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New Delhi: After reports emerged of a potential merger of Indian cab aggregators Ola and Uber Technologies Inc, Ola co-founder and CEO Bhavish Aggarwal dismissed them, by calling them “absolute rubbish”.
The Economic Times, earlier in the day on Friday, July 29, carried a report saying that Aggarwal met top Uber executives in San Francisco, United States, recently to get started on the merger.
Reacting to the reports, Aggarwal took to Twitter and said:
Absolute rubbish. We’re very profitable and growing well. If some other companies want to exit their business from India they are welcome to! We will never merge. https://t.co/X3wC9HDrnr
— Bhavish Aggarwal (@bhash) July 29, 2022
The latest news on a possible merger between two ride-hailing companies comes four years after the common investor Softbank had pressed for a merger, but failed to fructify.
Now that both companies facing their worst crises due to sluggish demand for app-based mobility services in India in the aftermath of the covid pandemic, the ET report said, the talks of merger once again revived in recent months.
The adverse impact of the pandemic was seen in the form of Ola laying off its staff to tighten operations and to have a leaner team. In the latest round of layoffs, the firm seems to have terminated the services of nearly 1,000 of its staff members – a jump from the initially projected 500 layoffs, the report said.
On the other hand, Uber had recently dismissed a Bloomberg report that suggested the company had explored a sale of its India unit a year ago.
The ET reported that both Ola and Uber did not respond to queries from its end on the merger talks.
However, Ola, in a statement, said that it was actually looking at acquisitions rather than a merger to consolidate its position.
“Ola is one of the most profitable ride-hailing companies in the world with a strong balance sheet. We are the market leader in India and are much bigger than other player. Hence, merger of any kind is completely out of the equation. We believe that India has a lot more opportunity to unlock when it comes to mobility services. As a strong vertically integrated mobility we will further consolidate our position by any acquisition in the Indian market, if at all,” the report quoted Ola as saying.
(With inputs from Reuters)


text: Unless something totally unexpected delays them, new federal anti-terrorism cargo security rules will take effect Oct. 1. The rules could slow the movement of goods along some manufacturing supply chains, but even when fully implemented, probably during the first half of 2004, they are not likely to force most manufacturers to abandon their just-in-time inventory (JIT) management practices. Rules proposed July 23 by U.S. Customs & Border Protection (CBP), an agency of the Department of Homeland Security, would cover cargo carried by air, rail, ship and truck in or out of the U.S. and establish specific minimum periods for notifying CBP in advance about contents and recipients. The pending rules would require that CBP receive the information no later than four hours before landing for cargo coming into the U.S. by plane from Europe or Asia. For goods coming by air to the U.S. from elsewhere in North America or from Central America or South America north of the Equator, cargo information would be due by the time the plane departed for the U.S. For rail-carried cargo the minimum advance notification period would be two hours prior to U.S. entry, and for truck cargo generally one hour in advance. The existing 24-hour prenotification rule for ocean-borne cargo remains in effect, although under the pending regulations electronic filing of cargo data would become mandatory. For goods being exported from the U.S., the requirements would be similar: a minimum 24 hours' advance notice for cargo ships, two hours before scheduled departure time for air cargo; one hour before arrival at the border for truck cargo, and for rail-carried cargo four hours before the engine is attached to a train headed out of the U.S. The newly proposed rules carry "far, far less risk" of making JIT a casualty of regulation than did anti-terrorism cargo restrictions circulated earlier this year, says Larry Christensen, vice president for international trade content at Vastera Inc., a Dulles, Va.-based global trade-management firm. Citing the proposed rule requiring two hours advance notification on exports by air, he says: "That's going to hurt. It's going to require companies to prepare databases in advance. It's going to require them to automate their systems and to communicate with their carriers electronically. But that's certainly not as bad as 24 hours."

domain: news


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Alan Lacy: Let’s Rock the Vote
March 14, 2005,
New York — With less than 10 days before the vote, Sears Chairman and CEO Alan Lacy is leading a full-bore campaign — worthy of almost any political analogy — to win ratification of the merger with Kmart.
Although no strong opposition is appearing to block the merger, success in the Sears’ vote is far less assured than at Kmart, if only by the numbers and structure: Sears, in which investor Eddie Lampert holds a 14 percent stake, requires a two-thirds vote to approve the agreement. On the other hand, Kmart, where Lampert controls about half the stock, requires a simple majority approval, and ratification there is considered a foregone conclusion.
The effort also offers some insight into the pressures that drove Lacy to agree to the merger — not the least of which were two consecutive years of poor financial performance, references he makes throughout his campaign.
So Lacy is on the stump, evidence of which may be seen in multiple disclosure filings with the Securities and Exchange Commission. His campaign seems even to have aroused the ire of some Sears’ retirees, who have protested that he’s using company resources to talk up the merger. Sears has defended his actions as entirely appropriate.
Like any good political campaign, the Lacy effort repeatedly urges action, and uses a carrot-and-stick approach to making the case.
“The Sears board of directors and I strongly urge all shareholders to vote for the merger,” Lacy said in a March 1 letter to employees. “The merger represents a compelling roadmap for growth,” the letter continued.
Although Sears was making progress with its off-mall strategy before merger talks began, it would have taken the company years and a huge investment to achieve the market penetration it will realize next year, Lacy said.
Sears can achieve that market penetration more efficiently by converting Kmart locations where appropriate and learning from its experience with convenience items, “a skill Sears has not yet adequately developed,” Lacy said. Moreover, Kmart “brings a ‘can do’ spirit and a sense of urgency” that will help drive results for the new company.
But if those reasons aren’t compelling enough, Lacy also points out the downside to a defeat, particularly after a disappointing 2004: “Without this merger, we would be forced to consider dramatic steps to compete without the locations and advantages Kmart brings to us. These changes would not be attractive for the company or for our associates.”
In apparently more extemporaneous remarks in a “Hoffman Town Hall” meeting with associates March 2, Lacy laid out at length some of the considerations leading up to the merger, as well as management’s current thinking and plans for the combined companies.
He drew a picture of a mature, limited-growth company beset by competition it couldn’t adequately address.
“We’ve been around for 119 years,” he said. “It’s a wonderful thing. That said, we’ve been in 870 stores for the last 35 years plus. As a retailer, we really have not grown at all for the last 35 years and, needless to say, what’s happening in the retail industry more broadly — we’ve got many best in class, newer competitors that have grown to be very substantial enterprises and continue to grow while we’ve been, roughly speaking, standing still.
“Our best-in-class competition last year added 800 stores on a base of 8,000,” Lacy told employees. “If you take Wal-Mart, Home Depot, Best Buy, Kohl’s, Lowe’s, etc., they’ve got 8,000 stores out there compared to our 870. They added 800, 10 percent unit growth. We were doing everything we could possibly do getting 6 or 7 percent unit growth, etc.”
That was particularly devastating in light of Sears’ second consecutive year of poor financial performance, he added.
Progress is already in the works, Lacy said. Conversions on five Kmart stores began several weeks ago, and the first 25 conversions will be completed between February and March, with another 25 converted between April and June, he explained.
Related Content By Author
Live From New York: Fashion Comes Across the Pond
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Apple iOS 8 opens new areas of iOS and enables developers to extend the content and functionality of their applications. Developers can create customized experiences in the realms of photo editing, sharing, notifications, keyboard, documents, and actions. There are over 4,000 new APIs enabling new capabilities and features. Some of the major new APIs, which cover gaming, photo tools, health/fitness, the cloud, home automation, etc., include Metal, SceneKit, SpriteKit, CloudKit, HomeKit, HealthKit, Camera, PhotoKit, Swift, and TouchID.
In 2015, Nexmo launched a series of developer contests. The contests kicked off with a focus on open source and developers were challenged to build open source integrations that added the Nexmo Verify or Number Insight APIs. This article takes a look at the best dev projects from the past year.
GE Predix Industrial IoT Developer Tool Kits are coming soon and the first to be released will run on Intel Edison. Developer Tool Kits for Raspberry Pi and GE Field Agent will also eventually be made available as well as industry-specific Predix Tool Kits such as solar energy and mining.
CWT, travel management platform provider, has expanded its myCWT platform to China. The omni-channel, open API-based platform is the first of its kind in China. China's travel market includes specific nuances that required some customization for the myCWT platform and CWT made the adjustments.


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HTC Grows Revenue And Profit In Q4
HTC posted quarterly revenue of NT$47.87 billion (around $1.84 billion), up from NT$42.9 billion year-on-year, while net profit after tax of NT$470 million was up from net profit of NT$310 million in last year’s corresponding quarter.
HTC reported operating profit of NT$180 million for the quarter.
As reported by The Wall Street Journal, rolling out more mid-tier phones, along with streamlining costs, has helped HTC stay profitable in recent quarters, however analysts believe the company faces a daunting task to reverse sliding sales, with the smartphone market set to become even more crowded in 2015.
Growing competition is creating pressure at both the premium and more budget ends of the market, with established players, such as Apple, seeking to further expand premium market share.
Meanwhile, low-cost competitors, such as Xiaomi, which has rapidly grown market share in recent times, are looking to secure further market share in the more budget category.


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Yue Yen Industrial Holdings was hard hit by China’s measures to contain the spread of coronavirus. The world’s largest shoe manufacturer posted a net loss of $136.7 million for the first half of 2020, against net income of $165.9 million for the year-ago period. The company managed to reduce operating expenses by more than 10 percent, but aside from lower sales and a reduced gross margin the company incurred extra charges of $84 million for severance costs related to closures and factory adjustments.
Total revenues dropped by 19.4 percent to $1,969 million, weighed down by lower Chinese retail sales and sluggish footwear demand due to lockdown restrictions, including many store closures.
The manufacturing segment saw revenues fall by 17.5 percent to $2,418 million, due to reduced and cancelled orders from customers as well as lower efficiencies and delayed shipments. The group’s factories in China closed in January when the outbreak started, and only reopened in February. Vietnam, Indonesia and China accounted for 43 percent, 42 percent and 11 percent of total shoe deliveries during the period.
The virus also adversely affected the supply chain, resulting in a shortage of certain raw materials. As a result, the gross margin in manufacturing narrowed by 4.3 percentage points to 13.8 percent. On the other hand, the average selling price increased by 4.6 percent to $17.25 per pair, which was primarily due to changes in the group’s product portfolio.
Athletic footwear sales inched down by 4.0 percent to $2,018 million, while sales of casual/outdoor plunged by 66.3 percent to $178.5 million and sports sandals dropped by 25.4 percent to $44.1 million. Sales of soles, components and others declined by 25.9 percent to $177.7 million.
Retail sales in China by the company’s Pou Sheng subsidiary tumbled by 15.3 percent to $1,667 million, hampered by store closures in February and March. The company focused on e-commerce, and launched its first WeChat stores in February, while adding content online to attract customers. At the end of the period, Pou Sheng had 5,597 directly operated stores and 3,839 stores operated by sub-distributors.
Looking at the rest of the year, Yue Yuen anticipates that the impact of Covid-19 on the group’s manufacturing business will diminish in the coming quarters. However, global demand for shoes is likely to remain subdued and may be further impacted by the recurring waves of infections that are forcing some economies back into lockdowns. It has witnessed signs of increased retail spending in some markets and believes that a recovery of the sporting goods market will be supported by the resumption of sports leagues such as the NBA and Premier League. Nevertheless, the company remains cautious and will continuously work to limit expenses.


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A teacher at Namiwawa Primary School in Blantyre won K1 million during the first draw of Airtel Bandulo Bandulo promotion on Monday.
Another winner also got a prize of K1 million while 70 other people won K100, 000 each.
When contacted, the teacher Rhoda Hara could not believe that she was among the winners.
Hara therefore thanked Airtel Malawi for the promotion and encouraged her fellow customers to continue buying bundles to stand a chance of winning such prizes.
“I am very happy upon hearing this good news, I cannot believe that l am among of the winners. I am therefore encouraging other customers to continue purchasing bundles because one day they might be the lucky winners,” she said.
In his remarks, Airtel Malawi Marketing Director Frank Magombo said they are very impressed with how the draw has started adding that it is a sign that their customers are participating .
He encouraged the Airtel customers to continue buying bundles to stand a chance of winning weekly prizes.
Magombo however explained that the winners will be from different districts to convince people that they are not relatives of the officials but lucky customers who are buying the bundles.
The promotion which will run for 14 weeks will see one customer winning K10 million as a grand prize on 5th December.


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Wave the Product
The first of Google Wave’s “Three Ps” announced at the Google I/O Developer Conference was Google Wave the Product.
As previously mentioned, Google’s Wave product is a re-invention of our traditional web communications. It combines elements of email, instant messaging, and real-time collaboration in a completely new way. It is set to become a replacement or alternative to their Gmail and Gtalk products, but contains a lot more.
The distinction of the Google Wave product is that it will run on Google’s servers, using Google’s bandwidth, and have all their weight behind it, driving it. It might also mean it will include their advertising, and the more paranoid among us might think it has the downside of running on their infrastructure.
It is more than likely they will offer free and paid plans similar to those they offer Google Apps users. It will come default with a select set of features such as the inline spell checker/corrector, and translation robot. “Wave the Product” is the obvious public face of Google Wave, and the way Google will monetise their invention.
For those that want more Google offers Wave the Platform


text: Some important brands are coming back to the GDS for its next edition on Feb. 10-12, which will showcase more than 800 brands. One of the newcomers is Timberland, which has been absent from the Düsseldorf trade show in recent memory. It will join newcomers such as Lyle & Scott, Rockland, Franzini and Via Scarpa in the Highstreet section of the show. Lottusse will return to the GDS, occupying a space in the Pop Up section along with new brands such as Oliver Sweeney, Roy Robson, Esseutesse or La Bottega di Lisa Miista. EMU Australia will have a space for the first time in the children's section of the GDS together with Shoesme, Shoo Pom, Shwik and Move de Melton. The sourcing show, Tag it!, will continue to run simultaneously with the GDS, but it will move to Hall 1. The organizers of the GDS have decided to hold the next summer edition of the Düsseldorf show a little earlier than last year, from July 26 to 28, making it run from Tuesday through Thursday because Friday is an important day for the retailers' business.


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US-Mexico trade agreement delayed due to one issue
Today the Mexican customs agency has the ability to pre-clear shipments into the country originating in the United States from an inspection station located at Laredo International Airport. This facilitates the movement of goods from the US to Mexico in that, instead of having to fly goods into a Mexican international airport with customs clearance capability, items can be sent directly from Laredo to those that purchase them at their point of end use.. Companies that utilize this option for moving their products to their customers do so under a binational US-Mexico trade to do sothat has been in effect for over more than one year.
Although the ability to preclear cargo destined for Mexico at Mexican customs clearance facilities located in US territory is now a reality in Laredo, Texas, setting up similar capacity for US Customs in Mexico has run into an obstacle. In this case, the Mexican customs agency and government are sensitive to allowing any U.S. law enforcement agency stationed at such facilities to arm personnel on its territory. Mexico sees this as an abrogation of national sovereignty, while the US government views the matter in terms of security. In 2011, Jaime Zapata, a U.S. Immigration and Customs Enforcement Official, was slain while traveling on a highway in Central Mexico. The other US official there at the time, Jose Avila, survived the attack. This event is still fresh in US officials’ memories. According to Laredo city officials, the Mexican government is working on a way to amend its laws so as to allow US Customs Inspectors to carry weapons at preclearance stations located on Mexican soil so that this US-Mexico trade agreement can proceed and deliver intended benefits.
While some contend that preclearance stations on both sides of the border will ultimately have a net positive affect on commercial traffic between the two countries, others see a potential downside. James Giermanski of Powers International believes that preclearing merchandise prior to hitting borders as a result of the US-Mexico trade agreement might result in a drop in occupancy rates for warehouse located in both US and Mexico border cities. Some individuals, Christopher Wilson at the Princeton’s Woodrow Wilson International Institute’s Mexico Center, believe that ultimately, rather than having separate customs crossings for both countries, US and Mexican agents should be co-located in single facilities along the border. According to him, these “single ports of entry” would enable both country’s to share intelligence on a live, real-time basis.
Read the primary source for this post at the Texas Tribune.


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Maintaining a thriving town centre and focus for investment is more important post coronavirus pandemic than building an out-of-town retail park, the team in charge of promoting Camborne has argued.
If successful on appeal, the scheme by Quora, known as Polstrong, would see a Lidl supermarket, Home Bargains shop, petrol station and car parking spaces for 160 cars built on the edge of the town, where a Premier Inn hotel stands nearby.
The proposed retail park, plans for which dates back to 2018, has faced strong opposition from local residents and retailers in Camborne.
The planning application was rejected in August 2019 on the grounds that the out-of-town retail park would have a significant adverse impact on the vitality and viability of Camborne Town Centre.
Cornwall Council also argued that the applicants failed to provide sufficient information in order to allow a full assessment of the net level of job creation and the scheme would encroach on the countryside and have an adverse visual impact.
In their letter explaining their decision to reject the application, Cornwall Council said: “The percentage of vacant retail premises in Camborne town centre, although falling in 2017, remains well above the national average at 18.3% against 12.1%.
"This seriously and adversely affects the attractiveness of the town both to shoppers and investors, convenience goods have experienced a fall with that trade going elsewhere and a fall in the turnover of comparison goods. The conclusion is that the overall health of Camborne Town Centre is fragile.
“The council considers that the effects upon the health and vitality of Camborne have been underplayed. Even with a reduction in retail floorspace from that originally proposed there will be a harmful impact on a fragile centre which the council judges to be substantial.”
Quora launched an appeal in February saying: “The appeal proposals will not result in significant adverse impacts on the vitality and viability of Camborne Town Centre.
"The proposals represent a significant increase in employment opportunities both at construction stage and operational stage. Therefore, we consider this is a material consideration which weighs in favour of the appeal proposals.”
BID (Business Improvement District) Camborne has now filed a five-page precis to the Planning Inspectorate - -which will consider the appeal - in opposition to the proposal arguing that the out-of-town retail park would severely impact the high street by drawing business away from the town centre and causing consequential job losses.
BID manager Anna Pascoe said: “We are passionately against this proposal because we are convinced it will wreak significant damage on the town at a time when local businesses are on their knees and are most in need of help.
“The developers have shown no interest in working with us or other stakeholders and we believe the evidence and calculations produced in support of their plans do not stand up to scrutiny.
“In our opinion, the land in question would be far better suited to innovative industries, rather than retail units that will be in direct competition with similar outlets already in the town.
"We also question the logic of encouraging car usage to an out-of-town site in the midst of an officially declared climate change emergency.
“Given the application’s lack of sustainable principles and the hugely adverse effect it will have on Camborne businesses, we believe that Cornwall Council’s planning committee decision should be upheld and that this appeal should be roundly and firmly turned down.”


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Mark Carney moves the goalposts again
24 July, 2014
Yesterday we had the eagerly anticipated Bank of England minutes where in early morning trade it looked like investors were hoping to see some members vote for a hike as we saw the pound rise to fresh highs against the euro and re-gain losses against the other major currencies seen on Tuesday.
Alas the minutes came out with unanimous votes to keep interest rates unchanged and asset purchase as is, which saw the pound swiftly drop back from the peak half a cent to the previous highs where the pound then traded within a small range for the rest of the day. Later in the day Mark Carney dampened investor hopes further about rising interest rates here in the UK by suggesting MPC members would “update thinking” at the next inflation report looking to now take pay growth into their decision on when we could see interest rate hikes. Initially it was unemployment, then inflation and now pay growth. It looks like it could be a while until interest rates go up here if the Bank keep changing their mind which although good for borrowers, not so good for savers or investors who up until now have been keeping the pound strong. We will have to see what the inflation report next month brings, but this could be a warning for any euro buyers out there that it could be worth locking in that rate sooner rather than later, as any damping down of rate hikes will almost certainly cause sterling weakness.
Across the pond we saw Canadian retail sales which came out well under expectations and saw the Loonie weaken nearly a cent. Overnight, the RBNZ interest rate decision which saw the rates lifted by 25 basis points as expected to 3.5 percent. Despite this which would generally strengthen a currency, the statement following which stated they would now be pausing hikes actually weakened the Kiwi by 1.5 cents against sterling.
Looking forward to today we an array of ecostats, starting with French, German and EU manufacturing and services PMI plus Italian retail sales and Spanish unemployment. For the UK its retail sales followed after lunch by numerous US data including PMI, new homes sales and jobless claims. Plenty to go on and move the markets so stay in touch with your CI broker for any updates.
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Tag Archives: social media
Integrating Social Media Care (also called Social Care) into your customer service program is quickly becoming a necessity. It can be used to effectively respond to customers via your public profile while tracking and listening to conversations about your company. Social Care helps your business go beyond traditional customer service and allows your brand’s personality and rapport to flourish.
Today, Mark Zuckerberg announced that Facebook’s news feed, which was originally introduced in 2006, would be getting a facelift, so to speak. Now a “personalized newspaper,” the revamped social timeline, is being redesigned to better reflect the nature of today’s social sharing, according to Zuckerberg.
After keeping the media in prolonged suspense, Facebook broke its silence on January 15th to announce the upcoming release of Graph Search. The new natural-language, social search tool allows users to find people who share common interests, locations, preferences and more.
Graph Search is in the process of its beta rolling out to Facebook users that requested an invite. What will its implementation mean for you and your brand?


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Clint Eastwood Wins $6.1 Million From “Online Scammers’ In CBD Lawsuit
Clint Eastwood scored a huge victory in court, winning his $6.1 million lawsuit against CBD scammers falsely using his name and likeness.
Legendary actor and director Clint Eastwood came out victorious in court this week, winning his $6.1 million lawsuit against scammers using his face and image to sell CBD products.
Time flies pic.twitter.com/Ai26Yc0zla
— Clint Eastwood (@ClintEastwo_) July 18, 2021
Eastwood’s Victory In Court
“I am pleased with the court’s ruling, and believe this judgment sends a powerful message to other online scammers who might try to illegally use someone’s name and reputation to sell their products,” Eastwood, 91, told The New York Post.
Justice R. Gary Klausner ruled that the Lithuanian CBD company Mediatonas UAB must also pay Eastwood’s $95,000 legal fees, on top of the millions in damages for using his name and likeness.
“Over a career that has a spanned more than 60 years, Mr. Eastwood has earned a reputation for honesty, hard work, integrity and public service,” said Jordan Susman, Eastwood’s attorney.
“He is also willing to do what is right and what is fair,” he added. “In pursuing this case, and obtaining this judgment, Mr. Eastwood has again demonstrated a willingness to confront wrongdoing and hold accountable those who try to illegally profit off his name, likeness and goodwill.”
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Take a look a the video report from TMZ:
Eastwood Targeted By Scammers
Eastwood filed the lawsuit after Mediatonas UAB put up websites that included fake “interviews” with the former Dirty Harry star in which they claimed that his new role selling CBD offered him “something bigger than movies.”
“This was a really, really difficult decision for me,” Eastwood was falsely quoted as saying, referring to his decision to leave Hollywood to promote CBD.
The websites included a photo of Eastwood from an appearance on NBC’s “Today” show, along with the show’s logo, as well as fake testimonials about his CBD products from celebrities like Terry Bradshaw, Sam Elliott, Michael J. Fox, and Garth Brooks.
“Mr. Eastwood has no connection of any kind whatsoever to any CBD products and never gave such an interview,” Eastwood’s legal team said in court papers.
Judge Didn’t Grant One Eastwood Request
While Eastwood won millions in this case, the judge declined to grant the lawsuit’s full request for defamation on Friday because it did not appear “libelous on its face.”
“It requires additional context to understand what CBD products are and why a person like Clint Eastwood would not endorse a marijuana-based product,” the judge said in his ruling.
Nevertheless, this is still a huge victory for Eastwood. He showed the world he’s not someone to be messed with even at 91 years old.
Perhaps those behind this CBD company thought that Eastwood would be an easy target, since he is over the age of 90, but they learned the hard way that they were dead wrong! You can’t fool Dirty Harry!


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(Reuters) - U.S. drugstore chain operator Walgreen Co reported a 6.2 percent rise in quarterly sales, helped by higher prescription sales, sending its shares up more than 3 percent in premarket trading.
Prescription sales, which made up nearly two thirds of the company's total sales, rose 9.3 percent in the fourth quarter ended Aug. 31.
Total revenue rose to $19.06 billion in the quarter from $17.94 billion a year earlier.
The net loss attributable to the company was $239 million, or 25 cents per share, in the quarter, and included an $866 million non-cash loss due to the amendment and exercise of its Alliance Boots call option.
Walgreen posted a profit of $657 million, or 69 cents per share, a year earlier.
Excluding items, the company earned 74 cents per share in the latest quarter.
The company's shares rose 3.2 percent to $61.50 in trading before the bell on Tuesday.
(Editing by Savio D'Souza)


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Our photographer attended the 2019 Autosport International show at the weekend; the first main car event of the year. The show was bigger than previous years with hundreds of cars on display from a variety of manufacturers, racing teams, modification companies and car clubs.
Take a look at some of cars on display that caught our eye below:
Undoubtedly the star of the show was this brand-new McLaren Senna, the newest edition to their “Ultimate Series” range of cars. Limited to just 500 units costing £750,000 before any customisation it’s certainly a rare sight!
Another unexpected car on display was the Porsche 935 unveiled back in September 2018 in America. Based on a GT2 RS underneath with unique styling resembling the old 935 racing car from the 1970s this new limited production reincarnation has been a massive hit with car fans everywhere!
This BMW E30 M3 from the late 1980s stood out among the crowd, being in immaculate condition despite its age and said to be an ex-BMW UK press car! These have been very sought-after cars in recent years with them becoming increasingly rare and only going up in value.
While this concept variant of the all-electric Jaguar I-Pace isn’t for road use it certainly grabs attention with the more sporty and aggressive styling! Maybe this is what’s needed to make electric cars more popular to the general public?
With lots of modified cars on display from many different companies this subtly modified Audi S4 caught our attention. The hidden performance upgrades, aftermarket wheels and other visual changes complete the package looking very modern and angular! Who wouldn’t love a sporty 4-door luxury saloon?
Did you attend the Autosport International show 2019? If so, let us know what cars caught your eye.
For more CarCliq news click here


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Sep 10, 2021, 6:30 am224 ptsTopEven as ransomware attacks on high-profile mainstream companies such as Colonial Pipeline and JBS Foods have grabbed headlines in recent months, cannabis companies appear largely unprotected from malicious actors launching such schemes. That could prove costly to any marijuana companies that fall victim to the…
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Stay on top of the latest news headlines, trends and developments worldwide around recreational and medical marijuana. Sit back and relax, while you read learn and share. On the web or your mobile device, NewsBudz is your cannabis news stream.


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One of the 2019 iPhone models could stick with the Liquid Retina LCD display, although in 2020 a rumor suggests Apple may drop the LCD model.
The plan to stick with LCD comes as Apple grapples with sluggish sales of the iPhone XR, which has cut into its most recent revenue projection. That is partly because the planned LCD handset has been in the product pipeline for months and the plan can’t be altered easily, they said.
Charlotte Henry also wrote that one or more of the new phones may come with three cameras.
Insider sources say the 2018 iPhone line could see shipments between 70 million and 75 million by year’s end, in line with the iPhone 6 record breaking launch.
Apple is reportedly transitioning away from LCD for all iPhone display panels in favor of OLED.
Flat panel display technology continues to evolve. A decade ago, we had Plasma and LCD TV sets. LCDs were adopted for use in iPhones and iPads, but they require backlighting. Then we had OLEDs (used in the Apple Watch). Now there’s Quantum Dots and microLEDs. John provides a primer.


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If you thought with the passing away of Steve Jobs, Apple would tone down the surprises, then think again! Apple, out of nowhere has announced the next operating software for the Mac. This update, like the Snow Leopard, is a minor one, but Apple has thrown in over 100 new features in their latest OS to the follow-up to Lion, which is Mountain Lion. The brand has released a developer preview of OS X Mountain Lion, which is the ninth major release of an operating software for the Mac. Apple claims that this new OS brings popular apps from iPad to the Mac and accelerates the pace of OS X innovation.
Apple is working to enhance their ecosystem
The announcement from Apple states, “Mountain Lion introduces Messages, Notes, Reminders and Game Center to the Mac, as well as Notification Center, Share Sheets, Twitter integration and AirPlay Mirroring. Mountain Lion is the first OS X release built with iCloud in mind for easy setup and integration with apps.” The developer preview has been already made available and the rest of the world will receive the update later on this year.
Apple states that there are over 100 million users with iCloud accounts and with Mountain Lion, one can easily access documents across the devices. This new OS uses one’s Apple ID to automatically set up Contacts, Mail, Calendar, Messages, FaceTime and Find My Mac. It also features the new iCloud Documents, which has the ability to push any changes to all of one’s devices, so documents are always up to date.
Apple is doing away with iChat and replacing it with the Messages app that allows one to send unlimited messages, photos and videos directly from their Mac to another Mac or iOS device. The Messages app will continue to support other IM clients, like AIM, Jabber, Yahoo! Messenger and Google Talk. There are other enhancements as well with Mountain Lion and Apple says, “Mountain Lion presents notifications in an elegant new way, and Notification Center provides easy access to alerts from Mail, Calendar, Messages, Reminders, system updates and third party apps. System-wide Share Sheets make it easy to share links, photos and videos directly from Apple and third party apps. Twitter is integrated throughout Mountain Lion so you can sign on once and tweet directly from Safari, Quick Look, Photo Booth, Preview and third party apps. Mountain Lion also introduces AirPlay Mirroring, an easy way to wirelessly send a secure 720p video stream of what's on your Mac to an HDTV using Apple TV.”
Apple has added various other features to the latest OS and for more information on the features of Mountain Lion, click here.
Published Date: Feb 17, 2012 11:29 am | Updated Date: Feb 17, 2012 11:29 am


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Sports-oriented video-streaming specialist fuboTV (FUBO -1.50%) delivered an analyst-stumping earnings report on Tuesday evening. CEO David Gandler also gave investors a candid preview of where the media market is going.
Let's dive in and take a look at this young company's first earnings report since entering the NYSE market in October.
FuboTV's third quarter by the numbers
The company is pulling off some absolutely amazing growth right now. FuboTV's revenues rose 47% year over year (or 71%, if you exclude 2019 revenue from the FaceBank operation that was sold to a group of private investors in July). FuboTV added 169,000 subscribers during the third quarter, amounting to a 58% increase from 286,000 paid subscribers in the second quarter.
The skyrocketing subscriber additions are even more impressive when you consider that fuboTV also raised its prices dramatically in the third quarter. The average revenue per user (ARPU) rose 14% year over year to $67.70 per month, a price boost that accounts for adding Walt Disney (DIS -0.32%) sports station ESPN to its channel lineup.
Going forward, fuboTV plans to supplement its subscription fees and ad sales with a third revenue stream. The company is working up an online sports betting platform that will bring it into a market that should be worth $155 billion in annual revenues four years from now. Since fuboTV's streaming TV channel portfolio is heavily weighted toward live sports, management is wagering that the average subscriber will be interested in laying odds on the content they're watching. The platform would generate additional revenues while inspiring participants to watch more TV. It's certainly an unusual approach to the live TV market.
The details on how the betting will work and when it will be available are still up in the air. Stay tuned for further updates.
COVID-19 only sped things up a bit
On the earnings call, fuboTV CEO David Gandler noted that the COVID-19 pandemic merely accelerated his company's growth in the third quarter. Industry changes were already underway when the pandemic struck.
"Look, at the end of the day, COVID really just accelerated what's been happening prior to this," Gandler said. "There's been a shift of TV ad dollars to connected devices well before COVID. We're starting to see the impact of that on a normalized basis in the sense that it really hasn't impacted our business in Q3."
This clear-eyed outlook is in line with earlier market commentary from sector peers Roku (ROKU 2.19%) and Netflix (NFLX 1.56%), among others.
"What we're seeing is a trend toward streaming that's been building for years now," said Roku CEO Anthony Wood in last week's third-quarter earnings call. "I think the pandemic certainly helped accelerate that trend and maybe tipped over some things a little bit, but it's a trend that was happening anyway and will continue to happen for some time because everyone doesn't stream yet."
Netflix co-CEO Ted Sarandos shared a similar message in his company's third-quarter call two weeks earlier.
"I think there was kind of a natural migration that was already happening, that this may have accelerated in some dimensions," Sarandos said. "I wouldn't look at this being that radical a change. I just think it's probably an accelerated change that may have already been in the works."
What's next for fuboTV?
I think it's pretty obvious that Gandler and his counterparts at Netflix and Roku are correct. The cord-cutting market trend in the entertainment industry has been going on for years. The global health crisis provided a large bucket of additional fuel for that fire, speeding up the shift toward digital media streams. These companies saw the digital shift coming many years ago and have been working toward grabbing significant shares of the explosive video-streaming market.
Luck favors the prepared, and that old proverb applies to fuboTV's fantastic third-quarter report as well. This seemingly overnight success was built on five years of marketing and product development, with a dash of coronavirus accelerant just as fuboTV joined the public stock market.
Let's see how much Gandler and his executive team have learned from the proven success stories of Netflix, Roku, and Disney+. Much can go wrong, and fuboTV is still a very small player in the streaming media market, but the company has an opportunity to stand on the shoulders of giants. I'll keep a close eye on this up-and-coming digital media expert.


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Regan accused in bribes case
TWO international businessmen arranged £1m bribes for each of two Co-op executives who controlled a massive food contract, a court heard on Tuesday.
Entrepreneur Andrew Regan allegedly planned to pay Israeli businessman Ronald Zimet £250,000 to put cash into two British Virgin Islands bank accounts in the name of Pitchblend and Monavale.
But Snaresbrook Crown Court heard that when Zimet was in Miami and spoke on the telephone to Robert Bonnier, former chief executive of online directory Scoot, it was suggested that he should increase the fee to £400,000. This was allegedly agreed by Regan, former chief executive of quoted company Hobson which was bidding to extend a £200m contract, said prosecutor Douglas Day QC.
Father-of-six Regan, 36, denies stealing £2.4m in 1995 in a bid to keep the contract that involved supplying the Co-op with tea, biscuits and custard.
The Serious Fraud Office claims that Co-op executives Allan Arthur Green, 57, and David Joseph Chambers, 56, got £1m each to extend the three-year contract. Both men deny corruption.
Solicitor Paul Vaughan Thomas, 42, who is alleged to have set up the offshore companies to facilitate the bribes, denies aiding and abetting Green and Chambers.
The case continues.
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Iconix Brand posts a 7% increase in its revenue for 2014
After a 7% growth in its revenue in 2014, Iconix Brand is expecting a 6% to 10% growth in 2015, notably thanks to the recent acquisition of Strawberry Shortcake and Pony. For its 2014 financial year, the American group recorded $461 million in revenue.
A specialist in brands under license, the group holds all or part of the rights of some thirty brands, including Umbro, Lee Cooper, Danskin, Badgley Mischka, Starter, Buffalo and Peanuts.
Its most substantial segment, womenswear, saw a 7% growth compared to 2013, amounting to $149 million. However, the menswear segment saw a negative trend, dropping 22% to $112 million. Its Home segment went up 7% to 44 million dollars, while its Entertainment segment, notably carried by Peanuts, jumped from 74 to 103 million dollars. The rest of its activities increased from 34 to 54 million dollars.
In 2014, the group notably became a majority shareholder in its European co-company, took back control of its Latin American branch, launched its Mossimo brand in Europe, and prepared the arrival of Lee Cooper in the United States.
The group saw its EBITDA stabilise at $264 million. However, its operating profit dropped from $58 to less than $50 million and its net income from $31 to $28 million.
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Although extreme weather events like Hurricane Sandy and Winter Storm Nemo, the massive blizzard that recently paralyzed the northeast U.S., appear to be occurring more frequently, small retailers and e-tailers say they are unprepared for natural disasters—even though repercussions such as lengthy power outages could sink their businesses.
Nearly three out of four small business owners do not have disaster recovery plans, and 84 percent do not carry natural disaster insurance, according to a survey of SMEs conducted by e-commerce companies Alibaba.com, Vendio and Auctiva.
Carried out in December in the wake of Hurricane Sandy, the survey polled 600 small retailers, most of them selling goods and services online.
Because they depend upon computers and Internet access, e-commerce companies are seen as particularly vulnerable to power cuts and network service disruptions. More than 8 million homes and businesses lost power during Hurricane Sandy, recently determined to be the second-costliest storm in U.S. history.
Yet 71% of survey respondents said their businesses lacked a back-up generator that could be used in case of electrical outage. Some said they would be forced to close down if storm damage was “severe.”
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Survey participants were not asked why they had no contingency plans for coping with natural disasters. It’s reasonable to assume not all are fatalists. A more likely explanation is that most small businesses are hard pressed to shoulder the costs of maintaining back-up systems or paying for insurance. Many of the respondents were home-based companies with fewer than five employees, although small companies running warehouses and small bricks-and-mortar shops also participated.
Lack of awareness could also account for complacency. Slightly more than three out of four respondents said their businesses had never been affected by a natural disaster.
Still, 15% of businesses surveyed said they were in the process of drawing up disaster recovery plans. Many others clearly had given it some thought. About two out of three respondents said that even if disaster strikes, they believed they could run their businesses from mobile devices such as a tablet computers as long as area cellphone service or wi-fi is available. About 30 percent said they expected to be unaffected because their business information is stored in the cloud, meaning mission-critical functions were managed on remote servers that would likely be beyond the reach of regional disruptions.
Other findings from the Alibaba 2013 Small Business Disaster Preparedness Survey:
- 70 percent of respondents said they felt vulnerable to natural disasters.
- 23 percent said their IT systems/assets are onsite.
- If hit by a natural disaster, 42 percent would try to rescue products, inventory or office materials.
- 37 percent of respondents are not sure how long it would take them to return to “business as usual” if disaster struck. One-third said one week, while 16 percent said two weeks.
- Asked how they would communicate with customers during a disaster, 86 percent said by e-mail; 42 percent said phone and text messages; 27 percent said through their website; 22 percent said they would use Facebook (Twitter 8 percent; Google+ 5 percent, and LinkedIn 4 percent).
- Asked what creative tactics they would use to maintain sales and preserve relationships during a disaster, the top 5 responses were: 1) Communicate closely with customers on the status of the business and product deliveries. 2) Start an online disaster discussion group to provide help and advice. 3) Give discounts or free items for those affected. 4) Eliminate shipping costs. 5) Donate a percentage of sales to disaster relief efforts.
Has your business been hit by a natural disaster? Tell us about it by commenting on this article.


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Lancaster, Pa.-based ice cream maker Turkey Hill has named two food and beverage veterans to its executive ranks.
Andy Jacobs, who has been a member of Turkey Hill's board of directors since 2019, is the company's new CEO. He replaces Tim Hopkins, who joined Turkey Hill in mid-2019 after Kroger sold off the business to a Peak Rock Capital affiliate. Hopkins had previously been CEO of PLM Operations, maker of La Michoacana frozen novelties and refrigerated drinks.
Jacobs most recently was EVP, chief operating officer, and chief customer and experience officer of Hostess Brands. Jacobs also previously was president of Wolfgang Candy Co. and held earlier leadership roles with sweets makers Hershey, Brach's and Nabisco.
Paul Gagliano joins Turkey Hill as chief customer officer after having served in the same role at SlimFast. Gagliano's prior roles include director of grocery at Pepsi Bottling Co. and SVP of North American sales for CytoSport, maker of Muscle Milk.
Fellow Turkey Hill board member Robert Pistilli said Jacobs' guidance had been instrumental to the company's success in the past two years and called Gagliano an accomplished commercial executive whose industry experience will be "pivotal in executing Turkey Hill's growth strategy."
Jacobs, in a news release, said he looks forward to working with Turkey Hill to accelerate the company's geographic expansion and new product innovation.
Turkey Hill was founded as a milk-delivery business in 1931, and the company's ice creams debuted in grocery stores in the Philadelphia area in 1981. In the past 20 years, Turkey Hill has doubled in size, now selling ice cream and other frozen treats as well as a selection of beverages nationwide and internationally, the company boasts.


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Berg Insight estimates that global cellular IoT module shipments increased by 22 percent in 2019 to a new record level of 265 million.
Annual revenues grew slower at 7 percent due to increased price pressure and a higher share of low-cost LPWA modules in the product mix. The 3GPP specifications for low power wide area communications – LTE-M and NB-IoT – will contribute substantially to growth in the next coming five years. While 5G coverage is improving rapidly across developed markets, 5G IoT modules will not be available commercially in significant volumes until the second half of 2020. The first 5G-enabled products will be routers and gateways that are likely to reach the market before year-end. Passenger cars equipped with 5G IoT modules are planned for release in 2021. Additional target IoT applications for 5G are video surveillance and other multimedia applications that today rely on wired communications.
The results of Berg Insight’s latest cellular IoT module vendor market share assessment show that the five largest module vendors have 71 percent of the market in terms of revenues.
Fredrik Stalbrand, Senior Analyst at IoT analyst firm Berg Insight, says:
“Annual module revenues for the five largest players Quectel, Sierra Wireless, Thales, Sunsea AIoT and Telit increased by 5 percent to US$ 2.2 billion, with the total market value reaching approximately US$ 3.1 billion.”
In 2019, Quectel became the number one cellular IoT module vendor for the first time, surpassing Sierra Wireless. Thales, which completed the acquisition of Gemalto in April 2019, was in third place, followed by Sunsea AIoT and Telit.
Cellular IoT module vendors will experience significant variability in sales across end markets in 2020 due to the Covid-19 pandemic. Utilities comprises the largest end market in terms of volume, in which smart metering projects continue as planned but sometimes at a reduced installation pace. Similarly, factory closings by major automotive OEMs and weaker demand for passenger cars will have a considerable impact on cellular IoT module sales for automotive applications this year.
Despite challenges in the short term, Berg Insight believes that the current situation will accelerate the digitalization trend in the coming years.
“Enterprises that have started their digital transformation journey are already at an advantage and today provide immense value for customers through remote management of processes, using connected devices to avoid unnecessary human contact”, concludes Mr. Stalbrand.


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Sportsbook specialist Kambi Group plc has announced a multi-year deal with South African gambling giant Sun International for the provision of a sportsbook and technology services.
Listed on the Johannesburg Stock Exchange, Sun International is one of the largest gaming companies in the Southern Hemisphere, with more than 25 hotels and casinos situated across Africa and Latin America.
The company also operates the South Africa-facing online sportsbook brand SunBet.co.za, which as part of the agreement will transition to Kambi's end-to-end sports betting solution.
SunBet currently operates using proprietary technology but will migrate to the Kambi Sportsbook, supported by a Bede Gaming backend platform, before potentially taking the brand into further markets.
In addition to the digital upgrade, provisions are in place for a roll-out of Kambi's retail product suite, initially across Sun International's South African-based casino resorts.
Kristian Nylén, CEO of Kambi, said: “We are delighted to have signed a company of the calibre of Sun International and, in doing so, increase our already substantial international footprint.
“Sun International is one of the largest and most respected gaming companies in South Africa and Latin America, and we are excited by the potential this new partnership offers.”
Anthony Leeming, CEO of Sun International, remarked: “One of Sun International's stated aims has been to increase the size of our online business and in Kambi we are confident we have selected the right partner to help us achieve this goal.”
The agreement represents the eighth successive quarter in which Kambi has signed a customer aligned with its regulated market strategy, having already concluded agreements with Greentube, Corredor Empresarial and Bulgaria's National Lottery AD earlier this year.


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OnePlus Pad was unveiled at the Cloud 11 launch event earlier this year, and the first tablet from the Chinese smartphone manufacturer is set to go on sale in India soon. The company will reportedly announce the price of the OnePlus Pad in India on April 25. The tablet will be available for purchase on Flipkart, Amazon and the OnePlus India website. It sports an 11.61-inch display with a refresh rate of 144Hz and is powered by a MediaTek Dimensity 9000 SoC. The new OnePlus Pad ships with a 13-megapixel rear camera
According to a report by Fonearena, OnePlus will reveal the price for the OnePlus Pad on April 25. The tablet will be sold via Amazon.in, Flipkart, the OnePlus online store as well as retail outlets.
It is worth noting that the company's website still states pre-orders begin this month and does not mention a launch date. It is also partially listed on Amazon.
The tablet was briefly spotted on Flipkart revealing the price details, which were removed by the ecommerce website. According to the Flipkart listing of OnePlus Pad spotted by Twitter user ROBINAYN (@ROBINAYN), the OnePlus Pad will be priced at Rs. 37,999 for the base 8GB RAM + 128GB internal storage variant, whereas the higher-end 12GB RAM + 256GB internal storage variant will cost Rs. 39,999. Additionally, the listing also suggests a discount of up to Rs. 2,000 on select bank cards.
OnePlus Pad specifications, features
The OnePlus Pad sports a 11.61-inch (2,800x2,000 pixels) display, with a refresh rate of 144Hz and 296ppi pixel density. The tablet is powered by a MediaTek Dimensity 9000 SoC coupled with up to 12GB of LPDDR5 RAM along with up to 256GB of UFS 3.1 internal storage. It runs Android 13-based OxygenOS 13.
For optics, the tablet ships with a single 13-megapixel rear camera and an 8-megapixel selfie camera. It is equipped with a 9,510mAh battery with 67W SUPERVOOC fast charging support. It measures 6.54mm in thickness and weighs 552 grams. Other features include 5G cellular sharing, Wi-Fi 6, a fingerprint scanner, enhanced text messages, and file sharing.
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For details of the latest launches and news from Samsung, Xiaomi, Realme, OnePlus, Oppo and other companies at the Mobile World Congress in Barcelona, visit our MWC 2024 hub.


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Taiwan’s Foxconn is reportedly considering a $2 billion investment with an Indonesian resources company to make electric vehicle (EV) batteries for cars and energy storage equipment.
Azis Armand, chief executive of Indika Energy, Indonesia’s third biggest coal producer, said a feasibility study for the proposed joint venture with the contract electronics giant is being prepared.
“The main interest is Indonesia’s large domestic market, which relatively has a low adoption rate … though we’re not ruling out export markets like Vietnam and China,” Azis said.
Indika, like many energy companies has been diversifying its businesses beyond coal amid a global push to end the use of fossil fuels.
A partnership was established between Foxconn, Indika and three other entities earlier this year in a memorandum of understanding to collectively invest $8 billion in EV and battery manufacturing in Indonesia.
Focusing on Non-Coal Businesses
Indonesia, which has a population of 270 million, has set a target of having 13 million electric motorcycles – including converted ones – and 2.2 million electric cars on its roads by 2030.
Indika has been focusing on boosting revenue from its non-coal businesses, such as gold mines and also EVs. It aims for 50% of its revenue to come from non-coal interests by 2025, from 12% recently, which Azis said was key to remaining relevant.
“If we look only at the coal sector, our participation won’t be sustainable in energising Indonesia,” Azis said.
It hopes to reach the 50% target with about $500 million of investment in the next three years, most going into its existing projects, such as electric bike brand, Alva, which will be launched commercially in August.
Indonesia has been trying to court Foxconn for years but a previous deal agreed in 2015 collapsed. Foxconn did not immediately respond to request for comment on the Indika partnership.
- Reuters, with additional editing by George Russell


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Rated as the best original programming service
Although video streaming giant Netflix (NFLX) may soon be facing increasing competition from media giants Disney, NBCUniversal, Time Warner, and others, viewers report that they still prefer it over any other service. According to a Morgan Stanley survey, Netflix’s original programming was rated the best among over-the-top subscription services and premium TV.
A whopping 40% of the 3,041 people surveyed by Morgan Stanley said that Netflix has the best original programming, compared with 39% in 2018’s survey. Time Warner’s HBO was a distant second, garnering 11% of the votes, down from 14% the year prior. Approximately 32% of the customers surveyed said that they didn’t know which service had the best original programming.
Netflix’s quality content means it can retain subscribers despite competition
Netflix, which added 18.4 million paid subscribers in the last two quarters, now has a remarkable 148.9 million paid subscribers worldwide. However, the company expects its subscriber growth to slow going forward, especially in the lucrative US market.
However, the company is spending billions of dollars every year to add to its already huge slate of quality original programming. While Netflix is set to face stiff competition going forward, especially in the United States, it may be able to retain subscribers with its original programming. The streaming giant still has scope to grow internationally, where it has been seeing most of its growth.


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BY MARLEY JAY
NEW YORK (AP) — U.S. stocks are down for the third consecutive day Wednesday as investors’ fears about tariffs and decreased international trade continue to hurt industrial companies. Banks are also falling as bond yields decline. Department stores and other retailers are losing ground after the Commerce Department said retail sales declined in February.
KEEPING SCORE: The S&P 500 index lost 17 points, or 0.6 percent, to 2,747 as of 3:20 p.m. Eastern time. The Dow Jones industrial average lost 257 points, or 1 percent, to 24,750. Earlier it fell as much as 338 points. The Dow is comprised of 30 large multinational companies and has been hit hard by concerns about tariffs, as it’s down 4 percent since Feb. 26. The Nasdaq composite fell 18 points, or 0.3 percent, to 7,492. The Russell 2000 index of smaller-company stocks declined 7 points, or 0.5 percent, to 1,584.
TRADE TROUBLES: Investors remained focused on the potential for new trade actions from President Donald Trump and leaders in Europe warned about the risks of trade disputes. European Union head Donald Tusk urged Trump to pursue more cooperation with Europe instead of putting tariffs on European goods.
The EU wants an exemption from the tariffs on aluminum and steel imports that Trump recently announced and has said it could retaliate with tariffs of its own. Meanwhile German Chancellor Angela Merkel said she can’t predict if those talks will succeed.
Stocks slumped after Trump announced his tariff plans. They recovered somewhat after the administration said it would grant exemptions to some countries, but have slipped again as investors worried about more tensions with Europe and China.
“Since the correction investors have been a little bit more sensitive to risk,” said Karyn Cavanaugh, senior market strategist at Voya Investment Strategies. “Before the correction investors were almost bulletproof.”
REACTION: Aerospace and defense giant Boeing slid $9.37, or 2.8 percent, to $329.30 and it’s down 6 percent this week. Arconic, which uses a lot of aluminum in making products for aerospace companies, lost $1.05, or 4.2 percent, to $23.90. Defense contractors including Raytheon and Lockheed Martin also declined, as did airlines.
Cavanaugh said a trade war is unlikely because the Trump administration is unlikely to take any steps that seriously harm global trade. While investors have sold industrial stocks, she said it’s possible some of them will benefit from changes to NAFTA or other trade agreements.
“You have to be careful when you’re trying to Washington-proof your portfolio because you don’t know what’s going to happen,” she said.
BONDS: Bond prices climbed, sending yields lower. The yield on the 10-year Treasury note fell to 2.81 percent from 2.84 percent, a significant move. That helped send bank stocks lower. Declining yields force interest rates on loans like mortgages lower, which hurts banks’ profits. Citigroup fell $1.41, or 1.9 percent, to $73.49 and Bank of New York Mellon lost $1.33, or 2.4 percent, to $54.64.
ECONOMIC INDICATORS: Retail sales dipped 0.1 percent last month as car sales declined, and so did purchases at gas stations and department stores. Kohl’s slid $1.97, or 3.1 percent, to $62.14 discount retailer Dollar Tree lost $2.19, or 2.3 percent, to $92.24.
The Commerce Department said shoppers spent more money online and at catalog retailers, and Amazon edged higher. Spending at restaurants, clothiers and building materials stores also increased.
SIGNET TARNISHED: Signet Jewelers plunged after the jewelry retailer gave profit and sales forecasts that were weaker than analysts expected. Signet also said it intends to cut at least $200 million in spending and will sell its non-prime credit receivables. It will take a loss of about $170 million on that sale. The stock dropped $9.32, or 19.5 percent, to $38.59.
CHECK ENGINE LIGHT: Tesla declined after Bloomberg News reported that a second senior finance executive resigned. Bloomberg said Treasurer Susan Repo left to become chief financial officer at another company. A week ago the electric car maker said Chief Accounting Officer Eric Branderiz left “for personal reasons.” Separately, CNBC reported that Tesla is having problems manufacturing some parts for its highly anticipated Model 3 sedan.
Tesla stock slipped $16.43, or 4.8 percent, to $325.41.
ENERGY: Benchmark U.S. crude gained 25 cents to $60.96 a barrel in New York. Brent crude, used to price international oils, added 25 cents to $64.89 per barrel in London.
Wholesale gasoline added 4 cents to $1.92 a gallon. Heating oil rose 1 cent to $1.89 a gallon. Natural gas slid 6 cents to $2.73 per 1,000 cubic feet.
METALS: Gold slipped $1.50 to $1,325.60 an ounce. Silver lost 9 cents to $16.54 an ounce. Copper rose 2 cents to $3.16 a pound.
CURRENCIES: The dollar fell to 106.25 yen from 106.61 yen. The euro slipped to $1.2375 from $1.2397.
OVERSEAS: France’s CAC 40 gave up 0.2 percent and the British FTSE 100 lost 0.1 percent. Germany’s DAX added 0.1 percent.
Japan’s benchmark Nikkei 225 lost 0.9 percent while South Korea’s Kospi fell 0.3 percent. Hong Kong’s Hang Seng dropped 0.5 percent.
AP Markets Writer Marley Jay can be reached at http://twitter.com/MarleyJayAP . His work can be found at https://apnews.com/search/marley%20jay .
Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Thoranna takes over as CEO of Veritas
The Board of Veritas has hired Thoranna Jonsdottir as interim CEO of the company, while Hrund Rudolfsdottir, that has successfully lead the Veritas Group for the last 10 years, has made a contract with the Board regarding her end of work. She will, though, be giving a hand to the Board and management.
The company is at a certain turning point. Ahead lies an extensive reconstruction of future warehouses and general infrastructure, as well as technological development in connection with that. It is a joint decision of the Board and the outgoing CEO that this is the right time to change the leadership.
„Hrund took over as CEO after me in 2013 and had been on the Board of Veritas for four years,“ says Hreggvidur Jonsson, Chairman of the Board of Veritas. „The company has grown and thrived significantly under her leadership and is financially strong. I thank Hrund for a prosperous cooperation for the last 14 years and for her part in the success that has been achieved. She will be missed and we wish her all the best in future tasks.
„It is delightful that the Board can rely on Thoranna to step in and bridge the gap, until a future CEO will be hired. Thoranna has been on Veritas‘ Board of Directors for the last five years, and was an employee of the Group many years ago. Thoranna, therefore, knows company matters well and this procedure was considered the best to lead Veritas into the journey that lies ahead,“ says Hreggvidur.
Veritas has five subsidiaries, Artasan, Distica, MEDOR, Stod and Vistor, which are all built on solid ground, specializing in importation, logistics and distribution of pharmaceuticals (Rx and generics), nursing supplies, laboratory products and other products for healthcare in Iceland; sales of OTC products and other health products. The companies are also leading in consultation, sales and servicing of high-quality medical devices, nursing products and laboratory products, as well as sales and servicing of mobility aids, orthopaedics and prosthetics, orthopaedic shoes and insoles, as well as compression products. The estimated turnover of the company in 2023 is ISK 33 billion and employees are around 260.
Thoranna has recently worked as independent management consultant, e.g. for Alvotech, Marel and several public institutions. She has served in various positions at Reykjavik University, served as dean of the Department of Business from 2013-2016 and prior to that as senior executive director of strategy and operations. Thoranna served as Business Development Officer at the sister companies Veritas and Vistor in 2005-2008, she was the first General Manager of Artasan and one of the founders of Audur Capital. Thoranna has extensive experience of board membership, she is Chairman of the Board of Landsbref, a member of the board of Veritas since 2018 and prior to that, among others, served on the boards of, Krónan, Íslandsbanki and Lyfja. Thoranna holds a doctorate in business from Cranfield University, an MBA degree from IESE in Barcelona and a master´s degree in pharmaceuticals.


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Meet the Young Communist League USA.
Meet the Young Communist League’s new t-shirts for sale.
These “Smash Capitalism” shirts are sold on Zazzle’s “Value T-Shirt,” which is not made in the USA with associated worker protections but rather in an inexpensive third world factory where workers are paid pennies an hour. That’s the only […]
If you are considering buying a shirt made in Cambodia — or any shirt on a webpage like this one at CafePress where country of origin is obscured to keep you in the dark — I encourage you to read Ken Silverstein’s recent article on women who enter the sex trade to escape the worse […]
Hybridized noun, a feeling of desperate, predatory hunger, such as that felt by a monstrous raven, looming over a subdued animal that it intends to enjoy as its next meal.
Ravening is also a t-shirt, featuring a graphic image to fit this irregular definition.
The shirt is made in the U.S.A. because, although we […]
Are you a member of an organization — a school, an activist group, an ethical non-profit, a community sports team — that is looking to buy shirts in bulk? Are you particularly interested in supporting ethically-made, sweatshop-free t-shirts? Would you like to support economic development outside the United States in your choice?
Until this […]
In tomorrow’s Washington Post, James Loewen writes a succinct refutation of the notion that the South seceded from the Union and sparked a bloody war 150 years ago because of its dedication to the principle of states’ rights. Loewen points out that the Southern states’ written declarations object to Northern states’ autonomous decisions to:
Nicholas Kristoff says the best thing Americans can do for poor people living in the Third World is to buy crap made in sweatshop factories where people don’t make enough money to support their families, because even though they’re exploitative jobs, they’re better than the alternative — no jobs at all or sex slavery — […]
Three and a half years ago, I contacted Democratic Underground to ask them why, given their stance at the time against sweatshop production in factories, they were selling shirts many of which were likely made in sweatshops.
Three and a half years later, I haven’t heard a word back from Democratic Underground on this.
No, they’re not the Earth Scouts. But if you compare the Girl Scouts of America to the Boy Scouts of America, the Girl Scouts come out ahead is some important respects. The Girl Scouts of America do not mandate that kids swear an oath before God; the Boy Scouts of America do. The Girl Scouts […]
The hand towels featured the official logo of the Rally to Restore Sanity and/or Fear, and the logo of Reese’s, which makes candies with chocolate that’s harvested by child slaves in Africa. The towel itself was manufactured not in the USA, but in India, where textiles factories have a long and consistent history of using child labor, paid pennies a day to work in dangerous sweatshop conditions, if the children are paid at all. […]
Do you believe that workers who make materials for the U.S. Government should work under the following conditions?
(i) the right of association; (ii) the right to organize and bargain collectively; (iii) a prohibition on the use of any form of forced or compulsory labor; (iv) a prohibition on discrimination which has the effect of […]


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Second-hand clothes sellers are set for lean times after the government suspended importation to curb new coronavirus infection.
Trade secretary Betty Maina said public safety and the need to improve sales of locally-made clothes informed the decision.
"Importation of used clothes is suspended with immediate effect to safeguard the health of Kenyans and promote local textiles," said the CS.
The clothes are, however, fumigated before being shipped in.
The move will deepen losses currently incurred due to poor sales attributed to harsh economic times, and the slow business environment as many Kenyans shun markets in fear of getting infected by the coronavirus.
The CS spoke when she received a proposal from the private sector on intervention measures needed to restore vibrancy in the small and medium enterprise sector.
The proposal for Growth, Sustainability and Transformation of the Apparels and Textiles and Activation of the Cotton Value Chain urged the government to give incentives to local garment makers to boost their production.
“Kenya's goods abroad can be competitively priced if factories get access to cheap power and other tax breaks,” said the private sector proposal.
The team visiting Ms Maina said Kenya could generate more jobs if export apparel factories benefited from cheaper operational costs.
In 2019’s first nine months, traders spent Sh17.8 billion to import second-hand clothes and footwear, a rise of 6.88 percent or Sh1.14 billion compared to similar period in 2018.
This was a further growth compared to the Sh12.82 billion spent in similar period in 2017, and Sh12.43 billion in 2016, as data from the Kenya National Bureau of Statistics (KNBS) shows.
Newly clothes exports account for more than 90 percent of Agoa exports to the US through which Kenya netted Sh68 billion last year, according to statistics by state-run Export Promotion Council.
The lucrative second-hand clothing market has seen traders from China — a major source market — open shops in Gikomba, Kenya’s largest informal market for mitumba, in recent years.
This has prompted the country to create a protectionist clause within an investment policy, yet to be rolled out, aimed at identifying sectors, which will be exclusively reserved for domestic investors.
Previous efforts to ban second-hand clothes have failed, however, under pressure from source markets which termed the move protectionist and threatened to retaliate on tariffs.


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CyberConnect2 CEO Hiroshi Matsuyama announced that a new game reveal from the company is coming in February (Thanks, Ryokutya2089)! Matsuyama states that the new game will “definitely get people talking” and “promises to shake the world”. Additionally, CyberConnect2 is preparing for the .hack 20th Anniversary in June 2022. The company also shared sales numbers for their latest games:
- Demon Slayer Kimetsu no Yaiba – The Hinokami Chronicles – 1.32 million
- Dragon Ball Z: Kakarot – 4.5 million
- Naruto Shippuden: Ultimate Ninja Storm 4 – 8.7 million units
Lastly, .hack//G.U. Last Recode releases on March 10th for Switch. Stay tuned at Final Weapon for the latest Japanese gaming news and updates!


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Toyota, which lost money in Europe between 2008 and 2011, started turning things around two years ago by cutting labor at places like UK factories while consolidating production of models such as the Auris and Yaris hybrid vehicles. During the most recently completed financial year, Toyota Europe reported earnings that were up 75 percent from the year before, despite revenue being up just five percent. The company also aims to sell at least 1 million vehicles in Europe by next year and is boosting sales in countries like Russia.
Late last year, Didier told Bloomberg News that Toyota's European market share was rising about one percentage point a year, while production at Toyota's factories in countries like France, Turkey and the UK were running at full capacity. Toyota estimated at the time that hybrids accounted for about a fifth of Toyota's European sales.


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GVC Holdings is getting very close to closing its blockbuster bid to take over Bwin.party. If they’re successful, the deal could dramatically change the face of the online poker industry.
Earlier this week, Bloomberg.com reported that GVC had teamed up with Amaya Gaming (owners of PokerStars) to offer Bwin.party 906.5 million-pound ($1.4 billion USD) for the whole company. That comes out to 110 pence per share and is an 11% boost over the the stock’s current trading price.
GVC Holdings CEO, Kenneth Alexander broke out his best businessman man buzzwords when describing the deal telling Bloomberg News:
Based on our experience with the successful Sportingbet acquisition and restructuring, we believe that the potential combination of GVC and bwin.party would result in substantial financial and operating synergies and represent an excellent opportunity for both GVC and bwin.party shareholders.
Part of that value for shareholders would come from the fact that GVC wouldn’t be ponying up the entire $1.4 billion. They’ll be getting some financial assistance from Quebec-based Amaya Gaming. Amaya is no stranger to massive deals, last year they put up billions of their own to acquire PokerStars.
If the deal goes through, GVC would maintain control of Bwin.party’s sports betting business, while Amaya would take control of the casino side of the business.
All parties are in agreement that Bwin.party is in pretty good financial shape. In an announcement to the press, the company said that Bwin.party’s three month financial performance was, “in line with expectations.”
This is, by no means, a done deal. Bwin.party is definitely entertaining offers from other suitors though Alexander says he’d be, “staggered,” if they deal didn’t go through.


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On September 23, 2021, congratulations to Kale Fans for the successful listing of A shares in Shenzhen Stock Exchange!
Stock Abbreviation: KALE Shares
Stock Code: 301070
KALE FANS sold 16.18 million share at 27.55RMB per share. At 9:25 am on September 23, 2021, with the exciting opening bell ringing in the lobby of the Shenzhen Stock Exchange, Kale Environmental Technology (Shanghai) Co., Ltd. was officially listed on the Shenzhen Stock Exchange’s Growth Enterprise Market.
Leaders of Songjiang District, Shanghai, agency representatives, partners, company executives and employee representatives attended the Kale's listing ceremony and witnessed an important scene in the development of Kale's company.
Kale’s Chairman Lu Xiaobo said: Kale’s listing is an important milestone in the company’s development history. We will take this listing as an opportunity to strictly abide by regulatory. Always uphold the original intention of “manufacturing excellent products, providing quality service” for our customers. Work towards the vision of "Fan the world, and renowned the world over”.
Mr. Liu Fusheng, deputy district governor of Shanghai Songjiang District People’s Government attended the listing ceremony of KALE FANS and delivered a speech: Kale was successful listed on the Growth Enterprise Market represents, which is a milestone breakthrough for enterprise development. We sincerely look forward to taking the listing as an opportunity to continue to utilize its advantages in the field to inject new and powerful momentum into the G60 Science and Innovation Corridor in the Yangtze River Delta.
Today, KALE is standing at a new starting point for development. In the future, KALE FANS will continue to drive the development and prosperity of the industry with greater R&D investment, product innovation, and high-quality service levels, and make contributions to building a green and low-carbon society.
Post time: Sep-28-2021


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NEW YORK: Wholesale delivery startup Boxed is seeking a head of integrated communications to lead influencer marketing, philanthropy efforts, media relations, and internal comms.
The role was created following the exit of Boxed senior comms director Ash Prashar this month. The head of integrated communications will report to CMO Jackson Jeyanayagam and manage a team of two. The new hire will also manage the company’s relationship with PR AOR LaunchSquad.
"This is an expansion of the previous comms head role," said Jeyanayagam. "Before this, a combination of folks handled these responsibilities internally on the team."
Prashar declined to comment on his next move.
The head of integrated comms will lead PR, crisis and issues management, paid integrations, and executive and thought leadership, according to a job post about the role. Founded in 2013, Boxed allows consumers to shop for groceries and household products in bulk.
"This is a senior executive role that will have a seat at the table with the officers of the leadership group," said Jeyanayagam. "The new hire will be driving the overall communications goals and strategies for the company as we continue to scale. It’s an important role that will be essential to every function."
Jeyanayagam added that there are no other planned changes to the comms team at Boxed. The company is also seeking a VP of growth, a brand manager, and email marketing manager.


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A recent Gallup poll found that one in seven Americans say they personally use cannabidiol (“CBD”) based products. Approximately 90% of all respondents indicated that they used CBD for medical or therapeutic reasons. Top reasons for use included 40% for pain, 20% for anxiety, 11% for sleep, and 8% for arthritis.
Since the 2018 Farm Act federally legalized the cultivation of hemp, and Governor Ron DeSantis signed a state hemp program into law in June 2019, the CBD industry is poised to become a multi-billion dollar industry in Florida. Although you can now find CBD products almost everywhere—hair salons, med spas, grocery stores, online, even pet stores--federal and state regulations are still in the process of being developed. But, even though regulations are not yet in place, the Food and Drug Administration (“FDA”) is enforcing violations of existing laws against CBD companies that make unproven or exaggerated claims of the medical benefits of CBD.
CBD companies, and business that sell CBD products in Florida, should seek legal counsel familiar with the rapidly evolving laws and regulations effecting the distribution and sale of CBD products. The lawyers of Lubell | Rosen’s Cannabis Law Group are available to assist you to be in compliance with the laws.


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Video Content Startup VideoElephant Secures $1 Million in Second Round of Funding
23rd. October, 2014
A second round of investment in video content startup VideoElephant will fast-track company personnel expansion and growth in the US
VideoElephant, a Dublin based startup which aggregates and sells online video content for websites, has secured a further $1 Million in its latest round of funding. In December 2012 the online content marketplace received an investment of the same sum from venture capital fund ACT Venture Capital and Enterprise Ireland. This latest round of investment includes a new stakeholder, the AIB seed capital fund DBIC (Dublin Business Innovation Centre).
Founded in 2011, VideoElephant sources, aggregates and sells video content to web publishers who are looking to generate advertising revenue from online content. Recently marketing research firm Demand Metric reported that four in five marketers have found success in video content marketing, but “resources and the ability to produce quality content continue to get in the way of good work”. VideoElephant solves this problem by collating premium content from multiple producers, genres and categories into a single, easily accessible digital marketplace. The company also partners with ad networks and tech companies to offer publishers the complete solution: the video, the technology and the monetization under both license fee and revenue share models.
VideoElephant launched its website in 2013 with a content library of videos from blue chip providers including: AFP, National Geographic, ABC, VideoJug and Press Association. A year on the company has added, amongst others, ITN, Maker Studios and Newsy. It now stocks well over 100,000 short-form videos and 15,000 hours of long-form content, across 15 genres from news and sport to travel and cooking. With a further 300 pieces of fresh content added to the site daily, the company is fast becoming the go-to video content solution for online business
According to Stephen O’Shaughnessy, Founder and CEO of VideoElephant,, “Our recent content and adtech partnerships wins, coupled with this latest round of investment supports our development in Dublin, and expansion into New York and Los Angeles, centres for innovation in our industry. Establishing our presence there will generate new content partnerships and extend our capability to provide end-to-end content solutions.”« Go Back


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Cash stolen during armed robbery at minimart, fine liquor
St. Ann, Jamaica — A Western Union store and shipping company owned by former government minister Osneal Lawrence was burgled and robbed in St. Ann in the early hours of Friday.
According to information received by OBSERVER ONLINE, more than $1.5 million was stolen from Western Union and at least $20,000 from a former congressman’s business.
It is understood that the business is located in the Coombs Plaza store on Moneagu’s main street.
Police investigators have so far found that the robbery was carried out by six men wearing masks and gloves.
A source close to the investigation revealed that the man was able to access the store after slicing open the entrance grill gate and breaking the glass door.
The culprits reportedly cut open a steel door to a Western Union Outlet vault and stole $1.6 million in cash before taking $20,000 from a shipping company.
The store’s alarm system was activated during the incident. The security company was notified and the police called.
Subsequent investigation revealed that the wiring to the store’s camera system had been cut.
In March 2010, Lawrence’s business in Monygue was robbed of over $1 million and several cell phones. That business at the time had Western Union and Digicel stores. It has not been confirmed if this is the same location that was breached on Friday.


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"While we have been in touch with our foreign partners, this is a matter for RIM to work out directly with Indian officials," said State Department.
India had given the ultimatum to RIM that if it won't provide the technology to decrypt Blackberry communications to the security agencies till Aug 31, India will ban its services in the country.
India wants access in a readable format to encrypted BlackBerry communication, on grounds that it could be used by militants. There are an estimated one million BlackBerry subscribers in the country.
UAE and Saudi Arabia had already banned BlackBerry services in the countries.
However, RIM is believed to be on the verge of reaching an agreement with authorities in Saudi Arabia with the help of the Canadian government.


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No Man’s Sky, the huge galactic exploration game that launched on PC and PlayStation a couple years ago, is coming to Xbox this summer.
The 505 Games-published port, which will include 4K and HDR graphics support on the Xbox One X, will follow what Hello Games founder Sean Murray calls “by far our biggest update so far” to the game, called No Man’s Sky NEXT. Hello Games isn’t detailing what specifically will be included in the upcoming free update, due to launch this summer, save for the few screenshots shown above.
I was really excited about this game before it came out, but its reception was definitely on the mixed side. That said, it seems like a lot of the updates made over the past couple years have been generally positive, and maybe the Xbox port will help give it a little more life. At the very least, I’ll get a chance to play it!
I’m also curious to see what other changes are due; the most recent update was, by all accounts, pretty huge.
—Linked by Dan Moren


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LG will be showing off a number of new devices at CES 2013 next week, and they have now released a teaser video and it would appear that one of the devices that will be announces is the new LG Optimus G2.
The LG Optimus G2 is rumored to feature a 5 inch Full HD 1080p display and a quad core 1.5GHx Snapdragon S4 processor, have a look at the video below, you get a brief look at the device around 0.17 seconds in.
We should have more details on the new LG Optimus G2 next week when it is officially announced, along with some actual photos of the handset and full specifications.
Source Android CommunityFiled Under: Android News, Mobile Phone News, Technology News, Top News
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Taubman Leaves Prison
Published: May 20, 2003
DETROIT, May 19— A. Alfred Taubman, the former chairman of Sotheby's Holdings, has been released from a federal prison and has reported to a halfway house to complete a yearlong sentence for fixing art prices.
Mr. Taubman, 79, the former chairman of Taubman Centers in Bloomfield Hills, which owns and operates 30 shopping malls in the United States, was picked up on Thursday from the Federal Medical Center in Rochester, Minn., by his private jet, a family spokesman, Chris Tennyson, said.
In December 2001, a New York jury convicted Mr. Taubman of fixing art prices while he was chairman of the art house. He is the largest shareholder at both companies.