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A new report whirring around the gaming industry suggests that the PS5 is indeed getting a new much-awaited variant, usually dubbed PlayStation 5 Slim. After the significant improvement in PS5 stocks around the world, Sony is finally looking to introduce a slimmer version with small performance boosts near the end of 2023.
The Leak, which boasts a successful history of prominent leaks in the gaming industry, has elaborated on new details regarding the upcoming model. A similar narrative was covered a few months ago by a renowned insider, Tom Henderson behind Insider Gaming, which also suggested a new model including a detachable disc drive.
- A new report suggests that Sony will present a new PS5 variant, using a new “die-shrink” treatment to reduce its structure, which will lead to less size, voltage usage, and weight.
- The new model will supposedly not be branded as “PlayStation 5 Slim, but will still feature a significant size reduction.
- The rumored variant will also not rely on the clumsy stands to balance itself.
- The new “PlayStation 5 Slim” will release in 2023’s third quarter, possibly in September if the previous report is evaluated.
Sony has previously attempted shrinking the PS5, but it was not a significant change and still has the original bulky exterior design. However, a proper PlayStation 5 Slim model is evidently in the works that bring a slew of changes to the console’s overall layout.
For instance, the new variant will utilize the new “die-shrink” technology to reduce its size and overhaul the design. The PS5 Slim model will use less voltage, thus requiring less cooling to function without overheating. The weight is also seeing a reduction.
The new model will also apparently come either without or with modifiable awkward stands used to balance the brawny tower. Furthermore, The Leak’s source suggests that Sony will not brand it as the “PlayStation 5 Slim,” opting for a different name. However, it will still heavily alter the overall design and make it slimmer.
However, there was no remark about a detachable disc drive in the new report but Tom did mention the prospect. The removable disc drive will be connected to the PS5 using an extra USB-C port on the console’s rear.
The timeline for Sony to release a new model just makes sense. The old gen has also seen the arrival of new variants in the same time frames, but this time it appears to be more about size than performance. For instance, the PlayStation 4 flooded the markets in 2013, and the PS4 Pro variant followed after three years.
Sony may also benefit from the new model since it may be cheaper to produce than the current PS5. All in all, we can anticipate it to have a whole new exterior look, and the performance will only be upgraded, if not stay the same.
Unfortunately, a release date is almost a year away; a long time remains before the rumors come to fruition. As per the new report, the third quarter of 2023 is anticipated for a retail release, with production starting in the second quarter.
The report by Tom Henderson also suggested a similar narrative, mentioning a release date of somewhere around September 2023.
What are your thoughts about a new PlayStation 5 Slim model coming in the third quarter of next year? Are you looking forward to a smaller variant, or would you prefer more boost in performance? Do let us know your opinions in the comments below.
Similar Reads: Final Fantasy 16 Will Remain A PS5 Exclusive For 6 Months
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Video: VR, AR, and MR: What's the difference?
Taipei-based StarVR today debuts a new virtual reality headset for the enterprise. With integrated eye-tracking and a so-called 100-percent human viewing angle, the StarVR One is a new addition to the growing field of enterprise-only head mounted displays, a hardware category that's still making a case for itself as consumer VR tech gets more impressive.
Also: 5 strategies for navigating VR in the enterprise TechRepublic
The StarVR One's 210-degree horizontal field of view corresponds to the natural human field of vision. That means the headset simulates peripheral vision, a shortcoming in most current consumer and enterprise headsets.
Accurately simulated peripheral vision enables more lifelike and immersive virtual reality scenarios, which is particularly beneficial in use cases such as flight simulation or teaching technicians to operate heavy machinery.
Also: VR: It's time to break up CNET
"StarVR continues its legacy of innovation that pushes past the barriers standing in the way of enterprise-grade VR experiences," said Emmanuel Marquez, CTO of StarVR. "StarVR is blazing new trails to deliver break-through technology for a new world of realism to support real business decisioning and value creation. With our StarVR One headset we are conquering the VR final frontier -- the enterprise."
It might be more accurate to say the enterprise is AR/VR's first frontier. While consumer applications are expanding, they're largely confined to the gaming space. The enterprise, however, is adopting VR at a blistering pace, particularly in the areas of operations & safety training, sales & marketing, and even human resources.
Enterprise-only headsets like the DAQRI and HTC's VIVE Pro are catering to that booming market. Google Glass has been reinvented and is having a tremendous second act as an enterprise-first AR headset.
Whether the market will continue to be so clearly differentiated into consumer and enterprise categories remains to be seen. With Microsoft set to debut a consumer version of HoloLens and Magic Leap finally bringing out a headset, the categories may converge in the same way most other personal and mobile computing hardware has.
For now, the StarVR One is an impressive tool for business training. The eye-tracking measures Interpupillary Distance and adjusts images for every viewer. The display concentrates high-quality rendering where the eyes are focused.
The eye-tracking can also yield intent data and gaze analysis, interpreting a user's eye movements.
The announcement came today at SIGGRAPH 2018, the annual conference on computer graphics.
Previous and related coverage:
Virtual reality is being investigated as a means to teach and rehabilitate those in prison.
Regular instruction can only do so much to prepare you for the worst case scenario. VRcould be an important new tool in the arsenal.

domain: news


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Scamspotter is a website that would let people know how to spot bogus stimulus checks, false vaccine offers, or other fake information. The common patterns used by scammers are also identified on the website like romance scammers ask to buy them a gift card or send money.
The new website is a collaboration between Google and Cybercrime Support Network, a nonprofit a company that helps the victims of online fraud. Quizzes related to common scam scenario are also available on the web to further help people identify scams, like receiving a message about a trip to Switzerland even if a user has not taken part in any contest.
According to Google, the scammers have taken advantage of the pandemic at an alarming rate. Federal Trade Commission revealed that during the coronavirus pandemic, Americans have lost around $40 million to various online coronavirus scams.
It further predicted that in 2020, above $2 billion will be looted through coronavirus scams or other online scams.
FTC also informed people in the beginning of May about the contact tracing scam through text message, a method used to track the spread of virus. Scammers ask personal information including security number, bank account or at times credit card number.
On the other side, Google and Apple have their own tools for contact tracing which are supported through apps built by public health agencies.
The purpose of the website is to educate and aware the elders who are more prone to scams and lose more money as compared to younger citizens, says Google. It also asks the young people to spread the information available on the website so the senior people around them can be benefitted.
Vint Cerf, Google vice president said it is essential for all of us to learn to identify the scams for which effort from all generations is required.
He further added that the internet should be a secure place for seniors as it has been invented by seniors.
Read next: Google search algorithm will consider ‘page experience’ as a ranking factor from next year


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From dispensing soda at rock concerts to cleaning office buildings, refueling jets and building trash incinerators, Ogden Corp. has tried it all-mostly with lackluster results.
Now, in its latest gambit to create shareholder value, the $2 billion, Manhattan-based conglomerate has turned its sights on the sexier entertainment business.
But investors aren't buying it.
Burned before by promises of rich returns that went up in smoke, they've been reluctant to latch on to Chief Executive Richard Ablon's new strategy. Ogden's stock has been stuck in a rut for more than five years. Its value probably would even have dropped if not for the generous dividends on the $20 stock.
But unless Ogden's latest venture pays off big, Mr. Ablon will be hard-pressed to continue the payouts. Worse, he will lose any shred of credibility he may still have on Wall Street.
"This is a company that changes its strategy every three years," says Robert L. Renck Jr., chief executive of institutional broker R.L. Renck & Co. "Why believe them now?"
Mr. Ablon acknowledges the problem. But he says investors will sign on when Ogden opens its first indoor theme park outside Los Angeles in May-combining a big-screen theater, live animal attractions, a retail store and a themed restaurant. "It will go a long way to validate the strategy," he pledges.
While investors remain dubious, Mr. Ablon has managed to convince some of entertainment's better names to sign on. In a flurry of activity over the past few months, Ogden has inked joint-venture deals with IMAX and Sony. It will film several big-screen features with Sony, and show them in 15 omni-theaters it will roll out with IMAX.
It's also bought a theme park in Florida and a 50% stake in concert promoter John Scher's company, Metropolitan Entertainment Inc., which is scoring big on Broadway with the hit musical Victor/Victoria. Mr. Scher says the partners plan to build amphitheaters, create television programming, and produce at least three upcoming Broadway shows. He says the $50 million joint venture can double its revenues in the next three years.
Rolling out amusement centers
In what Ogden hopes will be its most profitable venture yet, the company plans to roll out five or
six of its nature-based indoor amusement centers-called American Wilderness Experience-where families can immerse themselves in replicas of the redwood forest or Yellowstone National Park. Ogden has agreements in place to install the new amusement centers at up to six superregional malls being developed by Mills Corp. of Arlington, Va., and plans to spend $5 million to $10 million per site.
The entertainment strategy is already beginning to boost revenues. Sales in that segment grew 35% in the third quarter ended Sept. 30, to $131.4 million. But management has yet to prove that the businesses can deliver to the bottom line.
Mr. Ablon insists that the potential for profits is three to four times the 5% that Ogden earns on its more mundane businesses, including aviation and energy services.
"It has more apparent risk than some of our other businesses, but you can also hit a big home run," Mr. Ablon says.
Jonathan Stern, who developed the American Wilderness concept and sold it to Ogden a year ago, is confident that the company is a long-term player with good prospects.
"There is enormous potential to create value for shareholders in a short time," he says. Now a senior vice president at Ogden, Mr. Stern says the firm won't commit to a new entertainment project unless the potential for returns exceeds 25%.
Such opportunities are precisely why Ogden wants in on the $200 billion-plus entertainment field.
Ogden's biggest problem has been its many low-margin businesses. The company sold its building maintenance business and shed numerous other units to pay for the transformation, so far raising nearly $150 million. Some analysts have hailed the change, though the restructuring is running about six months behind schedule.
"It's an exciting story," says analyst Jeffrey Saut of Ferris Baker Watts Inc. in Baltimore, noting that mutual fund Fidelity Management and Research Corp. bought a million shares in the last quarter. "Some are starting to notice."
But shareholders have been burned before by believing rosy promises of high returns. A decade ago, the waste-to-energy business was supposed to be the company's big avenue to rapid growth. Ogden quickly built 28 incinerators, many costing $2 billion or more, before the whole industry took a dive. Ogden's revenues from the business have been falling since 1994.
Like Ogden's bet on incinerators, the foray into entertainment is risky. Other than managing some amphitheaters, the company has no experience in entertainment. It has mitigated some of that risk by joint partnering and acquiring talent such as Messrs. Stern and Scher.
But Mr. Ablon has a history of running into conflicts with the people expected to bring expertise to his new ventures. David Sokol, the promising young executive who ran Ogden's waste-to-energy business in its early days, left on bitter terms.
Also, Ogden doesn't have a lot of time to make its mark in the location-based entertainment business.
"It's a good strategy, and it's something that's attracting a lot of attention right now," says George Rosenberg of Leo J. Shapiro Associates, a market research firm in Chicago. "But it will hit a wall in about five years, and we'll see a big weeding-out. If Ogden is drawing up a five-year plan now, they need to be very cautious about year six."


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According to the eBay India Census 2012, 41% of its transactions happen in the Lifestyle category, while 48 per cent happen in the Electronics category.
eBay, one of the world's largest e-commerce platforms, has about 25 million traders globally and around 45,000 in India.
Traders body CAIT has joined hands with global e-commerce major eBay to upgrade, modernise and train domestic retailers to use online market place as an additional tool for expanding their business.
The California company said it was notifying its customers, and urging them to change passwords to protect their personal and financial information.
Security experts advised EBay customers to be on the alert for fraud, especially if they used the same passwords for other accounts.
The website displayed an "opening soon" message early on Wednesday. "Our shop owners are currently unpacking and getting settled."
US online giant eBay said Thursday the number of users potentially affected by a massive data breach could be as many as 145 million.
Research firm Frost & Sullivan estimates that, with close to 900 million wireless subscribers, 150 million users in India access mobile Internet.


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Lonely Planet sold to Brad Kelley's NC2
Travel guide publisher Lone...
BBC says no deal done yet for Lonely Planet
The BBC has denied "a ...
Business profile: Dominic Rowell
The travel industry has gon...
Lonely Planet 'sale' claims
BBC Worldwide may be lookin...
Publishers in 'dream' position, FutureBook hears
Publishers have "done ...
Lonely Planet to cut workforce by 10%
01.01.70 | Philip Jones
Lonely Planet is to cut 50 staff from its offices in the UK, Australia and the US as the travel industry continues to suffer in the global recession. The travel publisher, which employs 500 people worldwide, will axe 10% of staff. The majority of the job losses will be in Australia with six positions likely to go in the UK and several in the US.
Angela Wilkinson, media and communications manager in the UK, said the job cuts were "due to the global economic climate". She added, "we are taking these measures to ensure we can manage during these times".
Lonely Planet, which is 75% owned by BBC Worldwide, said it was consulting with its employees. Some positions will be made redundant whereas others will not have their contracts renewed. The main areas affected will be IT and online with the publisher "changing the scope" of some jobs.
According to Nielsen Bookscan travel book sales dropped by 8.7% in 2008 when compared with 2007.


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Technology and 4G mobile Data Consumption
Tuesday, December 17, 2013
Costa Rica is the regional leader in 4G data consumption through mobile devices and 4G networks.
America Movil (Claro) and Telefonica (Movistar) agree...
Concession of Frequency for 40 MHz Under Public Consultation
Tuesday, December 10, 2013
After suspending it for a second time, the Superintendency of El Salvador is consulting with operators over the tender for the radio spectrum for mobile telephony.
Luis Mendez, chief of the General Superintendency of...
A New Telecom in El Salvador?
Thursday, November 14, 2013
The auction of 40 MHz of mobile spectrum has launched a discussion on whether to add new operators to the market in order to avoid dominant players.
According to Giovanni Berti, CEO of Proesa, companies...
Objections to Spectrum Auction in El Salvador
Friday, October 18, 2013
The Superintendency of Competition believes that auctioning 40 MHz creates disadvantages for new entrants who want to enter the mobile phone market.
From a press release by the Superintendence of...
AT&T Comes to Latin America
Wednesday, September 18, 2013
In agreement with America Movil, AT&T will operate in 15 countries including all of Central America.
Expectations are that AT&T will today announce that it...
Behind the Sale of Telefonica's Assets
Wednesday, July 10, 2013
According to the president of the Spanish multinational, the sale of $500 million worth of its assets in Guatemala, El Salvador, Nicaragua and Panama will serve to "enhance" the company in the region.
Cesar Alierta, chairman of Telefónica, said the sale,...
The Cell Phone Market in El Salvador
Tuesday, June 18, 2013
A survey entitled Hogares 2012 has revealed that 90.53% of Salvadoran households have a cell phone, spending at least $10.53 a month on mobile phone communication.
This percentage is 2.08% higher than in 2011 when it...
Competitiveness in the Remittance Business
Wednesday, April 24, 2013
New firms are expected to entry in the remittance industry with new technologies, especially for mobile phones.
According to Luis Felipe Rodriguez, vice president and...
Digicel Announces Investments in El Salvador
Wednesday, December 5, 2012
The President of Grupo Digicel has announced investments over the next eighteen months of more than $40 million.
In his short visit to El Salvador, Denis O'Brien was...
Promises and Risks in Mobile Communications
Tuesday, November 13, 2012
The massive and growing use of mobile devices is hitting businesses hard, generating great opportunity and great risks.
A report from RSA (The Security of Business Innovation...


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Cisco Bows to Carrier Demand for Software Outside the Box
Ever since it was founded in 1984, Cisco has thrived by selling Internet switches and routers that inseparably combine its hardware and software expertise. It has persisted with this lucrative arrangement despite mounting industry pressure for software that can run on generic boxes from other companies. When service providers moan about "equipment lock-in," Cisco's name is often on their lips.
But Cisco Systems Inc. (Nasdaq: CSCO) will hope the grumbling subsides after it this week appeared to overhaul its entire approach. Bowing to customer pressure, the company has promised to sell some operating systems unattached to Cisco hardware and allow customers to use that software on a variety of third-party devices.
By giving customers a hardware alternative, this "disaggregation" could have a nasty impact on Cisco's earnings. But continued resistance would probably be even more damaging. In recent years, Cisco has faced a growing challenge from rivals like Arista that already provide software without hardware. As those companies have won business with data center providers, Cisco's switching market share has declined from around 70% in 2010 to the "mid-50s" last year, according to James Crawshaw, a senior analyst with Heavy Reading. (See Cisco Takes Bold Software Step to Counter White Box Threat – Report.)
Challenges have more recently arisen in the telco world. AT&T Inc. (NYSE: T) has been developing its own "white boxes" -- the generic gear that comes without software -- as an alternative to the proprietary equipment it buys from Cisco and others. Only this week, AT&T said it would deploy 60,000 white box routers in its mobile network over the next few years. Powering those routers will be an open source operating system called DANOS, developed by AT&T but now overseen by the Linux Foundation, an open source group whose influence is growing by the day. (See DANOS Fuels AT&T's White Box Binge and AT&T Preps White Box Routers for 5G.)
"We don't see it as a threat and we have a strong track record of contributing to open source," says Sumeet Arora, the senior vice president of engineering for Cisco's service provider business, in downplaying the ramifications of the AT&T announcement. Yet Cisco's move is clearly aimed at satisfying the demands of service provider customers for more open networks. IOS XR, the Cisco operating system that telcos use, will now be able to run on white boxes as well as Cisco's own hardware, merchant silicon and x86 servers, says Arora.
Should all of its customers decide to run IOS XR on white boxes, Cisco could be in trouble. Although profit margins are higher in software than hardware (due to silicon development costs), any collapse in hardware sales would hit the bottom line. "The absolute amount of profit on the pure software solution will be lower than the current model of hardware plus software," Heavy Reading's Crawshaw told Light Reading last year.
Next page: No reason to panic


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“It just seemed like a product that should exist,” said Peter Arlein, inventor of the first plant-based ski wax in North America. The Carbondale-based skier got his gumption to leap blindly into industrial chemistry after 20 years in the ski industry and a vision to turn his passion into purpose: making skiing carbon-free.
Earlier this year, Arlein pitched CORE for a community grant to launch MountainFLOW eco-wax into the Roaring Fork Valley. It was music to our ears and—as a team of avid skiers—to our boards as well.
“For recreational skiers to be drilling oil to make ski wax and then introduce petroleum into the snowpack and then into the rivers, it just seemed like an obvious problem where there should be a solution,” said Arlein.
If you’re not familiar with ski wax, it’s “a material applied to the bottom of snow runners, including skis, snowboards, and toboggans, to improve their coefficient of friction performance under varying snow conditions,” according to MarketWatch.com. In other words, wax makes skiing faster and smoother. But what then?
After application, wax sheds off boards and onto the snowy surface, which melts and makes its way into the watershed. Arlein estimates that if the Roaring Fork Valley switched from petroleum to plants in their ski wax, we would avoid 65,625 pounds of petroleum-based wax from being deposited into our waterways per year. (Math fact check: estimated skier visits of 1.4M x .75 oz. of wax deposited per skier visit.)
Arlein built the company around the belief that “the need for speed should not come at a cost to the environment and human health.” Unlike traditional ski waxes, which are made from petroleum by-products, in some cases including carcinogenic perfluorocarbons, MountainFLOW is sourced from six different plant-based compounds. The MountainFLOW team arrived at the formula after many iterations, “testing and testing until everything came up right.”
So does a product that passes muster for carbon, health and safety stand up to skiers’ ultimate test: going fast? To find out, Arlein and company set up controlled performance tests known as “speed traps.” Over two days and 40+ trials, MountainFLOW performed within 1% of a conventional ski wax, which “statistically speaking was exactly the same,” according to Arlein.
For Paul Perley, General Manager of the Ute Mountaineer, which carries the wax, the most important benefit is to the planet. “Obviously there are some environmental issues with wax. Just look at SWIX [a Norwegian company and a giant in the ski wax industry]; they went through a whole EPA review last year to get their wax approved for import into the U.S.” Perley, who couldn’t speak to how fast the eco-wax performs, says MountainFLOW has a dedicated following among local skiers: “There are some people who are really passionate about the product.”
To help the company get off the ground, CORE provided a community grant of $4,860, which Arlein says was “really instrumental in running the first production run,” giving him “legs.”
With production in full steam at a New York lab, MountainFLOW is now accepting pre-orders from ski resorts and rental shops where “there’s a real opportunity to make an impact; they go through the most ski wax.” Arlein is hoping Aspen Skiing Company will go the way of Killington ski resort in pioneering sustainable ski wax practices with MountainFLOW. So far a half dozen local ski shops, including the Ute Mountaineer, Summit Canyon, Bristlecone, Ragged Mountain Sports and Cripple Creek, have signed on to sell the wax this season.
MountainFLOW has also launched a $20,000 Kickstarter campaign where supporters receive ski wax for their pledges. The fundraiser runs through October 3rd and they hope to make deliveries in November, “just in time for opening day!” which is just what you’d hope to hear from a ski bum turned entrepreneur.


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Source Booksellers in Midtown Detroit has become a beloved neighborhood institution, though owner Janet Webster Jones, a longtime educator in the Detroit Public School system and the daughter of a public librarian, said bookselling was never in her plans. “I was never inspired to open a bookstore. That was the funny part,” she recently told Bookselling This Week. “I just followed opportunity and interest.”
In 1989, Jones traveled to Egypt to study how its ancient history informed Western civilization; on her return she began sharing much of her knowledge with friends, using books to support her conversations. When she was asked to bring some of her books “to sell over a table” at a church bazaar, Jones’ bookselling career was launched.
“It was interesting to me and I had fun doing it, and other opportunities came up to go to markets, churches, fairs, and bazaars,” said Jones, who soon learned how to buy books by reaching out directly to the publishers of the titles she liked. Jones likened her entrée into books to that of Ta Nehisi-Coates’ father, who ran a small publishing company in the basement of his West Baltimore home.
In the early 2000s, Jones found a more permanent home for Source Booksellers inside the Spiral Collective, where she shared a space with three other women-owned, African American businesses. In 2013, she moved the bookstore out of the collective and into its current location in Midtown Detroit.
Throughout its many iterations, Source Booksellers has maintained a focus on nonfiction titles, primarily in the genres of history and culture, health and well-being, metaphysics and spirituality, and books by and about women. “We offer a curated inventory; we select pretty carefully inside those four categories,” said Jones.
Source Booksellers’ location near Wayne State University, hospitals and health centers, cultural centers, and art museums attracts a wide range of people who also inform the selection of books the store carries. “We have a good, strong cultural mix of many different kinds of people,” Jones said.
The local reading community currently has a growing interest in ecology and sustainability — anything from water issues to urban gardening and farming. “A lot of organizations are putting their energies in this area,” she noted. “We try to stay in tune and in touch with a lot of that, especially because we are nonfiction. Anything we can do to promote our nonfiction categories and stay inside our lane, we do.”
The store’s special interests are reflected in its events. In addition to regularly scheduled classes in tai chi, qi gong, and chair yoga, Source Booksellers hosts book and author talks and other special programs. In February, the store hosted a black culture trivia game and a conversation about Riverwise, a new quarterly magazine focusing on the challenges facing Detroit’s neighborhoods. Author events have featured Carolyn Finney (Black Faces, White Spaces: Reimagining the Relationship of African Americans to the Great Outdoors, University of North Carolina Press) via Skype; YES! Magazine founder Sarah Van Gelder (The Revolution Where You Live: Stories From a 12,000-Mile Journey Through a New America, Berrett-Koehler Publishers); and Kiini Ibura Salaam (When the World Wounds, Third Man Books).
Source Booksellers also served as the official vendor at an offsite event for Keeanga-Yamahtta, the author of From #BlackLivesMatter to Black Liberation (Haymarket Books), that was hosted by Wayne State University’s Department of African American Studies.
In honor of Women’s History Month in March, Source Booksellers is planning an event on fashion that will highlight the life of Elizabeth Hobbs Keckley, the seamstress for both Mary Todd Lincoln and Sarah Cordelia Bierce, the wife of black classicist William Sanders Scarborough.
“We stay well-grounded in our four major categories and keep bringing to people, as much as we can, things that they’d be interested in,” said Jones. “I’ve never wanted to be a general interest store because I’m just too nosy. We stay in our category as a small boutique-like bookstore with a curated inventory.”
Since its start as a vendor at local markets, Source Booksellers has been recognized by both local and national publications. Earlier this year, it was featured in a Crain’s Detroit Business story on the resurgence of independent bookstores in Detroit and past coverage has included features in the Detroit Metro Times and by TV station WDIV Local 4.
“Bookstores add a particular and special texture to any community,” said Jones. “The bookstore is a place that doesn’t function like food retail or clothing retail or DIY retail, it functions very differently for people and for the community in which it serves.
“People can come to a bookstore without feeling like they have to buy something or do something or be something. It’s a much more open and friendly place for people to come, and it helps to solidify and create community. I’ve come to that understanding over time. Bookstores serve a very special function in all communities.”
For Independent Bookstore Day 2016, Source Booksellers invited customers to share their feelings about independent bookstores in video recordings for its Bookstore Stories project. Customers talked about their favorite bookstore experiences — not just at Source Booksellers. “People are usually real willing to talk,” said Jones. “We’ll continue to do that again this year.”
Jones, who was recently appointed by ABA President Betsy Burton to the association’s Booksellers Advisory Council, said she is looking forward to her first meeting and is already developing some goals for her time on the council.
“I appreciate the fact that ABA is trying hard to respond to Roxane Gay’s challenge about diversity. Over the years, I’ve heard some bubbling up about the issue of diversity at our meetings,” said Jones. “I hope that my voice can be of benefit to the council as well as to the work of ABA. I do have some things I want to be able to express in terms of the desire to reach toward more diversity.”


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Approval for 51 major retail developments was granted by the Mayor between 2002 and 2006, according to figures obtained by the Green party.
The malls given permission will together have about 5.3 million square feet of shopping. With other centres in the pipeline, as much as 10million square feet could be built over the next five years.
Critics fear this will accelerate the "cloning" of high streets by making it harder for independent stores to compete.
Jenny Jones, Green party member of the London Assembly, said local shops would struggle to survive against "the corporate might of identikit shopping malls filled with bland high street chains".
She added: "Once small shops and local services disappear from our high street, local residents often have to travel farther to shopping malls, putting further strain on public transport and roads."
The consumer boom convinced many big developers to sink billions of pounds in new centres to rival Brent Cross and Bluewater. The biggest, at 1.6 million sq ft, will be Westfield London in Shepherd's Bush, due to open by Christmas.
There are serious concerns about its effect on Uxbridge Road, which has an extraordinary range of independent stores. Other developments due in the coming years include Stratford City, the new Elephant & Castle shopping centre, Battersea Power Station and the former railway yards around King's Cross. There is also a plan to double the size of Brent Cross.
Independent shopkeepers who fear they will be driven out of business by the malls point to the experience of traders near other shopping centres outside London.
Shamim Uddin, who runs a fruit and vegetable shop in Elephant & Castle and has campaigned for better protection for traders, said: "When Lakeside opened they put all the small retailers in an area called Brompton Walk with low rents but it has been in steady decline as there was no necessity for shoppers to go to that end of the building. "If that doesn't work what chance has a London high street got?"
A spokesman for the Mayor said he recognised the importance of smaller traders and retailers. He has proposed that developers must include in their plans "affordable premises" for small shops.
The policy is expected to be enshrined in his London Plan later this year.


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Today, I spent the afternoon styling the promo shoot for Emma Berg and Kevin Kramp's dual MNfashion Week show. We shot at the new martinpatrick3/I.D. (inside design) space in the Warehouse District, fresh off opening its doors last Friday. Photographer Robb Long snapped each model - Emma's and Kevin's - in the parallel yet mirror opposite spaces, and he'll join the two in post-prod with his signature glossy style. I'm excited to see the final product. The images will also appear in an upcoming issue of The Journal.
Also on hand were MNfashion producer Emily Blanche, who is also producing the show on April 15; hairstylist Charlie Brackney, who just opened his own salon HAUS in South Minneapolis; and Vision model Mary Cann (back from a stint in Singapore where she nabbed a bunch of high-profile spreads).
Though the space is yet to host its grand opening (look for that to come in April), it was in impressive shape, expanding from martinpatrick3's cozier former digs a few blocks down and giving their gorgeous product room to breathe.


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How Zola CMO Victoria Vaynberg has introduced a new brand to expand its audience
Zola isn’t just a website for weddings anymore. Late last year, the e-commerce company went from a one-stop destination for all things wedding to include a new baby registry service, Zola Baby. Typically, a new service comes with renewed customer acquisition efforts. But this latest endeavor has revolved around word-of-mouth as opposed to shelling out ad dollars to find new shoppers, according to Zola CMO Victoria Vaynberg.
The company has experimented with out-of-home advertising in the past and currently has an active TikTok presence to help boost brand awareness. On this episode of the Digiday Podcast, we caught up with Vaynberg to talk about Zola’s TikTok strategy, growth in a new category and navigating today’s ever-changing digital landscape.
Below are highlights from the conversation, which have been lightly edited and condensed for clarity.
On expanding the Zola multiverse
To be honest, at the moment we don’t spend any paid acquisition dollars on baby [registry]. It’s really organic growth through our own existing community. Because we, from a wedding standpoint, are often part of a couple’s journey for 12, 15 or 18 months, we’re talking to them many, many times throughout this experience. We know that couples recommend Zola to each other. We are very much organically growing. We’re just marketing Zola baby amongst our own audience and then through some PR efforts. But yes, we’re not even spending there yet. That just goes to show the true customer experience that our couples get with Zola that they want to see that through to the next thing.
Test and learn channels
We love to test and learn. We definitely have our tried and true channels. We focus a lot on search. This is a very high-intent audience when they’re searching. So that’s a big piece of the puzzle for us — same with SEO in terms of producing content that brings somebody in. [We] do streaming and audio and social, all the kinds of major players and we test in and out. Throughout peak and engagement season, we’ll often run out-of-home campaigns so we are everywhere. For this category in particular, the digital landscape is challenging but we’re certainly trying to figure out how to best stand out on TikTok, which is undoubtedly the place that our target demo is spending a lot of time. That’s definitely a place where I’d say we put the most both organic and paid attention. With Instagram, it’s of course more challenging to make strides from an organic standpoint. So we started to try to balance those things.
Feeding the short-form video beast
We thankfully have some team members internally that have always been comfortable shooting content. The other nice part is one of the people internally who does appear on our TikTok the most is also someone who’s engaged. So there’s this real level of authenticity. Which, it’s a person who’s engaged, they’re also working here so they have lots of information on the wedding planning process. The nice part of TikTok is despite how much volume you have to produce, it’s a phone in your hand. It’s not that much equipment.
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We were proud to hear that readers have voted The Disney Blog best blog on Travel, Themepark, or Destination in the Sunshine Blog awards. A big thank you to everyone who voted and a huge thanks to Bess Auer at Florida Blog Con.
In just a few short years, Florida Blog Con has become a can’t miss event. It’s held in Orlando, but totally worth traveling to if you’re looking to up your social media game, improve your blog, or even just get started with a website or web app. Dates for the 2014 conference haven’t been announced yet, but tickets sell out early, so follow them to get the scoop!


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“You might get a luxury bag for $300 that’s usually $3,000,” said Melissa Akkaway. On May 12 at 4 p.m. PST, the founder of The Particulars — a site decided to accessories — will host an auction on Instagram Live @The.Particulars to benefit Baby2Baby’s coronavirus relief efforts.
Over 20 articles, new and gently used items by brands that include Celine, Goyard, Balenciaga, Fendi and Christian Louboutin, with a combined retail value of more than $100,000, will be featured. All bids will begin at $20.
“It’s important to start at a price point that’s affordable,” Akkaway continued. “We want to raise as much money as possible. We want this to be open far and wide.”
One-hundred percent of proceeds from the digital auction will go to Baby2Baby, a Los Angeles-based organization that provides children with basic necessities, from diapers to clothing and essential goods. Amid COVID-19, the charity has broadened its undertakings to supply urgent needs, like infant formula, baby food and snacks (through a donation by Plum Organics).
“It’s about upcycling in a way that is meaningful right now with what’s happening,” said Akkaway. Those opening their closets for the initiative, named Closets2Closets, include Cassandra Grey of Violet Grey, U Beauty founder Tina Craig, wedding and event planner Mindy Weiss, model and YouTuber Valeria Lipovetsky and Future Earth cofounder Stephanie Shepherd. “The more we can help the community, the more we can help people get out of difficult situations that they’re in.”
To take part, the public must register at the-particulars.com and bid in the comments section of the Instagram Live. “It’s see-now-buy-now,” she added. “And I’ll ship to them as soon as I can.”


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As per the latest shareholding pattern, ace investor Mukul Agrawal increased his stake in Dishman Carbogen Amcis during the June quarter.
Agrawal bought another 15 lakh shares of the company during the June quarter. Currently, he owns around 5.23% or 82 lakh shares of the company. His stake is worth around ₹127 crore.
With a market cap of around ₹2,400 crore, the small-cap company is in the business of manufacturing active ingredients and contract development and manufacturing.
The Pharma company has seen shares surge over 60% since the start of the year. Just today, the stock hit a new 52-week high of ₹160.85.
Price Action: Dishman Carbogen’s share price was down 1.50% to trade at ₹154.35 in the mid-market hours of trading on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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Posted on September 18, 2012 AT 10:11am
Deep Silver has just released the first teaser trailer for the upcoming sequel to Dead Island, and you can watch it down below!
Somewhat similar in tone to the first game’s teaser, the trailer for Dead Island Riptide shows a young couple on the verge of being eaten by the undead, and the drastic choice they have to make.
Riptide will take place after a monsoon hits the city of Henderson and jungle areas on the island of Palanai, with boats being the only remaining way of transportation. A fifth character will join the team, with an all-new and unique skillset that will be needed to take down the zombie mutations that have emerged all over the island. In new hub defense missions the co-op teamplay skills of the survivors will be tested to the limit, where traps, fences and turrets need to be placed strategically to fend off oncoming zombie attacks and to protect the survivors.
Dead Island Riptide will be released in 2013 for the PS3, Xbox 360, and PC.
Today's Top 10 Stories
Website Interface © 2012 EGM Digital Media, LLC.


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Ambarella (NASDAQ:AMBA) is slated to benefit from growth in wearable devices, but the company's stock price performance this year doesn't reflect its potential. Ambarella shares are down 25% in 2014, even though the company reported solid fourth-quarter results in March. Its revenue was up 26.8% year-over-year while non-GAAP net income improved to $8.2 million from $5 million in the year-ago quarter. Looking at the company's growth, I think investors should definitely consider capitalizing on the stock's pullback.
The GoPro partnership
Ambarella is slated to benefit from the popularity of GoPro's wearable cameras. Ambarella is an integral part of GoPro's cameras since it relies only on Ambarella for video compression and image processing chips. According to GoPro (via Fool contributor Rick Munarriz) --
"If Ambarella stopped supplying components on acceptable terms, or at all, or we experienced delays in receipt of components from Ambarella, we would experience a significant disruption in our ability to produce our products, and our business would be materially and adversely affected."
Ambarella is sitting on a good opportunity with the GoPro deal. GoPro had entered into an agreement with Microsoft (NASDAQ:MSFT) earlier this year to develop the GoPro Channel on Xbox Live. The channel will be launched on both the Xbox One and Xbox 360 platforms, and will also allow customers to purchase a GoPro camera directly from the Xbox. This looks like a big opportunity as Microsoft's Xbox console is quite popular.
Microsoft's recently launched Xbox One is expected to sell 9 million units in 2014, while the previous-gen Xbox 360 has sold more than 80 million units. If GoPro is able to sell its cameras to even a small percentage of Xbox users, it will be good news for Ambarella.
Strong camera sales and customers
Ambarella's camera business is gaining momentum due to strong sales in IP security cameras. This market segment is being driven by the transition from its analog CCTV cameras to high-definition IP security cameras.
For the last two quarters, Ambarella has shipped more system-on-a-chip (SoC) units for use in IP cameras than for any other camera category. Also, according to management, the company has seen significant gain in the market share.
Ambarella's key customers, Hikvision and Dahua, are driving sales of its professional IP cameras in China. In addition, the company is witnessing increased sales in all other regions as it is fulfilling customer requirements for high-quality, high-definition camera solutions with excellent low-light capabilities, highly efficient encoding, and very low power consumption.
DynaColor, a leading supplier for professional IP cameras, announced its new V8 series of ultra-HD fish-eye cameras in February, based on Ambarella's S2 camera SoC. Ambarella is also witnessing increasing opportunities in consumer Wi-Fi IP cameras for home security systems.
In addition to traditional home security companies, telecom and cable network operators are also introducing new cameras and video security services for consumers. Their offerings are expected to transition from standard-definition to high-definition in the future, providing additional opportunities to Ambarella.
Focus on product development
Ambarella is also focusing on product development as demonstrated by its SmartAVC video encoding technology. The company showcased the A5s SoC family during the 2014 Consumer Electronics Show in January.
Apart from wearable sports cameras, Ambarella is developing wearable camera solutions for social networking and vertical market applications. For example, Quadcopter is a new and exciting product category equipped with video cameras to capture unique views of buildings, wildlife, or sporting events. DJI Innovations, a leading supplier of HD video cameras in China, introduced its Phantom 2 Vision Quadcopter with an integrated HD video camera based on Ambarella's technology.
Ambarella also provides camera SoC solutions for video camera recorders or dash cams in the automotive aftermarket, sold primarily in Russia, China, Taiwan, and in South Korea. It has also introduced the new MotorVu 360 automotive surround view and recording camera reference design recently.
The Korean market leader, Fine Digital, introduced its FINEVu CR-2000 dual channel dash cam solution based on Ambarella's A7LA camera SoC. In addition, its Russian customers are now shipping over 20 new models based on Ambarella's A7LA camera SoC with many supporting Ambarella's advanced super-HD resolution and recording.
The bottom line
Ambarella has a big opportunity ahead to drive its revenue and earnings higher. The company also isn't too expensive. Shares trade at a trailing P/E ratio of 31 and a forward P/E ratio of 18. Also, the company has a pretty strong balance sheet with no debt and $143 million in cash. Ambarella can continue investing in its product development and expansion without having to worry about its financial condition, and this potentially makes the company a good buy.


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Flipkart, India &#x 2019; s leading ecommerce market, experienced a 54 percent boost in negotiating sellers throughout its just recently concluded Independence Day sale compared to in 2015, with significant involvement being available in from the MSMEs.
The Independence Day sale, which was held from August 6 to 10, likewise saw involvement from sellers mainly from Tier-II cities and beyond, Flipkart stated in a declaration.
The business stated, in the wake of COVID-19 pandemic, ecommerce has actually become the favored channel to get in touch with the customers, with increased interest from sellers to sign up with the online market.
Flipkart onboarded nearly 8,000 brand-new sellers to its online market, with more than 70 percent of them originating from smaller sized towns. Amongst the brand-new sellers, 450 of them ended up being lakhpatis in these 5 days, the business stated.
The brand-new sellers likewise secure free organisation incubation assistance for the very first 60 days, which equips them with insights in matters of item speed, assistance, and marketing assistance.
The Independence Day sale saw optimal involvement of sellers from New Delhi, followed by Surat, Jaipur, Mumbai, Bengaluru, Kolkata, Ghaziabad, Hyderabad, Ahmedabad, and Agra. Other places such as Dharuhera, Datia, Harapanahalli, Cachar, Motihari, Purnia, Tezpur, Sibsagar, Dholpur, and Etawah ended up being the brand-new cities that saw the greatest variety of seller involvement.
The essential classifications that led seller development consisted of – grooming, family books, media and products, food and nutrition, toys, makeup and scents, females ethnic modern wear, individual health care, house furnishing, and mobile defense.
One of the sellers on Flipkart, Bhupendra Patel from Panipat, who enjoys furnishings, saw nearly double the sale throughout this season. He resumed his operations on the platform by May-end, and his service has actually been taping 10-15 percent development every month. The seller likewise experienced brand-new clients for his items from the southern and eastern areas of the nation, where typically the need was low.
Want to make your start-up journey smooth? YS Education brings an extensive Funding Course, where you likewise get an opportunity to pitch your organisation strategy to leading financiers. Click here to understand more.


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Appcelerator is doing more than just letting you build mobile apps with the latest version of its mobile development framework, Titanium 2.0. Now the company is also providing an easy way to implement cloud services in your mobile apps — even if you’re not building your apps with Titanium.
Appcelerator Cloud Services opens the company up to an entirely new audience, Appcelerator CTO and co-founder Nolan Wright told VentureBeat in an interview last week. It’s driven by the company’s acquisition of Cocoafish in February. The ultimate goal for the company, not surprisingly, is to build a completely new type of mobile platform — one in which Appcelerator can provide services to all devs, even if they’re not using its platform.
“As a developer, you can consume these services easily with no additional setup,” Wright said. “In one environment, you can create both the mobile and cloud aspects of your app.”
Typically for cloud services, developers have to set up, write code, and manage a cl0ud server instance on Amazon, or some other provider. While that’s easier than the days of actually managing a physical server, it’s still too complicated for smaller developers, who just want to focus on building their apps.
Appcelerator Cloud Services is the next logical step in cloud offerings, Wright says. It allows devs to plug in cloud-powered feature like user management, photo storing and sharing, check-ins and other location services, social integration, and more. Wisely, the company is offering the cloud services to developers using Objective-C, Java, HTML5, and other publishing platforms — devs who typically wouldn’t have a reason to use Titanium.
Wright tells me that the company is offering the cloud services with a freemium model, which will scale depending on how much the cloud services are accessed. He believes that the cloud platform is strong enough to power mobile apps even as they get incredibly popular. Wright points out that other companies like Stackmob offer similar cloud services, but Appcelerator is the first to start with its own app development framework.
Given just how much of a lifesaver Appcelerator Cloud Services will be to devs, I asked Wright if the company is considering opening it up to non-mobile web apps. He said that plenty of the services could easily be applicable to desktop web apps, but the company hasn’t yet made any decisions for supporting apps outside of mobile.
Mountain View, Calif.-based Appcelerator has raised around $47 million in funding from Storm Ventures, Sierra Ventures, Mayfield Fund, and others.
Cloud phone photo via Shutterstock
The audio problem: Learn how new cloud-based API solutions are solving imperfect, frustrating audio in video conferences. Access here


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Glaston has signed a framework cooperation agreement with the Chinese Jinjing Group. The parties have agreed on a long-term, strategic partnership within the business fields of offline tempering, double- and triple-silver low-E glass, machinery and equipment, according to a release from Glaston.
“Energy efficiency and energy savings are topics that concern everyone today. One of the targets for this cooperation is to jointly take part in the setting of the high-end energy saving low-E glass tempering standard. We will also jointly promote high-end glass products and high-quality processing machinery and equipment in China and Asia,” says Frank Zhang, general manager of Glaston Asia.


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Intel launches its first quad-core chips on Tuesday – the product of a reorganisation at the world’s biggest chip company that is creating a dramatic acceleration in the performance of its products.
Over the past year, the company has moved from traditional processors with a single brain to those with two, and now four, in a move that has seen it overtake its rival Advanced Micro Devices and recapture its technology lead.
“In one year, we’ve achieved a four-fold increase in performance. That is stunning,” Pat Gelsinger, head of Intel’s Digital Enterprise group, told the Financial Times.
“We went through a period of not executing well, but we retooled and rebuilt the entire manufacturing and product model and now we are starting to deliver.”
Mr Gelsinger said Intel had switched from a system of teams working in parallel on server, desktop and laptop computers to “leapfrog” teams that had converged and were delivering products for all segments of its business at the same time.
This was demonstrated by its Core 2 Duo launch in the summer, with server, desktop and mobile dual-core processors delivered over a three-month period, based on Intel’s first new chip architecture in five years.
In future, Intel plans to introduce a new architecture every two years based on the new method. In the interim, it will be moving the existing architectures to chips with ever smaller circuit widths.
It has already moved from 90-nanometre to 65-nanometre widths and plans to progress to 45nm next year, introducing more efficiencies and cost savings.
Advanced Micro Devices plans to produce quad-core chips from the middle of next year on 65nm. It says Intel’s chips are not true quad-core in that its rival has combined two dual-core chips.
“With our pace of execution, we have now leapfrogged ahead of the competition and this is the heart beat we have laid out for the industry for the rest of the decade,” said Mr Gelsinger.
The first quad-core chips – the Xeon 5300 and Core 2 Extreme – are designed for servers and high-end gaming machines and work stations. Quad-core chips for general consumer desktop PCs are expected to follow next year.
AMD has been most successful in grabbing market share from Intel in the server segment, but the new Xeon processors offer 50 per cent faster performance than dual-core ones launched by Intel less than five months ago. The chips will cost between $455 and $1,172.
Get alerts on Intel Corp when a new story is published


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Wow! It's finally here!
And it looks like we were right! The duo did collaborate on an editorial for the latest issue!
Kimmy and Kara Cara pose for the cover with wet hair, eyebrows on fleek, and completely bare faces.
[Image via Instagram.]
Green Day definitely knows their fan base!
Which is why the band has teamed up with Converse to release a new Chuck Taylor shoe with each installment of their album trilogy!
¡Uno! was already released, so now they’re onto ¡Dos! It will be available at Converse and Journey's websites as well as a few stores starting on November 15.
There’s also an online contest where the winner gets tickets to a 2013 Green Day concert!
Sounds like an awesome plan! We can’t wait to see what the last shoe looks like!
[Image via Converse.]


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The biggest Warzone update is finally here and Activision has shut down yet another Warzone cheat provider!
Caldera has finally launched in Warzone. Along with the new map, the Warzone Pacific update also brings a series of new Operators and guns.
As is the case with any major update, Warzone will most likely see a big spike in the active players in the coming days. But the players won’t be too happy about these Caldera graphics glitches.
With the beginning of Season 1 in Warzone Pacific, it looks like Activision now wants to eliminate all the cheaters from their titles.
Activision Shuts Down Another Top Warzone Cheat Provider Mangocheats
Activision has taken legal action against “Mangocheats”, a Call of Duty and Warzone cheat provider. This is right on time as Warzone will have new as well as returning players thanks to the latest update.
It isn’t news that Warzone has a big cheater problem. The Warzone Pacific update hasn’t even been live for a day and players are already reporting cheaters in Caldera.
Twitter user ‘ModernWarzone‘ recently shared that Activision legal has struck again. And this time decided to take down Mangocheats, one of the popular cheat providers for the Call of Duty games.
However, many users demanded action against other top cheat providers, especially “EngineOwning”.
“When will they 86 engine owning it’s literally retail cheats my grandma could set that up”
This isn’t the first time Activision has taken action against cheat providers. Last month, Activision shut down the biggest Warzone Cheat provider.
In the meantime, if you are jumping into Warzone, the Season 1 Battle Pass Tier rewards will surprise you. There are more free rewards than ever before.
Finally, make sure you know how to report cheaters in Warzone Pacific’s Caldera. It is every player’s responsibility to help combat the growing cheaters in-game.


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Is it the beginning of the end for Dutch tolerance of weed? The recently elected conservative coalition has promised a number of controversial measures, including curbs on immigration, banning Islamic face covering, and of more interest to travelers, cracking down on legal marijuana smoking.
The Netherlands has been a destination for pot smokers ever since marijuana was made legal in the 1970s. The experiment intended to allow the use of soft drugs like pot while clamping down on hard drugs like heroin. It has had mixed success and as the political pendulum has swung to the right in recent years, more and more curbs have been put on the coffee shops where customers can buy and smoke pot. Magic mushrooms were banned recently, and some towns are restricting coffee shops or even closing them all down. There are currently about 700 coffee shops in The Netherlands, compared with 1,200 at their peak.
Now the coalition government wants to make all coffee shops into private clubs, effectively getting rid of the drug tourists. The question is, will this work? Common sense dictates that where there’s a demand, there will be a supply. Coffee shops might get around the law by offering temporary memberships or international memberships, or allowing members to bring guests. The measure would also not stop illegal sales of drugs. What it will do, however, is reduce the number of people coming to The Netherlands specifically to smoke their vacation away. While some of the bigger and more established coffee shops will no doubt survive, it looks like the industry is in for a bad trip.
[Image courtesy Tyson Williams via Gadling’s flickr pool]


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Country's third largest software services firm Wipro on Friday reported 18 percent rise in its consolidated net profit to Rs 1,716.4 crore for the third quarter ended December 31, 2012.
The Bangalore-based company had posted a net profit of Rs 1,456.4 crore in the year-ago period, it said in a filing to the BSE.
Consolidated total income of the IT major was up by 10 per cent to Rs 10,989.1 crore for the October-December quarter in the current fiscal against Rs 9,965.1 crore in the same period of 2011-12 fiscal.
The IT services revenue, which accounted for 78 percent of its revenues, stood at USD 1.577 billion in the reported quarter, up 4.8 percent year-on-year and 2.4 percent compared to July-September 2012 quarter. In rupee terms, it stood at Rs 8,602 crore.
"In constant currency, IT services revenue in dollar terms was USD 1.571 billion, within our guidance range of USD 1.560 billion to USD 1.590 billion," Wipro said in a statement.
"While the overall mood on economic growth continues to be muted, global corporations continue to leverage technology to drive revenues and productivity," Wipro Chairman Azim Premji said.
Wipro expects its revenues from IT services business to be in the range of USD 1.585 billion to USD 1.625 billion for the quarter ended March 31, 2013.
"We have seen broad based growth in the quarter with all our verticals growing sequentially. Our improvement in customer and employee engagement is reflected in client mining with 10 customers contributing more than USD 100 million and lower attrition.
"We continue to make investments in our go to market organisation and technology themes to be a strategic partner to our customers," Wipro IT Business Executive Director and CEO T K Kurien said.
The IT services segment had 1,42,905 employees as of December 31, 2012, an increase of 2,336 people in the quarter. It added 50 new customers in the reported quarter.
"We have expanded operating margins sequentially through improvements in revenue productivity and improved cash flow generation through efficient working capital management," Wipro's Executive Director and CFO Suresh Senapaty said.
Its IT products segment recorded revenue of Rs 997 crore for the quarter, a year-on-year increase of 11 percent, while consumer care and lighting business segment recorded revenue of Rs 1,028 crore, a growth of 17 per cent year-on-year.
Both businesses contribute about nine percent of its total revenue.
In November last year, the company had announced demerger of its non-IT businesses like Consumer Care & Lighting into a new company to focus exclusively on information technology.


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Does this worry you:
Business losses due to fraud increased 20% in the last 12 months, from $1.4 million to $1.7 million per billion dollars of sales. … 88% of the respondents reported being victims of corporate fraud over the past 12 months.
Those numbers are from a survey from the United States, and business people there sure don’t sound too confident in the system designed to prevent fraud. Does this matter here? Almost certainly. Without strong internal fraud-prevention controls and oversight, a legal framework alone cannot prevent fraud.
Aside from various forms of embezzlement and outright theft, and the growing risk of information theft (think hackers), two other kinds of corporate malfeasance have come to the fore in recent years: fraud in the business model and fraud in the business process. …
The most likely targets by industry are financial services, media, technology, manufacturing, and health care. Small and midsize companies are also more vulnerable. “Many of these organizations typically rely on a small accounting department, especially in today’s economy,” says [fraud consultant Steve] Pedneault. They simply don’t have the resources to catch fraudsters.
So try this:
- Start at the top.
- Educate employees.
- Change the culture ASAP.
- Surprise! We’re having an audit.
- Check (and double-check) employee backgrounds.
- Prepare a data-breach response plan.
- Make sure the board of directors plays its role.
No one should be surprised that these are just good, smart internal controls.
Read Laton McCartney in CFO Magazine for details.
First Reference Internal Controls, Human Resources and Compliance Editor


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It looks like virtual reality and augmented reality are about to join forces. Samsung has announced the HMD Odyssey, a device that appears poised to spearhead a new generation of VR mixed with AR experiences, thanks to 6DOF (six degrees of freedom) positional tracking and new 3.5″ OLED displays that provide 1440 x 1600 pixels per eye, among other exciting features.
This is the Samsung’s first foray into a fully self-contained consumer VR headset, having previously relied on cell phones for both the display and processing power in its Gear VR line.
The good news is this new device has the highest resolution you can get in a plug-and-play consumer VR device: 1440 x 1600 pixels per eye. Plus, it can handle a 90 fps refresh rate, for smoother motion. By comparison, Sony’s PlayStation VR has 960 x 1080 pixels per eye, Oculus Rift offers 1080 x 1200 pixels per eye, as does the HTC Vive. Finally, Samsung’s Gear VR has 1280 x 1440 pixels per eyes—still less than the HMD Odyssey.
This is a mixed reality device, a term Microsoft coined to encompass experiences that bridge the gap between AR and VR; it incorporates aspects of augmented reality and virtual reality to create an ultra-immersive experience—albeit leaning heavily on the VR gaming angle.
The HMD Odyssey comes with two cameras that each act as a “Six Degrees of Freedom” (i.e. 6DOF) sensor and offer inside-out tracking for position tracking that does not require base stations.
Unlike the self-contained Gear VR, you’ll need to connect to a Windows PC to use the Samsung HMD Odyssey. However, it is designed to be plug-and-play. By the way, the field of view is 110 degrees, which is practically identical to the 114-degree cone in which humans experience stereo vision.
In the press release, Alex Kipman, Technical Fellow at Microsoft was quoted saying, “We’re excited to welcome the Samsung HMD Odyssey to the Windows Mixed Reality family of devices. This is an incredible product and another important step for the mixed reality journey we are on at Microsoft. With the Samsung HMD Odyssey, the team at Samsung has developed a Windows Mixed Reality headset that will delight our fans looking to immerse themselves in the world of mixed reality this holiday.”
Since believable virtual reality immersion is dependent on high fidelity audio, in addition to crisp visuals, this headset also incorporates high quality headphones from AKG that offer “360-degree spacial sound.” Furthermore, the headset ships with dual motion-sensitive controllers, so you can interact with your mixed-reality environments.
The Samsung HMD Odyssey headset and dual controllers
Additional cool features include a proximity sensor, an integrated mic, and the ability to tweak the optics for maximum eye comfort. Plus, you can use the headset with eyeglasses.
Announced yesterday, you can preorder the HMD Odyssey now. It will retail for $499 with a release date set for early November.


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UK INFLATION has picked up again in May to 2.7 per cent on the consumer price index, after a surprise fall to 2.4 per cent in April. It has remained stubbornly above the Bank of England’s 2 per cent target since the financial crisis. With the exception of six months after VAT was cut in 2009, this continues a long run of above-target inflation, which began in late 2007 and has included two spikes over 5 per cent.
For once, high petrol prices are not to blame. Over the past year, petrol prices have fallen slightly, helping to hold down inflation. In other countries, an easing of global inflationary pressures has brought inflation down significantly. In the US and in the Eurozone, inflation is just half the UK rate – 1.4 per cent according to the latest figures.
There are two main reasons why our inflation rate has been stubbornly high. The first is the big fall in the pound since 2007, which has pushed up the cost of imports much more than in other countries. The second is the stubbornly high rate of services inflation, which has averaged nearly 4 per cent over the past decade – double the inflation target. Services account for about half the consumer basket. So it is very difficult to bring the inflation rate back down to 2 per cent while these prices are rising at double the target rate.
In the short term, inflation may rise higher as we move through the summer. If it rises above 3 per cent, the incoming Bank of England governor Mark Carney will have to write an early letter of explanation to the chancellor – not an auspicious start to his term of office.
Throughout this long period of above-target inflation, the Bank of England has promised a return to the inflation target over the years ahead. Though this remains the official forecast, it still looks too optimistic.
First, the UK economy is now picking up again after a period of disappointing growth over the past two years. As the economy strengthens, businesses may start to push through bigger price rises, and wage increases may also pick up from their current low rate.
Secondly, global economic growth is expected to recover next year, with the prospect of better economic news in Europe and a pick-up in some of the emerging market economies which have slowed recently. Since the early 2000s, stronger global growth has been accompanied by rising food, energy and commodity prices, as the supply of these vital resources has struggled to keep pace with demand. We may see another burst of this global energy and commodity price inflation – including higher oil prices – as the world economy picks up momentum again.
Thirdly, there is still the risk of a further fall in the pound adding to inflation – particularly while the official policy appears to be supporting a weaker currency to help rebalance the economy. So far, the Monetary Policy Committee has been reluctant to raise interest rates to counter this tide of sterling weakness and above-target inflation. But maybe the new governor will take a different view.
Andrew Sentance is senior economic adviser to PwC and a former member of the Bank of England’s Monetary Policy Committee.


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USA Sustainability Reporting
The Governance & Accountability Institute is the USA Data Partner for the Global Reporting Initiative. This page will announce Sustainability and Corporate Responsibility reports as they are issued in the USA.
For more information on our Data Partner activities and access to our reporting database please visit the SustainabilityHQ GRI US Data Partner Report Database & Repository.
USA Sustainability and Corporate Responsibility Reporting Announcements
January 29, 2020 Chiquita Announces New Updated Sustainability ReportSource: Perishable News
Chiquita is to launch its new and updated Sustainability Report this February, underlining the company’s long-term engagement to ensuring sustainability is embedded in everything it does, from farm to shop.
January 29, 2020 Southern Glazer’s Wine & Spirits Publishes its 2019 Corporate Social Responsibility ReportSource: Yahoo Finance
Southern Glazer's Wine & Spirits (Southern Glazer's)—the world’s preeminent distributor of beverage alcohol—today announced that it has published its 2019 Corporate Social Responsibility Report, showcasing its role in giving back...
January 14, 2020 Pork industry sustainability report shows producers' progressSource: National Hog Farmer
Today, the pork industry released its new sustainability report, Commit and Improve: Pig Farmers' Approach to Sustainability, as well as an updated website. The report and website share firsthand accounts and data supporting pig...
December 20, 2019 Covanta Releases Sustainability ReportSource: Waste360
Covanta, a world leader in sustainable waste and energy solutions, released its latest Sustainability Report, which provides a detailed look at the company’s substantial progress in sustainability and outlines a set of new...
December 17, 2019 Apache Corporation Releases 2019 Sustainability ReportSource: Globe Newswire
HOUSTON - Apache Corporation (NYSE/Nasdaq: APA) has released its 2019 Sustainability Report, which highlights the company’s performance in governance, environmental stewardship, health and safety, workforce development and...
December 17, 2019 Crown Castle Releases 2018 Corporate Sustainability ReportSource: Crown Castle
The inaugural report provides an opportunity for Crown Castle to connect with its key stakeholders and demonstrate the company's commitment to operating responsibly and sustainably as it focuses on delivering long-term...
December 9, 2019 S&D Coffee & Tea reveals sustainability commitment in new reportSource: Global Coffee Report
S&D Coffee & Tea has released its 2019 sustainability report, Rooted in Impact, summarising efforts and progress the company made throughout 2017 and 2018.
November 8, 2019 Sims Metal Management Publishes 2019 Sustainability ReportSource: Waste 360
Sims Metal Management, a global leader in metal and electronics recycling and an emerging leader in the municipal recycling and the renewable energy industries, announced the publication of its 2019 Sustainability Report. The...
November 7, 2019 Novolex’s first sustainability report underscores company’s commitment to plastic waste reductionSource: Plastics Today
Challenges are present every day in the plastics industry. To meet them and confirm its commitment to reducing plastic waste, packaging and foodservice product producer Novolex has published its first sustainability report. The...
October 31, 2019 DuPont Announces 2030 Sustainability GoalsSource: PR NewsWire
WILMINGTON, Del.-- DuPont (NYSE: DD) today announced its 2030 Sustainability Goals, underscoring the importance of sustainability in fulfilling its purpose of delivering essential innovations to help societies thrive. The nine...
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Apple’s iPhone XS Max is the biggest and the most expensive smartphone launched by the company. Even with its impressive CPU performance, the XS Max has one severe flaw — serious battery issues.
The battery for the iPhone XS Max
The problem with the iPhone XS Max battery is twofold. First, it has a very low battery life when compared to rival Samsung Note 9. According to a test conducted by the popular YouTube channel PhoneBuff, the XS Max battery was depleted while the Note 9 still had about 37 percent of its charge left. While Apple’s model comes with a 3,174mAh battery, Note 9 has a 4,000mAh battery.
But this does not fully explain why the iPhone XS Max performed poorly against its rival. After all, the iPhone XS Max is equipped with a more efficient 7nm chip while Note 9 comes with a 10nm processor. “Depending on the use cases, the XS Max battery could be sufficient for a lot of people. But if you use intensive apps such as games and social media and still want all-day battery life, the Note 9 could be a great choice,” according to an article at ValueWalk.
The second issue is with charging. Some XS Max phones have been reported as not being able to charge at all. Several angry customers who called up Apple’s support line were advised to replace the phone. It was later found that the problem was not with the phone’s hardware, but with its iOS 12 operating system. Apple quickly worked on the issue and has released the Beta 2 version of iOS 12.1. The final version will be released by the end of October.
However, people have been critical of Apple’s poor handling of the complaints. “They are pretty much known for not really handling it, they will steer as far away from acknowledging it as a problem as possible, and just make a statement about how we are using it wrong,” popular YouTuber Marques Brownlee said to Forbes.
New battery technologies
Apple is rumored to be exploring new battery technologies to improve the performance of its next model. While some experts predict that Apple will adopt Flexible Printed Circuit Board (FPCB) technology for batteries, others, like analyst Ming-Chi Kuo of KGI Securities, say that the company will instead be using Rigid-Flex Printed Circuit Board (RFPCB) batteries in iPhones very soon.
“For this he gave two reasons: FPCB requires a connector or hotbar that would consume more space, and the power integrated circuit can be mounted on the rigid part of an RFPCB with surface mount technology, which he said makes for a ‘superior battery,’” according to an article at Apple Insider.
There are also several tech companies working toward creating next-gen high-efficiency batteries. One that shows incredible promise is Power Japan Plus, which announced its new battery technology, dubbed “Ryden Dual Carbon.” The battery will charge 20 times faster than current lithium-ion batteries, last longer up to 3,000 cycles, and is much safer with fewer chances of an explosion.
To sweeten the deal, it can also be manufactured in the same factories where lithium batteries are produced. The batteries will be made from carbon materials, which makes them more environmentally friendly.


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The global CBD skincare market is projected to be valued at $1.7 Billion by 2025.
The once-humble cannabinoid has now surely cemented its place as a beauty industry staple and much more than just a fad.
But does the research back up the touted benefits?
Acne can be caused by hormonal imbalances, stress, unhealthy diets and improper skincare.
Spots are usually formed by a build up of sebum and bacteria secretions. If the skin produces too much of these then it can lead to acne.
A study published in the Journal of Clinical Investigation showed that CBD inhibited sebum production in the skin and also had an anti-inflammatory effect.
Psoriasis is a chronic autoimmune disease where skin cells grow and divide up to 10 times faster than normal. This makes the skin build up into bumpy red patches covered with white scales usually on the scalp, elbows, knees and lower back.
A study of psoriasis patients conducted last year in Italy showed that topical CBD products reduced these symptoms.
Five patients applied a cream to their affected areas twice a day for three months. The patients reported an improved quality of life as the itchiness was reduced.
Rosacea is a common skin condition that causes visible blood vessels in the face, inflammation and irritated bumps. It is characterised by red flushing or small pus-filled bumps or spots. The condition is often made worse by stress.
While there are no studies on CBD and rosacea, it could help with the anxiety caused by the condition which often makes symptoms worse.
An analysis of studies concluded that cannabinoids have potential to treat some types of anxiety disorders.


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Speculation is mounting that Apple will move some iPad and MacBook manufacturing out of China to Vietnam due to the ongoing US-China trade war.
At the request of Apple Inc, Foxconn, a significant Apple contractor that produces many of the corporate’s iPhones in Zhengzhou China will move, apparently within the first half of 2021, Reuters reported Thursday.
It is unclear which iPad and MacBook fashions can be made in Vietnam.
Nikkei reported that the Taiwanese multinational electronics contract producer is planning to move greater than 30% of its production traces outdoors China and had already invested $270 million in Vietnam.
The move comes after Trump administration reportedly used tariffs and different worldwide trade instruments to mount pressure on countries such as China to change agreements with the US. Critics argue that doing so could possibly be counterproductive as it would harm the U.S financial system and end in elevated costs on merchandise.
China’s “days as the world’s factory are done”, Foxconn’s chairman, Young Liu told investors again in August.
“No matter if it’s India, Southeast Asia or the Americas, there will be a manufacturing ecosystem in each,” Liu instructed buyers on a convention name, including that whereas China will nonetheless play a key function in Foxconn’s manufacturing empire, the nation’s “days as the world’s factory are done.”
According to Reuters, Foxconn is already constructing meeting traces for Apple’s iPad pill and MacBook laptop computer at its plant in Vietnam’s northeastern Bac Giang province, to come on-line within the first half of 2021.
When contacted, Foxconn mentioned in assertion: “As a matter of company policy, and for reasons of commercial sensitivity, we do not comment on any aspect of our work for any customer or their products”.


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DUBLIN, Calif.-The National Food Laboratory, Inc. says that it received notification from FDA accepting filing of the first rotary bottle filler intended for aseptic packaging low-acid beverages, in the United States.
This year marks the 50th anniversary of the Bomp Pop®, and Wells' Blue Bunny is marking the occasion with a special promotion. Wells' is running a sweepstakes that offers consumers a chance to win, by redeeming Bomb Pop sticks with winning code numbers. Prizes include a trip for four to Disneyland, and a Nintendo game system.
MONTREAL-Saputo Inc. is bolstering its market leader position for string cheese in the United States with a $23.9-million acquisition of Schneider Cheese Inc., Waldo, Wis. Schneider makes string cheese and cheese sticks under the Schneider brand name and private labels, with annual revenue of about $40 million.
Last month marked the fifth anniversary of the founding of Dairy.com. Following strong 2004 performance in which Dairy.com experienced high revenue and earnings growth, the company kicked off 2005 with an outstanding first quarter with record numbers of member companies (274), postings (over 20,000 loads), transactions (nearly 8,000), revenue, and a powerful new set of emerging solutions.


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Australian coking coal producers have regained their competitive advantage after a Free Trade Agreement inked between China and Australia in Brisbane on the afternoon of Nov 17th saw the immediate removal of the 3% duty on coking coal imports.
China will officially drop the 8% duty on Australian alumina imports, which has not been applied in recent years in any case, under the landmark Free Trade Agreement between the two countries announced Monday.
Ministry of Commerce of China released export quotas on a clutch of primary products and industrial metals in 2015. Most of the industrial products such as tin, antimony, indium and silver were still keeping the export quota policy except for tungsten and moly...
Tariffs of 3 per cent on anthracite and coking coal(HS code 27011100), 5 per cent on briquettes (HS code 27011900 and 27012000) and 6 per cent on other coals (HS code 27011210 and 27011290) were announced by the finance ministry on Oct 8th


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The Nasdaq-listed cryptocurrency exchange Coinbase announced Thursday at an event in Bengaluru that its trading platform will be fully available for retail traders in India.
The company said that customers will be able to buy cryptocurrencies on Coinbase using the Unified Payments Interface (UPI), the most widely used payment method in India. Coinbase began testing UPI payments a few weeks ago. However, the company did not disclose the names of its banking partners for UPI payments.
UPI, an instant real-time payment system developed by the National Payments Corporation of India (NPCI), accounts for 60% of retail payment traffic in the country. The NPCI, an umbrella organization for operating retail payments and settlement systems in India, is an initiative of India’s central bank, the Reserve Bank of India (RBI), and the Indian Banks’ Association (IBA).
Shortly after Coinbase’s announcement, the NCPI issued a statement emphasizing that it is unaware of any cryptocurrency exchange using the UPI payment system. The NPCI wrote:
With reference to some recent media reports around the purchase of cryptocurrencies using UPI, National Payments Corporation of India would like to clarify that we are not aware of any crypto exchange using UPI.
In May last year, amid talks of the Indian government possibly outlawing cryptocurrency, the NPCI said it will not ban crypto transactions on the UPI system, advising banks to make their own decision on whether to allow the use of UPI through their platforms. However, most banks in India are reluctant to work with crypto exchanges.


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Circuit City's annual Holiday Survey results came out today and—surprise!—the company reports that out of 2,200 poll participants, most want consumer tech this holiday. For the third year running, electronics have beat out "family trip," "new car," "home appliances" and "other" as the gift of choice for the majority (OK, 51 percent) of moms and dads taking the poll. But this is a bit of a drop-off from the 2004 numbers, when 74 percent said they'd prefer high tech toys to all else.
In detail, most gadget fiends want to receive new televisions more than any thing else, especially high-def sets. New computers ranked second, and third on the list for
men boys want video game consoles, while gals want digital cameras.
Take this as a reminder to make out wish lists—it's never too soon to ask for a Wii.
Press Release [PR Newswire]


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There has been no shortage of visual novels on the Switch, and that includes the Otome (story-based video game that is targeted towards women) genre. In an interview with GameSpark, a representative for game retailer GEO talked a bit about this genre getting more and more representation on Switch.
According to GEO, Otome devs and publishers are currently in the trial-and-error phase of bringing their games to Switch. Those devs were used to working with Vita, but have sense moved on, and are finding success on Switch. The movement started with a lot of ports and remasters, but GEO believes the Switch will start to see more original Otome games this year.


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The global pandemic has caused a shift in the eating patterns of many people in Europe.
CRAB lovers will simply rejoice when faced with succulent and flaky meat from the much-loved crustacean.
These dishes take little effort to make and are great for when you're pressed for time.
Being in self-isolation at home can spur people to come up with creative meals or even take the opportunity to start a vegetable and herb patch.
Despite recent widespread panic buying and hoarding tendencies, the data shows that there is more than enough food for everyone.
Feeding a family staying home during the movement control order period means making three meals and snacks too – a tall order for some home cooks. And so the children have to help too.
Now that we’re cooking more meals during this movement control order period, here are some recipes using Malaysian pantry staples.
Malaysian restaurant owners request for the government's help to pay staff salaries and rental, given the blow to their businesses during the MCO
WHILE some restaurants may rely on customers’ favourites to sustain their business, others place importance on innovating dishes on the menu.


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The experimental cloud game streaming service OnLive will eventually be available on smartphones such as Apple’s iPhone.
“Today, at a Wedbush financial conference in New York I showed OnLive running simultaneously on 2 iPhones, a TV, and a computer,” said company founder and CEO Steve Perlman (pictured).
Writing a blog post on the official OnLive website, Pearlman suggested that the iPhone edition of OnLive would get “the full OnLive Game Service”, where users can play games, watch other playthroughs and communicate through game profiles.
However, Pearlman revealed that the cellphone versions of OnLive are still very much in the early production phase. They will need extensive development and have no release date.
It remains unknown is how well OnLive performs on wireless cellphones, yet the jury is still out on the performance of the ‘native’ edition of OnLive for TVs, PCs and Macs.
“It’s important to understand that a cell phone is a very different beast than TV, PC or Mac,” warned Pearlman.
“And while we’re thrilled about eventually bringing many new games to cell phone platforms, currently, games on OnLive are tuned for TVs and computers.
“So initially, it’s the Community and Social elements of OnLive that we’re most excited about on mobile devices.
“We have further development to do and we need approvals from some cell phone makers before we can release OnLive to the public.”
OnLive is set for release in the US before the end of the year.


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Carnival Corp has reported a GAAP net loss of $2.2 bill fore the fourth quarter of last year and an adjusted net loss of $1.9 bill.
At the end of December, 2020, the group had $9.5 bill in cash and cash equivalents.
Carnival has also accelerated the removal of 19 less efficient cruise ships of which 15 have already left the fleet.
In total, the 19 ships represent about 13% of pre-pause capacity and only 3% of operating income in 2019. The sale of these less efficient ships will result in future operating expense efficiencies of around 2% per available lower berth day (ALBD) and a reduction in fuel consumption of about 1% per ALBD.
Carnival recently took delivery of two ships and expects only one more ship to be delivered in fiscal 2021, compared to five ships that were originally scheduled for delivery this fiscal year.
Based on the actions taken to date and the scheduled newbuilding deliveries through 2022, the company’s fleet will be more efficient with a roughly 14% larger average berth size per ship and an average age of 12 years in 2022, versus 13 years, in each case, compared to 2019.
On a more positive note, Carnival claimed that cumulative advanced bookings for the first half of 2022 were ahead of 2019, despite minimal advertising or marketing.
Carnival Corp President and CEO, Arnold Donald (pictured), noted, “2020 has proven to be a true testament to the resilience of our company. We took aggressive actions to implement and optimise a complete pause in our guest cruise operations across all brands globally, and developed protocols to begin our staggered resumption, first in Italy for our Costa brand, then followed by Germany for our AIDA brand. We are now working diligently towards resuming operations in Asia, Australia, the UK and the US over the course of 2021.”
“With the aggressive actions we have taken, managing the balance sheet and reducing capacity, we are well positioned to capitalise on pent up demand and to emerge a leaner, more efficient company, reinforcing our industry leading position,” he added.
Costa Cruises and AIDA Cruises have resumed limited guest cruise operations and other brands and ships are expected to return to service over time.
The initial cruises will continue with adjusted passenger capacity and enhanced health protocols developed with government and health authorities, and guidance from the company’s roster of medical and scientific experts.
Many of the company’s brands source the majority of their guests from the geographical region in which they operate. In the current environment, the company believed that this will benefit it in resuming guest cruise operations.
Working with governments, national health authorities and medical experts, Costa and AIDA have a comprehensive set of health and hygiene protocols that has helped facilitate a safe and healthy return to cruise vacations.
These enhanced protocols were modelled on shoreside health and mitigation guidelines as provided by each brand’s respective country, and approved by all relevant regulatory authorities of the flag state, Italy.
Protocols will be updated based on evolving scientific and medical knowledge related to mitigation strategies.
Costa was the first cruise company to earn the Biosafety Trust Certification from Registro Italiano Navale (RINA). The certification process examined all aspects of life onboard and ashore and assessed the compliance of the system with procedures aimed at the prevention and control of infections.
The company is also working directly with the US Centres for Disease Control and Prevention (CDC) on the development of protocols necessary to resume cruising from the US.
The CDC’s Framework for Conditional Sailing Order effective from 30th October, 2020 consists of several initial requirements that cruise ship operators will need to follow prior to resuming guest operations. Furthermore, the framework is subject to additional technical instructions and orders from the CDC and may change based on public health considerations.
Donald added, “The booking trends that we have consistently experienced throughout this period affirm the strong fundamental demand for our brands which will facilitate our staggered resumption and support the long-term growth of our company.”
Carnival Corp CFO, David Bernstein said, “We ended the year with $9.5 bill in cash and have the liquidity in place to sustain ourselves throughout 2021, even in a zero-revenue environment.
“While we raised capital mainly through debt this year, in the last few months we opportunistically strengthened our capital structure by raising $2.5 bill through at-the-market equity offering programmes and by the early conversion of $1.5 bill of convertible debt.
“As we return to full operations, our cash flow will be the primary driver to return to investment grade credit over time, creating greater shareholder value,” he claimed.
The pause in guest operations continues to have a material negative impact on all aspects of the company’s business, including the company’s liquidity, financial position and results of operations. As a result, Carnival said it expects to record a net loss on both a US GAAP and adjusted basis for the first quarter and full year ending 30th November, 2021.
Carnival’s monthly average cash burn rate for 4Q20 was $500 mill, which was slightly better than expected due to the timing of capital expenditures. The company expects the monthly average cash burn rate for 1Q21 to be about $600 mill.
This rate includes ongoing ship operating and administrative expenses, working capital changes (excluding changes in customer deposits), interest expense and capital expenditures (net of unfunded export credit facilities) and also excludes scheduled debt maturities, as well as other cash collateral to be provided (which may increase in the future).
In addition, Carnival said it was actively addressing an IT security incident affecting two of its brands, one of which was AIDA.
Based on a preliminary assessment and on the information currently known, the company said that it did not believe this incident will have a material impact on its business, operations or financial results.