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The levels of uncertainty that the Covid pandemic initially insinuated into economic and social spheres have quickly been replaced by rising inflation, a war in Europe, and locally, an unstable electricity supply. The art market has recovered since the recession the pandemic created but how resilient is it in face of these new challenges and have there been new areas of growth, given the NFT market has dwindled?
Most of the art market reports that came out in 2022 – produced by UBS and Art Basel, Credit Suisse/Deloitte and Art Price – largely reflected on the gains made since the pandemic hit in 2020. The figures are positive – the global art market grew by 29% in 2021, according to the The Art Basel and UBS Global Art Market Report 2022. However, this growth was constrained by challenges in China and reliance on Asian collectors makes the western art market vulnerable to the impact of events in the East. Amidst this context, 2021 and 2022 saw the rise of what has been termed Red Chip art – works produced by artists below the age of 40 who are commanding huge auction prices in a very short space of time.
In short, contemporary art or the ultra-contemporary as some tag it, is booming. As many African artists have made it onto the must-have lists of Red Chip art, this bodes well for the art market on the African continent, though the benefits at grass-roots level might be hard to quantify. Given that African dealers and auction houses on the continent are not reliant on Asian buyers, they have been less impacted by the negative developments in the East. However, the rise of Seoul as the new Asian art hub suggests that African dealers will eventually need to turn their attention east and cultivate buyers in that part of the world.
Next month African art dealers will have their attention focussed on the stream of international art collectors expected to attend the 2023 edition of the Investec Cape Town Art Fair, which will include many new dealers from the global South – such as Turkey and Egypt but also from Portugal and Spain. Undoubtedly, this event will shed light on buyer confidence.
Ukraine conflict has not had as much impact on the art market as commentators initially thought
Internationally, the current state of the art market is tricky to track, given most art market reports are retrospective and most researchers agree that the impact of economic events on it takes time to be felt – many speak of a 12-month lag. The outcome is often surprising or at least seemingly counter-intuitive given that the art industry relies on High Net Worth (HNW) individuals to support it, who often don’t feel the pinch of an economic slump. As Axel P. Lehmann, Chairman of the Board of Directors Credit Suisse Group observes in their June 2022 report on Collectibles, when economic growth is not assured, investors often look at alternative ways to diversify their assets, such as fine art. In short, he suggests that times of uncertainty can cultivate interest in investing in art.
It was expected that the art market would be negatively affected by the war in Ukraine, particularly due to a perceived reliance on Russian Oligarchs who patronise the arts. Yet Credit Suisse reports that this has not been as substantial as commentators initially thought.
“Russian collectors do not represent a large share of collectibles markets compared to Americans, Western Europeans and Asians. So the sanctions on Russia are unlikely to have any direct impact on the collectibles market.”
However, the rise in inflation, which is tapering the growth of the global economy, and limiting wealth expansion, this may translate “into a delayed compression of returns".
Arts businesses in Europe will be more directly impacted by the war in Ukraine, the report suggests. However, the Asian market has its own challenges – particularly China, not only due to new waves of Covid but also due to “a real estate market correction, which is also not favourable to consumer sentiment.”
Asia a drag on growth in the global contemporary art market
The Asian market on the other hand has its own challenges – particularly China, not only due to new waves of Covid but also due to “a real estate market correction, which is also not favourable to consumer sentiment," says Credit Suisse. Sales in the Chinese contemporary art auction market dropped by a staggering -33% in the 2021/22 period, according to the The Ultra Contemporary Art Market in 2022 report from Artprice.
The Western art market has come to rely on Asian buyers and investment. In the first half of 2022, 39% of the lots offered by Christies auction house went to Asian bidders, according to the Collectibles report.
At Sotheby’s, the other major auction house, Asian buying represented USD 1.3 billion in 2021 and 43% of all bidders were Asian. The auction house reported that 1/3 of all their bids originated in Asia.
The inaugural Frieze art fair (originally a London-based fair) was staged in Seoul in 2022 and highlighted how evolved the art scene is in that Korean city and potentially how it may be taking over from Hong Kong as a major hub where western and eastern art worlds are converging. According to Art Price’s Ultra Contemporary report, contemporary art turnover in Seoul grew by an astonishing +344%.
Given African dealers and artists have stronger links to the European art market, the impact of this shift is unlikely to be felt – unless African dealers find a foothold in Asia or the Asian galleries and collectors become more interested in African expression, which does appear to be gradually building given the auction results for works produced by African artists offered in Hong Kong sales and the number of artists topping the Red Chip art list.
The impact of the Asian market on the contemporary art market can’t be underestimated. If it wasn’t for China’s zero-covid policy the global contemporary art market would have grown by 9%, according to the Art Price report.
The Asian art market in numbers
Auction market bounces back post pandemic
The global art market has recovered since 2020 when the Covid pandemic hit. In that year the art market was valued at USD 50 billion and grew by 29% in 2021 to USD 65.1 billion, according to The Art Basel and UBS Global Art Market Report compiled by economist Dr Clare McAndrew.
It is interesting to consider where or what sectors of the market benefitted from the ‘recovery’. The auction sector enjoyed the most growth with public auction sales increasing by 47%, according to McAndrew. On the African front, the ‘recovery’ wasn’t felt equally across the continent or in the different categories of art, according to the Corrigall & Co Contemporary African Art Auctions 2020/2021 report. While the auction turnover for 2021 was up by 20%, the auction houses and departments dedicated to African art in the United Kingdom experienced a more substantial rate of recovery since 2020, when the Covid-19 first caused lockdowns.
Negative returns for modern and historical works
Locally, there was little change between Strauss & Co's turnover between January and June 2020 and the same period in 2021. Given that the South African-based auction house reported to have increased its client base during this time, suggests that what losses they have experienced in 2020 may have been mitigated by an increase in new international clients.
Some commentators assumed that modern and historical works would do better in times of uncertainty but the reverse seems to have been the case, not only on a global level but with African works too.
Modern art, impressionist works and those by old masters all recorded moderately negative returns in 2020, according to the Credit Suisse Collectibles report. Art Price dubbed the turnover in the contemporary art segment in 2022 as “exceptional” – given the USD 2.7 billion in global auction turnover (of which 38% from New York) which “reflects a market that is stronger, more diversified, and denser than ever”.
While the overall turnover of modern works offered on African-dedicated sales (on and off the continent) was substantially higher, the turnover of contemporary art (produced after 1980) had increased in 2021 by 20%, according to the Corrigall & Co's report.
Importantly, the Credit Suisse report drew attention to the fact that in the global market – and likely for African contemporary art too – there is higher volatility in the value of contemporary and postmodern art compared to 19th C or Impressionist.
The global art market in numbers
7 out of 10
The rise of red chip art and the fall of NFTs
This ties in with the rise of ‘red chip art’ – works produced by young artists – that are experiencing significant jumps in pricing on the secondary market which has been unprecedented. This new generation of artists (under 40 years of age) are generating works dubbed ‘Ultra-Contemporary’ or ‘Wet Art’ and are said to represent only 2.7% of the total art market, according to Art Price's 2022 report. It is suggested that this subsection of the art market consolidates the rising popularity of overlooked artists – women artists, African artists, Street or Urban artists and NFT artists.
Not all of these supposed ‘subsectors’ of the auction market are growing at an equal rate. Female artists are finding the most traction in the art market. If you take a look at Art Price’s Top 10 ranking of young artists under 40 there are seven young women – Ayako Rokkako, Flora Yukhnovich, Avery Singer, María Berrío, Anna Weyant, Christina Quarles and Loie Hollowell – who are all signed to the biggest global art galleries and are enjoying continued visibility in institutional (museum or biennale) exhibitions.
The African artists that make the top Ultra-Contemporary list are also doing consistently well and include the likes of Aboudia (4th place), Amoako Boafo (6th) as well as Ishmail Issahq, the Ghanian artist who has been staging sell-out shows at Gallery 1957. Other artists include Emmanuel Taku, Oluwole Omofemi, Cinga Samson, Serge Attukwei Clottey, Godwin Champs Namuyimba, Toyin Ojih Odutola, Kwesi Botchway, Portia Zvavahera, Marcellina Akpojotor, Otis Kwame Kye Quaicoe, Michael Armitage, Nelson Makamo, Annan Affotey, Raphael Adjetey Adjei Mayne and Simphiwe Ndzube.
The buzz surrounding NFT artists and this market, in general, seems to have died down somewhat. Of the five categories of NFTs – crypto art, collectibles, gaming, metaverses and utilities – the most liquid (in terms of the number of resales) is by far the gaming segment, according to the Credit Suisse Collectibles report.
Sales numbers have declined steadily from a million transactions per week for most of 2021 to 250,000 sales per week by the last quarter of that year.
However, the UBS Art Basel report found that the HNW individuals surveyed for their report had acquired seemingly double the amount of NFT works in 2022 compared to 2021 when the sales of NFTs had peaked in terms of values and the number of sales. There is some logic to this pattern – astute collectors have a preference for buying works when they are cheaper to acquire and there is less speculation driving up prices and generating unsustainable values.
2023 will undoubtedly see collectors embracing this approach, and perhaps identifying those Red Chip artists ahead of them reaching this status. African dealers, particularly those smaller ones based on the continent, will be hoping for this outcome.


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The usual culprits are angry at hearing last week that the Government and the agri sector will work together to…
The birth of Westland Milk Products was an appealing story for all New Zealanders, not just West Coasters. It spurned the overtures of Fonterra and did it the West Coast way.
The big dairy processors in New Zealand are lifting payout forecasts for 2015-16 in a further sign of a rebound in global milk prices.
Hokitika-based Westland Milk Products, New Zealand’s second largest dairy co-operative, has lifted its payout prediction for the 2016-17 season to a net range (after retentions) of $5.30 to $5.70/kgMS.
Problems in the Chinese market and delays in commissioning its new nutritional plant are being blamed by Westland Milk Products for some of its recent financial woes.
Reviewing the nature of its cooperative structure will be a challenge for Westland Milk Products (WMP), says the outgoing chairman, Matt O’Regan.
Westland Milk Products has been named as one of four finalists in the Best Use of Design category for this year’s New Zealand International Business Awards.
Waikato milk processor Tatua Dairy has done it again -- topping last season’s milk payout, leaving Fonterra and other processors far behind.
Westland Milk Products has signed a joint venture agreement with leading paediatric milk formula company Ausnutria to create a new stand-alone infant formula blending and canning company to be called Pure Nutrition Ltd.

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The global smartphone sales declined to 96 million units in May, only the second time in the last 10 years that it fell below the 100-million mark, a new report showed on Thursday.
The last time global smartphone sales went below the 100 million mark was during the first Covid-wave in May 2020, according to Counterpoint Research.
Even after a "V" shaped recovery following the first COVID-19 wave in 2020, the smartphone market has still not reached the pre-pandemic levels.
The global smartphone sales declined 4 per cent (month-on-month) and 10 per cent (year-on-year) last month. This was the second consecutive month of MoM decline and the 11th consecutive month of YoY sales decline.
"Inflationary pressures are leading to pessimistic consumer sentiment around the globe with people postponing non-essential purchases, including smartphones. The strengthening US dollar is also hurting emerging economies," said Research Director Tarun Pathak.
A segment of consumers is likely to wait for seasonal promotions before purchasing to offset some of the cost pressures, he mentioned.
In 2022, the component shortages, although not fully resolved, have been stabilising.
However, the smartphone market is now hit by a demand slump due to multiple factors including inflation, China's slowdown and the Ukraine crisis.
"China's lockdowns and prolonged economic slowdown has been hurting domestic demand as well as undermining the global supply chain," said senior analyst Varun Mishra.
The low demand is also leading to inventory build-ups, declining shipments and order cuts from smartphone manufacturers.
The second quarter (Q2) is likely to be the most heavily impacted this year in terms of sales before the situation improves in H2 2022, the report noted.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jun 30 2022 | 6:14 PM IST


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Home Sweet Repair Shop: One building on the grounds houses a lunchroom, operational center, repair shop, and dormitory. A few dozen employees run the entire facility. Their jobs include scanning the racks for malfunctioning machines, cleaning the cooling fans, fixing broken rigs, and installing upgraded machines. Many of the employees are recent engineering graduates from the local university.
With no ties to a national economy and lofty goals, Bitcoin's price is famously volatile. Prices have soared and plummeted in the wake of various national policies, financial deals, competing cryptocurrencies, and fluctuating public opinion. On the other hand, as many sovereign nations find themselves with currencies that are also vulnerable, the citizens of countries such as China and Venezuela are turning increasingly to virtual currencies.
Bloomberg reported that the largest 17 crypto merchant-processing services handled $69 million in June 2018, down from $411 million in September 2017. Bitcoin is "not actually usable" for retail transactions because of high costs and the inability to process chargebacks, according to Nicholas Weaver, a researcher quoted by Bloomberg. High price volatility and transaction fees make paying for small retail purchases with bitcoin impractical, according to economist Kim Grauer. However, bitcoin continues to be used for large-item purchases on sites such as Overstock.com, and for cross-border payments to freelancers and other vendors.
Illiquidity. This is mostly moot due to Bitcoin’s $47 market cap but it still makes users sweat. It’s highly unlikely that Bitcoin’s price would plummet and you’d be unable to take action, but it’s still unsettling. As more investors invest, however, illiquidity becomes a negligible risk, as there will likely always be a buyer for Bitcoins waiting.
"While crypto markets have seen rapid growth, such trading platforms don’t seem to be well-enough prepared in terms of security," said Hong Seong-ki, head of the country's cryptocurrency response team South Services Commission. "We’re trying to legislate the most urgent and important things first, aiming for money-laundering prevention and investor protection. The bill should be passed as soon as possible."
There are two basic ways to mine: On your own or as part of a Bitcoin mining pool or with Bitcoin cloud mining contracts and be sure to avoid Bitcoin cloud mining scams. Almost all miners choose to mine in a pool because it smooths out the luck inherent in the Bitcoin mining process. Before you join a pool, make sure you have a bitcoin wallet so you have a place to store your bitcoins. Next you will need to join a mining pool and set your miner(s) to connect to that pool. With pool mining, the profit from each block any pool member generates is divided up among the members of the pool according to the amount of hashes they contributed.
For years, few residents really grasped how appealing their region was to miners, who mainly did their esoteric calculations quietly tucked away in warehouses and basements. But those days are gone. Over the past two years, and especially during 2017, when the price of a single bitcoin jumped from $1,000 to more than $19,000, the region has taken on the vibe of a boomtown. Across the three rural counties of the Mid-Columbia Basin—Chelan, Douglas and Grant—orchards and farm fields now share the rolling landscape with mines of every size, from industrial-scale facilities to repurposed warehouses to cargo containers and even backyard sheds. Outsiders are so eager to turn the basin’s power into cryptocurrency that this winter, several would-be miners from Asia flew their private jet into the local airport, took a rental car to one of the local dams, and, according to a utility official, politely informed staff at the dam visitors center, “We want to see the dam master because we want to buy some electricity.”
Each block that is added to the blockchain, starting with the block containing a given transaction, is called a confirmation of that transaction. Ideally, merchants and services that receive payment in bitcoin should wait for at least one confirmation to be distributed over the network, before assuming that the payment was done. The more confirmations that the merchant waits for, the more difficult it is for an attacker to successfully reverse the transaction in a blockchain—unless the attacker controls more than half the total network power, in which case it is called a 51% attack.
Additionally, the DigitalBitbox has two modes of twin factor authentication. First, when paired with another device, you can enable two-factor authentications for using the wallet to make new transactions. Alternatively, you can use the DigitalBitbox itself as the second factor for another platform that uses two-factor authentications. It should be noted that doing this does disable some other options on the wallet. Ideally, only the first mode of twin authentication should be used if your DigitalBitbox is your main hardware wallet. However, if you don’t intend to use it for making many transactions, then it makes for a useful extended feature.
Nakamoto is estimated to have mined one million bitcoins before disappearing in 2010, when he handed the network alert key and control of the code repository over to Gavin Andresen. Andresen later became lead developer at the Bitcoin Foundation. Andresen then sought to decentralize control. This left opportunity for controversy to develop over the future development path of bitcoin.


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OUR OPINION:BLACK FRIDAY
Are this year’s early Black Friday hours a sign of creeping commercialism or a desperation ploy by battered retailers? We’ve heard both explanations since many stores announced they would open by midnight on Thanksgiving Day. That’s the night before Black Friday with some chains asking their employees to report to work at 11 p.m. Thanksgiving Day.
Brick and mortar stores have faced increasing competition from online sites and have never completely bounced back to their pre-recession numbers. The traditional early morning Black Friday sales are a huge event, a tradition for some sleep-deprived families. We certainly understand why retail employers are looking for every possible edge in an effort to serve their customers.
Still, we can’t help but yearn for a simpler time when most folks could count on Thanksgiving Day as a family day to relax, watch football and over-indulge. It would be nice if we could hold off the holiday shopping madness for a few hours and wait until the wee hours of Black Friday, no matter how compelling the bargains might be.


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The Victoria Racing Club and Myer officially launched the 2012 Myer Fashions on the Field competition at Flemington today with all state finalists and the Online People’s Choice Award Winner together for the first time ahead of the Women’s Racewear National Final on Crown Oaks Day.
Celebrating 50 years of Fashions on the Field at Flemington, Australia’s largest and most prestigious outdoor fashion event returned to the two-story Myer Fashions on the Field enclosure on the famous Flemington front lawn.
Myer Racing Ambassador Rebecca Judd, Myer Menswear Ambassador Kris Smith and Myer Fashions on the Field Ambassador Alison Saville were on hand to help mark the special occasion alongside returning VRC International Style Ambassador, world renowned hat designer Philip Treacy, in his first official appearance in the role this year.
50 years ago, Margaret Gaudion (nee Wood) was crowned the inaugural winner of Fashions on the Field and today the 69-year-old returned to Flemington to mark the event that changed her life.
Channel Seven’s Fifi Box and top Myer UK Designer Jeff Banks also returned to co-hosting duties at Flemington for today’s event and for the duration of 2012 Myer Fashions on the Field commencing this Saturday on AAMI Victoria Derby Day with the Men’s Racewear competition and Women’s Racewear Daily Final.
Myer Fashions on the Field state finalists representing WA, SA, QLD, NSW and TAS, and the Online People’s Choice Award Winner, all donned their winning outfits in which they compete for the Women’s Racewear National Final.
Myer Designer Leona Edmiston and Myer Milliner Melissa Jackson shared their expert tips on what to wear to the Melbourne Cup Carnival and what they will be looking for when judging Myer Fashions on the Field.
Taking pride of place at the event was the hand-crafted sterling silver perpetual Myer Fashions on the Field trophy, created by Peter Gertler of Melbourne, to be awarded to the Women’s Racewear National Winner on Crown Oaks Day.
The Myer Fashions on the Field National Winner will also receive a limited edition 9ct white gold pin set embellished with white diamonds and valued at $2,255, a gift from the VRC and also crafted by Peter Gertler of Melbourne.
This year’s competition again boasts a phenomenal prize pool valued at more than $400,000, including a brand new Lexus IS 250C F Sport convertible, TCL Entertainment Package, Myer shopping sprees, Longines watches, Antler luggage, weekend stays at the Sofitel Melbourne on Collins and much more.
All Victorian entrants are strongly advised to pre-register their interest online at www.melbournecup.com/fashion-style or by calling VRC Customer Service on 1300 727 575.
For further information on contestants, judging, finalist criteria, and prizes visit: www.melbournecup.com/fashion-style
Follow the competition on twitter @MelbCupCarnival and join in the conversation using the hashtag #50yrsMFOTF, or instagram @flemington_fashion


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Samsung is teasing its new smartphone from the past few days. Today they are going to launch their new budget M-series smartphone Galaxy M21.
Leaks tell that Galaxy M21 is going to launch on March 16 Monday but due to it was postponed and now it is launching today. Samsung has also given us some of the leaks for its design via the dedicated Amazon microsite.
Also, check out another post on Samsung
Samsung Galaxy M21 main highlights are,
- The Galaxy M21 has a massive 6000mAh battery.
- The smartphone contains a triple camera setup.
- the smartphone comes with a 6.4-inch display.
The Samsung Galaxy M21 design is quite familiar and is in-line with other recent Galaxy M- and A-series phones. This time they are going to use a U-shaped Infinity-U notch at the front to the house for the selfie camera unlike the Infinity-V notch of the M20s. Samsung will not be hosting a grand launch event for this latest M series smartphone.
Samsung Galaxy M21 price in India
The Galaxy M21 price starts from Rs. 12,999 for 4GB RAM + 64GB storage. The phone will be sold via Samsung’s official website and Amazon. After seeing the previous M-series smartphone the new Galaxy M21 will be the online exclusive smartphone.
Samsung Galaxy M21 specifications
Samsung has already leaked the display of Galaxy M21 so it will be Samsung’s Infinity-U Super AMOLED display. Samsung Galaxy M21 panel has full-HD+ (1080×2340 pixels) resolution and will measure 6.4-inch diagonally. The phone comes with two variants 4GB RAM + 64GB storage and 6GB RAM + 128GB storage. The Galaxy M21 has typical Samsung’s One UI 2.0 based on Android 10. The phone has a triple camera setup at back. The Primary camera of the phone is 48-megapixel paired with an 8-megapixel ultrawide and a 5-megapixel camera for depth sensing.
Samsung Galaxy M21 ha 20-megapixels for the selfie camera. The selfie camera works with artificial intelligence (AI) based features and supports a preloaded Face Unlock option.
Samsung has offered a massive 6,000mAh battery on the Galaxy M21 that supports 15W fast charging. Besides, the phone has 8.9mm of thickness and weighs 188 grams.
The Samsung Galaxy M21 has up to 128GB of onboard storage that is expandable via microSD card (up to 512GB). Connectivity options include 4G VoLTE, Wi-Fi, Bluetooth, GPS/ A-GPS, USB Type-C, and a 3.5mm headphone jack. The phone also comes with a fingerprint sensor at the back. Other sensors on the phone include an accelerometer, ambient light, gyro, magnetometer, and a proximity sensor.
|Performance||Samsung Exynos 9 Octa|
|Camera||48MP + 8MP + 5MP|
|Display||6.4″ (16.26 cm)|
|Launch Date In India||April 18, 2020|


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Four solar panels will keep it running for as long as the Sun shines.
“It showcases the ability of what an electric vehicle can do.”
Making its second approach towards Mars.
The space-traveling Tesla Roadster has made it past Mars.
Currently, “the fastest production car ever made.”
With a slated 2020 release window.
In anticipation of the upcoming launch.
The car will be playing David Bowie’s “Space Oddity” during launch.


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Yang Jae-hyun, author of popular Korean manga The Ruler of the Land has seen over 51 volumes printed and more than 4 million copies of his series sold. And yet, Yang still finds it difficult to make ends meet.
“I have about three comic books published a year and each volume sells about 4,000 copies,” according to a quote from the author cited in a report about the decline of manwha at Korean news site JoongAng Daily. “But I earn about 2 million won [$1,818] per month.”
He goes on: “I also work with two or three assistants. In addition to paying them, I have an electric bill of 300,000 won per month because we draw the comics with computers. After paying all of that, there is nothing left.”
And Yang is one of the more popular artists over in South Korea. Others haven’t been as “lucky.” Where movies and TV dramas inspired by manhwa are usually met with both financial and critical success, their popularity tends not to affect sales of the original printed stories they were derived from. As in the case of Japanese manga, the common perception is that illegal digital downloads are to blame.
“When a comic is made into a film, it sells very well,” Kim Jin-young at Random House Korea revealed to JoongAng. “[Korean manhwa] Tazza was even made into a drama. But for some reason its sales were lower than expected.”
What Kim is referring to is a movie titled The War of Flowers, based on Tazza, released in September 2006. The film attracted about 6.8 million moviegoers. A year later, it was converted into a TV drama series.
Further comments from the Korea Manhwa Contents Agency indicate that the industry has been in decline since 2006. In order to cope with the decline, they say, numerous artists are moving toward serializing their comics on the Internet, as opposed to in print.


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LEOMINSTER — Kohl’s department store will join Target as an anchor at the Orchard Hill Park development off Harvard Street, according to developer Gregg Lisciotti.
Lisciotti asked to adjust his project’s footprint to accommodate the 88,901-square-foot Kohl’s and reduce the number of stores at the outdoor strip mall to fit the larger building.
“Nothing has changed,” Lisciotti assured planning board members Tuesday.
But member Carol Vittorioso questioned whether the board needed to hold another meeting on the addition, since the change might affect traffic and quality of life for several abutting residents.
“Did you take into consideration the name of the business going in?” Vittorioso asked. “It could have been Joe Shoe Store, Mary Donuts and Tony Tires. … Originally what was going to attract people was Target. The others were incidental to Target. People might go to the other stores incidentally when coming for Target.”
She added: “Now you have two major stores that will attract people.”
She challenged whether adding Kohl’s was one of the “minor adjustments” Lisciotti told board members he might make when they approved the project in February.
“I was very upfront with the board that I would be back with minor changes,” Lisciotti said, adding that construction will not be held up with the new changes.
Lisciotti’s traffic consultant, Bill Scully, said the number of trips to the center with a Kohl’s and Target will stay the same as originally projected.
Scully said 1,300 vehicle trips were expected at the peak hour in original plans, and that number has stayed the same in his analysis.
Scully said without the Kohl’s, five other good-size stores — not “Joe Shoe Stores” — would have opened. Now only two more as yet unnamed stores will sit next to Kohl’s.
Board members will decide whether to hold a hearing at their Jan. 4 meeting in City Hall.
“I just feel like your tenants are telling us what to do, and it concerns me a little bit,” Vittorioso said.
A Kohl’s department store was also slated for the proposed shopping center off Route 117, along with a Wal-Mart Supercenter and a Lowe’s Home Improvement store. Several neighbors are currently appealing that project in Worcester Superior Court.
Nobody was available Tuesday night to comment on whether Kohl’s is still scheduled for the Route 117 location.


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Consumer backlash is causing Asus to clarify that its motherboard warranty will still cover the product when running a beta BIOS or if memory overclocking has been activated.
The company issued the statement after the YouTube channel Gamers Nexus released a scathing video, pointing out a hole in the company’s warranty policy for its AMD-designed motherboards. A statement attached to the beta BIOS for the product implied that installing the software could void the motherboard’s warranty.
Last month, some consumers reported that AMD’s Ryzen 7000X3D chips can overheat and damage the motherboards. AMD later blamed the problem on the SoC voltage on the processors reaching unsafe levels, with Asus also pointing fingers at the memory overclocking through the motherboard’s EXPO technology.
“The amount of voltage required varies between CPU samples. Some processors are more sensitive to overvoltage than others, and some are capable at running higher memory frequencies without needing as much voltage,” Asus said at the time.
To fix the problem, the company and other motherboard vendors rolled out a BIOS update, which can essentially cap the SoC voltage to 1.3 volts. However, Gamers Nexus found that the update failed to restrict the SoC voltage. In addition, the fine print on the beta BIOS from the company noted: “Asus does not give any warranties, whether express or limited, as to the suitability, compatibility, or usability of the UEFI, its firmware or any of its content.”
On top of all this, a few consumers affected by the Ryzen 7000X3D problems say Asus told them the company’s policies wouldn’t cover their motherboard warranty because it had been run with a beta BIOS or EXPO memory overclocking.
On Monday, Asus clarified its policy. “We would like to reassure our customers that both beta and fully validated BIOS updates for Asus AM5 motherboards are covered by the original manufacturer’s warranty,” the company said in a statement.
Asus added the warranty “also covers all AMD EXPO, Intel XMP, and DOCP memory configurations,” along with all recent BIOS updates following AMD’s latest voltage guidelines for the Ryzen 7000 processors.
“Furthermore, we would like to reiterate our commitment to supporting the AMD AM5 platform and our customers. For any further inquiries about your Asus AM5 motherboard, please contact our customer service for support,” the statement added. On Tuesday, the company also released a new BIOS update for affected AMD motherboards that isn't a beta and drops the disclaimer implying the voided warranty.


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The Queen's Award was made to Jaguar Land Rover (JLR) for the company's efforts in reducing the environmental impact of its products and operations.
This is the 14th Queen’s Award that Jaguar and Land Rover have received since 1967 – the second year of the scheme, and follows a 2014 award for International Trade, in recognition of JLR’s impressive overseas sales growth.
- Iconic JLR models parade for upgraded Solihull site
- Lightweight tech to create 1,300 new jobs at JLR
- JLR offers a 360° view of the road ahead
The company’s CEO, Dr Ralf Speth said: “Jaguar Land Rover is honoured to receive this 2015 Queen’s Award for Enterprise in Sustainable Development, we are focused on growing a long-term, sustainable business, as leaders in environmental innovation and making a positive impact on society.”
The award has been announced during Responsible Business Week, which is appropriate timing as Jaguar Land Rover was named Responsible Business of the Year 2013/14 by Business in the Community (BiTC).
‘Whole lifecycle’ approach
The company’s 8,000 designers and engineers take a ‘whole lifecycle’ approach to vehicle development, aiming to reduce impact on the environment right through from raw materials to eventual vehicle disposal. These measures have already helped significantly reduce Co2 emissions, with the company’s EU fleet average on track to be 25% lower in 2015 than 2007.
JLR has become something of a world leader in the design and manufacture of aluminium-intensive vehicles, pioneering the use of closed-loop processes to drive recycled content and reduce environmental impacts across the lifecycle. Benefits include weight saving; higher fuel efficiency; lower emissions; improved crash safety, and even better vehicle dynamics.
The latest generation Range Rover and Range Rover Sport, for example, are each up to 420kg lighter than equivalent predecessors.
Now, a new family of highly efficient, ultra-low emission, aluminium four-cylinder diesel and petrol engines, named Ingenium, has been developed to power new and future Jaguar and Land Rover vehicles.
The engines have recently entered production at the company’s brand new £500m Engine Manufacturing Centre near Wolverhampton, which was opened in October 2014 by HM The Queen.
Aluminium-intensive and advanced technologies
The all-new Jaguar XE mid-sized sports saloon demonstrates JLR’s uses of advanced technologies to create a vehicle that leads its sector. The XE can reportedly achieve fuel economy figures of 75 mpg and Co2 emissions down to 99g/km.
Hybrid technology is another area that has seen significant investment by the business in recent years. The Range Rover Hybrid and the Range Rover Sport Hybrid are now both available, using an advanced hybrid system and without compromise to their renowned all-terrain capabilities.
JLR has also significantly reduced its operational energy, waste and water usage at its UK manufacturing plants. The new Engine Manufacturing Centre has been designed and built with strong emphasis on sustainability, including the UK’s largest rooftop solar panel installation, which will generate up to 30% of the site’s energy.
Doubling the workforce and increasing skills
JLR’s approach also contributes to social, economic and leadership dimensions of sustainable development. The company is helping address the UK skills gap, with a training and skills programme aimed at young people at school (STEM initiatives), recruitment of over 2,000 apprentices and graduate engineers in the past five years, and investment in on-going training to develop engineering skills among its workforce.
The company also has a sector-leading global Corporate Social Responsibility programme to deliver opportunities for 12m people worldwide by 2020. In the first year of the activation (2013/14), 1.5m people benefitted from education and clean water opportunities through NGOs such as the Red Cross and Climate Care.
As well as the 14 Queen’s Awards, Jaguar Land Rover is proud to be the only automotive company to hold all three Royal Warrants, as an official supplier of goods and services to the households of HM The Queen, HRH The Duke of Edinburgh and HRH The Prince of Wales.


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November 1, 2003 |
NEW DELHI: In restricted activity, prices of urad and moong drifted on the wholesale pulses market on Saturday in the absence of worthwhile buying interest and ended lower. Elsewhere, prices of other commodities remained stable on sporadic demand. Traders said lack of buying interest against adequate stocks mainly pulled down urad and moong prices. Urad (Maharastra) and urad (Rangoon) were remained weak at Rs 1200-1350 and Rs 1125-1205 against last close of Rs 1220-1365 per quintal respectively.
November 11, 2003 |
NEW DELHI: In an otherwise steady wholesale pulses market, urad prices drifted on increased selling by stockists and ended moderately lower. Other commodities continued to be traded around previous levels in the absence of any worthwhile activity. Traders said fall in urad prices was mostly due to increased offerings by stockists and considerable fall in demand. They said activities remained restricted in view of paucity of funds. Urad (MP) and Urad Rangoon prices were down at Rs 710-1080 and Rs 1170-1230 per quintal respectively against last close of Rs 750-1100 and Rs 1185-1255.
July 15, 2003 |
NEW DELHI: In restricted activity, urad and gram prices declined on the wholesale pulses market today following lack of necessary buying support and closed with moderate losses. Elsewhere, prices generally moved in a narrow range in limited deals and settled at last levels. The volume of business was restricted. Traders said reduced offtake by retailers' mainly brought down urad and gram prices. They said negligible enquiries from neighbouring state markets on heavy rains also had an adverse impact on the trading sentiments.
August 5, 2003 |
NEW DELHI: Urad and gram prices showed some weakness on the local wholesale pulses market today following increased offerings by stockists against sluggish demand from retailers and ended moderately lower. Traders said the decline in select commodity prices was mostly attributed to stockists' selling triggered by subdued advices from producing belts. They said prevailing tight money market conditions too adversely affected the trading sentiments. Urad (MP), Urad (Maharashtra)
October 31, 2003 |
NEW DELHI: Select commodity prices such as urad, gram and kabli gram moved down on the wholesale pulses market on Friday due to increased arrivals from producing regions amidst reduced offtake and ended lower. Traders said increased arrival from producing centres in the wake of reduced offtake by stockists and local parties mainly pulled down select commodity prices. They said lower outside advices also influenced the market sentiment. Urad MP, urad (Maharastra) and urad (Rangoon)
October 9, 2003 |
NEW DELHI: Moong and Rajmah prices strengthened on the local wholesale pulses market on Thursday largely on pickup in demand from stockists amidst higher producing region advices and ended with sizeable gains. However, Urad turned weak on stockists selling against slackness in demand. Traders said increased offtake by stockists and higher producing belt notes influenced the trading sentiments. Moong (Maharashtra) (new) traded higher at RS 1325-1800 per quintal against last close of Rs 1300-1750.
June 15, 2002 |
NEW DELHI: Moong and Gram prices firmed up on the local pulses market on Saturday on tight stocks in view of restricted supplies from producing regions and registered fresh gains. The volume of business also improved to some extent. Marketmen said considerable fall in arrivals from producing centres mainly pushed up selective pulses prices. Moong (Maharashtra) and Moong (Rajasthan) traded higher at Rs 2100-2250 and Rs 2230-2390 per quintal against last close of Rs 2050-2200 and Rs 2200-2315 per quintal respectively.
August 1, 2009 |
NEW DELHI: DLF, India's largest property firm, plans to launch 16 million sq ft of residential space in the current fiscal, even as the company continues to have a cautious outlook. DLF has been able to reduce its debt by over Rs 2,000 crore and has received another Rs 2,000 crore from group company DAL in the June quarter, indicating that the company's cash situation may be fast improving. "We are being a bit more cautious than the rest of our colleagues...We will launch not just for selling but for adding value and making reasonable profit," DLF vice-chairman Rajiv Singh told analysts in a post-earnings conference call, adding that he didn't think the sector was 'completely out of the woods'.
October 7, 2010 |
NEW DELHI: Gram and masoor prices declined up to Rs 100 per quintal in the the wholesale pulses market on Thursday on subdued demand at existing higher levels. Adequate stocks positions also influenced the trading sentiment to some extent. Marketmen said subdued demand at higher levels led to a decline in gram and masoor prices. Masoor small and bold prices lost Rs 50 each to Rs 3,300- 3,500 and Rs 3,500-3,750, while its dal local and best quality fell by Rs 100 each to Rs 3,950-4,050 and Rs 4,250-4,550 per quintal.
February 3, 2009 |
NEW DELHI: Property prices will fall further by 15-20% in the next three months, DLF vice-chairman Rajiv Singh said on Monday. India's largest real estate company ? DLF, which reported a 69% decline in profit for December quarter ? said it was expecting to raise over Rs 2,000 crore through sale of 'non-strategic' assets, including wind power business and land parcels that are unlikely to generate revenue for the next 10 years. Mr Singh said he expects to raise over Rs 2,000 crore through private placement in the promoter group company DLF Assets (DAL)


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There is no evidence to suggest that COVID-19-causing coronavirus is being spread by food or packaging, the World Health Organization (WHO) said on Thursday. "People should not fear food, or food packaging or processing or delivery of food," WHO head of emergencies programme Mike Ryan told a briefing in Geneva.
WHO has urged people not to be afraid of the virus entering the food chain, according to Reuters.
Two cities in China have found traces of the new coronavirus in imported frozen food and on food packaging, local authorities said on Thursday, raising fears that contaminated food shipments might cause new outbreaks. Following the incident, China has stepped up screenings at its ports.
"There is no evidence that food or the food chain is participating in transmission of this virus. And people should feel comfortable and safe."WHO epidemiologist Maria Van Kerkhove said China had tested hundreds of thousands of packages and "found very, very few, less than 10" proving positive for the virus.Brazil's Agriculture Ministry said in a statement that it was seeking clarification on the Chinese findings.
Ecuadors production minister, Ivan Ontaneda, told Reuters that the country maintains strict protocols and cannot be held responsible for what happens to goods after they leave the country.
More than 20.69 million people have been reported to be infected by the novel coronavirus globally and almost 750,000 have died, according to a Reuters tally.
The WHO also urged countries now that are striking bilateral deals for vaccines not to abandon multilateral efforts, since vaccinating pockets will still leave the world vulnerable.
"The vast majority of the population of the world is susceptible to this disease," Bruce Aylward, WHO senior adviser told the briefing. "The second thing that we are seeing is the stringency of the application of control measures is dropping. People are coming closer together...masks aren't being used the way that they should etc."So any levelling of the disease that we are looking at is just lulling you into a sense of false security ... because it has lots of space to still cause trouble," Aylward added.


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How Cybercrime Has Changed (Infographic)
Grow Your Business, Not Your Inbox
Cybercrime is not new, but it seems it is getting worse as time goes on. As the rate of cyber attacks increases, so does the cost of damage control and security for businesses.
An infographic from security firm BTB Security shows how many more breaches and incidents of indentity theft there were in 2015 than in 2005. As a result, 190 million consumers were compromised last year, compared to only 44.2 million ten years earlier. Check out the infographic below to see how much these online attacks are costing businesses, then make sure you have a secure password.


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The second wave of Covid-19 in India is now taking a toll on retail sales as states impose curbs on the movement of people and business activities to control the spread of the virus.
According to a Retailers Association of India survey, retail sales in May were barely one-fifth of pre-Covid levels. The sales figure slid 79% from the same month in 2019.
Retailers across the country reported falls in sales with the steepest decline averaging 83% in the Western and Northern regions. The Eastern region reported a 75% fall, while the Southern region was comparatively less affected (73%) during the period. On a sequential basis, the decline in May was much steeper than the previous month, when overall sales across India were down 49% compared to April 2019, the survey added.
As localized lockdowns had led to the closure of shops in many cities and many industries had adopted remote working, customers had cut down on discretionary and impulsive purchases. In terms of retail categories, beauty, wellness and personal care saw the steepest decline (87%), followed by footwear (86%) and sports goods (80%) last month as against May 2019. However, food and grocery witnessed a comparatively lesser decline of 34% compared with May 2019, while the quick service restaurants witnessed a dip of 70%.
The association claimed that retail businesses continue to face financial pressures on various fronts such as salaries, rentals, electricity charges and various taxes and license fees, among others, due to the pandemic-induced restrictions. However, the group is optimistic about June as many states are now easing the lockdown norms in a calibrated manner.
Delhi, Haryana, Tamil Nadu, Karnataka, Maharashtra and some other states have now eased local restrictions following a drop in cases. The country’s daily number of new infections is now less than 100,000, down from the peak of 400,000 cases in mid-May. But health experts feel the governments should exercise caution while reopening cities, or the cases may spike again.
The retailers’ association CEO, Kumar Rajagopalan, favors vaccinating a major chunk of the population. “If the vaccination drive picks up, things can recover really fast just like how it is happening in the US or the UK, but if it continues the way it is, recovery is expected to be delayed,” he told Financial Express Online.
The association had in April urged the government to extend the benefits of the emergency credit line guarantee scheme to retailers and sought a moratorium on the principal and interest on loans for up to six months. It had claimed that 80% of retail stores are closed due to localized lockdowns and predicted that, if the working capital challenges of the retailers are not addressed, it may lead to around 750 billion rupees (US$ 10.22 billion) of bad loans.
Rajagopalan said, “If the Finance Ministry extends the support, at least there is a possibility to come out of this. So, we will have to wait and watch. Last year food businesses were at about 90% level, but this year it also got impacted as many retailers were asked to shut down.”


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The second annual ATM & Mobile Innovation Summit will kick off this fall in Washington, D.C., bringing together regulators, ATM deployers, credit card processors, government officials and financial institutions to discuss the future of payments.
The event, which will be held Sept. 10-12 at the Capital Hilton near the White House, will begin with a session on bitcoin, ATMs and mobile payments.
The summit will be hosted by Networld Media Group–the publisher of ATM Marketplace and MobilePaymentsToday.com–and the Electronic Funds Transfer Association; it is sponsored by the ATM Industry Association and MagTek.
Bitcoin, a virtual currency independent of a central bank, has become increasingly popular among consumers as a way to purchase goods and services, and the payment method joins a growing number of available payment technologies.
Speakers from numerous companies, including Bitpay, U.S. Bank, MasterCard, PAI, JPMorgan and Crowdstrike, will meet with government agencies and regulators to discuss case studies of actual ATM and mobile integrations, the Durbin interchange fee debate, payment security and data breaches, interagency regulation and EMV migration outside of the U.S.
Registration can be completed by visiting the event website.


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Note: The Everyday Price Index for December is based on incomplete data due to restrictions on data collection by Bureau of Labor Statistics personnel because of the Covid-19 outbreak.
The AIER Everyday Price Index jumped 0.5 percent for the month of December while the more encompassing Consumer Price Index gained just 0.1 percent (on a not-seasonally-adjusted basis). December was the first increase in the Everyday Price Index following two consecutive decreases. Prior to those declines, the Everyday Price Index had risen for five straight months from May through September. The index had declines in three of the first four months of 2020; in total, the index posted seven increases and five decreases over the 12 months through December. For all of 2020, the Everyday Price Index is up just 0.9 percent.
The Everyday Price Index including apparel, a broader measure that includes clothing and shoes, rose 0.3 percent in December, reversing a 0.3 percent drop in November. Over the year, the index posted four declines, six increases, and was unchanged twice. In total, the index is up just 0.5 percent over the 12 months through December 2020.
Apparel prices fell 1.9 percent on a not-seasonally-adjusted basis in December and are down 3.9 percent over the past year. Within the apparel category, women’s and girls’ apparel fell 2.4 percent for the month (and are down 5.9 percent over 12 months) while men’s and boys’ apparel fell 1.6 percent for the month (and 3.2 percent over the past year). Footwear prices were down 1.5 percent in December and 2.2 percent from a year ago.
Food and energy items are the largest components in the Everyday Price Index. Food at home (groceries), food away from home (restaurants), household fuel and utilities, and motor fuel (primarily gasoline) all made positive contributions to the monthly change in the Everyday Price Index in December. Groceries rose 0.3 percent, restaurant prices increased 0.4 percent, household fuels and utilities gained 0.6 percent, and gasoline was up 3.4 percent for the month. Over the 12 months of 2020, three posted gains (groceries up 3.9 percent, restaurants up 3.9 percent, and household fuels up 2.3 percent) while one, motor fuel, had a decline (down 15.3 percent). In total, 12 categories had increases in December while 11 posted declines and one was unchanged. For the full year, 15 had higher prices while 9 had lower prices.
The Consumer Price Index, which includes everyday purchases as well as infrequently purchased, big-ticket items and contractually fixed items, rose 0.4 percent on a seasonally-adjusted basis (versus the 0.1 percent increase on a not-seasonally-adjusted basis) in December. Over the past year, the Consumer Price Index is up just 1.4 percent. Excluding food and energy, the core Consumer Price Index was up 0.1 percent for the month after seasonal adjustment while the 12-month change came in at 1.6 percent.
Within the core, core goods prices rose 0.2 percent in December and are up 1.6 percent from a year ago while core services prices rose 0.1 percent for the month and are also up 1.6 percent from a year ago. Among the increases in core goods were new vehicle prices, up 0.4 percent for the month and 2.0 percent for the year, and apparel prices (on a seasonally-adjusted basis), up 1.4 percent in December. Partially offsetting those gains, used car and truck prices fell 1.2 percent for the month but are still up 10.0 percent from a year ago.
Within core services, motor vehicle insurance rose 1.4 percent, cable and satellite service rose 0.4 percent (and is up 4.2 percent for the year), tuition and childcare increased 0.2 percent, haircuts and personal services rose 1.0 percent, and bank services surged 8.5 percent.
Overall trends in prices remained moderate in 2020 though monthly volatility remains significant, especially as economic activity remains distorted by government restrictions on businesses and consumers.


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If you’re a holiday baker or just a bagel fan, you’ve probably heard that cream cheese is in limited supply in New York in the US. According to the New York Times, bagel stores in the city have only a few days’ worth of supplies on hand, with “no end in sight” for when the weather improves.
Some of the issues are related to shipping logistics, which have been affecting store shelves for months due to a shortage of drivers and trucks. And, as Cornell University agricultural economist Andrew Novakovic told Bloomberg, dairy shipments require an additional licence to transport produce from farms to processors to store shelves.
Packaging concerns are also being blamed, with Novakovic stating that plastic film and cardboard have been difficult to come by.
However, rather than dairy issues, the major issue may be digital. Schreiber Foods, a Wisconsin-based company that distributes cheese slices to burger joints and competes with Kraft Foods in terms of cream cheese production capacity, was the victim of a cyberattack just as it was ramping up processing for the holiday rush.
Inflation has driven prices to decade highs, and cyberattacks have contributed to the turmoil gripping global food supply networks in the Covid-19 age. This year, hackers also attacked JBS SA, a meat company, and an Iowa grain cooperative.
Problems in supply chain
Cream cheese is a product that is particularly prone to supply chain problems. According to Novakovic, some producers have had difficulty obtaining starch, a thickening component used in cream cheese, as well as packaging such as plastic film and cardboard boxes.
Because cream cheese is a perishable item, it’s impossible to have a significant stock on hand. In addition to the general labor shortage, the dairy business is particularly severely impacted because of the additional license required to pick up milk from farms.
According to Bloomberg, the corporation was obliged to shut down lines for a few days. Although the firm has already increased output, the shutdown have already had an impact on the supply chain, according to a company representative.
“All this together has aggravated the cream cheese situation in the country,” said Emma Aer, chief executive officer of competing cream cheese producer Franklin Foods. “We just can’t keep up with the demand.”
The Philadelphia brand’s owner, Kraft Heinz, is promising to repay tens of thousands of holiday consumers $20 for desserts or treats they prepare or buy that don’t include cream cheese.
Its website states, “You may not be able to locate Philly to bake a cheesecake, so get any other dessert on us.”


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Pinterest has established itself as a reliable predictor of shopping trends and is now testing a physical storefront that lovers of the digital scrapbooking app can buy from in real life. Yesterday (Dec. 7) Pinterest opened its first-ever pop-up shop in New York City. The store, also available online, displays the trends in fashion, beauty and home decor that Pinterest believes will be the most popular in 2024 and allows customers to purchase items on the spot. The store is open until Dec. 10.
Pinterest CEO Bill Ready claims the company has a 80 percent success rate over the past four years in determining upcoming trends for its 482 million monthly users through its annual Pinterest Predicts guide for consumers and advertisers.
“Our secret sauce is our audience—because people come to Pinterest to plan, we have unique insight into what’s going to be the next big thing,” Ready said in a LinkedIn post yesterday.
Katie Romero, a TikTok influencer with more than 216,000 followers, shows the New York store in detail, which has sections for themes like “Western gothic,” “blue beauty” and “hot metals.” Juxtaposed to all the consumption, Pinterest highlights upcycling, a sustainable practice for making new items from old ones, as a trend. To make a purchase, all you have to do is scan the QR code next to an item exhibited. The QR will then take you to a product page on Pinterest with a link for finalizing an order and payment.
These types of features that combine shopping and content sharing have become popular among social platforms. TikTok launched TikTok Shop earlier this year to encourage users to make direct purchases from videos as they are scrolling on the app. Meta and Snap both recently announced partnerships with Amazon that allow users to buy directly from Amazon ads that appear in their Facebook, Instagram and Snapchat feeds.
Pinterest’s idea to build a physical store representing what its users want to buy is also similar to what Spotify did with its Wrapped Café pop-up in Paris last year. The store, which was created around the popular end-of-year Spotify feature that provides users with a visual recap of their top songs and artists of the year, brought in French artists and podcasters to perform and created interactive experiences for visitors related to the “wrapped” concept.


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George Aguel, head of Walt Disney World's fast-growing conventions and meetings business, has seen the future. It lies in Mayan ruins, mariachi bands and more affordable hotel rooms.
By this time next year, the Disney vice president expects to have chalked up a busy opening season at Disney's Coronado Springs Resort, a Southwest-theme convention hotel set to open late next summer.
Aguel's high expectations stem from a single selling point: Coronado Springs, with nearly 2,000 rooms, will be Disney's first moderately priced property catering to groups.
And there already are signs that he won't be disappointed.
The company has seen strong bookings for Coronado Springs this year. Aguel wouldn't provide specific numbers, but he said some weeks next fall already are filled with as many group reservations as the hotel can handle.
The rates, ranging from about $100 to $134 a night, are roughly half what Disney's other convention hotels charge.
"This hotel was created from the ground up specifically focused on the opportunity to pursue a broader group and convention market," Aguel said. "We're bringing in many organizations that we might not have attracted before."
Disney has become increasingly aggressive in its efforts to woo corporate meetings and conventions, with good reason.
The business is substantial, accounting for nearly $83 billion in delegate spending nationwide in 1994, according to the trade group Meeting Professionals International. And it complements the seasonal flux of tourism, peaking in the fall and late winter. The tourist crowds are heaviest in the summer and during the Christmas holiday season.
The convention business also plays an indirect role in Disney's overall marketing.
"It gives us the opportunity to showcase the Walt Disney World resort to individuals attending business functions, who then have the opportunity to come back and bring their family," said Randy Garfield, president of Walt Disney Travel Co.
The opening of Coronado Springs seems certain to ratchet up competition among local convention hotels. In addition to its 1,967 rooms - making it the largest convention hotel in Central Florida, in terms of rooms - it will have 95,000 square feet of meeting space.
Still, it's unclear how broadly the impact will be felt. Most major convention hotels cater to a more upscale market.
Coronado Springs will compete with Harris Rosen's Clarion Plaza and Omni Rosen hotels, which have 65,000 square feet and 100,000 square feet of meeting space, respectively. The Clarion charges about $89 to $129 for its 810 rooms, and the Omni Rosen, with 1,334 rooms, charges about $89 to $140.
Another potential competitor, the new Orlando's Caribe Royale Resort Suites, is opening in phases on the southern end of International Drive and will have 1,218 two-bedroom suites when completed in a few months. Its room rates range from $129 to $159, and its convention center, expected to open by early 1998, will have about 50,000 square feet of meeting space.
Disney's rivals expect to lose some business to Coronado Springs. But they remain upbeat, based on Orlando's growing appeal as a convention destination. "I think the market is large enough for both of us," said Garritt Toohey, vice president of Tamar Inns, which manages Rosen's hotels.
Disney's track record with conventions is notable.
Company officials won't provide sales figures, but Aguel said revenue from meetings quadrupled during the past five years. And the company has yet to cash in on the largest part of the market. Disney officials concede that the majority of groups can't afford the high-end properties available at Disney World today, such as the Grand Floridian Beach and Contemporary resorts.
With professional and trade associations, members often pay their own way to the meetings. As for corporate gatherings, many companies have cut back on these expenses during the past decade.
"I find that a number of my corporate clients these days are very conscious of price," said Sheryl Sookman, a meeting planner and president of Sookman & Associates in Novato, Calif. "Room rate is important to the bottom line of their budget."
Even though Coronado Springs is more affordable than other Disney hotels, it offers the same "extras," Aguel said. The access to theme parks, live entertainment, golf courses and other amenities are all strong selling points, he said.
In another example, the company provides professional development and business seminars for groups. The programs, created by Disney University, are now run by the Disney Institute, which also offers instruction in the arts, cooking and gardening. Increasingly, the company is custom-designing programs to meet specific groups' needs.
Some meeting planners agree that these kinds of amenities give Disney an edge in the market.
Sookman said her clients increasingly are looking for places where participants can combine the business trip with a family vacation. "Definitely, it's a consideration when they're looking at a possible destination," Sookman said.
Others point out, however, that the features that make Disney World appealing to some groups may make it wrong for others.
Janet Pickover, an independent meeting planner in Princeton, N.J., has had two clients turn down the idea of meeting at Disney World because they worried that the setting would be too distracting. "It depends on the purpose of the meeting," she said.


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Budget reaction: Tobacco duty increase ‘not enough’ to get smokers to quit
Health council disappointed as price of average pack of cigarettes climbs 'only' HK$4 to HK$54
The Hong Kong Council on Smoking and Health has expressed disappointment at the increase in tobacco duty announced by Financial Secretary John Tsang in today’s budget speech, saying it is too small to affect smokers’ behaviour.
The 20 per cent per stick increase on cigarettes, which takes place with immediate effect, will increase the retail price per pack from an average HK$50 to about HK$54.
It brings the proportion of tobacco duty to retail price of cigarettes to about 70 per cent – the minimum level recommended by the World Health Organisation.
Chairman of the council Lisa Lau Man-man said the raise was not enough to prompt smokers to quit.
The council had called for the tobacco tax to be doubled, which would have raised the average price to HK$84 per pack.
Some smokers wrote on the internet forum Golden that they had expected the increase and had stocked up with dozens of packs beforehand.
A few said that a HK$4 increase per pack was insignificant and that smokers should “celebrate”.
“I wish to emphasise that this is not a budgetary measure to increase revenue,” Tsang said as he announced the measure.
A government source said the increase was not based on projections of what level of duty would be needed to discourage the average smoker. Nevertheless, they expected the proportion of smokers in the general public could drop from 10.7 per cent to single digits.
Tsang stressed the government would continue to strengthen its smoking cessation services. It would also step up publicity and law enforcement on tobacco control. At the same time, the Customs and Excise Department would step up enforcement against illicit cigarette trading.


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Amazon launches for-pay streaming music service
NEW YORK - Amazon is launching a paid streaming music service, the latest entry in an increasingly crowded field.
Amazon Music Unlimited is being positioned to compete against existing services such as Spotify and Apple Music. It will cost $8 per month, or $80 a year, for members of Amazon's $99-a-year Prime loyalty program. Non-Prime members will pay $10 a month, the same monthly fee charged by Spotify and Apple Music.
Owners of Amazon's Echo smart speaker, meanwhile, will be able to get the unlimited music service on one device for $4 per month.
The steaming service is one more perk - like two-day free shipping and Amazon Video - that the Seattle-based company hopes will attract people to its Prime program and thus encourage them to spend more on its flagship site.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
SU students helped desegregate NASA, worked on Apollo 11
Save Our Cities March and Rally held in honor of Sadie Roberts-Joseph
Deputies looking for burglar who stole service dog in training from Zachary...
Well-known justice of the peace arrested, accused of torturing family for more...
Big turnout for Employ BR job fair Friday


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Stay abreast of what’s happening internationally with developments in corporate public affairs. Here is news that you may find useful and interesting:
15 Key Considerations For Businesses When Commenting On Political Or Social MattersND
Expert Panel, Forbes, June 30, 2020
Traditionally, the rule of thumb for businesses when it came to political or social issues was to ignore them. However, as the world becomes more politically aware of situations that influence everyday life, socio-political issues have now become a major aspect of a company’s public relations effort. An expert panel from the Forbes Agency Council have set out a 15-point plan of what businesses should take into consideration when commenting on social or political issues. Amongst their list, the panel advises that businesses should not force messaging that does not align with their brand; encourages businesses to embrace controversial content; understand consumer perception; be mindful and fair; and support causes that will resonate with customers.
To read the full list go to Forbes


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eBay and a group of other investors (Omidyar Network, Draper Fisher Jurvetson, Esther Dyson, Allen & Company, and Senator Bill Bradley) have bought a 10 percent stake in MeetUp.com for an undisclosed sum. The company, which helps facilitate real life — as opposed to online — meetings between affinity group members, says it’ll use the dough to fuel growth.
While MeetUp.com operates on a subscription model, the site runs Google AdSense ads, and one could imagine it being an excellent venue for channeling affinity group-specific eBay products (or offers from Shopping.com merchants) to users. They’d have to be very careful about user experience, though, because some of these folks are paying. Also, anything that succeeds based solely on the quality of the community needs to be handled very carefully. Another possible angle for eBay is building more real-life community for its members. (The company says the Dallas eBay Sellers MeetUp is currently the most active eBay-related group.)
As with its Craigslist investment, eBay will likely rationalize the deal as a way to to watch and learn from MeetUp.com, and incorporate lessons about community-formation and -building into its other businesses.
As an aside, MeetUp founder and CEO Scott Heiferman was also founder and head of early online media buying company iTraffic, which was later purchased by Agency.com.
Speed can make more of a difference to the success of your online business than anything else, yet very few people talk about it.
Automation is the number one area for email innovation and focus in 2016 according to this year’s Email Marketing Industry Census. However, ... read more
Marketers' spending on social media has tripled in the past seven years but falls way short of where marketers expected it to be when they peered into their crystal balls in 2009.
Advertisers have been flocking to Snapchat, which now has more daily users than Twitter and is increasingly seen as perhaps the biggest threat to Facebook's dominance in social.


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HUNDREDS of people queued to grab the best bargains as department stores threw open their doors for the traditional Boxing Day sales.
At Harvey Nichols flagship store in Edinburgh queues went round the block – with people hoping to get their hands on discounted designer jackets, shoes and handbags.
And there were queues outside the shopping centres in Glasgow’s Buchanan Street, Union Square in Aberdeen and Dundee as bargain hunters prepared to seek out the best deals.
Gemma Hare, marketing manager of Harvey Nichols in Edinburgh said: “When the doors opened people were running into the store. The Gucci table was cleared in under a minute.”
Among the hottest items were a Sukey tote, reduced from £560 to £390 and Celine cabas shoulder bags, down from £1150 to £805. Gucci, Prada , Bottega Veneta, Louboutin shoes and Victoria Beckham dresses were also discounted and in demand.
After a disappointing year and a huge rise in online shopping there were fears people would lose their thirst for the Boxing Day sales, but shopping centres and department stores around the country reported a busy day’s trading.
Buchanan Centre manager Kathy Murdoch said: “The sales have got off to a great start with shoppers eager to find a bargain. The Next sale always draws a big crowd, and this year was no exception with more than 300 people queuing up outside the store from the early hours.
“Judging by the shopping bags it looks like fashion items and clothing have been the big sellers of the day.
“The excitement of the sales has continued throughout the day with the centre seeing thousands of visitors on the hunt for the perfect bargain.”
In Dundee the manager of the Overgate Centre, David Carson, said: “The sales have been really popular with Dundee shoppers who have been visiting the centre in their thousands. The Next sale is always a popular event and we had queues of shoppers waiting patiently for the doors to open at 6am.
“Elsewhere in the centre, visitors have been bagging some great festive bargains throughout the day and we expect this to continue throughout the sales period.”
In London’s West End the sales were boosted by large numbers of Chinese tourists – who threw themselves into the traditional shopping scrum in search of new experiences.
Richard Brown, of Global Blue, said: “Last year, Boxing Day helped fuel a 49 per cent increase in the number of transactions year on year from these luxury-focused international shoppers.
“The most popular purchases this year are expected to include designer handbags and fashion items, rarely discounted at home with an increasing appetite for premium beauty brands. With average spend per transaction for both Chinese and Middle Eastern shoppers at well over £1,000, their impact will be hugely valuable to this sales season.”
Jace Tyrrell, director of the New West End Company which represents retailers, said: “This is one of the strongest trading days of the year in terms of sales, and retailers are pulling out all the stops to harness the coveted international spend, whilst also attracting shoppers from across the UK all hungry for a bargain.”
Meanwhile figures from Experian showed online shopping had not slowed over the holiday period, with 84 million visits made to retail websites on Christmas Eve and 107 million visits on Christmas Day.


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Kawasaki India sells 1480 bikes in 2014
Through 2013, Kawasaki India sold mid-size motorcycles, which gearing up for big bike launches in 2014. Sales of Ninja 300 and Ninja 650 in 2013 stood at a total of 1,000 units. Kawasaki India has registered 48% sales growth in 2014. Kawasaki sells Z800, Z1000, Ninja 1000, ZX-10R and ZX-14R as CBU’s in India. Ninja 300 and Ninja 650 are brought into the country as Completely Knocked Down (CKD) units and assembled at at Bajaj Auto’s Akurdi plant, and over time local content has been increased. As expected, both bikes continue to be high sales volume models.
Kawasaki operates 3 dealerships in in India. Operations began in 2010, with bikes initially being sold through probiking outlets alone before standalone Kawasaki stores were introduced. Kawasaki India expected to sell 1,500 motorcycles in 2014, and has gotten to that target. Through H1 2014, the company sold 640 units here.
The big bike market in India has been growing these past few years, and Kawasaki looks forward to 25% market share by 2015. Dealerships too will be increased to meet demand. Last week, Kawasaki India revealed its 2015 price list, and in passing on benefits to buyers, reduced the price of Z800 by Rs 55,000 until March end.


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Shares of Tesla dropped 7.68% to $599.94 at 14:21 EST on Wednesday, after four successive sessions in a row of gains. The Nasdaq Stock Market is falling 1.38% to $12,409.00, after four sequential sessions in a row of gains, on what up to now seems, an all-around rough trend trading session today.
Tesla’s last close was $649.88, 9.06% under its 52-week high of $654.32.
News about Tesla today
Tesla equity sale comes at a good time for index-fund trackers. According to today’s article on Bloomberg Quint, “With Tesla Inc. about to be added to the S&P 500, people have wondered where index-tracking mutual funds will find the $80 billion of stock they’ll need to own in Elon Musk’s car-maker. Now they know: at least some of it will come from Elon Musk’s car-maker.”
Tesla shares are ‘dramatically overvalued,’ J.P. Morgan says. According to today’s article on Bloomberg Quint, “Tesla Inc.’s shares are now dramatically overvalued and investors thinking of raising their holdings in the company ahead of its impending addition to the S&P 500 Index should not, JPMorgan analyst Ryan Brinkman wrote in a note on Wednesday.”
Tesla’s sales growth is 35.4% for the current quarter and 59.8% for the next. The company’s growth estimates for the present quarter and the next is 112.2% and 265.2%, respectively.
Year-on-year quarterly revenue growth grew by 39.2%, now sitting on 28.18B for the twelve trailing months.
Tesla’s Stock Top and Bottom Yearly Value
Tesla’s stock is valued at $599.94 at 14:21 EST, below its 52-week high of $654.32 and way above its 52-week low of $70.10.
Tesla’s Moving Average
Tesla’s value is way above its 50-day moving average of $476.88 and way above its 200-day moving average of $361.69.
Previous days news about Tesla
Tesla was ordered to pay a model S buyer $175,000 for hiding structural damage on a pre-owned car. According to Business Insider on Mon Dec 7, “Tesla concealed structural damage on a used Model S it sold in China and must compensate the car’s buyer, a Beijing court ruled Friday according to Chinese outlet Caixin and confirmed by Bloomberg. “
Tesla raising up to $5 billion in third share sale this year. According to Bloomberg Quint on Tue Dec 8, “Tesla Inc. is taking advantage of its surging shares by going back to the capital markets for the third time in ten months and raising as much as $5 billion of common stock.”
Tesla plans stock sale, closing year of soaring gains. According to The Wall Street Journal on Tue Dec 8, “Tesla Inc. plans to raise as much as $5 billion through new sales of stock, capitalizing on a market tear that has sent its shares zooming this year.”
Tesla is watching its stock price too. According to The Wall Street Journal on Tue Dec 8, “Tesla is wisely ringing the cash register amid a stunning stock rally. Speculators should take notice.”
Tesla stock has rebounded from an early decline as analysts stay positive. According to MarketWatch on Tue Dec 8, “Shares of Tesla Inc. bounced back into record territory Tuesday, erasing an earlier sharp slide, even as the electric vehicle market leader filed for the sale of up to $5 billion worth of stock.”
Tesla CEO Elon Musk says he has moved to texas. According to MarketWatch on Tue Dec 8, “Tesla Inc. Chief Executive Elon Musk said at The Wall Street Journal event Tuesday that he has moved to Texas. The reason is to be able to follow closely the new Tesla factory going up outside of Austin and privately held SpaceX’s startship program, also in the southern state, he said. Musk stopped short of saying Tesla and SpaceX headquarters would move out of California,”
Tesla CEO Elon Musk says he has relocated to texas. According to Bloomberg Quint on Tue Dec 8, “Elon Musk has moved to Texas to focus on two big priorities for his companies: SpaceXâs new Starship spacecraft and Tesla Inc.âs new Gigafactory, currently under construction in Austin, the chief executive officer for both companies said Tuesday.”


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With the integration of SureWest well underway, Consolidated Communications (Nasdaq: CNSL) has set a goal of advancing its business service set to extend into the Sacramento, Calif. and Kansas City areas it entered through that deal.
Leveraging a mix of internal and external growth methods, Consolidated has set itself on a path to transform from being a small town telephone provider to a service provider delivering IP-based services for consumers and business customers.
Similar to its previous acquisitions like Texas-based TXU and North Pittsburgh Systems Inc., last July's SureWest acquisition is another element in expanding its next-gen service vision.
"You would not necessarily plan to be in the geographies we are in, but what we have seen in our desire to transition our business from a traditional telephone business of 30 years ago to a broadband company, we identified through history organic facility deployment, market expansion opportunities as well as acquisitions that helped us to expand our broadband service opportunities across our consumer, business, and wholesale customer groups," said Bob Udell, chief operating officer of Consolidated, in an interview with FierceTelecom. "SureWest was a perfect fit for that."
A key element that SureWest and the Everest assets it purchased in 2007 will help Consolidated with will be in expanding its business services reach. Similar to other independent telcos, SureWest and Everest extended those facilities to address commercial customers.
"While SureWest was historically more consumer-focused, it has been easy to refocus some of that energy on commercial and wholesale development with a shorter payback lifecycle," Udell said.
Besides network assets, Consolidated appointed Ed Butler, who managed SureWest's sales efforts, to lead its sales operations, for example, in all six states its serves.
Unsurprisingly, a big focus of Consolidated's business drive is focused on Ethernet.
Currently, Consolidated has been growing its fiber and copper-based Metro Ethernet service reach across its ILEC and CLEC territories.
"Even though we started in Ethernet with larger multisite business, it's picking up momentum with more businesses finding that an acceptable platform because it allows us to layer on more user-driven services on top of it," Udell said.
One market where Consolidated has seen success is in Pittsburgh where it began offering a mix of fiber-based Ethernet in addition to Ethernet over Copper (EoC) for smaller businesses that it could make a business case for fiber.
"Ethernet has really reinvigorated our sales force there and our market," Udell said. "We're taking that copper product to our California market this quarter."
Udell added that EoC "gives us a platform to allow small businesses in the sub-$1,000 a month range in spending to integrate voice and data over the same broadband connection and layer on data services and move into the cloud service product line without making it an exclusive business focus of ours."
Consolidated Communications says it's not afraid of Google Fiber
Consolidated Communications-SureWest synergy boosts Q3 revenue to $157M
Consolidated Communications posts Q2 earnings above 2011 figures
Consolidated expands geographic, service reach with the closing of its SureWest acquisition
Consolidated's SureWest acquisition gets shareholder approval


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Attending the Auckland leg of Microsoft’s Launchwave event last Wednesday, it was hard to discern exactly where the company’s resellers should start to take advantage of the stack of products the company has released.
Microsoft focused a great deal on how its trio of new products – server operating system Windows Server 2008, SQL Server 2008 database suite and developer platform Visual Studio 2008 – can help customers achieve a dynamic IT environment.
This is Microsoft’s utopian-like vision, of a state where IT infrastructure is optimised with products and technologies integrated to create an environment that helps customers gain strategic advantage.
Microsoft sees a dynamic IT environment as being unified and virtualised; process-led and model driven; service-enabled; and user-focused.
To reach this nirvana, organisations need to transcend three other levels of infrastructure maturity – basic, standardised and rationalised.
According to Microsoft, dynamic IT enables next-generation data centres and applications, of which virtualisation and web-based delivery are key elements.
At Launchwave, Microsoft centred on four pillars on which the new products would deliver dynamic IT – a secure and trusted platform, virtualisation, creating immersive online experiences and business intelligence.
While it is not hard to imagine the role partners can play in each of these areas, the sheer amount of information presented on the day was enough to leave anyone’s head spinning.
Therefore, I caught up with keynote speaker John Case, Microsoft’s Redmond-based general manager for development and user experience platforms and tools, to gain a broad perspective of where Microsoft partners should put their focus first.
Case singled out Windows Server 2008, picking out two new features in particular – Server Core and, not surprisingly, virtualisation.
Server Core is a minimal server installation option in Windows Server 2008. It provides a low-maintenance server environment with limited functionality.
A more basic system is not what most people go to flash launch events to hear about. Yet Case reckons Server Core will enable resellers to provide smaller customers with a more effective and efficient OS that has a reduced footprint, uses less power and is cheaper to run.
“Partners can take Server Core to customers and save them money,” says Case.
However, virtualisation still presents the biggest opportunities.
Case says Microsoft will enter this arena in force in the second half of this year when it releases Hyper V – the hypervisor for Windows Server 2008.
The comparative cost-saving and ease of deployment of Hyper V will create a myriad of new business opportunities for its partners, says Case.
“With Hyper V customers can create four virtual servers for the cost of a single license.”
At present fewer than 10 percent of servers are virtualised, says Case, adding Microsoft expects this number to double over the next year.
There is no doubt Microsoft’s entry into virtualisation, as well as its raft of other new products, will generate new business for its partners.
However, it is important to remember not all Microsoft resellers can or should follow the company down each new path it travels.
The more a company such as Microsoft diversifies its product set, the more it highlights the need for resellers to become more specialised.
Striving for an integrated world such as Microsoft’s dynamic IT vision is a great ideal, but in reality only the larger players will be able to provide the majority of the pieces of such a puzzle.
For smaller operators, which most readers are, the best bet would be to specialise in those disciplines they can truly excel in.


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SARASOTA, Fla. (AP) _ Roper Technologies Inc. (ROP) on Friday reported third-quarter profit of $289.5 million.
On a per-share basis, the Sarasota, Florida-based company said it had profit of $2.71. Earnings, adjusted for one-time gains and costs, were $3.91 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.86 per share.
The industrial equipment maker posted revenue of $1.46 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $1.62 billion.
For the current quarter ending in December, Roper Technologies expects its per-share earnings to range from $3.62 to $3.66. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.96.
The company expects full-year earnings in the range of $15.26 to $15.30 per share.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ROP at https://www.zacks.com/ap/ROP
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News


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United States District Judge A. Howard Matz issued a preliminary injunction against American Online, Inc. finding that PlayMedia Systems’ had established the probable validity of allegations that its AMP(R) MP3 playback technology was used in the AOL 6.0 Media Player without permission. At issue is whether AOL violates the terms of a 1999 licensing agreement.
PlayMedia, a firm that designs and develops digital content distribution and management software, markets a popular MP3 audio decoding engine known as AMP. PlayMedia originally licensed AMP to Nullsoft in 1999 for use in conjunction with Nullsoft’s Winamp product. AOL subsequently bought Nullsoft and used the music player in its AOL 6.0 software, but PlayMedia claimed that AOL should have negotiated a separate licensing agreement. In April 2001 PlayMedia sued AOL for copyright and moved for this preliminary injunction.
In opposition, AOL denied that AOL 6.0 software infringed upon PlayMedia’s software, and further argued that the issuance of an injunction would cost AOL tens of millions of dollars. In a 38-page opinion paper, Judge Matz dismissed these arguments and found that PlayMedia had established the probable validity of its claim of copyright infringement, entering the following Preliminary Injunction Order:
PlayMedia’s chairman and chief executive officer Brian Litman said, “We regret that this matter had to be litigated. Nevertheless, we are heartened by Judge Matz’s decision and will continue to vigorously enforce our intellectual property rights to the AMP(R) engine.” Litman added “AOL and many foreign affiliates have distributed the AMP(R) software in AOL 6.0 worldwide using vehicles as diverse as leading retail stores to Cheerios boxes. We are currently evaluating the broader implications of the court’s decision.”
Regarding the injunction, PlayMedia’s trial attorney Henry Gradstein, partner in the Los Angeles-based law firm of Gradstein, Luskin & Van Dalsem, said, “The irony in this case is that historically, AOL claims to support ‘strong protection of intellectual property rights, both online and off, yet the court’s opinion suggests that AOL did not respect the intellectual property rights of our client, PlayMedia.”


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Brits and Russians Top In-Flight Drinkers Poll
A new survey of international airline cabin crew has revealed that British travellers have the reputation as the biggest in-flight drinkers.
compare travel cardsAccording to research from travel site Skyscanner, air stewards and stewardesses have voted Brits as the nationality most likely to enjoy an alcoholic drink as part of their flying experience.
Russian holidaymakers came in second place, beaten by the 54% of Brits who like to have a stiff drink on-board their flight or in the airport before boarding.
Perhaps the most surprising aspect of the results is that 41% of British travellers who took part in the survey said they would book an alcohol-free flight if they were offered by airlines.
Almost a quarter of these said that the main attraction of a ‘dry flight’ was to guarantee that other drunken passengers wouldn’t spoil the experience.
Skyscanner’s Victoria Bailie said: “Although British and Russian travellers might be the biggest on-board drinkers, these results are a clear sign that the popularity of alcohol-free flights is on the rise.
“It seems that travellers would prefer to forgo their favourite tipple rather than spend several hours sitting next to someone who has had one too many.”
Perhaps surprisingly, it seems that the younger generations are amongst the most conservative in their attitudes and are the group most strongly in favour of banning alcohol on flights.
British holidaymakers aged 18-24 emerged from the study as the biggest supporters of no alcohol flights and only 18% of them claimed to enjoy in-flight drinking.
However, the group most strongly against the idea of being denied an in-flight drink were holidaymakers from the North East regions.
The issue has been brought under the spotlight by the recent call from Russian officials for a full scale alcohol ban on all flights to prevent drunken behaviour on board commercial airlines.
If you are jetting off on holiday this year, remember to buy your travel money in advance to avoid the expensive airport rates.


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More than 200 Swiss union members have demonstrated in Strasbourg against European Union plans to create a free market in the services sector.
Around 40,000 protestors from around Europe showed up in France as the EU discussed the Services Directive that aims to liberalise areas such as construction, restaurants and consulting.
The European parliament is debating the proposals, also known as the Bolkestein Directive after internal market commissioner Frits Bolkestein, for the first time on Tuesday.
The aim of the directive is to create an open market for services comparable to the free trade of goods.
Switzerland's largest union, Unia, acknowledges that the directive will not affect Switzerland directly in the short term but fears it will make it harder to protect workers from wage dumping in future.
"This directive will make it more difficult for further treaties in a way that is unacceptable for unions in Switzerland," Unia spokesman Hans Hartmann told swissinfo.
"Our strategy for managing open borders is to get the Swiss government to introduce stricter legislation to make it more acceptable for the working class.
"The Bolkestein Directive would make this process more difficult."
But Professor Robert Zäch of Zurich University believes opening Swiss borders further would be beneficial if the price of goods also dropped to EU levels.
Zäch, a member of the competitions commission, said the Swiss pay up to 40 per cent more for some goods than in many EU countries, which drives up the cost of living.
"Opening up the service sector market would put additional pressure on wages, so I can understand the arguments of the unions," he told swissinfo.
"If our workers could buy food at 20-40 per cent less, then wages could come down. The high price island issue must be tackled otherwise opening up borders will be unfair to businesses and workers."
Switzerland would not automatically have to sign up to the Bolkestein Directive if it is made EU law, according to the Swiss EU Integration Office.
Switzerland broke off negotiations with the EU over opening the service sector market in 2003. Current treaties concerning the freedom of movement of people allow workers from this sector to work in Switzerland for up to 90 days.
"The existing agreements on the free movement of people are static," Swiss EU Integration Office spokesman Adrian Sollberger told swissinfo.
"If there is movement in certain areas that are covered by this agreement, such as opening up the market in services, then Switzerland is free to decide whether to take over new EU regulations in the sector covered by this agreement or not."
Sollberger added that the Swiss government would only consider re-entering negotiations on the service sector after seeing the contents of an extensive report looking into all aspects of EU relations being written for the summer.
swissinfo, Matthew Allen
Switzerland has bilateral treaties with the EU guaranteeing the freedom of movement of workers across borders.
However, Switzerland imposed quotas for the number of labourers from eastern Europe until at least 2011, and possibly until 2014, when the agreement was extended to the new EU states in September last year.
Switzerland also hired 150 labour inspectors to guard against wage dumping.
The EU Services Directive aims to remove legal and administrative barriers that can hinder businesses from offering their services in other countries in the EU.
Businesses covered in the directive range from hotels and restaurants to construction, car hire, advertising, estate agencies and services offered by professionals such as architects and lawyers.
EU leaders ordered the original directive to be changed in March last year amid fears it could result in domestic companies being priced out of the market by cheaper foreign firms.
Switzerland would not be bound by the directive as its previous labour accords are binding and static.
In compliance with the JTI standards