by Amazon Instant Video in 2014 will be made available in Ultra HD. The company is also partnering with Discovery, Warner Bros. and Twentieth Century Fox Home Entertainment to offer other rich UHD content for owners of 4K and 4K-compatible TVs.
Amazon is far from the only company making waves with their 4K offerings, however. Cable provider Comcast is partnering with Samsung to offer an Xfinity TV 4K app capable of streaming a growing library of movies and television on demand. DirectTV and YouTube is also announcing plans to offer content in 4K at this year’s CES.
The lure of 4K TV, of course, is that it features 4 times the resolution of 1080p HDTVs currently on the market. Many 4K televisions still sport five-digit price tags, though a few budget options have made their way to the market.


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The health and safety of our team members and customers is our number one priority.
Effective August 25th per provincial health order, masks or face coverings are required by all team members and customers while in our stores in B.C. This is for the safety of our teams, our customers and our communities. We continue to follow the recommendations of our health authorities and consistent with their guidance have added signage in our stores requiring all customers and team members to wear face coverings.
- Masks or face coverings are required by all team members and customers while in our stores.
- Through the entire pandemic, we have followed the guidance of the provincial health officers and we will continue to rely on these experts.
- We will continue with our enhanced cleaning and sanitation protocols and continue to encourage all team members who are feeling ill to stay home.


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The Chinese ambassador in Guinea-Bissau said he hoped the China – Portuguese-speaking Countries Economic Forum, to be held from 9 to 11 April, in Bissau, will improve the economic development of the member countries.
Huang Wa spoke outside a working meeting with the Minister of Economy and Finance, Geraldo Martins, which discussed the state of economic and financial relations between Guinea-Bissau and the People’s Republic of China and how to develop them more.
The ambassador said that the Economic Forum, the first meeting of its kind in Guinea-Bissau, would increase the level of economic and trade relations between the countries and their respective private sectors.
Huang Wa stressed that, because of their economic and business importance, the governments of Guinea-Bissau and China and the Macau Special Administrative Region authorities were interested in promoting this meeting in April.
The coordinator of the newly established Technical Secretariat for preparing the meeting of businesspeople from China and the Community of Portuguese-speaking Countries (CPLP), Bruno Jauad said the country wants this meeting to attract Chinese direct investment in key sectors aimed at promoting national potential.
The meeting will be attended by official delegations and businesspeople from Angola, Brazil, Cabo Verde (Cape Verde), China, Guinea-Bissau, Macau, Mozambique, Portugal and Timor-Leste (East Timor).
The Forum for Economic and Trade Cooperation between China and Portuguese-Speaking Countries, also known as Forum Macau, was established in 2003 and aims to deepen economic and trade cooperation among the member countries. (macauhub/AO/BR/CN/CV/GW/MO/MZ/PT/TL)


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New York-based exchange Gemini recently released a State of Cryptocurrency 2021 report, noting that more than 50% of investors interested in cryptocurrency are women and that approximately 14% of the U.S. population (approximately 21.2 million) holds cryptocurrency.
Gemini released its State of Cryptocurrency 2021 report, providing several indicators of U.S. market trends. The survey polled 3,000 investors and consumers between October and November 2020.
In the introduction section, Gemini notes that the arrival of institutions and companies such as PayPal and MicroStrategy have brought crypto into the spotlight. The report states that investment activity by potential investors will increase and a wider demographic distribution is likely to occur.
Overall, the survey looked at the profile, popular assets, knowledge level and confidence of current and potential investors. Interestingly, more than 50% of respondents said they would like to learn more about cryptocurrencies.
Surprisingly, 53% of investors who are “curious about virtual currencies” are women. The average age of this group is 44 years old, compared to the current average age of 38 for investors. This unique statistic prompts Gemini to believe that the average cryptocurrency holder may soon look different.
Not surprisingly, the most popular age group in the cryptocurrency space is millennials, followed by Generation Z. The firm notes that 14% of the U.S. population owns cryptocurrencies, which is a very large number. This level of growth suggests that cryptocurrencies are on the cusp of a transition to mainstream currency.
Among ethnic groups, cryptocurrencies are most popular among Caucasians. However, both Hispanics and Asian Americans/Pacific (3.340, -0.02, -0.60%) Islanders are below 15%. This also shows a change in demographics.
There is some variation in the knowledge of crypto assets among investors and those interested in the market. 95% of respondents said they knew about bitcoin, but only 38% knew about ethereum.
After noting the average awareness of U.S. adults, Gemini said education is important to turn “crypto-curious consumers …… into true crypto holders” – something the company is also working on. -Sixty percent of those curious about cryptocurrencies say they don’t know much about them.
Bitcoin’s popularity stems from the fact that it has become synonymous with cryptocurrency. This oldest of cryptocurrencies has gained notoriety since its inception and has only now attracted widespread retail attention.
Unlike the 2017 bull market, the current one is backed by institutions and large companies. This gives it a certain legitimacy and retail investors have more confidence in it.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/21-2-million-americans-hold-cryptocurrency-pairs-and-52-of-investors-interested-in-cryptocurrency-are-women/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.


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Mobile payment company Square has acquired San Francisco-based food delivery startup, Caviar. The deal amount is still undisclosed by the companies but according to The New York Times reported on Friday that the deal, which was first reported by TechCrunch, will be valued at USD 90 million in stock.
Post this acquisition, Square deepens its commitment to providing independent sellers with services that make it easier for them to grow their business. According to Caviar’s Blog, ” Together we’ll double down our mission of delivering premium food through a premium delivery service with no compromises — giving buyers easy access to the food and restaurants they love so much.”
Founded in July 2012, Caviar is a venture of Co-Founders Shawn Tsao, Abel Lin, Richard Din, Andy Zhang and Jason Wang. It is a way for consumers and businesses to order food from local eateries with the ability to live-track the order on a map.
Currently, the company operates in cities including New York City, Seattle, Washington D.C., Los Angeles, and San Francisco and its services are used by 50,000 restaurants. The company’s order volume has grown more than 500 percent year over year, and 80 percent of its monthly deliveries are to repeat customers.
Till date, Caviar had secured a total funding of USD 15 million in two round of investments and is backed by seven investors. It consists of 14 employees in its current team.
“Caviar has made it easy for customers to get food delivered from some of the most popular, local restaurants in the country,” said Jason Wang, co-founder and CEO of Caviar. “With Square’s national scale and commitment to making commerce easy, we’ll be able to help buyers get food delivered from more of their favorite restaurants, while helping restaurants reach new customers and simplify their operations.”
Recently, Square also released inventory tracking, Offline Mode, and Square Order, a new way for customers to pre-order food and drinks for pickup. “Caviar’s curated, seamless delivery experience is exactly the kind of service we want to provide buyers and sellers,” said Jack Dorsey, CEO of Square. “By making delivery such a fast, friendly, and easy process, Caviar gives time back to restaurants so they can focus on what they do best — cooking great food for their customers.”
More from Caviar’s Blog: Two years later, we’ve served more than one million meals for hundreds of restaurants across six states. Our customers, restaurant partners, and couriers are the epicenter of what makes Caviar so special. Thank you. There’s so much more to do, and we’re just getting started.
It has been, and will continue to be, an incredible journey. Our ultimate vision aligns with Square’s: to provide local merchants with the best tools to grow and sustain their businesses. Delivery is no doubt an important component of helping a business drive additional revenue, and we’ll work hard to create new and exciting features for everyone.
To contact the author, email at email@example.com.


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Kebs probing Kinder Joy chocolates over health concerns
Italian candy maker Ferrero, which makes Kinder Joy chocolate is on notice in Kenya after some of its popular chocolate products
were withdrawn from supermarket shelves in European markets over health concerns.
Business Daily reported that samples of the products by the Italian firm sold in the Kenyan market would be tested by The Kenya Bureau of Standards (KEBS) for safety before a decision is taken on them.
“We shall take samples for the test to ascertain they are ok,” Kebs managing director Bernard Njiraini told Business Daily.
The European Authorities have recalled Ferrero’s products after the Kinder Surprise chocolate eggs were linked to a Salmonella outbreak in Europe, including Ireland, France, Germany, Sweden, and the Netherlands.
Salmonella is a bacterial infection that can cause gastroenteritis when it affects the gut. Symptoms include diarrhoea, stomach cramps, vomiting, and fever.
The UK’s food safety agency (FSA) advised consumers to avoid using certain batches of Kinder Surprise products.
It advised people not to eat 20g or three-pack eggs with best before dates between 11 July and 7 October 2022.
“We know that these particular products are popular with young children, especially as Easter approaches, so we would urge parents and guardians of children to check if any products already in their home are affected by this recall,” Tina Potter, FSA Head of Incidents, said in a statement.
No deaths have been reported, but according to the BBC, 63 salmonella cases have been reported among children aged five and under.