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Nokia (NOK) has a dividend yield of 4.4%, indicating an annualized payout of $0.24 per share and a dividend payout ratio of 61.2%. Peer companies Cisco (CSCO), Juniper (JNPR), and Europe’s (EFA) Ericsson (ERIC) have dividend yields of 3%, 2.9%, and 2%, respectively.
In 4Q17, Nokia’s cash outflows amounted to ~130 million euros driven by cash repurchases. The company completed its share repurchase program of 1 billion euros as well as its 7 billion capital structure optimization program, which it announced back in October 2015.
We’ve seen that Nokia expects its operating margins to come under pressure due to its accelerated 5G (fifth-generation) technology investments. The company aims to expand its EPS (earnings per share) and profit margins in 2019 and 2020. Nokia also aims to distribute between 40% and 70% of non-IFRS (international financial reporting standards) EPS to shareholders in the long term.
Nokia Technologies is the company’s most profitable segment. Nokia has stated that subsegments such as group support functions, real estate, information technology, and consumer-incubation elements have further potential for cost reduction. Nokia’s operating margin for its licensing vertical could expand to 85% by the end of 2020.
Nokia has estimated recurring annual cost savings of 1.2 billion euros in 2018, of which 800 million euros is expected to come from a reduction in operating expenses. Nokia’s chief financial officer, Kristian Pullola, stated, “In 2018, our €1.2 billion of recurring annual cost savings is expected to be partly offset by approximately €100 million of incremental expenses related to 5G customer trials. It is important to note, however, that these expenses are temporary and are mainly related to materials and deployments and are specific to 2018 and will thus no longer impact our results in 2019 and onwards.”
Correction: An earlier version of this article suggested that Nokia has a dividend yield of 3.5%, indicating an annualized payout of $0.19 per share and a dividend payout ratio of 61.2%. The correct values are 4.4% and $0.24 per share.


text: Last year I came across a news report that introduced a new camera company named LYTRO. Lytro was not entering the field to compete against the camera giants (Canon, Sony, Kodak, or Nikon) with the same technology. Lytro was introducing a completely new technology. The new technology would change how the consumer views the camera, experiences the picture taking process, and how they interact with the finish product. One of my facebook friends recently posted the Lytro website link and to my surprise the camera was finally released. The Lytro camera is not your standard camera; it has a square tube shape, therefore it also has a square picture format, and they have added interactivity with your images. Lytro’s breakthrough technology captures the entire light field, unlike traditional cameras, which only capture a single plane. This allows you to refocus your picture after the fact with a single touch, either on the camera or on your desktop. Take a look at the example below.

domain: news


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|| Print ||
|Thursday, April 15, 2010|
Brammo hoped to have its Enertia electric motorcycle in 50 Best Buy stores nationwide by now, but the road to a major rollout has been a slow one.
After launching a "pilot production" for the Enertia last year and slashing its retail price from $11,995 to $7,995, the bike is currently being stocked in just six Best Buy stores.
Read the full story at the Mail Tribune.
|The Private 150: Bigger But Leaner|
|The Perfect Food|
|Taxis Uber Alles?|
|Powerlist: Staffing Firms|
|Pfizer results beat estimates|
|Study: Running reduces risk of death|
|Zillow to acquire Trulia for $3.5B|
|Dollar Tree to buy Family Dollar|
|Facebook revenue surges 61%|
|Walmart unexpectedly fires CEO|
|GM profit declines 80%|
Vigilant enters a New Year with a new president.
How George Fox has become one of Oregon's largest private universities.
Forest Grove sees growth in the burgeoning food and beverage scene.
Lane Powell Shareholder Susan K. Eggum has been elected as vice chair of programs and projects for the International Association of Defense Counsel’s (IADC’s) Employment Law Committee.
Geffen Mesher is saddened to announce the passing of long-time shareholder, Tom “Mike” Anderson, who died on July 10, 2014, from liver disease diagnosed after recent heart surgery. He was 55 years old.
Fifteen Lane Powell attorneys have been named 2014 “Oregon Super Lawyers,” and another five attorneys have been named as “Oregon Rising Stars” by Super Lawyers magazine.


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[Interview] Neo Cab dev on the story and gameplay, Switch version, possible DLC
Posted on 10 months ago by Oni Dino(@Oni_Dino) in Interviews, Switch eShop | 0 comments
If you watched the latest Nindies Showcase from earlier in the year, you may have heard about a little game called Neo Cab. The “emotional survival game about staying human in a world disrupted by automation” will be coming to Switch in just a few days – October 3.
Earlier this year, we caught up with Chance Agency creative director Patrick Ewing to learn more about the game. Ewing chatted with us about the story and gameplay, what to expect from the Switch version, and even the possibility of more content.
Here’s our full discussion:


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Joe King of Experimac Quad-Cities, was recently profiled by Dispatch Argus. It’s a short article that talks about Joe and opening an Experimac Franchise in the Quad Cities.
Name of Business: Experimac — Quad Cities.
Proprietor: Joe King.
Business Address: 4884 Utica Ridge Road, Davenport.
Telephone Number/Website/Email: (309) 756-8667, experimac.com/blog/tag/quad-cities.
Type of Business: Sales of pre-owned computers and devices; repair and upgrade services for laptops, phones and tablets; trade-ins of existing devices; and sales of accessories and software for Apple® devices.
When Business Opened: Will open the second week of November.
Why Did You Start This Business?
I was looking for a business in retirement with minimal initial investment and something that interested my son, Kevin, and me.
Where Did You Get The Idea?
I began looking at franchises on the Internet and found Experimac by United Franchise Group.
What Was The Biggest Hurdle You Had To Overcome?
Agreeing with myself that I was too young to retire.
Is This Your First Business?
Yes. I am just retiring from John Deere as an engineering and quality manager after 37 1/2 years. My son wants to run a business and I want to help him get started as part of my retirement plan.
To Whom Did You Go For The Advice?
Experimac Franchise and the United Franchise Group people have been great teachers and support from business assessment to real estate locations.
Experimac will soon be opening in the Quad Cities. The following article features Joe King, who will soon be opening an Experimac in Illinois, with his son.
Joe King is not one of the many who quit his soul-sucking corporate job to start his own business. On the contrary, King loved his career.
“I am just retiring from John Deere as an Engineering and Quality manager after 37 years,” says King. “I had an excellent career with Deere and wouldn’t trade it for anything.”
Instead, King’s focus in buying the franchise is on his son.
“My son wants to run a business and I want to help him get started as part of my retirement plan,” says King. “I can’t fish all the time.”
King’s solution was to become a franchisee of, Experimac, the new concept that provides pre-owned computers and devices; repair and upgrade services for laptops, phones and tablets; trade-ins of existing devices; and sales of accessories and software for Apple®devices.
King says his recent move to Apple products helped convince him this was an industry he wanted to work in.
“I am amazed at the simplicity and connectedness of the products and the apps and programs,” says King. “And the translation between Windows products now is seamless.”
King has noticed he’s not the only fan of Apple’s products.
“Many people like Apple products and operating systems in spite of their premium price,” says King. “We think the idea of selling pre-owned, refurbished and upgraded Apple products will be a big hit with students and others who want Apple but don’t want to pay the premium.”
These days, everyone is on the lookout for a good deal, but not everyone wants to sacrifice quality in favor of a bargain. With Experimac, they won’t have to.


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Applications open for summer pop-up outdoor trading pitches in Adur and Worthing
Released: Monday, 08 February 2021
Local businesses are invited to apply for one of the popular outdoor trading spaces in Adur and Worthing, as the application process opens today for the summer season, which runs from April to September.
The number of trading pitches under Adur & Worthing Councils' seasonal concessions programme has been increased this year to encompass a wider range of activities. The move is intended to bring vibrancy to the area while giving local start-up and existing businesses a platform to operate safely during the COVID pandemic.
This year, the Councils hope to attract applications from a wide range of food and drink traders, as well as a new focus to attract the leisure, arts and crafts sector.
The deadline for applications, which need to be submitted online, is Monday 22nd February 2021.
Priority will be given to traders that are ready to operate from 1st April, already have a vehicle to trade from and, for food and refreshment sellers, have been given a hygiene rating. Applicants will also be asked to provide information about their sustainability and waste management practices in line with the Councils' commitment to be Carbon Neutral by 2030. Successful applicants will be informed by the end of March.
Last summer's traders, which benefited from high footfall numbers on the long stretch of seafront between Goring and Southwick, included stone baked pizza, seafood, cream teas, vegan street food and water sports activities. To support businesses to continue to trade safely in 2020, the seasonal concessions programme was extended into the winter months.
Cllr Kevin Jenkins, Executive Member for Regeneration for Worthing Borough Council, said:
“The pop-up food and drink traders have been a much-welcomed addition to our seafront and towns during lockdown, serving refreshment in a safe and socially-distanced way to local residents when taking exercise. We're looking forward to welcoming traders to our seafront this summer and providing a wider offer for everyone.”
Cllr Brian Boggis, Executive Member for Regeneration for Adur District Council, said:
“As we look to move forward from the pandemic, we anticipate that our coast will once again be a popular destination for holidaymakers and day visitors. We're delighted to be able to use our outdoor spaces creatively to be able to support local businesses to trade during these challenging times.”
To find out more and apply for a seasonal concession licence see:
Photo: Relay, one of the pop-up traders this season has been serving refreshments from a pitch next to Shoreham Toll Bridge
Need assistance? Get in touch:
Public Relations & Communications
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Page last updated: 10 June 2021


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Europe’s PSI Show Comes To Düsseldorf January 7-9, 2020
The PSI Show, Europe’s largest promotional products industry trade show, is celebrating its 60thanniversary in 2020. Running January 7-9 in Düsseldorf, Germany, the PSI Show will be held concurrently with viscom, the international trade show for visual communication, and PromoTex Expo, the international trade show for promotion, sports and workwear.
While admission to the three trade shows is limited to accredited industry professionals and PSI members, distributors can invite their clients to the shows as well. What’s new this year is that distributors will be able to decide which of the three trade-show days they would like to invite their clients to visit. PSI Managing Director Michael Freter says, “This is what the PSI Advisory Board of Distributors and Exhibitors has agreed on with a broad majority. It is up to the distributors to decide whether marketers take part in the trade show or not. If they don’t invite their customers, there won’t be any marketers in the trade-show halls.”
The PSI Show will be held in halls nine to 12 of Düsseldorf’s exhibition center. viscom will be held in Hall 13, while PromoTex Expo will occupy parts of Hall 12, moving it closer to PSI exhibits compared to the previous year. Event Director Petra Lassahn says, “On the one hand, this move allows us to preserve the independence of PromoTex Expo within this alliance and, on the other, to ensure the proximity with PSI called for by the market. Upon the request of both exhibitors and visitors we will already be implementing this adjustment in 2020 and, hence, one year earlier than planned.”
The PSI Show will also provide a platform for winners of the PSI Sustainability Awards, who will be recognized in Wiesbaden on September 6, 2019. At the show, award recipients will demonstrate just how sustainable the promotional products industry already is and connect with others in the market to launch initiatives, campaigns and products that serve as ecological, economic and social role models.
Click here for more information.


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Police are asking for help to identify a woman suspected of stealing a handbag and fraudulently using the owner's bank card alongside 12 other CCTV appeals.
Officers received a call saying a woman's handbag had been stolen and her bank card had been subsequently used for a number of contactless transactions.
The offences took place at a number of stores in Lightwood Road, Longton, on July 18. The crime number is IZ/55294/19.
Staffordshire Police have also issued a number of other appeals to identify suspects wanted in connection with several other offences.
Since the police linked up with StokeonTrentLive for our Wanted feature, officers have tracked down a number of individuals and the force has been able to secure a number of successful prosectutions.
This man is suspected of shoplifting from Millets at Trentham Shopping Village on July 12. Crime number: FZ/53585/19.
This man is suspected of stealing from B&M at the Wolstanton Retail Park on July 19. Crime number: IZ/55899/19.
This woman is suspected of shoplifting from Aldi in Victoria Road on july 15. Crime number: IZ/54922/19.
This man is suspected of stealing bottles of alcohol from a shop in Kidsgrove on July 3. Crime number: IZ/50931/19.
This woman is suspected of stealing a quantity of meat from a display in the Co-op store in High Lane on June 23. Crime number: IZ/47916/19.
These men are suspected of shoplifting from the High Lane Co-op on June 30. Crime number: IZ/50159/19.
This man is suspected of running off after crashing his bicycle into a resident's car as they pulled out from a driveway on June 19. Crime number: SP/20190619/0515.
This woman is suspected of shoplifting from the B&M store in Stone on July 18. Crime number: FZ/55369/19.
These women are suspected of stealing a variety of goods from the Tesco Express store in Higherland, Newcastle on June 22. Crime number: IZ/47644/19.
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TURLOCK, Calif. -- Fifteen years ago, Anto Baghassarian had a small East Hollywood shop where he processed blocks of mozzarella into the string cheese he learned to make at his family's business in Lebanon.
Now his Karoun Dairies Inc. operates a plant in the state's dairy heartland, turning a couple silos of milk each day into about 16,000 pounds of feta, queso fresco, and other exotic cheeses adapted for American palates.
Aided by an abundant supply of milk, an increasing nationwide appetite for cheese, and some savvy marketing, manufacturers such as Karoun are contributing to a production boom that could soon propel California past Wisconsin to become the nation's top cheese producer.
California is now the home of Hilmar Cheese Co. near Modesto, the world's largest single-site, cheese making operation. Every day, the plant churns out more than a million pounds of cheddar, Monterey Jack, and mozzarella cheeses that are sold under a variety of brand names.
Last year, California turned out 2.14 billion pounds of cheese -- nearly a quarter of the nation's supply. The total marked a huge increase from 1985, when the state had only about 7 percent of the national market.
The growth has put California within striking distance of the 2.4 billion pounds made each year in Wisconsin.
Wisconsin's share of the growing national cheese market has fallen from more than a third in 1985 to just over a quarter last year.
Wisconsin, which lost its title as top milk-producing state to California in 1993, is nowhere near surrendering, said Patrick Geoghegan of the Wisconsin Milk Marketing Board.
Geoghegan said Wisconsin's 1,300 licensed producers make 600 varieties of cheese, compared to the 250 offered by California's 55 producers.
"Bearing the title 'America's Dairyland' is about more than just producing the greatest amount of commodity cheese," he said. "It's about cheese quality, quality, quality."


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From Home Furnishing Business
Corsicana Mattress Improves Customer Experience with Major Overhaul
Throughout the past year, Mark Jannke, senior vice president of operations and product development at Corsicana Mattress, has been tasked with leading a major overhaul of plants and products. His mission: Maximize value across the organization to improve total customer experience.
Among Jannke’s first moves was narrowing the number of suppliers with an emphasis on working with domestic companies. “At one point during the supply chain disruption we were purchasing from seven different spring manufacturers,” he said.
“We’re down to two now. That has allowed us to set standards for the raw materials we buy across the board, whether it’s foam, innersprings or fabrics. And that means we
hold our suppliers accountable in terms of their product quality and on-time delivery, resulting in huge benefits for our customers.”
As for how moves like these have affected the product development side of his job, Jannke said, “Streamlining raw materials suppliers means that the product development team now have the opportunity to work more closely with these suppliers to search for new innovative designs.”
Right-sizing and updating facilities across the country has also included creating consistency in process with major investments in new equipment (think automated conveyor systems, the addition of automated glue bridges, and multiple roll-pack machines in every plant).
“When Eric Rhea, our chief executive officer joined the company, his charge was to work with him to reinvent Corsicana and return the company to its roots as the nation’s foremost value mattress supplier,” Jannke said. “The time and investments spent to achieve those goals is now paying off.”
Indeed, said Rhea, “Mark has an unbelievable wealth of knowledge in developing products and processes and has done a tremendous job to help create a dynamic organization that is able to consistently service our customers effectively and efficiently.”
“The feedback we’re receiving from our dealers is that they are noticing the difference in both product and delivery and are very positive about Corsicana’s direction moving forward.”


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Wincanton continued its strong performance in its fourth quarter of trading, with underlying revenue now expected to be around 15% ahead of last year.
In its latest trading update in advance of its full year results in May, Wincanton said its digital and e-fulfilment sector had been bolstered by the start-up of new business for Dobbies and Dwell, as well as the commencement of operations at its London customer fulfilment centre for Waitrose.
An increase in public sector activity, notably on contracts relating to inland border clearance services and Covid-19 testing kit storage and distribution translated into year-on-year growth of around 10%.
Wincanton said its grocery and consumer work remained strong, even against a “challenging” comparison with Q4 2019/20, when panic buying in the early weeks of the pandemic boosted volumes.
The 3PL giant said its strong performance during the period enabled it to repay £5.8m of government support received under the job retention scheme to protect jobs during the pandemic.
- Wincanton secures three-year full service contract with garden products supplier
- MT Awards 2020: Wincanton nails it for Screwfix to win the Operational Excellence Award
- Wincanton Q3 revenue growth driven by digital and e-fulfilment
The leasing of a second e-fulfilment facility in Rockingham, Northants has also helped it to secure business with B&Q and online furniture retailer Snug and shows the group’s focus on the high-growth e-commerce market.
James Wroath, Wincanton chief executive, said: “Wincanton has delivered another strong performance, maintaining our positive momentum throughout the final quarter of the year.
“Our people have met the challenges associated with operating in another lockdown and it is very satisfying to see all four parts of the business in growth and contributing positively to the group.
“We are also delighted to have expanded our e-fulfilment capabilities and capacity further with our new site in Rockingham.
“This serves as a marker of our ambitions to capitalise on the growth opportunities presented by the increasing prominence of online retail.”


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Hollywood Entertainment's solid market share of the video retailing industry provides support to the new $250 million credit facility, despite the company's subordinate ranking to industry-giant Blockbuster. Hollywood controls 11% of the market share, compared to Blockbuster's 40% share. But, "The rest of the market is pretty fragmented," said Diane Shand, Standard & Poor's analyst. The rating agency has assigned a BB- rating to the credit.
Moody's Investors Service has also signed off on the credit with its corresponding prospective rating of Ba3. While the new credit increases Hollywood's near-term debt, Moody's notes that it will also push out the company's debt maturities and improve its liquidity in the intermediate term. The new financing package for Hollywood also includes a $200 million issue of senior notes rated B- by S&P and B3 by Moody's. The new financing is tagged to refinance existing debt.
In addition to its market position, Hollywood's operating performance is expected to strengthen. "We think the performance will improve over the next few years due to better store execution," noted Shand. She explained that the management is taking on new initiatives such as the expansion of its Game Crazy departments, an in-store mart where customers can buy, sell and trade video games. As operating performance improves, credit protection measures are also likely to improve. Currently, Hollywood's interest coverage ratio clocks in at 1.9 times and its leverage ratio reaches a high five times.
Competitive factors in the industry have put pressure on the ratings for the Wilsonville, Ore.-based company. For a number of years, Hollywood studios have been offering films at low prices to encourage consumers to purchase new DVDs as well as videos, instead of rental, explained Shand.
|Other Newly Rated Deals*|
|Hollinger International Publishing||$310 million||Ba2||Moody's|
|O' Charleys||$285 million||Ba2||Moody's|
|Raytheon Aerospace||$189 million||B1||Moody's|
|Sovereign Specialty Chemicals||$40 million||BB-||S&P|
|* Thurs, Dec. 5 through Wed, Dec. 11|


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Ready Pac Foods is offering a recipe promotion in November on Pinterest, Facebook, Instagram and Twitter.
The promotion, 30 Days of Fast Fall Meals, features recipes that can be prepared in less than 20 minutes.
Irwindale, Calif.-based Ready Pac has a fast fall meals section on its Pinterest site.
The campaign is in part, according to the shipper, a response to Mintel Group’s October Fruit and Vegetable Report, which found consumers want more fruit, vegetables and whole grains in their meals, plus more portion options. About six in 10 Americans acknowledge they could eat healthier, a National Grocery Association study reported.
“With recipes like our warm savory spinach salad or spicy Asian chicken and noodle soup, you can help your family maintain their daily recommended fruit and veggie intake,” Tristan Simpson, senior director of marketing and corporate communications at Ready Pac, said in a news release.


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The Senate has voted to impose tough new limits against sending unwanted commercial e-mails, but supporters warned computer users not to expect any immediate end to offers for prescription drugs, cheap loans, herbal remedies and pornography.
THE “CAN SPAM” bill, approved Wednesday by a 97-0 vote, would outlaw the shadiest techniques used by many of the Internet’s most prolific e-mailers, who pump out millions of unsolicited messages daily.
The bill, sponsored by Sens. Conrad Burns, R-Mont., and Ron Wyden, D-Ore., would prohibit senders of unsolicited commercial e-mail from disguising their identity by using a false return address or misleading subject line. The legislation also would prohibit senders from harvesting addresses off Web sites and require such e-mails to include a mechanism so recipients can indicate they do not want future mass-mailings.
A provision proposed by Sen. Charles Schumer, D-N.Y., authorizes the Federal Trade Commission to establish a do-not-spam list, similar to the agency’s popular do-not-call list of telephone numbers that marketers are supposed not to call. The Direct Marketing Association opposed that provision and has described it as “a bad idea that is never going to work.”
The Bush administration supports the bill, although similar legislation has stalled in the House.
“Kingpin spammers who send out e-mail by the millions are threatening to drown the Internet in a sea of trash, and the American people want it stopped,” Wyden said. Acknowledging problems with e-mails sent from overseas, he urged other countries to approve similar limits.
Burns said time spent by consumers wading through unwanted messages and the costs to businesses and Internet providers delivering them were “escalating and wide-ranging.” Under the bill, he said, “people will think twice before they send it, and that’s the answer.”
The bill also requires commercial e-mail senders to include their physical address, along with a clear notice that the message is an advertisement or sales pitch.
Despite the vote, senators cautioned computer users not to expect an immediate end to overflowing inboxes.
“The odds of us defeating spam by legislation alone are extremely low, but that does not mean we should stand idly by and do nothing about it,” said Sen. John McCain, R-Ariz., chairman of the Senate Commerce, Science and Transportation Committee.
Violators could be sentenced for up to three years in prison under an amendment by Sens. Orrin Hatch, R-Utah, and Patrick Leahy, D-Vt. Their provision explicitly prohibits spammers from, among other practices, hacking into computers to use them as surreptitious relay points to disguise the origin of unwanted e-mails.
Hatch said the bill cracks down on unwanted e-mails “without unnecessarily burdening legitimate electronic commerce.” The bill was supported by some leading technology companies, such as Microsoft Corp. and Time Warner’s America Online. AOL said it blocks roughly 2.4 billion unwanted e-mails daily from subscribers.
Technology companies have developed increasingly sophisticated software to filter unwanted e-mails, but legislation would give consumers one more tool to combat spam. The term was applied to unwanted e-mails after a 1970 Monty Python skit in which an exasperated restaurant customer is urged to order the canned meat product until she screams, “I don’t want any Spam!”
Sens. John Edwards, D-N.C., John Kerry, D-Mass., and Daniel Inouye, D-Hawaii, missed Wednesday’s vote.
© 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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A new study just released by “Third Way” considered to be a centrist think-tank found many gun buyers were shopping online specifically to avoid background checks. The weapons they were after included so-called assault weapons. The study’s findings are that many of those particular weapons are for sale online right now.
The focus of the study was a site named “Armslist.com” which is a very popular web site that is similar to Craigslist.org. It connects private sellers of firearms and ammunition based on location with buyers. The study focused on the listings in 10 states in which the senators voted against a background check compromise this past spring in Washington.
The study found that on any given day as many if not more than 15,000 guns were for sale on the internet in those states and that as many if not more than 5,000 were of the semi automatic variety. Many of the private online sellers advertised a great number of weapons for sale at the same time. The study showed that one person in Arkansas had 22 separate guns listed for sale, while others in Ohio and in Nevada had 21 different guns for sale online. Clearly the marketplace for firearms on the background checkless Internet has become a much greater threat than the gun show loophole.
Of course the NRA and the gun lobby have stood in the way of more effective background checks because they say they believe it will not stop the most dangerous citizens from getting their hands on guns and will lead to a gun “registry.” Many others say that the NRA is only interested in protecting the huge profits of the weapons industry who are seeing a historic influx of revenue as they pump paranoid propaganda into the public ear.
In spite of that advocates of more effective controls have fought hard to close the gun show loophole where criminals and even terrorists seeking weapons without background checks do their shopping. 17 states have recently closed the gun show loophole and it is clear that law enforcement has methods to check to make certain that the sales do not continue.
The Brady Law initiated a background check system but not for private or online sales. The recent compromise background check bill drawn and put forth by Sens. Joe Manchin (D-W.Va.) and Pat Toomey (R-Pa.) was created to require background checks for online sales, but the legislation was blocked by the gun lobby politicians in Washington DC. Therefore online sales go on without the checks and no one has the ability to verify who is buying high powered and semi automatic weapons online.
Third Way presented the new study to illustrate the magnitude of online sales of guns in hopes an informed public will convince these politicians to change their position concerning online sales or if that fails to vote them out of office in the next election.
At the same time another enraged killer / gunman, this time in Pennsylvania, was stopped by unarmed citizens who tackled the assailant and used his own gun on him. This points out that guns are not the answer to every situation and that even when armed your gun can be taken away and used against you.


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Company co-founder ‘Pony’ Ma Huateng is working to expand Tencent’s operations beyond China.
Which tech company has a bigger market cap than Cisco or HP, more users than Twitter and more sales than Facebook?
You’ll find the answer in China, where Tencent has been spinning a web of mobile, telecom and online retail businesses that rank among the largest in the world.
Founded in Shenzhen 15 years ago, the company offers everything from online and mobile games to search, software development, e-commerce and instant messaging.
It’s best known as the operator of QQ, a desktop messaging service, which counts 816 million monthly active users. The company’s mobile messaging app, WeChat, now has 272 million monthly active users.
Tencent is also one of the best performing stocks of the past decade, increasing more than 12,200% since listing in Hong Kong in 2004. The firm now boasts a market cap of $120 billion — more than McDonald’s (Fortune 500), , Boeing (Fortune 500) or , American Express (Fortune 500). ,
While it may seem strange to not have one standout product, Tencent executives say the “platform” approach allows them to operate something of a one-stop Internet stop — with little incentive for users to go elsewhere.
Unlike some of its Internet rivals — including Twitter (, )Google (Fortune 500) and , Facebook (Fortune 500) — Tencent does not depend on advertising revenue. Instead, the company has mined a rich seam by selling virtual products to legions of online gamers eager to upgrade their interactive experience. ,
Co-founder and CEO ‘Pony’ Ma Huateng shows no signs of slowing down. He is pushing Tencent into new businesses such as insurance and banking, traditionally the domain of massive state-owned enterprises in China. Success in these areas could reshape the country’s economy.
Yet Tencent is not without rivals in China.
It has spent heavily in recent years to help cement its place in the market, including making investments in companies like taxi-hailing service Didi Dache.
Tencent is largely unproven beyond China’s Internet firewall, which shields it from the full force of global competition.
Analysts say the company will have to demonstrate over the long-term that it can go head-to-head with foreign firms on their home turf.
Still, Tencent does not appear to be intimidated, and is promoting WeChat across Southeast Asia. The app has also gained a foothold in Saudi Arabia and Mexico.
The Chinese firm is also probing for entry points in the American market, having made a $150 million investment last year in e-commerce firm Fab. Tencent is thought to be among the suitors exploring a purchase of Snapchat, putting the company up against Facebook and other Silicon Valley titans.


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In 2017, Volvo Cars announced that they will be partnering with Google to develop a next-generation Android-based infotainment system. Twelve months later, the Swedish premium carmaker has released new details and a teaser video of what the new operating system can provide.
Built upon Volvos Sensus user interface, the new infotainment system gets a similar portrait layout screen – a key element as the company is working to allow existing Sensus system to be updated with the new software. Customers can expect features such as integrated voice-controlled Google Assistant, Google Play Store, Google Maps and other Google services available in their cars.
Senior Vice President of research and development at Volvo Cars, Henrik Green said: “Bringing Google services into Volvo cars will accelerate innovation in connectivity and boost our development in applications and connected services. Soon, Volvo drivers will have direct access to thousands of in-car apps that make daily life easier and the connected in-car experience more enjoyable.”
Google Assistant – Google’s version of Siri – allows drivers to control in-car functions such as climate controls, multimedia settings and even send messages, all by saying “Hey Google”. Volvo is also working on developing dedicated apps, software and connected services that are compatible with the new system.
The first Android-based Sensus infotainment system is due to be available on Volvo Cars “in a couple of years”, although last year Volvo announced that the system is set to debut within the next two years. Either way, it’s exciting times ahead for Volvo, question is, any chance this tech will trickle down to Proton Cars…?


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Located off junction 15 of the M6, the site offers a number of facilities aimed at improving the customer experience, including a large car park, car wash, wi-fi lounge and on-site Starbucks coffee franchise.
The dealership will accommodate up to 16 new and 70 used cars, with a separate Mini showroom housing eight vehicles.
Knights expects to boost sales by 350 new and used BMWs and 200 new and used Minis, taking sales to 2,500 vehicles in the first year.
David Vickers, Knights’ operations director, said: “We have invested in areas which we feel will benefit the customer most. It is important to be able to adapt to meet changing needs.” Knights plans to relocate its south Staffordshire dealership to a similar facility within the next 18 months.


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The negotiations to conclude a services and investment deal under the free trade agreement (FTA) between India and the Asean countries have hit stonewall.
According to a senior commerce department official, talks between India and the Association of South East Asian Nations (Asean) - the 10-country trading bloc - have hit a roadblock, with some of the advanced developing countries demanding greater flexibilities from India.
Under the services sector, India had been demanding greater opening in the Mode IV category to ensure that professionals like doctors, nurses, chefs, accountants get more job opportunities in Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam - that makes the Asean bloc.
"It is stuck as of now. On the one hand, countries such as Thailand, Indonesia and Philippines are not ready to give us anything. On the other, they want us to give them those flexibilities which we have offered to other countries with which we have negotiated bilateral trade agreements," a senior commerce department official said.
While India is ready to flex its muscles with countries like Laos and Cambodia, which are relatively poor, it is not going to "compromise with others", the official said.
The government had earlier indicated that the services and investment deal would be concluded by this year-end.
Vietnam, Thailand and the Philippines are especially concerned with India's expertise in various sectors such as telecom, IT, hospitality and healthcare among others with a qualified English-speaking human resources pool. India is the 10th largest services exporter in the world, while Asean is a net importer.
India and the Asean countries had earlier decided to have a broad-based comprehensive economic partnership agreement (Cepa) encompassing trade in goods, services and investment.
The goods deal was agreed and signed last year. The agreement will allow doing away with at least 80 per cent import tariffs in a phased manner between 2013 and 2016. The tariffs on sensitive products will also be slashed by five per cent by 2016.
The deal will also help India in reducing its dependence on China as it will be able to access the vast and thriving markets of the 10 Asean countries.
Earlier this year, during the India-Asean summit in Hanoi, Prime Minister Manmohan Singh had announced visa-on-arrival facility for citizens of Cambodia, Vietnam, Philippines and Laos.
He had also emphasised the need to speed up the finalisation of a free trade agreement in services and investment between India and South East Asian nations.
Asean is India's fourth largest trading partner after EU, US and China with bilateral trade of more than $40 billion in 2009-10.


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Read the full story by Kirk Kardashian, originally published by Tuck School news.
The American soft-drink companies reacted predictably to New York City Mayor Michael Bloomberg’s recent proposal to ban the sale of sugary drinks larger than 16 ounces: with a sassy marketing campaign. “This is about protecting our freedom of choice,” a New York-accented actor declares in a new radio advertisement produced by the industry coalition New Yorkers for Beverage Choices. “No one tells us what neighborhood to live in or what team to root for. So are we going to let our mayor tell us what size beverage to buy?”
In a way, social marketing expert Punam Keller is on their side. “I’m not big on bans,” she says.
Keller, the Charles Henry Jones Third Century Professor of Management at the Tuck School, doesn’t doubt that Bloomberg’s heart is in the right place. After all, more than 50 percent of New York City residents are overweight or obese, something the health commissioner blames in part on the increased size and consumption of sweetened drinks over the last 30 years.
Instead, Keller disagrees with Bloomberg’s method. Years of researching consumer information processing and choice behavior have led Keller to one confident, albeit inconvenient, conclusion: “If you ban something, people want it more,” she explains. A better way to discourage harmful behavior, she has found, is to combine persuasive pricing and labeling with segmented marketing.


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An online presentation by beloved indie developer Devolver Digital is set to premiere next week, showcasing new game reveals, announcements, and surprises.
But that’s not the best part: The stream will be presented by “Devolver Digital’s beloved mascot, star of all your favorite Devolver games, spin-offs, and shows,” Volvy!
You remember Volvy, right?
Still not ringing any bells? Don’t worry, there’s an explanation for that: Volvy didn’t exist as a character until today. Devolver certainly nailed the ‘90s aesthetic well enough to make us second guess that, though!
The Devolver Direct will air on June 8th at 3 p.m. PT as part of Summer Game Fest 2023.
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After a contentious midterm election season, conservatives and leftists have finally found one thing they can agree on: Amazon’s HQ2 deal to open two new 25,000-person headquarters in New York and outside Washington, D.C. is a bad idea. To recap, Amazon launched
This article was originally posted at The Hill and co-authored by Jane Robbins, an attorney and senior fellow at the American Principles Project. “The swamp” has become a catch-all term for what’s wrong with Washington. The word — also known as the administrative
This article is part of a series focusing on Lens of Liberty, a project of the Vernon K. Krieble Foundation. Did you know that some of your hard earned tax dollars are being used to fund wealthy corporations like Walmart and Google?
Recently, liberal New York state assemblyman Anthony Brindisi stirred controversy by claiming that Rochester-based ‘Genesee Brewery’ was using state tax dollars to purchase Chinese fermentation tanks. While Brindisi is outraged that Genesee didn’t ‘Buy American’ when expanding their brewing capacity, the assemblyman’s


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Sales of medium and heavy trucks in India fell 30% in November, the steepest drop since the global financial crisis peaked in 2008-09.
The Economic Times of India said slowing industrial activity, curbs on mining and delayed infrastructure projects forced buyers to postpone purchases which have fallen to their lowest since March 2009, despite the highest ever discounts available.
Tata, India’s largest truckmaker, reported a 40% year on year drop for November with sales of 9,495 units compared with over 16,000 units.
The company said it was operating at 70-75% of capacity to avoid an inventory pile-up. Suppliers say there is underused capacity of around 30-35% across the sector.
Dealers told ET November was one of the worst months in a long time and the outlook remains bleak for December. Despite big discounts and 100% finance, trucks are not selling.
It is thought that sales may not pick up until the second half of 2013.
The mining ban in India has taken a big toll on medium and heavy duty tipper truck sales because major iron ore, sand and coal mines remain closed.
As well as heavy discounting, Tata and Ashok Leyland have started aggressive advertising.
In the current fiscal year from April to October, medium and heavy duty truck sales fell 17.67% to 133,000 units. For the first seven months, Tata sales dropped 23.10%.


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Is a loss for Apple also a loss for book buyers? Maybe:
“With Borders dead, Barnes & Noble struggling and independent booksellers greatly diminished, for many consumers there is simply no other way to get many books than through Amazon,” reporter David Streitfeld wrote. “And for some books, Amazon is, in effect, beginning to raise prices.”
Amazon denied the claim, saying the company was in fact lowering prices. And Streitfeld acknowledged the difficulty of getting any comprehensive data to confirm the existence of a trend. Whether Amazon is at this moment pushing prices up or down, however, is not all that important. What matters is that Amazon could start curbing its storied discounts on books, and no one else — not publishers, not authors, not other booksellers — could do much to stop them.
“Amazon is by far the most powerful force for price-setting in the book business,” says Mike Shatzkin, a publishing veteran who now works as a consultant focused on the industry’s digital future. “The publisher’s price doesn’t mean nearly as much as Amazon’s price—particularly in this day and age when people walk into the bookstore with Amazon’s app on their phone.”
Here’s the short history of bigtime ebooks. Amazon used its size and pricing power to strongarm publishers into accepting a $9.99 retail price, even for new releases by big-name authors. That’s good for consumers. But Amazon also used that pricing power to lock consumers into Amazon’s proprietary Kindle format. That’s less good for consumers.
Apple came along with the iPad with its iBookstore and offered publishers a different deal. They said, “We’ll let you set your own prices if you’ll publish on our format, too.” Higher prices is not so good for consumers. And maybe not so good for publishers, either — because I find I’m buying fewer ebooks. $9.99 is an impulse buy for me, but $14.99 isn’t. On the other hand, consumers get more choice on how to read their ebooks, which is nice. Or at least it would be if prices would drop again.
What happens next? Bunches of unintended consequences, probably.
This is yet another example of why I’m wary of anti-trust to solve any kind of market problem. Courts picking winners and losers is no better than Congress or the President picking them.
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PULSE study shows Target data breach impact
June 26, 2014 – A study from ATM network PULSE shows the impact on credit unions of retailer data breaches, particularly the huge Target Corporation breach, as NAFCU continues to press the case for action on national data security standards for retailers.
The study shows that in 2012, 3 percent of credit union cards were affected by fraud; this number rose to 16 percent in 2013, with 14 percent resulting from the Target breach. By comparison, the number of cards affected at large banks rose from 7 percent to 14 percent that year, with 10 percent resulting from Target. At small banks, the number of cards affected rose from 5 percent to 12 percent, with 9 percent resulting from Target.
The study also found that credit unions suffered larger losses than others: credit unions had a loss of 7.2 basis points on signature debit transactions, and 0.2 points on PIN authenticated transactions, compared to the debit issuing industry overall losing 5.7 and 0.7 basis points respectively.
Last week, NAFCU President and CEO Dan Berger wrote an editorial in the Huffington Post highlighting the effects of data breaches on consumers. Berger pointed to the numerous retailer data breaches that have occurred in the six months since the Target breach, and he reiterated the association's call for national data security and breach notification standards for retailers.
NAFCU was the first financial trade association to call for a national data security standard for retailers in the wake of the Target breach and continues to push for action on Capitol Hill.
Get daily updates.
Subscribe to NAFCU today.


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5pm: British farmer and Countryfile presenter Adam Henson has said that dairy alternatives such as soy milk, are ‘disastrous’ for the environment.
Mr Henson claims that people are choosing the non-dairy products as a ‘knee-jerk reaction’ to content they see on social media.
He said that those who truly care about the environment should actually be drinking cow’s milk.
Mr Henson told Radio Times: ‘My partner is vegetarian and so is my daughter. But what we discuss around the kitchen table is choosing the right products.
‘So, if you’re drinking soya milk, that might have come from South America and caused deforestation, the destruction of species, the displacement of indigenous people.’
The TV personality, who has previously made a series of promotional videos for the dairy farming industry, suggested that people were being misled by the likes of Instagram influencers who promote the idea of plant-based diets without doing their research into the origins of products.
Some popular alternatives to dairy products, such as almond milk, have a very negative impact on the environment. A single glass of almond milk requires 74 litres of water during its production process.
Mr Henson laid his argument out in the Radio Times, saying: ‘Avocados and almond milk are disastrous for the environment. It isn’t a simple argument.
‘Beef, sheep and dairy farmers are having fingers pointed at them quite a lot about health and climate change, but the industries are doing a huge amount about that. So, I would urge people to eat British food and don't buy cheap food from abroad.
‘It’s about understanding where your food comes from and making informed choices, not having a knee-jerk reaction because you’ve read something on social media.’
The Countryfile presenter, who owns and runs a 1,600 acre farm near Cheltenham in Gloucestershire, also said: ‘You’re better off drinking milk from a local dairy farm that’s been bottled there and delivered to your doorstep, where cows are wonderfully looked after and the family contributes to the local society and economy.’
However, Mr Henson did not acknowledge the environmental damage caused by the production of dairy milk. A 2018 study by the University of Oxford found that a glass of dairy milk results in the emission of almost three times more greenhouse gases than any form of plant-based milk.


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New Sonic the Hedgehog games coming in 2013!
And that is plural, because Sega have mentioned not only one boxed game sold in stores, but also what I presume is multiple digital titles starring the character. Here’s the original quote about it from Sega’s head of brand licensing:
Over the next year there will be a big focus on the expansion of [Sonic licensed] toy distribution across Europe.”
Similarly, we will also be growing the apparel, publishing and stationary categories. We will have several new digital titles launching as well as a new boxed game, so there will be plenty of opportunities to link marketing campaigns across games and merchandise.
In other words, Sega is focusing more on Sonic the Hedgehog next year, so it seems like the fanbase for the series can rest easy knowing their favourite franchise is getting some new games. Will these be on Wii U or 3DS? Hard to tell, they haven’t mentioned anything about the possible systems said titles will be on. But yeah, at least one new Sonic game coming in 2013.


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Looking for an amazing gift for a birthday or holiday, or perhaps a treat or new gadget for yourself? The As Seen On TV collection from HSN features some of our most incredible items from a wide range of categories. From premium cosmetics and grooming supplies that will have you looking stunning on date night, to handy electronics that will make everyday tasks easier, to gear for both working out and relaxing, there's literally something for everyone in this innovative selection of As Seen On TV products.
Amazon's state sales tax collection policy has changed over the years since it did not collect any sales taxes in its early years. In the U.S., state and local sales taxes are levied by state and local governments, not at the federal level. In most countries where Amazon operates, a sales tax or value added tax is uniform throughout the country, and Amazon is obliged to collect it from all customers. Proponents of forcing Amazon.com to collect sales tax—at least in states where it maintains a physical presence—argue the corporation wields an anti-competitive advantage over storefront businesses forced to collect sales tax.
As it stands today, Amazon employs more than half a million people, more so than any other technology company in the country and second only to Walmart in the US. But the eventual result of its investments in robotics and AI is that technology’s biggest and fast-growing workforce could see that growth start to slow and, perhaps years down the line, even shrink as robots tackle ever more complicated tasks. In the process, the company may develop robots for use outside its fulfillment centers. Amazon has already changed how we shop and, by extension, how we live our lives. Its next big step could be changing how we work.
Jump up ^ "Pitch Perfect". On The Media. January 1, 2010. Archived from the original on 2010-01-09. Retrieved 2010-01-16. He figured out that he could build brand recognition by blanketing the airwaves with cheap direct-to-consumer commercials, and then take the product into retail stores where he slapped an "As Seen On TV" logo on them, which he designed himself. It’s a very lucrative formula, he told me, so that’s what he’s been doing ever since.
In the course of a single generation, Amazon has grown from fledgling online bookseller to one of the most valuable and powerful corporations in modern history. The empire of CEO Jeff Bezos has grown so vast that critics, overseas regulators, and Washington politicians are all now wondering whether the company has become an unstoppable force, and what, if anything, is capable of reining in its reach. A recent spat with Sen. Bernie Sanders (D-VT) resulted in a minimum wage hike for tens of thousands of employees, but Amazon still operates largely without any meaningful checks on its power even as it aggressively expands into physical retail, the smart home, and warehouse and aviation robotics.


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Ljubljana, 04 June (STA) - Tourism is an important part of Slovenia's economy which will help shape the country's development in the future, Economy Ministry State Secretary Darja Radic said on Friday as she addressed the 2010 Slovenian Incoming Workshop, a three-day event put on by the Slovenian Tourism Board (STO).
The government will build Slovenia's development on high-tech services and tourism will complement them nicely, she said. There are not that many job opportunities in high-tech services, while tourism can create many new jobs, she explained.
Head of the Tourism Directorate at the Economy Ministry Marjan Hribar said the ministry was striving to boost the competitiveness of tourism and its scope. He highlighted a public tender, published in May, which offers EUR 4.2m for organisation of regional tourist activities.
The ministry also proposes that tourism development funds would no longer come from casino licence fees but that 1% of tourism revenues be allocated to development. "We believe tourism should cut its own cake. The more successful we all are, the bigger the opportunities for development," Hribar said.
The ministry will publish shortly a public tender promoting themed tourist packages on the national level, for which EUR 1m will be earmarked. Hribar also said there would be no cuts in tourism development funds in this year's supplementary budget.
According to Hribar, the ministry will design a new strategy for tourism, which will aim towards green tourism.
STO head Dimitrij Piciga said this year's Slovenian Incoming Workshop was based on green tourism, while 2010 and 2011 would be dedicated to the setting up and marketing of green tourism.
As part of the 2010 Slovenian Incoming Workshop, the entire Slovenian tourism industry will be presented to foreign partners by Sunday.


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Fashion big names flood into Moscow
The King of Luxury Bernard Arnault, the Head of Louis Vuitton Moet Hennessy, says the keys to success in the luxury business are quality and time. And he's not alone.
“I do not think you can bring luxury without culture, without great deal of work, without a great deal of back history and building this brand across the world to represent something in particular and to stand for something,” insisted Menkes
This timeless aspect of luxury makes it challenging for a young economy like Russia to create aspirational brands, but that is not holding back Russian spending on the best the foreigners have to offer.
Economists predict that in 10 years time, around 30% of all luxury sales will be in BRIC countries, meaning Russia as well as in Brazil, India and China.
But although luxury brands welcome this globalisation because of the higher sales it brings, its presenting them with something of an identity crisis, as they ask themselves does “Luxury” become less luxurious as it becomes less rare?
Leading fashion designer Tom Ford says its time for luxury brands scale back.
“To be blunt we make too much stuff, fewer things have been designed,” confessed Mr Ford.
Global spending on luxury goods is already greater than that spent on tourism and its forecast to double in the next five years topping $US 500 billion.
But the sector leaders will have to work out how to retain the luxury of their brands, as their products sell more and become more commonplace.


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One of the fundamental policies fuelling Trump’s success was the promise to blue collar workers that he’d bring jobs in the manufacturing industry back.
However, there is every chance he will be blocked by an automated force.
As reported in TechCrunch, robotics have already moved into manufacturing in automotive, electrical and electronics industries, according to a new policy report from the United Nations Conference on Trade & Development (UNCTAD).
However, automation has left workers in developing nations without employment, the report states, and the US will be faced with the same prospect.
And it’s not just funky startups replacing humans - Nike and Adidas have stopped using contractors and are embracing robotics and 3-D printing to make their shoes. Large farms have long employed robots in the field, and manufacturing jobs such as logistics and warehousing at Amazon and UPS are for the majority, carried out by robots.
UNCTAD’s report notes: “increased use of robots in developed countries erodes traditional labour-cost advantage of developing countries,” and is already having a global impact.
Not only are robots increasing productivity, but they are streamlining the difficulties with hiring staff across borders and dealing with costs of managing people, design, quality, safety, customs and logistics, regulatory compliance and intellectual property from afar.
‘Reshoring’ reduces both administrative and legal costs, as well as the cost of overheads.
Recently, we reported on a company in China who brought in robots to counteract labour costs. Read more here.


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The Technology Association of Georgia (TAG) has announced Vital4 as one of the 6 2021 TAG FinTech ADVANCE award winners!
“We are so humbled to be recognized as one of the most innovative FinTech companies in Georgia,” commented Kristin Stafford, CEO and co-Founder of Vital4.
Previous winners of the TAG FinTech Advance awards include NCR who was championed for their innovative work in the digital banking space and PayRoc, a processor and payment facilitation powerhouse that operates in 46 countries. The TAG FinTech ADVANCE program recognizes U.S. FinTech companies that have a connection to Georgia and can present measurable results about the ways they are helping advance the financial industry through the use of technology. On Wednesday, June 23 we will be featured at the ADVANCE Awards Showcase!
“TAG Fintech ADVANCE Award winners will be those companies, which are in production, bringing measurable results and generally advancing the financial industry through the use of technology. Winners are also expected to show a connection to Georgia, such as a corporate presence in the state, strategic partners, customers, board members or other relationships that have helped the company to prosper.”
Vital4 is determined to make due diligence smart, light touch, automated and more powerful than anything else out there. We are committed to harnessing technology to drive costs down and deliver unsurpassed results —results that let anyone concerned about compliance sleep better at night.
“We appreciate the support and recognition as we strive to continue providing trailblazing compliance data solutions to mitigate risk for the organizations we serve,” said Amy Barbieri, President and co-Founder of Vital4.
Previous Winners of the TAG FinTech Advance awards include NCR who was championed for their innovative work in the digital banking space.


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Huge discounts on offer in winter sales
3 January 2005, BRUSSELS — The winter sales period in Belgium officially started on Tuesday as clothing retailers promised shoppers exceptionally large discounts.
3 January 2005
BRUSSELS — The winter sales period in Belgium officially started on Tuesday as clothing retailers promised shoppers exceptionally large discounts.
Many shops opened their doors much earlier than usual, but due to the winter cold, shoppers only gathered en masse later in the day.
Bigger crowds were seen starting to gather early afternoon and the streets were only expected to get more crowded as the day progressed.
It is being speculated that a large number of people have not yet bought their winter clothing because warm weather extended deep into the autumn months.
There are therefore a higher number of winter jumpers and jackets in stock than usual, newspaper 'De Standaard' reported.
"We had a good December, but the months before that were exceptionally warm," a spokesman for small business association Unizo, Luc Ardies, said.
"The typical winter clothing remained hanging [in stores] and the consumer can now profit from that."
The retail sector has estimated that the average discount will be 40 percent, but discounts can amount to 70 and even 80 percent.
Especially winter clothing such as scarves and gloves are being sold quickly. The better known brands are performing best.
[Copyright Expatica News 2006]
Subject: Belgian news


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Jan 24, 2011
The Industrial and Commercial Bank of China (ICBC) has agreed on a deal to take over a US retail bank, at a time when American financial institutions are falling one after another.
The ICBC will buy 80 percent of the US unit of Bank of East Asia Ltd. for USD 140 million, the two companies announced in an e-mailed statement on Sunday.
The move, which is yet to be approved by US regulators, could be a positive step for the arrival of Chinese banks to the US retail market.
The deal was signed during President Hu Jintao’s state visit to the US.
The acquisition “will enable us to establish a solid presence in the US,” ICBC Chairman Jiang Jianqing said in the statement.
“With this commercial bank license in the US, ICBC can further expand its retail banking business and operating network across the nation.”
In January, ICBC opened its first branch in Paris, and is doubling its presence in Europe through branch openings in major cities.
Over 10 percent of the 7,760 banks in the US are in financial trouble and despite receiving a total of USD 4.2 billion in bailout cash, 98 US banks are still at risk of failing.
In 2010, 157 US banks failed and so far this year seven banks have failed.


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MetaMask, a popular Ether (ETH) wallet and browser extension, has just released a new major application upgrade.
Announcing the news on July 2, MetaMask outlined that the new update, MetaMask Version 8, offers a number of new features like enhanced privacy control and a new account-login system.
MetaMask users can now switch between several accounts to protect privacy
MetaMask’s new “Unparalleled Privacy Control” feature is focused on protecting private user information while connecting the app to a certain website. As such, MetaMask V8 offers users to select one or more accounts for a certain website or even create a new account specifically for that website.
“You decide what each site has access to,” MetaMask said, opposing the technology to other wallet apps. The firm believes that the majority of online crypto wallets in the market are vulnerable to disclosing private data by providing a single account.
“Most wallets today either manage a single account, or expose the currently selected user current account to all connected sites — broadly revealing users’ private information.”
The privacy update uses EIP-2255 permissions system
The new account-login update is based on MetaMask’s proprietary permissions system, known as EIP 2255. First described in August 2019, the EIP 2255 enables users to easily revoke and disconnect accounts when signing into a website, keeping that account signed in, and allowing the user to stay logged in on different websites with different accounts simultaneously.
According to the firm, the new and enhanced permissions will enable more features like decryption, access to wallet information like tokens or contacts, as well as lays out the foundation for the so-called MetaMask Snaps. Introduced in October 2019, MetaMask Snaps represent Metamask's own plugin system allowing users to request a variety of powerful wallet APIs from MetaMask.
MetaMask’s security set of tools, LavaMoat, finally goes live
The new privacy updates apparently come in response to an alleged data privacy breach experienced by MetaMask before. As reported in March 2019, Metamask was broadcasting ETH addresses to all visited websites as users were surfing the web in default settings.


text: Tesla Boss Elon Musk Gets Falsely Associated with Another Crypto Scam ByAli RazaPRO INVESTOR Updated: 16 June 2020 According to recent reports, there was recently an increase in the number of cryptocurrency scams on Twitter, that attempted to trick unsuspecting investors into giving away their money. However, these scams used a different approach than the standard ICO scams. Instead, they relied on impersonating the CEO of Tesla and SpaceX, Elon Musk. Elon Musk impersonators on the rise Musk is a well-known entrepreneur who had started a number of companies and had become a popular internet personality along the way. He is especially known for using Twitter for spreading the word about his companies’ new achievements, but also for participating in some areas of popular culture. However, one thing that Musk is not known for is taking part in the cryptocurrency industry. In fact, he was especially careful to not even give hints that he is a crypto investor or to support any projects. The only instance when he directly addressed cryptocurrencies in a supportive manner was when he commented on Bitcoin, stating that he thinks it brilliant. Apart from that, Musk stood on the side and let the crypto industry evolve without him in it. However, this is also something that a lot of investors do not know, which is why scammers often try to impersonate him to bring attention to fake projects or campaigns. According to recent reports by the British media, there was recently an entire slew of crypto scams on Twitter. Some of the ringleaders of these scams attempted to impersonate Musk in order to trick investors into sending their funds to the scammers’ wallets. The newest scams of this type offered a new Tesla Model S to anyone who sends 1 BTC or 10 ETH to certain wallet addresses. The scammers also claim that this rather incredible opportunity comes as a new campaign meant to increase the awareness of Tesla cars and that it was created by the company’s official marketing department. Naturally, none of it is true, and the scam might seem quite obvious at first. However, according to reports, a lot of cryptocurrency users have fallen for the scam recently. The scammers were also known to praise crypto transparency, and recognize it as the ‘best asset.’ Musk’s name was used in this way before As some may know, this is far from the first time that Elon Musk’s name has been used to trick gullible crypto investors on Twitter. Last year, in 2018, Musk saw an attack of an entire army of Ethereum scams and spambots. One of these was the well-knowBitcoin Revolution scam. This resulted in Twitter banning any account that uses his name, although the rule was revoked after some time. Now, it appears that bad actors are using the opportunity again. It should also be noted that Musk is not the only well-known individual that was victimized by scammers in such a way. Another celebrity whose name was misused similarly was Jeremy Clarkson, a former ‘Top Gear’ superstar. Clarkson’s name got involved in a scam known as the ‘Bitcoin Revolution,’ which became quite infamous ever since. The scam revolved around the creation of fake articles that mentioned numerous celebrities that are supposedly cryptocurrency supporters. Such articles quickly spread around social media networks, which led to more people investing in scammy projects and losing their money.


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Nokia plans to launch an iPad competitor based on Microsoft's Windows 8 operating system next year, the company's French division manager let slip in an interview with newspaper Les Echos.
Nokia is planning to enter the tablet market, and will launch a product based on Microsoft's upcoming Windows 8 operating system, according to an executive.
Samsung will have to wait until March next year to see if its attempt to get sales of the iPhone 4S banned in Australia is successful.
Android has surged ahead in the global smartphone market with more than half of all handsets sold worldwide in Q3 2011 running Google's mobile OS.
Apple is working on a smaller iPad and plans to increase the screen size of the next iPhone to 4 inches, according to a report.
Some users are claiming that iOS 5.0.1 hasn't fixed issues with battery life that it was supposed to remedy.
Sony is hoping developers are interested in working on games for its PlayStation Vita and Android-based devices, as it launched a beta test Thursday of a new cross-platform SDK.
The Mali-T658 graphics processor announced by ARM on Wednesday can be equipped with up to eight cores to help it deliver ten times the graphics performance of the company's existing GPU.
A little birdie (The Verge) revealed earlier today that HP's new CEO Meg Whitman had scheduled an all-hands meeting for the WebOS crew. The news sparked speculation that HP had perhaps found a suitor for the mobile platform, but those predictions tur...
It may be the end of the line for Adobe's mobile Flash Player, but the question now is will anyone care if and when it's gone?
Telstra today announced it will sell Apple's iPad 2 tablet on two year contract plans from Tuesday 15 November.
Tablets and smartphones will soon get quad-core processors with Nvidia's new Tegra 3 chip, which will eclipse the application and graphics performance provided by dual-core processors found on tablets like Apple's iPad and Motorola's Xoom.
Asustek Computer on Wednesday announced the 10-inch Eee Pad Transformer Prime tablet, which has a quad-core processor that could make it the fastest tablet in the market.
Apple will need new LED back-light solutions for the next-generation iPad if it increases the resolution of the display, according to reports from Apple's supply chain.
Hewlett-Packard has put its TouchPad tablet on sale again, this time to WebOS developers with qualifying coupons for purchase of the discounted tablet.
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PCW Evaluation Team
A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.
I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.
As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.
I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.
Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!
For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.
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Retailers are beginning to understand the importance in stocking more healthy products in their store, says HIM’s Chloe Kent.
Budgens retailer David Knight takes the long view on the proposed Tesco-Booker merger.
Donna Mullan, co-owner of Mullan’s Spar in Armagh, describes the impact of winning CRA 2017.
After six months, Dan’s refitted and enlarged store is ready to open.
Almost two-thirds of shoppers in c-stores agree that trust in a retailer brand is very important, says HIM’s Alice Dolling.
The ‘war of attrition’ over a deposit return scheme in Scotland is akin to The Wire, says Pete Cheema.
It’s been a mixed bag on business rates, despite positive measures in the Budget, says James Lowman.
Take care amid incoming legislation and declining usage, writes HIM’s Louise McWhirter.
Steve Barnes, chief executive of GroceryAid, highlights the importance of the industry charity.
The multiples can learn a lot from independents about responsible retailing, Sam argues.
It’s all go for Raaj Chandarana, who has made an important breakthrough in extending his Tara’s News store in High Wycombe.
There’s only so much that tinkering with business rates can achieve, says editor David Rees.
In terms of what shoppers are looking for from their c-store, it is very much a case of getting the basics right, says Gary Shaw.
Last year’s CRA winner reflects on plans for the year ahead following an unpredictable 2016.
While the announcement of the ‘Besco’ merger took pretty much everyone by surprise, on reflection perhaps we should have seen it, or something like it, a mile off, writes editor David Rees
With Dan in the midst of his store refit, he has found himself pondering the nature of his role as a c-store owner.
Bank branch closures will impact convenience stores and the communities they serve, argues Pete Cheema.
Businesses must have the right to challenge unfair rating assessments, says James Lowman.
C-stores should cater for the rapidly increasing number of shoppers that consider themselves to have food intolerances, says HIM’s Ruth Cousins.
If there is a theme for this year it could be ‘do it yourself’, writes editor David Rees.
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Jane Fonda promoted sustainable fashion at the 2020 Academy Awards on Sunday night by slipping into a dress she'd previously worn six years ago.
The 82-year-old looked stunning in a red sequin Elie Saab gown as she presented the Best Picture prize to Parasite director Bong Joon Ho and producer Kwak Sin-ae during the ceremony held at the Dolby Theater in Los Angeles.
However, fans were quick to point out that Jane had first sported the dress at the 67th International Cannes Film Festival in 2014, with the move in keeping with her promise not to purchase any new clothes as part of her protests against climate change.
In addition, the Grace and Frankie star swapped her signature blonde hairstyle for a shorter, silver crop and topped off her ensemble with Pomellato jewellery, explaining in a post on Instagram that she opted for items from the brand because the designers "only use responsible, ethically harvested gold and sustainable diamonds".
But Jane wasn't the only celebrity to recycle a look for the Oscars. Elizabeth Banks opted to give a pre-loved gown another outing and attended the Vanity Fair after-party wearing a scarlet Badgley Mischka dress.
Speaking to Entertainment Tonight at the bash, Elizabeth revealed she had first worn the ensemble at the magazine's party back in 2004.
"I'm upcycling this dress - I wore this dress for the first time to Vanity Fair in 2004," she explained. "And, we very rarely get a dress gifted to us. Badgley Mischka made this dress for me. Back then, I was in Seabiscuit, which was a big Oscar nominee, and they gave it to me, and I recently moved and found it in the back of the closet. And it still fits! So, I'm wearing it on the carpet tonight. Very excited to be wearing a dress, recycling a dress from 16 years ago."
Elsewhere, Booksmart actress Kaitlyn Dever wore a red Louis Vuitton dress made from "completely sustainable" fabrics, while Once Upon a Time in Hollywood star Margot Robbie looked stunning in a vintage midnight blue gown from Chanel.


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Nike Air Jordan 4 Cement
hundreds of millions of dollars taken in by big time athletics. The head of the Big Ten painted a dire picture of what college sports would look like in his testimony, saying his conference would likely cease to exist and the Rose Bowl would probably not be played. Jim Delany said the idea of paying players goes against the entire college experience and he couldn't see league members agreeing to it. If some did, he said, they likely would be kicked out of the conference because the move would create an imbalance among schools that could not be resolved. "There wouldn't be a Rose Bowl if either they Air Jordan Basketball Shoes 2017 Black
that the organization could have suggested other remedies to help athletes to justify its control of the college sports marketplace. Attorneys for the NCAA, though, said moving away from the concept of amateurism would drive spectators away from college sports and would upset the competitive balance among schools and conferences.
or we were operating in a very different wavelength in terms of paying players," Delany saidThat theme has since been echoed by college and conference administrators, even as they move forward on plans prompted by the O'Bannon suit and others to give expanded benefits to athletes .
They contended that paying players would make college sports less popular and could force schools to cut other programs funded by the Air Jordan 11 Space Jam
at least Nike Air Jordan 4 Cement $5,000 a year for big school football and basketball players. Wilken was not asked to rule on the fairness of a system that pays almost everyone but the athletes themselves. Instead, the case was centered on federal antitrust law and whether the prohibition against paying players promotes the game of college football and does not restrain competition in the marketplace. The plaintiffs gave up their right to damages in a pretrial move that meant the case would be heard only by the judge and not a jury. But even without monetary damages for former players the case was a battle over hundreds of millions of dollars in television contracts that attorneys for the plaintiffs said should be shared with the athletes themselves. In a scathing post trial brief, they argued that the NCAA basically staked its defense on a 1984 Supreme Court decision that said the fundamental rule of amateurism was at the core of the NCAA's regulation of college athletics and Nike Jordan For Girls
They said some of the relief sought by the plaintiffs would allow for third parties to play players and that universities would lose control of their programs. He said his job at UCLA was to play basketball and took up so much time that just making it to class was difficult. "I was an athlete masquerading as a student," said O'Bannon, star of the 1995 UCLA team that won the national title. "I was there strictly to play basketball. I did basically the minimum to make sure I kept my eligibility academically so I could continue to play. "But witnesses called by the NCAA during the trial spoke of the education provided athletes as payment for their services and said the college model has functioned well for more than a century.
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Chrysler Group LLC has reported sales results for August. Sales increased 14% compared to August 2011 and it was the 29th consecutive month of year-over-year sales gains. It was Chrysler’s best August since 2007.
For Chrysler, this represented a continuation of the string of good news since it emerged in 2009 from the bankruptcy of Chrysler Corporation after the economic crisis of 2008. It has achieved profitability, won a number of quality awards and as noted recorded year-on-year sales increases for 29 consecutive months. It’s marketing team is also winning praises, putting out such memorable commercials as Clint Eastwood’s 2012 Super Bowl ad “It’s Halftime in America”.
As to the government-backed bankruptcy, government loans have been repaid and shares held by the U.S. Treasury re-purchased. Chrysler is currently owned 58.5% by Fiat S.p.A. of Italy and 41.5% by United Auto Workers’ Retiree Medical Benefits Trust. Fiat has announced plans to buy an additional 3.3%.
The August sales increase was led by the Fiat brand with a 34% increase, the Chrysler brand with a 25% increase and the Ram Truck brand with an 18% increase. As to individual models, sales of the all-new Dodge Dart were up 294% over July.
On the company’s website, Reid Bigland, President and CEO – Dodge Brand and Head of U.S. Sales, was quoted as saying “Our hard work over the past few years is starting to pay some dividends in our sales growth, quality awards and profitability. Not to mention, an incredibly resilient U.S. new vehicle sales industry doesn’t hurt either.”


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Sony Ericsson has officially announced that the Android 2.3 Gingerbread update for the Xperia X10 is finally here and the update won’t be an OTA (over the air) update and also has to be installed with a computer running SE’s PC companion software. The long-promised 2.3.3 Gingerbread update is now available, but only if you’re pocketing a carrier-free phone and the update includes WiFi and USB tethering, improved Facebook integration and some fancy new widgets……………..
Sony Ericsson Xperia X10 has just received its official Android 2.3 Gingerbread update at last. After a couple of delays, the Android 2.3 Gingerbread update is available via a wired link using Sony Ericsson‘s own desktop software. New features include deeper Facebook integration into the calendar, contacts, and media apps. You can now also make your SE Xperia X10 into a WiFi hotspot and a photos widget that takes users in quickly to the photo gallery. Now there are some issues with the manner by which the update needs to be installed. For one, your contacts and 3rd party apps will get wiped out so make sure to sync your address book with Google. Also there are some features (e.g. Mediascape and Exchange) which is no longer available in Android 2.3 Gingerbread so expect them to vanish without a trace. Overall, given that the Sony Ericsson Xperia X10 isn’t the most smoothest of smartphones despite packing stellar hardware, we expect this update to bring the X10 up to par with other 1GHz Android devices on the market. Sony Ericsson has mentioned that the update will be rolling out to non-customized handsets first and then to customized X10s. Remember one thing that the update won’t be an OTA (over the air) update and has to be installed with a computer running SE’s PC companion software.


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Way back in the mid-1980s, communist Yugoslavia exported the Yugo, a compact car that sold for around $4,000. It was so poorly made that bumping into a pole at 5 mph could total it.
Fast forward to today, and a new class of cars has a similar problem. A minor accident can cause a total loss, even if the car’s been driven only a few miles. The only difference is that these cars aren’t cheap imports from some godforsaken socialist state. These are state-of-art electric vehicles that come with an average sticker price of $55,000.
Why are insurance companies totaling low-mileage EVs that have been in a fender bender? For the same reason you could total a new Yugo when backing out of a parking spot. The cost of repair is exorbitant.
As Reuters reported recently, “For many electric vehicles, there is no way to repair or assess even slightly damaged battery packs after accidents,” which means the only viable option is to replace the battery, which represents about half the cost of the car.
A replacement battery for a $44,000 Tesla Model 3 can cost up to $20,000.
One expert told Reuters that Tesla’s Model Y has “zero repairability” because its battery is built into the structure of the car.
As a result, drivers are finding that even a minor accident ends up with their shiny new EVs being hauled away to the junkyard.
Reuters’ search of EV salvage sales in the U.S. and Europe found a large number of low-mileage EVs made by Tesla, Nissan, Hyundai, and others being scrapped.
“At Synetiq, the UK’s largest salvage company, head of operations Michael Hill said over the last 12 months the number of EVs in the isolation bay – where they must be checked to avoid fire risk – at the firm’s Doncaster yard has soared, from perhaps a dozen every three days to up to 20 per day,” Reuters reports.
Insuring an electric car is already 27% more expensive, on average, than a gasoline-powered one. If insurers keep totaling new EVs with minor damage, those rates will only go up.
This won’t be a problem just for EV owners. You can bet that the environmentalists pushing electric cars will soon start complaining that insurance companies are “discriminating” against EVs and demanding that they spread those costs around more widely – forcing owners of conventional cars to subsidize EVs.
EV advocates say not to worry. Car makers, they say, are designing batteries to be more modular and replaceable. They promise that repair costs will eventually come down, and all will be well.
Maybe so, but that’s why force-feeding this technology is so reckless.
In a normal market, carmakers would work out such kinks before mass producing a vehicle, much less converting their entire fleets over to a new and relatively untested technology. If they couldn’t resolve problems of affordability, reliability, and repairability to consumers’ satisfaction, automakers would scrap the effort and move on to something else.
But our elites think they know better. And they want new cars to be 100% electric within a decade. So, carmakers feel like they have little choice but to plow ahead.
Which brings up another way that today’s EVs are like the Yugos of yesteryear.
One auto critic said of the Yugo that it “had the distinct feeling of something assembled at gunpoint.”
That was probably literally true in the case of the Yugo. But it is essentially the situation with EVs today. Consumers aren’t banging on dealership doors demanding EVs. Ford reported last week that its e-car division is losing billions of dollars a year.
Car companies are pouring money into electric cars only because the government is holding a gun to their heads, saying build EVs or die.
— Written by the I&I Editorial Board
Original article link


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There's no such thing as a free lunch, at least not with Warren Buffett.
An anonymous bidder paid $2,626,411 to eat lunch with the legendary Berkshire Hathaway investor, setting an eBay record - sort of. Bidding closed at $2,345,678, which would not have been a record, so once the auction closed, the bidder jacked up the price.
Proceeds benefit go to the Glide Foundation, which provides social services to the poor and homeless in San Francisco. Buffett offers himself up as a lunch companion every year in an annually auction that has raised nearly $9 million in the last 12 years. Last year, an anonymous bidder paid $2.6 million, and in 2008, a Chinese investment fund manager paid $2.11 million.
U.S. & World
"I've met a lot of nice people through this," Buffett said.
The winning bidder gets a meal at New York's famous Smith & Wollensky steakhouse and several hours to discuss whatever he or she wants to. The only topic that is off-limits is future investments.
The most expensive item ever sold on eBay was a jet that fetched $4.9 million, eBay spokeswoman Amanda Miller told The Associated Press.


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The NEWGEN winners for London Fashion Week in February have just been announced and we couldn’t be more excited to be supporting another generation of design talent. 1205, Lucas Nascimento, Marques’ Almeida and Simone Rocha will all show catwalk collections this season and we can’t wait to see what they have to offer! Over the past 12 years the NEWGEN scheme has helped launch the careers of fashion heavyweights like Christopher Kane and Alexander McQueen, so if you’re looking for names to drop this season make sure it’s this lot – they’re officially London’s new cool set.
So what do you need to know about the new names on the roster? Read on to get the 411 on this talented bunch:
1. SIMONE ROCHA
Daughter to fashion designer veteran John Rocha, Simone is already fashion royalty. But this girl deserves plenty of credit in her own right – her achingly cool designs marry unsual fabrics with clean silhouettes. Think gold foil button downs or clear perspex brogues and you can see why we heart Simone.
Headed up by Paula Gerbase, 1205’s androgynous tailoring is already a hit with the style set. Her skill at creating impeccable suits is unsurprising really – after studying womenswear at Central Saint Martins, she worked in the womenswear atelier of iconic British tailor Hardy Amies, followed by five years as head designer at equally prestigious Savile Row tailor, Kilgour. That’s some pretty good work experience if you ask us!
3. LUCAS NASCIMENTO
Brazilian designer Lucas Nascimento’s innovative knitwear techniques landed him numerous slots at Brazil fashion week before he made the move to London. Ladylike and and grown-up, his textured pieces bring a new sophistication to knitwear.
4. MARQUES’ ALMEIDA
Fashion school pals Marta Marques and Paulo Almeida first caught our attention with their signature distressed denim tees. Soon after, Fashion Week was full of fash editors working their raw, unhinged look on the FROW.
Other winners of NEWGEN support include Ryan Lo – the self taught Hong Kong native known for his pink frocks, Claire Barrow– London’s coolest customiser and Danielle Romeril – a designer putting the punk into basics. All three will show presentations or exhibitions at LFW this season.
So congrats to all the winners, we can’t wait to see your collections come February!


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A Sweden-based music, podcast, and video streaming service, Spotify has announced that it had marked 70 million subscribers amid reports that the world’s largest music streaming company plans to go public in the coming months.
The company, which has been valued at up to $20 billion, revealed that it added 10 million paying subscribers since its last update in July.
Interestingly, the number of total users remains consistent for company. It said in June that it had 140 million active users when including listeners who access Spotify’s free, advertising-backed tier.
The real competitor for Spotify is Apple Music, which was launched in 2015 as the market shifts away from the purchased downloading of songs on the tech giant’s iTunes.
Apple revealed in September that its streaming service had as much as 30 million paying subscribers, reflecting a still significant gap with nearly 10-year-old Spotify but also indicating that Apple Music is growing quickly.
The subscriber announcement comes amid report that Spotify plans shortly to go public, using an unusual direct listing rather than a more common initial public offering.


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One of Vermont's fastest growing tech companies has been sold for nearly $1 billion. Dealer.com was bought Thursday by a publicly-traded New York company.
Under the deal announced Thursday, the privately held company is being sold to Dealertrack Technologies for $620 million and 8.7 million shares of Dealertrack stock.
"It's all very good news; we are really excited about this," says Alison Von Puschendorf of Dealer.com.
Dealer.com operates websites for about 7,000 car dealerships nationwide and expects to generate roughly $230 million in sales this year. Company reps say the new ownership is only going to make business better. They say the already successful automotive marketing and operations software provider had been entertaining offers for awhile, and this will take it to the next level.
Von Puschendorf says, "It was the right choice to take going forward for us to grow our business."
They say the combination of two powerful automotive retailers is in the best interest of the company, and those who work for it. Dealer.com employs 830 people between its Burlington and Manhattan Beach, Calif., offices. They say no jobs will be cut, and actually they may be adding more.
"We hope so, right now we haven't announced any staffing changes, but we are certainly looking to be growing our company as we have been," says Von Puschendorf.
After the announcement, shares of Dealertrack rose 7 percent. Mayor Miro Weinberger, D-Burlington, says the deal is a testament to the economic strength of Burlington.
In a statement Weinberger said, "The news is also a high-profile demonstration that Burlington is a wonderful place to create and grow a successful tech business that should spur further local investment. I was pleased to hear from Dealer.com's leadership that today's events will provide Dealer.com the capital it needs to continue to invest and grow in Burlington."
Gov. Peter Shumlin says the acquisition echoes that sentiment statewide.
"It's further proof that Vermont is a great place to start and grow a business. Dealer.com has seen incredible success in Burlington. The Dealertrack agreement is a huge vote of confidence in Dealer.com," said Shumlin, D-Vermont.
Although the deal means big news for Burlington, representatives say employees shouldn't notice any differences right away. Any changes in the future will only mean good things for them and the city.
"We are continuing to operate here business as usual. Burlington will be a really important part of the footprint going forward. In fact, it will become a center of excellence," says Von Puschendorf.
The Dealertrack deal will close in 2014, subject to regulatory approval.