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Over the past week, we had come across teasers for new car models coming to the country. Additionally, we saw the unveiling of a new premium SUV as well as the launch of a new variant of a popular compact SUV. Read below to find out more about the top stories in India from the past week.
New facelift Kia Seltos spied in India again; design before leak
The upcoming Kia Seltos facelift has been spied on Indian roads ahead of its scheduled launch later this year. The new model will get a new set of cosmetic and feature upgrades over the current version. Mechanically, the Kia Seltos facelift should continue to be powered by existing engine options.
2022 Audi A8L launched in India; prices start at Rs 1.29 crore
German automaker Audi launched the A8L facelift with fresh styling and new features. The premium sedan is available in two variants – Celebration Edition and Technology. Bookings for the new model had started in May 2022 against a token amount of 10 lakh. Interestingly, the Audi exclusive personalization option includes 55 exterior colors, eight interior colors and seven wood inlays. The A8L Celebration Edition is available in a five-seat configuration, while the A8L Technology is available in four- and five-seat configurations.
Best Cars Launched in India in June 2022
In June, we saw a series of new car launches in the country. The list includes the Kia EV6, Volkswagen Virtus, Mahindra Scorpio-N, Hyundai Venue, BMW M340i 50 Jahre M Edition and Maruti Suzuki Brezza.
Discounts of over Rs 40,000 on Tata Safari, Harrier and Nexon in July 2022
In a bid to boost sales in July, Tata Motors announced a wide range of discounts on some of its models, such as the Tiago, Tigor, Nexon, Harrier and Safari. Benefits are offered in the form of cash discounts, foreign exchange discounts and corporate benefits.
Maruti Suzuki Nexa releases new teaser for Grand Vitara; World Premiere July 20
Maruti Suzuki had released a series of teasers for the Grand Vitara ahead of its official unveiling in the country on July 20. The next model will be sold through the company’s premium Nexa dealerships. Mechanically, the vehicle will be available in strong hybrid and mild hybrid engine options.
Tata Nexon EV and Nexon EV Max prices increased to Rs 60,000
Tata Motors had recently raised prices in its passenger vehicle segment by up to 0.55%. The price revision also affects the electrical segment. Depending on the variant, the Nexon EV Max is now more expensive up to Rs 60,000, while standard Nexon EV prices have been increased up to Rs 20,000.
Nissan Magnite Red Edition launched in India; prices start at Rs. 7.86 million
The Magnite was a breakthrough product for Nissan in India. In an effort to boost sales, the company introduced the Magnite Red Edition with distinctive aesthetic and functional upgrades. It is available in three variants – Magnite XV MT Red Edition, Magnite Turbo XV MT Red Edition and Magnite Turbo XV CVT Red Edition.
Next-gen Hyundai Tucson unveiled in India
Hyundai unveiled the next-generation Tucson in India with 29 segment-first and best-in-class specs. Reservations for the feature-rich SUV will begin on July 18, followed by the pricing announcement on August 4. The SUV will be available in gasoline and diesel engine options. The 2.0-liter petrol engine develops 154 hp at 6,200 rpm and 192 Nm of torque at 4,500 rpm. This engine is mated to a six-speed automatic transmission. On the other hand, the 2.0 liter VGT diesel engine associated with an eight-speed automatic gearbox develops 184 hp at 4,000 rpm and 416 Nm of torque at 2,750 rpm.


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Bell to collect customer personal information for marketing, targeted ads
Customers will have their web and TV history recorded unless they opt out
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Bell will soon start tracking how its customers use the web and their mobile devices, what they watch on TV, and when they make phone calls.
Websites visited, search terms used, TV shows watched, calling patterns and mobile usage will be collected and collated with what products and services customers pay for, where they live, their gender and age range.
Bell says the data it collects will not be linked with a customer’s identity. While customers can opt out of having their data used for personalized advertising and marketing reports, it appears they will be tracked regardless.
Bell did not respond to an interview request.
Mobile customers can opt-out of having their data used by Bell at the following link: http://bit.ly/1bSRvvr
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Police fraud probe over Cockermouth store money
Last updated at 19:43, Thursday, 31 May 2012
A senior member of staff has been sacked from Cockermouth’s Lakes Home Centre and police are investigating after allegations that money was taken from the company.
Police have confirmed that a 42-year-old woman has been arrested on suspicion of fraud and bailed while inquiries continue.
It is understood she lives in the town.
Lakes Home Centre managing director Patrick Lister said that a woman had been dismissed from the store’s accounts department but would not confirm how much money was involved.
The arrest came after another employee found a discrepancy in the end-of-year accounts for the Low Road store.
The woman arrested had worked at the store since before Mr Lister took over in 2004.
He declined to comment further.
A spokeswoman for Cumbria police confirmed that the force had been contacted by a Cockermouth business regarding allegations of theft of money by an employee.
She said: “As a result, a woman aged 42 was arrested on suspicion of fraud and has been bailed until July 9, while police continue with their inquiries.”
First published at 19:23, Thursday, 31 May 2012
Published by http://www.timesandstar.co.uk
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Black Friday has led to debate about both greenhouse gas emissions and the importance of shopping for freedom and democracy. Photo: CC0/. Source: Rawpixel.
Of: Edwin Borg
During the past week, several debaters have raised criticism against Black Friday. Opinions have differed: some criticize consumerism as contributing to both climate change and poor working conditions, while others see it as a class issue. Some also see consumption as something worth celebrating.
November 27, 2023, Current debate
Gotlands nation and FUF Uppsala (The Swedish Development Forum's local group) invite you to our Clothing Swap Day no. 11 (also called Nordic Swap Day) to find your perfect Uni wardrobe! During the clothing swap, you can also try FUF Uppsala's quiz about sustainable consumption and production. Put yourself out there, talk to us and rise […]
October 31, 2023, English, Calendar, Local group, Educational activity
Unsustainable consumption is one of the main causes of climate change - and that we thereby risk the stability of the planet, say Johan Rockström, professor of environmental science, and several other environmental scientists. Photo: dmncwndrlch/Pixabay, Twitter.
Of: Fanny Tegman Lindholm
Sweden's material footprint is increasing and sustainable consumption and production patterns are one of our biggest challenges. During In Almedal week 2022, there was a consensus among researchers about the negative impact of overconsumption on the climate.
July 26, 2022, Almedalen - article, Report
On Kungsgatan, one of Gothenburg's most popular shopping streets, shopping people often meet recruiters from various organizations. Photo: News Øresund / Jenny Andersson. Source: Flickr.
Of: Agnes Von Unge
Today, non-profit organizations often use member recruiters in the city to raise money for their businesses. At the same time, the change needed in the consumer society requires that organizations also change their fundraising strategies.
March 10, 2022, Chronicle
Last year, the devastation of the Amazon in Brazil increased by 22 percent compared to 2020. This is the highest annual deforestation in 15 years. Photo: quapan. Source: flickr.
Of: Ebba Eriksson
The destruction of the Amazon, the lungs of the earth, threatens biodiversity as well as the rights and lives of indigenous peoples. Alarming reports of deforestation of an area as large as France and images of burning primeval forest arouse strong feelings in many and a desire to be able to help - and we in Sweden can be involved and influence.
March 1, 2022, Chronicle
Swedish textile consumption has increased by almost 30 percent during the 2000s. Photo: OiMax / Flickr
Of: Johanna Wolff
The fashion industry is increasingly promising sustainable solutions. Companies like H&M have been accepting textiles for recycling and recycling for a couple of years now. But an overconfidence in the circular economy can lead to continued unsustainable consumption and a high climate impact.
March 18, 2020, Report
The EU should immediately suspend negotiations with Turkey on EU membership, some debaters write.
Of: Ina Carlsson
The EU's conflict with Turkey over who will receive the many migrants continues. Several debaters believe that the EU must put pressure on Turkish President Erdogan to reach a new migration agreement. In addition, this week WWF has been criticized for its support for cotton certifications.
March 12, 2020, Current debate
On Black Friday, we are encouraged to consume more than usual. It has created debate on Swedish opinion pages.
Of: Rebecka Rönnegård
Is climate colonialism behind Swedes' consumption? Or is it in fact poverty that causes emissions? These are issues that have been debated in connection with Black Friday and the UN climate summit in Madrid. In addition, Sweden's military efforts in Iraq and the new EU Commission have been discussed.
December 4, 2019, Current debate


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This week, traders will continue to focus on global politics especially in the United States, UK, and the EU. In the United States, the Mueller investigation will continue focusing on Donald Trump and his business. As it was reported a while ago, Mueller had subpoenaed the Trump Organization for documents related to Russia. As Trump had mentioned before, this would be a red line in the investigation.
Over the weekend, Russia’s president, Vladmir Putin won another six-year term by a landslide. He won more than 70%. The election came at a time when Russia is being accused of developing nerve agents and hacking key United States infrastructure. Last week, it was accused of hacking the country’s power sector and poisoning former Russian spies in the United Kingdom.
From a data aspect, the biggest news this week will come on Wednesday when the FOMC will complete its two-day meeting. The meeting will come at a time when inflation in the country is easing and at a time when the world is grappling with a new era in trade. This comes at a time when Trump is focusing on trade and the deals that have defined the world as we know it. He has initiated tariffs on steel and he is already creating more tariffs targeted at Russia. Over the weekend, top American companies sent a letter opposing any such tariffs arguing that they will increase their cost of production.
Last week, the country’s inflation data showed that inflation eased in February but a new threat on trade would push inflation rising as manufacturers move to cover costs. Traders expect the FOMC to hike rates. For the year, most of them expect the FOMC to hike three times.
At the same time, the Reserve Bank of New Zealand will complete its meeting. It is expected that the officials will leave rates unchanged following a few months of slowing growth. The revised Q4 GDP numbers showed that the country’s GDP slowed more than expected. This slow down was caused by extreme weather which caused lower production of dairy products. The rates will be left at 1.75%.
On Thursday, we will receive employment data from Australia. The data to be released will show that the country created more jobs in February than it did in January. Traders expect that the economy added more than 20K jobs. In January, it added about 16K jobs. The unemployment rate is expected to remain at 55.5% while the participation will remain at 65.5%.
On Tuesday, we will get important inflation data from the United Kingdom. The data will show that inflation eased to 2.8% from 3.0% last month. Easing of inflation may be a good thing for the UK as the trend moves closer to the target of 2%. This data will come a day before the Bank of England releases its interest rate decision. As such, the cable will be a key currency to watch this week.
Other major economic data to be released this week will be: RBA minutes and German ZEW Business environment on Tuesday, UK Jobs numbers and US home sales numbers on Wednesday, German manufacturing numbers and UK retail sales on Thursday, and Canadian CPI, Retail Sales, and US home sales data on Friday.


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Fashion giant Zara has confirmed it will NOT be bringing a store to Teesside - but hasn’t ruled out any future branches coming to the area.
Despite rumours circulating on social media, Zara head office confirmed it had no plans to come to Teesside Park .
It did confirm, however, the possibility of a store coming to the shopping outlet has been forwarded on to the commercial team for “further consideration”.
The Spanish clothing chain has spread across the world since it was founded in Galicia in 1975.
But Teessiders will have to continue to go to the Metro Centre or York to have their shopping fix.
A Zara UK spokeswoman said: “We have not received any information related to a new Zara store opening at Teesside Park.”
However the company said the interest in a new store has been passed to its commercial team responsible for acquisitions and new store openings for further consideration.
Comments on Twitter showed the interest local people had in bringing the store to Teesside.
One person tweeted: “I can’t wait till Zara comes to Teesside park I will be beaming.”
Another wrote: “A Zara coming to Teesside park is the best news I’ve heard in a while.”
Someone else commented: “Please say the news about Zara coming to Teesside park is true.”
In the past year, Teesside Park has seen redevelopment in the shape of a new Nando’s chicken restaurant and new shop frontages.
Clothing and home ware store Next has also expanded.
Zara has stores across Europe, and as far away as New York and Australia.
Zara founder, Spaniard Amancio Ortega, briefly became the world’s richest man in September last year.
He overtook Microsoft founder Bill Gates for two days, before fluctuating share prices pushed him back into second place.


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Apple’s iPhone 14 Plus won’t set any sales records, at least according to early analysis. In fact, the new-generation “Plus” model lags behind the iPhone 13 Mini when it comes to projected sales. But after all, what happened to make a release like this less attractive?
The iPhone 14 Plus is simply too expensive
For now, pre-order results for the iPhone 14 and 14 Plus are worse than the iPhone SE 3 and iPhone 13 mini, according to analyst Ming-Chi Kuo in a blog post.
“The iPhone 14 Plus is a replacement for the iPhone 13 mini. However, pre-sales results for this new product were significantly lower than expected, meaning that Apple’s product segmentation strategy for standard models failed this year.”
In reality, the problem is much simpler than we imagined: the price is too high for the specifications of the new smartphone. The iPhone 14 Plus costs R$ 8,599 in Brazil, a very high price, but it is even compatible with a newly launched premium smartphone (if there was no iPhone 14 Pro).
The iPhone 14 Pro costs just R$900 more than the Plus
In practice, if the user wants to pay dearly for a premium smartphone, other models are more cost-effective. If you want to spend less on an iPhone 14, which has a smaller screen while keeping almost all other specs identical to the “Plus”, you save R$1,000.
If you opt for something better, the iPhone 14 Pro requires an additional investment of BRL 900 to reach its launch price of BRL 9,499. It is worth noting that the “Pro” version of Apple’s new generation of iPhones brings a new A16 Bionic chip and a series of other features that the “Plus” model does not have. Naturally, it seems like a low price difference to get a considerable amount of benefits.
In addition to the new processor that brings better energy efficiency, the new Pro line of Apple smartphones also bring an Always-On screen and the famous Dynamic Island. According to Kuo’s figures, the iPhone 14 Pro Max has proven to be the most popular iPhone model to date, despite being the most expensive, indicating that consumers are opting for the “Pro” versions over the more basic ones with the last year’s A15 Bionic chip.
Plus, if you’re looking to pay less on a larger-screen iPhone, the iPhone 13 lineup is still a great option, especially when the specs have barely changed for the iPhone 14 and 14 Plus. So it might be worth it to buy an iPhone 13 Pro Max.
iPhone 14 Plus boosts sales of Pro models
Either way, Apple may well have released a Plus model at an unusually high price for what it offers as a strategy to sell more iPhones 14 Pro and Pro Max. At the end of the day, the iPhone 14 Plus should still please a niche of consumers who cannot afford to spend that much on a Pro-line smartphone, but who are looking for a current model with a larger screen.
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On June 23, 2023, the EU released its 11th package of sanctions on Russia. This package is designed to improve enforcement with new anti-circumvention rules, new trade restrictions, and new designations. The anti-circumvention rules are quite a novel aspect and could result in the first extraterritorial reach of European sanctions.Continue Reading The EU’s 11th Sanctions Package: The Long(er) Arm of the Law
In response to Russia’s illegal declaration of annexations of Ukrainian territory, the United States and the European Union have imposed additional sanctions on Russia.Continue Reading U.S. and Allies Impose Additional Russia Sanctions After Sham Annexations
- The proposed regulation would arm the EU with a counterstrike capability if non-EU countries take economic action against a Member State.
- Where a Member State is subject to economic interferences from non-EU states that affect its legitimate sovereign choices.
- The European Commission to take some or all of the following measures against the interfering state:
- Impose tariffs;
- Implement quotas;
- Restrict access to EU financial markets; or
- Reduce intellectual property protections
- Food products containing E171 will no longer be allowed to be imported into Europe from January 2022.
- From June 2022, the sale of products containing E171 will be prohibited in Europe.
In August 2020, we wrote a blog post about the adoption by the European Commission (“Commission”) of a White Paper on Foreign Subsidies. On 5 May 2021, the Commission adopted a proposal for a Regulation on foreign subsidies distorting the internal market after an extensive consultation process with stakeholders. This post updates our previous entry and considers the implications of the newly proposed regulation.
Continue Reading The European Commission Adopts a Proposal for a Regulation on Foreign Subsidies Distorting the Internal Market
On May 10, 2021, the EU adopted its new, revised version of Regulation (EC) No 428/2009 (the “Regulation”). It is widely acknowledged to be the first major reform to the structure of the EU’s export control regime since 2009.
The text of the Regulation was approved by the European Parliament on March 26, 2021. In November 2020, the Council and European Parliament representatives reached a provisional political agreement on the Regulation. The reform of EU export controls had initially been proposed by the European Commission in September 2016.
Continue Reading A New Era of Export Controls Begins in the EU: The Revised EU Dual-Use Export Controls to Promote Human Rights
Europe has come up with a nifty plan to help Iran buy and sell stuff outside the reach of U.S. sanctions. The problem is that the plan is a fraud magnet. How do we know? It’s been tried before, and the fraud was epic.
The plan is known as the “Instrument in Support of Trade Exchanges,” or “INSTEX.” Lots of smart people have been involved in creating the program. Let’s hope they’re not too young to remember 1995, when fraudsters first heard that the UN was setting up a program known as “Oil-for-Food.” Similar to INSTEX, Oil-for-Food was designed to allow a sanctioned country (in that case, Iraq) to sell oil on the world market in exchange for food, medicine, and other humanitarian goods. A 2005 independent audit of the program found a staggering variety of fraudulent schemes netting billions of dollars in income for illicit merchants, intermediaries, and the Saddam Hussein regime itself. If INSTEX is not careful, it could be the victim of similar scams.
Continue Reading How to Steal $10 Billion from Europe
Our “trends for 2018” are only a selection of interesting developments to watch for in 2018.
Within the political and legislative cycle of the European Union, 2018 promises to be an eventful year, given that it is the last full year before the 2019 EU elections when a new European Commission will be appointed and the European Parliament will hold new elections. This means, in practice, that there will be pressure in 2018 on the current European Commission and European Parliament to act on all their initiatives and to complete their legislative agenda.
Our team of EU lawyers will continue to report on noteworthy developments including for instance, Brexit and its implications for competition and regulatory policies, the surge in foreign direct investment controls, the opening of new competition enforcement fronts, the practical implementation of the EU damages directive, as well as the development of alternative means of resolution in competition investigations and their impact on rights of defence.
We invite you to contact us directly should you have an interest in discussing any topic further or in obtaining additional information. We hope you will enjoy the read!
Continue Reading 2018 EU Trade, Regulatory and Competition Trends
EU food safety authorities are still feeling the repercussions of the insecticide-contaminated eggs crisis. That crisis highlights the many challenges of dealing with unsafe and non-compliant products in a single European market, such as a lack of cooperation between EU authorities, traceability difficulties and widely varied national safety and testing standards.
Continue Reading Scrambling After an Egg Crisis – EU Safety Guidance for Online Product Sales
On July 27, 2017, the U.S. Congress sent to President Trump’s desk a bill that imposes new financial sanctions against Russia, Iran, and North Korea. It appears nearly certain that the president will sign that bill, now called the “Countering America’s Adversaries Through Sanctions Act” (CAATSA). Edit: President Trump signed the bill on August 2, 2017.
Continue Reading In the Chaos of (Trade) War, Where Does Your Company Find Peace?
How The EU Data Privacy Regulation Will Affect American Companies’ Data Collection and Processing Practices – and Their Revenue
For American companies who do business in Europe or who process the personal data of EU residents, the world of data privacy and security is about to get much more complicated. While U.S. privacy law is unsettled, with rapidly proliferating state and federal laws and regulations and uncertainty as to how strictly they will be enforced, the rules in the European Union are tough and about to get much tougher. The General Data Protection Regulation (EU) 2016/679 (GDPR), slated to take effect in May 2018, will give consumers in the EU substantially more control over how their personal data is used. The increased control includes the right to:
- access any personal data that has been collected,
- obtain confirmation about whether an individual’s data is being processed, and
- require that the data be “erased” if the consumer withdraws consent.


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The retail banking landscape in Ghana is evolving at an unprecedented pace, leaving behind its traditional roots.
In this dynamic environment, the banks that will emerge as true winners are those that strategically embrace change and proactively simplify banking for customers in our rapidly changing world.
The Head of Retail at UBA Ghana, Peter Dery has stated that the Bank has made it her mission to be at the forefront of this transformation. Our goal is crystal clear: we are committed to making the banking experience as effortless and user-friendly as humanly possible.
“Our commitment to simplifying banking for our customers remains unwavering, even in the face of unprecedented global challenges and headwinds. We understand that the world is currently navigating two major storms—the Russia-Ukraine war and the ongoing impact of the COVID-19 pandemic” Peter stressed.
These disruptions have sent shockwaves through the global supply chain, affecting economies and businesses worldwide, including Ghana. The road to recovery may be challenging, but UBA Ghana stands as a steadfast partner in your financial journey.
We recognize that these turbulent times require not just resilience but also adaptability and agility. That’s why we continue to innovate and evolve our services, ensuring that we provide you with the support and solutions you need to thrive, no matter the circumstances.
To achieve this, we have adopted a multi-faceted approach, recognizing that a one-size-fits-all strategy simply won’t cut it in today’s diverse and dynamic market.
Digital Banking Services: UBA Ghana recognizes the importance of digital channels in modern banking. The bank has developed user-friendly mobile banking apps, internet banking services, and digital payment solutions to cater for our cherished clientele. These digital platforms provide customers with the flexibility to manage their accounts, conduct transactions, and access services from their laptops or smartphones while on the go.
A notable example is the “Leo” platform, which integrates various banking services and customer support through WhatsApp Facebook Messenger, etc., minimizing the need for human intervention. This approach not only enhances convenience but also aligns with the changing preferences of customers who prefer digital interactions.
Branch Network Expansion: UBA Ghana continues to expand its branch network in strategic locations across the country. This expansion aims to bring banking services closer to customers, ensuring that individuals and businesses in various regions have easy access to personalized banking solutions. The business continues to make plans to expand its network in other regions in Ghana.
This physical presence, enhances customer engagement and allows for face-to-face interactions, especially for customers who might not be as comfortable with digital platforms. As part of increasing financial inclusion, UBA is also increasing customer touch-points with more off-site ATMs.
Product Diversification: Understanding that different customers have diverse financial needs, UBA Ghana has introduced a wide range of retail banking products. This product diversification ensures that the bank can serve various segments of the population effectively. By offering products that cater for different financial goals and lifestyles. Top of UBA diverse products include AfriTrade, AfriCash (UBA exclusive remittance service), UBA Connect, PAPPS, UBA Target Account, UBA Teens, UBA Kiddies, UBA NextGen, Employee Savings Account, Ruby Current Account Premium, Ruby Current Account Classic, Domiciliary Advantage Account, UBA Bumper and a host of others.
UBA Ghana remains poised to meet the retail banking demands leveraging on these approaches to remain the bank of choice for customers. This has been validated by several organizations through various awards including being adjudged the Best Bank in Retail by the KPMG in their last banking industry survey.


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Nissan concept 2020 vision gran turismo revealed, , Nissan has revealed its latest vehicle destined to join the pantheon of 148 different nissans to have appeared in the gran turismo video game series over the years..
Volkswagen ev crossover .. model ., Future cars. best cars of the 2017 frankfurt motor show; bmw i vision dynamics concept first look; the escalade dilemma – the big picture; 2019 toyota rav4: what to.
Nissan concept 2020 vision gran turismo – gran-turismo., Oct 27, 2015 full-scale model of the nissan concept 2020 vision gran turismo to be displayed at the tokyo motor show nissan have announced that a full-scale model of.
Volkswagen resurrects kombi awd, autonomous, Electric is the big focus for volkswagen right now, as it gears up for a serious push into evs beginning in 2020. this i.d. buzz minibus shows us what we might be in.
Automobiles – cnbc., Find the latest news on car recalls and automobile manufacturers, as well as industry insights from behind the wheel, from cnbc.com..
Volkswagen charge electric microbus concept, Volkswagen is putting on a full court press when it comes to suvs and alternative energy vehicles. shifting sentiment in the aftermath of dieselgate won’t be easy.
Volkswagen builds 150 millionth vehicle – motor trend, Volkswagen’s 150 millionth vehicle, a blue golf gte plug-in hybrid, rolled off the line in wolfsburg, germany, recently..
Skoda vision : ‘ czechs’ electric car car, Skoda vision e concept czechs’ first electric car due to go on sale by 2020. this is new skoda vision e concept car – the first czech brand’s first ever electric.
Vision gran turismo – gran-turismo., The vision gran turismo project started with a single question from gran turismo founder kazunori yamauchi: “would you design your rendition of the ideal gt for us?”.


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A gang who broke into a Cambridge University museum after hours made off with some small but incredibly valuable Chinese artifacts. The 18 items stolen, most of them made of jade, were worth close to $30 million in total, the Daily Mail reports. The items, including a 16th-century carved buffalo, had been in the museum's collection for more than 50 years after being bequeathed by private collectors. Police suspect the Cambridge items may have been stolen on the orders of a less public-minded collector.
"These works are a highly important part of our collection, and their loss is a great blow," said a museum spokesman. Police say they are doing everything they can do recover the "valuable and culturally significant" items. The value of Chinese artifacts has exploded in recent years, and there appears to be a boom in theft as well: Just two weeks ago, artifacts worth $3.2 million were swiped from another British museum. Five people were arrested after that theft, and the stolen items were recovered. (Read more art theft stories.)


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Information technology and consumer electronics company Nokia Corp (NYSE: NOK) reported better than anticipated fiscal 2017 second-quarter earnings and revenue, compared with the similar period last year. The company also surpassed the quarterly EBIT estimates of analysts. However, the stock continues to move in a narrow range of $6.15 to $6.25 for the past two weeks. We anticipate a downtrend to begin due to reasons discussed below.
The Finnish company reported second-quarter 2017 net sales of €5.63 billion ($6.18 billion), down 1% from €5.67 billion ($6.31 billion) in the same period of fiscal 2016, but better than Thomson Reuters Consensus estimates of $5.98 billion. Net profit in 2Q17 was €449 million, or €0.08 per share (~$0.09), up 131% from €194 million, or €0.03 per share (~$0.04), in 2Q16, and surpassed Zacks Consensus estimate of $0.04 per share.
Nokia’s business can be divided into three segments: Networks, Technologies, and others.
Under the Networks segment come the Ultra Broadband, Global Services, and IP Networks and Applications divisions. The 5% y-o-y decline to €4.971 billion in Networks revenue was mainly responsible for the poor performance of the company. Both Ultra Broadband and IP Networks and applications reported a 8% and 4% decline in revenue to €2.165 billion and €1.358 billion, respectively.
Nokia’s Technologies segment reported revenues of €369 million, up 90% on a year-on-year basis. Other revenues recorded 2Q17 revenues of €307 million, up 14% from €270 million last year.
Operating profit in the April-June 2017 quarter increased 73% to €574 million, from €332 million in the year-ago period, and surpassed the Wall Street estimates of €447 million.
Adjusted gross margin in the recent quarter was 41.7%, compared with 38.9% in the similar quarter last year. Operating margin for 2Q17 was 10.2%, up 430 basis points from last year’s corresponding quarter. Net cash from operating activities more than doubled to €1.309 billion in Q2 2017, from €616 million in the year-ago period.
During the quarter, Nokia received €1.70 billion from Apple over an intellectual property dispute. Following the upfront cash payment, both companies have agreed that Apple would resume marketing Nokia’s digital health products and also collaborate in digital health initiatives in the future.
The company got access to a larger fixed-line network business through the acquisition of Alcatel-Lucent in a $15.60 billion deal. That made the company less dependent on mobile broadband. Additionally, the company also introduced routers targeting internet companies. Nokia anticipates cost savings of €1.20 billion in fiscal 2018, excluding Nokia Technologies.
The company now anticipates FY17 core (Networks) revenue to decline in the range of 3% to 5%, instead of low-single digit decline anticipated earlier. However, Nokia maintained that it would still realise a segment operating margin of between 8% and 10%. Thus, a decline in quarterly revenue and poor FY17 view is expected to keep the stock bearish in the short-term.
The stock is facing heavy resistance at 6.40 levels. The MACD indicator has moved below the zero line, while the Chaikin money flow histogram has a negative reading. That indicates bearishness in the stock of Nokia. The next support for the stock is at 5.80.
We believe that an investment in a put option would enable us to gain from the impending decline in the stock price. A strike price close to $6.25 and an option expiry date around September 11th would increase the odds of success in the trade.
Disclaimer: The trading analysis offered here is our opinion. It is not provided as trading advice, merely an indication of our trading plan. We cannot guarantee success and we encourage traders to incorporate a strong money management strategy to limit losses. Please use this article as part of your own research before formulating strategies prior to trading.


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Social media influencers will soon have to declare their association with the product they endorse as the government will come out with certain guidelines for them in the coming days.
“Recommendations for social media influencers are forthcoming from the Department of Consumer Affairs. Dos and Don’ts are being developed for them “a trusted source reported.
According to sources, social media influencers with huge followings on social media sites like Instagram promote products in exchange for payments from the brands. According to the proposed rules, social media influencers who promote a brand while receiving payment must disclose their relationship with that brand, according to sources.
The Department of Consumer Affairs’ Central Consumer Protection Authority (CCPA), which oversees this subject, has finished consulting with all parties involved.
Disclaimers will need to be included in such endorsement posts by social media influencers, they continued. The rules could be released within the next 15 days.
– A disclaimer must be provided for paid advertising.
– The rules will also mention famous people.
-If not followed, the CCPA will impose fines of Rs. 10 lakh for a first offence, Rs. 20 lakh for a second offence, and finally Rs. 50 lakh for a continual breach.
The government has finished creating a framework to prevent fraudulent reviews from being uploaded on e-commerce platforms. To explore the prevalence of bogus reviews on various platforms, the department and the Advertising Standards Council of India (ASCI) organised a virtual meeting with stakeholders in May.
Consumers are misled into purchasing internet goods and services by fake reviews. After researching the global best practises and the current system used by Indian e-commerce businesses, the department determined it would create these frameworks.
Consumers mainly rely on reviews placed on platforms to see the opinions and experiences of users who have already purchased the thing or service because e-commerce involves a virtual shopping experience without the chance to physically inspect or scrutinise the product.
“The two main challenges here are traceability by guaranteeing the reviewer’s legitimacy and the platform’s accompanying liability. In a fair and transparent manner, e-commerce businesses must also reveal how they select the “most relevant reviews” for display “Rohit Kumar Singh, the secretary of consumer affairs, had stated.


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Tag Archives: asian gaming & hospitality congress
- CalvinAyre.com confirmed sponsor of Social Gaming Asia Summit
November 7, 2012
CalvinAyre.com has been confirmed as the official online media sponsor of the inaugural Social Gaming Asia Summit. The event takes place on November 29 at the Galaxy Macau and is held alongside the larger and more experienced Asian Gaming & Hospitality Congress. As online media sponsor CalvinAyre.com will provide a...
Parisian Macao battling Legionnaires’ Disease outbreak
April 25, 2017
Execs to take on blockchain at iGaming Asia Congress 2017
March 21, 2017


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Tech.eu is growing: we’re happy to announce that The Nordic Web founder Neil Murray is joining the team to help us out with data analysis, and even better covering the exciting European tech industry.
Tech.eu Radar just got better: you can now keep track of funding rounds, acquisitions, specific countries and industries. Give it a whirl and tell us what you think.
The Tech.eu team travels a lot, so we thought we’d publish a post featuring all the places we’re heading to in the next few weeks. It would be delightful to meet you in any of them – let us know!
An introduction of the LIFE project, which Tech.eu is a partner of, in an effort to better understand ‘failure’ in the context of European entrepreneurship – and a call for sharing your own stories.
Next week, join us in London for Digital Media Europe, an event focused on digital publishing (and how to make money doing it). As a startup, you can register for the event at a significant discount.


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Kodak: No regrets over DSLR exit
January 25, 2013
Kodak discontinued its DCS Pro SLR/n and DCS Pro SLR/c camera bodies in 2005.
‘We had long debates about what to do… but the driving force was, when you broke down the economics, you really had you have your own lens manufacturing for it to be a great business to be in,’ said Eastman Kodak general manager for Film Capture, Paper and Output Systems, Dennis Olbrich.
Olbrich – a former operations manager for Digital Cameras & Devices – said it was not a viable business model, given the price Kodak would have had to pay to buy third-party lenses.
‘Our decision was that it was not a profitable venture to go into, given that we didn’t have SLR-type lens capability in-house,’ he added in a recent interview with Amateur Photographer.
Earlier this month, Kodak announced plans for an interchangeable-lens, compact system camera, to be made by US firm JK Imaging under a brand licensing agreement.
On Wednesday, Kodak won court approval for it to borrow $844 million dollars – funds it plans to use to help it emerge from bankruptcy protection by ‘mid-2013′. Kodak agreed the deal with lenders in November 2012.
Kodak chairman and CEO Antonio M Perez said: ‘The court’s approval of this financing commitment puts Kodak in a strong position to emerge from Chapter 11.
‘This agreement, in conjunction with the recently approved sale and licensing of our digital imaging patent portfolio, lays the foundation for our Plan of Reorganization and a successful emergence from Chapter 11 as a profitable and sustainable company.’


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Profile of Serdar Yegulalp
News & Commentary Posts: 760
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Articles by Serdar Yegulalp
posted in April 2013
Apple, Samsung and Google are all rumored to be working on smartwatches. With all the buzz about these devices, it's hard to see the real use cases through the hype. Here are nine things we think any smartwatch worth its salt (and silicon) needs.
Once again, Facebook has found a new low. Facebook Home, their Android skin, is an attempt to grab hold of users and not let them go, to make them think that there is nothing out there but Facebook.


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Rumors suggest that Nokia is on the verge of revealing at least two new smartphones. These are believed to be the Nokia 7.3 and a new flagship of the Finnish brand.
What is certain is that the brand is preparing to reach a new milestone with regard to the batteries used in its smartphones. According to the new rumors, Nokia will launch a device with a 4500mAh battery and another with 5000mAh.
Nokia never released a smartphone with a 5000mAh battery
Even without knowing which models will be included with these cells, there is a fact that is remarkable for Nokia’s history. For the first time, the Finnish brand is preparing to launch a smartphone with a 5000mAh battery.
So far, the equipment with the largest battery in the brand’s portfolio is the Nokia 8.3 5G. This model uses a 4500mAh cell, which means it will be matched by one of the company’s new models.
Nokia 7.3 and Nokia 9.3 should be the brand new smartphones
The news that reaches us today does not specify which models will use these new batteries. However, it is known that Nokia is preparing a new middleman and possibly a new top of the range,
Therefore, it is likely that the 4500mAh battery is intended for the new Nokia 7.3. Its next top of the range – Nokia 9.3 – should be the one with the largest battery ever used by the brand (5000mAh).
It is also speculated that this increase in the cells of these devices has something to do with the refresh rates of their screens. Especially because Juho Sarivkas hinted that Nokia is preparing to launch a model with a 90Hz or 120Hz screen.
A few weeks ago, it was said that Nokia would not let 2020 end without introducing Nokia 7.3 and Nokia 9.3. A few days before the end of the year, we still do not know of any Finnish presentation event, so it starts to be unlikely that these revelations will happen.
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© Reuters. Jakaverse 2022 Press Conference Officially Confirmed
Jakaverse is on the Metaverse platform where developers work together with the team in many countries, introducing the virtual Island containing more than 22 types of gaming, rotating on improving simultaneously. In addition, the Island is the hub of gaming, shopping vendors and services where you can find thousands of games, consumer products, and services for satisfying and relaxing people from the busy day.
The concept of Jakaverse is the oasis of games where people can enjoy and develop in one single place. Gamers and developers can create a new game and launch it to the virtual world easily via this platform.
Business and trading are within our reach with just one single click since one can have their own space making products and selling to its community or offering services such as educational schools, restaurants, medical centers, accommodation, and transportation, etc.
Launching a brand new technology and innovative product may not need to go to an exhibition hall anymore, thanks to the virtual technology that allows attendees, invited guests, and business partners to meet sign. No more traveling cost but easy to reach by people across the globe. It is the fastest and the simplest way for customers to get delivered on the day of launching.
Pre-sale the blocks on Jakaverse at the beginning of March 2022, reportedly all blocks are now overbooked. Also, the leading brands are reserving their space on the island gradually.
For the latest information and reservation on incoming blocks please visit our website at www.Jakaverse.com and Binance NFT.
Recently, Jakaverse has launched 3 games into the platform for free trial in the first quarter of this year. Jakaverse, in brief, is the founder of cryptocurrency JK, which is now listed on leading exchange markets such as LBank, Hotbit Exchange, Pancakeswap, and CoinMarketCap. The market value is approximately 6,000,000,000 USD.
Facebook (NASDAQ:): https://www.facebook.com/Jakaverse-JK-112994177718688
Contact Person: Mr.JK
Contact Email: [email protected]
City and Country: Tampines, Singapore
Disclaimer: Any information written in this press release does not constitute investment advice. CoinQuora does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release. CoinQuora is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release.
Read More: Jakaverse 2022 Press Conference Officially Confirmed By CoinQuora


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APPLE'S RUMOURED 16in MacBook Pro won't arrive this year after all, according to famed analyst Ming-Chi Kuo.
In a research noted obtained by MacRumours, Kuo - who previously broke the rumour that Apple was working on a 16in MacBook for release in late 2019 - says that the "all-new" laptop will now be released in 2020 or 2021.
While the reason behind the revised launch date isn't revealed, such a delay is hardly surprising. Kuo is predicting a complete redesign for the supersized MacBook, but Apple last introduced an all-new design barely three years ago with its Touch Bar-equipped notebooks.
While this new design hasn't exactly been well received due to issues with the bork-prone keyboard and Intel CPU, it's unlikely Apple would refresh its design language until next year at the earliest.
Beyond its redesign, not much is known about the incoming 16in MacBook, though online murmurs claim it'll be one of the first laptops to ship with Intel's 9th or 10th-gen Core i series chipsets, which will likely be teamed with at least 8GB RAM and 128/256GB of SSD storage.
A delay to the 16in MacBook isn't all Kuo has revised in his latest note. He's also predicting that Apple's previously-mooted iPad Pro upgrades, originally tipped for release later this year, will be launching at the end of 2020.
He still expects Apple's a 31.6in 6K Apple Display, which will boast a to arrive this year; the 6K monitor will have "outstanding picture quality thanks to its adoption of a Mini LED-like backlight design", according to Kuo. µ
You no longer need to cut the cord off
Before they start shipping on 24 October
Another fine mesh
But, er, it'll be available in pink


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Want a quad-display desktop? You could set up four separate monitors and run a massive tangle of cords that eats up half the outlets on your power bar. Or you could just hook […]
The post LG’s New 4K Monitor Likes To Pretend It’s Four Monitors appeared first on Geek.com.
2017 is shaping up to be a great year for Luc Besson. Sci-fi fans are eagerly anticipating his adaptation of Valerian, and now his science fiction classic is celebrating its 20th anniversary. How? It’s […]
The post Get Out Your Multipass, The Fifth Element is Coming Back to Theaters appeared first on Geek.com.
Eager PC gamers preparing to install Watch Dogs 2 on November 15 have been disappointed to learn the game is delayed by two weeks. Not on consoles, just on PC. So while console […]
Sony officially unveiled the PlayStation 4 Pro last month as a mid-gen successor to the current PS4. Since Microsoft is set to release Project Scorpio late in 2017, some believe the PS4 is […]
The post Despite what Sony says, the PlayStation 4 Pro cannot compete with PC appeared first on Geek.com.
Display manufacturers have been shifting their focus over the past decade. Each generation of smartphone had ever higher screen resolutions, and then we reached 4K and we stopped caring so much. All new […]
The post 4K virtual reality headsets now possible with Sharp’s latest IGZO display appeared first on Geek.com.
The market seems quite saturated with cheap, limited capability drones right now. Walk into any electronics store and there will be a range of drones on sale. But what about if you want […]
The post DJI Mavic Pro 4K camera drone folds up to the size of a water bottle appeared first on Geek.com.
I don’t think Sony is going to be overly happy with the unveiling of the PS4 Pro this week. Their decision to stream the announcement using compressed YouTube video backfired because nobody could […]
The post PS4 Pro game patches for existing PS4 titles may cost money (Updated) appeared first on Geek.com.
According to Sony, everyone is streaming their media so there's really no need for 4K Blu-ray support.
The post PS4 Pro does not support 4K Blu-ray discs because nobody uses them appeared first on Geek.com.
Crime has never looked so beautiful.
The post GTA V Redux will make console gamers extremely jealous appeared first on Geek.com.
Late last week, Sony confirmed that the PS4 Neo is real, and a games console capable of 4K output, better PSVR support, and a machine meant to sit alongside the PS4, not replace […]
As soon as LCD monitors became affordable I jumped at the chance to run multiple monitors connected to my PC. I have never looked back, starting with two displays, but soon moving to […]
The post Dell’s 43-inch 4K monitor doubles as 4 borderless 1080p displays appeared first on Geek.com.
We’ve reached a point where you can no longer walk into a store and purchase a non-HD TV. That’s a good thing. HD is now prevalent and cheap, and we can all enjoy […]
The post 4K Ultra HD isn’t just a resolution bump, it’s a complete visual upgrade appeared first on Geek.com.


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Google wants its Chromebook platform to excel and now it wants to make them even better at Android games too. That’s based on a recent report detailing a new commit spotted in the Chromium code repository for Chromebooks.
Of course, Chrome OS can already be used for gaming. Everything from GeForce Now to Stadia and even Steam, once development there wraps up, is supported. But this change will alter something fundamental in the way Chromebook devices run Android games for the better. Namely, by dealing with an issue caused by the virtualization of Android games. Or more specifically, the use of on-the-fly shaders in games.
As the situation currently stands, those shaders being called forward on the fly results in several issues. By compiling them that way, more resources are required in terms of memory. And, as the gaming intensity ramps up, so do the problems that can cause. especially with regard to freezes, stutters, and framerate drops.
Put simply, Google is looking to fix that.
How Google will make Android games on Chromebook better is… complicated
Summarily, Google is looking to allow Android VM to take advantage of a Linux feature on Chromebooks. Namely, the Mesa shader disk cache.
That will allow compiled game shaders to be stored on-disk for future use. That’s as long as the Chromebook hasn’t been restarted, at which point the cache will be cleared. Just as with Linux apps. Since most users likely don’t fully shut down or restart often, the benefits of that would be immediate.
For more intensive games, the local storing of shaders could result in faster loading times, just for starters. As much as eight times faster, in fact. And textures and other graphical elements will be significantly better too. All while delivering fewer hangups like those mentioned above.
Best of all, the change should be impactful from the best of the best Chromebooks to the most affordable offerings on the market.
Will this arrive with Android 11? Android 12? Who knows
Now, there has been some speculation that older Chromebooks may not have access. Particularly those stuck on Android 9 after Google finally gets around to updating the Chrome OS Android version. But it’s worth mention this is a feature used by Linux already. So Google making the leap to better Android games on a Chromebook shouldn’t be too difficult. And, since all new Chromebooks from 2019 support Linux, with the feature getting ready to leave beta, it should support most on the market today.
Harder to determine from the Chromium Gerrit commit, however, is when this will arrive. There’s no indication in the repository pointing to a specific version and Google hasn’t said anything about this officially yet.


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Look for NAND technology to thrive as the world becomes ever more interconnected through mobile devices and data centers seek to become more efficient, or "green."
Advanced Micro Devices is trying to beat Intel on price with its latest six-core desktop Phenom II X6 processors, which were announced on Tuesday.
Google gobbled up the chip-making startup Agnilux, whose employees were behind Apple's A4 iPad processor. Google didn't say specifically why it bought Agnilux, but many theorize it's to help build mobile chips for Android or Chrome OS mobile devices.
Japan's biggest chip maker is committing chip design expertise to Brazil as part of a far-reaching cooperation to build a semiconductor industry in the nation.
Advanced Micro Devices reported a net profit for the first quarter of 2010 on Thursday, holding up a streak that started the previous quarter.
Intel on Tuesday reported strong earnings for the first quarter of fiscal 2010, with the company calling it the "best first quarter ever."
Chip maker Advanced Micro Devices Inc. (AMD) grabbed a bigger piece of the global market in the fourth quarter of 2009.
An online retail store is taking orders for Advanced Micro Devices' upcoming 12-core Opteron processors, code-named Magny-Cours, ahead of the official launch.
The specifications for AMD's desktop-oriented six-core processors, codenamed 'Thuban', have been accidentally leaked by Gigabyte.
Nvidia on Wednesday asked customers to remove drivers that caused its GeForce graphics cards to overheat, which ultimately crashed some PCs.
Former US military security specialist Christopher Tarnovsky has found a weakness in Infineon's SLE66 CL PE.
Following up the recent launch of its Radeon HD 5450, ATI today announced the Radeon HD 5570. This new card supports DirectX 11 and OpenGL 3.2, and is designed with small-form-factor desktop PCs in mind.
Shipments of graphics chips worldwide went up in 2009 and could rise again this year as the PC industry emerges from the recession and consumers open up wallets, Jon Peddie Research said in a study on Tuesday.
Advanced Micro Devices reached profitability for the first time in three years during the fourth quarter of 2009, benefiting from a legal settlement with Intel and a change in its business model, the company said on Thursday.
Taiwan's biggest DRAM maker, Nanya Technology, reported its first net profit in nearly three years on Wednesday, as DRAM prices rose and demand remained strong in the fourth quarter of last year.
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First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.
For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.
The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.
The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.
My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.
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A new survey has revealed that six out of every 10 people preferred partying at home or friends’ home during New Year’s Eve, with a significantly higher number of people planning to travel within India and go on long drives.
The study also showed that 73 per cent prefer shopping and booking online.
The national survey was conducted by Velocity MR among a sample size of 2,010 respondents and covered prominent Indian cities including Delhi, Kolkata, Mumbai, Bangalore, Ahmedabad, Hyderabad, and Chennai.
Altogether 61 per cent of the respondents plan to party at their homes or a friend’s home. Vacation within India and long drives also seem to be most preferred with 36 per cent of the respondents choosing it. While foreign trips and long drives are the least favoured by the respondents less than 25 years of age, on an average people are ready to spend up to Rs 40,000 on vacation. Respondents, who are planning for a local trip or resort/homestay, are willing to choose either 4-star or 3-star hotels on their own or going through online platforms. Online food delivery, restaurants and hotels have a huge demand, as more than 55 per cent of the respondents prefer ordering in on new year’s eve. When it comes to food, cakes, pastries, cookies, chocolates and main course Indian meals are the most preferable.


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Greek National Tourism Organisation (GNTO) President Angela Gerekou held extensive talks in Athens with representatives of the Embassy of India to further strengthen tourism relations between the two countries, and excitedly, bring Bollywood to Greece.
Speaking to the embassy’s Commercial Attaché, Nirmesh Kumar, and Second Secretary, Rajendran Samykannu, Gerekou said that the long cultural tradition of Greece and India could be the main point of the cooperation in both the cultural and tourism sectors.
According to GTP, she also informed the embassy’s representatives on the GNTO’s current promotion strategy and highlighted the benefits the country could offer to India’s film industry (Bollywood) as a destination ideal for movie productions.
India’s film industry is one of the fastest growing sectors in the country.
For their part, the representatives of the Embassy of India spoke of the good cooperation that exists between the two countries.
They referred to the recent visit of India’s Foreign Minister Dr. S. Jaishankar to Greece in June 2021 and his talks with his Greek counterpart Nikos Dendias, Prime Minister Kyriakos Mitsotakis and Athens Mayor Kostas Bakoyannis.
The embassy’s representatives also presented India’s main tourism forms, which focus on architecture, gastronomy, medical tourism and film tourism (Bollywood).
Moreover, as a first step to boost tourism cooperation, both sides agreed to soon hold an informative event for representatives of the business community of both Greece and India.
The value of Bollywood in the 2020 financial year was about 183 billion Indian rupees, or about USD$2.4 billion.
This was expected to more than half the following year due to the COVID-19) pandemic, but estimates for fiscal year 2022 showed a growth of 196%.
Pandemic aside, India has consistently been the world’s largest producer of films since 2007.
The South Asian country is the leading film market in terms of the number of tickets sold.
In terms of revenue, ‘Uri’ a military action film, released in 2019, generated over 876% of the original cost of the movie.
This staggering amount of return on investment ranked the sequel top of the leading movies produced in India in 2019 by return on investment.
Advertisers in India are aware of the industry’s popularity with audiences and have invested heavily in cinema based advertising.
In fiscal year 2019, the revenue generated from in-cinema advertising across India was valued at over 11 billion rupees, or about USD$145,000,00.
The Indian film industry has a variety of revenue sources and with increasing focus on digital and regional languages, the value of the industry is poised for growth.


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OwnCrib in Lansing has launched OwnCrib, an automated, online real estate platform designed to simplify the home buying and selling process, which can save the average seller more than $20,000 in real estate agent fees per transaction and offer buyers discounts. Strong to 3 percent.
An online tool kicks in when the real estate market reflects high prices and bidding wars between interested buyers.
“OwnCrib subscribers can supply sellers in a less traditional way than buyers, and still make more money for the seller with our services,” said Ryan Carpenter, president and CEO of OwnCrib. “Many people are convinced to forego inspections and appraisals to increase their chances of winning a bidding war, risking the removal of their only defenses.
“With OwnCrib, you can still check and review, because the seller is making more money off their offer, so it’s worth an extra week or two to them.”
Now available in Michigan, OwnCrib eliminates the need for traditional processes and players and is available with easy payment regardless of purchase price.
“No one cares more about buying or selling your home than you do, so we empower you with tools to take the process at your own pace,” says Carpenter. “Self-service is the future for almost every industry, and with the money we’re talking about in real estate, it only makes sense that the market will continue.
“That’s why we’re bringing to market an automated online platform that provides the tools, third parties and contracts necessary for people to easily manage their real estate transactions on their own.”
Carpenter, a former real estate agent and mortgage loan originator, made the traditional home buying and selling process obsolete after realizing much of his work could be “automated.” Unlike other online real estate services, OwnCrib has no hidden fees and brings both home buyers and sellers together on one platform, saving the maximum amount possible for both parties in the transaction.
“Most online platforms serve as a discount broker or lead referral source for agents,” says Rachel Sanchez, co-founder of OwnCrib. “They have a lot of hidden fees, so when you look at the whole picture, you get little, if any, savings. With OwnCrib, you spend the same amount of time as you would with an agent, but you get to keep your money.”
Purchase and sale transactions are handled directly between parties who choose to use the platform services. OwnCrib said it is working to improve the experience and introduce additional features to further automate the scheduling, negotiation and communication processes and tasks between third parties. Although financing is still handled by traditional financial institutions, OwnCrib is currently in the process of partnering with mortgage lenders and title companies to provide its customers with a more streamlined process.
At OwnCrib, buyers and sellers can choose from packages ranging from $299 for the “Basic Buyer Package” to $999 for the “Premium Seller Package,” which includes several additional features, such as an experienced transaction coordinator to oversee the transaction.
To understand more, visit OwnCrib.com.


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This is a busy time of year for the Post team. With the National Association of Broadcasters show rolling into Las Vegas next month, we're doing our best to give you a heads up as to what will be hot at "The World's Largest Electronic Media Show."
A number of manufacturers have already given hints as to what they'll be showing at NAB. Panasonic is following up the positive feedback it received at last year's show when it introduced a solid state memory-based product line. This year, the company will be showing a close-to-shipping camera and "VTR," both based on its P2 card, which currently offers 4GB of storage.
Leitch recently held a pre-show event, introducing the press to an affordable high definition NLE - based on its Velocity product - which it will debut at the show as well. Cintel stopped by our office to give us details on a new film scanner targeted specifically toward the DI market. The new "reasonably-priced" Datamill will be on display in a demo suite, while its high-end multistandard DSX will be on the show floor. The company also has plans to introduce a standalone grain-reduction solution.
And Sony will introduce 18 new products, including lower-cost HD solutions that will extend its DVCAM line. The company's XDCAM optical disc-based based products will be at the show, and Sony says it will soon ship its first 1,000 cameras. Look for a new version of the Vegas NLE app Sony Pictures Digital recently acquired from Sonic Foundry, too.
So what about this year's attendees? The folks at commercial mixing house AudioEngine in NYC recently opened a fourth studio and plan on looking at the latest releases from Digidesign, particularly Version 10 software. AudioEngine already has a number of Pro Tools systems, as well as Pro Control interfaces and is looking to possibly add more Pro Controls to their mix.
And Terence Curren, president of AlphaDogs in Burbank, says he'll be looking for a cross-platform SAN solution. His studio has an assortment of NLEs, including Final Cut Pro, Xpress Pro, Media Composers and Symphony. He's not willing to pay what he feels is a high price for Avid's Unity, so Curren will be checking out the Apple booth. "I'd be willing to bet Apple has a SAN solution that's something along the lines of Unity."
We'll be keeping our eyes open too.


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Well, it’s officially begun. “Green” isn’t just a trend anymore, now it’s the law. It started on the first of the month, when the European Union (EU) banned the sale of incandescent light bulbs. From now on, consumers will have to choose between two more energy-efficient lights — the compact fluorescent (CFL) and the light-emitting diode (LED).
In addition to energy savings of 80 percent or more, the EU also cites a number of other reasons for making the switch. For instance, as a result of reduced energy consumption, consumers will notice immediate financial benefits (after an initial investment). Additionally, carbon dioxide emissions are expected to decrease. And while CFLs in particular use mercury in order to function, the EU states using more of the lights will actually reduce mercury emissions — go figure.


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It’s one of the most celebrated and classical food-beverage pairings in gastronomy: champagne and oysters. And a new study from the University of Copenhagen has discovered why they taste so good together.
The secret lies in the umami flavours found in both. Umami is one of the five basic tastes, alongside sweet, bitter, salty, and sour. It was discovered by a Japanese researcher in 1908, with the literal translation of the term meaning “pleasant, savoury taste” or “yummy”.
“Food and drink pair well when they spark an umami synergy from combinations of glutamate, which come from dead yeast cells in the champagne, and certain nucleotides, which come from the oysters,” Charlotte Vinther Schmidt, a research assistant who led the study, said.
A longstanding question has been whether this kind of pairing is more art than science.
“Obviously, chefs and sommeliers know their trade and can rationalise the way they match food and beverages by contrast and affinity, matching oyster properties like meatiness, salinity, and fattiness with champagne properties like minerality, brininess, and prickling acidity,” the study notes.
“We hypothesize that champagne and oysters are good companions in terms of taste because of their pairing may facilitate umami synergy.”
However, the researchers found that some Champagnes contain more umami flavour than others – Champagnes that have had longer lees ageing contain higher glutamate levels.
Several vintage and non-vintage wines were part of the study, including AR Lenoble’s ‘Chouilly’ grand cru blanc de blancs NV, Lanson Black Label NV, Duval-Leroy ‘Femme de Champagne’ grand cru 2000 and Taittinger Brut Millésime 2000.
Sounds like the perfect excuse to splash out on bubbles and oysters this Christmas.
Tyson Stelzer has named his Top 12 Champagnes of 2020: Taittinger Comtes de Champagne Blanc de Blancs Grand Cru 2008; Deutz Amour de Deutz Brut Millésime 2008 en magnum; Krug Grande Cuvée Edition 168 NV; Egly-Ouriet Brut Grand Cru Millésime 2008; Bollinger La Grande Année 2012; Louis Roederer Cristal 2012; Louis Roederer Cristal Rosé 2012; Bollinger PN VZ15 NV; Pol Roger Cuvée Sir Winston Churchill 2009; Charles Heidsieck Millésime Brut 2012; Ayala No 7 2007; Franck Bonville Collection Privée 2008.


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The DOJ in New York sentenced Sohrab Sharma, a co-founder of a crypto scam, Centra Tech, to eight years imprisonment. The court also asked the co-owner to forfeit $36 million made from the crypto scam. The operation made more than $25 million from its fraudulent Initial Coin Offering (ICO) scheme announced in 2017 until the government tagged it as a scam. The program’s initiators announced it as a niche company that operates products and services related to cryptocurrencies. It claimed that it had partnered with top card issuers like Visa and Mastercard. It also engaged top celebrities such as Floyd Mayweather, the famous boxer, and DJ Khaled as promoters of the projects to hype the fraudulent scheme and claim legality and attract investors in the crypto community.
The SEC discovered that all the claims were false and the founders, including Farkas and Trapani, were all engaging in fraudulent schemes. Hence, the regulatory authorities filed charges against them. Consequently, Frakas was jailed in 2020 and made to forfeit $347000. His jail term, which was announced on Thursday, will last for a year for participating in a fraudulent ICO program, duping unsuspecting members of the public to the tune of $25 million.
Floyd Mayweather and DJ Khaled were the proponents of the ICO
Furthermore, Floyd Mayweather, the famous boxer, and DJ Khaled, the music producer, were also found guilty by the court for promoting crypto scams. The duo was the first set of persons sued by the US regulatory bodies to promote illicit ICO. Consequently, Mayweather was slammed with a $3000,000 fine, while DJ Khaled was made to pay $100,000 as fines. The court concluded the case on Thursday by sentencing Sharma, the main leader of the group. Before the ruling, he had pled guilty, admitting that he conspired with his partners to perpetrate financial fraud, mail fraud, and deceive unsuspecting public members into commencing Centra coins.
The court judged that the first respondent, Sharma was the mastermind behind the fraudulent scheme aimed at defrauding investors and luring them to part away with their money for positive returns. Sharma deceived investors with the claim that his newly launched scheme partnered with big names in the debit card and finance industry. He also claimed that Centra coin had long-term experience in the industry.
The ICO Industry Has Recorded Too Many Fraudulent Schemes Lately
The judge added that Sharma didn’t invent anything except a phony management team, partnerships, and spurious business proposals to promote his scam and mislead innocent investors falsely. That’s not all. Besides the jail term, the judge ruled that Sharma pay $2000 and be monitored for three years after his release. After that, he was made to forfeit the entire $36 million he made from the ICO. In the meantime, the US regulatory bodies announced that they sold the Ethereum confiscated from the Centra ICO, which amounted to $33 million in January 2021. The money would be paid back to the investors who are now victims of the scheme.
In 2018, the crypto ICO sector that involves offering tokens as a store of value and future currency had its tale of victims. In the said year, a report showed that about 80% of ICOs were fraudulent schemes. Till now, the ICO industry has not been free of such scams. In a related development, the FBI seized about 100,000 Ether which was proceeds of a scam generated by raising money from unsuspecting public. The US Department of Justice will create a remission program through which they will use to compensate the victims of the crypto frauds.


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The Netherlands – The Port of Rotterdam Authority is collaborating with BigMile to create a digital platform to track transportation-related emissions in the port.
Data from the Automatic Identification System (AIS), which tracks all vessel movements, is combined with a TNO calculation model to produce a precise estimate of transportation sector emissions.
The platform can also provide information about emissions at a specific business location, and it should be able to provide companies with more information about carbon and other emission levels across their entire transportation chain. The emission platform is assisting the Port Authority and the business community in making decisions on their way to becoming a carbon-neutral port.
So far, this has only concerned a pilot project in Rotterdam to calculate seagoing and inland vessel movements. At a later time, road and rail transportation will be added. In order to clarify transport emissions from door to door, the goal for the next six months is to include emissions from supply chains en route to and leaving the port of Rotterdam. In the second half of 2022, the digital platform and knowledge gained will be shared with shipping companies and terminals.
The platform is already proving useful in terms of providing insight into things like vessel emission levels while berthed at the quay, which is useful information for developing shore power projects. When a vessel arrives at the quay, it turns off its generator and connects to shore power. The BigMile platform can show how much pollution is avoided by using shore power.
The Port Authority is working on a number of projects to make industry and logistics more sustainable, ranging from determining optimal connections via the most environmentally friendly mode of transportation to producing alternative fuels in Rotterdam and promoting quick and efficient port call handling.
The Port of Rotterdam Authority is a step closer to using sound data to manage this reduction strategy with BigMile. BigMile has created a calculation and analysis platform to assist shippers and logistics service providers in optimizing and reporting on multimodal transportation-related carbon emissions. The SaaS platform, which has over 200 users, allows shippers and logistics service providers to comply with upcoming carbon reporting requirements and carbon taxes.


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A technology “blind spot” is potentially stunting the growth of UK companies with small businesses slow to adopt new equipment, according to Lloyds.
Only half of UK businesses and charities have a website, and more than one in 10 do not have access to or use the internet, the UK Business Digital Index, created by Lloyds Bank, showed.
However, the new annual study showed more than a third of small businesses said they felt they were already doing all they could in terms of creating an online presence.
Lloyds Banking Group director for digital, marketing and customer development Miguel-Angel Rodriguez-Sola said: "Most businesses do use digital technology in some shape or form. However there is a real blind spot for many firms who are doing the basics but can't see the benefits of doing more.
"Businesses that are willing to invest for the long term could reap huge rewards from digital technology. Some of the benefits are quick wins, but businesses that really do focus on making digital technology a priority may even find that they can capitalise more easily on growth opportunities and that their confidence continues to rise."
Some 29% of the businesses and charities in the survey said that being online was not relevant to them, and experts say they believe this is down to a lack of education on the power of using technology to enhance how they work.
Gareth Wilson, a managing director in global consultancy company Accenture's Financial Services practice, said; "No matter where a business or charity is located, its size, or whether it's a new start-up or a more established organisation, the use of digital technology can help them work more effectively and efficiently.
"However, this report suggests too few are taking advantage of the opportunities that are out there, from things as simple as, basic internet access or online payments through, to more sophisticated digital security settings.”
He added: "This is not necessarily from a lack of IT skills or issues with connectivity, but often due to insufficient awareness of the real and tangible benefits that charities, small businesses and their customers could experience."
Statistics suggest that technology is becoming an increasing part of daily life in the UK, with a 2013 report revealing that access to the internet via a mobile phone has more than doubled since 2006, and that more than 70% of Britons access the internet every day.
Additional reporting by PAReuse content


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Despite its many flaws, the car has an appealing nostalgic charm. So much, in fact, that you don’t really care if the gauges don’t work or if the steering is dreadful, because it’s an Interceptor, and that’s just cool.
However, outside of a few LS3-equipped models built by an outside firm in 2011, the Interceptor exists mainly in our memories. Jensen Motors went belly-up in 1976, and the automaker has been deathly quiet since. But that may be changing.
The Jensen Group, the new owner of the Jensen marque led by former Aston Martin chief Tim Hearley, has announced a new vehicle called the GT, which will be followed by an all-new model called the Interceptor 2.
The GT, shown here in clay model form, will be hand-built in small numbers and has a targeted release date of 2016. According to the Jensen Group, the two-door will bridge the gap between the Interceptors of the 1970s and the future Interceptor 2.
“This represents the next chapter of Jensen and, as we look to the future, we want Jensen enthusiasts to help us celebrate as we unveil a completely new car and outline our plans for the future,” said Hearley.
Since the GT is still in its modeling stages, little is known about the car or the eventual Interceptor 2. Both cars will likely take design cues from their classic ancestors, though, so expect the same great looks with (hopefully) improved fit and finish.
The GT is rumored to cost around £350,000 ($540,260), but final pricing will be determined by the spec of the car and the customer’s personalization preferences. Mustache not included.
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Chinese tech giant Huawei is selling its Honor smartphone brand in an effort to rescue the struggling business from damaging U.S. sanctions imposed on its parent company, investors that said they are buying the brand announced Tuesday.
The sale to buyers including Honor retailers is intended to “save Honor’s industry chain,” the investors said in a statement issued online. They gave no financial details but said after the sale Huawei will have no ownership stake.
Huawei Technologies Ltd., China’s first global tech brand, has been battered by controls that block its access to U.S. processor chips and other components and technology. The U.S. government says the company is a security threat and might help Chinese spying, which Huawei denies.
The leader of the buyers is Shenzhen Zhixin New Information Technology Co., which was formed to build information infrastructure in Shenzhen, the southern city where Huawei is headquartered.
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Stray crowned best French video game of the year at the 4th edition of the Pégases
Les Pégases, founded by the national video game union in 2020, brings together French professionals in the sector on the model of the Césars for cinema.
The video game stray , whose protagonist is an alley cat, was named best video game of the year on Thursday evening during the 4th edition of the Pégases, which rewards the best French video game creations, on the model of the Césars for the cinema. Created by the BlueTwelve studio, based in Montpellier, straydepicts a cat in an underground city populated by humanoids and strange creatures. Using a drone, the tomcat must solve a series of puzzles to get back to the surface.
stray, which has already won a prize at the Game Awards this year (equivalent to the Oscars for video games in the United States), also won two other distinctions at the Pegasus in the categories “best first video game” and “best independent video game”. The game, available on PlayStation consoles and on the Steam PC game purchase platform, is also popular with “true” felids: on Twitter, the “Cats Watching Stray” account, which lists the most zany reactions of cats observing the adventures of the mustachioed hero, has more than 35,000 subscribers.
“To have this recognition is completely crazy”reacted on stage the production team of the game. stray won the most prestigious award, it is its competitor A Plague Tale: Requiem, developed by the Bordeaux studio Asobo and the publisher Focus Entertainment, which triumphs in the 2023 edition in terms of the number of distinctions, with four prizes. In addition to the audience award, the game, which follows the adventures of two children trying to survive in 14th century France ravaged by the Black Death, was crowned in the categories “narrative excellence”, “visual excellence” and “best universe sound”. Broadcast live on the Twitch streaming platform and, for the first time, on France Télévisions’ Twitch channel (France.tv), the ceremony took place at La Cigale, in Paris, in the presence of the Minister of Culture Rima Abdul Malak and Minister Delegate for Digital Transition Jean-Noël Barrot.
“Video games are a national pride”he proclaimed on stage, a “leisure that engages all generations”A “sector that we are keen to support” and which allows “to export our culture and our values” internationally. “The video game is a total art” Who “irrigates the whole field of cultivation”added Rima Abdul Malak, celebrating the “creative freedom” of the French video game industry compared to other countries such as China. In the other categories, Elden Ring (PlayStation, Xbox, PC) was crowned best foreign video game. The Pégase for the best mobile game was awarded to Tales Up of Periple Studio, an application development company based in Clermont-Ferrand.
Read alsoDeathloop crowned best French video game at the 3rd edition of the Pégases
Nicolas Cannasse, president of the Bordeaux studio Shiro Games, was named “personality of the year”, while his studio won the prize for “best technological innovation” with the game Dune: Spice wars. The Pégases, founded by the national video game union which brings together French professionals in the sector, have been awarded since 2020 following a vote by the 2,000 members of the Academy of Video Game Arts and Techniques. For the 2023 edition, 88 games initially competed in 19 categories. The video game is the first French cultural industry in turnover with 5.6 billion euros generated in 2021, according to the Syndicate of publishers of leisure software (Sell) which will publish the figures for the year 2022 at the end of March.


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To usher in a new era of your brand, all you need is Beyoncé and Jay-Z. The powerhouse couple has been tapped to front Tiffany & Co.‘s latest ‘About Love’ campaign – debuting a new creative direction for the luxury jeweller – and we are SO here for it.
As a brand that has continuously been synonymous with love stories, self-expression and craftsmanship, Beyoncé and Jay-Z couldn’t have been a better fit for the collaboration – they are the epitome of a modern love story.
The campaign is the result of a shared vision between both the Carters and Tiffany & Co. Whilst it explores connection and vulnerability, their love story is illuminated by a range of stunning gemstones, including the iconic Tiffany Diamond.
Worn in a campaign for the first time in history, the Tiffany Diamond weighs 128.54 carats and boasts an unprecedented 82 facets, and no doubt is the only thing that can upstage the power couple.
Previously only worn by three other people (one of them being Audrey Hepburn), the diamond is accompanied by house icons including the Tiffany T collections and designs from Jean Schlumberger – more notably, his legendary Bird on a Rock brooch reconstructed as a pair of one-of-a-kind cuff links.
The campaign is a prime example of Tiffany’s long-standing tradition of working with New York creatives as the Carters are photographed against the backdrop of Jean-Michel Basquiat’s Equals Pi (1982) – a piece of artwork that made its first public appearance through the campaign.
The official campaign film will be released on September 15. Expect to see (or in this case, hear) a tribute to the iconic film, Breakfast at Tiffany’s with a new version of the song “Moon River,” sung by Beyoncé. We can’t wait for the end result.


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Police investigate credit card fraud
MOUNT LAUREL — Police are investigating two cases of credit card fraud that occurred over the last month.
One victim reported a credit card stolen from a residence on Emery Lane between May 23 and June 10, police said Wednesday.
The card was used on several occasions, but the amounts of the transactions were not available.
A victim on Alderton Way reported a credit card stolen at 3 p.m. Sunday. The card was charged $476, but the transaction did not go through.
Anyone with information about the incidents is asked to call police at 856-234-1414.


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Lijit Networks, a provider of custom site search and advertising solutions for online publishers, has secured $10 million in financing in a round led by new investor Highway 12 Ventures. Existing backers like Foundry Group, Boulder Ventures and Colorado Fund I, managed by High Country Venture, also participated.
Lijit says transactions on its advertising services platform have grown 74 percent since Q4 2010 and that its online publisher network has grown to include more than 17,000 websites, 1.5 billion pageviews a month, and over 106 million unique visitors per month.
Lijit Networks was founded in June 2006 and has raised $28.3 million to date.
Lijit Networks, Inc. is a wholly-owned subsidiary of Federated Media Publishing. By providing innovative advertising services, audience analytics, and reader engagement tools to over 125,000 sites, Lijit helps online publishers grow their website, build their business and make more money. Lijit connects publishers with premium online advertising campaigns that are highly targeted and contextually relevant to the publisher’s audience.


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War takes toll on Bangladesh’s RMG shipment to Poland, Germany
Jannatul Ferdushy || BusinessInsider
Graphics: Business Insider Bangladesh
As Poland and Germany have been confronting economic depression stemming from the Russia-Ukraine war, Bangladesh’s apparel exports to the duos experienced negative growth during the July-October period of the current fiscal year.
According to Export Promotion Bureau (EPB) data over July-October exports, Bangladesh’s shipment to Poland fell by 27.59 percent to $398.77 million and to Germany by 2.54 percent to $2 billion.
At the same time last year, Poland had imported worth $550.71 million and Germany $2.1 billion in apparel merchandise.
However, during the last fiscal year, Bangladesh had fetched $2 billion from Poland and in ’21 FY it was $1.38 billion, respectively. However, Bangladesh fetched from Germany $5.61 billion, $7.16 billion, in the last two FYs, respectively.
“LPP S.A, a Polish multinational clothing retailer generally imports millions of dollars’ worth apparels from Bangladesh and transship those to Russia. Amid the current war, they ceased paying our exporters and the dues amounted to more than $60 million. The pending orders are being held, too,” Shahidullah Azim, vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told Business Insider Bangladesh.
EPB data shows negative export growth to Russia, as well. In the July-October period, exports to Russia decreased by 51 percent to $90.23 million while shipment in the Chinese market fell by 4.35 percent to $69.31 million.
At the same time of last year, exports to Russia had aggregated $185 million and to China $66.42 million, respectively.
Of these, woven products lost 4.29 percent and knit products lost 1.45 percent in Germany while both woven and knit apparels lost in Poland more than 27 percent in the four months of ’23 FY.
Moreover, Bulgaria has cut 40 percent, Latvia 26 percent and Portugal 3.5 percent apparel import from Bangladesh.
Although the apparel export to the EU had been affected severely, manufacturers believe that they could recover the market from next year.
“From last week, some of our buyers started coming back. Work orders are also increasing at a very slow pace. I think we will be able to recover all the dues in the next year,” said BGMEA President Faruque Hassan.
Muhammad Hatem, executive president of Bangladesh Knitwear Manufacturers and Exporters Association, (BKMEA), said “This bad time will be over but we are worried about power and gas crisis. If the government can supply those utilities, exports will increase soon.”
Bangladesh fetched $6.80 billion from the EU market during this period, gaining 10.26 percent of growth.
According to the EPB, overall exports dropped by 7.85 percent to $4.35 billion in October, this year.


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The government could this week take the unpopular measure of raising gas prices for the first time in three years as it pushes a package of reforms aimed at giving industry a boost, reviving a spluttering economy and boosting LNG imports. Full Article
Road building revival offers rare hope for India infrastructure overhaul. Full Article
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Mahindra Satyam unit in pact with African firm
MUMBAI, June 30 |
MUMBAI, June 30 (Reuters) - Mahindra Satyam(SATY.BO), formerly Satyam Computer Services, said on Wednesday its business process outsourcing (BPO) unit Mahindra Satyam BPO had entered into a partnership with Africa's Direct Channel Holding Ltd.
The financial terms of the partnership were not announced.
Direct Channel Holding is a contact centre and BPO company, it said in a statement.
(Reporting by Rajesh Kurup; Editing by Sunil Nair)
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Microsoft has revealed that they are planning on releasing a 500GB hard drive for Xbox 360 in the near future and are already taking pre-orders.
This hard drive will costs $109.99 in the States, which means that the 320GB hard drive (currently $129.99) will have a price decrease.
Now I know some of you are thinking why they are releasing this when Xbox One has been out for almost a year now. Xbox Chief Marketing Officer Yusef Mehdi had this to say…
“If you look at Xbox 360 that platform has lasted for seven to eight years and it’s going to go for another three years. We are going to continue to invest in Xbox 360 and the two devices can work in concert. In fact, we are going to ship over 100 new games on Xbox 360, so you will still be able to play your games, just not on the same exact box.”


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In the desktop era, there was Wintel. In the big data era, apparently, there will be Cloudtel (or Intera?).
Just over a year after launching its own Hadoop distribution in the United States, Intel is discontinuing it, opting instead to support Cloudera’s distribution as the preferred Hadoop distribution for Intel server environments. The microprocessor giant is backing this technology partnership with tens of millions of dollars from Intel Capital, making it Cloudera’s largest strategic investor.
Cloudera announced last week it had raised $160 million from a group of investors, after Bloomberg reported on a round rumored to include Intel and be worth more than $200 million. VentureBeat reported on Wednesday night that Intel Capital is possibly investing more than $90 million in Cloudera. Cloudera CEO Tom Reilly said on a call Thursday morning that the company expects to disclose the exact amount of its latest funding round next week, which will include Intel Capital as well as its other investors.
“Not all the leaks are accurate,” he added.
Diane Bryant, the senior vice president and general manager of Intel’s Data Center Group, noted that Intel’s investment in Cloudera does represent the company’s largest-ever equity investment in the data center space.
As I explained last week when commenting on the speculation of an Intel investment in (or acquisition of) Cloudera, the deal makes a lot of sense for both companies. Cloudera needs capital and Intel’s huge sales force to keep up its engineering efforts and grow the company internationally. Reilly specifically mentioned Cloudera’s struggles trying to expand into countries such as India and China.
Intel is actually the No. 1 distribution in China, where it began offering its distribution about two years ago — and will now start transitioning customers over to Cloudera’s software. With the Intel deal, “We solidify these huge future markets,” Reilly said.
Bryant said Intel decided to sunset its distribution because “what we want is scale,” and backing Cloudera is the fastest way to achieve that. I suspect the scale Intel really means is selling more processors, solid-state drives and other data center gear rather than trying to push enterprise software, too. Bryant noted how Intel is “driving greater and greater compute and intelligence out to the edge” as part of the internet of things, and Hadoop helps bridge the gap between all that data, the servers needed to store and process it, and the tools to analyze it.
As part of the deal, Cloudera will be an early adopter of Intel gear and will optimize its Hadoop software to run on Intel’s latest technologies. Intel will port some of its work into the Cloudera distribution and will maintain its own Hadoop engineering team that will work alongside Cloudera’s engineers to help unite the two company’s goals.
Nothing is for certain in the Hadoop space, though, and Cloudera knows this. Its largest competitors have deep pockets and large partners of their own. Companies such as IBM and Pivotal are trying to sell their own Hadoop software and services, while Yahoo spinoff Hortonworks recently raised $100 million in venture capital (and nearly $200 million in total) and has tight partnerships with Red Hat, Microsoft, Teradata and others.
For more on Cloudera’s plans, check out this interview with Reilly from our Structure Data event last week.
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